Oct 30, 2021 | Business
On 27 October, China’s National Health Commission (NHC), the authority responsible for the medical industry, issued a new policy that calls for the regulation of China’s fast-growing internet healthcare industry. The policy is expected to push China’s internet healthcare industry from the period of minimal regulatory constraints into the era of standardized development.
According to the NHC, as of June 2021, the number of internet hospitals in China has exceeded 1,600, the internet hospital is the provider of online medical services such as online consultations. The first Internet hospital in China was established in 2015 in Wuzhen, Zhejiang province by digital medical service platform WeDoctor.
This policy has generated widespread interest within the Chinese healthcare industry since its release, and the regulatory measures taken by Beijing on the education and training industry since the third quarter of this year have caused participants in various industries to be very concerned about the potential impact of the regulation. Unlike the education and training industry, the regulatory policy on online medical consultation has been well received within the industry, with the release of the policy seen as beneficial to the development of the internet healthcare industry, especially for some of large digital medical platforms that engage strictly online medical services.
The document, titled “Rules on the Regulation of Online Medical Consultation (Draft for Comments)”, states that physicians are required to authenticate their real identity before providing consultations to ensure that such online consultations are provided by the said doctor. Other people, AI software, etc. are not allowed to impersonate or replace the physicians themselves. As a result, some companies that focusing on using AI technology to provide consultation services may be negatively impacted.
China does not allow internet healthcare platforms to use consultations as a tool for the sale of prescription drugs. The policy proposes that the occurrence of unified prescriptions and prescription refills is prohibited, that the personal income of healthcare workers must not be linked to income from drugs and medical examinations, and that doctors must not designate locations to purchase drugs and consumables.
In a report published by the People’s Daily, Liao Jieyuan, founder of China’s largest digital medical service platform WeDoctor, believes that the policy has released a clear signal that online medical consultation should be of the same quality as that provided by physical institutions, reflecting China’s determination to develop digital medical services, which is essential for the standardized development and market expansion of the Internet healthcare industry.
The healthcare services and physical hospitals nowadays in China are unable to meet the huge demand of its 1.4 billion population. Platforms such as WeDoctor have leveraged technology to help alleviate the demand and supply imbalance in China’s healthcare industry.
According to a publicly released research report by CICC, with the regulatory policies for internet healthcare becoming more transparent and standardized, companies providing actual medical services with a sound regulatory compliance system are expected to benefit the most.
(
Aug 22, 2021 | Business
Li Jiaqi, dubbed China’s “King of Livestreaming E-commerce,” is set to host a pioneering fashion show format at the iconic Shanghai K11 Art Mall on August 19-22. Li is taking Li Jiaqi WoW, his shopping information and recommendation program, offline for the first time, and will feature the involvement of five prominent Chinese designers, each based around the world. Through livestreaming, the audience will be able to communicate with the different designers as they open virtual “doors.” The Shanghai show represents the beginnings of Li’s grand vision as he looks to extend his influence on a global scale.
Li is China’s most popular key opinion leader (KOL) in the livestreaming e-commerce industry – with nearly 170 million fans – and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, livestreaming e-commerce has grown in popularity in China. Outperforming all other shopping channels, its user scale reached 388 million till December 2020, 66.2% of whom bought products via this channel, China Internet Network Information Center (CNNIC) says.
Compared to traditional online shopping, livestreaming e-commerce provokes a greater consumer response through lively visual demonstrations, greater convenience, and more affordable price during the nationwide lockdown caused by the COVID-19 pandemic. Livestreaming e-commerce is especially popular during China’s e-commerce festivals, such as the 618 Festival – a June festival run by many of China’s e-commerce companies -with 14.2 billion views and over 100,000 brands involved in livestreaming influencer marketing in 2021.
At the heart of China’s livestreaming e-commerce world as well as a contributor of such accomplishment, Li Jiaqi is a force of nature. Ever since entering the industry, Li has been a trendsetter, his opinions delivered with iconic style. A “Recommended by Li Jiaqi” endorsement can truly change a company’s fortunes. Florasis, a Chinese makeup brand, was one such company, quadrupling its sales year-on-year to RMB 2.75 billion after partnering with Li, rocketing them the top of Chinese makeup brands for 2020. Leveraging his powerful influence, Li has led dozens of Chinese brands to nationwide popularity, leading to him being dubbed China’s “top domestic product promoter.”
Behind Li’s to rise to fame are tags such as “Made in China,” “makeup,” and “lipstick,” but deep down, Li has always had a greater ambition. In August last year, Li Jiaqi’s team launched China’s first livestreaming shopping information and recommendation program, Li Jiaqi WoW, a confluence of information on new products, available globally, across a number of categories. This shift to a more global focus is all part of Li’s efforts to import designer brands around the world into China’s market. Since then, Li Jiaqi WoW has aired nearly 50 episodes, eliciting a strong response across China’s social platforms, such as Weibo, TikTok (Douyin), and Xiaohongshu (RED). The program is expected to further integrate offline channels as it looks to provide designers and brands with better opportunities for promotion.
Li’s move of promoting international brands nationwide via his livestreaming channel has worked out favorably for most featured brands. In a Salvatore Ferragamo live broadcast, for example, two hundred Salvatore Ferragamo Creation handbags, priced at RMB 17,000 each, quickly sold out.
Li Jiaqi’s story is not simply one of commerce and consumption, but also one that reveals the ongoing change in brand marketing and promotion in China followed by technological development and changes in Chinese people’s consumption behavior.
As the “door” metaphorically implies in Li Jiaqi’s new product launch, live streaming e-commerce breaks borders and boundaries of space via online and offline channels, and presents brands to the market at a minimum cost, maximizing benefits for both brands and consumers. The CNNIC stated in its report that livestreaming e-commerce users made up a mere 39% of China’s netizen population as of December 2020. Given the country’s total internet user population of 989 million, as well as its internet penetration rate of 70%, livestreaming e-commerce is certain to grow its market share in the coming years, with data analytics company iiMedia Research predicting that by 2025, China’s livestreaming influencer-led e-commerce transaction volume will reach$1 trillion (RMB 6.4 trillion).
Topic: Press release summary
Aug 20, 2021 | Business
Li Jiaqi, known for his successes as a livestreaming e-commerce influencer, is set to host a fashion show at the iconic Shanghai K11 Art Mallon August 19-22. The show will feature both online and offline elements, in line with recent shopping trends in China. By taking Li Jiaqi WoW, his personal shopping information and recommendation channel, offline for the first time ever, Li will encourage viewers to interact with the five participating up-and-coming Chinese designers, based around the world, via livestreaming behind the “door” (in Li Jiaqi’s new product launch, the word “door” metaphorically implies the bridge between online and offline channels). Different from conventional livestreaming shows, Li Jiaqi’s team has created an immersive showcase of interconnected livestreaming and e-commerce elements.
Li is China’s most popular key opinion leader (KOL) in the livestreaming e-commerce industry – with nearly 170 million fans – and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, livestreaming e-commerce has grown in popularity in China. Outperforming all other shopping channels, its user scale reached 388 million till December 2020, 66.2% of whom bought products via this channel, China Internet Network Information Center (CNNIC) says.
Compared to traditional online shopping, livestreaming e-commerce provokes a greater consumer response through lively visual demonstrations, greater convenience, and more affordable price during the nationwide lockdown caused by the COVID-19 pandemic. Livestreaming e-commerce is especially popular during China’s e-commerce festivals, such as the 618 Festival – a June festival run by many of China’s e-commerce companies -with 14.2 billion views and over 100,000 brands involved in livestreaming influencer marketing in 2021.
At the heart of China’s livestreaming e-commerce world as well as a contributor of such accomplishment, Li Jiaqi is a force of nature. Ever since entering the industry, Li has been a trendsetter, his opinions delivered with iconic style. A “Recommended by Li Jiaqi” endorsement can truly change a company’s fortunes. Florasis, a Chinese makeup brand, was one such company, quadrupling its sales year-on-year to RMB 2.75 billion after partnering with Li, rocketing them the top of Chinese makeup brands for 2020. Leveraging his powerful influence, Li has led dozens of Chinese brands to nationwide popularity, leading to him being dubbed China’s “top domestic product promoter.”
Behind Li’s to rise to fame are tags such as “Made in China,” “makeup,” and “lipstick,” but deep down, Li has always had a greater ambition. In August last year, Li Jiaqi’s team launched China’s first livestreaming shopping information and recommendation program, Li Jiaqi WoW, a confluence of information on new products, available globally, across a number of categories. This shift to a more global focus is all part of Li’s efforts to import designer brands around the world into China’s market. Since then, Li Jiaqi WoW has aired nearly 50 episodes, eliciting a strong response across China’s social platforms, such as Weibo, TikTok (Douyin), and Xiaohongshu (RED). The program is expected to further integrate offline channels as it looks to provide designers and brands with better opportunities for promotion.
Li’s move of promoting international brands nationwide via his livestreaming channel has worked out favorably for most featured brands. In a Salvatore Ferragamo live broadcast, for example, two hundred Salvatore Ferragamo Creation handbags, priced at RMB 17,000 each, quickly sold out.
Li Jiaqi’s story is not simply one of commerce and consumption, but also one that reveals the ongoing change in brand marketing and promotion in China followed by technological development and changes in Chinese people’s consumption behavior.
As the “door” metaphorically implies in Li Jiaqi’s new product launch, live streaming e-commerce breaks borders and boundaries of space via online and offline channels, and presents brands to the market at a minimum cost, maximizing benefits for both brands and consumers. The CNNIC stated in its report that livestreaming e-commerce users made up a mere 39% of China’s netizen population as of December 2020. Given the country’s total internet user population of 989 million, as well as its internet penetration rate of 70%, livestreaming e-commerce is certain to grow its market share in the coming years, with data analytics company iiMedia Research predicting that by 2025, China’s livestreaming influencer-led e-commerce transaction volume will reach$1 trillion (RMB 6.4 trillion).
Topic: Press release summary
Aug 12, 2021 | Business
Along with changes in the domestic and foreign regulatory environments and the policy reform of the Hong Kong Exchanges and Clearing Limited (HKEX), the Hong Kong market becomes increasingly attractive to some China-based US-listed companies. The return of China-based overseas-listed companies has become a trend now. Li Auto Inc (2015.HK) is among the three major China-based overseas-listed NEV companies listing on HKEX today through a dual primary listing, after Xpeng Motors Inc (9868.HK) was listed in Hong Kong on July 7. The IPO is jointly sponsored by Goldman Sachs and China International Capital Corporation (CICC), with UBS as the financial advisor.
Advanced Smart Automobile Solutions Drive Rapid Sales Growth
Li Auto Inc, incorporated in 2015, is a Chinese NEV (new energy passenger vehicle) automaker, specializing in designing, developing, manufacturing, and sales of premium smart electric vehicles. On July 30, 2020, Li Auto Inc was listed on the Nasdaq Global Select Market under the symbol LI.
Li ONE, as Li Auto’s first extended-range electric passenger vehicle (EREV), is a six-seat large premium electric SUV (sport utility vehicle) equipped with the Company’s independently developed range extension system and advanced smart vehicle solutions. An EREV is purely electric-driven by its electric motor, but its energy source and power come from both its battery pack and range extension system. With its integrated powertrain system, Li ONE delivers a total NEDC range of 1,080 kilometers. Meanwhile, this model’s energy can be replenished by slow charging, fast charging, and refueling. Li ONE can operate even when users have no access to charging infrastructure, thereby completely eliminating range anxiety.
Advanced technology not only improves product quality, but also significantly promotes the Company’s sales. Data after the hearing showed that the total number of vehicles that the Company delivered in the first quarter of 2021 was 12,579, representing an increase of 334.4% YoY. The delivery volume in the first half of this year already represented around 92% of that in the previous year. As of July 31, 2021, total deliveries in 2021 reached 38,743, bringing cumulative deliveries of Li ONE to 72,340 since its market debut. In 2020, Li ONE was recognized as the best-selling new energy SUV model in China with a 9.7% market share according to the CIC Report.
Multi-faceted Comprehensive Layout of Dual Listing to Enhance Competitiveness
Li Auto is accelerating to fully develop its R&D, capacity, and channels, while maintaining the current business. Currently, the Company is developing the X platform, which succeeds the existing EREV platform for Li ONE and is equipped with the next-generation EREV powertrain system. The Company plans to launch the first product on the X platform, a full-size premium extended-range electric SUV – in 2022, and two additional SUVs on the platform in 2023.
In terms of BEV models, Li Auto is investing significantly in the HPC (High-power Charging) BEV technologies, and developing two platforms, Whale and Shark, for its HPC BEVs. Starting from 2023, the Company plans to launch at least two new HPC BEV models every year.
In regard to autonomous driving, Li Auto is strengthening R&D and investing significantly in its proprietary autonomous driving technologies. It is expected that all the new models of the Company will be equipped with necessary hardware compatible with in-house developed, future Level 4 autonomous driving as a standard configuration from 2022. Furthermore, the Company will continue to optimize its autonomous driving solutions leveraging its full-stack proprietary software development capabilities.
China has become the world’s largest NEV market. In recent years, the growth of NEV sales volume has surpassed that of the ICE vehicles in China. According to the CIC Report, the NEV sales volume in China increased from 300,000 in 2016 to 1.2 million in 2020, representing a CAGR of 41.7%. In 2020, the NEV sales volume only accounted for 5.8% of the total passenger vehicle sales volume, implying massive future growth potential.
It is expected that the NEV sales volume in China will continue to rise at the CAGR of 35.8% from 2020 to 2025, driven by favorable policies, constantly developing auto technology, a rapid decrease in battery costs, and higher popularity of NEVs among consumers (due to a deeper understanding of intelligent technology and the Internet and demand growth), the CIC Report showed.
Li Auto Inc, as one of the top three Chinese new auto brands, choosing dual primary listing in Hong Kong, will expand the financing channel and acquire sustainable financial support. The primary listing of Li Auto offers a lot of capital reserves to future technology development and product R&D in order to further reinforce its competitiveness and consolidate and raise its market share.
Jul 1, 2021 | Business
Chinese sportswear brand Anta presented Team China’s podium uniform for the Tokyo Olympics, called ‘Champion Dragon Clothes’ on June 25 in Beijing. The uniform is designed by Tim Yip, also known as Ye Jintian, the renowned art director, visual artist and Oscar winner for best art design. According to Ye, the uniform combines Chinese traditional cultural icons, beauty and advanced sportswear technologies. The designer said he hoped to show the beauty of Chinese culture in the most creative design language to the world.”This is probably the longest time in history it took to design the Champion Dragon Clothes for Team China. It’s different from designing costumes for movies or shows. We need to show the beauty of athletes’ body, so we have conducted many studies,” said Ye.”We also used many advanced technologies and high-quality materials for different functions of the uniform. During the process, I’ve been impressed by Anta’s technologies, especially the shoes. It’s fresh and interesting for me to learn about making sneakers lightweight, yet with good breathability and durability at the same time.”Working with the Chinese Olympic Committee for 16 years, Anta has invested over 3 billion yuan ($460 million) in the research and development of sportswear technology. Throughout the years, Anta has provided sportswear to 28 Chinese national teams in different Olympics.Anta also launched specially-designed sportswear and equipment for different sports at Friday’s event. For example, the custom-made weightlifter’s shoes are 2.5 times stronger than regular footwear and can handle weights of more than a ton.The unique support system of the weightlifting suit can improve waist support and prevent muscle strain; while the wrestling uniform, with anti-grab fabric technology, reduces the chance of being grasped by the opponent. Gymnastics and trampoline suits are tailored in 3D to protect the human body from injury in every movement, particularly high-intensity aerial movements, and from being affected by wind resistance.With the help of the competition equipment created by Anta, Chinese athletes have won 111 medals in various world competitions, including the Olympics. Anta has applied each of these sports science and technology achievements to commercial sports equipment, using technology to protect every sports enthusiast.”Sponsoring Olympic teams has always been one of our focuses. We have provided sportswear for Olympics in different climates as well, and we have more than1,400 patents to show for it,” said Wu Yonghua, executive director of Anta Group.”We work closely with the Chinese Olympics, yet we work with Chinese sports generally. As we designed the Team China podium uniform to show the best of Chinese culture, we also use the best sports technology to manufacture it.”
