本报（chinatimes.net.cn）记者张智 北京报道 12月18日，海南封关首日，海南购物氛围浓厚地仿佛过上了"双十一"。 在三亚海旅免税城，苹果手机门店人山人海，免税叠加满15000减1000的优惠活动，使得一台最贵的 iphone17proMax手机比官网便宜2140元；在三亚国际免税城，封关首日限时"三件一折"活动让人们在商 场结账处排起了长队。 更加便宜的免税品仅仅是封关带来的基本利好。事实上，从封关这一天开始，一扇面向全球的大门自海 南轰然打开：绝大多数进口商品零关税，对符合条件的货物实施"径予放行"，海南与境外之间的货物、 资金、人员往来，将享有前所未有的自由。 其中，"零关税、低税率、简税制"的税收组合拳是海南自贸港最具吸引力的政策之一，为企业带来实实 在在的利好。 比如，"零关税"方面，封关前，海南自贸港"零关税"清单涵盖1900多个税目商品，封关后，"零关税"商 品税目扩大至约6600个，占全部商品税目的比重由21%提升至74%，从高精尖科研设备、生物医药原料 到日常消费品、生产资料，进入海南均可免缴关税、进口环节增值税和消费税。这一政策将为实体企 业、特别是依赖进口原材料的高端制造 ...

打造引领我国新时代对外开放的重要门户——"中国经济圆桌会"聚焦海南自贸港正式启动全岛封 关 南海之滨，潮声激荡。海南迎来全球瞩目的高光时刻—— 12月18日，海南自由贸易港将正式启动全岛封关，这是我国坚定不移扩大高水平对外开放、推动 建设开放型世界经济的标志性举措。 1978年12月18日，划时代的党的十一届三中全会召开。47年后，海南自由贸易港建设站在新的起 点上。 1个多月前，习近平总书记在海南省三亚市听取海南自由贸易港建设工作汇报时，对全岛封关寄予 厚望："建设海南自由贸易港的战略目标，就是要把海南自由贸易港打造成为引领我国新时代对外 开放的重要门户。" 封关运作在即，各项准备工作进展如何？封关后，对于人们往来海南、岛内居民生活就业、企业 投资兴业会带来哪些影响？如何以此次封关为契机推进更大范围、更深层次对外开放？ 新华社12月17日推出第二十六期"中国经济圆桌会"大型全媒体访谈节目，邀请国家发展改革委宏 观经济研究院院长黄汉权、海南省委深改办（自贸港工委办）副主任王奉利、正大集团农牧食品 企业中国区资深副董事长薛增一，共话海南自贸港正式启动全岛封关。 全力以赴，全岛封关准备好了 在海南建设中国特色自由 ...

Core Insights - LexinFintech Holdings Ltd reported a significant increase in quarterly earnings, reaching 43 cents per share, compared to 28 cents per share in the same quarter last year [1] - The company's sales for the quarter were $367.580 million, a decrease from $521.851 million in the previous year [1] - Following the earnings report, LexinFintech shares surged by 15.3% to $4.03 in pre-market trading [1] Company Performance - LexinFintech's earnings per share increased by 53.6% year-over-year [1] - The decline in sales represents a year-over-year decrease of approximately 29.4% [1] - The positive market reaction indicates investor confidence despite the drop in sales [1]

Core Viewpoint - The report discusses the dynamic balance between savings and investment in industrialized countries since the mid-1980s, highlighting how despite declining labor income shares and other adverse factors, consumption rates have remained stable due to various supporting mechanisms [1][2]. Group 1: Key Factors Supporting Consumption - Household financial wealth has grown significantly, outpacing GDP and disposable income growth, which has positively influenced consumption levels [2][3]. - Social security systems have reduced private savings through "asset substitution effects," helping to smooth consumption during income shocks [3]. - Public social spending has alleviated household expenditure pressures, thereby enhancing disposable income levels [3]. Group 2: Investment Demand Drivers - The emergence of new investment opportunities has supported investment demand, with fixed asset investment rates remaining stable despite rising income and capital stock levels [4]. - The shift towards knowledge and technology-intensive service sector investments has been crucial, with new investment opportunities in information technology and intellectual property products providing significant support for planned investments [3][4]. Group 3: Interest Rates and Policy Management - The continuous decline in real interest rates has balanced savings and investment, with real rates dropping from high levels in the mid-1980s to below 1% post-2008 financial crisis, often entering negative territory [4]. - Effective counter-cyclical management policies have prevented short-term issues from becoming long-term problems, contrasting with Japan's prolonged economic stagnation due to indecisive macro policies [5]. Group 4: Implications for Developing Economies - The experiences of industrialized nations provide valuable insights for developing economies facing similar challenges, particularly regarding the balance of savings and investment [6]. - In China, the actual consumption level is believed to be underestimated, with high overall savings rates and relatively low consumption levels compared to other countries [6]. - Short-term measures to boost consumption should focus on aggressive fiscal policies and lowering real interest rates, while long-term strategies should include improving service sector offerings [7][8]. Group 5: Future Investment Directions - Public investment should prioritize urban renewal and infrastructure projects, especially in areas with significant unmet needs, to enhance overall economic activity [8]. - Investment in human resources and living conditions is essential, particularly for migrant workers facing inadequate housing [8]. - Fiscal and monetary policies will need to be more proactive, with potential increases in spending and further reductions in policy interest rates to stimulate economic growth [9].

Core Insights - The article discusses the dynamic balance between intended savings and planned investments in industrialized countries since the mid-1980s, highlighting how these economies maintain high consumption rates despite declining labor income shares [1][3]. Group 1: Key Factors Influencing Savings and Investments - The report identifies four key forces that enable the dynamic balance between savings and investments: household wealth, new investment opportunities, interest rates, and counter-cyclical policies [3][5]. - Household financial wealth has grown significantly, supporting consumption levels despite increasing income inequality. For instance, the average financial asset per household in the U.S. is approximately $370,000, compared to $100,000 in Europe and $120,000 in Japan [4][5]. - New investment opportunities, particularly in knowledge and technology-intensive sectors, have sustained investment demand, with fixed asset investment rates remaining stable despite high per capita income levels [4][5]. Group 2: Policy Recommendations for Consumption Growth - To boost consumption in the short term, the report suggests implementing aggressive fiscal policies and lowering policy interest rates to stimulate nominal GDP growth [6][7]. - Long-term strategies should focus on improving social security systems and enhancing service sector offerings, particularly in healthcare and education, which are areas where consumers are willing to spend more [7][8]. - Public investment should prioritize urban renewal and infrastructure projects to address existing gaps, especially in light of underutilized labor and production capacity [8][9]. Group 3: Future Economic Outlook - The article emphasizes the need for increased fiscal spending and potential adjustments in policy interest rates to lower overall financing costs, which could further stimulate economic activity [9]. - It highlights that for nominal GDP to grow by 5% to 7%, fiscal spending growth should not fall below the target GDP growth rate, indicating a need for careful fiscal management [9].