Overseas media widely forwarded "International Sharp Review: Russia" Looking East "and Seeing Three" Beautiful Scenes "

  CCTV News:On September 11th, International Sharp Review, the general radio and television station of China, broadcasted an article entitled "Russia’s" Looking East "and Seeing Three Great Scenery", which was reprinted or quoted by many overseas media.

  From September 11th to 13th, Georgia’s 1TV and Vietnam’s National TV Channel 1 quoted relevant contents or materials. Siberian News Network, Czech Today Information Network, Buchrest China Review facebook account of Tananana Radio Station in Romania, website of Industry News in Kazakhstan, website of Turkish Economic Watch, website of Daily Morning News in India, Iranian People’s Road News Network, facebook account of DZME Radio Station in Philippines, website of Nepal Urban FM Station, Facebook account of Myanmar opinion leader media, facebook account of French LCF Radio, German website of European Times, website of Radio Spain International, website and facebook account of Rainbow FM in Lisbon, Portugal, Iberian APP, website and facebook account of Brazil’s Rio headlines, website and facebook account of Brazil’s Sao Paulo World Broadcasting Station, Nigeria’s Leader website, Tanzania’s Africa Media Group website facebook account, Los Angeles Post website, Nordic Times website, Portuguese New Newspaper APP(facebook account, twitter account), Chinese headline APP, European Union Chinese website, China-Europe United Times website, West Africa online website, Africa Times website, Japanese Chinese business website, and Xizhong website. On September 12th, Hong Kong Ta Kung Pao and Hong Kong Business Daily also published and forwarded this article.主要报道内容如下:

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  第四届东方经济论坛9月11日至13日在俄罗斯远东城市符拉迪沃斯托克举行。中国国家主席习近平和多位东北亚国家元首或政府首脑,以及超过60个国家的代表团出席,规格之高、规模之大,均创下论坛历史之最。

  东方经济论坛是俄罗斯总统普京2015年亲自倡议举办的,是当时俄罗斯在与美欧关系迅速恶化背景下做出的多个“向东看”的决定之一。俄罗斯“向东看”的政策,曾一度被西方视为缓解制裁压力而做出的“暂时性的策略调整”,甚至有媒体质疑“向东看,俄罗斯就能看到自己的未来吗?”然而,随着近几年俄罗斯向东步伐的加快,“向东看”越来越呈现出俄罗斯长期国家战略的特征。

  向东看,俄罗斯看到中俄合作创造巨大红利。作为俄罗斯第一大贸易伙伴国,中国从2015年首届东方经济论坛开始,每年都派出大规模、高规格代表团出席。此次习近平主席出席论坛,是中国国家元首在东方经济论坛上的首次亮相,这充分展现出中方愿意参与东方合作的积极姿态。

  中俄双方在远东地区的合作,正在两国全面战略协作伙伴关系中扮演越来越重要的角色。中国目前是俄在远东地区的第一大贸易伙伴和第一大外资来源国,投资总额约40亿美元,已有26家中资企业入驻俄罗斯为远东发展专门设立的“超前发展区”和符拉迪沃斯托克自由港。同时,双方还在共同推进修建横跨中俄界河——黑龙江的铁路、公路大桥项目,以全面提升两国边境地区基础设施的互联互通水平。毫无疑问,深化中俄合作,是俄罗斯“向东看”的重要内容。

  向东看,俄罗斯看到东北亚区域合作的拓展空间。东方经济论坛已成功举办三届,在东北亚地区产生了积极影响,去年论坛期间共签订了总额为2.5万亿卢布的协议,今年这一数字有望突破3.5万亿。

  东北亚区域资源丰富、市场成熟、潜力巨大。出席本届东方经济论坛的东北亚国家领导人,除习近平主席外,还有蒙古国总统巴特图勒嘎、日本首相安倍晋三、韩国总理李洛渊等,这充分显示出区域内各国加强合作的意愿。当前,东北亚地区多个双边或多边合作框架正在逐步形成:中俄蒙经济走廊建设已初见成效,中日韩自由贸易协定谈判正在加速进行,韩朝有望正式开展经济合作。与此同时,域内各国对“一带一路”的积极态度也逐渐凝聚为共识。在这样的背景下,习近平主席与东北亚多国领导人共同出席东方经济论坛,有望促进区域合作进一步提升,进一步推动“一带一路”在东北亚地区走深走实。这对于俄罗斯振兴远东,也无疑是重大利好。

  向东看,俄罗斯看到亚太经济“快车”带来发展机遇。远东地区拥有极其丰富的自然资源,被誉为“世界上唯一未被深挖的宝库”。然而这个“宝库”由于经济增长缓慢、基础设施落后、人口流失严重等问题,至今未能体现出应有的战略意义和经济价值。基于东西部平衡发展的战略考量,俄罗斯近年来将远东开发提升到国家战略的高度。

  Behind this strategy is the rapid economic growth in Asia-Pacific region. As one of the most active and fastest growing regions in the global economy, the Asia-Pacific economic circle is a huge consumer market and a potential source of investment for Russia. Developing the Far East is not only an internal demand of local economic and social development, but also a way to let Russia catch the "express train" of rapid economic development in the Asia-Pacific region. According to Russian customs statistics, the proportion of trade between Russia and APEC member countries in Russia’s foreign trade has increased from 20% 10 years ago to 31% in 2017. According to a poll in 2016, 70% of Russians believe that cooperation with countries in the Asia-Pacific region "has more advantages than disadvantages".

  It should be pointed out that Russia’s "looking eastward" is not the product of western sanctions against Russia, but the deterioration of relations with the West has accelerated the pace of Russia’s eastward advancement to some extent. Even so, Europe is still an important trading partner of Russia. In 2017, the trade volume between Russia and EU countries still accounted for more than 40% of Russia’s foreign trade. Therefore, "looking east" does not mean that Russia will give up the West, especially its cooperation with Europe. Russia, like the double-headed eagle on its national emblem, will always focus on both the east and the west, but from the development trend, looking eastward, the vision is wider and the scenery is more beautiful.

  Many overseas media quoted and forwarded "International Sharp Review" articles:

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  On September 12, 2018, Georgia 1TV quoted relevant content or material.

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  On September 12, 2018, Vietnam National Television Channel 1 quoted relevant content or material.

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  Siberian News Network forwarded on September 11, 2018

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  The Facebook account of Bucharest China Review on Tananana Radio in Romania was forwarded on September 11, 2018.

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  India’s "Daily Morning News" website was forwarded on September 11, 2018

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  Iranian People’s Road News Network forwarded on September 11, 2018

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  Facebook account of Myanmar opinion leader media was forwarded on September 12, 2018.

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  The Los Angeles Post website was forwarded on September 11, 2018.

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  The website of Europe-China United Times was forwarded on September 12, 2018.

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  Hong Kong Ta Kung Pao was published on September 12, 2018

Ministry of Finance: In January, the national lottery sales reached 27.21 billion yuan, down 43.3% year-on-year.

  BEIJING, March 4 (Xinhua) The website of the Ministry of Finance today announced the national lottery sales in January 2020. Data show that in January, the national lottery sales totaled 27.210 billion yuan, a decrease of 20.745 billion yuan or 43.3% compared with the same period of last year. Compared with the same period of last year, the sales volume of lottery tickets in 31 provinces all declined.

Data Map: People buy lottery tickets. China News Agency issued Wei Liang photo

Data Map: People buy lottery tickets. China News Agency issued Wei Liang photo

  Data show that in January, the national lottery sales totaled 27.210 billion yuan, a decrease of 20.745 billion yuan or 43.3% compared with the same period of last year. Among them, the sales of welfare lottery institutions was 12.89 billion yuan, a year-on-year decrease of 8.328 billion yuan or 39.3%. The sales of sports lottery institutions reached 14.32 billion yuan, a year-on-year decrease of 12.416 billion yuan or 46.4%. The year-on-year decline in lottery sales in January was mainly due to the fact that the lottery was closed during the Spring Festival, and the policy impact of the decline in lottery sales caused by the adjustment of some game rules continued to appear. In January 2019, due to the influence of the Asian Cup, the sales of sports lottery quiz lottery games were large, and the base was high in the same period last year.

Image source: Ministry of Finance website

Image source: Ministry of Finance website

  In terms of sales of different types of lottery tickets, in January, the sales of lottery digital lottery tickets reached 14.969 billion yuan, a year-on-year decrease of 9.918 billion yuan or 39.9%. The sales of quiz lottery tickets was 6.804 billion yuan, a year-on-year decrease of 9.610 billion yuan or 58.5%. The sales of instant lottery tickets reached 2.777 billion yuan, up 593 million yuan or 27.1% year-on-year; The sales of video lottery tickets was 2.65 billion yuan, a year-on-year decrease of 1.809 billion yuan or 40.6%. The sales of Keno lottery tickets was RMB 10 million, a year-on-year decrease of RMB 01 million or 7.8%. In January, the lottery sales of digital lottery, quiz lottery, instant lottery, video lottery and Keno lottery accounted for 54.9%, 25.0%, 10.2%, 9.8% and 0.1% of the total lottery sales respectively.

Image source: Ministry of Finance website

Image source: Ministry of Finance website

  In terms of lottery sales by region, in January, compared with the same period of last year, the lottery sales in 31 provinces all decreased, among which Jiangsu, Guangdong, Shandong, Zhejiang and Henan decreased more, with a year-on-year decrease of 1.937 billion yuan, 1.929 billion yuan, 1.808 billion yuan, 1.454 billion yuan and 1.166 billion yuan respectively.

  The Ministry of Finance said that financial departments at all levels and lottery agencies at all levels should conscientiously do a good job in lottery issuance and sales during epidemic prevention and control, further strengthen supervision, actively create a good external environment, maintain normal market order, and promote the healthy development of lottery.

Overseas investors increase the allocation of China stock market-international institutions cast a "vote of confidence" in China market.

  Recently, a number of international investment institutions, including Morgan Stanley and Goldman Sachs, have been "singing more" on the China stock market, and many institutions have even taken out "real money and silver" to buy more China assets.

  Experts said that with the implementation of a series of steady growth measures in China and the accelerated optimization of epidemic prevention and control measures, the expectation of China’s economic stabilization and rebound has become clearer, attracting international institutions to re-examine the allocation value of China’s assets. In the future, under the background of China’s deepening the high-level institutional opening-up of the capital market, the efforts of international institutions to "buy in buy buy" are worth looking forward to.

  Institutional upward adjustment expectations

  Recently, a number of overseas investment institutions have increased their allocation to the China stock market.

  On December 4th, Morgan Stanley upgraded the China stock market from "standard" to "over-allocation", and it is predicted that the MSCI China Index will rise by 14% by the end of 2023. Wang Ying, chief equity strategist of Morgan Stanley China, said that the evaluation framework shows that the prevention and control measures of China epidemic are continuously optimized, the real estate market is stabilized, and the regulatory adjustment is in the final stage, so the stock risk premium may be improved, so the target price for the entire China market is raised, and there is a greater chance of revaluation by 2023.

  Coincidentally, on November 30, Goldman Sachs also said that it would also give a proposal of "high allocation" for A-share investment in 2023, and it is expected that the valuation of A-shares will rebound significantly. Liu Jinjin, chief China equity strategist of Goldman Sachs, said that under the expectation that the macro-control is intensified and the GDP growth rate is expected to pick up, we are optimistic about the performance of China stocks listed at home and abroad.

  Bank of America’s strategy team believes that China’s domestic stocks are bound to rise due to the excess savings of China residents and the continuous optimization of epidemic prevention policies. Rui Dalio, the founder of Bridgewater, believes that some valuable assets can be found in the China market at present. China is the second largest economy in the world, and investors can improve their diversification by investing in China.

  The support of international institutions is not groundless. Recently, the overseas listed China ETF, China Stock Exchange and offshore RMB exchange rate all ushered in a wave of solid rise, which enhanced the confidence of foreign institutions to invest in China. For example, since November, the net value of iShares MSCI China ETF with a scale of over $7 billion has increased by over 30%; NASDAQ Jinlong China Index rose by more than 40% in November, the largest monthly increase since records began in 2003. The RMB exchange rate has also recently gone out of a strong upward trend. On the morning of December 5, the offshore RMB exchange rate against the US dollar rose to 6.9813, the highest since mid-September.

  "At present, some major economies continue to tighten monetary policy, the risk of economic recession has intensified, and market return expectations have weakened. In contrast, China has a stable economic development and clear investment logic. " Li Zhan, chief economist of China Merchants Fund Research Department, analyzed that China’s economy is changing from high-speed growth to high-quality development, and there are a lot of investment opportunities in the process of industrial upgrading and consumption upgrading in various industries. At the same time, China recovered quickly from the impact of the epidemic, and its economy rebounded significantly in the third quarter, and its position in the global industrial chain was rising day by day. In addition, China’s financial opening to the outside world has been continuously promoted, and the channels for foreign investors to participate in the domestic financial market have been continuously optimized, attracting the attention of more and more international investors.

  The attractiveness of A shares has increased.

  In addition to high-profile "singing more" China assets, foreign investors also took out "real money and silver" and continued to substantially increase their positions in A shares. As of December 6, the net purchase of northbound funds in 30 days exceeded 75 billion yuan, and the net purchase in the past 10 days reached 42.8 billion yuan.

  Looking forward to 2023, the market expects that the pace of foreign investment "buying in buy buy" will continue to accelerate. "In 2022, nearly 70% of the financing amount in the A-share market comes from science and technology innovation board and the Growth Enterprise Market, which fully reflects the support of the capital market for technological innovation enterprises and emerging industries." Sun Jin, a partner of PricewaterhouseCoopers China Comprehensive Business Services Department, said that in 2023, with the steady progress of the comprehensive registration system reform and the introduction of more measures to support scientific and technological innovation, the international attractiveness of the A-share market will be further enhanced.

  As for the investment industry, the strategy team of Goldman Sachs believes that with the implementation of policies and measures to stabilize growth and the continuous optimization of epidemic prevention and control measures, the unemployment rate in China will drop, labor income will improve, consumer confidence will be restored, and consumer services, medical equipment and service sectors will rebound strongly, especially in tourism, catering, entertainment and aviation industries.

  "Next, the geopolitical situation will enter a relatively calm stage, and the equity cost and equity risk premium will gradually decline, which will help investors reinvest in the China stock market. The consumer sector is the beneficiary of economic opening up. We further increase our exposure to this sector and continue to suggest increasing the allocation of offshore China stocks. " Wang Ying said.

  In order to better attract foreign investment into the China market, Tian Lihui, president of the Institute of Financial Development of Nankai University, believes that it is necessary to persist in promoting the high-level institutional opening-up of the capital market and make overall plans for development and security. It is necessary to continue to expand the interconnection quota, continuously increase the variety of international products, gradually liberalize the restrictions on foreign-funded shares of financial institutions, and continue to promote the internationalization of the RMB. At the same time, the capital market should be opened to the outside world with gates, there should be room for trading rules, and market supervision should be real-time and prudent to prevent foreign hot money speculation and prevent the spread of foreign financial risks.

  Fang Xinghai, vice chairman of China Securities Regulatory Commission, also said recently that high-quality overseas capital market institutions are welcome to invest and exhibit in China. In the future, we will further improve the institutional framework for opening up the capital market, accelerate the implementation of various opening-up measures, and attract and gather more outstanding international institutions and talents to participate in China’s capital market. We will continue to improve relevant institutional arrangements, further facilitate cross-border investment by domestic and foreign investors, and better support cross-border financing development of enterprises.

  Competing for exhibition industry in China

  Since the beginning of this year, the policy dividends to further improve the convenience of foreign investment in China’s assets have been released intensively, giving foreign institutions a "reassurance" to enter the China market.

  On April 26th, the CSRC issued the Opinions on Accelerating the High-quality Development of Public Offering of Fund Industry, proposing to support high-quality overseas financial institutions with long-term investment will to set up fund management companies or expand the shareholding ratio. On November 18th, the People’s Bank of China and the foreign exchange bureau jointly issued the Regulations on Fund Management of Foreign Institutional Investors’ Investment in China Bond Market, which improved and clarified the requirements for fund management of foreign institutional investors’ investment in China Bond Market.

  The convenience of foreign-funded institutions’ exhibition industry in China has been continuously improved, and the business scope and regulatory requirements have achieved national treatment. At present, more than 10 foreign-controlled or wholly-owned securities fund futures companies, such as JPMorgan Chase, Goldman Sachs, Nomura and UBS, have been successively approved, and foreign banks such as Standard Chartered Bank have obtained fund custody qualifications in subsidiaries in China. Foreign private equity funds such as Qiaoshui and BlackRock have successively set up 38 wholly-owned subsidiaries.

  On November 25th, Lubomai Fund announced that it had obtained the Public Offering of Fund business license issued by China Securities Regulatory Commission, becoming the second wholly foreign-owned fund management company newly established in China to conduct Public Offering of Fund business. Lubomai Fund said that the continuous opening of the financial market and the increasingly perfect business environment ruled by law have further enhanced Lubomai’s confidence and hope to further integrate into the development of China’s capital market in the future.

  A number of foreign-funded institutions have started to exhibit in China. At the end of October, ICBC Wealth Management of Goldman Sachs, which was approved to open in June this year, launched the first wealth management product "Shengxin Junzhi Private Bank Enjoy Quantitative Equity Wealth Management Product Phase 1", with a maximum fundraising scale of 5 billion copies. Goldman Sachs ICBC Wealth Management previously said that after the deep correction in the previous period, the value of A shares is becoming prominent, and there is a large room for long-term holding.

  As the first wholly foreign-owned public offering, BlackRock Fund has issued three equity funds and one "fixed income+"fund since it was approved in June 2021, and its products are diversified. Lu Wenjie, investment director of BlackRock Fund, said that A-shares are a market with great breadth and depth, wide investment scope, many related target companies and good liquidity. With the continuous strengthening of China’s opening to the outside world, it is believed that the integration of the global market and the China market will be a long-term trend.

  "More outstanding international institutions entering the A-share market are investing in China’s economic growth prospects and the profitability of China enterprises ‘ A vote of confidence ’ Being able to form a healthy competitive interaction with domestic institutions is conducive to expanding the breadth and depth of China’s capital market, and is also conducive to the continuous improvement of service capabilities of related industries and helping China’s economic development. " Tian Lihui said.

Domestic beauty cosmetics have accelerated their rise, and what will sustain their development in the future?

Chao news client reporter Liu Yixin

In 2023, the smoke of double 11’s war has gradually dispersed. However, this big promotion has changed the face of the beauty industry and re-defined: the domestic beauty leader topped the Tmall beauty and skin care list for the first time in the past six years; Competition in the industry has intensified, and scientific and technological strength has become an important starting point for major domestic brands to break through. The high-quality development of China Beauty Town has attracted the attention of the industry. Recently, at the 7th China Cosmetics Industry Leaders Summit held in the town, technology and innovation became a hot word.

The high-quality development road of China Beauty Town has attracted the attention of the industry. Photography He Weiwei

The beauty industry has ushered in a new pattern.Domestic brands accelerate their rise.

Although the GMV of double 11’s beauty category was only 78.6 billion yuan in 2023, and the data declined, the leading brands of domestic beauty products still performed strongly and made a qualitative breakthrough, which led to a brand-new pattern in the beauty industry.

In 2023, double 11 Tmall’s TOP20 Brand List of Beauty and Skin Care showed that Polaiya ranked first with GMV of 2.219 billion yuan, L ‘Oré al ranked second with GMV of 2.003 billion yuan, Lancome ranked third with GMV of 1.836 billion yuan, Estee Lauder ranked fourth with GMV of 1.566 billion yuan, and Winona ranked fifth with GMV of 1.286 billion yuan.

First of all, from the list, Polaiya advanced four places, becoming the first place, Winona ranked fifth, and entered the top five for the first time. Nature Hall advanced six places, ranking 13th, and Kerfumei, which did not enter the TOP20 in 2022, ranked 17th this time.

For consumers, ranking first or last is not important, but it has unusual significance for brands and domestic beauty cosmetics, which indicates that under the new beauty pattern, domestic brands have ushered in a new development stage.

Tang Xiujie, an analyst in the beauty and nursing industry of Zheshang Securities, believes that the results of this year’s double 11 promotion show that international brands have weakened, especially Japanese and Korean brands have fallen off the list, while domestic brands have accelerated their rise.

Looking back on the e-commerce promotion in recent years, before 2015, because international brands did not pay attention to online sales, the e-commerce platform was dominated by domestic products. However, since 2016, major international brands have successively settled in the Tmall platform and made efforts. After that, domestic brands gradually lost their dominance in the e-commerce platform. Especially since 2018, domestic brands have been at a disadvantage in e-commerce sales. For example, in Tmall double 11 from 2018 to 2022, the top three or even the top four in the beauty list are international brands.

Proya Hou Juncheng: Technological innovation leads the high-quality development of domestic products.

As the leader of domestic beauty products, Polaiya’s rise and breakthrough has become the industry benchmark.

At the China Cosmetics Industry Leaders Summit, Hou Jun, Chairman of Polaiya (603605.SH), told the story of how cosmetics enterprises can achieve scientific and technological innovation and quality development based on the company’s 20-year practice.

In the first three quarters of this year, Polaiya Company achieved a total revenue of 5.249 billion yuan. This is a milestone for the company. For the first time, Polaiya has become the largest cosmetics listed company in China in terms of revenue. During the just-concluded "Double Eleven" period, Polaiya brand won the beauty category of Tmall platform and Tik Tok platform, which not only broke the best record of Polaiya brand, but also created a new history of cosmetics enterprises in China. "This is consumers’ full affirmation of Polaiya." Hou juncheng said.

"In the past few years, we have continuously increased investment in scientific research, introduced a number of advanced R&D equipment and talents at home and abroad, and established close cooperative relations with well-known raw material suppliers, scientific research institutions and universities at home and abroad, and are at the forefront of scientific research and innovation of domestic cosmetics enterprises." Hou Jun shared some specific practices of the company in scientific and technological innovation with other big coffee companies.

At the recent 20th anniversary strategy conference, Polaiya Company also disclosed the situation of Shanghai R&D Center and Hangzhou Longwu R&D Center for the first time, showing the company’s scientific and technological strength to the public in an all-round and three-dimensional way. Obviously, the R&D Innovation Center and the International Academy of Sciences have become the innovation engines of Polaiya Company. The strategy conference also unveiled the company’s 20-year-old scientific research strength work-Polaiya Energy Essence, further improved the new Polaiya Energy Series listed in September this year, and committed to providing consumers with anti-aging root solutions. It is understood that Polaiya Energy Essence will be officially listed in January next year.

Freda Gao Chunming: Continuous innovation is the only way for brands.

"China cosmetics are entering the golden age of brand rise, and global cosmetics are entering China time." Gao Chunming, deputy general manager of Freda, made his judgment clear at the China Cosmetics Industry Leaders Summit.

Dr. Yi Lian and Dr. Ai Er, owned by Freda (600223.SH), are also outstanding domestic brands in recent years. The company’s performance has grown by leaps and bounds, from 221 million yuan in 2018 to 1.969 billion yuan in 2022, an increase of nearly eight times in four years.

"From the perspective of the history of global economic development, a world-class consumption center will surely breed a world-class brand." Gao Chunming made an in-depth study on the history of the world economy and cosmetics. For example, he said, L ‘Oreal was born when the European economy rose, Estee Lauder was born when the American economy rose, Shiseido was born when the Japanese economy rose, and Amore was born when the Korean economy rose. At present, the cosmetics market in China has become the second largest market in the world, and he predicts that a world-class cosmetics brand in China will be produced in the next 10 years.

However, it is not so easy for domestic brands to stand out as world-class super brands. "To become a world-class brand, first of all, your products must have long-term vitality." Gao Chunming believes that continuous innovation is the only way. Taking Dr. Ai Er as an example, he described how brands make efforts in demand innovation, technology innovation, raw material innovation, category innovation and channel innovation. The brand broke through the scale of one billion in four years, and created a new track for micro-ecological skin care.

Gao Chunming also discussed with big coffee makers in other industries-where are the opportunities for China cosmetics brands in the future?

"The biggest opportunity is hidden in non-customers, which is a new business opportunity." Gao Chunming said that why non-customers don’t buy your products is actually more worthy of attention than why they buy them, because it will provide opportunities for brand improvement. Now there is a tendency in the industry: excessive trust in big data and algorithms. Gao Chunming believes that this may make the brand narrower and narrower. Everyone only pays attention to the target customers, and there is a high probability that they will fall into homogenization competition. Gao Chunming believes that letting non-customers see your brand advertisements will increase the satisfaction of existing customers.

Deeply cultivate scientific research and innovation, and the race of "long-term doctrine" continues.

Deng Wenhui, an industry analyst of Guolian Securities, said that according to the double 11 list of Tmall Beauty Cosmetics and the data of many third-party organizations, in 2023, domestic brands in double 11 achieved a breakthrough from "quantity" to "quality". Deng Wenhui further analyzed that there are three reasons behind the new pattern of the industry. First, consumers are more rational in placing orders and emphasize cost performance; Second, domestic brands cultivate their own internal strength, constantly increase their scientific and technological strength, and build their own "scientific ecology" in terms of self-developed ingredients and raw material innovation; Third, under cultural self-confidence, consumers no longer blindly worship foreign brands.

Photo courtesy of vision china.

In this year’s double 11 Promotion, the exclusive self-developed ingredients are often the signboard of each family, and each family continues to tap the potential in raw material innovation. In July this year, the filing data of new cosmetic raw materials of the State Food and Drug Administration showed that more than 60 new raw materials had been registered, and most of them were reported by domestic enterprises, among which the number of anti-aging ingredients was the largest. Taking the new track of synthetic biology as an example, it soon attracted the layout of companies such as Huaxi Bio, Polaiya, Betani, Freda, Juzi Bio and Marubi Co., Ltd. The existing raw materials of biosynthetic cosmetics include hyaluronic acid, collagen, astaxanthin, ergothionine, ginsenoside, polypeptide synthesized by enzymes, arbutin and so on.

Zheshang Securities Tang Xiujie believes that the competition in the beauty industry is intensifying, and if domestic products want to stand out, hard manufacturing and soft power are indispensable. The R&D strength has been the focus of domestic beauty companies’ competition, and weak brands are prone to growth bottlenecks.

In terms of R&D expenses, according to the data of the third quarterly report of cosmetics listed companies, in the first three quarters, there were five companies whose R&D expenses exceeded 100 million yuan, of which China Hi Bio (688363.SH) was 277 million yuan, Betaine (300957.SZ) was 181 million yuan, Polaiya was 128 million yuan, and shanghai jahwa (600315.SH) was 1. Judging from the year-on-year growth rate, in the first three quarters, Betani increased by 44%, Polaiya increased by 32%, Freda increased by 25%, shanghai jahwa increased by about 10%, and Huaxi Bio increased by 0%. Judging from the amount, the R&D expenses of Polaiya and Betani in the first three quarters of this year have exceeded the whole year of last year.

In terms of the number of patents, Polaiya has 234 patents, 17 new patents and 18 new patent applications in the first half of 2023. Huaxi Bio obtained 395 patents, and 58 new patents were added in the first half of the year. These patented technologies mainly focus on functional sugars and amino acids. Bettini’s patents mainly focus on Yunnan characteristic plant extracts, which is also the company’s independent research and development technology. The company claims to have a number of core technologies and patents in this field. Freda has 31 patents in the first half of the year, and 37 new products have been developed and put into production. Shanghai jahwa didn’t disclose it in the first half of last year. Only in 2022, when the annual report was disclosed, 9 national authorized invention patents and 43 patent applications were added.

Analysts believe that domestic beauty brands focus on scientific research to build their own scientific and technological strength, which is a good start, but compared with international brands, the amount and duration of investment are far from enough. For example, L ‘Oré al’s R&D investment in 2022 is as high as 1.139 billion euros, about 8.8 billion yuan. Moreover, behind every heavy product like L ‘Oré al, there is a patent technology blessing.

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