Core Insights - The Chinese government aims to optimize and enhance traditional industries, estimating an additional market space of approximately 10 trillion RMB over the next five years [1][2] Group 1: Traditional Industry Enhancement - The strategy emphasizes the importance of building a modern industrial system, with a focus on solidifying and expanding the foundation of the real economy [1] - Key tasks include upgrading traditional industries such as chemicals, machinery, and shipbuilding to improve their global competitiveness [1] - The initiative is expected to accelerate qualitative improvements and reasonable quantitative growth in traditional industries, releasing significant development momentum and benefits for people's livelihoods [1] Group 2: Emerging and Future Industries - The plan includes fostering new pillar industries and accelerating the development of strategic emerging industry clusters such as new energy, new materials, aerospace, and low-altitude economy [2] - It aims to lay the groundwork for future industries, promoting advancements in quantum technology, biomanufacturing, hydrogen energy, nuclear fusion, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communications [2] - These emerging sectors are projected to generate a market scale equivalent to recreating China's high-tech industry over the next decade, injecting continuous new momentum into the economy [2] Group 3: Service Industry and Infrastructure Development - The strategy promotes high-quality and efficient development of the service industry, aiming to enhance the integration of modern services with advanced manufacturing and modern agriculture [2] - It includes actions to expand and improve service capabilities, which will help reshape the economic ecosystem and better meet the needs of the population [2] - The plan also focuses on constructing a modern infrastructure system, emphasizing coordinated planning and the construction of new-type infrastructure to enhance connectivity and safety [2]

广告等商务合作，请点击这里 围绕下一步培育和发展新质生产力，阴和俊说，持续增加高质量科技供给。统筹国家战略和经济社会发 展需求，加快布局实施国家重大科技项目，有组织推进战略导向的基础研究，强化关键共性技术、前沿 引领技术、现代工程技术和颠覆性技术创新，加强科技基础条件自主保障，推动国家战略科技力量协同 联动，加快产出一批重大标志性、原创性成果。 在支撑现代化产业体系建设方面，阴和俊说，统筹科技创新和产业发展，推动创新链产业链无缝对接。 在新一代信息技术、人工智能等领域培育壮大一批新兴产业，在量子科技、生物科技等领域布局建设未 来产业，抢占未来科技和产业制高点，积极运用数智技术改造提升传统产业，推动产业向智能化、绿色 化、融合化转型。 二十届四中全会部署科技创新引领发展新质生产力 阴和俊还表示，因地制宜发展新质生产力。加强对地方科技创新和产业布局的宏观指导和统筹协调，引 导地方立足资源禀赋锻造科技长板和产业特色，实现差异化发展。加强跨区域创新协同和产业协作，打 造一批世界级产业集群。推动有条件的地方围绕科技创新和产业创新深度融合，大胆探索、先行先试， 打造原始创新策源地和产业科技创新高地。(完) 中新社北京10 ...

Core Insights - The report emphasizes the importance of high-quality development, technological self-reliance, and deepening reforms as key goals for the 14th Five-Year Plan period [3][4][5][6] - It highlights the transition from traditional industries to strategic emerging industries, focusing on innovation-driven growth and intelligent manufacturing [5][6][7] - The future outlook suggests that technological self-reliance will be the main theme for the next five years, with significant growth expected in new strategic industries [7][8] Summary by Sections 12th Five-Year Plan - The core focus was on optimizing industrial structure and enhancing foundational capabilities, with key areas including modern agriculture, manufacturing upgrades, and strategic emerging industries [4] - The report notes that the growth sector's market share was only 14.5% at the beginning of the 12th Five-Year Plan, while traditional industries saw significant value increases due to urbanization and industrialization [4] 13th Five-Year Plan - The emphasis shifted to innovation-driven development and intelligent manufacturing, with a clear directive to implement the "Made in China 2025" initiative [5] - The report indicates that the market share of consumption rose to 25.47%, with a notable 78% increase in the consumption index net value during this period [5] 14th Five-Year Plan - The focus is on modernizing the industrial chain and ensuring technological self-sufficiency, with a push for new generation information technology and green industries [6] - The report highlights that the consumer sector's market share decreased to 23.94%, while the growth sector's share increased to 21.50%, indicating a shift in market dynamics [6] Future Outlook - The report anticipates that by 2024, the contribution of the "three new" economies to GDP will exceed 18%, with emerging industries like new energy and materials expected to drive significant market growth [7][8] - It identifies sectors with strong global competitiveness, such as general computing equipment and electronic chemicals, as key areas for investment during the 15th Five-Year Plan [12]

Core Viewpoint - The article discusses the key outcomes of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, particularly focusing on the approval of the "Suggestions on Formulating the 15th Five-Year Plan for National Economic and Social Development" which outlines strategic tasks and major initiatives for the upcoming five years [3][7][9]. Summary by Sections General Overview - The "Suggestions" consist of 15 parts and 61 articles, divided into three main sections: general principles, specific strategies, and concluding remarks [3][9]. - The first section highlights significant achievements during the "14th Five-Year" period and the importance of the upcoming "15th Five-Year" period for economic and social development [9]. Strategic Tasks - The "Suggestions" emphasize building a modern industrial system and strengthening the foundation of the real economy, focusing on intelligent, green, and integrated development [4][20]. - Key tasks include upgrading traditional industries, nurturing emerging industries, and promoting high-quality development in the service sector [4][22]. Economic and Social Development Goals - The main goals for the "15th Five-Year" period include achieving significant results in high-quality development, enhancing self-reliance in technology, and improving social civilization levels [16]. - The plan aims to ensure that by 2035, China will have fundamentally achieved socialist modernization, with the "15th Five-Year" period being crucial for laying the groundwork [17]. Agricultural Modernization - Agricultural modernization is identified as a critical area needing priority attention, with a focus on addressing rural issues and promoting urban-rural integration [18]. Infrastructure Development - The "Suggestions" call for the construction of a modern infrastructure system, enhancing connectivity and efficiency across various sectors [23]. Domestic Market Strengthening - The article highlights the importance of a strong domestic market as a strategic foundation for modernization, with efforts to eliminate market barriers and enhance regulatory frameworks [25][26]. Technological Innovation - Emphasis is placed on strengthening original innovation and tackling key core technologies, with a focus on strategic sectors such as integrated circuits and high-end equipment [29]. Open Economy - The "Suggestions" advocate for expanding autonomous openness, enhancing market access, and fostering international trade relationships [32][33]. Population Development - The plan includes initiatives to promote a family-friendly society, improve elderly care, and enhance the quality of life for the aging population [35][37]. Anti-Corruption Measures - The article concludes with a commitment to maintaining a robust anti-corruption stance, ensuring strict oversight of power and governance [39].

Market Performance - Major A-share indices experienced a strong rally, with the Shanghai Composite Index breaking previous highs and reaching a new high for the year at 3938.98 points, up 0.42% [1] - The Shenzhen Component Index rose by 1.3% to 13195.25 points, while the ChiNext Index increased by 2.09% to 3126.05 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.23 trillion yuan, indicating a significant increase in trading activity [1] Sector Performance - The technology growth sector showed strong performance across the board, with notable activity in storage chips, computing hardware, quantum technology, and commercial aerospace [2][5] - Specific stocks such as Shengyi Electronics surged by 20% to hit the daily limit, while other companies like Zhongji Xuchuang and Xiangnong Chip Innovation reached new highs [2][5] - The storage chip sector saw a collective rise in stock prices, driven by strong demand and supply constraints, with Zhongji Xuchuang increasing over 6% and Shengyi Electronics achieving a 20% limit up [5][8] Quantum Technology Developments - The quantum technology sector remained active, with companies like Dahua Intelligent and Geer Software achieving consecutive gains [10] - Recent advancements in quantum computing were reported, including Google's announcement of a verifiable quantum advantage and significant progress by China Telecom in quantum key distribution [13] - Analysts noted that quantum computing is becoming a disruptive frontier technology, with ongoing research and development expected to yield substantial progress in the next 5 to 10 years [13]

Economic Outlook - China's economic foundation is stable, with multiple advantages, strong resilience, and significant potential, indicating that the long-term positive support conditions and basic trends remain unchanged [2][5] - The "14th Five-Year Plan" has achieved significant development milestones, and the "15th Five-Year Plan" is crucial for solidifying foundations and comprehensive efforts [3][4] Strategic Development - The government aims to cultivate and expand emerging and future industries, focusing on strategic emerging industry clusters such as new energy, new materials, aerospace, and low-altitude economy [2][7] - Key areas for technological breakthroughs include integrated circuits, industrial mother machines, and high-end instruments, with a goal of achieving decisive breakthroughs in core technologies [2][9] Domestic Demand Expansion - The plan emphasizes the importance of expanding domestic demand, with initiatives to boost consumption and investment, and to implement major projects that enhance market access and participation [8] - A unified market system is proposed to eliminate local protectionism and market segmentation, thereby maximizing the benefits of China's large-scale market [8] Technological Innovation - The integration of technological innovation and industrial innovation is a priority, with a focus on original innovation and breakthroughs in key technologies [9][10] - The government plans to enhance the role of enterprises in technological innovation and support the development of high-tech enterprises and small and medium-sized technology firms [10] Social Development Goals - The "15th Five-Year Plan" outlines seven main goals, including significant improvements in high-quality development, technological self-reliance, social reform, cultural confidence, and environmental sustainability [6] - The plan aims to enhance the quality of life for citizens, improve public services, and strengthen national security [6] Market Openness - The government is committed to expanding market access and enhancing the business environment, particularly in the service sector, to align with international high-standard trade rules [11] - Efforts will be made to balance imports and exports, ensuring that both industrial transformation and the needs of citizens are met [11] Social Welfare Initiatives - The plan includes measures to create a family-friendly society, optimize childbirth support policies, and improve basic elderly care services [13] - There is a focus on developing integrated services for childcare and elderly care, as well as promoting the economic participation of older adults [13]

Market Performance - A-shares experienced a strong rally, with the Shanghai Composite Index breaking previous highs and reaching a new high for the year at 3938.98 points, up 0.42% [1] - The Shenzhen Component Index rose by 1.3% to 13195.25 points, while the ChiNext Index increased by 2.09% to 3126.05 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.23 trillion yuan, indicating a significant increase in trading activity [1] Sector Performance - The technology growth sector showed strong performance across the board, with notable activity in storage chips, computing hardware, quantum technology, and commercial aerospace [2][3] - Shengyi Electronics saw a 20% limit-up increase, while stocks like Zhongji Xuchuang and Xiangnong Chip Innovation reached new highs [2][3] - The storage chip sector experienced a collective surge, with multiple stocks in the computing hardware segment also showing significant gains [3] Company Highlights - Shengyi Electronics reported third-quarter earnings that exceeded expectations, with projected revenue between 6.6138 billion yuan and 7.0338 billion yuan, representing a year-on-year increase of 108% to 121% [5] - The company's net profit attributable to shareholders is expected to be between 1.074 billion yuan and 1.154 billion yuan, reflecting a year-on-year increase of 476% to 519% [5] Industry Trends - The storage market is experiencing a price surge due to supply constraints and rising production costs, particularly in NAND and DRAM segments [6][7] - The sentiment among storage manufacturers is leaning towards controlling inventory and holding back sales, which may lead to continued price increases in storage products [7] - Quantum technology remains a vibrant sector, with companies like Dahua Intelligent and Geer Software achieving consecutive gains, driven by advancements in quantum computing and communication technologies [10]

Group 1 - The core viewpoint emphasizes that technological innovation is essential for fostering new industries, models, and driving new productive forces, which is crucial for high-quality development [1] - The 20th Central Committee's Fourth Plenary Session outlines a clear strategy for implementing an innovation-driven development strategy during the "14th Five-Year Plan" period, focusing on major technological innovation tasks [1] - There is a commitment to increasing high-quality technological supply by aligning national strategies with economic and social development needs, and promoting significant original achievements in technology [1] Group 2 - The strategy includes supporting the construction of a modern industrial system by ensuring seamless integration of innovation chains and industrial chains, particularly in emerging fields like information technology and artificial intelligence [2] - Comprehensive deepening of the scientific and technological system reform is highlighted, with an emphasis on enhancing policy coordination and promoting collaboration among technology, finance, industry, education, and talent [2] - The approach encourages localized development of new productive forces, guiding regions to leverage their resource endowments for differentiated development and fostering world-class industrial clusters [2]

Core Viewpoint - The article discusses the key points from the press conference held by the Central Committee of the Communist Party of China, focusing on the spirit of the Fourth Plenary Session of the 20th Central Committee, emphasizing the importance of innovation and the development of emerging industries in China. Group 1: Economic Development - In 2024, the value added of China's "three new" economy is expected to exceed 18% of GDP [1] - The proposal for the 15th Five-Year Plan aims to cultivate emerging pillar industries and accelerate the development of strategic emerging industry clusters such as new energy, new materials, aerospace, and low-altitude economy, which could create several trillion-yuan markets [1] - The plan also emphasizes the forward-looking layout of future industries, promoting quantum technology, biomanufacturing, hydrogen energy, nuclear fusion energy, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communication as new economic growth points [1] Group 2: Future Industry Outlook - The emerging industries are expected to gain momentum and potentially recreate a high-tech industry landscape in China over the next decade [1]

中共中央今天（24日）上午举行新闻发布会，介绍和解读党的二十届四中全会精神。 国家发展改革委党组书记、主任郑栅洁介绍，创新育新，就是要培育壮大新兴产业和未来产 业。2024年，我国"三新"经济增加值占GDP比重超过18%。《中共中央关于制定国民经济和社 会发展第十五个五年规划的建议》提出打造新兴支柱产业，加快新能源、新材料、航空航天、 低空经济等战略性新兴产业集群发展，将催生数个万亿元级甚至更大规模的市场；《建议》还 提出前瞻布局未来产业， 推动量子科技、生物制造、氢能和核聚变能、脑机接口、具身智 能、第六代移动通信等成为新的经济增长点。这些产业蓄势发力，未来10年将再造一个中国高 技术产业。 来源丨央视新闻 编辑丨黎雨桐 一文看懂党的二十届四中全会公报，信息量太大 四中全会重要部署，释放关键信号 SFC 21君荐读 视频编辑丨许婷婷 ...