Group 1 - The core viewpoint emphasizes the need for continuous improvement in long-term consumption promotion mechanisms to stimulate market vitality, as evidenced by a 4.7% year-on-year growth in retail sales of consumer goods in the first four months of the year, which is a slight acceleration from the first quarter [1] - The article highlights the importance of enhancing the evaluation and incentive mechanisms for local governments to promote consumption, as funding for consumption promotion often does not yield immediate returns and can crowd out rigid expenditures [1] - It suggests that a well-structured assessment system should guide local governments to prioritize consumption promotion, increase investment in consumption infrastructure, and optimize the consumption environment [1] Group 2 - The article advocates for a prudent regulatory approach that fosters the growth of new consumption formats while ensuring necessary oversight, emphasizing the need for a supportive business environment to unleash market vitality [2] - It stresses the importance of increasing income and reducing burdens for low- and middle-income groups to enhance their consumption capacity and willingness, indicating that economic development should focus on improving residents' consumption rather than merely serving as a short-term regulatory tool [2] - The need for a balanced income distribution mechanism is highlighted, aiming to expand the middle-income population and ensure that consumption policies help consumers access products and services that meet their needs [2] Group 3 - The current transition in China's consumption patterns from physical goods to services and from survival-based to development-oriented consumption is noted, indicating a significant historical shift [3] - The article calls for a focus on improving supply quality to address product and service gaps, accelerate the cultivation of new consumption formats, and expand consumption spaces [3] - It emphasizes the importance of enriching consumer experiences and leading market demand through high-quality supply [3]

Group 1: Core Objectives of the Implementation Plan - The Shenzhen government has officially issued the "Implementation Plan for Boosting Consumption," which includes 39 specific measures aimed at enhancing residents' consumption capacity and willingness, increasing the supply of quality and diverse consumption options, and strengthening policy support and guarantees [1][2][4] Group 2: Enhancing Residents' Consumption Capacity and Willingness - The plan proposes actions to increase residents' income, ensure consumption capacity, and optimize consumption restrictions, including subsidies for eligible job-seeking graduates of up to 100,000 yuan [2][3] - Measures include expanding access to basic medical insurance for children, increasing educational resources, and improving healthcare services [3][4] Group 3: Increasing Quality and Diverse Consumption Supply - The plan emphasizes the promotion of artificial intelligence products and encourages local businesses to launch limited edition and co-branded products [4][5] - It supports the development of new service models in the housing market and encourages the establishment of integrated service spaces for various community needs [5][6] Group 4: Promoting New Consumption Trends - The plan aims to develop pet-friendly commercial areas and enhance cross-border pet services, reflecting the growing "pet economy" [6][7] - It also focuses on boosting tourism by enhancing duty-free shopping options and creating a world-class travel destination [7][8]

此外，完善商业外摆促销和夜间消费场所管理。在不影响市容环境和不违反法律法规前提下，支持大型 商贸企业利用自有场地进行外摆促销，支持临街商铺规范有序外摆经营。 在加大优质多元消费供给方面，《实施方案》提出要打造具有深圳特色的工业消费品集群，包括大力推 广人工智能终端消费，加速推广全屋智能产品，大力发展时尚消费，培育壮大户外装备消费等。此外， 进一步释放入境消费潜力。建成运营市内免税店，新增口岸免税店和40家离境退税商店。 深圳推出39条措施提振消费。 近日，记者从深圳市发展和改革委员会网站了解到，《深圳市提振消费专项行动实施方案》（以下简称 《实施方案》）已经深圳市委、市政府同意并正式印发。《实施方案》围绕提升居民消费能力和意愿、 加大优质多元消费供给，以及加强政策支持和配套保障三个方面提出39条具体措施，全方位扩大消费需 求、繁荣消费市场。 在提升居民消费能力和意愿方面，《实施方案》提出多渠道增加居民收入。落实国家稳住楼市股市各项 工作，拓宽财产性收入渠道。按照省统一部署，结合经济发展水平、城镇居民消费价格变化等，科学合 理提高最低工资标准。 在强化居民消费能力保障上，《实施方案》提出加大生育养育保障力度，推 ...

孙正义（2月） 软银集团旗下的英国半导体设计巨头Arm的CEO雷内・哈斯（Rene Haas）的2024财年薪酬达到约49亿 日元（约合人民币2.45亿元）。孙正义自身的薪酬和分红分别是…… 软银集团（SBG）6月3日公开了将于6月27日召开的定期股东大会召集通知。旗下的英国半导体设计巨 头Arm首席执行官（CEO）雷内・哈斯（Rene Haas）的2024财年薪酬较上一财年增加4成，达到约49亿 日元（约合人民币2.45亿元）。其中Arm的薪酬为48亿日元。还从软银集团获得9600万日元薪酬。 软银集团的创始人、会长兼社长孙正义的薪酬为1亿日元（约合人民币499.49万元）。股票薪酬为8800 万日元，与业绩无关的固定的基本薪酬为1200万日元。 截至2025年3月末，孙正义持有约4亿2600万股软银集团股票，通过分红获得的收入达到187亿日元（约 合人民币9.34亿元）。 孙正义持有软银集团已发行股份（不包括自有股票）的29.68%。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com ...

收入总额中的下列收入为不征税收入： 二、可以作为企业所得税不征税收入的专项用途财政性资金需要满足什么条件？ 企业从县级以上各级人民政府财政部门及其他部门取得的应计入收入总额的财政性资金，凡同时符合以下条件的，可以作为不征 税收入，在计算应纳税所得额时从收入总额中减除： 欢迎扫描下方二维码关注： 根据《中华人民共和国企业所得税法》的规定，企业每一纳税年度的收入总额，减除 不征税收入 、免税收入、各项扣除以 及允许弥补的以前年度亏损后的余额，为应纳税所得额。不征税收入属于跨年度事项，也是企业所得税常见风险事项。我们整 理了相关知识点，一起来看看吧！ 一、不征税收入有哪些？ （一）企业能够提供规定资金专项用途的资金拨付文件； （二）财政部门或其他拨付资金的政府部门对该资金有专门的资金管理办法或具体管理要求； （一）财政拨款； （二）依法收取并纳入财政管理的行政事业性收费、政府性基金； （三）国务院规定的其他不征税收入。 注意： 不征税收入与免税收入是两个 不同 的概念，包括的内容也不相同。 （三）企业对该资金以及以该资金发生的支出单独进行核算。 注意： 可以作为不征税收入处理的财政性资金，必须 同时符合 上述三个条 ...

Core Viewpoint - The European Central Bank (ECB) indicates that increased income and a strong labor market will drive higher consumer spending [1] Group 1: Economic Indicators - The ECB highlights that rising incomes are expected to contribute positively to consumer expenditure [1] - A robust job market is identified as a key factor supporting increased spending [1] Group 2: Implications for Spending - The combination of higher income levels and strong employment is projected to lead to more significant consumer spending in the economy [1]

Core Viewpoint - The "Big Beautiful Bill" passed by the House of Representatives is expected to increase the net deficit by at least $3 trillion over the next decade, with significant implications for U.S. fiscal policy and economic growth [3][11][28]. Summary by Sections Bill Content and Progress - The "Big Beautiful Bill" includes the permanent extension of key provisions from the 2017 Tax Cuts and Jobs Act, additional tax relief measures, and increased spending in defense and border security while cutting expenditures in agriculture, education, and energy [3][11][13]. - The bill is projected to increase the national debt by approximately $3.8 trillion over the next ten years, according to the Congressional Budget Office (CBO) [11][28]. Tax Policy - The bill extends and makes permanent the major provisions of the 2017 Tax Cuts and Jobs Act, introduces new personal and family tax cuts, and raises the state and local tax deduction cap from $10,000 to $40,000 [13][14]. - It also imposes higher tax rates on passive income for individuals and corporations from countries deemed to have "discriminatory" tax policies, potentially reaching a maximum rate of 20% [4][14]. Deficit and Revenue Projections - The estimated annual tariff revenue is projected to reach around $200 billion, which could help mitigate the deficit increase caused by the bill, although it will not fully cover the shortfall from tax cuts [5][30]. - Under baseline assumptions, the deficit rates for 2025 to 2028 are estimated to be around 6.4% to 7.0%, with optimistic scenarios potentially lowering the rates slightly [6][30][28]. Economic Impact - The bill is expected to provide a marginal boost to economic growth, with projections indicating a real GDP growth rate of approximately 1.5% in 2025 and a potential recovery to 2.0%-2.5% in 2026 due to tax cuts and lower interest rates [7][32]. - However, the long-term fiscal sustainability remains a concern, as the combination of increased deficits and rising interest payments could lead to a significant increase in the national debt [34][38]. Long-term Debt and Interest Risks - The CBO estimates that if the ten-year Treasury yield remains at 4.5%, interest payments could exceed $13 trillion by 2034, significantly increasing the fiscal burden [34][38]. - The debt-to-GDP ratio is projected to rise from nearly 100% to 128% by 2034, raising concerns among credit rating agencies about the sustainability of U.S. fiscal policy [38]. Market Reactions and Bond Yields - Recent increases in long-term U.S. Treasury yields are attributed to the "Trump premium," reflecting market concerns over the fiscal implications of the "Big Beautiful Bill" and the potential for increased deficits [45][51]. - Despite short-term pressures, the 10-year Treasury bonds are still viewed as having significant investment value, especially in light of potential future interest rate cuts by the Federal Reserve [52].

以下文章来源于中国银河宏观 ，作者中国银河宏观 中国银河宏观 . 中国银河证券宏观经济研究 文/中国银河证券首席宏观分析师 张迪 、 中国银河证券宏观经济分析师 于金潼 、中国银河证券宏观经济分析师助理 铁伟奥 5月22日，美国众议院以215比2 1 4票的微弱优势通过2 0 2 5财年预算 协调法案"The One , Bi g, Be a utif ul Bill "（大美丽法案）。不同机 构估计，该法案将在未来1 0年内使净赤字增加至少3万亿美元。这个 法案究竟会带来什么影响？ 大美丽法案包括什么？ 5月22日，美国众议院以215比214票的微弱优势通过2025财年预算协调法案"The One, Big, Beautiful Bill"（大美丽法案）。不同机构估计，该法案将在未来 10 年内使净赤字增加至少3 万亿美元。主要内容包括延长并永久化2017年《减税和就业法案》的主要条款，并添加额外的税收减免 政策；虽然在农业、教育、能源等领域削减了支出，但在国防和边境安全上扩大了支出，叠加减税政 策，总体上法案让美国政府赤字进一步上行。 其中外国资产税引人注意，法案第899条规定对美国认为 存在税收政策"歧 ...

以下文章来源于e公司 ，作者证券时报 胡敏文 e公司 . e公司，证券时报旗下专注上市公司新媒体产品，立志打造A股上市公司资讯第一平台。提供7x24小时上市公司标准化快讯，针对可能 影响上市公司股价的主题概念、行业事件及时采访二次解读，从投资者需求出发，直播上市公司有价值的活动、会议。 那么，为何近期上市公司频繁出现总额法与净额法的使用纠偏？当上市公司因改用净额法致使营收规模大幅"缩水"时，投资者该如何校准自己 的估值判断呢？ 2025年以来，A股上演收入确认"大洗牌"。 *ST沪科对农产品贸易业务"动刀"，将收入核算方式从总额法改为净额法，直接导致2024年1—9月营收锐减九成以上；特锐德对充电运营业务中 的电费收入确认规则进行重新认定，调减2023年度营业收入19亿元。 据证券时报记者不完全统计，今年以来，已有超过30家上市公司在会计差错更正相关公告中，宣布收入确认方法由总额法改为净额法，更正后 收入合计调减过百亿元。 这也是近年监管重点核查领域。ST舜天、ST华闻、中泰化学等多家上市公司，就曾因错误适用总额法导致收入核算不准确，而受到监管部门的 处罚。 年内超30家差错更正 梳理多家上市公司会计差错更正 ...

【事件】 根据澳门统计局数据，澳门 2024 年入境旅客共 3492.9 万人次，同比按年 增长 23.8%；2025 年 4 月入境旅客共 309.3 万人次，同比增长 18.9%；2025 年 1-4 月入境游客共 1295.5 万人次，同比增长 12.9%。 汇彩控股（1180.HK） 2025-06-04 星期三 【点评观点】 即时点评 澳门旅游数据持续回暖，博彩行业变化带来新机遇 ➢ 疫情后澳门旅客人数增长显著，幸运博彩收入回暖 根据澳门博彩监察协调局数据，澳门 2024 年幸运博彩毛收入为 2267.8 亿 澳门币，同比按年增长 23.9%；2025 年 5 月幸运博彩毛收入为 211.9 亿澳 门币，同比增长 5%，2025 年 1-5 月累计毛收入为 977.1 亿澳门币，同比增 长 1.7%。 疫情后访澳旅客人数恢复良好，根据澳门统计局数据，2024 年入境澳门旅 客同比增长 23.8%达到 3492.9 万人，2025 年 1-4 月入境澳门旅客人数同比 增长 12.9%。 澳门幸运博彩收入随旅客趋势收入保持恢复态势，根据澳门博彩监察协调 局数据，澳门 2024 幸运博彩毛收入同比增长 2 ...