With a total investment of nearly RMB 34 trillion, investment plans for key projects in 2020 have been announced in many places. How can the “new infrastructure” at the air outlet of new infrastructure construction stations avoid “taking the old road”?

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Recently, investment plans for key projects in 2020 have been announced in many places, and "new infrastructure" has replaced traditional infrastructure projects as the protagonist of "absorbing gold". All sectors are generally expecting that "new infrastructure" bids farewell to "old issues" such as investment stimulus, becoming a new focus for leveraging economic development and driving the transformation and development of related industries.

Recently, relevant central government departments have repeatedly deployed tasks related to "new infrastructure" (new infrastructure construction). Governments in various regions have continued to move, and companies in related industries are eager to try ... "new infrastructure" has become an important high-frequency word in the economic field.

What are the contents of the "new infrastructure"? What new changes will it bring? How to avoid "old problems" in a new round of investment? Recently, a reporter from Workers' Daily conducted an interview and survey on this.

"New" round of infrastructure construction

Recently, 13 provinces and cities including Beijing and Hebei have announced investment plans for key projects in 2020, with a total investment of nearly RMB 34 trillion. In large-scale investment plans, "new infrastructure" has replaced traditional infrastructure projects as the protagonist of "gold absorption".

Among the 980 major projects released by Henan Province, there are 674 industrial transformation and development projects centered on the digital economy and advanced manufacturing, and only 116 traditional infrastructure projects. Among the 536 projects released by Hebei Province, information intelligence and high-end Equipment and new materials dominate, with only 53 infrastructure, steel, and petrochemical projects; Guangdong Province focuses on infrastructure construction investment in intercity rails, 5G communications, etc., while also deploying new energy, UHV, and big data ...

The reporter combed and found that in the list of 2020 key projects that have been published in various places, many places have a strong interest in "new infrastructure", and the relevant investment projects involve a variety of industries and types.

In fact, "new infrastructure" is not a new concept. As early as the Central Economic Working Conference held at the end of 2018, it was clearly stated that "it is necessary to accelerate the pace of 5G commercial use and strengthen the construction of new types of infrastructure such as artificial intelligence, industrial Internet, and the Internet of Things."

In the prevention and control of the new crown pneumonia epidemic, the early informatization construction has shown strong energy. Various intelligent devices, big data, 5G and other emerging technologies have brought about improved anti-epidemic efficiency; remote office, online education, unmanned stores and other figures The economy has, to a certain extent, made up for the losses caused by the epidemic; the multi-local government affairs on the cloud have avoided the stagnation of handling convenience issues.

Why "New Infrastructure" Press "Fast Forward"

Recently, relevant central conferences have named "new infrastructure" several times, and particularly pointed out the strong growth potential of emerging industries such as smart manufacturing, unmanned distribution, online consumption, and medical and health. At the same time, it is proposed to accelerate the development of biomedicine, medical equipment, 5G networks, and industrial Internet, and it is clearly required to accelerate the release of emerging consumer potential.

"On the one hand, the central and local governments are deploying 'new infrastructure' intensively, making it an important part of stable growth and structural adjustment. On the other hand, the use of digital technology is maturing, and there is a huge demand for transformation and upgrading in various industries, and related Infrastructure is a prerequisite for achieving transformation. "Said Li Meng, director of industrial research at JD Institute of Digital Science and Technology. There is a motive force and demand for promoting new infrastructure construction.

"In the next 10 years, the smart economy will become a new label for the Chinese economy. The 'new infrastructure' is a fuel tank that accelerates the launch of smart economy rockets." Li Yanhong, chairman and CEO of Baidu, said that new technologies such as artificial intelligence and big data It is becoming a new infrastructure in the information age, and the state's efforts to "new infrastructure" will further drive the intelligent transformation of various industries.

According to industry insiders, the digital economy is currently evolving to a new stage of the intelligent economy with artificial intelligence as its core driving force, and the new infrastructure that is compatible with it also requires the state to lead investment, construction and collaboration.

The core of "new infrastructure" is "new"

A series of heavy investment plans announced by various places has boosted market confidence, but also raised some concerns: Will "new infrastructure" follow the old path of "investment stimulus" and bring new excess capacity?

Some experts believe that since the recovery of exports and consumption takes some time after the epidemic, more attention should be paid to infrastructure investment, especially the role of "new infrastructure" investment in driving China's economy. It was also reminded that although large-scale investment is a good medicine for economic transformation, there are also side effects such as increased debt risk, so there should be a rational and sober understanding of "new infrastructure".

According to Liu Jianfeng, School of Financial Management, Shanghai University of International Business and Economics, unlike traditional construction investment, hard “new infrastructure” such as 5G and artificial intelligence and soft “new infrastructure” such as medical and social management meet the needs of Internet and digitalization. It will help foster new economic momentum and not have to worry too much about the formation of backward excess capacity in the future.

The reporter found that many experts said that the prospect of "new infrastructure" depends on how "new" it is. The division between the new and the old not only lies in the industry category, but also includes investment construction concepts and methods.

Some experts suggest that the acceleration of "new infrastructure" should accurately compensate for shortcomings, avoid the old road of swarming and blind stimulation, and strictly follow the requirements of high-quality development to invest funds in important areas that meet local development goals; Demographic characteristics of different regions, formulating lean investments, focusing on increasing the construction of new infrastructure such as 5G, intelligence, rail transit, and new energy; It is necessary for private capital to participate in the "new infrastructure" and provide adequate guidance and support from multiple dimensions such as policy, funding, and management.

Che Hui

Che Hui