新华社记者 谢希瑶 邹多为 周 蕊 消费是经济增长的"主引擎"，也是民生幸福的"晴雨表"。 今年以来，提振消费各项政策发力显效，促进消费潜力不断释放。前11个月，社会消费品零售总额同比 增长4％，增速不仅快于上年同期，也快于上年全年。 日前举行的中央经济工作会议围绕"坚持内需主导，建设强大国内市场"，部署"深入实施提振消费专项 行动""释放服务消费潜力"等多项具体举措。 当前，各地正加快从供需两端协同发力，着力添动能、挖潜力、增后劲，多维发力激活消费"主引擎"。 眼下，人们的消费需求已从"有没有"转向"好不好"。同时高端手机"一机难求"、热门演出"一票难求"的 现象也仍然存在。 我国消费品供给已进入优质优价新发展阶段，但部分领域供需结构性错配问题依然存在，供给过剩和优 质供给不足并存。 今年以来，从"两新"政策加力扩围，到实施提振消费专项行动，再到19条措施扩大服务消费，一系列政 策顺应消费新需求，引导产业创新供给。 前11个月我国汽车产销量再创新高，新能源汽车新车销量达到汽车新车总销量的53.2％，占有率进一步 上升。消费品"以旧换新"实施以来，家电产品中一级能效产品销售额占比超九成。 大宗消费规模大、链条 ...

新华社北京12月25日电 题：供需两端齐发力 激活消费"主引擎" 新华社记者谢希瑶、邹多为、周蕊 消费是经济增长的"主引擎"，也是民生幸福的"晴雨表"。 今年以来，提振消费各项政策发力显效，促进消费潜力不断释放。前11个月，社会消费品零售总额同比 增长4%，增速不仅快于上年同期，也快于上年全年。 日前举行的中央经济工作会议围绕"坚持内需主导，建设强大国内市场"，部署"深入实施提振消费专项 行动""释放服务消费潜力"等多项具体举措。 当前，各地正加快从供需两端协同发力，着力添动能、挖潜力、增后劲，多维发力激活消费"主引擎"。 以新需求引领新供给 释放消费市场新活力 11月28日，华为Mate80系列首销，部分型号线上平台首销迅速售罄，全国多地门店销售紧俏。 今年以来，从"两新"政策加力扩围，到实施提振消费专项行动，再到19条措施扩大服务消费，一系列政 策顺应消费新需求，引导产业创新供给。 前11个月我国汽车产销量再创新高，新能源汽车新车销量达到汽车新车总销量的53.2%，占有率进一步 上升。消费品"以旧换新"实施以来，家电产品中一级能效产品销售额占比超九成。 大宗消费规模大、链条长，是夯实消费基本盘的重要抓手。 ...

Core Viewpoint - The article highlights the significant progress and strategic developments in Hainan's Free Trade Port, emphasizing its role in promoting high-quality economic growth and enhancing the overall living standards of its residents [3][5][24]. Group 1: Economic Development - Hainan's trade and investment policies are set to enhance cross-border capital flow, with the total trade volume projected to increase from 933 billion in 2020 to 2,778 billion by 2024, reflecting an annual growth rate of 31.3% for goods trade and 32.3% for service trade [7]. - The province has established a robust foreign investment environment, with 176 countries and regions investing in Hainan, and actual foreign investment reaching 166.7 billion over the past four years, growing at an annual rate of 15.8% [7]. - Hainan has opened 79 international passenger shipping routes, covering 21 countries and 39 cities, positioning itself as a rising international shipping hub [8]. Group 2: Industry Strengthening - The province is focusing on four key industries: tourism, modern services, high-tech industries, and tropical agriculture, aiming to create a modern industrial system with Hainan characteristics [10][11]. - The agricultural sector is being enhanced with over 2,800 enterprises in seed production, generating an annual output value exceeding 18 billion [11]. - Hainan's digital economy is projected to grow significantly, with over 400 enterprises expected to generate around 200 billion in revenue by 2024 [12]. Group 3: Business Environment - Hainan is committed to creating a market-oriented, law-based, and international business environment, with initiatives such as the introduction of the Fair Competition Regulation and the reduction of administrative licensing requirements [16]. - The province has seen a surge in project signings, with 26 key projects covering multiple cities, reflecting the confidence of enterprises in Hainan's business environment [16]. - Hainan's talent recruitment efforts have intensified, with over 8,000 job positions offered in recent recruitment events, showcasing the province's commitment to attracting skilled professionals [17][19]. Group 4: Social Welfare - Hainan has implemented a senior meal service program, with 118 facilities serving over 500,000 individuals, enhancing the quality of life for the elderly [20]. - The province has added 170,000 public education seats in the past four years, exceeding national averages in various educational metrics [21]. - Healthcare resources have been expanded, achieving the goal of providing comprehensive medical services within the province [21].

Core Insights - The October CPI data shows a year-on-year increase of 0.2%, indicating a potential turning point in consumer inflation, with core CPI rising for six consecutive months to 1.2% [1][2] Group 1: October CPI Analysis - The increase in October CPI is primarily driven by holiday consumption and rising gold prices, rather than a comprehensive recovery in the economy [1] - The year-on-year change in CPI reflects a reduction in downward pressure, with food price declines narrowing to -2.9% and energy price declines to -2.4% [1] - Retail sales in October grew by 2.9% year-on-year, but there are signs of weakening demand as new social financing growth slows and both short and long-term loans show negative growth [2] Group 2: Long-term Trends - A significant milestone is noted as the total retail sales of consumer goods from January to October (41.22 trillion yuan) surpass fixed asset investment (40.89 trillion yuan), indicating a shift from investment-driven to consumption-driven economic growth [2][4] - Conditions for consumption to become a core driver of economic growth are maturing, supported by rising per capita GDP, increased policy focus on consumption, and structural changes in consumer behavior [4] Group 3: Investment Opportunities in the Consumer Sector - High-end consumer demand is showing signs of recovery, with notable growth in high-end service consumption, such as entertainment and duty-free shopping [6] - The consumer sector is currently at historical low valuation levels, with the CSI Consumer 50 Index PE ratio at 17.5, indicating a favorable risk-reward ratio for investors [7][10] - The dividend yield for the CSI Consumer 50 Index is currently at 3.79%, higher than that of banks, suggesting limited downside potential [10] Group 4: Strategic Recommendations - Investors are encouraged to consider the consumption sector as a strategic opportunity, particularly in light of the structural improvements indicated by the October CPI data [11] - Suggested investment products include the E Fund Consumption ETF, which tracks the CSI Consumer 50 Index, and the Hong Kong Stock Consumption ETF, providing exposure to high-quality consumer companies in the Hong Kong market [11]