●成都、绵阳、南充3个城市，将分别获得4亿元、3亿元、3亿元的中央财政资金扶持 南充是四川第二大人口大市，社会消费品零售总额连续18年居四川第三位，不仅市场潜力巨大，也 适宜大规模场景应用。同时，南充还具有一系列独特场景资源，比如以"寻春节之源，到阆中过年"顶流 IP为代表的春节文化，以朱德故里、张澜故居等景区为支撑的红色文化，以中国绸都、丝绸源点为品 牌，六合丝厂国家工业遗产为核心载体的丝绸文化，以陈寿、张飞等历史印迹为符号的三国文化等。 ●支持健全首发经济服务体系、支持创新多元化服务消费场景、支持优质消费资源与知名IP跨界联 名 近日，财政部、商务部确定全国50个城市为消费新业态新模式新场景试点城市。其中，四川省成都 市、绵阳市、南充市3市入选，入选数量居中西部省份第一位、全国前三位。这3个城市将共获中央财政 支持资金10亿元。 为什么是这3个城市？试点"三新"到底新在哪里？记者采访了相关部门。 入选重要因素：消费市场基础好、潜力大、创新特色突出 此次遴选50个人口基数大、带动作用强、发展潜力好的消费新业态新模式新场景试点城市，旨在通 过增加优质消费供给，创新和丰富多元化消费场景，推动新的消费业态不断涌现 ...

新京报贝壳财经讯 12月14日，商务部、中国人民银行、金融监管总局联合印发《关于加强商务和金融 协同 更大力度提振消费的通知》（以下简称《通知》），围绕商品消费、服务消费、新型消费、消费 场景、消费帮扶等重点领域，提出3方面11条政策措施。 其中，在培育新型消费方面，通知提出，因地制宜推动新型消费发展，按照风险可控、商业可持续原 则，积极探索金融支持首发经济、绿色消费、健康消费、数字消费、"人工智能+消费"、"IP+消费"等消 费新业态新模式的有效举措，提供更具多样性、差异化的金融服务。引导金融机构与社交电商、直播电 商等开展合作，开发适应互联网特点的业务模式。 ...

Core Viewpoint - The article discusses the announcement of 50 cities selected for the pilot program of new consumption formats, models, and scenarios, highlighting a shift in central fiscal policy towards enhancing consumption supply rather than merely providing subsidies to boost immediate consumer spending [1][3]. Group 1: Pilot Program Overview - The pilot program aims to address the insufficient supply of high-quality consumption and stimulate innovation in the consumption sector, with a focus on optimizing the consumption supply structure [1]. - The selected cities include 4 municipalities, 5 sub-provincial cities, and 41 other cities, each with tailored strategies based on their unique characteristics and resources [4]. Group 2: Fiscal Support and Strategy - The central government will provide substantial financial support, with a total of approximately 17 billion yuan allocated for the pilot program, which is about 5.6% of this year's 300 billion yuan subsidy for replacing old consumer goods [7]. - The fiscal support is designed to enhance the "soft environment" for consumption, focusing on innovative and diversified service consumption scenarios rather than traditional physical goods [6][8]. Group 3: Consumption Trends and Upgrades - There is a clear trend of increasing service consumption in China, with the proportion of per capita service consumption expected to rise by 5 percentage points from 2015 to 2024, reaching 46.1% [3]. - The pilot program emphasizes the creation of high-quality consumption ecosystems, including the establishment of flagship stores and first-release centers to enhance the quality of consumption [3][12]. Group 4: Challenges and Recommendations - The implementation of the pilot program faces challenges such as avoiding homogenization among cities, attracting social capital, and transitioning from fiscal dependency to self-sustaining consumption models [15]. - Recommendations include investing in consumption infrastructure and public services, optimizing regulatory frameworks, and creating a favorable institutional environment for new consumption formats [16][17].

Core Insights - The article emphasizes the importance of China's super-large market advantage as a strategic asset for economic development and modernization [1][5][6] - It highlights the continuous growth of domestic consumption and the shift towards service consumption as key trends in the market [2][3] Group 1: Market Growth and Consumption Trends - China's social retail sales reached 36.5877 trillion yuan in the first three quarters of this year, with a year-on-year growth of 4.5%, accelerating by 1.2 percentage points compared to the previous year [2] - The retail sales of social consumer goods are projected to grow from 39.1 trillion yuan in 2020 to 48.3 trillion yuan in 2024, with an average annual growth rate of 5.5% [1] - Service retail sales are expected to grow by 6.2% in 2024, outpacing goods retail sales by 3 percentage points, indicating a shift towards service-oriented consumption [2] Group 2: New Consumption Patterns - New consumption formats are emerging, integrating experiences such as shopping, exhibitions, and entertainment, enhancing leisure experiences for consumers [3] - Innovative products and cultural items, including traditional clothing and local specialties, are gaining popularity both domestically and internationally [3] Group 3: Strategic Initiatives and Future Outlook - The "14th Five-Year Plan" emphasizes expanding domestic demand as a strategic foundation, focusing on three key tasks: expanding increments, improving efficiency, and ensuring smooth circulation [5][6] - The plan aims to enhance government investment in public welfare and infrastructure, optimize investment structures, and eliminate market barriers to fully leverage the benefits of the super-large market [6] - The eighth China International Import Expo saw a record high in participating enterprises, with intended transaction amounts reaching 83.49 billion USD, reflecting strong market engagement [5]

Group 1 - The "14th Five-Year Plan" has achieved high-quality completion of most policy goals, including economic growth, labor productivity, and R&D investment, with significant progress in urbanization and life expectancy indicators [9][10][11] - The "15th Five-Year Plan" is positioned as a critical period for achieving Chinese-style modernization, focusing on solidifying the foundation for modernization and comprehensive development [7][8] Group 2 - Four industrial clues are identified for the "15th Five-Year Plan": fostering new productive forces, expanding domestic demand, advancing the construction of a unified national market, and enhancing resource utilization and protection [4][12][16] - The macroeconomic environment shows new momentum in domestic growth, with a need to address insufficient effective demand, emphasizing the importance of technology innovation and expanding domestic consumption [13][14] Group 3 - The focus on new productive forces includes the development of emerging industries, traditional industry upgrades, and the stimulation of digital economy innovation [4][12][18] - Expanding domestic demand involves promoting consumption through initiatives like "old-for-new" exchanges and investing in human capital, alongside infrastructure investment to support urban renewal [4][12][16] Group 4 - The construction of a unified national market aims to reduce internal competition and enhance efficiency in sectors like new energy, traditional cycles, and consumer goods [4][12][16] - Resource utilization and protection strategies emphasize the development of the marine economy and the safeguarding of strategic mineral resources [4][12][16] Group 5 - The market outlook suggests that technology innovation sectors such as TMT, new energy, and biomedicine will continue to be key investment themes, supported by policy and industry growth [4][12][16] - Historical analysis indicates that A-share market trends around the announcements of previous five-year plans show a pattern of initial growth followed by sector rotation and differentiation [4][12][16]

Core Viewpoint - The recent policies issued by the Ministry of Commerce and nine other departments aim to expand service consumption as a crucial support for improving people's livelihoods and a key direction for consumption transformation and upgrading [1][2]. Group 1: Policy Highlights - The policy measures are characterized by "three persistences": combining benefits for people's livelihoods with promoting consumption, optimizing supply while stimulating demand, and balancing openness to foreign markets with domestic liberalization [2]. - Specific measures include accelerating the establishment of long-term care insurance, increasing the supply of quality resources in cultural tourism and sports, and expanding pilot programs in telecommunications, healthcare, and education [2][3]. Group 2: Actions to Promote Service Consumption - The National Development and Reform Commission will promote the application of artificial intelligence in service consumption, increase the supply of high-skilled service talents, and eliminate market access barriers to enrich high-quality service offerings [3]. - The Ministry of Culture and Tourism plans to organize multiple exhibitions, implement actions to revitalize tourism attractions, and promote the development of emerging economies such as the first-release economy, ice and snow economy, and fashion economy [3]. - The People's Bank of China has established a 500 billion yuan service consumption and elderly care relending program to guide financial institutions in increasing credit investment in key areas of service consumption and the elderly care industry [3]. Group 3: Enhancing Inbound Consumption - Inbound consumption remains a significant source of trade deficit in services, necessitating the optimization of visa exemption policies and support for enhancing the convenience of inbound tourism, medical care, and study [4]. - As the National Day and Mid-Autumn Festival approach, the Ministry of Culture and Tourism will launch quality products, special activities, and promotional measures, including a nationwide cultural tourism consumption month with over 330 million yuan in consumption subsidies [4].

Core Viewpoint - The Southern Finance Media Group has initiated a systematic transformation, launching 28 new products aimed at enhancing user experience through a "mobile-first, product-driven, data-driven" approach, focusing on four key areas: news content, investment information, financial data, and local life [1] Group 1: News Content - The Southern Finance Media Group is enhancing its financial reporting capabilities by integrating in-depth analysis from the 21st Century Economic Report and the rapid dissemination of information from Guangdong Economic Vision, creating a robust financial news matrix [2] - The group is focusing on global economic trends and the Belt and Road Initiative, establishing a "Global Financial Connection" to engage with international financial authorities and track global economic movements [2] - The "Economic Political Voice" initiative aims to provide authoritative information from central ministries, offering insights into new policies, economic logic, and market opportunities [2] - The "China City View" project will analyze urban competition in key regions like Beijing-Tianjin-Hebei and the Greater Bay Area, providing unique financial perspectives [2] - The "What is Guangdong" initiative will extend news content into economic geography and history, producing high-quality video content to capture the essence of "New Guangdong" [2] Group 2: Investment Information - The Southern Finance Media Group is strengthening its "media + investment" model, transforming information into decision-making tools to enhance wealth accumulation and create a comprehensive investment empowerment system [5] - The group plans to establish a media-led securities rights protection and investment service platform, focusing on policy trends and industry changes through the "21 Financial Circle" initiative [5] - The "Most Insured" project will delve into the insurance sector, helping users understand risks and create insurance value through policy analysis [5] Group 3: Financial Data - The Southern Finance Media Group is committed to enhancing its data application capabilities, building a data-driven economic decision-making hub for governments, enterprises, and investors [7] - The establishment of the Southern Finance Technology Laboratory will support the development of AI-driven financial data products, including "Information Pass," "Wealth Management Pass," "City Pass," and "Smart Stock Pass" [7] Group 4: Lifestyle Content - The group is focusing on areas such as investment management, quality consumption, sports health, and education, aiming to innovate content and create new service models in the local economy [11]

Core Insights - Shenzhen is innovating diverse consumption scenarios to enhance its new consumption model and expand the market [1][2] - The "2025 Shenzhen New Consumption Season" has successfully concluded, featuring over 450 promotional activities and linking with JD.com's procurement plan of 200 billion yuan [1][2] Group 1: Consumption Trends - The "2024 Golden Inner Bay Consumption Season" has stimulated consumption in the Greater Bay Area, with significant increases in tourist numbers and revenue during public holidays [2] - During the Qingming Festival, Shenzhen received 3.31 million tourists, a 9.8% increase from 2024, generating 2.155 billion yuan in tourism revenue, up 11.4% [2] - The "May Day" holiday saw 6.96 million tourists, a 36.3% year-on-year growth, with tourism revenue reaching 5.432 billion yuan, a 40.8% increase [2] Group 2: New Consumption Initiatives - The "2025 Shenzhen New Consumption Season" is structured around a "1+1+1+3+10+10+N" framework, focusing on three monthly themes and ten new consumption hotspots [3] - The initiative aims to integrate online and offline consumption, fostering new consumption growth and promoting high-quality economic development [3] Group 3: Urban Development and Retail Goals - Shenzhen's commercial planning aims for a retail total of 1.7 trillion yuan by 2030 and 2.5 trillion yuan by 2035, requiring an increase of 1.5 trillion yuan over ten years [5] - The city plans to enhance infrastructure and diversify consumption formats, targeting the establishment of 6,000 new flagship stores by 2030 and 8,000 by 2035 [5] Group 4: Commercial Projects - In 2024, Shenzhen is set to see over 20 new large commercial complexes, adding more than 1.25 million square meters of commercial space [6] - Notable projects include K11 ECOAST, which is positioned as the first flagship project in mainland China, and the revamped PA MALL, featuring a 60% introduction rate of new flagship brands [7] - In the first quarter of this year, Shenzhen added 258 new flagship and concept stores, indicating a trend towards quality upgrades in retail offerings [7]