On May 9, Premier Li Qiang presided over an executive meeting of the State Council, which released a series of very pragmatic and specific signals.
The meeting not only listened to the report on the construction of the national comprehensive transportation system, but also deliberated and approved the "Regulations on the Implementation of the Mineral Resources Law of the People's Republic of China (Draft)", and once again emphasized the resolution of local government debt risks.
The state is "dredging the meridians" for the economy. logistics should break the "involution" and "obstruction" to make cargo transportation more cost-effective and efficient; mineral resources should be changed from "digging out and selling" to "strict management throughout the life cycle" to ensure national resource security; Local bonds should continue to "demine" and resolutely not add new troubles.
Freight should "reduce costs" and break involution and obstruction
The meeting clearly stated that it is necessary to "promote freight cost reduction, quality and efficiency".
At present, the overall efficiency of logistics and transportation in China is very high, but there are still many "inefficient pain points". Experts point out that these inefficiencies mainly include:
Structural imbalance in transportation: The proportion of domestic road transport is too high, and the potential of railway and water transport has not yet been fully realized. There are obstacles to multimodal transport: inconsistent transportation rules, inconsistent vehicle specifications, and complex transit links. Platform algorithm "involution": There is a low-price grabbing behavior on the freight platform, leading to vicious price competition. Information asymmetry: There are still information barriers between cargo owners and transportation companies.
In order to break these obstacles, the future force point is very clear:
On the one hand, it is necessary to optimize the structure, open up the connection of various transportation and logistics, and enhance the infrastructure supply of water transport and railways.
On the other hand, it is necessary to strengthen platform construction and supervision, not only to supervise algorithms, alleviate low-price competition, but also to break information asymmetry through new logistics platforms such as online intelligent matching.
In addition, smart logistics (such as intelligent timing systems to prevent fatigue driving) and new formats such as low-altitude economy combined with railway and autonomous driving distribution will also become new highlights in cultivating economic growth.
|Mineral resources "whole chain management", bidding farewell to extensive mining
The meeting deliberated and approved the "Regulations on the Implementation of the Mineral Resources Law of the People's Republic of China (Draft)", the core of which is to "strengthen the management of the whole chain of mineral resources in accordance with the law". This means that the regulatory tentacles will extend from the front-end exploration to the end of ecological restoration, completely breaking the segmented model of "railway police in charge of each section" in the past.
What are the specific links included in the whole chain management?
Experts interpret that this covers the whole process of mining rights establishment and transfer, mine construction, mining operation, pit closure repair, and digital and intelligent supervision
Mining rights are set up and transferred: The key is to promote competition, so that mining rights can be granted to enterprises at reasonable prices to avoid resource loss. Mine construction and mining: It is necessary to fully consider geological and environmental protection issues, use digital technology to mine sequentially, and prevent "fishing with exhaustion". Closed pit repair: A lifelong responsibility system of "who develops, protects, destroys, and repairs" has been established.
At the same time, the state will scientifically determine the catalogue of strategic mineral resources (such as lithium, cobalt, nickel, rare earths, etc.), and build a "trinity" safety defense line integrating product reserves, production capacity reserves and origin reserves to ensure that resources can be "found, mobilized and used" at critical moments.
Local debt resolution: Resolutely prevent new hidden debts
The meeting once again focused on the risk of local government debt, pointing out that the previous package of debt has achieved remarkable results.
The next requirements are very clear: consolidate the main responsibilities of local governments, enhance local independent debt repayment capabilities, and ensure that the task of debt reduction is completed on schedule. The most critical red line is to "establish and improve long-term mechanisms and resolutely prevent new hidden debts".
This means that a high-pressure regulatory situation with zero tolerance for illegal borrowing will be maintained, and at the same time, the reform and transformation of local government financing platforms will be promoted in an orderly manner, and their government financing functions will be resolutely divested.
The direction of infrastructure investment is more accurate
The signal released by this National Standing Committee is very clear: whether it is the "cost reduction and efficiency increase" of freight logistics or the "strict management of the whole chain" of mineral resources, it is essentially "laying a solid foundation" for the high-quality development of China's economy.
The macro policy emphasizes "forward efforts", focusing on strengthening the planning and construction of water networks, new power grids, computing power networks, and logistics networks. This means that future infrastructure investment will no longer be "flood irrigation", but will be accurately invested in areas closely related to national security and industrial upgrading.
1: Smart logistics and multimodal transport leader
Pay attention to those leading logistics enterprises that can open up the pain points of railway, water transport and highway connection, and have digital scheduling capabilities. The strengthening of algorithm supervision and platform construction by the policy will benefit the "regular army" and "head players" in the industry.
2: Strategic minerals and green mine service providers
Under the "whole chain management", enterprises with scarce strategic mineral resource reserves will be revalued. At the same time, third-party service providers that provide digital supervision, ecological restoration, and green mining technology for mines will also usher in a huge market increase.
The logistics and minerals industry may experience a round of compliance and standardization pains; However, only by breaking the obstruction and saying goodbye to extensive expansion can China's supply chain and resource security be truly in its own hands.
For investors, keeping up with the direction of the country's "dredging meridians" and looking for targets in the field of efficiency improvement and strategic security is still the most stable strategy at present.
