Core Viewpoint - Guizhou Moutai's stock price has rebounded after briefly falling below 1400 CNY per share, closing at 1426 CNY on December 15, with a market capitalization of 1.79 trillion CNY, ranking sixth in the A-share market [2] Group 1: Stock Performance - Guizhou Moutai's stock price has increased for four consecutive trading days, reflecting a recovery in market sentiment [2] - The stock price difference between Guizhou Moutai and Cambricon has narrowed to nearly 100 CNY [2] Group 2: Pricing and Market Dynamics - Recent reports indicate that Guizhou Moutai has implemented a volume control policy, which has led to a rebound in the prices of Moutai liquor on third-party platforms [2][4] - On December 14, the wholesale price of the 2025 53-degree 500ml Moutai rose to 1590 CNY per bottle, an increase of 70 CNY from the previous day [2] - However, on December 15, the prices slightly decreased, with the wholesale price for the same product falling to 1560 CNY [2][3] Group 3: Strategic Adjustments - Guizhou Moutai's distributors recently held a meeting to discuss channel strategies for 2026, focusing on core products while potentially reducing the output of non-standard Moutai products [4] - The company plans to stop the distribution of unfulfilled quotas for 2025 to stabilize the market [4] Group 4: Industry Challenges and Opportunities - The company faces challenges such as slowing growth, insufficient short-term demand, and long-term demographic changes [5] - Guizhou Moutai is exploring innovative consumption scenarios and retail formats to expand its consumer reach and transition from merely selling liquor to promoting a lifestyle [5] - The food and beverage index, including Moutai, has seen a pullback in December, attributed to a slight slowdown in monthly sales data [6]

当前，我国消费品品种总量达2.3亿种，家电、家具、文体用品、服装家纺等100多个品类产量全球第 一，消费品供给已进入优质优价新发展阶段。国务院近期印发的《关于增强消费品供需适配性进一步促 进消费的实施方案》提出，到2027年形成3个万亿级消费领域和10个千亿级消费热点，系统培育中国消 费名品方阵，遴选并推广千个以上知名企业品牌和区域品牌、万件以上优质消费品。 作为京东集团服务政企客户的核心平台，京东政企业务深耕政企采购行业超过10年，持续以多元化优商 优品供给、数智化平台技术支撑、全场景服务覆盖能力、全国性物流履约网络、全链路合规治理体系等 构建"超级供应链"，构筑起"商+品+客"三位一体的数智化采购供应链生态，打通"需求洞察－研发生产 －市场销售"闭环链路，帮助众多品牌伙伴实现业绩快速稳健增长的同时，为扩大内需、提振消费持续 贡献力量。 得力是中国办公用品行业领导品牌，同时也是京东政企业务最早合作的办公品牌之一。依托京东的大数 据支持，得力不断拓展和丰富产品线，目前已拥有超过1.2万种产品；针对政企客户的特殊需求，得力 推出了168款企业专属文具和超过200款设备、耗材产品，有效满足了政企客户的个性化需求。 ...

Core Viewpoint - The article discusses the recent implementation of a plan by the Ministry of Industry and Information Technology and five other departments to enhance the adaptability of supply and demand in consumer goods, aiming to stimulate consumption and economic growth. Group 1: Consumption Trends - The article highlights the emergence of new cultural and tourism products, such as ice and snow sports experiences, which are contributing to a "hot economy" from previously underutilized "cold resources" [2] - The release of the Beijing Winter Olympics mascot "Bing Dwen Dwen" has seen a significant consumer demand, indicating a robust market for cultural products [2] - The film "Zootopia 2" has outperformed expectations in the Chinese market, showcasing the potential of the domestic box office [2] Group 2: Supply and Demand Adaptation - The article emphasizes the shift in consumer demand from mere availability to quality, as outlined in the "14th Five-Year Plan," which calls for an expansion of high-quality consumer goods and services [2] - It discusses the structural mismatch in supply and demand, particularly in the elderly care market, where the market size is expected to grow from 2.6 trillion yuan to 5.4 trillion yuan from 2014 to 2024, yet there are challenges in meeting consumer needs [3] Group 3: Innovation and New Consumption Models - The article stresses the importance of innovation in driving consumption, highlighting the need for new products, services, and experiences to meet evolving consumer preferences [4] - It notes the role of technology and digitalization in enhancing production capabilities and developing high-quality consumer goods [4] - The article mentions the increasing international presence of Chinese brands, such as the expansion of "Mixue Ice City" with over 5,000 overseas stores, reflecting a growing global consumer market [4] Group 4: Market Opportunities - The article identifies potential in traditional consumption sectors, such as the success of a clothing company in producing yoga apparel, and the food industry’s shift towards low glycemic index products [5] - It highlights the emergence of new consumption hotspots, particularly in urban areas, where international brands are being integrated into local markets [5] - The article points out the opportunities in new technology sectors, such as wearable devices and elder care robots, which are benefiting from the "AI+" trend [6] Group 5: Economic Growth and Consumer Potential - The article concludes that consumption is a crucial driver of economic growth and that enhancing supply-demand adaptability will unleash consumer potential, contributing to the overall stability and growth of the Chinese economy [6]

Core Viewpoint - The article discusses the recent implementation plan by the Ministry of Industry and Information Technology and five other departments to enhance the adaptability of supply and demand in consumer goods, aiming to stimulate consumption and economic growth. Group 1: Consumption Trends - The article highlights the emergence of new cultural and tourism products related to winter sports and heritage experiences, which are contributing to the "hot economy" from "cold resources" [2] - The release of the Beijing Winter Olympics mascot "Bing Dwen Dwen" has seen a significant consumer demand, indicating a robust market for cultural products [2] - The film "Zootopia 2" has outperformed expectations in the Chinese market, showcasing the potential of the large domestic market [2] Group 2: Supply and Demand Adaptation - The article emphasizes the shift in consumer demand from mere availability to quality, as outlined in the "14th Five-Year Plan," which calls for expanding the supply of quality consumer goods and services [2] - It points out the structural mismatch in supply and demand, particularly in the elderly products market, where the market size is expected to grow from 2.6 trillion yuan to 5.4 trillion yuan from 2014 to 2024 [3] - The need for businesses to align their production with consumer preferences is highlighted, suggesting that policies should focus on fostering high-end brands and innovative products [3] Group 3: Innovation and Quality - The article stresses the importance of innovation in driving consumption, with new products and services being essential for meeting consumer demands [4] - It mentions the role of technology and digitalization in enhancing production capabilities and developing high-quality consumer goods [4] - The expansion of international markets for Chinese brands, such as the significant growth of overseas stores for brands like Mixue Ice City, is noted as a way to elevate consumption levels [4] Group 4: Market Opportunities - The article identifies potential in traditional consumption sectors, suggesting that there are still opportunities for growth through innovative approaches [5] - New consumption hotspots are emerging, with cities like Shanghai integrating international brands and outdoor economies to boost local consumption [6] - The rise of health-focused brands and technology in sectors like wearable devices and elder care is highlighted as a response to changing consumer needs [6] Group 5: Economic Impact - The article concludes that consumption is a crucial engine for economic growth, and the current period of rapid consumption structure upgrade is vital for unleashing market potential [6] - It emphasizes that enhancing supply-demand adaptability will stimulate domestic demand and support sustainable economic development [6]

Core Insights - The article discusses the recent implementation of a plan by six departments, including the Ministry of Industry and Information Technology, aimed at enhancing the adaptability of supply and demand in consumer goods, with a focus on five key tasks to stimulate consumption [1] Group 1: Consumption Trends - The article highlights the emergence of new cultural and tourism products, such as ice and snow sports experiences, which are contributing to a "hot economy" from previously underutilized "cold resources" [2] - The success of the Beijing Winter Olympics mascot "Bing Dwen Dwen" and the strong box office performance of "Zootopia 2" in China indicate a robust consumer market that exceeds expectations [2] - The shift in consumer demand from mere availability to quality reflects a growing emphasis on high-quality products and services, as outlined in the "14th Five-Year Plan" [2][3] Group 2: Supply and Demand Adaptation - The article emphasizes the importance of addressing structural mismatches in supply and demand, particularly in the elderly care market, where the market size is projected to grow from 2.6 trillion yuan to 5.4 trillion yuan from 2014 to 2024 [3] - It suggests that businesses should focus on producing what consumers want, such as high-end brands in jewelry and cosmetics, to better meet diverse consumer needs [3] Group 3: Innovation and New Consumption - The article stresses the significance of innovation in driving consumption, highlighting the need for new products, services, and experiences to meet evolving consumer demands [4] - It notes that the integration of technology and digitalization is crucial for enhancing existing production capacities and developing high-quality products [4] - The expansion of international brands and the success of Chinese brands in global markets, such as the rapid growth of overseas stores for brands like Mixue Ice City, demonstrate the potential for increased consumption levels [4] Group 4: Market Opportunities - The article identifies opportunities in traditional consumption sectors, suggesting that there is still potential for growth through innovative approaches, such as the production of yoga apparel and low glycemic index food products [5] - It highlights the emergence of new consumption hotspots, particularly in urban areas, where brands are adapting to health trends and cultural heritage [6] - The article concludes that the acceleration of consumption structure upgrades is critical for stimulating domestic demand and supporting economic stability [6]

随着生活水平逐步提高、消费观念不断更新，农村居民的消费需求正从过去的生产型、生存型向发展 型、品质型升级。近年来，顺应这些需求变化，更多促消费政策加快向农村地区延伸，城货下乡、电商 进村，改变了过去农村居民获取优质产品只能跨区域、远距离到城市消费的状态。但相较城市，农村市 场优质消费品种类较少，业态单一，配套服务尚存短板，难以满足农村居民不断升级的就地消费需求。 农村是我国消费市场的重要组成部分。工信部等6部门近日联合印发《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》），提出"推动农村消费品提质升级"。这一部署将带动更 多优质产品和服务触达广袤乡村，是拉动内需、畅通城乡经济循环的重要抓手。 优质产品更多了，配套服务理应跟上。但在商贸流通基础设施仍不够完善的情况下，农村居民能够享受 到的配套服务比较受限，比如，末端配送无法全面落地，产品维保、价值评估、上门回收及换新等服务 无法高效开展，一定程度上制约着消费需求释放。要以《方案》出台为契机，加快改造提升农村地区商 贸流通基础设施，补齐冷链、仓储、配送等短板，完善县乡村三级快递物流体系。 破解这种供需矛盾，关键在于提升适配性、丰富选择性。 ...

Core Viewpoint - The article discusses the implementation of a plan by six departments, including the Ministry of Industry and Information Technology, aimed at enhancing the adaptability of supply and demand in consumer goods, promoting a two-way interaction between supply and demand, and facilitating economic circulation [1]. Group 1: Supply and Demand Interaction - The plan outlines 19 key tasks to expand new demand, tap into existing demand, segment markets, empower scenarios, and optimize the environment, emphasizing the need for a systemic reconstruction of production modes, value connotations, and market environments [1]. - The current structural contradictions on the supply side are identified as major obstacles to unleashing consumption potential, necessitating a transformation from traditional supply models to more responsive and flexible production systems [1]. Group 2: Innovation and Upgrading - The plan encourages the upgrading of existing products and precise segmentation of niche markets, focusing on green, healthy, and intelligent product iterations to align with the evolving consumer preferences from survival to development and enjoyment [2]. - It emphasizes the importance of catering to diverse age groups by enhancing the supply of products for infants, students, fashion items, and senior citizens, reflecting a comprehensive approach to consumer needs throughout the lifecycle [2]. Group 3: Consumer Experience and Environment - The article highlights the significance of innovative consumption scenarios and environments as essential for transforming demand into consumption, with examples of recent innovations that cater to diverse consumer needs and stimulate economic recovery [2]. - The plan stresses the need for financial support and improved quality assurance measures to enhance consumer confidence and safety, thereby fostering a conducive environment for consumption [2]. Group 4: Market Dynamics - The article concludes that aligning supply with consumer preferences and activating domestic demand will effectively stimulate the internal dynamics of China's large-scale market, transitioning consumption from quantity expansion to quality enhancement, thus contributing to high-quality economic development [3].

内需对经济总体回升向好发挥了"助推器"作用。数据显示，2013年—2024年，内需对经济增长平均贡献 率达到93.1%。尽管内需作用突出，但当前经济运行中，内需不足的局面尚未完全扭转。中国人民大学 国家发展与战略研究院副院长刘晓光分析，当前内需动能不足的问题仍然比较明显，其中核心矛盾在于 供给侧高端化与需求侧走弱之间的错配，尽管国内大循环已经确立，但内生增长机制还不牢固。 "宏观上，我们已经确立了内需主导的大方向和基本盘，但内生增长机制尚不牢固。"刘晓光认为，基于 此，"十五五"时期治理的关键，在于推动结构优化的同时有效地恢复信心，构建更具可持续的内需扩张 机制来化解这一矛盾。 本次会议提出要"持续扩大内需、优化供给"，值得关注的是，近期政策层面已呈现出"扩大内需"与"优 质供给"深度结合的鲜明导向。国家发展改革委主任郑栅洁在《坚持扩大内需这个战略基点》署名文章 中明确提出，要以内需的稳定发展对冲外需的不确定性，以新供给创造新需求。 中共中央政治局12月8日召开会议，分析研究2026年经济工作。在此次会议部署的八项"坚持"中，"坚持 内需主导，建设强大国内市场"位居首位，凸显其在经济发展全局中的重要地位。 此 ...

释放消费潜力需要激发市场活力，增强供给与需求的适配性离不开扩大优质供给。近日，工信部会同5 部门联合印发的《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》）提 出，举办特色活动，系统培育中国消费名品方阵，打造"购在中国"品牌。以特色活动为抓手，营造良好 的消费市场发展环境，为供需双方高水平动态平衡创造条件。 过去，市场习惯了"造什么就卖什么"。而随着生产者变多，产品利润被不断压低，消费也容易偏向重 视"价廉"而非"质优"。要打破这一局面，实现供需之间的双向奔赴，既要破除信息不畅，还要修复信任 断层，要把产品好在哪儿展示给消费者。 长期价值是衡量政策落地效果的重要标尺。特色活动不能只是一场短暂的"烟花秀"，而是要努力打造众 人拾柴火焰高的长红"篝火"。要让消费的澎湃动力激活产业发展的增长活力，以供需适配畅通产销循 环，通过财政帮一点、企业让一点、平台推一点，实现消费者得实惠、品牌得口碑、产业得升级的多 赢。只有这样，特色活动才能实实在在稳住消费信心，进而助推内需释放，带动产业高质量发展。 （文章来源：经济日报） 以消费名品为代表的优质消费品，是扩大消费的有力抓手。依托多年经营形成的良好口碑 ...

来源：茅台时空 据茅台官微报道，12月2日至5日，2025中国企业家博鳌论坛在海南博鳌举行。茅台集团党委书记、董事长陈华受邀出席2025中国企业家博鳌论坛主论坛， 并以"机遇与挑战：历史经典产业的应变逻辑"为题发表演讲。 陈华在演讲中，结合茅台实践，阐述了历史经典产业应对时代机遇与挑战的应变逻辑。并从产业逻辑、商业逻辑、内在逻辑与发展逻辑四个角度提出了具 体思考。 首先是要始终遵循"守正创新"的产业逻辑，推进产业的现代化。 对于以酿酒为代表的历史经典产业，承载着独特技艺与文化，在现代化进程中须坚持守 正创新。其中"守正"在于永葆传统魅力；"创新"在于增强现代活力。 其次要始终遵循"供需适配"的商业逻辑，推动产业的市场化。 面对超大规模市场潜力持续释放与更加坚定的文化自信，既要更好满足"新需求"，也要引 领创造"新供给"。 陈华的论述表明，无论是新兴科技产业还是历史经典产业，都需在变革中坚守核心价值、呼应市场需求、传递文化力量、担当社会责任，从而在时代变局 中行稳致远。 以下为报道全文： 12月2日至5日，以"链接全球，引领未来：'十五五'新机遇"为主题的2025中国企业家博鳌论坛在海南博鳌举行，政产学研各界代 ...