When the “second party” collapses! A hip race? Eight large open recruitment investment and research universities have been announced!

Reporters of the China Foundation Fang Li Lu Huicheng Zhang Yanbei

The once-a-year national "second party" will be held in March for the first time, which has become a recent focus of interest in the capital market.

How is this year's ultimate "Second Party" event? "Second party" Chinese meeting have super-professional policies? A small area has become a new style of crotch? How are you looking forward to this year's physical development? Are there any investment opportunities in your area?

Against this, the China Fund has visited the eighth public fund investment and research university, and others are:

Hui Tian Wealth Fund Chief Scholar Han Hyun Wang

Tang Xiaodong, Director of the Southern Fund's Research and Strategy Department

Chairman of the China European Fund Investment Committee, Investment Director Zhou Wei Wen

Bakuji Fund Benefit Investment Section 3 Assistant Manager and Fund Manager, Social Insurance Union Investment Manager

Deputy Manager of Great Wall Fund, Investment Management

Deputy Manager of Yonghyun Fund, Yonghyun Lee

Huifeng Jinxin Fund Investment Management, Fund Management

Qianhai Kaiyuan Fund Management and Investment, Fund Manager Guoqing

This is a project researcher's recognition, every year "Second party" the first wave in the previous city "Second party behavior", this year's second meeting major focus on growth and high-quality development, comparative attention to old new base construction, not to be missed, 5G , Numbers, etc. Subjects, also look at good local products, basic building blocks, etc.

Precision point:

Han Yi Wang: Since the beginning of this year, some board blocks have been adjusted to a large extent, which is a factor of self-promotion, and a factor of property industry policy adjustment. In addition, factors such as local politics have affected the market, and adjustments have been made to the allocation of assets on the market. This year's market price is expected to be even more lopsided, with consumer behavior.

Tang Xiaodong: This year's second meeting our main concerns GDP growth target, financial policy accounting scale and local area statement. At present, the global environment is a credit project, and the core uncertainty lies in the creditworthiness of the creditworthiness, which is why the deficit rate and the bank account model have become a key issue. During the second session, please note the confidentiality of the credit policy statements and subsequent terminations.

Zhou Wei Wen: 2022 Market Factors Influencing Global Market Research, Financial Policy, Comprehensive Liaison Policy, Market Value, Regional Politics and Other Factors. We have full faith in China's mid- and long-term prospects. From this angle, the medium- and long-term is relatively certain, and the market is an important factor affecting the market. From the mid-term perspective, Hong Kong's policy has had a certain impact on the general public's policies.

Samurai: I've seen a lot of history before the two meetings started, and the A-cross index is currently on the rise. Renewal excellent. Since then, the market display on the day of the meeting has been general, and the information has been warmed up every step after the meeting, and the range of small and medium-sized and high-end products has increased.

Construction: Our domestic market is mainly due to the fact that we are under the premise that the downward pressure is relatively large. Compared to the market, there is a relatively large amount of liberalization, but the A market is dominated by liquidity, and the market is full of liquidity.

Li Yongxing: In the first half of this year, the main line of the year-round policy to achieve "sustainable growth", the construction of a new infrastructure with a specific road, the limited heavyweight base construction land investment, the stimulus consumption, etc. There is a certain degree of upward trend in the market in the near future, and it is a period of policy implementation in a certain direction, and the basic number of factors related to the future related board block performance formation is based on demand.

Lu Bin: This year's second meeting will focus on high-quality development, with comparatively focused policies and comprehensive measures: the first is the implementation of large and effective investment objectives. Second, the corresponding policy of the company's consumption. Third, China is undergoing a revolutionary period, a grand new movement, and a high-quality development policy. Fourth, support policies for small and medium enterprises.

Wu Guoqing: Under the environment of large release for foreigners, the market is relatively full of liquidity, and the small and medium-sized wind is promising. First, since this year, in the expansion policy, the weight of "progress" has been clearly raised; In the midst of the dispersal cycle. The main melody for the whole year of 2022 to become a promising candidate in the related areas.

This year's "two meetings" focus on the development of high quality

Chinese Fund Reporter: It's time to enter A "second party", how do you look forward to this year's second party policy?

Lu Bin: This year's second meeting will focus on high-quality development, with comparatively focused policies and comprehensive measures: the first is the implementation of large and effective investment objectives. Second, the corresponding policy of the company's consumption. Third, China is undergoing a revolutionary period, a grand new movement, and a high-quality development policy. Fourth, support policies for small and medium enterprises.

Tang Xiaodong: This year's second meeting our main concerns GDP growth target, financial policy accounting scale and local area statement. At present, the global environment is a credit project, and the core uncertainty lies in the creditworthiness of the creditworthiness, which is why the deficit rate and the bank account model have become a key issue. Information coming from both regions and regions has increased, with a possible bias of 5.5%. There was a dispute over the construction capacity of the new building investment and the construction capacity of the new building, so during the session, we secretly paid attention to the credit policy statement and the final situation.

Sakai: Since the opening of the 2021 bottom central training workshop, it has grown significantly in the short term, but there are doubts about maintaining its strength in the market, and the market has been weak since the beginning of the year. Confidence in the market is expected to have a great impact on the policy of the second meeting.

Among them, the following points are my main concerns: First, how to set the long-term target for GDP growth for the whole year, this decision has been made to increase the strength and confidence.

Second, how is the consumption? Since the epidemic, the consumption of the line has been slowed down.

Third, how is the foundation investment? Under the circumstances of the decline of the local property investment period, the responsibility of the foundation investment will be reassessed, and it will be important to pay attention to the issue of whether or not the new foundation will be released.

Li Yongxing: First, note the development of the policy related to the "increase length". The two regional associations are leading the national two associations, and there are differences in the local system due to the specific control, but many provincial-level administrative district governors will continue to be key operations in 2022. The implementation policy, the second party or the future credit, the financial administration, the construction land real estate and other areas will make a step forward, and the strength of the real estate credit policy and the important part of the new foundation are the key directions of attention.

Second, note area development equilibrium and joint wealth related content. In March 2021, the "14th Five-Year" standard moderated the regional development balance problem, high quality, integrated development of the region; Issues: Resubmission of November 19th Plenary Session 6, "Promoting Human Comprehensive Development, Reform of All-People's Common Wealth Acquisition, Clear Substantial Progress," etc. We will also focus on the joint wealth related issues such as the guaranteed tax housing, the education public, the peaceful consumption level, and the possible success of the next two meetings.

Third, note 145 standard initial implementation and department content. Since 1995, it has been in the capital market during the two exhibition periods, and has been published for five years. In 2021, the full text of the 145th Standard will be released by the central government and each province.

Wu Guoqing: What is the balance between the short-term and mid- and long-term construction adjustments for my personal decision?

Since the Politburo meeting in December, the recent concluding regional conferences have not seen the decision-making layer as a whole. Locally determined to increase the strength, and the actual operation has been completed. However, it is the main line of our country's society in the medium to long term, such as the removal of the stick and the lack of housing, which is the second-tier market participant, and we expect to create a balance among the government officials.

“Progressive” policy brings many opportunities

Chinese Fund Reporter: This year's major high-speed policy is "Long-term" policy.

Korea: Viewing from the government angle, relative entry and exit and consumption, strength of self-sustaining investment capacity in the base, structural analysis from the base, comprehensive real estate property, etc. in the area High degree, due to this, the new building promises to become a future “promising growth” policy point, and the ability to expand the scale is expected to increase significantly, so 5G, digital scale, etc., will be widely accepted by the city. Emphasis on government.

In terms of consumption, the current epidemic of overseas imports and the epidemic in the mainland are all the same, and the close-range contact measures are being implemented to limit the number of departures from each country. From the perspective of stimulus consumption and long-term growth, a series of countermeasures can be taken by the national government. Judgment at the moment, weakly based investment in this direction.

The exit is one of the major uncertain factors in the expansion of the market this year, because the overseas epidemic has continued to explode, and the domestic exit connection has been booming in the past two years. However, the future exit is not possible, the speed is increased, the decision is made due to the overseas epidemic situation, and the possibility is poor. Because of this, this year's market is facing the problem of "exit impossible period, GDP growth all year long".

In addition to this, new energy vehicles, household appliances, power reduction, etc., are expected to be launched in the future. .

Nothing new is the number, this year's capital market "progressive" policy has been put into practice for a while, and the future may continue to be a capital market return investment opportunity.

Construction Hua: From the perspective of policy, last year's government saw the downward pressure was large, so the "increase" task was to be the head of the work, and this year is the Political Year, the 20th National Representative of the Communist Party of China. The tournament was held in Beijing for the second half of the year. In a wide-eyed international society, this year is also a political year, and many countries will be selected in the mid-term elections, which will be held in cities. Not too much, the investor's measures against the "increased length" are extremely powerful, incapable of holding the account, the confusion compared to the period, and the lack of faith. Periodic turnover demand for a certain period of time, and demand expansion and monitoring policies will be more influential. We have an extraordinary mutual trust government's "prominent" decision-making ability, and have been accepted by mutual trust investors for a period of time.

Extremely speaking, our domestic market is mainly due to the fact that we are under the premise that the downward pressure is relatively large. Compared to last year, there was a relatively large release, but the A market was dominated by liquidity, and the market was full of liquidity.

Tang Xiaodong: In the past, the production, investment and consumption costs of the city have not yet been realized, and there is still a lot of support in the area of ​​policy. The core selection is our centralized government spending in Canada, large-scale new and old foundation investment, promotional spending and security related local property policies. Long-term policy-making board building, local property, big finance, etc.

Saku: Expectations are high for consumption-oriented policies outside of the release of a wide variety of bases in the market since the end of the period. In 2021, the stimulus consumption policy will be relatively small, and under the background of this year's financial policy change, similar to consumption tickets, and new consumption related policies will be launched. In the late 1990s, the epidemic management office had a pine, and the consumption board had a very good distribution opportunity.

Lee Yongxing: From the beginning of the third season in 2021, under the background of the generalization of the epidemic, we have seen an increase in the length of the property, and the increase in the length of the real estate credit industry has increased. Against this background, the first meeting of the Politburo in July 2021 signaled that the 2021 central government work meeting would be completed in the direction of “progress”. In the first half of this year, there is a lot of excitement and pressure, and the main line of policy for the whole year to make it possible to "promote". New infrastructure construction, limited heavy base construction land investment, stimulus consumption, etc. There is a certain degree of upward trend in the market in the near future, and it is a period of policy implementation in a certain direction, and the basic number of factors related to the future related board block performance formation is based on demand.

Lu Bin: Last year, the central construction conference was submitted to the “Construction Center”, and this year, the “progress” policy plan has become the main focus of the two conferences. Infrastructure investment and security building construction or to become a “progressive” key falling point, Chinese foundation to build a new foundation is a starting point, number base to build an energy base to build a foundation.

Wu Guoqing: My conclusion is positive. For the time being, the long-term needs of various governments and market participants were fairly consistent, but there was a specific road route existence difference, and the core was in the forefront, and the decision-making process was adjusted in the short-term and medium- to long-term. Two major targets. Unequal distribution between the two, decided two seasons, even year-round difference in business style. Under the contrast, local products, the old infrastructure market has a certain period difference, but there is a certain price ratio; Looking at the situation in the local community at hand, we believe that the new infrastructure, because it is the industry mutual network, the existence of the digital village direction is possible for a long time, and we will continue to pay attention to the meeting in the later stage.

Industrial Policy Assistance Industry Judgment

China Fund Reporter: Currently, domestic ministries and agencies have completed the opening of the conference, the development of the new old foundation, industrial policy, state enterprise reform, new energy development, etc. What are you waiting for?

Korea: Reform of state enterprise or not is a new topic, state-owned enterprise is a middle-class pillar of the public investigation, because of this, reform of state enterprise is a decision-making process, and it will be dismissed within a very short time.

Therefore, new energy renewal is possible, so that various governments are promoting industries, capital market associations are increasing local interest in new energy related investment opportunities. In this area, we are looking for a new energy vehicle, an investment opportunity for high-quality companies related to the optical industry.

Zhou Wei Wen: The new construction industry is advantageous. The new energy business policy will continue to support the future, and will continue to grow. Among them, the detailed business profit growth rate has emerged and differentiated. The company has been in the future for a year and has grown rapidly. This medium-term investment opportunity is also differentiated. After a short period of time, there was a certain amount of resistance to the situation.

Lu Bin: Under the background of the long-term growth, the construction of new energy facilities such as water conservancy in the image base construction area, transportation network construction in Wajo City, new infrastructure construction wind power, light facilities, etc. is a representative figure. Infrastructure construction is the direction of interest. State corporate reform ability, the vitality of the country's enterprises, the positiveness of the method of raising funds through the passage of workers, the competitiveness of the high-level industry that raises the funds of the people, and the large number of investment opportunities in this small enterprise.

Tang Xiaodong: The two companies' industrial policies help the judgment of the industry, but the internal division of the demand-bound board block determines the situation. In 2022, the new infrastructure will be able to implement policies, including the construction of the new infrastructure, the construction of the information infrastructure, the IT hard work and support services, the industry mutual network, etc., and the old infrastructure investment board in the first half of the year. The long-term policy direction of the new energy union to achieve neutralization is a medium-term priority, and the medium- and long-term outlook is favorable, but in general, this year's detailed business differentiation plan will be expanded. Pay attention to wind power, light transportation, travel raw materials, batteries, and new energy vehicles.

Saku: Our core goal is to continue high-quality development. At the beginning of 2022, we will continue to look for a long time. Upon arrival at the investment opportunity, we will focus on medium-term observations and more important aspects: manufacturing platform, rapid replacement of resources, high priority on safety, and expendability. First, the manufacturing industry's increasing demand passage "supplementing short plate, long plate" realization of high-end industrial addition, more land participation global branch, this is also the real "domestic and international dual circulation" basis. Second, in the period of the replacement of old and new energy sources, we should emphasize on the one hand the important new energy areas that are currently developing in our country, but at the same time, due to the lack of openness in the energy areas of the country, we will continue to support the long-term communication center, and the global two-way promotion or progress will be made. Compressive new energy sector development and investment, this will increase the potential for higher energy prices. 3. Submission of the 19th report to the 5th plenary session, “The whole process of national development and safety, and the development of safety and security in each area”, safe internal supply, increased wealth, comprehensive national defense security, comprehensive industrial safety, and energy Food safety, as well as the safety of people's lives, etc., are the most important direction for the market, national defense safety, energy safety, and food safety. Fourth, under the current “community wealthy” event, we will take note of large-scale consumer products such as home care/dairy products/liquor/drinks/large-scale beauty products, etc.

Wu Guoqing: In general, this aspect is the focus of the national competition, the investment side, and the difference in performance ratio compared to our focus. New energy sources and new infrastructure construction are definitely qualitative long-term main lines, but since last year, the market has been on the market, and it is possible that there is a weak correlation with the block structure. The existence of the reform judgment of the old foundation and the state enterprise against the market, but the two directions are more dominant than the other. In the late 2000s, I was secretly concerned about the trend of adjusting my investment.

Lee Yongxing: Looking at the history of the past, the government's policy block or business display is usually good, and it is the stage where the "increase" policy has been maintained. Comprehensive industrial base construction, etc.

In addition, the new investment direction is the main line of the market, comprehensive accounting, communication network, etc. We have visited 31 provincial administrative regions this year to report on government work, and the centralized departments for the development of large industries in the agricultural industry and the telecommunications industry have been completed. The objective of new energy equipment has been weakening in recent years, which is why we believe that the overall rate of new infrastructure construction has been an important direction for investment throughout the year.

“No.

Researcher of China Fund: Days ago, Central No. 1 Document ——After promulgation of “Central Communist Party of China, National Institute of 2022 Comprehensive Promotion of Village Development Key Work Opinions” . I've been looking at it, and this is the first article in the middle of the "three farms" work.

Korea: China is an agricultural powerhouse, with a very high population ratio in all areas of the agricultural sector, and the development of the agricultural industry in our country is a very important factor in the overall development and regulation of our country.

Regional development and imbalance in our country, there is a large gap in development between the interior and some northern provinces and the coastal areas. In Guangdong, Zhejiang, etc., the wealth provincial government said, village construction and nonexistent major problems, rural development in the western part of the country, measures such as government restructuring, under the current stressful and co-prosperous background, three agricultural fields, proposed It is a long-term important work for the development of the agricultural village.

Don't go to the capital market, every year's first central issue is an old topic.

Lu Bin: In recent years, the No. 1 central literary capital "Three Farms", this year's conglomerate village development, the aftermath of the cousin village related consumer prosperity rise. In addition, it is important to strengthen the promotion of resources, etc., to tackle the key technology issues related to the agricultural industry, to implement the full-scale implementation of the industry promotion action plan, to achieve the future, and to develop a profitable industry development platform.

Tang Xiaodong: Central No. 1 document has a short-term impact on investment, but an important guideline for medium- and long-term policy.

The following text: high emphasis on the development of the industry, technology promotion, policy requirements for research and development, comprehensive industry issues, etc. Plans, and research on major issues in biological breeding, such as the basis for strength adjustment, etc. At the same time, in the non-variety area, the main focus of the document, the demand for the rice, the raw boar, the demand for the contradiction is displayed, and the program is able to maintain a very high economic rate.

Sakai: In fact, this "opinion" is the second official document to be released overseas by the end of 2022, and the first one is "opinion on the development of the new era in the western part of the country." 》, the strategic importance of the development stage under the development stage.

For investment opportunities, we can see that the three major directions: one is industrial development. Among them, the first industry-related agricultural modernization (green farming, agricultural equipment, etc.) opportunities to gain attention, the second and third industries-related refrigeration logistics, regional consumption, airport tourism industry and equipment development space.

Two children live here. Among them, existing infrastructure construction (sewage treatment, water supply security), and production construction (water conservancy, roads, etc.).

Three numbers can be measured. 《Remarks》Direction of local villages to promote network rating management, digitalization, promotion of “mutual network + government service” An important tool for infrastructure construction.

Wu Guoqing: Central No. 1 document to be published next, Food safety is the most common part, Submission of document "Prison protection and housing security national food safety and non-occurrence of regulation return and refund conditions", at the same time Agricultural issues such as promotion of seeds, key technological issues, "promotion" agricultural and biological breeding major issues, the degree of importance of national industrial development in relation to the state, and direct benefits from subsequent policy developments .

In addition to this, the following documents are focused on the village development area, agricultural village residents' living environment, agricultural village infrastructure construction, digital village construction, agricultural equipment modernization, etc. Area creation multiple policy departments, related board building such as infrastructure (aircraft water supply, road bridge construction ), insurance (agricultural sewage treatment), mathematics center (agricultural large scale construction), agricultural machinery and other promising direct beneficiaries.

Li Yongxing: Central No. 1 Document 《Opinions on the key work of promoting the overall promotion of the village》 Good food production and supply of important agricultural products in the country 8 important departments such as village construction, reform village administration, etc., food safety, village foundation, agricultural mechanization, etc. There are many points: First, food safety, document general "protection and housing security national food safety" raises "bottom line" ”Advanced, full-text multi-pronged ``food'', its importance unspoken;

Second, regarding the construction of the village, the main items in this article and the environmental control of the farmer's living environment, the construction of the farm village infrastructure, the construction of the digital village, etc., basically agree with the 22-year old foundation construction power policy to increase the strength;

On the first line of the new city city, the management status of the new store, which also means the launch of the company, the space of the real estate enterprise, and the future development of the business refinement management and control capacity. On the main market, the investment attributes of local products are biased towards the manufacturing industry, and there is a huge increase in the space available.

Construction Huawei: We are secretly concerned about the existence of local products, there is a certain opportunity, but it is necessary to look after the policy. It has been a long time since I've seen it, and in 2020, the bottom silver insurance company's real estate company opened the "three red lines". The company's supply chain, which also led to new construction of land, land sales fell sharply. In the process of researching, the weight of local products is relatively large, we have a regular meeting of local products this year. We also secretly inspected and disappeared.

Local property owned by low-quality board block, adjusted very well over the past few years, once the policy is released, the capital is safe compared to state-owned or state-owned holding representative local property company. It is very convenient, and there is a certain opportunity to repair the damage.

Lan Bin: Local property policy management policy in the first half was ranked as the best, the current part was the local property adjustment policy, which was advantageous for the normal purchase demand of the people. Afterwards, the basics of "Family Absence" have changed, but the policy meeting has warmed up, and the basic aspect of local production is expected to improve.

Tang Xiaodong: Four seasons of 2021, the growth of local products will increase rapidly, and the future will continue. Local production is the core of the process, the immediate local production is not planned, the first step is the important means to measure the local production, and the local production is the stimulus means and contradiction. Under the basic policy of staying home, there is confidence in local products projects, but the current local products market is at a high level of over 17 billion square meters, and the local product association has greatly increased.

Samurai: I believe that the policy of the previous term is to some extent biased towards the latter. The core issue of the "Three Red Lines" is short-term non-compliance, but there is a long-term demand, and the local production contract is too tight. Since the beginning of the year, the local products have been steadily declining. Since recent policies have had a dynamic impact, there has been a constant decline in the city's interest rate on the first line.

Wu Guoqing: Since December of last year, the real estate policy has been active, and it is also part of the growing policy group. In the near future, the 10-year LPR will be declining, and the commercial banks of each province will have their own policies. In addition, there is a lot of concentrated demand, and it is difficult to find a solution to the problem of the enterprise, and we think that the late real estate credit policy is possible to move forward, but the short-term interest rate is not high. It was delayed until the actual review was effective.

Li Yongxing: The current local policy's movement signal is strong, but the bearing capacity is extremely limited. On the one hand, the pressure of the local industry to reduce demand, the improvement of the flow of funds, and the progress of the market for local products such as rental housing with guaranteed use, etc. The house is irrational. Physically speaking, the local policy movement is within a certain limit, and the stage is being pushed downwards within the year. However, after seeing the impact, the local project and the release of the pine from the local market will help the market.

Increase pressure

Comparison Policy Board Holding Opposition

Reporter of the China Foundation: Under the current policy, the research papers presented at this year's conference are currently being reviewed, how do you see them? What impact will this company have on policy production?

Korea: This year's prospects are wide-ranging, and there is a lot of land, and the land is from June last year. Poor visibility in terms of exit, too little autonomy, landlords have little or no exit capacity this year; . Manipulative words, this year's pressure is increasing.

Comprehensive financial policies of major overseas majors to balance and quantify, but to strengthen the country first, to maintain neutral financial policies, to protect the future from the financial crisis and the impact of external forces, Detailed consideration of progress, minor changes in policy progress, but very difficult to open space.

Lu Bin: There are a lot of policies to increase in the near future, but there is a lot of stimulus, but there is a big stimulus, so this year's rate of recovery is very small. The main goal of the financial policy is to continue to grow, and the financial policy is possible.

Wei Zhou: Our plan for the future is to continue to grow as policymakers continue to grow, helping us to grow faster. Considering local production, exit, epidemic prevention, etc., we will have a certain negative impact on production, and we will continue to be cautious this year. Right now, the financial policy debate is in opposition.

Tang Xiaodong: The first half of 2021 will see strong domestic demand. Since the end of 2021, the central government meeting has been approved, and since the beginning of the credit planning, the local products have been released, the financial expenditure has increased, and we have confidence in the planning. In terms of width, it is clear that the stimulating major foundation of the non-running foundation is clear, so it has not been confirmed that the conference will be launched with a large increase, and the annual report will be similar to the 2012 and 2019 transitional years. Before the local economy warms up, the market continues to grow, the regional political climate is shaping up the financial market, and the Chinese government is weakening.

Samurai: I've seen it before, and I've been watching it for a long time. After all, the work is still the focus of this year's work, and the first step has been achieved, but the target is still far away. On the one hand, overseas epidemic prevention and control measures have been released, the production capacity has been restored, and there is a certain impact on the development of domestic exits from the meeting. On the other hand, the domestic consumption stimulus continues to be weak, and the trend of local investment is unavoidable. The investment end is the main and most innumerable hand, because of the policy connectivity, and the strong leadership led by the trustworthiness.

Wu Guoqing: We have enough faith in our central government's determination and toolbox. Real-time recovery, the central rate is generally higher than expected. However, during the weighty policy, we will review the basics of the financial policy adjustment in the next few months, and the credit policy adjustment will be effective in the future.

Lee Yongxing: Currently, the bottom stage of our country's right-handed investigation in Hong Kong, European and American fluidity, economic pressure, and foreign demand, the space for the pre-existence repair of the epidemic situation, the year-round challenge. Under this background, each department has a "prominent chief" task, which has a positive effect on the promotion of the bottom line. From the structural view, there is a lot of pressure on the side of the bank, and the MLF and LPR in January will be released into the credit expansion space. , In the late stage of the plan, the policy of sluggishness was to be changed due to the demand for social loans.

The first half of the second meeting in history A Matata Kamisen

Chinese Fund Reporter: Have you seen the history of the two meetings? What are the impacts of the two-party policy on all-year investment?

Lu Bin: The two-party policy has a certain adjustment effect on the whole year, the two-party new policy change has a huge impact on the capital market, or the direction of the important issues in the market, which is a secret concern.

Zhou Wei: Our general research medium- and long-term investment opportunities, very small concerns short-term internal market fluctuations, very early on. The two parties are not meeting with the short-term A group, but there is a significant impact.

Tang Xiaodong: A month before and after the 2002 to 2021 conference, the A rise rate is very high. Since 2017, a month before the second conference and a month after the second conference, the average rate of progress is 80%. The policy of the 2nd party has an impact on the whole year's investment in the current industrial direction. Considering the historical figures, the two meetings have established a new policy direction, which has become a new focus for the market all year round, and it is very easy to launch.

Samurai: I've seen a lot of history before the two meetings started, and the A-cross index is currently on the rise. Renewal excellent. Since then, the market display on the day of the meeting has been general, and the information has been warmed up every step after the meeting, and the range of small and medium-sized and high-end products has increased.

For short-term policy doubts, the overall to medium- to long-term development direction of the two-party policy is to be resolved, and it is a very important reference for all-year investment.

Wu Guoqing: A review of the history of the conference, the impact of the pre-payment policies of the two conferences, the market display has been generally active -- since 2011, it has been 11 years since then, and the 9-year annual certification index has been displayed clearly. Uptrend, uptrend rate as high as 80% or more, among which the highest trend can reach 14.35%.

Therefore, the second meeting was held, the policy base of the year, the goals of the annual increase, etc. fell one by one.

After the second meeting, the yearly report, the annual report coming to the market, the basic aspect of the market, the business with high economic growth or the board block going back to the fund, the simultaneous partial policy clear and beneficial board block also meeting This first stage is a hot topic. Mid- and long-term development, key areas of focus during the two-session period are the main lines of investment for the whole year.

Li Yongxing: The A market will appear before and after the second annual meeting, and from the spring to the second meeting, there will be many "spring excitement" stages, the A group will show regular activity, and each major index will be more than this one. Since the two meetings have been held, many policies have been issued for a period of time, and the previous policies have been implemented.

After the second meeting, A entered the large-scale annual report, the first season of the report, the market running at a flat rate, usually the main meeting followed by the basic operation, and the high-quality board block with high quality and reliability. The market is expected to release more "prominent" related policies in the near future, except for the possibility that there will be some new hot spots in the year-round investment line.

Recent policy

China Foundation Reporter: Since 2022, the market has changed dramatically, and what are the factors that affect the market? Have you seen anything?

Han Yi Wang: Since the beginning of this year, some board blocks have been adjusted to a large extent, which is a factor of self-promotion, and a factor of property industry policy adjustment.

In addition, factors such as local politics have affected the market, and the asset allocation has been adjusted. This year's market price is expected to be even more lopsided, with consumer behavior.

Construction: Since the beginning of the year, the market has been running, and we have a background, and the width of the current market adjustment is more important than the current market. Sufficient new energy board has been adjusted, this is the basic rate for this period. On the other hand, there is also a discrepancy in the market, and the market in front of the market is one step away, and compared to last year's adjustment, there was a sufficient amount of consumer medicine. Reflecting investors this year should be cautious.

Major trends in the recent influence market: First, beauty has been added to the clarification of the display. Since 2008, China's 500 Index has seen a steady decline and a clear shock. After market liquidity and external capital market presentation, the shoes will be closed in March, and the short-term prospects will be thick.

Second, the difference in usage time and power level of the domestic policy tool. Domestic MLF completed in January, open market reverse repurchase operation, operating interest rate reduction 10 base points, policy holding constant, policy tools have continued to increase, but there is a large space, but the above operation or partial market decline, market conditions Certain impact.

In addition, the sudden political conflict, the yearly report, the unsuccessful period of the film industry, the impact of the air and riots in the technology industry, etc., are uncertain factors for urban A.

Zhou Wei Wen: 2022 Market Factors Influencing Global Market Research, Financial Policy, Comprehensive Liaison Policy, Market Value, Regional Politics and Other Factors. We have full faith in China's mid- and long-term prospects. From this angle, the medium- and long-term is relatively certain, and the market is an important factor affecting the market. From the mid-term perspective, Hong Kong's policy has had a certain impact on the general public's policies.

陆 Akira: Mae Kagen -shi -shi -shi, first, first, beautiful, all balls 风险 风险 风险 调 风险 风险 风险 风险 风险 风险 风险 风险 风险 风险 风险 货币 货币 货币 货币Increase the pressure in the country. A market change is based on its own basics, so the domestic economy is increasing, and the policy change is a priority.

Tang Xiaodong: Since 2022, the market has become a major market trend, and the domestic global environment, the international market, and the increase in the flow of funds are related to some changes. First of all, it is a cyclical change that will benefit from Hong Kong. After the 2021 central bank work conference, the domestic economy's basic adjustment has passed, the credit cycle has passed, and the credit cycle has passed. Pre-existing Rebuttal. Growing growth within a short period of time received a lot of money and pressure.

However, as we continue to grow, we will continue to work to improve the stability of the industry in the medium to long term. In terms of basics, medical science, consumer goods, new energy, etc., have undergone major changes in the industrial market, and the industry has not reported any problems. A hip manipulative, this year's current demand is a new move that will attract attention. Due to the unreasonable support of the Chinese market, the projected US liquidity rate is very low.

Samurai: Since the beginning of the year, the market has continued to decline, and at the same time, the market has been cut sharply. Since the launch of the 2021 quarterly economic growth policy, credit planning, the bottom-up review of the global economic growth, the economic growth, the comprehensive financial real estate, etc., have gone directly into the market. Usual style.

Two foreign market wind dyeing. America's economy is not high, interest rates are rising rapidly, America's growth has been greatly adjusted, and the domestic growth style has been created. Among these two major factors, I personally reassess the former, the market short-term main line is still on the rise, the market trend is balanced, and the future plan is to welcome a wave of all-out sexual revitalization.

Wu Guoqing: In the past two months, under the influence of a series of factors such as the signal of the hot weather in Taiwan, the rising temperature in the long term, and the epidemic, the A market has been greatly adjusted. In the market, the low-power board block from the previous hot door was cut off, and the market was launched. Displayed relative dominance.

Look at the outlook, the impact of unfavorable factors such as the imminent slowdown in the immediate recession, the large scale of the current situation, the large amount of stimulants, and the constant large environment of stimulants. , However, after considering the basic factors, there are not many opportunities for general integrity, and the demand for index-level promotion opportunities has reached the bottom in half a year.

Lee Yongxing: Since the beginning of the year, the world's major markets have been universally increasing, the policy of Europe and the European sub-national market has been influenced by the "pronged" trend, and the partial regional conflict has continued to develop; domestic policy. "Progressive" power, but before the development of the project, the investor information will continue to be maintained, and the domestic epidemic will be released.

Additional resistance to multi-factor exchanges, high security, high security, low defense, bank, basic construction and difficult travel, dining and aviation, etc. ，New energy, semiconductors, etc., welcome to the hot door and continue to adjust.

Afterwards, we will continue to see the increase in the long-term policy, the trend toward epidemic prevention policy, and the tragic situation caused by the lack of trust and confidence. However, it is expected that the demand for sexual improvement will be improved in the future, and the overseas wind will be fully released.

One look good

One of the best quality growth received

Chinese Fund Reporter: Looking back, is this year 2022 the main line of investment? Is it a good idea to look at the board?

Korea: The amount of new energy vehicles and the amount of light-provided equipment has continued to grow. Since the beginning of the year, we have been looking at new energy industry investment opportunities.

In addition, in the field of science and technology, we are also seeing good self-sustaining new assets, and this kind of assets is not easily received overseas, and the global political factors influence the government's strong development direction. In the past, in the area of ​​self-reliant investment, the semiconductor industry concerned more and more, and in fact, the government-led hard science and technology area, such as the overseas replacement of the key core zero component, has many high-quality enterprises.

Construction: security market dynamics, high-quality marketing company's business growth, breadth and performance ratio, selection and selection of cross-market cross-border marketing strategy, active capture market return investors.

One thing I look forward to is a constant consumption increase, this is one board that I look at directly. In the short term, the consumption business has been confirmed, and the epidemic situation has increased, and the downward pressure on the pressure is sluggish. Active impact urban walk-through weakening. At present, the basic aspect of the large consumption board block is weak, and the arrangement is also a good time.

Two factors have been compared to last year's impact on the overall pressure of the epidemic, the impact of the pressure on the industry, the manufacturing industry, the comprehensive consumption service board, the consumption goods manufacturing board, etc. This year, due to the fact that some factors have been gradually dissolved or withdrawn, the business is expected to be repaired. Of course, there is also a factor of uncertainty in the ability to solve the original pressure. Of course, our company secretly inspects the resources, and it is not possible to operate the most popular products.

Since then, the three new energy and industrial companies have been a representative high-end equipment manufacturing board block, and they have been looking good for a long time. The significant uptrend in the last year, which is reflected in a certain degree of growth, is expected to be high in the near future.

Lu Bin: For the time being, we are looking for a “high quality growth” to become a major investment opportunity in the future market. Under the new era of industrial growth and technological innovation in China, we have seen the growth of the company with various advantages (new energy, new materials, high-end equipment, medicine, new consumption, TMT technology, etc.), Due to the explosion of industrial demand, the increase in the market share of the global market, the release of new products or the replacement of entrances, etc., the overall industry space is expanding, the competitiveness of the company is increasing, and the future is promising for the next few years.

This is one of the big changes in the short-term capital market. Over the course of the years, the industry has been studying the competitiveness of the Chinese industry, and the growth of the industry has not been growing at the moment. Therefore, we believe that the main line of investment in the market is “excellent growth”.

Zhou Wei Wei: Businesses that overcome difficulties are the first major investment line in 2022, comprehensive dining, liquor stores, travel, transportation, performances, breeding and other businesses. The epidemic is still going away, but please come and visit us in the future, a year or two from now. In the three seasons of 2021, the aquaculture industry will continue to grow in the next ten years.

Tang Xiaodong: After 2019-2021, the market will be overturned. It is very high in terms of stability at the moment, under the promotion of long-term policies, the bottom plan of the 2021 report, which is the unpopular company that will be announced in 2021. etc.

On the other hand, 2021 is a good growth board block, and the current industry trend is still positive, so it's possible to be conservative. From the long investment cycle, the low-grade board block that is good for industrial growth, the result is a short-term rotation, and it is a relatively good placement opportunity. From the industrial policy driving angle, attention is paid to the green power network in the area of ​​energy construction, and the contradictory figures are calculated.

Samurai: As a result, the four main lines are: energy replacement, new construction, local production bias, consumption planning. First, the replacement of energy is a long process, and the friction and pain that accompany it during the process, we see that the new energy industry will continue to develop rapidly in 2022, but the long-term shortage of capital due to the long-term capital development of energy such as petrochemical industry. It's important to watch.

Second, the new foundation is an important player in this year's ``remarkable length'', and the majority of investment funds are still accepted by the new foundation.

Third, there is a problem in the front of local products, which is unevenly distributed.

Fourth, consumer recovery still expected to improve, domestic consumption in 2021 unsatisfactory, consumer behavior expression very weak, policy push in 2022 and epidemic prevention support, promising projects.

Wu Guoqing: Since this year, under the environment of large release, the market is relatively full of liquidity, and the small and medium-sized wind is promising. First, since this year, the weight of "progress" has been clearly raised during the expansion policy; During the economic cycle. The main melody for the whole year of 2022 to become a promising candidate in the related areas.

Concrete layout, see construction notes: 1st, new energy vehicles, new energy bases, semiconductors, factories, etc., in the domestic economy, such as the low-flying phase of the industrial world, stage quality adjustment, and so on. Core aggressive direction; second, new investment direction in China, such as nuclear power, energy, etc.; third, promising development to become the main line TMT board block in the next 1-2 years, comprehensive 5G + industry mutual connection network, original space, global supply Biosphere (such as financial institutions, semiconductor equipment materials), etc.

Lee Yongxing: Three main directions of attention, the first is the real estate development company, last year the real estate policy had a huge impact, the development of a few private enterprises was exposed, and the same time last year, the real estate industry increased and doubled the influence of the development of the local industry. Demand after the second year has fallen sharply, and the real estate industry has not been able to meet the demand. Because of this, from the perspective of real estate policy, it has reached the stage of biased demand. The words of the local products company, no policy is biased, there is a fair investment opportunity. Young policy bias, welcome the future full-scale sexual investment opportunity;

New energy power generation under the second note double policy, the opportunity to remodel the power distribution network. Last year, the promotion of dual policy was very strong, and it had a certain impact on the development of electricity for civilian use. This means that there is a pressure on the game, it is possible to control the performance, and it can be released to a certain extent. Against the backdrop of the unchangeable direction of the two-way policy, the amount of investment in new energy production and distribution network restructuring has generally increased, which is why this new energy production and distribution network restructuring can be seen in the long term. Opportunity.

Third Note Intelligent Vehicle Investment Opportunity. In recent years, the development of new energy vehicles has become a major focus battery technology, and in the past, it has become the new focus of the new energy vehicle market. In the intelligent automobile sector, the speed of industrial steel promotion is promising. Intelligent zero-part certification cycle usually requires more than three years, but the new vehicle will have a certification cycle shortened to one to two years, and the industry will be greatly accelerated. In 2022, the intelligent vehicle comprehensive vehicle electronics industry will be the first direction we pay attention to.

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