中证报中证网讯(记者王辉)12月4日晚间，畅力资产董事长、投资总监宝晓辉在做客中国证券报"中证点 金汇"直播间时表示，高度看好"情绪价值消费""新型消费"等消费趋势的持续性与投资价值，未来真正 有价值的消费趋势，必将源自年轻一代的消费偏好。 宝晓辉称，通过观察年轻人的消费习惯来理解消费变迁趋势，可以发现，每一代年轻人都有其代表性的 消费品牌。正如潮流玩具抓住了当下年轻人的心，对新消费投资的关键在于寻找下一个时代可能兴起的 消费产物。就年末布局而言，她表示，港股的一些潮玩龙头企业，经过本轮较大幅度回调之后，值得重 点关注。 ...

技术赋能让金融服务的适配性持续提升。依托多模态智能风控体系，海尔消金实现 "毫秒级审批响应"，新市民通过扫描海尔专卖店专属 二维码完成 OCR 认证与人脸识别后，3-5 秒即可完成商品贷款分期审批，支持在家、在店、在线三大交易场景灵活支付。这种数字化服 务能力，不仅让金融服务触达更广泛的新市民群体，更推动成交客单价提升 2.7 倍，有效牵引优质消费品供给升级。 《方案》提出到 2027 年培育 3 个万亿级消费领域的目标，其中 "推进以旧换新""扩大绿色智能供给" 等要求正通过企业实践加速落地。海 尔消金深化与地方政策的联动，将智家分期服务全面对接消费品以旧换新政策，覆盖冰箱、洗衣机、空调等补贴品类，让新市民在享受 国补的同时，叠加企业贴息优惠，双重红利持续激发消费活力。 在服务下沉方面，海尔消金依托产业城乡联动的服务网络，将金融服务延伸至县域及以下市场，打通普惠金融 "最后一公里"。这一举措 与《方案》"推动农村消费品提质升级" 的要求形成呼应，也契合行业专业人士提出的 "县域消费有望成为消费增长中长期动力" 的行业判 断。数据显示，其服务已覆盖全国多个省市的下沉市场，成为新市民从 "落脚城市" 到 "扎根 ...

Core Insights - The core message highlights the significant impact of the "trade-in" policy on consumer goods sales in China, with a total sales amount exceeding 2.5 trillion yuan and benefiting over 360 million people [1] Group 1: Sales Impact - The trade-in program for consumer goods has driven sales exceeding 2.5 trillion yuan from January to November this year [1] - The automotive sector saw over 11.2 million vehicles traded in, while home appliances accounted for over 12.844 million units [1] - Digital products, including mobile phones, received subsidies for over 9.015 million units, and electric bicycles saw over 1.291 million units traded in [1] Group 2: Policy Support - The Chinese government has allocated 300 billion yuan in special long-term bonds to support the trade-in program across four batches this year [1] - The acceleration of policy effects is fostering the development of new consumption patterns, particularly in digital and green sectors [1] Group 3: Industry Transformation - The trade-in initiative is promoting the green transformation of related industries, indicating a shift towards more sustainable consumption practices [1]

科技创新催生出的新产品、创造出的新场景等，给消费市场打开了一片新的蓝海。促消费，我们国家有一个很明显的优势，就是超大规模的市场优势。比 如，在我国，陪伴机器人的潜在市场需求就有近万亿。 央视网消息（焦点访谈）：最近，大家注意到，相关部门和一些地方又相继出台了一系列提振消费的新政策，来激发新活力。消费是中国经济增长的重要引 擎，特别是在外部环境不确定性增加的背景下，扩大内需、增强消费对经济的拉动作用至关重要。"十五五"规划建议中，大力提振消费也被置于更加突出的 位置，并提出一系列重大部署。那么，我国的消费市场有怎样的优势和潜力？怎么能更好地发挥消费引擎的作用呢？ 今年大热的AI玩具你玩儿过吗？融合了最新的大语言模型技术，这些玩具可以实现高度拟人化交互体验。通俗地说，就是它可以更好地与你互动。这些玩 具可不仅仅是给小朋友玩儿的，像是AI下棋机器人、AI陪伴机器人、AI宠物等也备受成年人欢迎。京东数据显示，2025年上半年，AI玩具销量同比增长超 200%，迅速成为消费市场的"新宠"。 我国有14亿多人口，已连续十余年稳居全球第二大商品消费市场和最大网络零售市场。2024年，社会消费品零售总额超过48万亿元，汽车、 ...

Core Insights - The rapid development of the ice and snow economy is highlighted by recent snow holidays in various regions, reflecting public expectations for boosting ice and snow consumption [1] - The ice and snow economy encompasses a comprehensive economic system based on ice and snow resources, including sports, culture, equipment, and tourism [1] - China's ice and snow industry is projected to grow from 270 billion yuan in 2015 to 980 billion yuan by 2024, with expectations to exceed 1 trillion yuan this year [1] - The number of registered ice and snow economy-related enterprises has increased by 9.1% year-on-year, indicating strong growth potential [1] Industry Development - The ice and snow economy is experiencing significant growth, with three new development tracks identified: domestic and intelligent equipment manufacturing, year-round and diversified venue operations, and digital and integrated services [2] - Challenges such as homogenized competition, weak industrial chains, and insufficient supporting services persist, necessitating targeted strategies for improvement [2] - Regions are encouraged to leverage local cultural characteristics to create distinctive ice and snow tourism brands and enhance the overall value chain [2] Consumer Engagement - Various promotional activities are being launched to stimulate ice and snow consumption, including free skiing offers and substantial consumption vouchers [3] - The integration of ice and snow sports with tourism and cultural products is essential to meet evolving consumer preferences for personalized and diverse experiences [3] - New consumption scenarios and products are being developed to amplify the impact of ice and snow sports as a new consumption driver [3] Economic Impact - The booming ice and snow economy is not only driving consumption but also optimizing and upgrading industrial structures [4] - A comprehensive product system for ice and snow equipment has been established, covering the entire industry chain [4] - Multiple provinces are incorporating ice and snow economy initiatives into their development plans, recognizing its potential as a key growth driver for domestic demand [4] - The integration of ice and snow economy with green and open economies is seen as a crucial strategy for fostering new consumption growth points [4]

专题：2025分析师大会：资本市场"奥斯卡"启幕 11月28日，2025分析师大会举行，专家学者、券商基金私募掌舵人、首席分析师等齐聚一堂，共寻穿越 周期的投资真谛。中泰国际首席经济学家李迅雷对即将开启的"十五五"规划进行深入解读。他表示，新 规划将以推动高质量发展为主题，科技自强、提振消费和全国统一大市场建设三大亮点尤为值得关注。 李迅雷指出，十五五规划的第二大亮点是要建设强大的国内市场，大力提振消费。他强调，当前所强调 的消费已非传统概念，而是更多与人口老龄化趋势和新生代消费习惯相适应的新型消费。 他通过数据对比阐明，中国的人均消费量已超过西方，且传统消费规模本身已在收缩。以白酒为例，中 国消费量从十年前的1500万吨降至目前的400万吨。因此提振消费需聚焦新方向。 李迅雷特别指出，消费对GDP贡献度的提升将是一个"被动"趋势。其依据是，财政补贴社保的支出占比 持续攀升，从2013年的5.3%增至2023年的8.8%，预计2030年将达12%，规模约4万亿元。这一数据意味 着，由人口结构变化所驱动的经济转型，将自然而然地提升消费在GDP中的比重。 他认为，这一趋势引出的关键议题在于哪些领域将涌现巨大消费需 ...

供需适配，需要精准匹配不同人群需求。以养老为例，我国已经进入中度老龄化社会，截至2024年年 末，全国60周岁及以上老年人口达到3.1亿，占总人口的22.0%。这3.1亿老年人日常生活所需要的适老 用品和服务，如适老家电、适老家具、老人鞋服、成人纸尿裤、老人护理、老年旅居等，市场是否已经 有丰富的供应让老人放心选择？这样的问题不仅在老年消费领域，从全社会来看，幼儿、学生、年轻人 等等，每一个细分群体背后都隐藏着尚待满足的需求，也隐藏着千亿级甚至万亿级的新增市场。 在国内新旧动能转换的过程中，部分领域供需结构性错配问题不可避免。持续优化供给侧结构，促进供 需衔接，推动更多优质消费品进入百姓生活，是满足人民美好生活需要的必经之路，也是建设国内强大 市场的应有之义。《实施方案》通过聚焦供给侧结构性改革，加速品牌引领、标准升级和新技术应用， 提出"3个万亿级消费领域和10个千亿级消费热点"，有望引导企业生产实现由"生产更多"向"生产更 对""生产更好"的转变，进一步拓宽中国超大规模市场空间。（央广财经评论员 邵蓝洁） 责编：秦雅楠、姚凯红 临近年底，促消费再迎重磅政策。11月26日，工业和信息化部、国家发展改革委等六 ...

Core Insights - The Chinese government has introduced a significant policy to boost consumption, focusing on enhancing the adaptability of supply and demand through a comprehensive implementation plan with 19 key tasks aimed at promoting a two-way economic cycle [1][2] Group 1: Policy Overview - The implementation plan was jointly released by six government departments, including the Ministry of Industry and Information Technology and the National Development and Reform Commission [1] - The plan emphasizes the importance of matching consumer demand with production, highlighting the need for quality products that meet market needs [1] Group 2: Market Potential - China is the world's second-largest consumer market, with the largest middle-income group, indicating substantial growth potential in consumption [1] - The rise of new technologies such as artificial intelligence and virtual reality is accelerating the emergence of new consumption patterns, creating opportunities for market expansion [1] Group 3: Demographic Insights - By the end of 2024, the elderly population in China is projected to reach 310 million, accounting for 22% of the total population, indicating a growing market for elderly care products and services [2] - There is a significant unmet demand across various demographic groups, including children, students, and young adults, suggesting potential for multi-trillion market opportunities [2] Group 4: Supply-Side Structural Reform - The implementation plan aims to address structural mismatches in supply and demand, promoting the entry of high-quality consumer goods into everyday life [2] - The focus is on supply-side structural reform, encouraging brand leadership, standard upgrades, and the application of new technologies to enhance production quality [2]

随着社会发展，人们的消费需求不再局限于物质层面，精神文化方面的需求日益凸显。义乌市茗谭贸易 有限公司四川分公司新型消费不仅在物质消费上带来新体验，也为精神文化产品的发展搭建了平台。它 是消费市场升级的重要驱动力，也是满足人们对美好生活向往的关键途径。新型消费在当下经济社会发 展中扮演着关键角色。它是技术进步与社会观念转变的产物，涵盖多种消费类型，适应了人们不断变化 的需求。 当 Z 世代崛起为消费主力军，他们的消费追求已不局限于商品本身，更看重附着其上的情感价值、科 技赋能与绿色理念。义乌市茗谭贸易有限公司四川分公司青年消费新力量，犹如一股创新的浪潮，激活 着中国经济的每一处角落，让市场与年轻的活力同频共振。"质价比" 更高的新品不断涌现，成功引爆 市场。"人工智能 + 消费" 的场景也持续突破边界，从国潮文创到绿色出行，青年人的消费清单正描绘 出一幅时代新图景。 例如，在国潮文创领域，Z 世代对传统文化的热爱与创新精神相结合，让国潮产品成为市场新宠。义乌 市茗谭贸易有限公司四川分公司这些产品不仅具有实用价值，更承载着深厚的文化内涵，满足了年轻人 对精神文化的追求。再如绿色出行，随着环保意识的增强，Z 世代更 ...

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]