Open a new Bureau and cultivate new machines. The new infrastructure that "burns" again in 2022 has become an important growth pole of China's economy in the year of the tiger.
During the Spring Festival, the national development and Reform Commission proposed to carry out infrastructure investment moderately ahead of schedule, emphasizing the promotion of new infrastructure construction; At the two provincial sessions in 2022, new infrastructure projects such as 5g and big data center were listed as key work. Many places across the country launched the "starting gun" for the construction of key projects and made a "good start" in the first quarter. This series of measures have also been responded by the A-share market. Infrastructure concept stocks have been highly praised and carried the banner of "a good start" in the year of the tiger.
There are various signs that the wind of steady growth is coming and new infrastructure is rising.
In the "troika", investment has always been regarded as an important force driving China's economy. As an important part of government investment, infrastructure investment is the top priority. At present, the policy of stabilizing growth is clear, and infrastructure construction is undoubtedly an important starting point for stabilizing growth.
After all, it is unrealistic for traditional infrastructure to maintain rapid growth after years of large-scale investment. On the contrary, the new infrastructure facing the future not only has huge development space, but also is an important way to stabilize investment, expand domestic demand and stimulate economic growth.
The author believes that new infrastructure is both infrastructure and emerging industry. As the cornerstone of the development of digital economy and an important support for transformation and upgrading, it will play an important role in the high-quality development of China's economy.
As early as December 2018, the central economic work conference first put forward the concept of "new infrastructure", pointing out the need to "strengthen the construction of new infrastructure such as artificial intelligence, industrial Internet and Internet of things". Since then, the upsurge of new infrastructure investment has kicked off.
Since then, the "new infrastructure" has been repeatedly mentioned in the meetings of the Political Bureau of the CPC Central Committee, the Standing Committee of the Political Bureau of the CPC Central Committee and the Central Committee for comprehensively deepening reform.
In April 2020, national development and Reform Commission defined new infrastructure, mainly including 5g base station, data center, rail transit, artificial intelligence, UHV, charging pile, industrial Internet and other fields. This has defined the direction for the orderly development of new infrastructure.
In October 2021, the State Council issued the action plan for carbon peak by 2030. With the intensive implementation of relevant policies, the new infrastructure represented by new energy power will also usher in a new year of construction.
At the same time, in the face of the long investment cycle and slow return of new infrastructure, the national development and Reform Commission recently issued the notice on accelerating the work of real estate investment trusts (REITs) in the field of infrastructure, which aims to reduce the asset liability ratio of enterprises, prevent and resolve the hidden debt risk, improve the reinvestment ability of enterprises and improve the operation efficiency of infrastructure, Promote a virtuous circle of investment.
It can be seen that during the 14th Five Year Plan period, the construction of new infrastructure bucked the trend under the impact of the epidemic and became the key area of "two new and one heavy" investment.
According to the estimation of relevant research institutions, new infrastructure investment will continue to expand in the future, the investment growth rate will reach double digits, the proportion in infrastructure investment will gradually increase to about 15% to 20%, and the cumulative investment scale is expected to reach 20 trillion yuan by 2025.
The investment theme of "steady growth" in 2022 has become a market consensus. The new momentum and opportunities brought by new infrastructure investment will "lead" China's economy and arouse the expectation and attention of the A-share market to the high-quality track of "Changpo thick snow".
The scenery is long, so it's better to look at it. The new infrastructure is the core base supporting the digital transformation of economy and society. It will lead a new round of scientific and technological revolution and industrial reform, and provide new momentum and inject new vitality into China's medium and long-term economic development.
