At the beginning of the new year, Shanghai, Jiangsu, Hebei and Qingdao successively announced major projects throughout the year. The reporter of Securities Daily found that major projects in the Yangtze River Delta were started intensively, with a total investment of more than 1.9 trillion yuan; Guangdong initially plans to invest 900 billion yuan in key projects in 2022, an increase of 100 billion yuan over 2021; Hebei Province has arranged 695 key construction projects with a total investment of 1.12 trillion yuan; Qingdao has arranged 416 key projects with a total investment of 928.2 billion yuan. In addition to the traditional infrastructure field, these investments with a scale of 100 billion yuan or even trillion yuan also focus on new infrastructure led by digitization.
new infrastructure helps upgrade traditional industries
In the list of key construction projects in Hebei Province, there are 337 strategic emerging industry projects with a total investment of 303.66 billion yuan, mainly including projects in the fields of information intelligence, biomedicine and health, high-end equipment manufacturing, new energy and new energy vehicles, new materials, energy conservation and environmental protection. There are 126 industrial chain modernization projects with a total investment of 301.74 billion yuan, mainly including projects in iron and steel, petrochemical, food, agricultural industrialization, light industry and other fields. 5g network, industrial Internet, Internet of things, artificial intelligence, big data center and other new infrastructure construction have become the key investment fields of all provinces, and even the investment scale is higher than that of traditional infrastructure.
China Everbright Bank Company Limited Co.Ltd(601818) financial market analyst Zhou Maohua told the Securities Daily that from traditional infrastructure to new infrastructure, it will have a long-term impact on China's economy. First, consolidate the economic fundamentals and moderately increase the strength of traditional infrastructure and new infrastructure in front of it, which will help to enhance the momentum of investment and domestic demand; Second, upgrade the imagination space of traditional industries, promote the digital and intelligent transformation of traditional industries, improve production efficiency and bring new imagination space for enterprise profits by supplementing new infrastructure; Third, the development of new infrastructure will further expand social capital investment.
Asset light, high-tech and high value-added industries are the core modules of the new infrastructure. Wang Peng, an assistant professor of Renmin University of China, told reporters that the digital transformation promoted by the government, whether digital government or digital industry, will provide support for new models, such as digital currency, digital government platform, resource release platform of the whole industry chain, etc, Supplemented by the re allocation of human resources and capital resources, a series of new productivity models will be produced, the most typical of which is the sharing model.
Wang Peng said: "Once the technology and mode are well coupled, the improvement of efficiency and effect is inevitable and significant. For example, 5g new infrastructure gives birth to the demand for semiconductor packaging, incremental demand for communication power supply, new infrastructure gives birth to new thinking of smart city, etc. at the same time, there will be spillover benefits. Although it does not generate direct revenue, it will produce enabling effects, such as 5g and smart home promoted by the Internet of things , unmanned sales, driving, logistics, shared factories, shared technologies and shared services spawned by the industrial Internet. New technologies are changing our lives and production in all aspects. "
the entity has clear investment objectives to attract the attention of capital
In order to cope with the new downward pressure on the economy, China has appropriately put the infrastructure weakness board in front, and stabilizing investment has become an important starting point for stabilizing domestic demand and economy. China has increased the issuance of special bonds to provide financial support for local projects as soon as possible. China's requirements for the use and efficiency of infrastructure investment funds have been continuously improved. All localities also actively plan to launch a number of projects that can give consideration to short-term stable growth and provide support for medium - and long-term high-quality development.
From the list of key projects, the key directions are strategic emerging industries, industrial chain modernization, digital infrastructure and applications, including industrial Internet innovation, photovoltaic industry chain, natural gas industry chain, power industry chain, new energy industry chain, etc., as well as some investment in hard technology to prepare domestic chips. Xu Yang, chief economist of Hong Kong Zhongrui fund, analyzed the reporter of Securities Daily. Generally speaking, the focus is on the industries radiated around the main line of double carbon goal, and the second is to improve the construction investment of China's hard scientific and technological strength and soft scientific and technological strength.
Xu Yang said: "These two should be more obvious main lines, which also attract the attention of capital. They can drive traditional industries to develop faster and better in the direction of networking, digitization and intelligence, and the realization of industrial Internet and Internet of things will also accelerate. Since the general direction of physical investment has been clear, the performance of capital market will be released one after another, and investors can choose one These directions are the medium and long-term targets, but we should also pay attention to the valuation premium. "
Bai Wenxi, vice president of China enterprise capital alliance, told the Securities Daily that from traditional infrastructure to new infrastructure and strategic emerging industry investment, provincial key construction projects will not only play an effective driving role in the real economy, but also provide a lot of opportunities for participation and development in the capital market and financial market. Capital markets and financial markets can not only play their role in resource allocation and support the investment and financing and financial stock service needs of these traditional infrastructure, new infrastructure and strategic emerging industries, but also realize their own transformation and development by supporting the development of these industries.
