Core Viewpoint - Shaanxi Tourism Culture Industry Co., Ltd. officially listed on the Shanghai Stock Exchange on January 6, 2026, marking it as the first new listing in A-shares for 2026 and the first cultural tourism company to list in the past five years [1][2]. Company Overview - Shaanxi Tourism engages in tourism performances, cable cars, and dining services, leveraging high-quality tourism resources such as Huaqing Palace and Mount Huashan, with a strong cultural heritage and stable business operations [1]. - The company is known for popular performances like "The Song of Everlasting Regret" and "12.12 Xi'an Incident," which have a good reputation among consumers [1]. - The cable car business is recognized for its technical indicators and industry reputation, ranking among the top in China [1]. Market Context - The Central Economic Work Conference in December 2025 emphasized the importance of domestic demand and consumer spending as a priority for economic work in 2026, aiming to boost consumption and release service consumption potential [1]. - A joint guideline issued by the China Securities Regulatory Commission and other departments in June 2025 supports quality enterprises in the consumption industry to raise funds through public offerings and listings [1]. IPO Details - Shaanxi Tourism's IPO was approved by the CSRC on November 19, 2025, with the issuance of 19.33334 million shares at a price of 80.44 yuan per share, corresponding to a P/E ratio of 12.37 for 2024 [2]. - The total fundraising amount was 1.555 billion yuan, aligning with the expected fundraising scale disclosed in the prospectus [2]. - Upon listing, the opening price was 131.15 yuan, reflecting a 63.04% increase from the issuance price [2].

1月6日，陕西旅游（603402）在上交所主板正式上市交易，这是2026年A股首家新上市公司，也是近5 年来A股首家文旅类新上市公司。该公司开盘价131.15元，较发行价80.44元上涨63.04%。 有投行人士向记者表示，陕西旅游是近5年来A股首家文旅类上市企业，体现了资本市场对具备稳定盈 利能力、成熟商业模式的消费类企业的支持与认可，也反映出资本市场在服务实体经济、支持提振和扩 大消费方面将更好发挥积极作用。 2025年12月召开的中央经济工作会议将"坚持内需主导，建设强大国内市场"列为2026年经济工作首要任 务，提出要深入实施提振消费专项行动，并释放服务消费潜力。去年6月，证监会等六部委共同印发 《关于金融支持提振和扩大消费的指导意见》，提出通过优化金融资源配置、完善资本市场功能等措 施，支持符合条件的消费类企业上市融资，推动消费行业高质量发展。 陕西旅游主要从事旅游演艺、旅游索道、旅游餐饮等业务，公司依托华清宫、华山等优质旅游资源，文 化底蕴深厚，经营业务稳定。2025年11月19日，陕西旅游IPO获证监会同意注册，当年12月18日启动发 行。据悉，陕西旅游IPO采用直接定价方式、全部通过网上向社会 ...

12月14日，商务部、中国人民银行、金融监管总局联合发布《关于加强商务和金融协同更大力度提振消费的通知》(以下简称《通知》)，指导地方商务主 管部门和中国人民银行分支机构、金融监管总局各监管局及金融机构加强协同配合，聚焦消费重点领域加大支持力度，形成提振和扩大消费的更大工作合 力。 一是深化系统协作。指导地方相关部门建立健全协调工作机制，加强常态化沟通交流，细化支持举措，强化财政、商务、金融政策协同配合。 二是加大金融支持。丰富完善金融产品和服务，加强场景对接、生态融合，提高对消费领域适配性，助力升级商品消费，扩大服务消费，培育新型消费， 创新多元化消费场景，做好消费帮扶。 《通知》围绕商品消费、服务消费、新型消费、消费场景、消费帮扶等重点领域和强机制、抓落实、促合力等关键环节，提出3方面11条政策措施。 《通知》强调，要强化协同配合，做好部门间政策衔接、工作对接和优势互补；要抓好落地见效，鼓励各地方有关部门、金融机构结合实际细化完善金融 支持举措，激发消费潜力；要加强跟踪指导，及时共享进展情况，总结推广典型经验做法。 三是扩大对接合作。鼓励联合开展促消费活动、拓展多种形式的信息共享、做好宣传引导推广，增强经 ...

Core Insights - The People's Bank of China Beijing Branch, along with 12 other departments, issued an implementation plan to support the expansion of consumption in Beijing, aiming to enhance financial services in the consumption sector by 2030 [1][2] Group 1: Financial Support for Consumption - The implementation plan emphasizes the need for quality enterprises in the consumption industry to finance through public offerings and "New Third Board" listings [1] - It aims to increase the loan balance for sectors such as accommodation, catering, cultural tourism, education, and elderly services, while enhancing the quality and efficiency of personal consumption financial services [1] - The plan sets a goal to establish a diversified consumption financial service system to support Beijing's development as an international consumption center [1] Group 2: Credit Support and Financial Products - The plan calls for increased credit support for consumer goods, particularly in the automotive sector, by optimizing loan issuance ratios, terms, and interest rates [2] - Financial institutions are encouraged to innovate financial products tailored to various car purchasing scenarios, including first-time purchases and trade-ins, with a focus on electric vehicles [2] - There is a push for financial institutions to meet consumer demand in areas like home appliances, green smart home renovations, and electronics through various promotional activities [2] Group 3: Equity Financing and Investment - The plan supports equity financing for quality enterprises in the consumption industry through public listings and private equity investments [2] - It encourages social capital to invest in key service consumption areas, utilizing "long-term capital" and "patient capital" to meet the financing needs of long-cycle consumption industries [2] - The role of private equity and venture capital funds is highlighted to increase investments in seed and early-stage enterprises [2]

Group 1 - The 50th anniversary of diplomatic relations between China and Mozambique was celebrated with mutual congratulatory messages from President Xi Jinping and President Chapo [2] - Xi Jinping emphasized the importance of farmland protection, stating that China has implemented the strictest farmland protection system since the 18th National Congress, ensuring the protection of 1.8 billion acres of farmland [3] - Major engineering projects are being steadily advanced across the country to support high-quality economic development [10] Group 2 - China's inbound tourism is experiencing a continuous increase, supported by the expansion of visa-free countries and improvements in tourism services [11] - The State Council has introduced 19 key measures to support and expand consumption, encouraging financial institutions to enhance services for consumer goods [13] - As of the end of last year, the total number of registered seafarers in China reached 2.0358 million, reflecting a year-on-year growth of 2.7% [15]

Group 1 - The Chinese government is taking measures to boost and expand consumption through 19 key initiatives [11] - The tourism sector is experiencing a resurgence with an increase in inbound travel [9] - Significant engineering projects are being steadily advanced across various regions [8] Group 2 - The international oil prices have seen a substantial decline due to changes in the Middle East situation [17] - The ongoing conflict in the Middle East is affecting airline operations, with flights gradually returning to normal [16] - The situation in Ukraine remains tense, with reports of large-scale missile attacks impacting port infrastructure [18]

近日，海南省人民政府办公厅印发《海南省提振和扩大消费三年行动方案》。其中提到，加大生育养 育保障支持。出台育儿补贴办法。将参加职工基本医疗保险的灵活就业人员、农民工、新就业形态就 业人员纳入生育保险；形成政策合力。开展省级层面消费领域宏观政策取向一致性评估。发挥供销系 统、乡村振兴队伍等作用，精准实施消费帮扶。鼓励将工会经费用于职工节日慰问品、健身、文体等 消费。严格落实带薪年休假制度，鼓励带薪年休假与小长假连休，实现弹性错峰休假，结合实际探索 设置中小学春秋假。 ...

Group 1 - The core viewpoint of the article is the introduction of a three-year action plan by Hainan Province to boost and expand consumption, which includes 35 measures across 9 areas [1] - The plan focuses on enhancing consumption capabilities through high-end shopping, medical services, and education, including optimizing duty-free policies and issuing consumption vouchers [1][2] - The initiative aims to develop marine tourism, improve the quality of island tourism, and promote night-time consumption by extending operating hours of businesses and creating night-time leisure districts [2] Group 2 - The plan emphasizes traditional consumer benefits by promoting local cuisine, facilitating trade-in programs for consumer goods, and accelerating the adoption of new energy vehicles [2][3] - It also aims to cultivate new consumption scenarios by innovating digital consumption, expanding aerospace tourism, and developing educational travel products [3] - Hainan will allocate over 10 billion yuan in fiscal funds from 2025 to 2027 to support the consumption boost, including interest subsidies for personal loans in the consumption sector [3]