商务部新闻发言人何咏前。 在主题活动方面，何咏前介绍，广州为国际美食节配套专属消费券，为期五天的主会场活动吸引18.5万 人次参与，实现营业额与客流量双增长。截至目前，各城市已围绕精品首发、购物、美食、旅游等重点 主题，组织活动4600余场，因地制宜、各有特色地配套专项措施，为活动赋能。 在场景体验方面，何咏前介绍，各地联动购物、美食、旅游、展演多领域优质资源，创新融合"吃住行 游购娱"全链条消费场景。北京推出"秋日散步美学"主题线路，串联周边美景、美食、美店等"赏秋+"业 态，让慢下来的北京秋日美景，转化为持续释放的消费活力。广州开展全运主题消费活动，解锁商旅文 体健多重消费潜能。 何咏前表示，下一步，商务部将会同有关部门，指导各地持续办好"购在中国"系列活动，以更丰富的供 给、更优质的服务、更多元的场景，将"购在中国"打造成为感知现代中国脉动的新窗口。 南都讯 记者杨文君 发自北京 11月27日下午，商务部举行例行新闻发布会，介绍了2025精品消费月活动 进展情况。 商务部新闻发言人何咏前介绍，11月初，商务部启动了2025精品消费月活动。2025精品消费月活动开展 以来，在上海、北京、广州、天津、重庆5 ...

社会服务 | 证券研究报告 — 行业点评 2025 年 11 月 27 日 强于大市 关于六部委"进一步促进消 费实施方案"的点评 " 3 个万亿级 +10 个千亿级"，促消费获信心 2025 年 11 月 25 日，工业和信息化部等六部委印发《关于增强消费品供需适 配性进一步促进消费的实施方案》（以下简称《方案》）。《方案》明确到 2027 年，消费品供给结构明显优化，形成 3 个万亿级消费领域和 10 个千亿 级消费热点；到 2030 年，供给与消费良性互动、相互促进的高质量发展格局 基本形成，消费对经济增长的贡献率稳步提升。鉴于《方案》对新技术、新 模式创新应用，扩大特色和新型产品供给，精准匹配不同人群需求，培育消 费新场景新业态，营造良好发展环境等方面的前瞻性部署，我们维持行业 强 于大市 评级。 支撑评级的要点 投资建议 在学习《方案》后，我们认为"文商体旅健"与日常生活息息相关，提 振消费的措施与方向离不开不同群体的差异化需求得到高精准匹配度供 给的回应。在社服角度，我们建议关注科锐国际、北京人力等就业相关 标的；关注同程旅行、岭南控股、众信旅游、长白山、黄山旅游、中青 旅等文旅消费标的；建议关注 ...

期 货 眼 ·日 迹 每日早盘观察 0 / 44 研究所 期货眼·日迹 | 股指期货：科技龙头试图上攻，股指分化 3 | | --- | | 国债期货：短线或可博弈反弹 4 | 银河期货研究所 2025 年 11 月 27 日 | 蛋白粕：国际库存压力有限 | 价格整体支撑 5 | | --- | --- | | 白糖：国际糖价继续上涨 | 国内糖价区间震荡 5 | | 油脂板块：震荡行情延续 7 | | | 玉米/玉米淀粉：现货偏强，盘面高位震荡 7 | | | 生猪：出栏压力增加 | 现货整体回落 8 | | 花生：花生现货上涨，花生盘面大幅上涨 9 | | | 鸡蛋：需求表现一般 | 蛋价稳定为主 10 | | 苹果：需求表现一般 | 果价稳定为主 11 | | 棉花-棉纱：基本面矛盾不大 | 棉价震荡为主 12 | | 钢材：钢价区间震荡，铁水仍有压减空间 13 | | --- | | 双焦：市场情绪仍偏弱 13 | | 铁矿：偏空思路对待 14 | | 铁合金：减产趋势下价格底部震荡 15 | | 金银：12 月降息再成基准情景 金银维持偏强走势 16 | | --- | | 铜：美降息预期提高，铜 ...

投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 资讯早班车-2025-11-27 一、 宏观数据速览 | 发布日期 | 指标日期 | 指标名称 | 单位 | 当期值 | 上期值 | 去年同期值 | | --- | --- | --- | --- | --- | --- | --- | | 20251020 | 2025/09 | GDP:不变价:当季同比 | % | 4.80 | 5.20 | 4.60 | | 20251031 | 2025/10 | 制造业 PMI | % | 49.00 | 49.80 | 50.10 | | 20251031 | 2025/10 | 非制造业 PMI:商务活 动 | % | 50.10 | 50.00 | 50.20 | | 20251113 | 2025/10 | 社会融资规模增量:当 | 亿元 | 8161.00 | 35299.00 | 14120.00 | | | | 月值 | | | | | | 20251113 | 2025/10 | M0(流通中的现金):同 比 | % | 10.60 | 11.50 | 12.80 | | 202511 ...

Group 1 - Guizhou Province's total retail sales of consumer goods increased by 3.8% in the first three quarters, with retail sales of limited enterprises growing by 5.1% [1] - The added value of wholesale and retail industries, as well as accommodation and catering industries, grew by 5.7% and 5.3% respectively [1] - The province has implemented a trade-in program to boost consumer spending, resulting in 28.86 million vehicle trade-ins and 377.5 million home appliance and digital product exchanges, generating a total consumption of 49.762 billion yuan [1] Group 2 - Guizhou's online retail sales reached 104.93 billion yuan, marking a growth of 12.6% [2] - The province has established 8 provincial-level e-commerce demonstration parks, 51 e-commerce live streaming demonstration bases, and 348 e-commerce demonstration enterprises [2] - The province's automotive trade-in application volume and fund exchange rate ranked 7th and 2nd nationally, respectively, with significant growth in automotive and communication equipment sales [1]

Core Viewpoint - The Chaozhou government is launching a series of consumer promotion activities from November 2025 to March 2026, themed "Enjoy Chaozhou, Warm Winter," aimed at boosting economic growth and enhancing consumer satisfaction [1][3]. Group 1: Event Overview - The event will feature four main themes: sports activities, intangible cultural heritage tourism, traditional New Year celebrations, and immersive experiences in the ancient city [4]. - Five key brands will be highlighted, including fitness tourism, culinary experiences, film and television tourism, night markets, and traditional crafts [4][5]. Group 2: Economic Impact - The city has already organized nearly 20 promotional events this year, generating over 1.31 billion yuan in consumer spending through initiatives like vehicle trade-ins and appliance upgrades [3]. - The government aims to attract more tourists and enhance the local economy by improving tourism infrastructure and services [3][6]. Group 3: Consumer Benefits - Six major discount initiatives will be introduced, including free access to state-owned scenic spots for registered participants of the National Games and various dining and shopping vouchers [6][7]. - Specific subsidies will be provided for purchasing electronic products and new energy vehicles, with additional incentives for travel agencies based on visitor numbers [6][7].

Core Points - The "Yuegou Foshan Leyou Warm Winter" consumption season will take place from November 2025 to March 2026, aiming to boost market activity and consumer engagement through over 600 events across four themes and five brands [3][4][5][6][7] Group 1: Four Major Themes - The first theme, "Travel with the National Games," includes activities like "Travel with Events," "National Games + Boutique Events," and "Check-in with Champions" to promote public engagement through sports [4] - The second theme, "Welcome the Summit Forum," features inbound tourism and night economy initiatives, promoting Foshan as a weekend getaway destination [5] - The third theme, "Winter Vacation Study Tours in Foshan," offers cultural and educational travel experiences, highlighting local culinary and heritage tours [6] - The fourth theme, "Celebrate the New Year in Foshan," includes various traditional activities and events to create a festive atmosphere for the Spring Festival [7] Group 2: Five Major Consumer Brands - "Travel in Foshan" will promote key cultural tourism resources and create over 90 themed tourism routes [11] - "Food in Foshan" aims to enhance the city's reputation as a "World Food Capital" with a comprehensive food map and unique culinary experiences [12] - "Enjoy Foshan" will combine online and offline promotions for cultural events, including over 360 artistic activities [13] - "Fitness in Foshan" will organize sports events and fitness activities, promoting a healthy lifestyle [14] Group 3: Six Major Discount Policies - The "Quality Products Happy Purchase" initiative offers subsidies for various consumer goods, including home appliances and electric vehicles [15][21][22] - The "Dining Discounts" program provides meal vouchers and special offers for event participants [16] - The "Attraction Discounts" will introduce a tourism card for free or discounted entry to attractions for event attendees [17] - The "Hotel Discounts" will offer package deals for accommodations during events [18] - The "Convenient Travel" initiative will enhance public transport services for event participants [19] - A "Receipt Lottery" will incentivize consumer spending through a lottery system [20]

Core Viewpoint - Zhanjiang City is launching a "Winter Tour Zhanjiang Enjoy Exciting" consumption season from November to the first quarter of next year, aiming to stimulate consumer spending and enhance the shopping experience for both locals and tourists [1][3]. Group 1: Consumption Policies and Measures - Zhanjiang has implemented measures to optimize the consumption environment, resulting in a retail sales total of 118.475 billion yuan, a year-on-year increase of 3.3%, which is 0.5 percentage points higher than the provincial average [3]. - The new consumption subsidy program includes a wide range of products such as automobiles, home appliances, local specialty products, electronic products, and sports goods, with a focus on accessibility and low thresholds for consumers [6][9]. - The new subsidy program is distinct from the 2025 old-for-new consumption subsidy, with different time frames and funding sources, and the two cannot be combined [6][9]. Group 2: Event Highlights and Themes - The consumption season will feature four main themes: "Warm Winter Fun Tour Zhanjiang," "Trendy Youth Vitality Zhanjiang," "Delicious Food Zhanjiang," and "Affordable Shopping Zhanjiang," leveraging the upcoming opening of the Guangzhan High-speed Railway and the 15th National Games [12]. - Three major events will take place during the consumption season: a sports-themed event in November-December, a winter study tour in January-February, and a unique coastal Spring Festival experience in February-March [12]. Group 3: Financial Support and Consumer Experience - Financial institutions are encouraged to provide credit support for service consumption sectors, with preferential interest rates for eligible consumers [14]. - Market regulation departments will enhance consumer protection measures, ensuring quality and integrity in business practices while facilitating consumer complaints [16]. - Various promotional activities, including dining vouchers and themed shopping events, will be launched to stimulate consumer interest and spending [17][18].

Core Points - Dongguan officially launched the "Shopping Dongguan, Trend Up!" cross-year consumption season activity on November 5, 2025, which will last until March 2026, aiming to boost economic activity in the Greater Bay Area [1][3] - The event will cover six major sectors: retail, catering, cultural tourism, agriculture, culture, and sports, with over a thousand enterprises and platforms expected to participate [1][3] - The initiative is designed to stimulate market vitality and enhance the foundational role of consumption in economic development through a comprehensive activity design [3][4] Retail Sector - "Shopping Dongguan" focuses on retail consumption, offering subsidies for trade-in programs for automobiles, electric bicycles, and home appliances, and promoting local products through online sales [4][13] - Retail consumption vouchers will be distributed during key periods such as New Year and Spring Festival, covering essential categories like 3C products, home goods, and food [4][13] Catering Sector - "Tasting Dongguan" aims to boost accommodation and dining consumption by collaborating with platforms like Meituan and Douyin to promote autumn and winter food consumption [4][5] - Special events such as the "Food in Dongguan" carnival and various food festivals will provide exclusive discounts for ticket holders [4][5] Cultural Tourism Sector - "Traveling Dongguan" will launch over 10 cultural tourism promotional activities centered around major events like the 15th National Games and APEC Summit [4][5] - The initiative includes creating special travel routes and offering discounts for attractions linked to events [4][5] Agricultural Sector - "Farming Dongguan" will host the "Chinese Farmers' Harvest Festival" in November, showcasing agricultural achievements and promoting local products [5][14] - Additional events will include a Spring Festival flower market and various agricultural consumption activities [5][14] Cultural Sector - "Appreciating Dongguan" will enhance cultural consumption through events like the "Lingnan Water Town International Animation Week" and a New Year light festival [5][14] - The initiative will also promote local cultural products and extend the service hours of public cultural venues [5][14] Sports Sector - "Competing Dongguan" will leverage the atmosphere of the National Games to host high-level sports events and promote local sports brands [5][14] - The initiative aims to create diverse sports consumption scenarios by integrating sports with tourism and commerce [5][14] Support Mechanisms - A four-dimensional linkage mechanism has been established to ensure the effectiveness of the activities, involving collaboration between government, enterprises, financial institutions, and online platforms [6][13] - The initiative encourages local towns to develop unique promotional activities and integrates financial incentives to enhance consumer engagement [6][13] Consumer Incentives - Specific consumer subsidies include up to 5,000 yuan for new car purchases, 1,000 yuan for home appliances, and 500 yuan for electronics and sports goods [13][14] - The consumption season aims to provide tangible benefits to citizens while promoting economic growth and enhancing Dongguan's city image [14]

Core Viewpoint - Haikou's Xiuying District government has launched a special event titled "Hi Buy Xiuying Enjoy Duty-Free" to stimulate year-end consumer spending by distributing 500,000 yuan in duty-free consumption vouchers [1] Group 1: Event Details - The "Hi Buy Xiuying Enjoy Duty-Free" event is a collaboration between the Xiuying District government and China Duty Free Group, aiming to create a vibrant shopping experience for residents and tourists during the year-end shopping season [1] - The consumption vouchers will be exclusively distributed on Douyin's official platform and will feature multiple discount tiers [1] Group 2: Additional Incentives - During the event, offline consumers can enjoy additional payment incentives from banks such as Beijing Bank, China Merchants Bank, and Shanghai Bank, which include multiple points, cash back, and extra discounts [1] - The initiative aims to meet diverse consumer expectations for duty-free shopping through layered discounts and promotions [1]