Core Viewpoint - China Construction Bank (CCB) is actively supporting the expansion of domestic demand and consumption through comprehensive financial services, aligning with national strategies to enhance economic growth and consumer spending [1][2]. Group 1: Support for Consumption - CCB has launched a "Consumption Financial Special Action" to enhance financial services in the consumption sector, aiming to meet the financial needs of consumers effectively [2][6]. - As of the end of October, CCB's loans in key consumption areas exceeded 1 trillion yuan, with personal consumption loans amounting to approximately 810 billion yuan for the year, injecting financial momentum into consumer activity [1][2]. Group 2: Implementation of National Policies - CCB is fully integrating into the "Special Action to Boost Consumption" by enhancing product service integration and creating a comprehensive service system that includes credit, payment, and derivative services [2][4]. - The bank has utilized structural monetary policy tools, such as service consumption and pension re-loans, with over 100 billion yuan allocated to support sectors like tourism and hospitality [2][4]. Group 3: Focus on Key Consumption Areas - CCB is prioritizing financial support for key sectors such as tourism, culture, sports, health, education, and elderly care, with loans in these areas growing over 60% compared to the end of 2022 [6][8]. - The bank is also enhancing infrastructure financing, providing over 160 billion yuan in loans to modern logistics, thereby improving the efficiency of the consumption circulation system [8][9]. Group 4: Personal Consumer Services - CCB has expanded its personal consumer loan offerings, serving approximately 35 million customers with a loan balance of 652.7 billion yuan, leading the industry in both scale and growth [9][11]. - The bank has introduced various credit card services and payment solutions to stimulate consumer spending, including partnerships with major e-commerce platforms for promotional activities [9][11]. Group 5: Comprehensive Financial Services - CCB is leveraging its comprehensive financial service capabilities to integrate into the consumption ecosystem, enhancing both online and offline service offerings [11][12]. - The bank is focusing on deepening relationships with group chain customers, providing integrated financial and non-financial services to support their operational needs [12]. Group 6: Future Directions - CCB plans to continue implementing national policies aimed at expanding domestic demand and boosting consumption, with a focus on new consumption trends such as green and digital consumption [12].

商务部最新数据显示，今年前11个月，消费品以旧换新带动相关商品销售额超2.5万亿元，惠及3.6 亿多人次。今年以来，我国共分4批向地方下达3000亿元超长期特别国债资金，支持消费品以旧换新。 政策效应加快释放，带动数字、绿色等新型消费发展向好。 一方面，建议多措并举促进服务消费需求的有效释放，除拓展服务消费补贴范围、培育优质服务供 给外，考虑推动职工法定休假应休尽休，搭配推行中小学春假制度，发挥假日经济对消费的拉动作用， 进一步扩大服务业开放，尤其是要建立更便捷、高效的消费纠纷解决机制，推动消费相关行业的专业化 和标准化发展，通过制定行业标准和指南，帮助消费者更好地识别产品质量，降低感知风险，增强消费 信心。 另一方面，完善以人为本的城镇化改革，释放新市民的住房、教育等需求。建议进一步深化户籍制 度改革，加强教育、医疗、养老、住房等领域投入，推动未落户常住人口均等享有基本公共服务。住房 方面，从短期供求关系看，一线和新一线城市有望完成"止跌回稳"目标，大部分城市仍将面临房价下跌 压力，复苏分化是一个新常态。当前家庭小型化、多样化，人民对"好房子"的追求，以及人在不同阶段 对房子的需求差异等对房市仍有多样性的需 ...

Core Viewpoint - The article emphasizes the necessity of boosting consumer spending as a strategic choice to enhance domestic circulation and internal economic growth dynamics, particularly in the context of China's transition to high-quality development [3][5]. Group 1: Importance of Boosting Consumption - Strengthening consumer spending is crucial for expanding domestic demand and stimulating production scale, which can lead to economic structure optimization [3]. - Consumer spending contributed 53.5% to economic growth in the first three quarters of 2025, reinforcing its role as the primary driver of economic development [4]. Group 2: Reasons for Weak Consumer Spending - The weak consumer spending in China is closely linked to the traditional allocation of public resources, which has historically favored supply-side initiatives over demand-side support [6]. - The low share of household income in the national income distribution is a significant factor contributing to the low consumer spending rate, with households accounting for only 60.6% of national income compared to the global average [7][8]. Group 3: Measures to Enhance Consumer Spending - Improving the income distribution mechanism is essential for establishing a long-term mechanism to boost consumer spending, including increasing labor compensation and optimizing tax structures [9]. - Expanding social security and public service investments can effectively release consumer potential and support spending growth [9]. Group 4: Challenges to Overcome for Increased Consumption - The article identifies three major challenges: the long-term trend of slowing GDP and disposable income growth, the significant income disparity among residents, and the rapid aging of the population [10][11][12][13]. - Addressing these challenges is critical for maintaining a stable consumer spending rate that aligns with economic development stages and avoiding potential economic slowdowns [10][11].

作者：李泽正，国家发展改革委投资研究所融资室主任 近日，国家发展改革委办公厅印发《基础设施领域不动产投资信托基金（REITs）项目行业范围清单 （2025年版）》（以下简称《2025年版清单》）的通知，将体育场馆，商旅文体健等多业态融合的商业 综合体，四星级及以上酒店，超大特大城市商务楼宇，以及老旧街区、老旧厂区更新改造等城市更新项 目纳入REITs项目行业范围，填补了我国REITs市场底层资产大类的重要空白，我国REITs市场发展再次 迈出关键一步。 一、我国REITs市场从基础设施领域起步，市场运行平稳、发展有序 《2025年版清单》将体育场馆，商旅文体健等多业态融合的商业综合体，四星级及以上酒店，超大特大 城市商务楼宇，以及老旧街区、老旧厂区更新改造等城市更新项目纳入REITs范围，既是落实国家重大 战略的关键举措，也推动我国REITs市场与国际REITs市场更加接轨。 从提振消费看，《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》要求，深入实施提 振消费专项行动，扩大优质消费品和服务供给。体育场馆、商旅文体健等多业态融合商业综合体以及酒 店项目，从单一消费场景深耕、多元场景协同、旅行消费核 ...

Group 1 - The 2025 Analyst Conference highlighted the theme of high-quality development in China's upcoming "14th Five-Year Plan," focusing on technological self-reliance, boosting consumption, and building a unified national market [1] - Li Xunlei, Chief Economist at Zhongtai International, emphasized the importance of structural opportunities arising from the transition of old and new driving forces and the robust development of high-tech industries [3] - The conference participants included experts, scholars, and leaders from brokerage firms, funds, and private equity, all seeking investment insights to navigate through economic cycles [1] Group 2 - Li Xunlei projected that AI is not a bubble and its development is in full swing, indicating a bright future for the technology [3] - The current focus should be on the application of AI technology and the rise of potential enterprises, which should be a key area for analysts to study [3]

转自：新华财经 "通过车商了解到农行限时免息购车福利后，果断选择农行办理了汽车分期。流程简便，只需几分钟， 我就拿到钱开始办理提车手续了。"鄂尔多斯市某汽车4S店内，正在购车的张女士满脸喜悦地说。 农行鄂尔多斯分行联合全市70余家主流车企及品牌4S店，推出"10%低首付""5年超长分期"等汽车分期 服务。所有服务都可在线上申请、审核，符合条件的客户最快10分钟内就能获得贷款。"看车看了这么 久，终于可以开着心爱的车回家了。"张女士充满期待地走出了汽车4S店。此外，鄂尔多斯分行针对重 点客群，实现"一张身份证"即可低首付快速提车。 鄂尔多斯分行的高效服务是农行内蒙古分行贯彻落实提振消费政策的缩影。农行内蒙古分行深化与优质 汽车经销商的战略合作，分类施策提供精准服务。通过制定专项分期服务方案，实施城区与县域差异化 管理模式，重点聚焦汽车下乡、新车促销、旧车置换、新能源补贴等核心领域，优化服务流程设计，高 效运用主干道审批策略，实现单笔业务审批省时提效。通过系统化推进各项创新举措，着力打造"购车 首选农行"的品牌口碑，切实提升金融服务实体经济质效。 截至11月末，农行内蒙古分行实现汽车分期交易额19.93亿元，同比 ...

值得注意的是，参与活动的发票需以个人为购买方（购买方名称需与参与人实名认证信息一致），且每 张符合条件的有效发票仅可获得1次抽奖机会，不可重复上传、重复参与，系统将对发票信息进行唯一 性校验，坚决杜绝虚假参与、重复抽奖等行为。 又一个提振消费的利好来了。28日，据广东省税务局举办的媒体通气会消息，2025年12月1日至2026年3 月31日，个人消费者在广东省（不含深圳市，下同）范围内，消费金额（价税合计）100元（含）以 上，获取发票，就有机会参与抽奖，最低奖金10元，最高有200元。 发票抽奖活动是广东省2025年"粤享暖冬 乐游广东"消费季六大优惠政策的核心组成部分之一。活动期 间，个人消费者在广东省内进行零售、住宿、餐饮消费时，取得省内经营者依法开具的价税合计金额 100元（含）以上的普通发票，包括电子发票（普通发票）、增值税普通发票、增值税电子普通发票、 增值税普通发票（卷票）、机动车销售统一发票，均可参与抽奖。 取得符合条件的发票后，个人消费者可通过微信登录"粤税通"小程序，进入"我的发票—个人有奖发 票"活动专区，扫描发票二维码或手工录入发票相关信息，登记参与"发票抽奖"活动。 同时，发票开具时 ...

Core Viewpoint - The People's Bank of China and other departments have issued a plan to boost and expand consumption in Beijing by 2030, with the banking sector actively increasing credit support and optimizing services to stimulate market potential [1] Group 1: Financial Support for Consumption - The implementation plan emphasizes increasing credit support for consumer goods, enhancing cultural and tourism consumption, and improving financial services for the accommodation and catering industry [2] - Banks are focusing on upgrading consumption credit support for sectors like new energy vehicles and smart home products, with measures such as extending loan terms and lowering interest rates to reduce consumer barriers [2] - In the accommodation and catering sector, banks are collaborating with traditional brands and local dining areas to stimulate consumption through promotional activities and providing low-interest loans to support business upgrades [2] Group 2: Rural Consumption and Financial Empowerment - The banking sector has successfully tailored financing solutions for rural businesses, exemplified by a loan of 2 million yuan to a tomato planting cooperative, which has significantly boosted local income [3] - In the cultural tourism sector, banks have provided substantial loans to support the development of integrated tourism projects, attracting a large number of visitors [3] Group 3: Optimizing Services for Small and Micro Enterprises - The plan highlights the importance of supporting small and micro enterprises by reducing their financing costs and providing tailored financial services [5] - Banks are addressing the challenges faced by small businesses, such as high financing costs and lack of credit history, by offering combined credit support and policy subsidies [5][6] - Individual businesses are receiving specialized financial products to facilitate their operations, including unsecured credit loans and digital operational guidance [6]

Core Insights - The current domestic consumption market is characterized by a "slow recovery and transformation" [2] - Key areas of market transformation include the rise of service consumption, multi-dimensional upgrades in consumption quality, and robust growth in rural consumption [2][3] Group 1: Consumption Market Trends - Service consumption has emerged as a significant driver of consumption growth [2] - Consumption transformation is advancing across four dimensions: digitalization, personalization, refinement, and branding [2] - Rural consumption growth continues to outpace urban areas, highlighting the vitality of lower-tier markets [2] Group 2: Strategies for Boosting Consumption - Focus on stabilizing expectations and increasing confidence through active employment policies and investments in key social sectors [3] - Promote income growth and optimize distribution to enhance the purchasing power of middle and low-income groups [3] - Encourage supply-side innovation and improve the consumption environment by aligning products with market demand [3] - Develop diverse consumption scenarios by integrating cultural, commercial, tourism, and sports elements to stimulate consumer activity [3][4] Group 3: Long-term Vision - Consumption is deemed a crucial engine for economic growth, necessitating a systematic and long-term approach to fully unleash its potential [4]

Core Points - The Shanghai Municipal Committee held a special democratic supervision meeting focused on boosting consumption and expanding domestic demand, with an emphasis on building an international consumption center city [1][2] - Various representatives from democratic parties and non-partisan individuals provided suggestions on expanding consumption models, optimizing the consumption environment, and supporting both traditional and emerging businesses [1] - The Shanghai government aims to leverage policies and activities to stimulate consumption, enhance service quality, and promote new consumption trends, particularly in the context of the aging population and inbound tourism [2] Group 1 - The meeting was attended by key officials including the Deputy Secretary of the Municipal Committee and the Mayor, who acknowledged the contributions of various parties to the city's economic development [1][3] - The government plans to focus on key areas to enhance consumption capacity and quality, aiming to optimize the consumption structure and elevate consumption levels across the city [2] - Specific strategies include improving service supply quality, integrating cultural and tourism sectors, and enhancing the inbound tourism experience through better tax refund policies [2]