On August 6, Citigroup published a report stating that the State Council's "Opinions on Promoting the High-quality Development of the Service Consumption" has positive significance for the mainland internet and media industry. The opinion elaborates on the support direction for food and lodging, tourism, entertainment, and digital consumption. The bank expects that service consumption, including entertainment consumption such as music, movies, online games, and esports, as well as tourism and local services, will remain resilient in a weak macro environment. Citigroup reaffirms its "buy" rating on the following stocks and its preferred stocks include lodging and dining, and tourism beneficiary Meituan; online travel agencies (OTAs) including Ctrip and Tongcheng Travel; online game companies including Tencent and NetEase; and leisure or entertainment companies such as Tencent Music and Maoyan Entertainment.
大行评级｜花旗：促进服务消费意见对内地互联网和媒体行业具有积极意义
Major bank rating: Citigroup believes that the promotion of the service Consumer Opinion is positive for the mainland Internet and media industries.
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