股指期货专题报告：以更大决心推动经济高质量发展

Report Industry Investment Rating - Not provided Core Viewpoints - The "15th Five-Year Plan" draft provides positive signals and stable support for the market, and the A-share market is more likely to form a "stable and improving" pattern [3][12] - The economic growth in 2026 may exceed expectations, which is conducive to boosting confidence and supporting the development of the capital market [1][7] - The capital market will serve the development of new productive forces and support high-quality development [2][10] Summary by Directory Targets are reasonable and practical, leaving room for development from quantity to quality - The "15th Five-Year Plan" draft refines 20 main indicators, including 3 in economic development, with GDP growth to be kept in a reasonable range and determined annually as appropriate [6] - The 2026 economic growth target of 4.5% - 5% is practical and leaves room, and the actual growth may reach 5.2% [6][7] Emphasize new productive forces, achieve scientific and technological self-reliance, and embrace the new round of scientific and technological revolution - In the innovation-driven aspect, the draft proposes 3 indicators, including an average annual growth of over 7% in R & D expenditure, and the added value of the digital economy's core industries to account for 12.5% of GDP [8] - It proposes 28 projects to lead the development of new productive forces, and emphasizes seizing the opportunity of the scientific and technological revolution to promote in-depth integration of scientific and technological and industrial innovation [2][8] - The capital market will serve the development of new productive forces, support the construction of a modern industrial system, and enhance the quality of listed companies [2][10] Highlight people's well - being, boost consumer confidence, and realize people's aspiration for a better life - The draft proposes 7 indicators in people's well - being and 25 projects, aiming to improve people's living quality and boost long - term consumer confidence [11] - In the green - low - carbon and safety -保障 aspects, it proposes relevant indicators and projects to ensure national security and environmental protection [12]