据官方公告，海南自贸港将于12月18日(本周四)正式启动全岛封关，人员进出便利性提升、免税品类扩 容或直接利好免税、酒店、航空等旅游产业。展望后市，元旦及"最长春节"临近、冰雪旅游升温，旅游 行业处于"政策红利+需求释放"的双重利好周期。 据国泰海通数据，2025年11月1日海南离岛免税购物新政实施后，三亚市首月落实新政成效显著。当月 离岛免税销售额达16.3亿元，同比增长24.3%，创2025年以来单月增速新高，新政对免税消费市场的有 力驱动充分显现。 旅游ETF(562510)跟踪中证旅游主题指数，持仓中国中免、海南机场（600515）等海南概念股，覆盖景 区、航空机场、免税、酒店餐饮等细分领域。在海南封关、冰雪经济、春节假期等多重催化下有望受 益。 ...

（来源：科创100ETF基金） 零售板块再度走高，全新好（000007）、农产品（000061）、浙江东日（600113）、红旗连锁 （002697）涨停，杭州解百（600814）、中央商场（600280）、大东方（600327）、步步高 （002251）、永辉超市（601933）等跟涨。相关ETF方面，旅游ETF(159766)涨0.54%，成交额1.01亿 元，旅游ETF(562510)成交额1539.41万元。 （来源：科创100ETF基金） 零售板块再度走高，全新好（000007）、农产品（000061）、浙江东日（600113）、红旗连锁 （002697）涨停，杭州解百（600814）、中央商场（600280）、大东方（600327）、步步高 （002251）、永辉超市（601933）等跟涨。相关ETF方面，旅游ETF(159766)涨0.54%，成交额1.01亿 元，旅游ETF(562510)成交额1539.41万元。 ...

假期催化+冰雪经济：旅游ETF(562510) 提振内需+低估赛道：食品饮料ETF(515170) 近日，马蜂窝发布的2025冬季"旅行蜂向标"清晰映照出当下冬季出行与消费新态势——"玩雪"与"避 寒"成为冬季出行的主要动力，"冬季旅游"热度环比上涨300%。这一现象也给消费领域带来启示：激发 冬季消费活力，既要深耕北方冰雪经济的"冷"资源，也要充分挖掘南方"避寒"需求的"暖"潜力，实 现"冷""暖"均衡发展。 12月9日，港股指数开盘表现分化，恒指高开0.06%，国企指数平开，恒生科技指数低开0.11%。港股消 费板块近期整体走势承压，港股消费ETF(513230)早盘持续下挫，现跌至0.5%上下，持仓股跌多涨少， 万洲国际、新秀丽、李宁、中国旺旺等涨幅居前，康师傅控股、小米集团、零跑汽车、哔哩哔哩、泡泡 玛特等跌幅居前。 华源证券表示，新兴消费品的蓬勃发展折射出新世代年轻人在当前社会环境下所孕育出的新兴消费观 念，正确的解读此类全新的消费叙事是抓住新消费公司成长的关键因素。 交银国际表示，2025年消费小幅回暖，展望2026年，消费有望延续温和增长的新常态，其核心特征是总 体需求增速偏缓，但消费理性化与需 ...

Group 1 - The Hang Seng Index fell by 0.45% and the Hang Seng Tech Index dropped by 0.98% during the midday close on November 19, with personal care products and industrial group sectors showing gains, while water and life sciences tool sectors experienced declines [1] - The Global Express Development Report (2025) indicates that the global express parcel business volume is expected to reach approximately 26.79 billion pieces in 2024, representing a year-on-year growth of 17.49%, with business revenue projected at 4.6037 trillion yuan, a 14.05% increase [1] - The Asia-Pacific region maintains a significant advantage in the express parcel business, with a volume exceeding 21 billion pieces, accounting for 78.9% of the global total, and nearly 40% of the business revenue [1] - China's express parcel business volume reached 1.758 billion pieces in 2024, marking a year-on-year growth of 21.5%, with business revenue of 1.40335 trillion yuan, reflecting a 13.8% increase [1] - China's express market has maintained its position as the largest globally for eleven consecutive years, achieving a remarkable average of 10 billion pieces per month, showcasing the industry's strong vitality and potential [1] Group 2 - Under the backdrop of ongoing growth stabilization policies, the service consumption and tourism duty-free policies are intensifying, leading to structural opportunities in the consumption chain [2] - Service consumption and online consumption continue to show resilient growth, with policy-driven sectors like tourism and education exhibiting higher elasticity [2] - The reform of duty-free channels, combined with the facilitation of inbound travel, is expected to become a core engine for the next phase of consumption recovery [2] Group 3 - Related popular ETFs include: Tourism ETF (562510) benefiting from holiday catalysts and the ice and snow economy, Food and Beverage ETF (515170) aimed at boosting domestic demand and undervalued sectors, and Hong Kong Consumption ETF (513230) focusing on e-commerce leaders and new consumption trends [3]

Group 1 - The Hong Kong stock market experienced a collective decline, with the Hang Seng Index down by 0.80%, the Hang Seng Tech Index down by 1.19%, and the National Enterprises Index down by 0.79% [1] - Technology stocks saw widespread declines, while military stocks led the gains, and the semiconductor sector rose against the trend [1] - The consumer sector in Hong Kong showed volatility, with the Hong Kong Consumer ETF (513230) dropping nearly 0.5%, indicating a potential low-point buying opportunity [1] Group 2 - The 2025 Tmall Double 11 event achieved its best growth in four years, with nearly 600 brands surpassing 100 million in sales, and 34,091 brands experiencing year-on-year growth [1] - Notable brands such as Apple, Haier, and Xiaomi each exceeded 1 billion in sales during the event, driven by strong consumer investment and support for quality brands [1] - According to Zhonghang Securities, the ongoing growth policies and the recovery of inbound tourism are creating multiple structural opportunities in the consumption chain, particularly in service consumption and online sales [1] Group 3 - The tourism ETF (562510) is positioned to benefit from holiday catalysts and the ice and snow economy [2] - The food and beverage ETF (515170) is seen as a low-valuation sector that can boost domestic demand [2] - The Hong Kong Consumer ETF (513230) is linked to e-commerce leaders and new consumption trends [2]

Group 1 - The introduction of the first autumn holiday in several provinces in China, including Zhejiang, Guangdong, and Sichuan, has led to a surge in travel demand, with average round-trip ticket prices rising to approximately 700 yuan, a 7% increase compared to last year [1] - Popular travel routes during the autumn holiday include Chengdu to Sanya, Chengdu to Haikou, and Hangzhou to Xiamen, with some flights already sold out, indicating a strong impact of policy incentives on tourism consumption [1] - The autumn holiday not only meets family travel needs but also creates a new peak in tourism outside of traditional "Golden Week" periods, reflecting a shift in consumer behavior [1] Group 2 - From January to October, China's online retail sales increased by 9.6% year-on-year, with physical goods retail sales growing by 6.3%, outpacing the overall growth of social consumer goods retail [1] - The retail sales of new energy vehicles continue to grow rapidly, highlighting a trend towards digital and green consumption that is driving overall consumption growth [1] - The current phase of consumption structure upgrading presents significant opportunities in cultural tourism and healthcare, with emerging sectors like the silver economy and first-time economy contributing to new consumption momentum [1] Group 3 - Relevant ETFs include tourism ETF (562510) benefiting from holiday catalysts and the ice and snow economy, food and beverage ETF (515170) aimed at boosting domestic demand, and Hong Kong consumption ETF (513230) focusing on e-commerce leaders and new consumption trends [2]

Group 1 - The announcement of a 9-day Spring Festival holiday in 2026 has significantly boosted travel demand, with a notable increase in flight and hotel searches on travel platforms [1][2] - The search volume for domestic flights and hotels on platforms like Qunar and Tongcheng has more than doubled within hours of the announcement, indicating strong consumer interest [1][2] - The surge in inquiries for European travel, particularly a 200% increase in consultations for destinations like Greece and Spain, highlights the potential for long-distance travel during the extended holiday [1][2] Group 2 - The extended holiday aligns with cultural needs for family reunions during the New Year, while also providing a window for consumption upgrades, thus acting as a catalyst for various industries [2] - The combination of policy incentives and released demand is expected to drive growth in transportation, cultural tourism, and other sectors, serving as a significant boost for consumer spending [2] - Relevant ETFs that may benefit from this trend include the Tourism ETF (562510), Food and Beverage ETF (515170), and Hong Kong Consumption ETF (513230) [3]

此外，随着国庆+中秋假期临近，民众出行需求增加，旅游ETF(562510)也有望迎来系列数据催化；截 至8月19日，旅游ETF年内跌0.84%，低位特征明显，资金已连续14日申购。 从申万一级的31个行业来看，有色、通信的年内涨幅已逼近40%，年初至今涨跌幅排名靠后的有煤炭、 食品饮料等；食品饮料板块近日表现良好，资金持续买入，食品饮料ETF(515170)连续4日上涨。 上证指数近期突破10年高点，站上3700点，市场情绪升温，A股成交额显著放量，创业板、北证50等指 数点位也分别突破，寻找低估或"待涨"赛道成为市场关注的焦点。 ...