Group 1 - The consumer price index (CPI) in China decreased by 0.1% year-on-year from January to June, marking the first negative change since the Lehman crisis in 2009 [1] - The sluggish consumption environment makes it difficult for companies to pass on rising costs to sales prices, despite increased import costs due to tariffs [2][4] - The core inflation rate, excluding food and energy prices, is only 0.4%, indicating a significant gap from the government's target of around 2% inflation by 2025 [1] Group 2 - The real estate market in China has been in a downturn for nearly four years, contributing to a stagnant economy and a challenging job market for young people [2] - Many households are opting to save rather than spend due to uncertainty about the future, leading to intensified competition in sectors like dining [2] - The wholesale price index fell by 2.8% year-on-year from January to June, with a 3.6% decline in June alone, reflecting downward pressure on prices due to insufficient demand and overproduction [4]

Core Viewpoint - Jinan is enhancing its industrial supply to boost consumption by focusing on 13 iconic industrial chains and 34 key industrial chains, expanding the "Jinan Advantage Industrial Product Directory" to promote quality supply [1][2] Group 1: Industrial Product Directory - The "Jinan Advantage Industrial Product Directory" has been published six times since its first release in 2020, showcasing 3,997 advantageous industrial products from 978 enterprises across 11 major fields [1] - The directory includes various sectors such as electronic information (210 enterprises), machinery and equipment (394 enterprises), metallurgy and metals (116 enterprises), food and beverages (83 enterprises), chemicals and new materials (77 enterprises), and more [1] Group 2: Selection Standards - The selection criteria emphasize "qualification recognition, compliance preconditions, and dynamic management," focusing on new industrial products and quality enterprises to ensure market advantage and social responsibility [2] - The directory promotes innovative products that integrate AI, IoT, and big data technologies, including advanced items like bionic robots and digital management systems [2] Group 3: Promotion Channels - Promotion of the directory is conducted through various channels, including the "Qianhui Enterprise" online platform, media outlets, and social media, as well as offline events and exhibitions, distributing nearly 10,000 copies to assist enterprises in market expansion [2] Group 4: Future Plans - Jinan will continue to focus on the 13 iconic industrial chains and 34 key industrial chains, enhancing the selection of "chain boutique" products and improving supply-demand matching and market promotion efforts [2]

LPR年内首降，利好将传导到楼市及消费领域 王运金 广开首席产业研究院首席金融研究员 对于已购房者来说，LPR下调会带来存量房贷利率下调，居民每月的月供会相应减少，意味着可收入支 配的增加。这使得居民在满足基本生活开支后，有更多的资金用于消费，如购买家电、汽车、旅游等， 从而刺激了消费需求，带动了相关产业的发展，家具家电、汽车、旅游、餐饮零售等行业都能从中受 益，进而促进经济增长。 宏观慧眼 从宏观经济层面来看，消费和房地产市场的活跃对内需的拉动作用较为明显。消费作为经济增长的主要 动力之一，居民消费扩张可以刺激企业扩大生产，增加就业岗位，居民收入也会有所提升，会进一步刺 激消费，形成正向反馈。同时，房地产市场的稳定发展不仅对上下游产业有巨大拉动作用，还能加快城 市化进程，带动区域经济的发展。LPR的调降可以有效减轻居民房贷压力、刺激消费需求、活跃楼市、 改善预期，有利于扩大内需、促进经济增长。 存款利率下调不仅是促"存款搬家"，更是呼应资本市场"顶层设计" 薛洪言 苏商银行特约研究员 近年来，存款搬家一直是热议话题。从2022年9月份起，经过累计7轮存款挂牌价下调，主要期限定期存 款利率全面进入"1.0"时 ...