消费作为经济增长的重要引擎，一头连着宏观经济，一头连着千家万户。 11月14日，国务院总理李强主持召开国务院常务会议，部署增强消费品供需适配性进一步促进消费政策 措施。消费新场景新业态、人工智能融合赋能成为两大关键词。 中国数实融合50人论坛智库专家洪勇向21世纪经济报道记者表示，此次国常会部署消费政策的亮点，是 从传统的"拉动需求"转向"优化供给结构"，强调通过提升供给质量来释放消费潜力。"增强供需适配 性"意味着消费政策从过去强调"刺激买"转向强调"提供更适合消费者想买的产品"。从总量扩张逻辑迈 向结构优化逻辑，体现了消费治理的转变。 "特别是提出以消费升级引领产业升级、通过标准提升、柔性制造、特色供给实现更高水平的供需动态 平衡，本质是推动中国消费从'有没有'迈向'好不好''合不合适'，将成为构建高质量内需体系的关键抓 手。"洪勇说。 打造消费新场景新业态 国家统计局数据显示，今年1—10月，社会消费品零售总额412169亿元，增长4.3%；10月份社会消费品 零售总额46291亿元，同比增长2.9%。专家指出，10月份社零增速放缓，反映出传统大宗消费动力不 足，而特色消费、品质消费、个性消费尚未充分释 ...

消费作为经济增长的重要引擎，一头连着宏观经济，一头连着千家万户。 11月14日，国务院总理李强主持召开国务院常务会议，部署增强消费品供需适配性进一步促进消费政策 措施。消费新场景新业态、人工智能融合赋能成为两大关键词。 中国数实融合50人论坛智库专家洪勇向21世纪经济报道记者表示，此次国常会部署消费政策的亮点，是 从传统的"拉动需求"转向"优化供给结构"，强调通过提升供给质量来释放消费潜力。"增强供需适配 性"意味着消费政策从过去强调"刺激买"转向强调"提供更适合消费者想买的产品"。从总量扩张逻辑迈 向结构优化逻辑，体现了消费治理的转变。 "特别是提出以消费升级引领产业升级、通过标准提升、柔性制造、特色供给实现更高水平的供需动态 平衡，本质是推动中国消费从'有没有'迈向'好不好''合不合适'，将成为构建高质量内需体系的关键抓 手。"洪勇说。 21世纪经济报道 记者周潇枭 见习记者张旭 北京报道 具体来看，包括商圈向多元消费场景升级、发展夜间经济、特色商业街优化升级，打造特色消费场景等 方面。 目前，上述建设已经取得了一些进展。商务部数据显示，2024年，全国示范步行街（商圈）共实现客流 量超4000亿人次、营 ...

Core Viewpoint - The article discusses the necessity of enhancing macroeconomic policies to address fluctuations in various economic indicators and emphasizes the importance of the "Two Major" construction initiatives to stimulate consumption and investment in China [3][4]. Group 1: "Two Major" Construction Initiatives - The "Two Major" construction refers to the implementation of national strategic projects and the enhancement of key security capabilities, with a budget of 800 billion yuan allocated for 1,459 projects in 2025 [6]. - Key areas of investment include ecological restoration of the Yangtze River, major transportation infrastructure, new channels in the western region, high-standard farmland, major water conservancy projects, and urban underground pipeline networks [6]. - The government aims to optimize project reviews, focusing on innovation and intangible asset investments, while ensuring project quality and safety management [7]. Group 2: Enhancing Supply and Demand Adaptability - Enhancing supply and demand adaptability is seen as a crucial measure to unleash consumption potential and facilitate economic circulation [8]. - The shift in consumer behavior towards quality and personalized consumption necessitates a mutual promotion of industrial and consumption upgrades [9]. - The government plans to accelerate the application of new technologies and models, particularly in artificial intelligence, to develop new products and services that meet diverse consumer needs [10][11].

Core Viewpoint - The Chinese government is enhancing macroeconomic policies to address fluctuations in economic indicators and promote consumption through strategic projects and improved supply-demand matching [1][4]. Group 1: "Two Heavy" Construction - The "Two Heavy" construction refers to the implementation of major national strategies and the enhancement of security capabilities in key areas, with a budget of 800 billion yuan allocated for 1,459 projects by 2025 [2][3]. - Projects include ecological restoration of the Yangtze River, major transportation infrastructure, and significant water conservancy projects, with all project lists for this year already issued [2][3]. - The government aims to optimize project reviews, focusing on innovation and intangible asset investments to promote new productive forces [2][3]. Group 2: Enhancing Supply-Demand Adaptability - Enhancing supply-demand adaptability is seen as a crucial measure to unleash consumption potential and facilitate economic circulation [4][6]. - The shift in consumer behavior towards quality and personalized products necessitates a mutual promotion of industrial and consumption upgrades [5][6]. - The government encourages the development of new technologies and business models, particularly in artificial intelligence, to expand high-quality consumer goods supply [6][7].

Group 1: Economic Policy and Strategy - The core viewpoint emphasizes enhancing the adaptability of supply and demand as an effective measure to unleash consumption potential and facilitate economic circulation [1][4] - The State Council meeting led by Premier Li Qiang on November 14 focused on implementing "two major" construction initiatives to boost consumption policies [1][2] - The "two major" initiatives involve significant national strategic implementations and enhancing security capabilities in key areas, with a budget of 800 billion yuan allocated for 1,459 projects by 2025 [2][3] Group 2: Consumption and Supply-Demand Dynamics - The meeting highlighted the need for consumption upgrades to lead industrial upgrades, aiming for a dynamic balance between supply and demand [4][5] - The shift in policy focus is moving from merely stimulating consumption or expanding production to achieving a higher level of dynamic balance and interaction between supply and demand [5] - The Ministry of Industry and Information Technology is promoting the development and application of technologies such as artificial intelligence to enhance consumption adaptability [6]

Group 1: Sales Performance - During this year's "Double 11," multiple online sales platforms reported impressive consumer data, with JD.com seeing a 40% increase in the number of users placing orders and nearly a 60% increase in order volume [1] - Douyin reported that from October 9 to November 11, 67,000 brands achieved sales growth of over 100% year-on-year [1] - Tmall indicated that as of November 5, the number of e-commerce orders from new users on Taobao Flash Sale exceeded 100 million during "Double 11" [1] Group 2: Consumer Trends - The technology consumption market is thriving, with consumers showing high enthusiasm for smart home appliances and wearable devices, leading to significant sales increases in categories like smart glasses and AI products [3] - Smart glasses sales surged by 25 times year-on-year, with some brands achieving over 700% growth in transaction volume [3] - AI tablet sales increased by 200% and large-screen AI smartphones by 150% during "Double 11" [3] Group 3: Travel and Leisure Spending - Consumers are increasingly planning for vacations and leisure activities, with significant growth in service-related spending during "Double 11," including a 7.3 times increase in hotel night bookings and a 4.5% increase in airline ticket sales [4] - High-value, flexible travel products like airline mileage cards are gaining popularity among consumers, indicating a strong demand for innovative travel solutions [4][5] Group 4: Passion-Driven Purchases - Consumers are willing to spend on unique and artisanal products, with traditional craftsmanship items like handmade iron pots seeing a 5500% increase in sales on Douyin [6] - Collaborations with popular IPs in the gold market have emerged as a new growth point, with several IP gold products launched during "Double 11" [6]

当第17个双11落下帷幕，这场始于2009年的消费节日，正逐渐褪去"流量狂欢"的外衣，转向"价值竞 争"的新阶段。 2025年双11期间，各大平台并未披露GMV（商品交易总额）数据，但多家平台对新京报贝壳财经记者 表示，平台商品成交额创新高。 截至记者发稿时，京东双11数据显示，平台下单用户数增长40%，订单量增长近60%；天猫双11数据显 示，截至11月5日，淘宝闪购带来的新用户，在本次双11期间的电商订单数已超过1亿；小红书"种草直 达"在各大电商平台中实现成交额破千万的单品已超过100个，成交额超100万的商品近1000个。 理性消费特征愈发凸显，头部直播间不再疯抢"最低价"，AI（人工智能）全面渗透购物全链路，而"中 国制造"则借助电商加速"破圈"走向世界，成为今年双11最显著的三大趋势。 理性消费升温：告别"史上最低价"开打"价值战" "今年双11，我提前列了清单，只买需要的东西，没再为凑满减熬夜下单。"在北京工作的白领刘女士告 诉新京报贝壳财经记者，她今年双11的消费总额较去年减少了30%，"以前觉得不买就亏了，现在更看 重商品的实用性和性价比。" 刘女士的感受并非个例。艾瑞咨询报告显示，"跨平台 ...

□ 中国宏观经济研究院 徐 策 中国经济信息网 左登基 □ 新一代智能终端与智能体，作为连接人工智能大模型能力与现实世界任务执行的关键载体，不仅是人 工智能技术落地的核心接口，更是实现"人工智能+"赋能千行百业、服务千家万户的重要抓手 □ 当前，我国推动新一代智能终端和智能体等应用顶层设计不断完善，技术生态日益成熟，行业发展 从"技术驱动"迈向"价值交付"，人工智能步入大规模普及商用的黄金机遇期 □ 伴随政策与市场有力驱动，新一代智能终端和智能体等应用将激活新的万亿规模增量市场空间。预计 到2030年，中国AI终端市场销售收入将达1.48万亿元，从2024年至2030年间，复合增长率将达到37.33% □ 当前，新一代智能终端与智能体正处于从技术突破迈向规模应用的关键攻坚期，但仍面临基础设施支 撑不足等多重掣肘，亟须以国家战略需求为统领，以应用需求为导向，系统谋划、协同推进重大制度改 革、重大技术攻关和重大场景落地，通过实施系统性政策创新，加快构建支撑"人工智能+"行动的全产 业链服务生态 党的二十届四中全会通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》明确指 出，全面实施"人工智能+"行 ...

聚焦制造业这一人工智能的应用主战场 我国将聚焦制造业这一人工智能应用的主战场，支持国内外机构挖掘"人工智能+制造"的高价值场景， 实现模型、数据、场景的联动，培育新业态新模式。 在11月5日举行的第八届虹桥国际经济论坛"人工智能产业高质量发展"分论坛上，工业和信息化部副部 长熊继军表示，当前人工智能领域颠覆性的变革正在酝酿，智能时代加速到来，中国将扎实推进人工智 能产业高质量发展，加快推进人工智能赋能新型工业化。 接下来，熊继军表示，要创新合作，支持国内外企业、高校、科研机构组建创新体，深入开展技术和人 才的交流合作，特别是要发挥开源社区的驱动作用，加速优质的模型、项目资源和行业数据有效合作， 高效配置创新资源，让人工智能惠及更大范围的开发者群体。 同时，还要共拓应用场景。聚焦制造业这一人工智能的应用主战场，支持国内外机构挖掘"人工智能 +制造"的高价值场景，实现模型、数据、场景的联动，培育新业态新模式，推动人工智能赋能实体经 济的发展。 作为"AI+制造"的最佳实践场，上海也正积极开展智能工厂建设工作，目前已累计培育12家国家卓越级 智能工厂，254家上海市先进级智能工厂，高水平智能工厂数量国内领先，有力推 ...

Market Performance - On November 3, the market rebounded with total trading volume at 2.11 trillion, a decrease of approximately 210.7 billion from the previous trading day[3] - The Shanghai Composite Index rose by 0.55%, the Shenzhen Component increased by 0.19%, and the ChiNext Index gained 0.29%[3] - On November 4, the market continued to rise with a trading volume of 2.13 trillion, down about 220 billion from the previous day[1] Sector Trends - Traditional sectors like steel and coal saw significant gains, while sectors such as non-ferrous metals, home appliances, and automobiles experienced slight declines[1] - Technology-related sectors, particularly media and computing, showed a notable increase in both volume and price, indicating strong market interest[1] Capital Flow - On November 3, net inflow in the Shanghai market was 10.83 billion, while the Shenzhen market saw a net outflow of 2.55 billion[4] - The top three sectors for capital inflow were power grid equipment, photovoltaic equipment, and IT services, while the top outflow sectors included batteries, industrial metals, and securities[4] Policy and Economic Developments - The People's Bank of China and the Bank of Korea renewed a bilateral currency swap agreement with a scale of 400 billion RMB/70 trillion KRW, effective for five years[5] - Zhengzhou aims to develop an influential seed industry by 2027, targeting a scale of 5.5 billion RMB in the industry chain[6] Industry Dynamics - The Southern Power Grid's market has achieved over 70% of its trading volume through market-based transactions, with green certificate trading accounting for 63% of the national total[10] - The ETF market has seen explosive growth, with an increase of over 2 trillion in scale within 10 months, reaching a total of 5.74 trillion RMB[15]