In its macroeconomic planning for next year, the central economic work conference made it clear that next year’s economic work should be stable and seek progress while maintaining stability. One point pointed out that we should implement the strategy of expanding domestic demand and enhance the endogenous driving force of development. We believe that in the idea of stabilizing the economy next year, a series of policies to promote consumption may be introduced. Consumption will become an important support and force point for stabilizing the economy and will also be good for food and beverage consumption.
The consumption policies involved in this meeting are: we should correctly understand and grasp the supply guarantee of primary products. To deepen the supply side structural reform, we should focus on unblocking China’s great cycle, breaking through the blocking points of supply constraints, and opening up all links of production, distribution, circulation and consumption. Social policies should firmly grasp the bottom line of people’s livelihood. We should comprehensively promote economic development and people’s livelihood, and improve the system of providing basic public services in permanent residence. We will promote the implementation of the new fertility policy and actively respond to the aging population.
From the perspective of policy expression, the national policy ideas for consumption support next year will ensure basic supply from the perspective of supply chain, reduce enterprise costs, and introduce policies to promote end consumption such as consumption vouchers and tax deduction. In terms of income structure, the state adjusts the income structure through transfer payment and the establishment of security system, as well as stimulates residents’ consumption will. We judge that although the elasticity of food and beverage is less than that of alternative consumption, but because of the cold overall consumption environment this year, if the consumption environment is resumed next year, the food and beverage will also be boosted. The first thing is the track of Baijiu, condiments and prefabricated dishes.
Risk tips:
The impact of the epidemic has increased, has a greater impact on the macro-economy, and has a greater impact on the demand for food and beverage. The company has major management defects, etc.
Review of Hong Kong Stock Market:
This week, the essential consumption index of Hong Kong stocks rose 2.69%, of which the key companies rose or fell by – 3.61%, Yihai international 1.02%, China flying crane 10.15%, nongnongshan spring 1.29%, Mengniu Dairy 2.70% and Budweiser Asia Pacific 5.64%.
