Recently, central enterprises have held intensive annual work meetings to deploy key tasks for 2026. The reporter found that planning a batch of major projects and landmark projects ahead, continuously expanding effective investment, and further promoting layout optimization and structural adjustment are key points. Industry insiders believe that the investment logic of central enterprises is undergoing significant changes, and the increase in the layout of emerging and future industries will have a comprehensive and three-dimensional driving effect on the entire industrial chain. The Guangdong section of the ± 800 kV high-voltage direct current transmission project from southeastern Tibet to the Guangdong Hong Kong Macao Greater Bay Area (hereinafter referred to as the "Tibet Guangdong DC Project") has officially started construction in Boluo County, Guangdong Province. As China's first UHV transmission project across the three geographical steps of the Qinghai Tibet Plateau, the Yunnan-Guizhou Plateau and South China hills, the total investment of the Tibet Guangdong DC project is about 53.2 billion yuan, and it is planned to complete the investment of more than 1 billion yuan in the first quarter of 2026. After the project is put into operation, over 43 billion kilowatt hours of clean electricity from southeastern Tibet can be transmitted to the Guangdong Hong Kong Macao Greater Bay Area annually. "This year, China Southern Power Grid Corporation has allocated 180 billion yuan of fixed assets investment, a record high for five consecutive years, with an average annual growth rate of 9.5%. It will focus on the construction of new power systems, the development of strategic emerging industries, the improvement of quality power supply services and other fields, and implement major projects in the" Tenth Five Year Plan "ahead. ”The relevant person in charge of Southern Power Grid Corporation stated. 2026 is the starting year of the 15th Five Year Plan. The State owned Assets Supervision and Administration Commission of the State Council requires central enterprises to make every effort to stabilize operations, improve quality and efficiency, and "accumulate development potential through effective investment". It is explicitly required to focus on key areas such as strengthening the industrial chain to make up for deficiencies, infrastructure construction, energy and resource security, and forward-looking industrial layout, and make good use of various supportive policies to plan and implement a number of major projects and landmark projects at the forefront. Central enterprises have been taking the lead in formulating specific targets and measures to stabilize growth and expand investment. State Grid disclosed that fixed assets investment during the "15th Five Year Plan" period will reach 4 trillion yuan, a record high, and the total investment will increase by 40% over the "14th Five Year Plan" period. General Technology Group has clearly stated its commitment to effective investment and strong support, focusing on key areas and implementing a number of key projects in conjunction with the "15th Five Year Plan". China Telecom proposed to accelerate the construction of new digital information infrastructure, promote the layout of the national integrated computing power network system, moderately advance and accelerate the construction. The emphasis on 'forward planning' by central enterprises to expand effective investment is a proactive action made by state-owned enterprises as the 'backbone' and 'ballast stone' of the national economy in the face of complex internal and external environments at the beginning of the 15th Five Year Plan. It is not only a response to short-term stable growth pressure, but also a profound layout for long-term high-quality development and cultivation of new quality productive forces. ”Zhu Changming, partner of Sunshine Times Law Firm and head of the State owned Enterprise Mixed Reform Center, said in an interview with Economic Reference Daily. It is reported that during the 14th Five Year Plan period, the average annual growth rate of investment in emerging industries by state-owned enterprises and central enterprises exceeded 20%. Facing the 15th Five Year Plan, state-owned enterprises will coordinate and optimize the layout of the state-owned economy on a larger scale, at a deeper level, and in a wider range of fields. From the deployment of the 2026 annual work conference of central enterprises, while accelerating the transformation and upgrading of traditional industries, the layout of emerging and future industries such as commercial aerospace, low altitude economy, artificial intelligence, and new energy will be further strengthened. For example, the China Aerospace Science and Technology Corporation will take multiple measures to optimize its industrial layout, adjust its industrial structure, vigorously develop new industries such as commercial aerospace and low altitude economy, look ahead to future industries such as space intelligence, and strengthen international market expansion and high-quality performance. China Mobile requires the promotion of market innovation, the construction of a business system adapted to its main business, and the creation of three major growth curves in communication, computing power, and intelligent services. China Huaneng has proposed to accelerate green development and accelerate the construction of a new pattern of high-quality development with new energy, hydropower, and nuclear power as the "three major supports" for transformation and continuous optimization of coal-fired power development. The reporter noticed that around the construction of a specialized and market-oriented industrial investment and financing system, state-owned capital investment and operation companies will also better play a platform role. Taking China Chengtong as an example, it is proposed to expand and strengthen the "vanguard" of science and technology innovation funds, accelerate the establishment and operation of merger and acquisition funds and overseas funds, strengthen the coordination and service efficiency of the entire fund system, promote the precise development of the fund investment system, and forge "pioneers". In Zhu Changming's view, the investment logic of central enterprises in 2026 is undergoing profound changes, shifting from pursuing asset size to pursuing industrial leadership and value creativity, showing characteristics of focusing on strategic frontiers, innovating organizational models, and optimizing industrial layout. Firstly, the investment direction is highly focused on the integration of "two new" and technological innovation, and the trend of structural optimization is significant; Secondly, the investment model emphasizes more on "innovation alliance" and "ecological co construction", breaking through the single point combat thinking; Thirdly, investment layout pays more attention to "strategic restructuring" and "industrial synergy" to enhance system efficiency. This series of measures will have a comprehensive and three-dimensional driving effect on the entire industry chain. Zhou Lisha, a researcher at the China Enterprise Reform and Development Research Association, believes that central enterprises can accumulate development potential by promoting the implementation and landing of a number of major projects at the forefront. For example, in urban renewal and other construction projects, consumer vitality can be further unleashed; In the fields of "new infrastructure" such as smart logistics, charging networks, and 5G Internet of Things, the production and consumption links will be unimpeded; In cutting-edge fields such as low altitude economy, new quality productivity can be cultivated, and future industrial ecology and consumption patterns can be incubated. (New Society)