ETF 及指数产品网格策略周报（2025/9/17）

Core Viewpoint - The article discusses investment opportunities in ETFs focusing on new economy sectors and national defense, highlighting the potential for growth driven by government policies and increased defense spending [3][5][6]. Group 1: New Economy ETF - The New Economy ETF (159822.SZ) aims to capitalize on China's focus on developing new productive forces and promoting technological innovation, as outlined in the 2025 government work report [3]. - This ETF indirectly tracks the S&P China New Economy Industry Index through full holdings in the ICBC South China S&P New Economy Industry ETF (3167.HK), covering leading companies in AI, internet, biotechnology, and innovative pharmaceuticals [3][4]. - The ETF is positioned to benefit from the ongoing industrial upgrade in China, which is characterized by the emergence of new growth drivers and the rejuvenation of traditional sectors [3]. Group 2: National Defense ETF - The National Defense ETF (512670.SH) is linked to China's increasing defense budget, which reached 1.81 trillion yuan in 2025, marking a 7.2% year-on-year increase, although still below 1.3% of GDP [5][6]. - The ETF tracks the CSI National Defense Index, focusing on core areas such as aviation equipment, missiles, and new materials, which are expected to benefit from improvements in the national defense sector [6]. - The article notes that the defense budget is anticipated to rise further as China approaches its 2027 military centenary goal, suggesting a positive outlook for the defense technology industry [5][6].