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State Council: Accelerate the resumption of international flights in key aviation hubs such as Beijing, Guangzhou and Shanghai.

According to the Chinese government website, a few days ago, the General Office of the State Council issued the "Action Plan for Firmly Promoting High-level Opening-up and Attracting and Utilizing Foreign Capital", which proposed to facilitate the exchange of international business people. It is convenient for foreign businessmen to apply for visas to China. For managers and technicians of foreign-invested enterprises and their accompanying spouses and minor children, the validity period of visas is relaxed to two years. Accelerate the recovery of the number of international flights in key aviation hubs such as Beijing, Shanghai and Guangzhou.

A quick glance at the main points

● Reasonably reduce the negative list of foreign investment access. Completely cancel the restrictions on foreign investment access in the manufacturing sector.

● Piloting the relaxation of foreign investment access in the field of scientific and technological innovation.

● For eligible reinvested enterprise projects, imported self-use equipment shall be exempted from customs duties.

● Support qualified foreign-invested enterprises to issue RMB bonds for financing in China.

● Ensure the reasonable energy demand of foreign-funded projects without discrimination.

● Expand the industrial catalogue and list of foreign-funded projects to encourage foreign investment.

● Facilitate the introduction of foreign talents to work, stop living and stay permanently in China.

expand market access

Reasonably reduce the negative list of foreign investment access

We will improve the national treatment plus negative list management system before foreign investment access, completely abolish the restrictions on foreign investment access in the manufacturing sector, and continue to promote the expansion and opening up of telecommunications, medical care and other fields.

Piloting the relaxation of foreign investment access in the field of scientific and technological innovation

● Beijing, Shanghai, Guangdong and other free trade pilot zones are allowed to select a number of qualified foreign-invested enterprises to conduct pilot projects in the development and application of gene diagnosis and treatment technologies.

● Support the opening-up measures in areas such as information services (limited to application stores) to achieve better results in the free trade pilot zone.

Expand the access of foreign financial institutions in the field of banking and insurance.

● Under the premise of ensuring safety, efficiency and stability, support qualified foreign-funded institutions to carry out bank card clearing business according to law.

● Deepen the opening of commercial pension insurance, health insurance and other industries, and support qualified overseas professional insurance institutions to invest and set up or participate in insurance institutions in China.

Expand the business scope of foreign financial institutions participating in the domestic bond market.

● Optimize relevant procedures for foreign financial institutions to participate in the domestic capital market, and further facilitate foreign financial institutions to participate in the China bond market.

● Support qualified foreign-funded financial institutions to participate in domestic bond underwriting as required.

● Study and steadily promote more qualified foreign banks to participate in the pilot trading of treasury bonds futures.

In-depth implementation of the domestic investment pilot of qualified overseas limited partners

● Expand the pilot scope of qualified overseas limited partners, standardize the requirements of qualified overseas limited partners to manage enterprises and funds in terms of registered capital and shareholders, and broaden the scope that funds can invest.

● Improve the management measures for private equity fund services, encourage foreign investors to set up private equity funds and carry out various investment activities according to law.

Strengthen the policy.

Expand the catalogue of industries and the list of foreign-funded projects that encourage foreign investment.

● The catalogue of industries in which foreign investment is encouraged throughout the country will increase its support for advanced manufacturing, high-tech, energy conservation and environmental protection, and the catalogue of industries with foreign investment advantages in the central and western regions will increase its support for basic manufacturing, applicable technologies and people’s livelihood consumption.

● Actively support foreign-funded projects in the fields of integrated circuits, biomedicine and high-end equipment to be included in the list of major and key foreign-funded projects, and allow them to enjoy corresponding support policies.

Implement tax support policies

● Foreign-invested enterprises can enjoy the tariff exemption policy for imported equipment for their own use if the projects invested by reinvested enterprises in China meet the requirements of encouraging foreign investment industries.

● Implement relevant preferential tax policies for foreign investors to invest in financial markets such as China bond market.

Increase financial support.

● Encourage financial institutions to provide high-quality financial services and financing support for qualified foreign-funded projects in accordance with the principle of marketization.

● Support qualified foreign-invested enterprises to issue RMB bonds for financing in China and use them for domestic investment projects.

● Promote the implementation of foreign exchange management facilitation policies for cross-border trade and investment, and continuously improve the convenience of foreign exchange business of foreign-invested enterprises.

Strengthen energy use guarantee

● Improve the regulation of total energy consumption and intensity, focus on controlling fossil energy consumption, implement policies such as excluding raw material energy consumption and non-fossil energy consumption from total energy consumption and intensity control, and ensure the reasonable energy demand of foreign-funded projects without discrimination.

● Accelerate the promotion of green certificate transactions and inter-provincial green electricity transactions to better meet the green electricity demand of foreign-invested enterprises.

Support the central, western and northeastern regions to undertake industrial transfer.

● Encourage the central, western and northeastern regions to give full play to local comparative advantages, and formulate policies and measures to reduce the costs of land, energy, labor and logistics for manufacturing enterprises according to local conditions.

● Plan and integrate key development zones in the central, western and northeastern regions, carry out industrial transfer cooperation with foreign investment in pairs with the eastern region, and establish and improve the mechanism and implementation rules for project promotion, cadre exchange and revenue sharing.

Optimize the level playing field

Clean up acts and policies and measures that violate fair competition

● Deal with the discriminatory behaviors of foreign-invested enterprises in government procurement, bidding, qualification licensing, standard setting and subsidies reflected by business entities in a timely manner, and notify the responsible entities and make rectification within a time limit.

● Accelerate the formulation and promulgation of standards for government procurement of domestic products, and treat products that meet the standards produced by domestic and foreign-funded enterprises equally and equally in government procurement activities. Comprehensively clean up policies and measures that hinder unified market and fair competition.

Improve the bidding system

● Accelerate the revision of the bidding law.

● Organize special treatment of outstanding problems in the field of bidding and tendering, focus on correcting problems that are strongly reflected by a number of business entities, and break unreasonable restrictions that restrict enterprises of all ownership to participate in bidding and tendering on an equal footing.

● Formulate fair competition review rules in the field of bidding, strengthen the rigid constraints of fair competition review, and avoid issuing policy documents that exclude and restrict fair competition.

Fair participation in standard formulation and revision

● Support foreign-invested enterprises to participate in advanced manufacturing, engineering materials, information and communication standardization technical committees or related standardization organizations under the same conditions, and participate in the formulation and revision of standards on an equal footing according to law.

● Publicize national standard information in a timely manner to improve the transparency and openness of standardization work.

Improve the scientific level of administrative law enforcement

Strictly implement the publicity system of administrative law enforcement, strictly implement the list of administrative inspection items, resolutely avoid repeated inspections, promptly correct irregular administrative law enforcement behaviors, and gradually implement off-site supervision characterized by remote supervision, early warning and prevention.

Continue to build the brand of "Investing in China"

● Relying on important exhibition platforms, we will carry out key investment promotion activities of "Investing in China" to show overseas investors China’s high-quality business environment and investment opportunities in all directions.

● Establish and improve the working mechanism, give full play to the role of foreign embassies and consulates as business organizations, support the combination of "going out" and "please come in" in local areas, and carry out investment promotion in a normal way.

● Organize international industrial investment cooperation and docking activities to promote more project negotiation and signing.

Strengthen the service of foreign-invested enterprises

● Make good use of platforms such as round tables of foreign-funded enterprises, deepen normalized exchanges with foreign-funded enterprises, foreign chambers of commerce associations and international organizations, respond to the concerns of all parties in a timely manner, and provide targeted service guarantees.

● Improve the inter-departmental coordination mechanism for complaints of foreign-invested enterprises at all levels, improve the direct contact system of foreign-invested enterprises, smooth communication channels, and timely understand and promote the resolution of problems and reasonable demands reflected by foreign-invested enterprises.

● Implement the information reporting system for foreign investment and continuously promote departmental data sharing. Foreign-invested enterprises shall not be required to submit the information that can be obtained through departmental information sharing.

Smooth the flow of innovation factors

Support foreign-invested enterprises and headquarters data flow

● Standardize data cross-border security management, organize data exit security assessment, standardize personal information exit standard contract filing and other related work, and promote the safe and orderly cross-border flow of data such as R&D, production and sales of foreign-invested enterprises.

● Formulate standards for cross-border data transfer in Guangdong-Hong Kong-Macao Greater Bay Area, establish a cross-border data flow mechanism for enterprises in Hong Kong and Macao based on major cooperation platforms such as Hengqin Guangdong-Macao Deep Cooperation Zone and Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, explore the establishment of a "white list" system for cross-border data flow, and steadily promote the convenient data flow in Guangdong-Hong Kong-Macao Greater Bay Area.

Facilitate the exchange of international business personnel

● It is convenient for foreign businessmen to apply for visas to China. For managers and technicians of foreign-invested enterprises, their accompanying spouses and minor children, the validity period of visas is relaxed to two years.

● Accelerate the recovery of the number of international flights in key aviation hubs such as Beijing, Shanghai and Guangzhou.

Optimize the management of foreigners’ work and residence permits in China.

● Optimize the procedures for foreigners’ work permits and work-related residence permits in China, and adopt the method of "one-stop acceptance and parallel approval" to form a faster and more efficient approval mechanism.

● Strengthen departmental coordination to facilitate the introduction of foreign talents to work, stop residence and stay permanently in China.

Support domestic and foreign institutions to cooperate and innovate.

We will further implement the international scientific and technological cooperation plan under the new situation, and support foreign-invested enterprises, foreign-funded R&D institutions and multinational companies established in China to participate in national key R&D plans, major national science and technology projects and other national science and technology projects on an equal footing.

Improve domestic regulations

Strengthen the protection of intellectual property rights

● Dock international high-standard intellectual property rules, improve intellectual property protection regulations, speed up the construction of a national intellectual property protection information platform, strengthen the construction of a trade secret protection system, and thoroughly implement the work plan for administrative protection of intellectual property rights.

● Focus on key areas and key links, and increase the protection of intellectual property rights of foreign-invested enterprises.

● Intensify the investigation and punishment of IPR infringement cases, and resolutely crack down on and punish IPR infringement of foreign-invested enterprises.

Improve the rules of cross-border data flow.

● Scientifically define the scope of important data.

● Fully and deeply participate in the e-commerce negotiations of the World Trade Organization, and accelerate the construction of global digital trade rules.

● Explore the pilot project of cross-border data flow with the members of the Digital Economy Partnership Agreement, accelerate the establishment of cooperation mechanisms for cross-border data flow with major economic and trade partner countries and regions, and promote the construction of a multi-level global digital partnership network.

Actively promote the negotiation and implementation of high-standard economic and trade agreements

● Actively promote China’s accession to the Comprehensive and Progressive Trans-Pacific Partnership Agreement and the Digital Economy Partnership Agreement, take the initiative to promote domestic reforms in related fields in accordance with relevant rules, regulations, management and standards, and promote the inclusion of some high-standard economic and trade rules in the arrangement of establishing closer economic and trade relations between the mainland and Hong Kong and Macao.

● Promote the negotiation and signing of free trade agreements with more countries and regions, and expand the global network of high-standard free trade zones.

Intensify the pilot project of docking international high-standard economic and trade rules

● Give full play to the leading role of the national service industry in expanding and opening up the comprehensive demonstration zone, accurately meet the needs of industrial development, take the lead in building an open service system that is in line with international high-standard economic and trade rules, and timely connect with the comprehensive pilot zone for expanding and opening up the service industry.

● Support the conditional free trade pilot zone and Hainan Free Trade Port to base themselves on the national conditions, connect with international high-standard economic and trade rules, and take the lead in exploring and implementing the results of negotiations in the fields of domestic regulation of service trade, investment facilitation and digital trade of the World Trade Organization. Continue to slide to see the next touch to read the original text.

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Original title: "State Council: Promoting the Accelerated Resumption of International Flights in Key Aviation Hub such as Beijing, Guangzhou and Shanghai"

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Family education

It is good that children born in the forties and fifties can live, that children in the sixties and seventies can eat and wear warm clothes, and that children in the eighties and nineties can go to school. Now, if you just stay in the previous concept of parenting, it is a bit out. About reading, the most terrible thing is that teachers who don’t study are teaching hard and parents who don’t study ask their children to read good books, which is like driving without a license in spirit.

Then, when preparing to become parents, we should study our children hard. What problems should we pay attention to in the process of getting along with our children?

First, children have no concept of time. What we have to do is to teach children patience with enough patience.

Once I had dinner at my parents’ house, I happened to meet my sister-in-law’s family. Two children were arguing about watching TV. My sister in elementary school thought of a way and agreed with her brother: "Brother, you watch an episode, and I watch an episode. An episode is 20 minutes, okay?" At that time, my brother promised to be frank and said, "OK!" However, 20 minutes passed and an episode was finished. My brother said, "I haven’t finished watching it yet, so I won’t give it." My sister muttered, and my mouth was very unhappy. I thought my brother didn’t keep his word and couldn’t beat him, so I had to compromise and say, "It’s time to show you an episode at most, so I’m going to watch it." The younger brother replied unconcerned, "Hmm!" Later, as everyone expected, even when the time came, he still didn’t fulfill his promise. The frustrated sister couldn’t bear her brother who didn’t keep his word, so she grabbed the remote control with her brother and started watching her own program. Unexpectedly, her brother didn’t let it go, and they were once caught in a "war" …

If parents don’t understand the development of their children, they must think that this younger brother is importunate and will be given a lecture when he comes up, or parents who are partial to the boy directly blame his sister for not being tolerant. In fact, for an eager child, he thinks that 20 minutes and 20 minutes of adults are not a unit at all, and his 20 minutes may be eternity. So it’s not entirely my brother’s cheating, he just has no concept of time.

Then what we have to do is patiently help him to establish the concept of time. We can adjust the alarm clock and use the hourglass to stop when the time comes, so that he can know how long 20 minutes is after repeated perception.

Second, don’t label children who are exploring development as "bad behavior".

"Baby, don’t touch the hot kettle, be careful to burn your hands." "Baby, don’t touch the vase, it’s easy to break." … Do you often tell your baby this, but it’s not as good as you want? And the more you don’t let him do it, the more he wants to try it. When you’re not paying attention, he may have got into the kitchen locker and grabbed white rice and spilled it all over the floor. Things like this are telling you: he is thinking of a thousand ways to drive you crazy, but is this his real intention?

No, he just acts according to his age. He wants to know what it feels like to have a hot kettle. He wants to know what the sound of broken vases is. It turns out that the white rice in the kitchen feels like this. This is his process of actively exploring the world and seeking development. Not only can we not stop him. Also try to provide him with safe conditions, such as eggs, water, mud …

Third, children need security, love and a sense of belonging.

Undoubtedly, safety is the first thing we should ensure as parents or caregivers. Secondly, talk, interact, play and play games with your child, give feedback to any reaction of your child at any time, accompany your child with leisurely high quality, establish a healthy emotional connection, and gradually let your child have a sense of love and belonging. We also call it "safe attachment". The trust you built before the age of three will affect your child’s life development. For example, he will form healthier interpersonal relationships, become more independent and more confident.

Original title: "Family Education | Three Points to Pay Special Attention to in Raising Children"

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The 6th Chinese Billiards World Championships kicked off.


Original title: The 6th Chinese Billiards World Championships started.

The 6th Chinese Billiards World Championship opened in Yushan County, Shangrao City, Jiangxi Province on the evening of the 8th. 496 players from 41 countries and regions competed for the world championship in the eight-day competition.

As a billiards project with independent intellectual property rights, Chinese billiards has developed rapidly in China and even the whole world since 1980s. In 2012, the Small Ball Sports Management Center of the State Sports General Administration officially announced that the project was named "Chinese Billiards", and in accordance with the relevant standards promulgated before, the unified standard table and ball were selected, and the sport began to get on the right track.

In 2015, China Billiards Association initiated the CBSA Chinese Billiards World Championship, which accelerated the internationalization of Chinese billiards and made Chinese billiards gradually accepted by billiards players and fans all over the world. In recent years, with the rules and skills of Chinese billiards spread around the world, the booming Chinese billiards has gradually become an important part of the world billiards.

The number of participating countries and the number of participants in this World Championship of Chinese Billiards reached a new high, making it the largest Chinese billiards competition in the world. In recent years, Yushan, Jiangxi Province has made every effort to build a county sports brand featuring billiards, successfully held five Chinese billiards world championships, four Chinese snooker world open tournaments and Chinese billiards international professional leagues, and gradually embarked on the road of high-quality development of county sports from resources to products, from products to events, from events to culture, and from culture to brands.

"The Chinese Billiards World Championship is not only a simple sports event, but also the achievements and honors of all athletes. It is a platform for billiards people all over the world to communicate and enhance their friendship, and it is also a platform to show the charm of Chinese billiards." Gan Liantong, vice chairman of China Billiards Association, said. (Qiu Jianhui, Ma Jing)

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Big callback! China stock market is two worlds apart.

Huijing Ye Tan finance

Text/Huijing

Wang Wu threw a philosophical question in the exchange group of the real competition yesterday. Why didn’t the cars collide when we were driving on the road?

People in the group were asked, and they were crazy about asking questions.

Wang Wu continued, because when we are driving on the road, we will stop when we see a red light, turn when we see a curve, and avoid when we see an oncoming car.

People in the group are even more confused. Art Wang Wu, what do you mean?

Wang Wu replied in the group,Why don’t we sometimes "stop", "turn" and "avoid" when doing business? Why is it so hard to do it?

On April 21st, Black Friday was staged in China stock market, and there was a 100-share limit.

Judging from the trend, the Shanghai Composite Index weakened from the opening price of 3,364 points, and unilaterally fell to the closing price of 3,301.26 points throughout the day, with a decline rate of 1.95%, close to 2%.

From the graphic point of view, a big yinxian line of the Shanghai Composite Index reversed the Zhongyang line on April 17, showing a sharp decline.

In this regard, some people may think that the stock market is about to start a wave.Adjustment of midline levelMaybe some people will think that this is a once-in-a-lifetime event.Call back and get on the busOpportunity.

Some people are bearish on the market outlook, and some people are bullish, so there will be differences and there will be transactions.

Personally, I don’t shy away from my own point of view, bearish on the growth track and look at the multi-value track.

March 28EvacuationIn this paper, it has been considered that the concept of ChatGPT with an increase of over 100% presents a largefoamAnd made countermeasures.

At the same time, I also think that the future market of the stock market is mainly in the value track.February 23 rdState-owned enterprises outperformed the national GDP growth rate.April 18thOnce again, the importance of the value track was expounded.

Figure: Net buying status of foreign capital Source: Straight flush

Why does the market have different views of bullish, bearish and volatile?

Because there are a thousand readers, there are a thousand Hamlets.

Everyone’s different growth environment and social experience will inevitably bringDifferent world views, mapped to the stock market, will produce different trading views.

Views are very important, but more important than trading views is to stick to your own ability circle.

Repeat the three stages of ChatGPT market to explain the logic of sticking to one’s ability circle in the structural market in the stock market.

The hazy stage of the market,Some people are optimistic, buying and holding artificial intelligence to make profits. At the same time, some people are not optimistic, and they also make profits by doing other things that they are optimistic about, such asChina Software, Taiji SharesDomestic software sector, etc.

The development stage of the market,Some people began to be optimistic, chasing high and holding artificial intelligence for the first time, and then quickly taking profits and making profits.

The fishtail stage of the market,People who were initially optimistic began to bearish and take profit positions.Profits are safe.

Fish tail market,There are also many funds for flips, such as the funds for buying domestic software in the early days. They are not eager to catch up with the market, but they have made a counter-pumping market after the plunge, that is, Longhuitou Scenic Spot, for example360, Inspur InformationSuch as artificial intelligence plate.

Obviously, everyone has different judgments and opinions on the ChatGPT market, but they all earned profits in their own ability circle in the ups and downs of the market.

That is to say, everyone chooses a different way to go to Rome, but as long as they stick to it and don’t go upside down repeatedly, all roads will eventually lead to Rome.

This truth can also be used to answer Wang Wu’s philosophical questions above.

Trading is analogous to driving. When we are driving on the road, if we are in a hurry to do something, we may run a red light, such as going to the hospital, rushing to work, rushing to the airport and so on.

If you suddenly enter a strange place, you may not turn, such as entering the forest, desert, foggy weather, etc.

If you are not in the state when driving, you may not avoid coming cars, such as fatigue driving, drunk driving, sending text messages, etc.

In fact, these "what if scenarios" are things outside our ability circle, and most of the time we don’t have accidents when driving, because we are doing things within our ability circle.

Further divergently speaking, some people’s ability circle is riding a bicycle, some people are driving a car, and some people are flying a plane. They should guard their own ability circle so that traffic accidents will not occur.

Therefore, the viewpoint of ups and downs in China stock market is of course important, but what is more important than the viewpoint is not to be greedy or envious, to foster strengths and avoid weaknesses, to stick to one’s own ability circle, and to earn profits that one can earn.

China’s stock market is a barometer of the economy, and its ups and downs also imply the two worlds of economic inflation and deflation.

On April 21st, the China stock market made a big correction, among which the leading sectors were mainly Chatgpt industrial chain, including big data models and semiconductor chips, which led the gains in the previous period and attracted more funds.

On the other side,The national defense military industry has shown obvious resistance to falling, even rising against the trend.At the same time, the performance of China’s characteristic valuation sector (China Special Valuation) is better than the market average.

In other words, on Black Friday, on the one hand, the value track resisted or even rose against the trend, and on the other hand, the growth track led the decline or even fell to a large limit.

It is worth noting that not only the China stock market has experienced the ups and downs, but also the structural market.

Real estate market,There is a long-lost Xiaoyangchun market in the core areas of first-and second-tier cities, while the third-and fourth-tier cities are still sluggish.

Commodity market,The market of black plate of screw thread and iron ore continued to fall, while the market of energy and chemical industry and live pigs obviously resisted falling or even rose.

In addition, the prices of automobiles, household appliances, photovoltaics and other fields are falling, reflecting the deflationary pressure of the economy; However, the prices of services such as catering, haircuts and oil fees are rising, reflecting the inflationary pressure of the economy.

The deflationary pressure of large-scale enterprises and the inflationary pressure of small and micro enterprises are also reflected in the first quarter of 2023.GDP growth rateGo.

China’s GDP growth rate in the first quarter was 4.5%The growth rate of the secondary industry dominated by large-scale enterprises is 3.3%, which is lower than the average growth rate of GDP; The growth rate of the tertiary industry dominated by small and micro enterprises is 5.4%, which is higher than the average growth rate of GDP (see the figure below).

The whole economic market is half flame and half seawater.

All of the above fully shows that the economic probability of China, including the stock market, has entered a differentiated market.So, the stock marketUnder the general trend that the whole economy is divided, the differentiation will gradually become the norm.

That is to say, the risk of China investors chasing up and down will be further amplified, on the contrary, the cost performance of China investors buying at low prices will be further strengthened.

Figure: GDP growth rate of service industry and industry Source: wind

Finally, I personally think that we can have divided views on the trends of stocks, even real estate, gold and bonds.

However, we all have to implement our own views and realize the realization within our own ability circle.

For example, we all know that Wenzhou real estate speculators are very profitable, but is that our ability circle? For example, we all know that the stock market is very profitable, but is that our ability circle?

For another example,

Just because others can watch more and do more doesn’t mean we can watch more and do more. We can watch more and stay put, and then do more when we trigger our own ability circle signal.

Everyone’s ability circle is different, and these signals are naturally different. It can be that the golden fork is long, the Brin channel breaks up and goes long, and after breaking through the 60-year moving average, it will step back and go long, and continuously pull back to the golden section to buy long.

These signals can also be that the first quarter report is in line with expectations, the price falls to the lower end of the enterprise valuation, and the marginal variables in the enterprise performance are long.

Personally, I feel that the adjustment of China’s economy, including the stock market, real estate, gold, bonds, etc., will also have constant structural differentiation, and the track style will rotate.

We should cherish more what we are good at, persist in fostering strengths and avoiding weaknesses, and stick to our own ability circle. Don’t go astray, let alone join in the fun outside your own ability circle.

What do you think?

(Disclaimer: This article is an objective analysis of the public information of Ye Tan Finance and Economics, and does not constitute investment advice. Please do not use it as the basis for investment.)
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The Ministry of Housing and Urban-Rural Development fully gives urban real estate control autonomy, and cities can adjust their real estate policies according to local conditions.

January 26, 2006: The Ministry of Housing and Urban-Rural Development held a deployment meeting of urban real estate financing coordination mechanism this morning. The meeting demanded that we should adapt to the new situation that the relationship between supply and demand in the real estate market has undergone major changes, speed up the construction of a new model of real estate development, combine the long and short, treat both the symptoms and the root causes, and promote the stable and healthy development of the real estate market. It is necessary to adhere to the policy of the city, precise policy, one city and one policy, make good use of the policy toolbox, and fully give urban real estate regulation and control autonomy. Cities can adjust their real estate policies according to local conditions.

It is necessary to work out the housing development plan, improve the housing supply system of "guarantee+market", establish a new linkage mechanism of people, housing, land and money, improve the basic system of housing life cycle, implement the construction of affordable housing, the construction of public infrastructure for emergency use and the transformation of villages in cities, and build a green, low-carbon, intelligent and safe house. It is necessary to rectify the order of the real estate market, rectify the chaos in real estate development, trading, intermediary and property, expose typical cases of violations of laws and regulations, and earnestly safeguard the legitimate rights and interests of the people.

Yesterday, Xiao Yuanqi, deputy director of the State Financial Supervision and Administration Bureau, attended the press conference of the State Council Office and said that the real estate industry has a long chain and a wide range, which has an important impact on the national economy and is closely related to the lives of the broad masses of people. The financial industry is duty-bound and must be strongly supported.

Xiao Yuanqi said that accelerating the implementation of the coordination mechanism of urban real estate financing is effective, requiring banks to act as soon as possible. Under the lead coordination of the urban people’s government, together with the housing and construction departments, the policy toolbox will be used well because of the city’s policy, and the reasonable financing needs of real estate projects will be more accurately supported.

Support local city governments and housing construction departments, further optimize individual housing loan policies such as down payment ratio and loan interest rate due to city policies, and guide and urge banks to better serve the financing needs of the broad masses of people’s rigid and improved housing. Guide and require banks and other financial institutions to vigorously support the construction of "three major projects" such as "emergency and emergency" major infrastructure and urban village reconstruction, and demand that the physical workload be formed as soon as possible.

Previously, the Ministry of Housing and Urban-Rural Development and the General Administration of Financial Supervision jointly issued the Notice on Establishing a Coordination Mechanism for Urban Real Estate Financing, requiring cities at or above the local level to establish a coordination mechanism for real estate financing, build a communication platform between government, banks and enterprises, and promote the accurate docking of housing enterprises and financial institutions.

Guojin Securities pointed out that the real estate sector is at the double bottom of performance and valuation, and the policy catalyzes or welcomes layout opportunities. The improvement of operating property loan policy can improve the cash flow of housing enterprises to a certain extent, and the key to the stable and healthy development of the industry lies in the stabilization of sales, which still needs the continuous support of loose policies.

Ping An Securities believes that this time, financial institutions and the General Administration of Financial Supervision jointly issued a notice on doing a good job in the management of operating property loans, refining the requirements for the management of commercial banks’ operating property loans, such as caliber, duration, quota and use, and further broadening the financing channels of real estate enterprises.

Meet the reasonable financing needs of real estate enterprises with different ownership equally

Ni Hong, Party Secretary and Minister of the Ministry of Housing and Urban-Rural Development of the People’s Rerublic of China attended the meeting and stressed that accelerating the implementation of the coordination mechanism of urban real estate financing is effective, supporting the development and construction of real estate projects, meeting the reasonable financing needs of real estate enterprises with different ownership equally, and promoting the stable and healthy development of the real estate market.

All localities should pay close attention to research and put forward a list of real estate projects that can be given financing support to accurately and effectively support reasonable financing needs.

The meeting emphasized that the orderly development and construction of the project is the basis for the stable and healthy operation of the real estate market and is related to the vital interests of the people. In view of the current financing problems of some real estate projects, all localities should focus on projects, study and put forward a list of real estate projects that can be given financing support, coordinate the issuance of loans by financial institutions within their respective administrative regions, and accurately and effectively support reasonable financing needs. Credit funds should be ensured to be operated in a closed way and used in compliance, and misappropriation should be resolutely prevented. At the provincial level, it is necessary to track and monitor the implementation and strengthen supervision and guidance. At the national level, an information platform for urban real estate financing coordination mechanism projects will be established, and weekly scheduling and monthly notification will be implemented.

The meeting demanded that we should adapt to the new situation that the relationship between supply and demand in the real estate market has undergone major changes, speed up the construction of a new model of real estate development, combine the long and short, treat both the symptoms and the root causes, and promote the stable and healthy development of the real estate market. It is necessary to adhere to the policy of the city, precise policy, one city and one policy, make good use of the policy toolbox, and fully give urban real estate regulation and control autonomy. Cities can adjust their real estate policies according to local conditions. It is necessary to work out the housing development plan, improve the housing supply system of "guarantee+market", establish a new linkage mechanism of people, housing, land and money, improve the basic system of housing life cycle, implement the construction of affordable housing, the construction of public infrastructure for emergency use and the transformation of villages in cities, and build a green, low-carbon, intelligent and safe house. It is necessary to rectify the order of the real estate market, rectify the chaos in real estate development, trading, intermediary and property, expose typical cases of violations of laws and regulations, and earnestly safeguard the legitimate rights and interests of the people.

The list of the first batch of real estate financing coordination mechanism projects will land before the end of the month.

The meeting proposed that an information platform for urban real estate financing coordination mechanism projects will be established at the national level, and weekly scheduling and monthly notification will be implemented. The Ministry of Housing and Urban-Rural Development has made great efforts to implement the mechanism. It is understood that before the end of this month, the first batch of projects can win loans after landing.

This article comes from: financial circles

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Fashionistas must watch, and young women’s wearing skills and fashion elements become "fashionable essence"

Below, let’s reveal the dressing skills and trend elements of young women, so that you can become a fashionista and shine with youth and vitality. Whether you like sports style or literary atmosphere, here are some inspiration and matching suggestions for you. Follow our steps, break away from the ordinary and become the brightest focus.

The trend of fashion changes like the change of four seasons, and each season will have different popular elements. Young women might as well pay more attention to the clothes of some fashion bloggers and stars, and get inspiration from them.

A simple blue-and-white casual style can make you feel energetic and confident in this spring, and a fresh and pink printed dress can also make people feel better instantly.

In this spring’s fashion trend, lace, bubble sleeves, strapless and other elements have attracted much attention. You can try to add these elements to your own clothes to show a unique fashion attitude.

The bubble sleeve shirt in the same color style above uses a square neckline, which can well reveal the clavicle line and is very temperament.

I suggest that when you choose the bottoms, you should emphasize the position of the waistline as much as possible, and it is a good choice to wear short skirts or high-waisted pants.

For young women who want to become fashion icon, basic items are indispensable. White T-shirts, jeans, black high heels, etc. are all essential items to build a basic wear.

The floral dress with a pure white suit is simple and fresh, and it is also suitable for workplace modeling. Another set of shirts is matched with the shape of cowboy overskirt, which is formal, capable and slim.

Basic items are not only classic and versatile, but also can be used as the basis for creating trends and showing personal style through different collocation methods.

Overskirt, with a tall waist and a straight tube, is too friendly for a small girl with a thin figure. She suddenly raises her waistline and looks invincible in proportion.

The top is short and the bottom is long, so it’s easy to wear. Whether it’s a denim jacket or a sleeveless sweater with a high waist and a long overskirt, it’s as refreshing and elegant.

In wearing, sometimes too many elements will make the whole collocation look chaotic. Therefore, less is more, and simple wearing is also a very fashionable choice.

For example, wear a plain coat with a pair of pants or skirts with a sense of design, and use the sense of design and lines of the single product itself to create a layered and tasteful collocation.

When wearing a loose collocation, try not to wear exaggerated accessories, so that it will look messy, and the casual low-ball hairstyle will look simple and gentle.

The combination of the upper width and the lower width is easy to appear fat visually, so the neckline design is still the key. Using the small V-neck design, it has the function of showing a small face without showing hypertrophy.

In the season near summer, it is very comfortable to wear such a loose dress, and shopping is a good choice.

In wearing, feminine elements are very attractive, such as lace, satin, bow and so on. These elements can show the femininity and charm of women without losing the sense of fashion.

This brown vintage printed shirt, satin fabric is very textured, revealing a delicate and noble temperament, using a thin belt to slim down, refreshing and capable.

Taro purple is a color that can highlight women’s charm. This taro purple knitted vest has a good texture, and it is gentle and fresh with a high waist overskirt.

When matching, try to add some feminine elements to your own clothes to make the whole match more charming and full of vitality.

Light pink silk scarves and fungus lace shirts can bring a touch of femininity to the simple and casual style. This short vest with the shape of high waist overskirt is formal, capable and elegant.

Need to be reminded that when you choose a little feminine dress, try to avoid tacky and old-fashioned collocation, otherwise it will only be boring.

Conclusion: This time, the content shared for you is over. I hope that the dressing skills and trend elements shared in this article can provide some inspiration and help for everyone’s fashion path, so that everyone can show their charm and elegance in dressing.

This article was originally created by Tiger Brother, and the pictures are all from the Internet. If there is any infringement, please contact to delete it. If you need to reprint it, please indicate the source, and plagiarism will be investigated! # For mature women #

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Where is the way out for domestic beauty products that are difficult to sell at high prices?

Image source @ vision china

After eight days, Hua Xizi finally spoke.

However, the statement did not respond to the high-priced controversy, but reiterated its brand vision as a domestic beauty brand "promoting the beauty of the East and casting a century-old national makeup".

Whether this statement can satisfy consumers who have previously felt "backstab" or not. It is almost a consensus that it is not so easy for "all girls" to buy it.

More and more rational, they are using actions to announce the failure of their price and sentiment cards to the brand.Since the price dispute, they have been saying, "Who is not a domestic product? Who will feel sorry for me?" Take off the emotional binding, while comparing the domestic make-up with the gold price, and measure the cost performance with the accurate price comparison method.

At the same time, it is obvious that Li Jiaqi has had a hard time recently.

Being questioned and apologizing twice failed to quell dissatisfaction. It seems that this matter can’t pass if the powder continues to fall, the topic is constantly derived, and the heat persists for a long time.

Image source @ Little Red Book Davidkwok

Looking back from the time corridor, on the one hand, Li Jiaqi, who has grown into the "first brother" by virtue of his low price advantage and high emotional value, and on the other hand, the light of domestic products, which embodies consumers’ feelings and high cost performance expectations.The rise and fall of the two are so similar and intertwined.

Now, the other side of Li Jiaqi being questioned is the dilemma of domestic beauty cosmetics.

More and more consumers are beginning to feel that domestic products are becoming more and more expensive. They show their feelings and seek resonance by taking screenshots of their past orders on social media.

Image source @ Xiaohongshu Xiao Lv’s embarrassing life

Is this really the case?

Take shanghai jahwa, which owns well-known brands such as Liushen, Meijiajing, herborist, Qichu and Yuze, as an example. According to the announcement of its main business data, the average price of skin care products in the first half of this year and the second quarter of this year increased by 50.42% and 20.16% respectively compared with the same period of last year, which helped its skin care products achieve positive revenue growth.

Image source @ shanghai jahwa’s main business data announcement in the first quarter of 2023

Image source @ shanghai jahwa main business data announcement in the second quarter of 2023

Look at Polaiya, the parent company of Polaiya, Yuefushan and Caitang. In the first quarter of 2023, the skin care products and beauty cosmetics products of Polaiya increased by 21.69% and 23.28% respectively.

Image source @ Proya’s main business data announcement in the first quarter of 2023

In addition, in the first and second quarters of 2023, the average selling price of Marubi skin care products increased by 39.76% and 14.83% respectively, and the average selling price of beauty products increased by 27.22% and 15.90%. In the first half of 2023, the price of skin care products increased by 5.6% and the price of cosmetics increased by 4.9%.

Image source @ Betani 2023 semi-annual report

It can be seen that the price increase that consumers feel is not groundless.

From the main cost performance to "more and more expensive", the rising price of raw materials may be the reason that cannot be ignored.

At present, the key raw materials used by domestic skin care and beauty enterprises mainly rely on imports from the United States, Germany, Japan, South Korea and other countries, such as surfactants for cosmetics, thickeners, high-performance oils and fats, and high-safety preservatives. Therefore, the fluctuation of the supply price of upstream raw materials will indeed greatly affect the beauty and skin care brands.

Since the epidemic, the price increase of some basic raw materials, such as glycerol, has been particularly obvious.

Recently, many giants such as Dow Chemical, Japan PE Co., Ltd., Japan PP Co., Ltd., Sanyo Chemical, Longbai Group, etc. also announced price increases ranging from 5% to 23%, involving cosmetic raw materials such as silicone, surfactant, PMMA, PP, PE and titanium dioxide used as a physical sunscreen, and the price per ton directly exceeded 1,700 yuan.

Polaiya also said in the announcement that the prices of its main products, ruby and active substances with strong efficacy, have increased significantly-the average unit price in the first quarter of 2023 increased by 305.85/kg, an increase of 116.05%.

With the rising cost of raw materials, it is not only domestic brands that raise prices. However, the price increase of international big brands is much milder.

For example, the financial report of consumer goods giant Unilever shows that the price of beauty and health care products rose by 7.5% in fiscal year 2022.

Estee Lauder Group has also raised the price of its products twice in 2023, involving many of its star products, but the increase is relatively limited except Clinique Little Daisy Blush.

Data Source @ Official Flagship Store, Cartography @ Titanium Media APP

In this way,The rising cost caused by the rising price of raw materials is not enough to explain why domestic brands have changed from "flat replacement" to "expensive replacement".

The huge marketing expenses, including the commission of the anchor with goods, are another main reason.

According to the financial report data released by various companies, the sales expenses of various beauty products accounted for about 45% of the revenue in the first half of this year, and the parent company of Perfect Diary, Yixian E-commerce, had the highest proportion, accounting for 61.69%.

Image source @ 么么么么么么么么么么么么么么么么么么么么

Comparing the marketing expense rate of international brands such as Estee Lauder, Shiseido and L ‘Oreal, which is around 30%, we can see that domestic beauty brands are highly dependent on marketing.

This is actually related to the growth experience of domestic beauty brands.

A few years before the flood of new domestic brands emerged, the grass planting economy was just emerging and the online traffic cost was still relatively low. At that time, most of the new beauty brands were established in a short time, with small capital scale, and their ability to lay offline sales channels was limited. Therefore,In the early days of its establishment, online became the main position for the marketing and sales of domestic beauty brands.

At that time, an unwritten explosive formula was popular in the industry: "5,000 little red books+2,000 Zhihu questions and answers+head anchor with goods = a new brand".Seize the user’s mind and achieve explosive growth through marketing, which has almost become the standard of new brands of domestic beauty.

Take Huaxi Zi in this storm as an example. Founded in 2017, it is experiencing a channel dilemma when it comes into contact with the live broadcast room in Li Jiaqi in 2018. At that time, Li Jiaqi had just defeated Ma Yun in the Double Eleven PK selling lipstick, and began to emerge in the field of e-commerce live broadcast.

Looking back on the five years when Hua Xizi and Li Jiaqi were deeply bound, many sales miracles occurred at this time: in 2019, "double 11" sold 700,000 boxes of loose powder of Hua Xizi; In 2020, "618" Hua Xizi became the first in the turnover list of domestic beauty products with GMV of 235 million yuan, and its revenue jumped from 10 million to several billion. According to the quality statistics, from January to February, 2020, 40% of the sales of Huaxizi flagship store came from the live broadcast room in Li Jiaqi.

Hua Xizi’s growth experience is only a typical representative of domestic beauty, and there are also perfect diaries, orange blossoms, Yuze and so on.

Over-reliance on online marketing has made many domestic beauty products form a revenue-driven growth model.

Take Yixian E-commerce, the parent company of Perfect Diary, which was listed on the US stock market only three years after its birth, as an example. According to its announcement data, from 2018 to 2020, Yixian E-commerce spent 309 million yuan, 1.251 billion yuan and 3.412 billion yuan on sales and marketing respectively, with the highest proportion accounting for 65.2% of the total revenue. With the rising marketing expenses, its scale has also been rapidly expanded.

However, with the contraction of marketing expenses by Perfect Diary, its operating income is also affected simultaneously: in the first quarter and the second quarter of this year, the proportion of marketing expenses of Yixian e-commerce decreased by 7.9% and 2.5% respectively compared with the same period of last year, and the total net income decreased by 14.1% and 9.8% respectively.

More seriously, with the surge in online traffic costs,Many domestic beauty brands are caught in the "strange circle" cycle of exchanging marketing for revenue.That is to say, if marketing is reduced, revenue may decline, but if marketing is maintained, high traffic cost will cause losses, and even it may fall into a negative cycle of more money burning and more losses.

In this way, the price increase has become a natural choice in the dilemma of domestic beauty.

At the same time of rising prices,A large number of domestic beauty brands are disappearing in invisible places.

According to incomplete statistics, from June 2022 to now, there are about 12 cutting-edge makeup brands that have declared bankruptcy/clearance/suspension. Among them, there are some brands that have exploded, such as floating Fomomy and Kale said Colorpedia, which shows that the market competition is fierce.

Cartography: titanium media APP

Consumers’ enthusiasm for buying domestic beauty brands has also begun to cool down.

In this year’s TOP20 of Tmall’s 618 beauty industry, only four domestic brands entered the list, namely Polaiya, Winona, Fumei and Shuguang, and the corresponding rankings were TOP4, TOP9, TOP13 and TOP19.

Image source @ tmall beauty cosmetics

Looking back at the development of domestic beauty brands in the past ten years, the market share has increased from 15% in 2012 to 28.8% in 2021.

However, while we are excited about this, we should also see the fragility of relying on short-term marketing strategies and transferring costs through price increases.

Cosmetics, as a complex mixture of various raw materials, as the core active ingredient and the production technology such as fermentation and synthesis technology, are the key to build its core competitiveness.

In the process of the rise of international beauty products, many brands rely on core ingredients and production process barriers to build a protective city. Take L ‘Oré al’s self-developed Bose factor as an example. Since the successful research in 2000, helena rubinstein, Lancome, Xiuliko, YSL and Yuxi have all participated in Bose factor, occupying the forefront of the anti-aging category. The unique fermentation process of the core ingredient Pitera in the immortal water also helped SK-II build its core competitiveness.

However, R&D capability and core production capability are the disadvantages of domestic brands.

According to the statistics of Dongxing Securities, as of 15th, 2022, the number of patents of Procter & Gamble and Unilever reached 177,154 and 86,074 respectively, and mainly concentrated on inventions with higher gold content and longer patent protection period.

Image source @ Dongxing Securities

According to the data of Tianyancha, the number of patents of shanghai jahwa, Betani, Marubi, Huaxi Bio and Yixian E-commerce are 1650, 244, 396, 646 and 174 respectively, and among the patents in shanghai jahwa, the design category with relatively low gold content accounts for 80.24%; By 2022, Yixian e-commerce has 174 patents worldwide, of which 43 are invention patents.

Image source @ Tianyancha

Image source @ Tianyancha

In addition, domestic beauty products mostly adopt OEM OEM mode, lacking the ability and technology of self-built factory production.

Under this model, the upstream foundry masters the core production technologies such as raw material extraction and preparation, synthetic biotechnology, etc., while the brand side is often caught in homogenization competition, making it difficult to build a brand moat.

Take the category of freeze-dried mask. As a rapidly growing sub-category in recent years, there have been many explosive products. For example, in 2020, the SKU of Yuze freeze-dried mask will reach 2 billion; In 2021, Winona’s double eleven pre-sale freeze-dried mask products were pre-sold in three seconds.

But in fact, these explosions, such as Yuze Centella asiatica reassuring repair mask, Winona soothing repair freeze-dried mask, and Appropriate Herbal Gentian reassuring repair freeze-dried mask, were all made by the same foundry that mastered the core freeze-dried mask technology-Weibo Haitai.

According to the information, Weibo Haitai has cooperated with many brands to list dozens of masks and essence products of herborist, Yuze, L ‘Oreal, Ke Beili, Yiyibucao, Winona, Royal Nifang and Liangliang.

Under such fierce competition of homogeneous products, it is difficult to impress today’s consumers only by fighting for low prices and "selling badly"It has become an industry consensus to improve R&D capability, increase investment in innovation and improve product quality.

In the first half of this year, the proportion of research and development expenses of domestic beauty cosmetics has increased to varying degrees. Huaxi Bio invested 187 million yuan in research and development in the first half of 2023, accounting for more than 6%; Betani’s R&D investment accounted for more than 4%, up 33.58% year-on-year; The R&D expenses of Giant Bio increased year-on-year, reaching 80.75%.

Image source @ 么么么么么么么么么么么么么么么么么么么么

In addition to research and development, domestic beauty brands are also making up for shortcomings.

For example, in August this year, the first factory of Yixian E-commerce was put into operation, integrating R&D, manufacturing and quality control, trying to build a moat through self-built factories; Winona gradually diversified her own sales channels, vigorously added more offline, and tried to get rid of single dependence.

Some domestic beauty products have gone abroad and started to show their strength on the international stage.

According to public data, Hua Xizi has been sold to Japan, the United States, Europe and other countries and regions; And relying on "girl’s heart" to win Lolita’s favorite flower knowledge has also caused repercussions in the Japanese market.

The process of the rising of domestic beauty products is doomed to be not smooth sailing. Only by reducing the low cost and increasing the consumption of feelings, a stable and far-reaching brand is bound to fail.

With the continuous evolution of these brands, more possibilities will be created in the future. May a hundred flowers blossom and domestic products become stronger.(This article is the first titanium media APP, written by Yuan Ning, edited by Zhao Hongyu)

references

  1. Q2 Skin Care Products’ Restorative Growth, Focus on Performance Repair and Omni-channel Development of Key Brands in the Future-china galaxy Securities Research Institute
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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)