Core Insights - The article discusses the decline of the live-streaming industry in Hangzhou, particularly focusing on the once-thriving Regin International building, which has seen a significant drop in activity and rental prices, reflecting a broader trend of retreat among influencers and e-commerce businesses in the region [4][5][6]. Group 1: Industry Decline - The live-streaming boom is over, with many influencers and e-commerce businesses facing reduced income and high inventory levels, leading to a mass exodus from Hangzhou [6][12]. - The vacancy rate for office spaces in Hangzhou reached a historical high of 27.7% in Q2 2023, indicating a significant downturn in the live-streaming sector [6]. - Rental prices for apartments in the Regin International building have dropped from over 3,000 to just above 2,000, with many units remaining vacant [5][6]. Group 2: Personal Experiences - Many individuals who moved to Hangzhou for opportunities in live-streaming are now reconsidering their career paths due to declining income and increased competition [9][13]. - The article highlights personal stories of individuals who initially found success in the industry but are now facing burnout and financial instability [12][13][18]. - The pressure to maintain high performance in live-streaming has led to mental and physical health issues among influencers, with some opting to leave the industry altogether [15][17]. Group 3: Market Dynamics - The influx of new graduates into the live-streaming industry has created a saturated market, driving down wages and increasing competition for jobs [22][23]. - E-commerce businesses are struggling with high return rates, with some reporting return rates as high as 80%, which further complicates profitability [19][20]. - The introduction of e-commerce taxes is expected to add additional pressure on businesses that rely on high-volume sales through live-streaming [6][19]. Group 4: Future Outlook - Despite the current downturn, some industry insiders believe that Hangzhou remains a key hub for live-streaming, with potential for future growth as the market stabilizes [27][28]. - The article suggests that for new graduates, pursuing a career in live-streaming may still offer better financial prospects compared to traditional industries [27].

Core Points - The first round of e-commerce tax reporting will officially start in October 2025, with comprehensive support provided to merchants for compliance with new regulations [1][2] - The regulations require internet platform enterprises to report tax-related information to tax authorities, including identity and income information of platform operators and employees [3][5] - The implementation of the regulations will occur in phases, with key milestones including pilot programs and data interface establishment between tax authorities and platforms [8][10][11] Regulatory Content Summary - The regulations apply to internet platform enterprises such as Taobao, JD.com, and Pinduoduo, which must report tax-related information [3][4] - Reporting content includes identity information (e.g., names, tax identification numbers) and income information (e.g., total sales, service income) [5] - Initial reporting is required within 30 days of business commencement, with periodic reporting every quarter [5] Implementation Timeline - The preparation phase will run from December 2024 to May 2025, including the release of a draft for public consultation [9] - The data interface between tax authorities and platforms will be established by June 2025, with the first reporting phase occurring from July to October 2025 [10][11] Platform Responsibilities and Penalties - Platforms are responsible for verifying the authenticity and completeness of reported information, with penalties for non-compliance ranging from 20,000 to 500,000 yuan [12][13] - Platforms must ensure data security and may face severe penalties for failing to report or for fraudulent reporting [13] Risks for E-commerce Merchants - Key risks include data discrepancies between reported and self-declared income, inconsistent reporting standards, and insufficient data traceability [14][16] - Merchants must maintain comprehensive records to support their income declarations and mitigate potential tax liabilities [16] Solutions and Value Proposition - The company offers a solution that integrates data across the entire supply chain, automating tax-related information collection and ensuring accurate reporting [17][20] - The solution enables detailed tracking of orders and financial data, facilitating compliance with tax regulations and improving operational efficiency [17][20] Client Case Study - A leading beauty brand, Proya, utilized the company's solutions to manage multi-platform data, ensuring compliance with the new regulations while optimizing financial processes [48][50] Compliance Recommendations - Companies are advised to conduct self-assessments, unify reporting standards, maintain comprehensive records, and leverage digital tools to enhance compliance efficiency [51][54]