沈丹阳表示，制定和实施好"十五五"规划，对于推动我国经济社会持续健康发展，分阶段有步骤推进中 国式现代化，具有重大而深远的意义。目标就是方向，规划重在落实。习近平总书记和党中央的领航掌 舵，是我们实现"十五五"目标的最大信心、最大底气。在以习近平同志为核心的党中央坚强领导下，全 国人民团结一心、奋力拼搏，一定能够把"十五五"宏伟蓝图变为美好现实。 报告会结束后，沈丹阳还来到长春市南关区民康街道九圣祠社区和中国第一汽车集团有限公司开展宣 讲，与基层干部群众和企业职工互动交流。 报告会上，沈丹阳紧紧围绕习近平总书记在党的二十届四中全会上的重要讲话精神和全会《建议》，从 全会的重大意义和深远影响，"十五五"时期在基本实现社会主义现代化进程中的重要地位，"十五五"时 期经济社会发展的指导方针、主要目标、战略任务、重大举措和根本保证等方面，对党的二十届四中全 会精神作了系统宣讲和深入阐释。 新华社长春11月6日电（记者薛钦峰、孙鹏程）学习贯彻党的二十届四中全会精神中央宣讲团报告会11 月6日在吉林省长春市举行。中央宣讲团成员，国务院研究室党组书记、主任沈丹阳作宣讲报告。 ...

Core Viewpoint - The A-share and Hong Kong markets experienced a strong rally, driven by technology growth and cyclical resource sectors, leading to a comprehensive rise in major indices [1][2]. Market Overview - A-share market showed a strong upward trend with major indices all in the green; the Shanghai Composite Index rose nearly 1% to reclaim the 4000-point mark, while the Shenzhen Component and ChiNext Index increased by 1.73% and 1.84% respectively [2]. - The STAR 50 Index outperformed with a significant rise of 3.34%, indicating a robust "volume and price rise" scenario with trading activity notably increasing, as total trading volume exceeded 2 trillion yuan, a significant increase from the previous trading day [2]. - The Hong Kong market also saw strong gains, with the Hang Seng Index closing up 2.12% and the Hang Seng Technology Index surging 2.74%, approaching the psychological level of 6000 points [2]. Sector Performance - The A-share market displayed a dual mainline structure of "technology + cyclical" sectors, with the computing hardware industry chain performing strongly, particularly in storage chips and CPO-related concepts, with multiple stocks hitting the daily limit and reaching historical highs [3]. - The phosphate chemical sector experienced a collective surge, reflecting high market interest in this chemical sub-sector, with several stocks also hitting the daily limit [3]. - In the Hong Kong market, the semiconductor sector showed strong performance, with leading stocks seeing significant gains [4]. Investment Strategy Recommendations - Investment in the fourth quarter should align closely with policy guidance and industry trends, focusing on three main lines: technology growth sectors, cyclical and resource products, and policy-driven opportunities [6][7]. - In the technology growth sector, emphasis should be placed on breakthroughs in technology and capital expenditure expansion, particularly in the AI industry chain, where computing hardware and storage chips are expected to see strong performance due to overseas technological iterations and domestic computing power construction [6]. - For cyclical and resource products, attention should be given to the price elasticity under global easing expectations, particularly in precious metals like gold and copper, which are expected to benefit from a weaker dollar [6].

Core Viewpoint - The China International Import Expo serves as a significant platform for connecting businesses and purchasers, promoting Sino-U.S. economic and trade cooperation [2] Group 1 - The president of the U.S.-China Business Council, Tan Sen, emphasized the importance of the Expo in facilitating business connections [2] - The "14th Five-Year Plan" is expected to create new opportunities for cooperation between Chinese and U.S. enterprises [2]

侯建国在宣讲中表示，要迅速掀起学习宣传贯彻全会精神的热潮，把思想和行动统一到以习近平同志为 核心的党中央决策部署上来，主动对标对表全会部署要求，强化党建引领，高标准做好"十五五"规划编 制，科学论证重点领域布局，精心谋划重大改革思路举措，着力加强使命驱动的建制化基础研究，加快 突破关键核心技术，努力产出一批关键性、原创性、引领性重大科技成果，抢占一批科技制高点，助力 早日实现高水平科技自立自强，为强国建设、民族复兴伟业提供有力支撑。 新华社北京11月6日电 学习贯彻党的二十届四中全会精神中央宣讲团11月5日在中国科学院宣讲，中央 宣讲团成员，中国科学院院长、党组书记侯建国作宣讲报告。 报告会上，侯建国围绕学习贯彻习近平总书记在党的二十届四中全会上的重要讲话和全会精神，对全会 的重大意义和"十五五"时期在基本实现社会主义现代化进程中的重要地位进行了深入阐述，对"十五 五"时期经济社会发展的指导思想、重大原则、主要目标、战略任务、重大举措和根本保证等进行了全 面宣讲和系统解读。 6日上午，侯建国到中国科学院国家空间科学中心调研，与参与怀柔综合性国家科学中心建设的一线科 研人员、青年学生代表互动交流。 ...

Group 1 - The report meeting focused on the spirit of the 20th Central Committee's Fourth Plenary Session and its significance for economic and social development during the 14th Five-Year Plan period [2][3] - The meeting emphasized the importance of aligning thoughts and actions with the spirit of the plenary session, encouraging party members and the public to support the established tasks [3] - The need for effective learning and training was highlighted, integrating the spirit of the plenary session with Xi Jinping's thoughts and previous important speeches [3] Group 2 - The meeting was attended by key city leaders and was conducted via a teleconference format, ensuring broad participation across various districts [4] - The report was delivered by Xu Yangguo, who provided a comprehensive interpretation of the plenary session's content and its practical implications for Wuhan [2][3]

侯建国在宣讲中表示，要迅速掀起学习宣传贯彻全会精神的热潮，把思想和行动统一到以习近平同志为 核心的党中央决策部署上来，主动对标对表全会部署要求，强化党建引领，高标准做好"十五五"规划编 制，科学论证重点领域布局，精心谋划重大改革思路举措，着力加强使命驱动的建制化基础研究，加快 突破关键核心技术，努力产出一批关键性、原创性、引领性重大科技成果，抢占一批科技制高点，助力 早日实现高水平科技自立自强，为强国建设、民族复兴伟业提供有力支撑。 新华社北京11月6日电 学习贯彻党的二十届四中全会精神中央宣讲团11月5日在中国科学院宣讲，中央 宣讲团成员，中国科学院院长、党组书记侯建国作宣讲报告。 报告会上，侯建国围绕学习贯彻习近平总书记在党的二十届四中全会上的重要讲话和全会精神，对全会 的重大意义和"十五五"时期在基本实现社会主义现代化进程中的重要地位进行了深入阐述，对"十五 五"时期经济社会发展的指导思想、重大原则、主要目标、战略任务、重大举措和根本保证等进行了全 面宣讲和系统解读。 6日上午，侯建国到中国科学院国家空间科学中心调研，与参与怀柔综合性国家科学中心建设的一线科 研人员、青年学生代表互动交流。 ...

Core Points - The report emphasizes the importance of studying and implementing the spirit of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, highlighting its significance for the modernization process during the "14th Five-Year Plan" period [1] - The report outlines the guiding ideology, major principles, main goals, strategic tasks, significant measures, and fundamental guarantees for economic and social development during the "14th Five-Year Plan" [1] Group 1 - The need to rapidly promote the learning and implementation of the plenary session's spirit, aligning thoughts and actions with the decisions of the Central Committee led by Xi Jinping [1] - The importance of strengthening party leadership and ensuring high standards in the planning and compilation of the "14th Five-Year Plan" [1] - The focus on scientific validation of key areas and careful planning of major reform initiatives to drive mission-oriented foundational research [1] Group 2 - The goal to accelerate breakthroughs in key core technologies and produce significant, original, and leading scientific achievements [1] - The aim to seize technological high ground to support the construction of a strong nation and the great rejuvenation of the nation [1] - Engagement with frontline researchers and young students to foster interaction and collaboration in scientific endeavors [1]

Core Viewpoint - The report emphasizes the importance of implementing the spirit of the 20th Central Committee's Fourth Plenary Session, focusing on the significant role of the "14th Five-Year Plan" in achieving socialist modernization [1] Group 1: Major Significance and Goals - The report elaborates on the major significance of the 20th Central Committee's Fourth Plenary Session and its implications for the "14th Five-Year Plan" [1] - It outlines the guiding ideology, major principles, primary goals, strategic tasks, significant measures, and fundamental guarantees for economic and social development during the "14th Five-Year Plan" period [1] Group 2: Implementation and Action - There is a call to rapidly promote the learning and implementation of the session's spirit, aligning thoughts and actions with the decisions of the Central Committee led by Xi Jinping [1] - The report stresses the need for high standards in the preparation of the "14th Five-Year Plan," including scientific validation of key areas and careful planning of major reform initiatives [1] Group 3: Technological Development - The report highlights the importance of strengthening mission-driven foundational research and accelerating breakthroughs in key core technologies [1] - It aims to produce a series of critical, original, and leading technological achievements to support national construction and the rejuvenation of the nation [1]

研究员：聂嘉怡(股指) 021-60635735 niejiayi@ccb.ccbfutures.com 期货从业资格号：F03124070 研究员：何卓乔(宏观贵金属) 18665641296 hezhuoqiao@ccb.ccbfutures.com 期货从业资格号：F3008762 研究员：黄雯昕(宏观国债集运) 021-60635739 huangwenxin@ccb.ccbfutures.com 期货从业资格号：F3051589 宏观金融团队 请阅读正文后的声明 ＃summary＃ 每日报告 报告类型 股指日评 日期 2025 年 11 月 6 日 一、行情回顾与后市展望 1.1 行情回顾： 11 月 5 日，万得全 A 缩量上涨，低开后震荡走高，尾盘有所回落，收涨 0.34%， 全市超 3000 支个股上涨；沪深 300、中证 500、中证 1000 收盘分别上涨 0.19%、 0.26%、0.39%，上证 50 收盘下跌 0.17%，中小盘股表现更优。 | 表1:股指期货、现货行情数据 | | --- | 资料来源：Wind，建信期货研究发展部 1.2 后市展望： 外围市场方面，昨日美股市场多重 ...

Core Viewpoint - The article emphasizes China's proactive approach to expanding high-level openness and enhancing international cooperation, particularly in the context of the "15th Five-Year Plan" [3][4]. Group 1: Expansion of Openness - The "15th Five-Year Plan" suggests expanding high-level openness while balancing domestic needs and global expectations [5][6]. - Key strategies include optimizing the layout of regional openness and creating diverse open platforms [7]. Group 2: Trade Innovation and Development - The plan aims to optimize and upgrade goods trade, expand intermediate goods trade, and promote balanced import and export development [8]. - There is a strong focus on developing service trade, encouraging service exports, and enhancing the management of cross-border service trade [8]. Group 3: Investment Cooperation - The strategy includes creating new advantages for attracting foreign investment, reducing the negative list for foreign investment access, and promoting reinvestment by foreign entities [10]. - It emphasizes the importance of a transparent and stable institutional environment to facilitate foreign investment [10]. Group 4: Belt and Road Initiative - The article highlights the need for strengthening strategic alignment with countries involved in the Belt and Road Initiative and enhancing cooperation in various sectors such as green development and digital economy [11]. - It stresses that the Belt and Road Initiative is a collaborative effort rather than a unilateral endeavor [11].