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Data:2009-12-12 2:34
Building "the world's scientific and technological power," the grand blueprint of
China February 9, 2006 issued to the world an ambitious and long-term technology development plan, as soon as possible to become "the world's scientific and technological power," outlined ambitious road map. This is more than 2,000 leading scientists and policy experts took more than a year to develop this framework is that the Chinese market economy system has been basically established, and accession to the WTO's first national science and technology planning in the middle of this century become the world's scientific and technological power to lay foundation.
CPC Central Committee and State Council issued the decision the same time, the promulgation of this plan, the paper is divided into ten parts: a preamble; 2, guiding principles, development goals and the overall deployment; three focus areas and their priority themes; four major special; 5 , cutting-edge technology; 6, basic research; 7, science and technology system reform and the national innovation system; 8, a number of important policies and measures; 9, the basic conditions for science and technology investment and technology platforms; 10, talent ranks.
Outline the deployment of 11 national economic and social development of the focus areas and 68 priority themes, 16 major projects of strategic significance, 8 of 27 key technologies leading edge technologies, 18 basic scientific questions, four major research program. They cover the energy, resources, agriculture, manufacturing areas, manned space and lunar exploration, new varieties of GMO cultivation strategies such as engineering, biology, information, manufacturing, and other areas of cutting-edge technology, as well as proteins, nano-science and so on. These are the "urgent need for scientific and technological support of the strategic issues and major bottlenecks, as well as achieve a technological leap-forward development of the priority areas," Science and Technology Minister Xu says.
According to the release of the "national long-term Science and Technology Development Plan (2006-2020)", 2020, all social science and technology R & D funds into the total amount of annual gross domestic product (GDP) ratio will increase to 2.5%, more than 900 billion yuan will be invested the front ranks of the enterprise will become the main scientific and technological innovation.
This 45,000-word outline highlight the emphasis on "independent innovation enterprises have become the main" objective. Outline, to promote the enterprises, especially large enterprises to establish R & D institutions, while fiscal policy and the establishment of research and development platform for enterprise support.
Science and technology policy experts to design various types of enterprises in China with technological innovation and competition in the market to enhance the competitiveness of the realization of the path is proposed around 2020, to a large number of specialized small and medium enterprises based in various industries, a large number of outstanding benefits, innovation and performance outstanding, growth, strong Chinese enterprises to make the most outstanding among the world's top 500 to form a "carrier-class" enterprise.
Chinese President Hu Jintao earlier this year at the National Science and Technology Conference, said: "To promote China's economic growth shifted from resource-dependent innovation-driven and promote effective economic and social development onto the track of scientific development." At present, China is not the economic power of the A fundamental reason is that innovation is weak.
The planning on the impact of China's economy
China's economy to maintain rapid growth in a long time has been fully protected "Planning Program" to implement the long-term economic growth within the protective role of mainly embodied in three aspects.
First, it can effectively solve the current economic growth in China has experienced a variety of resource constraints. Held in October last year, adopted by the Fifth Plenary Session, "the CPC Central Committee on the development of" Eleventh Five-Year Plan "of the proposal" has pointed out that "China's land, freshwater, energy, mineral resources and environmental conditions for economic development has posed a serious constraint," If not resolved, the sustainability of growth will be affected, it has international experience to draw on. Such as Japan's resource use efficiency is very high, but in its rapid economic growth in 1955 and 1973, nearly 20 years, the economic growth rate in oil resource constraints affected. Because a large number of Japan's dependence on imported oil during this period, whenever the strong investment, economic growth accelerated, they will have serious because a large number of imports the trade deficit, it had during the five (1957,1961,1963,1967 and 1973-1975 ) for tightening of policy adjustments. Can be seen in the "outline" of the 11 priority areas, the first area is an energy-saving technologies and promoting diversification of energy mix, increase energy supply technologies; the second is the water and mineral resources-saving technologies , develops technologies, exploration technology, efficient exploitation and utilization technologies. An important breakthrough in the relevant technologies will be able to effectively address future economic growth is likely to face resource constraints for the economy in the long period of time to maintain a high growth rate provide a basis for their support.
Second, economic growth is that it provides a new, but it is even more important factor. Based on 80 years since the theory of economic growth take advantage of new economic growth theory, the promotion of economic growth, there are two main factors, first, capital and labor inputs; second is efficiency, efficiency has improved mainly rely on self-innovation with a years of technological progress. New Economic Growth Theory There is another very important point is that it believes that technological progress is not exogenous, but endogenous and is determined by the country's system, policy, environmental decision. "Plan" not only put forward the medium to long term focus of China's scientific and technological development areas, and proposed a comprehensive national innovation system with Chinese characteristics, the construction of a set of strong measures to create a favorable environment for technological progress, which will drive productivity, quality leap, economic growth will enter a new model.
Third, it can solve the long-term economic growth of China's encounter technical bottlenecks. Numerous studies show that when an economy can be in the use of existing scientific and technical conditions, there is still great potential for growth, economic growth constraint is the availability of capital. However, when the economy's development has made full use of existing science and technology can be when the constraints will be the economy of knowledge, the technical reserve. We believe that China's economic growth is gradually approaching the latter case. "Plan," a series of priority areas identified, major projects, cutting-edge technology, basic research will be at different levels were at different stages of economic development, providing technical reserves.
Fluctuations in the scope of corporate earnings will be reduced, profitability will increase
When the driving force of economic growth and gradually from mainly relying on capital and labor inputs into a greater reliance on innovation and efficiency brought about when it will also bring two implications.
First, volatility of economic growth is expected to narrow the scope of the volatility of corporate earnings will be reduced. In economic growth is mainly dependent on capital investment, the economy will fall into from time to time, "high investment - excess capacity - economic fluctuations" cycle, which is not only our past history, but also the international experience. In reflecting on the East Asian financial crisis, Krugman pointed out that Asia's economic growth, "mainly from the sweat rather than inspiration, from the more hard work rather than the more intelligent work." And the volatility of economic growth, narrowing correspond to fluctuations in corporate earnings will be reduced, which means reduced risk of stock investments.
Second, corporate profitability will increase. According to Marx's "Das Kapital", in capital input growth alone mode, the rising organic composition of capital, one result is a decrease in the average profit margin because the capital stock which part of constant capital increases, which can be getting smaller and smaller part of the creation of profit, the average profit margin will fall. If growth of more to come from independent technological innovation, the company profit margins will be increased. With regard to innovation development model of the importance of corporate earnings growth, with Japan and the U.S. Department of developed countries the gap between corporate profitability is an example. Increased profitability of the business will become the cornerstone of the steady development of the securities market.
China A-share market will occur, "growth discount" to the "growth premium" a major shift in
For a long time, China's economy sustained rate of more than 9% of the fast-growing, but it hardly reflects the economic efficiency of enterprises and social gap between the rich and the poor, a waste of resources and the environment is deteriorating, "the overall situation on the thriving micro difficulties," the sea Investors inside and outside the sustainability of China's economic growth to keep great deal of confusion and fear, which greatly increased the places in China A market equity risk premium implied by the level of emergence of the "growth discount."
However, from the Plenum adopted the "Eleventh Five-Year Plan", the new century and the first convening of the General Assembly, the National Science and Technology as well as the release of this "national long-term Science and Technology Development Plan (2006-2020)" , not only pointed out that China's economic development direction of "walking the road of independent innovation and building a harmonious society", but also carried out, the next 15 years China's development of science and technology has made a comprehensive planning and deployment, and thus a real solution to China's economic development The issue of sustainability to address the difficulties of the micro-level, thriving on a truly macroscopic. As a barometer of our economy - A-share market will ultimately from "a growth market discount" to "a growth market for premium", A shares of the overall valuation level will be improved.
"Outline" for the significant investment opportunities in markets
The "Development Plan" The reason why the stock market is significant, this is because the outline is not only a clear development goal: "By 2020, research and development of society as a whole into account the proportion of gross domestic product increased to 2.5%, and strive to scientific and technological progress contribution rate of 60%, and reduced dependence on foreign technology, to 30% or less "; and" The Platform identified 11 national economic and social development, priority setting, and choose a clear mandate, it is possible to obtain a technological breakthrough in the near future 68 priority themes focused arrangements "; and there is detailed and specific policy mix: the implementation of enterprise technology and innovative tax incentive policies; the introduction of technology to enhance digestion, absorption and re-innovation; the implementation of the promotion of independent innovation in government procurement; the implementation of IP strategy and technical standards strategy; the implementation of financial policies to promote innovation and entrepreneurship, etc.; Finally, I highlight the emphasis on "independent innovation enterprises have become the main" objective. In order for the securities market, regardless of the industry's point of view or perspective of listed companies have brought significant investment opportunities:
Population and Health to focus on "Chongqing Beer", etc.;
Components to focus on "Copper Peak e" and so on.
To focus on the manufacturing sector, "Qinchuan development", etc.;
Energy to focus on "Aerospace Electrical, confidence Electric, the National NARI, Yantai Wanhua";
Focus on agriculture, "Denghai kinds of industry" and so on;
The information industry to focus on "CITIC Communications", etc.;
Defense to focus on "rocket stocks", etc.;
"Innovation Shi Jie" - the focus of our attention to the 10 stocksName
Industry
05 EPS
05 P / E
Capital is now in circulation (million)
Chongqing Brewery
Wine
0.3
46
7800
State NARI
Software
0.51
31
7800
Confidence Electrical
Power Equipment
0.11
52
5000
Aerospace Electrical and Mechanical
Delivery device
0.13
55
14144
ZTE
Communication Equipment
1.38
21
37629
Denghai Seed Industry
Agriculture
1.04
20
8800
Copper Peak Electronics
E
0.14
29
10560
Yantai Wanhua
Chemical
0.75
18
28288
Rocket Stock
Special Equipment
0.5
25
34560
Qinchuan Development
Mechanical
0.22
19
16359
The outline of distinct benefit to the future of the industryIndustry Name
Benefit grounds
Could benefit from the company (according to the degree of benefit tranche)
Pharmaceutical Industry
Countries from the source to the market have given the industry a significant development in space, for example: a quantitative study of life processes and system integration, brain science and cognitive science, human health and disease, the biological basis of major new drugs created, AIDS and viral hepatitis and other major infectious diseases prevention and control. At the same time in the market, there are many policies and tax help.
1st file: Chongqing Beer
Second file: Yueyang Xingchang, Huashenjituan
The third file: Hengrui Medicine
4th file: Wangchunhua, Changchun High-tech, G Humanwell
Communications Industry
Broadband wireless mobile communication (3G), next-generation network (NGN), high-precision testing instruments, urban traffic management system
1st file: ZTE Corporation
The second file: create a letter in the measurement, Datang Telecom, Fiberhome Telecommunication
The third file: G Huntoon
4th file: BOCO
Computer Industry
Laser technology to develop key infrastructure required for major equipment components and general components of the design, large-scale application support software, middleware, embedded software, grid computing platforms and infrastructure, software systems integration and other key technologies
1st file: Han's Laser, G laborers
The second tranche: China's software, UFIDA, Neusoft Share
The third file: Tsinghua Tong Fang
4th file: New World
Electronic Components
The next 15 years to break restricting the development of information industry, the core technology and key components integrated circuit technology to master. "Plan" identified 16 major projects, including the core of electronic devices and ULSI manufacturing technology and complete sets of technology 2.
1st file: Copper Peak Electronics
The second tranche: Long electrical science and technology,. Html Guangzhou Kuo Kuang Hangzhou Silan Microelectronics
The third tranche: Health benefits science and technology, Farah E
4th file: Zhong Ke San Huan, Ningbo Yunsheng
Aerospace and military
After 15 years of efforts, China's national defense science and technology of modern weapons and equipment to basically meet the independent research and information needs of building, in order to safeguard national security protection. "Plan" identified 16 major projects, including large aircraft, high-resolution Earth observation systems, manned space and lunar exploration engineering three aspects.
1st file: Rocket shares, aerospace electronics, Xi'an Aircraft International, into the hair science and technology
The second tranche: China Satellite
The third file:. Html-axis study science and technology, Torch
4th file: Aerospace Changfeng
Energy Industry - wind power
Low-cost development and utilization of renewable energy as well as the localization rate of increase in fan
1st file: ST Instruments
Energy Industry - Solar
Low-cost development and utilization of renewable energy
1st file: Aerospace Electrical and
The energy industry - energy equipment
Large-scale, long-distance, high-efficiency power transmission and distribution; efficient coal mining technologies; improve the technical level of water and electricity; capture a major nuclear power equipment manufacturing core technology;
1st file: Confidence Electric
The second tranche: G XJ
The third tranche: National NARI
4th file: Heaven and Earth Science and Technology
5th file: Dongfang Electrical Machinery
The energy sector - electricity and water
Improve the water level of technology, policy will be to support large-scale hydropower development
1st file: China Yangtze Power
The second tranche: Laureate Power
Energy Industry - Coal
Promote efficient use of coal cleaning
1st file: Shanxi Coking
Second file: Yanzhou Coal Mining Company
The third file: Lanhuakechuang
Agriculture
(17) of germplasm resources of excavation, conservation and innovation and to cultivate new varieties of orientation
1st file: Denghai Seed Industry
The second tranche: Long Ping High-Tech
The third tranche: Good Alone
(19) deep processing of agricultural products and modern storage and transport
1st file: G New Hope
The second tranche: G Great Northern Wilderness
The third file: Shuanghui Development
(20) agriculture, forestry, development and utilization of biomass
1st file: Nanning Sugar Industry
The second tranche: G Fengyuan
The third tranche: Your Sugar Stock
(21) agriculture, forestry, ecological security and modern forestry
1st file: Yongan Forestry
The second tranche: G Forest Industry
(25) Modern Dairy
1st file: Bright Dairy
Second file: Erie Shares
Petroleum and Chemical Industry
Energy-saving, technological upgrading of the pacemaker
Liu-based shares, Hua Lu Hengsheng, Yuntianhua
A model of circular economy
Xin Share
The beneficiaries of eco-agriculture
Qinghai Salt Lake Potash, the six countries chemical, Nong Yang chemicals, Xin-shares
Building energy efficiency standards promulgated by the beneficiaries
Yantai Wanhua
The key technology breakthrough in New Chemical Materials Company
Yantai Wanhua, Xingxincailiao, Xin'an shares, Cangzhou Dahua
Of low-grade mineral resources, the effective use of those
Six chemical
Environmental Water
Agricultural water-saving irrigation, sewage, rainwater resource reuse, desalination, major environmental protection equipment at home
1st file: Wah Kwong shares, Kaidi Electric Power
The second tranche: Xinjiang Tianye, Blue Star Cleaning
The third tranche: first shares, Capital Environmental Protection
Non-ferrous metals
To develop the basic raw materials to meet the needs of the national economy
1st file: Rare Earth High-Tech
Second file: Baoji Titanium Industry
The outline of distinct benefit to the future of listed companiesStock
Their trades
Policies
2005
EPS
PE
Chongqing Brewery
Medicine & Wine
Viral hepatitis prevention and control of major infectious diseases
0.30
46
Long Electric Science and Technology
IC
The next 15 years to break restricting the development of information industry, the core technology and key components integrated circuit technology to master. "Plan" identified 16 major projects, including the core of electronic devices and ULSI manufacturing technology and complete sets of technology 2.
0.22
29
Hangzhou Silan Microelectronics
0.43
21
Copper Peak Electronics
Components
0.14
29
Shengyi Technology
0.28
29
Farah E
0.42
21
Rocket Stock
Space
After 15 years of efforts, China's national defense science and technology of modern weapons and equipment to basically meet the independent research and information needs of building, in order to safeguard national security protection. "Plan" identified 16 major projects, including large aircraft, high-resolution Earth observation systems, manned space and lunar exploration engineering three aspects.
0.50
25
Space Electric
1.20
24
Xi'an Aircraft International
0.10
48
Cheng Fa Science and Technology
0.17
40
China Satellite
0.13
71
ZTE
Communications
Broadband wireless mobile communication (3G), next-generation network (NGN)
1.38
21
Zhongchuang EMTEK
High-precision testing instruments
(0.20)
(35)
Datang
Broadband wireless mobile communication (3G)
(0.60)
(15)
Fiberhome
Broadband wireless mobile communication (3G), transmission equipment
0.09
112
BOCO
Information security, urban traffic management system
0.35
29
Han's Laser
Computer
Laser
0.38
35
Huagong Technology
Laser
0.14
38
China Software
Large-scale application software
0.22
50
Neusoft Share
Large-scale application software
0.16
58
UFIDA
Large-scale application software
0.55
51
Longxi Share
Machine Components
Focus on research and development of key infrastructure required for major equipment components and general components of the design, manufacture and mass production of the key technologies,
0.46
22
G heavy machinery
Engine
Focus on research and development of large-scale high-tech ships, large ocean-going fishing vessels and marine research vessels, etc.
0.50
18
Shenyang Machine Tool
CNC Machine Tool
Focus on digital design and manufacturing integration technology
0.35
27
Axis Research Science and Technology
Machine Components
Focus on research and development of key infrastructure required for major equipment components and general components of the design, manufacture and mass production of the key technologies,
0.41
34
Shanghai Zhenhua Port Machinery
Heavy Machinery
Focus on research and development of rail transportation, cross-bay channel, off-shore deep-water port, major airports, major bridges and tunnels, integrated three-dimensional transportation hub, deep-sea oil and gas pipelines and other infrastructure difficult transportation and maintenance of key technologies and equipment
0.72
16
G Qin Development
CNC Machine Tool
Focus on digital design and manufacturing integration technology
0.22
19
G force
Logistics Machinery
Focus on research and development of heavy trains, high-powered motorcycle, special heavy-duty vehicles, urban rail transit, large high-tech ships, large ocean-going fishing vessels and marine research vessels, etc. Multi-purpose general aviation aircraft at low altitude, high-viscosity crude oil and multiphase flow pipelines delivery systems and other new means of delivery
0.48
13
G Jinxi
Railway equipment
Focus on research and development of heavy trains, high-powered motorcycle, special heavy-duty vehicles, urban rail transit, large high-tech ships, large ocean-going fishing vessels and marine research vessels, etc. Multi-purpose general aviation aircraft at low altitude, high-viscosity crude oil and multiphase flow pipelines delivery systems and other new means of delivery
0.28
31
Yueyang Xingchang
Medical
Gastric disease prevention and control
0.24
24
Huashenjituan
Liver Cancer Treatment
0.05
149
Hengrui Medicine
Major non-communicable diseases prevention and control
0.64
23
G Humanwell
Reproductive Health
0.20
17
Xinjiang Tianye
Environmental Water
Agricultural water-saving irrigation
0.63
15
Capital Stock
Sewage and rainwater resource reuse
0.22
28
Capital Environmental Protection
Sewage and rainwater resource reuse
0.24
18
Blue Star Cleaning
Desalination
0.16
25
Huaguang Share
Localization of the major environmental protection equipment
0.46
18
Kaidi Electric Power
Localization of the major environmental protection equipment
0.39
19
ST Instruments
Instruments, fan manufacturing
Low-cost development and utilization of renewable energy
0.03
89
Aerospace Electrical and Mechanical
Energy
Low-cost development and utilization of renewable energy
0.13
55
Confidence Electrical
Electrical Equipment
Efficient Electricity Transmission and Distribution
0.11
52
G XJ
DC Power Transmission and Distribution
0.37
13
State NARI
A large-scale, highly efficient electric power transmission and distribution
0.51
31
Heaven and Earth Science and Technology
Development and Utilization of Coal-Mine Safety
0.42
20
Dongfang Electrical Machinery
Water level of technology to improve
1.25
12
China Yangtze Power
Power
Water level of technology to improve
0.41
17
Laurel Power
Water level of technology to improve
0.15
32
Shanxi Coking
Coal
Clean and efficient development and utilization of coal, liquefied and multi-generation
0.84
9
Yanzhou Coal Mining Company
Clean and efficient development and utilization of coal, liquefied and multi-generation
0.63
11
Lanhuakechuang
Clean and efficient development and utilization of coal, liquefied and multi-generation
1.27
11
G Liu of
Petrochemical
Saving energy, technology upgrades
0.50
13
Xinan Chemical Industry
Recycling economy, ecological agriculture
0.95
13
Yantai Wanhua
The key technology breakthrough in New Chemical Materials Company, building energy conservation
0.75
18
G New Hope
Agriculture
19: processing of agricultural products
0.56
11
Shuanghui Development
19: processing of agricultural products
0.73
22
Nanning Sugar Industry
20: Comprehensive development, bio-energy
0.18
46
G Fengyuan
20: Comprehensive development, bio-energy
0.16
26
Denghai Seed Industry
17: excavation of germplasm resources
1.04
20
Bright
25: Modern Dairy
0.21
25
G Great Northern Wilderness
19: processing of agricultural products
0.28
13
Erie Shares
25: Modern Dairy
0.75
24
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