The “two sessions” were held, the economic growth target was 5.5%, and the infrastructure overweight policy was expected to be strong. Efforts should be made to stabilize the macro-economic market and keep the economic operation within a reasonable range. It is required to continue to do a good job in the “six stabilities” and “six guarantees”. Macro policies have space and means. We should strengthen cross cyclical and counter cyclical regulation to provide strong support for the smooth operation of the economy. From the perspective of funds, the scale of budget expenditure has expanded by more than 2 trillion over last year, and the available financial resources have increased significantly. Special debt of RMB 3.65 trillion was arranged to support the follow-up financing of projects under construction. At the same time, it is proposed to “expand the scale of new loans”, and the capital support for infrastructure is expected to be improved.
We will continue to expand domestic demand and emphasize regional coordination. It is required to steadily promote the construction of urban agglomeration and metropolitan area. Promote the coordinated development of Beijing, Tianjin and Hebei, the development of the Yangtze River economic belt, the construction of the Great Bay area of Guangdong, Hong Kong and Macao, the integrated development of the Yangtze River Delta, the ecological protection and high-quality development of the Yellow River Basin, build xiong’an new area with high standards and high quality, and support the construction of Beijing’s urban sub center. From the perspective of investment direction, the government work report attaches great importance to
It is suggested to pay long-term attention to people’s livelihood investment, transportation infrastructure, new energy power, water conservancy projects and other fields.
Investment suggestion: in the context of the uncertain global situation, the overall valuation of the upstream and downstream of the infrastructure industry chain is low, with abundant orders, high relative security and strong risk resistance. Therefore, it is recommended to continue to pay attention.
Investment opportunities for earthquake mitigation and isolation under high-quality development: long-term efforts have been made in disaster prevention and mitigation, legislation has been passed, and 20-30 times of space can be expected. Relevant targets such as Quakesafe Technologies Co.Ltd(300767) , Zhejiang Tiantie Industry Co.Ltd(300587) “transportation power” and rail transit sector have long benefited: there is a broad demand for the construction of “Urban Agglomeration” on the track, and relevant targets such as Zhejiang Tiantie Industry Co.Ltd(300587) , China Railway Group Limited(601390) China Railway Construction Corporation Limited(601186) ；
Under the expectation of the improvement of China’s infrastructure investment margin in the second half of the year, it is suggested to pay attention to the opportunities related to the industrial chain: pay attention to the undervalued targets China State Construction Engineering Corporation Limited(601668) , China Railway Construction Corporation Limited(601186) , China Railway Group Limited(601390) ; Leading infrastructure enterprises with steady main business and mineral resources: Metallurgical Corporation Of China Ltd(601618) , China Railway Group Limited(601390) ;
Under the background of dual control of energy consumption, high-quality targets in green power, BIPV and other related fields: Sinosteel Engineering & Technology Co.Ltd(000928) , Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) , Sinoma International Engineering Co.Ltd(600970) .
