《十五五规划建议》落地后市场如何演绎？：策略周报-20251102

Group 1 - The report highlights that the "15th Five-Year Plan" has significant implications for market performance, particularly in the context of historical trading patterns observed after the release of previous plans [5][11][20] - The report identifies key themes for investment opportunities in the upcoming month, including domestic substitution in computing power and software, military industry, AI applications, and robotics [5][12] - The report notes that the TMT (Technology, Media, and Telecommunications) sector currently has a crowding degree of around 35%, with a critical threshold at approximately 40% that warrants attention [5][27] Group 2 - The report emphasizes the importance of the "15th Five-Year Plan" in shaping the strategic direction of various industries, particularly in technology and defense sectors, with a focus on innovation and self-reliance [12][16] - The report outlines that the plan includes new strategic goals such as becoming a space power and an agricultural powerhouse, indicating a shift towards enhancing national capabilities [16][21] - The report discusses the historical performance of markets during previous Five-Year Plan cycles, suggesting that the current plan's implementation will likely reinforce existing market trends unless disrupted by significant macroeconomic narratives [5][17]