Core Viewpoint - Kuaishou E-commerce has launched the "Star Plan" for 2026, aimed at empowering new merchants and small businesses through a series of initiatives designed to enhance operational efficiency, reduce costs, and improve the overall business environment [1][17]. Group 1: Cost Reduction and Efficiency Enhancement - The guarantee deposit policy has been upgraded to lower operational costs for small merchants, including the expansion of zero-deposit categories for opening stores [2][20]. - New merchants can benefit from a cash return of up to 240 yuan and a traffic package of 4600 for their first sale [3][20]. - A subsidy for the "return shipping fee" service is available, allowing eligible new merchants to enjoy up to 1300 free service fees for returns [4][21]. - AI tools are introduced to enhance operational efficiency, including AI customer service and AI logistics diagnostics, which help reduce operational barriers for merchants [5][23]. Group 2: New Merchant Cultivation - A phased growth incentive program is established to accelerate the transition of new merchants, with cash rewards for achieving sales targets [7][25]. - The "New Merchant Launch Acceleration Package" offers free traffic support for new merchants who meet specific live streaming requirements [9][26]. - Brand and large merchant incentive plans are introduced, offering substantial rewards for achieving sales targets within specified timeframes [10][27]. Group 3: Support for Industrial Belt Merchants - A special support plan for "Lao Tie Good Shops" is set up, providing exclusive certifications and benefits such as dedicated traffic packages and priority participation in themed activities [11][27]. - Continuous support for industrial belt merchants is planned, focusing on operational assistance and category support, including reduced commission rates and tiered deposit adjustments [12][28]. Group 4: Optimizing the Business Environment - Protection of rights for high-potential new merchants is emphasized, providing opportunities for information correction to ensure compliance and reduce costs [13][29]. - The platform experience is continuously optimized to minimize costs and operational losses for merchants through improved identification of consumer behavior and responsibility determination [14][29].

千亿计划背后，拼多多增长的结构性革新。 特朗普发动的关税贸易战仍在进行。美国对中国出口商品加征的 "对等关税"，已经由 34% 连续增加 至 125%，总计叠加关税累计高达 145%，且 800 美元以下小包裹免税政策也将于 5 月 2 日起取消。 这种快速且剧烈的关税政策变动，同时给中美两国带来冲击。美国一直以来都是中国制造业的重要出 口市场，但在充满了高度不确定性的当下，供给侧短期转向国内市场成了必然选择，诸多内需刺激政 策正在讨论中。 但在长期出口导向型经济驱动下，中国成为 " 世界工厂 " 的同时，也形成了制造业 "以规模效益为核 心、以成本控制为优势" 的生产体系。这种模式虽快速占领了国际中低端市场，却也带来了矛盾。 其一，企业长期陷于 OEM 代工体系的路径依赖，品牌溢价与技术研发能力薄弱。这些工厂在很长一 段时间里，只要找到更便宜的出货渠道就能保证业绩的增长，既不缺订单也不需要花费精力创新，自 然没有升级产线、产品的动力。 但随着市场竞争逐渐激烈，因商品同质化而加剧的价格竞争使厂家的利润被不断摊薄，产品研发和品 牌建设难以开展，产品也缺少升级创新，产能过剩的同时，消费者依然有大量需求没有被满足。 ...