Market Review
In the current period (February 28 - March 4), the CSI 300 fell 1.7% and the machinery sector fell 2.4%, ranking 23 among the 28 Shenwan industries. In terms of subdivided industries, oil and gas equipment increased the most, up 4.2%; Laser processing equipment fell the most, down 6.4%.
This week's view
In the process of steady growth, we should pay attention to infrastructure and large-scale refining and chemical sectors.
The government work report pointed out that this year, 3.65 trillion yuan of local government special bonds were arranged, which was the same as that of last year. Although there was no significant increase in figures, the scale was the second highest after the record high of 3.75 trillion yuan in 2020, and the actual issuance of special bonds last year was not high, From the point of view of last year's four quarters, the amount of $1.65 trillion of special bonds issued is much higher than that of last year's four quarters, so the actual use of $1.65 trillion of special bonds is much higher than that of last year's four quarters. In addition, the government work report also proposed that this year, the central government's transfer payment to local governments increased by about 1.5 trillion yuan, an increase of 18% over last year, the largest increase in many years. It can be seen that the intensity of ensuring actual fiscal expenditure this year is also more certain.
In addition, the approval of large-scale refining and chemical projects will be tightened in 2021, but the central economic work conference clearly proposed that "the new renewable energy and raw material energy consumption will not be included in the total energy consumption control". This major policy will loosen the approval of refining and chemical projects. Under the tone of steady growth this year, the investment of such projects is huge and will usher in a good opportunity for layout.
Investment suggestions:
Now that steady growth is underway, and we're looking at infrastructure and big refining sectors. We're looking at infrastructure and big refining sectors. We're looking at infrastructure and big refining sectors, and we're looking at infrastructure and big refining sectors, with a focus on engineering machinery targets. The Tsingtao Brewery Company Limited(600600) Tsingtao Brewery Company Limited(600600) Tsingtao Brewery Company Limited(600600) 60031 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Yantai Jereh Oilfield Services Group Co.Ltd(002353) , Harbin Boshi Automation Co.Ltd(002698) , etc!
Risk tips
Macroeconomic fluctuations, external demand fluctuations.
