Group 1 - Shantou has introduced the "Shantou City 2025 Stable Growth Policy Measures," which includes 28 policy measures across seven areas to support industrial development and boost corporate confidence [1] - The city will implement investment initiatives, including a targeted incentive of 20 million yuan for districts and functional areas that achieve expected fixed asset investment and rank in the top three for project completion [1] - For industrial enterprises that achieve "scale-up" for the first time, a subsidy of 200,000 yuan will be provided, with additional incentives for maintaining a growth rate of over 10% in industrial added value [1] Group 2 - To stimulate consumer activity, Shantou will implement promotional actions, including the establishment of the "Jinshan Tianhua" city-level consumption brand and hosting over ten themed home appliance promotional events [2] - The city plans to promote the cultural and tourism market by organizing a series of activities, including specialty food events and exploring new models like "factory direct purchase + industrial tourism" [2] - Support will be provided for industries such as food, toys, textiles, and home appliances to expand their market presence [2]

Group 1: Policy Signals - The April Politburo meeting emphasized "stabilizing employment, economy, market, and expectations" amid external risks, marking a shift towards high-quality development and proactive policy adjustments[1] - The government plans to implement flexible and unconventional policies based on changing circumstances, focusing on timely incremental reserve policies and counter-cyclical adjustments[1] Group 2: Employment and Market Stability - The April 28 press conference highlighted coordinated efforts to stabilize domestic demand and employment, with initiatives like "trade-in" subsidies and support for service consumption[2] - The May 7 press conference focused on stabilizing the stock and real estate markets, including measures like lowering public housing loan rates by 0.25 percentage points and increasing long-term capital market participation[2] Group 3: Incremental Policies and Financial Support - The 90-day tariff "grace period" serves as a crucial window for implementing existing policies and preparing incremental measures, with strong export performance expected to continue into May[3] - The central bank's recent policies, including comprehensive reserve requirement cuts and structural monetary policy rate reductions, aim to lower commercial banks' funding costs and facilitate loan rate reductions[3] Group 4: Fiscal Policy and Revenue Trends - In Q1, broad fiscal revenue fell by 2.6% year-on-year, below the initial target of 0.2%, while fiscal expenditure increased by 5.6% due to government debt financing[4] - The issuance of local government bonds is expected to accelerate, with new special bonds projected to grow by 36.5% compared to Q1[4] Group 5: Future Focus Areas - If tariff negotiations progress positively, future policies may shift towards long-term institutional reforms and structural support, emphasizing consumer relief and income growth as key drivers for consumption[5] - Service consumption recovery remains critical, with current levels at only 87.7% of historical trends, indicating significant potential for policy-driven growth[5]

Group 1: Policy Tracking - The Central Political Bureau meeting emphasized the importance of "doing our own things well" and highlighted "stabilizing employment" as a priority in the face of external risks [1][2] - The meeting called for rapid implementation of established policies, indicating that the speed of policy rollout will increase following the Two Sessions [2] - The focus will be on high-quality development and internal stability, with a flexible and unconventional policy approach expected to address economic data fluctuations [1][3] Group 2: Employment and Economic Stability - The government is implementing measures to expand employment opportunities, focusing on traditional sectors and new growth areas, with a central budget allocation of 667 billion yuan to support these initiatives [6][8] - Specific measures target key groups such as college graduates, migrant workers, and those in difficulty, with policies including job subsidies and training support [6][7] - The employment public service system is being enhanced to better match job seekers with available positions through targeted recruitment and skills training [7][8] Group 3: Technological Innovation - The government aims to establish a globally influential technology innovation hub, with a focus on artificial intelligence and high-end industry leadership [10][11] - Emphasis is placed on enhancing the national innovation system, promoting original innovation capabilities, and addressing key core technologies [11][12] - The integration of technology and industry is prioritized, with a call for a comprehensive approach to developing new productive forces [11][12] Group 4: Financial Support for SMEs - The People's Bank of China and financial regulatory authorities are working to improve financing services for small and medium-sized enterprises (SMEs) through standardized supply chain finance practices [14][15] - New regulations aim to ensure timely payments to SMEs and prevent core enterprises from abusing their positions [14][15] - The focus is on creating a supportive environment for SMEs to thrive, with measures to enhance credit risk management and promote diverse financing models [14][15] Group 5: Market Access and Regulatory Reform - The National Development and Reform Commission is launching a six-month campaign to clear market access barriers, addressing issues such as local approvals and regulatory inconsistencies [16][17] - The initiative aims to create a unified national market by eliminating unnecessary restrictions and improving the transparency of approval processes [16][17] - Public participation is encouraged in identifying and reporting barriers to market access, enhancing accountability and regulatory efficiency [16][17]

Group 1 - The core viewpoint of the news is the introduction of a comprehensive set of financial policies aimed at stabilizing the market and expectations in response to external economic pressures, particularly from tariffs and declining export orders [1][2][3] - The newly established monetary policies include a 500 billion yuan service consumption and pension relending facility and a risk-sharing tool for technology innovation bonds, which are designed to address external demand disturbances and promote long-term growth through innovation [1][2] - The financial policies focus on stabilizing the stock and real estate markets, which are crucial for macro-prudential management, as they can help boost consumption and mitigate declines in real estate investment [2][3] Group 2 - The capital market policies include an action plan to promote the high-quality development of public funds, addressing the disconnect between fund managers' income and performance, and shifting the focus from scale to returns [2][3] - The need for coordinated economic cycles is emphasized, as any lag in one area can negatively impact the overall economic structure, highlighting the importance of a "package" approach to policy implementation [3][4] - The current macroeconomic policies are in a state of counter-cyclical adjustment, with the expectation of further fiscal policies to support livelihoods and expand investments, enhancing the sense of security among micro-entities [4]

5月6日，诸城市政府召开新闻发布会，正式发布《诸城市购房消费券发放实施办法》，推出总额4000万 元的购房消费券，旨在通过"真金白银"的惠民举措提振住房消费，促进房地产市场平稳健康发展。 本次购房消费券面向购买诸城新建商品住宅的所有购房者，首次置业的刚需家庭与改善型住房需求市民 均可通过官方平台"房欣购"小程序参与申领。消费券分五批次发放，首批将于5月10日12:00-14:00限时 上线，后续每月发放一次，每次投放200张，单张面值4万元。购房者可通过"安居龙城""今日诸城、诸 城融媒"公众号、各参与楼盘售楼处及住建局政务服务窗口四大渠道进入申领平台。成功申领后，需在3 个工作日内至市政务服务中心兑换纸质消费券，券面有效期20天，过期未使用自动失效。 经企业自愿申报、政府严格筛选，本次活动确定17家企业旗下21个楼盘参与，具体包括：山钢.舜德 府、东鲁文苑、阳光.海棠湾、金栗福地、范阁园、盛元名府、恒信龙栖府、恒信风华尚品、恒信潍水 春风、书香府郡、君和君泰、万家苑、君华.香柏国际、新东苑名邸、金源府邸、芦山家园、长运.玺悦 府、正大繁华新城(南区)、润东.华府壹号、红星家园.E区、红星家园.老年社区。 政 ...

据了解，自2月1 7日民营企业座谈会以来，中国银行已对座谈会参会企业和5 0 0强民企中泛科 技客户开展营销调研、邀约客户座谈、组织编写优秀服务案例等一系列的营销和对接活动， 并于3月1 2日举办全国工商联-中国银行民营企业座谈会及中国银行支持民营企业高质量发展 暨共建"一带一路"服务方案发布会。 4月29日，中国银行公布一季度业绩。数据显示，截至3月末，中国银行资产总额35.99万亿元，较年初 增长2.64%；负债总额33.02万亿元，较年初增长2.84%，业务规模平稳增加。实现营业收入1,649亿 元，同比增长2.41%；实现税后利润586亿元，财务效益保持稳健。净息差1.29%，平均总资产回报率 （ROA）0.66%，净资产收益率（ROE）9.09%，成本收入比26.17%，主要指标保持合理区间。 国有大行是实体经济的"稳定器"和"压舱石"。对于包括中国银行在内的国有大行而言，稳健 的经营业绩是"成绩单"的一面，"成绩单"的另一面，是服务实体经济、服务国家战略的具体 行动。随着一季报发布，中国银行以金融力量助力稳经济的具体行动进一步显现。 促消费的"先锋军" 消费是拉动经济增长的主引擎。今年的《政府工作 ...

以下文章来源于申万宏源宏观 ，作者赵伟 贾东旭 等 申万宏源宏观 . 申万宏源证券研究所 | 宏观研究部 作者： 赵 伟 申万宏源证券首席经济学家 贾东旭 高级宏观分析师 侯倩楠 宏观分析师 联系人： 贾东旭 报告正文 事件：4月28日，国新办举行新闻发布会，介绍稳就业稳经济推动高质量发展政策措施。 稳内需、稳就业相辅相成。促消费政策侧重改善服务消费供给，稳投资侧重既有政策落地 消费方面，除了继续拨付消费品以旧换新补贴资金外，政策后续还将通过建立育儿补贴制度、创设专项再 贷款工具等多维发力。 发改委副主任赵辰昕透露第二批以旧换新补贴资金已拨付到位，后续仍有1400亿元 待分配额度。服务消费方面聚焦供给侧，央行副行长邹澜表示"着重从服务消费供给侧发力，聚焦文旅体 育、餐饮住宿、教育培训等重点领域，加大金融支持力度"，预计配套再贷款工具将加快落地。值得关注的 是，赵主任明确表示"将建立实施育儿补贴制度"，此举既可稳定人口长期趋势，又能短期提振相关消费。 投资方面，政策着重加快项目落地，通过政策性开发性金融工具破解资本金缺口问题。 本本次发布会实质 是对4月政治局会议决策的深化落实：一方面，发改委提出"力争6月底前 ...

国新办举行新闻发布会，介绍稳就业稳经济推动高质量发展政策措施有关情况。央行副行长邹澜表示， 适时降准降息，保持流动性充裕；将发挥好货币政策工具箱总量和结构双重功能，适时推出增量政策。 国家发改委表示，将建立和实施育儿补贴制度，创设专项再贷款工具、加大对服务消费重点领域和养老 产业发展的支持；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；力争 6 月底前要下达 2025 年 " 两重 " 建设和中央预算内投资全部项目清单。 国内商品期货夜盘收盘普遍下跌，国际贵金属期货普遍收涨。 重点品种： 股指、贵金属、集运 股指： 美国三大指数涨跌不一，上一交易日股指回落为主，银行板块领涨，房地产板块领跌，全市成 交额 1.08 万亿元，其中 IH2505 下跌 0.08% ， IF2505 下跌 0.21% ， IC2505 下跌 0.53% ， IM2505 下跌 0.95% 。资金方面， 4 月 25 日融资余额减少 54.02 亿元至 17914.72 亿元。从本次关税争端风波来看上 证 50 和沪深 300 走势更为坚挺，这两个指数里的内需比重比较高，若后续中美间争端持续，受影响程 度会相对 ...

商务部副部长盛秋平表示，将推出细化举措，进一步增强消费对经济增长的拉动作用，以强大的国内市 场更好应对外部风险挑战。一是扩围提质实施消费品以旧换新，二是推动汽车流通消费改革，三是实施 服务消费提质惠民行动，四是举办"购在中国"系列活动。 当前，消费品以旧换新取得了积极成效。截至4月27日24时，全国汽车以旧换新281.4万辆，12类家电以 旧换新4941.6万台，手机等数码产品购新3785.5万件，家装厨卫"焕新"4090.6万件，电动自行车以旧换 新超420万台，合计拉动销售额超7200亿元。 对企业加大扩岗支持 人力资源社会保障部副部长俞家栋表示，将加快推出增量政策，对企业加大扩岗支持，对个人加大就业 补贴支持，对受关税影响较大的企业提高失业保险稳岗返还比例等。对已出台的存量政策要全面落实， 加快兑现稳岗返还、担保贷款、就业补贴，延续实施降低失业和工伤保险费率。 （上接1版） 扩内需政策将在二季度加快落地 赵辰昕表示，提振消费专项行动、用好今年国家层面5万亿元投资资金、加快设立国家创业投资引导基 金等政策大部分将在二季度落地。 据悉，在提振消费方面，近期已经下达了今年第二批消费品以旧换新资金，前两批一共下 ...

Group 1 - The central government is focusing on stabilizing employment, enterprises, markets, and expectations through various measures [1][2] - The National Development and Reform Commission (NDRC) will introduce several initiatives aimed at supporting employment, stabilizing foreign trade, promoting consumption, expanding investment, and creating a favorable environment [2][3] - Specific measures include encouraging companies to maintain employment, enhancing vocational training, and providing public employment services [2][6] Group 2 - Policies to boost domestic demand will accelerate implementation in the second quarter, including a special action to stimulate consumption and the establishment of a childcare subsidy system [4][5] - The government has allocated over 160 billion yuan for consumption incentives, with plans to issue additional funds based on local payment progress [4][5] - The automotive industry has seen significant activity, with over 2.81 million vehicles exchanged under the trade-in program, contributing to sales exceeding 720 billion yuan [5] Group 3 - Employment figures remain stable, with 3.08 million new urban jobs created in the first quarter, and the urban unemployment rate averaging 5.3% [6] - The government plans to enhance support for companies to expand job positions and provide increased employment subsidies [6][7] - Measures to assist foreign trade enterprises include integrating domestic and foreign trade reforms and enhancing trade finance support [7]