On March 19, CITIC SEC's 2026 Spring Capital Market Forum was held in Beijing. Looking ahead at investment opportunities, Yang Fan stated that the focus should be on emerging future industries guided by the strategies for energy security and aerospace advancement.
Specifically, the first area is computing-power coordination. The government work report clearly proposes implementing new infrastructure projects such as ultra-large-scale intelligent computing clusters and computing-electricity coordination, while strengthening nationwide integrated computing power monitoring and scheduling. Policies require that new data centers must achieve 80% green power usage, and from 2026 onward, existing data centers will be pushed toward the same target. This is expected to drive sustained growth in green power investment. To support the exponential growth in computing demand, it is projected that by 2030, direct electricity consumption will reach 664.8 billion kWh, corresponding to cumulative investment of approximately 2 trillion yuan in the power sector over five years.
The second area is satellite internet. The report for the first time proposes accelerating the development of satellite internet. The 15th Five-Year Plan emphasizes improving civil space infrastructure and remote sensing systems, as well as speeding up the deployment of low-orbit satellite internet networks. It is recommended to monitor the progress of reusable launch vehicle launches and the fulfillment of industrial chain orders.
In terms of new energy storage, policies explicitly call for vigorous development of new energy storage. With power sector reforms advancing, profit potential is gradually being unlocked, and cumulative installed capacity is expected to exceed 400 GW by 2030.
Regarding future energy, Yang Fan identified hydrogen energy and nuclear fusion as key directions. He suggested paying attention to opportunities such as the substitution of oil and gas with green hydrogen, ammonia, and methanol, as well as advancements in controlled nuclear fusion and approvals for conventional nuclear power projects.
Comments