Core Viewpoint - The National Market Supervision Administration has released a draft regulation for live e-commerce to enhance supervision and promote healthy development in the sector, aiming to protect consumer and operator rights [1] Group 1: Market Trends - Live e-commerce is identified as a key driver for consumption growth, with a projected market size of approximately 5.8 trillion yuan and a user base of 597 million by 2024 [1] - The live e-commerce industry is experiencing seven major trends: content-driven, brand-oriented, lifestyle-focused, professional, standardized, short-direct interaction, and inclusive [1] - By December 2024, the number of online live streaming users in China is expected to reach 833 million, representing a year-on-year increase of 17.37 million and accounting for 75.2% of the total internet users [3][5] Group 2: Economic Impact - The rise of live e-commerce is crucial for stimulating consumption potential and is significant for the sustained recovery and rapid growth of consumption [3] - The online retail sales in China are projected to reach 15.5225 trillion yuan in 2024, reflecting a year-on-year growth of 7.2% [5] - Nearly half of the surveyed individuals reported making purchases after watching short videos or live streams, indicating the effectiveness of these formats in driving consumer behavior [5] Group 3: Industry Development - The "live + e-commerce" model has rapidly emerged, influencing consumer behavior and helping businesses expand both domestically and internationally [4] - The industry is still in its infancy and faces various challenges, but it holds significant growth potential, necessitating the establishment of comprehensive regulations to foster a supportive environment [4][6] - The digital transformation is driving a shift from functional consumption to experiential consumption, enhancing the overall consumer market dynamics [6]

回溯来看，2024年6月15日，美ONE优选天猫旗舰店正式上线。当晚，数款自营产品通过该旗舰店上线 李佳琦直播间，包括洗衣凝珠、乳胶被、硅胶凉席等。这也被市场视为美ONE入局自有品牌的一大动 作。 李佳琦彼时在直播中表示："中国现在有着非常强的供应链能力，很多大家熟悉的国际大牌，都是中国 制造，来自中国工厂。这些工厂，可以说是很多品牌背后的'英雄'，我们希望把这些隐藏在背后的优质 商品都集合到美腕优选天猫旗舰店，带给大家。" 实际上，近年来，不少头部主播及MCN机构纷纷加码布局自有品牌建设，例如辛选集团、东方甄选以 及谦寻控股等。同时，近期多家机构披露的数据显示，其自营品牌销售额增长迅猛。 头部直播机构布局自营品牌的步伐明显提速。 6月13日，美ONE优选公布了一周年成绩单。数据显示，其72款自营产品全网累计销量突破250万件， 服务用户超150万。这也是美ONE自去年6月入局自有品牌后首次披露的整体数据，可见其布局速度之 快。 "我们多年直播经历中接触了许多优质制造商，它们制造和研发实力强，但部分外贸转内销工厂因运营 经验不足，订单不稳定。因此，美ONE优选应运而生，我们开发新品遵循需求驱动和高质价比原则， ...

文 | 《BUG》栏目 张奥 今年"6·18"已进行大半，各大平台打得热火朝天，曾经的"美妆一哥"李佳琦悄悄"翻车"了。 截至目前，在黑猫投诉 【下载黑猫投诉客户端】平台，与李佳琦相关的投诉近2万条，多数与质量问题 有关。 越卖越贵？ 每年"6·18"都是各大主播们展现实力的大好机会，对消费者而言，谁能给到最有诱惑力的价格，就更愿 意到哪买单。 "6·18"预售时，初始价格约2900元的扫地机器人，在李佳琦直播间用券后不足1500元，大批用户买单。 事后，有多位网友透露被关闭了订单，他们质疑"李佳琦用低价骗流量？" 此外有多位网友发文称被李佳琦"价格背刺"： 毛戈平气垫比去年双十一贵了40元； 听研建构套组直播间价格比正常购买还要贵； 可复美套装比去年同期贵100元； BOBBI BROWN卸妆油贵近40元； …… 作为"老牌美妆一哥"的李佳琦自然也是不留余力，搬来了包括娇兰、希思黎、雅诗兰黛、YSL等在内的 化妆品大牌。 据青眼情报统计，截至5月14日凌晨1：30，李佳琦直播间美妆类目GMV超25亿元，对比2023年同期 （截至5月20日凌晨2点）近50亿元的峰值，同比大幅下滑。业内人士认为，这背后实际反映 ...

近段时间以来，多个城市将目光聚焦消费，计划出台提振消费的专项行动实施方案。 记者从广州市商务局网站了解到，《广州市提振消费专项行动实施方案（征求意见稿）》（简称《实施方案》）公开征求意 见，围绕居民就业增收促进行动、消费能力保障支持行动、服务消费提质惠民行动、大宗消费更新升级行动、限制措施清理 优化行动等多个方面，提出33项具体行动举措，旨在全方位激活消费市场。 来看《实施方案》重点内容： 1.拓展财产性收入渠道。组织国有企业开展国资收益申报上缴工作，加强国有上市公司市值管理。推动证券机构发展柜台债券 业务，支持个人投资者投资交易所市场政府债券。 2.严格执行最低工资保障制度，调整落实最低工资标准为2500元/月。完善劳动者工资正常增长机制、按照国家、省部署要 求，常态化推进清理拖欠中小企业账款工作。 3.落实国家育儿补贴政策，加大对符合条件家庭的生育支持力度。 4.全力抓好十五运会和残特奥会广州赛区筹办工作，高水平办好世界田联接力赛、广州马拉松赛等重大赛事，加快推进香港马 会从化马场建设和运营，推动冰雪运动和赛马运动消费发展。 8.发展直播电商、即时零售、社区团购，打造线上线下融合的新消费场景。推动邮轮旅游 ...

Core Viewpoint - The live-streaming e-commerce industry is facing tightening regulations, with the introduction of a draft regulation that includes a "blacklist system" aimed at enhancing oversight and compliance among platforms, operators, and marketers [2][4][12]. Regulatory Developments - The National Market Regulation Administration and the National Internet Information Office have drafted the "Live E-commerce Supervision Management Measures (Draft for Comments)" which includes 57 detailed provisions across seven chapters [5][12]. - Key provisions include the establishment of a "blacklist system" for live-streaming operators and marketers who violate regulations, preventing them from re-entering platforms through account changes [6][12]. - The draft encourages information sharing of the blacklist across platforms to ensure cross-platform accountability [7][22]. Responsibilities of Stakeholders - Live-streaming platforms are required to verify qualifications, implement training mechanisms, and manage violations effectively [6][12]. - Operators must publicly display sales entity information and ensure accurate pricing and promotional content, with strict penalties for misleading advertising [8][10]. - Marketing personnel and their service agencies must conduct thorough compliance checks and maintain records for at least three years [9][10]. Impact on Industry Players - The tightening regulations may hinder the return of previously banned streamers, as the draft aims to enforce strict accountability and quality standards [12][21]. - Notable streamers, including Viya, are attempting to re-enter the market through new initiatives, but face significant challenges due to the new regulatory landscape [1][13][21]. - The draft reflects a broader trend of platforms implementing their own regulations to address industry issues and promote a more compliant and transparent ecosystem [23][24].

来源：奔流财经社 01. 当浙江开始抢人 就在广东老板还举着大喇叭喊"包吃、包住"时，杭州余杭的数控技工小王正刷开人才公寓的智能门锁 ——他刚搬进政府配租的loft，楼上卧室能直接看到湿地公园，楼下书房还预装了电竞网线。 这种魔幻的对比背后，是中国区域经济最激烈的"人口暗战"： 2023年，浙江以日均1526人的速度狂揽55.7万移民，其中每四个新浙江人里，就有一个来自1500公里外 的贵州山区，数量甚至超过毗邻广东的广西务工大军。 为什么贵州小伙宁可穿越半个中国，也不去近在咫尺的珠三角？ 三组数据暴露了真相： 1、杭州码农年薪比深圳同行高18%——毕竟阿里云工程师年终奖能拿公司股票，而深圳电子厂主管的 年终奖是两箱脐橙； 2、义乌小老板贷款审批比东莞快3.2倍——这边上午手机点完申请，中午钱已到账；而那边的银行经理 还在问"抵押房产证带没带"； 3、绍兴外来工子女入读公办校概率比佛山高47%——当广东家长为学位房掏空六个钱包，浙江老师正 给贵州转学生补发免费校服。 02. 老板批发基地 据说，在浙江街头扔块砖，砸中老板的概率比砸中路灯还高—— 这里每7.8人就有1个市场主体，日均新增企业2.4万家（广东才3 ...

完整早报音频，请点击标题下方小耳机收听 【影石创新 6 月 11 日登陆科 创板， 首日大涨271.48% ，总市值超 7 00 亿元】 6 月 11 日， 影 石创新（ 688775.SH ）正式登陆上海证券交易所科创板。 其发行价为47.27元/股，收盘价为 177.00元/股，首日大涨271.48% ，总市值突破 700 亿元。此次影石创新科创板上市募资 19.38 亿元，为 2025 年以来科创板募资规模排名第一的企业。（新京报） 【于东来：胖东来今年净利润预估为 15 亿元，员工税后平均月收入可达 9000 元】 6 月 11 日，胖 东来创始人于东来在社交媒体宣布： 2025 年胖东来净利润估计 15 亿元左右， 8000 多名员工税后 平均月收入可达 9000 元，管理层和技术人员平均每人分配 70 万元左右。谈及工作时长，于东来称 未来员工工作时间每周不会超过 36 小时，年休假不会低于 40 天。（ 21 世纪经济报道） 【华为正式发布 Pura 80 系列：最高售价 10999 元】 6 月 11 日下午，华为 Pura 80 系列及全场 景新品发布会在上海举行。发布会现场宣布， Pura ...

Group 1 - Doubao-Seed-1.6 model was officially launched, supporting 256k long context, with a daily average token usage of 16.4 trillion by the end of May [1] - The launch reflects the extensive application of Doubao in a competitive large model industry, necessitating continuous performance optimization and innovation in multimodal fields [1] Group 2 - Qianxun launched a mini-program named "Qianxun Super Member," which sparked speculation about its connection to the return of influencer Viya, but the company denied any such link [2] - The mini-program aims to promote consumption and serve merchants while adhering to national laws and regulations, indicating a shift in the live e-commerce industry towards private domain operations [2] Group 3 - AliExpress, a cross-border e-commerce platform under Alibaba, launched a car sales business, initially offering Chinese electric vehicles during the overseas "618" shopping festival [3] - This move is seen as a strategic expansion into vehicle sales, leveraging its existing user base in auto parts, but faces challenges related to after-sales and logistics [3] Group 4 - 3D model company VAST secured tens of millions of dollars in Pre-A+ round financing, led by Beijing AI Industry Investment Fund, with previous investors including various venture capital firms [4] - VAST launched the world's first AI-driven one-stop 3D workspace, Tripo Studio, and is set to introduce a new algorithm, Tripo 3.0, enhancing its competitive edge in the 3D modeling market [4]

Core Viewpoint - The rapid development of live e-commerce in China has led to significant contributions to consumption and economic growth, but it is also plagued by issues such as false advertising and poor consumer trust, prompting the need for regulatory measures [1][2]. Group 1: Industry Overview - Live e-commerce retail sales in China reached 4.3 trillion yuan from January to November 2024, contributing 80% of the e-commerce sector's growth [1]. - Complaints related to live commerce reached 402,000 in 2024, marking a 19.3% year-on-year increase, with social media platforms seeing a threefold increase in complaints [1]. Group 2: Regulatory Measures - The newly drafted "Live E-commerce Supervision Management Measures" aims to address long-standing issues in the industry, including false advertising and unclear responsibilities [2]. - The measures establish a systematic responsibility framework for platforms, hosts, and merchants, requiring platforms to implement dynamic verification mechanisms and a tiered management system for high-risk live streams [2][3]. Group 3: Enforcement and Compliance - The regulations propose a blacklist system for violators, allowing for cross-platform restrictions and public disclosure of serious violations on national credit information systems [3]. - The implementation of these measures is expected to enhance regulatory effectiveness and promote a more sustainable and orderly development of the live e-commerce industry [3].

本报记者 矫月 见习记者 梁傲男 6月10日，国家市场监督管理总局（以下简称"市场监管总局"）发布消息称，为加强直播电商监督管理，维护广大消费者 和经营者合法权益，促进直播电商健康发展，市场监管总局在充分调研和广泛征求意见的基础上，会同国家网信办研究起草了 《直播电商监督管理办法（征求意见稿）》（以下简称《办法》），正式向社会公开征求意见。 从《办法》主要内容来看，一是细化直播电商平台经营者的责任和义务；二是明确直播间运营者、直播营销人员服务机 构、直播营销人员的责任和义务；三是强化监督管理手段；四是强调不履行法定义务应当承担的法律责任。 据市场监管总局网监司相关负责人表示，对于直播电商新业态新模式，《办法》坚持监管规范与促进发展并重。在着眼于 促进行业规范健康创新发展的同时，坚持问题导向、有针对性地规范直播电商行业乱象，进一步明确直播电商行业各参与主体 的法定责任和义务，维护广大消费者和经营者合法权益，维护公平竞争的市场秩序。《办法》的制定，将进一步压实平台企业 的主体责任，并通过平台企业向其他主体层层传导合规要求，实现监管效率的最大化。 网经社电子商务研究中心特约研究员陈虎东表示，直播消费是一种比较新型的 ...