第三，免签政策放开释放外来消费增量。上海持续优化入境游政策，依托《全面推动上海旅游业高质量 发展三年行动计划 （2025—2027 年）》，落实免签政策及口岸外国人团体旅游签证政策，升级通关、 支付、免税退税等便利化举措，并开发"航空+铁路""机票+邮轮" 等多元化入境游产品。政策红利下， 前三季度上海入境旅游人数同比增长 37%，浦东、虹桥国际机场旅客吞吐量持续攀升，入境游客的回 流直接拉动文旅、餐饮、零售等相关消费。国庆中秋假期期间，上海文旅市场尤为火爆，"上海之 夏""旅游节" 等活动进一步集聚人气，形成 "外来消费"与"本地消费"的联动增长，为消费经济带来显著 增量。 第四，去年基数相对较低凸显增长效应。去年上海消费市场处于恢复调整阶段，整体基数相对较低。 2025年以来，随着消费场景全面恢复、政策效应持续释放，消费市场进入"恢复性增长+结构性升级"的 双重通道，低基数效应进一步凸显增长态势。 10月22日，上海发布2025年前三季度经济数据。从消费板块指标来看，上海消费市场呈现"持续回暖、 活力增强"的势头。前三季度上海社会消费品零售总额同比增长4.3%，虽略低于全国4.5%的平均增速， 但在五个国 ...

Market Overview - Netflix and Texas Instruments reported weak performance, exacerbated by escalating global trade tensions, dampening risk appetite. The sell-off in "momentum stocks" continues, with the Nasdaq leading declines among major U.S. indices [1] - The 10-year U.S. Treasury yield fell for the third consecutive day, down 0.58 basis points. The dollar ended a three-day rise, initially gaining before dropping 0.36% from its daily high. Bitcoin retraced all gains from the previous day, falling below the $108,000 support level [1] - Gold experienced significant volatility, dipping close to $4,000 before fluctuating widely, with a daily range of 3.7%. Silver also declined but found support at $48 [1] Key Company News - Tesla's Q3 revenue rebounded significantly due to the expiration of tax credits, but earnings fell 31% due to tariff impacts exceeding $400 million. The company reported a 12% increase in revenue compared to the previous quarter, with automotive revenue reaching a two-year high [2][17] - SAP, Europe's largest software company, reported Q3 cloud revenue below expectations, leading to a 4% drop in stock price post-announcement. The company maintained its growth outlook for 2025, expecting cloud revenue at the lower end of its guidance [3][18] - IBM's Red Hat business growth has slowed, causing investor concerns and a 5% drop in stock price after the earnings report, despite overall revenue and EPS exceeding expectations [4][18] - Wall Street is experiencing its strongest earnings season in four years, with 85% of S&P 500 companies exceeding profit expectations, the highest ratio since 2021 [5][19] Industry Insights - The secondary lending market is facing turmoil, with PrimaLend filing for bankruptcy, highlighting pressures in the low-income consumer sector [19] - Gold ETF holdings reached a three-year high, following a significant drop in gold prices, attributed to a crowded long position among traders leading to a technical sell-off [20] - The U.S. Federal Reserve is considering reducing bank capital requirements from 19% to a minimum of 3%, which could significantly impact large banks' capital levels [22] - The Chinese stock market is expected to enter a prolonged upward phase, with key indices projected to rise by 30% by the end of 2027, driven by earnings growth and potential revaluation [25]

转自：北京日报客户端 ▶今日天气 今天是霜降节气，早晨有轻雾，山区伴有雨夹雪或零星小雪，白天阴转多云，北转南风二三级，最高气 温13℃。 夜间多云，南转北风一二级，最低气温3℃。 未来三天天空云量较多，早晚气温较低，请及时添衣保暖，谨防呼吸道和心脑血管疾病。 ▶尾号限行 2和7 ▶ 今年北京已完成27项市级疏堵工程！崇内大街将打通瓶颈点 2025年北京计划完成30项市级疏堵工程，截至目前已完工27项，包括京港澳高速杜家坎缓堵综合治理等 项目。正在推进的还有崇文门内大街（同仁医院门前）瓶颈段拓宽改造、建国路南辅路（国贸桥至四惠 桥）交通组织优化等项目，计划年内完工。 ▶ 年底开工，地铁亦庄线将与5号线直连直通，为宋家庄站减压 10月22日，北京市基础设施投资有限公司公示了《北京轨道交通亦庄线至5号线、10号线联络线工程环 境影响报告书》全文。根据报告书，亦庄线至5号线、10号线联络线工程计划在2025年底开工建设。项 目建成后，地铁亦庄线将与5号线直连直通运营，与10号线上行方向同台换乘，预计宋家庄站每日约7.1 万人次可不再换乘。 记者10月22日获悉，本周，物美将迎来7家"胖改"店集中开业，进一步织密京城便 ...

Market Overview - Netflix and Texas Instruments reported weak earnings, exacerbated by escalating global trade tensions, dampening risk appetite. The Nasdaq led declines among major U.S. indices [3] - Apple ended its consecutive gains, dropping 1.64%. Google's quantum chip "Willow" achieved a significant breakthrough, causing quantum computing stocks to plummet, with QBTS down 15% and RGTI nearly 10% [3] - The 10-year U.S. Treasury yield fell for the third consecutive day, down 0.58 basis points. The dollar ended its three-day rise, fluctuating throughout the day [3] - Bitcoin retraced all gains from the previous day, falling below the $108,000 support level, while Ethereum dropped 5% [3] - Gold experienced a wide fluctuation, initially dropping close to $4,000 before stabilizing, with a daily range of 3.7% [3] Company News - Tesla's Q3 revenue rebounded significantly due to the expiration of tax credits, but earnings fell 31% due to tariffs impacting over $400 million [5][20] - SAP, Europe's largest software company, reported Q3 cloud revenue below expectations, leading to a 4% drop in stock price post-announcement [6][21] - IBM's Red Hat business growth slowed, causing a 5% decline in stock price after the company reported Q3 earnings that exceeded Wall Street expectations but disappointed in high-margin software and cloud services [7][21] - 85% of S&P 500 companies exceeded earnings expectations in what is being termed the strongest earnings season in four years [8][21] Industry Insights - The secondary lending market is experiencing turmoil, with PrimaLend filing for bankruptcy, highlighting stress in the low-income consumer sector [22] - Gold ETF holdings reached the highest level since 2022, following a significant drop in gold prices, indicating a volatile trading environment [22][23] - Goldman Sachs noted that the recent gold price drop was primarily due to an overcrowded long position after nine weeks of gains, suggesting a potential buying opportunity if the market stabilizes [23] - The Federal Reserve is considering reducing bank capital requirements from 19% to a minimum of 3%, which could significantly impact the banking sector [25] Technology Developments - Google's quantum chip "Willow" achieved a major breakthrough, running a new algorithm that is 13,000 times faster than the world's strongest supercomputer, with practical applications expected within five years [28][30] - AI is significantly enhancing efficiency in e-commerce, with Alibaba's AI tools improving click-through rates and return on investment for merchants [11][27] - The introduction of a new multi-functional warehouse robot by Amazon aims to streamline operations and could save the company up to $4 billion by 2027 [36] Economic Context - The U.S. government shutdown has entered its 22nd day, potentially leading to a temporary rise in unemployment rates [26] - Japan's exports grew by 4.2% in September, marking the first rebound in five months, driven by a weaker yen [33] - High City Sawa's government is preparing a significant economic stimulus plan, potentially exceeding 13.9 trillion yen, to address inflation and promote growth [33]

Core Insights - The Chinese consumption market is expected to maintain steady growth in the fourth quarter, with the overall market projected to exceed 50 trillion yuan this year [1][5][6] Group 1: New Consumption Trends - The demand for gold and diamond jewelry has surged, with sales of gold pendants and bracelets doubling year-on-year, and diamond necklace sales increasing over five times [2] - Online retail sales have shown a robust growth of 9.8% year-on-year in the first three quarters, with the growth rate accelerating since May [2] - New retail formats such as warehouse membership stores and unmanned stores have seen double-digit growth, reflecting the evolving consumer preferences for quality and personalized experiences [2] Group 2: Policy Impact on Consumption - The "old-for-new" policy has positively influenced sales in home appliances and electric vehicles, with home appliance sales growing over 25% year-on-year and new energy vehicle sales surpassing 8.5 million units, up 24.4% [3] - The government is encouraged to implement targeted policies to stimulate consumption, particularly for low-income groups and rural residents, to enhance overall consumer capacity [6] Group 3: Service Consumption Growth - Service consumption is becoming a significant driver of overall consumption growth, with policies aimed at expanding service consumption and optimizing service supply [4] - The "Buy in China" initiative and the effectiveness of the tax refund policy for outbound tourists are contributing to increased inbound consumption [4] Group 4: Future Outlook - The consumption market is anticipated to continue its upward trajectory, with experts suggesting that domestic demand will play a more prominent role in economic growth [5][6] - The focus of policies should shift towards enhancing living standards and promoting sustainable consumption growth mechanisms [6]

据九派新闻10月21日报道，于东来发文称："为了方便企业家学习、正在规划方案！哪个企业家想让我个人直接分享交流、时间安排三个小时左右、每次 五十万元费用！每月最多一次！费用全部用于传播美好之路！"随后，其还发文称："还会有免费的，我在网上与大家直播分享交流。" 于东来在社媒连续发文，除分享胖东来理念外，还表示"正在规划明年由联商学院组织收十个以内的企业家到胖东来学习、每年二到三次、两天的交流活 动！每人费用100万元！收入费用全部用于传播美好之路！" 据九派新闻报道显示，想要获得这一学习机会，企业需要通过线上预约和资质审核。预约通道定于每月1日和11日上午10点开启。 因为胖东来独特的管理模式和经营模式，引发了众多零售企业的"胖改"风潮，企业争先恐后赶赴胖东来学习，于东来此次发文宣布交流收费，也就是说此 后企业想要前来学习必须要买"门票"了，此事一出迅速引发行业强烈关注，也引发了争议，有观点指出收费提高学习门槛可以理解，也有网友指出胖东来 是否变得"自私自利"？ 据极目新闻等媒体报道，胖东来刚刚因为把一个工作12年的老员工开除引发诉讼上了热搜，胖东来依据公司《管理制度》中的"未及时接待顾客"条例，将 刘霞解雇 ...

朝阳区是首都的经济大区和消费大区，也是北京国际消费中心城市建设主承载区，肩负引领消费升级、 服务首都发展的重要使命。当前，朝阳区正汇聚全球资源，全面实施《朝阳区推进国际消费中心城市主 承载区建设提质升级三年行动计划（2025—2027年）》，高标准打造具有全球影响力的消费活力之城。 这个10月，朝阳区以光影为笔，描绘世界级夜游场景，添彩国际消费中心城市图景。 "潮朝阳夜精彩"，越夜越精彩 2023年至2025年，朝阳区连续3年以亮马河国际风情水岸、国际灯光秀等特色IP为主线，推出多元光影 场景和文商旅体系列活动，串联文化、商业、旅游、体育等元素，通过场景重构、业态创新和资源共 享，构建夜间消费新图景，不断增强群众的获得感、幸福感，成为朝阳区激发消费潜能、建设消费活力 之城的生动实践。 华灯初上，53处光影场景点亮城市夜空。2025北京朝阳国际灯光消费季延续"潮朝阳夜精彩"恒定主题， 并以"Together! We Shine! 一起闪耀"为年度特色主题，以亮马河文化经济带与奥林匹克中心区为两大阵 地，联动三里屯、CBD等六大片区，打造"不夜朝阳"城市夜游盛景。 时尚之城：汇聚消费品牌，擦亮国际化消费名片 在品 ...

Core Insights - The article emphasizes the transformation of commercial districts into comprehensive experience spaces that integrate culture, dining, and design, moving beyond traditional shopping models [1][2] - It highlights the importance of emotional and experiential value in consumer behavior, suggesting that modern consumers are willing to pay for experiences rather than just products [1][2] Group 1: Commercial Districts - Commercial districts are evolving into cultural and vibrant spaces, combining shopping with artistic and culinary experiences to attract consumers [1] - The integration of local cultural elements into commercial offerings enhances consumer engagement and loyalty, driving diverse business development [2] Group 2: Consumer Behavior - Consumers are increasingly seeking emotional connections and cultural expressions in their shopping experiences, viewing commercial spaces as platforms for identity and memory [2] - Successful commercial entities are those that resonate with consumer emotions and cultural nostalgia, thereby enhancing the overall value of the shopping experience [2]

Group 1 - The "Golden Reputation" event in Shenzhen aims to honor businesses and individuals committed to integrity and strong performance, with over 15,000 registrations already received [1] - The event, initiated in 2023, has seen significant participation in its first two editions, with nearly 20,000 entities registering [1] - Awards will be given in various categories, including "Top Ten Golden Reputation Figures," "Top Ten New Stars," and "Hundred Golden Reputation Enterprises," with a new category for young leaders under 35 years old [1] Group 2 - Eligible participants include state-owned, collective, private, and foreign-invested enterprises registered in Shenzhen, as well as individual businesses operating for over three years [2] - The registration deadline is October 24, and interested parties can sign up through the "Shenzhen Evening News" or "Shenzhen Integrity Business Promotion Association" official accounts [2]

在随后召开的协商座谈会上，市住建局、商投局相关负责人分别就各自领域工作及下一步计划进行了汇报，与会政协委员结合所见所闻踊跃发言、建言献 策。大家一致认为，打造现代消费商圈是激发市场活力、拉动经济增长、提升市民生活品质的关键抓手。当前，灵武市在商业载体建设、消费环境优化等 方面取得了一定成效，但仍存在没有商业综合体、业态布局不够合理、特色亮点不够突出、配套设施不够完善等问题。要结合城市发展定位和人口分布特 点，推动传统商业与新兴业态深度融合，加快完善商圈及周边交通、停车、休闲等基础设施建设，优化消费环境、提升消费体验，突出品牌培育，支持本 土商业品牌做大做强，积极引进知名品牌、连锁企业和特色商户，增强商圈核心竞争力，以商圈升级引领消费升级，为灵武市经济社会高质量发展注入强 劲动力。 10月22日，市政协主席杨文炯带领部分政协委员，就"集合打造城区现代消费商圈，引领提升全社会消费水平"开展视察调研和协商议政。 委员们一行先后深入辰坤生鲜市集购物中心、开元街道片区公共空间改造提升项目现场，以及天天易购生活超市、崇兴镇商贸服务中心等地，通过实地查 看、现场询问等方式，详细了解各商业载体的运营管理、业态布局、消费引流、 ...