Core Viewpoint - Shanghai's government has launched a comprehensive action plan to boost consumption, which is expected to positively impact the city's consumer market [1][2]. Group 1: Consumption Support Policies - The action plan outlines six major initiatives aimed at enhancing consumer spending, including income growth for residents, support for consumption capacity, upgrading service consumption, promoting large-scale consumption updates, fostering new consumption types, and improving the consumption environment [2][3]. - The plan emphasizes the cultivation of new consumption types, particularly through the integration of technologies like artificial intelligence and virtual reality, as well as expanding offerings for senior consumers and enhancing self-care consumption [2][3]. Group 2: Employment and Income Measures - The action plan includes measures related to employment, skills training, and income growth, addressing consumer confidence and reducing concerns about spending [3]. - These measures are expected to significantly boost local consumption by providing a safety net for consumers [3]. Group 3: Trade-in Policies - The plan promotes a "large-scale consumption update action," which includes expanding trade-in programs for consumer goods, particularly in the automotive sector, and implementing subsidies for vehicle replacements [4][5]. - The trade-in policies have shown positive results, with significant increases in automotive sales and consumer engagement in the trade-in programs [4][5]. - In 2024, the trade-in policies are projected to stimulate over 6.8 million vehicle exchanges, with an expected total vehicle sales of around 32 million in China [4]. Group 4: Home Appliances and Digital Products - The action plan also supports the home appliance sector through trade-in incentives, with optimistic projections for domestic sales in 2025 [5]. - The implementation of trade-in policies in Shanghai has resulted in substantial financial support, with over 1.8 billion yuan in subsidies leading to approximately 12 billion yuan in related product sales [5].

Core Viewpoint - Guangdong has introduced a series of policy measures aimed at promoting the high-quality development of its online audio-visual industry, focusing on enhancing its competitive advantages nationally and addressing existing challenges in the industry [1][2]. Group 1: Policy Measures - The measures consist of nine initiatives that include increasing financial support, enhancing industrial park development, improving quality content supply, accelerating the layout of the entire industry chain, and fostering the integration of culture and technology [1]. - Specific goals include establishing Guangzhou as the "Global Network Live Streaming Capital" and Shenzhen as the "Global Smart Audio-Visual Innovation Capital," while also supporting the development of differentiated provincial audio-visual parks in various cities [2]. Group 2: Industry Challenges - Despite being a stronghold in the online audio-visual sector, Guangdong faces challenges such as insufficient collaboration across the industry chain, inadequate agglomeration effects in industrial parks, and limited synergy within the Greater Bay Area [1][2]. Group 3: Innovation and Technology Integration - The measures emphasize the integration of culture and technology, encouraging original technological breakthroughs and the application of AI and virtual reality in smart broadcasting, thereby enhancing the appeal and dissemination of online audio-visual works [2][3]. Group 4: Regional Collaboration and Global Positioning - The establishment of a Greater Bay Area audio-visual industry alliance and a digital asset trading service platform is planned to enhance regional collaboration and international competitiveness [3]. - The initiative aims to create a network live streaming economic belt in Guangdong, leveraging its historical trade significance and international platforms like the Canton Fair to attract leading live streaming e-commerce platforms [3].

【环球网财经综合报道】上海市人民政府办公厅于5月21日正式发布《上海市提振消费专项行动方案》 （简称《专项行动方案》），部署了六大行动方案及完善支持政策等共32项措施，为进一步激发消费潜 力，推动经济高质量发展。 《专项行动方案》聚焦城乡居民增收、消费能力保障、服务消费提质升级、大宗消费更新、新型消费培 育和消费环境提升六大领域，全面发力提振消费市场。 城乡居民增收行动方面，《专项行动方案》明确提出实施就业优先战略，推进技能培训教育提质增效， 并落实重点领域就业支持计划。同时，完善工资决定机制，引导工资分配向基层一线劳动者倾斜，增加 适合个人投资者投资的债券相关产品，以促进收入合理增长。 消费能力保障支持行动方面，《专项行动方案》部署了加大生育养育保障力度、优化养老服务供给等措 施。落实上海市建设生育友好型社会的若干措施，加快出台育儿补贴和产假社保补贴政策，探索增加育 儿假和配偶陪产假。健全养老金融服务保障体系，制定相关方案以推动银发经济高质量发展。 服务消费提质升级行动方面，《专项行动方案》要求打造文化消费高地，大力发展演艺经济，支持举办 具有影响力的大型演艺活动，并持续引进中外经典剧目。推动文旅商体展深度 ...

【要闻报道】 美债要崩？20年期美债拍卖遇冷 需防范抛售潮对全球市场的冲击风险 自穆迪下调美国主权信用评级以来，美债市场走势牵动人心。北京时间5月22日凌晨，20年期美债标售 以相对惨淡的结果落下帷幕。本次拍卖的最终得标利率为5.047%，这是20年期美债拍卖的收益率第二 次突破5%大关。得标利率较预发行利率5.035%高出约1.2个基点，创下去年12月以来的最大尾部利差。 疲软的投标倍数也引发关注，本次拍卖的投标倍数为2.46，是自2月以来的最低水平。 点评：分析认为，本次拍卖虽称不上"灾难性"，但其糟糕程度足以推高美债收益率。叠加减税法案扰 动，20年期美债收益率日内最高升至5.127%，30年期美债收益率也重新突破5%大关。 实施"六大行动"！上海发布提振消费专项行动方案 为贯彻落实党中央、国务院关于大力提振消费的决策部署，深化国际消费中心城市建设，切实发挥消费 对经济发展的基础性作用，近日，市政府办公厅印发《上海市提振消费专项行动方案》。《行动方案》 提出"城乡居民增收、消费能力保障支持、服务消费提质升级、大宗消费更新、新型消费培育、消费环 境提升"等六大行动和第七部分的"完善支持政策"。 点评：在新 ...

Market Overview - The U.S. stock market experienced a significant decline, with all three major indices posting their largest drop in a month. The Dow Jones fell by 1.91%, the Nasdaq decreased by 1.41%, and the S&P 500 dropped by 1.61% [3] - Major technology stocks also saw declines, with Tesla and Apple each dropping over 2%, while Microsoft, Amazon, and Nvidia fell more than 1%. In contrast, Google saw an increase of nearly 3% [3] Economic Indicators - The yield on the 30-year Treasury bond rose to 5.09%, while the yield on the benchmark 10-year Treasury increased by 11.5 basis points to 4.59%. The 2-year Treasury yield also rose by 4.7 basis points to 4.01%, indicating a close relationship with interest rate expectations [3] Policy Measures - A joint announcement from several Chinese financial regulatory bodies outlined 23 measures to support financing for small and micro enterprises, focusing on increasing financing supply, reducing costs, and improving efficiency [4] - The Shanghai government released a special action plan to boost consumption, emphasizing the integration of advanced technologies like AI and big data into consumer sectors [5] Corporate Actions - Guokai Micro announced plans to acquire assets through a combination of stock issuance and cash payment, focusing on semiconductor wafer foundry and customized chip manufacturing, which is expected to constitute a major asset restructuring [7] - Vanke A signed a borrowing agreement with Shenzhen Metro Group for up to 4.2 billion yuan, using up to 6 billion yuan worth of stock as collateral [8] - Myp Medical is planning to acquire at least 51% of Easy Medical, which is expected to constitute a major asset restructuring [10] - Hongming Co. is planning to purchase 83% of Shenzhen Chisu Automation Equipment for an estimated 151 million yuan, which will also constitute a major asset restructuring [12]

Group 1 - The Shanghai Municipal Government has issued a plan to boost consumption, focusing on trade-in programs for consumer goods, particularly in the automotive and home appliance sectors [1] - The plan includes measures to enhance housing consumption, such as accelerating the development of a new real estate model and increasing the supply of affordable rental housing, especially for young people [1] - The proposal aims to support residents' housing needs through tax policies and the expansion of housing provident fund usage [1] Group 2 - The plan emphasizes the cultivation of new consumption patterns, particularly in digital consumption, by promoting the application of technologies like artificial intelligence and big data [2] - Various regions in China are implementing measures to stimulate new consumption, with a common focus on artificial intelligence and innovative retail formats [2] - Financial analysts note that the integration of artificial intelligence into the consumption system is crucial for driving domestic demand and upgrading consumption structures [3]

Core Viewpoint - The Shanghai Municipal Government has launched a "Special Action Plan to Boost Consumption" aimed at transforming the economic development model and enhancing the role of consumption in economic growth [1] Group 1: Enhancing Consumer Capacity - The plan prioritizes enhancing consumer capacity by focusing on stabilizing employment, improving skills, and increasing income to stimulate consumer willingness [5] - An employment-first strategy will be implemented, including support plans for key sectors and small businesses, as well as one-time job expansion subsidies [5] - Skills training will be improved in key industries such as AI and elderly care, with policies to enhance vocational skills and support for high-skilled talent development [5] - Measures will be taken to promote reasonable income growth, including collective wage negotiations and improved wage distribution mechanisms [5] Group 2: Targeting Potential Consumption - The plan aims to improve the quality of consumption supply, focusing on service consumption, bulk consumption, and new consumption types [7] - In service consumption, initiatives include developing cultural consumption, supporting major performance events, and enhancing tourism and sports event economies [7] - For bulk consumption, policies will support trade-in programs for vehicles and appliances, as well as new subsidies for digital products [8] - New consumption will be fostered through the application of advanced technologies like AI and VR, and by catering to the elderly demographic with tailored services [8] Group 3: Strengthening Policy Coordination - The plan emphasizes the coordination of consumption policies with macroeconomic policies to ensure consistency and effectiveness [10] - A three-year action plan will be implemented to optimize the consumption environment, including improved consumer rights protection and efficient complaint handling mechanisms [10] - Statistical monitoring will be established for service consumption, silver economy, and new consumption models to support data-driven policy adjustments [10]

5月21日，上海市人民政府办公厅正式发布《上海市提振消费专项行动方案》（以下简称：《行动方案》）， 推出提振消费六大行动，旨在切实转变经济发展方式，进一步增强消费对经济增长的拉动作用。 提振消费，上海行动! 《行动方案》还把提升消费供给质量作为主攻方向，推动服务消费、大宗消费、新型消费提质升级，让居民 既"拥有更多"，也"体验更好"。 激发居民消费意愿 《行动方案》把提升消费能力放在优先位置，着力稳就业、提技能、增收入，激发居民消费意愿。 一是实施就业优先战略。落实重点领域、重点行业、城乡基层和中小微企业就业支持计划，稳定和扩大就业规 模。实施一次性扩岗补助政策。统筹用好各类政策资金促进就业，将稳岗扩岗作为奖励、补贴的重要因素。统 筹优化高校毕业生等青年群体就业支持政策，加大就业、创业和安居支持力度。 二是推进技能培训教育提质增效。实施人工智能、智能制造、家政服务、养老护理等重点行业技能人才培养计 划。以促就业稳就业为导向，完善职业技能提升补贴政策。加强新职业标准开发，畅通高技能人才与专业技术 人才职业发展通道。加快优化高校学科布局，推进应用型人才培养改革试点等。 三是多措并举促进收入合理增长。积极推行工资集 ...

Core Viewpoint - The Shanghai Municipal Government has launched a comprehensive action plan to boost consumption, focusing on various sectors and technologies to stimulate economic growth [1][2][3]. Group 1: Consumption Boosting Measures - The action plan includes 32 specific measures aimed at enhancing consumption, such as implementing a "trade-in" program for consumer goods and promoting the use of technologies like AI and big data in the consumption sector [1][2]. - There is a strong emphasis on promoting automotive consumption through subsidies for vehicle scrapping and replacement, as well as expanding the scope of the "trade-in" program to include digital products [2][3]. - The plan aims to cultivate advanced digital consumption by organizing high-profile events in the AI sector and developing applications for emerging technologies [2][3]. Group 2: Support for Small and Micro Enterprises - A joint initiative by several financial regulatory bodies has been introduced to improve financing conditions for small and micro enterprises, outlining 23 specific measures [4][5]. - Key measures include increasing financing supply, reducing overall financing costs, and enhancing the efficiency of financing processes [5][6]. - The initiative also focuses on providing targeted financial support to specific sectors, such as foreign trade and innovative small businesses, while ensuring regulatory compliance and risk management [6]. Group 3: Real Estate Development - The action plan proposes a new model for real estate development, emphasizing the construction of safe, comfortable, and environmentally friendly housing [3]. - It includes plans to expand the supply of affordable rental housing, particularly for young people, and to support residents' housing needs through favorable tax policies [3].

上海市提振消费专项行动方案：加快完善低空经济监管体系 持续拓展场景应用 智通财经5月21日电，上海市人民政府办公厅印发《上海市提振消费专项行动方案》。其中提到，培育 前沿数字消费。推动人工智能、虚拟现实、大数据等技术在消费领域深化应用。举办人工智能领域高规 格展、会、赛等活动，打造一批"人工智能+消费"场景。加快完善低空经济监管体系，持续拓展场景应 用。推动超高清视听高端芯片、超高清显示等关键共性技术研发转化，落实脑机接口未来产业培育方 案，深入开展具身智能场景对接和高质量孵化器建设等，持续探索前沿技术在消费领域的应用。 ...