县域消费崛起，城乡联动明显。这个黄金周，人流、物流、资金流沿着高铁、高速和即时零售网 络，快速实现了"城—县—乡"全域流动，消费热点由大中城市引领，迈向了城乡联动。凭借3小时高铁 圈的便捷以及独特的旅游体验，不少县城迎来客流高峰；预制菜、健康零食、特色茶饮等返乡团聚商品 销量大增；各地县域商场、综合体焕新升级后人气火爆，家电销售迎来高峰。我国县域国土面积占全国 90%左右，人口比重超50%，是扩大消费的重要增量市场。下一步，应用好绿色消费、智能消费快速普 及的契机，促进县域消费扩容升级。 从更深层次来看，黄金周的消费市场活力，得益于政策"组合拳"发力，释放出巨大的市场潜力。从 节前财政部再派"以旧换新"补贴，到文化和旅游消费月及时启动，再到地方纷纷推出消费券，有效降低 了消费门槛，也提供了更多消费选择。与此同时，我国中等收入群体规模不断扩大，人民美好生活需求 日益增长，消费升级的长期趋势没有改变，都为消费增长提供了坚实的支撑。新供给创造新需求，新需 求牵引新供给，多方发力、良性循环，让消费市场越来越旺。 科技深度赋能，带来消费体验革新。这个黄金周，科技正从多维度赋能消费市场。在零售与居家领 域，能听懂方言的扫 ...

Core Insights - County consumption is evolving from being perceived as low-end to a more robust market, with rural residents' per capita disposable income reaching 11,936 yuan, reflecting a real growth of 6.2% in the first half of the year [1] - The government has introduced multiple policies to stimulate consumption, and financial institutions are actively working to alleviate consumption bottlenecks, creating new opportunities for county-level consumption [1] - The implementation of personal consumption loan interest subsidies has encouraged banks to actively engage in the consumer loan market, making it easier for consumers to benefit from these policies [2] Group 1: Economic Indicators - Rural consumer goods retail sales reached 32,409 billion yuan, with a growth rate of 4.9%, maintaining a growth trend for 43 consecutive months that either exceeds or matches urban growth [3] - The increase in disposable income and retail sales indicates a strengthening of consumer purchasing power and willingness to spend in rural areas [1][3] Group 2: Policy Impact - The introduction of loan interest subsidies has made it easier for consumers like Mr. Zhou to make significant purchases, such as vehicles, by reducing their financial burden [2] - The government subsidy of 458.37 yuan on Mr. Zhou's car loan illustrates how targeted financial policies can directly impact consumer behavior and stimulate spending [2] Group 3: Consumer Behavior - Consumers in rural areas are increasingly taking advantage of favorable policies, leading to a shift in their lifestyle and consumption patterns, as evidenced by Mr. Zhou's decision to purchase a new vehicle [2] - The accessibility of high-quality goods and services in rural areas is improving, allowing residents to experience a better quality of life without needing to travel to urban centers [3]

转自：新华财经 时值中国农民丰收节，中国农业银行和中国银联近日在湖南常德共同推出十大措施，汇聚政府部门、金 融机构、合作企业等多方力量，从金融产品创新、建设"一县多商圈"、支持以旧换新、服务文旅消费等 多个维度提振县域消费。 县域经济正受到前所未有的重视。2024年政府工作报告提出了"培育发展县域经济"，2025年政府工作报 告进一步强调要"大力发展县域经济"。 "健全县域商业体系""使内需成为拉动经济增长的主动力和稳定 锚"的过程中，金融手段成为了持续激发县域消费的重要动力。 "买了200多元东西，实际只花了100多元，太划算了！"常德市柳叶湖河街国家级夜间文化和旅游消费集 聚区里游人如织，市民王女士在游玩消费过程中享受了信用卡近5折的优惠，直呼半价购物"真香"。中 国农业银行信用卡中心总裁李平介绍，"农行推出'县城旅游节'专项活动，覆盖全国1100多个县城地 区，深度融合了民宿集群、生态康养、非遗民俗等特色资源。" 商圈、夜市作为县域居民消费的重点场景，承担了"食住行游购娱"等多重消费需求。据介绍，中国农业 银行凭借县域网点布局全面的优势，在县域餐饮、超市、酒店等3万多家线下商户开展了"一县多商 圈"建设 ...

作为全国主会场，湖北省组织17个地市州共同开展256场形式多样的主题促消费活动。以特色大集、灯 会庙会、商业街区等县域商业设施为重点，同步推出"打折促销""品牌酬宾""团队拼单"等多重优惠政 策，全力营造火热县域消费氛围。来自全国的30多家企业围绕农产品采购，连锁企业县域市场拓展等方 面项目进行签约，签约总金额超30亿元。 央视网消息：由商务部联合湖北省人民政府开展的2025年全国县域商业消费季9月17日在湖北省恩施启 动。今年活动主题为"新大集 新服务 新消费"，活动期间各省份商务主管部门将精心组织31场重点活 动。 湖北省商务厅副厅长 李晓燕：接下来 我们将加大政策支持，推出"企业让利+平台优惠+品牌促销"组合 政策，推动更多优质资源下沉县域，将居民期盼的新品牌 新服务 新模式带到县域，让县域消费者享受 到更便捷 更优质的服务，进一步激发县域消费潜力。 ...

Core Insights - The county-level market in China is experiencing significant growth, with rural consumption retail sales reaching 32,409 billion yuan in the first half of the year, an increase of 4.9% [1] - The "Special Action Plan to Boost Consumption" emphasizes support for new consumption models and the implementation of county-level commercial construction actions [1] Group 1: County-Level Consumption Trends - The county-level market accounts for 38.9% of the total retail sales of consumer goods, indicating a substantial share in the overall consumption landscape [1] - The "平急两用" commercial complex in Guizhou has attracted many consumers through immersive and interactive shopping experiences, showcasing the potential of innovative commercial spaces [2][3] - The integration of local agricultural products into urban markets through direct supply channels has enhanced the freshness and quality of goods available to consumers [2] Group 2: Infrastructure and Logistics Development - Various measures have been introduced to encourage the development of underground commercial spaces and smart logistics, aimed at improving urban space utilization [3][4] - The establishment of the China Supply and Marketing Cooperative's collection and distribution center in Pingjiang has significantly improved logistics efficiency, reducing delivery times and costs for rural residents [8][9] - The "客货邮" model has been implemented to streamline logistics services, connecting 23 towns and establishing 434 service points, effectively covering rural areas [9] Group 3: New Consumption Models and Innovations - The rise of instant retail and digital platforms has transformed consumer habits in rural areas, with a reported 50% year-on-year growth in instant retail orders [13] - New chain brands are rapidly expanding into county-level markets, with over 40% of stores located in these areas, reflecting a shift towards higher quality and diverse product offerings [14] - The growth of tourism in rural areas is creating new consumption opportunities, with hotel bookings in certain regions experiencing a near doubling compared to the previous year [15] Group 4: Policy and Future Outlook - The central government's focus on enhancing county-level commercial systems and supporting chain operations is expected to drive further growth in rural consumption [16] - The increasing disposable income of rural residents, which reached 11,936 yuan in the first half of the year, is contributing to a shift in consumption patterns towards more quality and diversified products [18] - The ongoing development of infrastructure and logistics, along with innovative business models, is anticipated to unleash greater potential in the county-level consumption market, serving as a key driver for economic growth [20]

Core Viewpoint - The article highlights the significant growth and transformation of the county-level consumption market in China, driven by innovative commercial models, improved infrastructure, and supportive government policies, which are collectively enhancing consumer experiences and expanding market potential [20][21]. Group 1: County-Level Consumption Growth - In the first half of the year, China's rural retail sales reached 32,409 billion yuan, growing by 4.9%, with county and township markets accounting for 38.9% of total social retail sales [4][21]. - The "Special Action Plan to Boost Consumption" emphasizes supporting new consumption models and enhancing county-level commercial infrastructure [4][21]. - The county-level market is seen as a new growth point for consumption, with ongoing construction and renovation of commercial centers across various levels [8][21]. Group 2: Innovative Commercial Models - The "Star Joy" commercial complex in Guizhou has successfully integrated modern commercial operations with local characteristics, attracting significant foot traffic and enhancing consumer experiences [5][7]. - The introduction of new retail formats, such as instant retail and digital consumption, is reshaping consumer habits and preferences in rural areas [16][17]. - The establishment of smart logistics centers is improving the efficiency of supply chains and reducing costs for rural consumers, facilitating better access to goods [10][12]. Group 3: Infrastructure Development - Various regions are implementing measures to optimize existing urban spaces and enhance county-level commercial networks, including the construction of comprehensive service centers [8][19]. - The integration of logistics and e-commerce services is addressing the "last mile" delivery challenges in rural areas, significantly improving service accessibility [11][23]. - The development of smart logistics systems is enabling faster and more reliable delivery services, enhancing the overall consumer experience in rural markets [11][12]. Group 4: Consumer Behavior and Trends - Rural residents' per capita consumption expenditure has increased from 8,383 yuan in 2014 to 19,280 yuan in 2024, reflecting a compound annual growth rate of 8.7% [21]. - The shift in consumer preferences from basic needs to quality and brand-oriented products is evident, with a growing demand for diverse and high-quality offerings [21][22]. - The rise of new tourism destinations and cultural consumption in counties is expanding the market and attracting more visitors [18][19].

Core Insights - The county-level market in China is experiencing significant growth, with rural consumption retail sales reaching 32,409 billion yuan in the first half of the year, marking a 4.9% increase, and accounting for 38.9% of total social retail sales [1] - The "Consumption Promotion Special Action Plan" emphasizes the support for new consumption development and the implementation of county commercial construction actions [1] Group 1: County Consumption Market Dynamics - The county consumption market is showing new trends, with various local initiatives aimed at stimulating consumption [1] - The "平急两用" commercial complex in Guizhou has attracted many consumers through immersive shopping experiences, indicating a shift towards more engaging retail environments [2][3] - The integration of local agricultural products into urban markets through direct supply channels is enhancing the freshness and quality of goods available to consumers [2] Group 2: Infrastructure and Logistics Development - Recent measures have been introduced to encourage the development of underground commercial spaces and logistics systems to improve urban space utilization [3][4] - The establishment of the China Supply and Marketing Cooperative's collection and distribution center in Pingjiang County has significantly improved logistics efficiency, reducing delivery times and costs for rural residents [8][9] - The "客货邮" model has been implemented to streamline logistics services, connecting 23 townships and covering nearly 100% of villages, thus enhancing rural logistics capabilities [9] Group 3: New Consumption Patterns and Trends - The rise of instant retail and digital platforms is reshaping consumer habits in rural areas, with a projected 50% increase in instant retail orders in 2024 [12] - New chain brands are rapidly expanding into county markets, with over 40% of锅圈食汇's stores located in these areas, reflecting a growing demand for quality products [13] - The tourism sector in counties is also expanding, with significant increases in hotel bookings in regions like Xinjiang and Qinghai, indicating a rise in rural tourism consumption [14] Group 4: Policy and Future Outlook - The central government's focus on enhancing county commercial systems and supporting chain operations is expected to drive further growth in rural consumption [15] - The ongoing improvements in infrastructure and logistics, combined with innovative business models, are set to unleash greater potential in the county consumption market [16][19] - The increasing disposable income of rural residents, which has grown from 8,383 yuan in 2014 to 19,280 yuan in 2024, is contributing to a shift in consumption patterns towards higher quality and diversified products [17]

Core Insights - The county-level market is experiencing significant growth in service consumption, with a notable increase in both restaurant and non-restaurant orders in July compared to June [1] Group 1: Restaurant Orders - In July, 623 counties saw restaurant orders double compared to June, indicating a strong recovery and demand in the food service sector [1] - The number of "ten-thousand order stores" in the restaurant category increased by 274% month-over-month, with Yiwu ranking first nationally [1][4] Group 2: Non-Restaurant Orders - Non-restaurant small shops are also thriving, with over 10,000 non-restaurant small shops experiencing a month-over-month revenue growth exceeding 100% [1][4] - More than 12,000 non-restaurant small shops saw their orders double compared to before the launch of Taobao Flash Purchase [1][4] Group 3: Night Economy - The average daily orders for county-level night-time consumption increased by 70% in July compared to June, highlighting the potential of the night economy [1][5] - The top five most active county-level cities for night consumption are Kunshan, Yiwu, Jinjiang, Puning, and Cixi [1][6] Group 4: Popular Product Categories - Popular product categories in the county market include: - Snack foods, with orders increasing by 126% month-over-month - Sports and outdoor products, with a 114% increase - Coffee, with a 104% increase - Fried yogurt, with a 91% increase [1] Group 5: Digital Transformation - The implementation of digital systems has reduced the operational costs of multi-channel operations by approximately 50% [4]

Core Viewpoint - The article highlights the vibrant consumer landscape during the "618" shopping festival, showcasing various sectors such as home decoration, travel, and elderly care, indicating a resurgence of consumer confidence and vitality in the market [1]. Group 1: Consumer Financing and Loans - As of May 2025, Agricultural Bank's personal business loan balance reached 2.81 trillion yuan, with an increase of 317.9 billion yuan since the beginning of the year [2]. - The credit card loan balance of Agricultural Bank stood at 869.1 billion yuan as of May 2025, reflecting an increase of 40.9 billion yuan since the start of the year [7]. - The county-level loan balance of Agricultural Bank is projected to grow from 7.3 trillion yuan in 2022 to 10.57 trillion yuan in 2025, with a year-to-date increase of 733.5 billion yuan as of May 2025 [12]. Group 2: Housing and Interest Rates - The interest rate for first-time homebuyers with a mortgage of over five years was reduced to 2.85% as of May 7, 2025, following a 0.5 percentage point cut in the reserve requirement ratio and a 0.1 percentage point decrease in policy rates [3]. Group 3: Consumer Subsidies and Promotions - The scale of the "trade-in" subsidy program increased significantly from 150 billion yuan last year to 300 billion yuan this year, with consumers eligible for up to 15% off on new purchases [4]. - As of May 31, 2023, the number of applications for the automobile trade-in subsidy reached 4.12 million [6]. Group 4: Rural and County-Level Consumption - The construction and renovation of comprehensive commercial service centers in counties reached 2,628, with 13,391 township commercial centers and 138,000 village convenience stores established from 2023 to March 2025 [9]. - Agricultural Bank organized over 700 online and offline events, including more than 300 activities focused on promoting new energy vehicles in over 200 county regions [11]. - Daily, over 100 million express packages are processed in rural areas, with about one-third of counties achieving same-day delivery, enhancing convenience for consumers [13]. Group 5: Cultural and Tourism Consumption - The market size of China's intangible cultural heritage industry surpassed 450 billion yuan in 2024, with expectations to reach 580 billion yuan by 2025, indicating a growing interest in experiential travel and local cultural experiences [21].

Core Viewpoint - The current consumption market in China is showing enhanced vitality and heat, but there are still constraints to sustained improvement. Future policies should better coordinate the relationship between benefiting people's livelihoods and promoting consumption, supply innovation and demand upgrading, as well as current and long-term considerations to effectively expand consumption [1]. Group 1: Consumption Characteristics - The characteristics of consumption in China are marked by rapid growth, new products, new business formats, and new scenarios [2]. - Consumption is maintaining a moderate growth trend, with significant vitality in the market. Key features include rapid growth in service consumption, the emergence of new products and business models, and the rise of consumption in county areas [3]. Group 2: Service Consumption Growth - Service consumption is experiencing good growth, driven by policies that promote service consumption and the expansion of consumption scenarios. The focus is shifting from separate development of categories like dining and tourism to integrated and multi-faceted development [4]. - In 2024, China's service retail sales are expected to grow by 6.2% year-on-year, outpacing the growth of goods retail sales by 3 percentage points. Per capita spending on services is projected to increase by 7.4%, accounting for 46.1% of total per capita consumption expenditure, up 0.9 percentage points from the previous year [4]. Group 3: New Products and Business Models - New technologies such as big data, cloud computing, and artificial intelligence are accelerating consumption innovation, leading to rapid development of new products, business formats, and scenarios. The smart home market is expected to reach 780 billion yuan in 2024, with smartphone shipments projected at approximately 286 million units, a year-on-year increase of 5.6% [6]. - Online retail is also thriving, with a 6.5% growth in physical goods online retail expected in 2024, outpacing the overall retail growth by 3 percentage points. Live streaming and instant retail sales are showing strong growth, with sales increasing by 19.1% and 13.8% respectively in the first three quarters of 2024 [6]. Group 4: County-Level Consumption - Since 2023, consumption in county areas, particularly in lower-tier cities and rural regions, has become more active. The coverage of county-level tourist attractions has increased significantly, with a rise from 73% in 2012 to 93% in 2023 [7]. - Travel orders from lower-tier cities are expected to grow by nearly 20% in 2024, with outbound travel ticket purchases from residents in third-tier cities and below accounting for over 30% of the total, more than doubling from the previous year [7]. Group 5: New Consumer Groups - The influx of residents from Hong Kong and Macau into mainland cities is creating new consumption dynamics. In 2024, the number of Hong Kong residents traveling north is expected to reach 81.91 million, with total spending exceeding 55.7 billion yuan, both up over 50% from the previous year [8]. - The optimization of visa-free policies has led to a significant increase in inbound tourism, with the number of eligible individuals rising by 113.5% year-on-year in 2024. The diversity of tourist sources and the appeal of lesser-known destinations are also increasing [8].