4月29日，香港生产力促进局(生产力局)公布2025年第二季"渣打香港中小企领先营商指数"("渣打中小企 指数")。调查结果显示，本季综合营商指数较上季轻微上升1.0至43.8，指数与过去数季相若，反映在环 球经济前景不明朗下，香港中小企的整体营商信心仍然维持保守。 五大分项指数中，其中三项录得增长，包括"营业状况"、"盈利表现"及"投资意向"。相反，"环球经 济"及"招聘意向"分项指数录得跌幅。其中，本季"环球经济"分项指数进一步下跌4.7至24.9，跌至接近 2022年第二季度的水平，反映全球贸易阴霾进一步为香港中小企带来挑战。其中，"进出口贸易及批发 业"、"制造业"及"专业及商用服务业"的环球经济分项指数录得最大跌幅，跌至几乎接近2021年第一季 度的水平。 超九成香港中小企业维持或增加投资 本季综合营商行业指数方面，11个行业中，"金融及保险业"的升幅最高。相反，"信息及通信业"、"地 产业"及"住宿及膳食服务业"录得较大的跌幅。 越来越多香港中小企有出海意向 本次专题调查探讨香港中小企对未来营商环境的部署。面对当前贸易环境的不确定性，有近八成(78%) 受访香港中小企表示在未来一年会有不同的发展计 ...

一、报告期内门店变动情况 | 股票代码：600272 | 股票简称：开开实业 | | | | 编号：2025—025 | | --- | --- | --- | --- | --- | --- | | 900943 | | 开开 | B | 股 | | 上海开开实业股份有限公司 2025 年一季度主要经营数据公告 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、准确性和完整性依法承担法律责任。 上海开开实业股份有限公司（以下简称"公司"）根据《上海证券 交易所上市公司自律监管指引第 3 号—行业信息披露》附件《第四号 —零售》《关于做好主板上市公司 2025 年第一季度报告披露工作的重 要提醒》等有关规定的要求，现将公司 2025 年一季度主要经营数据 披露如下： 单位：万元 币种：人民币 分行业 营业收入 营业收入 比同期增 减(%) 营业成本 营业成本 比同期增 减(%) 毛利率 (%) 毛利率比同期增减 (%) 批发业 19,429.27 32.61 16,432.60 34.56 15.42 减少 1.23 个百分点 零售业 4,289.33 -2 ...

Group 1 - The CSI Hong Kong-Shanghai-Shenzhen Interconnection Information Industry Index reported a decline of 7.18% over the past month, an increase of 5.86% over the past three months, and a year-to-date increase of 5.89% [1] - The index is based on the comprehensive index samples of the CSI Hong Kong-Shanghai-Shenzhen Interconnection and the CSI Hong Kong-Shanghai-Shenzhen 500 Index, reflecting the overall performance of securities listed in the interconnection range across the three markets [1] - The index's top ten holdings include Alibaba-W (12.92%), Tencent Holdings (11.13%), Xiaomi Group-W (5.61%), China Mobile (3.41%), and SMIC (1.47%) [1] Group 2 - The industry composition of the index shows that electronics account for 23.66%, media for 18.51%, semiconductors for 18.24%, retail for 13.10%, and computer services for 11.13% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - In cases of delisting or corporate actions such as mergers or acquisitions, the index samples will be adjusted according to specific maintenance rules [2]

Core Viewpoint - The article highlights a significant increase in inbound tourism and shopping in China, driven by new policies aimed at enhancing the shopping experience for foreign tourists, particularly the "immediate tax refund" service [1][10]. Group 1: Inbound Tourism Growth - Inbound travel orders have increased by 173% year-on-year, indicating a strong recovery in tourism [1]. - The total expenditure of inbound tourists in 2024 reached $94.2 billion, reflecting a growth of 77.8% [10]. Group 2: Tax Refund Policies - The "immediate tax refund" service allows foreign tourists to receive tax refunds on-site, with a refund rate of 11% on most goods [2][10]. - The minimum threshold for tax refunds has been lowered from 500 yuan to 200 yuan, and the cash refund limit has been raised from 10,000 yuan to 20,000 yuan [1]. Group 3: Impact of "Immediate Tax Refund" Service - The implementation of the "immediate tax refund" service has led to a 22-fold increase in tax refund processing in pilot areas like Shanghai and Beijing, significantly outpacing the national growth rate [3][10]. - In the first quarter, Shanghai's tax refund sales reached 760 million yuan, marking an 85% year-on-year increase [9]. Group 4: Changing Consumer Preferences - Foreign tourists are increasingly shifting from traditional souvenirs to a wider range of products, including customized clothing and local specialties [12][15]. - The trend of immersive experiences is growing, with tourists willing to spend more on unique local activities [15][19]. Group 5: Retail and Market Dynamics - The number of tax refund stores in Shanghai has reached 587, with 284 offering the "immediate tax refund" service [9]. - The sales of clothing and footwear have become popular among tourists from countries like Singapore, South Korea, and Malaysia [8].

Core Viewpoint - The Chinese government is optimizing the departure tax refund policy to stimulate inbound consumption, aiming to fill a global demand gap of nearly $3 trillion caused by trade barriers and tariffs imposed by the U.S. [1][6] Group 1: Policy Changes - The new policy lowers the departure tax refund threshold from 500 RMB to 200 RMB, allowing foreign travelers to apply for refunds on purchases that meet specific criteria [2][3] - The policy expansion includes a wider range of products, such as traditional Chinese goods, cultural items, and high-quality local products, enhancing the shopping experience for international tourists [2][3] Group 2: Market Impact - In Q1 2025, Beijing's departure tax refund applications surged by 128%, with sales of refund-eligible products reaching 270 million RMB, doubling year-on-year [3] - Shanghai reported a significant increase in departure tax refund sales, totaling 760 million RMB in Q1 2025, marking an 85% year-on-year growth [3] - Chongqing's departure tax refund market also experienced rapid growth, with sales and refund amounts increasing nearly fivefold in Q1 2025 [3] Group 3: Consumer Experience Enhancements - The introduction of a multilingual departure tax refund guide and an electronic map for refund stores aims to improve the shopping experience for foreign tourists [4] - The government is promoting a "one-stop shopping" experience at major transportation hubs, integrating shopping and tax refund services to attract more international travelers [8][9] Group 4: Economic Opportunities - The potential increase in foreign tourist numbers due to the optimized tax refund policy is expected to boost retail sales, particularly from high-spending tourists [5][6] - The Chinese consumer market, currently valued at approximately $10 trillion, has a target to increase by $3 trillion over the next five years, presenting significant market opportunities [6]

21世纪经济报道记者周潇枭 北京报道 4月25日，中央政治局召开会议指出，要不断完善稳就业稳经济的 政策工具箱，既定政策早出台早见效，根据形势变化及时推出增量储备政策，加强超常规逆周期调节， 全力巩固经济发展和社会稳定的基本面。 4月28日，国新办举行新闻发布会，邀请国家发展改革委、人力资源社会保障部、商务部、中国人民银 行相关负责人出席，详解稳就业稳经济推动高质量发展的若干举措，主要包括五方面内容，分别是支持 就业、稳定外贸发展、促进消费、积极扩大有效投资、营造稳定发展良好环境等。 国家发展改革委副主任赵辰昕在发布会上表示，不管国际局势如何变化，将锚定发展目标，保持战略定 力，集中精力办好自己的事，对实现今年经济社会发展目标任务充满信心。下一步，将积极抓好若干举 措落实，同时还将常态化、敞口式做好政策预研储备，充分备足预案，不断完善稳就业稳经济的政策工 具箱，根据形势变化及时出台增量储备政策。 有接近有关部委的分析人士对21世纪经济报道记者表示，美国推出所谓"对等关税"，且高关税、科技打 压等政策存在反复，要以内部高质量发展的确定性来应对外部环境急剧变化的不确定性。扩内需是必须 要做的事情，因此相关政策会在 ...

重庆百货（600729）公告，2025年第一季度营收为42.76亿元，同比下降11.85%；净利润为4.75亿元， 同比增长9.23%。 ...

Group 1 - The core index, the CSI Hong Kong-Shanghai-Shenzhen Interconnection Small Comprehensive Consumer Index, reported a decline of 6.26% over the past month, 0.49% over the past three months, and 0.83% year-to-date, currently standing at 2521.90 points [1] - The index is categorized into 11 industries based on the classification standards of the CSI Hong Kong-Shanghai-Shenzhen index series, which includes the CSI 500 and other indices [1] - The top ten weighted stocks in the index include Sichuan Changhong (2.11%), Laopu Gold (2.07%), Gongxiao Daji (1.99%), Leap Motor (1.8%), Fuyao Glass (1.76%), Tongcheng Travel (1.55%), BAIC Blue Valley (1.46%), Bertley (1.45%), Great Wall Motors (1.45%), and Yonghui Superstores (1.43%) [1] Group 2 - The market share of the index's holdings is distributed as follows: Shenzhen Stock Exchange 43.43%, Shanghai Stock Exchange 34.15%, and Hong Kong Stock Exchange 22.42% [2] - The industry composition of the index's holdings includes: Passenger Cars and Parts 43.12%, Durable Consumer Goods 18.17%, Textiles, Apparel, and Jewelry 14.86%, Retail 12.63%, and Consumer Services 11.21% [2] - The index samples are adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2]

央广网北京4月28日消息（记者 宋雪）离境退税，是指境外旅客离境时，对其在退税商店购买的商品退 还增值税的政策。离境退税是国际通行的做法，目前已有包括欧盟、日本、新加坡、澳大利亚等在内的 50多个国家和地区实行。我国自2015年起全面推行离境退税政策，值此政策全面实施10周年之际，经国 务院批准，商务部会同财政部、文化和旅游部、海关总署、税务总局、中国民航局出台《关于进一步优 化离境退税政策扩大入境消费的通知》（以下简称《通知》）。 在国新办4月27日举行的新闻发布会上，财政部税政司司长贾荣鄂介绍，为支持境外旅客选购品种更多 的特色商品，《通知》将目前境外旅客同日同店购买退税物品金额达到500元才予以退税的规定，大幅 下调至200元即可退税。此外，为了满足境外旅客多样化的消费支付需求，优化离境退税支付服务，在 提供银行卡、移动支付、现金等多种退税服务方式的基础上，将现金退税金额由目前的1万元人民币上 调至2万元人民币，其他退税方式没有限额。 商务部副部长盛秋平介绍，近年来，我国有序扩大自主开放和单边开放，对38个国家实行了单方面免签 政策，对54个国家实行过境免签并将停留时间延长至240小时，推出了一系列入境 ...

零售板块盘初下探，国光连锁（605188）跌停，德必集团（300947）、国芳集团（601086）跌超8%， 步步高（002251）、吉峰科技（300022）、锦和商管（603682）跟跌。 ...