据媒体报道，《国内贸易发展规划(2011-2015年)》即将出台，这是改革开放以来第一部国家级内贸发展专项规划。该规划涉及批发业、零售业、住宿和餐饮业、居民服务业等方面，旨在发挥内贸引导生产、扩大消费等方面的作用，目标是到2015年，实现社会消费品零售总额32万亿元，比现有规模增长约80%。

According to media reports,[Domestic trade development planning(2011-2015)]upcoming,This is since the reform and opening up the first a national domestic trade development special planning.The plan involves wholesale business/retail/Accommodation and catering industry/Residents service, etc,Aims to play domestic trade guide production/Expand consumption of action,Goal is to 2015,The realization of social total retail sales of consumer goods is 32 trillion yuan,Existing scale growth than about 80%.

　　观点普遍认为，内贸十二五规划的出台将长期利好A股，而零售、旅游餐饮、木业家具等三大板块将有望受益。

View is generally believed that,Domestic trade 1025 planning come on stage will be the long-term bullish A share,While the retail/Tourism catering/Wood furniture, the three big plate is expected to benefit.

　　零售板块：规划促发展电子商务、网络购物等消费业态

Retail plate:Planning to promote the development of electronic commerce/The network shopping consumption such as format

　　内贸“十二五”规划中明确提到，要引导新型消费方式，鼓励发展信用消费，支持商贸服务企业扩大信用销售规模；积极发展电子商务、网络购物等消费业态。

Domestic trade"1025"Planning to clear,Will guide the new pattern of consumption,Encourages the development of consumer credit,Support business service enterprise to expand credit sales scale;Actively developing electronic business/The network shopping consumption such as format.

　　目前，我国电子商务规模2015年将达2万亿元。申银万国研报认为，消费零售迈入一个稳定的低增长周期。目前，网购以一种非理性竞争方式在冲击实体零售。“淘品牌” 和“代购”的崛起，倒逼品牌商梳理商品渠道，统一价格体系，为实体零售差异化经营提供支撑。精简渠道层级，有利于零售商的规模采购和买手制的培养，为今后的线上渗透做好铺垫；渠道扁平化背景下，零售商核心竞争能力将从招商和物业经营能力向商品经营和消费者服务能力转化。

At present,Our country electronic commerce scale in 2015 will reach 2 trillion yuan.ShenYin WanGuoYan to think,Consumer retail entering a stable low growth cycle.At present,The net with a kind of irrational competition mode in impact retail entity."Tao brand" and"Act as purchasing agency"rise,DaoBi brands carding commodity channels,Uniform price system,For physical retail differentiation management to provide support.Streamline channel level,To the size of the retailers procurement and buy handmade culture,For future online penetration animals;Under the background of flattening channels,Retailers core competition ability from the investment and property management ability to commodity business and consumer service ability transformation.

　　申银万国同时维持行业中性的评级，但由于估值已经处于底部，因此较之前的态度更乐观。

ShenYin all nations at the same time maintain industry neutral rating,But as a result of valuation has been at the bottom,So the attitude of the than before more optimistic.

　　博时基金则认为，由于经济形势不明朗，未来市场分化会加剧，符合政策方向的中小盘有更多机会。尤其是零售板块，由于很多零售企业自持物业，存在被低估的可能，可以更多关注。

When rich, think fund,Because of the economic situation unclear,Future market differentiation will aggravate,In line with the policy direction of the small dish with more opportunities to.Especially retail plate,Because a lot of retail enterprise self sustaining property,There may be underestimated,Can pay more attention.

　　旅游餐饮板块：将降低餐饮等商贸服务行业税负

Tourism catering plate:Will reduce the catering trade service industry tax

　　内贸规划中提到，将降低餐饮等商贸服务行业税负，将营业税率由5%恢复到3%，有条件的逐步改为征收增值税。

Domestic trade planning mentioned,Will reduce the catering trade service industry tax,Will business tax rate from 5% to 3% recovery,Conditional gradually changed to impose value added tax.

　　数据显示，2012上半年，旅游上市公司业绩继续保持高增长态势，1月至6月，旅游板块共实现营业收入 199.57 亿元，同比增长 20.65%；实现归属于母公司所有者的净利润 16.87 亿元，同比增长 23.58%。

Data display,The first half of 2012,Tourism performance of listed companies continue to maintain high growth situation,January to June,Tourism plate were realize operating income 199.57 One hundred million yuan,Year-on-year growth 20.65%;Realize belongs to the owner of the parent company net profit 16.87 One hundred million yuan,Year-on-year growth 23.58%.

　　申银万国研究报告显示，目前我国旅游业上市公司数量很少、覆盖度低，加之这些公司涉及的业务少且较为单一，未来投资价值比较突出。

ShenYin universal research report,At present our country tourism listed company few in number/Coverage is lower,Together with the companies involved in the business and less is relatively single,The future investment value is more outstanding.

　　中信建投表示，在大盘下行过程中，餐饮旅游行业仍然存在下跌空间，但是行业基本面并未发生改变，我们认为市场调整过程恰是投资机会出现的时候，维持行业“增持”评级。

Citic built cast said,In the grail descending process,Catering tourism industry still exist down space,But industry fundamentals did not change,We think the market adjustment process is just investment opportunity appeared,Maintain industry"increasing"rating.

　　国信证券认为，一般而言，旅游行业受经济波动影响相对较小。在人均可支配收入不断增长、居民休假时间增加、交通改善与出行成本下降、人口结构以及政策支持等几大驱动因素下，旅游业目前处于高速增长阶段，板块未来表现依旧看好。

Securities held that,Generally speaking,Tourism industry by the economic fluctuations relatively small.In the per capita disposable income increase/Residents vacation time increased/Traffic improvement and travel cost down/Population structure and the policy support and so on several big under the driving factors,Tourism is at a high speed growth stage,Plate future performance is still good.

　　木业家具板块：对家具建材等产品消费进行补贴

Wood furniture plate:To furniture building materials product consumption subsidies

　　据专家预计，2012年家具、建筑及装潢材料消费增长将达到或近30%，成为消费增长的重要亮点。

According to experts expect,2012 furniture/Building and decoration materials consumption growth will reach or nearly 30%,Become an important window consumption growth.

　　媒体报道也表明，2012年，全国将新开工建设保障房700万套，其中的400万套将会在年底建成。保障房的建设将为家具类商品消费提供稳定的需求支撑。而在限购政策影响较大的一线城市，继汽车、家电类产品升级换代之后，家具类商品的消费可能成为消费结构升级的重要载体。

Media reports also shows,In 2012,,The national will start new construction of security housing 7 million sets,One of the 4 million sets will be built at the end of the year.The construction of guarantee room for furniture goods consumption provide stable demand support.In purchasing policy influence a bigger one line city,The car/Home appliance products after upgrading,Furniture goods consumption may become an important carrier of the consumption structure upgrade.

　　东兴证券研究报告指出，如果仅在北京市推行家具以旧换新政策，则对整体家具消费的拉动作用小于0.5%；如果在全国范围内推行，根据家电以旧换新的经验，将能额外拉动约15%的终端消费，家具内销增长率将能达到35%。

Large securities research report says,If only in the implementation of the furniture with the old in the new policy,The whole furniture role in boosting consumption is less than 0.5%;If in the nationwide implementation,According to the home appliance with the old in the new experience,Will additional pull about 15% of the terminal consumption,Furniture sale in domestic market growth rate will reach 35%.