第一重是以旧换新。前不久商务部会同国家发展改革委、财政部拨出了今年国补资金625亿元，目 前已经到达各地商务部门。在春节9天假期内，将指导各地加大补贴投放，充分保障消费者按政策要求 申领补贴。 第二重是有奖发票。近期商务部、财政部、税务总局确定在50个城市开展有奖发票试点，半年实施 期内将发放100亿奖补资金，其中春节9天假期的奖金规模将超过10个亿，大家在试点城市购物、就餐、 旅游、住宿等取得票面金额在100元以上的发票均可参与抽奖。 第三重是金融支持。人民银行、金融监管总局将指导金融机构、支付机构联合商家推出多种形式 的"乐购新春"优惠措施，覆盖机场、酒店、美食、餐饮、景点门票等多领域的消费场景。 国务院新闻办公室今天（2月11日）举行新闻发布会，请有关负责人介绍2026"乐购新春"春节特别 活动、保障春节市场供应有关情况。 发布会上介绍，本周日将迎来史上最长的新春假期，商务部联合9部门策划"乐购新春"春节特别活 动，推出一批含金量高的政策礼包促进节日消费。 这次活动为广大消费者准备了三重大礼包： ...

Group 1 - The core viewpoint of the articles highlights the significant increase in bookings for flights, hotels, and attractions during the Spring Festival, indicating a strong consumer sentiment and travel enthusiasm [1][5] - The Ministry of Commerce has introduced three major initiatives to boost consumer spending during the Spring Festival, including trade-in subsidies, a lottery for invoices, and financial support measures [2][3] - The financial environment is being enhanced to support holiday market prosperity, with policies aimed at reducing costs and improving services for consumer loans, including adjustments to interest subsidies [3] Group 2 - The Ministry of Culture and Tourism is promoting various cultural and tourism activities to enrich the holiday experience, including 22 themed events and international promotional activities to attract foreign visitors [5] - There is a strong demand for essential goods as the Spring Festival approaches, with measures in place to ensure stable supply and price levels for daily necessities [6] - Data shows that inventory levels for essential goods in major supermarkets have increased significantly, with a 20% rise in stocks of grains, meats, and eggs compared to the previous month [6]

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector [3]. Core Insights - The 2026 Spring Festival will feature a "9-day no work adjustment" policy, leading to a high public satisfaction rate of 92.9%. This extended holiday is expected to significantly boost travel and consumption during the Spring Festival period [7][8]. - The aviation sector anticipates a record passenger volume of 95 million during the 40-day Spring Festival travel period, representing a year-on-year increase of 5.3%. The number of flights planned by domestic airlines is expected to reach 657,000, also up by 5% [8]. - The domestic tourism market is experiencing diverse growth, with family travel becoming increasingly popular. The proportion of family travelers is expected to reach 39%, while the elderly demographic (aged 60 and above) will account for 19% of travelers [18][20]. - There is a notable increase in outbound travel demand, with booking volumes rising nearly 40% year-on-year. Southeast Asia is dominating international travel routes, capturing nearly 50% of outbound flights, while flights to Japan have decreased significantly [31][40]. Summary by Sections 1. Expansion of Aviation and Railway Capacity - The Spring Festival travel period will see a significant increase in passenger flow, with the aviation sector expecting 95 million passengers, and the railway sector projecting 539 million passengers, both reflecting a 5% increase year-on-year [8][16]. 2. Emergence of Diverse Customer Groups - Family travel is on the rise, with a notable increase in the average booking price for family accommodations, which is 9% higher than other types. The demand for larger, more private accommodations is also increasing, with a 77% year-on-year growth in bookings for standalone villas during the winter holiday [18][20]. 3. Restructuring of Destination Patterns - Outbound travel is seeing a shift, with Thailand regaining its position as the top destination. The demand for long-haul and differentiated travel experiences is becoming mainstream, with a significant increase in interest for destinations like Turkey and New Zealand [31][42]. 4. Investment Analysis Recommendations - The report suggests focusing on companies that can leverage the benefits of the extended holiday and the growth in inbound and long-haul outbound travel. Recommended sectors include tourism attractions, exhibition and sports events, human resources, hotels, and duty-free retail [43].

图为活动 中新网西安2月11日电 (记者 党田野)10日晚，"长安妙人·诗咏归岁"首届曲江文旅汉服设计大赛决赛暨颁 奖仪式在西安大唐芙蓉园举行。本次活动以汉服为载体传承传统文化，融合盛唐风韵与现代审美，展现 中华服饰之美，为古城长安增添新春亮色。 现场。党田野 摄 本届大赛由西安曲江文化旅游股份有限公司、曲江文旅汉服产业发展中心联合主办，自2025年11月启幕 便备受关注，依托"长安灯会·花朝季"平台面向全球征稿，共收到300余件兼具唐风古韵与现代美学的设 计作品，才女风骨、羽衣霓裳等多元风格齐聚。经专家评审团层层遴选，最终30件作品凭借扎实的形制 考据、灵动的创意表达、精巧的制作工艺，站上决赛舞台。 当晚，大唐芙蓉园凤鸣九天剧院成为汉服美学的展示舞台。开场大秀《上元花灯》瞬间将现场氛围拉 满，演员身着汉服的精彩表演，再现了盛唐上元的繁华盛景。决赛走秀聚焦作品细节与文化内涵，将设 计师的巧思与汉服的细节之美展现得淋漓尽致。诗人现场吟诵唐诗名篇，营造出"诗咏归岁"的雅致意 境，让现场观众沉浸式感受汉服之美与长安文化底蕴。 据介绍，赛事创新采用"专家评审+大众投票"机制，专业评审从文化契合度等维度把关，大众线上投 ...

Core Viewpoint - The Chinese government is launching the "Happy New Spring" campaign for the 2026 Spring Festival, involving multiple departments to stimulate consumer spending and enhance market supply during the holiday period [3][4]. Group 1: Government Initiatives - The Ministry of Commerce is collaborating with nine departments to organize the "Happy New Spring" campaign, mobilizing numerous national trade associations and local businesses to provide substantial consumer benefits [3]. - A total of 20.5 billion yuan has been allocated for consumer incentives, including vouchers, subsidies, and red envelopes, aimed at benefiting consumers during the nine-day holiday [3]. - The online New Year goods festival has generated a national online retail sales figure of 989.73 billion yuan as of February 8, indicating a strong consumer demand [3]. Group 2: Consumer Benefits - Three major consumer benefit packages have been prepared: 1. Trade-in subsidies with an initial allocation of 62.5 billion yuan for local governments to enhance consumer participation [4]. 2. A lottery for invoices in 50 cities, with a total prize pool of 10 billion yuan during the holiday period [4]. 3. Financial support from banks and payment institutions to offer various discounts across travel, dining, and entertainment sectors [4]. Group 3: Cultural and Tourism Activities - The Ministry of Culture and Tourism is launching 22 themed activities under seven major categories to enhance the festive atmosphere, including cultural events and tourism promotions [5][6]. - A nationwide cultural and tourism consumption month will be held, featuring initiatives to promote local performances and community engagement [6]. Group 4: Financial Sector Involvement - The Financial Regulatory Bureau is guiding financial institutions to support consumer activities through cost reduction, improved services, and enhanced consumer protection [8]. - Financial institutions are encouraged to develop tailored financial products for new consumption trends, ensuring accessibility and convenience for consumers [8]. Group 5: Media and Entertainment Engagement - The National Radio and Television Administration is promoting various media activities to drive consumer engagement, including special programming and promotional offers on streaming platforms [9]. - Initiatives include the launch of popular dramas and short videos to attract viewership and stimulate related consumer spending [9]. Group 6: Sports and Outdoor Activities - The General Administration of Sport is introducing 13 outdoor sports routes for the Spring Festival, promoting physical activities and tourism [10]. - A nationwide fitness event will be held, along with various community sports activities to encourage public participation in health and wellness during the holiday [11].

Core Viewpoint - The Chinese government is launching the "Happy Shopping Spring Festival" special event to stimulate consumer spending during the upcoming extended Spring Festival holiday, with various financial incentives and support measures in place [1]. Group 1: Financial Support Measures - A total of 2.05 billion yuan has been allocated across various regions to provide direct benefits to consumers through vouchers, subsidies, and red envelopes during the 9-day holiday [2]. - The event includes a "trade-in" policy supported by 62.5 billion yuan in national subsidies, aimed at encouraging consumers to exchange old products for new ones [3]. - A pilot program for prize invoices will be launched in 50 cities, with 10 billion yuan in prize funds available during the holiday period, allowing consumers to participate in a lottery for invoices over 100 yuan [3][4]. Group 2: Prize Invoice Program - The prize invoice program will cover major consumer sectors, including retail, dining, accommodation, cultural arts, entertainment, tourism, sports, and residential services, making it accessible to a wide range of consumers [4]. - The prize amounts for each invoice will be capped at 800 yuan, and consumers must present invoices with a minimum amount of 100 yuan to participate [7]. - The program will be implemented for six months, from February to July, with real-time prize announcements and electronic redemptions for winners [10].

Core Insights - Guizhou Province is launching over 1,000 cultural and tourism activities themed "Guizhou Fireworks? Qianwei Chinese New Year" to celebrate the upcoming Spring Festival, inviting domestic and international tourists to experience local culture and festivities [1][23] Group 1: Event Highlights - Guiyang City plans to host over 500 activities under the theme "Seeking Flavor Fireworks, Enjoying a Happy New Year," including 23 diverse street music concerts and various festive events at local attractions [3] - Zunyi City will integrate red culture with traditional customs, featuring dragon and lion dances, non-heritage markets, and music festivals, alongside sports events like the National Dragon Dance Open [5] - Liupanshui City will offer winter sports experiences with upgraded ski facilities and cultural activities, including a series of folk performances and sports competitions [8] Group 2: Thematic Experiences - Six major thematic experiences have been created, including "Colorful Customs? Non-Heritage Celebrations," "Southern Snow Fun? Ice and Snow Activities," and "Red Memory? Cultural Heritage Celebrations," each with unique tourism routes [1][23] - The "Warm Winter Vacation" theme will feature hot spring wellness experiences, while "Non-Heritage Craftsmanship" will showcase local traditional arts and crafts [17][19] Group 3: Promotional Strategies - The provincial government will implement promotional strategies such as discounts on tickets for tourists, including a 50% discount on certain attractions and special offers for visitors born in the Year of the Horse [23] - A focus on enhancing transportation connections and safety measures will be prioritized to ensure a pleasant experience for tourists during the festival [23]

中新网乌兰察布2月11日电 (记者 张林虎)10日晚，内蒙古自治区乌兰察布之夜街区正式亮灯开街，"数 智启新程马年迎好运"2026年"冬"之夜"非遗"麻糖汇暨春节系列活动在灯光与雪花中拉开序幕。活动 以"传统+科技"为主线，融合"非遗"展示、民俗演艺、冰雪项目与智能表演，吸引众多游客前来体验。 图为开街 仪式现场。察右前旗融媒体中心供图 开街仪式上，身着古装的"李白""苏轼"穿越登台，吟诵经典诗篇。来自大数据领域的员工则以高铁、航 天、人工智能等现代科技成就为内容，与"诗人"展开互动问答，呈现一场古今对话。"没想到传统年俗 里能看到航天和机器人表演，跨时空对话的创意让老传统有了新味道。"游客张媛媛说。 整场演出分为"科创飞天志""回家过大年""祥马贺新春""开街启新程"四个篇章。航天返回舱、智能机器 人、机器狗等元素与歌舞表演结合，展现科技与艺术的交融。温馨的返乡情景、戏曲舞蹈、高空飞马等 节目，则传递出团圆与吉祥的节日氛围。随着烟花瀑布点亮夜空，游客沿光影步入街区，开启新春游园 之旅。 察右前旗国源文旅投资开发有限公司副总经理张宇表示，即日起至正月十五，街区将持续开展粮票兑 礼、新春祈福、元宵喜乐会等活动， ...

Group 1 - Morgan Stanley maintains a positive outlook on the Chinese stock market, emphasizing the need for more refined stock selection [1] - The preferred sectors during the Lunar New Year period include high-end liquor, quality protein (new dairy products and black-haired cattle), key condiments, gold, and the tourism industry [1] - Historical data indicates that the appreciation of the RMB against the USD will boost returns in the Chinese stock market, with cyclical or growth stocks typically outperforming defensive stocks [1] Group 2 - The top stock picks include Tencent Holdings (00700), Lao Poo Gold (06181), MGM China (02282), TAL Education (TAL.US), Trip.com (09961, TCOM.US), Haitian Flavoring (03288, 603288.SH), Kweichow Moutai (600519.SH), Mengniu Dairy (02319), and Wuliangye (000858.SZ) [1]

Core Viewpoint - Morgan Stanley reaffirms its bullish trading strategy on the Chinese consumer market ahead of the Lunar New Year (February 15 to 23), favoring high-end liquor, premium protein (new dairy products and black-haired cattle), key condiments, gold, and the tourism industry [1] Group 1: Market Strategy - Historical data indicates that the appreciation of the RMB against the USD will boost returns in the Chinese stock market, with cyclical or growth stocks typically outperforming defensive stocks [1] - Morgan Stanley maintains a positive outlook on the Chinese stock market but emphasizes the need for more refined stock selection [1] Group 2: Preferred Stocks - The preferred stocks include Tencent Holdings (00700), Lao Poo Gold (06181), MGM China (02282), TAL Education (TAL.US), Trip.com (09961, TCOM.US), Haitian Flavoring (603288) (03288, 603288.SH), Kweichow Moutai (600519) (600519.SH), Mengniu Dairy (02319), and Wuliangye (000858) (000858.SZ) [1]