宏观策略周报：中央一号文件首提农业新质生产力，阿里官宣加码AI投入

Investment Highlights - The report emphasizes the importance of supporting the development of smart agriculture and expanding the application of technologies such as artificial intelligence and data in the agricultural sector, as highlighted in the central government's recent policy document [9][10] - Alibaba plans to invest over 380 billion yuan in cloud and AI hardware infrastructure over the next three years, marking a significant increase compared to the past decade, driven by the rapid growth of the AI industry in China [13] - The central government is focusing on stabilizing the real estate and stock markets while promoting the integration of technological and industrial innovation to ensure high-quality economic development [11] Market Overview - The report notes a mixed performance among major domestic stock indices, with the Shanghai Composite Index down by 1.7% and the Shenzhen Component Index down by 3.5% over the past week [19][20] - The report identifies the top-performing sectors, including steel, real estate, and textiles, with respective gains of 5.3%, 3.7%, and 2.7% [22] Policy Outlook - The report anticipates a focus on stable growth and high-quality development in the upcoming national two sessions, with local governments setting GDP growth targets averaging 5.3% [16] - Key investment areas are expected to include smart connected vehicles, low-orbit satellite communications, and AI-driven digital economy sectors, reflecting a strong emphasis on technological innovation [16][18]