Core Insights - The market for hairy crabs in China is experiencing significant growth, with production reaching a historical high of over 7 billion crabs in 2023, driven by expanding farming scales [1] - Crab cards, which are prepaid vouchers for purchasing crabs, have become popular but are facing issues such as difficulty in redemption and discrepancies in crab quality and size [2] - The misuse of crab cards has led to a shift from being a consumption certificate to a value medium, with some merchants engaging in speculative trading rather than actual sales of crabs [2] Group 1 - The crab card market is characterized by frequent consumer complaints regarding redemption difficulties and quality issues, including dead crabs and discrepancies in size [2] - The expansion of the crab card market has led to some merchants exceeding their operational capabilities, resulting in attempts to sell subpar products [2] - The ideal scenario of a win-win situation among merchants, consumers, and the crab card system is contingent upon the authenticity of the crab cards [1][2] Group 2 - To address the issues surrounding crab cards, it is essential to implement stronger regulations and improve consumer experience by eliminating capital games associated with crab cards [3] - Suggestions include binding crab cards to actual crabs through technological means and requiring issuers to deposit a guarantee to prevent misuse [3] - Effective regulation is necessary to protect consumer rights and ensure the healthy development of the hairy crab industry [3]

Core Insights - The market for hairy crabs in China is experiencing significant growth, with production reaching a historical high of over 7 billion crabs in 2023, driven by expanding farming scales [1] - However, the crab card system, which was intended to facilitate sales and consumer convenience, is facing issues such as difficulty in redemption and quality concerns, leading to consumer dissatisfaction [2] - There is a need for regulatory measures to address the rampant issues surrounding crab cards, including the prevention of speculative trading and ensuring the authenticity of the products [3] Group 1: Market Overview - The hairy crab market has become a staple in Chinese households, with a continuous increase in production since 2016 [1] - Crab cards are categorized into model cards and cash cards, with model cards often being sold at a significant discount, leading to discrepancies in product quality [1] Group 2: Consumer Issues - Consumers report challenges in redeeming crab cards, with some experiencing delays of several years before successful redemption [2] - Quality complaints include receiving dead crabs, poor quality meat, and discrepancies in size compared to what was purchased [2] Group 3: Regulatory Recommendations - To improve the situation, it is suggested to implement technology that links crab cards to actual crabs to prevent the issuance of non-existent cards [3] - A proposal includes requiring crab card issuers to deposit a percentage of funds as a guarantee and to have third-party management of the funds to ensure accountability [3]