浦银国际策略观点：中央经济工作会议释放积极政策信号，扩内需为首位

Group 1: Economic Policy and Strategy - The Central Economic Work Conference emphasizes expanding domestic demand as a priority for economic policy[4] - The government plans to increase the deficit ratio and the issuance scale of special bonds, alongside implementing a moderately loose monetary policy[4] - Key industries targeted for policy support include real estate, consumption, infrastructure, technology, and fertility[4] Group 2: Investment Focus - The first investment focus is on boosting consumption to expand domestic demand, with initiatives to support new consumption policies and urban renewal projects[5] - The second investment focus is on "Artificial Intelligence+" and new productive forces, aiming to enhance technological innovation and industry upgrades[5] - Recommended sectors for investment include the new energy vehicle supply chain, smart home industry, hospitality, and modern services like healthcare and finance[5] Group 3: Market Outlook and Strategy - The market is expected to enter a policy implementation phase leading up to the next Two Sessions, with structural market trends anticipated[6] - A-shares are predicted to perform more steadily compared to overseas Chinese stocks, driven by profit growth and market sentiment[6] - Investment strategies should balance risk, favoring high-beta sectors during positive market sentiment and defensive sectors during downturns[6]