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The release of the new M5 official map will be listed on April 23rd.

On April 11th, at the HarmonyOS Ecological Spring Communication Meeting of Huawei, Yu Chengdong, managing director of Huawei, CEO of BG and chairman of BU, a smart car solution, announced that the new M5 will be officially listed on the eve of the opening of Beijing Auto Show on April 23rd.

Judging from the official official map, the new M5 in Wenjie is basically consistent with the current model in terms of styling, and the new car has added red paint. We expect that the new M5 and M7 will be the same, and the price threshold will be further lowered while upgrading in terms of configuration and cruising range, so as to enhance the competitiveness of the whole vehicle.


Follow the subway to Shanghai

Take the subway to visit Shanghai, "never leave Shanghai" for the National Day! Rail Transit Line 10 is a famous tourist line in Shanghai Railway. Shanghai Zoo, Wu Kang Road, Xintiandi, Chenghuang Temple and Nanjing East Road are all popular punch points, and the specialty shops and food in each place should not be missed ~

-Shanghai Zoo-

Shanghai Zoo is adjacent to Shanghai Hongqiao International Airport. Founded in 1954, it was originally named Xijiao Park. There are more than 400 kinds of animals on display in the park, which is one of the top ten zoos in China.

There are world-famous giant pandas known as "national treasures" and "living fossils", rare wild animals such as golden monkey, South China tiger and alligator in China, and representative animals from all over the world such as gorillas, African lions, giraffes, kangaroos and tapirs in South America.

Travel tips ↓↓↓

Address of scenic spots: No.2381 Hongqiao Road, Shanghai.

Opening hours: March 1st-October 31st: 08: 00-17: 00; 1 November-28 February: 08:00-16:30

Ticket price: Ordinary ticket: 40 yuan/person; Student ticket: 20 yuan/person; Old age ticket: 36 yuan/person

Transportation: Exit 4 of Shanghai Zoo Station on Metro Line 10.

-Huang Jincheng Road Pedestrian Street-

Gubei Huang Jincheng Road Pedestrian Street is located in the core area of Gubei, Changning, and is a municipal characteristic block. Surrounding foreign communities gather, and personalized restaurants, entertainment and living shops that are open 24 hours a day show exotic customs everywhere, providing the public with a unique open space and a safe haven away from the noise.

Ding Wang Wu Lao Guo

677 Huang Jincheng Road (near Yinzhu Road)

In Taiwan Province, Ding Wang, recommended by stars like Xiao S, Jolin Tsai and hebe, has no old pot! Super popular queuing hot pot, the whole ginseng is added to the soup base, the spicy soup base is combined with collagen beauty soup base, which is really fresh but not dry, and the ice cream tofu learned by the owner from Japan is definitely a wonderful hot pot experience.

the terrace

693 Huang Jincheng Road (near Yinzhu Road)

The terrace is a small Italian restaurant with a neighborhood style. The romantic 200-square-meter terrace restaurant and the simple cuisine produced under the guidance of the famous Italian Michelin restaurant la gallina will continue to bring surprises to diners. The newly set private box is very suitable for small parties! Especially the pizza baked with pure fruit trees is crispy outside and crisp inside, and the attractive aroma goes straight into the nasal cavity. No matter you are a herbivore or a carnivore, you can definitely get the wonderful experience of Italian family dinner here ~

Huang Jincheng Road has different beautiful scenery in different seasons. In late autumn, when ginkgo is fragrant, it has become a good place for many tourists to stop and take photos and punch in.

Address: Huang Jincheng Road, Shanghai.

Opening hours: all day

Transportation: Exit/entrance 3 of Yili Road Station of Metro Line 10.

-Shanghai Gaodaowu Department Store-

Shanghai Gaodaowu Department Store is an all-round high-end department store that covers international high-end brands, clothing, cosmetics, jewelry, household items, food and other department stores. There are many online celebrity food shops in the shopping mall, among which Qimin Market, pony Boni Workshop and Crab Pavilion are deeply loved by tourists.

Address: No.1438 Hongqiao Road, Shanghai

Opening hours: 10: 00-22: 00.

Transportation: Exit/entrance 3 of Yili Road Station of Metro Line 10.

-Cheng Shifa Art Museum-

Cheng Shifa Art Museum, which was prepared and constructed by Shanghai China Painting Academy, took nearly three years to complete, covering exhibition places, public cultural service places and multi-functional lecture halls. The art museum has six functions: collection and preservation, academic research, exhibition of works, education and promotion, cultural exchange and public service. It is not only a research and exhibition space for famous Shanghai-style artists, but also a cultural responsibility for the inheritance and development of Shanghai-style art.

Address: No.1398 Hongqiao Road, Shanghai (intersection of Hongqiao Road and Yili Road)

Opening hours: 10: 00-18: 00 (admission is closed at 17: 00). The museum is closed on Mondays and normally opens on holidays.

Transportation: Exit/entrance 3 of Yili Road Station of Metro Line 10.

-Wu Kang Road-

Wu Kang Road, located in Xuhui District, Shanghai, was originally named John Calvin Ferguson Road, named after American missionary John John Calvin Ferguson, and was built in 1907 (Guangxu thirty-three years). Wu Kang Road is known as "Celebrity Road", which condenses the modern history of Shanghai for a hundred years. There are 14 outstanding historical buildings along the road, and 37 historical buildings are preserved.

Wukang building

Bajin former residence

Hengfu style house

Cape Town Apartment

How can Wu Kang Road, which is full of European customs, be short of western food?

Pistacchio restaurant bar

1/F, No.378 Wu Kang Road

Pistacchio means pistachio, and the environment will remind people of many beautiful restaurants in Europe and America.

The restaurant focuses on northern Italian cuisine, while incorporating the cooking styles of Provence and the Mediterranean, and many creative meals are presented in an unprecedented way.

The most important thing to miss in this store is Shu Fulei. It can be said that the store must order. Order one while it is hot, with a cup of coffee, which is sweet, soft and not greasy.

Address: Wu Kang Road, Shanghai.

Opening hours: all day

Transportation: Exit 3 of Shanghai Library Station on Rail Transit Line 10.


Strolling through a new world is like going back in time, like being in Shanghai in the 1920s and 1930s, but stepping into every building in one step is very modern and fashionable. K11, Hong Kong Plaza, Xintiandi Plaza, Zhonghai Huanyuhui, Fuxing soho…… … these well-known trend landmarks have attracted numerous famous brands at home and abroad.

For foodies, Xintiandi is also a good place to punch in! Japanese food, western food, hot pot, dessert … This is a "gathering place for food from all over the world"!

·shake shack·

No.10, Xintiandi Beili, Lane 181, Taicang Road

God-class hamburger restaurant from new york! Almost every time I go, I have to queue up! The signature beef burger that must be ordered, the beef patties are thick and tender, which have completely exploded many hamburger shops.

·green & safe·

Floor 1, No.22, Xintiandi Beili, Lane 181, Taicang Road

Super popular organic restaurant! The popularity is not lost, shake shack!

The store is full of fruits and vegetables, as well as meat from YEATION all over the world, just like visiting a huge market! Many cooking ingredients also come from their own organic farms, giving people the comfort of returning to nature!

Tao Taoju

F1 Floor, Xintiandi Beili, Lane 181, Taicang Road

Guangdong’s famous old Cantonese cuisine, Taotaoju, which started in 1880 and has a history of 139 years, is the first stop for many people to eat delicious food in Guangzhou! Now, I have saved the air ticket money and sent the century-old Cantonese cuisine directly to your mouth!

·letao Xiao Zun Yang Guo Zi Pu

Unit 103, No.159 Madang Road

This shop can be described as a "dessert myth" in Japan! According to incomplete statistics, his family’s signboard is sold every 10 seconds on average in the world! The signature double cheesecake is the originator of double cheesecake and has an unshakable hegemony in the hearts of foodies.

Address: Lane 181, Taicang Road, Shanghai

Opening hours: all day

Fare: None.

Transportation: Xintiandi Station of Rail Transit Line 10

-Chenghuang Temple-

Chenghuang Temple is one of the famous tourist attractions in Shanghai. The pavilions and pavilions in the old city, Qingshiban Road, Jiuqu Bridge, Nanxiang Steamed Bun Shop, and our restaurant, the Green Wave Gallery, are the deepest memories in the hearts of tourists. In addition to Yu Garden, Jiuqu Bridge, Huxin Pavilion and other must-see attractions, Chenghuang Temple must definitely try the delicious snacks here.

Mushroom vegetable bag

Spring breeze Songyuelou Chenghuangmiao Old School Road Bailing Road intersection

The vegetarian food package in Songyuelou is very popular. If you bite it, the fragrance of green vegetables and mushrooms will come to your nose ~

Osmanthus cake

Spring breeze Songyuelou Chenghuangmiao Old School Road Bailing Road intersection

Sweet and soft osmanthus cake, in addition to the faint taste of osmanthus, also has a faint smell of wine, as always delicious. The Green Wave Gallery is an old name of the Chenghuang Temple, and many people also come here.

Begonia cake

No.10 Wenchang Road, Hefenglou

As a traditional dessert and pastry snack in Shanghai, the method of Begonia Cake is very simple ~ sweet bean paste is filled with soft flour, and some winter melon candy is wrapped in the outer layer, and sesame seeds, pine nuts and melon seeds are scattered on the surface. When it is almost out of the oven, sprinkle with sugar and bake it again. Before taking it out, the smell of Begonia Cake has spread, which is a very warm snack.

Nanxiang Steamed

2/F, No.69, Jiujiaochang Road

How can you come to the Chenghuang Temple without eating Nanxiang steamed buns? The stuffing of Nanxiang steamed buns can also change with the seasons. Add shrimps in early summer and crab meat, crab roe and crab oil in autumn.

Ningbo Tangtuan

Ningbo Tangtuan Branch No.110 Yuyuan Road

Soft glutinous dumplings are served after careful cooking. They are round and moist and look super cute. The black sesame stuffing is sweet but not greasy!

Address: Fangbang Middle Road, Shanghai

Opening hours: 08:00-21:00

Ticket price: free of charge

Transportation: Exit 3 of Yuyuan Station of Rail Transit Line 10.

-Nanjing Road Pedestrian Street-

Nanjing Road Pedestrian Street is the earliest commercial street established after the opening of Shanghai. In 1999, Nanjing Road Pedestrian Street was officially opened after renovation, enjoying the reputation of "the first commercial street in China". The high-profile Dongtuo section of Nanjing Road Pedestrian Street also officially lights up to "open the street". The Dongtuo section starts from Henan Middle Road in the west and Zhongshan Dongyi Road in the east, with a total length of 495 meters, connecting the People’s Square business circle and the Bund business circle. As a result, citizens can go directly to the Bund through Nanjing Road Pedestrian Street.

Visitors will pass through popular landmarks such as New World City, Shanghai Shimao Plaza, New World Maruko Department Store, Nanjing Building and Peace Hotel along the way.

Nowadays, several key projects in Dongtuo block of Nanjing Road Pedestrian Street will appear one after another, with old shops upgraded and rejuvenated, and the first and trendy shops settled, which has become a new landscape of Shanghai’s business.

New World Daiwan Department Store

In addition to a number of first-time stores and trendy stores, the face of many old brands in Nanjing Road Pedestrian Street is also quite eye-catching. Taikang Food, which has a history of one hundred years, took the lead in opening a new concept optimization shop in the pedestrian street, and introduced a series of online celebrity snacks, including Liangpin Shop, Qifen Sweet, Liaoji Bang Bang Chicken, White Rabbit and Zhong Xue Gao, which injected new vitality into the neighborhood.

Address: Nanjing East Road, Shanghai

Opening hours: all day

Transportation: Nanjing East Road Station of Rail Transit Line 10.

Source: network comprehensive information

Editor: Zhang Yifan, Gao Qin

The copyright of the pictures in this article belongs to the original author.

ShangguanNo. Author: Shanghai Changning


Gome notified and punished employees who "fished" at work, and announced videos, music-listening apps and traffic.

"Source of this article: Jiupai News"
On November 16th, a "Notice on Punishment for Violation of Employees’ Code of Conduct" issued by Gome triggered a heated discussion on the Internet, and it was posted on Weibo Hot Search on the same day.
According to the Southern Metropolis Daily, Gome’s response is true at this time.
On November 17th, the topic was ranked first on the Zhihu Hot List, which once again triggered a hot discussion among netizens.
According to the report of national business daily, according to the data, from August 30th to September 3rd, 2021, Gome notified and punished employees who watched videos, listened to music and brushed news during working hours.
The bulletin lists the things that employees in various regions are engaged in in in the office area that have nothing to do with their work, such as computer games, chatting online, listening to music and so on.
This penalty book contains the departments and names of employees, and even the non-work traffic in the background. The situation shows that most employees spend the most time "fishing" on Tencent Video and Tik Tok. The most conspicuous one is the employees of the Planning Audit and Asset Safety Center, who listened to 22.5 G’s on Netease Cloud Music, which is more than the traffic of watching videos on other floors.
According to the relevant provisions in the Code of Conduct for Employees and Management Standards for Office Places, the document stated that 10 non-outsourced employees were given a warning and 2 administrative penalties; For outsourced personnel, clear the field and do not outsource the site for the second time.
Reviews from netizens
Most netizens believe that it is difficult for normal people to achieve long-term high-intensity concentration, and it is normal to relax and adjust appropriately.
"Normal humans will be distracted and absent-minded when they do something. You can’t ask employees not to be people. "
"It is not a false demand to touch the fish at work. Even if it is the screw of the assembly line, it can’t produce high-intensity and uninterrupted work."
"Employees use company equipment to engage in non-work entertainment during working hours, which is definitely a violation of the relevant provisions of the company’s employee manual. The way the company publicly exposes names and traffic violates the procedures of personal information collection, processing and publicity. The handling method of this big-character poster is actually to hit the face of Gome managers. "
Some netizens also believe that fishing at work is a mistake, and it is correct for enterprises to punish according to rules and regulations.
"When did fishing at work become justified?"
"Enterprises hire people to create profits. It is normal to go to work and fish in violation of rules and regulations."
[Source: Jiupai News Synthesis]
Copyright belongs to the original author, paying tribute to originality.

How did the United States hurt the world by raising interest rates ten times?

  A few days ago, the Federal Reserve made its 10th decision to raise interest rates in the past 14 months, which once again triggered market shocks. Continued interest rate hikes have not only brought the United States closer and closer to the economic recession, but also caused the whole world to take the blame for the United States.

  Europe, which is the most tightly bound by American strategy, took the lead in responding, followed by the United States to raise interest rates passively for the seventh time since July last year.

How did the United States hurt the world by raising interest rates ten times?

  △ Yahoo News reported that the European Central Bank held a monetary policy meeting on May 4 and decided to raise the three key interest rates in the euro zone by 25 basis points. The main refinancing rate, marginal lending rate and deposit mechanism rate were raised to 3.75%, 4.00% and 3.25% respectively from the 10th of this month.

  However, the analysis believes that the monetary tightening policy has led to the continued weakness of the euro zone economy, and the European Central Bank will still be in a dilemma between curbing inflation and seeking economic growth.

How did the United States hurt the world by raising interest rates ten times?

  △ US Consumer News and Business Channel website reports: According to Eurostat data, in the first quarter of this year, the GDP of the euro zone only increased by 0.1%, which was less than expected, and the German economy stagnated.

  This dilemma is certainly not limited to Europe.

  Due to the hegemony of the US dollar, the Fed’s aggressive interest rate hike this round made the yield of US bonds rise and the US dollar strengthened rapidly. Its spillover effect induced large-scale capital to flow to the United States, which made the stock markets, foreign exchange markets and bond markets of many countries suffer violent impacts, forcing these countries to follow the interest rate hike in order to maintain macroeconomic stability, thus increasing their own economic recession risks.

How did the United States hurt the world by raising interest rates ten times?

  △ Most central banks in the world are raising interest rates at a synchronous rate that has not been seen in the past 50 years (screenshot of the US "Investment Encyclopedia" website report)

  "Fed’s interest rate hike will aggravate the global debt crisis"

  According to the analysis of experts from the World Bank, in the past year or so, the rise of interest rates in the United States was mainly driven by the "reaction shock" triggered by investors’ expectation of the Fed’s shift to a tougher monetary policy stance.

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of World Bank official blog report

  The rise in US interest rates driven by "reaction shock" is particularly harmful to the financial markets of emerging markets and developing economies. Facts have proved that the sharp rise in interest rates in the United States and the corresponding rise in the foreign exchange value of the US dollar have had a significant spillover effect on the borrowing costs of emerging markets and developing economies. The debt levels of many emerging markets and developing economies have generally soared, and the debts of many governments have reached record highs. Some countries have fallen into financial difficulties and even defaulted on their debts.

How did the United States hurt the world by raising interest rates ten times?

  △ The report "Debt Relief for Green and Inclusive Recovery (DRGR)" jointly released by the Center for Global Development Policy Research of Boston University, the Center for Sustainable Finance of the School of Asian and African Studies of London University and the Heinrich Burr Foundation in April shows that during 2008-2021, the sovereign debt of emerging markets and developing economies increased by 178%, from $1.4 trillion to $3.9 trillion.

  The US Consumer News and Business Channel also warned that the Fed’s interest rate hike will aggravate the global debt crisis. Debt payments in developing countries increased by 120% from 2010 to 2021, reaching the highest level since 2001. The average proportion of government revenue used to pay foreign debts increased from 6.8% in 2010 to 14.3% in 2021.

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of US Consumer News and Business Channel website report

  Georgieva, managing director of the International Monetary Fund, warned that the Fed’s interest rate hike may "throw cold water" on the already weak recovery of some countries. The rising interest rate in the United States and the appreciation of the dollar may make it more expensive for countries to repay their debts denominated in dollars.

  By the end of 2022, the total debt of developing countries rose to a record $98 trillion.

How did the United States hurt the world by raising interest rates ten times?

  △ World Bank reports in official website: Rising interest rates and slowing global growth are likely to plunge a large number of countries into debt crisis. Debt servicing has brought the greatest pressure to poor countries since 2000.

  "Casino capitalism" is accelerating the flight of many countries from the US dollar.

  The history of dollar hegemony is the history of the United States arbitrarily harvesting world wealth.

  The Australian "East Asia Forum" website once published an article pointing out that in the 1970s and early 1980s, the Federal Reserve led by Paul Volcker reduced the inflation rate in the United States by raising interest rates aggressively, but pushed up the global interest rate, causing many emerging economies to default on their debts. The debt crisis after the Volcker shock made developing countries feel sad. The Fed’s interest rate hike has had a devastating impact on Latin America. The gross domestic product (GDP) in this area plummeted, and the unemployment rate and poverty rate rose sharply. There are similar experiences in debt-ridden countries in Africa. The Fed has not paid enough attention to how its wayward policy choices will affect the rest of the world.

How did the United States hurt the world by raising interest rates ten times?

  △ Australia’s "East Asia Forum" website report screenshot

  This is true. How can the Fed, which holds the hegemony of the US dollar, care about other places? !

  Eduardo Porter, an information columnist of Bloomberg, recently questioned: "Can the Fed led by Powell afford to ignore geopolitics?"

  The article points out that today, the Fed once again faces the high inflation in the Volcker era. As it is raising interest rates at the fastest rate in more than 40 years, "the original memory of people’s disillusionment with economic prosperity is resurfacing throughout Latin America and the wider developing countries."

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of Eduardo Porter’s commentary reprinted on the Washington Post website.

  In connection with the direct and indirect damage caused by the United States’ indiscriminate unilateral sanctions against other countries by using the hegemony of the US dollar for many years, the international community generally believes that the economic and financial policies of the United States have become the biggest challenge to global financial stability, economic recovery and common development.

  Faced with the harm of dollar hegemony to the world economy, more and more economies have begun to take practical actions to safeguard their rights and interests. Many countries, including some American allies, have actively explored the path of "dollarization" by reducing US debt, promoting bilateral monetary agreements and diversifying foreign exchange reserve assets. In addition, central banks are still buying gold at the fastest rate since 1967.

How did the United States hurt the world by raising interest rates ten times?

  △ Reuters reports: In 2022, central banks bought a record 1,136 tons of gold, and in 2023, the trend of global central banks’ gold purchase continued.

  With the acceleration of the global "dollarization" process, the control of the US dollar as the world’s reserve currency on the international economic system is weakening. The data shows that in the past 20 years, the share of the US dollar in the international reserves of global central banks has dropped by 12 percentage points, from 71% to 58.36% in 2022, which is the lowest level since the data was recorded in 1995.

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of Turkish Radio and Television Corporation (TRT) website report

  Peter Earle, an economist at the American Economic Research Institute, recently pointed out in his article "De-dollarization has begun" that the US dollar has gradually changed from an ordinary carrier of payment, settlement and investment to a financial tool used by the US government to implement unilateral sanctions. Especially after the escalation of the Ukrainian crisis last year, the US wantonly weaponized the US dollar, which accelerated the flight of many countries. "In the long run, ‘ De-dollarization ’ Will continue, and the dollar will lose power overseas sooner or later. "

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of the article on the website of the American Economic Research Institute

  Pepe Escobar, a Brazilian geopolitical analyst and senior journalist, called American monetary policy "casino capitalism" in an interview with the media. He pointed out that after weighing the pros and cons, more and more countries found that the US dollar was not safe. The aggressive U.S. sanctions policy and reckless government spending have significantly reduced the international appeal of the dollar. The upcoming BRICS summit in South Africa may be the key to progress in dollarization. The dollar-centered world order is doomed to end.

How did the United States hurt the world by raising interest rates ten times?

  △ Sputnik news agency & radio report screenshot

  Source: Global Information Broadcasting "Global Deep Observation"

  Planning Wang Jian

  Reporter Shan Lijuan

  Editor Yang Nan

  Qian Shen Zou Haoyu

  Producer: Jiang Aimin


Japanese beauty cosmetics China is cold: affected by the discharge of nuclear sewage into the sea, high-end market giants compete for key points

Japanese beauty brands are facing a new crisis in China market.

In the past Double Eleven, Japanese beauty brands collectively "disappeared" in the TOP10 sales list. According to the research report of Guojin Securities, the top ten brands sold by Amoy beauty shops during this year’s Double Eleven period were Polaiya, L ‘Oreal, Lancome, Estee Lauder, Winona, Mystery of Sea Blue, Olay, Xiuliko, helena rubinstein and Guerlain, and none of them were Japanese makeup brands. According to media observation, this is the first time that the Japanese makeup brand SK-Il has fallen out of the top ten since 2016, and it is also the first time that Shiseido, a Japanese makeup brand, has been out of the list since it entered the top ten in 2017. Both of them have occupied the list for many years.

Bai Wen Xi, chief economist of IPG China, told 21st century business herald that the impact of Japanese nuclear sewage discharge on Japanese cosmetics was an important factor, which led to the continuous fermentation of consumers’ resistance to Japanese cosmetics. In addition, domestic beauty brands performed strongly during the Double Eleven period. For example, brands such as Polaiya occupied the leading position in the beauty category for the first time, which may be another factor affecting the sales of Japanese makeup brands.

At present, the days of Japanese beauty brands are not easy. Take Shiseido, a well-known Japanese cosmetics brand, as an example. Last week, Shiseido lowered its annual profit forecast, and then its share price fell sharply. On November 13th, the share price of Shiseido in Japan once fell by 14%, the biggest drop in 36 years. As of 9: 00 am on November 20th, Shiseido’s share price rebounded to 4,329 yen, and its share price has fallen by 40.07% since the beginning of the year. Shiseido said that the demand from consumers in China slowed down due to the Japanese nuclear sewage discharged into the sea, and the sales in China decreased by about 10% in the third quarter. The company believes that the impact of nuclear sewage discharge will last until the first quarter of 2024. As of the first half of this year, the China market was Shiseido’s largest market.

Shiseido’s situation is just a microcosm of the cold reception of Japanese beauty brands. Judging from the performance of the third quarterly report this year, the performance of Japanese cosmetics on behalf of enterprises is lacking. In contrast, domestic cosmetics brands gradually occupy the mainstream in China market.

Why do Japanese cosmetics brands gradually regress in China market? At present, Kose Group and other Japanese cosmetics brands are still overweight the China market. What are the future development prospects?

Japanese beauty cosmetics encounter waterloo in China

For many Japanese beauty brands, this year’s Double Eleven may be a stress test. But obviously, the result is not satisfactory.

Judging from the achievements of the Double Eleven, Japanese beauty cosmetics not only failed to rank among the top ten beauty shops in Amoy Department, but also lost the list of the top ten brands of GMV in the category of double eleven beauty and skin care in Tik Tok this year. Poor performance in China market has directly affected the performance of many Japanese beauty companies.

Japan’s Shiseido Group released its financial report for the first three quarters of 2023. The financial report shows that its net sales decreased by 5.3% year-on-year to 722.4 billion yen (about RMB 34.752 billion), and its core operating profit decreased by 53% to 8.8 billion yen. Among them, Shiseido’s sales in China decreased by 9% this quarter, which directly offset the growth in the first half of the year. In the same period, China market also retreated to Shiseido’s second largest market. The same situation also appeared in Kao, Polaroid, Kose and other Japanese cosmetics companies.

Kao Group, the parent company of Kerun and Fulifang Silk, released its third-quarter financial report. The company’s net sales decreased by 0.2% year-on-year to 1.13 trillion yen, and its net profit decreased by 44.2% year-on-year. In the third quarter, which was most affected by the nuclear sewage incident, sales fell by 1.6% to 387.4 billion yen. Kao said in the financial report that the group’s cosmetics business lost 1.6 billion yen mainly due to the sharp decline in sales in China. Coincidentally, POLA Polaroid Group also named in its third-quarter financial report that it had to slow down its store expansion plan in China due to the impact of Japanese nuclear sewage discharge into the sea.

Since August this year, due to the nuclear sewage discharge incident, the sales of Japanese cosmetics in China and South Korea have been greatly hindered, which can be described as the "black swan" incident of Japanese cosmetics.

Chen Li, a researcher at Anbang think tank, told 21st century business herald that Japanese cosmetics suffered a brand crisis after the Fukushima Daiichi nuclear power plant announced that it would discharge sewage. Consumers in China thought that Japanese chemical products would be affected by nuclear sewage, labeled them as "unsafe" and turned to other substitutes. Whether the quality of Japanese cosmetics will be affected by this incident or not, the action of discharging nuclear sewage has caused negative feelings of China consumers about "Made in Japan", which is a big blow to the Japanese beauty industry.

In addition, Chen Li also believes that Japanese beauty products are cold in China, largely because consumers are increasingly inclined to choose domestic brands.

Since the news that Japan’s nuclear sewage was discharged into the sea came out, online discussions about the safety of Japanese cosmetics have come and gone, which directly affected the export of Japanese cosmetics. According to the data of the General Administration of Customs, since May this year, China’s cosmetics imported from Japan began to show a significant decline. Among them, the import value in June decreased by 8.4% year-on-year; In July, the import value dropped by 30% year-on-year.

Chen Li said that from the product point of view, although Japanese cosmetics brands have always paid attention to R&D, in recent years, domestic brands have also made major breakthroughs in product R&D, which is more cost-effective, more in line with the habits of consumers in China, and has reduced the attractiveness of Japanese cosmetics to the China market to some extent. From the brand point of view, the international influence of Japanese cosmetics is not as good as that of European and American brands. Domestic brands are also expanding their influence with the trend of "cultural self-confidence" and "national rejuvenation", so the brand power of Japanese cosmetics is squeezed.

According to the report of the Capital Securities Industry, China Customs data show that China’s cosmetics imports mainly come from Japan, South Korea, France, Britain, the United States and other places. From 2015 to 2022, China’s total cosmetics imports from Japan increased from US$ 488 million to US$ 4.987 billion, an increase of over 10 times. However, since the beginning of this year, the total amount of imported cosmetics in China has shown a downward trend. The total amount of imported cosmetics from Japan has continued to decline since March, and the total amount of imported cosmetics from Japan in the first quarter fell by 11.73% year-on-year.

Domestic head brands accelerate to occupy the market.

At present, the domestic cosmetics market has ushered in a new round of reshuffle. The most striking difference is that the phenomenon that foreign cosmetic brands dominate the China market is gone forever.

According to Huajing Industrial Research Institute, the market share of China cosmetics market in 2021 will be 28.8%, 16.2%, 30.1%, 8.3% and 4.3% for China, French, Korean and Japanese brands respectively. At a time when many Japanese cosmetics brands are in decline, the rise of domestic brands has become a bright color. According to the data of beauty industry media, in this year’s Double Eleven list, domestic brand Polaiya won the first place in the list of Tmall and Tik Tok double 11 skin care brands. Among them, in the list of Tmall double 11 skin care brands, Polaiya beat L ‘Oreal with a GMV of 2.219 billion yuan.

Chen Li said, "China’s economy continues to recover, consumers are more rational, pay more attention to the cost performance of products, and pursue products with favorable prices while ensuring quality." In addition, Chen Li believes that consumers show enthusiastic concern about the ingredients of products and whether the ingredients of products are safe or not, while domestic cosmeceutical brands start with "biological ingredients and" herbal raw materials "and achieve a sudden emergence, further squeezing the Japanese cosmeceutical market.

Bai Wenxi also holds a similar view. He told reporters that the reasons for the rise of domestic brands may include the improvement of product quality and the effective marketing strategy.

Some analysts believe that in recent years, domestic skin care brands have paid more attention to the concepts of mild conditioning, natural no addition and no stimulation. Take Polaiya, a domestic brand, as an example. In order to meet the demand of whitening, it relies on the concept of "early C and late A" to force L ‘Oré al, Lancome, Estee Lauder and other big brands in sales. In this regard, Bai Wenxi believes that for beauty products, the focus of consumers’ attention now may include the quality, effect and safety of products, as well as the influence and reputation of brands. In this respect, the performance of Japanese beauty cosmetics lags behind other brands, because the popularity and recognition of its products in China market are relatively low, and its marketing strategy and product positioning may not meet the needs and preferences of China consumers. Chen Li also believes that Japan may not be as agile as domestic brands in capturing and responding to China’s hot trends.

In order to seize the China market, Japanese beauty cosmetics bet on high-end beauty consumption. Take Shiseido as an example. In 2021, Shiseido sold popular brands such as Secret Language of Water and Sibeiqi, and put more resources on high-end brands such as Shiseido, CPB and THE GINZA. At the same time, Shiseido focuses on the China market and increases investment in market production and R&D.. Recently, Shiseido also launched a small program of "Watching the United States and Japan", and cooperated with jnto, Hoshino Group, Japan Airlines and other institutions and companies to introduce Japanese tourism and cultural consultation and promote Japanese tourists’ consumption in.

Chen Li said that Shiseido should concentrate on its core business by reorganizing its business resources and reducing its mass brands. In the case of economic recovery, enterprises will give priority to reducing costs and increasing efficiency. This move is in line with the global beauty market as a whole to the "high-end" direction, and is also in line with the strategic layout direction of Japanese cosmetics brands such as Shiseido in China.

However, some analysts believe that the cold consumption of high-end beauty cosmetics in the past two years has become another factor affecting the performance of Japanese makeup brands. According to the data of Tencent Marketing Insight (TMI) and Boston Consulting Group (BCG), the domestic high-end beauty market has maintained a high growth rate of 20% in the past few years, and the growth rate reached 41.8% in 2021, but there was a slight correction of 2% in 2022.

Nevertheless, the interviewed experts still believe that the fast-growing high-end product track is the key strategy for Japanese beauty brands to increase their market share in China. However, in this field, Japanese makeup brands also encounter great challenges. In March this year, the Japanese cosmetics group POLA announced that it would shut down high-end brands Amplitude and ITRIM, and Shuizhiao H2O Company will also complete liquidation this year. This year, POLA Group will cut off three brands.

According to Euromonitor’s data, since 2017, the sales of high-end beauty cosmetics in the China market have maintained an average annual growth rate of more than 23%, and it is expected that it will completely surpass popular beauty cosmetics by 2025. This means that the competition for high-end market will become the "general battlefield" of the next head beauty enterprises, and it is also the key for enterprises to win the market initiative and voice in the next 10 years.

How can Japanese cosmetics, which have been overtaken step by step, regain the China market? Chen Li believes that "if Japanese beauty companies want to continue to pay attention to the China market, they should pay attention to the competition in the high-end product track, keep up with the demand of the consumer market in China, and create’ efficacy first’ big items according to the skin quality, aesthetics and psychological portraits of China consumers, and constantly expand the matrix of big items."

(21st century business herald)