A股点评报告：坚定发展信心 夯实牛市基础

Economic Outlook - The government aims for a GDP growth of around 5% and an urban unemployment rate of approximately 5.5%[3] - The deficit ratio is proposed to be set at around 4%, an increase of 1 percentage point from the previous year, with a deficit scale of 5.66 trillion yuan[3] - The issuance of special long-term bonds is planned at 1.3 trillion yuan, which is an increase of 300 billion yuan from last year[3] Monetary and Fiscal Policy - A moderately loose monetary policy will be implemented, with expectations for potential reserve requirement ratio (RRR) and interest rate cuts to maintain ample liquidity[3] - The focus will be on optimizing structural monetary policy tools to promote healthy development in the real estate and stock markets[3] Technology and Industry Focus - Emphasis on developing strategic emerging industries, including artificial intelligence, quantum technology, and 6G, as key areas for future investment[4] - The report highlights the importance of integrating advanced manufacturing with modern services, particularly in the context of digital economy and smart manufacturing[4] Investment Strategy - The spring market trend is expected to continue, with a strong focus on technology and consumer sectors as core investment areas[5] - Short-term fluctuations are not expected to alter the medium-term positive trend, particularly in sectors like artificial intelligence and low-altitude economy[5] Risk Factors - Potential risks include economic data falling significantly below expectations, policies not meeting market anticipations, and deteriorating external environments[6]