● 本报记者 熊彦莎 近期，多地发布金融支持扩消费相关政策。其中，支持消费类企业上市、引导金融机构用好用足服务消 费与养老再贷款等是政策支持重点。 专家表示，支持优质消费类企业上市，有利于提升企业公信力，扩大优质供给，优化消费结构，满足多 样化需求。加大对消费企业信贷支持力度，将推动服务消费与养老再贷款良性发展，为消费市场复苏注 入动力。 支持优质企业上市 利用资本市场支持消费类企业融资，对于扩大内需、提振消费具有重要意义。中国国际经济交流中心科 研信息部副部长刘向东在接受中国证券报记者采访时表示，支持优质消费类企业上市，通过融资扩大生 产、创新产品，直接扩大优质供给，提升企业公信力，有利于优化消费结构，满足多样化需求。此外， 消费类上市企业稳健增长，能够通过财富效应提升居民财产性收入，提升消费意愿。 Wind数据显示，截至11月24日，今年以来有18家可选消费类企业在国内上市。根据申万一级行业分 类，其中有13家汽车企业、2家轻工制造企业、1家机械设备企业、1家纺织服装企业和1家电子企业。 加大信贷支持力度 除借力资本市场外，一些地方还加大了对消费企业的信贷支持力度。 广东发布的《金融支持"粤享暖冬 乐游广 ...

今日A股三大指数集体收跌。截至收盘，上证指数跌0.40%，深证成指跌0.76%，创业板指跌1.12%，北 证50跌1.00%，全天成交额1.72万亿元，较上日缩量200亿元，超3850只个股下跌。板块题材上，海南、 银行、锂矿板块走高，中船系、化工、旅游板块调整。 值得注意的是，本周市场的确堪称是地狱级别，大盘指数收出了3阴1阳，几乎每天都是绿多红少，即便 是唯一的阳线当天，市场也是超过4000只个股"待涨"，赚钱效应着实难以令人满意。也正因为如此，不 少投资者对牛市的信念再度动摇。 不过站在中长期视角，支撑本轮牛市的诸多逻辑并未改变，并且我国科技与军事实力的飞速提升有目共 睹，在大国博弈过程中的自信和底气也越来越足，同时国内提振经济发展、促进产业升级的政策力度有 增无减，这些都将成为推动资本市场稳步向上的关键力量。叠加国家持续推动资本市场高质量发展的导 向，"慢牛"格局下的震荡整固反而有利于消化获利盘、修复估值结构，为后续行情延续积蓄动能。因此 我们预计，经过震荡调整、清理浮筹后，市场后续仍有望重新回到上行区间，并向着下一个新高发起进 攻。 那么，后续行情又该如何演绎呢？ 客观地讲，经历了近期的连续回调，目 ...

10年间签约政府和商业合作项目347个、金额达260亿美元，累计跨境融资金额217亿美元，探索形成33项具有首创性、高辨识度的制度型开放 成果！ 11月10日，重庆发布中新（重庆）战略性互联互通示范项目实施10周年"成绩单"。这一合作模式以无形的服务与"联通"，打破有形的"壁 垒"，让更多地区人民共享发展红利。 作为中国与新加坡继中新苏州工业园、天津生态城之后的第三个政府间合作项目，中新互联互通项目"亮"在哪？ 李岸说："从苏州的一座'工业园'，到天津的一座'生态城'，再到重庆的'互联互通'，中新合作呈现出与时俱进的鲜明特征。其中，中新互联互 通项目呈现三方面特点：合作模式聚焦'互联互通'、辐射范围侧重'带动西部'、合作内涵突出'制度创新'。" "中新互联互通项目突破了传统产业园区开发合作模式，深化了中新政府间合作项目的内涵。"重庆市商务委主任、重庆市中新示范项目管理 局局长章勇武说，项目以重庆为运营中心，不受地域限制，规划之初就明确"服务西部"的定位。 重庆来福士矗立于两江交汇之处。（受访者供图） 一个个"看得见摸得着"的投资项目依次落地—— 当夜色笼罩两江，新加坡在华最大投资项目重庆来福士的璀璨灯幕次第亮 ...

Core Insights - The Guizhou provincial government is implementing measures to stimulate consumer spending and promote economic recovery, as highlighted in a recent press conference [1][4]. Consumer Market Performance - In the first three quarters, Guizhou's total retail sales of consumer goods increased by 3.8%, with retail sales of above-designated size growing by 5.1%, surpassing the national average by 0.2% [4]. - The value added in wholesale and retail, as well as accommodation and catering industries, grew by 5.7% and 5.3%, respectively, also exceeding national averages [4]. Characteristics of Consumption - Strong support for commodity consumption is evident, with significant participation in trade-in programs for automobiles and home appliances, resulting in a total consumption of 49.762 billion yuan [4]. - The province has seen a notable increase in the replacement of automobiles (20.7%) and communication equipment (42.6%) [4]. Service Consumption Potential - A new initiative launched in October aims to enhance service consumption across various sectors, including dining, accommodation, and entertainment, with a focus on quality improvement [5]. - New business formats such as specialty coffee and craft beer have seen rapid growth, with a 52.8% increase in coffee and tea consumption in Guiyang [5]. New Consumption Drivers - The implementation of the "Ten Hundred Thousand" e-commerce development project has led to the establishment of multiple e-commerce demonstration parks and bases, contributing to a 12.6% increase in online retail sales, totaling 104.93 billion yuan [6]. - The launch of the "One Code Guizhou" online exhibition for local liquor aims to boost digital consumption [6]. Consumption Scene Activation - Guizhou has developed 140 commercial districts and 116 pedestrian streets, enhancing the shopping experience and attracting tourists [7]. - Various promotional activities have been organized around key consumption periods, generating over 2 billion yuan in retail and dining consumption [7]. Policy Measures for Consumption Expansion - The provincial government is continuing to promote trade-in programs for consumer goods, with new policies aimed at facilitating automobile replacement and upgrades [8]. - A new subsidy program for purchasing new cars has been introduced, offering financial incentives based on the price of the vehicle [8]. Support for Key Industries - Recent measures have been introduced to support the development of the catering and retail sectors, with specific initiatives aimed at assisting businesses facing challenges [9]. - The government is actively working to implement consumption promotion policies and provide targeted support to the wholesale, retail, accommodation, and catering industries [9].

Core Insights - Hainan Tea World International Trade Co., Ltd. has been established with a registered capital of 1 million RMB, indicating a new player in the international trade sector focused on tea and related products [1] Company Overview - The company is represented by Zhang Peifen and has a broad range of business activities including import and export of goods and technology, food sales, and offshore trade [1] - The operational scope includes both licensed and general business projects, showcasing a diverse portfolio that spans various industries such as manufacturing, sales, and services [1] Business Activities - Licensed operations include import and export agency services, food and alcohol sales, and accommodation services, which require specific permits [1] - General business activities cover a wide array of sectors including sales of doors and windows, smart manufacturing equipment, electronic products, agricultural products, and various retail services [1] - The company also engages in tourism-related services, cultural exchange activities, and marketing planning, indicating a focus on both trade and service-oriented sectors [1]

Core Points - A new company named Yinchuan Liu Sanduo Ningli Trading Co., Ltd. has been established with a registered capital of 1 million RMB [1] - The legal representative of the company is Yang Wei [1] Business Scope - The company is involved in various licensed projects including tea product manufacturing, beverage production, food internet sales, food sales, food production, residential interior decoration, urban delivery services (excluding hazardous goods), and road freight transportation (excluding hazardous goods) [1] - The company also offers catering services and tourism business, which require approval from relevant authorities before operation [1] - General projects include food sales (only pre-packaged food), professional design services, packaging services, agricultural and sideline product sales, food internet sales (only pre-packaged food), internet sales (excluding goods requiring permits), health food (pre-packaged) sales, conference and exhibition services, cultural and artistic exchange activities, and engineering and technology research and experimental development [1]

Core Insights - JD's 11.11 event saw significant growth in user engagement and order volume, with user numbers increasing by over 117% and order volume by over 125% compared to the previous year [1][2][3] - The "super supply chain" model has enhanced operational efficiency and product availability, leading to a 50% increase in the number of items in stock and a reduction in inventory turnover days to 30.9 days, down over 20% [3][5][43] - Innovative product offerings and marketing strategies have driven substantial sales growth across various categories, including a 258% increase in winter apparel and a 6-fold increase in home appliance orders [15][13][21] User Engagement and Sales Growth - The number of users placing orders during the 11.11 event increased by over 117%, while the total order volume grew by over 125% [1][2] - JD's new product offerings, particularly in the 3C digital and home appliance categories, saw remarkable sales increases, with some categories experiencing growth rates exceeding 800% [7][13] - The introduction of innovative products like the "washing and care small beauty box" led to over 10,000 sales in just 24 hours [21] Supply Chain and Operational Efficiency - The "super supply chain" model has allowed JD to achieve a 50% increase in the number of items in stock and a significant reduction in inventory turnover days [3][5] - 95% of self-operated orders and 87% of orders in rural areas were delivered within 24 hours, showcasing the efficiency of JD's logistics network [3][5] - The integration of AI and logistics technology has improved operational efficiency, with the "super brain model 2.0" enhancing picking efficiency by 10% [3][43] Category-Specific Performance - The 3C digital category saw overall C2M product transaction value increase by over 50%, with specific products like AI smartphones and gaming laptops achieving significant sales milestones [7][9] - Home appliances experienced a 6-fold increase in orders, with specific products like washing machines and air conditioners seeing even higher growth rates [13][15] - The food and beverage sector also thrived, with fresh produce and imported seafood seeing transaction volume increases of 180% and 460%, respectively [23][24] Innovation and New Business Models - JD has introduced various innovative business models, including the "cross-store selection" for food delivery, which has led to a 100% increase in order volume for the Seven Fresh food mall [39][40] - The integration of AI in marketing and customer service has improved product information coverage from 40% to 80%, significantly enhancing operational efficiency [44][45] - JD's health and beauty segment has also seen growth, with over 20 new medical devices launched and sales increasing by over 100% during the event [29][41]

Core Viewpoint - The "Suggestions" for the 15th Five-Year Plan emphasize high-quality development, technological self-reliance, and improvements in people's livelihoods, aiming for a modernized socialist society by 2035 [1][3]. Group 1: Economic and Social Development Goals - Seven main goals for the next five years include significant achievements in high-quality development, substantial improvements in technological self-reliance, breakthroughs in comprehensive reforms, enhanced social civilization, improved quality of life, major progress in ecological construction, and strengthened national security [3]. Group 2: Strengthening the Real Economy - The modern industrial system is identified as the material and technical foundation for Chinese-style modernization, focusing on the real economy with an emphasis on intelligent, green, and integrated development [4]. Group 3: New Economic Growth Points - The plan aims to develop emerging pillar industries through innovation, particularly in strategic sectors like new energy, aerospace, and quantum technology, while fostering a supportive environment for small and medium enterprises [5][6]. Group 4: Digital Economy and AI - The initiative promotes the integration of the digital economy with the real economy, advancing artificial intelligence applications across various sectors and enhancing data resource utilization [7]. Group 5: Support for Private Economy - The plan emphasizes the importance of the private economy, ensuring equal participation in market competition and enhancing the legal framework to protect the rights of private enterprises [9][10]. Group 6: Education and Talent Development - The strategy includes expanding free education and exploring the extension of compulsory education, aiming to improve educational quality and accessibility [15]. Group 7: Cultural and Tourism Development - The plan encourages the development of the cultural industry and tourism, promoting cultural integration with technology and enhancing the quality of tourism services [16]. Group 8: Public Safety and Environmental Protection - There is a focus on improving public safety governance and ecological protection, including the establishment of new national parks and the implementation of biodiversity conservation measures [18].

Economic Overview - Beijing's GDP reached 3.8 trillion yuan in the first three quarters of 2025, with a year-on-year growth of 5.6% [1] - The city plans to implement six major special actions in the fourth quarter to promote sustained economic development across various sectors [1] Investment and Infrastructure - The municipal government will allocate 74 billion yuan in fixed asset investment by the end of October 2025 [2] - A total of 155 local government special bond projects have been issued, amounting to 108.2 billion yuan [2] - The city aims to initiate 160 key projects in the fourth quarter, focusing on urban renewal and quality land supply near transit areas [2] Industry Development - Beijing will introduce new reform measures in technology transfer and talent incentives, particularly in the Zhongguancun area [3] - The city is focusing on stabilizing production in key sectors such as new energy vehicles and pharmaceuticals, while promoting digital and green economy initiatives [3][7] - The number of enterprises with technology innovation centers has reached 1,475, with over 1,000 recognized as "little giant" enterprises [6][7] Consumer Trends - The total retail sales in Beijing reached 980.31 billion yuan in the first three quarters, reflecting a 5.1% decline year-on-year [8] - Service consumption accounted for 59.8% of total consumption, marking the highest level in five years, indicating a shift towards service-oriented spending [8] - The city is leveraging digital technologies to enhance personalized consumption experiences, particularly in education, culture, and entertainment sectors [8] Social Development - Significant progress has been made in social welfare initiatives, including the establishment of new elderly care centers and the expansion of educational facilities [4][5] - The city plans to enhance employment support and improve living standards through various community services and infrastructure projects [5]

Core Viewpoint - The article emphasizes the importance of effective complaint mechanisms for consumers facing issues with product quality, service, or false advertising in a thriving consumer market. Various complaint channels, including official hotlines, consumer associations, industry associations, and online platforms like Black Cat Complaints, are highlighted as viable options for consumers to protect their rights [1]. Group 1: Official Channels - The 12315 hotline and platform serve as authoritative tools for consumer rights protection, allowing consumers to report issues directly and provide evidence through uploads [2]. - An example is provided where a consumer reported expired food through the 12315 platform, leading to swift action from local market regulators, demonstrating the effectiveness of this official channel [2]. Group 2: Consumer Associations - Local consumer associations are established to supervise goods and services, offering a platform for consumers to submit written complaints and facilitating mediation between parties [3]. - A case is mentioned where a consumer received a replacement and compensation for a faulty appliance after involving the consumer association, showcasing the association's role in resolving disputes [3]. Group 3: Industry Associations - Industry associations play a crucial role in maintaining order and protecting consumer rights within specific sectors, allowing consumers to report issues related to industry-specific companies [4]. - An example from the tourism industry illustrates how a complaint to the tourism association led to corrective actions and compensation for affected tourists, highlighting the association's influence on industry standards [4]. Group 4: Emerging Online Platforms - The Black Cat Complaints platform, a public service initiative under Sina, is noted for its convenience and efficiency in handling consumer complaints [5]. - A case is cited where a consumer received a prompt response and compensation from an e-commerce platform after filing a complaint on Black Cat, demonstrating the platform's effectiveness in facilitating communication between consumers and businesses [5]. - The platform's transparency and progress tracking features enhance consumer confidence and encourage businesses to address consumer concerns seriously [5].