Core Viewpoint - The Chinese patent medicine industry is facing increased scrutiny and regulatory challenges, particularly regarding pricing disparities and the misuse of traditional medicine prescriptions, necessitating a shift towards genuine innovation and responsible practices [1][2][3]. Group 1: Regulatory Environment - The Tianjin Medical Insurance Bureau has initiated price risk management for 230 Chinese patent medicine varieties, revealing price discrepancies as high as 3042 times among different products [1]. - The regulatory environment for Western medicine is becoming stricter, with the National Medical Products Administration (NMPA) enforcing quality and efficacy evaluations, while Chinese patent medicine companies have been able to evade similar scrutiny [2]. - There is a growing concern about the misuse of Chinese patent medicines, with some hospitals excessively prescribing these medications, leading to calls for stricter regulations on who can prescribe them [1][2]. Group 2: Industry Challenges - The Chinese patent medicine industry has rapidly developed into a market exceeding 400 billion yuan, but it has been marred by over-marketing and misinterpretation of "integrated Chinese and Western medicine" [2]. - The reliance on "micro-innovation" and "pseudo-innovation" is becoming unsustainable as regulatory standards tighten, pushing companies to seek true innovation rather than minor adjustments to existing products [2][3]. - The era of inflated pricing and high profits for Chinese patent medicines is coming to an end, prompting leading companies to explore transitions into broader health product markets [3]. Group 3: Recommendations for the Industry - Companies are advised to move away from superficial innovations and focus on developing new medicinal materials, formulations, and delivery methods to meet stricter regulatory requirements [2][3]. - A return to the principles of "differentiated treatment" in traditional Chinese medicine is recommended, with a call for the NMPA to limit the scope of indications for Chinese patent medicines to prevent misuse [3]. - The industry should shift from being solely a medical insurance product to a broader health product, targeting preventive care for populations at risk of health issues [3].

Core Insights - The Beijing home service industry has seen a significant increase in registered companies, with a 45.7% rise in the number of home service-related enterprises from 13,800 to 20,100 in the first ten months of 2025 compared to the previous year [1] - The influx of new entrants has led to intense price competition, resulting in lower service prices and impacting the wages of home service workers [2][5] - Despite the challenges, the home service industry remains a lucrative market due to the growing demand for elderly care and childcare services, with an estimated labor gap exceeding 20 million [8] Market Dynamics - The entry of new companies has been fueled by favorable policies, with the Beijing Municipal Human Resources and Social Security Bureau planning to guide 10,000 home service workers to Beijing each year from 2025 to 2027 [3] - The industry is characterized by a low entry barrier, leading to a rapid increase in the number of small home service companies, which often resort to price wars to capture market share [3][4] - The average monthly salary for live-in elderly care workers has decreased from 5,000 yuan to 4,500 yuan, reflecting the downward pressure on wages due to market competition [6][7] Employment Trends - Home service workers are increasingly accepting lower wages due to the competitive landscape and their own financial pressures, with many now willing to take jobs at reduced rates [6][7] - The overall wage levels for home service personnel have remained stable, but specific sectors like elderly care and cleaning have seen slight declines [6][7] - The demand for home services has not fully recovered to pre-pandemic levels, with ongoing fluctuations in employer spending influencing service pricing [7] Industry Characteristics - The home service industry in Beijing is described as "small and scattered," with 44.1% of companies having registered capital of less than 1 million yuan [4] - Many small companies are cutting costs by reducing the vetting and training of service personnel, which raises concerns about service quality [4] - The industry is projected to continue growing, with a market size reaching trillions and over 30 million workers nationwide, indicating potential for new entrants who can establish effective business models [8]

展名：钢铁与荣耀——欧洲骑士盔甲与文化展 展览地点：南京城墙博物馆 一场名为《钢铁与荣耀——欧洲骑士盔甲与文化展》2025年11月28日起在南京城墙博物馆举行。本次展 览汇集意大利都灵王宫博物馆及王室军械库等机构的百件殿堂级馆藏珍宝，包括三套完整骑士盔甲、一 套战马盔甲，以及剑、盾、头盔等百余件精选文物，生动还原欧洲中世纪的骑士装备体系与时代风貌。 本次展览旨在展示欧洲骑士的发展脉络与文化魅力。通过意大利都灵王宫博物馆及其下的古物博物馆、 王室图书馆、萨伏伊画廊等场馆所藏的140件/套文物，为观众呈现骑士的历史。 （原标题：南京看展：钢铁与荣耀——欧洲骑士盔甲与文化展） 展览时间：2025年11月28日——2026年4月15日 ...

（原标题：从厌学到复学｜21 当复学失败时——如何避免二次伤害） 复学的过程往往一波三折，并不是所有的尝试都能一次成功。有的孩子可能在走进校园几天后，又因为 焦虑、压力而拒绝上学；有的孩子坚持了几周，又因为一次考试失利、一场同学矛盾，再次退回"不愿 出门"的状态。面对这样的"复学失败"，家长的第一反应往往是焦虑、自责甚至愤怒，但这时候最关键 的，不是追问"为什么又放弃"，而是先稳住情绪，避免因为不当应对给孩子造成"二次伤害"——让孩子 知道"即使没做好，你依然值得被接纳"，才能为再次出发保留信心和勇气。 当孩子提出"不想上学"的时候，家长很容易被情绪带动，说出或做出让孩子更受伤的事。以下3种常见 的"本能反应"正在制造二次伤害： 一种是否定和指责。比如，"我花了这么多时间陪你准备，你说不去就不去？太没毅力了！""别人都能 好好上学，就你不行？"——这种话语会让孩子把"复学失败"等同于"自己没用"，加重自我否定； 一种是过度焦虑与追问，"你到底为什么不想去？是不是老师说你了？还是同学欺负你了？""再这样下 去，你以后怎么办？"——密集的追问和负面预判，会让孩子觉得"家长比我更慌"，进而更害怕面对问 题； 一种是 ...

（原标题：经观头条丨香港宏福苑大火44小时） 经济观察报记者 郑晨烨 11月28日上午10时18分，香港特区政府消防处正式宣布，大埔宏福苑火灾的灭火及救援工作完成。此时，距离11月26日下午2时51分火灾开始，已 经过去了约44个小时。 28日下午，经济观察报记者重返事发现场。虽然明火已在数小时前被扑灭，但封锁线内的空气中，依然弥漫着一股浓烈刺鼻的、混合了化学塑胶 与建筑焦炭的气味。宏福苑东南侧的三栋大厦，外立面已完全呈焦黑色，曾包裹着大厦的绿色防护网与竹制脚手架已化为灰烬，仅剩部分扭曲的 棚架结构挂在墙体上。 在28日下午举行的官方发布会上，香港特区政府保安局局长邓炳强通报了最新的伤亡数据，截至目前，这场火灾已造成128人遇难。 随着搜救工作的结束，针对事故责任的刑事调查也在全面展开。香港警方已于28日凌晨采取行动，拘捕了涉事工程承建商"宏业建筑工程有限公 司"的3名负责人，包括2名董事及1名工程顾问，指控罪名为涉嫌"误杀"。 警方及消防处在初步调查中发现，起火大厦外墙铺设的防护网及部分单位窗户密封用的物料，存在严重的易燃隐患。同日，香港廉政公署宣布成 立专案小组，就该屋苑总额达3.3亿港元的大维修工程是否 ...

Core Viewpoint - The relative stability of China's aviation fuel market has been disrupted, initiating a transformation led by industry giants that aims to reshape the competitive landscape and industry structure [2][8]. Group 1: Announcement and Reorganization - On October 30, 2025, China Aviation Oil (Singapore) Co., Ltd. announced that its controlling shareholder, China Aviation Oil Group, is undergoing a reorganization with another enterprise group [3][9]. - The reorganization is characterized as a comprehensive integration of assets, channels, and personnel, indicating a significant shift beyond mere capital cooperation to a restructuring of the entire industry chain [4][5]. Group 2: Market Impact and Industry Response - Analysts suggest that if the reorganization is successful, it will reshape the domestic aviation fuel market's competitive dynamics, focusing on enhancing efficiency across the entire supply chain from refining to refueling [7][15]. - Various stakeholders in the industry, from major corporations to smaller firms, are reacting swiftly to the news, with concerns about pricing power and supply stability emerging as key issues [8][20]. Group 3: Strategic Goals and Future Outlook - The reorganization aims to create a "giant" capable of competing with international energy giants, driven by dual strategies of achieving carbon neutrality and ensuring supply chain autonomy [8][12]. - The integration of China Aviation Oil Group's extensive distribution network with the energy giant's refining capabilities is expected to optimize costs and enhance operational efficiency [11][13]. Group 4: Competitive Landscape and Challenges - The aviation fuel market, previously characterized by a stable triangular structure dominated by state-owned giants, is facing a potential shift towards a more competitive environment where efficiency and cost become the primary competitive factors [16][15]. - Smaller companies express concerns about being squeezed out of the market as a result of the emergence of a dominant player, leading to strategic reassessments and adaptations [18][19]. Group 5: Sustainable Aviation Fuel (SAF) Initiatives - China Aviation Oil Group is actively positioning itself in the sustainable aviation fuel (SAF) sector, with strategic investments and partnerships aimed at preparing for future regulatory requirements and market demands [25][26]. - The reorganization raises questions about how the new entity will approach the SAF market, particularly regarding the treatment of private sector players [26][27]. Group 6: Investment and Market Opportunities - Investors are reevaluating the energy sector landscape, focusing on the integration of companies within the newly formed industry ecosystem rather than solely on individual technological advancements [29].

Core Viewpoint - The issuance of capital supplementary bonds by China Merchants Renhe Life Insurance Co., Ltd. (招商仁和) reflects a trend among insurance companies to replace high-interest debt with lower-cost options, optimizing their financial structure amid a favorable interest rate environment [1][5]. Group 1: Bond Issuance and Financial Impact - China Merchants Renhe issued capital supplementary bonds with a coupon rate of 2.4%, replacing a previous bond with a 4.95% rate, resulting in annual interest savings of 20 million yuan [1][2][5]. - In 2025, 20 insurance companies have issued financial bonds totaling 74.1 billion yuan, indicating a continued high level of bond issuance despite a decrease from the previous years [2][3]. - The trend of issuing new bonds to refinance old ones is prevalent, with 19 insurance companies issuing subordinated bonds in 2025, an increase from 2024 [3]. Group 2: Interest Rate Trends and Market Conditions - The ongoing decline in medium to long-term risk-free interest rates has narrowed credit spreads, providing a window for insurance companies to issue bonds and refinance existing debt [4]. - The coupon rates for subordinated bonds have decreased significantly, with rates dropping below 3% in 2024 and 2025, compared to 3.6%-5.5% in 2020 and 2021 [4]. Group 3: Types of Bonds and Regulatory Environment - Insurance companies are primarily issuing capital supplementary bonds and perpetual bonds, with the latter being favored by larger firms due to their ability to enhance core capital ratios [6][7]. - Since 2023, there have been 23 issuances of perpetual bonds totaling 121.64 billion yuan, with a significant increase in issuance by life insurance companies [7]. Group 4: Challenges and Market Dynamics - Smaller insurance companies face greater challenges in maintaining solvency and capital adequacy, often relying on interest rate spreads for revenue, which is not sustainable long-term [9]. - The implementation of new accounting standards and regulatory frameworks has increased the volatility of net assets and profits for insurance companies, complicating asset-liability management [10].

（原标题：原生家庭创伤：在孩子面前吵架，负能量足以毁灭一个孩子） 世上极少有不吵架的父母，再恩爱的夫妻也难免会遇到矛盾，发生激烈的争吵。争吵过后，不管问题是 否得到解决，反正脾气是发完了，情绪也宣泄了，一切似乎又恢复了平静。 然而，父母经常吵架，对孩子的伤害最大！ 父母吵架时说的每一句攻击对方的狠话，对于夫妻双方来说，可能只是一时的气话，不放在心上，但孩 子会全盘接收并放在心上。 他们惶恐、着急而又无法理解，更不知道怎么做才能改变这个局面。于是，他们的潜意识就会制造一些 问题来换取父母的和谐，出现磨牙、做噩梦、经常生病、注意力不集中、爱发脾气、不听教导、学习散 漫等现象。 原来儿时父母吵架的经历，能够那么深远地影响着一个孩子，它所带来的巨大负能量足以毁灭孩子的一 生！甚至，超过父母离婚对孩子的伤害…… 很多人都不知道，「父母的争吵」常常会成为孩子痛苦的记忆，这种记忆甚至会跟随他们进入成年。 01 「争吵」刺激年幼记忆 在一次家庭治疗课程上，一位男士向我们讲述了自己和妻子的一次冲突。 有一天晚上，他和妻子因为一件家事的分歧发生了言语冲突，那段时间他工作不顺，父母又同时生病， 他和妻子在忙碌工作之余还要奔走照顾两 ...

Core Insights - The article emphasizes the importance of collaboration between parents and teachers to support children's return to school, highlighting that effective communication is essential for creating a seamless support network for children [1] Group 1: Communication Goals - Parents should focus on three core goals when communicating with teachers: understanding the child's unique situation, establishing a support plan, and maintaining regular information exchange [2] Group 2: Effective Communication Strategies - Choosing the right timing and method for communication is crucial, as teachers have busy schedules and may not respond well to interruptions during class or at dismissal [3] - Parents should avoid busy times and consider making appointments for discussions, tailoring their communication approach based on the context of the conversation [4] Group 3: Common Communication Pitfalls - Parents often fall into traps that hinder effective collaboration, such as only discussing problems without acknowledging the child's progress, which can demotivate teachers [5] - Failing to provide feedback on the effectiveness of the teacher's support can lead to a lack of continued assistance, and overprotecting the child can create challenges in managing classroom expectations [6] Group 4: The Essence of Collaboration - The ultimate goal of communication is to ensure that children perceive both parents and teachers as supportive allies rather than adversaries, fostering a cooperative environment for addressing challenges [7]

Core Points - The exhibition titled "Monet's Poetry: A Dialogue of Eastern and Western Aesthetics from Chicago to Sanjiangkou" will be held from December 5, 2025, to March 8, 2026, at the Ningbo Museum [1] - The exhibition will showcase over 60 exquisite pieces from the collections of the Ningbo Museum and the Art Institute of Chicago, featuring a remarkable juxtaposition of Chinese ceramics, paintings, and European glassware, sculptures, and prints [1] - Monet's late works, particularly the "Water Lilies" series, emphasize his growing focus on light and weather conditions, with the painting "Water Lily Pond" created between 1899 and 1900 being one of the 18 works in this series [1] Exhibition Details - Exhibition Title: "Monet's Poetry: A Dialogue of Eastern and Western Aesthetics from Chicago to Sanjiangkou" [1] - Exhibition Dates: December 5, 2025, to March 8, 2026 [1] - Exhibition Location: Ningbo Museum, First Floor, West Special Exhibition Hall [1]