Experience of A-shares After the Conference

CMS pointed out that the market style usually dominates 7 days after the Central Economic Work Conference, especially in the past 5 years. The probability of rising in the oil and petrochemical, telecommunications, and electronics industries is relatively high, while the average excess returns in the social services, public utilities, coal, and media industries are even higher. Key industries mentioned in the conference often become the focus of economic work in the following year, with increased policy support. Attention should be paid to the low-altitude economy in 2023 and the rectification of involution in 2024