齐鲁晚报.齐鲁壹点通讯员王丹 2025年国庆中秋假期，临沂市消费市场热力升腾，生活必需品供应量足价稳，民生刚需品类消费实现大 幅增长，各类消费活动精彩纷呈，多元消费场景持续焕新，节日氛围愈发浓烈。 国庆中秋假期，据商贸流通监测平台数据显示，临沂市44家零售样本企业实现销售总额61062.58万元。 粮油食品、饮料、烟酒、日用品等民生刚需品类实现大幅增长，成为消费市场的"稳定器"，其中粮油食 品销售额为11359.95万元，同比增长26.2%；饮料销售额为1563.63万元，同比增长60.13%；烟酒销售额 为1898.85万元，同比增长242.5%；日用品销售额为1135.96万元，同比增长6.21%。文化、通讯及休闲 类消费展现出显著增长活力，彰显消费结构的优化升级，其中通讯器材销售额为366.66万元，同比增长 11.73%；文化办公用品销售额为32.82万元，同比增长20.13%；体育、娱乐用品销售额为11.2万元，同 比增长76.1%。此外，汽车、家用电器及音像器材分别实现销售额38192.9万元、2211.01万元。 消费活动精彩纷呈，消费场景持续焕新 9月26日，临沂市启动以"惠享琅琊.乐购临沂" ...

Market Performance - During the National Day holiday (October 1-7, 2025), the Nasdaq, S&P 500, and Dow Jones Industrial Average increased by 0.57%, 0.39%, and 0.44% respectively[3] - The Nasdaq China Technology Index rose by 1.59%, while the Hang Seng Index increased by 0.38% during the same period[3] Bond Market - U.S. Treasury yields primarily decreased, with the 10-year yield falling by 2 basis points to 4.14% as of October 7, 2025[4] - The yield curve steepened, with all maturities except for the 30-year remaining unchanged or decreasing during the holiday[4] Currency Trends - The U.S. Dollar Index increased by 0.78%, with the dollar appreciating against the Euro, Pound, and Yen by 0.65%, 0.17%, and 2.70% respectively[5] - The offshore RMB depreciated against the U.S. dollar, rising to 7.1458, a 0.24% increase[5] Gold Market - Gold prices surged, with London spot gold rising by 4.02% to $3979.00 per ounce, and COMEX gold futures increasing by 3.40% to the same price[6] - A rebound in domestic gold prices is anticipated post-holiday due to the significant rise in international prices[6] Economic Uncertainty - The U.S. government shutdown began on October 1, 2025, due to budget disagreements, which may lead to increased unemployment and reduced consumer spending, negatively impacting GDP growth[7] - The delay in non-farm payroll data release adds to economic uncertainty, affecting market predictions[8] Political Developments - Japan's political landscape may shift with the election of the first female president of the Liberal Democratic Party, which could escalate geopolitical tensions in East Asia due to her conservative stance[9] Monetary Policy - The central bank plans to conduct a 1.1 trillion yuan reverse repo on October 9, 2025, to maintain liquidity, despite a net withdrawal in October due to maturing repos[10] Consumer Spending - The fourth batch of 690 billion yuan in special bonds for consumer goods has been allocated, expected to boost retail sales in the fourth quarter[10] Investment Strategy - The market may present structural investment opportunities in sectors such as AI, energy storage, and gold, while the bond market remains attractive despite short-term risks[11]

相关报告：智研咨询发布的《2025-2031年中国零售支付行业市场全景调研及发展潜力研判报告》 2025年8月，全国文化办公用品类商品零售类值当期值为430.1亿元，环比增长15.22%，同比增长 14.2%；2025年1-8月全国文化办公用品类商品零售类值累计值为3218.9亿元，同比增长22.3%。 数据来源：国家统计局 近一年全国文化办公用品类商品零售类值当期值与同比增长统计图 数据来源：国家统计局 ...

Core Points - The National Development and Reform Commission (NDRC) and the Ministry of Finance have allocated 69 billion yuan in the fourth batch of special long-term bonds to support the consumption of old-for-new products, completing the annual allocation of 300 billion yuan in central funds [1] - From January to August this year, 330 million people have applied for subsidies under the old-for-new policy, driving sales of related products to exceed 2 trillion yuan [1] - Retail sales of household appliances, audio-visual equipment, cultural and office supplies, furniture, and communication equipment have seen year-on-year growth rates of 28.4%, 22.3%, 22.0%, and 21.1% respectively, contributing to a 4.6% year-on-year increase in total retail sales of consumer goods [1] Implementation and Oversight - The NDRC plans to further organize local governments to reasonably manage the pace of work, improve fund usage plans, and ensure balanced and orderly expenditure of subsidy funds [1] - There will be an emphasis on product quality and price supervision, along with strict measures against fraudulent claims and illegal activities related to subsidies [1] - The goal is to implement the old-for-new policy smoothly and effectively, ensuring that subsidy funds are utilized properly and yield tangible results [1]

特约评论员 熊夏柠 近日，国家发展改革委已会同财政部，向地方下达了今年第四批690亿元超长期特别国债支持消费品以 旧换新资金，至此，全年3000亿元中央资金已全部下达。 数据显示，今年1~8月，全国共有3.3亿人次申领消费品以旧换新补贴，带动相关商品销售额超过2万亿 元；限额以上单位家用电器和音像器材、文化办公用品、家具、通讯器材类商品零售额同比分别增长 28.4%、22.3%、22.0%、21.1%，支撑社会消费品零售总额同比增长4.6%。 可见，以旧换新对提振我国消费起到了非常积极的作用，以旧换新政策也是国家真金白银地支持消费、 扩大消费的重要举措。并且，政策实施的具体实践显示，民众对这项着力扩大消费的政策反响良好，反 应强烈。 党的二十大报告指出，要着力扩大内需，增强消费对经济发展的基础性作用和投资对优化供给结构的关 键作用。 2024年12月召开的中央经济工作会议提出，大力提振消费、提高投资效益，全方位扩大国内需求。 2025年的政府工作报告指出，要强化宏观政策民生导向。坚持以人民为中心，经济政策的着力点更多转 向惠民生、促消费，以消费提振畅通经济循环，以消费升级引领产业升级，在保障和改善民生中打造新 ...

Core Viewpoint - The Chinese government has implemented a policy to support the replacement of old consumer goods with new ones, which has led to significant increases in sales and consumer participation in the program [1] Group 1: Policy Implementation - The National Development and Reform Commission (NDRC) and the Ministry of Finance have allocated 300 billion yuan in special long-term bonds to support the consumer goods replacement policy [1] - The fourth batch of 69 billion yuan in special long-term bonds has been distributed to local governments, completing the annual funding allocation [1] Group 2: Impact on Consumer Behavior - From January to August this year, 330 million people have applied for subsidies under the consumer goods replacement program, resulting in over 2 trillion yuan in related sales [1] - Retail sales of major household appliances and audio-visual equipment, cultural and office supplies, furniture, and communication equipment have seen year-on-year growth rates of 28.4%, 22.3%, 22.0%, and 21.1% respectively [1] Group 3: Future Directions - The government plans to enhance the management of subsidy funds, ensure product quality and price regulation, and combat fraudulent claims to ensure the effective implementation of the consumer goods replacement policy [1]

新华社北京9月30日电（记者魏弘毅、魏玉坤）记者30日从国家发展改革委获悉，国家发展改革委 近日会同财政部向地方下达了今年第四批690亿元超长期特别国债支持消费品以旧换新资金，至此全年 3000亿元中央资金已全部下达。 今年1至8月，全国共有3.3亿人次申领消费品以旧换新补贴，带动相关商品销售额超过2万亿元；限 额以上单位家用电器和音像器材、文化办公用品、家具、通讯器材类商品零售额同比分别增长28.4%、 22.3%、22.0%、21.1%，支撑社会消费品零售总额同比增长4.6%。 国家发展改革委相关负责人表示，下一步各有关部门将进一步组织地方合理把握工作节奏，完善资 金使用计划，均衡有序支出补贴资金，加强产品质量和价格监管，严厉打击骗补套补等违法违规行为， 平稳有序实施消费品以旧换新政策，推动补贴资金用到实处、见到实效。 【纠错】 【责任编辑:赵阳】 今年以来，国家发展改革委会同财政部等部门有序下达超长期特别国债资金支持消费品以旧换新。 各地各有关部门持续完善实施机制，强化资金监督管理，推动消费品以旧换新政策取得积极成效。 ...

Core Viewpoint - The Chinese government has allocated a total of 300 billion RMB in special long-term bonds to support the consumption upgrade policy, specifically for the replacement of old consumer goods with new ones, with the latest batch being 69 billion RMB [1] Group 1: Policy Implementation - The National Development and Reform Commission (NDRC) and the Ministry of Finance have been actively distributing special long-term bond funds to support the consumption upgrade policy throughout the year [1] - A total of 330 million people have applied for subsidies under the consumption upgrade policy from January to August, resulting in over 2 trillion RMB in related sales [1] Group 2: Economic Impact - Retail sales of household appliances, audio-visual equipment, cultural office supplies, furniture, and communication devices have seen significant year-on-year growth, with increases of 28.4%, 22.3%, 22.0%, and 21.1% respectively [1] - The overall retail sales of consumer goods have increased by 4.6% year-on-year, supported by the consumption upgrade policy [1] Group 3: Future Plans - The NDRC plans to further organize local governments to manage the pace of work, improve fund usage plans, and ensure balanced and orderly expenditure of subsidy funds [1] - There will be a focus on enhancing product quality and price supervision, as well as cracking down on fraudulent subsidy claims to ensure the effective implementation of the consumption upgrade policy [1]

Group 1 - The National Development and Reform Commission (NDRC) has allocated a total of 300 billion yuan in special bonds to support the consumption upgrade policy, with the latest batch being 69 billion yuan [1][2] - The government aims to boost consumption as a primary task this year, with the "old-for-new" policy playing a significant role in this initiative [2][3] - From January to August, 330 million people have claimed subsidies under the "old-for-new" policy, leading to over 2 trillion yuan in related sales, contributing to a 4.6% year-on-year growth in total retail sales of consumer goods [5][6] Group 2 - Analysts suggest that future consumption policies may expand the scope of subsidies from durable goods to general consumer goods and services [5] - The government has also introduced new policies to support service consumption, with 19 measures aimed at enhancing service supply in various sectors [6] - The expected growth rate of retail sales is projected to reach 4.5% this year, reflecting a 1.0 percentage point acceleration compared to the previous year [6]

近日，国家发展改革委已会同财政部，向地方下达了今年第四批690亿元超长期特别国债支持消费品以 旧换新资金，至此，全年3000亿元中央资金已全部下达。下一步，各有关部门将进一步组织地方合理把 握工作节奏，完善资金使用计划，均衡有序支出补贴资金，加强产品质量和价格监管，严厉打击骗补套 补等违法违规行为，平稳有序实施消费品以旧换新政策，推动补贴资金用到实处、见到实效。 新京报讯据国家发展改革委官微消息，今年以来，国家发展改革委会同财政部等部门，认真贯彻落实党 中央、国务院关于实施"两新"政策的决策部署，有序下达超长期特别国债资金支持消费品以旧换新。各 地各有关部门持续完善实施机制，强化资金监督管理，推动消费品以旧换新政策取得积极成效。今年1- 8月，全国共有3.3亿人次申领消费品以旧换新补贴，带动相关商品销售额超过2万亿元；限额以上单位 家用电器和音像器材、文化办公用品、家具、通讯器材类商品零售额同比分别增长28.4%、22.3%、 22.0%、21.1%，支撑社会消费品零售总额同比增长4.6%。 ...