According to the Huatai Securities Research Report, according to the National Bureau of Statistics, the total amount of Social Security Zero increased by 1.3% to about 4.4 trillion yuan in November. The growth rate fell 1.6 pct, lower than Wind's unanimous expectations. It was mainly affected by the advance of the “Double Eleven” promotion cycle and the rise in the country's supplement base, such as home appliances and furniture. Retail sales of consumer goods other than automobiles increased 2.5% year over year. Looking forward to the future, as special actions to boost consumption continue to deepen and high-quality supply increases, domestic consumption is expected to continue its moderate recovery trend. The consumer sector suggests focusing on structural opportunities such as the rise of domestic goods, AI+ consumption, emotional consumption, and undervalued and high-dividend white horses.

According to the Huatai Securities Research Report, according to the National Bureau of Statistics, the total amount of Social Security Zero increased by 1.3% to about 4.4 trillion yuan in November. The growth rate fell 1.6 pct, lower than Wind's unanimous expectations. It was mainly affected by the advance of the “Double Eleven” promotion cycle and the rise in the country's supplement base, such as home appliances and furniture. Retail sales of consumer goods other than automobiles increased 2.5% year over year. Looking forward to the future, as special actions to boost consumption continue to deepen and high-quality supply increases, domestic consumption is expected to continue its moderate recovery trend. The consumer sector suggests focusing on structural opportunities such as the rise of domestic goods, AI+ consumption, emotional consumption, and undervalued and high-dividend white horses.