标签： 南京梧桐客栈

Summary of the contents of the front pages of the four major securities newspapers (January 9)

　　China Securities Journal

　　Funds staged "high throwing and low sucking" drama institutions are optimistic about the A-share market in 2023.

　　Last week, A shares ushered in a "good start". A-share ETFs rose across the board, with a total turnover of 177.347 billion yuan. However, with the recovery of the market, many ETFs that had previously "bottomed out" during the market downturn chose to settle down. Based on the average transaction price of the interval, the net outflow of A-share ETF funds last week was about 9.562 billion yuan.

　　Travel demand blowout, civil aviation industry makes every effort to do a good job in Spring Festival travel rush.

　　After the opening of Spring Festival travel rush on January 7, queues appeared in many domestic airports, and the demand for domestic air travel surged; On January 8th, with the smooth landing of flight CZ312 in Guangzhou, the popularity of cross-border travel and outbound tourism increased.

　　Confidence in tourism consumption will accelerate recovery.

　　From 0: 00 on January 8th, with the policies of China, such as canceling entry nucleic acid testing and centralized isolation, and optimizing personnel exchanges between the Mainland, Hong Kong and Macao, the first overseas flights were ushered in at airports such as Shanghai and Guangzhou after the adjustment of epidemic prevention policies. According to the data of the same journey, the order volume of inbound and outbound air tickets on January 8 increased by 628% year-on-year, setting a peak since March 2020. In addition, China tourists’ enthusiasm for outbound travel is accelerating, and Thailand and Singapore are on the list of popular flight destinations.

　　According to industry insiders, with the liberalization of the entry-exit policy, China tourists’ travel confidence will be rebuilt and tourism consumption confidence will be restored. At the same time, the return of China tourists will bring new vitality to the global tourism industry.

　　Guo Shuqing, secretary of the Party Committee of the People’s Bank of China and chairman of the China Banking and Insurance Regulatory Commission, said that monetary policy should be more inclined to private enterprises.

　　Guo Shuqing, secretary of the Party Committee of the People’s Bank of China and chairman of China Banking and Insurance Regulatory Commission, said in an interview with Xinhua News Agency a few days ago that the key to rapid economic recovery and high-quality development is to convert the total income of the current period into consumption and investment as much as possible. The monetary policy will increase the inclination to private enterprises, maintain the effective growth of total credit, and promote the reduction of comprehensive financing costs.

　　Shanghai Securities News

　　Shenzhen Stock Exchange determines three key points of supervision services for listed companies in 2023.

　　2023 is the first year to implement the spirit of the 20th National Congress of the Communist Party of China. The Shenzhen Stock Exchange has finalized three major points of supervision services for listed companies: enhancing the adaptability of the system and shaping a diversified and inclusive innovation support market mechanism; Enhance the effectiveness of supervision and create an accurate and efficient supervision system for listed companies; Enhance the synergy of services and shape a benign market ecology of joint construction, governance and sharing. Promote the high-quality development of listed companies with high-quality systems, high-quality supervision and high-quality services, and inject new momentum into building a new development pattern for services and achieving high-quality economic development.

　　The snow and ice movement continues to heat up, and the consumption vitality of cultural tourism is accelerated.

　　An e-commerce person who runs ski equipment told reporters that with the recent upsurge of skiing, the overall sales of ski equipment have increased significantly compared with a month ago, and snow clothes and skis are the best sellers. He said that the relevant demand is still heating up.

　　Many places have introduced the "stable post and stay at work" initiative. Red envelopes warm people’s hearts, stabilize posts, grab the start, expand production and increase confidence.

　　In response to the call of "No Closing Time during the Spring Festival", Yang Bo, the head of ZTO Express Shanghai Xuhui South Station, decided to stay at the outlet during the Spring Festival holiday this year. "The company pays three times the salary to employees who stick to their posts during the Spring Festival, and encourages everyone to take a break after the Spring Festival; During the Chinese New Year, our outlets will also organize a New Year’s Eve dinner for everyone to get together. "

　　China’s foreign reserves have risen for three consecutive months.

　　According to the data released by the State Administration of Foreign Exchange on January 7, by the end of December 2022, the scale of China’s foreign exchange reserves was $3,127.7 billion, up by $10.2 billion or 0.33% from the end of November.

　　Securities Times

　　Against the market high! In 2022, 1,541 new funds were issued, raising nearly 1.5 trillion yuan.

　　In the first week of 2023, the A-share market got off to a good start.

　　Although only four trading days, the Shanghai Composite Index still rose by 2.21%, Shenzhen Component Index and Growth Enterprise Market Index both rose by more than 3% last week, and the market sentiment rebounded significantly. In four trading days, the cumulative net purchase of northbound funds reached 20 billion yuan. In terms of fund issuance market, only on the first trading day of January 3rd, a total of 20 new funds (consolidated statistics of different shares, the same below) started to issue, sprinting for a "good start", among which there were many products at the helm of star fund managers.

　　Demand for throat-opening sword spray has increased greatly, and the performance of Guizhou Sanli has increased in advance last year.

　　Benefiting from the sharp increase in market demand for drugs related to infection treatment in novel coronavirus in December last year, (), whose performance declined year-on-year in the first three quarters, successfully reversed its business decline in the fourth quarter.

　　Asia-Pacific countries’ stock indexes are relatively strong, and QDII funds are constantly digging for gold.

　　For investors, A-shares and developed markets such as Europe and America are certainly eye-catching, but the performance of some emerging countries or niche markets is also worthy of attention, and there are many possibilities for high returns. For example, the Indian stock index led the world in 2022, continuing the trend of long cattle for 14 years.

　　Some insiders said that from the perspective of asset allocation, the profits of listed companies in Asia are expected to lead mature markets driven by China and India, and the valuation is attractive. If the momentum of the US dollar turns in the future, funds will flow in again, which may lead to relatively good investment opportunities.

　　After the adjustment, the civil aviation industry accelerated its recovery on the first international flight.

　　On January 8, China Southern Airlines flight CZ312 (Toronto-Guangzhou) successfully landed at Guangzhou Baiyun Airport at 0: 16 on the same day. Flight CZ312 is the first international flight to land in China after the implementation of the entry policy adjustment, and its passengers have become the first batch of people who have been exempted from entry nucleic acid testing and entry quarantine measures in the three years since the outbreak of COVID-19.

　　On January 7, 2023, the 40-day Spring Festival travel rush officially kicked off, and the demand for returning home for the New Year was also released. On the first day of Spring Festival travel rush, the passenger flow of civil aviation recovered obviously, and the domestic flight volume has recovered to more than 80% of the epidemic.

　　Securities daily

　　The concentration of steel industry is expected to further increase the demand for steel in new energy and other fields to drive high-quality development.

　　On January 8th, Qu Xiuli, Vice President and Secretary General of China Iron and Steel Industry Association, said at the 18th China Iron and Steel Industry Chain Market Summit and the 2022 annual meeting of Lange Steel Network that the pace of merger and reorganization of the iron and steel industry will be accelerated, and the industry concentration is expected to be further improved.

　　A number of interviewed experts told the reporter that in 2023, the steel industry will accelerate the reshuffle, and mergers and acquisitions will continue to advance.

　　In many places, the GDP growth target in 2023 will exceed 5.5%, and economic recovery is full of confidence.

　　Recently, two local conferences have been held one after another. The 2022 transcripts were published in many places, and the economic development goals for 2023 were determined. Among them, Jinan, Hefei and many other cities have set the GDP growth target in 2023 at more than 5.5%.

　　Photovoltaic cell technology accelerates to N-type development. Old players favor TOPCon newcomers to bet on HJT.

　　In the four trading days at the beginning of the new year (as of January 6, 2023), () the photovoltaic concept index rose by 5.91%, which was eye-catching.

　　In the industry’s view, the concept of photovoltaic is hot, not only because China’s photovoltaic industry occupies more than 70% of the global market share; It also benefits from the accelerated innovation of photovoltaic industry technology, which is very attractive to capital and makes the industrial prospects brighter.

　　The combination of tax reduction and fee reduction helps the R&D investment of listed companies increase year by year.

　　Liu Kun, Minister of Finance, said in an interview recently that we have implemented a series of tax reduction and fee reduction policies, and the government revenue has been reduced, which has enabled enterprises to travel lightly and enhance their vitality, effectively improving the expectations of market participants. In particular, in 2022, a large-scale value-added tax will be implemented to offset the tax refund, and the annual tax reduction and fee reduction and tax refund deferral will exceed 4 trillion yuan to help enterprises tide over the difficulties.

In 2023, Spring Festival travel rush welcomed the ＂big exam＂

　　Xinhua News Agency, Beijing, January 13th 　Title: Spring Festival travel rush welcomes the "big exam" in 2023.

　　Xinhua news agency reporter

　　The Spring Festival of the Year of the Rabbit is approaching, and the annual curtain of Spring Festival travel rush has been opened. This Spring Festival travel rush is the first Spring Festival travel rush after the epidemic prevention and control entered a new stage. Facing the peak passenger flow that has not been seen for many years, most areas have experienced cold weather of rain and snow, and are facing a "big exam".

　　In the early morning of January 7, the EMU train stopped at the parking line of Wuhan EMU (photo of UAV splicing). Xinhua News Agency reporter Wu Zhizun photo

　　The passenger flow is rising rapidly, and the trip is busy and orderly.

　　At 16: 00 on the 12th, the express bus terminal in Dali, Yunnan Province was full of people, and passengers carrying big bags and small bags kept shuttling in the station.

　　"Short-and medium-distance passenger transport is a useful supplement to airplanes and motor trains. After the start of Spring Festival travel rush, the passenger traffic volume of Dali increased by about 10% month-on-month, and the passenger flow was mainly short-distance passengers in Dali. " Zhou, assistant general manager of Dali Transportation Group, said.

　　With the acceleration of the implementation of the "Class B and Class B Management" measures, the cross-regional personnel flow is accelerated, and the accumulated travel demand for returning home for the New Year, visiting relatives and friends, and sightseeing in the past three years has been released. This year, the passenger flow in Spring Festival travel rush has turned from a low level to a rapid increase.

　　On January 7, in the waiting hall of Shenzhen North Railway Station, passengers were ready to check in and get on the bus. Xinhua News Agency reporter Mao Siqian photo

　　According to the data from the Ministry of Transport, the total passenger flow in Spring Festival travel rush this year is estimated to be about 2.095 billion, nearly double the same period last year. In the past week (from 7th to 12th) in Spring Festival travel rush, about 221 million passengers were sent nationwide.

　　Judging from the composition of passenger flow, this year, Spring Festival travel rush is expected to account for about 55% of Spring Festival travel rush’s passenger flow, about 24% for work flow, and about 10% for tourism and business travel respectively; The proportion of self-driving, intercity carpooling and customized passenger transportation will be further improved.

　　"This year, the peak of people flow and the peak of epidemic situation in Spring Festival travel rush are superimposed, which is the most difficult and challenging Spring Festival travel rush in recent years." Xu Chengguang, vice minister of the Ministry of Transport, said that with the rapid recovery and climb of passenger flow in Spring Festival travel rush, transportation has rapidly changed from low-load operation to full-load operation.

　　At 8: 00 am on the 11th, Cao Feng, who is doing business in Ganzhou, arrived at Ganzhou West Railway Station early, ready to take the G486 train back to his hometown in Zhengzhou for the New Year. He didn’t go home for three years with a big bag, full of Gannan specialties and Chinese New Year gifts for his little granddaughter.

　　"This year, foreign tourists have embarked on the journey of returning home, and the familiar Spring Festival travel rush is back." Chen Ping, a passenger attendant at Ganzhou West Railway Station, said.

　　On January 7th, passengers stopped at Suzhou Station. Xinhua News Agency reporter Li Boshe

　　The transportation departments at all levels in the country have strengthened the transportation capacity dispatching guarantee and prepared for the "big exam".

　　In the hinterland of the Central Plains, Zhengzhou North Railway Station has formulated a transportation organization plan in advance to closely link the operations of various types of work and improve the efficiency of key operations such as dispatching and commanding and shunting operations; In the eastern coastal area, Hangzhou Railway Station plans to open 137 pairs of passenger trains, dynamically adjust the train operation plan according to the passenger flow situation, and increase the passenger capacity … …

　　Transportation and logistics are connected with people’s livelihood. Near the Spring Festival, consumer demand is growing rapidly. Qin Fanghua, the head of Zhengyi Industry Co., Ltd., a cosmetic brush manufacturer in Luyi County, Henan Province, organizes overtime production every day. The "sweet troubles" of too many orders keep her busy and happy.

　　"Compared with previous years in Spring Festival travel rush ‘ Customers increase goods and decrease goods ’ This year, the epidemic peak in Spring Festival travel rush has arrived one after another, and the transportation demand for all kinds of medical and epidemic prevention materials, holiday living materials and key materials such as energy and food this winter and next spring will increase greatly. " Xu Chengguang said.

　　He said that at present, the national traffic "artery" and logistics "microcirculation" are generally smooth, the key logistics hubs are running smoothly, the main logistics operation indicators are stable and good, and the transportation of various key materials is safe and orderly.

　　On January 7, at Wuhan Station, flight attendants hung New Year lanterns on the train. Xinhua News Agency reporter Wu Zhizun photo

　　Equipment comprehensive "physical examination" to ensure smooth road network

　　On the 10th, the snowstorm plummeted in Guozigou, Yili, Xinjiang.

　　On the steep slope with visibility less than 10 meters, snow removal vehicles are driven against the wind in turn. With the cold wave coming, the accumulated snow thickness on the pavement of Saiguo Expressway passing through this area reached 30 cm.

　　"Affected by the windy and snowy weather, we can’t clear the snow as fast as it snows." Liang Xiaopeng, deputy manager of Yili Branch of Xinjiang Xinlu Highway Maintenance Group Co., Ltd. said. In the past few days, Liang Xiaopeng and more than 10 colleagues have carried out five rounds of snow removal operations on the Guozigou section by adopting the "people stop" cycle operation mode to ensure the safe and smooth operation of the road network.

　　Since 2020, the transportation industry has been in a state of low-load operation for a long time, the vehicles have been out of service for a long time or operated at a low level, and the skills of employees have become unfamiliar. In addition, the year-end and the beginning of the year have always been a period of high incidence of safety accidents, and bad weather such as low temperature, cold wave, rain, snow and freezing are prone to occur frequently in Spring Festival travel rush, which brings great challenges to safety production management.

　　In the early morning of the 7th, on the west side of Shanghai Hongqiao Railway Station, more than 10 railway flaw detectors were conducting "overtime physical examination" on key parts such as rail turnouts around Hongqiao Station.

　　In order to avoid the risk of turnout damage at low temperature and accurately detect the tiny cracks on the rail surface of turnout section, on the basis of the original ultrasonic flaw detection and double-track flaw detector, Shanghai Railway Department introduced eddy current flaw detection "robot", which can realize all-round flaw detection of special parts of turnout only by one person.

　　Walking into the comprehensive maintenance depot of Fuzhou East Depot of Nanchang Railway Bureau, you can see a huge display screen. The screen is marked with different colors to show the maintenance progress of 15 stations, such as bogie, car body, coupler, brake and quality inspection. This real-time monitoring system of maintenance production quality is a part of the digital intelligent maintenance based on big data analysis, which can analyze the operation progress of the maintenance site around the clock and realize the visualization and traceability of the operation process.

　　The person in charge of the transportation department of China National Railway Group Co., Ltd. said that during the period of Spring Festival travel rush, the railway department will conscientiously implement various measures for epidemic prevention and control and safety management, and at the same time make good use of the resources of new lines and new stations opened in 2022, as well as the advanced equipment such as Fuxing EMU newly put into use, so as to enhance the overall function of the road network and enhance passenger capacity.

　　In addition, during the period of Spring Festival travel rush, the road transport department will comprehensively inspect and maintain the facilities and equipment to be put into Spring Festival travel rush, and strengthen the dynamic monitoring and management during the operation of "two passengers and one danger" vehicles. Strengthen risk investigation on long bridge tunnels, continuous long downhill roads and other sections, and dynamically release weather conditions and traffic control information.

　　On January 7th, passengers checked the train information in the waiting hall of Xi ‘an Railway Station. Xinhua News Agency reporter Li Yibo photo

　　Travel healthily and return home safely.

　　At 0: 17 on the 8th, China Southern Airlines flight CZ312 from Toronto to Guangzhou landed at Guangzhou Baiyun Airport, which was the first international flight in China after the overall plan of "Class B and B Management" and the implementation of the new entry policy of the Civil Aviation Administration.

　　After the flight landed, the inbound personnel no longer implemented closed-loop transshipment, centralized isolation and other measures, and passengers walked out of the arrival hall one after another. Ms. Gong, who just reunited with her family, said: "After hearing the news that there is no need for isolation, I immediately booked a plane ticket to return to China. I am so happy."

　　"To do a good job in Spring Festival travel rush this year, epidemic prevention and control is crucial." Cai Tuanjie, Director of the Department of Transport Services of the Ministry of Transport, introduced that this year, the Spring Festival travel rush Work Class issued the guidelines for the prevention and control of the epidemic situation in Spring Festival travel rush, issued the guidelines for travel services in Spring Festival travel rush, strengthened the whole chain management, urged transport practitioners to implement detailed prevention and control measures, and guided the public to do a good job in personal health protection.

　　On January 7, at Fuzhou North Bus Station in Fujian, passengers were ready to board the bus. Xinhua News Agency reporter Wei Peiquan photo

　　Returning home healthily is undoubtedly the best gift for your family.

　　"Doctor, I often cough up phlegm. Is there any way?" "I have been coughing for seven or eight days. Do you want to go to the hospital for examination?" … … On the K212 train from Ningbo to Guangzhou, a special health science popularization is going on. Doctors from the First Affiliated Hospital of Zhejiang University School of Medicine popularized Covid-19’s personal protection knowledge and coping methods after infection, and answered passengers’ on-site consultation.

　　"During their stay in Spring Festival travel rush, passengers were concerned about personal protection. Therefore, we specially invite doctors to get on the bus and give health talks and on-site consultations for passengers during the trip, so that passengers can feel at ease on their way home. " Chen Meifang, Party branch secretary of Yong-Guang motorcade in Hangzhou Passenger Transport Section, said.

　　No longer check the negative certificate of nucleic acid test and health code for passengers, and no longer carry out landing inspection; Actively promote the application of online ticket purchase, e-ticket, self-service ticket inspection and other services, and expand the scope of paperless and contactless services; Proper encryption of cleaning and disinfection, ventilation and air exchange frequency & HELIP; … It is everyone’s common wish to pass the epidemic prevention and go home safely.

　　Looking at the highway, covering more than 300 cities across the country, the traffic numbers opened by more than 670 traffic management agencies will release travel information related to major traffic control, public travel policies and dynamic traffic events such as road closure and construction every day. These important information, Gaode Map App will prompt the passengers who go home in time in the form of message push, pre-departure prompt and voice broadcast;

　　Looking at railways, local railway departments have implemented the code scanning service of "railway running smoothly" on more than 3,200 sets of EMU trains nationwide. By scanning the code of "railway running smoothly" on the armrest of the seat, passengers can inquire about the travel service information such as the train’s delay, running position, connecting trains and traffic connection.

　　On January 6, on the tarmac of Chongqing Jiangbei International Airport, captain Kan Shibo inspected the passenger plane before taking off. Xinhua News Agency reporter Liu Yushe

　　Looking at aviation, Nanning Airport opened the "easy security check" channel, greatly reducing the passenger security check time; Daxing Airport in Beijing launched the aging service of "local accent companion", and staff proficient in local dialects sent "the warmth of fellow villagers" to passengers.

　　In Spring Festival travel rush in 2023, more than 2 billion people will migrate. The lively and warm China Year is back, and the hot fireworks are back.

At the end of the retailer, is it media？

This article comes from WeChat WeChat official account:Cross-border talk (id: crossasean), Author: Chloe Wang, original title: "Retail media network, rediscovering the value under the changing situation? 》, the head picture comes from: vision china

Half a year ago, we published an article "Direct or Digital? DTC’s Dilemma and the Way Forward ",which analyzes the difficulties DTC encountered after golden decade, especially Apple’s new privacy policy and Google’s replacement of three-party cookies.(implemented in 2024)It has a direct impact on the accurate advertising model of social media such as Facebook, which leads to the disappearance of classic DTC as the basic premise for the establishment of independent and sustainable business model.

Because the precise locking based on Facebook advertising model basically requires the collection and verification of tripartite data between channels, once the tripartite data cannot be obtained between Apple’s apps and websites through technical means, the past model will face collapse.

However, Facebook and others can’t provide a convincing alternative, and the brand has to find a new way out for this part of advertising.

So the importance of first-hand customers and data is highlighted again in this context.So who has first-hand data? Simply put, it is not someone else, it is a company like Facebook that has a large number of users and user data. Therefore, we can easily understand why they have all made efforts in e-commerce. For example, Facebook/Instagram mentioned several previous e-commerce attempts when the e-commerce business contracted recently:

Facebook hopes to form a commercial "closed loop" with its own first-hand data.(that is, the "closed loop" of advertising effectiveness measurement), judge the user’s purchase link by directly intervening in the transaction without relying on the three-party data, thus completely getting rid of the shackles of Apple’s privacy policy.

Unfortunately, so far, attempts like Facebook have not been successful, and even the e-commerce business has to be contracted because of performance problems. We can also see that,It is difficult to reach the transaction, which makes Facebook’s user data may be sophisticated enough in behavior analysis, but it cannot build a complete business closed loop.

On the other hand, a recent acquisition has attracted our attention.

Hero Cosmetics was acquired.

Hero Cosmetics started in Amazon in 2017, then landed in offline retail stores such as Target, CVS, Ulta Beauty and Urban Outfitters, and launched DTC independent station in 2018.(using Shopify Plus service). Hero’s sales in 2021 was $115 million, its estimated revenue in 2022 was $140 million, and EBITDA in the past 12 months was $45 million.

The purchase price of $630 million means that Hero has become the third Amazon native brand with a purchase price of more than $500 million.(The first two occurred before and after the outbreak of the market boom)It also means 14 times PE, which is quite special in today’s period when listed DTC is still losing money. You know, even SaaS companies, in this year’s situation, the average M&A price is only 3~4 times the annual income.(25 times in previous years).

Hero’s development path is not the traditional typical DTC brand. Although DTC can be said to be one of the components of its business model, it is not the only or mainly dependent model.

In the past, we liked to think of DTC consumer brands as technology companies. For example, companies like Casper seem to have mastered some kind of "technology password", which makes them have the marginal utility and corresponding expansibility of technology companies, but this is not the case.Most DTC companies hold Facebook’s traffic dividend. Once this dividend disappears, these pseudo-technology companies will face the most basic rules of the game in the retail industry: how to achieve profitability is much more important than desperate growth.

The fixed thinking of technology entrepreneurship always pursues the scale of users before considering profits, trying to cover up the losses caused by growth and tell the future prospects of technology companies through the relay of capital. However, once DTC carnival based on venture capital injection and Facebook traffic bonus comes to an abrupt end, it will eventually be unsustainable in the context of deteriorating economic environment, and valuation can only return to the retail industry.

The inspiration of the Hero acquisition is that,DTC is a part of consumer brand strategy, but today it is not enough to support the success of a brand independently.The original intention of DTC is to establish direct connection with customers, but the connection also has efficiency problems. When the connection cost is higher than that of other channels, the brand it has established with other channels will not be competitive enough. What is important is to effectively show itself where customers are.

Nowadays, all costs, including marketing, customer acquisition, performance delivery, are rising, which means that enterprises have to reduce profit margins in an all-round way. In this context, if we rely on a single channel to obtain customers, but we can’t adjust the marketing customer acquisition cost, DTC mode will become a dead knot. After all, the competition faced by retail is not pure online, and the change of cost structure will not affect everyone to the same extent, which is different from the pure online competition of the Internet. Bright star DTC like Peloton also had to choose to enter Amazon.

However, if Facebook’s advertising era is dying, what alternative does brand marketing have? Hero actually gave the direction.

Closed loop of primary data: Amazon’s advertising business

Perhaps the original intention of many DTC brands is to develop independently from retail giants, but Hero’s story is to put DTC fundamentalism.(idealism)Back to reality, Jurhuyu, CEO of Hero Cosmetics, described it this way:

“Amazon、(offline)Retailers and DTC play different roles in omni-channel strategy. Hero uses DTC data to assist Amazon’s decision-making and gain insights from Target to assist DTC innovation. Use Amazon’s operation to influence DTC’s decision. "

"Amazon’s advantage lies in the highest return on advertising, the lowest cost of customer acquisition and the highest repurchase rate."

In short, we can simply summarize Hero’s path as follows:Amaozn—-comprehensive retailer-—DTC.

Ju mentioned Amazon’s advertising advantages, which shocked everyone in 2021. In this year, Amazon’s advertising revenue reached an astonishing $31 billion, with a growth rate of 32% in the fourth quarter, second only to Internet advertising giants Google and Facebook. The volume and growth rate of Amazon’s advertising business are enough to prove the market’s recognition of its advertising platform.

Furthermore, as Amazon continues to try to expand the service scope of its advertising platform and integrate the core demands of DTC consumer brands, such as launching Buy With Prime service, Amazon’s advertising revenue may accelerate.

Why do you say that?

When we combine the display demand of DTC brand with Amazon’s advertising ability, we can imagine another scene that seemed very contradictory in the past:Amazon may become the discovery platform of DTC brand.DTC brand can put "Responsible Brands" advertisement on Amazon website through the indirect way provided by "Buy with Prime" to guide users to their own independent websites.(although it seems that this path is too tortuous at present). For Amazon, which has a large number of consumers and has become the default shopping search engine, it has also become the best opportunity to absorb DTC’s past marketing investment in Facebook and other platforms.

Will this contradict Amazon’s own positioning? I’m afraid Amazon itself is adjusting its relationship with emerging brands and channels and trying to incorporate them into its own territory.(e.g. launch Buy with Prime). The success of Hero, Anke and other brands, and Peloton’s entry into Amazon may all indicate the acceleration of this integration.

Rediscovering the value of RMN

In the retail world, competition will never be absent.

Amazon’s advertising revenue has been concerned by the industry before its financial report was first disclosed. Both Wal-Mart and Target are making similar efforts, and the direction of this effort is RMN.

The so-called RMN, that is, Retail Media Networks.(Retail Media Network, this article is called RMN for short).In fact, retail media has existed for a long time, which is aimed at the presentation of different forms of media when consumers make shopping choices and decisions.

Off-line, from product samples, to in-store display, and then to the advertising space of paper catalogue mailed to home, these are all included in the retail media category. Similarly, in the digital field, brands pay to display their products at the point of sale/terminal.（POS）In order to enhance the possibility of consumers actually buying.

RMN refers to all forms of media management and delivery systems that a retailer can provide.Amazon’s advertising system is a typical example, and large retailers such as Wal-Mart and Target also have their own RMN. Its essence is an advertising platform, which is maintained by retailers themselves and built on the channels and digital assets they own. Both online and offline retailers manage advertising inventory and advertising through RMN at various marketing points in the whole purchase process of consumers.

In other words, large-scale retailers, whether online or offline, have the inherent advantages of first-hand data relative to the brand side. They are the contact points that connect with the end consumers the most and complete the transaction.With the development of technology, every contact point between these retailers and consumers can be digitized, collected and analyzed, and a complete chain can be formed according to the purchase results.

Prior to this, the development of RMN was slow, mainly due to the combination of personal privacy information collected by Facebook and tripartite data, which could meet the needs of the brand under the condition of better cost performance. Today, when this condition no longer exists, the role of RMN is highlighted.

Of course, the reason why RMN began to attract the attention of retailers themselves,In addition to seeing Amazon’s advertising business for many years bring rich rewards, retailers are now facing many challenges, such as supply chain disorder, inventory backlog, inflation and interest rate hikes, insufficient purchasing power, and increased economic recession expectations.For Wal-Mart, Target, Kroger and other large retailers, advertising revenue is the basis to ensure a higher source of gross profit income in chaotic times.

On the other hand,For brand marketing, Apple and Google’s restrictions on private data force the industry to seek alternatives to Facebook based on three-party data.(and similar platforms)Advertising strategy.

In this sense, both the current market situation and the economic situation have created perfect conditions for the rise of RMN. The difficult market environment will inevitably affect the overall advertising budget, which makes the brand have more stringent requirements on input efficiency, and the strict data tracking rules make the consumer data held by retailers more valuable.

Therefore, retailers suddenly find themselves sitting on a gold mine, and the advertising budget that was robbed by Facebook in the past seems to have returned.

In terms of volume, American digital retail media（Retail Media）Advertising spending will reach nearly $41 billion this year, up 31% from 2021, and may reach $61 billion by 2024. According to BCG’s forecast, the output value of global retail media may reach $101 billion this year.(Global advertising revenue is $843 billion)And in five years, it will reach 160 billion US dollars per year.

Among the top 10 retailers in the United States today, there are 9.(including Kroger, Target, Walgreens, Home Depot, etc.)Running their own media network.

Take Target as an example. Target’s Roundel provides advertisers with key data points, such as shopping behavior, insight and analysis. And provide tools to help marketers lock in the audience in the Target ecosystem and form a closed loop to measure advertising delivery to sales. Last year, Target’s advertising service provided more than $1 billion in revenue, and it is estimated to increase to $2 billion in the next few years.

In addition, Tesco has Media and Insight Platform, Wal-Mart has Walmart Connect, and it also includes Kroger Precision Marketing, Carrefour Links, Walgreens Wag and Sainsbury Nectar 360, all of which are the efforts of major retailers in RMN in the past year.

Although other retailers have far fewer contact points than Amazon in all aspects of the consumer shopping chain.(as shown in the figure below)However, this does not prevent each retailer from establishing its own RMN. Even if it cannot compete with it in terms of scale efficiency, RMN business must be followed up in terms of breaking the internal data island, organizing its own digital assets and strengthening its revenue capacity.

In the foreseeable future, the growth trend of RMN will be more obvious, and new opportunities will emerge due to the uneven RMN services provided by different retailers.

What do we realize?

A brief summary of our thoughts on RMN’s return to the field of vision:

References:

https://www.theinformation.com/articles/instagram-scaling-back-shopping-features-amid-commerce-retreat

https://www.theinformation.com/articles/e-commerce-software-startups-poised-for-m-a-spree

https://2pml.com/2022/09/07/hero/

https://2pml.com/2022/08/29/rmn/

https://www.marketplacepulse.com/articles/dtc-brands-can-buy-ads-on-amazon

https://www.marketplacepulse.com/articles/amazon-native-brand-hero-cosmetics-sells-for-630m

https://www.fastcompany.com/90772916/amazon-walmart-retail-advertising-amzn

https://www.bcg.com/publications/2022/how-media-is-shaping-retail

Retail Media: State of the Industry Report 2022 – dunnhumby media

This article comes from WeChat WeChat official account:Cross-border talk (id: crossasean), Author: Chloe Wang


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Netease cloud music listening report has been refreshed again, but there are three new changes this year.

Wen | Shentong Commercial Chu Qingzhou

Hello, everyone, I am a green boat who loves listening to songs.

It is also the year-end inventory season of the Internet platform. On December 29th, the annual Netease Cloud Music Users’ Annual Listening Report was launched.

This is the seventh year since the beginning of 2017. I thought there might be seven years of itchy aesthetic fatigue, but after the report went online, the overall reputation was still very good.

Based on the feedback from users, I noticed three important changes in this year’s music listening report.

These changes, in fact, reflect the development and changes of the music platform itself, such as Netease Cloud Music, at the business level in recent years. According to this context, perhaps we can gain insight into the logic behind this IP screen at the end of each year.

Change 1: from carrying "personal emotions" to echoing "social emotions"

As the name implies, users’ annual report on listening to songs shows users’ personal memories of listening to songs, and personal emotions and emotions behind music, which is also the basis for the continued popularity of listening to songs in the past years.

However, I have observed that from last year to this year, listening to music reports have been based on this, and they have more echoes to the collective emotions of society.

For example, there are more concluding words in this year’s report, such as "your musical spirit"; For example, the mood of listening to songs in four seasons is extracted from the habit of listening to songs in four seasons.

On the surface, this is still a personal emotion. In fact, let’s look at these summarized words, such as "upward force", "no one is more elegant than you", "brilliant sunshine" and "childlike innocence in summer", which are all beautiful words and have the common expectations of most people.

From a certain point of view, Netease Cloud Music seems to reuse the H5 model method of "personality test" in the annual listening report.

Whether using the theory of type 24 personality and personality color before, or quoting the works of music psychologist John Sloboda in this report to present the relationship between music and emotion …

This is not so much a user’s individual "personalized" emotion as a collective and common emotional state of human beings.

Music can be a resonator of social emotions.

Take the World Cup as an example. Every time the World Cup comes, everyone’s first reaction may think of the two works "The Cup of Life" in 1998 and "Wow, Wow, Wow (African Moment)" in 2010. As soon as the music rings, fans will be immediately substituted into their original emotions.

This year’s World Cup also accidentally promoted "Good Morning Long Hui". On the short video platform, this song and the picture of Messi accepting the award became a perfect match.

Under the epidemic, everyone has actually been a little "mourning" recently. This year’s report on listening to songs, from copywriting to pictures and dynamic effects, is focused on taking a beautiful healing wind.

Comparatively speaking, Yuncun specially added an advertisement "Remember all the original music" last year to echo the public sentiment behind the frequent hot events that year.

This year’s idea is to better integrate social emotions with each individual’s emotions.

Change 2: the prominent "time" dimension in the expression of personal emotions.

In the presentation of "personal emotions", this year’s listening report has also added more dimensions. Frankly speaking, the content of communication is afraid of "complexity", because if it is not added well, it will easily become bloated and affect the communication effect.

However, on the whole, the data dimension added this year is still very clear in thinking. One of the outstanding points is that the data dimension around "time" is more prominent.

Part of this is the data that has been available every year in the past, such as the time when I first "met" the platform; What is your most special day of the year, when is the latest time to listen to music, and so on; Part of it is the data added in the past two years, such as "your habit of listening to songs in four seasons"; There are some new additions this year: for example, is your era of listening to music in the 1980s, 1990s or the new millennium, and so on.

Why am I so concerned about time? Because our musical memories are actually related to specific time and specific scenes.

Tayu Lo, the godfather of Chinese music, once specifically mentioned that "music is an art of time, and it must rely on time to prove that it really exists".

For ordinary users who listen to songs, grasping one more time dimension can arouse the emotional memory in a specific scene once more, and the display of emotions is of course more delicate.

Change 3: Why do you want to do "light socialization"?

If the first two points focus on big social emotions and small personal emotions respectively, then the function of "light social interaction" added to the music listening report should be directly related to the community attribute of the platform.

The so-called "light socialization" is mainly reflected in the last egg of this year: let users enter the "cloud empty" field, listen to songs with other online users, meditate on cyberspace, and welcome the New Year.

In fact, before Netease Cloud Music’s annual listening report, it also tried "social" gameplay, and there were disputes and discussions. However, this year’s report grasps the "atmosphere" of user communication, and I think the general direction is no problem.

Why do you say that? Because strangers socialize, there are actually two completely different emotional demands.

The first appeal is to pursue "simple and direct" efficiency. This is the demand that social products such as Momo and Exploration try to meet. However, this is not suitable for communication based on interest or musical taste.

The second emotional appeal of strangers’ communication, on the contrary, is "inefficient". The most typical case, such as the game "Light Encounter" created by Chen Xinghan, is called a social adventure game, but its socialization is an inefficient socialization, but users prefer this warm and warm atmosphere.

Another example is the "listen together" function created by Netease Cloud Music. After listening to songs together, you may never meet the opposite partner again, but the average daily use time of a single user is more than 2 hours, which proves that users highly recognize this communication method.

Inefficient socialization, like simple, direct and purposeful stranger socialization, reflects two aspects of human nature and is an emotional appeal of human nature.

This time, I tried to combine "emotional resonance" with "light socialization" and really found a suitable and warm gathering atmosphere for music.

Behind the change of annual music listening report, the morphological change of online music products

From the marketing point of view, this year’s annual listening report of Netease Cloud Music really reflects the team’s innovative ability; However, from the perspective of lower-level business logic, the changes in the content of listening to music reports in recent years are actually a silhouette of the changes in the form of Internet music products.

First of all, the music platform has changed from a "small and beautiful" product to a "daily use" mass product.

Under the comprehensive factors such as the ten-year development of the mobile Internet, the accelerated expansion of the car market and the rise of short videos, the importance of music products has not decreased, but increased.

On the one hand, the influence of the music platform continues to improve. For example, Netease Cloud Music, which was the first to open up the situation among young users in the first and second lines, has had 182 million monthly activities after years of development; On the other hand, Aauto Quicker music, soda music and other new forces have joined the game, which reflects the growing influence of the music market itself.

This is the premise why the music platform can move from bearing "individual emotions" to echoing "social emotions".

Although pop music is the most convenient carrier of cultural communication content, China’s music market has also experienced many years of lows in those years when piracy was rampant. Only when the volume of products and the influence of the music market have reached the whole people, can music really give full play to its potential value as a resonator of social emotions and a transmitter of the spirit of the times.

Secondly, the exploration of community product form by music platform has also entered a new stage.

Being a community is always the goal pursued by Internet content products, and the music platform is no exception. Whether it’s Yuncun, which is positioned as "music+social" as soon as it goes online, or platforms such as QQ music, which has been added in the past two years, it is exploring the form of community products.

Objectively speaking, Netease Cloud Music is a leader in exploring the community, and has made some new achievements in recent years.

The innovative modes such as "light social interaction" in this song listening report are actually based on the reference provided by functions such as "listening together": the proper communication and interaction mode between music lovers has been verified to some extent.

Standing at the mixed end of 2022, looking back at the seven years when listening to the song report accompanied us, it really makes people feel sad. In any case, Netease Cloud Music’s annual listening report has indeed become an annual inventory IP with the characteristics of the times.

What is more noteworthy is that music is also playing an increasingly important role in the competitive Internet market and our specific life scenes step by step, which is somewhat gratifying.

* deep pupil business (ID: deep-focus)

Notice of the State Council Municipality on Issuing the Catalogue of Investment Projects Approved by the Government (2016 Edition) (full text)

The State Council on Issuing Government-approved Investment ProjectsNotice of Catalogue (2016 Edition)

Guo Fa [2016] No.72

　　People’s governments of all provinces, autonomous regions and municipalities directly under the Central Government, ministries and commissions and institutions directly under the State Council:

　　In order to implement the Opinions of the Central Committee of the Communist Party of China and the State Council on Deepening the Reform of Investment and Financing System, further intensify the reform of decentralization, combination of decentralization and management, and optimize services, make the market play a decisive role in the allocation of resources, give full play to the role of the government, effectively change the government’s investment management functions, strengthen and improve macro-control, establish the dominant position of enterprises in investment, and stimulate the vitality of market players in expanding reasonable and effective investment and innovation and entrepreneurship, the Catalogue of Investment Projects Approved by the Government (2016 edition) is hereby issued.

　　First, enterprises investing in the construction of fixed assets investment projects in this catalogue shall be submitted to the relevant project approval authorities for approval in accordance with regulations. Enterprises investing in the construction of projects outside this catalogue shall be subject to record management. Institutions, social organizations and other investment projects shall be implemented in accordance with this catalogue.

　　The development projects of crude oil and natural gas (including coalbed methane) shall be decided by the enterprises with mining rights, and reported to the industry management department of the State Council for the record. Relevant enterprises with mining rights should adhere to overall planning in accordance with relevant laws and regulations, rationally develop and utilize resources and avoid disorderly exploitation of resources.

　　2. Laws, administrative regulations and national development plans, industrial policies, total control targets, technical policies, access standards, land use policies, environmental protection policies, sea island policies, credit policies, etc. are the important basis for enterprises to carry out pre-project work, and are the basis for project examination by project approval authorities, land and resources, environmental protection, urban and rural planning, marine management, industry management and other departments and financial institutions.

　　The development and reform department shall, jointly with relevant departments, pay close attention to the preparation and improvement of special plans in related fields, so as to provide a basis for project approval in various regions.

　　The environmental protection department should implement classified management according to the impact of the project on the environment, strictly examine and approve the environmental impact and high environmental risk projects, and strengthen the supervision after the event.

　　Third, we should give full play to the normative and guiding role of development planning, industrial policies and access standards in investment activities. Take development planning as an important means to guide investment direction, stabilize investment operation, standardize project access, optimize project layout, and rationally allocate resources such as funds, land, energy and human resources. Improve the industrial structure adjustment guidance catalogue, foreign investment industry guidance catalogue, etc., to provide basis and guidance for enterprise investment activities. Build a more scientific, perfect and operable industry access standard system, and strengthen market access standards such as land saving, energy saving and water saving, environment, technology and safety. Improve the macro-control policies and measures of the industry and the inter-departmental coordination mechanism, form a joint effort, and promote the orderly development of related industries.

　　4. For projects in industries with serious overcapacity, such as steel, electrolytic aluminum, cement, flat glass and ships, the Guiding Opinions of the State Council on Resolving the Contradiction of Serious Overcapacity (Guo Fa [2013] No.41) shall be strictly implemented, and all localities and departments shall not file new capacity projects in any other name or in any way, and all relevant departments and institutions shall not handle the supply, evaluation and evaluation of land (sea areas and uninhabited islands).

　　For coal mine projects, it is necessary to strictly implement the requirements of "the State Council’s Opinions on Resolving Excess Capacity in the Coal Industry to Realize Development from Difficulties" (Guo Fa [2016] No.7), and in principle stop approving new coal mine projects, technological transformation projects with new capacity and nuclear capacity increase projects within three years from 2016; If it is really necessary to build new coal mines, all reduction and replacement will be implemented.

　　Strictly control the production capacity of new traditional fuel vehicles, and in principle, no new traditional fuel vehicle production enterprises will be approved. Actively guide the healthy and orderly development of new energy vehicles. Newly-built new energy vehicle manufacturers must have key technologies such as power systems and vehicle research and development capabilities, and meet the relevant requirements such as the Management Regulations for Newly-built Pure Electric Passenger Vehicle Enterprises.

　　Five, the project approval authority should improve and perfect the management measures, effectively improve the administrative efficiency, earnestly perform the approval duties, and conduct the review in strict accordance with the requirements of the prescribed authority, procedures and time limit. Relevant departments should closely cooperate with each other, improve management measures accordingly and strengthen the management of investment activities according to law in accordance with the division of responsibilities.

　　Six, according to the principle of who approves who supervises, who is in charge of who supervises, implement the supervision responsibility, pay attention to the local government’s role of supervision nearby, the professional advantages of industry management departments and environmental protection, quality supervision, safety supervision and other departments, as well as the comprehensive supervision function of investment authorities, to achieve coordinated supervision. After the authority for approval and filing of investment projects is decentralized, the regulatory responsibility should be moved down synchronously. Local governments at all levels and their relevant departments should actively explore innovative ways and means of supervision, strengthen supervision after the event, and earnestly assume regulatory responsibilities.

　　Seven, in accordance with the provisions of the project approved by the State Council, approved by the National Development and Reform Commission after the audit report to the State Council. For the projects approved by the investment authorities in the State Council and the State Council, the opinions of the industry management departments in the State Council shall be sought in advance.

　　Eight, approved by the local government projects, the provincial governments can according to the local actual situation, in accordance with the principle of matching the decentralization level and the ability to undertake, the specific division of local governments at all levels of management authority, formulate a unified catalogue of government approved investment projects within their respective administrative areas. The ability of grass-roots government to undertake should be regarded as an important factor in the division of government management authority, and it is not appropriate to simply "put it in the end". For projects involving the major planning and layout of the region and the development and allocation of important resources, we should give full play to the advantages of provincial departments in terms of policy grasp and technical strength, and be approved by provincial governments. In principle, they should not be decentralized to municipal governments, and they should not be decentralized to governments at or below the county level.

　　Nine, to cancel the approval to record the management of the project, the project registration authority should strengthen the development planning, industrial policy and access standards, industry management departments and urban and rural planning, land management, environmental protection, safety supervision and other departments should strengthen the guidance and restraint of the project according to the division of responsibilities.

　　Ten, laws, administrative regulations and the state have special provisions, in accordance with the relevant provisions. The competent department of commerce shall, in accordance with the relevant provisions of the state, examine and record the establishment and change of foreign-invested enterprises and the establishment of enterprises (except financial enterprises) by domestic enterprises abroad.

　　XI. This Catalogue shall be implemented as of the date of promulgation, and the Catalogue of Investment Projects Approved by the Government (2014 edition) shall be invalidated.

　　the State Council

　　December 12, 2016

　　(This piece is publicly released)

Catalogue of Investment Projects Approved by the Government (2016 edition)

　　I. Agricultural water conservancy

　　Agriculture: Projects involving land reclamation are approved by the provincial government.

　　Water conservancy projects: major water conservancy projects involving cross-border rivers and inter-provincial (autonomous regions and municipalities) water resources allocation adjustment are approved by the investment authorities in the State Council, among which reservoir projects with a storage capacity of 1 billion cubic meters or more or involving 10,000 migrants or more are approved by the State Council. Other projects are approved by local governments.

　　Second, energy

　　Hydropower station: projects with a total installed capacity of 500,000 kilowatts and above built on cross-border rivers and inter-provincial (autonomous regions and municipalities) rivers are approved by the investment authorities in the State Council, and projects with a total installed capacity of 3 million kilowatts and above or involving 10,000 immigrants and above are approved by the State Council. Other projects are approved by local governments.

　　Pumped storage power station: approved by the provincial government in accordance with the relevant plans formulated by the state.

　　Thermal power station (including self-provided power station): approved by the provincial government, in which coal-fired and gas-fired thermal power projects should be approved in the construction plan formulated by the state according to the total amount control.

　　Thermal power station (including self-provided power station): approved by the local government, in which the condensing coal-fired thermal power project is approved by the provincial government within the construction plan formulated by the state according to the total amount control.

　　Wind power station: approved by the local government within the scope of the national construction plan and annual development guidance based on total control.

　　Nuclear Power Plant: Approved by the State Council.

　　Power grid projects: 500 kV and above DC projects involving cross-border and inter-provincial (autonomous regions and municipalities) power transmission, 500 kV, 750 kV and 1000 kV AC projects involving cross-border and inter-provincial (autonomous regions and municipalities) power transmission, which are approved by the investment authorities in the State Council, among which 800 kV and above DC projects and 1000 kV AC projects are reported to the State Council for filing; 500 kV and above DC projects and 500 kV, 750 kV and 1000 kV exchange projects that do not involve cross-border and inter-provincial (autonomous regions and municipalities) power transmission shall be approved by the provincial government in accordance with the relevant plans formulated by the state, and the rest shall be approved by the local government in accordance with the relevant plans formulated by the state.

　　Coal mine: coal development projects with an annual production capacity of 1.2 million tons and above in the national planned mining area are approved by the industrial management department of the State Council, among which projects with an annual production capacity of 5 million tons and above are approved by the investment department of the State Council and reported to the State Council for the record; The remaining coal development projects and general coal development projects in the state-planned mining areas are approved by the provincial government. Projects prohibited by the state from construction or included in the scope of elimination and withdrawal shall not be approved.

　　Coal-to-fuel: the coal-to-natural gas project with an annual output of more than 2 billion cubic meters and the coal-to-oil project with an annual output of more than 1 million tons shall be approved by the competent investment department of the State Council.

　　Liquefied petroleum gas receiving and storage facilities (excluding supporting projects of oil and gas fields and refineries): approved by local governments.

　　Receiving, storage and transportation facilities for imported LNG: Newly-built (including expansion in different places) projects are approved by the industrial management department of the State Council, among which newly-built projects with receiving, storage and transportation capacity of 3 million tons or more are approved by the investment department of the State Council and reported to the State Council for filing. The remaining projects are approved by the provincial government.

　　Oil pipeline network (excluding oil field gathering and transportation pipeline network): Cross-border and inter-provincial (autonomous regions and municipalities) trunk pipeline network projects are approved by the competent investment department of the State Council, and cross-border projects are reported to the State Council for filing. Other projects are approved by local governments.

　　Gas pipeline network (excluding oil and gas gathering and transportation pipeline network): Cross-border and inter-provincial (autonomous regions and municipalities) trunk pipeline network projects are approved by the competent investment department of the State Council, and cross-border projects are reported to the State Council for filing. Other projects are approved by local governments.

　　Refining: Newly-built and expanded primary refining projects are approved by the provincial government in accordance with relevant plans approved by the state. Construction of new oil refining and expansion of primary oil refining projects that are not included in the relevant plans approved by the state is prohibited.

　　Denatured fuel ethanol: approved by the provincial government.

　　Third, transportation

　　New (including additional) railways: projects listed in the relevant plans approved by the state, which are mainly funded by China Railway Corporation, shall be decided by themselves and reported to the investment authorities in the State Council for the record, and those invested by other enterprises shall be approved by the provincial government; Local intercity railway projects are approved by the provincial government in accordance with the relevant plans approved by the state and reported to the investment authorities in the State Council for the record; The remaining projects are approved by the provincial government.

　　Highway: The national highway network and national highway network projects are approved by the provincial government in accordance with the relevant plans approved by the state, the local highway projects are approved by the provincial government, and the rest are approved by the local government.

　　Independent highway (railway) bridges and tunnels: Cross-border projects are approved by the investment authorities in the State Council and reported to the State Council for the record. The projects in the relevant planning approved by the state, mainly funded by China Railway Corporation, shall be decided by itself and reported to the investment department of the State Council for the record, and other enterprises shall be approved by the provincial government; The remaining independent railway bridges, tunnels and independent highway bridges and tunnels across the sea area of 100,000-ton and above navigation channels and across rivers (the current situation or planning is the navigation section of Grade I and above) shall be approved by the provincial government, and the projects across the Yangtze River trunk channel shall conform to the relevant plans approved by the state. Other projects are approved by local governments.

　　Special berths for coal, ore and oil and gas: approved by the provincial government according to the relevant plans approved by the state.

　　Container terminal: approved by the provincial government according to the relevant planning approved by the state.

　　Inland navigation: the navigation and power hub projects with a tonnage of 1,000 tons and above in high-grade waterways across provinces (autonomous regions and municipalities) are approved by the provincial government according to the relevant plans approved by the state, and the rest are approved by the local government.

　　Civil aviation: The new transport airport project is approved by the State Council and the Central Military Commission, and the new general airport project and the expansion of the military-civilian airport (except the runway) project are approved by the provincial government.

　　Fourth, the information industry

　　Telecommunications: International communication infrastructure projects are approved by the investment department of the State Council; Domestic trunk transmission networks (including radio and television networks) and other telecommunications infrastructure projects involving information security shall be approved by the industry management department of the State Council.

　　V. Raw materials

　　Development of rare earth, iron ore and non-ferrous mines: approved by the provincial government.

　　Petrochemical: Newly-built ethylene, p-xylene (PX) and diphenylmethane diisocyanate (MDI) projects are approved by the provincial government in accordance with the state-approved petrochemical industry planning and layout plan. Construction of new ethylene, paraxylene (PX) and diphenylmethane diisocyanate (MDI) projects that are not listed in the relevant plans approved by the state is prohibited.

　　Coal chemical industry: Newly-built projects of producing olefins from coal and producing paraxylene (PX) from coal shall be approved by the provincial government in accordance with relevant plans approved by the state. The new coal-to-methanol project with an annual output of more than 1 million tons shall be approved by the provincial government. The rest of the projects are prohibited from construction.

　　Rare earth: Rare earth smelting and separation projects and rare earth deep processing projects are approved by the provincial government.

　　Gold: Mining and mineral processing projects are approved by the provincial government.

　　Six, machinery manufacturing

　　Automobile: It shall be implemented in accordance with the Development Policy of Automobile Industry approved by the State Council. Among them, the new Sino-foreign joint venture car production enterprise project was approved by the State Council; The newly-built pure electric passenger car production enterprise (including the cross-class production of pure electric passenger cars by existing automobile enterprises) project shall be approved by the competent investment department of the State Council; The remaining projects are approved by the provincial government.

　　Seven, light industry

　　Tobacco: The project of cigarette, cellulose diacetate and tow for cigarette is approved by the industry management department of the State Council.

　　Eight, high and new technology

　　Civil aviation and aerospace: the manufacturing of trunk regional aircraft, general-purpose aircraft with 6 tons /9 seats or more and helicopters with 3 tons or more, the manufacturing of civil satellites and the construction of civil remote sensing satellite ground stations shall be approved by the competent investment department of the State Council; General-purpose aircraft with 6 tons /9 seats or less and helicopters with 3 tons or less are approved by the provincial government.

　　Nine, urban construction

　　Urban rapid rail transit project: approved by the provincial government in accordance with the relevant plans approved by the state.

　　Urban roads, bridges and tunnels: projects that cross the sea areas of 100,000-ton and above waterways and rivers (the current situation or planning is the first-class and above navigation section) are approved by the provincial government.

　　Other urban construction projects: the local government shall decide for approval or filing.

　　X. Social undertakings

　　Theme Park: Extra-large projects are approved by the State Council, and other projects are approved by provincial governments.

　　Tourism: tourism development and resource protection projects with a total investment of 50 million yuan or more in national scenic spots, national nature reserves and national key cultural relics protection units, and projects with a total investment of 30 million yuan or more in world natural and cultural heritage protection areas shall be approved by the provincial government.

　　Other social undertakings: according to the affiliation, the industry management departments and local governments in the State Council will decide for approval or filing.

　　XI. Foreign investment

　　Restricted projects with a total investment (including capital increase) of US$ 300 million or more in the Catalogue for the Guidance of Foreign Investment Industries shall be approved by the investment authorities in the State Council, among which projects with a total investment (including capital increase) of US$ 2 billion or more shall be reported to the State Council for the record. Restricted projects with a total investment (including capital increase) of less than $300 million in the Catalogue of Industries for Foreign Investment shall be approved by the provincial government.

　　Items listed in Articles 1 to 10 of this catalogue other than those specified in the preceding paragraph shall be implemented in accordance with Articles 1 to 10 of this catalogue.

　　XII. Overseas investment

　　Projects involving sensitive countries and regions and sensitive industries shall be approved by the competent investment department of the State Council.

　　Projects invested by centrally managed enterprises and projects invested by local enterprises with a value of US$ 300 million or more other than those specified in the preceding paragraph shall be reported to the investment authorities in the State Council for the record.

Firmly grasp the initiative in the struggle against historical nihilism

　　A nation’s view of history is the spiritual basis for a nation to settle down. History is not allowed to be changed at will, but the sky of history is often shrouded in fog, and the haze of historical nihilism will appear from time to time.

　　In recent years, historical nihilism is often manifested in distorting the revolutionary history of modern China, the history of the Party and the history of People’s Republic of China (PRC) in the name of so-called "re-evaluation". If the revolution is denied, propaganda against imperialism and feudalism will only play a destructive role, and only the bourgeois "enlightenment" will have constructive significance; China’s choice of the socialist development direction since the May 4th Movement is regarded as leaving the so-called "mainstream of modern civilization" and "going astray". Declare that China, which is backward in economy and culture, is not qualified to engage in socialism; Describe the history of the party as a continuation of a series of mistakes. Recently, some people even published articles in the media, claiming that the Opium War brought modern civilization to China. This kind of remarks that ignore history and confuse thoughts are all variants of historical nihilism.

　　对此，我们只能主动识别，保持警惕，时刻保持历史清醒。灭人之国，必先去其史；毁人之权，也必先去其史。反对历史虚无主义是一场严肃的政治斗争，最高领袖总书记指出：“国内外敌对势力往往就是拿中国革命史、新中国历史来做文章，竭尽攻击、丑化、污蔑之能事，根本目的就是要搞乱人心，煽动推翻中国共产党的领导和我国社会主义制度。”我们要时刻保持历史清醒，以高度的政治敏感对历史虚无主义保持警惕，练就火眼金睛，主动识别学术问题与政治问题，做到既让历史虚无主义无所遁形，又有效防止反对历史虚无主义斗争泛化。

　　学深悟透唯物史观，才能保持对历史虚无主义的免疫力。历史虚无主义从根本上说就是历史唯心主义。在反对历史虚无主义的斗争中，我们要不断强健自身肌体，就必须坚持用唯物史观来认识和记述历史，坚持马克思主义的历史观和方法论，把历史结论建立在翔实准确的史料支撑和深入细致的研究分析基础上。恩格斯说：“正像达尔文发现有机界的发展规律一样，马克思发现了人类历史的发展规律。”只有不断学习、领悟、发展马克思主义，才能在科学地认识历史的同时，靶向精准、有力批驳历史虚无主义。

　　反对历史虚无主义，必须坚定文化自信。以史为鉴，可以知兴替。我们要正确认识中华民族5000多年文明史，中国人民近代以来170多年斗争史，中国共产党90多年奋斗史，中华人民共和国60多年发展史，改革开放40年探索史，从中汲取历史的精华和力量，把自己的思想根脉深深扎根进960多万平方公里的广袤土地上，吸吮中华民族漫长奋斗积累的文化养分，将共产主义远大理想和中国特色社会主义共同理想内化于心，成为强大信念和自觉自为的行为，坚定文化自信，在奋进新时代的征程中，高高擎起中国特色社会主义的伟大旗帜。如此，我们就必然能做到“千磨万击还坚劲，任尔东西南北风”，任凭包括历史虚无主义在内的错误思潮“风吹雨打”，我们自能“岿然不动”。

　　（作者：王云长，系浙江省中国特色社会主义理论体系研究中心浙江师范大学基地研究员）

In 2024, the box office of new films on New Year’s Day exceeded 1.4 billion, setting a new box office record for the same period.


1905 movie network news According to the data of Lighthouse Professional Edition, as of 15: 00 on January 1, the total box office (including screening and pre-sale) of new films on New Year’s Day in 2024 exceeded 1.4 billion, ranking the top three in the box office list.

In the warm winter of 2022, the dark horse drama "Twinkle, Twinkle, Bright Stars" became an online explosion. In the winter of 2024, the film version of the return of the original class once again continued this romance and sweetness. Before the film was released, it aroused high expectations, and the pre-sale box office exceeded 370 million. After the film was released, it also made great strides, with a cumulative box office of 592 million yuan in just three days.

The film is directed by, directed by, starring, starring, starring, special starring, and friendship starring. The film version not only has the aesthetic and extreme sweet and abusive love elements, but also adds wonderful stories with fantasy elements. Did you shout out the secret word of love in the cinema, "Zhang Wansen, it’s snowing!"

The film "The Annual Meeting Can’t Stop", which most resonates with social animals in this New Year, temporarily ranked second with a box office of 276 million yuan. Comedians from different fields are gathered in the film. They are full of novelty and chemical reaction when they see the "stalk" in the joint, and what is more rare is the unity of style.

The film’s profound insight into the modern workplace and bitter irony not only set off intensive jokes, but also made the audience empathize with each other by accurately capturing the current social emotions. After the release, the word-of-mouth continued to ferment. At present, the score of Douban is as high as 8.1.

The Hong Kong film "Stealth", which has assembled people such as,,, and, temporarily ranked third with a small box office gap of 205 million yuan. The film tells the story of the police trying their best to bring drug dealers to justice.

In the film, Andy Lau plays the villain again after a lapse of 16 years. He sweeps away the big-screen image of personable and brilliant temperament in the past, and makes a breakthrough in playing an elusive mysterious lawyer and a ruthless and deadly drug Lord Lin Zhen ‘an. The emotional line between him and Liu Yase in the film has been rated as a warm touch in the film by the audience, and it has been labeled as "Love Brain".

Another star-studded movie took 182 million box office, ranking fourth in the total box office list. After the series, Andy Lau and the double-winner joined hands again, but the box office feedback was not ideal. With a dusty history, the film shows people the process of how people created business myths and all went up in smoke.

The film directed by ranked fifth with a box office of 50.055 million yuan. The story of this part revolves around the proposition of AI and love. The original team, the classic characters,,, and so on have all returned, and new characters have been added in the new work.

In addition to the 2024 New Year’s Day movies, box office news came one after another. By 12: 00 on January 1st, the total box office of New Year’s Day in 2024 (December 30th-January 1st) exceeded 1.315 billion yuan, surpassing the box office achievement of 1.303 billion yuan in 2021, setting a new record for the highest box office in China film history.

Taizhou Xingtu Zhuifeng’s price cuts hit at the end of the year, and the latest offer is 102,900! Not to be missed

[car home Taizhou Preferential Promotion Channel] is currently offering a substantial discount, with a maximum discount range of 7,000 yuan. Consumers in Taizhou are now buying stars to chase the wind, and the lowest starting price is only 102,900 yuan. In order to get a higher discount, please click "Check the car price" in the quotation form.

泰州星途追风年末降价来袭，最新报价10.29万！不容错过

The design of chasing the wind by the stars shows a modern and dynamic style. The front face adopts a fashionable family-style design, the air intake grille adopts a polygonal design, and with a sharp headlight group, the whole front face looks more three-dimensional and stylish. The body lines are smooth and the overall shape is dynamic.

泰州星途追风年末降价来袭，最新报价10.29万！不容错过

The body size of Starway Chasing Wind is 4538*1848*1699mm, the wheelbase is 2670mm, and the front and rear wheel tracks are 1570 mm.. The body lines are smooth, and the side shapes are simple and modern. The rim is made of 18-inch aluminum alloy and matched with 225/60 R18 tires, which shows a dynamic and steady style.

泰州星途追风年末降价来袭，最新报价10.29万！不容错过

The interior style of Starway Chasing the Wind is simple and full of scientific sense. The center console adopts a 12.3-inch high-definition touch screen, which integrates the functions of multimedia system, navigation, telephone, air conditioning and skylight control, and supports intelligent voice recognition control, which greatly facilitates the driver’s operation. The steering wheel is made of leather, which feels comfortable and supports manual adjustment up and down and back and forth to meet the needs of different drivers. There are two USB/Type-C interfaces in the front row and the back row, which is convenient for passengers to charge electronic equipment. The seat is made of imitation leather. The main driver’s seat has the functions of front and rear adjustment, backrest adjustment and two-way height adjustment, while the co-pilot’s seat has the functions of front and rear adjustment and backrest adjustment, which improves the riding comfort. The rear seats support proportional reclining, which increases the flexibility of luggage compartment space.

泰州星途追风年末降价来袭，最新报价10.29万！不容错过

Starway Chasing Wind is equipped with a 1.5T turbocharged engine with a maximum power of 156 HP and a maximum torque of 230 Nm. The engine adopts in-line four-cylinder design with abundant power output. Matching it is CVT continuously variable transmission, which provides a smooth driving experience.

The owner of car home mentioned that the design of Star Road Chasing Wind is very atmospheric, with smooth body lines and spacious space, but the width of the car may not be good for parking, so it may take time for a novice to adapt to this car. On the whole, he is very satisfied with this car.

New energy pure electric van SAIC MAXUS Dana V1 and Foton Smart Smurf E7 who is stronger？

　　In today’s increasingly mainstream of new energy technologies, the logistics and transportation industry is actively embracing green changes and seeking efficient and low-energy new energy logistics vehicles. However, the diverse options on the market often make practitioners hesitant to find the best partner. This article will take two outstanding representatives of new energy logistics vehicles – SAIC MAXUS Dana V1 and Foton Smart Smurf E7 as examples to see which car is the more worthwhile new energy pure electric van to help you make a better choice.

　　It isThe king of efficiency in the logistics battlefield

　　The core of competition in the logistics industry lies in efficiency. Therefore, strong power and large capacity are the top considerations when selecting a car.

　　Power to run fast! With its 90kW powerful electric drive system, the Dana V1 has a peak power of 90kW, a peak torque of 190N · m, and a maximum speed of 100km/h, outperforming the Smurf E7’s 70kW peak power and 180N · m torque performance, demonstrating a superior power advantage.

Dana V1

Fukuda Smart Smurf E7

　　The maximum cargo volume of the Dana V1 reaches 8.4m 3, which is more spacious than the 7.5m 3 of the Futian Smart Smurf E7. Coupled with its utilization rate of up to 98% and the ultra-low floor design of 520mm, the straight cargo box is baffled, which not only improves the loading capacity, but also greatly facilitates the loading and unloading of goods, providing a more intimate experience for logistics workers.

　　It charges fast.Efficiency is upgraded again

　　In terms of charging efficiency, the Dana V1 once again leads the pack, charging from 20% to 80% in just 30 minutes, faster than the 42 minutes required for the Foton Smurf E7, ensuring the continuity of logistics and transportation, effectively relieving charging waiting and battery life anxiety.

　　At the same time, Dana V1 not only makes great efforts in practicality, but also leads the trend of intelligence. Its innovative "non-sensory" interaction design realizes intelligent operations such as automatic unlocking, sitting and starting. At the same time, the AI assistant "Xiaotong Student" integrated with full-scene voice control can complete tasks such as navigation and music playback with only voice commands, taking into account safety and convenience, and redefines the intelligent standard of new energy logistics vehicles.

　　In comparison, the Foton Smart Smurf E7 is still stuck in traditional configurations, such as MP3 players, central locks, etc., which fail to fully meet the needs of modern drivers for intelligent comfort.

　　So in this electric van PK, the Dana V1 has demonstrated its status as a leader in the field of new energy logistics vehicles with its outstanding performance in power, load, charging efficiency and intelligent configuration. In addition, there are multiple benefits such as a financial discount of up to 4,000 yuan or a subsidy for the replacement of old cars (choose one of the two). If you are interested in the Dana V1, you can log in to the official website to learn more.

　　　　　 (This article is for corporate promotion information and is for user reference only.)

Tony Leung and Carina Lau made her first public appearance after marriage, accompanied by Lin Qingxia (Photos)


Tony Leung (left) and Carina Lau bid farewell to everyone before entering the cabin.



Tony Leung (from right) and Carina Lau made their first appearance in Bhutan after marriage, facing the camera generously with Brigitte Lin.



Carina Lau expressed her support for Li Yapeng.


　　China News Service, July 25. Tony Leung (Wei Zai) and Carina Lau flew out of Bhutan on a private plane early yesterday morning. This was their first public appearance after marriage, and they flew to New Delhi, India at 11:30 am. The couple was so pretty that even if the media rushed into the VIP room of the Bhutan airport to take pictures, they were not driven away. Lin Qingxia, who was traveling with her, was asked if she wanted to be a "light bulb"? She laughed but did not answer.


　　According to Taiwan’s United Daily News, after a day of rest, Tony Leung and Carina Lau appeared radiant. Carina Lau did not wear her 12-carat pear-shaped diamond wedding ring. They chatted and laughed with Lin Qingxia in the VIP room. Even if the reporters went in to take close photos, they did not annoy them. They were very polite and put their hands together to greet everyone.


　　When the media repeatedly asked Wei Zai, Wei Zai played the wife card: "Ask my wife." Asked about Li Yapeng’s beating up of reporters at Bangkok airport, Liu Jialing immediately expressed her solidarity: "Li Yapeng is a family man, and we support him."


　　Before Wei Zai entered the boarding gate, he smiled and waved to the media and bowed: "Thank you for your hard work, SF Wind!"


　　After arriving in New Delhi, Wei Zai, Carina Lau, and Qingxia Lin had agreed to take a taxi to pick them up, but due to formalities, they had to wait for a while before driving to the hotel in the city. Once they checked into the hotel for dinner, they couldn’t wait to go to the street to sweep the goods.

Editor in charge: Lu Wei