【广发宏观郭磊】四中全会公报关键细节研读

Core Viewpoint - The article discusses the key points and timelines related to the "14th Five-Year Plan" (十四五规划) and the upcoming "15th Five-Year Plan" (十五五规划), emphasizing the importance of high-quality development, technological self-reliance, and various strategic initiatives for economic and social progress in China [1][2][3]. Summary by Sections Planning Timeline - The timeline for the "15th Five-Year Plan" includes several key meetings and publications, starting with the Politburo meeting in July, followed by the Fourth Plenary Session in October, and concluding with the National People's Congress in March 2026, which will review and publish the plan's outline [1][8]. Development Goals - The main goals for the "15th Five-Year Plan" include achieving significant results in high-quality development, enhancing technological self-reliance, deepening reforms, improving social civilization, and ensuring national security [2][10][11]. Modern Industrial System - The plan emphasizes maintaining a reasonable proportion of manufacturing, establishing an advanced manufacturing backbone, and fostering new and future industries while optimizing traditional sectors [3][12]. Technological Innovation - The focus is on seizing opportunities from the new technological revolution, enhancing original innovation, and addressing key core technology challenges to establish a leading position in global technological innovation [4][14]. Expanding Domestic Demand - The strategy aims to lead new supply with new demand and create new demand through supply, promoting a healthy interaction between consumption and investment [6][15]. Deepening Reforms and Expanding Opening-Up - The plan outlines over 300 reform measures to be implemented by 2029, focusing on economic system reforms and maintaining a multilateral trade system amid external challenges [5][16][17]. Regional Strategy - The emphasis is on leveraging key regional growth drivers and enhancing marine economic development, indicating a strategic focus on specific areas to boost overall economic growth [6][19]. Agriculture and Livelihood - The plan aims to modernize rural living conditions and promote high-quality real estate development, indicating a shift in policy focus towards improving living standards and housing quality [6][20]. Green Development and National Security - The plan includes accelerating the establishment of a new energy system and enhancing national security capabilities in critical areas such as food and energy security [7][22][23]. Work Deployment for the Current Year - The emphasis is on achieving economic and social development goals for the year, stabilizing employment, businesses, and market expectations, and ensuring effective implementation of existing policies [7][25].