Core Viewpoint - The rapid growth of the food delivery market has led to significant job creation and improvements in labor rights, with platforms like Taobao Shanguo and Meituan actively enhancing rider protections and income opportunities [1][4][5] Group 1: Employment and Labor Rights - Taobao Shanguo reported over 2 million active riders in August, creating more than 1 million new jobs compared to the previous year [1] - The overall employment landscape has improved, with the food delivery sector contributing to a significant increase in job opportunities and income for riders [4] - The number of riders earning over 10,000 yuan per month has increased to 2.8 times compared to last year [4] Group 2: Market Growth and Competition - The food delivery market has seen a doubling in scale, with daily orders increasing from around 100 million in May to over 200 million currently, peaking at nearly 300 million [1] - New platforms have entered the market, leading to healthy competition and innovation in service delivery, with significant growth in night orders across various cities [2] - The introduction of "warehouse stores" has met consumer demand for timely delivery, contributing to increased consumption [2] Group 3: Consumer Behavior and Spending - Online retail sales grew by 6.3% year-on-year, accounting for 24.9% of total retail sales, indicating strong digital consumption [1] - A study from Peking University found that every 1 yuan spent on Taobao Shanguo coupons generates an additional 6.76 yuan in overall consumption [2] Group 4: Business Model Innovation - Platforms are innovating their business models, such as Taobao's new membership system that integrates various services to enhance consumer engagement [3] - Differentiated strategies are emerging among platforms, with Meituan focusing on local commerce and Taobao Shanguo leveraging Alibaba's ecosystem [3] Group 5: Societal Impact - The competitive landscape has created shared value, benefiting not only the platforms but also the broader community, including small businesses and indirect employment opportunities [4][5] - The food delivery sector's growth has positively impacted the restaurant industry, with many small businesses experiencing a revival [4]

此外，有个别平台为增加客户"黏性"，试图协助平台内经营者或从业人员分拆收入，以达到少缴或不缴 税款的目的。比如，有的平台"引导"平台内经营者或从业人员在销售额达到一定规模前，通过分拆收入 违规继续享受税收优惠，不缴或少缴税款。中国政法大学财税法研究中心主任施正文认为，这实际上是 一种骗享税收优惠行为。互联网平台企业报送涉税信息后，税务机关将通过数据比对、风险分析，及时 发现并查处平台内经营者和从业人员分拆收入、虚假申报、骗享优惠等违法行为，依法向平台内经营者 追缴税款、滞纳金并处以罚款，同时依法查处违规协助平台内经营者分拆收入的平台企业。互联网平台 应依法履行涉税信息报送义务，全面核验涉税信息的真实性、准确性和完整性，引导平台内经营者和从 业人员合规享惠、依法纳税，共同促进平台经济持续健康发展。 国家税务总局相关司局负责人介绍，自《规定》去年底公开征求意见以来，相关"空壳平台"的数量已减 少100余户，有力遏制了利用平台违规招商引资行为，对促进线上线下公平、整治平台"内卷式"竞争、 推进全国统一大市场建设发挥积极作用。中央财经大学税收研究中心主任赵涛认为，《规定》实施后， 税务部门能够及时掌握平台内经营者和从 ...

周四（9月11日），美国三大股指全线收涨，道指涨1.36%，标普500指数涨0.85%，纳指涨0.72%，均创历史新高。 芯片股方面，费城半导体指数涨0.63%，刷新历史新高， 拉姆研究 涨超7%， 美光科技 涨逾7%， 应用材料 涨超4%。 中概股多数上涨，纳斯达克中国金龙指数涨2.89%，三倍做多富时中国ETF涨超7%，两倍做多沪深300ETF涨约7%。 消息面上，美国劳工统计局公布的数据显示，美国8月消费者价格指数（CPI）环比增长0.4%，经季节性调整前同比增长2.9%。当月，剔除波动较大的食 品和能源价格后，核心CPI环比增长0.3%，经季节性调整前同比增长3.1%。整体而言，美国8月CPI基本符合预期。 美国通胀上行压力仍存 尽管总体通胀数据与经济学家的预期相符，但在细节上能看到存在一些价格压力。 除了汽车维修和机票外，8月水果和蔬菜的价格环比上涨1.6%，汽车燃料价格上涨1.8%，烟草价格也上涨了1.0%。此外，8月家庭食品价格上涨0.6%，是 近三年来的最大涨幅，美国如今是一个食品净进口国，因此该品类可能受到了关税较大影响。 中泰证券（600918）研究所政策团队首席分析师杨畅对21世纪经济报 ...

天九老板云平台持续增长的背后，离不开天九共享在AI技术领域的持续投入。2024年，其自主研发 的"天星穹"大模型成功通过国家网信办深度合成算法备案；2025年4月，该模型再获生成式AI服务备 案，标志着其企业级AI服务能力获得国家认可，完成全链路合规布局，重塑企业服务体验。技术的创 新为天九共享平台的项目加速和企业赋能提供了强大的动力，使得平台能够更加精准地为企业提供服 务，实现智能对接和精准赋能。 在当今竞争激烈的商业世界中，天九共享集团始终是一颗耀眼的明星。8月18日，在第八届中国独角兽 嘉年华现场，天九共享集团迎来了创立34周年的重要时刻，天九老板云平台注册用户突破600万，这一 里程碑式的成就，成为商业领域的一则重磅新闻。 天九共享集团创始于1991年，是一个大数据驱动的企业家资源共享平台，业务遍及全球40多个城市。在 当前的市场背景下，民营经济正积极寻求转型升级，平台化、智能化成为发展的关键趋势。天九老板云 作为国内规模较大的企业家大数据资源平台，顺应了这一时代潮流。其汇聚的600万注册用户覆盖不同 行业、地域及发展阶段的企业主体，构建了动态的需求图谱、资源网络与智慧生态。这不仅体现了天九 共享平台 ...

Group 1 - The Hong Kong stock market indices collectively declined, with the semiconductor sector rising and innovative drug concepts experiencing significant losses [1] - Southbound funds have net bought Hong Kong stocks for nine consecutive trading days, with over 10 billion HKD net purchases on the day of reporting [1] - There has been a notable shift in southbound fund preferences, moving away from Pop Mart, which had surged earlier in the year, and favoring core AI assets like Alibaba [1] Group 2 - Open Source Securities suggests that funds are seeking "outlets" for AI hardware and applications, positioning the Hong Kong internet sector as a potential beneficiary [2] - Alibaba is increasing its investment in self-developed AI chips, enhancing its influence in the core computing power segment, while Oracle's AI cloud business guidance exceeded expectations, indicating strong demand for AI and cloud services [2] - The Hang Seng Technology Index ETF (513180) includes leading companies in AI, smart driving, gaming media, chip manufacturing, consumer electronics, and platform economy, with major holdings in Alibaba, Tencent, Xiaomi, and others [2]

Core Viewpoint - The event aims to promote the deep integration of the digital economy and the real economy in Huzhou, enhancing industrial capabilities through a "platform + industry" dual empowerment strategy [1] Group 1: Event Overview - The Huzhou Market Supervision Administration and Alibaba (China) Network Technology Co., Ltd. held a conference to launch the "Platform + Industry" dual empowerment initiative [1] - The initiative focuses on five key industries: children's clothing, beauty products, specialty agricultural products, Anji white tea, and food and beverage [1] - The conference outlined specific measures and development goals to enhance industrial upgrading and platform development [1] Group 2: Cooperation Agreement - A cooperation agreement was signed between Huzhou Market Supervision Administration and Alibaba to establish a deep cooperation mechanism in six core areas [1][2] - The areas include building a credit system, promoting innovative development, protecting consumer rights, governing illegal activities, enhancing intellectual property protection, and optimizing the development environment [1][2] Group 3: Economic Impact - Huzhou has seen rapid development in platform economy, with 54 platform enterprises and nearly 80,000 operating entities, directly driving 196,000 e-commerce practitioners [2] - In 2024, the city's online retail sales reached 133.54 billion yuan, a year-on-year increase of 7.6% [3] - The cross-border e-commerce sector also performed well, with an export value of 20.74 billion yuan in 2024, reaching over 120 countries and regions [3] Group 4: Alibaba's Support - Alibaba's 1688 platform has customized policies for Huzhou enterprises, including traffic support, operational training, and brand incubation [3] - Over 3,600 merchants in Huzhou are collaborating with the 1688 platform, with online transaction volume exceeding 2.5 billion yuan as of August [3] - The platform aims to continue providing efficient online display and transaction channels to enhance the supply chain of Huzhou's specialty industries [3]

9月10日，湖州市市场监督管理局联合阿里巴巴（中国）网络技术有限公司，举行"湖创优品·链动全球"湖州市推进"平台+产业"双向赋能暨产业带跃升计划 发布会，近300名平台企业代表、本地制造业企业家及电商专家参会，共探数字经济时代传统产业转型升级路径。 作为"两山"理念的诞生地、长三角区域重要枢纽城市，湖州交通物流便捷、产业基础扎实、生态优势明显，具有广阔的消费市场，为平台经济发展奠定了坚 实基础。 据统计，截至去年底，湖州全市网络经营主体已达7.99万。今年1至6月，全市网络零售额达391.9亿元，同比增长10.7%，增速居浙江第四。跨境电商发展同 样亮眼，湖州成功打造中国（湖州）跨境电商综试区，9个品牌入选浙江出口名牌（跨境电商），2024年湖州实现跨境电商出口额207.4亿元，高于浙江全省 平均8.1个百分点。 发布会全面介绍了双向赋能行动的具体举措与发展目标，接下来湖州将通过打通"产销链路"、打造"展示窗口"、擦亮"消费品牌"、组建"服务矩阵"、筑牢"防 护屏障"五大举措，为产业升级与平台发展搭建桥梁纽带，实现双向奔赴。 会上，湖州市市场监管局与阿里巴巴（中国）网络技术有限公司签署了《平台经济高质量发展合 ...

Group 1 - The Hong Kong stock market indices collectively declined on September 11, with technology stocks experiencing more losses than gains, and innovative drug concept stocks plummeting [1] - The Hang Seng Technology Index ETF (513180) saw a drop of over 1%, with major holdings such as Meituan, Bilibili, Kuaishou, Baidu Group, Xpeng Motors, Li Auto, JD Group, and Xiaomi Group among the biggest losers [1] - Southbound funds recorded a net purchase of HKD 75.66 billion on September 10, marking the ninth consecutive trading day of net buying in Hong Kong stocks, with a total net purchase amount of HKD 10,465.60 billion this year [1] Group 2 - Southbound funds have shown a renewed interest in Hong Kong's AI core assets, with a total net purchase of Alibaba amounting to HKD 334.14 billion over 14 consecutive trading days [1] - The Hang Seng Technology Index ETF (513180) includes leading companies in sectors such as artificial intelligence, smart driving, gaming media, consumer electronics, and platform economy, with major holdings including Alibaba, Tencent Holdings, Xiaomi Group, NetEase, and SMIC [1] - Only JD Health and Alibaba Health are involved in the healthcare concept within the Hang Seng Technology Index, accounting for a combined weight of just 3.06% [1]

Market Overview - The Hong Kong stock market opened lower on September 11, with the Hang Seng Index down 0.81% at 25,987.49 points, the Hang Seng Tech Index down 0.97%, and the National Enterprises Index down 1.02% [1] - Technology stocks saw more declines than gains, while gold stocks were active. The cloud computing sector had several stocks rising, and some insurance stocks also increased. However, innovative drug concepts opened lower, and automotive stocks declined [1] Fund Flow - As of September 10, southbound funds have net bought Hong Kong stocks for nine consecutive trading days, with a net purchase exceeding 5 billion HKD on the day of reporting [1] - Southbound funds have shown a preference for AI core assets in Hong Kong stocks, with Alibaba receiving a total net purchase of 33.414 billion HKD over 14 consecutive trading days [1] Company Developments - Gaode Map launched the "Gaode Street Ranking," focusing on offline dining businesses, leveraging navigation, search, and user behavior data, and emphasizing authenticity without commercialization [1] - Gaode also introduced a "Good Store Support Plan," committing over 1 billion HKD in subsidies to bring an average of 10 million customers daily to offline businesses [1] Strategic Insights - Haitong International views the Gaode Street Ranking as a key step in Alibaba's local life strategy, with limited short-term impact on Meituan and Douyin's market share but potential for long-term growth in offline consumption ecosystems [2] - The Hang Seng Tech Index ETF (513180) includes leading companies in sectors such as AI, smart driving, gaming media, consumer electronics, and platform economy, with major holdings including Alibaba, Tencent, Xiaomi, and others [2] - Within the Hang Seng Tech Index, only JD Health and Alibaba Health are involved in the healthcare sector, accounting for a combined weight of 3.06% [2]

Group 1 - The core viewpoint emphasizes the collaboration between China and Australia to explore opportunities for Chinese enterprises going global, focusing on the need for international professional talent in finance and accounting [1][3][7] - The consumption sector is identified as a major driver of China's economic development, with new patterns emerging in overseas investment and exports [1] - Companies are urged to shift from passive compliance to actively building sustainable development systems in response to environmental responsibilities and supply chain challenges [1][12] Group 2 - The Chinese consumption industry is entering a new development model, with a focus on services and experiences as key purchasing factors, alongside trends in foreign direct investment and overseas mergers and acquisitions [10] - The implementation of the EU Deforestation Regulation (EUDR) is pushing companies to reassess their supply chains and environmental responsibilities, necessitating a proactive approach to sustainability [12] - The Chinese government's "Artificial Intelligence +" initiative aims to integrate AI deeply into economic and social frameworks, enhancing risk management and operational efficiency for businesses [13] Group 3 - The platform economy is becoming a crucial force in promoting the integration of industrial, supply, value, and ecological chains, driving sustainable development in the real economy [14]