证 券 研 究 报 告 证券分析师 黄哲 A0230513030001 huangzhe@swsresearch.com 周文远 A0230518110003 zhouwy@swsresearch.com 贾梦迪 A0230520010002 jiamd@swsresearch.com 研究支持 行 业 及 产 业 海外消费服务 行 业 研 究 / 行 业 点 相关研究 2025 年澳门全年访客量 4006 万人次，同比增长 14.7%，创历史新高。2026 年元旦日，访 澳旅客 18.8 万人次，为历年元旦最高。 ⚫ 海外医药：百济神州 BCL2 抑制剂国内获批上市，科伦博泰 TROP2 ADC 联合 K 药获突破性 疗法认定 胡梦婷 A0230524060004 humt@swsresearch.com 联系人 胡梦婷 A0230524060004 2026 年 01 月 09 日 海外社服：澳门博彩收入维持双位数增长，元旦访客 量数据创新高 看好 ——海外消费周报（20260102-20260108） 本期投资提示： ⚫ 海外社服：澳门博彩收入维持双位数增长，元旦访客量数据创新高 12 月博彩毛收入 2 ...

央视网消息：职业的更新带来了大量的就业需求，也悄悄改变着就业的方向。2025年的职业更新，正打开未来就业新空间。 今年，人力资源社会保障部公布了17个新职业、42个新工种，职业细分程度显著提升，新职业不再仅聚焦于新产业，也打开 了老行业的新入口。比如养老服务师，区别于过去的"养老护理员"，从单一"照护型"，变成集健康监测、心理支持、康养规划于一 体的"全科型"；烧烤师傅升级成为"烧烤料理师"，要懂火候，更要懂品牌、会经营。岗位的每一次升级，都是在为就业打开未来发 展的坐标。 岗位需求开始更直接地写进产业政策。围绕跨境电商运营管理师，浙江义乌每年将培训跨境电商人才10000人次以上。围绕黄 金鉴定估价师，国家提出"十五五"期间要培育万名持证人才，覆盖银行回收、首饰加工、金融风控等关键节点，提前为新兴业态 和未来经济准备人力梯队。 通过更新一份份"职业名单"，清晰勾勒出产业所需的关键岗位与技能要求，把劳动者从当下带向未来。今年1至10月，人工智 能产品经理职位数增速超138%，无人机领域的飞手、组装测试岗位，职位数增速分别为113%、76%。 2025年的职业更新，满足了人们对美好生活的向往，也为劳动者打开了就业 ...

Core Insights - The "Implementation Plan for High-Quality Development of Ordinary High Schools in Shanghai" injects new momentum into the Shanghai education sector, promoting the optimization of educational resources, innovation in educational models, and digital transformation [1] Industry Summary - The education sector is expected to see new investment opportunities in areas such as personalized education, vocational training, and smart education due to favorable policy releases [1]

Core Viewpoint - The "Implementation Plan for the High-Quality Development of Ordinary High Schools in Shanghai" injects new momentum into the education sector, promoting the optimization of educational resources, innovation in educational models, and digital transformation, thereby releasing policy benefits. The education sector is expected to see new investment opportunities in personalized education, vocational training, and intelligent education [1][2]. Summary by Sections Investment Opportunities - The plan brings structural opportunities to the education sector, including the expansion and optimization of educational resources, enhancing the competitiveness of quality private schools, and increasing demand for extracurricular training due to the emphasis on "five educations" [2]. - The integration of vocational and general education is expected to expand the vocational education and skills training market [2]. Ordinary High School Development Plan - The plan focuses on improving the quality and capacity of ordinary high schools by enhancing resource allocation, educational reform, team building, and digital empowerment [2]. - It aims to increase the supply of ordinary high school places and promote the sharing of quality educational resources through inter-school cooperation and support for weaker schools [2]. Digital Technology Empowerment - The plan emphasizes digital transformation to enhance the quality and efficiency of high school education, including the application of intelligent teaching systems and the establishment of a digital course resource library [3]. - It aims to improve the digital literacy of teachers and students, integrating intelligent technology into teacher training and enhancing the quality of information technology courses [3]. Reform of Educational Approaches - The plan proposes a "five educations" integrated education system, promoting the organic integration of moral, intellectual, physical, aesthetic, and labor education [3]. - It encourages the involvement of parents and community representatives in school development planning and decision-making to enhance transparency and social participation [3].

Group 1 - The core viewpoint of the articles emphasizes the importance of vocational training and skill development in enhancing employment opportunities for graduates in Sichuan Province [1][2][3] - Sichuan Province has established a comprehensive vocational training system focusing on employment, entrepreneurship, and skill training, with over 30,000 young individuals trained this year alone [1] - The collaboration between educational institutions and local industries, such as the "workstation as a classroom" model in Suining, aims to align academic training with market demands [1][3] Group 2 - As of August 2023, 108 higher education institutions in Sichuan have been registered as vocational skill assessment agencies, with 236,800 participants in evaluations and 163,100 obtaining certificates [2] - The automotive college reported a 100% certification rate for vocational skill certificates among its 467 graduates in 2025 [3] - The provincial government is implementing policies to support entrepreneurship and enhance training for aspiring entrepreneurs, integrating entrepreneurial education into the overall talent development process [3]

Core Viewpoint - E-commerce has become a significant driver of employment growth, creating numerous high-quality job opportunities and serving as a key engine for stabilizing employment and promoting development [1]. Group 1: Employment Creation by E-commerce - Major e-commerce platforms like Alibaba, JD.com, Pinduoduo, and Meituan not only create direct job opportunities but also provide diverse employment options through industry chain extension, model innovation, and regional collaborative development [1]. Group 2: Challenges Faced by E-commerce in Employment - **Structural Mismatch in Talent Supply and Demand**: There is a notable phenomenon of "jobs without people and people without jobs" in the e-commerce sector. Many graduates seek e-commerce positions, while companies struggle to find qualified professionals due to outdated educational curricula [5]. - **Regional Development Imbalance**: Job opportunities and resources in e-commerce are concentrated in specific regions, with significant talent shortages in western and rural areas, limiting local e-commerce development [6]. - **Employment Quality and Stability Issues**: The flexible nature of e-commerce jobs leads to stability concerns, with high work pressure and inadequate salary increases affecting job satisfaction [7]. - **Inadequate Skills Training and Certification Systems**: Current training programs do not meet industry needs, and there is a lack of standardized certification, which diminishes the credibility and recognition of qualifications [8]. - **Policy Support and Resource Allocation Bottlenecks**: Government support policies for e-commerce employment and entrepreneurship are fragmented, and resources tend to favor large platforms over small enterprises [9]. Group 3: Recommendations and Measures - **Deepening Industry-Education Integration**: Updating course systems and encouraging collaboration between universities and enterprises to enhance practical skills and reduce knowledge gaps [10]. - **Improving Vocational Training and Skills Certification**: Strengthening training for urgently needed professions and innovating skill evaluation mechanisms to align with real-world job requirements [11]. - **Promoting Regional Coordinated Development**: Implementing support initiatives for underdeveloped areas and encouraging talent mobility to enhance e-commerce capabilities in those regions [12]. - **Enhancing Employment Quality and Social Security**: Establishing labor standards for flexible employment and improving social security systems for e-commerce workers [13][14]. - **Optimizing Policy Environment and Increasing Support**: Implementing inclusive financial policies and enhancing employment services to support e-commerce job creation [15]. Group 4: Summary - While e-commerce has made significant contributions to employment, it faces challenges such as talent mismatches, regional disparities, low job quality, inadequate training systems, and insufficient policy support. Addressing these issues requires collaborative efforts from government, enterprises, educational institutions, and society to unlock the full potential of e-commerce in promoting employment [16].