1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - The growth of mid - stream machinery manufacturing is prominent, and the downstream real estate shows a slight recovery. The plastics in the upstream chemical products are under price pressure due to oversupply and weak demand, while industrial metals remain strong due to supply shortages. In the mid - stream, the added value of the machinery industry in the first three quarters increased significantly, with the automotive and electrical machinery industries having high growth rates, and the intelligent equipment manufacturing industry also performing well. In the downstream, the cultural and tourism market is active, online retail continues to thrive, and some upgraded consumer goods show good growth, but the sales of traditional fuel - powered vehicles decline, and the real estate sales in first - tier cities increase [1]. 3. Summary by Relevant Catalogs I. Medium - term Overview - **Upstream**: As of October 26, plastics in chemical products faced price pressure due to supply surplus and weak demand during the peak season. Industrial metals remained strong due to supply shortages, with copper prices fluctuating at a high level due to global mine - end supply disruptions and aluminum prices having potential upward elasticity as the capacity utilization rate is at a high level [1]. - **Mid - stream**: In the third - quarter report data released this week, the added value of the machinery industry above the designated size in the first three quarters increased by 8.7% year - on - year, significantly higher than the national industrial average. The growth rates of the automotive and electrical machinery industries exceeded 11%, making outstanding contributions. The added value of the intelligent equipment manufacturing industry increased by 12.2%, and the output of industrial robots in the first nine months reached 595,000 sets, exceeding the whole - year figure of last year [1]. - **Downstream**: In the third - quarter report data released this week, the cultural and tourism market was active, with double - digit growth in box office revenues of the film and performance markets, and active tourism travel. Online retail continued to be active, with the proportion of online retail sales in the total social retail sales rising to 40.5%. Upgraded consumer goods showed good growth, with the retail sales of gold, silver, and jewelry products increasing by 33.5% and sports and entertainment products also growing. The retail sales of basic daily necessities such as grain, oil, food, and daily necessities increased by 8.2% and 3.7% respectively. The retail sales of automotive products decreased, and the sales of traditional fuel - powered vehicles were sluggish. The real estate sales in first - tier cities increased significantly this week [1]. II. Industry Overview - **Production Industry**: No specific content provided other than the industrial added - value and PPI data figures in the graphs [22][20]. - **Service Industry**: No specific content provided other than the data figures in the graphs [25][30]. III. Industry Pricing - **Industry Market Pricing**: No specific content provided other than the graph [31]. - **Industry Credit Spreads**: The credit spreads of various industries are presented in a table, showing the data of last year's same - period, one month ago, last week, this week, and the quantiles for industries such as agriculture, forestry, animal husbandry, and fishery; mining; chemical industry; etc. For example, the credit spread of the agriculture, forestry, animal husbandry, and fishery industry this week is 41.55, with a quantile of 0.00 [32]. IV. Sub - industry Tracking - **Generalized Agriculture**: Palm oil prices declined, while corn and cotton prices increased [2]. - **Chemical Industry**: Styrene and polyethylene prices decreased. Urea inventory continued to rise, PVC inventory decreased slightly, and the inventories of methanol and pure benzene showed no significant change compared with the previous period [5]. - **Non - ferrous Industry**: The prices of some non - ferrous metals such as zinc and aluminum increased, and copper prices fluctuated. The inventories of some non - ferrous metals such as lead and copper decreased cyclically [4]. - **Ferrous Industry**: The prices of some ferrous metals such as soda ash, hot - rolled coils, and rebar decreased, while the coking coal price increased significantly. The inventory of rebar decreased slightly [4]. - **Infrastructure Industry**: The concrete price remained stable, and the bagged cement price increased. The concrete shipment volume and capacity utilization rate increased slightly [6]. - **Logistics and Transportation Industry**: Railway transportation declined, while road transportation increased [7]. - **Automobile Manufacturing Industry**: The retail sales of automotive products decreased, and the sales of traditional fuel - powered vehicles were sluggish [1]. - **Real Estate Industry**: The sales of commercial housing in first - tier cities increased significantly compared with the previous period. The sales in cities like Chengdu, Fuzhou, Xiamen, and Nanjing increased more. The housing prices in Beijing, Shanghai, Hangzhou, and Hefei decreased [6].

南都讯 记者王玮 发自北京 9月29日，国新办举办新闻发布会，介绍"十四五"时期文化和旅游高质量发 展成就。文化和旅游部副部长王建华表示，市场秩序确实是反映营商环境的一面镜子，关系到经营主 体、从业者、消费者的切身利益，大家都很关注。总体来看，当前文旅市场平稳有序，基本面是好的， 但受到产业链长、经营主体多、业态更新快这些因素的影响，也存在薄弱环节，比如"黄牛"倒票、旅游 强迫购物等等，影响了消费体验和行业形象。我们聚焦问题短板、坚持管理和服务两加强、发展与安全 两手抓，着力维护健康有序的市场环境。 二是坚持压实责任，筑起行业安全生产的"防火墙"。健全安全生产工作机制，会同相关部门，做好涉旅 领域安全生产综合治理，在节假日、暑期、汛期等关键节点提前布置、统筹调度。扎实开展治本攻坚三 年行动，强化安全隐患排查整治，从系安全带、穿救生衣等小切口入手，解决安全生产的大问题。多渠 道开展及时精准出游提示，发布《旅游安全实务手册》，会同气象部门开展旅游团队气象预警。加强重 点涉旅企业负责人安全专题培训，巩固行业安全生产能力。 三是坚持便民利企，开辟优化营商环境的"快车道"。我们持续推进文旅市场"高效办成一件事"，完成文 ...

Core Insights - The Ministry of Culture and Tourism has announced that 16 pilot regions, including Haidian District in Beijing, have successfully passed the evaluation for the development of a credit economy in the cultural and tourism market [1][2] - The pilot program, initiated in August 2021, aimed to enhance credit commitment systems, promote credit brand building, optimize credit consumption environments, and strengthen integrity culture [1] - As of now, a total of 30 regions have been designated as pilot areas, contributing to improved credit regulation and market development integration, thereby enhancing the integrity level and consumer confidence in the cultural and tourism market [2] Group 1 - The pilot regions have accumulated typical experiences in enhancing credit regulation efficiency and exploring credit transaction models [1] - The first batch of pilot regions included 14 areas such as Dalian, Huangpu District in Shanghai, and Wulong District in Chongqing, which successfully passed evaluation in February 2023 [1] - The newly launched pilot program for 2023-2024 aims to explore new paths for credit empowerment in the cultural and tourism market [2] Group 2 - The selected 16 regions for the new pilot program include areas from Beijing, Hebei, Liaoning, and others, focusing on high-quality development in the cultural and tourism sector [2] - The typical experiences from these pilot regions have addressed the challenges of integrating credit regulation with market development [2] - The establishment of a replicable credit economy model is expected to lay a long-term credit foundation for the high-quality development of the cultural and tourism market [2]