The price of mutton has dropped, and the sales of Wahaha's Douyin flagship store have shrunk by ninety......

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Social class

1. The central bank said that there is still room for RRR cuts

On March 21, the Information Office of the State Council held a press conference. Xuan Changneng, deputy governor of the People's Bank of China, said at the meeting that the mainland's monetary policy has sufficient policy space and rich tool reserves, the statutory reserve ratio still has room to decline, the decline in deposit costs and the shift in monetary policy of major economies are conducive to broadening the autonomy of interest rate policy operations, and the establishment of scientific and technological innovation and technological transformation re-lending will help accelerate the development of high-end manufacturing and digital economy. In the next stage, the prudent monetary policy will continue to be flexible, moderate, precise and effective, reasonably grasp the relationship between the two largest financing markets of bonds and credit, maintain reasonable and abundant liquidity, promote the steady and moderate decline of corporate financing and household credit costs, continue to do a good job in the "five major articles", increase efforts to revitalize the stock of financial resources, maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and balance the relationship between short-term and long-term, steady growth and risk prevention, internal equilibrium and external equilibrium. (China.com)

2. Domestic air tickets are cheaper in March

In March, domestic air ticket prices fell by about 30% compared with the peak season, and the average air ticket prices to Beijing, Shanghai and other places across the country fell by more than 40%. In addition, some tourist cities with special attractions have also become popular destinations, and some airlines have launched special routes for cherry blossom viewing. There are also airlines that offer special promotions, such as ticket coupons, free high-speed Internet access, extra checked baggage and other services. (CCTV Finance)

3. The Ministry of Education deploys the 2024 high-level recruitment work

The Ministry of Education issued a notice to make arrangements for the enrollment of ordinary colleges and universities in 2024: establish and improve a high-level examination security system, carry out special governance of mobile phone cheating, vigorously promote the fairness of admission opportunities, strictly carry out the examination of registration qualifications, and severely crack down on college entrance examination immigrants, steadily promote the reform of college entrance examination enrollment, strictly regulate enrollment management, and optimize examination enrollment publicity services. (People's Daily)

4. The price of lamb has dropped

According to the data of the key agricultural product market information platform of the Ministry of Agriculture and Rural Affairs, on March 19, the national average wholesale price of mutton was 64.01 yuan per kilogram. Compared with 68.87 yuan per kilogram on March 20, 2023, a year-on-year decrease of about 7%. Supply and demand affect the price of lamb in the market. Since 2012, China has become the world's largest importer of mutton. In 2023, China's total mutton imports hit a record high of 434,000 tons, an increase of 21.2%, accounting for about 6% of the total annual meat imports. While the volume of imported mutton has increased significantly, the price has fallen, which has lowered the price of mutton in the Chinese market. (Interface News)

After 5.00, there is already a sense of making a will

On March 21, the China Wills Database released the 2023 White Paper on the China Wills Database. The number of young and middle-aged people who have made wills in the China Wills Database is also increasing, and wills are being accepted by more young people. From 2017 to 2023, the number of post-80s people who made wills in the China Wills Bank increased by 21.5 times, and the number of people who made wills after 90s increased by 11.2 times. Similarly, the number of post-00s who make wills is also rising, according to the statistics of the white paper, a total of 167 post-00s will will be made in the China Wills Database in 2023, a growth rate of 24.62% compared with 2020. (CCTV News)

Enterprise

1. JD.com plans to reduce its stake in Yonghui by 1%.

On March 20, Yonghui Supermarket announced that the company's shareholder Suqian Hanbang Investment Management Co., Ltd. and its concerted actor Beijing Jingdong Century Trading Co., Ltd. plan to reduce their holdings of the company's shares by centralized bidding transactions by a total of no more than 90,750,300 shares, accounting for no more than 1% of the company's total share capital. After the reduction, the two still hold a total of 1.124 billion shares of the company, accounting for 12.39% of the company's total share capital. Some analysts said that the A-share market defines more than 5% of shareholders as "major shareholders". For Yonghui, JD.com's shareholding reduction plan will not affect its corporate governance and normal production and operation. It is worth mentioning that Yonghui's previously announced performance forecast released a positive signal. Yonghui expects that the company's net profit attributable to the parent company in 2023 will decrease by 1.42 billion yuan year-on-year, and the net profit attributable to the parent company after deducting non-profits will decrease by 600 million yuan year-on-year. According to relevant sources, Yonghui's profitability from January to February this year continued to remain stable compared with the same period in previous years, the customer flow of stores continued to rise, and the online business continued to mature, of which February has achieved a monthly profit. (China Business Daily reporter Ran Longnan)

2. Pinduoduo's revenue increased by 90% year-on-year last year

On March 20, Pinduoduo Group released its fourth quarter and annual results report for the year ended December 31, 2023. In the quarter, Pinduoduo Group's revenue was 88.9 billion yuan, up 123% year-on-year, and GAAP operating profit was 22.4 billion yuan. Last year's annual revenue was 247.6 billion yuan, a year-on-year increase of 90%. "2024 will be an important year for Pinduoduo to deepen its high-quality development strategy. Zhao Jiazhen, Executive Director and Co-CEO of Pinduoduo Group, said, "This performance also encourages us to make long-term investment in high-quality development more actively and firmly, and continue to increase investment in the two aspects of 'multi-affordable' and 'good service', so as to help consumers achieve high-quality consumption upgrades." (China Business Daily reporter Chen Qing)

3. SF Express launched the "Online Shopping Return" function

Recently, the reporter found that the SF Mini Program officially launched the "Online Shopping Return" function. When using the return function, the user should first apply for a "return refund" on the e-commerce platform, and then operate the return process after obtaining the consent of the merchant. It is understood that the service is consistent with the SF Standard Express service, but the price is lower than that of the Standard Express. For example, if an online purchase is returned from Beijing to a merchant in Jinhua City, the first shipping fee is 12 yuan if SF Express is used to place an order using "Online Shopping Return", while the shipping fee from Beijing to Jinhua City is 18 yuan when using SF Standard Express. However, compared with the 10 yuan shipping fee officially recommended by the e-commerce platform, SF's "online shopping return" has no price advantage. It is reported that at present, SF Express has launched a 5% discount activity for "online shopping returns", but each user can only enjoy it once. Will you use a return service like SF Express? (China Business Daily reporter Jiang Yongxia)

4. The sales of Wahaha's Douyin flagship store have shrunk by ninety

The popularity and sales of Wahaha-related products gradually returned to a low level after experiencing a sharp rise at the beginning of the month. On March 21, the reporter saw on a third-party data platform that on March 19, the sales of Wahaha's official flagship store on Douyin had dropped from 3 million yuan on March 4 to less than 250,000 yuan, less than 1/10 of the highest daily sales. The peak sales of Wahaha Douyin's official flagship store were concentrated from March 4th to March 7th, and the daily sales volume has always been about 3 million yuan. However, since March 10, sales have been declining, and sales have been below 250,000 yuan for two consecutive days on the 18th and 19th. On March 3, the official flagship store of Douyin Wahaha Douyin showed that many series of Wahaha products were sold out at that time, Wahaha pure water has been changed to pre-sale, and the system shows that it will be shipped on April 2 at the latest, almost nearly 1 month, 24 bottles of AD calcium milk have been sold out, and the other 20 bottles of packaging will take 15 days to be shipped, according to customer service, mainly because they are out of stock due to the sell-out. (CBN)

5. Fresh Taro Fairy responded to the chaos in the kitchen after being exposed

On March 21, some media reported that reporters went undercover in two stores of Xian Taro Xian in Beijing, revealing the chaos in the back kitchen such as ingredients being placed in trash cans and insects flying freely. The staff of Xian Tao Xian headquarters told reporters that the media reported that the situation reported was true, and the headquarters had asked the store to suspend business for rectification. (Red Star News)

6. Hermès was subject to a class action lawsuit over the unspoken rules of distribution

French luxury goods company Hermès has been sued in California, USA, claiming that only Hermès customers with "sufficient purchase history" can buy its famous Birkin platinum bag, a rule that is illegal. In a federal class action lawsuit filed in San Francisco on March 19 local time, two California residents claimed that the sale of Hermes goods was "bundled" with the purchase of other goods, in violation of antitrust laws. According to the complaint, Hermès salespeople do not earn commissions from the sale of platinum bags and are instructed to use the bags "as a way to force consumers to purchase ancillary products." The plaintiffs sought unspecified monetary damages and asked the court for an order prohibiting Hermès' alleged anti-competitive conduct. Neither Hermès nor the plaintiff's lawyer commented on the matter. (Interface News)