The Central Economic Work Conference was held in Beijing from December 11 to 12 to comprehensively summarize the economic work in 2023, deeply analyze the current economic situation, and systematically deploy the economic work in 2024.
The meeting pointed out that efforts should be made to expand domestic demand. It is necessary to stimulate consumption with potential, expand productive investment, and form a virtuous circle in which consumption and investment promote each other. Promote consumption from post-epidemic recovery to continuous expansion, cultivate and expand new consumption, vigorously develop digital consumption, green consumption, and healthy consumption, and actively cultivate new consumption growth points such as smart homes, cultural and entertainment tourism, sports events, and domestic "trendy products". Stabilize and expand traditional consumption, and boost bulk consumption such as new energy vehicles and electronic products.
It is worth noting that healthy consumption is a consumption track that needs to be vigorously developed by the Central Economic Work Conference, and this type of consumption has been vigorously developed and expanded, which not only meets the current health needs of residents, but also brings development opportunities to the industry.
It is understood that the health consumption industry mainly includes medicine and health and other industries, in the context of the expansion and vigorous development of health consumption, these two industries will usher in a good future; it is worth noting that in the context of expanding health consumption, the dairy industry is also moving closer to the development of health consumption.
Vigorously develop healthy consumption
It will bring new impetus to the development of the pharmaceutical industry
As one of the traditional consumption tracks, healthy consumption has always attracted the attention of the public. Among them, medicine is the main body of health consumption. With the improvement of residents' health literacy, more and more citizens accept the concept of "early prevention and early treatment", which indirectly prompts some pharmaceutical products to attract attention.
In terms of overall performance, the pharmaceutical industry maintained steady growth this year, with the total revenue of 330 listed pharmaceutical companies in the first three quarters, including the Science and Technology Innovation Board, reaching 1.66 trillion yuan, an increase of 7.6% year-on-year, and the net profit attributable to the parent company reaching 158.4 billion yuan, a year-on-year increase of 2.2%. Among them, taking Baiyunshan, a leading pharmaceutical listed company, as an example, in the context of public concern about health, the company's revenue in the first three quarters was 58.185 billion yuan and net profit was 3.791 billion yuan, an increase of 6.16% and 9.12% year-on-year respectively.
At present, health consumption is developing steadily, and some industry insiders believe that expanding health consumption will bring new development impetus to the entire industry.
Li Chuyuan, Secretary of the Party Committee and Chairman of Guangzhou Pharmaceutical Group, said that healthy consumption is one of the most dynamic segments of the consumer market, and the Central Economic Work Conference proposed to vigorously develop healthy consumption, which is not only an important measure to expand domestic demand and deepen the supply-side structural reform, but also an accurate insight into the current consumption trend and consumption trend.
"After the epidemic, people are paying more and more attention to health, and they are more willing to spend health, and they are more invested in health. The concept of health management has also changed from focusing on 'treating the disease' to focusing on 'treating the disease before it happens'. The future market potential of health consumption is huge, and the development prospects are very broad. Li Chuyuan said that in terms of the layout of healthy consumption, GPC has created characteristic industries such as fashionable traditional Chinese medicine, innovative chemical medicine, biomedicine, medicine and medical care, and constantly met the growing health needs of the people.
The consumption of the big health industry ushered in a favorable development
A variety of health consumption will become a new growth point
In addition to benefiting the pharmaceutical sector, expanding health consumption will also have greater development space and momentum in the future as a large health industry with more direct consumption attributes.
According to the National Bureau of Statistics, in the first three quarters of this year, the per capita health care consumption expenditure of residents in the country was 1,835 yuan, an increase of 15.0%, accounting for 9.4% of the per capita consumption expenditure. People's consumption of health is at an all-time high.
In the big health industry, home health management is one of them, which includes two major sectors: home health equipment and Internet health management. It is reported that the consumer demand for miniaturized health management equipment is rising this year. For example, on the current major Internet e-commerce platforms, miniaturized and intelligent medical devices such as ventilators, oxygen concentrators and electronic sphygmomanometers have become the standard configuration of families like "small household appliances". At the same time, the "Internet +" health services are also accelerating the entry into people's families, including disease antigen self-testing, online consultation (re)consultation, telemedicine and other online family health management services, which are also becoming a hot spot for health consumption.
"(The industry) should conform to the current trend of health consumption, establish more standardized health information transmission channels, and actively develop more diverse and practical household medical devices; We will continue to make efforts to keep close to market demand and encourage more places to take the big health industry as a new economic growth point. Feng Wenmeng, a researcher at the Development Research Center of the State Council, made the above remarks in an interview with the media.
In addition to family health management, the health food industry is also the starting point for the future development of healthy consumption.
This year, the consumption of health food continued to expand, and the performance of relevant listed companies also benefited. For example, in the first three quarters of this year, the revenue and net profit of Tomson Beijian were 7.782 billion yuan, a year-on-year increase of 26.34%, and the net profit was 1.901 billion yuan, a year-on-year increase of 28.28%; In the first three quarters of this year, revenue and net profit recorded 2.503 billion yuan and 185 million yuan respectively, an increase of 39.96% and 5.1% year-on-year respectively.
In the context of the continuous increase in the consumption of health food and the imminent expansion of health consumption, some industry enterprises are optimistic about the future of the market. For example, Xianle Health mentioned in the review of the work of the board of directors this year that the increase in health awareness has promoted the penetration rate of nutritious and healthy foods, and under the influence of fast-paced, information explosion and aging, Chinese consumers have a demand for healthy food consumption, and it is expected that in the next three years, China will be the largest market for health food in the world.
Lay out the health field and pay attention to healthy consumption
The dairy industry is also "speeding up its entry"
Under the tone of expanding healthy consumption, the dairy industry, which is closely related to health, is also moving closer to healthy consumption.
According to Kantar's 2023 China Shopper Report, under the influence of the epidemic and other factors, health products still maintain good growth, and consumers also prefer all kinds of healthy, cost-effective and unique products. Since the beginning of this year, with the increasing attention of domestic consumers to health, the health and functionalization of dairy products have also become a new direction for the head dairy companies to compete.
Yili said that the dairy industry is an indispensable industry for a healthy China and a strong nation. At present, Yili is also increasing investment in nutrition and health research, and promoting the transformation and application of innovative achievements such as sugar reduction, fat reduction and sodium reduction. "In the future, Yili will adhere to the consumer-centric, gather global high-quality resources, deepen global innovation cooperation, create high-quality health products, and make due contributions to improving the level of national nutrition and health."
It is worth noting that many dairy companies have accelerated their entry into the health field, for example, at this year's CIIE, foreign-funded dairy companies such as Nestle and Danone exhibited a large number of functional and healthy new products.
Similarly, domestic dairy companies are more frequently deployed in the field of health. Since the beginning of this year, Yili has launched the world's first functional products such as organic pure milk with active lactoferrin at room temperature, and Mengniu has also launched the first liquid protein nutritional supplement Maisheng Sports Protein Drink, and the two leading dairy companies have accelerated their R&D investment in the field of probiotics and middle-aged and elderly nutrition. At the end of November, Yili's Ausnutria Dairy Company's new probiotic plant in Huai'an, Jiangsu Province, was officially put into operation, and the latter will be responsible for the research, production and application of functional probiotic strains. Earlier, New Dairy also announced the establishment of a "molecular power" company, which will be mainly engaged in the research and development and application of probiotic biotechnology.
With the expansion of healthy consumption, it has become a major trend in the development of the industry for dairy enterprises to enter a healthy layout. Liu Chao, vice chairman and executive deputy secretary general of the China Dairy Industry Association, told the media that in the context of great health, the dairy industry has changed from a simple supply guarantee to a nutritional and healthy type, with milk as the carrier, the development of new nutritional products, and the future development direction of the domestic dairy consumer market is still functional dairy products.
Producer: Nandu Bay Area Financial News Center
Curator: Wang Ying
Co-ordinator: Ma Jianzhong, Chen Yangkai, Dai Yue
Written by: Nandu Bay Finance Society reporter Beibei
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