CITIC Securities: Computing Power Construction Booms, Power Supply and Land Become Key Constraints
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A CITIC Securities research report, summarized by Jin10 Data on September 22, states that Chinese policy this week has focused on upgrading advanced manufacturing, expanding investment in emerging industries, and boosting consumer spending. The National Advanced Manufacturing Conference designated new-generation intelligent manufacturing as a key direction, with an 'AI + Manufacturing' special action expected to accelerate improvements in high-end chips, industrial software, and smart equipment. Concurrently, the 15th Five-Year Plans for electronics, pharmaceuticals, and cultural tourism were released, clarifying medium-to-long-term growth for semiconductors, AI computing power, innovative drugs, and tourism consumption. The report notes that policies are improving the investment environment for private enterprises and releasing service consumption demand. Surveys indicate that computing power construction in the Ulaan Chab-Zhangjiakou region is accelerating, with Zhonglian Data planning 7GW and Alibaba's Inner Mongolia computing power expected to reach 2GW by 2027. Power supply, energy assessment, and land are becoming the main constraints for project implementation, replacing demand.
Source report
September 22 — According to a research report from CITIC Securities, this week saw a密集 rollout of policies centered on upgrading advanced manufacturing, expanding investment in emerging industries, and boosting consumer spending in the livelihood sector.
Key Policy Directions
- Advanced Manufacturing: The National Advanced Manufacturing Conference identified next-generation intelligent manufacturing as a key priority. The "AI + Manufacturing" special initiative is expected to accelerate efforts to address weaknesses in critical areas such as high-end chips, industrial software, and intelligent equipment.
- Sector-Specific Five-Year Plans: The "15th Five-Year Plan" for the electronics and information, pharmaceutical, and cultural tourism sectors has been released simultaneously, clarifying medium- to long-term growth prospects for semiconductors, AI computing power, innovative drugs, and cultural tourism consumption.
- Investment Environment & Consumption: Policies are also opening up application scenarios, addressing payment delays for small and medium-sized enterprises, and expanding the supply of elderly care, rehabilitation, and sports events. These measures aim to further improve the investment environment for private enterprises and unlock service consumption demand.
Computing Power Construction Outlook
Survey data indicates that the momentum of computing power infrastructure development in the Ulanqab–Zhangjiakou region continues to accelerate. Key highlights include:
- Zhonglian Data has a long-term planned capacity of 7 GW.
- Alibaba is expected to reach a computing power scale of 2 GW in Inner Mongolia by 2027.
- Power supply, energy assessment, and land availability are gradually replacing demand as the primary constraints on project implementation.
Source
金十数据Eastern