转自：厦门发布 吹响奋进冲锋号 跑好新年"第一棒" 2026年第一天 市政府办公厅印发 《关于实现2026年一季度 经济社会发展良好开局的若干措施》 来源：厦门日报 继续实施消费品以旧换新；2026年起将技术创新基金规模从500亿元提高到600亿元；加快厦漳泉城际铁路R1线等项目实施，争取厦门翔安国际机场具备 校飞条件；春节期间启动农副产品平价商店销售机制…… 开年就开跑，起步即冲刺 厦门重磅发布硬核举措 拿出真金白银助企惠民 （以下简称《若干措施》） 《若干措施》从多措并举提振消费、全力推动实体经济发展、持续扩大有效投资、稳外贸稳外资促招商、加强冬春农业生产、扎实做好民生保障工作等6 个方面推出25条措施，推动我市2026年一季度经济运行实现稳中向好。 "奋勇争先谋发展，踔厉奋发启新程。"市发改委有关负责人表示，2026年是"十五五"规划的开局之年，是厦门努力率先实现社会主义现代化的关键一年。 做好一季度经济工作，将为全年经济社会发展抢占先机、把握主动。"《若干措施》的出台，旨在深入贯彻落实党的二十大和二十届历次全会精神，认真 落实中央及省委、市委经济工作会议部署，按照'3+1'城市发展总体框架推进转型升级 ...

智通财经记者 | 张旭 截至2024年年末，我国60周岁以上人口达3.1亿，占总人口的22%。让所有老年人都能有一个幸福美满 的晚年，是家事，也是国事。 随着我国人口老龄化程度不断加深，养老服务需求日渐增长，养老服务体系建设也面临新的挑战。在此 背景下，1月7日，中办、国办发布《深化养老服务改革发展的意见》（以下简称：《意见》）。《意 见》明确，到2029年，我国养老服务网络基本建成；到2035年，养老服务网络更加健全，适合我国国情 的养老服务体系成熟定型。 《意见》提出17条清晰"路径"。从完善村（社区）养老服务设施站点、巩固居家养老基础作用，到加快 补齐农村养老服务短板、加强养老服务人才队伍建设等，均作出明确部署。 今年7月，民政部会同财政部组织开展向中度以上失能老年人发放养老服务消费补贴试点工作，在浙 江、山东、重庆市等地先行开展项目试点，切实惠及老年群体。与此同时，适老化改造持续推进，全国 同步开展消费品以旧换新补贴，截至今年9月，国家财政补贴资金近10亿元。 此外，居家社区养老服务持续深化，全国启动2025年居家和社区基本养老服务提升行动项目。中央财政 投入9亿元资金支持50个项目地区建设家庭养老床 ...

Core Viewpoint - The newly released policy on reducing preschool education costs has positively impacted the A-share market, particularly benefiting stocks related to childcare and early education, leading to a broad market rally in these sectors [1][3]. Group 1: Policy Impact - The central government's issuance of the "Opinions on Gradually Promoting Free Preschool Education" complements the previously announced "Implementation Plan for Childcare Subsidies," creating a policy synergy [3]. - The market reaction indicates a short-term emotional boost driven by the policy, with expectations for a positive long-term impact on the infant and child industry chain as the policies are implemented [3]. Group 2: Industry Outlook - The new policy may lead to a differentiation within the A-share education sector, where leading companies with brand advantages and course development capabilities are expected to enhance service quality and expand family childcare guidance services, potentially increasing customer spending and offering valuation recovery opportunities [5]. - The gradual implementation of free preschool education is anticipated to accelerate the release of real demand for educational resources, benefiting niche sectors such as childcare themes, educational informatization, and teacher training [5]. - Future demand is expected to increase around courses, content, services, and facilities, which may become the next investment theme in the industry [7].

Group 1 - The core viewpoint is that the recovery of the Chinese stock market is worth close attention due to factors such as easing trade agreements, domestic policy stimulus, improved risk-reward dynamics, and support from global investor allocations [1] - Early signs of economic improvement are emerging, with retail sales growth rate reaching 6.4% year-on-year in May, exceeding expectations [1] - The rising household savings rate, which accelerated from 44% in 2023 to 55% in 2024, reflects a cautious consumer sentiment amid a challenging global environment [1] Group 2 - More stimulus measures are expected to be introduced to further boost consumption, with previous initiatives like the "trade-in" program contributing to strong retail sales in the first half of the year [2] - The government is accelerating the improvement of the childbirth support policy system, recently announcing a cash subsidy of 3,600 yuan per child per year for children under three years old [2] - Recent official meetings have enhanced optimism regarding China's policy outlook, with measures aimed at promoting rational competition and addressing price pressures in various sectors [2] Group 3 - The company maintains a positive outlook on Asian (excluding Japan) stocks, believing that Chinese stocks will generate excess returns due to targeted policy measures aimed at growth, capacity optimization, and overcoming price pressures [3] - Emphasis is placed on the importance of diversified asset allocation, including high-quality bonds, gold, and alternative investments, to achieve optimal returns and protect wealth from market volatility [3]

Market Performance - The Hang Seng Index closed at 25,524 points, down 38 points or 0.2%, after a 1.2% intraday decline, indicating resilience despite early pressure[1] - The Hang Seng Tech Index fell by 0.4%, closing at 5,644 points, reflecting a similar trend[1] - Total market turnover reached HKD 267 billion, with a net inflow of HKD 12.72 billion through the Stock Connect, showing strong support[1] Market Trends - Since mid-July, cumulative net inflow through Stock Connect has reached HKD 116 billion over the past 20 trading days, indicating increased investor interest[1] - The market is experiencing a high risk appetite, particularly in the biotech and brokerage sectors, with several biotech stocks hitting new highs[1] Short-term Risks - The Hang Seng Index faces short-term adjustment risks due to three factors: 1. Technical indicators are overbought, with the 50-day and 250-day moving averages at extreme levels of 93%[2] 2. August has historically been a weak month for the index, with an average decline of 2.1% over the past 15 years and a rise rate of only 26.7%[2] 3. The US dollar may rebound, as it has historically increased by an average of 0.1% in August, potentially pressuring emerging markets like Hong Kong[2] Policy Impact - Government policies, such as the implementation of a nationwide childcare subsidy starting January 1, 2025, are expected to boost market sentiment[3] - The healthcare sector saw a significant rise, with the Hang Seng Healthcare Index up 3.8%, driven by strong performances in innovative drugs and medical devices[4] Real Estate Insights - New home sales in 30 major cities fell by 16.8% year-on-year, with a total volume of 1.4 million square meters sold, indicating ongoing weakness in the real estate market[5] - The inventory-to-sales ratio for major cities rose to 129.8, up from 101.3 a year ago, suggesting increasing supply pressure[7] - Land transaction volumes also dropped significantly, down 48.6% year-on-year, reflecting a slowdown in real estate development activity[8]

Core Insights - The report by QianGua Data focuses on the popular industries on the Xiaohongshu platform for the first half of 2025, covering sectors such as fashion, beauty, food, parenting, home, and outdoor activities [1][6][2] Group 1: Fashion Industry - The fashion industry on Xiaohongshu has an average monthly interaction of over 150 million for "grass-planting" notes, with a commercial note count increasing by over 20% [9][10] - Key categories include clothing (43.50%), jewelry (35.08%), and bags (6.70%), with jewelry notes seeing a growth of over five times [9][10] - The trend emphasizes a "light and flowing" style, with significant engagement on topics like "vacation outfits" and "breathable materials," indicating a shift towards casual elegance [12][13] Group 2: Beauty and Personal Care - The beauty sector shows an average monthly interaction of over 100 million for "grass-planting" notes, with a growth rate of over 45% for popular content [16][17] - Major categories include color cosmetics (47.63%), skincare (28.86%), and personal cleaning products (24.09%), reflecting a competitive landscape [16][17] - Trends highlight a preference for "light makeup" and "convenient products," with new product forms like makeup accessories gaining traction [19][20] Group 3: Food and Beverage - The food and beverage sector has an average monthly interaction of 280 million for "grass-planting" notes, with commercial note counts increasing by over 40% [24][25] - Key categories include fresh fruits and vegetables (8.66%), snacks (24.44%), and grains (23.80%), with fresh produce leading in engagement [24][25] - The focus is shifting towards health-conscious choices, with a growing interest in herbal ingredients and clean labels, indicating a transformation in consumer expectations [27][28] Group 4: Parenting and Childcare - The parenting industry has seen a 25% increase in commercial note counts and a 57% rise in average monthly shares compared to the previous year [31][32] - Key categories include children's toys, clothing, and books, with a notable emphasis on quality and essential products [31][32] - The trend is moving towards "simplified parenting," where parents prioritize essential items that provide high value and meet core needs [33][34]