2月24日，丙午马年A股将迎来首个交易日。春节假期期间，全球市场平稳运行，国内消费、文旅、出 行数据持续回暖，叠加政策暖风与资金共振，多家头部券商密集发布研报，一致对马年A股持乐观审 慎、结构性慢牛判断，认为市场将从估值驱动转向盈利驱动，科技成长与内需复苏双轮驱动，春季躁动 行情值得期待。 马年"慢牛"行情有望延续 据Wind数据，近十年春节假期后A股首个交易日，上证指数、创业板指上涨概率均达六成，节后"日历 效应"显著。主流券商对马年A股大势判断高度统一，"长牛""慢牛"成共识，整体走势或呈现平稳开局、 震荡上行、前稳后高的趋势。 东吴证券表示，历史上A股"春节效应"特征显著，节后资金有望"重振旗鼓"带动量价共振修复，A股有 望迎来积极开局。产业趋势层面，机器人、国产大模型在内的科技主线在假期期间持续发酵。后续来 看，两会临近将进一步强化市场维稳预期，白宫官员确认特朗普拟于3月底访华，有助于稳定市场对外 部环境预期。对于节后A股市场表现持乐观判断。 中信证券判断，A股盈利增速将呈现前低后高走势，上半年以估值修复为主，下半年随经济回暖与政策 落地进入业绩兑现阶段。外部环境趋于稳定，内部政策持续发力，市场风险偏 ...

来源：决策杂志 01 连续第五年召开 先来说说"新春第一会"。 "新春第一会"是指春节假期后开工第一天召开的大会，旨在擂起催征鼓、吹响冲锋号，动员全省上下开 局即冲刺、全年都加力，在开局之时干出开局之势，在关键之年干出关键之为，奋力推动高质量发展。 从时间上来看，安徽已连续四年召开过"新春第一会"，凸显了连续性。 明天（2月24日）正月初八上午，马年春节后的首个工作日，安徽将召开"新春第一会"。 这是安徽连续第五年召开"新春第一会"。 安徽为何连续多年召开这一重磅大会？今年又将聚焦什么主题？ 2022年2月7日，安徽首次召开"新春第一会"—全省改进工作作风为民办实事为企优环境大会。 2023年1月28日，会议主题是发扬自我革命精神，坚持严的基调持续深化"一改两为"，全面提升工作效 能。 2024年2月18日，主题是创建一流营商环境暨推进民营经济高质量发展大会。 2025年2月5日，主题为科技创新引领新质生产力发展，聚焦创新驱动战略，部署全年高质量发展任务。 2026年2月24日，安徽第五次"新春第一会"将如约而至，是此项重要工作机制的持续。 从重要性来看，"新春第一会"往往具有"风向标"意义，不仅是工作动员令 ...

Policy Direction - The policy emphasizes "stability while seeking progress" and aims for a good start to the "14th Five-Year Plan" with a focus on counter-cyclical adjustments and short-term economic stability, warning against "policy dependency" without reform support[1] - Investment should not follow the old path of "rapid expansion" but focus on the real economy and technological innovation, with an emphasis on improving people's livelihoods and human resource development[2] Investment and Consumption - The government plans to optimize the implementation of "dual heavy" projects and increase central investment subsidy standards, while enhancing the management of local government special bonds to boost project construction[2] - There is a commitment to increase basic pensions for urban and rural residents and to release potential in service consumption sectors such as tourism, events, dining, and health care[3] Market Competition and Industry Development - Measures will be taken to regulate "involution-style" competition through a list of encouraged and prohibited items for local government investment, aiming to create a fair market order[3] - The focus will be on developing emerging pillar industries such as integrated circuits, aerospace, and biomedicine, while emphasizing the importance of artificial intelligence as a key variable[4] Risk Management - The report highlights the need to manage risks in key areas, including supporting reasonable financing needs of real estate companies and preventing debt default risks[9] - It calls for optimizing debt restructuring and replacement methods to mitigate risks associated with local government financing platforms[10]

据国家能源局消息，国家能源局规划司司长任育之表示，科技创新为新质生产力发展注入更强动能。从 国际看，世界主要国家加强能源科技战略布局，能源科技创新进入密集活跃期，主要国家加大氢能、固 态电池、先进核电、海洋能等前沿技术研发应用，人工智能成为重塑国际能源格局的新变量，有望驱动 能源生产、传输和消费方式系统性变革。从国内看，我国能源科技总体进入并跑为主、部分领跑的关键 阶段，一大批新技术新产业蓬勃兴起，新能源、新型储能等技术保持世界领先。但与此同时，仍面临原 始创新能力不足、部分关键核心技术和装备存在短板、产学研用协同创新有待加强等问题。 ...

春节假期最后一天港股的亮眼表现，令机构们对A股马年"开门红"充满期待。 "2026年的春晚是AI含量浓度最高的一年，也是AI应用的重要分水岭与节点。"华鑫证券传媒新消费首席 分析师朱珠在研报中称，AI未来的竞争将更加激烈，各家将持续推出新模型、新产品，春节后的AI板 块有望持续演绎，传媒有望承接AI应用新红利。 机构普遍指出，春节后A股科技行情的驱动核心主要来自两方面：一是节后将迎来政策的密集落地，例 如"人工智能+"、数字经济发展规划等节后预期将加速推进；二是美股与港股的映射效应显著，春节期 间海外市场表现强势的科技板块，节后通常能带动A股相关标的走强。 此外，春节后短期市场风格往往向科技成长倾斜。据华金证券统计，春节后5或10个交易日内科技成长 行业走势相对占优。近10年内春节后5个交易日内涨幅进入前三次数最多的行业主要为计算机（5次）、 电子（4次）、通信（3次）、传媒（3次）等科技成长行业，春节后10个交易日内的涨幅榜也由科技成 长行业主导。 2月23日，恒生指数、恒生科技指数双双走强。截至收盘，恒生指数上涨2.53%，报27081.91点；恒生科 技指数涨3.34%，报5385.35点。港股科技股、 ...

th 7 R t 新华财经上海2月23日电（记者杜康）春节长假临近尾声，今年春节档拥有9天"史上最长假期"的加持，给消费注入十足动力。来自部分沪市公司的数据显 示，今年春节期间出行、票房等数据都释放了积极信号，同时，文旅、白酒、食品等公司也借助"年味"加速文旅融合或强化互动，助力消费"开足马力"。 从机场"热力图"到影院"人气榜" 节日消费数据迎来"开门红" 春节长假期间，机场客流量持续增长。2月20日，上海机场单日客流量达到42.49万人次，其中浦东机场27.57万人次、虹桥机场14.92万人次，同比增长 6.4%，创下历史新高，迎来新年"开门红"。上海机场预计，今年春运期间，上海浦东、虹桥两场的航班量将达到9.6万架次，同比增长1.9%；旅客吞吐量达 到1553万人次，日均38.8万人次，同比增长3.6%。 今年春运，随着我国免签"朋友圈"再扩大，以及北方冰雪游、南方避寒游热度持续走高，上海机场客流量持续增长。快报数据显示，自2月2日春运启动至2 月20日，上海机场共保障进出港航班超4.6万架次，其中浦东机场3.1万架次、虹桥机场1.5万架次，同比增长2.7%；保障进出港旅客743.4万人次，其中浦东 机 ...

Core Insights - The Beijing cultural and tourism market during the 2026 Spring Festival showcased vibrant consumer activity, with 19.84 million visitors and total tourism spending of 33.14 billion yuan over the nine-day holiday [1][2]. Group 1: Traditional and Cultural Activities - Over 40 unique temple fairs and lantern festivals were held, marking a record in both quantity and scale, blending traditional customs with technological experiences [2]. - The "Double Olympic New Year" cultural exhibition featured Olympic artifacts and integrated traditional Chinese New Year culture, attracting significant visitor engagement [5]. - The "Enjoy the New Year in Beijing" series of activities included participation from 11 provinces, showcasing local specialties and cultural performances, leading to over 10 million yuan in sales of "Beijing gifts" [3]. Group 2: Consumer Trends and Economic Impact - The overall sales during the Spring Festival reached 8.45 billion yuan, with a year-on-year increase of 12.4%, driven by a surge in foot traffic across major shopping districts [6]. - The influx of inbound tourists contributed to a 73.2% increase in consumption related to shopping, aided by new visa policies [8]. - The popularity of museums surged, with approximately 3.28 million visitors during the holiday, reflecting a 20.61% increase from the previous year [10]. Group 3: Technological Integration and Innovation - The integration of technology in consumer experiences was highlighted by the "AI New Year" event, which featured advanced robotics and interactive displays, significantly boosting foot traffic in commercial areas [6]. - The introduction of automated shopping experiences in the Economic Development Zone led to a 23.9% increase in consumer spending [6]. Group 4: Rural Tourism and Community Engagement - Rural tourism saw a rise in activity, with the "Wander in the Suburbs" initiative generating over 28 million exposures and significant sales through innovative marketing strategies [12]. - Community-driven events in rural areas attracted large crowds, showcasing local products and cultural experiences, enhancing the festive atmosphere [13].

春节长假临近尾声，今年春节档拥有9天"史上最长假期"的加持，给消费注入十足动力。来自部分沪市 公司的数据显示，今年春节期间出行、票房数据都释放了积极信号，同时，文旅、白酒、食品等公司也 借助"年味"加速文旅融合或强化互动，助力消费"开足马力"。 出行、票房数据积极，消费劲头足 豫园灯会年年处出"新意"。今年新春，上海豫园灯会实现数字化全面跃迁，以"新质生产力"赋能传统节 庆打造，将前沿科技化作温暖的媒介，创造有温度、有情绪、有参与感的文化沉浸式体验，打造出全国 首个全链路数字化新春文旅场景。 冰雪热助力"开门红"。来自长白山的数据显示，2026年春节假期截至正月初六，长白山景区累计接待游 客8.10万人次，同比增长1.28%，在冰天雪地中成功实现了新春旅游的"开门红"，展现了长白山冰雪经 济的强劲活力。 知名景区数据喜人。黄山旅游紧扣"马不停蹄・玩转黄山"主题，统筹旗下景区与酒店资源，打造多维度 新春场景，策划推出非遗体验、互动演绎、新春祈福、趣味科普等系列特色活动。数据显示，2026年春 节初一至初六（2月17日-22日）期间，黄山风景区接待进山游客17.44万人，在去年高位基础上实现增 长2.38%，景区 ...

Group 1 - The first trading day of the Year of the Horse is approaching, with investors hopeful for a strong market performance similar to previous years [1] - The A-share market has seen significant growth, with nearly 5,500 listed companies and a total market capitalization of 124 trillion yuan [1] - Historical data shows that the last trading day before the Spring Festival has generally been positive, with the Shanghai Composite Index rising in 17 out of the last 27 years [2] Group 2 - The performance of the A-share market during the Year of the Horse has been notable, with the last occurrence seeing the Shanghai Composite Index increase by nearly 60% [3] - The Year of the Snake saw a strong performance, with the Shanghai Composite Index rising by 25.58%, driven by advancements in AI technology [3] - The Year of the Dragon has consistently shown positive returns across three cycles, while the Year of the Tiger has seen declines in all three cycles [4] Group 3 - Global markets have shown positive trends during the Spring Festival, with major indices in the US and Europe experiencing gains [5][6] - The Hong Kong market has also rebounded, with significant increases in the Hang Seng Index and technology sectors [7] - Analysts express optimism for the A-share market post-Spring Festival, citing historical trends and potential for recovery in trading volume and price [8] Group 4 - The Spring Festival Gala showcased advancements in humanoid robotics, increasing public awareness and acceptance of these technologies [9] - The appearance of humanoid robots on a major television event is expected to boost orders significantly, with a reported increase in search and inquiry volumes on e-commerce platforms [10] - Companies involved in the humanoid robotics sector are likely to benefit from this heightened interest and technological advancements [10]

中新网上海2月23日电 (高志苗)2026年春节假期临近尾声，来自部分沪市公司的数据显示，今年春节期 间出行、票房数据都释放了积极信号，同时，文旅、白酒、食品等公司也借助"年味"加速文旅融合或强 化互动，助力消费"开足马力"。 作为消费黄金期，食品类公司的新春活动线下发力，主打"多元融合"。广州酒家实现场景营造、产品创 新与互动体验的多元融合。安井食品自腊八至正月十五，在全国595家合作商超门店开展店内秀活动， 累计举办超6000场次。(完) 今年新春，上海豫园灯会实现数字化全面跃迁，以"新质生产力"赋能传统节庆打造，将前沿科技化作温 暖的媒介，创造有温度、有情绪、有参与感的文化沉浸式体验，打造出全国首个全链路数字化新春文旅 场景。 冰雪热助力"开门红"。数据显示，截至正月初六，长白山景区累计接待游客8.10万人次，同比增长 1.28%，在冰天雪地中成功实现了新春旅游的"开门红"，展现了长白山冰雪经济的强劲活力。 知名景区数据也同样喜人。黄山旅游紧扣"马不停蹄·玩转黄山"主题，统筹旗下景区与酒店资源，打造 多维度新春场景，策划推出非遗体验、互动演绎、新春祈福、趣味科普等系列特色活动。数据显示， 2026年2月 ...