2月2日，商务部等九部门印发《2026"乐购新春"春节特别活动方案》（以下简称《方案》），提出六方 面活动内容和五大支持措施，旨在繁荣节日市场、丰富群众文化生活、激发假期消费活力，打造全域联 动、全民乐享的春节消费盛宴。中国消费经济学会副理事长，北京工商大学商业经济研究所所长、教授 洪涛表示，春节是具有综合性消费的节庆，2026年春节有9天时间，也是中国春节申遗成功的第二年， 具备更大规模和更大范围促消费的潜力，加上《方案》的助力，有望推动各方消费创历史新高。 "吃住行"促消费 《方案》提出，餐饮方面，结合开展中华美食荟、老字号嘉年华活动，组织餐饮名店、老字号餐饮企 业、地方特色小吃等，推出年夜饭套餐、新春团圆宴，推出美食增值服务。鼓励各地发布美食地图，结 合本地实际在步行街、公园、社区等设置年味美食市集，举办美食大赛、厨艺比拼、晒晒我家的团圆饭 等活动。 家居方面，联动家居卖场、家电品牌、家装企业，推出"新春焕新家"惠民促销。组织连锁酒店、精品民 宿、度假村等开展"新春好好住"主题活动，推出连住优惠、家庭套房礼包、新春迎客礼、错峰住宿券等 优惠措施。 "好购"方面，组织百街千圈、千集万店开展"好礼享不停"活 ...

中国农历马年春节的9天假期，将不仅是阖家团聚的日子，也是全民参与消费盛宴的欢乐时刻。从 以旧换新补贴到跨场景优惠福利，一场政府引导、市场主导的消费狂欢即将上演。 春节将至，年味渐浓。2026年2月2日，商务部等九部门联合印发《2026"乐购新春"春节特别活动方 案》，正式揭开为期9天的春节促消费大幕。此次政策涵盖范围之广、措施之具体，被视为国家层面推 动内需恢复和消费升级的重要信号。 01 国家牵头的促消费活动 2026年春节将迎来9天假期，为繁荣节日市场、丰富群众文化生活、激发假期消费活力，打造全域 联动、全民乐享的春节消费盛宴，结合农历马年文化内涵与春节消费特点，制定本方案。 九部门联合发文的阵容庞大。商务部牵头，会同中央宣传部、文化和旅游部、中国人民银行、金融 监管总局、广电总局、体育总局、中国民航局、中国国家铁路集团有限公司共同研究制定了这一方案。 方案的印发时间精准瞄准春节消费高峰期。发布时间恰好在春节前，给各地各部门留出了充足时间 部署实施。 各方对该方案寄予厚望，认为其将有效扩大内需、提振消费，更好满足人民美好生活需要。 02 政策聚焦六大消费领域 方案的核心内容围绕"好吃、好住、好行、好游、好 ...

Core Insights - The article discusses how certain industries are thriving despite a general perception of economic downturn, highlighting eight key sectors that present significant business opportunities in a low-desire society [3][4]. Group 1: Economic Trends - The concept of a "low-desire society" does not equate to a lack of opportunities, as consumer behavior shifts towards different spending patterns [4]. - The article emphasizes that while people may not be purchasing luxury items or real estate, their money is flowing into alternative markets such as second-hand goods and pet care [6][11]. Group 2: Key Industries - **Second-Hand Economy**: The second-hand luxury market in Japan, represented by companies like Daikokuya, has seen a significant revenue increase, mirroring trends in China with platforms like Hongbulin and Panghu [6][7][8]. - **Pet Economy**: Despite declining birth rates, spending on pets is rising, with brands like Inaba in Japan and Guobao in China experiencing strong sales growth [11][12][13]. - **Adult Care**: The adult diaper market in Japan has surpassed $10 billion, indicating a growing potential for similar products in China [16][17][18]. - **Health Food and Beverages**: The rise in health consciousness has led to increased demand for sugar-free beverages and functional drinks, with brands like Dongpeng and Miao Ke Lan Duo gaining traction [21][22]. - **Beauty and Aesthetics**: The demand for beauty products, including collagen supplements and home beauty devices, remains strong, with companies like Jinbo Bio and U like achieving significant sales [23][25]. - **Outdoor Recreation**: Brands in the outdoor equipment sector, such as Kailas and Camel, are seeing rapid sales growth as consumers seek leisure activities [25][26]. - **Emotional Economy**: Products that provide emotional comfort, such as low-alcohol beverages and novelty items, are gaining popularity, reflecting a dual consumer behavior of frugality and indulgence [28][29][30]. - **Convenience Economy**: The demand for convenience foods and smart home appliances is increasing, as consumers prioritize time-saving solutions over cost [33][35][36]. Group 3: Market Opportunities - The article suggests that the current economic climate presents opportunities for those willing to invest in counter-cyclical sectors, emphasizing the importance of recognizing and acting on these trends [39].

Market Overview - All three major indices closed lower, with the Shanghai Composite Index down 2.48% to 4015 points and the ChiNext Index down 2.46%. The Hang Seng Index also saw a significant decline, closing down 2.92% [1][8] - Trading volume in the two markets decreased, remaining around 2.6 trillion [1][8] - Among the 31 primary industries, all except food and beverage and banking sectors experienced declines, with 4647 out of over 5300 stocks falling, indicating poor profitability [1][8] External Factors - The precious metals market experienced a sharp decline, impacting market sentiment and contributing to the A-share market's pullback. This was influenced by the nomination of Kevin Warsh as the next Federal Reserve Chairman, who advocates for a "balance sheet reduction + interest rate cut" policy [2][9] - Following Warsh's announcement, the US dollar index rose while gold and silver prices plummeted, with silver dropping 26%, marking its largest historical decline, and gold falling 9%, the worst single-day performance in nearly a decade [2][9] Internal Dynamics - Since mid-December, the index has risen rapidly due to improved liquidity and risk appetite, moving from around 3800 points to near 4200 points. This led to structural opportunities and accelerated sector rotation [3][10] - As uncertainty increased, market sensitivity heightened, prompting a shift from "increasing positions" to "realizing profits and reducing exposure," resulting in a net outflow of funds and overall market pressure [3][11] Future Outlook - The market is expected to focus on signs of economic recovery and the unfolding of the spring market, with a potential "second wave" of spring activity anticipated in February [4][11] - Historical data suggests a higher success rate for A-shares in February, particularly for small-cap growth stocks, which typically perform well in the week leading up to the Spring Festival [4][11] Sector Allocation - A balanced approach is recommended to navigate rapid rotations, with a focus on technology sectors supported by performance, such as AI applications, overseas computing power, storage, and wind energy storage [5][12] - For value investments, attention should be given to upstream commodities, which may benefit from geopolitical adjustments and potential mid-term recovery in manufacturing and real estate sectors [6][12]

贯彻落实党中央、国务院关于扩大 内需、提振消费系列决策部署,深入实 施提振消费专项行动,打造"购在中 国"品牌,紧扣年俗文化、家庭团圆、 购物出行等核心需求，聚焦首发经济、 数字消费、绿色消费、智能消费、健康 消费、入境消费等领域,商务部、中央 宣传部、文化和旅游部、中国人民银 行、金融监管总局、广电总局、体育总 式本安排 局、中国民航局、国铁集团等9单位组 织开展2026"乐购新春"春节特别活 动,更好满足人民美好生活需要。 活动时间 2月15日至23日 (春节9天假期) 洁动标识 好吃 ·马上尝鲜品年味 ★ 组织餐饮名店、老字号餐饮企业 推出年夜饭套餐、新春团圆宴。鼓励 推出美食增值服务,如现场表演、免 费小吃、幸运抽奖等。 ★ 鼓励各地发布美食地图,结合本 地实际在先行结 公园 社区生活器 P 2 - . AREETHER 2026春节特别活动 g 110 - 乐 购 新 春 纵览 R 节 特 别 活 动 全 攻略 IIII AKAN 年味美食市集,举办美食大赛、厨艺 比拼、晒晒我家的团圆饭等活动。 好住 ·龙马安居享团圆 ★ 联动家居卖场、家电品牌、家 装企业,推出"新春焕新家"惠民 促销。 * 组织 ...

Investment Rating - The industry investment rating is "Hold" [1] Core Views - The price of white cardboard has been on a continuous upward trend since the low point at the end of August 2025, reaching 4269 CNY/ton by January 30, 2026, an increase of 339 CNY/ton or 8.63% [3][21] - The recovery in industry profits is attributed to multiple factors including rising raw material costs, improved supply-demand dynamics, and price increases initiated by leading companies [4][28] Summary by Sections Weekly Special Report - White cardboard prices have shown a steady increase since the low in August 2025, with significant price recovery driven by cost pressures, supply-demand balance, and coordinated price hikes from major paper companies [3][21][28] - The inventory of white cardboard has decreased, leading to a more balanced market, which has helped stabilize prices [4][28] Weekly Market Review - From January 27 to January 31, 2026, the Shanghai Composite Index fell by 0.35%, while the Shenzhen Component Index dropped by 0.77%. The textile and apparel sector saw a slight increase of 0.01% [30][31] - The top gainers in the light industry sector included Yueyang Forest Paper (+18.35%) and Xidamen (+12.7%), while the biggest losers included Meike Home (-12.88%) and Kangxin New Materials (-11.74%) [32][33] Key Data Tracking Home Furnishing - From January 18 to January 25, 2026, the transaction area of commercial housing in 30 major cities was 121.1 million square meters, a decrease of 6.37% month-on-month [36] - In 2025, the total area of newly started residential construction was 430 million square meters, down 19.8% year-on-year [36] Packaging and Paper - As of January 30, 2026, the prices of various paper products were as follows: white cardboard at 4269 CNY/ton, with no change week-on-week [51] - The gross profit for white cardboard was -339.97 CNY/ton, an improvement from -555.13 CNY/ton at the end of August 2025 [21][28] Textile and Apparel - As of January 30, 2026, the price index for cotton in China was 16183 CNY/ton, reflecting a week-on-week increase of 1.97% [11] - In December 2025, retail sales of clothing and textiles amounted to 166.1 billion CNY, a year-on-year increase of 0.6% [11] Investment Recommendations - For the home furnishing sector, the report suggests focusing on stable companies and high-growth smart home segments due to favorable policies [14] - In the paper industry, it is recommended to pay attention to companies with diversified products and integrated operations, such as Sun Paper [14]

今天（2月2日），据商务部网站消息，中央宣传部、中央网信办、商务部、文化和旅游部、中国人民银行、金融监管总局、广电总局、体育总局、中央广 电总台、中国民航局、中国国家铁路集团有限公司研究制定了《2026"乐购新春"春节特别活动方案》，现予以印发。 | English Français | 首页 > 政务公开 > 政策发布 | | --- | --- | | Русский | | | Español | 来源：消费促进司 类型：原创 2026-02-02 11:30 | | Deutsch | | | 无障碍浏览 | | | | 商务部等9单位关于印发《2026"乐购新春"春节 | | 首 页 | | | | 特别活动完赛》的通知 | | 盟 机构设置 | | 《2026"乐购新春"春节特别活动方案》具体内容如下： 一、工作思路 贯彻落实党中央、国务院关于扩大内需、提振消费系列决策部署，深入实施提振消费专项行动，打造"购在中国"品牌，坚持政府引导、市场主导、全民参 与，紧扣年俗文化、家庭团圆、购物出行等核心需求，聚焦首发经济、数字消费、绿色消费、智能消费、健康消费、入境消费等领域，通过商旅文体健融 合、线上线 ...

Core Viewpoint - The report from Cinda Securities indicates that the company, Juran Smart Home, is expected to report a net profit attributable to shareholders of between -1.15 billion to -0.85 billion yuan in 2025, a significant decline from 769 million yuan in the same period last year [1] Group 1: Financial Performance - The estimated median net profit for Q4 2025 is projected to be -1.398 billion yuan, compared to 38 million yuan in the same quarter last year [1] - The fair value of the company's investment properties is expected to decrease by approximately 1 billion to 1.6 billion yuan in 2025 due to special unexpected events affecting rental income and leasing [1] Group 2: Business Operations - As of the first half of 2025, the company operates four "Zhongshang World" shopping centers in cities like Changchun and Wuhan, along with three modern department stores and 125 various supermarkets in key urban areas [1] - The company anticipates a gradual recovery in sales revenue and profitability, driven by macroeconomic recovery and optimization of its business model [1] Group 3: Strategic Outlook - The company plans to accelerate its overseas expansion and focus on deepening its core home furnishing business in 2026, while actively exploring home consumption scenarios related to children, pets, and the elderly [1] - The company aims to transform from a "home furnishing retail operator" to a "full-industry digital service provider" by leveraging AI design as a new traffic entry point and smart home solutions as new consumption scenarios [1]

开启新春消费礼包 好吃·马上尝鲜品年味 结合开展中华美食荟、老字号嘉年华活动，组织餐饮名店、老字号餐饮企业、地方特色小吃等，推出年 夜饭套餐、新春团圆宴，推出美食增值服务，如现场表演、免费小吃、幸运抽奖等。鼓励各地发布美食 地图，结合本地实际在步行街、公园、社区等设置年味美食市集，举办美食大赛、厨艺比拼、晒晒我家 的团圆饭等活动，结合各类美食活动推广节日热销商品，吸引更多群众一起"寻味中国年"。 经济观察网 据央视新闻客户端消息，今天，商务部等9部门印发《2026"乐购新春"春节特别活动方 案》，涵盖春节期间"吃、住、行、游、购、玩"等多方面，一起来划重点。 2026年2月15日—23日（春节9天假期）。 六大特色活动 组织百街千圈、千集万店开展"好礼享不停"活动，指导重点商圈（步行街）、品牌门店、离境退税商店 等线下实体备足优质货源，联动开展惠民促销。鼓励商场、步行街、夜间文旅消费集聚区、社区公园等 开辟市集专区，举办年货展销。开展非遗年货购物月、网上年货节、外贸优品中华行，甄选国货潮品、 国际精品、外贸优品，让全球好物成为中国年货。支持县域地区举办年货大集，组织土特产品进商圈、 进景区、进社区。鼓励商场、 ...

此外，方案还提出，鼓励金融机构与重点商户合作，策划春节专属活动，推出消费红包、消费立减等优 惠，扩大活动覆盖面。结合地方促消费活动，推出支付满减、积分抵现等优惠措施，鼓励使用数字人民 币智能合约消费红包。充分满足小额现金需求，加强手机红包技术保障。金融机构保障适量网点开门营 业，满足群众金融服务需求。 商务部等9单位关于印发《2026"乐购新春"春节特别活动方案》的通知 中央宣传部、中央网信办、商务部、文化和旅游部、中国人民银行、金融监管总局、广电总局、体育总 局、中央广电总台、中国民航局、中国国家铁路集团有限公司，各省、自治区、直辖市及计划单列市、 新疆生产建设兵团党委宣传部门，网信、商务、文化和旅游、广播电视、体育主管部门，中国人民银行 上海总部，各省、自治区、直辖市及计划单列市分行，金融监管总局各监管局，民航各地区管理局，各 铁路局集团公司： 商务部等9部门印发《2026"乐购新春"春节特别活动方案》。 其中提出，鼓励各地增加春节期间消费品以旧换新补贴数量，加大线下实体零售支持力度，动员企业春 节期间持续开展汽车、家电、数码和智能产品相关展销活动，引导企业打造智能终端等产品体验专区， 对到店体验消费者给 ...