Core Viewpoint - The Central Economic Work Conference held on December 10-11 has outlined the direction for economic work in 2026, emphasizing a "steady progress" approach and a series of macro policies and industrial deployments that are expected to support the capital market [1] Policy Direction - The conference highlighted the need for a more proactive fiscal policy and moderately loose monetary policy, focusing on new infrastructure, livelihood projects, and urban renewal to stimulate demand in related industrial chains [3] - The balance between "stability" and "progress" is crucial, aiming to stabilize the economic fundamentals while fostering innovation and green transformation to enhance resource allocation efficiency [2] Investment Opportunities - Investment opportunities are anticipated in three main areas: 1. **Consumption Upgrade**: The focus on domestic demand is expected to benefit the consumer sector, particularly durable goods and smart consumption, supported by policies like trade-in incentives [5] 2. **New Quality Productivity**: Emphasis on innovation and technology breakthroughs, particularly in AI, semiconductors, and high-end manufacturing, is seen as a long-term investment theme [5] 3. **Infrastructure and Unified Market**: Traditional infrastructure sectors such as engineering machinery and building materials are expected to benefit from modernization projects, while logistics and supply chain services will gain from the construction of a unified national market [6] Investment Strategy - Institutions are adopting a balanced investment strategy, focusing on "growth offense + value defense" with four core sectors: 1. Technology growth related to new quality productivity, particularly in AI and autonomous technology [8] 2. Chinese advantages in overseas markets, focusing on the export of industry chains and brands, especially in new energy vehicles and energy storage [8] 3. Domestic demand-driven consumption and manufacturing sectors, emphasizing consumption upgrades and manufacturing recovery [8] 4. High dividend defensive sectors as a stabilizing component of the investment portfolio [8]

Core Insights - The 2025 Cross-Strait Elderly Industry Expo opened in Fuzhou, themed "Cross-Strait Collaboration for Elderly Welfare and New Economy" [1] - The event attracted over 200 exhibitors from both sides of the Taiwan Strait, showcasing products and services across an area of 11,000 square meters [1] - The expo has played a significant role in promoting the development of the elderly industry in Fujian Province and enhancing cross-strait cooperation over the past 10 years [1] Industry Highlights - The expo features a special area for Taiwanese products, focusing on "Empowering All Ages for Elderly Care, Building Health and Wellness Together" [1] - Taiwanese exhibitors showcased advanced service models and products in areas such as refined care, health foods, and age-friendly design [1] - The event includes the sixth Cross-Strait Elderly Industry Development Forum and a specialized forum on diversified elderly care industry integration [2] Cultural Exchange - Wang Jianmin, chairman of the Cross-Strait Crayon Art Creative Association, emphasized the importance of integrating art therapy with elderly care, having launched art therapy courses for seniors in Taiwan [1][2] - Wang aims to introduce the art therapy model and training for instructors to the mainland, enriching the lives of the elderly and promoting cultural exchange between the two sides [2]