"十五五"规划建议为何"点名"脑机接口？ "十五五"规划建议明确"前瞻布局未来产业"，其中提出推动脑机接口等成为新的经济增长点。这将进一 步推动脑机接口从实验室向产业化阶段迈进，让"心想事成"成为科技赋予的可能。 何为脑机接口？ 许多人对脑机接口的理解，源自科幻电影：脑后接入线缆，就能在虚拟世界"畅游"；用"意念"操控飞行 器…… "脑机接口工作机理并不复杂，捕捉大脑电信号的微妙变化、解码大脑意图、实现'意念'控制'动作'，不 动手也能隔空操控机器。"北京脑科学与类脑研究所所长罗敏敏说。 创新成果持续涌现、应用探索不断深入，脑机接口市场规模正在进一步扩大。数据显示，预计到2027年 我国脑机接口市场规模将超过55亿元。 为让新技术稳妥驶上"快车道"，政策方面也在不断发力。 2025年7月，工业和信息化部等七部门联合印发关于推动脑机接口产业创新发展的实施意见，提出到 2027年，脑机接口关键技术取得突破；到2030年，综合实力迈入世界前列。国家医保局印发《神经系统 类医疗服务价格项目立项指南（试行）》，设立了侵入式脑机接口置入费、取出费等价格项目。北京、 上海等地发布行动方案，针对脑机接口领域的监管政策、产业集 ...

新华社北京11月18日电（记者周圆）"十五五"规划建议明确"前瞻布局未来产业"，其中提出推动脑机接 口等成为新的经济增长点。这将进一步推动脑机接口从实验室向产业化阶段迈进，让"心想事成"成为科 技赋予的可能。 何为脑机接口？ 创新成果持续涌现、应用探索不断深入，脑机接口市场规模正在进一步扩大。数据显示，预计到2027年 我国脑机接口市场规模将超过55亿元。 为让新技术稳妥驶上"快车道"，政策方面也在不断发力。 许多人对脑机接口的理解，源自科幻电影：脑后接入线缆，就能在虚拟世界"畅游"；用"意念"操控飞行 器…… 2025年7月，工业和信息化部等七部门联合印发关于推动脑机接口产业创新发展的实施意见，提出到 2027年，脑机接口关键技术取得突破；到2030年，综合实力迈入世界前列。国家医保局印发《神经系统 类医疗服务价格项目立项指南（试行）》，设立了侵入式脑机接口置入费、取出费等价格项目。北京、 上海等地发布行动方案，针对脑机接口领域的监管政策、产业集群等给出发展方向…… "脑机接口工作机理并不复杂，捕捉大脑电信号的微妙变化、解码大脑意图、实现'意念'控制'动作'，不 动手也能隔空操控机器。"北京脑科学与类脑研究 ...

新华社北京11月18日电（记者周圆）"十五五"规划建议明确"前瞻布局未来产业"，其中提出推动脑机接 口等成为新的经济增长点。这将进一步推动脑机接口从实验室向产业化阶段迈进，让"心想事成"成为科 技赋予的可能。 目前，脑机接口正在多个领域铺开应用，其中医疗健康无疑是最具活力的应用场景之一。 今年3月，在首都医科大学宣武医院，一位因渐冻症导致言语障碍的患者完成手术植入"北脑一号"。不 久，患者就能解码输出近百个常用语句，例如"我想吃饭""请帮我找医生"等。 创新成果持续涌现、应用探索不断深入，脑机接口市场规模正在进一步扩大。数据显示，预计到2027年 我国脑机接口市场规模将超过55亿元。 为让新技术稳妥驶上"快车道"，政策方面也在不断发力。 2025年7月，工业和信息化部等七部门联合印发关于推动脑机接口产业创新发展的实施意见，提出到 2027年，脑机接口关键技术取得突破；到2030年，综合实力迈入世界前列。国家医保局印发《神经系统 类医疗服务价格项目立项指南（试行）》，设立了侵入式脑机接口置入费、取出费等价格项目。北京、 上海等地发布行动方案，针对脑机接口领域的监管政策、产业集群等给出发展方向…… 何为脑机接口？ ...

Core Viewpoint - The brain-computer interface (BCI) is recognized as a disruptive core component of the new productive forces, breaking physical barriers between the brain and the external world, and enabling direct control of devices through thought, thus transitioning from science fiction to reality [1] Group 1: Global Competition and Investment - Major countries have recognized the strategic value of BCIs, leading to significant investments and initiatives to secure a competitive edge in brain science [2] - The United States has been a leading player, launching the BRAIN Initiative with over $1 billion in initial funding and a planned total investment of $4.5 billion over 12 years [3][4] - The European Union has established the Human Brain Project, involving 19 countries and 155 institutions, with an initial investment of nearly €607 million and a total planned investment of €1 billion [5] Group 2: Policy Evolution in China - China's policy has evolved from recognizing brain science as a frontier field in the 12th Five-Year Plan to promoting industrialization in the 14th Five-Year Plan, with significant funding and strategic goals set for 2027 and 2030 [6][7] - The Ministry of Science and Technology initiated a major project in 2021 with an initial funding of ¥3.148 billion, with future funding expected to reach hundreds of billions [7] Group 3: Technological Breakthroughs - The successful commercialization of BCIs relies on advancements in both hardware and software [8] - Hardware improvements focus on flexible, miniaturized, and high-density electrodes, while software advancements enhance signal decoding and feedback mechanisms [9][13] - The shift from open-loop to closed-loop systems allows for two-way interaction, expanding the application scope of BCIs [13] Group 4: Domestic Industry Landscape - The BCI sector in China is witnessing a surge of interest from various companies, each leveraging their technological strengths to drive commercialization [14] - Companies like Chengyitong focus on rehabilitation medical devices, while Xiangyu Medical has developed a comprehensive system for BCI technology, including hardware and algorithms [14] - The industry is in its early commercialization phase, with investment themes centered around clinical progress for invasive products and commercialization timelines for non-invasive products [14]

Core Insights - Sichuan is accelerating the development of frontier technologies such as the metaverse and brain-computer interfaces (BCI), establishing demonstration scenarios in smart manufacturing and cultural tourism, leading to a positive industrial development trend [1][3] - A public empowerment platform for the metaverse industry ecosystem in Sichuan is being co-built by relevant departments and enterprises, aiming to integrate resources, technological achievements, case studies, and industrial ecology [1][4] Industry Overview - The metaverse industry is entering a new phase characterized by technological breakthroughs and a shift from virtual to real applications, with significant advancements in interaction technologies like BCIs, spatial computing, and artificial intelligence [2] - The global metaverse market is projected to grow at a compound annual growth rate (CAGR) of 50.74% from 2022 to 2030, with the domestic market expected to exceed 24,000 million by 2026 [2] Sichuan's Position - Sichuan has established a strong foundation for the metaverse and BCI industries, with the "Western Brain Valley" in Chengdu's Jinniu District operational, leveraging clinical resources from Sichuan University [4] - The province faces challenges such as financing and patent delays, with an average patent authorization time of 2.5 years compared to the national average of over one year [4] - The Sichuan government is promoting innovation and ecosystem building through initiatives like the "Sichuan Brain-Computer Interface and Human-Machine Interaction Industry Breakthrough Action Plan (2025-2030)" [3][4]

Core Insights - The Chinese government aims for breakthroughs in brain-computer interface (BCI) technology by 2027 and to elevate its comprehensive strength to a world-leading position by 2030 [1][14] - The global BCI industry has seen significant growth, with over 800 companies, primarily in the US and China, and a market size reaching several billion dollars, projected to exceed $10 billion by 2030 [1][2] Industry Overview - BCI technology establishes direct communication pathways between the brain and external devices, focusing on interpreting brain activity and controlling devices or providing neural stimulation [2] - The BCI industry is segmented into upstream (electrodes and chips), midstream (data collection and processing), and downstream (medical, consumer, and industrial applications) [2] - The distribution of global BCI companies shows that 8% are in upstream, 37% in midstream, and 55% in downstream sectors [2] Investment Trends - Since 2021, investment in the downstream BCI sector has surged, indicating increased investor confidence and a clearer direction for the industry [3] - The global BCI investment landscape has seen over 1,000 disclosed transactions totaling nearly $10 billion as of April 2025 [2][3] - The medical application market for BCI is projected to reach $40 billion by 2030 and exceed $145 billion by 2040 [3] Global Research Initiatives - Many countries, including the US and EU, have prioritized brain science research, with significant funding allocated to various brain-related projects [10] - The US "Brain Initiative" has invested over $4 billion from 2014 to 2023, focusing on advancing treatments for brain diseases [10] - The EU's "Human Brain Project" involved 11.4 billion euros over ten years, engaging numerous research institutions [10] Challenges and Development Needs - The BCI field faces several challenges, including the lack of standardized components, varying individual application outcomes, and high valuations of some companies amid rapid capital influx [11] - Ethical issues, such as privacy protection and data security, remain complex and unresolved [11] China's BCI Landscape - China has over 200 BCI companies, with a concentration in major provinces like Beijing, Guangdong, and Zhejiang [13] - The Chinese government has initiated the "Brain Plan" and included brain science in major national innovation projects, accelerating industry development [13][14] - The National Healthcare Security Administration has laid the groundwork for clinical applications of BCI technologies, indicating a pathway for commercialization [14]

Core Insights - The report highlights a stable economic environment in China, with a 3.5% year-on-year growth in total goods trade value for the first seven months of 2025, amounting to 25.7 trillion RMB [4] - The report indicates that the core Consumer Price Index (CPI) has shown a continuous year-on-year rebound, while the Producer Price Index (PPI) has seen a narrowing decline [5] - The report emphasizes the government's commitment to maintaining strict controls on the issuance and listing of new stocks, preventing large-scale market expansion [5] Industry Dynamics - Seven departments have issued a document to promote the development of the brain-computer interface industry, which is expected to boost the sector. Related stocks include Sanbo Brain Science (301293) and Xiangyu Medical (688626) [6] - A plan to construct and renovate 300,000 kilometers of rural roads by 2027 is expected to support the infrastructure sector. Related stocks include China Communications Construction (601800) and Baoli International (300135) [6] - The State Grid has reported a record high in electricity load for three consecutive days, indicating potential improvements in profitability for the power sector. Related stocks include Huayin Electric (600744) and Leshan Electric (600644) [6] Company Focus - BOE Technology Group (000725) is entering a rebalancing phase in the display industry, with MiniLED and OLED technologies expected to grow rapidly in the high-end market [7] - Shengtong Holdings (002599) is providing technical support for the World Robot Conference through its subsidiary Zhongming Robotics [7] - Berry Genomics (000710) plans to establish a joint venture to provide integrated testing services for newborns and children with genetic diseases [7] - Digital Certification (300579) is set to change its controlling shareholder to Beijing Data Group, while the actual controller remains a Beijing state-owned enterprise [7] Market Review and Outlook - On August 8, the market experienced narrow fluctuations with slight declines in the three major indices. The total trading volume in the Shanghai and Shenzhen markets was 1.71 trillion RMB, a decrease of 115.3 billion RMB from the previous trading day [8] - The report notes that over 2,800 stocks in the market declined, with sectors such as Xinjiang local stocks and high-speed rail showing gains, while AI application stocks faced significant drops [8] - The report mentions that the margin trading balance has returned to 2 trillion RMB for the first time in ten years, indicating an improvement in market risk appetite and a generally loose liquidity environment [8] - Three factors are expected to support a continued upward trend in the A-share market: stable economic performance, improving corporate profitability due to recent policies, and ample market liquidity [8]

Group 1 - The core viewpoint of the news is the establishment of the Hubei Brain-Computer Interface Industry Innovation Development Alliance, which aims to create a comprehensive ecosystem covering basic research, clinical transformation, and industrial application [1] - The alliance will leverage support from research teams at universities such as Huazhong University of Science and Technology and Wuhan University, and will collaborate with companies like Yirui Technology and Zhonghua Brain-Computer [1] - Recent favorable policies from multiple government departments emphasize the goal of developing 2 to 3 industrial clusters by 2027 and nurturing globally influential leading enterprises by 2030 [1] Group 2 - The A-share market has seen a surge in brain-computer interface concept stocks, driven by a combination of technological innovation and policy incentives [2] - The A-share market experienced a steady increase, with the Shanghai Composite Index reaching a high of 3645.37 points during the week of August 4 to August 8, marking a weekly increase of 2.11% [3] - The defense, non-ferrous metals, and machinery equipment sectors ranked as the top three in terms of weekly growth, each exceeding 5% [5] Group 3 - A survey indicated that nearly 70% of respondents reported making profits in the A-share market, with 58% earning within 10% [8] - The sentiment towards the A-share market is increasingly optimistic, with 47% of respondents identifying it as a "bull market," a 10 percentage point increase from the previous week [9] - The military industry sector has seen a significant increase in investor interest, rising 5 percentage points to 17%, while the technology sector also gained traction [13]

Core Viewpoint - The recent implementation of the "Implementation Opinions on Promoting the Innovation and Development of the Brain-Computer Interface Industry" by seven departments, including the Ministry of Industry and Information Technology, aims to achieve breakthroughs in key technologies by 2027 and establish an advanced technological, industrial, and standard system for the brain-computer interface industry [1] Group 1: Industry Development - The brain-computer interface industry is currently in its early development stage in China, necessitating the cultivation of leading enterprises with strong resource integration and technological capabilities [1] - The establishment of a "tropical rainforest" innovation ecosystem is essential, comprising leading enterprises ("tall trees") and innovative SMEs ("bushes") to foster a multi-layered, symbiotic environment [1][2] Group 2: Technological Advancements - Notable advancements include the semi-invasive "Beijing Brain No. 1" and invasive "Beijing Brain No. 2" intelligent brain-computer systems developed by the Beijing Brain Science and Brain-like Research Institute in collaboration with Beijing Chip Intelligence Technology Co., Ltd., both achieving world-leading levels [2] - The first prospective clinical trial of an invasive brain-computer interface system in China was successfully completed in March 2025, marking a significant milestone in the field [2] Group 3: Policy and Capital Support - A series of supportive policies have been introduced at both national and local levels to create a favorable environment for the brain-computer interface industry, including measures for the approval of medical devices based on brain-computer interface technology [3] - The National Medical Insurance Administration has initiated a pricing project specifically for new brain-computer interface technologies, facilitating their entry into clinical applications [3] - Significant capital interest is evident, with Shanghai Ladder Medical Technology Co., Ltd. completing a record-breaking 350 million yuan Series B financing round in February, indicating growing investment in the sector [3]