【申万宏源策略 | 国内政策】励精图治—十五五规划十大投资机会梳理

Core Viewpoint - The article outlines the investment opportunities and strategic directions for China's "14th Five-Year Plan" (十四五) and "15th Five-Year Plan" (十五五), emphasizing the importance of emerging industries and future technologies as key drivers for economic growth and development in the coming decade [1][24]. Summary by Sections Introduction - Great Power Responsibility - The article highlights China's transition from being an adapter of global rules to a co-builder and responsible stakeholder in international governance, as evidenced by recent speeches from Chinese leaders [2][3]. Comparison of 14th and 15th Five-Year Plans - The 15th Five-Year Plan places greater emphasis on modernizing the industrial system and enhancing technological self-reliance, reflecting a shift in priorities compared to the previous plan [8][10]. Top Ten Investment Directions of the 15th Five-Year Plan - The article identifies ten key sectors for investment during the 15th Five-Year Plan, including: 1. Artificial Intelligence 2. Robotics 3. Aerospace 4. Drones/Low-altitude Economy 5. Strategic Resource Metals 6. Shipping 7. Controlled Nuclear Fusion 8. Energy Storage 9. Brain-Computer Interfaces 10. Innovative Pharmaceuticals [1][24][25]. Emerging Pillar Industries and Future Industries - The plan aims to develop emerging pillar industries such as new energy and new materials, which are expected to create trillion-yuan markets. It also emphasizes the need for forward-looking layouts in future industries like quantum technology and hydrogen energy [24][27]. Focus on Future Industries - The article stresses the importance of focusing on future industries, including future information, future space and security, future energy, and future health, as key areas for capital market attention [28][29]. National Security and Technological Development - The article discusses the integration of national security with technological advancements, particularly in aerospace and defense, highlighting the need for a robust national security framework that supports innovation and development in these sectors [11][18][35]. Conclusion - The overall message of the article is that the 15th Five-Year Plan represents a significant opportunity for investment in emerging technologies and industries, which are crucial for China's economic transformation and global competitiveness in the next decade [24][27].