央地政策形成合力，多地生育政策加速落地

Investment Rating - The industry investment rating is "Overweight" indicating that the growth level of the industry is expected to be higher than that of the CSI 300 index in the next six months [26]. Core Insights - The implementation of the childbirth subsidy policy in Hohhot is expected to serve as a model for other regions, potentially enhancing the overall birth rate in society [16][18]. - The current shift in residents' childbirth views towards "fewer but better" children is influenced by economic burdens, childcare, education, and women's career development considerations [18]. - The report anticipates that more regional measures related to childbirth, education, and social welfare will be implemented, which could boost residents' willingness to have children and improve the overall birth rate [18]. Summary by Sections Market Performance Review - The social services sector index experienced a weekly increase of 3.71%, ranking 5th among 31 first-level industries [5]. - The performance of sub-industries included: hotel and catering (5.38%), tourism and scenic spots (5.21%), and education (5.06%) [5]. Industry News Dynamics - The central and local policies are aligning to promote childbirth subsidies, with 23 provinces exploring such policies, and several cities already implementing them [16]. - The report highlights that the Hohhot subsidy policy is significant in its support and coverage, aiming to alleviate the burden of childcare and enhance birth intentions among residents [15][17].