Event:
On January 12, the State Council recently issued the 14th five year plan for the development of digital economy (hereinafter referred to as the plan), which defined the guiding ideology, basic principles, development objectives, key tasks and safeguard measures for promoting the healthy development of digital economy during the 14th Five Year Plan period.
Our view:
1. The 14th five year plan for the development of digital economy highly affirmed the digital enabled economic and social achievements during the 13th Five Year Plan period, and made it clear that the 14th five year plan will continue to promote digital industrialization and industrial digitization, enable the transformation and upgrading of traditional industries, provide strong support for the construction of Digital China, and first mention the stage goal that the added value of digital economy industry accounts for 10% of GDP. Affirmed the role of the Internet platform in accelerating the integration of digital technology and various industries, e-commerce is booming, mobile payment is widely popularized, and a variety of new business forms and new modes such as online learning, remote conference, online shopping and video live broadcasting are developing competitively. In terms of development objectives, the 14th five year plan proposes that by 2025, the added value of core industries of digital economy will account for 10% of GDP. The data element market system has been preliminarily established, and the data resources are used to promote the coordination of the whole value chain of R & D, production, circulation, service and consumption; Industrial digital transformation has reached a new level, agricultural digital transformation has been promoted rapidly, and the digitization, networking and intellectualization of manufacturing industry have been deepened; The level of digital industrialization has been significantly improved, Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) new business forms and models have been continuously emerging and widely popularized, and their driving effect on improving the quality and efficiency of the real economy has been significantly enhanced; Digital public services are more inclusive and equal, digital infrastructure is widely integrated into production and life, and its supporting role in government services, public services, livelihood security and social governance is further highlighted; The digital economy governance system is more perfect, the laws and regulations system corresponding to the development of the digital economy is more perfect, and the digital economy security system is further strengthened.
2. Compared with the 13th five year plan to “expand the network economic space”, the 14th five year plan emphasizes the comprehensive economic and social digital construction, puts forward seven key industries of digital economy and ten digital application scenarios, and further improves the importance of digital economy. The fifth part of the 14th five year plan is entitled “accelerating digital development and building a digital China”, and the 14th five year plan for digital economy development is printed and distributed separately, which reflects the further improvement of the government’s attention to the digital economy and more emphasis on the comprehensive digital transformation of economy and society. Specific measures include building new advantages of digital economy, accelerating the construction of digital society, improving the construction level of digital government and creating a good digital ecology, and put forward seven key digital economy industries: cloud computing, big data, Internet of things, industrial Internet, blockchain, artificial intelligence, virtual reality and augmented reality, as well as intelligent transportation, intelligent energy Smart manufacturing, Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) and ten digital application scenarios of water conservancy, smart education, smart medical treatment, smart culture and tourism, smart community, smart home and smart government.
3. Industrial Digitization: cloud based, AI enabled, industrial Internet scale application, and digital security system. IDC, optical communication, SaaS and other cloud computing related industries will directly benefit; Demand driven, favorable policies, computing power and algorithm data support the artificial intelligence industry into a high-speed development stage; Industrial Internet applications such as intelligent manufacturing, smart energy and smart logistics will be accelerated, and the platform layer will accelerate its development; Network security, cloud security and data security ensure the rapid development of digital economy.
\u3000\u30004. Digital Agriculture: comprehensively improve the digital level of the core links of agriculture, and join the giants to jointly help achieve the “first kilometer”. In column 4 of the plan – digital transformation and upgrading project of key industries, it is pointed out that we should comprehensively deepen the digital transformation of key industries (such as agriculture, industry, logistics, finance, energy and other fields), among which agriculture related fields point out that 1) we need to accelerate the digital transformation of planting, animal husbandry, fishery and other fields, and strengthen big data, Internet of things The in-depth application of artificial intelligence and other technologies, improve the digital level of agricultural production and operation, promote the comprehensive information service of “agriculture, rural areas and farmers”, innovate and develop Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) , and improve the digital level of agricultural production, processing, sales, logistics and other links; 2) We need to vigorously develop smart logistics and accelerate the digital transformation of traditional logistics facilities to promote the integrated development of modern logistics industry, agriculture, manufacturing and other industries, including accelerating the construction of cross industry and cross regional logistics information service platform to realize the real-time sharing of demand, inventory and logistics information; Build an intelligent storage system and improve the automation and intelligence level of logistics storage.
5. Internet enterprises play an important role in the national digital economy strategy and will continue to contribute to the development of China’s digital economy in the future. With the trend of the integration of digital technology and the real economy, major Internet enterprises have launched digital transformation service supply, which has played an important role in promoting the industrial Internet and helping the real economy. According to the data of China Academy of information and communications, the proportion of software and Internet industry in China’s digital industry increased from 30% to 60% from 2012 to 2020. Internet companies represented by Tencent, Alibaba, meituan, Jingdong, Baidu and pinduoduo continue to give full play to their digital capabilities and enable the online process of all walks of life.
Risk tips: policy supervision risk, macroeconomic instability risk, increased industry competition risk, user loss risk, Internet valuation adjustment risk, etc.
