优化离境退税政策，提振消费或更进一步

Market Review - The equity market showed mixed performance last week, with the ChiNext Index rising the most by 1.74%, while the Northbound 50 Index fell by 2.16% [5][6] - Among the 31 sectors, advanced manufacturing collectively rebounded, with notable gains in automotive (4.87%), beauty care (3.80%), and basic chemicals (2.71%) [5][6] Equity Product Allocation Strategy - Event-driven strategies include focusing on funds related to new generation information technology and high-end equipment manufacturing, such as Huaxia Intelligent Manufacturing Upgrade (016075) and Jiashi Technology Innovation (007343) [15][16] - The optimization of the departure tax refund policy is expected to boost domestic consumption, with funds like ICBC New Generation Consumption (005526) and Huaxia Consumption Selection (017719) being highlighted [15][16] - The AACR annual meeting will feature many Chinese pharmaceutical companies, suggesting potential interest in funds like ICBC Medical Health (006002) and Tianhong Medical Innovation (010654) [15][16] Stable Product Allocation Strategy - The central bank's continued net injection of liquidity and stable LPR rates indicate a supportive monetary environment, with March industrial profits turning positive, signaling economic recovery [20][21] - The central bank's MLF operation of 600 billion yuan aims to maintain liquidity, which is crucial for upcoming bond issuances [22] - Convertible bonds are noted for their dual characteristics, with current median prices around 1200, indicating potential allocation value despite high valuation risks [22][23] Fund Market Performance - The偏股基金指数 (equity fund index) rose by 1.90%, while the secondary bond fund index increased by 0.22%, reflecting a positive trend in the equity market despite some volatility in the bond market [12][13] - The short-term bond index remained stable, while the medium to long-term bond index saw a slight decline of 0.05% [12][13] Key Focus Products - Recommended funds include Nord Short Bond (005350) and Guotai Li'an Medium and Short Bond (016947) for stable returns, while funds like Anxin New Value (003026) and Southern Glory (002015) are suggested for those looking to capitalize on equity market opportunities [3][27]