于变局中开新局：2026年度策略系列报告

Group 1 - The year 2025 marks the conclusion of the "14th Five-Year Plan" and the initiation of the "15th Five-Year Plan," with a series of high-level and systematic efforts throughout the year to establish a comprehensive framework for the new plan [2][8] - The "15th Five-Year Plan" aims to build a modern industrial system, emphasizing the importance of solidifying the foundation of the real economy while promoting innovation [3][19] - The plan highlights the need for high-level technological self-reliance and strength, with increased R&D investment expected to enhance national strategic technological capabilities [3][32] Group 2 - The plan anticipates a boost in domestic consumption to activate growth momentum, with policies expected to reflect stronger systemic and coordinated efforts to balance supply and demand [3][33] - The construction of a financial powerhouse is emphasized, with expectations for the A-share market to maintain a steady expansion pace, better serving national strategies and industrial upgrades [3][32] - The dynamic balance of Sino-American relations is projected to remain a key theme, with the interplay of political cycles and trade agreements influencing the competitive landscape [3][19] Group 3 - The "15th Five-Year Plan" outlines the goal of achieving significant results in high-quality development, with a focus on enhancing self-reliance in technology and deepening reforms [19][37] - The plan aims to strengthen the domestic market, promoting effective investment and breaking down barriers to create a unified national market [33][37] - The emphasis on expanding high-level opening-up and enhancing regional economic coordination is intended to optimize the economic layout and promote sustainable development [37][38]