Event: on the morning of April 29, a meeting of the Political Bureau of April was held. The meeting stressed that it is very important to do a good job in economic work, effectively protect and improve people’s livelihood, strive to achieve the expected goal of economic and social development throughout the year, and keep the economic operation within a reasonable range; Meanwhile, on the afternoon of April 29, the 38th collective study was held on standardizing and guiding the healthy development of Chinese capital according to law.
Regulate and guide the healthy development of capital according to law, give full play to the positive role of capital as an important factor of production, and maintain the economic operation within a reasonable range. This Politburo meeting stressed that we should do a good job in economic work, strive to achieve the expected objectives of economic and social development throughout the year, and maintain the economic operation within a reasonable range. At the same time, it stressed that capital is an important factor of production of the socialist market economy, We should standardize and guide capital development under the conditions of socialist market economy, strengthen antitrust, prevent disorderly expansion of capital, deepen capital market reform, continue to improve China’s basic system of capital market and give better play to the function of capital market.
Self reliance and self-improvement in science and technology, new infrastructure of digital economy is a key and important link, and we continue to be optimistic about the investment opportunities of relevant industrial chains of new infrastructure of Digital Economy: This Politburo meeting stressed that we should accelerate the construction of a new development pattern, accelerate the realization of high-level self-reliance and self-improvement in science and technology, and build a strong and resilient national economic cycle system; We believe that science and technology development, as a strategy to strengthen the country, and accelerating the development of high-level science and technology, is the current focus. At the same time, digital new infrastructure, as an important infrastructure support for science and technology development, industrial digitization and platform economic development, is the most critical and important link. Therefore, accelerating and paying attention to the development of China’s digital new infrastructure will further drive the development of server, optical module, cloud computing, AI, big data and other related industries. First, the hardware infrastructure such as servers, optical modules, switches and routers, as an important part of infrastructure network construction, will take the lead and continue to benefit; Secondly, cloud computing, AI, Internet of things, big data and other technologies, as the important support of computing power network, are the key technologies to realize the needs of enterprise digital transformation, interconnection of all things, artificial intelligence and so on. With the acceleration of the development rhythm of digital economy, the industrial demand and development rhythm will also be further accelerated. Finally, the rapid development of the demand for innovative applications such as the Internet of things and the Internet of vehicles will also further accelerate the development of China’s digital economy. In conclusion, we continue to be optimistic about the development of new infrastructure of China’s digital economy and related investment opportunities.
Suggested target: operators: China Mobile (covered), China Telecom Corporation Limited(601728) (covered), China United Network Communications Limited(600050) (covered); Main equipment supplier & Server: Zte Corporation(000063) (covered), Inspur Electronic Information Industry Co.Ltd(000977) , Unisplendour Corporation Limited(000938) , Fujian Star-Net Communication Co.Ltd(002396) ; Intelligent automobile: Meig Smart Technology Co.Ltd(002881) (covered), Dongguan Dingtong Precision Metal Co.Ltd(688668) , Electric Connector Technology Co.Ltd(300679) , etc; Optical module: Eoptolink Technology Inc.Ltd(300502) , Suzhou Tfc Optical Communication Co.Ltd(300394) (covered), Zhongji Innolight Co.Ltd(300308) (covered), Huagong Tech Company Limited(000988) (covered); IDC: Shenzhen Envicool Technology Co.Ltd(002837) (overwritten), Nanjing Canatal Data-Centre Environmental Tech Co.Ltd(603912) (overwritten), Guangdong Aofei Data Technology Co.Ltd(300738) , Shanghai Athub Co.Ltd(603881) . Cloud Computing & big data: Shenzhen Sed Industry Co.Ltd(000032) , Ucloud Technology Co.Ltd(688158) (covered), etc; PCB: Wus Printed Circuit (Kunshan) Co.Ltd(002463) , Shennan Circuits Co.Ltd(002916) , Shenzhen Fastprint Circuit Tech Co.Ltd(002436) (covered); AI: Hangzhou Hikvision Digital Technology Co.Ltd(002415) (covered), Zhejiang Dahua Technology Co.Ltd(002236) , Iflytek Co.Ltd(002230) (covered).
Risk warning: the policy dividend is less than expected; The development of digital economy is less than expected.
