This Spring Festival in 2018, Liu Mingzhu, who usually works in Beijing, did not return to his hometown, but spent it in Lhasa. She was not with her family, but with two female friends of the same age, and nine donkey friends contacted on the Internet.

On the afternoon of New Year’s Eve, Liu Mingzhu and his party arrived in Lhasa at an altitude of more than 3,000 meters by 38-hour train. The sunshine in Lhasa at 6 o’clock in the afternoon was still strong, and the excitement of the three people even made them forget the dizziness caused by altitude sickness. When they saw the mountains opposite the railway station, they whispered "Lhasa, I am coming".

For 28-year-old Liu Mingzhu, arriving in Lhasa is like escaping from a cage. The pressure of urging marriage makes it difficult for her to return home. Now, after the New Year, Liu Mingzhu has returned to Beijing, and life remains the same.

Leave home for the New Year to avoid the pressure of urging marriage.

In December 2017, Liu Mingzhu’s sister-in-law gave birth to a baby, and she returned to her hometown in Henan from Beijing. On the second day after the banquet, my parents quarreled at the dinner table. The focus of their argument was why she didn’t have a boyfriend at the age of 28.

Liu Mingzhu’s younger brother and sister almost all got married just after the legal age, and both got married by blind date when they returned home during the Spring Festival. Now that my brother and sister have children, the focus of the family naturally falls on the "older sister".

Liu Mingzhu’s previous growth process once met all the expectations of rural parents for their children: excellent academic performance, admission to prestigious schools, graduate studies, and staying in Beijing after graduation. But now, Liu Mingzhu is out of the expectation of her parents at this stage of marriage.

Although Liu Mingzhu only lived in his hometown for a few days at the end of last year, his parents took separate actions. Liu’s father dug out the paper phone book and called his friends one by one, asking them to worry about their daughter’s marriage with shyness and embarrassment. Liu’s mother went to her neighbor’s house, pretending to ask others casually if there were any young men of the right age who could be introduced to her daughter.

The parents’ performance doubled the pressure on Liu Mingzhu. When she told her friends about her experience of being forced to get married at home, she received the same feedback. "It turns out that this happened not only to me." Liu Mingzhu said. Thinking of the upcoming Spring Festival, I may face a lot of embarrassment after returning home. Several friends who were urged to get married hit it off and decided to go to Lhasa for the New Year in order to escape the marriage.

Elders often arrange blind dates during the Spring Festival.

Liu Mingzhu’s two friends are sisters. Sister Xu Lan is 29 years old and sister Qing Xu is 28 years old. They also suffered from their parents’ urging to get married.

The two sisters’ plan to go to Lhasa during the Spring Festival was opposed by their parents. Two days before the departure, the family started a cold war for this, but the two sisters did not compromise. "This is a trip that goes away." Xu Lan works in her hometown and gets along with her parents every day. In her opinion, the Spring Festival is not a reason to be with her family.

In the hometown of the Xu sisters, during the Spring Festival, there is a fixed meeting place in the town. In a few days near the end of the year, interested parents will take their children there for blind date. In order to avoid embarrassment, many people bought and sold things at the rally in those days, taking the opportunity to chat with others about their family background, work, personality, etc., and then entrusted the matchmaker to act as matchmaker.

In order to avoid blind date, Xu Lan tried to avoid it by various excuses, while her parents always attributed her refusal to "too high a vision". Once, my father was drunk and talked to her. He earnestly advised her to lower her eyes and asked her daughter to "evaluate her own conditions".

Despite her elder sister’s support, Qing Xu, who is currently working as an intern in Beijing, is constantly told by her parents that she wants to find a boyfriend to get married early. Regarding the criteria for choosing a spouse, the two sisters and their families have had numerous disputes. Their parents said that they could not see the situation clearly and they were distressed that their parents did not understand themselves. "I still have time and energy to fight with my family. I don’t want to go against my own ideas." Xu Lan didn’t disclose her specific thoughts. She felt that age was not a weapon for her to compromise.

Everest base camp meets a couple to propose marriage

In addition to Liu Mingzhu and his party, there are nine other donkey friends on this trip to Tibet. They joined the team through a post posted by Liu Mingzhu, and all 12 of them were single young men and women.

Yang Peng is the only child in his family. Born in 1991, he has no girlfriend. Parents have helped him find several girls at home, just waiting for him to have a blind date during the Spring Festival holiday. Yang Peng struggled for a long time before leaving, and finally made up his mind to escape from home and choose to travel for the New Year.

On the day of departure on February 18th, Liu Mingzhu finally chose to stay in Lhasa because of the serious rebellion. In the WeChat group they formed, teammates kept sending her beautiful scenery on the road, but her high reaction has not been completely eliminated. Although it is regrettable, her heart is insufficient. "I really wanted to go to a higher place, but after the driver knew the situation, I was not allowed to get on the bus first, and then I just sat on it, but the driver drove the car directly to the hospital and let me get off there."

On February 20, teammates arrived at Everest base camp. During the break, these single men and women who want to escape the urge to marry saw an unexpected scene: the boy took out his ring and knelt down to propose to the girl. Qing Xu captured a complete video and sent it to Liu Mingzhu, where the onlookers cheered.

After watching the video, Liu Mingzhu returned a message to his teammates: "I didn’t expect that even if I walked to the roof of the world, I couldn’t escape the crit of dog food."

On February 21st, a group of people who ended the tour around Mount Everest shared anecdotes on the road in the group. Some people asked whether they should continue to leave during the Spring Festival next year, and many people raised their hands to respond. To Liu Mingzhu’s surprise, several pairs of people on this train became lovers. "Everyone seems to believe that they will get a chance to find the other half when they come here. Many people start to know each other’s situation on the station wagon, especially when some girls have altitude sickness. At this time, interested boys will take care of them wholeheartedly."

Recently, Liu Mingzhu also returned to Beijing. Although he failed to complete the tourism project as planned, Liu Mingzhu thought that he had figured out many things in Tibet. "I will still stick to my own standards in choosing a boyfriend, but I will also communicate with my family to reassure them."

(The interviewees in this article are all pseudonyms)

　　Recently, "drinking oil" has become a hot search term. Some anchors died because of "drinking oil+drinking"; Some stars say that drinking oil to detoxify can treat diabetes, hypertension, liver cirrhosis and other diseases; Some people say that drinking oil can reduce weight, and some people say that drinking oil can lower blood fat and blood sugar … …

　　In fact, so far, there is not enough scientific evidence to prove that swigging oil and eating oil in a big bowl are good for health.

　　High-fat diet has adverse effects on intestinal flora.

　　Some people say that primitive people did not eat grains, but ate low-carbon water meals. However, archaeological research shows that even in the Stone Age, the energy supply ratio of carbohydrates was around 40%. Moreover, there was no technology to extract oil at that time, so oil was not the food of ancient humans.

　　Two or three thousand years ago, oilseeds such as hemp seeds and soybeans were eaten directly, so there were "hemp" and "glutinous rice" (soybeans) in the "five grains" at that time. It was not until after the Song Dynasty that oil became a common food raw material in China.

　　Although in recent years, scholars have disputed the question of "what is the best ratio of fat to energy in diet", more than one recent study has found that high-fat diet has adverse effects on intestinal flora.

　　Recently, Gut, an authoritative scientific journal, published the new findings of Chinese scientists, which once again proved that eating too much fat increases the harmful flora in the intestine and decreases the beneficial flora.

　　In this randomized controlled human dietary intervention study, the researchers recruited 217 healthy people aged 18-35. They have no chronic diseases and no obesity problems. These volunteers ate three different kinds of meals as required for half a year.

　　Then, the researchers collected their blood and measured the indexes related to inflammatory reaction, such as IL-1β 、IL-6、IL-8、TNF-α Cytokines, such as PGE2, TXB2, leukotrienes, LTB4, etc. Their feces were collected, and 16S rRNA was sequenced to analyze the flora. During the experiment, all the food and most drinks were provided by the researchers.

　　The calorie levels of these three diets are completely consistent, with an average of 2080~2100 kcal, and the dietary fiber intake is also consistent. However, the proportions of the three nutrients are different, and their nutrient energy supply ratios are as follows:

　　Type I: the energy supply ratio of fat is 20%, that of carbohydrate is 66%, and that of protein is 14%.

　　Type II: The energy supply ratio of fat is 30%, that of carbohydrate is 56%, and that of protein is 14%.

　　Type III: Energy supply ratio of fat is 40%, energy supply ratio of carbohydrate is 46%, and energy supply ratio of protein is 14%.

　　Maybe non-professionals can’t understand what this means, so they have to explain it.

　　The so-called nutrient-to-energy ratio is how much of the calories (calories, energy) gained in a day come from fat, carbohydrates and protein.

　　Type I, the so-called fat-to-energy ratio of 20% and carbohydrate ratio of 66%, is a fairly low-fat diet similar to that eaten in poor times before the reform and opening up.

　　Food energy mainly comes from grain, and a large proportion of cooking is cooked in cold salad. Basically, there is no oil flower and little meat in the serving.

　　There are few kinds of nuts, peanuts and melon seeds, such as boiled fish, fried meatballs, hand-torn bread, egg tarts, fried dough sticks, crispy rice, potato chips and so on … … Just don’t even think about it

　　Type II, the ratio of fat to energy is 30%, and the ratio of carbohydrate is 56%, which is recommended by the Nutrition Society of China, and it is slightly lighter and less oily than the current diet of most residents in China. There are nuts, but the quantity should be controlled; There is fish, but you can’t always fry it in oil.

　　Type III, the ratio of fat to energy is 40%, and the ratio of carbohydrate is 46%, which is the daily life of many wealthy families in China.

　　The fat energy supply ratio of fried instant noodles is about 40%~45%. Cooking with more oil, often eating out, often eating fried dishes, often eating fried cakes and fried dough sticks, and often eating cake biscuits will all increase the fat energy supply ratio.

　　The latest experiment proves that high-fat diet can promote inflammatory reaction.

　　Okay, let’s get down to business. Eating these three kinds of meals is naturally a world of difference in taste enjoyment. So, what is the change of the body?

　　The researchers found that after six months, there were no significant changes in the weight, waist circumference, blood sugar and blood lipid of the three groups. However, the intestinal flora has changed significantly.

　　First of all, the low-fat diet group with 20% fat has the most diverse fecal flora. High-fat diet reduces the diversity of flora.

　　Secondly, the quantitative proportion of flora has changed. High-fat diet increased the number of Alistipes and Bacteroides, and decreased the number of fecal bacteria. Low-fat diet increased bacteria of Blautia and fecal Bacillus. The simple explanation is that the bacteria increased by high-fat diet are mostly varieties that are easy to increase in patients with metabolic diseases such as diabetes; Most of the fungi it reduces are those that are easily lacking in diabetic patients, which produce beneficial components such as butyric acid and reduce intestinal inflammatory response.

　　The third finding is that the short-chain fatty acids in the feces of subjects in the 40% fat diet group are significantly lower than those in the other two groups. This is not good news, because butyric acid produced by large intestine fermentation is beneficial to control blood lipids, and recent research has just found that it is beneficial to reduce the risk of diabetes.

　　The fourth finding is that in the low-fat diet group, the contents of cresol and indole in feces are relatively low, and these components are less, indicating that it is far from various chronic diseases. Conversely, there are more arachidonic acid and lipopolysaccharide in the feces of high-fat diet groups, and more of these components represent higher risk of inflammatory reaction.

　　The analysis of blood samples shows that many proinflammatory factors in plasma of high-fat diet group are relatively high. In the 40% fat group, the content of TXB2 was significantly higher than that in the 20% low-fat group, and the content of C-reactive protein was significantly higher than that in the middle-fat diet group with 30% fat. Conversely, in the low-fat diet group with 20% fat, the contents of LTB4 and PGE2 were lower than those in the other two groups. In a word, a high-fat diet will obviously promote the inflammatory reaction.

　　This means that those who are prone to acne and inflammation should avoid eating high-fat meals.

　　Too much fat can lead to obesity and various chronic diseases.

　　In fact, the results of this study are not too surprising.

　　In fact, as long as Chinese people recall the past a little, they have to admit that in the past, when food was the mainstay and they could not eat much oil, people were very thin, and chronic diseases such as diabetes, fatty liver and coronary heart disease were rare, and intestinal cancer was also rare. With the development of economy, the only thing that keeps pace with the income level is fat. At the same time, obesity and various chronic diseases have increased. In addition to the decrease of infectious diseases and infectious diseases (which are related to malnutrition and poor sanitation), diseases related to chronic inflammation have also increased.

　　In this study, although the ratio of fat to total calories is different among the three groups, the total calories and total dietary fiber intake are strictly consistent. In real life, eating more high-fat foods will inevitably bring more calories and less dietary fiber, which is even more unfavorable for preventing fertilizer, disease and intestinal cancer.

　　In short, rational friends, don’t be fooled by stars, anchors and people who sell all kinds of oil. The recommendations of dietary guidelines for China residents are still very reliable. Cooking oil can be used, but it must be limited. Cooking can’t be "oily" and fried food can’t be eaten freely. Steak, fat sheep slices, pork belly and other high-fat meats are not inedible, but they can only be eaten occasionally, and they can’t be enjoyed every day.

　　Text/Fan Zhihong (Director of China Nutrition Society)

　　CCTV News:Some commemorative coins in the market, known as "the producer of the People’s Bank of China", are suspected of false advertisements. Recently, the People’s Bank of China issued an early warning of false information about coins to remind the public. According to the reporter’s investigation, there are still some enterprises and individuals selling "Gui Li Commemorative Coins" named by the central bank.

　　The central bank issued an early warning message: these commemorative coins are fake!

　　On January 4th, the Business Management Department of the People’s Bank of China (Beijing) issued a false information warning for coins, saying:

　　Recently received feedback from the masses, some websites and mobile phone clients posted advertisements, claiming that "the central bank started" and "the People’s Bank of China supervised the production", involving commodities including:Founding ceremony Commemorative Coin, Great Power Rise Commemorative Coin, Glory Chinese Gold and Silver Coin. These are all false advertisements. The People’s Bank of China has never issued or supervised the above commodities.

　　To this end, some people have been deceived and suffered economic losses. The business management department of the People’s Bank of China has handed over the relevant clues to the market supervision and management department for handling.

　　Survey: Counterfeit coins are still sold online.

　　The reporter’s investigation found that there are still some enterprises and individuals selling counterfeit commemorative coins named by the central bank. These sellers claim that the commemorative coins are issued or authorized by the People’s Bank of China, and the circulation is limited. Each person is limited to two sets, and the price of commemorative coins is generally lower than the face value or issue price.

　　Among many "counterfeit commemorative coins", glory Chinese gold and silver coins are one of them. The reporter noted that on November 15th, 2018, the People’s Bank of China issued the Announcement of Commemorative Coin Issuance to Celebrate the 40th Anniversary of Reform and Opening-up. The contents of the announcement include the patterns, specifications, circulation, coinage units, sales channels, distribution methods and anti-counterfeiting features of gold and silver commemorative coins. In contrast, the announcement of the issuance of gold and silver investment coins commemorating the 40th anniversary of reform and opening-up in Glory China is too simple, which only contains the introduction, exchange price and circulation of commemorative coins.

　　According to the seller’s claim, each set of gold and silver investment coins commemorating the 40th anniversary of China’s reform and opening-up, with the original price of 800 yuan and the current price of 600 yuan, includes six 100 yuan coins with a diameter of 40mm and one 200 yuan coin with a diameter of 70mm. "Issued by the relevant authoritative units authorized by the People’s Bank of China, produced under the supervision of China Coin Museum, and cast by Shanghai Mint", each collection is equipped with precious metal detection certificate, production certificate, collection certificate, anti-counterfeiting certificate and collection ticket, and 2018 sets are issued nationwide, and each person is limited to 2 sets.

　　The seller said that this set of investment coins has the collection value and appreciation space, and only sold 600 yuan during the activity, which has more appreciation space. "If you order, please do it as soon as possible, because the sales of this set of things are hot, and there is not much feedback from the warehouse just now, and it may be out of stock tomorrow and the day after tomorrow." At the same time, the seller also said that this set of coins can not be exchanged for money in the bank, but can be transferred to other Tibetan friends.

　　There is another fake commemorative coin named "1 kg commemorative silver coin of founding ceremony" on the Internet. The customer service claims that this commemorative coin is pure silver, "issued and minted by the People’s Bank of China in conjunction with Shanghai Mint Co., Ltd.", which has collection value and appreciation space. It can be collected by itself or sold to others. "Everyone can only collect two sets, but not every consumer who places an order can buy them. They need to be screened by the system before they can be delivered. After about 3 days, they can receive commemorative coins and pay on delivery."

　　Expert: Suspected of false advertising and fraud

　　As for the appearance of "Gui Li Commemorative Coin", senior professionals in coin collection introduced that commemorative coins are divided into ordinary commemorative coins and precious metal commemorative coins. At present, all ordinary commemorative coins issued in China have a face value of 10 yuan or less, also known as circulating commemorative coins, which are equivalent to RMB and have little premium space, so most counterfeit commemorative coins are often precious metal commemorative coins. The face value of precious metal commemorative coins is only symbolic and cannot be used in circulation, so it has certain collection value.

　　Then, is it fraud or counterfeiting that the seller releases information to induce consumers to buy currency that is not issued or supervised by the People’s Bank of China? What legal responsibilities will you bear?

　　According to legal professionals, the People’s Bank of China is the only issuer of precious metal commemorative coins, and the central bank issues the issuance plan every year. The seller’s publication of such "commemorative coins" through the Internet is a fictional fact, concealing the truth, defrauding consumers and being suspected of publishing false advertisements. If the seller sells these "commemorative coins" to consumers and defrauds consumers of money, it may be suspected of fraud.

　　Reminder: beware of "cash on delivery" goods

　　The business management department of the People’s Bank of China reminds the masses, especially the elderly consumers, to be cautious in participating in coin collection, to raise their awareness of self-protection and not to believe in relevant advertisements. Be especially wary of goods sold by "cash on delivery". Please report to the market supervision and management department in time if you find similar false advertisements.

　　Watch more news

　　NEWS MORE

　　In 2019, there are 13 items and 66 varieties of precious metal commemorative coins.

　　On January 10th, the People’s Bank of China announced the issue plan of precious metal commemorative coins in 2019, including 13 projects and 66 varieties.

　　These 13 projects are:

　　2019 Panda Gold and Silver Commemorative Coin, 40th Anniversary Panda Plus Silver Commemorative Coin, 2019 Lunar New Year Silver Commemorative Coin, 2019 Auspicious Culture Gold and Silver Commemorative Coin, 2019 Beijing, China World Horticultural Exposition Precious Metal Commemorative Coin, China Calligraphy Art (Lishu) Gold and Silver Commemorative Coin, 70th Anniversary of the Establishment of Diplomatic Relations between China and Russia, World Heritage (Pingyao Ancient City) Gold and Silver Commemorative Coin, The 7th military world games Gold and Silver Commemorative Coin, the 70th anniversary of the founding of People’s Republic of China (PRC), the centenary of the founding of Nankai University, the 2019 Beijing International Coin Expo and the 2020 China Gengzi (Rat) Year.

　　CCTV News:The Central Meteorological Observatory continued to issue a typhoon blue warning at 10: 00 on August 6.

　　The center of the No.6 typhoon "KHANUN" (a strong tropical storm) this year is located at 8: 00 am today (6th) on the northwest Pacific Ocean about 430 kilometers west-south of Kagoshima, Kyushu, Japan, that is, 27.8 degrees north latitude and 129.4 degrees east longitude. The maximum wind force near the center is 11 (30m/s), and the lowest pressure at the center is 970 hectopascals, with 7 winds.

　　It is estimated that Kanu will move slowly to the east at a speed of 5-10 kilometers per hour, with little change in intensity. On the 7th, it will gradually turn to the north in the southwest of Japan, and its intensity will be enhanced, and it will be close to the south coast of Kyushu Island, Japan.

　　Gale forecast:From 14: 00 on August 6 to 14: 00 on August 7, there will be strong winds of 6-8 grades and gusts of 9-10 grades in bashi channel, the northern part of the Taiwan Province Strait, the east of Taiwan Province, the eastern and southern parts of the East China Sea and the waters near Diaoyu Island, and the northern and southeastern coasts of Taiwan Province Island. Among them, the winds in the eastern part of the East China Sea can reach 9-10 grades and the gusts are 11-12 grades.

　　Defense guide:

　　1. The government and relevant departments shall, in accordance with their duties, do a good job in typhoon prevention and emergency rescue.

　　2. Water operations and passing ships in relevant waters should return to Hong Kong to take shelter from the wind, strengthen port facilities, and prevent ships from anchoring, grounding and collision.

　　3. Stop large-scale indoor and outdoor gatherings and dangerous outdoor operations such as high altitude.

　　4. Reinforce or dismantle structures that are easy to be blown by the wind. Personnel should not go out at will. They should stay in windproof and safe places as far as possible, so as to ensure that the elderly and children stay in the safest place at home, and the dangerous people will be transferred in time. When the typhoon center passes by, the wind will decrease or stay still for a period of time. Remember that the strong wind will suddenly blow and you should continue to stay in a safe place to avoid the wind.

　　5. Relevant areas should pay attention to prevent flash floods and geological disasters that may be caused by heavy precipitation.

Some drivers’ friends are right

Driver’s license downgrade business

A little knowledge or even a fog.

Today, we will tell you about it.

Those things about the downgrade of driver’s license

▼

What is a driver’s license downgrade?

According to the Road Traffic Safety Law of the People’s Republic of China, drivers should drive motor vehicles according to the quasi-driving type specified in the driver’s license. The higher the quasi-driving model, the more types of vehicles can be driven. If you want to drive more types of motor vehicles, you need to apply for "additional driving"; On the other hand, "demotion" can reduce the range of drivers’ permitted driving models.

The following three situations

Need to reduce the quasi-driving model ("downgrade")

01

Voluntary reduction of quasi-driving types

Before the age of 60, Class AB drivers can voluntarily apply for lowering the quasi-driving type without submitting physical condition certificates.

02

"Over-age demotion"

"Over-age demotion" means that when the driver is over a certain age and does not meet the requirements of holding relevant quasi-driving models stipulated by law, it is necessary to handle the demotion business.

"Over-age degradation" mainly includes the following two categories:

#１

Drivers with Class A and B driver’s licenses are over 60 years old, and their driver’s licenses need to be reduced to C1 or C2 (A2 can be reduced to C1 and C6).

#２

Drivers with D and E driver’s licenses are over 70 years old, and D and E driver’s licenses need to be downgraded to F certificates.

03

The body does not meet the driving conditions and is degraded.

According to the "Regulations on the Application and Use of Motor Vehicle Driving License" (Order No.162nd of the Ministry of Public Security)

Article 67 If a motor vehicle driver’s physical condition changes, and does not meet the requirements for driving license, but meets the requirements for other driving licenses, he shall, within 30 days, apply to dmv, the place where the motor vehicle driver’s license is issued or other than the place where the motor vehicle driver’s license is issued, for reducing the driving license.

The application information shall be confirmed at the time of application, and the identity certificate of the motor vehicle driver and the certificate of physical condition issued by the medical institution shall be submitted.

Before handling the driver’s license downgrade business

Also know the following

▼

● The driver’s license does not have 12 points, fails to be verified within the time limit, is detained, detained, temporarily detained, cancelled, revoked or revoked. If it is merged with the expiration of the replacement certificate, the driver’s license will not have road traffic safety violations or traffic accidents that have not been handled.

● If the driver’s license is valid for more than one year, it shall be merged with the business of restoring driving qualification.

Class AB drivers who need to lower the age of driving permit are approaching.

Remember to handle the driver’s license downgrade business in time ~

Original title: "Attention, attention! If there are such circumstances, please apply for driver’s license downgrade in time.

Read the original text

With the data, we can use statistical analysis methods to analyze it. The methods of statistical analysis of data can be roughly divided into descriptive statistics (Descriptive statistics) and inferential statistics.

　

Descriptive statistics is a statistical method to study data collection, processing, description and visualization. Its contents include how to obtain the data needed for research, how to process and display the data in the form of charts, and how to get the concerned data characteristics by synthesizing, summarizing and analyzing the data.

　

Inference statistics is a statistical method to study how to infer the overall characteristics by using sample data, including parameter estimation (Estimation) and hypothesis test (hypothesis test).

Recently, sogou announced that due to business adjustment, sogou hardware products will officially stop service at 23: 59 on May 30, 2024.This indicates that sogou’s hardware products such as Sugar Cat Watch, Sugar Cat at Home, Sugar Cat Dictionary Pen, sogou Translate Pen and sogou Recording Pen will no longer provide any online services, technical support or maintenance services.In order to ensure the safety of users’ personal information, sogou promised to delete all users’ data safely after the service stopped, and reminded users to back up relevant data in time.

Source: sogou

Since it was incorporated by Tencent, at least ten businesses of sogou have been shut down one after another, including sogou, sogou Reading, sogou Lending, sogou search App, sogou Map, sogou Game Center, sogou Internet Alliance and so on. With the adjustment of various businesses, many former sogou people who merged into Tencent’s non-core business departments mostly left after several rounds of business adjustment.

Hardware exits, and everything has a warning.

Intelligent hardware was once regarded by Wang Xiaochuan, then Sogou CEO, as the second growth curve of sogou except the combination of search+input method+browser. In his plan, the proportion of intelligent hardware in sogou’s overall revenue will reach 10%, but it did not reach this standard until sogou was acquired by Tencent.

Sogou’s last financial report before delisting showed that in the second quarter of 2021, sogou’s total revenue was US$ 147.5 million, of which search and search-related business revenue was US$ 137.2 million, down 43% year-on-year, accounting for 92%; The non-search revenue, including intelligent hardware, was $10.3 million, accounting for less than 10% of the revenue.

Although this part of the decline in revenue is mainly due to the company’s strategy of shrinking non-core business, sogou’s intelligent hardware is not without struggle. In fact, sogou’s intelligent hardware business also had its own highlight moments.

On December 8, 2014, sogou officially launched the company’s first intelligent hardware device-children’s smart watch "Sugar Cat", announcing the exploration of opening intelligent hardware business.At that time, it was the time when the intelligent hardware industry flourished. Sugar Cat, which was established only one year ago, achieved quite good results in the 618 promotion in 2015 and became the double champion of sales and reputation of children’s smart watches.

Source: Baidu Encyclopedia

After that, sogou successively released intelligent hardware products such as dictionary pens, recording pens, translation treasures and translation pens. In 2018, JD.COM, a travel translator named sogou, was first put on the shelves, with sales exceeding 10 million, winning the first place in the same category in JD.COM; In 2020, the sogou recording pen S1, which was priced at over 3,000 yuan, was put on the first show live room in Tik Tok, Luo Yonghao, and gained 48 million cumulative viewers.

The above list is one of the few highlights of sogou’s intelligent hardware business. Since its development in 2014, sogou’s intelligent hardware business has occasionally improved, but the competitors of each subdivision track are too strong. At the children’s smart watch track, there are manufacturers focusing on children’s watches such as Little Genius and Abachi, as well as digital manufacturers such as Huawei and Xiaomi, which have developed from smart watches across the border. In hardware tracks such as translation pens, dictionary pens and recording pens, there are also giants such as Iflytek, Netease Youdao, Alibaba and Baidu competing for competition.

Source: sogou

Taking dictionary pens as an example, as an important part of intelligent education hardware, it is difficult for sogou to cross the two mountains of Iflytek and Netease Youdao. According to the online monitoring data of RUNTO, in 2023, the retail volume of the online open retail market of dictionaries and pens in China (excluding e-commerce companies with content such as vibrato) was 3.626 million, and the sales volume reached 1.78 billion yuan.

Among them, Iflytek’s Alpha Egg and Netease ranked first and second respectively, accounting for 54% of the domestic market, while the TOP10 brands such as Aifen, Little Genius, samtwos and BBK only occupied single-digit market share, and sogou was directly reduced to Others.

Dictionary pens are only the epitome of sogou’s smart hardware business. After careful observation, it is not difficult to find that most of the products launched by sogou after joining the smart hardware track are aimed at specific people and specific businesses.It’s not that there is something wrong with the idea of choosing the track, but that compared with competing products, the products don’t show the advantage of continuously attracting the target group, and multi-line operations all face the same problem, so it’s not surprising that sogou’s hardware business ended up like this.

Sogou is lonely, with little business left.

Looking back on the development of sogou in the past 20 years, it left its own trace in the Internet PC era in China, and it had a history with Internet giants such as Sohu, Alibaba and Tencent.

In 2003, sogou engine was hatched in Sohu, but at this time, Baidu was firmly at the top of domestic search engines, leaving little room for sogou to play. Subsequently, the sogou input method gained a good reputation from users because of its convenient and accurate pinyin input and rich related vocabulary. According to public information, around 2010, the user utilization rate of sogou input method reached 79.7%, far ahead of other input methods, and this advantage was not surpassed by Baidu until 2020.

In this process, Wang Xiaochuan, the former CEO of sogou, put forward a three-stage rocket traffic conduction model of "input method-browser-search", which was once regarded as a classic business model by the search industry. like thatWith the advent of the mobile Internet era, the traffic portal has shifted, and the cross-application jump obstacles have made the information collection and integration ability that search engines are proud of fail. Sogou has also been gradually marginalized in a new wave, and the original search engine and input method have also withdrawn from the core competition circle.

Source: sogou

It can be said that since sogou announced the completion of the merger with Tencent on September 24th, 2021 and became an indirect wholly-owned subsidiary of Tencent, sogou, as the afterglow of the PC Internet era, can already foresee what will happen next. That is to say, the core business is integrated into Tencent, and the marginal business is gradually retired, which is particularly obvious in the peak period of Internet companies’ cost reduction and efficiency increase, and the unprofitable business is ushered in a large-scale contraction.

After sogou shut down the intelligent hardware business across the board, there are not many business lines in sogou that we can see on the bright side. Maybe sogou Input Method will leave quietly one day.By then, we can only find traces of sogou’s existence in Tencent products that have been integrated into sogou business, such as WeChat Watch and Search.

The strong are always strong, and there is no "small but beautiful" in intelligent hardware.

While remembering, we still have to face up to the fact that sogou quit the hardware business, and what the rest of the players in the intelligent hardware track should do to live longer.

In sogou’s intelligent hardware subdivision track, Xiao Lei saw a common trend: the strong will always be strong.A small number of head brands occupy the vast majority of the market share. Only when emerging brands stand out in the brutal market competition can they survive on the track, which is more obvious in the fields of educational hardware such as children’s smart watches, dictionary pens and learning tablets.

　

Source: Counterpoint

However, the closure of sogou’s hardware business is attributed to many reasons. First of all, the smart hardware market is fiercely competitive, and emerging brands and new technologies are constantly emerging, which makes sogou’s smart hardware products face challenges in function and innovation. When innovation can’t keep up with the market demand, consumers will naturally choose products of other brands, which can be intuitively reflected from the sales situation.

Secondly, the functions of smart phones are becoming more and more powerful, and many functions that can only be enjoyed by hardware products are integrated into smart phones, which makes it difficult for a single function of hardware products to meet the market demand. Only when hardware products adapt to market changes and user needs in time and create more professional functions can they attract target groups.

In addition, the maintenance and update of hardware products need continuous investment. Most of sogou’s revenue comes from search business, so it is obviously unrealistic to ask it to invest in intelligent hardware business that doesn’t make much money regardless of the cost. Later, we also saw that sogou made business adjustments based on cost and strategic considerations.

In the intelligent hardware market, small brands often face more severe challenges than big manufacturers. The closure of hardware services in sogou reflects the shortage of small brands in technology, capital and market competitiveness.

In the rapidly developing science and technology industry, continuous technological innovation is the key to the survival and development of enterprises. Large factories usually have strong R&D teams and abundant technology accumulation, which can quickly respond to market changes and launch innovative products. In contrast, small brands have limited investment in technology research and development, and it is difficult to keep up with the technological progress of the industry, resulting in products gradually falling behind in function and performance.

Source: small degree

With the advantages of scale and good profitability, large factories can invest more resources in product development and market expansion. However, small brands often have limited funds and cannot afford high R&D and marketing expenses, which limits their development space to some extent.

However, this does not mean that small brands have no room for survival and development. In Xiaolei’s view, accurate market positioning and technological innovation with memory points are the few opportunities for small brands to find a foothold in the intelligent hardware market.

Specific to products, children’s smart watches do not have high requirements for entertainment functions. It is the real demand of parents for children’s smart watches to create various learning functions, more convenient instant messaging, similar positioning and other security functions around educational scenes. Dictionary pens need to be innovated in translation accuracy and ease of use. Supporting more languages and accurate translation are only entry standards, and what really separates the products is the use experience for different scenes. The recording pen may strengthen the integration with cloud services to provide more efficient recording and information management solutions.

Although many sub-tracks of intelligent hardware products have different development trends, from the general perspective, versatility, intelligence and scene are the directions that every track needs to pay attention to. Netease Youdao, Baidu Xiaodu, Iflytek and other brands have begun the deep integration of AI+ products/applications. The products and applications such as Xiaodu learning machine Z30 and AI general learning assistant "Youdao Xiaop" APP have derived new usage scenarios and capabilities with the help of AI technology, such as AI assistant with smarter interaction, AI learning and other functions.

Just as the mobile phone, computer, TV and other industries have experienced, the intelligent hardware industry will eventually usher in the AI process of each subdivided track. Lei believes that this is also the general trend of intelligent hardware development in the future.

From May 20th to June 30th, 2024, in the year of 618, the Great Promotion struck, and the six major e-commerce platforms, Taobao Tmall, JD.COM, Pinduoduo, Tik Tok, Aauto Quicker and Xiaohongshu, collectively "listened to persuasion", canceled pre-sale and frantically bargained!

Popular AI hard technology categories such as mobile phone digital, AI PC, smart home appliances, TV, small household appliances and air ice washing are gearing up, and the situation is fierce.

Lei Technology 618 Reporting Group will pay attention to the latest situation of e-commerce platform, the latest trends of AI hard technology brands and the new trends of e-commerce industry, so stay tuned and look forward to it together.

　　[Car Information] I believe that friends who pay attention to the car information section of the car family will still remember our earlier car map articles in Beijing, Shanghai and Guangzhou. The main purpose of this series of articles is to make consumers buy their favorite cars more conveniently and quickly, and also to let consumers know more about the distribution of cars. In view of the fact that the previous articles have been well received by the majority of netizens, it is imperative to continue to expand the audience, and now it is time for Shenzhen to launch a car purchase guide. If you want to buy a car in Shenzhen in the near future, I suggest that you might as well read this article first. Maybe our car purchase guide can help you a little.

　　The distribution and sales model of 4S stores in Shenzhen are quite different from those in Beijing and Shanghai, but closer to the "centralized and scattered" distribution model in Guangzhou, mainly in automobile cities, and scattered 4S stores will appear in some areas. The 4S stores in Shenzhen are mainly concentrated in three districts, namely, Luohu and Nanshan. These three districts basically include dealers of mainstream automobile brands at present, and the 4S stores in Longgang and Baoan districts are mostly branches of urban dealers. In order to make it easier for everyone to find dealers nearby, we will organize them according to the division this time.Due to the influence of urban planning, some store information in this article may be subject to demolition, etc. If you find that the information is biased, please let us know, and I will update the article for you as soon as possible.

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　　≥≥≥If you missed the earlier articles on car purchase maps in Beijing, Shanghai and Guangzhou, you might as wellClick on the picture below.Enter the corresponding articles in order to have a deeper understanding of these areas.

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　　At present, there are 6 districts in Shenzhen, namely Futian District, Luohu District, Nanshan District, Baoan District, Longgang District and Yantian District. Since Shenzhen 4S stores are mainly concentrated in the automobile markets in various districts, the following place names include the names of major automobile markets in Shenzhen.

Main distribution areas of 4S stores in Shenzhen
Futian district	Union huapeng automobile market　 Lingsan distribution dealer qiaocheng east pengchengbao automobile city
luohu district	Scattered distributor　 Dong yi Hua Peng automobile trading market　 South China automobile city International luxury car city
Nanshan District	Scattered distribution dealer Jiajinlong Automobile City Xinhao Automobile City Phase I/Phase II
Longgang District	Scattered distributor　 Dongdu automobile city Henggang Xinyi automobile city
Baoan District	Longhua Baomin Shajing scattered dealer
Yantian district	—

　　All the forms show the name of the 4S store, the LOGO of the selling brand, the details of the selling model, the sales switchboard and the specific address of the 4S store. I hope this information can help you buy a car!

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For more exciting content, please click the link below:

Buying a car is also learning!4S storeCompared with buying cars in the secondary market
//www.autohome.com.cn/market/200908/68011.html

Clear up the muddled account/buy a car without spending money.
//www.autohome.com.cn/market/201001/91502.html

New choice of car loan! Analysis of car purchase with credit card loan
//www.autohome.com.cn/market/201002/96372.html

You should know!Used carTransaction process and matters needing attention
http://www.autohome.com.cn/market/200912/83753.html

Cctv newsAccording to "Sanya Released" WeChat WeChat official account News, in order to continuously standardize the operation behavior of the tourism market and purify the environment of the tourism market, on March 24th, Sanya Municipal Market Supervision Administration issued the Work Plan for Launching the Special Remediation Action for Consumer Fraud in the Seafood Market, which will launch the special rectification action for consumer fraud in the seafood market in the whole city. Comprehensively investigate seafood restaurants, tourist shopping spots, wedding photography, fruit shops, tourist accommodation, seafood and fruit wholesale markets, various markets, shopping malls, supermarkets, mobile vendors and other key industries and key areas, as well as emerging tourism formats such as sea-related tourism projects, low-altitude flying and diving, and severely crack down on short weight, use of unqualified measuring instruments, illegal advertisements, price fraud, false propaganda, and other illegal activities such as forcing, inducing consumption, and deceiving customers.

The key points of rectification are as follows:

01 Strengthen the whole chain inspection of seafood and fruits from the wholesale source to the consumption terminal.

Supervise wholesalers to standardize the establishment of a complete account of purchase and sales, and the delivery notes should be marked with the name of the store and stamped with the official seal. The retail terminal business entity shall establish a complete purchase ledger, have a business license and a copy of the business license stamped by the supplier for future reference in the business premises, and have a delivery document stamped by the supplier for each purchase.

Severely crack down on unlicensed operation and illegal advertising.

Check whether the license of the business premises is complete and hung in a conspicuous position, and severely crack down on unlicensed business practices; Check whether the business entities with self-operated websites, WeChat official account or online shops established through third-party platforms display the electronic link logo of business license in their websites or publicize the business license information in a prominent position on the home page, whether there are illegal advertising behaviors such as using terms such as "national level" and "superlative level" in the advertisements of the goods or services they sell, and whether they deceive and mislead consumers with false or misleading contents. Whether there are boxes in tourist shopping spots to engage in business activities, whether there are false propaganda, commercial bribery, forced induced consumption, sales of fake and shoddy products and other acts.

Severely crack down on price fraud and other illegal acts such as unclear price tag and fictitious original price.

Check whether the price is clearly marked, whether seafood and fruit operators use uniform and standardized price labels, whether the wedding photography industry clearly indicates the unit price of individual items in the package (such as shuttle service fee, shooting scene fee, photo frame, photo album, etc.), and whether the 12345 complaint telephone number is publicized on the price tag; Whether the goods or services sold online are consistent with the price of the offline business site, and severely crack down on price fraud and illegal acts such as unclear price tag, fictitious original price, and low elevation knot.

Severely crack down on fraudulent acts such as short weight and short weight caused by using non-compliant scales.

Check whether the scales have passed compulsory verification and have qualified marks, and whether there is any situation of using the scales that have not been verified for an extended period of time or continuing to use the scales that are unqualified in verification and explicitly eliminated by the state. Check whether seafood and fruit operators install and use Internet of Things traceable electronic scales, whether they implement "naked weighing", whether there are cases of weighing without receipt and weight, and whether there are cases of short weight and short weight, and whether there are acts of cheating with scales and cheating consumers in other ways.

05 Strictly investigate the implementation of the main responsibility of market management by market promoters.

According to the Anti-Consumer Fraud Regulations of Hainan Free Trade Port, check whether the market promoters implement the main responsibility of market management, set up qualified fair scales in a prominent position and give consumer tips; Whether to sign an anti-consumer fraud commitment letter with the admission operators, whether to implement the "10-point deduction" management model for the business entities in the market, and whether to implement punishment measures such as suspension of business, rectification and withdrawal from the market for operators with a certain deduction point.

06 Strengthen the inspection of travel-related restaurants.

Strengthen the supervision of the catering service units of the reception team, large-scale catering units, catering units in tourist hotspots, and seafood restaurants operating on third-party platforms such as Meituan and Public Comment. Carry out food and beverage safety inspection, check whether food safety related systems are publicized on the wall, strengthen food safety publicity and education, enhance food safety and prevention awareness, and strengthen emergency handling of food and beverage safety accidents.

07 Strengthen the supervision of other travel-related industries

The first is to strengthen the supervision of the tourism and accommodation industry. Supervise the tourism and accommodation industry to set up price publicity boards, standardize the price tag, whether the advertisements are true or not, whether there are false propaganda behaviors, strengthen the safety supervision of elevators and other special equipment, and eliminate potential safety hazards.

The second is to cooperate with relevant departments to rectify the behavior of soliciting tourists, and severely crack down on illegal and illegal business practices of seafood catering operators.

Third, according to the list of enterprises with the Business License for High-risk Sports Projects approved by the Municipal Tourism Bureau, urge OTA platforms such as Meituan, Qunar. com, Xiaohongshu, Feizhu and Ctrip to publicize the business license information and related administrative licensing information of diving enterprises in a prominent position.

Fourth, actively cooperate with relevant departments to carry out the rectification of diving, low-altitude flight and water tourism projects, and urge operators of low-altitude flight tourism projects to standardize and clearly mark prices.

Fifth, actively cooperate with relevant departments to carry out the supervision of tourist-related religious sites, strengthen the comprehensive rectification of religious information on the Internet based on market supervision responsibilities, and rectify illegal activities such as commercial propaganda, false propaganda and induced consumption in tourist shopping malls in the name of religion.

Author Wu Shixue

Edited by Wu Shixue and Michelle ChenMiao

Opening:

On December 4, 2019, the first "China Kangyang 30 People" Forum was held. Gao Jianguang, director of the Capital Utilization Supervision Department of the Insurance Company of the Ministry of Finance of China Banking and Insurance Regulatory Commission, China, revealed that by the end of September this year, 10 insurance institutions including China Life Insurance, Taikang Life Insurance and Taiping Life Insurance had invested in 47 community projects for the aged, which were distributed in 20 provinces and cities such as Beijing, Shanghai, Hainan, Jiangsu, Guangdong and Anhui, with a total bed size.

At the same time, the total amount of insurance funds invested in private equity investment funds in the upstream and downstream medical and health industries of pension and pension industries has reached 234.782 billion yuan.

According to the Report on the Development Model and Practice of Long-term Care Insurance in China issued by CPIC Allianz, it is estimated that the market size of China’s pension real estate will reach 7.7 trillion yuan in 2020 and 22.3 trillion yuan in 2030.

Three large insurance companies: China Ping An, China Taiping and Taikang Insurance invested more than 41 billion yuan in the field of pension real estate. Insurance companies such as China Life Insurance, China Pacific Insurance, New China Life Insurance, Sunshine Life Insurance, Hezhong Life Insurance, Qianhai Life Insurance, Evergrande Life Insurance, Junkang Life Insurance and Renhe Life Insurance have also announced or substantially intervened in the investment in the old-age community, and the total investment and planned investment has exceeded 100 billion yuan.

It can be seen that since 2006, insurance companies represented by Hezhong and Taikang entered the pension industry, the natural complementary gene of insurance+pension has been fully verified, and the insurance department has become one of the important forces participating in the investment+operation of the pension industry, and more innovative models will be born in the future.

This time, AgeLifePro will systematically review the motivation, participation mode, development process and future trend of insurance companies participating in the pension industry, hoping to bring some valuable reference to the pension industry.

catalogue

First, why do insurance companies have laid out old-age care?

Two, six innovative models of insurance companies participating in the pension industry

Third, the development process of the insurance company’s layout pension

Fourth, the echelon and location layout of insurance companies to develop old-age care

V. Five Future Trends of Insurance and Pension

VI. Insurance+Pension: Pension Layout of 12 Insurance Companies

Seven, insurance companies to develop pension in a variety of ways.

-The full text is 17,145 words-

part1

Why do insurance companies have laid out their pensions one after another?

one

policy support

The policy has experienced a progressive process from caution, to liberalization, and then to rational regulation. In 2009, the China Insurance Regulatory Commission issued the Measures for Insurance Investment in Real Estate and the Measures for Insurance Investment in Equity, which allowed insurance companies to invest in real estate and corporate equity, thus opening the prelude to policies to encourage insurance companies to enter the pension industry.

On November 19th, 2009, with the support of policies, China Insurance Regulatory Commission issued the Notice on Filing Taikang-Pension Community Equity Investment Plan, and approved Taikang to set up a pension community. In 2010, Taikang House was established, which indicated that the policy of insurance investment for the aged really landed.

Figure: Measures for the Administration of the Use of Insurance Funds

After the insurance companies have invested heavily in assets, the policies have become more rational and perfect. On January 24, 2018, the China Insurance Regulatory Commission issued the Administrative Measures for the Use of Insurance Funds (the "Measures for the Use of New Insurance Funds"). The new measures have two new principles: First, the use of insurance funds must be aimed at serving the insurance industry (that is, the well-known "insurance surname"), and second, the use of insurance funds should adhere to independent operation and not be interfered by shareholders in violation of regulations.

In addition, the new measures for the use of insurance funds and the Outline of the 13th Five-Year Plan for the Development of Insurance Industry in China issued by the China Insurance Regulatory Commission also mentioned that insurance funds should be allowed to invest in asset securitization products, broaden the service fields of insurance funds, and innovate the use methods of insurance funds (encouraging the establishment of professional insurance asset management institutions such as real estate, infrastructure and pension, and allowing professional insurance asset management institutions to set up mezzanine funds, merger and acquisition funds, real estate funds, etc.).

2

Focus on the development of insurance companies themselves

1. Investing in heavy assets for the aged can improve the solvency of insurance companies.

In the early days of insurance companies entering the pension industry, the investment speed of insurance companies is very fast. By investing in the pension community, we can evaluate and increase the value, create income on the books and improve the solvency. However, it is worth mentioning that after 2017, due to the control of the proportion and solvency of large-scale assets by the China Insurance Regulatory Commission, the feast of evaluating and increasing the value of insurance companies’ investment in pension communities will no longer be available, and insurance companies will no longer be able to obtain solvency, but will be discounted accordingly.

2. It is conducive to alleviating the pressure of "mismatch between long and short" of insurance funds.

There are abundant insurance funds and a large number of investable assets, but at present, the funds mainly enter short-term investment channels such as bank deposits and government bonds, and the investment channels are relatively single, resulting in a mismatch in the maturity of assets and liabilities. As a comprehensive service industry, providing for the aged needs a certain amount of time to settle the service. Considering the long construction period of the old-age community and apartments for the elderly, it also needs a long-term and stable source of funds. Matching the two can alleviate the pressure of "mismatch between long and short" of insurance funds.

3. Promote policy sales.

Figure: Policy sales of listed companies docking with pension communities

The expiration and renewal of commercial insurance has always affected the stable operation of insurance companies. Insurance companies link insurance products with pension services and pension real estate membership, which can increase the attractiveness of insurance products, form differentiated competition, provide customers with more choices, improve customer stickiness and promote policy sales.

According to the survey of 21st century business herald, in 2019, CPIC issued 7,906 qualification letters for the elderly community; The occupancy qualification of Taiping Pension Community Project drove the initial premium of about HK$ 5.6 billion, and the contribution rate of the initial premium reached 18.8%, which became an important contribution force for Taiping’s life insurance companies to promote the growth of new orders.

4. Extend the industrial chain

The rapid development of the old-age care industry has spawned more and more formats. In addition to large-scale old-age care communities with heavy assets, there are also various lightweight service projects covering all aspects of the lives of the elderly. The distribution of insurance funds for the aged can deepen the existing life insurance customers, create services for the elderly around the whole life cycle, link up with engineering insurance, and link down with medical insurance, nursing insurance, endowment insurance, door-to-door service, etc., and then drive the overall development of the company and provide the comprehensive income of the company.

part2

Six innovative modes of insurance enterprises participating in pension industry

one

Real estate investment model based on old-age community

Since Taikang Home built a large-scale community for the aged (CCRC) on a large scale, this model has also become the "correct" idea for insurance companies to intervene in the elderly. This model is based on real estate, and only with the right to use or property rights of real estate can we get the corresponding pension services.

This investment model attaches great importance to asset layout, which can give full play to the comprehensive advantages of insurance companies and integrate development, investment and operation. At the initial stage of entering the pension industry, it was favored by some head insurance companies.

Under the old-age real estate model, the elderly can live in by paying a deposit and a monthly fee, or they can become members, or they can buy relevant insurance products to lock in the right to live in the old-age community in advance. Union Life’s insurance policy+physical endowment insurance plan, Taikang’s "Happiness with a Contract" insurance product innovatively links virtual insurance products with physical communities.

While Taikang, Taiping and China Life successively built large-scale old-age care communities and sold the right to use them, Ping An Real Estate Co., Ltd. also launched the first old-age care project that can sell property rights in Tongxiang City, Zhejiang Province.

In addition to the typical CCRC product types, everyone insurance cooperates with BTG to build an urban pension complex by means of light asset leasing; New China Life Insurance transformed its office building into an apartment for the elderly and a rehabilitation hospital, which means that insurance companies have begun to cover the "urban institutional pension scene".

2

The service mode of going deep into the scene of community home-based care for the aged.

This model mainly provides old-age services for the elderly at home in the community. Insurance companies take advantage of their abundant policy information to provide corresponding intermediary services and charge relevant intermediary fees. This model has a good development prospect in the future under the overall situation that community homes occupy the mainstream of old-age care in China.

Because insurance companies only appear as service intermediaries or traffic platforms in this mode, the investment is light, and large, medium and small insurance companies can participate.

Photo: Love Life "Love+Home Care Service Plan"

Love Life launched the industry’s first "Love+Home Care Product Plan" and became a leading explorer in the field of home care. This product includes a complete set of home care service system and builds an efficient service platform. Combining medical care with nursing care, through the "1+N" consulting professional service, we can solve the comprehensive needs of medical care, pension, nursing and rehabilitation in one stop.

In the early days of entering the old-age care industry, Taikang also took community home-based care for the elderly as the entry point. In January 2008, Taikang Home Wangjing Senior Club officially opened, but this exploration was unsuccessful, which eventually prompted Taikang to choose the heavy asset CCRC model.

three

Establish a professional endowment insurance institution

Since the establishment of the first pension insurance company in December 2004, there are currently nine professional pension insurance institutions in China, namely, caring for the elderly, China Life Pension, Taiping Pension, Yangtze Pension, Taikang Pension, Ping ‘an Pension, Xinhua Pension, Everyone Pension and Hengan Standard Pension, all of which were initiated by medium and large insurance groups.

The core business of pension insurance companies can be divided into trust-based asset management business and contractual commercial insurance business. Trust-based asset management business mainly includes enterprise annuity, occupational annuity, pension products, old-age security management products and third-party asset management business (issuing insurance asset management products and conducting fund management in special accounts of third-party institutions). Contractual commercial insurance business mainly includes health insurance, accident insurance and pension insurance. The specific business situation varies depending on the business development path of each insurance company.

four

Innovation of financial products for the aged

Figure: China’s three-pillar pension system

This model fits the insurance company’s industry. On the one hand, insurance companies can enrich the supply of commercial endowment insurance products and meet the differentiated endowment insurance needs of customers. Support qualified commercial insurance institutions to actively participate in personal tax deferred commercial pension annuity insurance and innovate housing reverse mortgage pension model. Happiness Life Insurance and People’s Life Insurance both operate reverse mortgage insurance business for personal housing pension.

On the other hand, participate in long-term care insurance. At present, the policy is vigorously encouraging commercial insurance to enter the field of nursing insurance. With the gradual expansion of the pilot scope of the long-term care insurance system, commercial insurance companies can play more roles in the future, and work with the government, individuals and other relevant parties to open up the payment system and promote the development of community embedded institutions. Taikang, China Life Insurance and Qianhai Life Insurance all participated in or calculated to participate in the field of long-term insurance.

five

Construct an ecological circle of insurance+medical care+pension

In this mode, insurance companies often pay attention to medical investment, and give full play to the comprehensive advantages of insurance, medical care and service from both online and online perspectives, so as to build a service ecosystem and realize the closed-loop business of B2B2C, in which pension is an important part.

Figure: Ping An Health Care Service Chain

Ping An has created an "insurance+health care" ecosystem, striving to achieve an online+offline health ecosystem of "upstream health prevention, midstream economic compensation and downstream medical services", and provide customers with life-cycle health management and medical services.

Photo: Pacific Insurance "Insurance+Health+Pension" Ecosphere

Similarly, one of the important directions of CPIC Pension Transformation 2.0 is to build an "insurance+health+pension" ecosystem. Among them, "Pacific Insurance Blueprint" medical service, "Pacific Insurance Wonderful Health" health interaction plan and "CWI Health Examination Center" constitute the "insurance+health" ecosystem; Through its life insurance companies, pension investment companies, Yangtze River pension, and cooperation with Pacific Oubaoting and third-party service providers, it constitutes an "insurance+pension" ecosystem. These two ecological circles can cooperate with the main insurance industry and realize ecological integration.

Sunshine Life Insurance and Qianhai Life Insurance respectively invested in the establishment of Sunshine Fusion Hospital and Guangzhou General Hospital of Qianhai Life Insurance, believing that there will be a further layout in building a healthy ecosystem in the future.

six

Underwriting comprehensive liability insurance for pension institutions

The daily operation of old-age care institutions will face various risks, and building a sound risk prevention and control system has become an important part of the smooth operation of old-age care institutions. Especially for some large-scale old-age care institutions, asking professional insurance companies to design relevant risk protection products can effectively avoid losses and prevent accidents.

According to the Notice of Beijing Civil Affairs Bureau on Relevant Matters Concerning the Implementation of Comprehensive Liability Insurance for Aged Services (J.M.F.F. [2012] No.424), in September 2012, People’s Insurance Company, Ping ‘an Company and China Life Company became comprehensive liability insurance underwriting companies for aged services in Beijing through government bidding.

part3

The development course of insurance enterprises’ layout pension.

one

Review of the course of insurance enterprises building old-age community

2006-2012: Reference and Exploration Stage

Taikang, Hezhong, China Life Insurance and other insurance companies have visited the United States and Japan to inspect the operation experience of mature old-age communities and explore the construction and operation methods of old-age communities. In November 2009, Taikang Life Insurance took the lead in obtaining the permission of the China Insurance Regulatory Commission to obtain the pilot qualification of investing in the old-age community.

2012-2015: Initial stage of construction

The idea of insurance companies investing in the old-age community has become clear, and the old-age communities invested by insurance companies such as Taikang, Xinhua, Hezhong, Ping An and Taiping have been opened one after another.

In June 2012, the foundation stone was laid for "Taikang House-Yanyuan";

In June 2012, the foundation stone was laid for Xinhua Life Insurance "Xinhua Home" in Beijing;

In September 2012, the "Comprehensive Service Community for Health Care and Pension" invested by Ping An Life Insurance Company of China landed in Tongxiang, Zhejiang;

In October 2013, Hezhong Life Insurance established the first insurance pension community in China-"Wuhan Hezhong Younian Life Pension Community";

In October 2014, the foundation stone of "Wutong Family" of Taiping Life Insurance was laid in Shanghai …

2015-present: accelerate the layout stage

Insurance companies have accelerated the layout, more insurance companies have joined, and they have participated in the old-age care in different cities across the country in two ways: heavy assets and light assets.

By 2020, Taikang has laid out key provinces and cities in China, covering 22 cities in the core areas such as Beijing-Tianjin Wing, Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area, Southwest China and Central China, among which 7 communities have opened, forming a chain operation trend in the east, west, north and south of the country;

China Life has the layout of Guoshou Jiayuan Yunjing (Beijing), Yijing (Tianjin), Lejing (Tianjin) and Yajing (Suzhou), and it also has two home-based retirement projects: Guoshou Kang Xin Community Yikang Home and Guoshou Fubao Community Yikang Home.

Taiping Life Insurance’s old-age community, Shanghai Taiping Wutong Family and Taiping Town Haitang Family, has now opened. In addition, Taiping cooperation projects include Shanghai Happy Home, Ningbo Xingjian Lanting, Dalian Yifang Yijinghui, Kunming Ancient Yunnan Famous City, and Beijing Contemporary Time;

The layout of China Pacific Insurance includes Chengdu International Support Community, Hangzhou International Support Community and Dali International Music Support Community. These three projects have all started, but they have not yet opened …

In addition, insurance companies such as Junkang Life Insurance, Tongfang Global Life Insurance, China Insurance, PICC Life Insurance and Guohua Life Insurance also began to provide for the elderly through investment or cooperation during this period.

2

The insurance companies formally laid out the time point for providing for the aged.

Judging from the time when the insurance companies formally laid out the old-age pension, most of the insurance companies that entered the old-age pension in the early days were large-scale insurance companies, and most of them laid out heavy assets. With the development of time, more and more small and medium-sized insurance companies are also involved in the cause of providing for the aged, and the old-age projects under construction have also changed from CCRC to apartments for the elderly to community home services. In addition, the way insurance companies participate in providing for the aged is more flexible and diverse.

part4

The echelon and location layout of insurance companies to develop old-age care

one

Layout of the four major insurance company echelons for the aged

Looking at the layout of these insurance companies, we can find that they have shown four echelons:

The first echelon is Taikang, Taibao and China Life, which have a clear style of play. Investing in the community for the aged with heavy assets has achieved remarkable results, insisting on the initial intention to continue the national layout, and attaching importance to the combination of medical care and rehabilitation nursing resources allocation.

The second echelon is Taiping and Hezhong. From the original intention to build their own old-age communities in many cities, they finally chose to change from heavy to light, and retreat to advance by means of equity cooperation and acquisition of nursing homes, which can not only reduce the "heavy", but also cut into the key areas of the old-age industrial chain and play an important role in the old-age market in the future.

The third echelon, represented by Xinhua and Ping ‘an, has long been laying out the old-age care and has certain strategic plans, but it is in a state of shallow taste and cautious wait-and-see for the development of old-age real estate.

The fourth echelon is represented by less well-known insurance companies such as Happiness Life Insurance, China Insurance, Love Life Insurance, Guohua Life Insurance, etc. Its mode of developing old-age care is extremely light, and it is innovating and exploring in a certain field. At present, it is mostly in the initial stage of old-age care.

2

The layout of insurance enterprises and the national and urban layout of providing for the aged

　

1. National layout

From the nationwide layout, Taikang Life Insurance, China Pacific Insurance, China Life Insurance and Hezhong Life Insurance are all based on the whole country, mainly CCRC.

Among them, Taikang Life Insurance has formed a nationwide chain layout, linking 22 cities, with the earliest and most perfect layout.

At present, the community under China Pacific Insurance is still in the process of preparation, which is firmly carried out in accordance with the layout of "East-West Progress, North-South Echo, National Layout and All-Age Chain", and has formed a trinity product system of "suburban support (middle-aged elderly people aged 70-79), living and enjoying (young elderly people aged 50-69) and urban support (over 80)".

China Life has implemented the "three points and one line, evergreen all the year round" pension industry layout, and some of its pension projects are still slowly advancing.

From the beginning, Union Life planned to deploy in second-tier cities nationwide, and finally contracted its strategy. At present, its main projects are located in Wuhan, Shenyang and Nanning, and some private nursing homes have been acquired in the Yangtze River Delta.

Different from the national layout of the above four insurance companies, Taiping Life Insurance has established itself in the Yangtze River Delta, and gradually cooperated with neighboring projects such as Ningbo and even the whole country, such as Dalian, Kunming and Shenzhen, from Shanghai to the whole country. Shouhou Everyone, New China Life Insurance and Sunshine Insurance occupy the layout of pension projects in Beijing. Qianhai Life Insurance started from Shenzhen, and will have strategies in Xi ‘an, Nanning, Chengdu and Hainan in the future.

Photo: Everyone’s insurance travel series

Considering the development of the residence market, cities such as Sanya, Dalian, Kunming and Hangzhou are also favored by insurance companies. Insurance companies such as Taikang, Taiping and Hezhong, which have laid out national pension projects, can develop their residence business with the help of pension projects laid out in cities across the country. There are also some insurance companies that have plans to lay out their travel business, such as the travel series products that everyone intends to develop.

2. Urban location layout

In terms of urban location layout, from June 2012, when the foundation stone was laid for Yanyuan, the first old-age care community in Taikang, Beijing, insurance institutions started to build large-scale high-quality old-age care communities in the suburbs, entered the urban areas, and successively laid out some high-quality old-age care institutions. At present, insurance companies such as China Life Insurance, China Pacific Insurance, New China Life Insurance, and Everyone Insurance have all set up pension institutions in urban areas, thus forming a "urban+suburban" product line with full coverage.

According to Litwak, an American scholar, proper service provision for the elderly needs to go through three stages: when the health of the elderly is good, it is most beneficial to live in a community with homogeneous age; When the elderly are disabled, it is most beneficial to live in an age-homogeneous community near their children’s residence; When the degree of disability of the elderly develops to the point where they need 24-hour care, living in a nursing home is the most beneficial.

In the early days, Taikang Insurance, China Life Insurance, China Pacific Insurance, New China Life Insurance, Taiping Life Insurance, China Ping An, Hezhong Life Insurance, Junkang Life Insurance and other large and medium-sized insurance institutions laid out large-scale pension communities in the suburbs as standard. Nowadays, more and more insurance institutions have laid out pension communities in urban areas, such as:

The scheme of "one city chain 1+1" designed by Taibao Jiayuan. That is, the younger elderly can live in the Dongtan Retirement Center of Taibao Home in Chongming for a short time; Middle-aged self-care elders can live in Dongtan Retirement Center for a long time; The elderly with disabilities can be referred to Putuo Kangyang Community through the internal passage of Taibao Home to receive professional care services combining medical care and nursing, and to facilitate relatives to visit nearby;

Everyone’s insurance officer announced the layout mode of "providing for the aged in the heart of the city". At present, there are three old-age care communities located in the urban area of Beijing. In the future, we will start with light assets and lay out high-quality old-age care communities in the core area of the city, which are close to medical care, children and fireworks. "Close to the top three hospitals" will be the primary consideration for the location of old-age care communities;

New China Life Insurance transformed the office building of Liuliqiao in Beijing West Third Ring Road into a high-end nursing home with rehabilitation hospital;

China Life piloted the "Yikang Home of China Life Fubao Community" in Shenzhen.

part5

Prospect of the future trend of insurance+pension

one

Stones from Other Mountains —— American Experience

Figure: Classification of old-age communities according to different service types.

According to the experience of the United States, according to the different clients, the community for the aged can be divided into six types: active elderly community (AAC), independent living community (IL), assisted living community (AL), professional nursing community (SNF), memory nursing community (MC) and continuous care community (CCRC). It can be seen that with the gradual decline of the self-care ability of the elderly, the types of services they need are more and more professional, and the requirements for the residential community are getting higher and higher, especially the ability of professional care and medical treatment.

Figure: American pension real estate operation mode

American pension real estate involves investors, developers and operators, who form a complete market-oriented system of financing, construction and operation. Among them, the project manager is separated from the holder. The mainstream investor is Real Estate Trust Fund (REITs), which is responsible for raising funds for the development and operation of the project. Developers are responsible for planning and developing pension real estate projects, and operators operate and manage well-developed projects.

Operators adopt two ways for the project. One is the net lease mode, in which REITs companies rent the property to operators, and the operators charge a fixed rental fee every year, and the operators bear the direct operating expenses, community maintenance fees, taxes, insurance fees, etc. The second is the entrusted management mode, in which REITs entrusts its properties to operators, and the operating costs and income are attributed to REITs.

In addition to REITs model, American pension communities can be divided into two different types according to the developer-led or operator-led: one is the developer-led Sun City model, which is aimed at active health of the elderly aged 55-70 and led by real estate developers, and can recover investment and generate profits through the sale of pension concept houses; The second is the CCRC model led by operators, which takes the form of renting to serve three types of elderly people: self-care, intermediary assistance and intermediary care, and only provides real estate lease rights and service enjoyment rights.

Excerpt from "2020 Senior Housing Outlook Report"

According to the "2020 Senior Housing Outlook Report" published by SHN, in 2020, Private equity, public REITs(Private REITs, Institional institutions, etc. are all buyers of housing for the elderly.

At the same time, the financing sources of American housing for the elderly have expanded, and both Private equity and Bank/Finance company have played a great role in the financing of housing for the elderly.

2

Five Future Trends of Insurance Companies’ Pension Development

Compared with the experience of American pension housing, it is found that the development, investment and operation of China’s pension market are still not very mature. In the past few years, the entry of some large insurance companies and real estate companies has promoted the rapid development of the pension market, but various market participants have not formed a clear division of roles, and many enterprises are integrating investment, development and operation. Until these years, this situation has changed, and there have been more cases of division of labor and cooperation based on their respective professional fields.

Photo: Taiping Life Insurance official website-Taiping Enjoy Home

For example, Taiping Life Insurance has only built Shanghai Wutong Family and the newly opened Sanya Begonia Family. The rest of the projects, such as Shanghai Happy Home, Ningbo Xingjian Lanting, Dalian Yijinghui, Kunming Ancient Yunnan Famous City, Beijing Contemporary Time Li, Suzhou Hecheng and Hangzhou Langhe International Medical Center, are all strategic cooperation projects.

In 2017, Taiping Life joined hands with a third-party organization to launch Taiping Life’s community brand-Taiping Lexiangjia. According to the plan, in the future, at least 16 cities across the country will match the resources of Taiping Lexiang Family Pension Community. Under the unified brand management, all communities in Taiping Lexiangjia carry out standardized management and formulate reasonable and consistent marketing, check-in and check-out procedures. At the same time, the community can also jointly carry out residence business.

In addition, the designated cooperative units of Taiping Life Insurance’s pension service experience include: Yuenianhua Support Center (Shenzhen), Runhua Songhe Support Center (Shenzhen) and Zangmashan Support Community (Qingdao). This mode of cooperation can further make up for the shortcomings of insurance companies in the urban distribution, scale, type and location of pension projects, and provide customers with more choices.

Take China Life as an example. At present, China Life’s community project for the aged is progressing relatively slowly, but it has made some efforts in the field of community home. On December 29th, 2020, the first comprehensive community service center for the aged in Yantian District, which was jointly established by Yantian District Government and China Life Insurance, officially opened. So far, China Life’s community home-based care projects have included: Yikang Home in Fubao Community, Yikang Home in Kang Xin Community, Yuexiang Center in Yantian District, and Youxiangjia Health Care Center in Luohu District under construction.

In addition, Bohai Life Insurance, Tianjin Daji Development Co., Ltd. and Beijing Yangzheng Investment signed a strategic cooperation on the "Home-based Care for the Aged" project in China Jihai Shipping City, Tianjin.

According to the development of the old-age community over the years, zhang yi, vice president of Junkang Life Insurance and general manager of the Health Industry Division, summed up these stages:

Among them, in the "1.0" stage, the property of real estate is stronger, and the procedure is usually in the form of property rights sales of real estate developers and basic old-age services provided by third parties;

The "2.0" stage is a relatively mainstream format with the concept of CCRC in the current market, that is, providing relatively standardized high-quality catering, medical care, care and entertainment services for the elderly in large communities;

In the future "3.0" stage, it will become a trend to realize customization and meet individual needs through science and technology. Specifically, through data mining and intelligent analysis, we can build intelligent systems including smart home, face recognition, mobile housekeeper, vital signs detection, cloud health detection, telemedicine, etc., and provide high-quality and personalized health services and living environment for the elderly through big data analysis.

Figure: Maimai Smart Pension Solution

Therefore, in the future, smart devices and technology will empower the elderly on a larger scale, and insurance companies should also be prepared for this.

On the other hand, insurance companies can also introduce some innovative practices from the main business of insurance, and provide feasible reference ideas for the innovative development of insurance and finance.

Zhu Junsheng, a researcher at the China Insurance and Pension Research Center of Tsinghua University Wudaokou Finance College, said in an interview: "With the increase of the aging population, people’s attention to risks is increasingly shifting from the risk of death to the risk of survival, and more and more attention is paid to old-age care and health … Commercial health insurance and old-age insurance can play a greater role in multi-level medical care and old-age security system."

Figure: Health insurance

As early as 2018, Ping An Insurance launched the first flagship product for the elderly group in its official APP Ping An Health: Ping An I Kangbao Geriatric Care (three-high version), which guarantees "accidental hospitalization+cancer hospitalization" and the insurance age is open to 70 years old, covering the three-high population of "hypertension, hyperlipidemia and hyperglycemia". And such insurance products for the elderly will be more and more.

All the above cases indicate that in the process of developing old-age care, insurance companies have formed five development trends:

1. Pay more and more attention to the direction of light assets, community home and inclusive old-age care, and be more rational and diversified in the layout of old-age care. And more and more emerging insurance companies can also intervene in the cause of providing for the aged in the form of light asset cooperation.

2. Considering the overall situation of home care and community care market, "light assets+heavy services+insurance products" may become a breakthrough point for insurance companies to realize profits in the field of pension real estate. Leaving aside the construction of large-scale old-age communities, insurance companies have a lot of room for innovation in traditional life insurance, long-term care insurance and personal commercial old-age insurance products. If they are matched with community home-based old-age care services, they can further expand the market.

3. With the country giving more support and encouragement policies to the financial innovation of insurance, in the future, insurance participation in pension can amplify the financial attributes of insurance, carry out financial innovation for C-end, and design insurance+pension products with the idea of "combining consumer insurance with savings insurance".

4. Smart devices and technology will empower the elderly on a larger scale. Insurance companies should increase investment in science and technology, break through the "fence" of communities and nursing homes, and provide accurate and thoughtful services for more elderly people with pension needs.

5. Union Life has started to deploy overseas in the industry, and I believe that more insurance companies will participate in it in the future. Foreign pension enterprises are more mature and have a lot of high-quality and cheap assets, which are worth investing by China insurance companies. Moreover, with the hot development of residence, including foreign travel routes will be more popular with customers.

part6

Insurance+Pension: Pension Layout of 12 Insurance Companies

After combing the history of insurance companies’ pension development, AgeLifePro also counted 12 insurance companies with pension projects, and their corresponding pension brands and strategic plans:

one

Taikang Life Insurance Co.,Ltd.

Pension business product line

1. The product plan of the happiness contract endowment insurance;

2. Taikang House (CCRC).

Asset type

1. Emphasis on asset layout, self-built and self-operated, with a total investment of more than 20 billion yuan;

2. It has the first-Mover advantage, the firmest strategy, the closest pace, the largest investment and the largest number of policies sold.

profit model

Insurance+asset management+operation.

Pension project

Figure: Taikang’s national layout

List of Taikang Community (with ★ indicating that the community has opened)

Charging mode

1. Happiness has an old-age insurance plan, and you can stay in the old-age community after paying a premium of 2 million yuan;

2. Insurance (premium over 2 million)+deposit (200,000 entry fee +120/180/360 Le Tai card)+monthly fee mode.

medical service

1. Self-built hospitals: equipped with secondary rehabilitation hospitals, of which the rehabilitation hospitals in Yanyuan, Shenyuan, chu garden, Yueyuan, Shuyuan and Wuyuan have been put into operation, and the hospitals in Beijing, Shanghai, Guangzhou and Chengdu have been included in the designated medical institutions for medical insurance, and they can enjoy medical insurance reimbursement for medical treatment;

2. Medical resources: build an international standard tertiary general hospital, Taikang (Nanjing) Xianlin Gulou Hospital, Taikang Tongji (Wuhan) Hospital, Taikang Southwest Medical Center (to be established), Taikang Shenzhen Qianhai International Hospital (to be established), Taikang Ningbo Hospital (to be established) and Taikang Baibo Dental;

3. Cooperate with many well-known domestic 3A hospitals to realize two-way referral, green channel, telemedicine and expert consultation services.

2

China Life Insurance

Pension business product line

1. Community for the Aged (CCRC);

2. Community home-based care for the aged;

3. Living.

Asset type

By the end of 2017, the investment scale in the health and old-age care industry was nearly 25 billion yuan, with emphasis on asset layout and self-construction, which was steady and steady.

profit model

Great asset management, great health and great old-age care.

Pension project

Photo: Guoshou Jiayuan

List of China Life Pension Projects (with ★ indicating that the community has opened)

Charging mode

1. The mode of "deposit (100,000 yuan)+Jiayuan card (90/150/1.8 million yuan)+monthly fee" is adopted for the pricing of self-care area;

2. The nursing area adopts the model of "deposit+monthly fee".

medical service

In addition to providing medical resources in the community and providing 24-hour medical security, it also cooperates with nearby 3A hospitals to open green channels.

three

Taiping life insurance

Pension business product line

1. Taiping Life Insurance Personal Tax Extension Pension Insurance (2018);

2. Community for the Aged (CCRC).

Asset type

1. Shanghai Wutong family invested nearly 4 billion yuan, self-built and self-operated;

2. We are accelerating cooperation with other pension institutions and integrating resources extensively.

profit model

Create a closed-loop service in the whole life cycle from health management and pension industry, and form an industrial ecological chain of "insurance+health+medical care".

Pension project

Figure: Layout of Taiping Life Insurance Pension Project

Taiping Happy Family Pension Project includes: Shanghai Wutong Family, Shanghai Happy Home, Ningbo Xingjian Lanting, Dalian Yijinghui, Kunming Ancient Yunnan Famous City, Beijing Contemporary Time Li, Suzhou Hecheng, Sanya Haitang Family and Hangzhou Langhe International Medical Center, all of which have been opened.

Most of these pension projects are cooperative projects. Only the Shanghai Wutong Family Project is self-built and self-operated. The project covers a total area of 280 mu, with more than 1,500 healthy and energetic apartments for the elderly and nearly 900 beds for rehabilitation and nursing, which can serve about 3,500 elderly people by then.

The designated cooperative units of Taiping Life Insurance’s pension service experience include: Yuenianhua Support Center (Shenzhen), Runhua Songhe Support Center (Shenzhen) and Zangmashan Support Community (Qingdao).

The Wenjiang project in Chengdu is about to land, and projects in Zhuhai and Nanning are also being actively promoted.

Charging mode

1. Purchase insurance products linked to the Wutong family community, and you will be eligible for occupancy if the premium is more than 2 million yuan; Directly purchase the community membership of Wutong family, and pay monthly after check-in;

2. Deposit+monthly fee.

Number of existing beds

Shanghai Wutong family has 288 beds.

medical service

1. Shanghai Taiping Rehabilitation Hospital has been completed;

2. The Wutong family is close to Zhangjiang Science City, which is a new comprehensive medical park integrating "medicine, teaching, research and production" and is rich in surrounding medical resources;

3. Cooperate with hospitals around the community to get through the green channel.

four

China Pacific insurance

Photo: layout of old-age care in Taibao home

Pension business product line

The trinity product system of "supporting the elderly in suburban areas (middle-aged people aged 70-79), living and enjoying (young people aged 50-69) and urban health care (over 80 years old)".

Asset type

1. Pay attention to the investment in assets, give full play to the advantages of backwardness, have a clear strategy and a clear style of play;

In 2.3-5 years, the initial investment will be 10 billion yuan, and 8,000-10,000 sets of high-end pension apartments will be expanded, with 10,000-12,000 beds.

profit model

Comprehensive solution of "insurance products+community for the aged+professional services".

Pension project

medical service

Docking local medical resources and cooperating with surrounding hospitals.

five

Everyone insurance

Pension business product line

1. Community for the Aged (CCRC);

2. Community embedded nursing station.

Asset type

Give priority to light assets.

profit model

1. Create the mode of "providing for the aged in the city" and explore the mode of "nursing station" embedded in the community;

2. Relying on the unique overseas pension license of Everyone Insurance Group, we will lay out our capabilities around four aspects: "operation, nursing, medical care and informatization" and integrate and export pension operation services and brands.

Pension project

Figure: The first thick pension project for everyone

1. The building area of Shouhou Dajia Chaoyang Community is 40,000m, with 230 beds;

2. Shouhou Friendship Community has 545 beds;

3. Fuwai Community for the Aged and the first embedded nursing station in the community are under construction, which can provide more than 1,500 beds.

Charging mode

1. The membership mode is between 1.9 million and 2.6 million;

2. The monthly fee is 15,000-22,000 yuan/month.

medical service

Create a graded diagnosis and treatment service system, including four-tier service settings: medical institutions in the community, remote consultation of Internet hospital experts and remote distribution of drugs, nearest service of 3A hospitals, high-end physical examination and overseas diagnosis and treatment.

six

Union life insurance

Pension business product line

1. Community for the Aged (CCRC, AAC);

2. Physical old-age security plan-buy union insurance and live in an old-age community;

3. Living and supporting the elderly.

　

Asset type

1. Build a community for the aged with heavy assets and invest 26.8 billion yuan to build projects in Wuhan, Hefei and Shenyang;

2. Investing in light assets to acquire pension communities at home and abroad.

profit model

Invest, run the community, and cooperate with the third party to carry out living and providing for the aged.

Pension project

Figure: Hezhong Pension Health Industry Layout (taken in 2015)

1. Hezhong Younian Life Wuhan Community is the first pension community invested and operated by an insurance company in China, with a construction area of 1.6 million m, 600 CCRC beds and about 1,000 AAC (Active Elderly Community) units, which can accommodate 3,000 people;

2. Hezhong Younian life Nanning community can accommodate 2000 people;

3. Hezhong Younian Life Shenyang Community can accommodate 559 people;

4. Invest and acquire 56 pension communities at home and abroad.

Charging mode

1. Policy+physical endowment insurance plan, you can stay in the old-age community by paying 500,000-750,000 yuan;

2. Deposit+monthly fee mode;

3. You can enjoy the service of living and providing for the aged by purchasing the old card for excellent years.

medical service

Construction of medical rehabilitation centers, medical and health service centers, and docking with local medical resources.

seven

Qianhai life insurance

Pension business product line

1. Establish a happy home for the elderly;

2. Combination of medical care and nursing: set up a medical and health management center, link high-quality domestic medical and nursing resources, operate a medical and nursing combination project, and form a national medical and nursing network;

3. Carry out old-age care services for migratory birds.

Asset type

The hospitals and nursing homes under Qianhai Life Insurance are self-built and self-operated, creating a precedent for the insurance industry.

profit model

Establish a service system of "insurance+pension+medical care" to link medical care services with insurance business.

Pension project

Photo: Qianhai Life Insurance Shenzhen Happy Home

1. Shenzhen Happy Home Nursing Home is a pension project fully invested and operated by Qianhai Life Insurance Co., Ltd., covering an area of 10,860m2, with a total construction area of 33,400m2 and more than 500 planned nursing beds;

2. Plan to invest in the construction of many hospitals, outpatient departments and comprehensive pension apartments in Guangzhou, Nanning, Xi ‘an and Shaoguan.

Charging mode

1. Buy insurance to stay in the community;

2. Deposit+monthly fee mode.

medical service

1. There is a health management center in the nursing home of Happy Home, equipped with a professional health management team;

2. Established the Guangzhou General Physician of Qianhai Life Insurance, and will also build a medical cooperation station with Baoan District People’s Hospital to jointly build a comprehensive diagnosis demonstration model for senile diseases and build a family bed demonstration base;

3. Cooperate with Shenzhen Hospital of Southern Medical University and other hospitals to open a green medical channel.

eight

Junkang China life

Pension business product line

Four product lines with Kangyang Community, Kangyang Hotel, Kangyang Center and Health Resort as the core have been constructed.

Asset type

Combining light and heavy, it is estimated that the total investment will be more than 7 billion, and the company will hold and operate for a long time after the community is completed.

　

profit model

Integrating insurance products, community pension, medical care and health management services, the insurance products focusing on old-age care supporting Junkang Nianhua Kangyang Community are composed of Junkang Happiness Annuity Insurance (dividend-sharing type) and Junkang Premium Account Annuity Insurance (universal type).

Pension project

Photo: Junkang Nianhua Pension Community

There are Junkang Beijing Nianhua shunyi new town Kangyang Community and Junkang Nianhua Shanghai Minhang Pujin Kangyang Community. More than 2,500 living units are planned and constructed, which will be held and operated by the company for a long time after completion.

Charging mode

Customers who purchase the "Junkang Happiness Lifelong Pension Plan" with a premium of 2 million will enjoy the guaranteed right to stay in Junkang Nianhua Kangyang Community and enjoy the preferential price policy for staying in the community in the future.

medical service

Cooperate with neighboring hospitals.

nine

Sunshine insurance

Pension business product line

1. Take home care and pension operation services as the main body, and build a "four-in-one" pension model of "home, community, institution" and Internet;

2. Establish Sunshine Yikang Pension Service Co., Ltd. and Beijing Yihe Tianxiang Pension Service Co., Ltd..

Asset type

Light assets.

Pension project

Photo: Sunshine Family Guangzhou Kangyang Community, which was put into operation on December 24, 2020.

1. Sunshine Yikang Pension Service Co., Ltd. has jurisdiction over Yikang Home Tiantongyuan Store, Sunshine Jishan Maintenance Center and Xinhu Sunshine Retirement Center (public and private);

2. Beijing Yihe Tianxiang Pension Service Co., Ltd. has established three parent care institutions in Beijing, Dashilan Pension Care Center, Sunshine Li Elderly Care Home and Sunshine Family (Guangzhou).

Charging mode

Deposit+monthly fee mode.

medical service

Medical care stations are set up in the hospital of the institution to connect with local medical resources.

10

Xinhua insurance

Pension business product line

After four years, three typical projects have formed a multi-product pension industry layout that combines suburbs and echoes the north and south, covering three product lines: rehabilitation care, continuous care and old-age health care.

Asset type

Heavy asset investment.

Pension project

Photo: Xinhua Home Community

1. Beijing Lianhuachi nursing apartment with 206 rooms and 360 beds;

2. Hainan Boao Leisure and Holiday Pension Community, with about 1,000 rooms in the first phase;

3. An active community for the aged (to be established) in Yanqing District of Beijing, with 1,800 rooms and 3,200 beds planned.

Charging mode

Charge mode of bed fee+nursing service fee.

medical service

1. Establish Xinhua Zhuoyue Health Investment Management Co., Ltd.;

2. Self-built rehabilitation hospitals and institutions have medical offices;

3. Cooperate with neighboring hospitals to open up green channels.

11

Picc life insurance

Pension business product line

CCRC。

Pension project

Photo: People’s Health Care Dalian Yiyuan Pension Community

The first community for the aged-People’s Insurance and Health Care Dalian Yiyuan Community for the Aged and Health Care can provide about 1,100 old-age care/health care units, and 323 old-age care units in the first old-age care area have been officially put into operation.

Charging mode

"Insurance policy+check-in confirmation letter" mode, with priority for paying 450,000 yuan.

medical service

Actively explore the business model of "combining medical care with community+online doctor signing+hospital strategic cooperation", and provide the "combining medical care with nursing care" health care service for the elderly with disease treatment, disease-free prevention and rehabilitation after illness.

twelve

Tongfang Global Life

Photo: Tongfang Global Life joined hands with Tsinghua University Institute of Economics and Management.

Release the survey report of China residents’ retirement preparation index.

Pension business product line

1. Pension apartments, CCRC, and cooperative construction of nursing homes;

2. Cooperate with Tiandi Health City to launch a "self-satisfaction club" medical care solution and create a "pension+medical care+insurance" model.

Asset type

We will introduce a new model of providing for the elderly that integrates "medical care, support and insurance" and "light assets".

Pension project

1. Tongfang Global Life Retirement Paradise project based on pension apartment solution has been completed in Qingdao;

2. Tongfang Global Life Pension Community (CCRC) project will be listed in the near future;

3. Join hands with Hunhe Ruiyi ‘an Nursing Home in Xiangyang, Hubei Province, benchmark the international level, and lock the target customers into those who need immediate care, so as to prepare for the introduction of disability insurance and long-term care insurance;

4. Cooperate with Tiandi Health City (CCRC) to launch the "Self-satisfied Club" medical care solution.

Charging mode

The "Self-satisfied Club" medical care service solution is in cooperation with Shanghai Tiandi Health City, which is of the same origin. Customers can enjoy the exclusive right to use the old-age service apartment after purchasing the designated products of Tongfang Global Life and paying the membership fee.

medical service

Carry out strategic cooperation with Nanjing Tongren Hospital and strengthen the in-depth cooperation between commercial insurance and medical institutions.

part7

Various ways for insurance companies to develop old-age care

1, with the help of the group’s internal resources to build a community for the aged.

This model appeared in the early stage of the exploration of pension real estate. Some large-scale insurance parent groups have diversified business formats, and there are professional real estate companies under them. They often use the internal resources of the group to set up projects for elderly housing, and the successful projects can be sold to the market. In fact, the selling community model is no different from real estate development, which can quickly recover funds and obtain development profits, thus realizing rolling development. However, under this model, it is difficult to guarantee the community’s old-age service.

The "Comprehensive Service Community for Health Care and Pension" built by Ping An Insurance in the early days was developed and constructed in conjunction with China Ping An Real Estate Group, which integrated three product lines: pension apartment, family community and holiday leisure, with a total construction area of 1.5 million square meters.

The project adopts the mode of "both renting and selling", that is, like commercial real estate, property rights can be bought and sold. Member products are operated by Ping An Real Estate, which only rents and does not sell. At that time, this model was the only pension real estate developed in the form of "selling+holding operation" in the financial department.

Figure: Health Valley Member Service System

Evergrande Real Estate, the parent group of Evergrande Life Insurance, has built the Evergrande Health Valley, creating four parks, namely, Yiyang, Changle, Kangyi and Parent-child, providing 852 types of facilities and 867 comprehensive health management services, covering the whole life cycle from pre-pregnancy, infants to centenarians.

At present, the completed Evergrande Health Valley has been sold to the market. It is understood that Evergrande Health Valley will provide health care and old-age care services to customers through the membership mechanism of "rent, purchase and travel". Customers can become members by renting, buying products in Health Valley or traveling and living in Health Valley, and get membership rights such as health insurance, high-end medical care, health management and health care services.　

Evergrande Life put forward the strategic model of "insurance guarantee+ecological pension+combination of medical care and nursing care", and issued the permanent endowment insurance, which creatively combined insurance products with the old-age community to provide customers with a package of pension plans linking financial planning and pension entity services.

Photo: Everbright Peace of Mind Pension Plan

Everbright Life Insurance launched the "Everbright Peace of Mind Pension Plan", which connects insurance products with Everbright Huichen Pension Service Community to provide customers with a package of pension solutions of "insurance+pension community" and realize the combination of financial products and physical pension. "Everbright Peace of Mind Pension Plan" is divided into two sub-plans:

Plan A serves mid-to-high-end customers through "insurance+long-term care for the aged+preferential service for the aged living in residence", and locks in the occupancy right of Everbright Community in advance for customers. The occupancy right is further divided into "guaranteed occupancy right, priority occupancy right, preferential price right, experience occupancy right", etc., to provide customers with more and clearer protection, with up to six rights holders, including not only customers and their spouses, but also parents of both parties. In addition, the right holder can also enjoy the service of living and providing for the aged at preferential prices all over the country from the date of insurance;

The content of plan B is "insurance+preferential right of living service", with low payment threshold and wider coverage. Six rights holders can enjoy the same level of living service in plan A in advance without staying in the old-age community.

In 2019, Xingbao launched "Star Pension"-a comprehensive solution of pension insurance and pension community. Relying on Fosun Real Estate’s Healthy Honeycomb Platform, the two parties jointly create an exclusive pension community scheme for Fosun Prudential Life Insurance customers-customers can reserve pension annuity by purchasing corresponding insurance products of Fosun Prudential, and Fosun Real Estate promises the rights and interests of customers to stay in the "Fosun Pension Community" in the future. It is reported that if the total premium is more than 2 million, the insured can get the qualification to live in an old-age community.

China Merchants Guanyi Home launched the "Renhe Yijia Comprehensive Pension Plan", with the development strategy of "the same platform, giving equal attention to both light and heavy, and combining medical care with nursing care". China Merchants Renhe Life Insurance focuses on the whole industrial chain of pension insurance products, pension community development and pension community operation services.

Specifically, the pension community in Guangzhou Golden Valley (Renhe Yijia Heyuan) is only open to customers who buy insurance. Only by purchasing more than ten designated insurance products, including "China Merchants Renhe Zhaoying Jinsheng Annuity Insurance" and "China Merchants Renhe Heyue Life whole life insurance", and the accumulated premium payable reaches more than 2 million, can they be eligible to apply for the pension community.

2. Innovative gameplay of insurance+pension

Figure: UC club membership rights

China Insurance launched the UC Club of New Life, and launched membership service for the junior and old people. Members who join the club can enjoy services such as learning, medical care, traveling, doing something and having fun. It is also known that United Life also has plans to form a new senior club.

Guohua Life Insurance has established three companies on medical health and old-age care: Hainan Guohua Kangyang Co., Ltd., Gongqingcheng Zhongke Xukang Medical Industry Investment Partnership, and Guohua Residence Kangyang Co., Ltd. At present, the company’s work in medical care, old-age care and other aspects is in the preparatory stage, and there is no more definite information to disclose.

Love Life put forward the four-in-one ecological strategy of "medical care and insurance" for the aged. In 2020, China International Fair for Trade in Services released the first "insurance+service" home-based care product in the industry-"Love+Home-based Care Product Plan", which provides home-based care solutions for the elderly with the combination of "annuity protection+medical care service".

In addition, Love Life is also a pilot agency for long-term care insurance in Beijing, and has set up a special team with rich experience in care management services, and has become one of the eight financial institutions selected by China Banking and Insurance Regulatory Commission Financial Support Community Home Care Service Agency Project.

Happy Life, supported by the national policy, launched the reverse mortgage pension insurance product "Happy House Laibao reverse mortgage pension insurance for the elderly (Clause A)", and invested in regional leading pension institutions all over the country through the special equity investment fund for medical pension.

Zhonghong Life Insurance cooperates with Greenland Kangyang to create a cross-border innovative cooperation model of "insurance products+high-end pension community+Kangyang hotel", organically combining insurance financial products with physical pension services to provide customers with more comprehensive pension solutions. This indicates that Zhonghong Insurance has made important progress in building a "health+pension" dual-engine strategic layout.

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Insurance and old-age care both start from the whole life cycle of people, and they are strongly related. Looking at overseas, insurance companies have always been an important pillar of the development of old-age care. The social security and market profitability of providing for the aged coincide with the original meaning of the insurance industry.

On the level of social security, the overall security level of the three-pillar pension system in China is relatively low, with the first pillar dominating, but there are also problems of low security level. Therefore, the participation of commercial insurance can improve the level of social security to a certain extent.

As far as market profitability is concerned, with the improvement of the living standards of the elderly and the enhancement of their ability to pay, the demand of the elderly for commercial insurance products is increasingly prominent, and the inclusiveness of products and services with various asset properties is also increasing. There will be great market space for commercial insurance companies to cut in from this aspect and participate in pension real estate, insurance products and pension services.

In recent years, after the previous heavy lifting asset layout, insurance companies are slowly returning to rationality and becoming more and more clear about their own positioning-"insurance surname". They should form differentiated competition through providing for the aged, innovate services, give full play to the advantages of insurance+and build a big healthy ecosystem.

At the moment when long-term insurance is ready to come out and commercial insurance can play more roles, we believe that all insurance companies will participate in the pension industry in their own ways in the future, which makes us more full of expectations for this industry.

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The content of the article comes from public information collation and AgeLifePro research results. If there is any error, please contact customer service. Thank you.