Several policies on promoting the recovery and development of difficult industries in the service industry were jointly issued by multiple departments to solve the difficulties of the service industry
On February 18, the national development and Reform Commission and other departments jointly issued several policies on promoting the recovery and development of difficult industries in the service industry: 1) For catering / retail and other industries seriously affected by the epidemic, increase phased tax relief, partial social security fee deferment and other support; Expand the scope of application of "six taxes and two fees" and temporarily refund the deposit for tourism service quality at 80%. 2) In 2022, small and micro enterprises in the service industry and individual industrial and commercial households renting state-owned houses in medium and high-risk areas will be exempted from rent for 6 months, and those in other areas will be exempted from rent for 3 months. For the house owners who are exempted from rent, this year's real estate tax and urban land use tax will be exempted according to regulations. 3). Encourage local governments to carry out regular nucleic acid testing for employees in relevant industries free of charge, and give subsidies to enterprises for epidemic prevention and killing. In principle, more than 50% of employees should be given subsidies for regular nucleic acid testing in 2022; Guide Internet platforms such as takeout to lower the service fee standard of service merchants; Provinces with large unemployment / industrial injury insurance fund balances are allowed to implement the policy of delaying the payment of unemployment and industrial injury insurance for catering enterprises in stages; Financial institutions are encouraged to provide financing, credit enhancement and other support to qualified small, medium-sized and micro enterprises in the service industry. 4.) when the government purchases accommodation / conference / catering and other services, it is required not to restrict enterprises from participating in government procurement based on the threshold of stars and ownership, and encourage organs, enterprises and institutions to hand over the formulation and organization of exhibition activities held in accordance with the regulations to travel agencies, and pay funds to travel agencies in time in accordance with the contract. 5). Strictly implement the requirements of the "Five Prohibitions" of the epidemic prevention policy, further put forward accurate epidemic prevention requirements for the service industry, and do not increase and expand epidemic prevention measures at will. The increase and extension of tax preference is not only conducive to reducing the operating cost of enterprises, but also transmitted to consumers through the supply side. Under the environment of "steady growth", the stimulation of offline consumption and the policy assistance of enterprises will continue to be released, driving the recovery of wine, tourism, catering and other industries and repairing the profits of enterprises.
This week's view
The travel restriction policy caused by the local epidemic is a direct factor for the pressure on offline consumption formats such as scenic spots. The effective epidemic prevention system + the full spread of vaccines + the approval and landing of specific drugs + the promotion of oral drug research and development can effectively boost consumers' travel expectations. In addition, the continuous release of favorable policies can help the rapid recovery of the industry, In the future, the demand side and performance side of offline consumption such as wine, tourism and catering are expected to achieve high elastic recovery. We suggest continuing to focus on the four main lines of recovery logic: 1) 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 hotels at the bottom of the cycle / with stable long-term growth logic, and pay attention to Huazhu group; 2). Recommend Songcheng Performance Development Co.Ltd(300144) and Jiangsu Tianmu Lake Tourism Co.Ltd(603136) for high-quality scenic spots that benefit from the increased penetration of leisure tourism and peripheral tourism, and pay attention to China Cyts Tours Holding Co.Ltd(600138) with complete tourism industry chain business, Wuxi Online Offline Communication Information Technology Co.Ltd(300959) Fosun tourism culture opened up by tourism business and Changbai Mountain Tourism Co.Ltd(603099) with increased attention to ice and snow tourism; 3). It is suggested to pay attention to Haidilao, Xiabu and Xiabu, the leading catering enterprises that are expected to be repaired in the same store after the epidemic, and jiumaojiu, a new brand & a new business type that is hatching; 4). It is recommended that the tax-free sector benefiting from consumption return and consumption upgrading, as well as the human services sector in line with the stable employment orientation, and China Tourism Group Duty Free Corporation Limited(601888) , Beijing Career International Co.Ltd(300662) with prominent leading barriers are recommended.
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.
