社会服务行业快评报告：服务消费迎政策助力，多措并举扩大内需

Investment Rating - The industry investment rating is "Outperform the Market," indicating an expected relative increase of over 10% in the industry index compared to the broader market within the next six months [10]. Core Insights - The report highlights that service consumption in China is set to rebound, with service consumption expenditure expected to reach 46% of total consumption in 2024, returning to pre-pandemic levels and approaching the critical 50% mark [2][4]. - The joint policy measures introduced by nine government departments aim to enhance service consumption, showcasing a strong commitment from the government to boost service consumption quality and quantity [2][3]. Summary by Sections Policy Measures - The new policy measures include 19 specific actions across various sectors such as culture, tourism, sports, education, and health, focusing on enhancing service consumption through platform construction, supply-side improvements, demand-side stimulation, and financial support [2][3]. - Key highlights include the launch of "Service Consumption Seasons" to promote activities in high-demand service areas, and measures to expand supply by relaxing restrictions and attracting external capital [3]. Investment Recommendations - The report suggests focusing on specific sectors that will benefit from the policy measures, including: - Cultural Tourism: Emphasizing inbound tourism and youth travel, with recommendations to monitor leading travel agencies and scenic spots [4][9]. - Trendy Toys: Noting the rapid growth of the trendy toy market, with a focus on companies with strong IP resources and broad channel layouts [9]. - Sports: Highlighting the significant potential in event-driven consumption, recommending attention to companies involved in event operations and related services [9]. - Education: Encouraging investment in non-academic training and vocational education sectors, particularly those positioned to benefit from supportive policies [9].