Group 1 - The market is entering a critical window for cross-year layout, with expectations for A-shares to resonate upward with global markets by 2026, focusing on "technology + overseas expansion" as a continuing theme [1][2] - Current market conditions are characterized by narrow fluctuations, influenced by external factors such as concerns over the AI bubble in the US and interest rate hikes by the Bank of Japan [2][3] - Investor sentiment has recently dropped below 70, indicating a pessimistic outlook that may lead to a slight recovery in sentiment and upward market fluctuations [2] Group 2 - Industry allocation strategies include focusing on high dividend stocks, cyclical sectors, and thematic hotspots such as Hainan's duty-free shopping and nuclear power [2][4] - The anticipated "cross-year-spring" market rally is supported by early policy implementation and increased institutional investment in broad-based ETFs [4][5] - The potential for a structural outperformance in sectors like brokerage and technology is expected, driven by upcoming monetary policy changes and market liquidity improvements [7][8] Group 3 - The ongoing appreciation of the RMB is expected to influence asset allocation, with approximately 19% of industries likely to see profit margin improvements due to currency appreciation [3] - Key sectors benefiting from policy support include AI, aerospace, and innovative pharmaceuticals, while cyclical sectors like chemicals and energy metals may also see positive impacts [6][9] - The market is expected to experience a "spring rally" driven by favorable valuation levels, liquidity conditions, and catalysts that enhance risk appetite [6][12] Group 4 - The outlook for 2026 suggests a shift from a single narrative to a broader focus on physical demand and domestic policy benefits, with sectors like AI and consumer services poised for recovery [10][13] - Non-bank financials are highlighted as having significant earnings elasticity, while sectors like electric equipment and machinery are expected to benefit from AI investments and export demand [13][14] - The market is currently in a phase of adjustment before the anticipated cross-year rally, with a focus on structural opportunities aligned with policy directions and industry trends [11][14]

本报讯 2025中国国际旅游交易会19日在海南国际会展中心启幕。在"阳光海南"展区的海口馆内，海口 秀英区精彩亮相。 在现场，海南长影奇幻乐园、海口火山口公园、海南热带野生动植物园、cdf海口国际免税城等企业代 表齐聚展台，通过丰富的展示与互动，向来自全球的旅业伙伴与观众生动呈现了秀英"山海相依、活力 时尚"的独特魅力。 cdf海口国际免税城的展台前，咨询购物与洽谈合作的嘉宾络绎不绝。海口市国家帆船基地公共码头则 通过影像与模型，展现了秀英滨海的动感与活力，令人向往。荣山寮村展台则以一幅浓郁的渔村风情画 卷吸引了人们的目光。展台设计巧妙地融入了渔船、渔网、贝壳等海岸元素，通过新生代摄影作品的对 比，生动讲述了这个渔村的历史变迁与时尚潮流生活。 海南长影奇幻乐园也为展会增添了欢乐氛围，精彩的演艺节目轮番上演，并推出三大优惠亮点为现场观 众带来增值体验，同时凭参展证在展台参与打卡拍照，即可享受免首道门票福利。记者 苏钟 记者看到，海口火山口公园通过图文并茂的形式生动演绎万年地质奇观，其展位陈列的可爱"火山公 仔"系列文创品，吸引了众多观众驻足互动，踊跃参与活动赢取特色纪念品。 一旁的海南热带野生动植物园展示区同样 ...

Core Viewpoint - Harbin Central Street enhances visitor experience with new amenities and features, emphasizing warmth and comfort during the winter season [1] Group 1: Visitor Amenities - The creative lighting display on Harbin Central Street will be illuminated daily at 4:30 PM, creating a romantic atmosphere for visitors [1] - Upgraded anti-slip mats have been installed, along with shoe-cleaning brushes for snow removal, enhancing visitor safety and convenience [1] - New heating devices, including rows of warm stoves, have been introduced to keep visitors warm and create a closer connection among them [1] Group 2: Tourist Services - The International Tourism Distribution Center at the northern end of Central Street offers free luggage storage services, allowing tourists to explore without worry [1] - The new winter season in Harbin is characterized by a passionate approach to redefining the warmth associated with its ice and snow attractions [1]

日，哈尔滨市公安局香坊分局成高子派出所民警向景区工作人员宣讲安全知识。石林摄 进入冬季，位于黑龙江省哈尔滨市香坊区的伏尔加庄园银装素裹，俄式城堡与冰雪雕塑相映成趣，童话 世界般的景致吸引着全国各地游客。 转自：公安部新闻传媒 哈尔滨伏尔加庄园迎来客流高峰 "警景融合"守护冰雪奇缘 近 在景区冰雪游乐项目区域，香坊分局民警蹲在大滑梯旁，徒手按压滑梯边缘检查稳固性，又仔细查看雪 道两侧的防护栏是否牢固。"冰雪设施受温度影响大，每天都得反复查，一点都不能马虎。"执勤民警付 子昂用测温仪检查游乐设备关键部位，随后又拿起灭火器，查看压力指针是否在正常范围，认真核对设 备维护记录。在餐饮区和商铺，民警逐一查看商家用电用火是否规范、疏散通道是否畅通，对发现的安 全警示标识缺失、电线裸露等问题，当场提出整改意见，建立台账实行销号管理。此外，民警还叮嘱景 区负责人定期开展消防安全培训和应急演练，提升员工安全防范意识和应急处置能力。 冰雪旅游旺季，游客数量激增，小摩擦、小纠纷时有发生。针对这一问题，香坊分局推行"三步调解 法"，高效化解各类矛盾纠纷，让游客玩得舒心、游得安心。 "第一步稳情绪，第二步理责任，第三步提方案。"近日， ...

宏村镇位于安徽省黄山市黟县，坐落于黄山西南麓，始建于南宋绍熙年间，绵延至今已有900余年，是以徽派建筑为特色的古村落。 作为世界文化遗产的宏村每年都是各美院必去的写生之地之一。来自天南地北的学子、画家将徽派建筑尤其是代表性的马头墙画在画板上，画笔与自然、 艺术与村落交融，宏村也因此被誉为"画里乡村"。 主要景点 「 粉墙黛瓦 玉砌雕栏 」 宏村以明、清古民居而闻名遐迩，白墙黛瓦，鳞次栉比，尽显古韵悠扬。 全村现保存完好的明清古民居有140余幢，从村外自然环境到村内的水系、街道、建筑，甚至室内布置都完整地保存着古村落的原始状态。 敬德堂是宏村明末清初民居的代表作，在这里可以了解普通商人的生活情况和徽州明、清建筑的格局。 「 南湖春晓 书院诵读 」 进村必经的南湖呈弓形，湖中画桥将湖水分隔东西，徽州古民居倒映水中。 「 月沼风荷 牛肠水圳 」 月沼为半月形池塘，水常年碧绿，塘面水平如镜，塘沼四周青石铺展。 水圳总长1268米，绕过家家户户、长年清水不断。 月沼和水圳共同构成了宏村独特的牛形水系——以山为"牛头"，引水入村，水圳为"牛肠"，利用自然落差排水，将水分流至"牛胃"月沼。这一"自来水"系 统让水流几乎能够 ...

12月19日，游客在黑龙江省海林市"中国雪乡"景区游玩。近年来，雪乡通过整合自然景观与特色活动，打造集观光、娱乐、文化于一体的冰雪旅游生态， 吸引游客前来感受北国风光的独特魅力。 袁新宇摄（中经视觉） （来源：经济日报） 转自：经济日报 ...

Core Viewpoint - The opening of the "Flower Blooming in Linxia" night city in Linxia City, Gansu Province, has generated significant public interest and engagement, with over 192,600 visitors on its first day, indicating a strong demand for cultural tourism in the region [1][3]. Group 1: Project Overview - The "Flower Blooming in Linxia" night city covers over 48 acres and features themed buildings based on Tai Zi Mountain and Phoenix Mountain landscapes, along with over 1,400 underground parking spaces [3]. - The project includes three themed squares, four distinctive gates, 16 performance stages, and over 80 immersive consumption scenarios, designed to cater to a wide range of visitor experiences [3]. Group 2: Cultural Integration - The night city integrates local cultural elements, such as the "Flower of the River" and "Colorful Pottery" heritage, into its design, allowing visitors to experience local history and cuisine [3]. - The project aims to provide a variety of entertainment options, including folk songs and dances, intangible cultural heritage exhibitions, and interactive performances, appealing to all age groups [3]. Group 3: Economic Impact - The establishment of the night city and the sports park is part of a broader strategy to create a new cultural tourism framework in Linxia, enhancing the local economy and promoting night tourism [3][4]. - The local government plans to launch 42 series of activities focusing on promotion, tourism experience, cultural performances, winter sports, and sports events to further boost visitor engagement [4].

Core Viewpoint - The Ming Tombs, specifically the Jingling tomb, is set to open for public reservations, enhancing the cultural tourism experience in Changping District and promoting the historical significance of the Ming Dynasty [1][2]. Group 1: Cultural and Historical Significance - The Jingling tomb, built in 1435, is the joint burial site of Emperor Zhu Zhanji and Empress Sun, covering approximately 25,000 square meters and featuring well-preserved historical structures [1][2]. - The tomb reflects the "Renxuan Prosperity" era, showcasing the architectural ingenuity of the Ming Dynasty through its unique design and layout [1][2]. Group 2: Tourism and Accessibility - Visitors can now book visits to the Jingling tomb starting December 22, with reservations available through the "Changping Cultural Tourism Group" WeChat mini-program and Douyin [1][2]. - The opening of Jingling tomb adds to the existing accessible tombs, including Changling, Dingling, Zhaoling, Kangling, Yongling, and Siling, with plans to expand public access to all main tombs by 2030 [2].

Core Viewpoint - The announcement by the Hebei Provincial Culture and Tourism Department confirms the addition of 18 new tourist attractions as national 4A-level scenic spots, with two located in Tangshan, namely the Lanyue Bay Tourist Area and the Tangshan Science and Technology Museum [1] Group 1: New Scenic Spots - The Lanyue Bay Tourist Area is situated in the Caofeidian District and aims to create a coastal tourism destination that integrates leisure, entertainment, and sightseeing [1] - The Tangshan Science and Technology Museum, located in the Lunan District, serves as an important venue for public science education and showcasing technological achievements, particularly targeting young audiences [1] Group 2: Implications for Local Tourism - The successful upgrade of these two scenic spots signifies progress in enhancing the quality of tourism attractions and the high-quality development of cultural tourism integration in the region [1] - This development is expected to enrich the local tourism product system and support the upgrade of the regional cultural tourism industry [1]

（编辑 袁冠琳） 证券日报网讯 12月18日，西域旅游在互动平台回答投资者提问时表示，公司股价受宏观经济、行业政 策、市场投资偏好、经营生产等多重因素影响。公司生产经营正常，不存在应披露未披露的重大信息。 公司将努力做好经营工作，力争以良好的业绩回馈投资者。 ...