National Development and Reform Commission: pay close attention to the introduction of a series of policies and measures to implement the strategy of expanding domestic demand
The relevant person in charge of the national development and Reform Commission pointed out the key development points in the strategy of macro-control and expanding domestic demand. 1) In terms of macro-control, stabilize the macro-economic market, accurately implement greater combined tax reduction policies around key industries such as small, medium-sized and micro enterprises, individual industrial and commercial households and manufacturing, and flexible and appropriate prudent monetary policies to maintain reasonable and sufficient liquidity, guide financial institutions to increase support for the real economy, and implement the employment priority policy, It is expected to improve the capital liquidity and talent shortage of enterprises, solve the problems of restraining social services and difficult operation, capital and expansion of enterprises under the epidemic, which is conducive to the overall development of various industries. 2) In the strategy of expanding domestic demand, it is emphasized to release consumer demand, guide enterprises to launch more customized, intelligent and green products, improve the service quality of rural tourism, healthy elderly care and characteristic home stay, and enrich the supply of peripheral tourism, suburban tourism and ice and snow tourism products, which is conducive to promoting the development of tourism. China's rural tourism, peripheral tourism, suburban tourism Ice and snow tourism will usher in a bonus period. The improvement of the quality of characteristic home stay and health and elderly care services will also promote the diversification, development and prosperity around the scenic spot and attract more tourists to stay overnight.
Spring festival tourism data
On February 6, according to the calculation of the Ministry of culture and tourism, during the seven-day Spring Festival holiday in 2022, the total number of Chinese tourists traveling in China was 251 million, a year-on-year decrease of 2.0%, and it recovered to 73.9% of the same period of the Spring Festival holiday in 2019 according to a comparable standard. In addition, China's tourism revenue during the Spring Festival holiday in 2022 was 298.198 billion yuan, a year-on-year decrease of 3.9%, returning to 56.3% in the same period of the Spring Festival holiday in 2019. On the four days before the Spring Festival holiday, Beijing and Shanghai received 3.941 million and 5.987 million tourists respectively from January 31 to February 3.
This week's view
The opinions of the relevant person in charge of the national development and Reform Commission on macro-control and the strategy of expanding domestic demand have provided a guiding light for the development of offline consumption such as culture and tourism. In the future, with the development of macro policies and the gradual expansion of domestic demand, relying on the effective environment of vaccine popularization / specific drug landing / epidemic prevention system, offline consumer demand such as culture and tourism is expected to pick up and achieve a high elastic recovery. We suggest focusing on four main lines of recovery logic: 1) Tax exemption and human services sectors with prominent leading barriers ( China Tourism Group Duty Free Corporation Limited(601888) , Beijing Career International Co.Ltd(300662) ); 2). Recommend Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) , Shanghai Jin Jiang International Hotels Co.Ltd(600754) , Btg Hotels (Group) Co.Ltd(600258) high-quality targets of the hotel sector at the bottom of the cycle / with stable long-term growth logic, and pay attention to Huazhu group; 3). Recommend Songcheng Performance Development Co.Ltd(300144) , Jiangsu Tianmu Lake Tourism Co.Ltd(603136) of high-quality scenic spots that benefit from the increased penetration of leisure / peripheral tourism, and pay attention to China Cyts Tours Holding Co.Ltd(600138) and Wuxi Online Offline Communication Information Technology Co.Ltd(300959) Fosun tourism with complete tourism industry chain business; 4). It is suggested to pay attention to Haidilao, the leading restaurant that is expected to be repaired in the same store after the epidemic, and jiumaojiu, a new brand & a new business type that is hatching.
Risk tips
Macroeconomic fluctuation risk; Repeated outbreaks exceed the expected risk; The risk of intensified industry competition; The landing of new projects / products is less than the expected risk; Food safety risks; Risk of major teaching accidents
