Wuxi Economic and Technological Development Zone issues low-interest consumer loans, only those who buy a new house can apply
- Wuxi Economic Development Zone has also launched a new house purchase policy. In addition to the common high-end talents without restrictions on purchases and housing subsidies, it has also innovatively launched a “preferential credit policy for house purchases” – providing two-employee families and single-employee families who purchase houses in the Economic and Technological Development Zone. Low-cost consumer loans over RMB 500,000 and RMB 300,000.
- Consumption loans and house purchases have always been closely related, but before that, most of them were “buyers misappropriated consumption loans and used them as a down payment to buy a house”.
- With the rapid rise in housing prices, “down payment loans” appeared around 2014, and after being suspended in 2016, they were converted to “consumer loans” and other forms;
- In 2017, the regulatory authorities issued a document strictly prohibiting consumer loans from flowing into the property market, including that over 300,000 consumer loans cannot be directly credited to the account; in 2020, the personal consumption loan limit will be reduced from 300,000 yuan to 200,000 yuan, and the usage will be strictly controlled.
- This time, Wuxi Economic and Technological Development Zone linked “buying a house” with “consumption loan”, emphasizing that it is to ensure that the quality of life of families does not decline after purchasing a house; however, no matter how the funds go, the household debt ratio will increase.
- By the end of 2021, the average residential price in Wuxi will be 23,000 per square meter. According to the estimation of the Bureau of Statistics, for a house with an area of 100 square meters, 30% of the down payment is equivalent to 50.5 months’ income of a dual-earner family in Wuxi. Hangzhou, Ningbo and Hefei were 88, 61 and 51 months respectively.
- At the end of 2020, each household in Wuxi had an average of 410,000 yuan in deposits and 240,000 yuan in loans (including 198,000 yuan in medium and long-term loans), with a debt ratio of about 58.24%. During the same period, Shenzhen was 135%, Zhuhai 138%, Chengdu 66.7%, and Ningbo 109%.
HowNet was investigated, is the “perfect” business model over?
On May 13, the State Administration for Market Regulation filed an investigation into CNKI’s suspected monopolistic behavior. The notice from the General Administration was very short, with a total of 31 words, and did not disclose the specific behavior of CNKI’s suspected monopoly. Earlier, the State Administration for Market Regulation said that it involved “choose one” and other behaviors when investigating Alibaba and Meituan.
CNKI itself is a knowledge infrastructure project in China, and its clients include universities, scientific research institutions, and government agencies. These factors give CNKI a natural competitive advantage over its peers. Its sources of income include paper duplication checking, paper downloads, etc. On the enterprise credit information platform “Tianyancha”, CNKI entities have stood in the plaintiff’s box 231 times and the defendant’s box 968 times. Almost all because of copyright disputes.
After being filed for investigation this time, CNKI said, “Take this investigation as an opportunity to conduct in-depth self-examination, comprehensive self-examination, thorough rectification, and operation in compliance with laws and regulations…” The website is also introspecting, and is studying to optimize and improve its business model, and actively carry out rectification. CNKI will disclose relevant rectification measures to the public at appropriate times and respond accordingly.”
Brian Nosek, director of the Open Science Center at the University of Virginia, once said that “scholarly publishing is the perfect business model for making big money,” not only because the researchers (maybe even the same people) produce and consume the content, And “they probably don’t know anything about the market pricing of copyright”.
Take CNKI’s “acquisition” and “sale” papers as an example. It buys out papers at one time and sells them on a per-view basis. A business model similar to virtual goods, with extremely high marginal benefits. The purchase price of the doctoral dissertation is 400 yuan for CNKI reading card and 100 yuan in cash, and the purchase price for master’s thesis is 300 yuan for CNKI reading card and 60 yuan in cash. Sales are charged at RMB 7.5/copy for master thesis and RMB 9.5/copy for doctoral dissertation. The remuneration has not been adjusted.
In 2021, CNKI’s revenue is 1.289 billion yuan, gross profit margin is 53.35%, and it contributes 193 million yuan to the parent company’s net profit.
Ding Maozhong, director of the Competition Law Research Center of Shanghai University of Political Science and Law, once told the Legal Daily that compared with the value of master’s thesis and doctoral thesis, CNKI’s remuneration standard is very low, and there should be a great suspicion of abuse of market dominance.
The academic monopoly represented by CNKI is a global issue. Elsevier, one of the largest academic publishing institutions in the world, has been unsubscribed from journal libraries by more than 200 universities and colleges around the world since 2017.
Consumer coupons have been restarted in many places, and at least 3.4 billion yuan have been issued during the year
- According to the “Chengdu Release”, the Chengdu Municipal Government plans to issue 600 million yuan of consumer coupons in two batches, mainly for the retail and catering industries, but the details have not yet been announced.
- If calculated according to “full 200-50”, 600 million yuan of consumer coupons is expected to bring 2.4 billion yuan of income to merchants; the total retail sales of social consumption in Chengdu in March was 83.3 billion yuan.
- Since the beginning of this year, many provinces and cities have re-launched consumer coupons. According to incomplete statistics, from January to April, more than 20 provinces and cities issued consumer coupons totaling 3.4 billion yuan; more coupon issuance is expected to continue until May to June.
- Shenzhen will issue more than 500 million consumer coupons through platforms such as JD.com and Meituan from April 28 to June 30;
- Guangzhou issued 100 million yuan of consumer coupons in May. In addition to offline catering retail, it also targeted support for local e-commerce Vipshop;
- The issuance of vouchers in the Yangtze River Delta region is generally stronger; around May 1st, Ningbo and Jinhua each issued 300 million yuan, and Shaoxing issued 100 million yuan, and cultural tourism is one of the key investment industries;
- On April 11, Jilin Province required cities and counties to actively launch consumer coupons after the epidemic, but it has not yet been implemented;
- Jiangmen in Guangdong, Luohe in Henan, Huishan in Wuxi and other places issued consumer coupons to home buyers.
- The recovery period after each round of the epidemic is a period of intensive issuance of consumer coupons in many places. The highest concentration was in the second quarter of 2020.
- At that time, the total retail sales of social consumption in the first quarter decreased by 19% year-on-year. In March, high-level executives issued the “Implementation Opinions on Promoting Consumption Expansion and Quality Improvement and Speeding up the Formation of a Strong Domestic Market”;
- As of the beginning of May of that year, 28 provinces and more than 170 prefectures and cities had issued more than 19 billion yuan of consumer coupons, of which Wuhan issued 500 million yuan in mid-April, and Beijing began to issue 12.2 billion yuan of consumer coupons in June.
- In the first quarter of this year, the total retail sales of social consumer goods nationwide was 10.87 trillion yuan, a year-on-year increase of 3.3%, but the total in March was 3.4 trillion yuan, a year-on-year decrease of 3.5%. On April 25, the State Council issued the “Opinions on Further Unleashing Consumption Potential and Promoting Continued Recovery of Consumption”.
U.S. and ASEAN hold special summit to discuss cooperation in economic, maritime, public health and other fields
- From the 12th to the 13th local time, the US-ASEAN Special Summit was held at the White House for the first time. US President Biden and the leaders of the eight ASEAN countries attended the meeting. Biden announced that he would invest 150 million US dollars in ASEAN for clean energy, maritime security, health care and other fields.
- Topics of the summit include economic, maritime, health care cooperation, climate change, clean energy transition, sustainable infrastructure construction, etc.
- At the US-ASEAN Summit in October last year, Biden also announced that he would invest $102 million in ASEAN for health care, climate, education and other fields. Going forward, the former US president has been absent from the summit for three consecutive years.
- ASEAN (Association of Southeast Asian Nations) was established in 1967 and currently has 10 member countries, including Singapore, Indonesia, Malaysia, Thailand, Vietnam, the Philippines, Laos, Cambodia, Brunei, and Myanmar; covering a population of 670 million. seen as the next emerging market.
- China and the United States are ASEAN’s top two trading partners. In 2021, the total trade volume between China and ASEAN will be US$878.21 billion (YoY+28.1%), and the US and ASEAN will be US$379 billion (YoY+23.5%);
- Among them, China’s exports to ASEAN were US$483.7 billion (YoY+26.1%) and imports were US$394.51 billion (YoY+30.8%);
- The United States exported $93.84 billion to ASEAN (YoY+23%) and imported $285 billion (YoY+23.6%).
- China and the United States are also the top two sources of investment in ASEAN. In 2020, the United States invested $34.7 billion in ASEAN, and China invested $12 billion in ASEAN. China’s investment in ASEAN will rise to US$14.35 billion in 2021.
- The China-ASEAN Free Trade Area was launched in 2010 and is currently one of the three major regional economic cooperation areas in the world (the other two are the European Union and the North American Free Trade Area).
- In 2020, mechanical and electrical products will account for more than 50% of the total import and export volume of the two sides. China’s exports of industrial raw materials to ASEAN, such as textile fabrics and steel, are growing well; ASEAN’s exports of agricultural products, rubber, and fossil energy to China are growing rapidly.
CHART OF THE DAY
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OTHER NEWS
“Waidian Finance” Exclusive | Dingding’s layoff ratio is less than 30%.
Yesterday, it was reported that Dingding laid off 30% of the staff, which may become the BU with the highest layoff ratio in Ali Group so far this year. Relevant persons told Late Finance that the proportion of layoffs is not as exaggerated as 30%. According to Sina Technology, people close to Dingding said that this time it was not a major layoff, but the company’s routine fiscal year performance appraisal replacement and business adjustment came together, and the overall adjustment ratio was less than 10%.
Kuaishou E-commerce plans to support 500 brands this year, and those with more repeat customers and more comments are more likely to gain traffic tilt.
Kuaishou E-commerce mainly promoted the concept of “trusted e-commerce” at today’s “Gravity Conference”, emphasizing that the new e-commerce is a trust-centered online shopping live broadcast. They will provide more traffic and support for credible merchants, and the criteria for screening merchants include repeat customer index and customer reviews. Kuaishou plans to cultivate more than 500 Kuaishou brands this year. Last year, the GMV of Kuaishou e-commerce was 680 billion yuan. Previously, “LatePost” was the first to report that Kuaishou’s GMV target for this year was 1,000 billion.
In the ten years of HEYTEA, the founder Nie Yunchen said, “In the next ten years, my heart will still be hot.”
In the macro headwind environment, HEYTEA has spent its tenth year in business. According to public information, it opened on May 12, 2012 in Jiuzhong Street, Jiangmen, Guangdong under the name of Royaltea, and later changed its name to HEYTEA for trademark reasons. The founder, Nie Yunchen, posted on a circle of friends on May 13, saying, “It’s been ten years like this. ‘Fifty years of life are like dreams and illusions.’ In the next ten years, my heart will still be hot.”
Shenzhen’s fiscal revenue in April was 44% lower than last year.
According to data from the Shenzhen Municipal Bureau of Finance, Shenzhen’s general public budget revenue in April was 25.53 billion yuan, 44% lower than April last year and 28.9% lower than the same period in 2020. Affected by this, Shenzhen’s fiscal revenue fell by 12.6% in the first four months of this year. The Shenzhen Municipal Bureau of Finance explained that the main reason is the policy reduction caused by the central government’s implementation of combined tax and fee support policies such as the VAT credit rebate and the tax deferral for manufacturing small, medium and micro enterprises since April 1. (Reference reading: “Waidian Finance” reported this week that “Suzhou’s general public budget revenue in April was only half of last year’s” )
Jilin reported for the first time that there were no new local new coronavirus infections in a single day, the first time since March 1.
Today, the Jilin Provincial Health and Health Commission reported that there were no new local confirmed cases and asymptomatic infections in Jilin Province on May 12, the first time since this round of the epidemic. At the same time, it was notified that 36 new cases were discharged on the same day, and 67 cases were released from isolation.
To save costs, Twitter is also adjusting its hiring plans.
The company is suspending hiring to save costs, except for key positions, according to an internal notice on Twitter. The company also plans to reduce operating expenses such as office costs, such as office rental costs, infrastructure, travel and event costs. Twitter said it will not lay off workers for the time being. Previously, Apple had slowed down the recruitment of technical support positions in order to cut costs, and Meta and Uber have also successively scaled down their recruitment plans.
The demand for flexible office has increased, and the shared office company WeWork has reduced its loss by nearly 80% year-on-year in the first quarter.
WeWork’s desk sales in the first quarter reached 211,000 units, the highest quarterly sales since 2020. Revenue increased by 28% year-on-year to US$765 million, with a net loss of US$504 million. The loss narrowed significantly year-on-year (loss of 2.1 billion in the previous year). Dollar). Management said that while inflation and wars in Eastern Europe will make some potential tenants more cautious, this is conducive to the development of flexible businesses, with more companies willing to rent offices on short-term rather than long-term leases. The company expects revenue for the quarter to be between $825 million and $775 million to $825 million.
Tencent may abandon the acquisition of Black Shark.
It is reported that Tencent has abandoned the acquisition of game mobile phone maker Black Shark Technology because it has not been approved. In January of this year, it was reported that Tencent acquired Black Shark Technology. According to Peng Mei News, people familiar with the matter said that Tencent has indeed invested in Black Shark Technology, but did not respond to whether to suspend the acquisition.
Volkswagen raised its global EV production target for 2023.
Volkswagen announced on the 13th that it plans to produce 800,000 pure electric vehicles globally this year, and is expected to produce 1.3 million vehicles in 2023. Volkswagen’s goal in January was to build 900,000 vehicles by 2023.
BMW will adopt low-cost batteries developed by partners in 2025.
According to media reports, BMW plans to use cylindrical batteries instead of square batteries on its electric vehicle platform in 2025 because of rising raw materials. Cylindrical batteries have relatively lower packaging costs, higher battery yields, and larger heat dissipation areas. The new battery will be manufactured by an existing partner rather than BMW’s own development, according to people familiar with the matter. In January this year, BMW executives said that BMW will not build its own battery capacity in the next few years. “The company is building an experimental factory to support individual battery packs, but it will not be mass-produced until the technology is mature.”
Coach’s parent company expects a 35% drop in revenue in Greater China for the quarter.
Coach parent company Tapestry expects revenue in Greater China to drop 35% in the current quarter (ended July 2), assuming Shanghai is lifted in early June. But the company is very confident about the rebound in sales after the lockdown: “The Chinese consumer has been incredibly resilient, and we’ve seen that throughout the COVID-19 pandemic.” The amount increased by 13% to US$1.44 billion, exceeding analysts’ expectations, mainly driven by the North American market. This is similar to Tod’s we reported yesterday , which is forecasting a 40% drop in sales in China in the second quarter, mainly driven by revenue growth in Europe and the United States.
Gucci and Adidas are releasing a collaboration series, and luxury and sports brands are getting closer.
Gucci and Adidas recently announced that the two brands’ collaboration series will be on sale in June, including clothing, hats, bags, umbrellas and more. The collection is mainly sold through Gucci’s channels. The cooperation between luxury brands and sports brands is like a combination. Adidas has cooperated with Gucci, Prada, etc., Nike has also cooperated with LV, Dior, etc., and Moncler is directly a luxury + sports brand. Some luxury goods analysts believe that the cooperation between the two types of brands is mutually beneficial. Luxury goods can use the youth and vitality of sports brands to win over a new generation of consumers, while sports brands can learn from the marketing and service methods of luxury goods to enhance their brand tonality.
From January to April, the number of newly opened shopping malls nationwide decreased by 22% compared with last year.
According to statistics from Linkshop, 68 new shopping malls were opened nationwide from January to April, down 22% from the same period last year. From a regional perspective, East China has opened 24 new stores, still the most in the country; but due to the impact of the epidemic, its lead has decreased compared to other regions. There are still zero new openings in the Northeast. The number of new shopping malls opened during the same period in the last five years has been declining, with only an increase in 2021, as 2020 projects were delayed until 2021 due to the pandemic.
Someone paid $12.4 million for a dinosaur skeleton.
A fossilized Deinonychus skeleton named Hector sold for $12.4 million at Christie’s in New York. Deinonychus, who inspired the Jurassic Park movie, became one of the most recognizable dinosaurs in the world after the movie was released. Christie’s said the dinosaur skeleton contains 126 real bones dating back about 110 million years. Previously, Christie’s also auctioned Stan, one of the most complete Tyrannosaurus rex skeletons in the world, with an amount of 31.84 million US dollars.
North Korea reported 18,000 new cases of fever yesterday.
According to media reports, on the 12th, there were 18,000 new cases of fever and 6 deaths (including one confirmed case of new coronary pneumonia) nationwide in North Korea. A total of 187,800 people are currently undergoing isolation and treatment. According to reports, since the end of April, unexplained fever has spread in North Korea, resulting in more than 350,000 fever cases, of which 162,200 have been cured. North Korea yesterday informed the world of a confirmed case of the new crown on its own.
The Li Ka-shing Family Office opens an office in Singapore.
According to media reports, Horizons Ventures, Li Ka-shing’s private investment company, is opening an office in Singapore with a team of more than ten people. This is the first office of Horizon Investments outside Hong Kong, China. Horizon Investment said that it has about 23 investment projects in Southeast Asia. It chose Singapore because it is more convenient to conduct business in Southeast Asia, and many co-investors also gather in Singapore.
Malaysia’s GDP grew 5% in the first quarter and is accelerating its recovery from the pandemic.
According to Bank Negara Malaysia, Malaysia’s GDP grew by 5% in the first quarter. Above the neutral expectation of 4% outside. Bank Negara Malaysia forecasts a full-year economic growth of 5.3%-6.3%, significantly higher than last year’s growth rate of 3.1%. The economic recovery has given Malaysia the opportunity to control inflation in advance. Although the current inflation level is only about 2%, the Bank Negara Malaysia unexpectedly raised interest rates by 0.25% the day before yesterday, and said that if there is no accident, it can continue to tighten monetary policy.
Text | Gong Fangyi Lin Guangying Intern Wang Yuqing Intern Yi Silin
Editor | Gong Fangyi
Guan Yiwen also contributed to this article
The title map is Wuxi City. Source: The Independent
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