Steady investment and solid hammer infrastructure rebound momentum
發(fā)布時(shí)間:[2019-9-19 9:39:40] 瀏覽量:1810次
Recently, the issuance of special debt has been accelerated, and major investment projects in many places have been intensively launched. Steady investment is making a combination of punches. Mengwei, a spokesman for the National Development and Reform Commission, said on September 18: "Since this year, the completion of railway investment has been generally stable. This year, a number of major railway construction projects will be completed and put into operation. The National Development and Reform Commission is speeding up the preparation of special transport plans, she said. Industry insiders pointed out that due to a series of recent national investment stabilization policies, it is expected that the growth rate of infrastructure investment in the fourth quarter is expected to continue to rebound.
Promoting Railway Construction in an Active and Orderly Way
National infrastructure investment grew 4.2 percent year on year between January and August, 0.4 percentage points faster than in January and July, according to the National Development and Reform Commission. In August, the State Development and Reform Commission approved and approved a total of 9 fixed asset investment projects with a total investment of 68.9 billion yuan, mainly in water Conservancy and energy.
"From January to August this year, China's railways completed 449.6 billion yuan in fixed assets investment, which is basically the same as the same period last year. Compared with the completion of railway investment in previous years, the overall progress this year is also normal. Mr Mengwei said that since this year, the NDRC, together with relevant departments, the State Railways Group and other relevant places, has been actively and orderly promoting railway construction, and the completion of railway investment has been generally stable. Judging from the situation of railway project construction, a number of major railway construction projects will be completed and put into operation this year. In the next step, in order to fulfill the task of railway investment this year and lay a good foundation for subsequent construction, the NRC, together with relevant departments, the National Railways Group and relevant local governments, will further step up its efforts and focus on the "three groups". That is, "one batch is under construction, one batch is under construction, and one batch is reserved."
One, she noted, was the steady construction of a number of major projects. Railway construction projects in the central and western regions of China is still a short plate. With the focus on the central and western regions, we will continue to advance the "eight vertical and eight horizontal" main passages of high-speed railways, improve the layout of the trunk road network, pay close attention to the construction of projects under construction, and urge project funds to be paid in full in a timely manner to speed up the formation of physical workload. Second, a number of major new projects will be launched. Recently, the National Development and Reform Commission approved a number of railway projects, such as the Xiangyang to Jinan section of the Zhengzhou to Jinan Railway, and the Heze to Lanke Railway. In addition, there are still several key channel projects are actively carrying out the preliminary work, once the conditions are available, they will be approved one by one. Third, we planned to reserve a number of major projects. In order to better play the role of the railway in supporting the development of the Beijing-Tianjin-Hebei cooperative development, the development of the Yangtze River economic belt, and the construction of the Guangdong-Hong Kong-Macao Dawan area, the National Development and Reform Commission and relevant parties are combining the preliminary study of the "Fourteenth Five-Year Plan" to speed up the preparation of relevant transportation special plans. In the next step, we will incorporate into the planning of major projects that are accurate and influential, strengthen the project reserve, and form a good situation of near and far, and step by step. In short, the NDRC, together with relevant parties, will focus on precision investment and effective investment so as to give full play to the positive role of investment in promoting economic and social development.
Infrastructure sector investment opportunities emerging
On the same day, the "Guidelines on Accelerating the Construction of Railway Dedicated Lines" issued by the National Development and Reform Commission proposed that by 2020, construction of a number of railway dedicated lines will start. Major industrial and mining enterprises with an annual volume of more than 1.5 million tons of major coastal ports and bulk cargo, and the proportion of special railway lines in newly built logistics parks have all reached 800,000, and the main ports of the Yangtze River trunk line have basically introduced special railway lines. By 2025, the proportion of major industrial and mining enterprises with an annual volume of more than 1.5 million tons of major coastal ports and bulk cargo, and the proportion of railway lines dedicated to new logistics parks will reach 85.00, and all major ports of the Yangtze River Main Line will achieve railway entry into Hong Kong.
The National Bureau of Statistics(NBS) released major data on the national economy's performance in August, showing that although industrial production growth continued to fall in August, consumption and fixed asset investment remained stable overall, and infrastructure investment growth recovered steadily. From January to August, infrastructure investment grew by 4.2 per cent from a year earlier, and the growth rate accelerated by 0.4 percentage points from January to July.
Tianfeng Securities Research Daily believes that the rebound in infrastructure investment growth in August was due to the low base effect last year. On the other hand, it was also related to the funding of special bonds in the early stages and the gradual landing of orders at the beginning of the year. From September to December, the growth rate of infrastructure has shown a significant increase. Railways, highways, and urban tracks may become part of the potential development of infrastructure. Therefore, whether compared with the current industry boom and horizontal and vertical valuations, or looking ahead, investors are advised to pay attention to the investment opportunities of current infrastructure construction companies, valuation or there is better room for upward growth.
Huacang Securities believes that in the near future, the country has issued a series of stability investment policies, including issuing new quotas and expanding the scope of use of special debts next year in advance, and reducing the deposit reserve ratio. It is expected that with the implementation of stability investment policies, major projects will be concentrated, and the growth rate of infrastructure investment will be expected to rebound in the fourth quarter.
