Recently, the Ministry of Industry and Information Technology stated that it is making forward-looking arrangements for artificial intelligence,Web3.0Advanced computing,6GIn the future, industries will develop new competitiveness on new tracks. Central enterprises have established nearly500The home focus is mainly on strategic emerging industries such as new-generation information technology and artificial intelligence. Currently, central enterprises have made outstanding achievements in deploying into strategic emerging industries, most recently5The average annual growth rate of investment in strategic emerging industries exceeds20%. Meanwhile, since the beginning of this year, the concept of China Special Economic Zone (SEZ) valuation has been hot, with central enterprise valuations rapidly returning to normal.
Why does the state strongly encourage central enterprises to develop strategic emerging industries? In the context of exploring the establishment of a Sino-foreign joint venture valuation model, how can the layout of strategic emerging industries positively impact the valuation of central enterprises? Which emerging industry tracks are expected to be the first to embrace development opportunities? Frost & SullivanFrost & SullivanLu Jing, Partner and Managing Director of Frost & Sullivan's Greater China Region, was interviewed by Securities Daily to discuss the layout and development of strategic emerging industries.
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Securities Daily
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Securities Daily Reporter: What are the advantages of central enterprises in developing strategic emerging industries?
Central enterprises possess characteristics such as high concentration, efficiency, large industrial scale, and significant influence. From the perspective of the capital market, central enterprises can assist in the national development of strategic emerging industries through two main methods. Firstly, central enterprises can improve the rapid layout of strategic emerging industries through mergers and reorganizations. By merging and reorganizing, they can accelerate the establishment of leading enterprises in emerging industries, thereby increasing industrial concentration and more effectively creating a complete industrial development environment. Secondly, central enterprises can also play a role in financing, raising funds for the development of strategic emerging industries through multiple channels such as issuing stocks or bonds, providing strong financial support for central enterprises to accelerate the development of strategic emerging industries.
Overall, state-owned assets and central enterprises can concentrate funds and personnel to help form large-scale industrial clusters, thereby accelerating the overall layout of industries and improving the development environment. Therefore, it is of great significance that the state is currently strongly encouraging central enterprises to vigorously develop strategic emerging industries.
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Securities Daily Reporter: In the context of exploring the establishment of a Sino-Tibetan economic integration assessment, what positive role does the layout of strategic emerging industries play in enhancing the valuation of central enterprises?
The Sino-Tsinghua Enterprise Evaluation (STE) can effectively address the reality that state-owned enterprises have been undervalued for a long time. Unlike traditional valuation systems, the STE system reduces its focus on the profitability of enterprises themselves and places more emphasis on improving the efficiency of profitability.
State-owned assets enterprises are vigorously deploying in strategic emerging industries. With the continuous catalytic promotion of policies, these emerging industries show obvious growth potential, thereby increasing expectations for the profitability efficiency of state-owned central enterprises. This will have a positive effect on enhancing the valuation of central enterprises. By raising the valuation level of central enterprises, more market funds are attracted into them, providing financial support for the development of central enterprises themselves. Central enterprises then feed back and assist in the development of emerging industries, thus forming a virtuous development cycle.
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Securities Daily Reporter: According to the State-owned Assets Supervision and Administration Commission (SASAC), a package of policies to support the development of strategic emerging industries by central enterprises will be introduced. Against this backdrop, which emerging industry tracks are expected to be the first to embrace development opportunities?
State-owned Assets Supervision and Administration Commission2month and5Since [month], several policies have been introduced to promote the development of emerging industries. Against this policy backdrop, industries closely related to national strategies, such as integrated circuits, artificial intelligence, and information technology, will attract more market capital inflows, thereby accelerating the industrial development layout.
Especially, digital technology industries are set to lead the way in embracing new development opportunities. Since digital technology industries can effectively boost the efficient development of other industries, they act as a catalyst for industrial growth. For instance, traditional industries can significantly enhance their analytical and computational capabilities during the equipment R&D process with the superposition and empowerment of new-generation information technology, thereby accelerating R&D innovation efficiency. At the same time, related technologies can also improve the collection and analysis of massive industrial data, promoting quality improvement, efficiency enhancement, and cost reduction in related manufacturing processes. Therefore, digital technology industries, which can help other emerging industries and act as a catalyst, are set to quickly deploy first under policy promotion, attracting development opportunities.
*This interview was published in Securities Daily. The reporter is Xing Meng, and the original title was 'Continuously Increasing Investment in Strategic Emerging Industries Boosting the Accelerated Return of Central Enterprises' Overall Valuation .
