China's 15th Five-Year Plan - JP Morgan report

This source from JPMorgan Chase analyzes potential opportunities within China's 15th Five-Year Plan (2026-2030), highlighting "anti-involution" and service consumption as key investment themes. The report suggests that anti-involution measures, aimed at reducing overcapacity and restoring normal pricing, could significantly boost corporate earnings and drive a recovery in specific industries. Concurrently, the expansion of service consumption is identified as a crucial growth driver, given China's long-term goal of doubling GDP and disposable income by 2035, with healthcare, financial services, and cultural entertainment sectors poised to benefit. The analysis emphasizes that while supply-side innovation remains a priority, these demand-side and industry restructuring efforts are expected to stabilize market expectations and support the overall performance of the CSI 300 index through 2026.