来源：@第一财经日报微博 #特朗普提名的凯文沃什是谁# 【#沃什的妻子是雅诗兰黛家族成员# 看看他的来时路】当地时间30日， 美国总统特朗普提名美联储前理事沃什（Kevin Warsh）出任美联储下一任主席。 "很多人认为，这个人几年前就应该担任这个职位。"特朗普曾在29日的一场活动上"剧透"，"他将是一 位备受尊敬、在金融界家喻户晓的人物。" 沃什曾在2017年参加过美联储主席的面试，不过该职位最终由现任美联储主席鲍威尔获得，后者任期将 于今年5月到期。 凯投宏观(Capital Economics)北美副首席经济学家布朗（Stephen Brown）表示，沃什是一个"相对稳妥的 选择"。 此外，除了专业素质、长相上镜都符合特朗普的要求外，沃什与特朗普关系热络的原因之一在于他的妻 子简·兰黛（Jane Lauder）是雅诗兰黛家族成员，该家族与特朗普家族交情深厚。 沃什的妻子是其斯坦福大学同学，其岳父、亿万富翁罗纳德·兰黛则是特朗普的同学和竞选时期的金 主，二人相识逾60年。在第一个总统任期内特朗普曾提出美国购买格陵兰岛的想法。据报道，特朗普的 前国家安全事务助理约翰·博尔顿曾透露，特朗普对格陵兰岛的垂涎， ...

智通财经APP获悉，美国总统唐纳德·特朗普在其Truth Social平台上发文表示，他打算提名凯文·沃什担 任下一任美联储主席。 "我认识凯文很长时间了，毫无疑问他将成为最伟大的美联储主席之一，也许是最好的，"特朗普写 道，"最重要的是，他完全符合理想形象，绝不会让你失望。" 沃什曾于2006年至2011年担任美联储理事会成员，此前曾担任特朗普的经济政策顾问。他将接替杰罗姆 ·鲍威尔，后者的主席任期将于五月结束。这对55岁的沃什而言是一次回归，在2017年时，特朗普曾放 弃选择沃什，转而任命鲍威尔担任这一最高职位。 如果获得参议院确认，这位前美联储理事将在关键时刻执掌美国货币政策。当前，许多经济学家和投资 者认为，美联储传统上独立于选举官员的自主权正受到白宫的威胁。沃什在2025年公开主张降低利率， 与特朗普立场保持一致，这与其长期以来作为"通胀鹰派"的名声相悖。 在美联储任职期间，沃什始终对通胀保持警惕，并经常支持提高利率。然而去年，他附和了特朗普的观 点，认为利率可以大幅降低。降息的意愿被视为对下一任主席的试金石，这让美联储观察人士担心，这 会削弱央行的独立性。 沃什的当选并不保证美联储的政策会发生变化 ...

沃什曾受过律师培训并在华尔街工作，之后于2006年至2011年担任美联储理事，最近他担任胡佛研究所 的访问学者，并任职于斯坦利·德拉肯米勒旗下的Duquesne家族办公室。这些履历和鲍威尔相似：后者 同样是出身华尔街的律师，曾任美联储理事及美国财政部官员，后被任命为美联储主席。 当地时间30日，美国总统特朗普提名美联储前理事沃什（Kevin Warsh）出任美联储下一任主席。 "很多人认为，这个人几年前就应该担任这个职位。"特朗普曾在29日的一场活动上"剧透"，"他将是一 位备受尊敬、在金融界家喻户晓的人物。" 沃什曾在2017年参加过美联储主席的面试，不过该职位最终由现任美联储主席鲍威尔获得，后者任期将 于今年5月到期。 凯投宏观(Capital Economics)北美副首席经济学家布朗（Stephen Brown）表示，沃什是一个"相对稳妥的 选择"。 此外，除了专业素质、长相上镜都符合特朗普的要求外，沃什与特朗普关系热络的原因之一在于他的妻 子简·兰黛（Jane Lauder）是雅诗兰黛家族成员，该家族与特朗普家族交情深厚。 和特朗普的关系 现年55岁的沃什在1992年获得斯坦福大学公共政策学士学位， ...

下任美联储主席人选出炉，律师出身的凯文·沃什获得美国总统特朗普提名！ 据央视新闻消息，美国总统特朗普提名前美联储理事凯文·沃什担任美联储主席，这一提名还需获得参 议院批准。特朗普称"沃什绝不会让你失望"。值得注意的是，与美联储主席鲍威尔不同的是，凯文·沃 什并非经济学家出身，而是一名律师，他拥有斯坦福大学本科学位、哈佛大学法律博士学位。 下任美联储主席人选出炉 在2025年4月的一篇名为《扩大美联储角色的成本》的文章中，凯文沃什大力批评了美联储涉足气候变 迁和多元、平等、包容（DEI）的议题，加上美联储的量化宽松实际上扮演了美国财政部扩大赤字的出 资方，导致美联储扮演一个多功能政府机构的角色，而非一个范围狭窄的中央银行，因此呼吁恢复1951 年财政部-美联储协议，也就是美联储并不具备配合财政部维持低利率，以支持政府债务的义务。 在2025年11月的一篇名为《美联储的领导层失控》的文章中，凯文沃什指出由于美国进入创新时代（大 语言模型及AI），美国将大幅提高生产力。如果生产力每年增长 1%，则物价压力会自然减轻。因此供 给侧的增长是需求侧通胀的天然克星。沃什明确支持特朗普的削减支出和放松管制计划，认为美联储应 ...

Core Insights - Guangzhou's cosmetics industry is experiencing significant growth, with imports and exports reaching 17.34 billion yuan in 2025, marking an 11.2% increase, and exports alone growing by 25.2% to 11.63 billion yuan, maintaining its position as the largest exporter of beauty and personal care products in China [1][2] - The city has a robust cosmetics industry chain with an annual production value exceeding 100 billion yuan, exporting products to over 170 countries and regions across six continents [1] Measures for Development - The Guangzhou Customs, in collaboration with the Guangzhou Municipal Bureau of Commerce, has introduced nine measures to support the high-quality development of the "International Beauty Bay" cosmetics industry, which have been approved by the General Administration of Customs [1] - These measures target cosmetics enterprises across 11 districts in Guangzhou, including Baiyun and Huadu, and encompass various business models such as general trade, international exhibitions, market procurement, and international transit [1] Optimizations in Business Environment - The measures aim to optimize the business environment for the cosmetics industry in three key areas: enhancing quality safety and integrity to guide enterprise transformation, supporting the healthy development of new business models through institutional innovation, and promoting industry development through international regulations [2] - The implementation of these measures is expected to yield three major benefits: a 70% reduction in customs clearance time, a 30% decrease in testing costs, and a more diverse range of export methods for enterprises, thereby enhancing their international competitiveness [2]

Investment Rating - The investment rating for the beauty and personal care industry is "outperforming the market" [4][22]. Core Insights - The fund allocation ratio for the beauty and personal care industry decreased to 0.14% in Q4 2025, down 0.06 percentage points from Q3 2025, indicating a continued low allocation status [1][3][9]. - The total market capitalization of the beauty and personal care industry reached 255.096 billion yuan in Q4 2025, reflecting a 10.43% decrease from Q3 2025 [1][9]. - The medical beauty sector remains in an over-allocated position, while personal care and cosmetics are in a low allocation zone [2][11]. Summary by Sections Industry Overview - In Q4 2025, the fund allocation ratio for personal care products was 0.03%, down 0.01 percentage points from Q3 2025, with an over-allocation ratio of -0.04% [2][13]. - The cosmetics sector saw a fund allocation ratio of 0.02% in Q4 2025, down 0.02 percentage points from Q3 2025, with an over-allocation ratio of -0.1% [2][13]. - The medical beauty sector's fund allocation ratio was 0.09% in Q4 2025, down 0.03 percentage points from Q3 2025, with an over-allocation ratio of 0.02% [2][13]. Individual Stocks - The top three stocks in the beauty and personal care sector by fund allocation in Q4 2025 were Jinbo Biological, Aimeike, and Baiya Shares, with a total heavy holding ratio of 0.05%, down 0.02 percentage points from Q3 2025 [2][15][19]. - Jinbo Biological had a heavy holding ratio of 0.0163%, Aimeike at 0.0156%, and Baiya Shares at 0.0040% in Q4 2025, all showing a decline compared to Q3 2025 [15][19]. Investment Recommendations - In the context of stabilizing the economy and expanding domestic demand, it is recommended to focus on: 1. Cosmetics and medical beauty: There is significant demand potential in the medium to long term, supported by regulatory policies favoring compliant companies [3][20]. 2. Personal care products: The growing emphasis on health and wellness among consumers suggests opportunities for leading companies with strong R&D capabilities [3][20].

Market Overview - The cosmetics sector experienced a decline of 0.98% on January 30, with Lafang Family leading the drop [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] Individual Stock Performance - Qingdao Kingking (002094) saw a closing price of 8.75, with an increase of 4.17% and a trading volume of 1.1682 million shares, amounting to a transaction value of 1.02 billion [1] - Lafang Family (603630) closed at 19.21, down 6.38%, with a trading volume of 89,300 shares and a transaction value of 174 million [2] - Shanghai Jahwa (600315) closed at 20.92, down 4.52%, with a trading volume of 163,300 shares and a transaction value of 345 million [2] - Other notable stocks include Beitaini (300957) at 41.89, down 0.85%, and Marubi (603983) at 31.52, down 0.32% [2] Capital Flow Analysis - The cosmetics sector saw a net inflow of 60.2766 million from institutional investors, while retail investors experienced a net outflow of 62.139 million [2] - The main capital inflow was led by Qingdao Kingking with 68.098 million, while retail investors showed significant outflows across various stocks [3] - Shanghai Jahwa had a net inflow of 6.7524 million from institutional investors, but also faced a net outflow of 7.7544 million from retail investors [3]

Core Viewpoint - The Guangzhou government is promoting high-quality development in the cosmetics industry, with significant growth in imports and exports, supported by new customs measures aimed at enhancing efficiency and reducing costs for enterprises [1][2][3] Group 1: Industry Growth - In 2025, Guangzhou's beauty cosmetics and personal care products imports and exports reached 17.34 billion yuan, an increase of 11.2% [1] - Exports accounted for 11.63 billion yuan, growing by 25.2%, maintaining Guangzhou's position as the largest exporter of beauty and personal care products in China, with products reaching over 170 countries and regions across six continents [1] Group 2: Customs Measures - The customs authority has introduced nine measures to support the cosmetics industry, including a "white list + sampling release" evaluation process for exported cosmetics and reforms in batch inspection [1] - These measures are designed to enhance the efficiency of customs clearance and reduce operational costs for cosmetics companies, particularly benefiting small and medium-sized enterprises [2][3] Group 3: Support for SMEs - The new customs measures create a credit-based regulatory service system that addresses concerns regarding customs efficiency and cost optimization for cosmetics companies [3] - The customs authority is expanding the types and regions for market procurement exports of cosmetics, aiming to open new channels for small and medium-sized enterprises to access international markets [3]

Group 1 - The core event is the launch of JD's "Send New Year Goods to Hometown" campaign in Jiangsu, where over 10,000 items were distributed, including popular skincare products like Baicaohui's mask set [1][3] - Baicaohui's skincare set features a nourishing mask and essential oil, utilizing traditional formulas with carefully selected herbal extracts, aimed at enhancing skin glow and elasticity [3][5] - Other popular products include the Keep G3Air massage gun for muscle relief and a red sock gift box, both designed to cater to consumer needs during the New Year [5][6] Group 2 - JD's New Year shopping festival offers significant discounts across various categories, including fashion and beauty, with promotions such as buy one get three free and exclusive subsidies [6] - The campaign emphasizes the importance of addressing consumer needs with thoughtful products, contributing to the popularity of "Guangming Village" goods [5][6]

安热沙、蜜丝婷防晒产品涉嫌假冒 近期，国家药品监督管理局最新发布的化妆品抽检信息显示，共有45批次化妆品不符合规定，其中涉及 防晒类产品14批次。值得注意的是，2批次知名防晒品牌安热沙、1批次蜜丝婷均被检出防晒霜成分不合 格，且3款产品经鉴别涉嫌系假冒产品。此外，另有11批次防晒产品检出不合格，主要问题集中在缺失 标示防晒剂、添加未标识成分、关键成分含量不足三方面。 抽检信息显示，标称株式会社资生堂生产、资生堂（中国）投资有限公司经销/境内责任人的"安热沙金 灿倍护防晒乳（90ml，标示批号5008L0）"、"安热沙金灿倍护防晒乳（60ml，标示批号5023D7）"检出 不合格。 这两款产品均标示上海（日本进口），普通化妆品备案编号J20200625，不合格原因系未检出标签及注 册资料中标示的多种防晒剂，具体包括双-乙基己氧苯酚甲氧苯基三嗪、二乙氨羟苯甲酰基苯甲酸己 酯、甲氧基肉桂酸乙基己酯、水杨酸乙基己酯、奥克立林等成分。 对此，产品境内责任人资生堂（中国）投资有限公司迅速提出样品真实性异议。经上海市药品监督管理 局核查确认，该企业并未生产或进口过该两批次抽检产品，相关产品涉嫌假冒。对于问题产品的后续处 理 ...