证券代码：600629 证券简称：华建集团 编号：临2025-035 华东建筑集团股份有限公司 第十一届董事会第十次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 华东建筑集团股份有限公司（以下简称"公司"）第十一届董事会 第十次会议通知于2025年7月25日以邮件形式发出，会议于2025年7月30 日以通讯方式召开。本次会议应参加董事八人，实际参加董事八人。本 次董事会的召集、召开符合《公司法》和《公司章程》的有关规定，表 决所形成的决议合法、有效。 二、董事会会议审议情况 本次会议审议并通过了如下议案： 为深化公司收入分配制度改革，完善效益导向和市场导向的企业工 资决定机制，公司制定了《华建集团2024年度工资总额清算方案》。 本议案已经公司董事会薪酬与考核委员会审议通过。 表决情况： 8票同意、 0票反对、 0票弃权，该议案通过。 理办法》的议案 表决情况：8票同意、 0票反对、 0票弃权，该议案通过。 为满足下属子公司华建数创（上海）科技有限公司（以下简称"华 建数创"）的资金周转及经营发展需要，同 ...

Core Insights - The potential direction for consumption growth in China stems from both the increase in marginal propensity to consume and the structural opportunities in service consumption and lower-tier markets [1][3]. Group 1: Marginal Propensity to Consume - The current marginal propensity to consume in China is estimated at 66%, significantly lower than the 88% observed in the United States [2][3]. - Historical data indicates that the marginal propensity to consume is a variable influenced by macroeconomic cycles, fiscal policies, and income expectations [2]. - If the marginal propensity to consume increases to 70% by 2029, it could add approximately 7.1 trillion yuan to the consumption scale, while a rise to 75% could result in an additional 14.9 trillion yuan [3][7]. Group 2: Service Consumption Expansion - In 2024, service consumption accounts for 43% of total household consumption in China, which is significantly lower than the 69% in the U.S. [8]. - If the service consumption share increases to 53% by 2029, it could theoretically add 14.9 trillion yuan to the consumption scale, reaching a total of approximately 245 trillion yuan [8][9]. Group 3: Income Distribution and Rural Consumption - Rural residents exhibit a higher marginal propensity to consume at 86%, compared to 55% for urban residents, indicating stronger consumption willingness among rural populations [9]. - If the annual growth rate of rural disposable income increases from 8% to 10% or 12%, it could contribute an additional 3.5 trillion yuan or 7.2 trillion yuan to consumption, respectively [10]. Group 4: Strategic Recommendations - To enhance consumption levels and structural quality, the focus should be on developing service consumption, improving social security systems, reforming income distribution, and supporting rural consumption policies [13][14].