每月2场，每批次参访限15人 备受全国商业界关注的胖东来，即将向外界敞开大门。记者获悉，胖东来商贸集团将自2025年11月1日起，正式推出"企业开放日"，面向企业分享其备受 推崇的经营理念与管理方法。 值得注意的是，此次开放日并非免费"取经"，其收费标准为每人20000元。 胖东来称旨在带动共同进步 对于推出高门槛开放日的初衷，胖东来表示，希望将企业多年沉淀的先进理念、科学管理方法分享给价值观一致的同行。参与者可收获先进文化理念的思 想启迪、科学的企业经营模式和管理方法等多重价值。 此举旨在启迪更多企业走向健康科学的发展道路，带动整个行业的进步，为社会创造更多品质与文明。 来源：大河报 编辑：王伟 版权归原作者所有 如有侵权请及时联系 根据公布的方案，开放日活动定于每月10日与20日举办两场。为保证交流的深度与质量，每批次的参访人数被严格限制在15人以内，且同一家企业的预约 上限为5人；每月两场开放日合计参访人数不超过30人。 参访地点将覆盖胖东来旗下的产业园、天使城及时代广场等核心业态，让参与者能深入一线，直观感受其运营细节。另需注意，开放日如遇周二，将往后 顺延一日。 预约需审核，一年仅一次机会 想要获得 ...

Core Insights - The consumption market in Hainan is showing strong vitality and potential, with significant growth in various sectors such as retail, accommodation, dining, cultural sports, and travel during the first three quarters of 2025 [1] Retail Sector - The retail sector in Hainan is characterized by stable growth in traditional necessities, accelerated quality consumption, and popularity of tech products. Notably, the retail of staple foods saw a remarkable increase in invoiced amounts by 252.62% year-on-year [1] - Retail of fruits, vegetables, and meat products also experienced growth, with increases of 11.92%, 20.83%, and 20.83% respectively, indicating a solid foundation for essential consumer goods [1] - Upgraded consumption demands are evident, with retail of communication devices growing by 89.22% due to the demand for smart terminal updates, and bicycle retail increasing by 54.56% driven by green low-carbon travel concepts [1] - Other retail categories such as department stores and home appliances also saw significant growth, with increases of 33.77% and 36.81% respectively [1] Accommodation and Dining Sector - The accommodation and dining industry in Hainan is maintaining steady growth, with personalized and experiential accommodation demands being met, leading to a 14.72% year-on-year increase in invoiced amounts for homestay services [2] - In dining, the Chinese tea beverage sector has become a popular choice for leisure consumption, with tea house services seeing a remarkable growth of 96.49% [2] - Other beverage and cold drink services also grew by 21.66%, driven by seasonal consumption and expanded consumption scenarios [2] Travel Sector - The travel industry in Hainan is experiencing steady growth across different transportation modes. Railway passenger transport has shown significant performance with a year-on-year increase of 49.62%, facilitated by the convenience of the island's high-speed rail [2] - Air travel has also seen a growth of 19.09%, ensuring smooth access for domestic and international tourists [2] - Maritime passenger transport increased by 11.51%, with ferry services playing a crucial role in connecting the island with the mainland [2] Cultural and Sports Consumption - Cultural and sports consumption in Hainan has significantly increased, reflecting a release of residents' spiritual and cultural needs. Community cultural activities and mass events have driven a remarkable year-on-year growth of 377.74% in invoiced amounts for public cultural activities [3] - The rise in health awareness has led to a 42.73% increase in fitness and leisure activities [3] - The attractiveness of Hainan's tropical tourism resources continues to grow, with leisure sightseeing activities increasing by 20.17% [3] - Consumption related to the protection and inheritance of traditional culture has also progressed steadily, with a year-on-year increase of 24.59% in expenditures for cultural heritage protection [3]

说起经济内循环，这事儿现在闹得挺大的，尤其是这几年中美贸易摩擦加上全球疫情的影响，让咱们国家不得不把目光更多转向国内市场。 简单说吧，就是别老盯着出口，得让国内的生产、消费、流通这些环节自己转起来，形成一个大循环。这样一来，外头风吹草动的时候，咱自己家底子稳 当，不会轻易被拖累。 从2020年开始，中央就提这个双循环格局，到现在2025年，已经是经济工作的重头戏了。数据显示，过去四年内需对经济增长的贡献率平均达到86.4%，其 中消费支出占了56.2%，这说明内循环已经在发力，拉动经济的作用越来越明显。 要是真深陷内循环模式，什么东西最值钱？说白了，就是那些能直接刺激国内需求、提升生活水平的领域。 2018年中美贸易战打响，美国对咱们出口商品加关税，涉及几千亿美元，搞得很多制造业企业日子难过。2019年关税升级，还把华为拉进黑名单，供应链断 了链子。 2020年疫情一来，更是雪上加霜，全球经济停摆，中国出口增速从原来的两位数掉到个位数。中央一看不行，得自力更生，5月份政治局会议就提出以国内 大循环为主。 2021年十四五规划把扩大内需当战略基点，2022年又出扩大内需纲要，到2025年1月，国家发改委和财政部 ...

据高盛中国股票策略团队测算，中国上市企业的海外收入占比已从2018年的14%提高到目前的16%。相比之下，发达市场 与新兴市场企业的占比均值分别为53%、48%。中国上市企业的海外收入主要由汽车、零售和资本品行业带动，其全球收入份 额也在以每年0.4个百分点的速度增长。付思表示："在中国企业的比较成本优势和产品质量升级的支持下，这些趋势可能会延 续，有望为每股盈利趋势增速带来1.5个百分点的提升。" 本报讯 （记者毛艺融）10月20日，高盛中国股票策略团队在最新研报中提到，中国出口已实现了进阶演化，有关"中国出 口企业只是为发达市场消费者提供低成本、低附加值工业制品"的看法已然过时。中国正更多地以新兴市场作为最终出口目的 地，在全球高端制造业领域赢取更大份额，并且向世界出口服务、知识产权和文化。 （编辑 张昕） 高盛中国股票策略分析师付思表示，支持中国企业出海走向全球的因素来自多方面，包括具有竞争力的人民币汇率将在未 来几个季度继续为出口企业带来利好；得益于在关键原材料、产能和制造技术方面的领先地位，中国目前在全球供应链中占据 主导地位；中国产品在全球范围内兼具成本和质量的竞争力。 付思还提到，未来，中国出海 ...

Core Viewpoint - Weigao International (01173.HK) announced the renewal of a licensing agreement for its wholly-owned subsidiary, Colourmix Cosmetics, with Hong Kong Railway Company, effective from October 1, 2025, to September 30, 2028 [1] Group 1 - Colourmix Cosmetics will return all real estate rights and interests in the property to the owner, Hong Kong Railway Company, starting from September 30, 2025 [1] - Hong Kong Railway Company will grant Colourmix Cosmetics a license to use the property for retail and display of skincare, health, and cosmetic products under the "Colourmix Deluxe" brand [1]

Group 1 - The core viewpoint of the articles highlights that China's retail sales of consumer goods increased by 4.5% year-on-year in the first three quarters, with final consumption expenditure contributing 53.5% to economic growth, marking a 9 percentage point increase from the previous year [1] - The growth in consumer market size is attributed to the effectiveness of consumption-boosting policies, including the issuance of 300 billion RMB in special bonds to support the replacement of old consumer goods [1] - The retail sales of household appliances, cultural office supplies, furniture, and communication equipment under the old-for-new policy showed double-digit growth, with over 8.3 million applications for vehicle replacements by September 10 [1] Group 2 - Service retail sales grew by 5.2% year-on-year in the first three quarters, outpacing goods retail sales by 0.6 percentage points, driven by policies aimed at expanding service consumption [2] - Online retail sales increased by 9.8% year-on-year, with a continuous acceleration in growth since May, indicating a strong shift towards e-commerce [2] - Despite the growth in retail sales, the increase in consumer goods retail sales was lower than the overall economic growth rate, suggesting a need to enhance consumer willingness to spend [2] Group 3 - Future strategies should focus on stabilizing and expanding employment, promoting sustained growth in residents' income, and enhancing consumer capacity and willingness [3] - There is a call for more systematic and comprehensive measures to stimulate domestic demand and unleash consumption potential, emphasizing the importance of confidence in economic stability [3] - The overall economic performance has exceeded expectations this year, highlighting the need for correct guidance of expectations for businesses and residents to further boost consumption [3]

Core Insights - The "Su Super" football event in Nanjing has significantly boosted the local economy, creating a vibrant consumption ecosystem that integrates sports, nightlife, tourism, and retail [1][12] - The event has transformed match tickets into valuable assets, driving increased foot traffic and sales across various sectors in the city [9][10] Economic Impact - On the day of the semi-final, Nanjing's key commercial areas recorded a transaction amount of 7.8 billion yuan, a 5.4% increase compared to the previous week [3] - During the event, sales in major commercial districts reached over 10 billion yuan in a single day, with retail, dining, and accommodation sectors seeing significant growth [6][12] Consumer Behavior - Many fans, despite not securing match tickets, participated in the event by visiting "second venues" to watch live broadcasts, contributing to a lively atmosphere in various districts [4][10] - The "Su Super" event has encouraged families and tourists to engage in combined experiences of sports and local culture, leading to increased hotel occupancy rates by 5.7 percentage points year-on-year during the holiday period [7][9] Marketing and Promotions - The Nanjing government has launched promotional activities that allow ticket holders to enjoy discounts at local attractions, restaurants, and shopping centers, effectively converting spectator enthusiasm into consumer spending [9][12] - Various themed activities and markets have been organized around the matches, enhancing the overall experience for attendees and driving additional sales [6][10] International Engagement - The event has attracted foreign executives and international visitors, enhancing Nanjing's image as a vibrant city and fostering potential investment opportunities [12] - The integration of sports events with international business networking has positioned Nanjing as a hub for economic collaboration and cultural exchange [12]

Core Insights - The Shanghai Rolex Masters has achieved record ticket sales exceeding 100 million yuan and attracted approximately 250,000 attendees over 14 days, marking a significant milestone for the event [1] - The upcoming tennis town project, set to be announced in early 2025, aims to develop a 25 square kilometer area centered around the Qizhong Tennis Center, promoting local development in technology, tourism, transportation, and retail [1][3] Development of the Tennis Town - A strategic cooperation framework agreement was signed between the Minhang District government and Jiushi Group to establish the tennis town, which will consist of a central area focused on event venues, a core area with training schools and parks, and an outer area for various commercial activities [3] - The Qizhong Tennis Center has undergone renovations, adding a second roofed stadium and increasing the total number of courts to 25, positioning it as a suitable hub for the tennis town [3][6] Challenges and Opportunities - The tennis town faces challenges in achieving international standards, including the need for higher-level tennis events and the introduction of women's competitions [6] - The area surrounding the Qizhong Tennis Center has limited available land for development, with only 32 hectares available for the tennis town within a 1-kilometer radius [6][4] Infrastructure and Accessibility - Transportation remains a significant issue, with the Qizhong Tennis Center located over 30 kilometers from downtown Shanghai, complicating access for visitors [12] - Current public transport options are limited, but future developments, including the construction of metro lines, are expected to improve accessibility [13][12] Future Developments - The establishment of four ATP development centers aims to fill the training base gap in the central area, enhancing the overall tennis ecosystem [7][9] - Plans for additional facilities include high-end hotels, a comprehensive sports complex, and various recreational activities to support the tennis town's growth [9][10] Integration of Sports and Culture - The tennis town will incorporate diverse cultural and recreational offerings, including water sports, cultural experiences, and ecological tourism, to create a multifaceted destination [10][11] - The project aims to foster a holistic sports ecosystem that integrates tennis with technology, tourism, and retail, requiring several years of development to fully realize its potential [15]

2025 年特朗普政府力推的 "对等关税" 政策正将美国经济拖入成本高企的泥潭。 标准普尔全球发布的重磅报告揭开了残酷真相，受关税及多重经济因素叠加影响，全球企业今年的额外 损失将达1.2万亿美元，其中5920亿美元通过涨价直接转嫁给美国消费者。 这场以 "美国优先" 为旗号的贸易政策调整，最终演变成了一场对普通民众的财富收割，更是在不断的 发酵。 关税战的"陷阱" 雪上加霜的是企业实际产出持续下滑，形成 "花钱越多、买到越少" 的尴尬局面，消费者面临性价比大 幅缩水的困境。 关税政策的成本冲击波已全面席卷企业领域。 消费者群体内部的承压分化愈发刺眼。美联储理事沃勒声称关税影响主要由高收入家庭承担，但现实恰 恰相反。 标普的研究覆盖了全球85%的股市市值，基于9000家上市公司的数据分析显示，企业利润率已收缩 0.64%，对应9070亿美元的利润缺口。 沃尔玛、亚马逊等零售巨头首当其冲，不得不将三分之二的利润损失转嫁给消费者。 穷人生存遭到挤压 更严峻的是未被覆盖的中小上市公司及私募支持企业还将额外承担2780亿美元成本，且标普警告 1.2万 亿美元的增量成本仅是下限。 耶鲁预算实验室数据显示，低收入家庭年均 ...

Core Insights - The consumption sectors in Hainan showed significant growth in the first three quarters of 2025, particularly in retail, accommodation, dining, cultural, sports, and travel industries [1] Retail Sector - The retail market in Hainan demonstrated a trend of stable growth in essential goods, accelerated quality consumption, and increased demand for technology products. The retail sales of staple goods like grains and oils surged by 252.62% year-on-year [2] - Upgraded consumption demands were evident, with retail sales of communication devices increasing by 89.22%, and bicycles and similar transport equipment rising by 54.56% [2] - Retail sales of department stores and daily household appliances grew by 33.77% and 36.81% respectively, indicating a simultaneous rise in quality and convenience in daily consumer needs [2] Accommodation and Dining - The accommodation and dining sectors maintained steady growth, driven by personalized and experiential lodging demands, with the revenue from homestays increasing by 14.72% year-on-year [3] - Tea houses emerged as a new consumption hotspot, with revenue from tea services soaring by 96.49%, while other beverage services grew by 21.66% [3] Travel Sector - The passenger transport industry in Hainan experienced steady growth, with railway passenger transport revenue increasing by 49.62%, highlighting the convenience of the island's high-speed rail [4] - Air travel also saw a year-on-year increase of 19.09%, while maritime transport grew by 11.51%, indicating a robust influx of domestic and international tourists [4] Cultural and Sports Activities - Cultural and sports consumption in Hainan showed remarkable growth, with community activities and mass events driving a year-on-year increase of 377.74% in related revenues [5] - The rise in health awareness led to a 42.73% increase in fitness and leisure activities, while leisure sightseeing activities grew by 20.17% [5] - The protection and promotion of traditional culture also saw a steady increase, with revenues from cultural heritage preservation rising by 24.59% [5]