What does the infrastructure in the stock mean?

With the spread of pneumonia in the world, the global stock market basically plummeted last week, and A shares were no exception. But this week, A shares rose sharply, and on Thursday, A shares almost rose, including infrastructure stocks. So what does the infrastructure in the stock mean?

What does inventory infrastructure mean?

It is the construction, reconstruction, expansion and restoration of infrastructure projects such as highways, railways, bridges and various industrial and civil buildings, as well as the purchase and installation of machinery and equipment, vehicles and ships and related work, which can be called infrastructure. Equity refers to the shares of capital construction listed companies.

Infrastructure is divided into new infrastructure and old infrastructure. The old infrastructure includes traditional building materials, buildings and real estate. The new infrastructure is relatively extensive, mainly including 5G base station construction, UHV, intercity high-speed rail and urban rail transit, electric vehicle charging piles, big data centers, artificial intelligence, cloud computing, and the Internet of Things.

Reasons for the recent surge in infrastructure stocks

In recent trading days, the "new infrastructure" concept stocks represented by 5G and cloud computing in the A-share market are hot. Since February 26th, the infrastructure-related sectors began to lead the Shanghai and Shenzhen stock markets. The reasons for the recent surge in infrastructure stocks may be related to the following factors:

1. As early as the end of 20 18, the positioning of "new infrastructure construction" such as 5G, artificial intelligence, industrial Internet and Internet of Things has been clear. Recently, the Ministry of Industry and Information Technology has repeatedly stated that it will speed up the commercialization of 5G networks and accelerate the construction of 5G base stations. The Ministry of Communications and other 1 1 ministries and commissions jointly issued the Strategy for Innovative Development of Smart Cars to promote the application of 5G network technology in the field of smart cars.

Q&A: Q&A: What is the difference between the "new infrastructure" often mentioned in the news now and the old infrastructure in the past? After the Central Working Conference of 2065438+February 2008 proposed "strengthening the construction of new infrastructure such as artificial intelligence, industrial Internet and Internet of Things", the construction of new infrastructure (hereinafter referred to as "new infrastructure") gradually entered the fast lane of development.

Different from the traditional infrastructure facing the demand of rapid economic growth, the "new infrastructure" is a future-oriented construction facing the demand of high-quality economic development, including both the "digital+"and "smart+"upgrades of traditional infrastructure and the infrastructure system based on information network and driven by technological innovation. Therefore, 2020 is expected to hedge the impact of the epidemic and cope with the economic downturn.

With the "new infrastructure" becoming the "wind vane" from top-level planning to social investment, the project guarantee insurance covering construction projects will also usher in the blue ocean market and new opportunities.

1, the expansion of the engineering guarantee insurance market is expected.

Previously, at the regular press conference in April, the National Development and Reform Commission made it clear for the first time that new infrastructure includes three categories: information infrastructure, converged infrastructure and innovation infrastructure, which respectively correspond to the infrastructure based on the evolution of new generation information technology, the infrastructure formed by the transformation and upgrading of traditional infrastructure and the infrastructure that provides convenient conditions for innovation activities, and have been expanded on the basis of the seven major areas of "new infrastructure" elaborated by CCTV last year.

Whether it is the cutting-edge information infrastructure, the innovative infrastructure backed by it, or the comprehensive infrastructure connecting the old and the new, the "new infrastructure" projects such as the construction of 5G base stations, the construction of intelligent transportation, and the construction of science and technology industrial parks all involve engineering construction and cannot be separated from the support of industries such as residential and civil engineering construction, building installation, and building decoration. For example, in the recent planning report of the National Development and Reform Commission, it is clearly mentioned that the major project of building a national comprehensive big data center will be implemented, and about 10 regional data center clusters and intelligent computing centers will be laid out in 2020; The Shanghai Action Plan for Promoting New Infrastructure Construction (2020-2023) also preliminarily sorted out the first batch of 48 major projects and engineering packages to be implemented in the next three years, including 34,000 new 5G base stations, 6,543,800 new electric vehicle charging piles and 6,543,800 new intelligent distribution terminals.

A number of research institutions predict that the total investment scale of the seven key areas of "new infrastructure" will exceed one trillion yuan in 2020; With the expansion of the extension of "new infrastructure", the investment scale of "new infrastructure" will also occupy a larger proportion in fixed assets investment. Therefore, although the construction scale of "new infrastructure" is difficult to match the traditional infrastructure construction represented by "TieGong Ji" (railways, highways, waterways and civil aviation), it will also significantly expand the capacity of the construction market, drive related projects and ensure the sustained growth of the insurance industry.

2. "New infrastructure" promotes the development of electronic letter of guarantee.

"New Infrastructure" is the basic guarantee of the digital economy and the transformation support of the real economy. With the "new infrastructure" injecting new kinetic energy into the digital economy and bringing new dividends to the real economy, the engineering guarantee insurance industry should also grasp the new requirements of economic and social development for insurance and build a risk protection bridge between the real economy and the digital economy.

Engineering guarantee insurance itself is facing the digital transformation demand put forward by epidemic prevention and control. In early February, the National Development and Reform Commission's Notice on Actively Responding to the Epidemic and Innovating the Bidding Work to Ensure the Stable Operation of the Economy emphasized "vigorously promoting the use of letters of guarantee, especially electronic letters of guarantee to replace cash deposits", and in May, the electronic letter of guarantee platform for bidding deposits in Fuyang, Anhui Province was launched, and the first electronic letter of guarantee was launched in Hohhot, Inner Mongolia. The demand for electronic letter of guarantee business and electronic letter of guarantee platform for economic development has already appeared.

At the same time, the enabling value of digital technology to electronic letter of guarantee business is gradually emerging: the application of 5G technology will help improve the efficiency of insurance companies in disaster prevention and mitigation, survey and loss determination, big data technology will help insurance companies improve their risk prevention capabilities and risk disposal capabilities, and artificial intelligence technology can also optimize the online operation of insurance underwriting, claim settlement and compensation. As the infrastructure construction of digital technology, the development of "new infrastructure" will provide inexhaustible power for the upgrading of insurance business.

In addition to using digital technology to develop electronic letter of guarantee business, insurance companies can also use the power of "new infrastructure" to explore the potential scenarios of engineering guarantee insurance, enhance the social function of engineering guarantee insurance, and smoothly catch the ride of "new infrastructure".

3. Investment in insurance funds ushered in new opportunities.

Engineering guarantee insurance has the characteristics of "charging in advance and compensating afterwards", which endows it with the function of financing part of insurance funds into social reproduction. The investment mode of "new infrastructure" is more flexible, and there are many opportunities for market players. Its accelerated development will also contribute to this macro function.

The huge investment demand bred by "new infrastructure" provides a place for large-scale insurance funds. Intelligent transportation infrastructure, big data center and other "new infrastructure" projects with long construction period, large investment amount and stable future cash flow and income will provide insurance funds with opportunities to improve investment efficiency.

In the near future, the CBRC will definitely strengthen the policy guidance on the use of insurance funds, and give policy support to investment projects that meet the national orientation in terms of investment scope and investment ratio. Previously, insurance funds played an important role in supporting infrastructure projects in the form of debt investment plans and equity investment plans. Since then, insurance funds can also actively participate in important areas supported by national policies and "new infrastructure" investment with rich investment scope through secondary market investment, combination of stocks and bonds, give full play to their advantages such as long-term and stable sources of funds, and actively explore the space to support the real economy.

The shutdown of the real economy caused by the epidemic has accelerated the integration of the digital economy and the real economy, and also promoted the top-level design of "new infrastructure" and social investment. Facing the upsurge of "new infrastructure", engineering guarantee insurance can only become a "trendsetter" by grasping the business opportunities of the blue ocean market, the opportunities of digital transformation and the investment opportunities of insurance funds.