5% 增速为区间上线 。 今年政府工作报告将经济增长目标设在 4.5%-5% ，采用区间目标既守住基本增速，也符合"树立正确政绩观"的要求，"在实际工作中努力争 取更好结果"。历史来看， 2016 年、 2019 年也设定了区间经济增长目标， 一方面， 更灵活的区间能够为深化结构性改革、培育新质生产力、化解地方债务风险等 中长期任务预留更充裕的政策空间， 另一方面， 也体现了"做优增量"、"提质增效"的政策导向。 报 告 正 文 推动 CPI 向温和通胀靠拢。 2026 年全国 CPI 目标仍设定为 2% ， 2025 年之前，全国政府工作报告将 CPI 目标设定在 3% 左右，主要为控制 CPI 的涨幅。 2025 年 以来， 一是 随着供需矛盾凸显，物价目标下移至 2% ， 二是 CPI 增速不再仅仅是一个预期性的数字，而是宏观政策尤其是货币政策的重要考量。 2026 年 CPI 目标 持平去年，旨在推动"物价合理回升"，以缓解低通胀压力，改善企业盈利和居民收入预期。 就业指标保持稳定。 2026 年城镇新增就业人数继续保持在 1200 万人以上的目标不变（ 2021-2022 年为 1100 万人、 2 ...

宏 观 研 究 内需主导，民生为先 ——《政府工作报告》解读 投资要点： 宏 观 点 5%增速为区间上线。今年政府工作报告将经济增长目标设在 4.5%-5%，采用区间目标既守住基本增速，也符合"树立正确政绩观"的 要求，"在实际工作中努力争取更好结果"。历史来看，2016 年、2019 年也 设定了区间经济增长目标，一方面，更灵活的区间能够为深化结构性改革、 培育新质生产力、化解地方债务风险等中长期任务预留更充裕的政策空间， 另一方面，也体现了"做优增量"、"提质增效"的政策导向。 评 推动 CPI 向温和通胀靠拢。2026 年全国 CPI 目标仍设定为 2%，2025 年之前，全国政府工作报告将 CPI 目标设定在 3%左右，主要为控制 CPI 的涨幅。2025 年以来，一是随着供需矛盾凸显，物价目标下移至 2%，二 是 CPI 增速不再仅仅是一个预期性的数字，而是宏观政策尤其是货币政策 的重要考量。2026 年 CPI 目标持平去年，旨在推动"物价合理回升"，以 缓解低通胀压力，改善企业盈利和居民收入预期。 财政政策力度稳中有进。政府工作报告表示要"实施更加积极的财政 政策"，具体工具上：首先，赤字率拟继 ...

Core Insights - The Yunnan provincial government plans to issue a total of 1 billion yuan in "Colorful Cloud Consumption Coupons" to stimulate market activity and consumer spending, focusing on various sectors including automotive, e-commerce, and tourism [1][2] Group 1: Consumption Coupons - A total of 820 million yuan is allocated for various types of consumption coupons, including those for automotive, e-commerce, food, and tourism, with specific themes and events planned for distribution [1] - The film consumption coupon will launch in May with a budget of 10 million yuan, available to both residents and tourists [1] - Sports consumption coupons are set at 30 million yuan, usable for event tickets and fitness services [1] Group 2: Retail and Supply Chain Innovation - An allocation of 65 million yuan is designated for retail innovation, focusing on scene-based transformation and digital empowerment [2] - 58 million yuan is earmarked for optimizing the agricultural supply chain and modernizing trading markets [2] - 57 million yuan is intended for fostering new consumption models and enhancing service offerings in areas like night markets and cultural performances [2] Group 3: Policy Implementation and Monitoring - The provincial finance department is working on funding and establishing a communication mechanism for policy evaluation and optimization, ensuring proper fund management [3] - The provincial commerce department will implement a comprehensive approach to improve retail quality and supply chain efficiency [3] Group 4: Economic Impact and Future Plans - Over the next two years, 12.713 billion yuan will be allocated for consumption initiatives, expected to significantly boost consumer sentiment and economic recovery [4] - The issuance of 1 billion yuan in consumption coupons is projected to directly drive over 65 billion yuan in consumer spending [4] - Online retail sales in the province grew by 14.2%, outperforming the national average, while restaurant revenues increased by 4.2% [4]

消费品质：健康化、智能化、绿色化趋势凸显 旅游消费呈现"双向火爆"特征。国内游方面，"反向过年"带动高线城市人流，北京、天津、南京重点业 态日均销售额分别增长12%、10%、11%；县域旅游热度走高，南充、开封等三四线城市景区交易笔数 同比增长超五成。根据微信发布的报告，跨境游方面，马来西亚、马尔代夫等带"马"字目的地迎来"生 肖游"热潮，线下交易消费金额同比分别大涨131%和186%。春运前20天全国跨区域人员流动达50.8亿人 次，创历史最高水平，同比增长5.5%。 餐饮消费持续释放潜力。商务大数据显示，春节期间，全国重点零售和餐饮企业日均销售额，比去年同 期增长5.7%，增速提高1.6个百分点；重点监测的78个步行街（商圈）客流量、营业额分别增长6.7%和 7.5%。 2026年春节消费数据描绘出一幅"科技让传统更鲜活，环保让年味更清新，体验让团圆更温暖"的新图 景。 2026年马年春节，中国消费市场呈现出"马力全开"的强劲态势。作为"史上最长春节假期"（除夕前一天 即开始放假，共9天），叠加多项促消费政策持续发力，居民消费意愿明显增强，消费结构持续优化， 展现出从物质满足向精神体验、从传统实物向智能健 ...

转自：云南日报 政策组合精准滴灌 文旅场景推陈出新 我省商品供应货丰价稳，市场运行平稳有序。全省商务系统提前谋划，强化市场监测、货源组织和应急 保障，指导各大商超、农贸市场、餐饮企业加大货源组织力度。节日期间，全省生活必需品种类丰富、 货足价稳，市场平稳有序。数据显示，十二大类生活必需品价格较节前一周呈"4涨3平5降"态势。其 中，鸡蛋、蔬菜、奶制品、肉类较节前一周分别上涨1.5%、0.5%、0.4%、0.2%；食盐、瓶装饮用水、 水产品与节前一周持平。（记者 韩成圆） 责任编辑：董翔宇 云南春节消费市场热力十足 全省商旅文体场景推陈出新，旅游流量有效转化为消费增量。非遗展演、文创IP、民俗体验等持续点燃 融合消费新热潮，目瑙纵歌节、赶摆活动、跨国春晚、澜沧江啤酒狂欢节等场景各有特色。商圈街区联 动餐饮、零售商家创新消费场景，玉溪青花街"2026年青花街年货节"与"玉溪米线文化节"双节联动，普 洱"来云南普洱茶马古城品茶寻马 迎特色新春"活动展现多彩民族文化。曲靖外滩组织非遗火壶、风火 流星等系列主题活动，夜间消费持续升温。数据显示，春节期间，云南居住服务销售额同比增长 6.6%，云南重点商圈日均客流较平日增 ...

商旅文体场景推陈出新，旅游流量有效转化为消费增量。非遗展演、文创IP、民俗体验等持续点燃融合 消费新热潮，目瑙纵歌节、赶摆活动、跨国春晚、澜沧江啤酒狂欢节等场景各有特色。商圈街区联动餐 饮、零售商家创新消费场景，玉溪青花街"2026年青花街年货节"与"玉溪米线文化节"双节联动，普 洱"来云南普洱茶马古城品茶寻马 迎特色新春"活动展现多彩民族文化。曲靖外滩组织非遗火壶、风火 流星等系列主题活动，夜间消费持续升温。第三方大数据显示，春节期间云南居住服务销售额同比增长 6.6%，云南重点商圈日均客流较平日增长31.5%，全省夜间消费同比增长22.7%。 舌尖年味浓，餐饮消费热力足。春节假期，省商务厅举办印度洋海鲜节，发放"有一种叫云南的生活·印 度洋海鲜节"专项消费券。全省商务系统发布"我在云南过大年·云南菜美食地图"，推出印度洋海鲜年夜 饭套餐及首批"外宾同款套餐"品鉴餐厅名单，联动大众点评、美团等平台上线"州市美食地图"，让市民 游客在舌尖上感受别样年味。昆明"寻味春城·滇菜食神大赛"、玉溪米线专项消费券、大理"美食嘉年 华"、保山美食展等活动轮番登场，老字号餐馆、特色小吃街人气爆棚，餐饮消费烟火升腾。第三方大 ...

与去年旅游人次率先复苏、花费相对承压的格局相比，今年春节假期旅游市场结构显著优化。从各地已 公布的旅游数据来看，出游总花费同比增速已普遍接近甚至超过出游人次增速，旅游拉动住宿、餐饮、 购物、娱乐等产业链消费的乘数效应正加速释放，且综合型目的地的消费弹性优于单一景区型目的地。 旅游大省中，四川今年春节接待游客与旅游总花费同比分别增长14.68%和13.35%，广西两项指标同比 增速分别为41.9%和49.3%，消费增速与人次增速已基本同步。一线城市中，北京累计接待游客与旅游 总花费同比分别增长12.81%/15.59%，上海接待游客人次与全要素旅游消费交易总额同比分别增长 8.36%/20.90%，广州接待游客与文旅消费总额同比分别增长9.3%/11.6%，消费额增速均显著高于客流增 速。在长假期催化下，旅客停留天数延长、消费深度增加，人均消费潜力得到有效释放。 智通财经APP获悉，万联证券发布研报称，经文旅部数据中心测算，春节假日9天，全国国内出游5.96 亿人次，国内出游总花费8034.83亿元，人均花费1348.13元，与去年假期基本持平。春节假期日均出游 6622.22万人次，较去年假期增长5.74%； ...

Group 1 - The core viewpoint of the report indicates that the consumer promotion policy is expected to remain stable until 2026, but the recovery of the fundamental economy will take time due to adjustments in household balance sheets [1] - The social service sector is projected to focus on structural opportunities in the first half of the year, with a total of 42 listed companies having released performance forecasts for 2025, resulting in a disclosure rate of 49% and an overall expected profit rate of 45%, ranking sixth among eight major consumption sectors [2][3] - The consumption structure in China is shifting from a focus on goods to a balanced emphasis on both goods and services, with experience-based service consumption anticipated to become a primary growth engine [1] Group 2 - The social service industry consists of 85 A-share companies, with 42 having released performance forecasts, placing the disclosure rate at 49%, ranking fourth among consumption sectors [2] - Among the companies that have released forecasts, only 14% are expected to see year-on-year growth in net profit attributable to shareholders, a decrease of 4% compared to 2024; the proportion of companies turning losses into profits and those continuing to incur losses has increased to 10% and 48%, respectively [2] - The tourism and scenic area sector is showing signs of recovery, with 8 out of 13 companies that have disclosed forecasts expected to be profitable; the hotel and restaurant sector is also performing well, with two companies expecting profit increases and a decrease in loss ratios [3]

马来西亚《星报》23日报道称，在创纪录的9天春节假期期间，中国各领域消费活动强劲，这为世界第二大经济体巩固复苏势头传递了积极信号，也彰显了 消费者信心。 马来西亚《星报》报道截图 报道援引新加坡国立大学李光耀公共政策学院副教授顾清扬的话表示，中国政府已将消费列为关键的经济驱动力，春节假期消费则成为重要晴雨表。"增长 表明促消费政策已取得切实成效。" 马来西亚《星报》报道截图 报道援引经济学家和企业界人士的话指出，这一持续至周一（23日）的假期，为旅游、餐饮、娱乐和零售等行业的强劲消费活动提供了更长时间窗口，为消 费领域带来了年初提振。 报道还表示，中国发起了一场全国性的促进假日消费活动，包括消费品以旧换新、发票抽奖赢取现金奖励以及发放本地消费券等。 马来西亚《星报》报道截图 报道指出，中国文化和旅游部于1月下旬启动了一项全国性活动，将举办约3万场文化和旅游活动，并发放超过3.6亿元的消费券和补贴，为公众提供更多节 日庆祝选择，相关活动将持续至3月初。报道援引中国旅游研究院院长戴斌的观点称，民俗、科技与文化旅游以及青少年研学旅行正推动游客走得更远。 马来西亚《星报》报道截图 报道援引中国商务部的数据指出，中国的 ...

Core Viewpoint - The implementation of the prize invoice pilot program is effectively stimulating consumer spending and enhancing market vitality, signaling strong macroeconomic policy support for consumption [1][2]. Group 1: Policy Implementation and Impact - The prize invoice pilot program is being conducted in 50 cities, with a total of 10 billion yuan allocated for prizes during the Spring Festival holiday, which has already exceeded 1 billion yuan in prize distribution [1][2]. - The program targets essential consumer sectors such as retail, dining, accommodation, and entertainment, encouraging residents to participate in the lottery by obtaining invoices for purchases over 100 yuan [2][4]. - The initiative not only boosts consumer spending but also promotes tax compliance among businesses, fostering a culture of lawful tax practices [2][3]. Group 2: Financial and Operational Considerations - The government emphasizes the need for effective use of the 100 billion yuan investment in the prize invoice program, ensuring transparency and preventing fraud [3]. - Performance evaluations will be conducted post-implementation to assess the program's impact on consumer participation, invoice issuance, and overall retail sales growth [3][4]. - The program is part of a broader set of fiscal and financial policies aimed at stimulating domestic demand and enhancing consumer confidence [4].