"十五五"中国小微客车短租市场规模年均料增15%左右 中新社北京12月23日电 (记者 刘文文)中国交通运输部副部长李扬23日在国务院新闻办公室举行的发布 会上表示，据预测，"十五五"时期，全国小微客车短租市场规模年均增长15%左右。 李扬认为，明年及以后，交通运输领域消费有几个重点增长方向。首先，游艇和邮轮消费将是增长点。 近三年，中国新登记游艇数量年均增速40%以上，呈现快速增长态势。过去被认为属于高消费的游艇正 在向大众化消费、规模化发展阶段演进。交通运输部将抓住这一发展动向，研究制定扩大游艇消费的若 干措施。邮轮方面，交通运输部会同文旅部印发《进一步促进邮轮运输及旅游服务发展的若干措施》， 支持有条件的地方发展邮轮服务，提供更多的邮轮航线，开发更多的邮轮消费产品。 其次，小微客车租赁市场值得关注。今年国庆假期，小微客车租赁呈爆发式增长。目前，中国小微型客 车租赁总量已达到400万辆，还处于快速发展时期。李扬表示，明年将针对当下小微客车租赁的痛点、 堵点、卡点，加强重点时段租赁车辆供应，会同有关部门用好高铁站、机场、汽车客运站等交通枢纽， 推动异地便捷免费或降费还车，形成网络化布局，优化小微客车租赁发展 ...

Core Insights - The Chinese yacht and cruise consumption market is expected to see significant growth in the coming years, with the Ministry of Transport indicating a shift towards more accessible and widespread consumption of yachts [1] - The number of newly registered yachts in China has been growing at an annual rate of over 40% over the past three years, indicating a rapid expansion in this sector [1] - The Ministry of Transport plans to implement measures to enhance yacht consumption while ensuring safety and addressing infrastructure challenges, such as insufficient docking facilities [1] Yacht Industry - The Ministry of Transport is focused on promoting yacht consumption by revising safety regulations and improving infrastructure for yacht docking and registration [1] - The transition of yachts from a luxury item to a more mainstream consumer product is a key trend identified by the Ministry [1] Cruise Industry - The cruise sector has shown strong growth, with passenger transport volume reaching 1.265 million from January to November this year, a year-on-year increase of 27.8% [2] - The Ministry of Transport, in collaboration with the Ministry of Culture and Tourism, has introduced ten measures to enhance cruise transportation and tourism services, focusing on expanding cruise routes and improving port services [2] - The new measures allow cruise ships without electrical facilities to dock at Chinese ports until the end of 2029, addressing previous limitations in cruise operations [2] Future Developments - The Ministry of Transport will work closely with the Ministry of Culture and Tourism to ensure the effective implementation of measures that support the cruise economy [4] - The small and micro car rental market is also highlighted as a growth area, with a total of 4 million small rental cars in China, projected to grow at an annual rate of 15% during the 14th Five-Year Plan period [4] - Plans are in place to enhance vehicle supply during peak rental periods and improve the overall service network for car rentals [4]

全球邮轮行业正迈入一个前所未有的长期扩张阶段。据权威行业媒体《邮轮行业新闻》（Cruise Industry News）最新披露，截至2025年12月，全球在建及已签约邮轮订单达76艘，总价值高达824亿美 元，交付计划将持续至2036年。 ●普遍采用液化天然气（LNG）双燃料动力 ●配备岸电系统，靠港时实现零排放 ●集成先进能源管理、AI调度与自动化服务 ●强化数字化乘客体验（如无接触登船、个性化行程） 四大集团主导八成订单，MSC强势领跑 行业集中度持续提升，四大邮轮集团合计占据全球订单总额的80%以上： | 集团 | 在手订单 | 总价值 | 备注 | | --- | --- | --- | --- | | 挪威邮轮控 | | | | | 股 | 16艘 | 190亿美元 | 目前订单金额第一 | | (NCLH) | | | | | MSC地中海 | 11艘(+4~6艘待 | 154亿美元(潜在超 | 近期与德国Meyer Werft签署117亿美元"4+2"艘协 | | 邮轮 | 确认) | 250亿) | 议，有望跃居首位 | | 皇家加勒比 | | | | | 集团 | 11艘 | 140亿美元 ...

Core Viewpoint - The Ministry of Transport of China is focusing on enhancing the quality of transportation services to support high-quality economic and social development, with specific goals set for the upcoming year and beyond [1]. Group 1: Economic Indicators and Achievements - In 2025, the transportation sector is expected to achieve a fixed asset investment exceeding 3.6 trillion yuan, with over 2,000 kilometers of new high-speed railways, approximately 8,000 kilometers of new expressways, and about 900 kilometers of new high-grade waterways [1]. - The total cross-regional passenger flow is projected to exceed 66 billion trips, with a freight volume of over 58 billion tons, both showing a year-on-year growth of around 3.5% [1]. - The urban rail transit system has expanded to over 11,000 kilometers across 54 cities, with daily ridership exceeding 90 million and an airport rail transit access rate of 83.3% [1]. Group 2: Digital Transformation and AI Integration - The Ministry has issued implementation opinions on "Artificial Intelligence + Transportation," initiating the construction of a comprehensive transportation model [2]. - Approximately 1,700 kilometers of highways and over 2,200 road and waterway facilities have undergone digital transformation, and 60 automated container and bulk cargo terminals have been established [2]. - The domestically manufactured C919 passenger aircraft has safely transported over 3 million passengers [2]. Group 3: Consumer Growth Areas - The small and micro car rental market is identified as a significant consumer growth point, with the total number of small and micro rental cars reaching 4 million and an expected annual growth rate of around 15% during the 14th Five-Year Plan [3][5]. - The Ministry plans to enhance the quality of small and micro car rentals by addressing supply issues during peak times and optimizing the rental experience at transportation hubs [5]. - The yacht and cruise sectors are also anticipated to be growth areas, with yacht registrations increasing at an annual rate of over 40% in the past three years [4]. Group 4: Infrastructure Development and Future Projects - The 14th Five-Year Plan has seen significant progress in the construction of a comprehensive transportation network, with major projects like the Shenzhen-Zhongshan Bridge and the Beijing-Harbin Highway expansion completed [6][7]. - The Ministry aims to continue advancing the construction of key projects during the 15th Five-Year Plan, including the Lion's Mouth Channel and the Zhangjingao Yangtze River Bridge [7]. - The overall investment in transportation fixed assets reached 18.8 trillion yuan, significantly enhancing the sector's capacity and operational efficiency [6].

Group 1 - The core viewpoint of the article is that the Ministry of Transport is promoting the development of yacht and cruise consumption as a key growth area in the transportation sector, indicating a shift towards more accessible and large-scale consumption of yachts [1] - The number of newly registered yachts in China has been growing at an annual rate of over 40% over the past three years, reflecting a rapid growth trend in yacht consumption [1] - The Ministry of Transport plans to implement measures to expand yacht consumption, including revising safety management regulations and improving infrastructure such as public docks and berths to address the issue of insufficient docking spaces [1] Group 2 - The small and micro car rental market is also highlighted as a focus for high-quality development, with the total number of small and micro rental cars in China reaching 4 million [2] - The short-term rental market is projected to grow at an annual rate of around 15% during the 14th Five-Year Plan period, indicating strong demand in this sector [2] - The Ministry of Transport aims to enhance vehicle supply during peak rental periods and optimize the rental business model by facilitating convenient return options at transportation hubs [2] Group 3 - The article mentions the development of self-driving premium routes as a new trend in tourism consumption, with many roads becoming popular tourist destinations [2] - The Ministry of Transport plans to improve the highway service system and cultivate a number of cross-regional, distinctive self-driving routes to enhance travel experiences [2] - The Ministry emphasizes the concept of "people enjoying their journey," aiming to expand new consumption scenarios and models to provide diverse services for a better quality of life [2]

格隆汇12月23日｜富国银行将嘉年华邮轮的目标价从35美元上调至38美元，维持"增持"评级。(格隆汇) ...

中经记者 杨让晨 张家振 上海报道 进入12月，多家邮轮企业宣布调整2026年年初在中国大陆市场的运营计划。 据了解，在此次调整中，爱达邮轮取消了"爱达·魔都号"驶往日本的航线计划，取而代之的是韩国航 线；另一艘邮轮"爱达·地中海号"则"调头"前往东南亚地区的越南。和爱达邮轮类似，两家在中国大陆 运营的外资邮轮企业——皇家加勒比和MSC地中海也相应调整了航线。其中，皇家加勒比取消了部分 前往日本的航线，并增加了韩国航线。 对于航线调整原因，爱达邮轮方面日前向《中国经营报》记者表示，公司基于对市场需求的洞察，通过 对旗下邮轮进行差异化布局，以满足母港周边的消费者多元化出行需求。 值得注意的是，今年以来，中国邮轮市场规模同比大幅增长。原国家旅游局副局长、中国国际公共关系 协会副会长吴文学在今年11月举行的"2025上海邮轮经济发展论坛"上透露，中国邮轮市场的年均增速达 到45%，2024年，客运总量已经超过2019年同期85%。 中欧国际工商学院院长、上海国际邮轮经济研究中心主任汪泓在接受记者采访时表示，2025年，的确可 以视为中国邮轮经济第二个"黄金10年"的起点。"虽然行业仍处于'爬坡过坎'的恢复培育期，但 ...

Core Viewpoint - The cruise industry is emerging as a significant aspect of Guangzhou's marine economy, with the launch of the Guangzhou Nansha International Cruise Homeport for the 2025-2026 autumn and winter sailing season [1] Group 1: Cruise Operations - The Guangzhou Nansha International Cruise Homeport will officially commence operations for the 2025-2026 autumn and winter sailing season [1] - The "Aida Mediterranean" cruise will operate from December 7, 2025, to May 2026, offering multiple routes covering popular tourist destinations such as Hong Kong, Vietnam, the Philippines, Malaysia, and Brunei [1] Group 2: Domestic Cruise Development - The second domestically produced large cruise ship named "Aida Flower City," named after Guangzhou, is nearing completion and is expected to begin regular operations from Nansha by the end of 2026 [1]

智通财经APP获悉，对邮轮行业而言，随着加勒比海市场过度饱和以及乌克兰战争可能结束，2026年欧 洲将成为关键战场，这使得嘉年华(CCL.US)和维京(VIK.US)等运营商有望超越竞争对手。 杰富瑞的大卫·卡茨表示："我们的观点是，与专注于加勒比海的运营商相比，在欧洲市场有重大业务的 运营商应该会受益。"他对整个邮轮行业持乐观态度，但指出某些公司将在2026年凭借有利的地缘政治 发展和卓越运营表现脱颖而出。 由于业务质量不断改善且运力增长极小，嘉年华集团仍是卡茨在休闲娱乐领域的首选股。 最后，皇家加勒比邮轮维持"中性"评级，因为该公司仍然是拥有强大管理团队和商业模式的"高质量运 营商"。然而，来自陆地资产的强劲顺风可能会被预计在2026年出现的定价疲软所抵消，同时挪威邮轮 向加勒比海的转移对皇家加勒比的影响将比同行更为明显。 对于2027年，卡茨预计皇家加勒比将有更强劲的增长，因为更多陆地资产将全面投入运营，例如巴哈 马、圣托里尼和科苏梅尔的皇家海滩俱乐部，而从长期来看，皇家加勒比在技术和创新方面的领先地位 将继续保持。 同样，维京控股也将在2026年从其以欧洲为中心的航线以及面向高收入消费者的定位中受益。 ...

欧美12月PMI表现如何。 本周全球市场风云变幻，美联储宣布年内第三次降息，AI板块抛售潮再起。 市场方面，美股涨跌互现，道指周涨1.05%，纳指周跌1.62%，标普500指数周跌0.63%。欧洲三大股指 分化，英国富时100指数周跌0.19%，德国DAX 30指数周涨0.66%，法国CAC 40指数周跌0.57%。 数据方面，市场焦点或将集中于两项因政府停摆而推迟发布的关键数据：定于16日公布的11月非农就业 报告，以及18日出炉的11月消费者物价指数（CPI）。此前公布的11月ADP私营部门就业数据显示，就 业人数减少3.2万人，远逊于市场预期，这一数据预示着非农就业报告存在下行风险。此外，12月标普 全球制造业及服务业采购经理人指数（PMI）初值、11 月零售销售数据也将分别于16日和17日公布。 美国财政部将于17日拍卖130亿美元20年期国债，并于18日拍卖240亿美元5年期通胀保值债券 （TIPS）。虽然流动性担忧有所缓解，新一轮拍卖仍将考验投资者对长期国债的需求意愿。 财报方面，值得关注的企业包括美光科技、联邦快递、耐克、嘉年华等。 原油与黄金 受地缘政治和全球原油供应持续过剩的拖累，国际油价结 ...