As an old general of Rome and Inter Milan, Cassano talked about the contest between the two former clubs in this round of Serie A, and finally the focus battle ended with the Nerazzurri winning 1-0 at home.

"Inter played a good game and they deserved to win the game. Thuram has scored nine goals and assists, and he started the season very strongly, which surprised me, of course in a positive way. Besides, I’m also happy for Aslani. He did well after coming off the bench. Varela also played a good game and he began to recover. Inter didn’t encounter any difficulties, only Sommer blocked Cristante’s great header once. Inter played well and they played in their comfort zone. This is Inter Milan, they have a strong team, have their own ideas and confidence, and they are the biggest favourites for the Serie A championship. Cassano said on Bobo TV, a live program in vieri.

"Mourinho Ideally, there is only one difference: if Eto ‘o, Milito and Sneijder are present, he will do more, but his first consideration is not to concede a goal, and then if you have strong players, you will score sooner or later. When I said he was not a good coach, I meant that Mourinho would not give you anything. When he has a champion player, he is excellent, and he will make you feel important. He is very strong in this respect, but today’s football is no longer like this. Football has developed, and strong teams no longer buy his tricks. Manchester United sent him away, Tottenham also sent him away, and Rome will send him away in the future. It is easy to coach a champion player. "

"Lu Kaku made me feel sorry for him: he was already in trouble, and everyone booed him in this game, but Inter fans didn’t need to boo him at all. Where did you expect Rome to play like that? Mourinho is very cunning, he changed the subject, and his communication style is suitable for those who follow him. None of the reporters asked him what he thought of the game and how he organized it. Why did you play so badly? Are you scared? People like Mourinho have a good life in Italy. Luck will end sooner or later, just like allegri. He won’t let the team pass the three-legged ball in a row. Only when the team he coached is strong can he win the championship. He has strong players in Porto and a super team in Inter Milan. He put two buses in front of the door when he played against Barcelona. Of course, that’s no problem. At home against Barcelona, he won the game by an offside goal and his opponent’s failure to blow a penalty, but his luck will end sooner or later. I don’t care that he took Rome to the finals twice. De Zerbi and Belsa may not have won the championship, but you will be excited when you see their teams. I’d rather not win, but play good football and make people happy. Mourinho is like this, I have said so for a long time. Inter gave him a dance music, but you didn’t even shoot straight through the goal. You just played for 0-0. What are you talking about? "

　　On December 25th, 2016, the 9th China Polar Bear International Winter Swimming Invitational Tournament was held in the frozen Ganhe River in Jiagedaqi District of Daxing ‘anling region. The picture shows the contestants jumping into the water. Xinhua News Agency reporter Wang Kaishe

　　"Cold winter" is the coldest season of the year. As the saying goes, "La Qi La Ba, frozen chin", the twelfth lunar month is in the cold winter. At this time, proper physical exercise and proper health care can not only relieve fatigue, but also make the body healthier.

　　Exercise in winter is essential.

　　Every winter, the winter swimming area of Nanhu Park in Changchun, Jilin Province is very lively, and there are often winter swimmers who are full of energy and swim in the "ice and snow".

　　Wu Zhaorui, an 88-year-old, has participated in winter swimming for more than 20 years. "Come every day, we don’t catch a cold, we don’t fear the cold, and we still swim in winter." Speaking of winter swimming, he seems very confident.

　　"Scientific winter swimming brings physical, life and spiritual benefits to winter swimmers, and the benefits of winter swimming have been recognized and accepted by more and more people." Mr. Ma, a winter swimmer in Hubei, talks about winter swimming with a clear head. "Winter swimming is very particular. To talk about science, every minute is the key. According to each person’s physical fitness, we should properly master the swimming volume."

　　In fact, besides winter swimming, there are many sports suitable for winter. According to health experts, aerobic exercise with smaller movement range and higher calorie consumption should be selected for winter exercise. Weibo, the official of People’s Daily, once counted nine sports suitable for winter, including skipping rope, jogging, climbing stairs, Tai Ji Chuan, alternating running, badminton, swimming, cycling and walking.

　　In addition, the passionate ice and snow sports have become the winter exercise items for more and more people. In recent years, ice and snow sports are heating up all over the country, and skating and skiing have become a winter carnival for many people.

　　Winter sports have many benefits.

　　There is a folk saying in China: "If you move in winter, you will have less illness;" Be lazy in winter and drink a bowl of medicine. " Proper participation in sports in winter is self-evident.

　　According to health experts, winter exercise can speed up the body’s metabolism. When the body is stimulated by cold, it will increase the antibodies against diseases in the blood, and the body’s resistance to diseases will also increase. Therefore, people who insist on exercising in winter are less likely to suffer from diseases such as colds, bronchitis and pneumonia.

　　There are many benefits of winter sports. For office workers, winter exercise can speed up blood circulation, increase the supply of oxygen to the brain and enhance the elasticity of blood vessels. This can eliminate the fatigue of the brain caused by long-term work and improve work efficiency; For the elderly, outdoor exercise in winter can fully enjoy the sunshine, promote the body’s absorption of calcium, and effectively prevent osteoporosis; For bodybuilders, when the warm body touches cold air or inhales cold air, the calories burned by exercise will increase slightly, so the effect of losing weight in winter exercise is better.

　　Of course, although there are many benefits of exercising in winter, we should pay attention to some problems. "In winter, the weather is cold. Generally speaking, it is best to exercise when the cold gradually fades after sunrise." Dr. Theway, from the Massage Department of the First Affiliated Hospital of Tianjin University of Traditional Chinese Medicine, said, "We should pay attention to minimizing outdoor sports in foggy days."

　　Pay attention to health in winter

　　Chinese medicine pays attention to "spring life, long summer, autumn harvest and winter storage". "Winter is March, which is called hiding". Winter is the season when vitality lurks and everything stings and hides. Li Yanling, director of the Nutrition Department of the First Affiliated Hospital of Tianjin University of Traditional Chinese Medicine, pointed out that the purpose of beginning of winter’s tonic is to preserve the yang of the human body, keep the body warm, nourish yin and subdue yang. Nursing should be combined with food supplement and medicine supplement, with warm supplement and flat supplement as appropriate. You can choose chicken, mutton, pears, chestnuts and other foods, and eat more foods containing inorganic salts such as potassium, sodium and calcium.

　　Pay more attention to hydration in winter health. Dr. Li from Changchun Hospital of Traditional Chinese Medicine said that the warm room in winter will be drier and people will lose more water. Being in such an environment for a long time, the body is naturally prone to dehydration. At the same time, Dr. Li pointed out that the most important thing in winter health care is to go to bed early. Adequate sleep should be ensured in winter health preservation, which is beneficial to the hidden yang and the accumulation of yin and body fluid.

　　Winter is a season suitable for "tonic", but "tonic" depends not only on eating, but also on moxibustion. Jin Xiaoqing, chief physician of acupuncture department of Zhejiang Hospital, said that when the cold current comes in winter, some people with weak body can play a role in cold resistance and health care through warm "winter moxibustion", that is, moxibustion.

　　Our reporter Wang Meng

　　　　The latest issue of China News Network News? Wang Newsweek reported that the rising house prices in 2007 finally faltered towards the end of the year: Beijing, Shenzhen, Shanghai and other cities with soaring house prices began to see different degrees of decline in transaction volume, and the discussion about whether the house prices have turned an inflection point under a series of macro-control began to be lively.

　　　　The article writes that the real estate market in 2008 will face two major problems: First, since the housing system reform in 1998, the real estate market in China has experienced an upward trend for nearly ten years. Under the accumulation of years of regulatory policies, will 2008 be the turning point of adjustment?

　　　　Secondly, regarding how to solve the real estate problem in China, Premier Wen said in a speech in Singapore that under the premise of strictly observing the "red line" of 1.8 billion mu of cultivated land, three ways should be adopted to expand supply: low-rent housing, affordable housing and market regulation. Some media interpret this policy as "it is possible to free most urban residents from high housing prices". The Ministry of Construction, the competent department, has also said that in the next three years, the investment in low-rent housing and affordable housing will double. If so, it will completely change the current supply pattern of the real estate market.

　　　　According to the article, from a realistic point of view, it is far from enough to change the supply pattern of the real estate market in the near future in terms of affordable housing with the current investment quota accounting for less than 5% of the total investment in residential and commercial housing. It is a necessary condition to make clear the details of the actual operation of low-rent housing and affordable housing, such as the source of funds, supply methods and supply targets, to ensure that the limited funds of the country are used in the cutting edge. Therefore, Bao Zonghua, executive vice president of China Real Estate and Housing Research Association, believes that the construction and improvement of the housing system will be the theme in 2008.

　　　　Judging from the current situation in China, on the one hand, the national income level is not up to the level that most people can realize market-oriented housing purchase; On the other hand, it is impossible for the financial resources of the government to meet the desire of all housing difficulties groups to realize government security in a short period of time. Therefore, for the future housing system in China, experts believe that it will be composed of three parts, that is, some people will completely solve the housing problem by the government, some will solve it by market means, and the middle part will be combined with market and government subsidies, thus covering all the people in China’s housing system and security system.

　　　　Bao Zonghua pointed out that at present, it has reached a consensus that housing security is the responsibility of the government, and the key is how to do it. In his view, at this stage, we should focus on the middle, low and lowest income people and expand the coverage of low-rent housing, affordable housing and other affordable housing. At the same time, the government should strictly control its Taoxing, housing prices and supply targets.

　　　　First, vigorously develop low-rent housing. The proportion of low-rent housing in housing stock in the world generally does not exceed 5%. However, China’s current situation is far below this ratio, so in 2008, China will accelerate the pace of improving the low-rent housing system.

　　　　The second is to vigorously build affordable housing. Starting from 2008, the government should strive to increase the supply of low-priced and medium-sized ordinary commodity housing.

　　　　Third, high-grade housing adopts market regulation. The high-grade housing market will mainly rely on market regulation, but we must proceed from China’s national conditions of large population and small land and insufficient economic strength, vigorously curb the excessive expansion of housing investment demand, and rationally regulate the proportion of large-scale high-priced housing construction. Bao Zonghua suggested charging high land transfer fee, high real estate development tax and high property tax for the construction and purchase of large-sized high-priced housing in the future, and "increasing" tax on the sale and purchase of second homes. By collecting "high" property tax, it not only increases government revenue, but also inhibits investment demand, reduces the proportion of large-sized high-priced housing construction, and finally realizes the stability of housing prices.

Editor: Liu Li

CCTV News:Preventing and resolving financial risks is the top priority of China’s financial supervision in recent years. Some city commercial banks, which are based in cities and mainly provide loan support for small and medium-sized enterprises, once experienced a situation of high non-performing loan ratio and unsustainable operation due to insufficient financial strength and low market risk tolerance. Local governments and financial supervision departments took a series of innovative measures in time, which successfully resolved the risks.

Liangshan Yi Autonomous Prefecture, located in the southwest of Sichuan Province, is rich in local mineral resources and has nearly 1,000 large and small mining enterprises. In 2014, in the last round of market volatility, the price of iron ore once dropped by 50%, and local mining enterprises were in trouble, and this risk was also transmitted to the financial system.

Lu Ningyuan, head of Liangshan Branch of Sichuan Bank and former vice president of Liangshan Commercial Bank:The vast majority of mining-related enterprises are in trouble, the interest on bank loans cannot be paid, the loans due cannot be repaid, and a large number of non-performing loans (loans) have also appeared in the loans of mining-related enterprises of the former Liangshan Commercial Bank.

Established in 2007, Liangshan Commercial Bank covers 17 local counties and cities. Among its total loans, loans from mining-related enterprises account for a relatively high proportion. This kind of loan structure is in western Sichuan, not only Liangshan Commercial Bank. Almost at the same time, Panzhihua Commercial Bank also experienced a crisis. As a shareholder of Panzhihua Commercial Bank, Luo Yangyong keenly felt that there were problems in bank operation.

Luo Yangyong, Chairman of Anning Iron and Titanium Co., Ltd.:When dividends were gone, bad debts and bad debts gradually increased. Other indicators have also deteriorated seriously, and we feel that the investment will fail, and it is estimated that we will lose all our money. All the shareholders are worried, but they are helpless and don’t know how to do it.

It never rains but pours. The guarantee company, which should have provided guarantee for the mine-related enterprises in the loan process, has not played its due role.

Today, many parties admit that in this process, banks themselves also had problems such as inadequate risk management and control. When the risks were exposed, even though Liangshan Commercial Bank and Panzhihua Commercial Bank, two city commercial banks, took various measures to deal with non-performing assets to resolve the risks, the non-performing assets continued to climb. By 2019, the total balance of non-performing assets of the two banks will be nearly 30 billion yuan. Among them, the non-performing loan ratio of Panzhihua Commercial Bank was as high as 53.4%, while the average non-performing loan ratio of 134 city commercial banks nationwide was only 2.3% in the same period.

Nearly 30 billion yuan of non-performing assets and more than 50% of non-performing loan ratio, once not properly disposed of, the consequences are unimaginable. Faced with such a huge challenge, the Sichuan provincial government and financial supervision departments decisively intervened, merged two high-risk municipal city commercial banks and established a new provincial bank.

As the chairman of Sichuan Bank, Lin Gang participated in the risk resolution of Liangshan Prefecture Commercial Bank and Panzhihua Commercial Bank and the establishment of Sichuan Bank. He told reporters that the working group faced many difficulties as soon as it was established in 2019.

Chairman of Sichuan Bank Lin Gang, former director of Sichuan Bank’s preliminary work promotion group office:The first is the problem of how to resolve and digest the bad assets of these institutions on such a large scale.

After a thorough investigation of non-performing assets, in February, 2020, the Working Group launched a 60-day battle to clear and close non-performing assets in Panzhihua, Chengdu and Liangshan.

Zheng Ye, President of Sichuan Bank and former Deputy Director of the Office of the Pre-work Promotion Group of Sichuan Bank:It is very, very difficult to collect interest from one household, collect the bad loans they owe, and increase the collateral of loans from one household to another.

While collecting and transforming some non-performing assets, the working group adopted the strategy of digesting part of the old shareholders’ equity at a discount, keeping part of the books, packaging and stripping part, and the new shareholders taking part. With the decrease of non-performing assets, a more intractable problem has surfaced.

Zheng Ye, President of Sichuan Bank and former Deputy Director of the Office of the Pre-work Promotion Group of Sichuan Bank:In the bank, the shareholder himself has a record of breaking the law and needs to be cleaned up. If the shareholders have non-performing loans in the bank, you can either pay off the principal and interest of your non-performing loans or pay off your shares to repay the non-performing loans. There is another problem: the shareholder’s loan exceeds the requirement of regulatory concentration, and he should also bear the responsibility and correct it.

With the vigorous promotion of local government departments, the two banks cleaned up and rectified 258 old shareholders. In order to prevent the same problem from appearing again, the supervision of the new shareholder team must also keep up. The working group hired external professional institutions to formulate strict plans for the bank’s internal processes and governance structure.

Wu Weijun, Vice Chairman of Deloitte China:As a shareholder of a bank, I have a responsibility, not to say that this bank is mine, so I can trade at will. Any shareholder’s transaction with the commercial bank he has invested in is a related party transaction from the perspective of our accounting, and it should be disclosed. In this risk prevention, we signed an agreement with shareholders to follow the regulatory requirements.

The newly established Sichuan Bank has a registered capital of 30 billion yuan, and the share price is 1.3 yuan/share, of which 1 yuan/share is the share capital and 0.3 yuan/share is the premium fund, and the premium part is specially used for the disposal of non-performing assets. At that time, the valuation P/B ratio of listed banks in China was around 0.8, and the P/B ratio of Sichuan Bank was 1.3. It was a great challenge for the working group to raise enough funds.

Chairman of Sichuan Bank Lin Gang, former director of Sichuan Bank’s preliminary work promotion group office:At that time, to be honest, we were all worried about the uneven fundraising. In the end, the capital raised was about 34.8 billion yuan, and 4.8 billion yuan was returned. Some shareholders did not come in. Sichuan Financial Holdings, as the main sponsor, holds a lot of 20%, a few percent and a few percent. Therefore, from the perspective of the market dispersion of shareholders, it should be said that it is more reasonable.

On November 7, 2020, Sichuan Bank opened its doors for business. After two years of risk mitigation, it achieved initial results.

Chairman of Sichuan Bank Lin Gang, former director of Sichuan Bank’s preliminary work promotion group office:From the quality of its assets, the non-performing (loan ratio) has dropped from the original high to about 2.08% at the end of April, and our goal is to drop below 2%, so I think this is a very, very good thing.

The establishment and steady operation of Sichuan Bank has explored a new path for the regulatory authorities and local governments to resolve the operational risks of city commercial banks, and Shanxi and other places are also resolving the risks of city commercial banks through similar models.

On April 28th this year, Shanxi Bank officially opened to the public. Shanxi Bank was formed by the merger of five original city commercial banks: Datong Bank, Changzhi Bank, Jincheng Bank, Jinzhong Bank and Yangquan City Commercial Bank.

Ceng Gang, Deputy Director of National Finance and Development Laboratory:It is not a simple merger. During the merger process, it has a lot of institutional mechanism optimization to enhance its long-term development ability. In fact, it is not only capital injection, but also wisdom injection, so as to improve the management ability and management concept.

According to industry insiders, there are currently three main modes for risk resolution of city commercial banks — — Bankruptcy, short-term rescue and merger and reorganization have indeed played a role in stabilizing local economic development and maintaining the stable operation of the financial system.

Xing Guijun, Director of China Banking and Insurance Regulatory Commission City Banking Department:After more than three years of efforts, the risk preference of city commercial banks has been gradually revised, the extensive business model has been gradually reversed, the business behavior has become increasingly standardized, the risk level has continued to converge, and it has gradually changed to high-quality development.

In addition to resolving risks of city commercial banks, rural commercial banks and high-risk trust institutions, China Banking and Insurance Regulatory Commission has made positive progress in dismantling high-risk shadow banks and strengthening credit risk prevention and control. From 2017 to 2020, the cumulative disposal of non-performing loans was 8.8 trillion yuan, exceeding the sum of the previous 12 years, and the scale of shadow banking dropped by about 20 trillion yuan compared with the historical peak.

Liang Tao, Vice Chairman of China Banking and Insurance Regulatory Commission:A number of city commercial banks and rural commercial banks have made positive progress in risk resolution. At the end of the first quarter (2021), the balance of non-performing loans in the banking industry was 3.6 trillion yuan, and the non-performing loan ratio was 1.89%, down 0.02 percentage points from the beginning of the year.

Once Guofeng Beauty is solidified into a revised copy, a concept and a face value of "changing the soup without changing the medicine", how long can consumers buy it?

Even if you haven’t bought Guofeng beauty cosmetics, you must have heard of Forbidden City makeup, Huaxizi carved lipstick, Mao Geping Guofeng series …

Following the "national tide" fever, domestic beauty brands have been rising in recent years.

According to the report of CBNData, in 2020, the growth rate of domestic brands in the beauty care industry is much higher than that of foreign brands. At the same time, during Tmall’s "Double Eleven" in 2020, domestic beauty products went to sea and increased by more than 10 times.

Many domestic beauty brands make good use of China elements to create product differences. Among them, the makeup of the Forbidden City made the "national beauty" fire out of the circle.

Even international brands are jealous to join in the fun. L ‘Oré al, Chanel, Estee Lauder, Givenchy, YSL, etc. are all playing the national beauty in the China market.

In April 2020, Wang Yifan, who "restored" China’s ancient cosmetics, was in Hangzhou, Zhejiang. /vision china

However, if you play too many routines, aesthetic fatigue is inevitable. After the makeup of the Forbidden City and the Summer Palace, netizens ridiculed that "Tiantan lipstick is ready to go", "Great Wall eye shadow is gearing up" and "Xiangshan socks are stepping up production".

Once Guofeng Beauty is solidified into a revised copy, a concept and a face value, how long can consumers buy it?

Beauty cosmetics are rubbing against the national style.

The Forbidden City Wenchuang, which was raging around, set off a wave of national marketing as soon as it entered the beauty industry.

Take the Forbidden City Taobao as an example. In 2018, it launched "Floating Sky, Canghai, Forbidden City Crane Series" and "Dark Night Streamer, Forbidden City Mother-of-pearl Series" (hereinafter referred to as "Crane Series" and "Mother-of-pearl Series" respectively).

In terms of design elements, these two series of items include their designs, which are from different collections of cultural relics in the Forbidden City. For example, the design inspiration of the mother-of-pearl series comes from the "Mother-of-pearl Hua Niaowen Bed with Black Paint" in the Palace Museum.

In terms of name, the mouth red number of the crane series is added with three major colors: "Palace Wall Red", "Lang Yaohong" and "carmine". According to the sales data of Taobao in 2018, this new gameplay made the Xianhe series lipstick sell 80,000 pieces on the day of "Double Twelve".

On September 6, 2020, Beijing, the cultural service area of the 2020 Service Trade Fair, the Forbidden City lipstick was launched by the Forbidden City. /people’s vision

Such a marketable idea soon attracted a group of followers.

M.A.C, who is good at "copying homework", immediately launched the "New Year Limited Series" jointly with the Forbidden City. Not only international brands, but also Xie Fuchun, one of the founders of Guofeng beauty brand, refused to accept the old age and jointly launched the "ancient perfume" with the Forbidden City.

Other "students" can’t sit still, so they join hands with other cultural and creative IPS. The most representative is the joint make-up of Kating and the Summer Palace, which is called "A Hundred Birds Face the Phoenix". The Summer Palace co-branded makeup was once a hot spot in the Forbidden City makeup: who is the official lipstick?

Kazilan asked Dunhuang Museum for a co-branded makeup, and L ‘Oré al asked China National Museum for a co-branded lipstick. Finding a joint name of the museum has become the standard of the hot spot of the national wind for a time.

We don’t engage in co-branded Huaxizi, but take the opportunity to bring out "carved lipstick", that is, we present ancient elements on lipstick with the ancient embossed process of re-engraving.

Other brands that don’t engage in co-branding have also racked their brains to find China elements to launch their own national beauty series. When the brand Hua, a new domestic product, knew about it, she gave the six blush colors of the new series names such as "slow voice", "qingpingle", "fairy", "recalling the youth", "Sauvignon Blanc" and "seeing each other".

European and American brands are also in line with the Chinese style: Armani produced a simple and rude limited high-gloss powder for the Year of the Dog, Givenchy produced a limited edition cosmetics for the Year of the Monkey, and Chanel once again launched an oriental screen series of cosmetics.

In fact, it is not new to play with national beauty. The master is here to play Guofeng Beauty Makeup-Dai Chunlin, who has been in existence since the Ming Dynasty, and Xie Fuchun, who inherited the tradition of Yangzhou powder in the Ming and Qing Dynasties, are the two founders of Guofeng Beauty Makeup.

On August 22, 2017, in Changzhou, Jiangsu Province, citizens passed the Chinese time-honored brand Xie Fuchun Cosmetics Commercial Retail Store. /vision china

Duck egg powder, which ancient celebrities competed for, has always been the top product of Dai Chunlin and Xie Fuchun. Rouge, as the overlord of ancient makeup, and the thrush tool "snail Dai" favored by ancient nobles are also the star products of these two companies.

The classic four-piece set of Xie Fuchun Town Store is rouge, powder, hair oil and fragrant parts. The royal makeup series of Dai Chunlin Palace, which became famous in the Ming and Qing Dynasties, continues to this day; Dai Chunlin also launched a Dream of Red Mansions, a series of twelve women in Jinling.

Things will develop in the opposite direction when they become extreme.

It didn’t take long for Guofeng beauty cosmetics to be lively, and the problem came.

The landmark event is that the Forbidden City makeup is in a crisis of production suspension. In January 2019, the Forbidden City Taobao issued an official statement: the original series of makeup of the Forbidden City Taobao still has a lot of room for improvement from appearance to quality, and decided to stop production across the board.

At this time, it was less than a month before Taobao, the Forbidden City, launched makeup.

The rush to stop production is directly related to insufficient production capacity. According to national business daily, a few days after Taobao put on make-up in the Forbidden City, some consumers reported that the products that had been purchased before were refunded. The customer service responded that the pre-sale quantity of makeup has reached the production capacity saturation, so the pre-sale is suspended.

However, the most fundamental reason is the poor quality of the products. Weibo, the official Taobao official of the Forbidden City, responded to the shutdown event, saying that "the lipstick appearance feedback is not high enough, and there is room for improvement in the smoothness and color of the paste. Eye shadow pearlescent particles are not fine enough, and some colors have flying powder phenomenon. Blush, pink, and orange are acceptable. The practicality of the emerald blue is not good. "

To put it bluntly, the creativity of Guofeng beauty cosmetics is good, but it is not easy to cooperate with the production end.

The "2020 Domestic Makeup Market Research Report" released by Yiou think tank and Tmall Beauty (hereinafter referred to as "Yiou 2020 Domestic Makeup Report") points out that low-price competition and high marketing expenses restrict the investment in product research and development. In order to enter the market quickly, most domestic make-up brands rely on OEM production. This has led to a situation that a foundry works for multiple brands at the same time and the products of different brands converge.

The report also pointed out that due to the low barriers to entry in the beauty industry, brands without independent product design and innovation capabilities are keen to copy or imitate popular categories and styles, and then sell them at lower prices, further intensifying competition in the same category and depressing overall industry profits.

National business daily once reported that Hua Xizi officially released the recruitment information of "high-paid anti-counterfeiting officials" to the outside world in March 2020. After only one month (June), the anti-counterfeiting officer complained about nearly 2,000 fake information on various e-commerce platforms and prosecuted more than 300 cases.

From the perspective of consumption, many European and American brands’ "Chinese style restrictions" have been repeatedly ridiculed. Armani’s limited high-gloss powder in the Year of the Dog was ridiculed as "the biggest killer in the beauty industry". Givenchy’s limited make-up in the Year of the Monkey also caused netizens to ask: "Do European and American big names have any misunderstandings about Chinese style?"

Moreover, the common routines such as changing the copy, putting together the concept, and spelling the face value are much more played, which is also easy to cause aesthetic fatigue. If there is no more core product innovation, the enthusiasm of consumers will be difficult to sustain.

In contrast, the century-old brand of neighboring Japan, excellent product strength is fundamental.

Shiseido in Japan, the brand name comes from the Book of Changes. Shiseido’s brand symbol "Toona sinensis", that is, a gorgeous and elegant camellia, symbolizes the Japanese cultural tradition of appreciating nature. The treasure of its town store is a product with real vitality for a hundred years, such as EUDERMINE red honey dew lotion developed on the basis of western pharmaceutical prescriptions in 1890.

Difficult to be high-end

"Big-name flat replacement", that is, a cheap substitute for big names, is the key for some domestic beauty brands to rely on the national wind elements.

Imagine, if the price of the Forbidden City Xianhe series lipstick is not within 150 yuan, but 300-500 yuan, will it still sell so well? In the long run, if you want to be stable and strong in the whole market, it is almost a consensus of domestic beauty brands to hit the high end.

Forbidden City lipstick. /vision china

This is because there is a "1 billion curse" in new consumer brands, that is, when the brand grows to an annual sales of 1 billion yuan, it will encounter growth bottlenecks. If we don’t transform at this time, once the traffic dividend fails, the profit model of the whole enterprise will collapse. It is at this stage that the perfect diary vigorously promotes the transformation of the brand to "high-end".

On the one hand, Perfect Diary invited Zhou Xun and Poke Ye (Troye Sivan) as brand spokespersons; On the other hand, the perfect diary quickly laid offline stores. By September 2020, Perfect Diary had opened 200 stores in just 20 months.

Yiou 2020 Domestic Makeup Report also pointed out: Some insiders believe that domestic make-up is not high-end because "I dare not try, I dare not invest, I am afraid of failure, and I am afraid that the loss will outweigh the gain". On the one hand, domestic cosmetics that lack brand accumulation have to maintain sales at low prices; On the other hand, weak profits and lack of talents make it impossible for domestic cosmetics to further develop and innovate and differentiate products and brands.

However, even if the intensity of burning money is well-known in the industry, what kind of answer sheet can the perfect diary hand over in the high-end impact? Perhaps, everything has just begun.

On April 18th, 2021, Beijing Guangqu Road Business Circle, Heshenghui Shopping Center, Zhou Xun endorsed the PERFECT DIARY perfect diary beauty cosmetics chain store. /vision china

Mao Geping, another representative of the impact on high-end domestic products, has been positioned in high-end domestic cosmetics from the beginning. In addition to the big IP of founder Mao Geping, it also cooperated with the Forbidden City to produce a three-season makeup series. Even if it is praised by netizens as "the subversion of the value of Guofeng beauty", from the sales data, the joint makeup of the Forbidden City is far less than before.

After all, the price of the third season’s "rockhopper gold-plated stunning lipstick" jointly issued by the Forbidden City in Mao Geping reached 560 yuan. To fight the big names in Europe and America in this price range, it seems that the joint name of the Forbidden City in Mao Geping is not enough to rely on the IP of the Forbidden City and the beautiful face value.

In the high-end development of the brand, Shiseido in Japan provides another example.

According to the research report of Guojin Securities, Shiseido adheres to the strategy of "high-end priority" and gathers resources to high-end brands at the brand end; At the research and development end, many research results of "whitening", "sun protection" and "anti-wrinkle" have been created; On the channel side, let its high-end brands seize the most luxurious location; On the marketing side, Shiseido has always led the Japanese advertising design community; On the supply chain side, Shiseido’s global layout has achieved efficient production.

To this day, Shiseido is constantly updating its market strategy to keep up with the changes in the consumer market.

For the growing domestic beauty brands, there is still a long way to go to high-end and even globalization.

Author | Shu Shaohuan

Typesetting | Zhen mi Li

Original title | Antique cosmetics: After the "national wind fever" is on fire, what should beauty do next?

First published in issue 589 of New Weekly.

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