智通财经网·2025-11-27 03:57Core Viewpoint - The consumption industry in China needs to focus on the medium- and long-term goals outlined in the "14th Five-Year Plan," with short-term attention on policies related to consumption by 2026. The outlook for overseas business development in the consumption sector by 2026 is optimistic [1][2]. Group 1: Background and Policy Initiatives - On November 26, six departments issued a notice regarding the "Implementation Plan for Enhancing the Adaptability of Supply and Demand for Consumer Goods," aiming for a significant optimization of the supply structure by 2027, creating three trillion-level consumption fields and ten hundred-billion-level consumption hotspots [2]. - By 2030, a high-quality development pattern characterized by positive interaction between supply and consumption is expected to be established, with a steady increase in the contribution of consumption to economic growth [2]. Group 2: Consumption Stimulus Measures - National subsidies are the fastest way to stimulate short-term demand, with significant policy support since July 2024, including a special bond fund of 150 billion yuan allocated for supporting the replacement of consumer goods. An additional 300 billion yuan is planned for 2025 [3]. - The Central Economic Work Conference in December 2024 prioritized boosting consumption as the main task for 2025, leading to various policies aimed at enhancing consumption [4]. Group 3: Implementation Plan Measures - The "Implementation Plan" outlines five major areas with nineteen initiatives, including accelerating the application of new technologies and models, expanding the supply of unique and new products, and accurately matching the needs of different consumer groups [5]. - It also emphasizes cultivating new consumption scenarios and business formats, as well as creating a favorable development environment through financial support and market order maintenance [5]. Group 4: Investment Recommendations - Investment focus includes high-dividend quality companies during market style shifts, with specific recommendations in various sectors such as new consumption in the social service sector (e.g., Gu Ming, Da Mai Entertainment, Mi Xue Group) and food and beverage (e.g., Dongpeng Beverage, Lihigh Food) [6]. - Other sectors of interest include agriculture (e.g., Zhongchong Co.), sportswear (e.g., Anta Sports, Xtep International), and technology consumption (e.g., TCL Electronics, Hisense Home Appliances) [6].