Main points:
The concept of digital economy can be traced back to the 12th Five Year Plan, and the policies are continuous and progressive
Through tracing the policies, we find that "digital economy" has been put forward by government departments during the "13th five year plan" and "12th Five Year Plan". Before the release of the 145 digital economy development plan (hereinafter referred to as the "digital economy plan"), the central network and Information Technology Commission issued the 145 national informatization development plan (hereinafter referred to as the "Informatization Plan"), which are synergistic in content, However, the starting point and focus of the digital economy development plan are quite different: the digital economy development plan puts forward clear development objectives and tasks. The general orientation of digital economy planning is the first national planning in the field of digital economy in China. We believe that the proportion of the added value of the core industries of the digital economy in GDP is a leading indicator in the digital economy planning, and the attention to the core industries will not be weakened in the future.
The core industries of digital economy have become the focus of construction, and a large number of new digital infrastructure investments have been formed
The 14th five digit economic development plan has formed a "1 + 7" index system: "1" is the proportion of the added value of the core industries of the digital economy in GDP. The seven indicators cover four aspects: ① digital infrastructure: the implementation of the East digital West computing policy is the beginning of the systematic management of the data center. It is expected to put forward new requirements for new infrastructure, such as green power and low carbon in the future; ② Industrial Digitization: the plan mentions the digitization of Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) , smart water conservancy, smart logistics, financial it, smart energy and other traditional industries; ③ The key target of 5g industry is to improve the supply chain of energy industry and artificial intelligence, and the corresponding key fields of 5g industry and Internet; ④ Digital governance: emphasize the mode of collaborative governance and joint supervision across scenarios, businesses and departments.
Focus on high-quality tracks in subdivided fields and pay attention to the landing of scene applications
We believe that the current computer sector is still in the undervalued range, and the introduction of digital economy and relevant policies has provided new impetus for the development and investment of the computer sector. It is suggested to pay attention to the following sub tracks: 1) power informatization: clean power is the necessary way for "double carbon", and informatization is the core of realizing clean energy access and efficient power consumption; 2) Aerospace Informatization: the national spatial information infrastructure is gradually complete, and relevant industrial companies are growing, and high-tech talents are gradually pouring into all links of the satellite industrial chain; 3) Digital Finance: the financial technology development plan (20222025) and other policies have been issued successively, emphasizing the application of data elements, the digital transformation of financial institutions and the supervision of financial technology, and running digital thinking through the whole chain of business operation; 4) R & D and manufacturing industrial software: international technology competition is intensifying day by day, and many core links in the upstream are dominated by overseas companies, so domestic substitution is imminent; 5) Information security: after the "didi" incident, the regulatory level began to pay attention to the data and information security of outbound enterprises, which was jointly supervised by government departments and hierarchical management platforms.
Suggested concern
Fintech and Xinchuang: Grg Banking Equipment Co.Ltd(002152) , Yusys Technologies Co.Ltd(300674) , Hundsun Technologies Inc(600570) , Inspur Electronic Information Industry Co.Ltd(000977) .
Industrial software: Zhejiang Supcon Technology Co.Ltd(688777) , dingyang technology, Shanghai Baosight Software Co.Ltd(600845) , Zhejiang Heda Technology Co.Ltd(688296) .
Artificial intelligence: Pci Technology Group Co.Ltd(600728) , Iflytek Co.Ltd(002230) , Zhejiang Dahua Technology Co.Ltd(002236) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Opt Machine Vision Tech Co.Ltd(688686) .
Smart car: Thunder Software Technology Co.Ltd(300496) , Arcsoft Corporation Limited(688088) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Autel Intelligent Technology Corp.Ltd(688208) , China Transinfo Technology Co.Ltd(002373) .
Risk tips
1) the epidemic situation intensifies and reduces the expenditure of enterprise informatization; 2) Fiscal and monetary policies are lower than expected;
3) the fluctuation of supply chain increases, which affects the development of science and technology industry.
