小红书既要“独特”，又放不下“规模”丨南财号联播

Monetary Policy - The People's Bank of China announced a 0.5 percentage point reduction in the reserve requirement ratio for financial institutions, effective May 15, releasing approximately 1 trillion yuan in long-term liquidity into the market [1] - The reserve requirement ratio for auto finance companies and financial leasing companies was reduced by 5 percentage points, enhancing their credit supply capabilities [1] Gold Market - Gold prices experienced a significant drop, falling 2.1% overnight and trading around $3,150 per ounce, with a low of $3,147 per ounce [1] - The decline in international gold prices has led to a noticeable decrease in domestic gold jewelry prices, with major brands like Chow Tai Fook seeing prices drop below 1,000 yuan per gram [1] Pharmaceutical Industry - Heng Rui Pharmaceutical launched its H-share global public offering, aiming to issue 224,519,800 H-shares, with a price range set between 41.45 and 44.05 HKD per share [1] - If the overallotment option is fully exercised, the maximum fundraising amount could reach 13.08 billion HKD [1] U.S. Treasury Market - The yield on 30-year U.S. Treasury bonds approached 5%, while the yield on 10-year bonds surpassed 4.5% [1] E-commerce and Social Media - Xiaohongshu (Little Red Book) partnered with Alibaba to open a traffic channel to external e-commerce platforms, allowing users to link directly to Taobao stores [2] - Xiaohongshu's overall commercial scale is projected to reach 100 billion yuan in 2024, but it still lags behind major platforms with trillion-level GMV [2] Fast Food Industry - The Chinese rice fast food market is expected to exceed 300 billion yuan by 2025, driven by its convenience, taste, and cost-effectiveness [2] Pet Industry - The domestic pet industry is experiencing significant growth, with increasing consumer interest and changing pet ownership trends [3] Billiards Market - The billiards market in China is projected to surpass 100 billion yuan by 2025, with over 210 million enthusiasts and an annual growth rate of 180% [3] - The resurgence of billiards is attributed to a growing audience base, improved event systems, and innovations in venue operations and equipment [3]