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FAW Toyota’s new RAV4 Rongfang-new Lingfang is listed, and there is no suspense in sales growth.

When the monthly sales penetration rate of domestic new energy exceeds 50% for two consecutive months, is there any chance for joint venture fuel vehicles? For this question, FAW Toyota New and New HARRIER are giving the answer!

On September 12th, FAW Toyota’s new RAV4 Rongfang and new Lingfang went on the market, among which the new RAV4 Rongfang was upgraded with a total of 9 models, with a price of 169,800 to 297,800 yuan. The new HARRIER Lingfang launched six models for intelligent upgrade, with a price of 191,800 to 275,800 yuan.

Compared with the old model, on the basis of upgrading the product competitiveness, the price and listing rights of the new car are not playing hard to get, but directly in one step!

How lethal is this price? We should know that Rongfang, as a star product of FAW Toyota in SUV market, is almost the lowest price in China market in the past 30 years. As the "Toyota’s most beautiful SUV", Lingfang also came to the 190,000-level range. Compared with the same level of new energy, both cars have basically achieved "oil is lower than electricity".

Judging from the current "oil-electricity pattern" in the domestic market, under the impact of new energy and intelligence, the rejuvenation strategy of increasing the allocation and reducing the price of fuel vehicles has long been common.

For Xinrongfang and Xinlingfang, the competitive challenge after listing is not easy. Especially for Xinrongfang, as the sales champion of joint venture brand in SUV market, under the new price system, Xinrongfang also bears the burden of sales growth of FAW Toyota in SUV market.

So is there any growth opportunity for Xinrongfang?

From the perspective of sales volume, despite the rapid growth of new energy and the decline in the overall market share of fuel vehicles, there is still nearly 50% market demand for fuel vehicles in the domestic passenger car market. And the new Rongfang family has also formed a diversified technical route from fuel to oil mixing to plug-in mixing.

In addition, from the sales trend of Rongfang family this year, stimulated by price wars and infighting wars, Rongfang has not only failed to follow the decline of the broader market this year, but has also made steady progress.

Since June this year, Rongfang has sold more than 16,000 units for three consecutive months, which has not only stabilized the pace of growth in the complex competitive situation, but also proved that despite the decline in the fuel vehicle market, the popular products represented by Rongfang family still have a large number of user needs.

On the basis of this achievement and the market reputation accumulated by the Rongfang family in the past 30 years, with the new round of "old-for-new" cars gradually activating the vitality of market consumption, the new Rongfang "increasing distribution and reducing prices" is undoubtedly expected to achieve contrarian growth.

Judging from the specific changes in product competitiveness, the product evolution of Xinrongfang is not small!

Compared with the old models, Xinrongfang not only optimized and upgraded the exterior details such as front and rear bumper sports guards, side door lower guards, wheel eyebrows, etc., but also increased the body color matching of SPAR green. The interior also improved the quality and comfort of the entire cockpit by adding more leather cladding, wood decorative strips and piano black decorative boards.

In terms of configuration, the new RAV4 Rongfang 2.0L Fashion Plus version also adds functions such as electric tailgate, 2.5L smart electric hybrid twin-engine elite Plus version and 2.5L smart electric hybrid twin-engine elite Plus four-wheel drive version with digital keys, which further improves the cost performance of the whole vehicle and the convenience of car use.

At the level of practical intelligence, Xinrong Fang is directly in place, and the whole system comes standard with L2-level assisted driving, voice assistant 30-second wakeup-free, car WeChat and other functions. You should know that in the same class, the entry-level versions of popular models such as CR-V and Song PLUS DM-i do not support L2 intelligent driving assistance.

With the new Toyota Pilot’s advanced intelligent driving, Xinrongfang can support many intelligent driving assistance functions such as PCS pre-collision system with emergency steering assistance and vehicle monitoring at intersections, DRCC dynamic radar control system with active deceleration at corners, and LTA lane tracking assistance system with car-following function.

Although the current automobile intelligence is developing rapidly, in the price range where Xinrongfang is located, most new energy vehicles are still at the simple driving assistance level. Therefore, in contrast, the intelligence of Xinrongfang is obviously no longer a short board.

Of course, based on the reputation of 14 million users accumulated by Rongfang family in the world in the past 30 years, the stability and reliability of the core power system are still the top priority for most consumers. Therefore, in the core power system, Xinrongfang also provides three different power energy options based on the mature and stable power system quality.

Among them, the gasoline version is equipped with a combination of TNGA 2.0L engine and CVT gearbox, and the intelligent electric hybrid twin-engine system is equipped with a 2.5L engine, CTV gearbox and a lightweight new structure motor, which further improves the economy of energy consumption on the basis of dynamic stability, and can achieve a battery life of 1000km for one tank of oil.

At a time when the demand of the plug-in and hybrid market is greatly increasing, Xinrong Power Supply also provides a newly developed intelligent plug-in dual-engine power system, which can achieve 78km of pure battery life, and the fuel consumption of WLTC under comprehensive working conditions is as low as 1.46L/100km. It is worth noting that this energy consumption performance almost exceeds most popular autonomous plug-in cars on the market.

From the perspective of key configuration and upgrading of core power, although the market competition is fierce, the arrival of the new Rongfang family is still expected to achieve differentiated competition in the compact SUV market through mature and reliable market reputation, high maintenance rate performance and richer and better product sequence selection.

The same is true for the new Lingfang. As the "Toyota’s most beautiful SUV", compared with the old models, the new Lingfang has also achieved price reduction and increased allocation. Not only is the whole system equipped with a brand-new Toyota Space smart space, but some versions have also upgraded dual 12.3-inch full LCD color multi-function instruments and central control large screen, which brings a more convenient and comfortable car experience.

It can be believed that with the continuous upgrading of the competitiveness of core products on the basis of the price being close to the people, the competitiveness of FAW Toyota in the SUV market will undoubtedly be strengthened.

In the past August, FAW Toyota also achieved warmer growth under the impetus of Rongfang family and other popular SUV products, and officially returned to the monthly sales camp of 70,000+!

With the rapid entry of Xinrongfang and Xinlingfang into the golden cycle of listing, FAW Toyota is expected to continue to "go high" next. In this regard, we will continue to pay attention.

Enhance the lasting power of high-quality development

　　Consumption is the final demand, a key link and an important engine to smooth the domestic circulation, which has a lasting driving force for the economy and is related to safeguarding and improving people’s livelihood. Report to the 20th CPC National Congress of the Communist Party of China pointed out that the basic role of consumption in economic development should be enhanced. The Central Economic Work Conference proposed that efforts should be made to expand domestic demand and give priority to restoring and expanding consumption. At present, China’s new industrialization, informationization, urbanization and agricultural modernization have been further promoted, and people’s living standards have been continuously improved. To implement the decision-making arrangements of the CPC Central Committee and restore and expand consumer demand, it is necessary to adapt to the trend and direction of residents’ consumption upgrading, adopt more active and effective policies and measures, give full play to the basic role of consumption in economic development, and continuously enhance the lasting motivation for high-quality development.

　　Analysis shows that "the basic role of consumption in economic development" includes two dimensions. The first is the fundamental role of quantity. Consumption, as the starting point and the end result of economic activities, reflects the final demand and plays a guiding and pulling role in a country’s economic growth, thus playing a fundamental role in economic development. Macroscopically, it is reflected in the contribution of total consumption expenditure to economic development, and microscopically, it is reflected in consumers’ consumption ability, willingness or confidence. The second is the fundamental role of quality. The upgrading of consumption structure is helpful to promote the transformation of economic growth power, and then realize the upgrading of economic quality and efficiency. On the whole, strengthening the basic role of consumption in economic development is conducive to optimizing the major proportional relationship between production and consumption in the national economy and building an economic development mode in line with China’s long-term strategic interests; It is conducive to achieving mutual promotion between demand guidance and supply-side structural reform, driving economic transformation and upgrading, promoting high-quality development, and building a modern economic system; It is conducive to safeguarding and improving people’s livelihood, achieving mutual promotion and common progress in economic and social development, and better meeting the people’s growing needs for a better life.

　　Specifically, consumption enhances the basic role of economic development by smoothing the economic cycle, stimulating economic growth and promoting endogenous development. From the perspective of smooth economic cycle, only smooth social reproduction cycle can promote economic development in a high-level dynamic balance between supply and demand. Social reproduction is divided into production, distribution, exchange and consumption. Among them, production and consumption are interdependent. Production creates consumption mode, power and ability, while consumption exerts a reaction on production by providing motivation and objects. Only when consumption is completed, the goods and services produced are truly meaningful and their value can be realized. Production without consumption as the ultimate goal is inevitably unsustainable, which will interrupt the economic cycle and even lead to crisis. Therefore, developing and expanding consumption and stimulating new growth points with consumption upgrading and innovation can drive other links and play an important leading role in smoothing the economic cycle. From the perspective of promoting endogenous development, expanding consumption is an important way to enhance the endogenous motivation and sustainability of economic development. The advantage of a big country’s economy is that it is internally recyclable. China has a population of more than 1.4 billion, and its per capita GDP has exceeded $12,000, making it the most potential consumer market in the world. The optimization and upgrading of residents’ consumption is combined with modern technology and production methods, which contains huge growth space. China should give full play to the unique advantages of the super-large-scale domestic market and constantly iterate out new, rich and high-level consumer demand, thus providing an important foundation for promoting effective investment and long-term economic growth.

　　Restoring and expanding consumption is not only the key to the current sustained economic recovery, but also the inevitable requirement to support the continuous improvement of people’s quality of life. We should conform to the new requirements of people’s better life and the new trend of consumption upgrading, focus on the main problems that restrict the release of consumption potential at present, and enhance the basic role of consumption in economic development by increasing the income of urban and rural residents, improving the level of social security, promoting the integrated development of urban and rural areas, and creating a good environment.

　　First, increase the income of urban and rural residents through multiple channels and expand consumer demand in multiple dimensions. Income is the basis of consumption. To expand residents’ consumption, we should consider employment, income and consumption as a whole. By promoting higher quality and more adequate employment, we can achieve simultaneous growth of labor remuneration while improving labor productivity, thus laying a solid foundation for expanding consumption. We should adhere to the employment orientation of economic development, take many measures to stabilize employment, and improve expectations more through economic recovery, employment satisfaction and income increase; It is necessary to intensify macro-policy control, strengthen coordination and cooperation of various policies, create a good business environment, support the development of small and medium-sized enterprises and individual industrial and commercial households, stimulate the vitality of business entities, and increase the income of urban and rural residents through multiple channels; It is necessary to take expanding the size of middle-income groups as an important policy goal, optimize the income distribution structure, and improve the mechanism that knowledge, technology, management, data and other production factors are contributed by market evaluation and determined according to their contributions, so that residents can have a stable income to consume.

　　Second, improve the level of social security and improve residents’ consumption behavior. The relationship between social security and consumption is increasingly close. Whether there is enough guarantee for future life has become an important consideration for ordinary people to dare to spend. To achieve "dare to consume without worries", we need not only to make ordinary people have a stable income, but also a strong social security as a backing to avoid worries. By continuously expanding the coverage of social security, gradually improving the level of various social security benefits, and weaving a tight social safety net, we can provide basic living security for the majority of residents, thus releasing their potential consumption demand and energy.

　　Third, promote the integrated development of urban and rural areas, give play to the radiation-driven role of central cities and tap the consumption potential of counties and townships. For central cities, cities with conditions can promote the cultivation and construction of international consumption center cities, accelerate consumption agglomeration, and play a leading and driving role; For counties and townships, it is necessary to establish and improve the county-level commercial system with county as the center, towns as the focus and villages as the foundation, expand the coverage of e-commerce in rural areas, improve the consumption environment in counties, promote the urbanization construction with county as the important carrier, and promote the escalation of rural consumption.

　　Fourth, adhere to the combination of soft and hard deployment to create a good environment to promote consumption. On the one hand, it is necessary to strengthen the construction of multi-level consumption platforms, modern circulation systems, county and township commercial facilities and other hardware systems to provide more products and services with rich categories, excellent quality and convenience for residents’ consumption; On the other hand, it is necessary to make arrangements from the aspects of breaking down barriers that restrict consumption, improving the consumption standard system, strengthening law enforcement and supervision in the consumption field, and comprehensively strengthening the protection of consumers’ rights and interests to promote the overall optimization of the consumption environment.

　　(This article Source: Economic Daily Author: President of Zhejiang Gongshang University, researcher of Modern Business Research Center Wang Yonggui Sun Hao)

Double 11 is no longer the carnival of Chinese, and the ＂hands-on party＂ of various countries is crazy about ＂buying in buy buy＂

　　CCTV News:It’s time for everyone to "buy in buy buy" again. In the "Double Eleven" shopping festival, all major e-commerce platforms have already delivered eye-catching performances. Amazing turnover figures, huge market scale and perfect trading system, these characteristics of China’s e-commerce industry have amazed foreign media.

　　China’s "Double Eleven" shopping festival, what shocked foreign media most was the amazing turnover figures and the huge e-commerce market behind it. Reuters wrote that China’s "Double Eleven" is similar to the "Black Friday" in the United States, but it has been completely crushed in scale: a research report predicts that the e-commerce market in China will reach 1.94 trillion US dollars in 2019, ranking first in the world; The United States ranks second, but the scale is only $587 billion.

　　The report also shows that China’s share of the global e-commerce market is as high as 54.7%, nearly twice the total of the five countries ranked after China.

　　China’s e-commerce market has brought huge business opportunities to enterprises from all over the world.

　　This is a product launch conference hosted by Japanese manufacturers in Beijing at the end of October. Debut is a "beauty instrument" with a price of nearly 26,000 yuan, which has the function of cleaning pores and improving facial lines. This is a new product specially released for Double Eleven.

　　According to NHK TV, the enterprise producing this advanced beauty instrument is from Gifu County, Japan, and it is a small and medium-sized enterprise with only 100 employees. Since 2017, this company has started to cooperate with China e-commerce to promote its products through the Internet in China. Japanese media said that "Double Eleven" has now become a festival that cannot be ignored in China. In order to compete with large enterprises for market share, small and medium-sized enterprises in Japan focus their marketing on young people in their twenties. When selling through live webcasting, the top management of this enterprise that produces beauty instruments also took the stage in person. The concept of Double Eleven Shopping Festival has also moved from China to other Asian countries and even the whole world.

　　In Russia, the "Chopper Party" is also enjoying the "Buy in buy buy". In recent years, AliExpress, Alibaba’s cross-border e-commerce platform, has held "Double Eleven" shopping activities in Russia, and the number of Russian people participating in it has increased exponentially. AliExpress has also become the most popular e-commerce platform in the region, with almost one in every six Russians using AliExpress. With the increasing popularity of AliExpress, more and more Russians have begun to choose online payment.

Committee member the Political Bureau of the Communist Party of China (CPC) Central Committee and Liu He, Vice Premier of the People’s Republic of China were interviewed on current economic and financ

　　Xinhua News Agency, Beijing, October 19th-On the morning of October 19th, Committee member the Political Bureau of the Communist Party of China (CPC) Central Committee and Liu He, Vice Premier of the People’s Republic of China accepted a joint interview with People’s Daily reporter Gong Wen, Xinhua News Agency reporter Zhao Cheng and CCTV reporter Xu Qiang on current economic and financial hot issues. The following is the interview record.

　　Reporter: Vice Premier Liu, we know that you are very busy, but there are some changes in the current economic and financial situation. I hope you can answer a few questions and respond to market concerns.

　　Liu He: Welcome to the interview. I am very willing to answer your questions.

　　(1)

　　Reporter: Vice Premier Liu, what do you think of the recent sharp fluctuations in the China stock market?

　　Liu He: Recently, there have been obvious fluctuations and declines in the China stock market, which are caused by many factors. The first is external factors. After the central banks of major countries raised interest rates, global stock markets began to fluctuate and declined, and the US stock market also showed a significant correction. At present, this process is still continuing. Sino-US trade friction has also had an impact on the market, but frankly speaking, the psychological impact is greater than the actual impact, and China and the United States are currently in contact. Second, China’s economic structure is in the process of breaking the old and establishing the new, which will inevitably have an impact on the stock market. Third, the market expectation has changed, and the uncertainties in the future economic environment have affected investors’ behavior. Investors are very concerned about the development of private economy and the protection of property rights. In addition, there are some technical factors in the market in recent days, such as passive lightening in the process of stock market decline. The combination of these factors makes the stock market fluctuate.

　　Recently, I have paid close attention to the evaluation of China stock market by international investment institutions and the market analysis of domestic professional institutions. Everyone agrees that China is becoming the most valuable investment market in terms of global asset allocation, the bubble has been greatly reduced, the quality of listed companies is improving, and the valuation is at a historical low level. Therefore, many institutions suggest paying close attention to China stock market and think that China stock market has high investment value. I believe that investors will make rational judgments on these assessments. It can be said that the adjustment and clearing of the stock market is creating good investment opportunities for the long-term healthy development of the stock market.

　　(2)

　　Reporter: What new measures does the government have to promote the healthy development of the stock market?

　　Liu He: The government attaches great importance to the healthy and stable development of the stock market. At present, the psychological characteristics of the stock market are that there is a strong expectation for institutional innovation and reform policies, and there is a strong positive feedback effect between market performance and this expectation. Therefore, to promote the healthy development of the stock market, we must launch new reform measures in a targeted manner. Recently, the People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and other relevant departments have been studying and introducing new reform measures, with some new institutional arrangements and policy tools. This morning, these policies have been announced in succession, including at least the following aspects. First, in terms of stabilizing the market, banks’ wealth management subsidiaries are allowed to invest in the capital market, financial institutions are required to scientifically and reasonably manage the risk of equity pledge financing business, and funds managed by local governments and private equity funds are encouraged to help promising companies ease the difficulties of equity pledge. Second, in the reform of the basic market system, the Measures for the Administration of Private Equity Management of Securities and Futures Operating Institutions were formulated, the share repurchase system of listed companies was improved, the market-oriented reform of mergers and acquisitions was deepened, the reform of the New Third Board system was promoted, and the support for the listing of scientific and technological innovation enterprises was increased. Third, in encouraging long-term sources of funds in the market, we should increase the financial nature of insurance funds and strategically invest in high-quality listed companies, strengthen the strength of institutional investors, and consolidate the foundation of long-term investment in the market. Fourth, in promoting the reform of state-owned enterprises and the development of private enterprises, we will accelerate the launch of a series of new measures, including promoting the reform of mixed ownership of state-owned enterprises in the capital market and supporting leading private enterprises in industrial mergers and acquisitions.We will launch a bond financing support plan and an equity financing support plan for private enterprises. Fifth, in terms of opening wider to the outside world, we will continue to open wider to the outside world in all directions and accelerate the opening up in banking, securities, insurance and other fields in accordance with the spirit of Boao’s speech. This year marks the 40th anniversary of reform and opening-up. The major policy of reform and opening-up has been decided, and the key is to implement it. Now is a critical moment when actions are better than a dozen programs. All parties should implement them more vigorously, have a stronger sense of responsibility, dare to take responsibility, act quickly, and effectively introduce some specific policies to promote the healthy development of the stock market.

　　(3)

　　Reporter: At present, private enterprises are facing some anxiety about implementing the basic economic system. What do you think of this issue?

　　Liu He: First of all, I want to emphasize that we must unswervingly implement the basic economic system and adhere to the "Two Unswervings". On the one hand, we will unswervingly consolidate and develop the public economy, on the other hand, we will unswervingly encourage, support and guide the development of the non-public economy. At present, there are some misunderstandings and deviations in the actual implementation process. For example, the business personnel of some institutions believe that it is safe to provide loans to state-owned enterprises, but it is politically risky to provide loans to private enterprises, and they would rather not do anything than make political mistakes. This kind of understanding and practice is completely wrong. We must understand this problem from the perspective of politics and the overall situation. Private economy plays an important role in the whole economic system, contributing more than 50% of tax revenue, more than 60% of GDP, more than 70% of technological innovation, more than 80% of urban employment, and more than 90% of new jobs and enterprises. Without the development of private enterprises, there will be no stable development of the whole economy; If there is no high-quality private enterprise system, there will be no modern industrial system. Supporting the development of private enterprises means supporting the development of the whole national economy. Those acts that do not support the development of private enterprises for the sake of so-called "personal safety" have great problems in political orientation and must be resolutely corrected. For private enterprises, we should emphasize "four musts": First, we must adhere to the basic economic system and give full play to the important role of small and medium-sized enterprises and private economy in China’s economic and social development.Second, we must attach great importance to the temporary difficulties faced by small and medium-sized enterprises and take accurate and effective measures to vigorously support their development. Third, we must further study the policies and measures to support the development of small and medium-sized enterprises in reducing the burden of taxes and fees, solving financing problems, improving environmental protection and improving the ability of scientific and technological innovation. Fourth, we must improve the capabilities of small and medium-sized enterprises and the private economy, constantly adapt to changes in the market environment, and strive to achieve high-quality development. Recently, the Office of the Leading Group for Promoting the Development of Small and Medium-sized Enterprises in the State Council, the All-China Federation of Industry and Commerce, etc. will go to various places to learn about the implementation of the basic economic system and the development of small and medium-sized enterprises. I hope you will give us your support.

　　(4)

　　Reporter: There is some discussion in the society about "the country advances and the people retreats". What do you think of this?

　　Liu He: The so-called argument that "the country advances and the people retreats" in society is both one-sided and wrong. Recently, some private enterprises that expanded rapidly through high debt in the early stage have encountered difficulties in liquidity because of deviating from their main business. State-owned banks or state-owned enterprises have helped or even reorganized to help private enterprises tide over the difficulties, which just reflects the interdependence and cooperation between state-owned enterprises and private enterprises. I think it is a good thing, and there is no problem of "national advancement and civil retreat". When private enterprises operate well, state-owned capital can withdraw. Conversely, if state-owned enterprises encounter difficulties, they can also actively participate in improving efficiency through private enterprises. We also encourage qualified and better private enterprises to play an active role in industrial restructuring and merge and reorganize some small and medium-sized enterprises in the same industry that have competitive potential but are currently facing difficulties.

　　It must be noted that China’s state-owned enterprises and private enterprises have formed a complete industrial chain. State-owned enterprises are mostly in the upper reaches of the industrial chain, playing a role in basic industries and heavy manufacturing industries, while private enterprises are increasingly providing manufacturing products, especially final consumer goods. The two are highly complementary, cooperative and supportive, and China’s economy will continue to improve in this direction and move towards high-quality development in the future. We must change from the traditional concept of solidification to the new concept of modern industrial chain to understand the state-owned and private economy.

　　I especially want to say that at present, China’s economy is still in the "three-phase superposition" stage, and some enterprises are facing some difficulties. This is precisely the stage where entrepreneurs can make great achievements. Entrepreneurs with courage, vision and courage should take the lead and live up to expectations. The China government will create an equal environment, strengthen the rule of law, strengthen the protection of property rights and intellectual property rights, adhere to the basic economic system, and deepen reform and opening up. There is no reason why we should not be full of confidence in the broad prospects of China’s economic development.

　　(5)

　　Reporter: What do you think of the current economic and financial situation and changes in industrial structure?

　　Liu He: I think that China’s economy has generally maintained a stable and positive basic trend. From the main indicators such as economic growth, employment, price, balance of payments, corporate profits, fiscal revenue and labor productivity, China’s economic operation is in a reasonable range. Compared with the major economies in the world, China’s economic performance is excellent, and the International Monetary Fund and the World Bank have highly praised China’s sustained economic development. From the financial field, monetary policy operates steadily, financial structural deleveraging advances steadily, the impulse of blind expansion of various institutions regardless of risks is obviously converged, and investment behavior tends to be rational. At the same time, various risks and problems accumulated in history are inevitably coming to the bottom, which is an inevitable process and should be treated rationally.

　　In view of the marginal changes in economic operation, the State Council, the CPC Central Committee, put forward the requirements of stabilizing employment, finance, foreign trade, foreign investment, and expectations, and we must resolutely implement them. Of course, in particular, we must handle the relationship between steady growth, structural adjustment and risk prevention. On the one hand, we must maintain the stability of economic growth, on the other hand, we must prevent and control financial risks and maintain the relative stability of macro leverage ratio. The key to the balance between the two is to implement a policy system with supply-side structural reform as the core. In the past three years, we have achieved phased results in "three to one, one reduction and one supplement". The international community generally believes that through "destructive innovation", the price level of some surplus areas in China’s economy has returned to equilibrium, and the relationship between supply and demand has improved significantly, thus stimulating economic growth and promoting global economic recovery.

　　The task of China’s economic restructuring has not yet been completed, and the supply-side structural reform should be further deepened. The next step should focus on enhancing the vitality, resilience and innovation of micro-subjects, thus promoting economic transformation and upgrading and promoting a virtuous circle of the national economy. We should do three things well. First, support the development of private enterprises, improve financial accessibility and reduce various burdens. Second, we should deepen the reform of state-owned enterprises, especially the reform of mixed ownership, establish a more perfect corporate governance structure, strengthen the construction of internal incentive mechanism and improve core competitiveness. Third, the financial system should improve its adaptability and enhance its ability to serve the real economy. Under the current situation, it is especially necessary to speed up the system construction and give full play to the key role of the capital market. Of course, doing these things well needs the support of sound macro policies. We will continue to implement a proactive fiscal policy, a sound monetary policy, a clear industrial investment policy, and a more inclusive and sustainable social policy to further deepen the core policy of supply-side structural reform. Analyzing the performance of China’s economy, we may feel some difficulties if we look at one thing at a time, but once we look forward to it as a historical process, the development prospect is very bright.

　　Judging from the virtuous circle of national economy, China’s economy is undergoing a structural transformation. We often say that it is changing from traditional kinetic energy to new kinetic energy. Now the market is very concerned about which direction to turn. It is complicated to describe this transformation process clearly, because it is a process of market-oriented exploration and trial and error, but from the demand direction, several points are clear. First, the huge middle-income groups in China are rising, and they are creating huge diversified demands; Second, the aging population is obvious, and it is also forming huge demand; Third, a new round of scientific and technological revolution and industrial transformation characterized by the combination of biotechnology and information technology is emerging, which requires us to propose supply-side solutions and create huge demand; Fourth, green development creates development opportunities. We should seize these directions, identify and seize new opportunities in the great historical process of industrialization, informationization, urbanization, marketization and internationalization, strive to transform traditional industries, vigorously develop new industries and accelerate the construction of a modern economic system.

　　Finally, I want to say a word. Under the leadership of the CPC Central Committee with the Supreme Leader as the core, it is a historical necessity for China to achieve peaceful development. The difficulties and problems we encounter are all difficulties and problems in progress. As long as we keep this in mind, our hearts will calm down and China’s tomorrow will be better!

China tourists affect the world economy： last year, outbound tourism and shopping reached 684.1 billion.

　　China tourists spend abroad.

　　According to the data released by the National Tourism Administration recently, in 2015, the number of trips made by China residents was 4.12 billion, equivalent to nearly three trips per person nationwide. Among them, China made 120 million outbound trips.

　　Chinese tourists

　　Contribute a lot to the world economy.

　　According to statistics, in 2015, the scale of outbound tourism shopping in China reached 684.1 billion yuan, of which the consumption of free travellers accounted for more than 80%. In terms of regional distribution, China tourists have spent more than 7,000 yuan per capita on tourism and shopping in Japan, South Korea and developed countries in Europe and America. At London Heathrow Airport, only 1% of China tourists generate 25% of duty-free sales.

　　In 2015, the per capita consumption of outbound tourists in China was as high as 11,625 yuan. Thanks to the upgrade of tourism consumption of China tourists, free travellers are willing to spend more money on shopping and tasting delicious food.

　　Nowadays, tourists in China pay more attention to tourism quality. Generally speaking, better tourism service quality requires higher consumption level. According to Wei Xiang, an associate professor in national academy of economic strategy, in northern Europe, some village homestays cost 200 euros a night, which is even more expensive than some star-rated hotels. However, for China tourists who like personalized tourism and pay attention to tourism quality, the price of these homestays is not an obstacle. The improvement of tourists’ consumption quality in China leads to a bullish total consumption.

　　Tourism investment was once a unique project for foreign tourists. For example, Gomera Island in Spain is favored by tourists from many European countries because of its pleasant climate, beautiful scenery and being far away from big cities. Nowadays, China tourists’ outbound travel is not just a holiday. More people are on holiday, and they don’t miss overseas investment opportunities.

　　Wu Ya, chief operating officer of China Business Group, said: "Some tourists go to countries such as the United States and Malaysia for vacation and feel that the local environment is very good, so they will wonder why they don’t buy real estate there instead of staying in hotels." According to Wu Adam, Chinese’s investment in the United States has exceeded $1.1 billion. It is reported that in London and Australia, because of the investment and purchase of China tourists, the house prices in some local areas have risen.

　　According to the data of the United Nations World Tourism Organization, since 2012, China has been the world’s largest consumer of outbound tourism for many years, and its annual contribution to global tourism revenue has exceeded 13%. In 2015, the number of outbound tourists and their expenses in China continued to rank first in the world, increasing by 25% over the previous year. Since the world financial crisis in 2008, China’s outbound tourism and China’s overseas investment have played an engine role in the recovery of the world economy.

　　Chinese tourists

　　Put travel safety in the first place

　　Ms. Li, a tour guide of Beijing Jin Run Sunshine International Travel Service, has many years of tour guide experience. She believes that tourists will give priority to their national security when choosing a tourist destination. She said: "If the destination country is near a war country, or there will be security risks, tourists will inevitably consider giving up or changing their itinerary. For example, after the outbreak of the South China Sea issue, the relevant routes in the Philippines were adjusted. "

　　The terrorist attacks in Paris in 2015 once cast a shadow over this romantic city. Tourism practitioners said that the competition in the European tourism market was very fierce last year, and the price was the lowest in recent years. Despite this market, after the terrorist attacks, there were seats that could not be sold for nearly two months.

　　Tamia Liu, general manager of Beijing Jin Run Sunshine International Travel Service, also summed up other safety factors that tourists consider to relocate besides wars and disputes. "Natural force majeure factors such as floods, hurricanes, typhoons, earthquakes and tsunamis will lead tourists to choose other travel destinations."

　　Chinese tourists

　　Send benefits to the destination country.

　　According to reports, the economic analysis report released by ANZ last year pointed out that Australia’s economic development benefited from the prosperity of tourism, and China was the largest source country for Australian inbound tourists. According to the survey, in the first three quarters of 2014, the number of tourists in China increased by 10% year-on-year to 736,000. As far as the travel expenses of overseas tourists are concerned, China tourists spend the most, accounting for 18% of the total overseas tourists’ expenses, far higher than Britain’s 12% and Japan’s 5%. According to the data, China tourists spend as much as A $5,416 per capita when traveling to Australia.

　　The report also pointed out that the increasing convenience of the aviation industry and Australia’s more relaxed visa policy have prompted Chinese to be keen on outbound tourism. Data show that in 2014, 107 million Chinese people chose to travel overseas. The Oxford Economic Research Institute has previously published a report, predicting that the number of tourists from China will increase by 5.1% every year in the next 10 years.

　　In order to attract China’s outbound travel market, many overseas tourist destinations have made great efforts in providing visa convenience. In the past two years, in 2014, China’s visa to the United States was valid for 10 years, and in 2015, China’s visa to Japan was opened for multiple trips.

　　Chinese tourists

　　Has become a force to be reckoned with.

　　According to data from the National Tourism Administration of the United States, in 2015, the total number of tourists from China to the United States reached 3 million, up 16% year-on-year, and the per capita consumption was 6,000 to 7,000 dollars, far exceeding other countries.

　　Gao Tianming, a special researcher at the Tourism Research Center of the China Academy of Social Sciences, cited an opposite example: "Since May this year, the number of mainland tourists has been declining by double digits because of repeated accidents of mainland tourists in Taiwan Province, which is just across the water, and in August, the number of mainland tourists dropped sharply for the first time in the same period. The industry on the island is full of sorrow and grievances. Tour bus ‘ Sunbathing ’ The closure of travel agencies and the decline in hotel reservation rate have led to the unemployment of many tour guides and the layoffs or dismissal of employees in shopping stores ‘ Unpaid leave ’ , affecting hundreds of thousands of families; Taiwan’s tourism industry was forced to form ‘ Million Tourism Industry Self-help Association ’ And marched on the streets on September 12 to protest against the inaction of the Taiwan Province authorities. "

Another SAIC car was born! Large space and high configuration

What xiaobian wants to introduce to you today is. Let’s take you to appreciate its style.

Let’s take a look at the appearance of Roewe RX9. The front face of Roewe RX9 is sharp and looks very simple. Then the exquisite headlight design is adopted, which is highly recognizable. The car is equipped with LED daytime running lights, front fog lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4983MM*1967MM*1786MM, and the car adopts hard-line lines, which gives people a very simple feeling. With large-sized thick-walled tires, it looks full of movement. Looking back, the rear of the car echoes the front face, and the taillights look very simple, creating a good atmosphere.

Sitting in the car, the overall visual effect of Roewe RX9 interior is very distinctive and the visual effect is good. The steering wheel design of the car is very concise, made of genuine leather, and has a good grip. From the central control point of view, the 12.3-inch central control screen is used for decoration, which makes the interior design quite layered and conforms to the mainstream aesthetics. Let’s take a look at the dashboard and seats again. The dashboard of this car presents a simple design style and looks strong in science and technology. The car uses leather seats, which are wide and thick, and the overall comfort is acceptable.

Roewe RX9 is matched with an automatic manual transmission (AT) gearbox, with a maximum power of 178KW and a maximum torque of 392N.m, with good power performance.

In terms of configuration, Roewe RX9 is equipped with car networking, driving mode selection, remote control key, rear wiper, interior atmosphere light and other configurations.

Summary of the full text: The Roewe RX9 introduced today is not only eye-catching in space, but also the configuration has reached the mainstream level, and there is nothing to be picky about driving experience and space experience.

The cost of ET in Star Age is visible to the naked eye.

Many netizens left messages and wanted to see it. Today it came. Let’s look down with Xiaobian.

Let’s take a look at the appearance of Star Era ET. The front face of Star Era ET looks very compact and stocky. Coupled with the simple and fashionable headlights, the momentum is quite sufficient. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4955 mm * 1975 mm * 1698 mm. The car adopts lovely lines, and the side circumference looks very fashionable and generous. With large-sized thick-walled tires, smooth lines run through the whole side of the car. In the design of the rear end, the rear end looks more fashionable and dynamic, the taillights look very deep, and the shape is more fashionable and simple.

In terms of interior, the interior design is very elegant, which is consistent with the positioning of the car. The steering wheel of the car is well designed, equipped with electric up and down+front and rear adjustment, steering wheel memory, steering wheel heating and other functions, and the grip is full and delicate. Let’s take a look at the central control, with the 15.6-inch touch-sensitive LCD central control screen, which makes the interior design quite layered and looks very delicate. Finally, let’s look at the dashboard and seats. The dashboard of the car presents a rounded design style, and the trendy design elements make people remember it at a glance. The car uses leather seats, and the seat wrapping is in place, and the overall comfort and wrapping are not bad.

Xing Ji Yuan ET matched gearbox, 413KW, 691N.m, with good power performance.

The space of ET trunk in Xingji Era is excellent as a whole, with regular shape, which is convenient for people to take their luggage. At the same time, the car is equipped with fatigue warning, anti-lock braking (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), brake force distribution (EBD) main driver airbag, co-pilot airbag, side airbag curtain, front side airbag and other safety configurations.

This class of cars can often give consideration to both cost performance and practicality, and is often considered by most consumers as the first choice when buying a car. You might as well go offline to feel it more on weekends.

The age of majority in Japan has been lowered from 20 to 18.

　　According to a report by the Japan Broadcasting Association (NHK) on January 2, since April this year, according to the amendment of Japan’s Civil Law, the age of majority in Japan has been lowered from 20 to 18, that is, 18 years old is an "adult". In addition, the marriage age of women has been raised from the previous 16 years to the same 18 years as men.

　　This is the first time that Japan has lowered the age of adulthood since 1876. As long as you are 18 years old, you can apply for credit card and loan contracts even without your parents’ consent. In addition, from the age of 18, you can complete the application for a 10-year passport in Japan; People with both Japanese and foreign nationalities can apply for nationality selection and obtain qualifications such as certified public accountants and judicial scribes.

　　On the other hand, Japan still prohibits people under the age of 20 from drinking, smoking, and participating in four kinds of public gambling, such as horse racing and bicycle racing.

　　In order to cope with the downward adjustment of the age of majority, the juvenile law has also been revised and has been implemented since April this year. People aged 18 and 19 are defined as "specific juveniles" and will continue to be protected. However, in principle, the scope of cases sent back to the procuratorate from the family court has expanded, which is somewhat different from that of people under 17. After reaching the age of 18, once sued, the media can report their real names and photos.

　　With regard to the downward adjustment of the age of adulthood, Japanese society believes that the responsibility and rights protection of juvenile offenders have also changed accordingly. (Headquarters reporter He Xinlei)

The 19th National Congress of the Communist Party of China’s Resolution on the Report of the 18th Central Committee

　　Xinhua News Agency, Beijing, October 24th

The 19th National Congress of the Communist Party of China’s Resolution on the Report of the 18th Central Committee

　　(Adopted in The 19th National Congress of the Communist Party of China on October 24, 2017)

　　The 19th National Congress of the Communist Party of China approved the report made by the Supreme Leader on behalf of the 18th Central Committee. Holding high the great banner of Socialism with Chinese characteristics, guided by Marxism–Leninism, Mao Zedong Thought, Deng Xiaoping Theory, Theory of Three Represents, Scientific Outlook on Development and Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era, the Congress analyzed the development and changes of the international and domestic situation, reviewed and summarized the work and historic changes in the past five years. He made a major political conclusion that Socialism with Chinese characteristics has entered a new era, and the main contradiction in our society has been transformed into the contradiction between the people’s growing need for a better life and the unbalanced development, profoundly expounded the historical mission of the Communist Party of China (CPC) in the new era, established the historical position of the supreme leader Socialism with Chinese characteristics Thought in the new era, and put forward the basic strategy of upholding and developing Socialism with Chinese characteristics in the new era. The goal of building a moderately prosperous society in an all-round way and starting a new journey of building a socialist modern country in an all-round way has been set, and comprehensive arrangements have been made for promoting the great cause of Socialism with Chinese characteristics and the new great project of party building in the new era. The report of the 18th Central Committee, adopted by the Congress, depicts the grand blueprint for building a well-off society in an all-round way and winning the great victory of Socialism with Chinese characteristics in the new era, further points out the direction of the cause of the party and the state, and is the crystallization of the wisdom of the whole party and people of all ethnic groups throughout the country.It is our Party’s political declaration and program of action that unites and leads the people of all ethnic groups throughout the country to uphold and develop Socialism with Chinese characteristics in the new era, and it is a programmatic document of Marxism.

　　The conference held that the theme of the conference expounded in the report is of great significance to our party leading the people to work hard and forge ahead. The whole Party should not forget its original intention, keep in mind its mission, hold high the great banner of Socialism with Chinese characteristics, win the decisive battle to build a well-off society in an all-round way, win the great victory of Socialism with Chinese characteristics in the new era, and make unremitting efforts to realize the Chinese dream of the great rejuvenation of the Chinese nation.

　　The Congress spoke highly of the work of the 18th Central Committee. The five years since the 18th National Congress of the Communist Party of China have been extraordinary in the development of the Party and the country, and historic achievements have been made in reform, opening up and socialist modernization. In the past five years, with great political courage and strong responsibility, the CPC Central Committee with the Supreme Leader as the core has put forward a series of new ideas, new ideas and new strategies, introduced a series of major principles and policies, launched a series of major initiatives, promoted a series of major tasks, solved many problems that have been tried for a long time but not solved, and achieved many major events that were tried but failed in the past, which has promoted historic changes in the cause of the party and the state. The CPC Central Committee with the Supreme Leader as the core bravely faced the great risk test faced by the Party and the outstanding problems existing in the Party, corrected the wind and discipline, combated corruption and punished evil with tenacious will, eliminated the serious hidden dangers existing in the Party and the country, renewed the atmosphere of political life within the Party, significantly improved the political ecology within the Party, significantly enhanced the creativity, cohesion and combat effectiveness of the Party, consolidated the unity and unity of the Party, significantly improved the relationship between the Party and the masses, and made the Party stronger in revolutionary forging, giving off new and powerful vitality. The achievements in the past five years are all-round and groundbreaking, and the changes in the past five years are deep-seated and fundamental.

　　The Congress emphasized that after long-term efforts, Socialism with Chinese characteristics has entered a new era, which is a new historical orientation for China’s development. Socialism with Chinese characteristics has entered a new era, and the main contradiction in our society has been transformed into the contradiction between the people’s growing need for a better life and the unbalanced development. The change of the principal contradiction in our society is a historic change that concerns the overall situation and puts forward many new requirements for the work of the party and the state. On the basis of continuing to promote development, we should focus on solving the problem of insufficient development imbalance, vigorously improve the quality and efficiency of development, better meet people’s growing needs in economy, politics, culture, society and ecology, and better promote people’s all-round development and social progress.

　　The congress emphasized that around answering the important issues of the new era, such as what kind of Socialism with Chinese characteristics to uphold and develop and how to uphold and develop Socialism with Chinese characteristics, our party deepened its understanding of communist party’s ruling law, socialist construction law and human social development law with a brand-new vision, made arduous theoretical exploration, made great theoretical innovations, and founded the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era. Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era is the inheritance and development of Marxism–Leninism, Mao Zedong Thought, Deng Xiaoping Theory, Theory of Three Represents and Scientific Outlook on Development, the latest achievement of Marxism in China, the crystallization of the practical experience and collective wisdom of the Party and the people, an important part of Socialism with Chinese characteristics’s theoretical system, and an action guide for the whole party and people to realize the great rejuvenation of the Chinese nation, which must be adhered to and continuously developed for a long time.

　　The congress emphasized that we should adhere to the Party’s leadership over all work, take the people as the center, deepen reform in an all-round way, adhere to the new development concept, adhere to the people being the masters of the country, adhere to the comprehensive rule of law, adhere to the socialist core value system, adhere to the protection and improvement of people’s livelihood in development, adhere to the harmonious coexistence between man and nature, adhere to the overall national security concept, adhere to the Party’s absolute leadership over the people’s army, adhere to "one country, two systems" and promote the reunification of the motherland, persist in promoting the building of a community of human destiny, All comrades in the Party must fully implement the Party’s basic theory, line and strategy, and better lead the development of the cause of the Party and the people.

　　The congress pointed out that from now until 2020, it is the decisive period for building a well-off society in an all-round way. In accordance with the requirements for building a well-off society in an all-round way put forward by the 16th, 17th and 18th National Congress, we should focus on the key points, fill shortcomings, strengths and weaknesses, and especially resolutely fight the tough battles of preventing and resolving major risks, accurately lifting poverty and preventing pollution, so that building a well-off society in an all-round way can be recognized by the people and stand the test of history.

　　The Congress held that the period from the 19th National Congress to the 20th National Congress was the historical intersection of the goal of "two hundred years". We should not only build a well-off society in an all-round way and achieve the goal of the first century, but also start a new journey of building a socialist modern country in an all-round way and March towards the goal of the second century. A comprehensive analysis of the international and domestic situation and China’s development conditions can be divided into two stages from 2020 to the middle of this century. In the first stage, from 2020 to 2035, on the basis of building a well-off society in an all-round way, we will struggle for another fifteen years and basically realize socialist modernization. In the second stage, from 2035 to the middle of this century, on the basis of basically realizing modernization, we will strive for another fifteen years to build China into a prosperous, strong, democratic, civilized, harmonious and beautiful socialist modernization power.

　　The congress agreed to report on the deployment of China’s socialist economic construction, political construction, cultural construction, social construction and ecological civilization construction. The congress stressed that it is necessary to implement the new development concept, build a modern economic system, adhere to quality first and benefit first, take supply-side structural reform as the main line, promote quality change, efficiency change and power change of economic development, make efforts to accelerate the construction of an industrial system with coordinated development of real economy, scientific and technological innovation, modern finance and human resources, and make efforts to build an economic system with effective market mechanism, dynamic micro-subjects and moderate macro-control, so as to continuously enhance China’s economic innovation and competitiveness. It is necessary to deepen the supply-side structural reform, accelerate the construction of an innovative country, implement the rural revitalization strategy, implement the regional coordinated development strategy, accelerate the improvement of the socialist market economic system, promote the formation of a new pattern of comprehensive opening up, and strive to achieve higher quality, more efficient, fairer and more sustainable development. It is necessary to improve the system of people being masters of the country, develop socialist democratic politics, adhere to the organic unity of party leadership, people being masters of the country and governing the country according to law, strengthen the guarantee of the system of people being masters of the country, give play to the important role of socialist deliberative democracy, deepen the practice of governing the country according to law, deepen the reform of institutions and administrative systems, consolidate and develop the patriotic United front, and consolidate and develop a lively, stable and United political situation. We must strengthen cultural self-confidence, promote the prosperity of socialist culture, firmly grasp the leadership of ideological work, cultivate and practice socialist core values, strengthen ideological and moral construction, and prosper and develop socialist literature and art.Promote the development of cultural undertakings and cultural industries, and stimulate the cultural innovation and creativity of the whole nation. We should improve people’s livelihood, strengthen and innovate social governance, grasp the most direct and realistic interests of the people, give priority to the development of education, improve the quality of employment and people’s income, strengthen the construction of social security system, resolutely win the battle against poverty, implement the healthy China strategy, create a social governance pattern of co-construction, co-governance and sharing, effectively safeguard national security, and make people’s sense of acquisition, happiness and security more substantial, secure and sustainable. It is necessary to speed up the reform of ecological civilization system, build a beautiful China, promote green development, focus on solving outstanding environmental problems, increase the protection of ecological systems, reform the ecological environment supervision system, and promote the formation of a new pattern of harmonious development and modernization between man and nature.

　　The Congress stressed that in the face of profound changes in the national security environment and the requirements of the times to strengthen the country and the army, we must adhere to the road of strengthening the army with China characteristics, comprehensively implement the thought of strengthening the army by the supreme leader, implement the military strategic policy under the new situation, build a powerful modern army, navy, air force, rocket army and strategic support force, build a strong and efficient theater joint operational command organization, build a modern operational system with China characteristics, comprehensively promote the modernization of national defense and the army, and build the people’s army into a world-class army.

　　The congress stressed that to maintain the long-term prosperity and stability of Hong Kong and Macao, we must comprehensively and accurately implement the principles of "one country, two systems", "Hong Kong people ruling Hong Kong" and "Macao people ruling Macao" and a high degree of autonomy, and act in strict accordance with the Constitution and the Basic Law, so that Hong Kong and Macao compatriots can share the historical responsibility of national rejuvenation with the people of the motherland and share the great glory of the motherland’s prosperity and strength. We must continue to adhere to the principle of "peaceful reunification and one country, two systems", expand cross-strait economic and cultural exchanges and cooperation, urge compatriots on both sides of the strait to jointly promote Chinese culture, promote the peaceful development of cross-strait relations, and advance the process of peaceful reunification of the motherland. No one, any organization, any political party will be allowed to split any piece of China territory from China at any time and in any form.

　　The General Assembly agreed with the report’s analysis of the international situation and the proposed foreign policy, and stressed that China will adhere to the path of peaceful development, hold high the banner of peace, development, cooperation and win-win, abide by the foreign policy purpose of safeguarding world peace and promoting common development, unswervingly develop friendly cooperation with other countries on the basis of the Five Principles of Peaceful Coexistence, actively promote the "Belt and Road" international cooperation, and continue to actively participate in the reform and construction of the global governance system. We will promote the building of a new type of international relations featuring mutual respect, fairness, justice, win-win cooperation, build a community of human destiny, and work with people all over the world to build a world of lasting peace, universal security, common prosperity, openness, tolerance, cleanliness and beauty.

　　The conference emphasized that it is necessary to strike while the iron is hot. To unite and lead the people in the great struggle, advance the great cause and realize the great dream, the Party must unswervingly uphold and improve its leadership and unswervingly build the Party stronger. The general requirements for party building in the new era are: upholding and strengthening the party’s overall leadership, upholding the party’s management of the party and strictly administering the party in an all-round way, taking strengthening the party’s long-term ruling ability, advancement and purity as the main line, taking the party’s political construction as the guide, taking the firm ideals and beliefs as the foundation, focusing on mobilizing the enthusiasm, initiative and creativity of the whole party, and comprehensively promoting the party’s political construction, ideological construction, organizational construction, work style construction and discipline construction. We should run the system construction through it, deepen the anti-corruption struggle, continuously improve the quality of Party building, and build the Party into a Marxist ruling party that is always in the forefront of the times, wholeheartedly supported by the people, brave in self-revolution, able to withstand all kinds of storms and tests, and full of vitality.

　　The congress stressed that the party’s political construction should be given priority. The whole party must enhance its political awareness, overall awareness, core awareness and conformity awareness, uphold the authority and centralized leadership of the CPC Central Committee, firmly implement the party’s political line, strictly abide by political discipline and rules, and maintain a high degree of consistency with the CPC Central Committee in political stance, political direction, political principles and political road.

　　The Congress called on the whole Party and people of all ethnic groups to closely unite around the CPC Central Committee with the Supreme Leader as the core, hold high the great banner of Socialism with Chinese characteristics, conscientiously study and implement the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, forge ahead with determination, work hard, and continue to struggle for the three historical tasks of promoting modernization, completing the reunification of the motherland, safeguarding world peace and promoting common development, winning the victory in building a well-off society in an all-round way, winning the great victory in Socialism with Chinese characteristics in the new era, realizing the Chinese dream of great rejuvenation of the Chinese nation and realizing the people’s yearning for a better life!

Quick-frozen food enterprises intensively adjust the distribution price, and the terminal price is difficult to shake under the ＂involution＂ of the industry.

"The price of bulk raw materials was rising last year. Everyone has been squatting for a year and can’t hold back this year." Over the past month, leading quick-frozen enterprises such as Anjing Food, Haixin Food, Sanquan Food and Qianweiyang Kitchen have intensively adjusted their distribution prices. Fang Qizhi, the head of a quick-frozen food enterprise in Southwest China, said one of the reasons. Several companies have reduced their promotion policies or raised their distribution prices, and the reasons also include the continuous increase in labor, transportation and energy costs.

　

According to quick-frozen industry insiders, the Beijing News reporter revealed that despite the pressure, the terminal price of quick-frozen food is hard to shake in a short time. On the one hand, the gross profit space of quick-frozen food is limited, and dealers and consumers are more sensitive to the price; On the other hand, in recent years, the quick-frozen food market has been "involuted" seriously, and the product price has gone down. It has entered an "infinite cycle" of declining purchasing power, low-price competition of brands, cost reduction by raw material substitution, product quality decline and customer loss, and the industry reshuffle is imminent.

　

Compared with the surge in demand for quick-frozen food brought by home epidemic prevention last year, the growth rate of quick-frozen food enterprises has dropped significantly this year. In order to cope with the industry dilemma, leading enterprises have diversified their investment layout, and some regional brands are also developing new snacks and new channels such as e-commerce, convenience stores and catering.

Some brands of quick-frozen products are selling at promotional prices.

Intensive price adjustment of quick-frozen enterprises

　

On December 1st, Qianweiyang Chef, the "first stock in the quick-frozen supply chain", issued a price adjustment announcement, saying that in view of the rising costs of raw materials, labor, transportation and energy, it was decided to reduce the product promotion policy of some quick-frozen rice and flour products or raise the distribution price, with the price adjustment range ranging from 2% to 10%. The new price will be implemented according to the price adjustment notice of each product from December 25th, 2021.

　

Also due to the rising cost, Anjing Food announced the price adjustment as early as November 1, reducing the promotion policies of some quick-frozen surimi products, quick-frozen dishes and quick-frozen rice and flour products or raising the distribution price, with the price adjustment ranging from 3% to 10%. Since then, Haixin Food and Sanquan Food have followed suit, and the reasons, scope and range of price adjustment are almost the same.

　

In addition to these listed companies, Miss Food BP Division recently issued a "Notice of Price Adjustment of Product Policy" to customers, claiming that the cost of enterprises has increased, and the promotion policies of some products have been appropriately reduced by about 5% since December 16. According to the Beijing News reporter’s verification, Missing Food has not adjusted the product distribution price yet.

　

The price adjustment range is difficult to offset the cost pressure.

　

In Fang Qizhi’s view, even if the distribution price is raised by 3%-10%, it is difficult to cover the cost pressure. According to his understanding, since the beginning of this year, the prices of raw materials such as edible oil, condiments, rice, meat, vegetables and food additives used in the production of quick-frozen foods have been rising. "The price of palm oil has doubled compared with previous years, sugar has increased by 50%, soy sauce has increased by 8%-10%, and flavors and fragrances have also increased. The price of pork has decreased compared with last year, but it is also at a relatively high level compared with previous years. "

　

At the same time, the labor cost of Fang Qizhi’s quick-frozen enterprise is also rising at a rate of 5%-8% per year. "Take the meal fee as an example. In the past, a meal cost 10 yuan. Now, if you want to maintain the same standard, the cost will increase by 20%-30%."

　

The increase in cost is reflected in the financial reports of several listed companies of frozen food. In the first half of 2021, raw materials, direct labor and manufacturing expenses in Sanquan Food increased by 6.71%, 15.79% and 18.86% respectively. Among them, the cost of raw materials accounts for the highest proportion of its operating costs, reaching 79.21%. Haixin Food lost 24,021,500 yuan in the first half of the year. Apart from the influence of channels and competition, its capacity utilization rate was insufficient, and the increase in unit manufacturing cost, material cost and labor cost further lowered its gross profit margin.

　

Anjing Food once mentioned in the semi-annual report in 2021 that in recent years, the cost of meat, minced fish, flour and cartons has increased, the freight per unit product has increased, and the wages of employees have risen rigidly, which has led to the increasing operating costs of enterprises. Although the company has controlled the cost increase through a series of efficiency measures, it can’t completely offset the pressure brought by inflation on the efficiency of enterprises.

　

The terminal price is still difficult to shake.

　

Based on comprehensive accounting, the overall cost of Fang Qizhi’s quick-frozen enterprise has increased by 20%-30% this year, but he bluntly dares not adjust the price, mainly because the market is "involuted", product prices are lower and business is not good.

　

In southwest China, Fang Qizhi’s frozen food enterprise has a certain scale, which can compete with national industry giants. "Although the brand value of the giants is greater than ours, there was no market conflict between us before, but now there is a conflict, because their prices are cheaper than ours when raw materials are rising."

　

Fang Qizhi said frankly that quick-frozen foods are "mass goods", and the gross profit space is relatively small. Dealers and consumers are more sensitive to prices, so it is not easy to adjust the price at the terminal. "Every brand has a price anchor, that is, the price range recognized by consumers. For example, consumers recognize that the price of your dumplings is 10 yuan. Once you sell one or two yuan more, consumers will turn to other brands. "

　

The relevant person in charge of a quick-frozen noodle rice food enterprise in Henan also confirmed to the Beijing News reporter that from the perspective of the national market, the brands of quick-frozen dumplings are mainly Sanquan, Missing and Wanchai Wharf. Due to the concentration of brands and the serious homogenization of products, once the price adjustment of a single brand is more obvious at the terminal, consumers are likely to turn to other low-priced brands.

　

On December 8, the Beijing News reporter visited some supermarkets in Beijing and found that the price increase of frozen products of various brands is not obvious at present, and some products have also made promotional prices. For example, in the Souxiu City store of Yonghui Supermarket, the price of Miss 1000g family-packed quick-frozen dumplings is only 11.9 yuan/bag, and the promotional price of Sanquan champion tomato beef, beef green onion and three fresh dumplings is 12.9 yuan/bag. In Shuntianfu Supermarket, Sanquan Dumplings will play a 20% discount promotion.

The trace of price increase of quick-frozen products is not obvious.

Mr. Li, the manager of a supermarket store, told the Beijing News reporter that he has not received the price adjustment letter from the quick-frozen food company. "The brand wants to raise the price, and our purchasing department will stabilize the price, either by changing manufacturers or brands, or by holding down the price through negotiations. Therefore, it is very difficult for the terminal to raise the price, and the price increase is also a few products that sell slowly, such as abalone flavor and lobster flavor, which will increase by one or two yuan. But whenever it sells fast, the people are used to it, and the price will suddenly rise, which will be very sensitive. "

　

Judging from the announcements of several quick-frozen listed companies, most of them adjust the distribution price and promotion policy, without mentioning the terminal price, but some enterprises have suggested risks to the possible effects of price adjustment. Both Anjing Food and Sanquan Food reminded in the announcement of price adjustment that this price adjustment may have a certain impact on market sales, and the impact on the company’s future performance is uncertain. Haixin Food also said that adjusting the product sales price will help improve the company’s profitability, but there is uncertainty about the impact on product sales and the duration of new sales price, and there is a risk that product prices will continue to fluctuate.

　

Industry reshuffle accelerated

　

In the case that the terminal price is still difficult to shake, Fang Qizhi believes that the brand price adjustment compresses the dealer’s gross profit. "Now the dealers are generally in a bad mood and the goods are not easy to sell. They are all compressing costs and looking for increments." For brands, the main way to reduce costs is to coordinate with suppliers to reduce the price increase, and the other way is to substitute raw materials, but this will undoubtedly reduce the quality of products and ultimately affect sales.

　

According to him, at present, some quick-frozen food enterprises will replace pork with chicken to reduce costs and maintain low terminal prices. "Consumers who recognize quality can eat it, so some brands maintain low prices and lose some customers, and some customers simply won’t eat frozen products."

　

"This year is a year of concentrated price adjustment in the industry. This cost-driven price adjustment is to some extent a guarantee for industry upgrading and product quality." A person in the quick-frozen industry believes that, on the whole, quick-frozen enterprises are reluctant to adjust the terminal price, but in the case of rising costs, maintaining low prices is likely to have the problem of raw material substitution, which is not conducive to consumers buying genuine products.

　

For the trend of low-price competition in the past two years, Fang Qizhi believes that it is related to external factors such as the impact of the epidemic and the decline in purchasing power. "Encourage manufacturers to go to low-end products, the price will be involved, the quality will be reduced, and consumers will abandon the brand because of the reduced quality, which will become an infinite loop. In the past two years, the industry has entered a reshuffle period, depending on who can survive. "

　

In fact, the "involution" of the quick-frozen food industry is particularly obvious this year. Compared with the surge in demand for quick-frozen food brought by home epidemic prevention last year, the growth rate of quick-frozen food enterprises has dropped significantly this year. Among the five listed frozen food enterprises that announced the semi-annual report in 2021, Sanquan Food’s net profit decreased by 38.55%; Haixin Food and Huifa Food suffered losses, and their net profit decreased by 156.4% and 1060.09% respectively.

Combined with various financial reports, it can be found that the revenue scale of quick-frozen food in traditional supermarkets is declining, and the business growth rate in restaurants, distribution, e-commerce, special channels, community group buying, hot pot food specialty stores and other channels is accelerating, but the low-price competition in community group buying has lowered the average unit price per ton of sales, with the proportion of high-end products decreasing and the proportion of low-end products increasing.

　

Multi-layout seeking change

　

Fang Qizhi judged that it will take several years for this round of quick-frozen industry reshuffle, and brands that can survive need to embrace new channels such as e-commerce, convenience stores and catering. "Only when you have a volume can you survive, and the capital to survive is to make the products exquisite and cutting-edge, and to make the sub-categories the best." At present, Fang Qizhi’s company has developed 300 or 400 SKUs, and the snack-type quick-frozen noodle rice products have opened up the situation in the e-commerce channel. "Snacks are mainly breakfast scenes, which are not as large as jiaozi, but they are incremental products, which can help increase turnover and share expenses."

　

Although this year’s profit growth has declined year-on-year, the scale of the quick-frozen food industry continues to expand, and several leading enterprises have also made diversified investment layouts.

　

In the first half of this year, Anjing Food formulated the product strategy of "main food comes into the market", which increased the promotion of dishes and products, and the category of "Mr. Frozen Products" and shrimp slippery increased greatly. At the same time, Anjing Food continued to promote the layout of "selling real estate", acquired 70% equity of British quick-frozen food enterprises and 90% equity of Xinhongye Food, and laid out the upstream raw material freshwater fish paste industry and quick-frozen seasoning crayfish dishes.

　

Haixin Food is also laying out the business of quick-frozen prefabricated dishes. In the first half of this year, its sales revenue of quick-frozen dishes was 4,653,800 yuan. Sanquan Food, on the other hand, has attracted investors’ attention because of its investment in the "Pot Circle", a special hot pot food store, and the right to operate 7-11 Henan convenience store chain. Some insiders have judged that hot pot Castroni is a new track for quick-frozen food enterprises, and the "pot ring" invested by Sanquan has had a certain impact on the sales of some frozen surimi and meat products enterprises.

　

Different from the traditional quick-frozen food enterprises, Barbie Foods, the first stock of steamed stuffed bun, mainly sells its quick-frozen food by self-supporting or joining breakfast shops. In the first half of 2021, Babi Food achieved performance growth, which not only benefited from the increase in the number of stores and the order amount of a single store, but also had a great relationship with the investment in Dongpeng Beverage, a subsidiary of Dongpeng Special Drink. In May this year, Dongpeng Beverage went on the market, and Barbie Foods indirectly held Dongpeng Beverage through Tianjin Junzheng Investment Management Partnership, resulting in a fair value change income of nearly 200 million yuan.

　

(Fang Qizhi is a pseudonym in the text)

　

Beijing News reporter Guo Tie Photography Guo Tie

Editor Li Yan proofreads Lin Zhao.

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