As in the case of one country’s two highways, one charge is not charged, assuming that the arrival destination is the same, and that there must be a distinct traffic flow of two highways. Can this happen? Obviously, it is impossible. If administrative intervention is necessary, is registration? Obviously, this is an insurmountable one.

Following the small and medium-sized board, the entrepreneurship board and the new three panels, China is about to set up a new board, which is to be put in place. According to NSW, on 5 November, the Officer-in-Charge of the Institute indicated that the establishment of the calibrium was an important arrangement for improving the capital market system, stimulating market dynamism and protecting the legitimate interests of investors through the implementation of innovative, science- and technology-enhancing strategies, promoting high-quality development, supporting the construction of the Shanghai International Finance Centre and the Centre for Science and Technology Innovation. The board will take the lead in the pilot registration system. Widespread popularity ensued after the news was published. This means that the cardboard will serve as a pilot field for future registration in the Chinese equity market. The problem is that if the creation is not able to set effective restrictions to separate the board from the three other panels, it would be possible for the creation to be transformed from “testing field” to “two-track”. The analytical board will face three mainscans. If it is a test field, it is faced with a single bunker and, if it is a two-track system, with three goats that are difficult to cross.

Kami: Paradox between the end of the approval system and the long-term replacement of the registration system

The approval system has been used for the distribution of our stocks and for the marketing of companies. The purpose of the approval system is that the central Government finances companies and lists them. Once changed to registration, the implication is that the central Government will not go back. In the absence of a higher credit institution to replace government endorsement, it is clear that the company cannot directly absorb the funds. The international institution is called “investing banks”. In an environment where approval is long-standing, there is no investment bank. Chinese vouchers are self-sustained as investment banks, which are merely promotional slogans. As is the case of a medical college, a surgeon who has never received a surgical knife may also say that he is a surgeon.

When the boards are to introduce a registration system, there is a contradiction that approval is either continuing or only halting overnight without space for buffer. The so-called registration system is in fact an investment banking system. Investment banks are needed to replace government financing for companies. The problem is that an investment bank is not capable of changing tickets overnight. Well-known foreign investment banks have a centuries-old history, and many investment banks have been closed for centuries, suggesting that investment banks are the result of market excellence and trust institutions that have long been tested by markets. It is not simple to change the number of plates overnight. When investment banks are unable to substitute for government financing for companies in a very short period of time, they are equivalent to a “ vacuum” in the direct financing market, leading to market disruption. It is clear that this paradox cannot be resolved, and it is recognized that it is at least stronger. The large-scale registration reform initiated by my country in 2013, which was largely later found to be difficult to overstep.

Cunii: contradiction between two market-based mechanisms

Companies traded publicly with corporate shares through the distribution of equity financing, which was originally two issues. The country has long been confused. It is precisely because of the confusion that led to China’s lack of direct financing markets and stock markets today. When people talk about registration or approval, it is actually about whether the registration system for financing or the registration system or approval system for listing or listing. Under market economy rules, market regulators cannot judge the value of commodities, or they are not market economies. Thus, there is no authorization system for listing strictly and only registration. As our financing is subject to approval, it is also tied to finance, which has led to the fact that it has also been approved.

Financing should not be considered first. Once the boards are marketed, registration is introduced, while the other boards are still the approval system, resulting in the creation of a single market-market market mechanism in one country. In theory, all equity companies can apply for listing on boards, and market regulators do not have the right to restrict market participation in boards, except for companies with scientific and technological content. There will then be a large number of companies that are on the market without small and medium-sized boards and business boards. In the past, small and medium-sized panels and entrepreneurship boards did not yield good returns to equity owners, and there was also a large number of shareholders who were not able to board and trade in small and medium-sized panels. As in the case of one country’s two highways, one charge is not charged, assuming that the arrival destination is the same, and that there must be a distinct traffic flow of two highways. Can this happen? Obviously, it is impossible. If administrative intervention is necessary, is registration? Obviously, this is an insurmountable one.

Camp III: contradiction between two financing mechanisms

The most important of the reform of the registration system is the reform of the financial registration system. It is in fact an uninformed idea when one speaks of a pilot registration reform. Since finance is not related to equity markets, such as corporate finance, it is generally available. There are many non-market financing outside the country. Non-marketing is a right of shareholders, and non-market financing cannot always be said to be related to equity markets. It is correct to say that the pilot company finance registration system is reformed and then these companies can be placed on the boards (provisions that can only be marketed on board boards are problematic in themselves). Attention must refer to the reform of the financial registration system rather than to the reform of the pilot registration system.

Under the reform of financial registration, or with the creation of the boards, Chinese equity companies face two mechanisms, one registration and the other approval. The former are cost-effective, the same is two highways, and what is the result of a charge not charged? Obviously, will rational people make the right choice, equally for financing purposes, and will there be a choice of approval for a waiver of registration? Obviously, it will not be possible. As a result, a large number of unfunded companies would opt for a registration system and for an approval system. On the one hand, registration is overcrowded and, on the other hand, authorization is lost.

In the face of Kan II and Kam III, for the time being, there is a need for registration finance and open boards.

Author | panfeni editor | Qin Yan

Probe store bloggers are blooming everywhere. Do many businesses like the traffic behind “them” or fame?

“There’s something wrong with this lens!”

“XXX, you’re not in the right state when you eat. This is a small yellow croaker in the East China Sea. You eat it like a roasted autumn knife on the street.”

“Deviated from the script preset, so we can’t tell the shopkeeper”

At 10 pm, in the office of a maker space in Minhang District, Shanghai, the atmosphere gradually smelled of gunpowder.

Four young people sat scattered behind the table and said nothing to the “leader” in the middle of the office. Severe reprimands sounded from time to time. Even through the glass partition door, you can feel the “cold” of the air.

Such scenes are not uncommon in this circle. For 70% of MCN institutions or search bloggers, The competition in the industry has become more and more cruel - “after the industrialization and patterning of the probe store, the blogger’s creed has changed from showing the truth to that everything has a price. But what should we do? Everyone needs to survive. The shooting, copywriting and later stage behind the probe store also need to be paid, even for finance.” A senior leader said.

The field of search shop (video content production), which is not a new thing, entered an explosive period with the popularity of live broadcast and short video content two years ago.

The big V and up owners of various exploration stores have risen one after another, ranging from subdivided life categories to doing business in clothing, food, housing and transportation, covering almost the whole industry. Some of the former editors of the text search shop have become outbound hosts, some have been reselled as KOL, and some have successfully “run away” to start a business. In their development path, the outside world has found that “exploring the store” has long been regarded as an industry active in daily life, “changing the soup without changing the medicine, updating the equipment, playing methods and prices, and unchanged the hidden rules of the industry” - said a blogger.

Exploring the outlet of the store: the change of content under performance

As a kind of vertical content, search shop has existed for a long time. At the end of 2015, the official account was not long known, but the trend was fixed. In this process, the first thing to emerge is the emergence of a variety of local “life numbers” all over the country. For these early entrants, exploring store content creation is one of their important means of realization.

Xu Jing (pseudonym) joined an entrepreneurial advertising company in Shanghai after graduating from university in 2015. The enterprise is small and there are not many people. There are three editors, a part-time financial HR and a boss. The topic of food is not complicated for her. “I’ll collect what’s delicious and give it to the boss if there is a business opportunity. After confirmation, I’ll take my camera to the store to collect and write, and a picture and text draft is finished.”

A column called “popular food” often becomes Xu Jing’s reference template. “What they do is the kind of video content recorded and broadcast by traditional TV stations, that is, they go to stores one by one in Shanghai and take the host to try. The effect after shooting is good. Throughout 2015, I followed their program to nearly 100 stores, and several of them also made commercial distribution.”

From 2015 to 2017, Xu Jing’s team focused on serving local offline businesses and stores in Shanghai. From home decoration, food to candy and digital, content was produced in the form of graphics and text - “at this stage, as long as it is a store with high consumer attention, we can quickly get traffic through some gimmicky content to create topics.”

At that time, the mass consumption depended on the promotion and guidance of the we media platform. After the “strong alliance” between merchants and creators, the growth effect of public accounts and store customers was significant.

“In order to attract customers to businesses, we usually put a group purchase link at the bottom of the article, and even send cash coupons by private letter. Take an article with a reading of nearly 50000 as an example, we usually add nearly 1000 group purchase orders for the shopkeeper in the current month, excluding the 3% group purchase (platform) deduction, which is a very considerable number,” Xu Jing told understand notes.

However, the ebb tide of traffic came too fast, and the positions of graphic and graphic agents began to be eroded. After 2018, with the advent of the era dominated by short videos, the reading volume of graphic life numbers began to plummet. The change behind this is the all-round innovation of traditional graphics and text from content to form. Some small actions and playing methods that have been unfavourable in the past are quietly changing.

Tiktok’s company moved its main battlefield from WeChat official account to the channel of voice, B station, Taobao live broadcast, etc. the main content of Xu Jing’s company is to explore stores, but the content is different from video to video.

The biggest feature of the short video era is that the boundary of the content is gradually blurred and the extension is gradually expanding. Video empowers everything - old factories, small shops in cities and towns, abandoned mines can become capital projects after packaging; Many traditional urban cuisines, museums, restaurants, small towns and even rural life are popular due to the empowerment of short videos. The carrier is not always new. The key is how to innovate the content and presentation form.

Xu Jing and her colleagues have made comprehensive adjustments since the second half of 2018. “The brief on the commercial list is more and more biased towards video, and the time is shorter and shorter. It has to have gimmicks, interesting plot and commercial transformation… It used to be a picture and text content one person a day, but now it is three people a day to produce a video.”

With Xu Jing as the host, the team began to postpone the logic of the local life number and constantly update short videos. At the same time, the company also began to recruit some “Editors” who “can be photographed and speak beautiful words”. At the same time, they began to cooperate with many external search store bloggers, “eat what they can do, and needless to say what they can’t do. Just turn to some outsourcing (search store bloggers in the circle) to do it.” According to Xu Jing, “the cost of the company has not increased too much, but there are obviously more business orders.”

If Xu Jing followed the times step by step and embarked on the road of transformation, Zhang Yu (pseudonym) is a typical representative of crossing the river by touching the stone.

In 2020, the horn of returning to work after the epidemic sounded, “local life” has become the market that major platforms are scrambling to target, and “exploring stores” happens to be an important link in local life.

According to iResearch consulting data, the local living service market will grow from 19.5 trillion yuan in 2020 to 2025

“Smart hotel” brings good travel experience (Online China)

Our reporter Zhou Shuyun

Enter the hotel and check in at the intelligent front desk; Scan QR code, use your finger to reserve room service… 5g, big data, artificial intelligence and other new technologies have developed rapidly, and tourism related industries such as hotel accommodation have accelerated digitization. During the epidemic prevention period, while the accommodation industry is facing challenges, it also continues to innovate and upgrade with the help of the Internet and launch characteristic digital products and services. So, what are the good experiences of Internet enabled hotels?

It’s easier for guests to stay

Ms. Zhang, who is on a business trip in Shenzhen, recently checked into the yasfield hotel near Bao’an International Airport. “The hotel is becoming more and more intelligent. During the epidemic prevention period, I can not only check in without contact, but also choose delivery and cleaning services through my mobile phone.” Ms. Zhang sighed, “it’s really reassuring and reassuring!” It is understood that yasfield hotel belongs to yaster hotel group, which is starting digital transformation. “Hotel digital transformation is the inevitable choice to understand customer needs.” Yu Chao, vice president and chief digital officer of yaster hotel group, said in an interview with this newspaper that the system built by the hotel based on the Internet can get through the data of all end applications, so as to understand consumers’ behavior preferences and habits, so as to improve the service quality.

Wanda hotels and resorts also provide better services to guests through digital empowerment. Mr. Li’s family who stayed in Shanghai Wanda Meihua Hotel enjoyed a series of intelligent services such as online room selection, self-service check-in, robot delivery, self-service invoicing and so on through the wechat applet of Wanda hotel. It is reported that Wanda hotel has developed a guest experience system internally to obtain the preference options of guests by controlling the data of various service scenarios before, during and after their stay, so as to make service preparations in advance, meet the needs of guests at different stages, and effectively improve service quality and efficiency.

“In the past two years, the epidemic has brought more uncertainty, and the hotel’s business environment and customer needs have become more and more changeable.” Ding Zhigang, vice president of China Hotel Association, said in an interview with our reporter, “Many exclusive digital products and services have emerged in the accommodation industry. For example, AI intelligent front desk can effectively handle nearly 90% of guests’ pre stay consultation, in stay customer demand service and post stay feedback. This effectively solves the repetitive inquiry work, and the staff have more energy to devote to personalized services.”

More efficient hotel management

In addition to providing guests with a satisfactory accommodation experience, digitalization also enables all aspects of hotel operation and improves management efficiency. For example, in the past, when checking and cleaning hotel rooms, people needed to make a paper version of the article registration form, which was not only easy to make mistakes, but also inconvenient to manage. Now, employees can use the room management system to register and check items online after logging in. The system automatically conducts material inventory every day to quickly obtain accurate data, so that employees can reduce time-consuming and redundant operations and have a better work experience.

In terms of human resource management, digital technology has helped many hotels synchronize personnel recruitment, personnel training, personnel files, performance, salary calculation, welfare payment, accommodation management, etc. in one system, so as to systematize personnel information, provide data for management and basis for promotion. Through app, employees can view Commission performance on mobile phones, and salary management is more transparent and standardized. For chain hotels, with the increase of hotel scale, the difficulty of talent recruitment and management will increase, and digitization can effectively reduce the dependence of enterprises on people and standardize management and service.

Richer online products

In addition to the self built system, the comprehensive tourism travel platform is also the position for the hotel to develop its own digital operation. Some travel platforms are equipped with digital business diagnosis background to provide targeted digital business solutions for various types of businesses such as hotels, and help businesses improve their business capabilities, including traffic operation, user operation, member operation, brand marketing, etc. “Businesses can interact directly with consumers and provide consumers with the same prices and rights as their official website.” Industry insiders said that as a technical service provider, on the one hand, the platform upgrades the technical capacity of products and serves businesses to do a good job in the operation of package goods; On the other hand, we will work with businesses to adjust product ideas and develop package products of “Hotel + play tickets”, “Hotel + catering” and “Hotel + experience” to promote the upgrading of play methods by meeting people’s diversified and personalized hotel consumption needs.

The hotel embraces digitization, which will open a new era of smart tourism. Intelligent service and intelligent product upgrading will be the trend in the future. Many single hotels or chain brands are establishing their own “smart hotels”. Real intelligence is based on the data collection of real scenes. Through intelligent analysis, it can adapt to various scenes, continuously optimize products and improve services, and provide customers with new personalized services. The industry needs to continue to explore together and use digitization as a tool to create greater value for consumers and businesses.