Event: the State Council recently issued the 14th five year plan for the development of digital economy (hereinafter referred to as the plan), which defines the guiding ideology, basic principles, development objectives, key tasks and safeguard measures to promote the healthy development of digital economy during the 14th Five Year Plan period. China’s digital economy development is expected to further deepen and accelerate.
Both qualitative and quantitative, “digital +” turned to the deepening application stage. The plan is the first national special document in the field of China’s digital economy. It further highlights systematic design and systematic layout, focuses on building “four beams and eight pillars” to promote the development of digital economy, and makes an overall deployment for the development of China’s digital economy during the 14th Five Year Plan Period. Qualitatively, the plan emphasizes eight key tasks, including optimizing and upgrading digital economy infrastructure, vigorously promoting industrial digital transformation, strengthening digital economy security system, etc; Quantitatively, the plan proposes that by 2025, China’s digital economy will move towards a comprehensive expansion period, the added value of core industries of digital economy will account for 10% (7.8% in 2020), the scale of software and information technology service industry will reach 14 trillion yuan (81600 million yuan in 2020), and the application penetration rate of industrial Internet platform will reach 45% (14.7% in 2020). Overall, the development of China’s digital economy is turning to a new stage of Deepening Application and standardizing development.
Build a system around data elements and consolidate the technical base of digital industrialization development: the plan emphasizes that data elements are the core engine for the deepening development of digital economy. During the 14th Five Year Plan period, it is required to basically build a data resource system and promote the whole chain development of data supply, market-oriented circulation, development and utilization, governance and supervision. In addition, in the key task of “accelerating the promotion of digital industrialization”, the plan clearly puts forward the requirements for enhancing the innovation ability of key digital technologies, aiming at 5g, Internet of things, cloud computing, big data, AI, blockchain and other fields, focusing on breaking through the key core technologies in the fields of high-end chips, operating systems, industrial software, core algorithms and frameworks, and strengthening general-purpose processors Integrated research and development of cloud computing system and key software technologies. With the planning
The development of related underlying technologies is expected to be further accelerated.
Driven by demand and application, the implementation of industrial digitization is accelerated: the plan is “vigorously promoting industrial digitization”
In the key tasks, seven industries including agriculture and water conservancy, industry, commerce, logistics, finance and energy are clearly mentioned, and specific directions and requirements are made for the subdivided fields, including promoting the pilot research and development of digital RMB, promoting the digital upgrading of power grid, cultivating the leading area of intelligent manufacturing, etc. the implementation of industrial digitization continues to speed up, and the high outlook is expected to be maintained for a long time. The most obvious change in the planning target is in the industrial field. It is required that the application penetration rate of industrial Internet platform will reach 45% by 2025, which is more than 30 percentage points higher than the penetration rate of 14.7% in 2020, Relevant signal acquisition / high-precision positioning IOT connection storage and edge computing network and industrial control security machine vision and other core intelligent equipment industrial Internet platform and vertical industry app have ushered in overall development opportunities.
Public service is also a key area, and government affairs, education and medical treatment have ushered in good opportunities for development: in government affairs, we should speed up the standardization and intelligence of government services across the country by focusing on “one network”; In terms of education, it is required to further promote the construction of smart education demonstration area and further improve the national public service system of digital education resources; In terms of medical treatment, we will accelerate the improvement of databases such as electronic health archives and electronic prescriptions, promote the digital and intelligent level of medical institutions, and develop new formats such as internet medical care. In the past, there were a lot of unstructured data in the field of public services, the degree of digital construction was low, and the model change and market space are worth looking forward to. Driven by policies, relevant IT manufacturers are expected to welcome the good again.
Strengthen the construction of security system to ensure the high-quality development of Digital Economy: the explosive growth of data not only brings great value and opportunities, but also brings all kinds of risks; The plan requires the establishment and improvement of data security standard system, the study and improvement of industrial data security management policies, and the establishment of data classification and hierarchical protection system. Following the data security law and personal information protection law, the introduction and implementation of relevant subordinate laws is expected to accelerate. In addition, the plan clearly puts forward the requirements to strengthen the implementation of synchronous planning, construction and use of network security technical measures, strengthen the network security protection capacity of key information infrastructure in important industries such as telecommunications, finance, energy, transportation and water conservancy, support the implementation of normalized security risk assessment, and change network security from “passivity”
Turn to “normalization” and “initiative”, the downstream demand change brings increased investment, good catalysis at both ends of supply and demand, and there is great room for industrial capacity expansion.
Investment suggestion: digital economy is the strategic focus at the national level. With the introduction of the top-level plan, subsequent laws and policies will be gradually implemented. “Digitization” will become the core development main line of the whole industry during the 14th Five Year Plan period. The computer industry has ushered in an all-round good, and relevant national software manufacturers are expected to take the lead in benefiting. 1) Digital technology base: major breakthroughs are expected in key technology fields such as industrial Internet, AI and cloud computing. It is recommended to pay attention to Zhejiang Supcon Technology Co.Ltd(688777) , Zwsoft Co.Ltd(Guangzhou)(688083) , Guangzhou Sie Consulting Co.Ltd(300687) , Huada Jiutian, Shangtang, etc; 2) Industrial Digitization: the high boom in key areas such as finance, electric power and industry continues, so it is recommended to pay attention to Yusys Technologies Co.Ltd(300674) , State Grid Information&Communication Co.Ltd(600131) , Yonyou Network Technology Co.Ltd(600588) ; 3) Public service: the digital transformation of government affairs continues to deepen, and the marginal change of medical it is obvious. It is recommended to pay attention to Beijing Kingsoft Office Software Inc(688111) , Fujian Boss Software Corp(300525) , Winning Health Technology Group Co.Ltd(300253) , Sichuan Jiuyuan Yinhai Software Co.Ltd(002777) , etc; 4) Network security: the energy on the demand side gradually appears, and key network security manufacturers usher in an inflection point. It is recommended to pay attention to Dbappsecurity Co.Ltd(688023) , Qi An Xin Technology Group Inc(688561) , Beijing Infosec Technologies Co.Ltd(688201) , etc.
Risk tip: policy promotion is less than expected; Technological innovation breakthrough is less than expected; The game between China and the United States intensifies; Slow transformation of traditional industries, etc.
