At the beginning of 2021, new infrastructure has become a key word in the field of engineering construction, the scale of investment continues to expand, and a number of major new infrastructure projects usher in intensive construction. Judging from the recent deployment of multiple ministries and commissions and the local NPC and CPPCC, speeding up the construction of new infrastructure is becoming a key option for expanding effective investment. Hubei, Guangdong and other places are stepping up plans for a batch of 100 billion-level new infrastructure investment and construction projects, and 5G base stations, big data centers, and industrial Internet have become deployment priorities. At the same time, local governments are increasing policy support, creating a good environment, and promoting banks, securities, insurance and other financial institutions to support market entities to increase project financing, and encourage and promote market-oriented investment to become the main force.

On January 27, Luoyang held the first batch of major projects in 2021, including 18 new infrastructure projects such as the industrial Internet platform of silicon-based semiconductor materials and the construction of 5G base stations. On January 5, Shanghai Hongqiao Business District held the groundbreaking ceremony of some new infrastructure projects in 2021, including a batch of new infrastructure projects such as the adaptation of the computer room dedicated to the Internet and the enhancement of the functions of the Beidou Park smart platform.

One by one microcosm reflects the fiery start of new infrastructure projects in 2021

At the same time, many places are brewing and introducing new infrastructure investment and construction plans, sorting out investment projects around 5G base stations, big data centers and other key areas. For example, Hubei stated that 40 provincial new infrastructure projects with a total investment of 130 billion yuan will be implemented in 2021; Guangdong plans to invest 800 billion yuan to build key provincial projects in 2021, including 5G networks, industrial Internet platforms, big data centers, etc. A new field of infrastructure.

In synchrony with the intensive launch of projects, the central and local governments are increasing the deployment of support policies, and new infrastructure is used as an important starting point for expanding effective investment. The Central Economic Work Conference clearly adhered to the strategic basis of expanding domestic demand, which "we must vigorously develop the digital economy and increase investment in new infrastructure."

As an important part of the new infrastructure, 5G has further clarified the construction goals for the whole year. The Ministry of Industry and Information Technology recently stated that it will continue to deepen the construction and deployment of 5G networks in accordance with the principle of moderate advancement. In 2021, it plans to build 600,000 5G base stations. On the basis of achieving deep coverage in cities above the prefecture level, it will accelerate the extension to qualified counties and towns.

Take advantage of the situation

The local NPC and CPPCC meetings held in the past few days have also used new infrastructure as a starting point for expanding domestic demand and effective investment in 2021, and many places have clearly quantified development goals. For example, Shanxi proposes to build another 15,000 5G base stations and build a batch of application scenario demonstration projects in 5G, artificial intelligence, big data and other fields. Henan will build 50,000 5G base stations and accelerate the implementation of provincial big data centers and other projects.

In fact, in the face of the new crown pneumonia epidemic, the investment in new infrastructure has not diminished. Tian Yulong, a member of the party group, chief engineer, and spokesperson of the Ministry of Industry and Information Technology, stated at a press conference of the State Information Office on January 26 that in 2020, despite the decline in overall manufacturing investment, the growth rate of investment in high-tech manufacturing reached 11.5%, especially It is the accelerated construction of new infrastructure such as 5G and industrial Internet, which has played a great role in promoting the transformation of traditional industries.

The new infrastructure will also promote investment in the upstream and downstream industrial chains. Yu Ze, senior vice president of investment of Jiantou Huake Investment Co., Ltd., told the reporter of "Economic Information Daily" that new infrastructure, as an important driving force for accelerating a new round of industrial transformation, will drive the upstream and downstream industrial chain to strengthen the self-development of key core technologies and products. Research capabilities to promote innovation and optimization of the entire industrial chain.

Market-oriented investment will be further mobilized

Shanxi proposed that projects are king, scientifically arrange government investment, fully mobilize the enthusiasm of private investment, focus on "six new" breakthroughs, "two new and one heavy" and other fields, and deepen the construction of transformation projects. Guangzhou stated that it will build an interactive platform for government-bank-enterprise communication, organize the promotion of new infrastructure projects, promote the participation of banks, securities, insurance and other financial institutions, and support market entities to increase project financing.

The capital investment of enterprises is also expected to increase further. Taking 5G as an example, the "2021 5G Development Outlook White Paper" recently released by the China Electronics Information Industry Development Research Institute shows that telecom operators will continue to increase investment in 5G networks in 2021, which is expected to be 1.5 to 2 times that in 2020.

Fan Ruoying, a researcher at the Bank of China Research Institute, said that the financing of infrastructure projects has always been an important link restricting the growth of infrastructure investment. Unlike traditional infrastructure, new infrastructure has more obvious market-leading characteristics, and government departments need to further strengthen policy guarantees to create a good investment environment.

Fan Ruoying suggested that the next step is to expand the scale of local government special debts and strengthen support for new infrastructure projects; the second is to give full play to the role of policy finance and support specific infrastructure projects through special construction funds and PSL (mortgage supplementary loans). Measures to support major new infrastructure projects in various fields; the third is to flexibly arrange financing models, increase the enthusiasm of private capital and foreign long-term capital to participate in new infrastructure projects, establish a hierarchical project investment and financing docking mechanism, and gradually determine the capital ratio Give more to the market; fourth, encourage commercial financial institutions to solve the problem of greater pressure on investment projects through various methods such as debt, equity, and asset support plans.

Regarding the construction of diversified investment and financing channels in the future, state-owned capital can strengthen cooperation with venture capital institutions, listed companies, etc., while mobilizing the active role of market entities such as banks, insurance, trusts, etc., to provide full-cycle, integrated financing for high-quality enterprises and projects service. In addition, the Sci-tech Innovation Board, which will be launched in 2020, has created new channels for new infrastructure such as 5G and artificial intelligence to absorb social capital. The next step is to take the reform of the Sci-tech Innovation Board as an opportunity to accelerate the construction of multi-level capital markets. Funds will support and encourage innovation and development of upstream and downstream enterprises in the industrial chain. Editor/Xu Shengpeng