2019 年以来，国家坚持“房住不炒”，房地产开发投资趋缓;地方债务监管从严，基建投资复苏不及预期。受此影响，建筑业需求不足.1~12月，我国建筑业投资累计同比负增长63.8%,降幅较去年同期大幅扩大49.9个百分点;同期，建筑业完成总产值248446亿元，同比增长5.7%，增速较去年同期回落4.18个百分点，增速低于GDP增速0.4个百分点;房屋新开工面积累计227154万平方米，同比增长8.5%，较去年同期下滑8.7 个百分点。

再融资政策部分条款调整：发行定价、融资条件、退出条款上均明显改善。2 月14 日，证监会发布上市公司再融资制度部分条款调整涉及的相关规则，对再融资政策关于发行定价、融资条件、退出条款等方面有一定的放松；从历史上来看，再融资政策经历了2014 年-2016 年的放松期，2017-2019年的收紧期

政策和技术驱动下有总包/装配式/技术三重变化，人口城镇化/消费和工业升级加码需求端，钢结构有4 倍以上提升空间，行业将元年爆发，建筑望迎第3 次α 翻倍行情。

Indian economy witnessed a growth of 7.3% in 2018, as compared to 6.7% last year. In the last few years, the GDP growth rate trend of Indian economy has changed from being steady to strong and now to fastest in the world. Indian economic growth is fueled by the upswing in private consumption expenditure in the past few years. It is projected to remain robust and the investment growth is also expected to continue in the coming years. As per the analysis, the non-resilient segment holds the major share of the market, followed by resilient flooring and textiles (carpet and area rugs). The Indian textile industry has a noteworthy presence in both the Indian economy and in the international textile economy. The growth in the disposable income of the middle and lower middle-class sections of the society has led to continuous growth of the demand of textile in India. Home textile usually includes products, such as bedsheets, pillowcases, blankets, terry towels, upholstery, table clothes, carpets, and rugs. India provides a cost-effective model of manufacturing for textile players. As compared to the key competing countries, India has competitive labor cost, power cost, and water cost. The higher finance cost, compared to competing countries, is partially mitigated through various government policies, thus the effective cost of capital becomes comparable.

ncreasing construction activity in the infrastructure sector is the primary driver for the growth of the Indian construction sector. According to the IBEF, India needs infrastructural investments worth INR 50 trillion by 2022, to have sustainable development in the countr y. In India, the infrastructure sector is a key driver for the country’s economy and is highly responsible for propelling the country’s overall development. The Indian government has played an important role in developing world-class infrastructure in the country. Investments from the private sector are expected to show moderate- to-high growth, owing to the factors, such as increased stability in infrastructure projects, corporate deleveraging, and implementation of the Goods and Services Tax (GST). In 2018, the infrastructure sector in India witnessed private equity and venture capital investments worth USD 1.97 billion. The private equity and venture capital investments are expected to surpass USD 65 billion in 2025. In June 2018, the Asian Infrastructure Investment Bank (AIIB) announced its decision to invest USD 200 million in India’s National Investment and Infrastructure Fund (NIIF).