同时，银行应根据借款人的信用记录和还款保障，与暂时遇到困难的借款人合理商定贷款偿还的期限、 频次，为符合条件的借款人提供续贷支持，帮助消费者渡过难关。 银行应规范消费贷款合同条款，明示最终综合融资成本，让消费者清楚了解贷款的各项费用和利率，避 免因信息不对称而产生误解和纠纷。同时，用好金融产品查询平台和金融消费者保护服务平台，让消费 者更便捷地查询金融产品信息，维护自身合法权益。例如，银行可以在官方网站或手机银行上提供金融 产品查询功能，详细展示各类金融产品的特点、收益和风险等信息；积极参与金融消费者保护服务平台 的建设，及时处理消费者的投诉和咨询。此外，推进消费场景支付便利化，满足老年人、外籍来华人员 等群体的支付服务需求，提供更加人性化和包容性的服务。完善金融消费纠纷多元化解决机制，增强消 费者的消费信心。 未来，随着消费市场的不断变化和发展，银行还需不断创新金融产品和服务模式，以更好地满足消费者 日益多样化的金融需求，为提振消费、扩大内需作出更大的贡献。 （文章来源：证券日报） 2025年，为大力提振消费，中共中央办公厅、国务院办公厅印发《提振消费专项行动方案》，要求各地 区各部门结合实际认真贯彻落实。 ...

由安徽省商务厅、合肥市人民政府联合主办的"徽动消费·皖沪共融"——上海"五五购物节"安徽专场暨 外贸优品中华行(安徽站)活动11日在合肥启动。 据了解，上海"五五购物节"作为上海国际消费中心城市建设的重要品牌活动，自2020年首届举办以来， 已连续成功举办五届，成为上海乃至全国消费市场的标志性盛事。 （文章来源：中国新闻网） 上海市商务委相关负责人表示，沪皖两地经济联系紧密，消费市场互补性强，此次合作将进一步推动两 地资源共享、优势互补，共同打造长三角地区消费新高地。 活动现场还设置了75个特色摊位，同步组织安徽外贸优品、老字号、好网货、长三角优质商品等促销活 动，以及餐饮试吃等活动，形成了良好的促消费氛围。 本次活动是安徽省贯彻落实国家提振消费工作部署、推动长三角一体化发展、助力外贸企业开拓内销市 场的重要举措，通过"1+16+N"的框架体系，在安徽省范围内掀起为期一周的促消费热潮，即组织举办1 个启动仪式，安徽省16个市同步配套开展特色促消费活动，有关行业协会和机构组织开展N场特色主题 活动。 安徽中弘鑫源纺织股份有限公司董事长童彪告诉记者，其公司出口业务占比超六成。"此次活动为我们 外向型企业提供了一个 ...

Economic Performance - In the first quarter, Hebi's GDP grew by 6.4%, surpassing the provincial average by 0.5 percentage points, indicating a strong start to the year [1] - The industrial economy in Hebi showed steady improvement, with the added value of industrial enterprises above designated size increasing by 8.3%, and high-tech industries seeing growth rates of 19% and 15.8% for high-tech and strategic emerging industries respectively [1] Investment and Projects - A total of 68 projects were signed during various industrial summits in April, including significant initiatives in SAR satellites and magnesium-based solid-state hydrogen storage, which are expected to enhance the city's industrial chain and attract investment from key regions such as Beijing-Tianjin-Hebei and the Yangtze River Delta [2] - The city aims to sign over 100 projects worth more than 100 million yuan in the first half of the year, focusing on its "3+3" leading industries and innovative investment models [3] Agricultural Development - During the busy spring farming season, Hebi is prioritizing agricultural management to ensure stable summer grain production, including monitoring crop conditions and implementing pest control measures [3] Consumer Market Initiatives - Hebi plans to launch special actions to boost consumption, including trade-in programs for consumer goods and promoting nighttime economy through cultural and historical sites [3] Strategic Goals - The city is focused on high-quality development and aims to maintain its positive economic trajectory in the second quarter, which is seen as a critical period for achieving annual economic targets [2]

近日，《广东省提振消费专项行动实施方案》（以下简称《方案》）正式印发。"有序减少消费限制"，是《方案》列举的31条具体措施之 一。而其中，"放宽广州、深圳车辆购买限制"的内容备受社会关注。 《方案》提出：鼓励广州、深圳进一步放宽车辆购买限制，增发购车指标，引导深圳推行"久摇不中"个人可直接申领普通车指标的做法，推 动汽车等消费由购买管理向使用管理转变。 "增发购车指标"并非新提法。早在今年3月，中共中央办公厅、国务院办公厅印发《提振消费专项行动方案》，其中明确提出，将分年限保 障"久摇不中"无车家庭购车需求。此前，在4月28日举办的国新办新闻发布会上，国家发展改革委副主任赵辰昕也表示，将指导限购城市，针 对长期摇号家庭和无车家庭等重点群体，定向增发购车指标。 这一系列发声，被业界视作提振汽车消费、回应民生关切的重要信号。 一线城市购车政策相继"松绑" "久摇不中"现象或将改观 从全国范围来看，目前仅有北京、上海、广州、深圳、杭州和天津等一线城市及部分新一线城市仍未完全取消购车限制。随着"鼓励限购城市 放宽车辆购买限制"的提出，多地已在积极探索，特别是对"久摇不中"的家庭和个人出台针对性措施。 在一线城市中，广 ...

Core Viewpoint - The People's Bank of China (PBOC) has implemented a moderately accommodative monetary policy in the first quarter of 2025, resulting in significant effects of counter-cyclical adjustments, including stable financial growth, low social financing costs, and a stable RMB exchange rate [1][3][5]. Monetary Policy Effectiveness - In Q1 2025, China's GDP grew by 5.4% year-on-year, indicating a solid economic start with improved social confidence and high-quality development [3]. - By the end of March, the total social financing stock and M2 money supply increased by 8.4% and 7.0% year-on-year, respectively, with RMB loans totaling 265.4 trillion yuan [3]. - New corporate and personal housing loan rates decreased by approximately 50 and 60 basis points year-on-year, respectively [3]. Policy Direction Changes - The report indicates a shift in the language regarding future monetary policy, moving from "timely adjustments" to "flexibly grasping" the implementation of policies [3][4]. - Emphasis on improving the interest rate regulation framework and reducing the cost of bank liabilities to lower overall financing costs [3][4]. Financial Support Focus - The PBOC aims to enhance financial support for key areas such as technology finance, green finance, and small and micro enterprises, while also stabilizing foreign trade [4][5]. - A new service consumption and elderly re-loan program has been established with a quota of 500 billion yuan at a 1.5% interest rate to stimulate service consumption and support the elderly industry [13]. Market Stability and Risk Management - The report highlights the need to maintain financial market stability and prevent systemic financial risks, with a focus on the importance of managing external shocks and trade protectionism [6][7]. - The PBOC has indicated a potential return to net purchases of government bonds to inject long-term liquidity into the banking system [11]. Consumption and Economic Growth - The report emphasizes the importance of boosting consumption as a key driver for expanding domestic demand and stabilizing economic growth [12]. - Financial support for consumption has a solid foundation, with ongoing improvements in the multi-layered consumer finance service system [12][13]. Debt Sustainability Assessment - The report discusses the sustainability of government debt, noting that China's broad government total assets are equivalent to 166% of GDP, while total liabilities are 75% of GDP, indicating a sustainable debt expansion capacity [14].

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the importance of boosting consumption as a key point for expanding domestic demand and stabilizing growth in its monetary policy execution report for Q1 2025 [1][3]. Group 1: Monetary Policy and Economic Outlook - The PBOC's monetary policy in Q1 2025 has shown significant counter-cyclical adjustment effects, maintaining a supportive stance and implementing moderately loose monetary policies [2]. - The report indicates that the overall financing environment remains relatively loose, with a reasonable growth in monetary credit and a steady decline in the comprehensive financing costs [2]. - The global economic growth momentum is weakening, with increasing country-specific differentiation, and the PBOC expects domestic price levels to gradually recover as domestic demand policies take effect [1][2]. Group 2: Consumption and Fiscal Policy - The report highlights a shift in macroeconomic policy focus from investment to a balanced approach between consumption and investment, with an emphasis on boosting consumption [3]. - The PBOC has established a 500 billion yuan re-loan facility to support consumption and elderly care, aiming to meet the demand for consumption upgrades [3]. - The report notes that the Chinese government's debt expansion remains sustainable due to substantial state assets and low government debt levels compared to other countries [3][4]. Group 3: Price Stability and Demand - To promote reasonable price recovery, the report stresses the need to balance supply and demand, with a focus on expanding effective demand [5]. - The report suggests that price control strategies should shift from preventing "price gouging" to preventing "low-price dumping" [5]. Group 4: Bond Market Development - The report discusses the need for improved bond market construction, highlighting the volatility of government bond yields and the impact of external factors such as U.S. tariff policies [6]. - The PBOC aims to enhance the efficiency of bond market pricing and risk management capabilities, while encouraging banks to engage more in bond trading to maintain market balance [6][7]. - The report proposes innovative trading models and tax improvements for government bonds to enhance market activity [7]. Group 5: Future Monetary Policy Directions - The report outlines the next steps for monetary policy, focusing on promoting reasonable price recovery and ensuring the stability of the RMB exchange rate [8][9]. - It emphasizes maintaining reasonable growth in financing and monetary aggregates, while flexibly adjusting policy implementation based on economic conditions [9]. - The PBOC plans to accelerate financial market institutional development and cautiously advance the internationalization of the RMB [10].

Core Viewpoint - The article emphasizes the shift in macroeconomic policy in China towards a balanced focus on both consumption and investment, with a particular emphasis on boosting domestic consumption as a key driver for economic growth [1][3]. Group 1: Consumption as a Key Driver - Boosting consumption is identified as a critical point for expanding domestic demand and stabilizing growth, as highlighted in the Central Economic Work Conference [3]. - The report indicates that China's final consumption expenditure as a percentage of GDP is still lower compared to countries like the US and Japan, suggesting significant potential for increasing consumption's contribution to economic growth [3]. - The People's Bank of China (PBOC) announced a 500 billion yuan "service consumption and elderly re-loan" to encourage financial institutions to increase support for key service sectors such as accommodation, dining, and education [3][4]. Group 2: Financial Support for Consumption - The report notes that traditional credit reliance is high, while direct financing through equity and bonds is relatively low, indicating a need for financial products that better match consumption demands [3][4]. - Future policies will include a comprehensive set of financial measures to support consumption, focusing on high-quality supply in key service sectors and enhancing infrastructure financing [4]. Group 3: Fiscal Policy Adjustments - The report suggests that fiscal policy should tilt towards areas with consumption effects, increasing investments in services like elderly care, childcare, and healthcare [6]. - The issuance of special local government bonds has accelerated, with nearly 1 trillion yuan issued in the first quarter, effectively boosting investment and confidence [6]. Group 4: Price Stability and Economic Balance - The report highlights the ongoing imbalance between strong supply and weak demand in the real economy, with major price indicators remaining low [8][9]. - To promote reasonable price recovery, it is essential to address deep-seated supply-demand structural contradictions, with a focus on expanding effective demand [9][11]. - The PBOC plans to implement a moderately loose monetary policy to ensure liquidity and align social financing growth with economic growth and price level expectations [11].

Group 1 - The core viewpoint of the report emphasizes the shift in macroeconomic policy towards boosting consumption as a key point for expanding domestic demand and stabilizing growth [1][3] - The report highlights the effectiveness of counter-cyclical monetary policy in the first quarter, with a supportive stance leading to reasonable growth in money credit and a stable financial market [2][3] - The report indicates that the Chinese government's debt expansion remains sustainable compared to the debt situations in the US and Japan, given the large state-owned assets and low government debt levels [3][4] Group 2 - The report outlines a comprehensive financial policy package announced on May 7, which includes measures such as reserve requirement ratio cuts and interest rate reductions to stabilize market expectations and support domestic demand [2][7] - It stresses the importance of enhancing the bond market's construction and efficiency, addressing the need for improved pricing efficiency and risk management capabilities [5][6] - The report calls for a balanced approach to monetary policy, focusing on maintaining reasonable growth in financing and money supply while ensuring the stability of the RMB exchange rate [8][9]

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the importance of boosting consumption as a key point for expanding domestic demand and stabilizing growth in its monetary policy execution report for Q1 2025 [2][5]. Group 1: Monetary Policy and Economic Outlook - The PBOC's report indicates that the monetary policy's counter-cyclical adjustment has shown significant effects in Q1, with a supportive stance and moderate easing measures leading to stable financial market operations [4]. - The report highlights that the overall financing environment remains relatively loose, with reasonable growth in monetary credit and a steady decline in comprehensive financing costs [4]. - The PBOC plans to implement a comprehensive financial policy package announced on May 7, which includes measures such as reserve requirement ratio (RRR) cuts and interest rate reductions to stabilize market expectations and support domestic demand [4][13]. Group 2: Shift in Macro Policy Focus - The report reflects a shift in macro policy thinking, moving from a focus on investment to a balanced emphasis on both consumption and investment, with a particular focus on boosting consumption [5][6]. - It is noted that China's final consumption expenditure as a percentage of GDP is lower compared to countries like the US and Japan, indicating significant potential for increasing consumption's contribution to economic growth [6]. - The establishment of a 500 billion yuan fund for consumer services and elderly care is aimed at enhancing consumption supply and meeting the demand for consumption upgrades [6][7]. Group 3: Price Stability and Demand Expansion - The report stresses the need to promote a reasonable recovery in prices by balancing supply and demand, with a focus on expanding effective demand [7][12]. - Experts suggest that while monetary growth has outpaced economic growth, prices remain low, indicating that simply increasing money supply without improving supply-demand dynamics will not effectively raise demand [7]. - The report advocates for a shift in price control strategies from preventing "price gouging" to preventing "low-price dumping" [7]. Group 4: Bond Market Development - The report discusses the need for strengthening the bond market, highlighting recent fluctuations in government bond yields and the impact of external factors such as US tariff policies [9]. - It emphasizes the importance of improving the pricing efficiency and risk management capabilities of the bond market, with ongoing efforts to enhance the structure and institutional arrangements [9][11]. - Recommendations include encouraging large banks to engage more in bond trading to maintain market balance and improve pricing [11]. Group 5: Future Monetary Policy Directions - The report outlines future monetary policy directions, focusing on maintaining reasonable growth in financing and money supply while enhancing the effectiveness of monetary policy tools [13][14]. - It emphasizes the need for continuous reform of the Loan Prime Rate (LPR) to better reflect market conditions and prevent excessive fluctuations in the exchange rate [14]. - The report also highlights the importance of advancing financial market reforms and promoting the internationalization of the renminbi [14][15].

Group 1 - The core viewpoint emphasizes the shift in macroeconomic policy from focusing on high prices to managing low prices, supporting quality development over scale expansion, and preventing disorderly competition instead of monopolies [1][7] - The People's Bank of China (PBOC) is prioritizing consumption alongside investment to stimulate economic growth, as indicated in the recent monetary policy report [1][2] - The report highlights the need for a financial product and service system that aligns with consumer demand to enhance consumption and create a virtuous cycle between consumption and finance [2][3] Group 2 - The report indicates that the Chinese government's debt is manageable, with total assets equivalent to 166% of GDP and total liabilities at 75% of GDP, suggesting a strong fiscal position to support economic initiatives [4] - There is a call for fiscal policy to focus more on areas that have a direct impact on consumption, such as elderly care, childcare, and healthcare services [4][5] - The report notes that the government has increased fiscal support significantly, with local special bond issuance reaching nearly 1 trillion yuan in the first quarter, which has positively influenced investment and confidence [4] Group 3 - The report stresses the importance of balancing supply and demand to promote reasonable price recovery, addressing deep-seated structural issues in the economy [6][8] - Experts suggest that price levels are primarily determined by supply and demand dynamics, with monetary factors being secondary; thus, increasing money supply alone will not resolve low price levels [7] - The PBOC plans to implement a moderately loose monetary policy to ensure that the growth of social financing and money supply aligns with economic growth and price level expectations [8]