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2025-10-24 11:43:01 JPMorgan has released a research report on China's fourth plenum and the 15th Five-Year Plan, pointing out that the communique highlights the prioritization of high-quality development and technological self-reliance and reaffirms the modernization goal for 2035. According to the report, the communique places building a modern industrial system as the top priority instead of second place as the 14th Five-Year Plan did, prioritizing manufacturing over other service industries, with a focus on advanced technology and innovation. Support for service industry policies will continue, but will be secondary to manufacturing, and may not include digital indicators for services in the 15th Five-Year Plan. Stimulating demand is the third major task. With no mention of anti-involution measures as expected, the communique still emphasized establishing a unified national market. ~ AAStocks Financial News Web Site: www.aastocks.com | |