刚刚闭幕的中央经济工作会议，以及前不久党的二十届四中全会，都对"十五五"时期加快构建新发展格 局，着力推动高质量发展作出战略部署，为金融强国、资本市场高质量发展赋予新使命、明确新方向。 作为资本市场的重要机构投资者，公募基金是连接实体经济与居民财富的关键纽带，其发展成效直接关 系到金融强国建设的成色和中国式现代化的推进质效。 金融赋能新质生产力发展 中央经济工作会议指出，"因地制宜发展新质生产力""坚持创新驱动，加紧培育壮大新动能""创新科技 金融服务"。新质生产力的核心是科技创新，而科技创新具有投入大、周期长、风险高的特征，迫切需 要长期资本的精准赋能。作为专业机构投资者，公募基金须当好"耐心资本"，做时间的朋友，做创新的 伙伴，助力 "长钱长投"市场生态建设。 华夏基金秉承"研究创造价值"的投资理念，坚持价值投资、长期投资，构建适应新质生产力的投研体 系，未来将更多地关注技术壁垒、研发投入、产业链地位等长期成长要素，鼓励投研人员深入产业链一 线，发掘具备核心技术、代表中国未来竞争力的优质企业，力争发挥桥梁纽带作用，形成对新质生产力 的长期稳定支持。华夏基金前期还成立了第一家公募基金股权子公司，后续将持续挖 ...

Group 1 - The launch of the centralized bond lending business by the Central Clearing Company and the Interbank Lending Center on October 10 marks an innovation in China's bond market, with 78 institutions participating, including 21 major brokerages [1] - The new business model is expected to enhance the competitiveness of leading brokerages like CITIC Securities and Guotai Junan in fixed income, optimize asset-liability management, and broaden revenue sources for the brokerage sector [1] - The mechanism aims to improve bond liquidity, reduce transaction costs, and support efficient asset allocation for investors, contributing positively to the stability of the financial market [1] Group 2 - Public funds are intensively focusing on the equity market in the fourth quarter, with 86 new fund products launched by October 11, of which equity products account for 76.7% [2] - The surge in stock fund issuance, particularly in the Sci-Tech Innovation Board and high-end manufacturing sectors, indicates a growing preference for growth assets among investors [2] - The increased allocation to the Hong Kong stock market is expected to boost sentiment in Chinese technology and financial sectors, reflecting a recovery in market risk appetite [2] Group 3 - In September, the number of private securities funds registered reached 1,028, showing a year-on-year increase of 171.24%, despite a slight month-on-month decline [3] - This significant growth in private fund registrations indicates a rising enthusiasm for private products and is likely to enhance the market position of leading private fund companies [3] - The influx of new capital is anticipated to improve market liquidity, particularly benefiting small-cap growth stocks and quantitative strategy-related assets [3] Group 4 - The auction of over 40 million shares of Huachuang Yunxin ended without any bids, despite attracting significant attention, highlighting a disparity in market valuation for the company [4] - The failed auction may put short-term pressure on the stock price and require time for investor confidence to recover [4] - Increased judicial disposals in the financial technology sector could raise concerns about the stability of company shares, potentially leading funds to concentrate on companies with solid fundamentals [5]

Group 1: Cross-Border E-Commerce - Lazada, a cross-border e-commerce platform under Alibaba, has achieved its first system-level integration with Tmall, facilitating easier access for Tmall merchants to Southeast Asian markets [1] - The continuous "increase in personnel" within Chinese cross-border e-commerce platforms is aiding Chinese products in entering global markets more conveniently, thus expanding market reach and providing overseas consumers with a richer product selection [1] Group 2: A-Share Market Performance - As of October 12, 2023, 51 A-share listed companies have disclosed their Q3 performance forecasts, with 42 companies reporting positive expectations, resulting in a pre-joy ratio of 82.35% [2] - Following the release of performance forecasts, some companies have seen significant stock price increases, indicating positive market sentiment [2] Group 3: Low Altitude Economy - The second China (Xi'an) International Low Altitude Economic Development Conference showcased various new products and technologies in the low-altitude intelligent manufacturing sector, including drones and eVTOLs [3] - The Civil Aviation Administration of China predicts that the low-altitude economy market will reach 1.5 trillion yuan by 2025 and is expected to exceed 3.5 trillion yuan by 2035 [3] Group 4: Customized Index Funds - Customized index funds are experiencing new opportunities for growth, with a significant increase in scale due to unique compilation and market trends [4] - Industry insiders believe that the differentiated positioning of customized index funds represents a blue ocean market, but true breakthroughs require the discovery of unique features and the ability to adapt to market trends [4] Group 5: Hong Kong Stock Market - The global liquidity easing cycle has officially begun following the Federal Reserve's interest rate cut in September, leading to a consensus among institutions to increase allocations in Hong Kong stocks [5] - Hong Kong stocks are viewed as being in an "valuation trough" and are expected to benefit from a weaker dollar and the revaluation of RMB assets, making them attractive for investment [5] - Data shows that several Hong Kong stock-related ETFs have seen significant inflows, with the Fuguo Hong Kong Stock Connect Internet ETF gaining 11.042 billion yuan in net inflows since September [5] Group 6: Didi's Entry into Low Altitude Economy - Didi has established a new company focused on low-altitude technology, signaling a significant move into the low-altitude economy by a major transportation player [6] - The large-scale application of eVTOLs is expected to follow a "to G/to B, then to C" path, with platform companies initially procuring aircraft to provide services to the public [6] Group 7: Public Fund Market - The number of newly launched public funds has significantly increased in October, with 86 products confirmed as of October 11, 2023, indicating a potential post-holiday issuance peak [8] - Equity products dominate the new fund issuance, accounting for 76.7% of the total, reflecting a renewed interest in equity assets [8] - The focus on technology innovation and high-end manufacturing sectors is evident in the new product launches, with public fund managers showing optimism towards the equity market [8] Group 8: Livestock Market Trends - The domestic pig market has not seen the expected demand surge during the recent holiday season, with prices continuing to decline [10] - As of October 10, 2023, the futures market for live pigs has dropped to 11,320 yuan per ton, down over 40% from the high of 19,010 yuan per ton in August 2022 [10] Group 9: Lithium Battery Market in Low Altitude Economy - Numerous lithium battery manufacturers are competing in the low-altitude economy battery market, recognizing the potential of the eVTOL market [11] - The collaboration between lithium battery companies and eVTOL manufacturers is entering a new phase, which may help address the power supply challenges faced by eVTOLs [11] Group 10: Universal Insurance Products - As of October 12, 2023, 269 universal insurance products have disclosed their September settlement rates, with an average rate of 2.68%, down approximately 18 basis points year-on-year [12] - The continuous decline in settlement rates is attributed to pressures on investment returns, efforts by insurance companies to reduce liability costs, and regulatory measures to mitigate risks [12] Group 11: Convertible Bond Market - The convertible bond market has seen active trading this year, with transaction volumes increasing by over 37% year-on-year, although the overall market size has contracted [13] - Experts believe that changes in supply and demand dynamics may drive further valuation increases in convertible bonds, presenting investment opportunities [13]