Core Insights - The rise of Yunnan-Guizhou cuisine in urban areas is attributed to its unique sour and spicy flavors, appealing to younger consumers [1][4] - A report by KPMG and local associations highlights the growth and trends in the restaurant industry within the Guangdong-Hong Kong-Macao Greater Bay Area [1][2] Industry Overview - The restaurant industry in China is projected to reach a revenue of 5.6 trillion yuan in 2024, with a year-on-year growth of 5.3% [1] - Guangdong's restaurant revenue is expected to hit 590.49 billion yuan in 2024, marking a 2.5% increase, which is 1.7% higher than the province's retail sales growth [2] Market Dynamics - The Greater Bay Area has a restaurant chain rate of 31.7%, significantly higher than the national average, indicating a trend towards chain and scale operations [2][3] - The region's restaurant market benefits from a dense population, strong consumer spending power, and supportive policies, leading to a diverse culinary landscape [2] Consumer Trends - Consumers in the Greater Bay Area are categorized into four groups: Generation Z, middle-to-high income individuals, consumers from Hong Kong and Macau, and urban seniors, each with distinct dining preferences [4] - The demand for quality, health, and personalized service is rising, particularly among Generation Z, influencing the market's direction [4][5] Capital and Expansion - Many restaurant brands in the Greater Bay Area have successfully gone public, with 17 local companies listed, showcasing strong regional competitive advantages in terms of asset scale and revenue growth [3] - The traditional brand Tao Tao Ju has expanded to 42 locations across major cities, demonstrating resilience and adaptability in a competitive market [3] Culinary Innovation - Yunnan-Guizhou cuisine's appeal lies in its diverse ingredients and health attributes, aligning with consumers' increasing demand for novelty and quality in food [5] - The Greater Bay Area's open culinary culture facilitates the acceptance and integration of new cuisines, leading to a more diverse and personalized dining experience [5]

多家餐饮企业在接受经济观察报采访时，均提及今年以来餐厅 商务消费人群数量下滑明显，导致餐厅内包间的人均消费出现 了15%—30%不等的下滑。 作者：田进 郑淯心 封图：图虫创意 花家怡园是北京的一家地域性连锁品牌，目前在北京运营着13家店铺。过去一年，其位于北京金 融街的两家餐厅（人均消费分别为300元和400元）中，一家因市场预期不乐观以及房租到期而关 停，另一家餐厅的人均消费也出现了较大幅度的下滑。北京金融街是中国金融业的核心，坐落着众 多金融机构。 花家怡园运营总监南金刚说，这两家餐厅"因包间消费兴起，也因包间消费回落"，餐厅均处于金融 街黄金地段，面积不大且以包间为主。近一年来，包间内消费总额以及人均消费金额逐步下滑，导 致餐厅利润逐步下滑。 包间商务高消费在下滑 今年上半年，小吊梨汤旗下多个门店的店长对众多商务宴请老顾客进行了回访。结果显示：一方 面，公司业务成交规模波动，导致客户商务宴请需求频次下滑；另一方面，部分客户所在公司裁 员，使得包间消费转向小型商务聚会。 包间消费高度依赖商务消费，因此也受到商务活动的影响。 以小吊梨汤位于西南三环的丽泽商务区的门店为例，该门店以小包间为主，拥有单独配置的 ...

Core Viewpoint - The newly released "Measures for Promoting and Managing the Catering Industry" aims to combat food waste in the restaurant sector, with specific guidelines set to take effect on June 15, 2025 [2][3]. Group 1: Industry Overview - The annual revenue of the national catering industry has reached 5.57 trillion yuan, accounting for over 11% of the total retail sales of consumer goods [2]. - There are over 10 million operating entities in the catering industry, which significantly contributes to the consumption of grains, meat, and vegetables [2]. Group 2: New Regulations - The new regulations focus on three main areas to reduce food waste: 1. Implementation of food waste reduction requirements for catering service providers in various scenarios [3]. 2. Encouragement of practices such as menu optimization, public utensils, takeout services, and rewards for minimizing waste [3]. 3. Increased responsibilities for industry associations in combating food waste [3]. Group 3: Practical Applications - Restaurants are adopting strategies to minimize food waste, such as offering half portions and encouraging customers to order appropriately [5][6]. - The "38 Bites Action Plan" introduced by Beijing Huaten Group aims to quantify meal portions based on average consumption, promoting responsible ordering [6]. - Various restaurants are implementing "just-in-time" inventory practices to reduce food spoilage and waste [8]. Group 4: Consumer Behavior Changes - There is a noticeable shift in consumer attitudes towards dining, with many preferring to avoid waste rather than showcase abundance [10]. - Initiatives like "clean plate" campaigns and rewards for minimizing waste are becoming popular among consumers [10][11]. Group 5: Long-term Implications - The measures to combat food waste may initially limit short-term sales but are expected to promote healthier long-term growth in the catering industry [11].

Group 1: Manufacturing Sector - The manufacturing PMI for May 2025 is reported at 49.5%, a 0.5 percentage point increase from the previous month, aligning with market expectations[2][4] - The production index rose to 50.7%, up 0.9 percentage points from last month, indicating a recovery in production activities[5][14] - New orders index increased to 49.8%, up 0.6 percentage points, reflecting improved demand conditions[5][14] - High-tech manufacturing PMI stands at 50.9%, while energy-intensive industries continue to decline, with a PMI of 47.0%[6][19] Group 2: Service and Construction Sectors - The service sector PMI slightly increased to 50.2%, driven by the "May Day" holiday effect, with significant activity in tourism and hospitality[31][32] - The construction sector PMI is at 51.0%, down 0.9 percentage points, indicating a slowdown in expansion due to housing demand constraints, although infrastructure projects are accelerating[35][36] - Special bonds issuance in May reached 443.2 billion yuan, significantly higher than April's 230.1 billion yuan, supporting investment in infrastructure[35]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In May 2025, the temporary easing of China-US trade negotiations led to the release of previously postponed production demand, driving the PMI to rise. However, there is still uncertainty about the tariff outlook, and the recovery of new orders is relatively slow. The domestic off - season effect is becoming more prominent, and the contribution of domestic demand to new order growth has decreased compared to April [3][9]. - For the bond market, the fundamental conditions still provide support. Considering the historical experience of trade frictions from 2018 - 2019, there may be fluctuations in subsequent tariff policy negotiations. The uncertainty of external conditions may affect expectations, production, and inventory - stocking intentions and rhythms. The "rush - to - export" elasticity in May is not significantly higher than that in April, and the year - on - year increase in May's exports may be lower than expected. In the traditional off - season, the potential for unexpected growth in domestic demand in May is limited, so the bond market is still supported. Attention should be paid to the data verification in June and potential "expectation gaps" [3][41]. 3. Summary by Directory 3.1 Manufacturing PMI: External Disturbances Ease, PMI Moderately Recovers 3.1.1 Supply and Demand: Tariff Disturbances Ease, Production Accelerates Recovery - In May, production increased by 0.9 pct month - on - month to 50.7%, returning to the expansion range. The easing of Sino - US economic and trade negotiations in mid - May slowed the decline in exports, and the demand for existing foreign trade orders was released in an orderly manner, accelerating the production and procurement rhythms compared to April. The procurement volume index increased by 1.3 pct month - on - month to 47.6%, and imports increased by 3.7 pct month - on - month to 47.1%, with the decline significantly narrowing [16]. - Demand stabilized in May, and new orders improved moderately. New orders increased by 0.6 pct month - on - month to 49.8% but remained in the contraction range. After the easing of trade negotiations, export orders recovered marginally, reducing the contraction of new orders. However, the difference between "new orders - new export orders" narrowed, and domestic demand orders decreased due to the off - season, which may limit the recovery of new orders [19]. 3.1.2 Foreign Trade: Negotiations Ease, New Export Orders are Concentratedly Released - In May, the easing of tariff negotiations led to the release of overseas order increments. New export orders and imports increased by 2.8 pct and 3.7 pct month - on - month to 47.5% and 47.1% respectively, with their elasticity restored. Combining the month - on - month changes in April and May, both were better than the same period in previous years, indicating a wider improvement in the foreign trade prosperity of manufacturing enterprises in May [26]. 3.1.3 Price: External Disturbances Narrow, Price Decline Slows - In May, the impact of the traditional off - season became more evident, and the prices of upstream bulk commodities remained weak, causing prices to decline slightly. The purchase price of raw materials and the ex - factory price both decreased by 0.1 pct month - on - month to 46.9% and 44.7% respectively. Although the price continued to weaken marginally, the narrowing of external disturbances slowed the price decline [31]. 3.1.4 Inventory: Increased Procurement Boosts Raw Material Replenishment, and Products are Rapidly De - stocked - In May, with the acceleration of procurement, raw material inventories increased, and downstream de - stocking accelerated. The easing of the negotiation situation accelerated the shipment of downstream exports, and finished product inventories decreased by 0.8 pct month - on - month to 46.5%. As the production rhythm recovered, the material procurement volume increased month - on - month, and raw material inventories increased by 0.4 pct month - on - month to 47.4% [35]. 3.2 Non - manufacturing PMI: The Drag of Real Estate Construction May Continue to Expand, and the Service Industry during the Holiday Season Shows Many Highlights - In May, the non - manufacturing PMI was 50.3%, a month - on - month decrease of 0.1 pct. Among them, the service industry PMI increased by 0.1 pct month - on - month to 50.2%, and the construction industry PMI decreased by 0.9 pct month - on - month to 51.0%, with the expansion continuing to slow due to the drag of real estate construction demand [36]. 3.2.1 Construction Industry - In May, the construction industry PMI continued to decline, while infrastructure demand further strengthened. The new export orders of civil engineering construction rose above 60%, significantly driving the industry PMI to climb for two consecutive months and reach above 62%. The easing of trade negotiations boosted the acceleration of overseas infrastructure investment to some extent. However, the overall construction industry PMI continued to decline, indicating that the activity rhythm of the housing construction industry may have further contracted in May [2][36]. 3.2.2 Service Industry - Holiday consumption boosted the improvement of the service industry PMI. In May, the expansion of the service industry PMI accelerated slightly. The production and new order indices of the information service industry maintained strong expansion. The release of consumption demand during the May Day holiday significantly increased the month - on - month PMI of railway, air, and water transportation industries. The accommodation and catering industries rose above the boom - bust line, ending three consecutive months of contraction [2][36].

Manufacturing Sector - The manufacturing PMI for May 2025 is reported at 49.5%, a significant increase of 0.5 percentage points from the previous month, aligning with market expectations[2][4] - The production index rose to 50.7%, up 0.9 percentage points from last month, indicating a recovery in production activities[5][14] - New orders index increased to 49.8%, up 0.6 percentage points, reflecting improved demand conditions[5][14] - High-energy industries continue to decline, with the PMI dropping to 47.0%, down 0.7 percentage points, indicating ongoing challenges in these sectors[6] External Trade - The new export orders index rose to 47.5%, a significant increase of 2.8 percentage points, indicating a recovery in export activities following tariff reductions[21] - The import index increased to 47.1%, up 3.7 percentage points, suggesting improved import conditions[21] Service Sector - The service sector PMI increased slightly to 50.2%, up 0.1 percentage points, remaining in the expansion zone, driven by increased tourism and hospitality activities during the May Day holiday[31] Construction Sector - The construction PMI is at 51.0%, down 0.9 percentage points, indicating a slowdown in expansion primarily due to weakened housing demand, although infrastructure projects are accelerating[35] - Special bond issuance has increased significantly, with 443.2 billion yuan issued in May, up from 230.1 billion yuan in April, supporting investment in infrastructure[35]

高技术制造业PMI连续四个月保持在扩张区间 5月份制造业PMI比上月有所回升。从13个分项指数来看，同上月相比，生产指数、新订单指数、新出口订单 指数、积压订单指数、采购量指数、进口指数、原材料库存指数、从业人员指数和生产经营活动预期指数上 升，指数升幅在0.2至3.7个百分点之间。 产成品库存指数、购进价格指数、出厂价格指数和供应商配送时间指数下降，指数降幅在0.1至0.8个百分点之 间。 中国物流与采购联合会特约分析师张立群表示，生产指数、采购量指数、新订单指数均出现回升，表明在多项 政策综合效应下，企业预期趋向改善，生产经营活动有回暖迹象。 制造业PMI数据出炉。 5月31日，国家统计局服务业调查中心和中国物流与采购联合会发布数据显示，5月制造业采购经理指数（制造 业PMI）为49.5%，综合PMI产出指数为50.4%，分别比上月上升0.5和0.2个百分点，均比上月改善。非制造业 商务活动指数为50.3%，今年以来连续保持在50%以上，保持扩张。 分析认为，5月份制造业PMI指数出现回升，表明加紧实施更加积极有为的宏观政策综合成效已开始显现，非 制造业继续在扩张区间平稳运行，细分指数变化显示，投资、消费 ...

文 | 赵伟、屠强 联系人| 屠强、耿佩璇 摘要 2024年城镇就业人员的工资数据新鲜出炉，哪些领域在"涨薪"、哪些领域"反内卷"？工资数据背后，有 何就业"新趋势"？本文梳理，供参考。 趋势一：就业从"追求高薪"转向"反内卷"。 2024年，城镇非私营单位的平均工资增速放缓，但交运、轻工纺服等行业工资得益于营收增长的直接拉 动，仍保持较高增速。 城镇非私营单位就业人员的年均工资增速自2021年回落6.8pct，目前降至2.8%。 但交运、皮革制鞋、服装等行业工资增速分别较2021年回落4.8、上行21.8、15.6pct。行业工资表现较 好，更多是营收的直接拉动，譬如2024年交运业的营收增速超8%。 不同于2019年前就业人员向"高薪"行业集中，2021年后就业更多向工作时间短、时薪高的行业迁移，就 业倾向"反内卷"。 2015-2019年年均工资较高的金融、信息技术服务业的就业占比上行0.6、1.3pct。而 2021年后就业向工作时长短的行业流入，且这些行业时薪"被动"提高；如2021-2023年，卫生业的周工作 时长减少1.5小时，时薪增加9.3元/小时，就业占比上行0.2pct。 目前交运、居民服 ...

《失业保险政策》提出，符合条件的失业保险参保单位可申请失业保险稳岗返还。返还标准为大型企业 按企业及其职工2024年度实际缴纳失业保险费的30%返还；中小微企业、社会团体、基金会、社会服务 机构、律师事务所、会计师事务所、以单位形式参保的个体工商户按60%返还。 不仅如此，5月初，云南省人力资源和社会保障厅、省财政厅发布《2025年云南省特色优势产业急需紧 缺职业（工种）目录（第一批）》，涉及100个职业（工种）。同时又印发了《云南省高原特色农业技 能提升培训专项行动实施方案》《云南省文旅产业技能提升培训专项行动实施方案》等6个实施方案， 开展6大特色优势产业技能提升培训专项行动。 云南省就业局主办的云南公共就业服务网统计分析显示，2025年一季度， 云南省人社部门901家失业动 态监测企业就业人数36.5万人。分行业来看，3月份减员幅度最大的前5个行业分别是：批发和零售业减 员1.16%，教育减员0.86%，住宿和餐饮业减员0.42%，建筑业减员0.34%，金融业减员0.26%。 对比云南省公共就业服务网此前发布的统计分析，目前的就业人数相比2023年和2024年已经有所下降。 今年以来，云南深入实施就业优 ...

5月28日上午，由北京商报社、《中外企业文化》杂志社主办的"2025深蓝媒体智库年度论坛"主论坛在北京国际饭店举行。 主论坛上，北京日报社副总编辑李学梅出席并致辞。她表示，专业媒体在促进国内消费进程中肩负着特殊使命。深蓝智库的建设顺应了用户对财经、媒体、 资讯、信息、服务的新需求，是媒体融合发展转型的积极探索。 2025深蓝媒体智库年度论坛以"创新消费力 统一大市场"为主题，首次采用"主题+专题"模式，同步设置"未来旅游""酒业文化""餐饮产业"三场专题论坛，聚 焦旅游业、酒业、餐饮产业的高质量发展路径，并重磅发布6份深蓝智库年度报告，涵盖消费金融、人形机器人、文化出海等热点领域。来自产学研媒政各 界的数百位嘉宾齐聚一堂，共同探索提振消费、激活民营经济、推动创新融合的实践方案。 李学梅在致辞中表示，此次论坛的举办不仅为消费市场的高质量发展提供了思想碰撞与实践指南，为各界精英搭建了一个交流思想、分享经验、共商发展的 高端平台，更通过"主题+专题"模式、跨界资源整合、智库成果落地等诸多形式，深入探讨了消费、旅游、酒业、餐饮等领域的前沿热点问题，为推动各产 业高质量发展提供了有益的思路与建议，彰显了媒体智库在新时代 ...