Economic Performance - Dapeng New District's GDP reached 10.894 billion, growing by 11.7%, ranking second in the city [1] - The total retail sales of social consumer goods amounted to 1.453 billion, with a growth of 20.1%, ranking first in the city [1] - The industrial added value of above-scale enterprises increased by 14.5%, ranking third in the city [1] Industry Breakdown - The primary industry, industrial all-caliber added value, grew by 15.8%, ranking second in the city [1] - The secondary industry, profit-oriented service industry, achieved an unexpected double-digit growth with an added value growth rate of 10.2%, ranking first in the city [1] - The wholesale and retail industry saw an added value growth of 28.4%, ranking second in the city, while the accommodation and catering industry grew by 6.4%, ranking third [1] Service Sector - Above-scale service industry enterprises in Dapeng New District experienced strong growth, with operating income increasing by 12.3% [2] - The profit-oriented service industry showed remarkable performance, with operating income and operating profit growing by 12.4% and 83.2% respectively [2] Tourism Sector - Dapeng New District positioned tourism as a key driver for releasing consumption potential, leading to a 5.1% increase in tourist reception to 4.23 million and a 6.3% increase in tourism revenue to 2.73 billion [2] - The overnight tourist count increased by 5.1%, and inbound tourists grew by 7.3%, contributing to a 9.9% increase in the revenue of accommodation and catering industries [2] - Revenue from 23 high-end homestays surged by 116.2% year-on-year [2] Innovation and Export - Above-scale industrial enterprises' output value grew by 23.2%, with operating income increasing by 17.5% and sales output rising by 17.4%, indicating continuous optimization of production and sales efficiency [1] - R&D expenses saw a significant increase of 42%, highlighting the strengthening of corporate innovation [1] - Exports demonstrated resilience with a delivery value growth of 6.8% despite a complex external environment [1]

Group 1 - Various regions are promoting cultural tourism integration through initiatives like issuing consumption vouchers and hosting shopping festivals to stimulate market activity and unleash consumer potential [1] - The "Like This Mogao" Dunhuang Art Exhibition in Beijing features a 3,000 square meter immersive cultural corridor, showcasing replicas of classic caves and authentic Tang Dynasty sculptures, providing a cultural visual feast for visitors [1] - The exhibition includes a perfect set of original Tang Dynasty sculptures and murals that reflect the historical scenes of the Silk Road over 1,000 years ago [1] Group 2 - Multiple cultural and creative products inspired by Dunhuang culture debuted in Beijing, receiving positive consumer feedback [2] - The Shandong province has collaborated with financial institutions to launch a series of cultural tourism consumption initiatives during holidays, enhancing visitor experiences [2] - Jinan city has introduced various tourism products and services, including 15 direct tourism routes targeting specific demographics like seniors and students [2] Group 3 - In Daqing, Heilongjiang province, a government-led used car purchase subsidy program has attracted many customers [3] - Heilongjiang province has implemented "trade-in" policies for various sectors, including automobiles and home appliances, to encourage consumer spending [3] - The province's Commerce Department has organized over 120 promotional activities for consumption, allowing consumers to enjoy tangible discounts [3]

Core Viewpoint - China is transitioning to a high-income stage, with significant potential for consumption growth as the economic environment and consumer characteristics evolve. It is essential to effectively implement the decisions of the central government to stimulate consumption and improve livelihoods, thereby creating a virtuous cycle of economic development and social welfare [1][2]. Group 1: Consumption Growth Potential - Resident consumption in China has substantial growth potential, driven by changes in social and economic conditions [2]. - International experiences indicate that as countries transition to high-income status, there is typically a deceleration in consumption growth, but new growth drivers emerge. For instance, in the five years before reaching high-income status, OECD countries saw an average decline of 1.7 percentage points in consumption growth [3]. - The increase in economic development and urbanization is expected to drive service consumption growth, with service consumption's income elasticity being high. As income levels rise, the focus of consumer spending shifts from goods to services [3][4]. Group 2: Urbanization and Service Consumption - Urbanization leads to population concentration and industrial integration, which stimulates demand for services such as education, healthcare, and entertainment. The service consumption share is positively correlated with urbanization rates [4]. - In 2024, China's urbanization rate is projected to be 67%, still 9 percentage points lower than the average of similar high-income countries, indicating significant room for growth in service consumption [4]. Group 3: Diverse Consumer Preferences - There is a clear trend of consumption differentiation among various income, age, and regional groups, with digital technology enabling diverse consumer needs [4][6]. - Over 50% of lower-income groups allocate most of their income to daily necessities, while nearly 30% of higher-income groups are shifting towards development and enjoyment-oriented consumption [6]. - Different generational preferences are evident, with younger consumers valuing social attributes and experiences, while older consumers focus on practicality and essential goods [7]. Group 4: Quality and Value in Consumption - A significant portion of consumers prioritize cost-effectiveness, with over half indicating that price-performance ratio is their main concern when shopping [8]. - The demand for high-quality, cost-effective products is expected to grow, similar to trends observed in Japan during the 1990s, where consumers favored value-for-money products [8]. Group 5: Service Demand and Family Structure Changes - The trend towards smaller family units is increasing the demand for outsourced family services, such as elder care and childcare. The average household size in China has decreased from 3.1 to 2.62 persons per household from 2010 to 2020 [9]. - The market for household services reached approximately 1.2 trillion yuan in 2023, with an annual growth rate of about 20% from 2015 to 2023, indicating a strong demand for marketized services [9]. Group 6: Challenges in Consumption Growth - There is a growing pressure on residents' consumption capacity, with the nominal growth rate of per capita disposable income in 2024 projected at 5.3%, a decline of 3.5 percentage points compared to 2019 [13]. - The supply and demand mismatch in the service sector needs to be addressed, as the service industry is lagging in development compared to high-income economies, with insufficient supply and quality issues in education, healthcare, and other sectors [14]. - Consumer expectations regarding product quality are not being met, with a significant number of complaints related to product quality and service issues, particularly in the elderly consumer market [15].

Core Viewpoint - The "National Subsidy" policy aims to benefit consumers, but issues in the return and after-sales processes are undermining its positive impact [1][2][3] Group 1: Issues with "National Subsidy" Returns - Consumers have reported that their "National Subsidy" qualifications are not returned after product returns, leading to complaints about after-sales service [1] - Problems include platforms replacing the expected 20% government subsidy with small discount coupons and complications arising from the use of virtual currency during refunds [1][2] - The China Consumers Association has highlighted that issues related to "National Subsidy" after-sales processes have become a major complaint area, indicating a need for regulation [1] Group 2: Impact on Consumer Behavior - The inability to return "National Subsidy" qualifications can discourage consumers from making purchases, contradicting the policy's intent to stimulate consumption [2] - Consumers are more likely to replace appliances and home decor due to the "National Subsidy," but after-sales issues create a negative perception [2] - Trust and support from consumers are essential for businesses and platforms, and any manipulation of the subsidy undermines this relationship [2] Group 3: Recommendations for Improvement - Regions like Hunan and Shanghai have established clear guidelines for returning subsidy qualifications, which could serve as a model for other areas [3] - There is a call for automatic restoration of subsidy qualifications for transactions that are not completed, as well as clearer regulations regarding price protection for subsidized products [3] - The effectiveness of the "National Subsidy" policy in benefiting consumers and stimulating consumption depends on fair and transparent after-sales rules [3]

Core Viewpoint - The film market is thriving this year, driven by several high-quality blockbusters, but the issue of "viewing service fees" has raised concerns among consumers regarding their transparency and reasonableness [1][2]. Group 1: Viewing Service Fees - Consumers have discovered that online movie ticket prices include a service fee, which in some cases exceeds the ticket price itself, leading to questions about the fairness of these charges [1]. - The service fee is collected by third-party ticketing platforms and cinemas, with cinemas claiming it covers maintenance costs for equipment, staff, and cleanliness [1]. - The separation of ticket prices and service fees has caused confusion, as service fees are entirely retained by cinemas, allowing them to bypass revenue sharing with distributors [1]. Group 2: Consumer Concerns - The lack of transparency in service fees creates a situation where consumers feel they are in a passive consumption predicament, undermining their rights [2]. - Consumers are not opposed to fees but are concerned about their lack of clarity and fairness, as service fees vary significantly based on platform, cinema, showtime, and seating area [2]. - Many consumers do not perceive the value of the services provided, as they experience outdated equipment and poor service quality, leading to a disconnect between the fees charged and the services rendered [2]. Group 3: Recommendations for Improvement - Cinemas should innovate their service models to transform service fees into enhanced viewing experiences, which could lead to greater consumer acceptance [3]. - By upgrading equipment and improving audiovisual effects, cinemas can create unique experiences for audiences, thereby justifying service fees [3]. - The film industry should focus on enhancing service quality and optimizing viewing environments to drive consumer spending and improve overall satisfaction [3].