This is the highest level of ecological and environmental protection conference!

       The national conference on ecological and environmental protection was held in Beijing on October 19. Xi Jinping, general Secretary of the CPC Central Committee, President of The People's Republic of China and Chairman of the Central Military Commission attended the meeting and delivered an important speech.

       Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, made the remarks at the meeting. Wang Yang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the NATIONAL Committee of the Chinese People's Political Consultative Conference (CPPCC), Wang Huning, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Member of the Secretariat of the CPC Central Committee, and Zhao Leji, member of the Standing Committee of the Political Bureau of the CPC Central Committee and secretary of the CPC Central Commission for Discipline Inspection attended the meeting. Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council Han Zheng made a concluding speech.

 Let's take a look at what Xi stressed：

       Xi stressed that must consciously with the construction of ecological civilization as a whole the economic and social development, give full play to the leadership of the party and the socialist system is able to concentrate resources to accomplish large undertakings in our country's political advantage, make full use of the reform and opening up for 40 years accumulated a solid material foundation, intensify efforts to promote the construction of ecological civilization, solve the problem of ecological environment, determined to play good pollution control to be completed, promote the construction of ecological civilization in our country to a new level.

       In his speech, Xi stressed that ecological progress is the fundamental plan for the sustainable development of the Chinese nation. When ecology prospers, civilization prospers; when ecology decays, civilization decays.

       Overall, China's ecological and environmental quality has continued to improve, showing a steady trend for the better, but the results have not been stable, Xi said. China's economy has shifted from a stage of rapid growth to a stage of high-quality development, and we need to cross some regular and irregular milestones. We must grit our teeth and climb over this slope and over this barrier.

       Xi stressed that the ecological environment is a major political issue related to the party's mission and purpose, as well as a major social issue related to people's livelihood.

       Xi pointed out that to promote ecological civilization in the new era, we must adhere to the six principles.

       It is pointed out that we should protect the ecological environment as we protect our eyes, and treat the ecological environment as we treat our lives, so that the natural beauty of the world will be permanent, and that nature will be peaceful, harmonious and beautiful. Clear water and green mountains are gold and silver mountains; A sound ecological environment is the most beneficial to people's well-being. We should focus on solving prominent environmental problems that impair people's health, and constantly meet the people's growing needs for a beautiful ecological environment. We will protect the ecological environment with the strictest institutions and the strictest rule of law, accelerate institutional innovation, strengthen institutional enforcement, and turn institutions into rigid constraints and untouchable high-tension lines.

       Xi stressed the need to improve environmental governance. We should make full use of market forces, improve the pricing mechanism for resources and the environment, support government-private capital cooperation projects in various ways, step up efforts to tackle key scientific and technological problems in major projects, and conduct research on countermeasures to major ecological and environmental problems affecting economic and social development. We need to implement a national strategy for actively addressing climate change, promote and guide the establishment of a global climate governance system that is fair, reasonable and win-win through cooperation, highlight China's image as a responsible major country, and promote the building of a community with a Shared future for mankind.

How to build "Beautiful China"? Xi jinping laid out a "timetable" and a "roadmap".

Major judgment

       Xi pointed out that the construction of ecological civilization is fundamental to the sustainable development of the Chinese nation.

       Critical period, difficult period, window period

       On the whole, China's ecological and environmental quality continues to improve, showing a steady trend for the better, but the results are not stable.

       The construction of ecological civilization is in a critical period when the pressure is mounting and the burden is being borne. It has entered a critical period to provide more high-quality ecological products to meet the growing needs of the people for a beautiful ecological environment. It has also entered a window period when we have the conditions and ability to solve prominent problems in the ecological environment.

The ecological environment is also a political issue

Ecological environment is a major political and social issue concerning the mission and purpose of the Party as well as the people's livelihood. 

schedule

       By 2035, the ecological and environmental quality will be fundamentally improved, and the goal of creating a beautiful China will be basically achieved.

       By the middle of this century, man and nature will coexist in harmony, the modernization of China's ecological and environmental governance system and capacity will be fully realized, and a beautiful China will be built.

roadmap 

Adhere to the Six Principles

To promote ecological progress in the new era, we must adhere to the following principles. 

       First, we should adhere to the principle of harmonious coexistence between man and nature, giving priority to conservation, protection and natural restoration. 

       Second, lucid waters and lush mountains represent gold and silver mountains. We will pursue innovative, coordinated, green, open and Shared development.

       Third, a sound ecological environment is the most beneficial to people's wellbeing. We must ensure that the environment benefits the people, the environment benefits the people, and the environment serves the people. 

       Fourth, mountains, rivers, forests, fields, lakes and grasses constitute a community of life, and we should take overall consideration, adopt holistic measures and take multiple measures simultaneously.

       Fifth, we will protect the ecological environment with the strictest institutions and the strictest rule of law, accelerate institutional innovation, and strengthen institutional enforcement. 

       Sixth, we need to jointly promote global ecological progress and take an active part in global environmental governance.

We will build an ecological civilization system 

We will accelerate the building of an ecological civilization system.

We will accelerate the establishment and improvement of the system.

       An ecological culture system based on ecological values,

       Ecological economic system with industrial ecology and ecological industrialization as the main body，

       To improve the quality of the ecological environment as the core of the target responsibility system，

       An institutional system for promoting ecological progress that is underpinned by the modernization of governance systems and governance capabilities，

       An ecological security system that focuses on the virtuous cycle of ecosystems and effective prevention and control of environmental risks。

We should promote green development in all respects

       Green development is an inevitable requirement for building a high-quality modern economic system and a fundamental solution to pollution。

We should make solving prominent ecological and environmental problems a priority area for people's wellbeing

       sky：We will basically eliminate heavy pollution and bring back the blue sky, white clouds and twinkling stars for ordinary people。

       Water: Ensure the safety of drinking water, basically eliminate the black and smelly water in the city, and give back to the common people clean water green shore, fish shallow scene。

       Soil: Strengthen the control and restoration of soil pollution, effectively prevent risks, so that people can eat and live at ease。

       Environment: build beautiful countryside, set aside birdsong and floral idyllic scenery for common people.

We should effectively guard against ecological and environmental risks

        Ecological and environmental security is an important part of national security and an important guarantee for sustained and healthy economic and social development。

We will improve environmental governance

        We should make full use of market forces, improve the pricing mechanism for resources and the environment, support government-private capital cooperation projects in various ways, step up efforts to tackle key scientific and technological problems in major projects, and conduct research on countermeasures to major ecological and environmental problems affecting economic and social development.

security

       Xi stressed that the fight against pollution is a big, tough and arduous battle with tight time, heavy tasks and great difficulty, and the party's leadership must be strengthened.

       The main leaders of local Party committees and governments at various levels are the primary persons responsible for ecological and environmental protection in their respective administrative areas。

       Establish a scientific and reasonable assessment system, and the assessment results serve as an important basis for the use of rewards, punishments and promotions for leading bodies and cadres at all levels。

Those leading officials who have harmed the ecological environment must be held accountable, dare to be held accountable, and must be held accountable for their actions throughout their lives. We will build an iron army for ecological and environmental protection。

       Party committees and governments at all levels should care about and support the building of the ranks of the people in charge of ecological and environmental protection, and take the initiative to support cadres who are brave and capable of doing their jobs.

以下是新華社發(fā)布全文：

       Xi stressed that must consciously with the construction of ecological civilization as a whole the economic and social development, give full play to the leadership of the party and the socialist system is able to concentrate resources to accomplish large undertakings in our country's political advantage, make full use of the reform and opening up for 40 years accumulated a solid material foundation, intensify efforts to promote the construction of ecological civilization, solve the problem of ecological environment, determined to play good pollution control to be completed, promote the construction of ecological civilization in our country to a new level.

       In his speech, Xi stressed that ecological progress is the fundamental plan for the sustainable development of the Chinese nation. The Chinese nation has always respected and loved nature. The 5,000-year Chinese civilization has nurtured a rich ecological culture. When ecology prospers, civilization prospers; when ecology decays, civilization decays。

       Since the eighteenth congress, we carried out a series of fundamental, pioneering, a long-term work, accelerating the top design and system construction of ecological civilization, strengthen the construction of the rule of law, establish and implement the central environmental protection supervision system, and vigorously promote the development of green, in-depth implementation of the atmosphere, water, soil pollution prevention and control of the three action plan, first published in 2030 by the China to carry out the sustainable development agenda national plan, implement the national plan on climate change (2014-2020) ", to promote the ecological environment protection of historic, transforming and global change.

Overall, China's ecological and environmental quality has continued to improve, showing a steady trend for the better, but the results have not been stable, Xi said.

       The construction of ecological civilization is in a critical period when the pressure is mounting and the burden is being borne. It has entered a critical period to provide more high-quality ecological products to meet the growing needs of the people for a beautiful ecological environment. It has also entered a window period when we have the conditions and ability to solve prominent problems in the ecological environment. China's economy has shifted from a stage of rapid growth to a stage of high-quality development, and we need to cross some regular and irregular milestones. We must grit our teeth and climb over this slope and over this barrier.

       Xi stressed that the ecological environment is a major political issue related to the party's mission and purpose, as well as a major social issue related to people's livelihood. The broad masses of the people eagerly look forward to accelerating the improvement of ecological and environmental quality. We should actively respond to the people's expectations, expectations and urgent needs, vigorously promote ecological progress, provide more high-quality ecological products, and constantly meet the people's growing needs for a beautiful ecological environment.

Xi pointed out that to promote ecological progress in the new era, the following principles must be adhered to.

       First, we should adhere to the principle of harmonious coexistence between man and nature, giving priority to conservation, protection and natural restoration. We should protect the ecological environment as we protect our eyes and treat it as we treat our lives, so as to perpetuate the beauty of nature and return it to peace, harmony and beauty。

       Second, clear waters and green mountains represent mountains of gold and silver. We must pursue innovative, coordinated, green, open and Shared development, and move faster to create a space, industrial structure, mode of production and way of life that is resource-efficient and environmentally friendly, so as to leave time and space for the natural environment to recover.

       Third, a sound ecological environment is the most beneficial to people's wellbeing. We will continue to ensure that the environment benefits the people, benefits the people, and serves the people. We will focus on solving prominent environmental problems that impair people's health, and constantly meet the people's growing needs for a beautiful ecological environment.

       Fourth, mountains, rivers, forests, fields, lakes and grasslands are a community of life. We need to take overall consideration, adopt holistic measures and adopt multiple measures to promote ecological progress in all areas, regions and the whole process.

       Fifth, we will protect the ecological environment with the strictest institutions and the strictest rule of law, accelerate institutional innovation, strengthen institutional enforcement, and turn institutions into rigid constraints and untouchable high-tension lines.

       Sixth, we should work together for global ecological progress, take an active part in global environmental governance, develop solutions for global environmental protection and sustainable development, and guide international cooperation on climate change。

       Xi stressed that to speed up the construction of ecological civilization system, we will accelerate the establishment of a sound ecological values as the criterion of ecological culture system, to industrial ecology industrialization as the main body of ecological economy and ecological system, and to improve ecological environmental quality as the core target responsibility system, management system and management ability of modern as safeguard system of ecological civilization, to ecosystem virtuous cycle and environmental risks, with emphasis on the effective prevention and control system of ecological security.

        By speeding up the building of an ecological civilization system, we will ensure that by 2035, the quality of the ecological environment will be fundamentally improved and the goal of creating a beautiful China will be basically achieved. By the middle of this century, material progress, political progress, cultural and ethical progress, social progress and ecological progress will be made in an all-round way; green development and living styles will be developed in an all-round way; harmony between man and nature will be established; and the modernization of China's system and capacity for ecological and environmental governance will be fully realized.

       Xi called for an all-round push for green development. Green development is an inevitable requirement for building a high-quality modern economic system and a fundamental solution to pollution. With a focus on the adjustment of economic structure and energy structure, the optimization of national spatial development layout, adjust the regional industry layout of the basin, strengthen energy conservation and environmental protection industries, industry clean production, clean energy industries, and promote the overall saving resources and recycling, production systems and life systems circulation links, advocate contracted moderately, green low carbon way of life, oppose extravagance and waste and unreasonable consumption.

       Addressing prominent ecological and environmental issues should be a priority for people's livelihood, Xi said. It is of Paramount importance to resolutely win the battle to protect our blue skies. We must make significant improvement in air quality the firm requirement, strengthen joint prevention and control efforts, and basically eliminate heavy pollution, so that people's blue skies, clouds, and stars shine again. We will thoroughly implement the action plan for the prevention and control of water pollution, ensure the safety of drinking water, basically eliminate the black and smelly water in urban areas, and give back to the people the sight of green Banks and shallow fish. We will fully implement the action plan for the prevention and control of soil pollution, highlight key areas, industries and pollutants, strengthen the control and remediation of soil pollution, and effectively guard against risks so that people can eat and live at ease. We will continue to improve the living environment in rural areas, build beautiful villages, and keep the rural scenery of birds, flowers and flowers for the people.

       Xi called for effective prevention of ecological and environmental risks. Ecological and environmental security is an important part of national security and an important guarantee for sustained and healthy economic and social development. We will bring ecological and environmental risks into regular management, and systematically build a whole-process, multilevel system for preventing ecological and environmental risks. We will accelerate the reform of the system for promoting ecological progress, ensure the implementation of the reform measures we have introduced, and formulate new reform plans in a timely manner.

       Xi stressed the need to improve environmental governance. We should make full use of market forces, improve the pricing mechanism for resources and the environment, support government-private capital cooperation projects in various ways, step up efforts to tackle key scientific and technological problems in major projects, and conduct research on countermeasures to major ecological and environmental problems affecting economic and social development. We need to implement a national strategy for actively addressing climate change, promote and guide the establishment of a global climate governance system that is fair, reasonable and win-win through cooperation, highlight China's image as a responsible major country, and promote the building of a community with a Shared future for mankind.

       Xi stressed that the fight against pollution is a big, tough and arduous battle with tight time, heavy tasks and great difficulty, and the party's leadership must be strengthened. All localities and government departments should enhance their awareness of the "four senses", firmly uphold the authority and centralized, unified leadership of the CPC central committee, and resolutely shoulder the political responsibility for promoting ecological progress.

       Local Party committees and governments at all levels are the primary leaders responsible for ecological and environmental protection in their respective administrative areas. All relevant departments should fulfill their responsibilities for ecological and environmental protection, and make sure that all departments are responsible and responsible for protecting the soil, and work together through division of labor. We should establish a scientific and reasonable assessment system, and the assessment results should serve as an important basis for the use of rewards, punishments and promotions for leading bodies and cadres at all levels. Those leading officials who have harmed the ecological environment must be held accountable, dare to be held accountable, and must be held accountable for their actions throughout their lives.

       We will build an iron army for ecological and environmental protection. We will be politically strong, highly skilled, have a hard style of work, dare to shoulder our responsibilities, and be particularly able to endure hardship, fight and make contributions. Party committees and governments at all levels should care about and support the building of the ranks of the people in charge of ecological and environmental protection, and take the initiative to support and encourage cadres who are brave and capable of doing their jobs.

Premier Li: We will strengthen efforts to control the three major sources of pollution, namely, industrial, coal-fired and motor vehicles

       Should understand and learn to implement the general secretary of the important speech spirit, xi jinping new times the thought of socialism with Chinese characteristics as guidance, strive to build ecological civilization system, strengthening the construction of system and the rule of law, perseverance to pay special attention to the construction of ecological civilization and ecological environment protection, resolutely play pollution control to be completed.

         We will focus on key areas and areas, focus on strengthening the treatment of the "three major sources of pollution" -- industry, coal burning and motor vehicles -- and resolutely win the battle to protect our blue skies. We will fully implement the Water and soil Regulations, strengthen the construction of pollution control facilities, and raise the capacity of urban sewage collection and treatment.

       We will take targeted measures to control pollution of agricultural land. We will focus on the treatment of rural garbage and sewage and the improvement of the appearance of villages. We will promote the comprehensive improvement of the rural environment, and the state will tilt its investment in rural areas in this direction. We should promote green development and prevent and control environmental pollution at its source.

We will deepen supply-side structural reform, implement the strategy of innovation-driven development, and foster new growth drivers such as new industries, new forms of business, and new models. We will use new technologies such as the Internet, big data and artificial intelligence to make traditional industries smarter and cleaner.

       We will accelerate the development of energy conservation and environmental protection industries, raise the level of clean energy utilization, and develop clean energy. We will advocate a simple and moderate, green and low-carbon lifestyle and foster a virtuous cycle of expanding domestic demand and improving the ecological environment.

       We should strengthen ecological protection and restoration and build ecological safety barriers. We will establish a unified spatial planning system and a coordinated and orderly pattern of land development and protection, strictly observe the red line for ecological protection, adhere to the overall protection, systematic restoration, regional planning, and comprehensive treatment of mountains, rivers, forests, fields, lakes, and grasslands, and improve the systems and mechanisms for the management of natural protected areas. We will work in a coordinated way to promote high-quality economic development and high-level ecological and environmental protection, give full play to the leading role of the government and enterprises, and fight a tough battle against pollution and a protracted battle for ecological progress.

       Li stressed that we should rely on reform and innovation to improve the ability of environmental governance. We will gradually establish a regular and stable mechanism for government funding, improve the mechanism for diversifying investment in environmental protection, and study and introduce structural tax reduction policies conducive to green development. We will continue to streamline administration and delegate more power to lower-level governments, and put more effort into ongoing and ex-post oversight, including environmental protection. Seize the key technologies and equipment. We will strengthen supervision and law enforcement and substantially raise the cost of environmental violations. We will guide the whole society to foster awareness of ecological progress. We will ensure that the battle against pollution and the building of an ecological civilization are completed.

       In his concluding remarks, Han zheng pointed out that xi Jinping thought on ecological civilization should be carefully studied and understood, and the sense of responsibility and mission for ecological and environmental protection should be strengthened. We must firmly grasp that clear waters and green mountains are the golden mountains and silver mountains, and take a new path of green development that gives top priority to ecology. A sound ecological environment is the principle that benefits the people, and we have worked hard to solve prominent environmental problems that harm people's health. It is the systematic thought of life community to grasp deeply mountains, rivers, forests, fields, lakes and grasses, so as to improve the scientific and effective work of ecological environment protection. All regions and departments should pay close attention to implementation, refine and implement policies and measures, and ensure their implementation, operability and effectiveness. We should strictly implement the principal responsibilities and strengthen the central government's environmental protection inspectors. We must proceed from reality in everything we do, address both the symptoms and root causes, address the root causes, overcome difficulties, and prevent people from being too eager for quick success and instant benefits. We should set our goals steadily and resolutely, advance our work in an orderly manner, and solve problems in a down-to-earth manner. We will effectively deal with pollution in accordance with the law, strictly enforce laws, and promptly integrate the responsibilities and teams of law enforcement for pollution prevention and ecological protection. To ensure that the statistics and assessment data of various targets and tasks are true and accurate, and to win the trust of the people with actual results.

       Officials from the National Development and Reform Commission, the Ministry of Finance, the Ministry of Ecology and Environment, Hebei province, Zhejiang Province and Sichuan Province delivered exchange speeches.

       Member of the Political Bureau of the CPC Central Committee, Member of the Secretariat of the CPC Central Committee, relevant leading comrades of the STANDING Committee of the National People's Congress, State Councillor, President of the Supreme People's Court, Procurator-General of the Supreme People's Procuratorate, and relevant leading comrades of the CPPCC National Committee attended the meeting.

        Responsible persons of all provinces, autonomous regions and municipalities directly under the State Council, Xinjiang Production and Construction Corps, relevant departments of central and state organs, relevant people's organizations, relevant state-owned large enterprises and relevant units of the armed forces attended the meeting.

環(huán)保概念板塊有望崛起

       Since 2017, energy conservation and environmental protection expenditures in the national public finance budget have grown rapidly again, and the proportion of environmental protection expenditure in GDP has increased. Every year, hundreds of billions of yuan is spent on environmental protection, and the government's financial investment in the environmental protection industry keeps increasing. In 2017, the public financial expenditure in the environmental protection industry reached 567.2 billion yuan, with a year-on-year growth rate of up to 20%. In 2017, the fiscal expenditure in the environmental protection industry accelerated significantly.

       According to the historical valuation of the environmental protection industry, it reached its peak in mid-2015, with the overall valuation of the industry being 73 times, according to the research report of Northeast Securities. In recent years, continued to concerns about the quality of the PPP achievements, and some of the company's performance is not up to expectations, the overall valuations continue to move down the environmental protection industry, to 2018 1 quarter of environmental protection and utility value of about 30 times (TTM), in which water sector valuations for 26 times, gas plate valuation of 30 times, both in the low level in nearly 10 years history. With the gradual standardization of PPP, the overall valuation of the environmental protection industry is expected to be adjusted in the second half of the year.

       According To huatai Securities research report, from the perspective of the characteristics of downstream customers, environmental enterprises make profits through three main channels: government (TO-G), enterprise (to-b) and consumer (to-C), namely government purchase orders, enterprise payment, and market oriented consumer sales. On the whole, municipal environmental protection is mainly a TO-G business model, while industrial environmental protection is mainly a TO-B business model. In a macro environment where the year-on-year growth of M2 is down, the loan environment is tight and interest rates remain high, sub-industries and companies with strong free cash flow creation ability are favored. 

Huatai Securities put forward the idea of stock selection with cash as the king, and selected stocks with strong balance sheet (low asset-liability ratio) and outstanding capital use efficiency:

      To-g end: It is suggested To pay attention To the ROIC high Longma Environmental sanitation (sanitation), Shidingde (solid waste faucet), Bishui Source (water treatment faucet), Weiming Environmental protection (waste incineration), Hanlan Environment (waste treatment + water + gas), Xingrong Environment (water + waste treatment);

      To-b end: Recommend Clean water + Guozhen Environmental Protection (industrial water), SINOsteel International + Dongjiang Environmental Protection + Jinyuan (industrial hazardous waste), Longjing Environmental Protection (industrial gas). In addition, we recommend the high quality companies in the testing industry with abundant cash flow.

       According to Dongbei Securities, with the improvement of macro economy and the vigorous promotion of national policies such as coal to gas, the average annual growth rate of domestic natural gas consumption is more than 10%. At present, the growth of domestic natural gas production is not as fast as that of consumption, and a large number of natural gas imports make the dependence on foreign resources close to 40%. We judge, in the recovery of oil prices and driven by high consumption, natural gas source end and coal to gas theme will continue to be positive. Suggested attention: Bishuiyuan, Bosch, Jinyuan, Longjing Environmental Protection, Baichuan Energy.

       In addition, environmental funds held positions at a five-year record low, northeast Securities said. The ratio of the market value of environmental protection industry (Shenwan Level 2) funds to the total market value of fund stock investment has been gradually declining since 2014. In the first quarter of 2018, the ratio of the market value of environmental protection industry funds to the total market value of fund stock investment was 1.15%, down 0.38 percentage points from the end of 2017, reaching the lowest level in five years.

       In general, the vigorous promotion of environmental protection policies has significantly promoted the status of environmental protection, and the downward macro interest rate has gradually standardized THE PPP, while the overall valuation and position of the environmental protection industry are at the lowest level in the past five years. The environmental protection industry is expected to reverse in the second half of the year, which is the best allocation time.