1、 ANALYST CERTIFICATIOANALYST CERTIFICATION AN AND IMPORTANT DISCLOSND IMPORTANT DISCLOSURES ARE LOCATED IN URES ARE LOCATED IN APPENDIX A.APPENDIX A.Yuanta does and seeks to do business with companies covered in its research reports.As a result,investors should be aware that the firm may have a conf

2、lict of interest that could affect the objectivity of this report.Investors should consider this report as only a single factor in making their investment decision.Figure 1:Figure 1:Related playsRelated plays Name Ticker Close(11/3)RMB Rating Jiangsu Yuyue Medical Equipment and Supply 002223.SZ 40.2

3、3 N.A.Zhejiang Dian Diagnostics 300244.SZ 76.8 N.A.Sinocare 300298.SZ 37.37 N.A.Tonghua Dongbao Pharmaceutical 600867.SH 24.22 N.A.Huadong Medicine 000963.SZ 74.5 N.A.Tasly 600535.SH 36.38 HOLD-OPF By-health 300146.SZ 33.71 BUY Nanjing Xinjiekou Department Store 600682.SH 37.53 N.A.Allwin Telecommun

4、ication 002231.SZ 15.61 N.A.Zhejiang Double Arrow Rubber 002381.SZ 13.84 N.A.Source:Wind,Yuanta China Strategy Empowered by Healthy China policy,silver economy enters spotlight T The communique of the Fifth Plenary Session he communique of the Fifth Plenary Session of the 18th CPC Central Committee

5、published on Oct 29 set the strategy for the Healthy China Plan(2016-20),which will likely be launched in early 2016.In our view,the market size related to the Healthy China Plan will likely reach RMB10 tn during the 13th FYP period.Related industries such as the medical industry and the“silver econ

6、omy”are likely beneficiaries.Three drivers to boost silver Three drivers to boost silver economyeconomy:1)1)China currently has 215 mn people over 60 years old and the number may grow to 310 mn by 2030,leading to surging demand for elder-care services.2)2)The majority of Chinas super high net-worth