国泰海通｜军工：二十届四中全会提出“如期实现建军一百年奋斗目标，高质量推进国防和军队现代化”

Core Viewpoint - The military industry is expected to perform well in the long term due to increasing great power competition and the emphasis on national defense modernization as outlined in the recent Party Congress [1][2]. Group 1: Military Industry Performance - The military sector has seen an increase, with the defense and military index rising by 2.60% during the week of October 20-24, underperforming the overall market by 0.28 percentage points [3]. - The China Securities National Security Index performed the best among military indices, increasing by 3.55% during the same period [3]. Group 2: Strategic Goals and Modernization - The 20th Central Committee's Fourth Plenary Session emphasized achieving the centenary military goals and advancing the modernization of national defense and the military [3]. - Key strategies include implementing Xi Jinping's strong military thought, adhering to the Party's absolute leadership over the military, and advancing the integration of mechanization, information technology, and intelligence [3]. - The session outlined a "three-step" strategy for modernization, focusing on political, reform, technological, talent, and legal aspects of military development [3].