Core Insights - The Hang Seng Index opened up by 0.9%, with the Hang Seng Tech Index rising by 1.58% and the Hang Seng China Enterprises Index increasing by 0.99% [1] - The Hong Kong consumer sector showed positive early trading, with the Hong Kong Consumer ETF (513230) rising over 1% and approaching a trading volume of 20 million [1] - Wanlian Securities noted that ongoing financial policy support is boosting consumer market expectations, maintaining a "stronger than market" rating for the consumer sector, predicting that the sector index may outperform the broader market by over 10% in the next six months [1] - CITIC Securities highlighted that the Hong Kong Consumer Index (931454.CSI) serves as a benchmark for some active equity funds, with a higher allocation in sectors like electronics and machinery, and significant gains in leading tech-consumer stocks such as Tencent and Meituan [1] - The Hong Kong Consumer ETF (513230) combines technology and consumer attributes, with top five weighted stocks including Tencent, Alibaba, Meituan, Xiaomi, and BYD, where the combined weight of Alibaba, Tencent, and Xiaomi exceeds 46% [1] Notable Investment Targets - Core broad-based Hong Kong ETF: Hang Seng ETF (159920) [2] - AI + platform economy: Hang Seng Tech Index ETF (513180) [2] - Core assets in Hong Kong consumption: Hong Kong Consumer ETF (513230) [2] - Global pharmaceutical industry representation: Hang Seng Pharmaceutical ETF (159892) [2] - Gathering Chinese AI technology concept companies: Hang Seng Internet ETF (513330) [2]

监管出手！ 近日，市场监管总局会同中央社会工作部、中央网信办、人力资源社会保障部、商务部，针对当前外卖行 业竞争中存在的突出问题，约谈京东、美团、饿了么等平台企业。要求相关平台企业严格遵守《中华人民 共和国电子商务法》《中华人民共和国反不正当竞争法》《中华人民共和国食品安全法》等法律法规规 定，严格落实主体责任，主动履行社会责任，加强内部管理，合法规范经营，公平有序竞争，共同营造良 好市场环境，切实维护消费者、平台内经营者和外卖骑手的合法权益，促进平台经济规范健康有序发展。 据京东宣布，具体包括，加大全职骑手招聘力度，未来三个月将招聘名额由五万名提高到十万名；所有 因"二选一"被其他平台封杀的骑手，京东将给予足够单量，确保收入不降；骑手如有对象，京东可以优先 为其对象安排工作，比如全职快递员、全职保洁，实现"双职工"待遇，大幅提高家庭收入。 京东还表示， 对兼职骑手永不强迫"二选一"，鼓励骑手在各平台自由接单，保障收入最大化。 同时，京东称，因兼职外卖骑手被强迫"二选一"事发突然，导致京东平台部分外卖订单延迟，为表歉意， 即日起，外卖订单超时20分钟以上，京东将给予免单。 近日，京东、美团等平台的"外卖大战" ...

智通财经5月13日电，近日，市场监管总局会同中央社会工作部、中央网信办、人力资源社会保障部、 商务部，针对当前外卖行业竞争中存在的突出问题，约谈京东、美团、饿了么等平台企业。要求相关平 台企业严格遵守《中华人民共和国电子商务法》《中华人民共和国反不正当竞争法》《中华人民共和国 食品安全法》等法律法规规定，严格落实主体责任，主动履行社会责任，加强内部管理，合法规范经 营，公平有序竞争，共同营造良好市场环境，切实维护消费者、平台内经营者和外卖骑手的合法权益， 促进平台经济规范健康有序发展。 5部门约谈外卖平台企业 ...

Group 1 - The core viewpoint of the news is that the recent US-China trade talks have exceeded expectations, leading to a significant market rally in Hong Kong and among Chinese concept stocks [1] - The US has reduced tariffs on Chinese imports from 145% to 30%, with an additional 24% tariff being postponed for 90 days, which is seen as a positive signal for the market [1] - The market sentiment has improved significantly, benefiting Chinese equity assets, as US hedge funds are optimistic about the trade negotiations and are increasing their holdings in Chinese stocks [1] Group 2 - Analysts believe that the temporary withdrawal of high tariffs will positively impact Hong Kong's technology sector, which has been affected by US-China geopolitical tensions, leading to potential valuation recovery [2] - The AI sector is highlighted as a key area of focus, with expectations that the combination of US-China easing and concentration of industry leaders will benefit the Hong Kong market [2] - Upcoming earnings reports from major internet companies like Tencent and Alibaba are anticipated to be catalysts for the market, with particular attention on their capital expenditure guidance and AI application developments [2] Group 3 - The Hong Kong internet ETF (513770) is noted for its strong performance, having outperformed the Hang Seng Index and the Hang Seng Tech Index since the start of the recent market rally [3] - The index has shown a cumulative increase of over 28% since the rally began, with a maximum increase of 53.59% during the period [3] - The ETF has a high average daily trading volume of 671 million yuan, indicating good liquidity and support for intraday trading [3]

保障新就业形态劳动者权益，还有一个重要的环节就是企业。目前来看，已经有部分平台企业主动 担负起相应的社会责任，或主动全量足额为骑手缴纳保费，或推动规则公开透明等，这是一个好的开 始。对于积极落实社会责任的企业，有关部门应该予以肯定和鼓励。同时，监管部门也可以有针对性地 推出相应举措和服务，推动更多企业积极履行社会责任，切实保护好新就业形态劳动者的就业权益。 此外，还可以充分发挥社区功能，对新就业群体做好精准服务。由于很多新就业形态劳动者经常穿 梭于城市社区，社区服务就显得尤为重要。比如，浙江绍兴柯岩街道专门绘制了"新就业群体全域服务 手绘地图"，为快递小哥、外卖小哥、网约车司机等人员解决了吃饭、充电、进小区等不少难题。 其实，无论是着力解决新就业群体眼前的"小麻烦"，还是直面劳动权益保障等"大问题"，关键是让 每一分服务都落到他们的心坎上。有了保障和托底，才能有效缓解"零工焦虑"，进一步激发这一群体的 潜力和热情，让他们能安心投入到工作中。 【责任编辑：杨鑫宇 编辑：杨鑫宇】 近年来，以平台经济为代表的新业态蓬勃发展，新就业形态劳动者群体随之快速壮大。数据显示， 目前全国职工总数为4.02亿人左右，其中新就业 ...

同样是商品，功能还在，为什么是倒贴钱才会有人愿意处理呢？关键还是渠道。也就是说，一件商品的售 价，其实是渠道赋予的，并不是什么供需。这方面，很多"草根"经济学家都在犯错误，同样的帆布包，为什 么有几万的奢侈品，也有几块钱的量贩品。换个思路，戴比尔斯控制了钻石供给才导致钻石价格暴涨？不是 的，是戴比尔斯控制了销售渠道。 开厂的不如卖货的，修路的不如收过路费的。在这个时代，库存积压对企业的致死率最高，很多企业破产倒 闭，不是因为他们做错了什么，而是因为他们的产品没有销售出去的渠道，生产的商品没办法变现，那么商 品最终会变得一文不值。 大家都知道二手市场，一手市场卖1万的某件商品，当旧货处理的时候顶多200，甚至，如今还出现了一个很 热门的而业务："专业丢东西"。比如你有张床要处理，卖不掉，于是倒贴200请人上门拆掉丢掉。 平台经济，崛起于2008年，其背后是两大力量助推：一大力量是中国通信设施改善，从3G开始，平台能够承 载的信息量增加了，比如可以在平台上看视频，通信设施越发达，平台销售的事物越多，对投资人来说，要 牢牢把握住平台销售的新事物；另一大力量是2008年之后拉动内需的政策，直播带货，百团大战，购物节， ...

中美贸易谈判达成重要共识推动短期乐观情绪，港股跳空高开，港股科技50ETF（159750）开盘涨 1.43%，成份股比亚迪电子、蔚来-SW、瑞声科技等涨超5%，腾讯控股、阿里巴巴-SW涨超2%。 消息面上，本周多家大型科技股将披露一季报——周二，京东集团；周三，阿里巴巴、网易、腾讯控股 三家头部科技股也将披露财报。 在刚刚过去的2024年报披露季，港股整体盈利回暖，结构上，科技、消费成为主要驱动力。受益于 ChatGPT、DeepSeek等AI技术取得突破性进展，港股信息技术板块业绩持续改善，子行业中，技术硬件 与设备行业盈利增速靠前且改善明显，信息技术技术硬件与设备2024年归母净利同比76.4%，软件与服 务行业归母净利同比77.4%。 从主要港股科技股来看，腾讯控股2024年净利润为1941亿元人民币，同比增长68.44%；美团全年实现 净利润358亿元，同比增长158.43%；小米集团全年实现净利润236亿元，同比增长35.38%。 中期看，公募改革或进一步增加国内资金配置港股特色板块的需求。继续关注受政策支持的港股特色板 块科技及内需消费，以及红利股中一季报表现稳健的方向。 港股科技50ETF（15 ...

Group 1 - The 2025 Special Training Action is being implemented across the province, focusing on key modern industries such as equipment manufacturing, petrochemicals, health care, modern agriculture, cultural tourism, and digital economy [1] - The initiative aims to conduct over 1 million online and offline vocational skills training and job practice activities throughout the year [1] Group 2 - The training action targets key groups including college graduates, migrant workers, registered unemployed individuals, and those facing employment difficulties, leveraging a collaborative approach among government, industry, enterprises, and educational institutions [2] - A four-part training model is being promoted, which includes "job needs + skills training + skills evaluation + employment services," aimed at new employees, job changers, new apprentices, and frontline skilled workers [2] - The plan includes training over 200,000 enterprise employees throughout the year, focusing on enhancing the coverage of "New Eight-Level Workers" and improving the treatment of frontline skilled workers [2] Group 3 - The initiative includes a "Skills Express" support action for migrant workers, veterans, unemployed youth, and older disadvantaged groups, aiming to train over 240,000 individuals and facilitate job matching services [3] - Short-term professional conversion training projects, lasting no more than six months, are being developed for eligible college graduates and those who have graduated within the last two years without employment, focusing on the development of the digital economy and related sectors [3]

Core Insights - The article highlights a summer reading event organized by Nomura, featuring recommendations from financial experts on various impactful books related to economics, labor, and technology [1]. Group 1: Economic Insights - "Prosperity and Stagnation: Japan's Economic Development and Transformation" by Takumitsu Ito and Yutaka Hoshi provides a comprehensive overview of Japan's post-war economic miracle and the reasons behind its prolonged stagnation, addressing challenges like deflation and an aging population through structural reforms [4]. - The book serves as a valuable resource for economists, policymakers, and market participants, offering insights into Japan's unique systems, trade policies, and financial frameworks [4]. Group 2: Labor and Society - "Transitional Labor: Delivery Riders in the Platform Economy" by Sun Ping explores the lives and labor conditions of delivery riders in China, introducing the concept of "transitional labor" to describe their high mobility and uncertainty driven by algorithms [7]. - The book combines academic depth with humanistic concern, appealing to readers interested in the gig economy, digital transformation, and labor rights, while reflecting on the ethical and social security implications of work in the digital age [7]. Group 3: Technological Advancements - "The Coming Wave" by Mustafa Suleyman and Michael Bascall discusses the origins and spread of technological revolutions, emphasizing the current wave centered around artificial intelligence and life sciences, which includes robotics, quantum computing, and energy transition [13]. - The authors analyze the characteristics of this technological wave, such as asymmetry, super-evolution, generality, and autonomy, providing insights into future opportunities and risks, while advocating for the necessity and feasibility of technology regulation [13]. Group 4: Investment Strategies - "Cycles" by Howard Marks offers a profound exploration of the cyclical nature of economies, businesses, and stock markets, making it a significant reference for those involved in stock research and investment, particularly in the technology sector [20].

Core Viewpoint - The article emphasizes that "service" in the home furnishing industry is evolving from a mere after-sales patch to the starting point of a new industrial efficiency revolution [1][16]. Market Overview - Following the high-growth era of the real estate industry, China's home furnishing consumption structure is undergoing profound changes, with a slowdown in new housing demand and an increase in second-hand housing transactions [2]. - The installation and maintenance service market in China is projected to exceed 700 billion yuan in 2024, reaching 896.1 billion yuan by 2029, with a compound annual growth rate of 4.9% over five years [2]. Role of Third-Party Service Platforms - Third-party service platforms play a crucial role in this burgeoning market, with Luban Daijia emerging as a leading platform based on actual service order volume [2][8]. - The ranking based on "real service fulfillment data" is more reflective of the essence and value of the service industry compared to traditional GMV metrics [2]. Luban Daijia's Business Model - Luban Daijia is defined as a "platform-based, comprehensive" representative, evolving alongside the digital transformation of the industry [7]. - The platform utilizes an S2B2C model to address service radius issues for traditional home furnishing brands, providing quality standards and digital support [7][8]. Service Standardization and Efficiency - The platform aggregates over 3 million blue-collar workers nationwide, achieving comprehensive coverage of home service needs [8]. - By establishing a standardized service capability and a digital dispatch system, Luban Daijia enhances service efficiency and reduces fulfillment costs by 30% to 40% [8]. Quality Control and Customer Satisfaction - Luban Daijia implements a comprehensive service management system, achieving a service satisfaction rate of 98.52% [10][12]. - The platform's approach transforms offline experience into online standards, ensuring service replicability and consistency [12]. Future Trends and Social Impact - The aging population in China is driving demand for home improvement services, with the market for elderly-friendly home installations growing at an annual rate of 12% [14]. - Luban Daijia's platform not only addresses service gaps but also plays a social role by providing training and opportunities for unemployed workers and veterans [15]. Conclusion - The home furnishing industry is experiencing a significant shift from a product-driven to a service-driven model, with Luban Daijia redefining industry standards and enhancing the connection between workers and brands [15][16].