The transformation and upgrading of the manufacturing industry top design to com
发布时间：2020-06-19
Compared with 2017, the recent market style has changed a lot. As if overnight, last year's strong leading stocks and stocks have a sharp correction, and the GEM has been quiet for two years suddenly lively, some stocks even have the momentum to return to the bull market in 2015.
Looking for industrial transformation and upgrading
I believe that many investors will have some doubts that the fundamentals of the company cannot change dramatically in a short period of time. Such a drastic change of market style makes it difficult to grasp. Is there a challenge to the value investment concept? In my opinion, in the short term, the change of market style seems to be closely related to factors such as the sharp fall of THE US stock market at the beginning of the year. However, while focusing on the short-term factors, it is more necessary to deeply analyze the real logic behind them.
The short-term market breakout of these sectors is nothing more than the improvement of short-term market attention caused by valuation factors and catalyzed by events. However, the root cause is still supported by the logic of the industry. The growth of the industry is the most important factor to evaluate the investment value of the industry, and the first thing to do when looking for a booming industry with continuous growth is to firmly grasp the context of industrial upgrading and the direction of the development of The Times, because the rise and fall of the industry comes from the change of the industry, and behind the change of the industry is actually the change of The Times.
The investment opportunities in the general trend of industrial development do not only exist in emerging industries, but also in those seemingly traditional manufacturing fields. The transformation and upgrading of the manufacturing industry either meet the needs of social and economic development from the demand side, or realize the dynamic transformation of factor comparative advantage from the supply side. In the current China, the gradual disappearance of labor advantage, the improvement of environmental standards and the change of growth philosophy have driven low-end manufacturing to the central and western regions where labor is cheaper.
At the same time, with the transfer of capital-intensive heavy and chemical industry, technology-intensive electronics and machinery manufacturing links to China, as well as the emergence of domestic "engineer bonus", high
