Innovative diagrams of medical beauty, according to ICphoto

In fact, the “black medical beauty” has been repeated. According to the Aesi consultancy data, over 15 per cent of China’s illegal health projects in 2020 account for up to 88 per cent of the industry. There are more than 100,000 illegal medical practitioners in the United States and only 28 per cent of the industry. The analysis of the current state of health sector development in China from 2019 to 2025 indicates that the volume of “black clinics” is 2.5 times higher than that of formal institutions.

It is difficult to find in hidden corners and to govern the regulatory sector.

Multisectoral joint governance, clear division of labour

Strengthening efforts to combat illicit medical practices

IFJ journalists found that, as far back as 2017 and 2021, there was a multi-sectoral joint anti-merger paper, and that, in this context, the number of joint departments reached a new high of 11.

In 2017, the former Board of Integrated Supervision of the National Health Administration issued a circular stating that, in order to further safeguard the legitimate rights and interests of consumers and to protect the health of the people, the National Board of Health, the Central Network Agency, the Ministry of Public Security, the Ministry of Human Resources Social Security, the Customs Service, the General Directorate of Commerce and Industry, and the General Directorate of Food and Drug Control jointly launched a special programme of action to combat illegal medical beauty in seven departments, in May 2017-April 2018. Specialized operations cover the use of drugs such as transparent acid, glue protein, meat toxins, the production of medical equipment and medical aesthetic training, the promotion of full chain of advertising, and the suppression of illegal medical devices, non-medical aerosols, non-medical aerosols and non-medical aerosols.

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In June 2021, eight departments such as the National Health Board, the Central Network Office, the Ministry of Public Security, the General Customs Administration, the General Directorate of Market Supervision, the National Post Office, the National Agency for Pharmacy and the National Central Medical Service issued a special programme of work for the rehabilitation of services for combating illegal medical aerobic services, which was implemented throughout the country in June-December 2021. The process involved combating the illegal conduct of medical aesthetic activities, regulating medical aesthetic services, combating the illicit sale of pharmaceutical equipment, detecting illegal advertising and Internet information.

On 4 May 2023, the General Directorate for the Supervision of the National Market, the Ministry of Public Security, the Ministry of Commerce, the National Commission for Health, the General Customs Administration, the State Tax Administration, the Office of the National Network, the National Central Medical Agency, the National Drug Administration, the Supreme People’s Court and the Supreme People’s Procuratorate issued the Guidance jointly. The Guidance further strengthens the regulation of the medical aesthetic industry by making it clear that medical aerobic services are medical activities and that laws and regulations governing access to health-related industries must be respected.

According to the aforementioned document, the National Tax Administration, the Supreme People’s Court and the Supreme People’s Procuratorate have for the first time joined in joint work on the regulation of the medical aesthetic industry.

As a senior industry practitioner, observer, the Standing Board of the Association of Metro-Medical Industries, 龚t, tells red-constelers, “on the grounds that non-legals not only profit but also kill, may involve a number of malignant medical accidents or smuggling”.

The arduous view was expressed that, throughout the course of industrial governance, there might be problems with tax inspection, some involving criminal offences. “The introduction of the Supreme Law and the Supreme Court is thus a logical matter”.

Prior to the issuance of this Guidance, the Supreme Court has in fact begun to be involved in the field of medical beauty.

On 6 April 2023, the Supreme People’s Procuratorate issued six examples of criminal offences committed by the prosecution service in the area of medical aesthetic offences. The case focuses on disclosure of the main forms of crime in the area of medical beauty, revealing the common risk of consumers choosing medical beauty, and alerting consumers to the rational choice of medical beauty services.

Since September 2022, the National Prosecutor’s Office has focused on the area of medical beauty, and has been actively engaged in the promotion of special treatment with such sectors as market regulation, in order to strictly combat criminal activities in this area, such as false advertising, illegal pedagogical practices, counterfeit sales, trademark abuse, smuggling and price fraud. A total of 89 cases of offences involving medical aesthetic offences have been authorized by the national prosecution service since the special case. A total of 838 cases of public interest litigation in this area were filed. 465 pre-appeal recommendations issued to the executive.

On 15 March 2023, in a typical case of consumer rights protection issued by the Supreme People’s Court, a case involving medical beauty consumption was published, making it clear that the Consumer Rights Protection Act could be applied in cases of medical aerobic abuse.

Various industry practitioners have expressed to the inner journalists that the best laws and best practices have already contributed to the governance of problems in the area of medical beauty, and this joint work initiative has also demonstrated the further strengthening of the fight.

Under “Supervisory Storms”

Are there hidden corresponsibles to hide the symptoms?

In the fervent view, the Guidance maintains a high-pressure posture on prominent issues such as illegal medical practices in the medical aerosthetic industry, false propaganda, fake-outs and price fraud.

At the same time, he expressed some concern at the strenuousness of the Israelis and Palestinians, and he said that

The operation of fund portfolio business is moving towards standardization. With the advent of the deadline for rectification on June 30, many fund big V handed over the authority of fund portfolio management.

In the early morning of May 11, the fund V “migrant workers look at the market”, which has more than 200000 fans, issued a document saying: “transfer the portfolio and upgrade the investment adviser. Transfer the fund portfolio to the investment adviser Huabao securities, the principal loses the operation authority, and the position adjustment will be operated by the investment adviser in the future.”

Two days earlier, the fund V “Unveiling” with 600000 fans said on its official account that some of its fund portfolios had completed the compliance upgrade, and the principal was changed to Huabao securities, that is, its fund portfolios had been transferred to Huabao Securities for full management.

“Securities companies pay more attention to compliance, and Huabao’s boss in charge of business is also a big V, which is convenient for communication.” A big V who transferred the management authority of the fund portfolio to Huabao securities told the 21st Century Business Herald reporter, “we will choose institutions with good research strength to transfer, and we also look forward to improving the holding experience of investors”.

According to the statistics of the 21st Century Business Herald reporter, since the release of the regulatory policy, Huabao securities has taken over the fund portfolio of several big V’s such as “Galaxy battleship”, and there are more than 20 online fund investment advisory products at present.

As the second batch of securities companies approved for investment advisory pilot business, Huabao Securities said that the fund investment advisory business will be the strategic business direction of the development of wealth management business of Huabao securities in the future. In the future, it will comprehensively empower the portfolio macro asset allocation, meso industry selection and micro target research, so as to bring better holding experience and investment return to investors.

In November 2021, the regulatory authorities required institutions with fund investment advisory licenses to engage in relevant businesses.

According to the notice on regulating fund investment suggestion activities issued by the securities regulatory bureaus of Beijing, Shanghai, Guangzhou and other places, providing fund portfolio strategy suggestion activities as fund investment consulting business shall comply with the fund law and relevant requirements on the qualification management and code of conduct of fund investment consulting business.

At the same time, institutions without the qualification of fund investment consulting business shall not provide suggestions on fund portfolio strategy, specific fund composition proportion in fund portfolio, show the performance of fund portfolio and provide position adjustment suggestions.

In addition, the notice gives two time limits to relevant institutions, including that the fund investment advisory institution adjusts the stock to comply with the pilot notice before December 31, 2021, and the sales institution without investment advisory qualification rectifies the stock to comply with the above-mentioned legal relationship before June 30, 2022.

With the advent of the rectification deadline on June 30, the fund portfolio business is accelerating and standardizing.

Fund V “migrant workers look at the market” believes that the fund portfolio has four main outcomes: first, dissolution; Second, the principal fund, big V entry funds, securities companies and other institutions, or the principal itself is in the institution and directly upgrades the portfolio; The third is to upgrade the portfolio of other fund investment advisers and directly hand over the ownership to the investment advisory institutions; The fourth is to transfer the right of patron and upgrade the operation combination.

On May 9, the big V “Unveiling” with more than 600000 fans sent a document saying that it chose to change the principal of the fund portfolio to Huabao securities.

The “Unveiling person” mentioned that “according to the new investment advisory regulations, only licensed investment advisory institutions can carry out fund portfolio business. At present, my three portfolios are in the process of compliance upgrading, of which the ten-year fixed investment growth portfolio has been officially upgraded, the upgraded new portfolio is the best choice for ten-year growth, and the principal has been changed to Huabao securities”.

A person from a securities firm in Shenzhen said that the “Unveiling” belongs to the mode of transferring the portfolio and upgrading the investment adviser, and some big V choose to join the securities firm directly.

The 21st Century Business Herald reporter learned that the “bank screw” team of fund V, which manages 20 billion assets, chose to join Dongfang securities, and “screw” served as the chief investment adviser of Dongfang securities after taking office.

It is reported that with the entry of members of the “bank screw” team, the assets and Strategies of the fund portfolio will also be transferred to Oriental Securities. In the future, the fund portfolio will be managed by the “bank screw” investment advisory team and provided with investment advisory services by Oriental Securities.

As for whether the investment advisers handed over to securities companies are public offering investment advisers, a big V said that the advantage of public offering is its relatively strong investment ability, because there is a fof team and strong investment research support. The advantages of securities companies are also obvious. You can safely choose funds in the whole market without buying a pile of products from your own fund companies, and some securities companies have stronger research teams.

In more than two years of pilot fund investment advisory business, 29 securities companies have successively entered the Bureau.

According to the incomplete statistics of the 21st Century Business Herald reporter, 59 institutions have been approved, including 24 public fund companies (including subsidiaries), 29 securities companies, 3 banks and 3 independent sales institutions.

Under the background of the continuous expansion of pilot institutions and the increasing competition in the industry, the institutions that have obtained the fund investment advisory license are accelerating the development of the industry.

According to public information, the contracted asset scale of fund investment consulting business of Huatai Securities, Guolian securities and Guotai Junan successively exceeded 10 billion yuan at the end of 2021.

As of December 31, 2021, the number of customers participating in “worry free investment” of Huatai Securities has exceeded 700000; The number of contracted customers of “general direction” fund investment advisory business of Guolian securities has exceeded 150000; Guotai Junan “Junxiang investment” fund has more than 170000 contracted customers.

At present, many securities firms regard the fund investment advisory business as an important part of the big wealth management business. For example, the core of Guosen Securities Investment consulting business is the fund investment consulting center, which is responsible for the product research of public and private funds in the whole market, building and maintaining the core product pool, organizing staff training and providing customers with whole process service support.

At present, China’s wealth management market has broad prospects, and the wealth management market is standing at the turning point of the times. According to BlackRock’s estimate, in 2025, China’s household asset management scale (AUM) will reach 140 trillion yuan, accounting for more than 100% of GDP for the first time. In the context of “housing, housing and non speculation”, the attraction of real estate gradually decreases, which means that the market demand for financial assets is increasing day by day. Compared with real estate, the investment of financial assets needs more professionalism, which accelerates the transformation of wealth management industry