国家发展改革委网站9月30日消息，近日，国家发展改革委已会同财政部，向地方下达今年第四批690亿 元超长期特别国债支持消费品以旧换新资金，至此，全年3000亿元中央资金已全部下达。 国家发展改革委表示，下一步，各有关部门将进一步组织地方合理把握工作节奏，完善资金使用计划， 均衡有序支出补贴资金，加强产品质量和价格监管，严厉打击骗补套补等违法违规行为，平稳有序实施 消费品以旧换新政策，推动补贴资金用到实处、见到实效。 今年1月、4月、7月，有关部门分三批下达超长期特别国债支持消费品以旧换新资金。各地各有关部门 持续完善实施机制，强化资金监督管理，推动消费品以旧换新政策取得积极成效。 国家发展改革委数据显示，今年1—8月，全国共有3.3亿人次申领消费品以旧换新补贴，带动相关商品 销售额超过2万亿元；限额以上单位家用电器和音像器材、文化办公用品、家具、通讯器材类商品零售 额同比分别增长28.4%、22.3%、22.0%、21.1%，支撑社会消费品零售总额同比增长4.6%。 国家发展改革委政策研究室副主任、新闻发言人李超日前透露，为进一步扩大内需，将平稳有序实施消 费品以旧换新政策，做好政策接续，加快首发经济、数字消 ...

Group 1 - The core viewpoint of the articles emphasizes the importance of developing the "first launch economy" to meet consumer demand for upgraded consumption and to stimulate market potential [1][2][4] - The "first launch economy" is thriving across China, with significant numbers of new stores being established in major cities, indicating strong resilience and potential in the consumer market [2][3] - New consumption models such as "first launch economy," "self-indulgent consumption," and "emotional consumption" are emerging, providing crucial support for boosting domestic demand and consumption [2][3] Group 2 - The integration of "IP + consumption" trends with the "first launch economy" is creating new commercial value, as evidenced by successful case studies like Joy City, which reported substantial sales growth from IP launches [3] - Policies are expected to support the "first launch economy" by focusing on infrastructure and scene construction, promoting digital integration, and nurturing both international and local brands [5][6] - Local governments are implementing targeted measures to support the "first launch economy," including financial incentives for hosting launch events and establishing new stores [6][7] Group 3 - Financial support is identified as a key driver for the "first launch economy," with suggestions for tax incentives and simplified approval processes to assist innovative consumer enterprises [7]

● 本报记者 熊彦莎 彭扬 中国证券报记者近日获悉，支持首发经济的相关举措有望近期推出。专家认为，发展首发经济是满足消 费者消费升级需求的重要举措，有助于激发消费市场潜能。应持续培育首发经济多元主体、完善政策， 因地制宜发展首发经济，助推消费和产业升级。 创造商业新价值 上海静安区"十四五"期间累计引进首店991家，广州2024年全年吸引国际国内品牌首店落户超400家，北 京今年前5个月新增落地首店近400家……一组组亮眼的数据，勾勒出首发经济在全国范围内蓬勃生长的 生动图景，彰显着中国消费市场的强劲韧性与无限潜力。 中诚信国际研究院院长袁海霞表示，近两年，首发经济、悦己消费、情绪消费等消费新模式、新业态层 出不穷，为拉动内需、提振消费提供重要支撑。 苏商银行特约研究员付一夫在接受记者采访时表示，支持首发经济发展的政策有望从四方面发力：在载 体与场景建设方面，政策有望聚焦商圈与特色街区改造，形成"首展+体验"的消费链路；同时，加速数 实融合，推动线上数字化首店与线下沉浸式首秀联动，拓宽首发场景边界。在主体培育方面，政策有望 兼顾国际引进与本土孵化，通过研发费用加计扣除等政策，支持本土品牌、老字号和中小企业开展 ...

Group 1 - The core viewpoint of the articles highlights the robust growth in consumer spending in China, with retail sales of consumer goods increasing by 4.6% year-on-year in the first eight months of the year, and service retail sales growing by 5.1% [1] - The emergence of "emotional consumption" reflects an upgrade in consumer demand, shifting from basic needs to personalized and quality-oriented demands as material conditions improve [2] - The retail sales of household appliances, audio-visual equipment, cultural office supplies, and furniture saw year-on-year growth rates exceeding 10% in August, significantly outpacing overall retail sales growth [2] Group 2 - The integration of sports events with local tourism and shopping has become a significant driver of economic growth, with Jiangsu Province reporting a nearly 200% increase in summer tourist attraction bookings since July [3] - The "tourism+" model, which combines tourism with various sectors such as performing arts and technology, is gaining popularity and stimulating consumer activity [5] - The introduction of silver tourism trains, aimed at the elderly population, reflects the growing market potential for services catering to aging demographics, with plans for 1,860 such trains in 2024 [6] Group 3 - The application of AI in consumer sectors is driving rapid growth in related industries, with significant increases in the manufacturing value of smart vehicle equipment and integrated circuits [7][8] - Policies aimed at optimizing tax refunds for outbound tourism and supporting the development of international consumer cities are being implemented to enhance domestic demand [9] - The government is focusing on deepening reforms and opening up to facilitate domestic and international economic circulation, with a goal of achieving high-quality development [10][11]

Core Viewpoint - The Chinese government is implementing a series of policies to expand service consumption, aiming to shift the consumption structure from goods to services as the economy matures, with a focus on attracting quality service resources and enhancing domestic consumption [1][6]. Group 1: Policy Measures - The newly released measures include 19 specific tasks across five areas, targeting various sectors such as cultural venues, sports events, education, high-end healthcare, and leisure tourism [1]. - The government plans to introduce additional policies for high-quality development in the accommodation industry and the integration of railways and tourism [1]. - A "1+N" policy system has been established, with over 30 related policy documents already issued [1]. Group 2: Market Trends - The shift towards service consumption is supported by international experience, indicating that when GDP per capita reaches around $15,000, the consumption structure tends to favor services [1]. - The service consumption expenditure per capita in China is projected to reach 46.1% of total consumption by 2024, indicating significant growth potential compared to developed countries [5]. Group 3: Technological Integration - The integration of new technologies such as 5G, IoT, big data, and AI is accelerating in the consumption sector, with a notable rise in "AI + consumption" applications [2]. - In August, the sales of robot-related products in Beijing's E-TOWN exceeded 330 million yuan, with over 190,000 units sold, highlighting the growing market for AI-driven consumer products [2]. Group 4: Pilot Cities and New Consumption Scenarios - The government will select around 50 pilot cities with large populations and strong development potential to innovate and diversify consumption scenarios [4]. - The focus is on enhancing the supply of quality consumption and promoting new consumption formats to stimulate market vitality [4]. Group 5: International Tourism and Service Optimization - The number of inbound tourists is expected to reach 130 million in 2024, with total spending projected at $94.2 billion, reflecting a significant increase from 2023 [7]. - Efforts are being made to improve the convenience of inbound tourism services, including the implementation of tax refund policies and the introduction of multilingual support at major airports [7].

Core Viewpoint - The article discusses the recent policies introduced by the Chinese government to expand service consumption, highlighting a shift towards service-oriented consumption as the economy matures, with a focus on attracting quality service resources through both domestic and international openings [1][10]. Group 1: Policy Measures - The Ministry of Commerce has announced over 30 policy documents aimed at establishing a "1+N" policy system for service consumption, which includes high-quality development in the accommodation industry and integration of railways and tourism [1][5]. - The measures include 19 specific tasks across various sectors such as cultural venues, sports events, education, high-end medical services, and leisure tourism, indicating a broad scope of policy support for service consumption industries [1][6]. Group 2: Economic Context - China's per capita GDP has surpassed $13,000, indicating that the country is entering a rapid growth phase in service consumption, which typically accelerates when GDP reaches around $15,000 [1][9]. - The proportion of per capita service consumption expenditure is projected to reach 46.1% by 2024, suggesting significant room for growth compared to developed countries [9]. Group 3: Technological Integration - The article emphasizes the rise of "AI + consumption" applications, showcasing the market potential for new service consumption models driven by technology such as 5G, IoT, and big data [6][7]. - Notable examples include the sales of over 19,000 robots and related products during a recent event, indicating a strong market for AI-driven services in hospitality and events [6][7]. Group 4: International and Domestic Opening - The government aims to balance international openness with domestic deregulation, proposing to ease restrictions in high-end medical and leisure sectors to attract foreign investment and private capital [10][11]. - The measures also include enhancing the convenience of services for inbound tourists, with projections of 1.3 billion inbound visitors and $94.2 billion in total spending by 2024, reflecting a significant increase from 2023 [10][11].

Core Viewpoint - The Chinese government is implementing a series of policies to expand service consumption, aiming to transition from goods to service-oriented consumption as GDP per capita approaches $15,000, with a focus on attracting quality service resources and enhancing supply-side quality [1][6][7]. Group 1: Policy Measures - The newly released measures include 19 specific tasks across various sectors such as cultural venues, sports events, education, high-end healthcare, and leisure tourism, indicating a favorable policy environment for service consumption industries [1][6]. - A "1+N" policy system has been established, with over 30 related policy documents already issued to support service consumption [1][6]. Group 2: Digital and AI Integration - The government is promoting the integration of artificial intelligence in consumption, with initiatives to develop new products and scenarios in digital consumption, leveraging technologies like 5G, IoT, and big data [3][5]. - The 2025 "E-TOWN Robot Consumption Festival" showcased significant sales in robotic products, indicating a growing market for AI-driven consumer solutions [3]. Group 3: International and Domestic Market Strategies - The measures emphasize a dual approach of increasing foreign investment while reducing domestic restrictions in sectors like high-end healthcare and leisure, aiming to enhance service supply and stimulate market vitality [6][7]. - The expected increase in inbound tourism, with projections of 1.3 billion visitors and $94.2 billion in spending by 2024, highlights the potential for growth in service consumption related to international travel [7][8]. Group 4: Consumer Experience Enhancements - Initiatives to improve the consumer experience for international travelers include multilingual support at airports and the introduction of tax refund stores, aimed at attracting more foreign tourists [8]. - The focus on enhancing service processes in airports and online travel platforms is part of a broader strategy to provide efficient and convenient experiences for international visitors [7][8].

Core Viewpoint - The Ministry of Commerce has released measures to expand service consumption, highlighting the importance of service consumption in driving economic growth, with service retail sales growing by 5.1% year-on-year, outpacing goods retail sales [1] Group 1: Policy Measures - The document outlines 19 initiatives across five areas: fostering service consumption platforms, enriching high-quality service supply, stimulating new service consumption, enhancing financial support, and improving statistical monitoring systems [1] - It introduces pilot cities for new consumption formats and scenarios, aiming to create integrated consumption experiences in business, travel, culture, and sports [1] Group 2: High-Quality Service Supply - The policy emphasizes support for high-quality cultural consumption, including film and animation, by extending operating hours of popular cultural venues and optimizing reservation methods [2] - It aims to attract high-quality events and develop professional leagues to boost related consumption in transportation, dining, culture, and tourism [4] Group 3: Opening Up Service Industry - The policy promotes orderly opening of sectors like the internet and culture, expanding pilot programs in telecommunications, healthcare, and education, while encouraging foreign investment in service consumption [6] - Experts note that enhancing service supply through both domestic and international openings is crucial for driving consumption growth [6] Group 4: New Consumption Scenarios - The measures aim to attract more foreign visitors by expanding visa exemptions and promoting unique cultural experiences tailored for tourists [8] - The potential for inbound consumption can be unlocked by improving payment systems and enhancing tax refund processes [8] Group 5: Digital Service Consumption - Expanding digital service consumption is identified as a key area for growth, with initiatives to create new products and scenarios in information consumption [10] - The integration of artificial intelligence in consumption is highlighted as a way to transform traditional service venues into digital consumption spaces, enhancing service quality and expanding consumption scale [10]

Core Points - The Ministry of Commerce and nine other departments jointly issued measures to expand service consumption, highlighting a significant focus on enhancing the service sector [1] - The measures include 19 specific tasks across five areas, aiming to improve service supply, attract foreign consumers, and enhance financial support for service facilities [1][2] Group 1: Service Consumption Expansion - The measures propose cultivating platforms for service consumption and developing new business models and scenarios [1] - There is a strong emphasis on improving the quality of services in sectors such as culture, entertainment, sports, and healthcare [1][4] - The measures aim to attract more foreign visitors for consumption and expand digital service consumption [1][5] Group 2: Market Access and Restrictions - The measures suggest relaxing market access and reducing restrictive measures in various sectors, including telecommunications, healthcare, and education [2] - Specific initiatives include extending operating hours for popular cultural venues and optimizing reservation systems [2] Group 3: Digital Technology Integration - The integration of XR and other digital technologies with the cultural and tourism industries is expected to create new immersive experiences, attracting younger consumers [3] - The measures encourage the introduction of international sports events and support local sports competitions, enhancing the sports economy [3] Group 4: Long-term Care and High-end Services - The expansion of long-term care insurance coverage is seen as a positive policy for the elderly care industry [4] - The measures aim to increase the supply of high-end services in healthcare and leisure sectors, providing consumers with more diverse options [4] Group 5: Attracting Foreign Consumers - Specific actions to attract foreign consumers include expanding visa policies and enhancing international promotion of cultural tourism resources [5] - Data from travel platforms indicate a significant increase in orders from foreign tourists, highlighting the growing interest in domestic travel [5] Group 6: New Consumption Scenarios - The measures promote the development of AI applications in consumption and suggest optimizing school holiday arrangements to increase service consumption opportunities [6]

Core Insights - The Ministry of Commerce has released policies aimed at expanding service consumption, highlighting its importance in driving economic growth and meeting people's needs for a better life [1] Group 1: Service Consumption Growth - In the first eight months of this year, service retail sales in China grew by 5.1% year-on-year, outpacing the growth rate of goods retail sales [1] - Service consumption is identified as a key area for economic growth and fulfilling consumer needs [1] Group 2: Attracting Foreign Consumers - The policy aims to gradually expand the number of countries eligible for unilateral visa exemptions and to issue 5-year multiple-entry visas for more qualified individuals [3] - The strategy includes leveraging traditional cultural advantages such as cuisine, traditional Chinese medicine, and historical sites to encourage travel agencies and online platforms to create tailored travel routes for foreign tourists [3] Group 3: Enhancing Inbound Consumption - Experts emphasize the need to improve the convenience of inbound consumption, including enhancing foreign currency payment systems and expanding the coverage of tax refund stores [5] - There is a call for smarter tax refund processing to facilitate foreign consumer spending [5] Group 4: Digital Service Consumption - Expanding digital service consumption is highlighted as a significant area for growth, with a focus on creating new products, scenarios, and hotspots in information consumption [7] - The initiative includes developing "AI+" consumption models to transform traditional service venues into digital consumption scenarios, thereby enhancing service quality and expanding consumption scale [9]