商贸零售行业跟踪周报：浙江省省委书记调研小商品城；小商品城数贸中心召开新闻发布会公布行业布局方案

Investment Rating - The report maintains an "Overweight" rating for the industry [1] Core Viewpoints - The Global Digital Trade Center in Yiwu is a key project that will significantly expand the existing operating area of the small commodity city, with a total investment exceeding 8.3 billion yuan and a construction area of over 1.25 million square meters [2][21] - The industry layout direction includes fashion beauty, maternal and infant products, outdoor leisure, technology consumption, and fabric [2][22] - The report highlights the growth potential of the small commodity city, driven by the opening of the Global Digital Trade Center and the increasing demand for digital trade and market reforms [4][25] Summary by Sections 1. Industry Viewpoints This Week - The Yiwu Global Digital Trade Center's industry layout was announced on November 22, with a focus on expanding the operational area and enhancing the market's digital capabilities [21] - The center will cover over 560 acres and include more than 5,000 commercial spaces, catering to various consumer needs [2][21] 2. Market Review This Week - From November 25 to November 30, the Shenwan Commercial Trade Index increased by 7.28%, indicating a positive market trend [26] - Year-to-date, the Shenwan Commercial Trade Index has risen by 13.61%, outperforming other indices [26][29] 3. Valuation Table of Sub-Industry Companies - The report includes a valuation table for various companies, with several rated as "Buy" based on their projected earnings growth and market performance [31][34] - Notable companies include Proya (total market value: 36.3 billion yuan, P/E 30 for 2023A) and Betaini (total market value: 20.9 billion yuan, P/E 28 for 2023A) [31][34]