1, food and beverage. Whether it's an economic boom or an economic crisis, the demand for food and FMCG (including beverages) will never disappear because people have less money in their hands. Of course, the demand for food and beverages becomes stronger when the economy is booming. For example, during the decade-long period from 2003 to 2016, the cumulative excess return of the food and beverage industry and the consumer food price index maintained a significant positive correlation.

Because the people in the hands of more money, the original go out and only drink mineral water, now have to drink milk tea. Therefore, the food and beverage industry and then the economic crisis can show a clear defensive, in the economic boom is a reflection of consumer upgrading.2, textile and clothing. Textile industry in the past is just demand, now although the demand is not low, but is already a sunset industry, and with the impact of people's consumption upgrade, people's demand for textiles is no longer worn on the body as simple as clothes. Data show that the sub-sector look, sports and decorative apparel demand is the highest, while the general public apparel is general performance. In addition, the upstream of textiles is also facing profitability pressure. As of June 30, 2019, the cotton price 328 index was 14,189 yuan per ton, down 7.7% from the beginning of 19, the upstream cost end is stable, and the profitability of textile enterprises is under pressure.

3, pharmaceutical and biological. Now China is facing the problem of aging, and the increase in the aging population will bring huge medical demand, after all, everyone can not escape from the sick, once sick naturally can not escape the demand for drugs. Pharmaceutical and biological in previous years there has been a period of market, industry leading stocks are highly favored by public and private fund managers, whenever in large investment forums, there must be no escape on the topic of investment opportunities in pharmaceutical and biological. This may be the health care reform policy at the time, but no matter what, the fact that pharmaceutical biology just need will not change.4, airport port infrastructure. Airport ports and other infrastructure projects by the degree of economic boom is relatively small, on the contrary, sometimes still pull the economy one of the means to stabilize growth, such as through the old reform to stimulate growth and stabilize employment. In addition, the airport and port construction is also urbanization and metropolitan area construction of key auxiliary projects, in order to be rich, transportation first, urban transportation and logistics faster, the transaction costs fell, naturally also conducive to economic growth. 5, public **** cause. Public **** cause belongs to the state-subsidized industries, such as water, electricity, gas, network, although nowadays there is private capital to enter, but the pricing mechanism, operating mechanism, etc. is still basically run by the state, so there is no substantial fluctuations in its industry earnings, when the economic crisis, the defense is also stronger.