Matters:
The State Council printed and distributed the development plan of modern comprehensive transportation system in the 14th five year plan (hereinafter referred to as the plan).
Ping An View:
From leading in some regions to national integration: the plan proposes that by 2025, the integrated development of comprehensive transportation will be basically realized, substantial breakthroughs will be made in intellectualization and greening, the comprehensive capacity, service quality, operation efficiency and overall benefits will be significantly improved, and the development of transportation will move forward to the world-class level. Compared with the 13th five year plan for the development of modern comprehensive transportation system issued in 2017, it is proposed that some regions and fields take the lead in basically realizing the goal of transportation modernization. The plan emphasizes integrated and integrated development. At the same time, it is proposed that 2035 will be convenient, smooth, economical, efficient, safe, reliable, green and intensive The intelligent, advanced, modern and high-quality national comprehensive three-dimensional transportation network has been basically completed, and the “national 123 travel transportation circle” (one hour commute in metropolitan areas, two-hour access in urban agglomerations and three-hour coverage in major cities in China) and the “global 123 express cargo logistics circle” (one-day delivery of Express cargo in China, two-day delivery in neighboring countries and three-day delivery in major cities in the world) have been basically formed, Basically build a transportation power.
Comprehensive transportation hub from qualitative to quantitative: the plan proposes to build multi-level integrated transportation hub, strengthen integration and connection, build international comprehensive transportation hub clusters such as Beijing Tianjin Hebei, Yangtze River Delta, Guangdong Hong Kong Macao Bay area and Chengdu Chongqing twin city economic circle, and improve global connectivity and radiation level, Improve the coordination efficiency of hub cities in the cluster; We should optimize the functions of comprehensive transportation hub cities, optimize the passenger and freight transfer facilities, collection and distribution network and rapid connection system between passenger stations of national comprehensive transportation hubs, and strengthen the functional complementarity, facility connectivity and operation coordination among comprehensive transportation hub cities at different levels. In terms of passenger transport, we should optimize the layout of passenger stations and urban public transport hubs, encourage the layout of the same station, and strengthen the effective connection with the urban transport system. In terms of freight transportation, priority should be given to the use of existing logistics parks, freight stations and other facilities, the planning and construction of a comprehensive freight hub with efficient integration of multiple transportation modes, and the centralized layout of functional facilities such as cold chain logistics, postal express and distribution distribution should be guided; It is necessary to improve the railway and highway networks for the collection and distribution of freight hubs, accelerate the construction of multimodal transport facilities, and promote the expansion and transformation of port transshipment facilities; We will promote the construction of about 120 national logistics hubs. It is expected that nearly 40% of prefecture level cities in China are expected to build national logistics hubs. In view of the above objectives, the plan puts forward quantitative indicators of connection and integration. By 2025, the railway arrival rate of important port areas of coastal ports will exceed 70%, the rail transit access rate of hub airports will reach 80%, and the average annual growth rate of container iron water intermodal transport volume will reach 15%.
Pay equal attention to “going to the countryside” and “entering the site” in the express industry: the plan proposes to carry out the brand creation of express service quality and develop differentiated products such as air express and high-speed rail express; Promote express delivery to villages, strengthen the sharing of county and rural delivery logistics resources, promote common sorting, common transportation and common receipt and delivery, and basically realize the direct receipt and delivery of mail express in organic villages. By 2025, the access rate of express service in organic villages will exceed 90%; Promote express delivery into the factory, deeply embed into the industrial chain and value chain, and develop inbound logistics, line logistics and other businesses. In terms of improving the terminal services of the base, it is proposed to build a comprehensive post delivery logistics service station integrating postal, express, e-commerce, commerce and other functions, and support the development of new business formats and new models such as instant post delivery and warehouse delivery integration.
Seven smart transportation projects: the plan proposes to accelerate the in-depth promotion and application of intelligent technology, improve the digital perception system of facilities, build an information interaction network for facilities and equipment, steadily promote the coverage of 5g and other network communication facilities, carry out 5g based application scene and industrial ecology pilot demonstration in the field of intelligent transportation, and integrate and optimize the comprehensive transportation information platform, It also proposes seven major transportation infrastructure digital networking upgrading projects, such as intelligent railway, intelligent highway, intelligent port, intelligent shipping, intelligent civil aviation, intelligent urban rail transit and comprehensive transportation information platform.
Investment suggestion: transportation is a basic, leading and strategic industry in the national economy. It is an important service industry and an important part of the modern economic system. It is an important support for building a new development pattern and a solid guarantee for serving the people’s good life and promoting common prosperity. The release of the 14th five year plan points out the direction for the future development of China’s transportation industry. The development trend of continuous expansion of industry scale and continuous improvement of transportation efficiency will continue. We believe that there is great room for development in the fields of transportation infrastructure construction, equipment manufacturing, transportation services and scientific and technological research and development in the future.
Risk tips: 1) policy risk: the progress of policy introduction and support may not be as expected; 2) Macroeconomic risk: the level of economic development affects the demand of the industry; 3) Safety risk: consumers pay more attention to transportation safety, and safety events may affect the company’s brand and reduce consumer confidence; 4) The epidemic development exceeded expectations.
