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Breaking News | The Ministry of Commerce introduces new consumer policies, and consumer vouchers are being distributed in many places! Hong Kong stocks dining stocks soared in the afternoon, Helen's surged more than 20%.
Peking, tianjin, shanghai, and chongqing will issue dining, cultural tourism, sports, and other service consumption vouchers, and these policy measures will generate a cumulative effect with the Consumer Month activities.
Spotlight on Changes | Dining stocks rebounded in early trading, with impressive performance in the dining market during the National Day holiday, consumer goods companies expected to improve profitability visibility this year.
Dining stocks rebounded in the morning session. As of the time of publication, jiumaojiu rose by 7.55% to HKD 4.13; Haidilao rose by 5.65% to HKD 16.82; xiabuxiabu rose by 1.71% to HKD 1.19; yum china rose by 2.19% to HKD 364.6.
Dining consumer "hot and spicy" Several companies see a large increase in customer traffic during the National Day holiday.
According to Securities Daily on October 8, during the National Day holiday, the dining industry was bustling, with dining consumption being "hot and spicy". Meituan data shows that in the first 5 days of this year's National Day holiday, average daily consumption of dining in restaurants increased by 33.4% compared with the same period in 2023. In terms of consumption time periods, nighttime consumption increased by 44.8 percentage points compared to the same period in 2023.
China International Capital Corporation: During the National Day holiday, various consumer data saw a significant year-on-year growth. Categories such as household appliances, gold, and jewelry showed impressive performance.
In 2024, the consumer data for the "Golden Week" have been successively released. Overall, with the strong support of national policies to promote consumption and stabilize the economy, various consumption data during the Golden Week have shown significant year-on-year growth, and also improved compared to the previous period.
EPD: The adaptation period for the new law on regulating disposable plastics will expire on the 21st of this month.
The Environmental Protection Department announced that the 6-month adaptation period for the new legislation on single-use plastics will end in two weeks (October 21), reminding all relevant businesses to make preparations for the end of the adaptation period. A spokesperson for the Environmental Protection Agency stated that during the approximately 5-month adaptation period, the new legislation has successfully sparked a trend of "waste reduction" across all sectors. The dining industry has reflected that many takeaway customers have gradually become accustomed to bringing their own reusable tableware. Chain restaurants have indicated that about 80% of customers have chosen not to use takeaway utensils, with approximately 30% of restaurants no longer providing any takeaway utensils. In the retail and service sectors, property management companies have stated that the majority of residents have become accustomed to using umbrellas to remove water.
The central bank has launched two measures at the same time! The reserve requirement ratio is reduced by 0.5 percentage points, and the 7-day reverse repurchase operation interest rate is lowered by 20 basis points.
Starting from September 27, 2024, the reserve requirement ratio for financial institutions is reduced by 0.5 percentage points. After this reduction, the weighted average reserve requirement ratio for financial institutions is approximately 6.6%.
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