中新社北京6月3日电 中国物流与采购联合会3日发布数据显示，今年1月至4月份，中国物流需求延续恢 复态势，需求总量持续扩张。全国社会物流总额达115.3万亿元人民币，同比增长5.6%。 受复杂严峻国际环境影响，外部冲击加剧，4月份，全国社会物流总额同比增长5.5%，较上月回落1.4个 百分点。 从结构来看，生产和消费需求有效支撑国内物流需求韧性。工业品、单位与居民物品物流需求保持稳定 增长，1月至4月份，工业品物流总额同比增长5.7%；单位与居民物品物流总额同比增长5.9%。 多项政策协同发力稳外贸稳物流。通过扩大开放领域、深化与"一带一路"共建国家贸易合作，推动外贸 多元化发展。分析认为，从后期走势看，随着"扩内需、促消费"等多项稳增长政策的持续发力，制造业 向高端化、智能化转型或将加速，物流服务也需同步提升供应能力与效率。(完) （文章来源：中国新闻网） 4月份，工业品物流总额增速平稳，多数行业和产品物流需求保持增长，41个大类行业增长面达 87.8%。占工业近四成的装备制造物流同比增速达9.8%。新动能支撑作用凸显，4月份高技术制造相关 物流需求同比增长10%，持续高于工业品物流总额增速。 消费物流需求 ...

证券研究报告 受降雨天气影响，端午出行略显平淡 华泰研究 2025 年 6 月 02 日│中国内地 动态点评 端午假期出行较为平淡，短途增速稍好于中长途 交通部预计，2025 年端午假期（5/31-6/2）累计全社会跨区域人员流动量达 到 6.57 亿人次，同比（24 年端午假期，下同）提升 3.0%，低于交通运输 部 5 月 29 日的初步预测 7.7%，也低于五一假期（yoy+7.9%）和春节假期 （yoy+5.8%）。我们认为出行较为平淡，主要由于南方地区雨水频繁，且今 年端午假期在高考前仅约一个星期，进一步抑制旅游出行。分出行方式来看， 公路客运量同比增长 3.1%，高于铁路和民航 2.3%/1.2%的增幅，三天假期 短途旅游需求稍好。结合子行业景气趋势，考虑暑运旺季，推荐航空板块， 首推中国国航 A/H，同时推荐皖通高速 A/H、浙江沪杭甬、粤高速 A。 航空：端午假期时长较短，同比增速低于总体 据交通部预计，端午假期民航客运量日均 186.7 万人次，同比增长 1.22%， 同比增速低于铁路/公路的 2.3%/3.1%，主要由于端午假期仅三天，对于中 长 途 的 航 空 出 行 催 化 作 用 较 ...

端午假期首日，武昌万象城地下停车场内近乎一位难求，不少市民、游客直奔此处，冲着一个展览而来——"香港迪士尼乐园度假区20 周年庆典展览"，这是该主题展在内地城市的首秀。 据了解，这并非香港迪士尼乐园与武汉的首次碰撞。去年，武昌万象城与香港迪士尼乐园联合打造"达菲夏日萌游"和"探索魔雪奇缘世 界之旅"主题展览，引发全城打卡热潮。 "能在家门口看到贝儿，简直不要太满足。"当天，早早来到武昌万象城的武汉人王女士特地背着玲娜贝儿毛绒背包，期待更近距离接 触到自己最喜爱的迪士尼卡通形象。 武昌万象城1号门外广场上，超7米的巨型米奇装置作出欢迎手势——走进商场，11米高的香港迪士尼乐园奇妙梦想城堡让人仿佛置身 迪士尼乐园内。 这个假期，武汉各大商圈、景区、平台、商家推出百余项促消费主题活动，为市民游客提供更多元的消费场景。香港迪士尼乐园带来 的主题展，无疑是最具看点的活动之一。 "快看，是玲娜贝儿！"5月31日下午2时，当米奇、米妮、星黛露、玲娜贝儿4位迪士尼人气明星现身武昌万象城，提前等候许久的人群 里发出阵阵欢呼，大家纷纷拿起手机记录下这一时刻。 5月31日，在武汉举行的香港迪士尼乐园20周年庆典展览活动现场。 据介 ...

夏季旅游促消费 6月至9月海南将举办上百项旅文体活动 旅游节庆方面，包括2025年(第二十六届)海南国际旅游岛欢乐节、海南省旅游发展大会、第35届亚 洲小姐竞选全球总决赛暨2025亚洲新媒体生态大会等;文化演艺方面，如陈奕迅演唱会、第十一届伯牙 钢琴艺术节暨全国总决赛等将轮番上演;体育赛事方面，尾波冲浪世界杯、全国沙滩摔跤对抗赛、中国 摩托艇公开赛等将吸引国内国际目光。此外，《开始跳舞吧》全球总决赛、三亚国际非遗文化生活节等 活动也将为游客和市民带来新体验。 省旅游和文化广电体育厅相关负责人表示，此次夏季旅游促消费系列活动的推出，不仅为游客提供 了更加多元化、个性化的选择，还将通过实实在在的优惠降低游客旅行成本，将进一步激发旅游市场活 力。 端午假期，游客可以在三亚、海口、儋州、琼海等12个市县观赏龙舟赛事，可以深入热带雨林参与 健步走，也可以在景区进行登山夜跑——5月31日三亚市龙舟公开赛将在三亚河新风桥至情人桥段水域 开赛;6月1日，"2025中国(海南)热带雨林健步走公开赛"在五指山市水满乡鸣枪开赛;6月1日，三亚"六月· 你好!鹿回头荧光登山夜跑"活动举行……缤纷多样的玩法，将让游客尽情体验海南夏游的 ...

Core Viewpoint - Yibin City is actively promoting consumption and enhancing people's livelihoods through various measures to stimulate market vitality and ensure steady development of the consumption market [1][3]. Group 1: Consumption Promotion Measures - Yibin has implemented multiple initiatives to boost consumption, including the selection of six projects for the "Shu Li An Yi" new consumption scene and the distribution of over 100 million yuan in consumer vouchers through online and offline channels [3][5]. - The city has achieved a 20.03% year-on-year increase in online retail sales, ranking first in the province [3]. - Over 600 promotional consumption activities have been successfully held, including the 33rd China Chef Festival and the Summer Beer Festival [3]. Group 2: Policy Measures - Yibin has introduced a policy to promote economic recovery in the commercial sector, with a focus on new consumption scenes, catering, and e-commerce, among others [5]. - The policy is characterized by its broad coverage, significant financial support of approximately 140 million yuan, and emphasis on new business formats such as service consumption and digital consumption [5]. - The policy aims to enhance people's livelihoods, boost consumer confidence, and stimulate market vitality, positioning Yibin as a regional consumption center [5]. Group 3: Future Initiatives - Yibin plans to conduct skill training for 10,000 individuals across various sectors, including catering and e-commerce, and to enhance large-scale consumption through initiatives like trade-in programs for consumer goods [7]. - The city aims to revitalize urban commerce by optimizing commercial space layouts and developing new consumption scenes, while also enhancing county-level commercial vitality [7]. - A total of 66 projects are planned in the commercial circulation sector, with over 400 promotional activities scheduled throughout the year, including the issuance of 200 million yuan in various consumer vouchers [9].

如何答好金融促消费的发展课题？建行广东省分行聚焦打造"圈链群"服务新生态，以"金融科技+场景生 态"为核心策略，整合文旅、商超等消费场景，采用消费券发放、商户合作链接、消费信贷支持等方 式，从企业、个人、机构三端发力，进一步打通了"政府-银行-商户-消费者"的传导链路。 据建行广东省分行消息，截至4月末，该行个人消费贷款余额近500亿元，当年累计投放已超220亿元， 位居同业前列。依托"政府补贴+双子星平台+圈链群场景+消费金融服务"的全生态模式，该行正以消费 金融专项行动激发广东消费新活力。 作为中国经济发展最为活跃的地区之一，广东正以多样性、潮流性和消费升级为特点，在服务消费、出 口转内销、文旅会展、银发经济、新型消费市场等领域加速发力。 羊城晚报记者 戴曼曼 扩内需、促消费，今年以来提振消费政策力度持续"升温"，消费经济已成为高质量发展的重要引擎。作 为经济第一大省，广东在金融促消费提振内需上已在积极行动。5月9日，广东发布《金融支持促消费扩 内需专项行动方案》（以下简称《行动方案》）。《行动方案》具体部署了六个专项行动，其中提到， 围绕消费品以旧换新、住房、汽车、文旅体育、生活服务、外贸产品转内销、跨 ...

广东日前启动"2025年惠民托育券"发放工作，自6月1日起，家长可在全省范围内申领并使用。托育券分 为托育体验券与托育消费券两大类，托育消费券分为500元、1000元、1500元和2000元四个档次，可直 接抵扣托育费用。 河南、上海、福建等地的相关举措也着眼于育儿补贴和产假社保补贴等。福建的措施提到，鼓励有条件 的地方发放结婚消费券、托育券。福建还将出台生育补贴制度实施方案，为符合条件的生育家庭发放生 育补贴。 ◎记者 陈芳 入夏以来，龙虾节、啤酒节、露营节、美食节等活动出圈走红，消费场景业态不断更新，消费活力持续 迸发。近期，河南、福建、广东等地接连发布提振消费专项行动实施方案，出台了稳定就业、促进增 收、发放消费券、鼓励带薪休假等举措，更大力度惠民生、促消费、做强国内大循环。 促进服务消费扩容 近期，托育券、结婚消费券等新型消费券受到关注，地方将"真金白银"的消费补贴投向增长潜力较大的 服务领域。 "有效投资可以引领和带动新的服务消费。当投资带来更优质的服务产品和更好的消费环境时，可以有 效激发消费潜能，引领消费新需求。"黑龙江社会科学院研究员房宏琳分析。 提振消费需要各方面政策协同发力，地方还在财税、 ...

Group 1 - The core viewpoint of the article emphasizes the importance of boosting domestic demand through consumption and investment, with financial services playing a crucial role in this process [1] - The 2025 government work report identifies "expanding domestic demand" as a top priority, highlighting the need for financial mechanisms to support consumption upgrades [1] - A roundtable discussion at the "2025 Deep Blue Media Think Tank Annual Forum" focused on how finance can stimulate domestic demand and consumption [1] Group 2 - Xue Hongyan from Star Map Financial Research Institute suggests that financial institutions should enhance marketing precision and utilize big data for better customer matching to meet consumer needs [3] - He also points out that banks should explore middle and high-risk customer segments as potential growth areas for consumer loans, especially as the economic recovery progresses [3] - The People's Bank of China announced a 500 billion yuan tool to support service consumption and elderly care, indicating a proactive approach to enhancing consumer finance [4] Group 3 - Chen Jinghao from Xinhua Insurance highlights the importance of "ecosystem" in the insurance industry, focusing on customer needs throughout their life cycle to enhance insurance uptake [6] - He emphasizes that insurance products should align with consumers' life stages and financial responsibilities, suggesting tailored coverage for different age groups [6][7] - Chen also notes that government policies, such as urban inclusive insurance and personal pension products, can alleviate financial pressure on consumers and boost spending capacity [7] Group 4 - Qi Wei from Guangfa Bank indicates that the focus of consumer loans is shifting towards service upgrades and innovative scenarios, with banks enhancing user experience through features like "borrow and repay" [9] - He envisions a future where banks can implement dynamic credit assessments based on borrowers' financial changes, improving the flexibility of loan terms [10] - Qi also discusses the potential for integrating green consumption with consumer loans, supporting sustainable development goals [10] Group 5 - Shi Jianxing from CICC Yinyi highlights the advantages of consumer REITs, including mandatory dividend distributions and low investment thresholds, making them accessible to ordinary investors [12] - He notes that consumer REITs are directly linked to residential consumption demand, presenting a stable investment opportunity amid policies aimed at boosting domestic consumption [12][13] - Shi advises investors to focus on the quality of underlying assets and management capabilities rather than short-term speculation, emphasizing the importance of thorough research [13]

Core Viewpoint - The report "Financial Reshaping Consumption Power" emphasizes the necessity of boosting consumption in the context of economic transformation, highlighting the role of the financial industry in transitioning from mere "funding supply" to "ecosystem construction" [1][4]. Group 1: Consumption Boosting as an Economic Imperative - The need to boost consumption has shifted from an optional strategy to a mandatory requirement due to significant changes in the global economic landscape and domestic economic transformation [3]. - In 2024, the contribution rate of final consumption expenditure to economic growth in China is projected to be 44.5%, a notable decline from 2023 [3]. Group 2: Financial Role in Consumption Enhancement - The core logic for boosting consumption is encapsulated in the concepts of "ability to consume," "willingness to consume," and "daring to consume," which are interrelated and essential for a comprehensive approach to consumption enhancement [4]. - Financial mechanisms can effectively alleviate budget constraints through consumer credit, thereby facilitating the realization of consumption desires and stimulating economic circulation [4][5]. - The report warns against excessive financialization, which could lead to risks such as capital idling and squeezing real consumption demand [4]. Group 3: Financial Product and Service Diversification - Financial institutions are encouraged to provide a diverse range of products and services to lower consumption barriers and meet the varied needs of consumers, thereby unleashing consumption potential and driving overall economic expansion [6][7]. - The report identifies credit policies as a primary tool for boosting consumption, noting a significant drop in loan interest rates from the "3" range to the "2" range due to competitive pressures [7][8]. Group 4: Institutional Transformation and Collaboration - Financial institutions are transitioning from a focus on "traffic competition" to "ecosystem co-construction," with banks and consumer finance companies diversifying their offerings to enhance user engagement [11][12]. - The rise of consumption-related REITs has become a new highlight in the capital market, with an average increase of over 30% in the first quarter of 2025 [12]. Group 5: Innovation and Risk Management in Financial Services - Financial technology is seen as a key to breaking through existing challenges, with significant improvements in digital risk control models leading to lower non-performing loan rates [13]. - The report emphasizes the importance of balancing policy incentives with risk prevention to maintain a healthy cycle between consumption finance and the real economy [13][14].

Core Viewpoint - The forum highlighted the unique advantages and future development prospects of consumption REITs, emphasizing their role in expanding domestic demand and promoting consumption in the context of economic recovery [1][3]. Group 1: Advantages of REITs - REITs provide a mandatory annual distribution of at least 90% of the distributable amount to investors, ensuring long-term and stable cash flow [3]. - Listed REITs offer liquidity and can be traded in the secondary market like stocks, making them accessible for investors [3]. - The investment threshold for REITs is low, typically starting from a few hundred yuan, allowing ordinary individuals to participate [3]. Group 2: Consumption REITs Potential - Consumption REITs are seen as investment tools with stable returns and asset appreciation potential, particularly relevant in the context of domestic consumption and policy support [3]. - These REITs primarily invest in shopping centers, department stores, outlet malls, farmers' markets, and community commercial infrastructures, directly linked to consumer demand [3]. - The potential market size for consumption REITs is significant, with expectations that they will become the largest and most market-oriented segment among property REITs in the future [3]. Group 3: Investment Considerations - Consumption REITs offer ordinary investors the opportunity to engage in core commercial real estate with small amounts of capital, emphasizing the importance of underlying asset quality and management capabilities over short-term trading [4]. - Investors are encouraged to adopt a rational investment approach, thoroughly understanding product risks and characteristics through disclosure documents like fund contracts and prospectuses [4].