Group 1: Financial Support for Entrepreneurship - The new measures increase the personal loan limit for entrepreneurial guarantee loans from 300,000 yuan to 500,000 yuan, and for small and micro enterprises from 4 million yuan to 6 million yuan, with local finance covering the interest subsidy for amounts exceeding national limits [2] - A youth entrepreneurship promotion plan is implemented, providing interest-free, collateral-free, and mortgage-free startup loans ranging from 30,000 to 100,000 yuan for eligible individuals aged 18 to 40 who start a business in Sichuan within three years [2] - The entrepreneurship subsidy policy is optimized to cover recent graduates, unemployed individuals, returning migrant workers, and self-employed veterans, with subsidies of 5,000 yuan for businesses operating for over six months and up to 10,000 yuan for those operating for over 18 months based on various factors [2] Group 2: Enhancing Entrepreneurial Support System - The measures aim to enhance entrepreneurial training by expanding coverage to all laborers with entrepreneurial needs and implementing differentiated training subsidies [3] - Encouragement is given to develop specialized entrepreneurial training programs aligned with key industrial chains and emerging industries, focusing on sectors like the silver economy and international tourism [3] - Support is provided for rural e-commerce and new employment forms, with a focus on developing small-scale economic entities such as specialty shops and workshops [3] Group 3: Support for Key Groups and Talent Development - The measures encourage returning entrepreneurs to establish family farms, cooperatives, and agricultural enterprises, with access to small and micro enterprise support policies [4] - Local governments are incentivized to provide subsidies for hiring unemployed individuals or recent graduates, purchasing agricultural machinery, and establishing elderly care services [4] - Talent recruitment for entrepreneurial enterprises is integrated into local talent programs, with preferential support in various areas for those meeting employment generation criteria [4]

"京彩四季""爱购上海""食在广州""乐享服务·惠聚蓉城"…… 看到这些主题，大家是否一下便能对号入座？今年"五一"假期，各地文旅都行动起来，"吆喝"特色、主 打品质，都想在假期迎来更多的各地友人。 市场分析认为，包括文旅在内的服务消费，有望迎来又一波高峰。此前，商务部发布的数据显示，今年 一季度，服务零售额同比增长5.0%，增速比商品零售额快0.4个百分点。 从普通商品到服务哪些将成为热点领域？为什么要强调服务消费？ "最早我们看到通过以旧换新，大家换个手机、家电、电动自行车等，这些都只是日常的耐用品。下一 步，要从有形的商品消费，到发展服务消费，这具有更长远的意义。目前，服务消费仍有扩容空间，居 民在服务消费上的需求或倾向更高。"兴业银行首席经济学家鲁政委说。 "服务消费一头连着经济，一头连着民生，涵盖餐饮住宿、养老托育、文旅体育等多个领域。从近年的 数据可见，服务消费需求持续释放带动服务业较快增长，从而对经济高质量发展起到较强的支撑作 用。"国家金融与发展实验室副主任杨涛告诉《金融时报》记者，"当前，我国居民商品消费占国内生产 总值（GDP）的比重与经济发展阶段基本相称，但包括文旅、体育、教培等在内的服 ...

在需求端，我国消费升级正以"裂变式"效应催生大量岗位。以今年"五一"假期为例，成都国际空港商圈 每日客流超30万人，周边奥莱商场单日销售额突破2000万元；杭州零售、餐饮、批发、住宿、娱乐等五 大行业消费金额达40.16亿元。消费需求的集中爆发必然带来大量就业岗位，相关研报表明，服务业每 增长1个百分点，创造的就业机会比制造业多出约25%。 每经评论员 张怀水 今年"五一"假期，各地消费市场热度持续攀升，消费活力不断释放。其中，文旅、餐饮、娱乐等服务业 消费尤为火爆。从直播电商到智慧养老，从文旅融合到数据标注，服务消费领域不断涌现的新业态、新 模式，不仅重塑了经济格局，更以"就业蓄水池"的重要角色，为众多劳动者带来稳定的就业保障。 首先，服务消费与就业扩容之间存在双向驱动的紧密关系。 展望未来，应重视从"蓄水"到"活水"的生态重构。通过服务消费与就业市场的深度融合，逐步形成"需 求牵引供给、供给创造需求"的动态平衡。短期来看，可依托节日促销、文旅季等活动，快速释放消费 潜力，稳定岗位存量；长期而言，要培育养老护理、数据标注等朝阳产业，打造"就业友好型"服务业生 态，实现民生保障与经济增长的可持续循环。 在供给 ...

今年一季度，河南省GDP同比增长5.9%，较去年同期、去年全年分别加快1.2个、0.8个百分点，工业、 投资、消费等指标增速均快于去年同期、高于全国，顺利实现了"开门红"，扛起了经济大省挑大梁重 任。 值得一提的是，作为经济大省、人口大省，内需是河南的巨大优势，也是更好发挥挑大梁作用的底气所 在。据了解，河南正在制定提振消费专项行动实施方案。那该方案将重点从哪些方面发力？ "我们谋划推出了文旅消费繁荣行动，持续放大'老家河南''行走河南、读懂中国'品牌效应，加力把文旅 热转变为消费热，同时部署实施农村消费促进行动，加快破解消费'最后一公里'难题，全面激活农村消 费市场。"河南省发展改革委党组成员、副主任李新国表示，提振消费既要考虑短期需要，也要考虑长 期趋势，持续打好政策组合拳，有效解决消费可持续增长问题。 不仅如此，该实施方案还将加力扩围消费品以旧换新，推动汽车、家电、家居等产品消费扩量提质，大 力发展托育、养老、家政等服务消费，积极培育数字消费、低空消费等新增长点；坚持以优质供给引领 和创造更多消费新需求，深入实施服务业新供给培育工程，聚焦新零售、新餐饮、新文娱、新社会服务 四大领域，着力打造内容丰富、品 ...

Group 1: Tourism and Economic Development - Yaan City, located in the geographical center of Sichuan Province, is expected to receive over 27 million tourists and generate over 26 billion yuan in tourism revenue in 2024 [1] - The People's Bank of China Yaan Branch is implementing policies to boost consumption and expand domestic demand, focusing on rural tourism and health tourism [1] Group 2: Financial Support for Night Economy - The Yaan Branch of the People's Bank of China is guiding local banks to provide differentiated financial support for the night economy, including customized loans for street vendors [2] - Yaan Commercial Bank has launched a "Business Easy Loan" with a maximum credit limit of 10 million yuan to support the upgrade and expansion of accommodation and dining businesses [2] - Since 2025, local banks have utilized relending funds to issue 133 million yuan in loans to individual businesses at an average interest rate of 3.65% [2] Group 3: Quality Improvement in Cultural and Tourism Consumption - The Yaan Branch of the People's Bank of China is increasing credit support for the cultural and tourism industry, facilitating financing connections through government and enterprise meetings [3] - Specialized loan products such as "Lejia Tour," "Huiyi Loan," and "Homestay Loan" have been introduced, with approximately 370 million yuan issued by 2025 [3] - A risk-sharing fund of 50 million yuan has been established to support the development of the cultural and tourism industry, leading to the issuance of 2.19 billion yuan in loans [3] Group 4: Growth of Elderly Care and Childcare Services - The Yaan Branch of the People's Bank of China is encouraging banks to meet the financing needs of existing elderly care and childcare service providers [4] - Local banks have launched personal consumption loan products like "Easy Care Loan" to enhance consumption security for elderly services [4] - By early 2025, local banks have provided 823 home service transactions and 397 remote video services for elderly individuals, totaling 40.6165 million yuan [4]

4月28日，国新办举行新闻发布会，介绍稳就业稳经济推动高质量发展政策措施有关情况。这些举措与 去年9月一揽子增量政策、去年12月中央经济工作会议和今年3月全国两会部署任务形成接续，同时也因 应了外部环境最新变化。 同时，围绕康养托育、先进制造、现代服务、新职业等就业容量大、招聘需求旺的领域，加大职业技能 培训力度；强化政策激励，提高企业和劳动者培训的积极性，促进劳动者提升技能，以适应经济结构转 型的劳动力市场需求。 适度宽松的货币政策将为稳就业稳经济护航。包括适时降准降息，保持流动性充裕，发挥好货币政策工 具总量和结构双重功能，创设新的结构性货币政策工具，围绕稳就业、稳增长重点领域，精准加力做好 金融支持。包括落实创业担保贷款政策，加力稳外贸、促消费、扩投资等，并将适时推出增量政策。 更好发挥内需主动力作用是稳就业稳经济的主要手段，通过增加中低收入群体收入，大力提振消费，扩 大有效投资，实现做强国内大循环的目标。重点是加大资金支持力度，扩围提质实施"两新"政策，加力 实施"两重"建设，以确保继续沿着高质量发展的道路前进。 大力提振消费是关键。除了继续加力以旧换新，会议提出建立实施育儿补贴制度，创设专项再贷款工 ...

Economic Overview - In the first quarter, Inner Mongolia's GDP reached 581.6 billion yuan, with a year-on-year growth of 5.4% at constant prices [1] - The primary industry added value was 17.7 billion yuan, growing by 5.2%; the secondary industry added value was 254.7 billion yuan, increasing by 6.4%; and the tertiary industry added value was 309.1 billion yuan, rising by 4.6% [1] Agricultural Sector - Agricultural production is stable, with a focus on increasing production and income, and promoting agricultural modernization [1] - In the first quarter, the added value of agriculture, forestry, animal husbandry, and fishery grew by 5.3%, with livestock production increasing by 4.3% and milk production rising by 0.8% [1] Industrial Sector - The industrial sector showed stable growth, with the added value of large-scale industries increasing by 7.0% year-on-year in the first quarter [2] - Inner Mongolia is advancing high-level industrial park construction and developing a modern industrial system to support industrial economic growth [2] Service Sector - The service sector is recovering, with added value growing by 4.6% year-on-year in the first quarter [2] - The region is focusing on enhancing service quality and innovating service formats in areas such as elderly care, hospitality, and cultural tourism [2] Investment and Consumption - Fixed asset investment (excluding farmers) surged by 20.0% year-on-year in the first quarter, driven by effective demand expansion and major project implementation [2] - Social retail sales totaled 130.21 billion yuan, reflecting a year-on-year growth of 6.7%, supported by policies to boost consumption [2] Income Growth - Residents' per capita disposable income reached 11,303 yuan, with a nominal year-on-year increase of 5.3% [3] - Employment promotion actions are being implemented to ensure income growth aligns with economic development [3]

华夏时报（www.chinatimes.net.cn）记者 张智 北京报道 消费不仅关系民生福祉，也关系经济发展。 正在召开的消博会近几天捷报频传，带着新品亮相中国的外国品牌，有不少正在计划在中国开新店，并 已经签下新订单。在当前风雨飘摇的国际环境下，跨国品牌投资的信心只增不减。 一方面，市场销售稳步回升，一季度消费逐月回升。其中，3月份的社会消费品零售总额增长5.9%，比 1—2月份加快1.9个百分点。分项数据显示，一季度，限额以上单位通讯器材类商品零售额同比增长 26.9%，文化办公用品类增长21.7%，家用电器和音像器材类增长19.3%，家具类增长18.1%，仅这四项 就拉动社会消费品零售总额增长1.4个百分点。 另一方面，在"两新""两重"政策支撑下，相关消费品保持两位数增长，反映出市场销售状况不断好转。 其中，消费品以旧换新政策持续发力，耐用品消费维持良好增势。 "3月通讯器材类消费同比增速加快2.4%至28.6%，为2021年11月以来的最高值；家用电器和音效器材类 消费同比增速提升24.2%至35.1%；汽车类消费同比增速由负转正，3月汽车类消费同比增加5.5%，同比 增速较1—2月提升9.9% ...

价格改革方向明确了。 4月2日，据新华社消息，为进一步深化价格改革，完善价格治理机制，中办、国办近日印发《关于完善价 格治理机制的意见》（以下简称《意见》）。《意见》部署，健全促进资源高效配置的市场价格形成机 制，创新服务重点领域发展和安全的价格引导机制，完善促进物价保持合理水平的价格调控机制，优化透 明可预期的市场价格监管机制，强化价格治理基础能力建设。 券商中国记者梳理了《意见》的十大要点： 1、坚持社会主义市场经济改革方向，能由市场形成价格的都交给市场，促进先进优质生产要素高效 顺畅流动，有效服务全国统一大市场建设。 2、进一步完善成品油定价机制，深化天然气价格市场化改革。加快完善煤炭市场价格形成机制。鼓 励供需双方按照市场化原则协商确定水利工程供水价格，积极推进新建水利工程提前明确量价条件。 放开具备竞争条件的民航国内航线旅客运输价格。 3、推进重要商品现货、期货市场建设，优化期货品种上市、交易、监管等规则，夯实市场形成价格 的基础。有序发展油气、煤炭等交易市场。完善多层次电力市场体系，健全交易规则和技术标准，推 进电力中长期、现货、辅助服务市场建设，培育多元化竞争主体。完善售电市场管理制度。 4、废 ...

证券研究报告 立足温和复苏，积极结构跃迁 ——2025年政府工作报告解读 分析师：仇华 登记编号：S0500519120001 2025年03月10日 目录 | CONTENTS 01 03 2025年政府工作报告对投资的指引 2025年政府工作报告总览 04 投资建议和风险提示 02 2025年政府工作报告解读 一、2025年政府工作报告总览 2025年政府工作报告总览 3 一、2024年工作回顾 二、2025年经济社会发展总体要求和政策取向 总体要求：国内生产总值增长5%左右；城镇调查失业率5.5%左右，城镇新增就业1200万人以上； 居民消费价格涨幅2%左右；居民收入增长和经济增长同步；国际收支保持基本平衡； 粮食产量1.4万亿斤左右；单位国内生产总值能耗降低3%左右，生态环境质量持续改善。 政策取向：实施更加积极的财政政策：合计新增政府债务总规模11.86万亿元、比上年增加2.9万亿元。 实施适度宽松的货币政策。强化宏观政策民生导向。打好政策"组合拳" 。 三、2025年政府工作任务 （一）大力提振消费、提高投资效益，全方位扩大国内需求。 （二）因地制宜发展新质生产力，加快建设现代化产业体系。 （三） ...