4月24日，成都市统计局发布，一季度，全市实现地区生产总值5930.3亿元，按不变价格计算，同比增长6.0%，这一增速分别高于四川省 和全国0.5和0.6个百分点，也比成都去年全年增速高出0.3个百分点，显示经济持续向好发展的态势。 支柱产业增长提速 从供给端来看，成都工业表现亮眼。一季度，规模以上工业增加值同比增长8.1%，比上年全年加快3.3个百分点。其中有色金属冶炼和压 延加工业、汽车制造业、通用设备制造业、计算机通信和其他电子设备制造业增加值分别增长83.7%、25.4%、24.7%、22.7%。 汽车和电子信息产业是成都最重要的两大支柱产业，今年一季度这两大产业实现大幅增长，带动工业增速提升，为经济增长提供了有力 支撑。 成都汽车产量曾经跻身全国十强城市，2017年达到133万辆，但在新能源汽车变革大潮中受到影响，2024年产量降至75万辆。不过，今 年成都汽车产量大增，一季度，成都生产汽车20.2万辆，增长26.8%，其中新能源汽车产量为5.5万辆，增长409.1%。 消费活力增强 成都今年一季度经济展现出来的活力和向好势头不仅体现在生产上的活跃，从需求端来看，成都的消费持续提振。一季度，社会消费 ...

消费是夯实经济高质量发展的基础 消费是最终需求，既是经济增长的起点，也是长期发展的核心动力。提振既是应对外部环境变化、构建新发展格局的必然选择，也是发挥我国大国经济优 势、推动经济长期健康发展、持续满足人民美好生活需求的关键举措。 问题与挑战。近年来，尽管中国经济保持稳中有进的发展态势，但全球经济复苏乏力，外部需求不确定性上升，国内经济结构深度调整，内外部环境的变化 加速了经济增长动力的转换。国际上，全球经济下行压力加大，地缘冲击与博弈加剧，贸易保护主义抬头，逆全球化等趋势冲击全球供需格局。我国作为全 球制造业和出口大国，以外需作为重要驱动的增长模式面临新的挑战。与此同时，国内需求结构正在重塑。在疫情冲击、金融行业调整等多重因素交织影响 下，居民收入预期有所下降，消费信心和支付能力受到抑制，有效需求不足对供给端形成约束，影响经济增长动能。此外，在城镇化深入推进、新兴消费模 式蓬勃发展的背景下，消费需求正加快从生存型、物质型向发展型、服务型升级，内需对经济增长的支撑作用愈发凸显。 文/ 清华大学中国经济社会数据研究中心助理研究员 张航 ，清华大学五道口金 融学院讲席教授 陆毅 消费是经济高质量发展的基础动力，当 ...

文 /高歌、李悦 今年一季度财政发展前置，趋势呈现温和回升态势，直接改善了非政府部门现金流，但CPI、PPI、 GDP平减指数仍处低位，低通胀情况并未改变，国内需求不足局面仍未完全摆脱。 一季度，国内资本市场的表现在类平准基金稳定下得以回稳，但真正的考验在于外部环境的变化对实 体部门的影响。外部冲击下，二季度挑战与隐忧仍存。 4月21日，在CF40 宏观政策季度报告发布会上，多位专家聚焦当前宏观经济形势与扩大消费的政策 选择。面对美"对等关税"冲击以及二季度财政发债退坡压力，短中长期如何有效扩大内需，扩大消 费的政策选择与排序等议题分享最新观点。 根据中国金融四十人研究院的估算，考虑到出口下降及其乘数效应，美国关税政策对中国经济的总体 影响约为2万亿元，占GDP比重约1.5个百分点。 "这种冲击在短期内会比测算结果更大，因为长期来看企业会想各种办法绕过这个问题。总的来说， 关税冲击是二季度经济面临的最大挑战。"4月21日，在CF40宏观政策季度报告发布会上，CF40资 深研究员、中国社科院世界经济与政治研究所副所长张斌表示。 他进一步提示， 关税的冲击本质上是对需求的冲击 ， 我们要加大扩大内需力度，增加国内 ...

Core Insights - Qingdao Beer has been recognized as one of the first "Chinese Consumer Brands" by the Ministry of Industry and Information Technology, highlighting its commitment to quality and consumer satisfaction [1] - The brand's unique "digital end-to-end quality management model" has allowed it to create products that exceed consumer expectations, reinforcing its strong market presence [1][6] Product Strategy - Qingdao Beer has developed a diverse product matrix consisting of 9 major series and over 70 products, catering to various consumer preferences and age groups [3] - The company has introduced innovative products such as the A6 and A3 from the upgraded Aogute series, as well as unique offerings like Nikashi White Beer and non-alcoholic White Beer, enhancing its product differentiation [5] Quality Management - The company emphasizes a rigorous quality control process, involving over 1,800 quality inspection projects and meticulous selection of ingredients, ensuring high standards in every bottle [7] - Qingdao Beer has integrated traditional craftsmanship with modern technology, digitizing quality management practices to preserve the expertise of its artisans [9] Consumer Engagement - Qingdao Beer has successfully positioned itself as a brand that resonates with younger consumers by creating products that align with their emotional and experiential values [10] - The brand has engaged in various marketing initiatives, including collaborations with sports events and the creation of themed products, to enhance its connection with consumers [12] Market Positioning - Qingdao Beer is seen as a leader in the Chinese beer industry, continuously innovating and adapting to market changes while maintaining a focus on quality [5][6] - The brand's ability to blend tradition with modern consumer trends has solidified its reputation as both a classic and trendy choice in the beverage market [10]

港股方面，雨润食品盘中涨幅一度超过9%，周黑鸭盘中涨幅一度超过8%，中国波顿、华润饮料、卫龙 美味、怡园酒业等多股涨幅居前。 消息面上，多地出台提振消费专项行动实施方案。近日，《河北省提振消费专项行动实施方案》正式印 发，围绕"2025年全省社会消费品零售总额增长5%左右"的核心目标，提出5大行动24条举措。 海南省人民政府办公厅近日印发《海南省提振和扩大消费三年行动方案》。方案包括消费回流能级提升 行动、旅游消费提质扩容行动等多项行动，以及完善支持政策。其中提到，加大财政支持力度。2025— 2027年，统筹各级财政资金100亿元以上，支持海南省提振和扩大消费。 食品饮料板块逆市走强。 今天上午A股市场整体低位震荡，主要指数多数时间下跌。行业板块和赛道方面，食品饮料板块大涨， 多股盘中涨停。 港股市场上午整体窄幅震荡，其中的食品饮料板块也大幅上涨，港股雨润食品盘中涨幅一度超过9%， 周黑鸭盘中涨幅一度超过8%，中国波顿、华润饮料、卫龙美味、怡园酒业等多股涨幅居前。 A股、港股食品饮料板块走强 今天上午A股、港股市场整体低位震荡，主要指数多数时间下跌。 行业板块和赛道方面，食品饮料板块大涨，一致魔芋盘中涨超2 ...

Group 1 - The article emphasizes the need for targeted redistribution policies to boost consumption and promote economic growth, especially in the context of increasing external uncertainties [1][2] - It highlights that improving the redistribution mechanism could be key to stimulating internal consumption and economic growth, as the current income distribution structure is inadequate [1][3] - The article points out that the disposable income of residents in China is significantly lower compared to major economies like Japan, Germany, and the United States, indicating a need for better redistribution adjustments [3][4] Group 2 - The article suggests that policies should balance short-term and long-term goals, combining growth stabilization with reform promotion to enhance the social welfare system and shift economic demand towards consumption, particularly in services [2][16] - It recommends increasing transfer payments to households and optimizing government spending structures to improve efficiency and stimulate market supply and investment [2][17] - The article discusses the importance of tax reforms that align with economic structural adjustments to address constraints on high-quality economic development and guide consumption through tax policies [2][18] Group 3 - The article notes that the growth rate of urban residents' disposable income has generally lagged behind GDP growth, particularly in urban areas, indicating a need for policy intervention [4][11] - It highlights that social security spending in China is relatively low, accounting for only 3.1% of GDP, suggesting significant room for improvement in public spending on social welfare [4][20] - The article emphasizes the potential of government investment in social services to stimulate market demand and improve living standards, particularly in areas like elderly care and childcare [17][19] Group 4 - The article discusses the potential for issuing additional government bonds to finance consumption-oriented policies, indicating that there is still room for fiscal expansion [20][22] - It suggests that the government should balance funding between consumption and investment to ensure sustainable economic growth, especially in light of external uncertainties [23] - The article concludes that enhancing domestic consumption is crucial for stabilizing foreign investment and fostering high-quality development in the consumer market [23]

智通财经APP获悉，国信证券发布研报称，2024年9月24日以来，宏观政策暖风频吹，并重点强调提振 消费。3月中办、国办印发《提振消费专项行动方案》，旨在全方位扩大国内需求，提升消费能力，优 化消费环境。而近期外部贸易环境不确定性加大，不仅引发资本市场对于内需板块的关注度提升，并进 一步强化市场对于后续更大力度提振消费政策的预期。我国绝大部分食品饮料公司的供应链端及市场端 均在国内，受关税风波扰动小，食品饮料板块也因此具备较强的防御属性。综合来看，该行认为当前食 品饮料板块配置价值凸显，建议积极布局。 推荐按照以下三条主线：优先推荐政策敏感度高的啤酒、餐饮供应链、乳制品板块，推荐华润啤酒、青 岛啤酒、燕京啤酒、安井食品、颐海国际等。强者恒强，优选个股，推荐有份额提升或业绩确定性强的 个股，如东鹏饮料、卫龙美味、盐津铺子、海天味业等。在弱现实背景下，高股息仍然是最大的保障， 如重庆啤酒等。 国信证券主要观点如下： 消费需求进入平台期 近两年需求疲弱是消费品公司估值和业绩承压的主因，根据该行的观察，居民消费行为与经济体感有 关，换言之，居民对温差敏感度远大于温度，虽目前仍在冰点附近，但近期并未有继续降温的迹象，且 ...

Core Viewpoint - The Postal Savings Bank of China Sichuan Branch is actively enhancing its financial services across various sectors, including private economy, rural revitalization, and consumer promotion, to support local economic development and fulfill its mission as a state-owned bank [2][3][5]. Financial Support for Private Economy - The bank has increased its financial support for private enterprises, with a focus on tailored financial solutions to meet specific business needs, such as the "Zhuangda Loan" which helped a technology company save nearly 1 million yuan in financing costs [5][6]. - In the first two months of the year, the bank issued loans totaling 1.145 billion yuan to 1,175 private enterprises, with a loan balance of 4.943 billion yuan, accounting for 58.30% of total loans [6]. Support for Agricultural Development - The bank has provided significant financial support for agricultural production, with 190 million yuan in credit funds allocated to help establish high-standard farmland in Quxian County [7][8]. - The bank's agricultural loans increased by 16.9 billion yuan in 2024, exceeding regulatory targets, with a 26.65% increase in loans in key rural revitalization areas [8]. Promotion of Consumer Spending - The bank has actively supported consumer spending by issuing 3.2 billion yuan in personal consumption loans in 2024, including 1.57 billion yuan for non-housing consumption [9]. - Various promotional activities have been launched, such as discounts for credit card users, to stimulate local consumption and enhance financial literacy among consumers [9][10]. Innovation in Financial Products - The bank has developed innovative financial products, such as online mortgage loans and intellectual property pledge loans, to support technology-driven enterprises and facilitate their growth [3][4]. - The bank's technology finance loan balance reached 19.947 billion yuan, with a net increase of 6.327 billion yuan, reflecting a growth rate of 46.46% [3]. Commitment to Elderly Financial Services - The bank has implemented specialized services for elderly clients, including dedicated service windows and priority services for vulnerable groups, contributing to the "financial aging" reform [4]. - The bank has focused on pension planning and support for the elderly care industry, creating a comprehensive financial service model for different age groups [4]. Overall Mission and Future Outlook - The Postal Savings Bank of China Sichuan Branch aims to continuously optimize its financial services and innovate its product offerings to contribute to high-quality local economic development and the modernization of Sichuan [10].

3月31日，南京市政府召开新闻发布会，全面解读进一步促进全市房地产市场平稳健康发展七个方面政 策。会上，江苏银行在采访中表示，作为全国系统重要性银行，多年来始终坚持金融为民，以金融力量 推动消费持续扩大，助力人民美好生活。目前，江苏银行已升级打造购房"1+3"一站式专项金融服务， 多措并举助力人民安家置业，推动房地产市场稳中向好。 此外，江苏银行最新推出的家居家装以旧换新专项优惠活动，因其持续时间长，覆盖品类广，吸引了广 大居民的积极参与。12月31日前，客户通过云闪付App绑定江苏银行信用卡支付，在政府以旧换新、国 补的基础上，购买家装家居产品可享受单笔满5000元减200元的优惠，让消费者买的轻松、用的舒心。 近日，为推动落实中共中央办公厅、国务院办公厅印发的《提振消费专项行动方案》，更好满足住房消 费需求，江苏银行在房贷基础上，全面推出购房"1+3"一站式专项金融服务，聚焦客户购房后家装家居 等消费场景，推出"信用消费贷款、补贴申领服务、以旧换新活动"三大延伸服务，实现"购房、装修、 家装、家电"全流程闭环。 下阶段，江苏银行将始终紧跟国家大政方针，持续开展消费提振专项行动，深入践行20条惠民举措，进 ...

《提振消费专项行动方案》（下称《方案》）对"有序减少消费限制"作出专门部署，特别"点名"改革汽车消费管理 模式，"推动汽车等消费由购买管理向使用管理转变，分年限保障'久摇不中'无车家庭购车需求"。受访专家指出，若 在全国范围内取消汽车限购，五年内每年新增新车消费将拉动社会消费零售总额增加0.5%、GDP增加0.3%。 有序放开汽车限购势在必行 "当前我国居民消费不足是'无力消费、无意消费、无法消费'共同作用的结果，因此，要提振居民消费必须分类施 策。"国家信息中心经济预测部主任张宇贤近日表示。 在张宇贤看来，汽车限购就属于"无法消费"一类。他表示，对于无法消费现象，要通过破除体制机制障碍，取消不 合理的限制性措施等来释放消费潜力，比如，进一步放松汽车限购等，这是短期内就可以见效的，而且也是受消费 者欢迎的。 以北京为例，2024年12月北京第二期普通小客车（油车）指标摇号，有66.3万个家庭与266万个人共同竞争仅9600个 指标，家庭中签概率不足1%，个人更是低至千分之一水平。 "限购的最大负面影响莫过于限制了数百万辆汽车的消费需求。"如是金融研究院院长管清友在2024年发表的《关于 汽车限购政策的来由、现 ...