The CPPCC National Committee held a special consultation meeting to promote the healthy development of the digital economy.
The CPPCC National Committee held a special consultation meeting on “promoting the sustainable and healthy development of the digital economy” in Beijing on May 17. Nearly 100 CPPCC members attended the meeting, 29 members and experts spoke at the meeting, and more than 140 members expressed their opinions through the platform for members to perform their duties. Liu He, member of the Political Bureau of the CPC Central Committee and vice premier of the State Council, and Wang Yang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and chairman of the CPPCC National Committee, attended the meeting and made speeches.
Vice Premier Liu he pointed out that we should strive to adapt to the all-round changes brought about by the digital economy, fight for key core technologies, support the sustainable and healthy development of the platform economy and the private economy, handle the relationship between the government and the market, support digital enterprises to be listed in the capital markets outside China, promote competition with openness and innovation with competition.
The strategic value of digital economy is highlighted, and the release of strong potential energy is accelerated.
Over the past 22 years, the digital economy has received full attention at the policy level. In January, the State Council issued the “14th five year plan” for the development of digital economy, proposing that by 2025, the digital economy will move towards a period of comprehensive expansion, and the added value of core industries of digital economy will account for 10% of GDP. The plan emphasizes that we should take the deep integration of digital technology and real economy as the main line, jointly promote digital industrialization and industrial digitization, enable the transformation and upgrading of traditional industries, and cultivate Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) new business forms and new models. In May 22, at the special consultation meeting of the CPPCC National Committee, Wang Yang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and chairman of the CPPCC National Committee, stressed that we should continue to strengthen, optimize and expand the digital economy, make it better serve, integrate into the new development pattern and promote high-quality development.
Since the end of the 21st century, four high-level meetings have continuously transmitted the positive signals of the platform’s economic rectification attitude.
At the central economic work conference at the end of December 21, the policy expression was eased, “setting a ‘traffic light’ for capital” to give full play to the positive role of capital as a factor of production and prevent the savage growth of capital. After that, at the meeting of the Finance Committee on March 16, 22, the loose expression “steadily promote and complete the rectification of large platform companies as soon as possible and promote the stable and healthy development of platform economy” was continued, Under the policy marginal slowdown, the capital market paid active attention one after another, and the Hang Seng Index rose 12% in seven days. The April 22 Politburo meeting emphasized “promoting the healthy development of platform economy and implementing normalized supervision”, which was consistent and consistent with the statements of the previous two high-level meetings, and maintained the marginal direction of good guidance under the premise of “healthy development”, “rectification” and “normalized supervision”. The special session of the CPPCC in may once again strengthened the promotion of the healthy development of the digital economy.
Investment suggestions:
The first quarterly report of zhonggai Internet sector began to be disclosed one after another, and the overall performance is expected to continue to be affected by the epidemic and supervision. However, we believe that the pessimistic expectation of performance may have been fed back in the early stock price, and the core still lies in the progress of supervision. Recently, there are frequent signals of policy slowdown. In our industry comment on May 4, we believe that although we are still facing a complex macro environment, there is no need to be overly pessimistic and pay attention to the repair space of Internet and media companies under marginal improvement. We maintain the previous view and continue to suggest paying attention to the value restoration of the head platform company. Including Hong Kong stock leaders [meituan, Tencent and Kwai]; Dual listing [jd.com, Alibaba, Netease, BiliBili], etc; A-share media head company [mango, Panax notoginseng, focus, perfect, G-Bits Network Technology(Xiamen)Co.Ltd(603444) ]; US stocks [pinduoduo, boss direct employment, futu], etc.
Risk warning: repeated epidemic and macroeconomic downturn; The progress of the audit event of the draft of zhonggai shares was less than expected; China’s regulatory policy is less relaxed than expected; The impact of the Fed’s interest rate hike on capital liquidity.
