GTHT has released a research report stating that leading tourism enterprises are benefiting from policy support. With the growth in employee cultural and sports consumption, these companies are expected to gain from policy-driven tailwinds in the short term, while achieving sustained performance growth over the long haul. Particularly driven by preferential measures such as scenic spot annual passes and cultural tourism consumption vouchers, consumer demand in related sectors is set to be further unleashed, creating potential growth opportunities. Key focus areas include: 1. Tourism data expected to continue exceeding expectations, maintaining a positive outlook on the travel chain. 2. Significant improvement in the competitive landscape. 3. Dividend stocks. 4. AI+. 5. Oversold stocks. GTHT's main views are as follows:
Four ministries and commissions issued a document to promote employee cultural and sports consumption. On January 6, 2026, the All-China Federation of Trade Unions, the Ministry of Culture and Tourism, the National Film Administration, and the General Administration of Sport jointly released the "Opinions on Further Promoting the High-Quality Development of Employee Cultural and Sports Work in the New Era and Expanding Employee Cultural and Sports Consumption" (hereinafter referred to as the "Opinions"). The document emphasizes the need to further expand employee cultural and sports consumption and unleash their consumption potential. The "Opinions" outline the goal of basically establishing a comprehensive, hierarchical, and distinctive employee cultural and sports activity system by 2030. This includes creating a number of nationally influential employee cultural and sports brand projects, enhancing the quality and efficiency of employee cultural and sports services, fostering a healthy, civilized, uplifting, and fully participatory employee culture, and better satisfying the diverse, multi-level, and multifaceted spiritual and cultural needs of the workforce.
The document encourages conducting up to four spring and autumn outings per year and advocates for increasing the proportion of union funds allocated to employee cultural and sports activities. It encourages expanding the use of union membership fees for organizing such activities. Efforts will be made to promote collective negotiations between employers and employees regarding employee cultural and sports activities and paid annual leave, clarifying terms related to funding guarantees and scheduling. The scale of employee recuperation and rest breaks will be expanded, with encouragement for eligible organizations and localities to increase union fund subsidies for these purposes. Trade unions at all levels are encouraged to increase the number of spring and autumn outing activities based on local conditions, with a maximum of four outings permitted annually. Unions are also urged to collaborate with departments responsible for culture, tourism, film, and sports to launch exclusive discounted cultural and sports products and services for employees, covering areas such as performing arts attendance, movie viewing, sports event spectating, and fitness activities.
Support will be provided for regions, relevant platforms, and cultural tourism enterprises to develop annual pass products for tourist attractions based on employee cultural and sports needs and the specific conditions of the scenic spots. Grassroots trade unions are encouraged to issue cultural tourism consumption vouchers and movie tickets according to their actual situation, organize thematic film screenings, and support the operation of the "Worker-Friendly Cinema Chain." Furthermore, grassroots unions are encouraged to use membership fees to purchase annual passes for tourist attractions within their province or region, as well as other cultural tourism products, for their members.
Risk warnings include potential regional disparities in policy implementation intensity and market competition risks.
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