On the whole, most foreign-funded institutions are optimistic about the long-term prospect of import substitution. Xia Zuoquan, chairman of Shenzhen Zhengxuan Investment Co., Ltd. and director of the equity investment committee of Saif international financier forum, recently told the first financial reporter that industrial autonomy and domestic substitution have just begun in many industrial fields, and the acceleration in the future is probably a rate event. There is a certain foundation for China to realize industrial autonomy, and one of its advantages is the potential domestic demand market. For example, Semiconductor R & D has a high cost and a long cycle. In the early days, enterprises could buy chips directly in the United States, Japan, etc. at present, under the trend of industrial autonomy, the domestic related industry chain will meet greater demand.
In addition to the traditional consumption (food and beverage, home appliances) and other sectors, Chinas technology upgrading trend has also attracted foreign attention.
In industrial production, robots will become an indispensable part of human beings in the future. Since 2013, China has become the largest robot market in the world. According to the forecast, before 2024, the annual average growth of the automation market will be 10%. At present, the automation enterprises produced in the mainland of China only account for 27% of the overall market, indicating that the future growth space is still huge.
Ma Lei told reporters that China scored 67.1 in the automated readiness index, ranking 12th out of 25 countries, and also the highest in the middle and high-income countries. Key long-term structural factors that support Automation include demographic changes - a declining workforce, rising average wages, and a new generation of graduates who are not the first to work in factories. At the same time, production costs and policy support are also powerful factors, such as the falling cost of Chinese manufacturers to buy robot systems.
He also mentioned that at present, the automation level of Chinas manufacturing industry is still low, and its future development potential is still huge. Among the 15 target markets, Chinas annual estimated supply of industrial robots ranks first.
Good prospects for China 5g in the long term
Although in a strict sense, 5g has not yet started, foreign investment has paid close attention to Chinas medium and long-term development of 5g.
5g has a great development prospect, Ma Lei told reporters. Although the initial cost of operators is high, in fact, technology is not static. As far as 5g is concerned, the cost of single machine may be high at first and the power consumption is relatively high, but if there is a technological breakthrough, the investment cost will also be reduced.
Focus on domestic independence and import substitution
Under the background of Global trade uncertainty, Chinas domestic independence and import substitution are the investment concepts concerned by all circles.
Most foreign-funded institutions generally believe that the importance of science and technology security will become particularly prominent no matter whether the external uncertainty is eased or not, which will urge Chinese enterprises and governments to take the issue of industrial autonomy more seriously. Looking back on the development trend in recent decades, driven by the pursuit of high efficiency, division of labor and cooperation, and low cost, the global economy and finance are not only rapidly showing the trend of integration and interdependence, but also the field of science and technology is globally fast integration, standardization and mutual compatibility, which can be seen from the situation of 2G, 3G to 4G technology iteration in the field of communication.
However, with the rise of protectionism, for China, the key is to promote the autonomy of science and technology in the core areas, and on this basis to achieve high efficiency and low cost again. Xia told reporters that with the increase of domestic market demand, for example, high-end chip manufacturing companies will continue to appear. Chinas market demand is large enough to create an industrial chain. As long as the return is high enough, for example, the return on investment is more than 10%, it will attract foreign capital to continue to flow in, Ma Lei told reporters. CICC believes that thanks to the great development of Chinas mobile Internet and smart phones in the past 10 years, China has formed an industrial structure dominated by the manufacturing and assembly of electronic components and mobile Internet services, with relatively weak research and development capabilities in semiconductor equipment and materials and new technologies. At present, Chinese enterprises are adopting global production, import substitution and global R & D to face the change of Global trade pattern and realize industrial upgrading. Source: the first financial editor: Liu Songpeng nbj9949
However, with the rise of protectionism, for China, the key is to promote the autonomy of science and technology in the core areas, and on this basis to achieve high efficiency and low cost again. Xia told reporters that with the increase of domestic market demand, for example, high-end chip manufacturing companies will continue to appear.