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经济寒冬来临，存量市场中的竞争加剧，但对于消费行业来说，这却未必是一件坏事。 The economy is looking wintrier and competition intensifying in mature markets, but that is not necessarily a bad thing for the consumer sector. 著名的戏剧家Arthur Miller在其剧本《代价》中曾说到：过去一个人如果难受的话，他也许上教堂，也许闹革命，但在现在，他会选择去消费。 Famed dramatist Arthur Miller once penned in The Price, ''Years ago a person, he was unhappy, didn't know what to do with himself—he'd go to church, start a revolution—something. Today you're unhappy? Can't figure it out? What is the salvation? Go shopping.'' 此言非虚，事实上今天消费对人类的意义，已经几乎是宗教、政治、文化整合与社会内化的功能总和。 He has a point. In fact, the significance of consumption today could almost be considered functionally a conglomeration religion, politics, culture, and social internalization rolled into one. 这不仅是一个“新资本”的狂欢时代，也是“新消费”的崛起时代。而作为自2018年起就被中国金融圈频繁提及的词语，“新消费”一经诞生，便如拍岸惊涛般冲击着旧有资本世界的秩序。 It's not only an era in which 'new capital' is celebrated, but also a time for 'new consumption' to rise up. An oft-repeated phrase in Chinese financial circles since 2018, 'new consumption' came to the old world of capital with a shock wave. 当李宁成为千金难求的潮牌，当波司登走上纽约时装周，当海底捞在全世界遍地开花，当滴滴完胜Uber垄断年轻人的出行市场，当华为的性能和销量全方位K.O.苹果和三星，当Forever 21被彻底挤出中国市场……种种迹象表明，消费人群、消费需求和消费产品都在悄然之间发生着真实的改变。 The arrival of Lining as an eminently fashionable and sought-after brand, Bosideng in New York Fashion Week, Haidilao's global embrace, Didi’s domination over Uber in the youth ride-sharing market, a Huawei whose features and sales eclipse Apple and Samsung, and the complete squeezing of Forever 21 out of the Chinese market… tell us by so many signs that real change is quietly occurring in consumer groups, consumer wants, and consumer products. “这跟年轻人有关，跟年轻人的爱国热情有关”，加华资本创始合伙人宋向前肯定地说。 ''It has to do with young people and their sense of patriotic enthusiasm'', founding partner Song Xiangqian of Harvest Capital confidently puts it. 事实上，在一个不确定性陡升的生存环境中，每个人都在试图通过消费行为寻找自信。 In fact, we all look to shore up our self-confidence through consumption in an uncertain world. 时光回溯40年，大量国外品牌进入中国还是在上世纪80年代——那是个短缺的时代，因此“80后”们更加拥护麦当劳、肯德基、优衣库、H&M、ZARA这些国际品牌，认知里也是外国货优于中国货，唯有洋品牌才能带给他们自信。但不得不承认的是，人到中年的他们正在一步步退出消费市场。 As we look back on the last 40 years, we find the greater majority of foreign brands entered the Chinese market in the 1980s. It was an age of 'shortages' and hence international brands such as McDonald's, KFC, Uniqlo, H&M, Zara held a special place in the hearts of '80s kids, for whom foreign goods were perceived as superior to those made in China. Only Western brands were capable of bringing that self-confidence. There's no denying that, having come to middle age now, this group is also slowly exiting the consumer market. 伴随着中国真正成为全球第二大经济体，“90后”、“00后”则从一出生就见证了中国的崛起，他们身处中国经济成长的高速列车中，强烈的民族自信带来了更强烈的民族认同。在这样一个时代下的消费市场，国潮成为了“酷”的主角， 二者相得益彰。 Yet China's tremendous rise is all '90s and '00s children have ever known as China has really taken on the mantle of the world's second-largest economy. A stronger sense of self-confidence as a part of one's national identity on board the train of high-speed economic growth has brought with it a similarly stronger sense of national recognition. 'Guo Chao' has become the protagonist of 'cool' in the consumer market of today's era. They bring out the best each other. Don't chase trends - invest in champions only 有人说国货之光是市场的新风口，有人又抬杠说不过是昙花一现，毕竟不是百分百的例子都成功满满——无人货架和小黄车的溃败依然历历在目。这些“追逐风口”的故事不仅给了心焦气燥的创业者们当头一棒，也让太多投资人明白了“慢才是快”的道理。 The new sheen on 'China-made' is a trending market for some, but, provocatively, a mere flash in the pan for others. Not everyone ends up going onto greater and greater heights -- the collapse of Wuren Huojia and ofo are still fresh in people's minds. Such stories of chasing the 'next big thing' are not only a sober reminder to anxious entrepreneurs but also an instruction to many investors in the logic of 'more haste, less speed'. 2007年，宋向前创立加华资本（原名加华伟业资本）。作为最懂生活的投资人，坚守在消费投资领域12年的加华资本，始终专注于大消费与现代服务产业，以“日拱一卒无有尽，功不唐捐终入海”的态度扎根中国消费行业。 Song Xiangqian founded Harvest Capital in 2007 (originally Jiahua Weiye Capital). As an investor and 'lifestyle Guru' who has kept to the consumer sector for 12 years at Harvest Capital, Song Xiangqian has set down firm roots in China's consumer industry. He has a 'slow and steady wins the race' mentality, and consistent focus on 'big consumption' and the modern services industry. “我经常和团队讲，想要挣快钱，加华不适合。二十多年在金融行业的经验，让我习惯了慢工出细活”，宋向前坦言。 ''I often tell my team that if you want to make a fast buck, Harvest is not for you.'' I've become accustomed after more than 20 years in finance to a focus on slow, diligent, high-quality work”, Song Xiangqian says frankly. 用他自己的话说，12年来加华资本投资了将近30家消费品牌，“用钱生了好多钱，虽然数量不多，但投出的项目基本都是全国细分行业的冠军企业”。 As he tells it, Harvest Capital has invested in nearly 30 consumer brands in these 12 years and, ''We put our money to very good work. Although it is not a large number, basically all the projects we invested in are champions of their subsectors nationally''. 今天的消费者可能早已习惯了这样的生活：早晨醒来一口巴比馒头，半盅小罐茶，出门上班打开滴滴打车，上午加餐来一包洽洽食品，午餐聚会看一眼大众点评，下午茶与朋友们分享来伊份的零食，晚上回家饮一口煲好的新鲜老乡鸡，偶尔加班时还需要一罐东鹏特饮。这些老百姓心中家喻户晓的品牌背后，都包含着过去12年里，宋向前和他的投资团队的专业与坚持。 Today's consumer might have already become accustomed to a lifestyle including the following: taking a bite out of a Babi Mantou after waking up with a cup of Xiao Guan Tea, catching a Didi to work, ordering a pack of Qiaqia Food for morning tea, glancing at Dazhong Dianping over lunch, sharing Laiyifen snacks with friends for afternoon tea, drinking a freshly brewed pot of Laoxiangji after returning home at night, and requiring an Eastroc Super Drink for the occasional overtime. Behind these now universally-known brands lie the professionalism and dedication of Song Xiangqian and his investment team over these past 12 years. 艾诚：加华资本从2007年成立到2019年，经历了O2O、移动互联、AI、5G等等好几轮投资风口，但您一直都把自己的时间和精力放在了消费领域——只投衣食住行，这种专注让我有些惊讶，在您看来，这是一种坚持，还是一种固执？ Gloria: Harvest Capital has lived through many different investment waves since its 2007 founding to 2019, such as O2O, mobile internet, AI, 5G, and so on. But you've always focused your time and energy on consumption - the consumer domain - and have only invested in the mainstay essentials. That focus is a little surprising. In your view, does that stem more from consistency or stubbornness? 宋向前：我觉得首先是因为热爱。我是一个消费主义者，而且我个人也比较热爱生活，干消费是因为我的本性使然，因为热爱，所以能够坚持。 Song Xiangqian: I think, first of all, it's due to passion. I'm a proponent of consumerism and have quite a 'zest' for life. The consumer sector suits my personality because it's a passion of mine, so I can be persistent. 消费是基于人性洞察，如果你看到了人间百态，如果你能走进万家灯火，给所有的老百姓提供包子、馒头、豆浆、油条，衣服，食品，就是衣食住行，吃穿用度，娱教医养，这是我们每个人的终身相关，这样的事业足够伟大了。 Consumption is based on insight into human nature. If you can perceive the human condition, if you can make your way into every house in this country and provide all its people with buns, soy, breadsticks, clothing, food, and so on; that is, the everyday consumables and daily expenses, food, accommodation, travel, entertainment, education, and so on, which are always relevant to every one of us throughout our lives, then you've got an already sufficiently impressive endeavor there. 12年一个生肖的轮回，中国创投业的热点也在交替更迭，面对无数的“伪风口”和大大小小的坑，宋向前却几乎从未失手。加华的投资项目组成了一面密密麻麻的资料墙，宋向前的办公桌上也堆满了奖杯奖牌——他的投资成功率接近百分之百。 A full 12-year rotation of the Chinese Zodiac has brought with it many changes in what is hot or not in China's VC industry, but Song Xiangqian seems almost to have never lost his footing despite numerous 'false trends' and the ups and downs thereof. Harvest's investment projects form a dense wall of data and Song Xiangqian's office desk is piled to the brim with trophies and medals. His investment success rate approaches 100%. “我们投资的企业都是行业龙头，越是大企业好企业，对于资金的需求越低，而对于投资方的要求也越高，坦白来说这对我们投前投后的管理压力都很大”，宋向前表示，“但好在至今我们一单都没失手过，投资层面我们从来没有过项目亏损，而在投后管理方面，我们投资的许多企业，也都成为了我们的LP，企业家选择相信加华的敬业精神和投资实力，这一点我们非常欣慰与感恩。” ''The companies we invest in are leaders in their industries. Now, the bigger and better the company, the less their need of funds and the more stringent their demands on investors. Frankly, it's a significant burden in terms of our pre- and post-investment management'', Song Xiangqian states that, ''Fortunately we haven't stumbled on anything as of today. In terms of our investing, we have never born any losses from any of our projects and, in terms of post-investment management, many of the companies we invested in have also become our LPs. They are entrepreneurs choosing to trust in Harvest's sense of professional dedication and investment prowess, which we find very gratifying and are very thankful for.'' 'Super companies' and a resurgent 'Guo Chao' 根据相关数据显示，目前中国20-30岁的年轻人约占人口总数的17%，其消费金额占到总人群消费金额的30%以上。 The data indicates Chinese youth aged 20-30 make up around 17% of China's population, whereas their consumptive spending power accounts for over 30% of the total. 当中国的年轻一代驱赶着潮流奔腾而至，大批民族消费品牌也感应到新时代的召唤乘势兴起——国潮，也应运而生，对此宋向前表现得坚定不移，“中国的，以后一定是世界的。” As a generation of Chinese youth drive the next wave of popular trends forward, many local domestic Chinese consumer brands are also rising to the call with the changing tides of a new era -- 'Guo Chao' thus came into being, about which Song Xiangqian opines with certainty that, ''What China's got now, the world will certainly get in time.'' 艾诚：2019年我们经历了经济增速放缓，但在衣食住行的消费领域出现了一个特别鼓舞人心的现象，就是国潮的兴起，原来的国外大牌慢慢消失，或者开始冷清，年轻人开始对小众的民族品牌趋之若鹜，这是为什么？ Gloria: In 2019 we saw a slowdown in the rate of economic growth, but we also saw a particularly encouraging trend in the consumer sector in terms of essentials; the rise of 'Guo Chao'. Former foreign greats are gradually disappearing or fading and young people starting to mass toward more niche ethnic Chinese brands. Why do you think this is? 宋向前：中国是一个独特的文化大国，中国的消费品牌崛起，会给世界带来一些非常有益的补充，包括我们现在的老干妈、鼎泰丰、海底捞、波司登，越来越多。我相信未来的20年到30年，随着好人做生意的时代来临，更多的企业家会真的关注人性洞察，继而优化产品洞察，再把更多的人文价值放在商品里面，我相信中国品牌一定会走向世界。 Song Xiangqian: China is a major power with a very unique culture. The emergence and dominance of Chinese consumer brands will prove a very beneficial supplement to the rest of the world, which includes our current Old Godmother, Din Tai Fung, Haidilao, Bosideng, and others - more and more increasingly. I believe we are going to see more entrepreneurs really focus on their insights into human nature in the next 20 or 30 years as we enter an era of ethically-focused businesspeople, thus further improving and refining their insights into their products. They are going to be imbuing their goods with greater cultural value, and I believe that Chinese brands will certainly be expanding to and flourishing in the rest of the world. 艾诚：那我能否反问一下，只要有人就有江湖，有江湖就有品牌，其实任何时代从来都不缺品牌，那您怎么证明国潮来了？消费大时代来了？这是不是昙花一现呢？是不是一个虚假繁荣呢？ Gloria: Then can I ask, wherever there are people there is a market, and wherever there's a market, there's brands. There are brands in every era. So how can we know for sure 'Guo Chao' is really here? And an era of 'big consumption'? Might it not be a flash in the pan? A false boom? 宋向前：宏观上来说，因为现在老百姓大多数都明白了，原来我们是储蓄率很高的国家，现在大家都愿意花钱了。 Song Xiangqian: From a macro perspective, it's because - and most people today understand - we used to be a country with a very high savings rate, but now everyone is willing to spend. 第二个，因为社会的消费结构在变，家庭结构也在变，整个社会的主要消费人群也在年轻化，他们都是95后、00后，他们未来成为消费的主力军。这代人其实对未来充满信心，对于未来自己收入水平的增长，生活的美好愿望，他们要求很高，也懂得去满足自己。 Secondly, family structures are also changing because of structural changes in society's consumption. The dominant force in consumption across society as a whole has been trending younger. They are children of the '95 and '00s, and will become the dominant consumer force of the future. This generation looks to the future with a lot of confidence and has high hopes about increasing future incomes and living great lives. They also know how to satisfy themselves. 第三个，要对中国经济有信心。虽然现在很艰难，但是我相信走过这个艰难的时代，中国经济一定会成为世界经济的引擎，成为世界经济的发动机。 Thirdly, I'm confident about China's economy. Although it's facing difficulties now, I believe China's economy will certainly become the world's engine of economic growth after this challenging period, and the motor of the world economy. 2018年，中国城镇城镇化率已经达到了59.58%，距离发达国家70%的水平仅有一步之遥，大量人口进入城市生活，势必意味着各类消费习惯的改变与消费者崛起。 China's urbanization rate in 2018 hit 59.58%, just a short distance away from the 70% level of developed countries. Many people are moving to an urban lifestyle, which must imply changes are afoot in consumers' behaviors and tremendous rise. 发达国家一个重要标志就是商业的成熟，而今天中国的商业文明处于诞生的过程中，人性的力量正变得越来越强，中国的企业家精神逐步形成。 Commercial sophistication is an important mark of a developed country, whereas China's business culture today is in the process of being born. Its ethoses will gain in strength as China’s entrepreneurial spirit takes shape. “在这个过程中，中国会诞生大量的好公司”，宋向前肯定的说。 ''China will be creating a lot of great companies during this process'', Song Xiangqian states confidently. “卖酱油的海天味业总市值已经接近3000亿，就连一个小小的传统连锁火锅店，海底捞也有2000个亿，国酒茅台有一万多个亿，这在过去是不可想象的，但是伴随着消费服务业这个超级浪潮的崛起，未来的中国会进入超级公司崛起的时代。” The total market cap of Haitian, which sells soy sauce, approaches 300 billion RMB. Even a 'small' chain of traditional hotpot restaurants, Haidilao, stands at 200 billion RMB. Kweichow Moutai is valued above 1 trillion RMB. Once unthinkable, a 'wave of super companies' in the consumer services industry will usher in an era where they will begin to emerge and dominate in tomorrow's China.'' 2019年10月17日晚间，武汉中商发布公告，重组居然之家事项获证监会审核通过。12月26日，武汉中商更名居然之家，标志着这家家居卖场巨头正式登陆A股，截至当日收盘，公司总市值达630亿元。 Wuhan Zhongshang publicly announced the Securities Regulatory Commission had approved Juran Zhijia's restructuring on the night of 17 October 2019. Wuhan Zhongshang changed its name to Juran Zhijia on 26 December, marking the furniture sales giant's official debut to the A-shares market which, as at the end of trading today, had reached a total market capitalization of 63 billion RMB. 作为宋向前最得意的代表投资案例之一，这个项目也为加华资本带来了丰厚的收益。 This project, one of Song Xiangqian's favorite investment cases, also brought in a tidy profit for Harvest Capital. 家居行业是一个市场规模超2万亿元、年增速达5%以上的大赛道，然而集中度却并不高，亟需巨头的整合。在这个赛道里，中国玩家只有两强——居然之家和红星美凯龙，其中居然之家在北，红星美凯龙在南。对于身处北京的加华资本来说，“北居然”无疑是一个绝佳的投资标的。 The furniture market comes in at over 2 trillion RMB and rides a fast lane of 5% year-on-year growth, yet lacks concentration and urgently requires the organizing influence of a market giant. The only two major Chinese players in this 'fast track' are Juran Zhijia and Red Star Macalline. One, Juran Zhijia, is based in the north of China and Red Star Macalline in the south. For Beijing-based Harvest Capital, the 'northern Juran' was undoubtedly the best investment target. “第一，是它具有垄断性的属性，第二个是规模优势非常大，有20多个亿的净利润，在全国也是数一数二的渠道型企业；第三是它变革的空间很大，坚决地拥抱数字经济的时代，在传统的做家具流通业渠道这样一个俗称二房东的业务上，他们进行了大踏步的改革，坚决地走向C端，立志新消费的改革，从低频逐渐演变成高频”，宋向前坦言。 ''First of all, it had monopolistic characteristics. Secondly, it had a strong advantage at scale with net profits exceeding 2 billion RMB as an excellent channels-focused Chinese company on the national scene; thirdly, it still had a lot of space for change and improvement, had resolutely embraced the era of the digital economy, and had made great strides toward reforming services in traditional furniture, i.e. so-called 'middleman landlord', circulation channels. They were consistent about their C-end focus, implementing 'new consumption' reforms, and evolving from a low-to-high frequency'', Song Xiangqian states. 然而这样一家背景雄厚、资金充足的企业，本身并不需要融资。 On the other hand, a strong and well-funded company like Juran will have essentially no need for extra financing. “我与居然之家的汪林朋是多年的老友，他说自己不想上市，但我是个锲而不馁的人，这么好的公司，我等得起。” ''I'd been friends with Wang Linming of Juran Zhijia for many years. He didn't want to go public, but I don't like giving up. I had to try with such a great company.'' 十年磨一剑，锲而不馁的宋向前开始了对居然之家长达10年的追求和守候。 Good things take time. Song Xiangqian began a 10-year long quest for Juran Zhijia. 10年里，执着的加华资本创造一切条件与居然之家保持接触，创造一切条件为居然之家服务，创造一切条件让对方知道加华资本与其他投资机构的不同。 A determined Harvest Capital kept in touch with Juran Zhijia, got to offer its services, and then to demonstrate how Harvest Capital differs from other investment institutions in those 10 years. “大公司选投资人，其实选是一个事业合伙人，选的是你的综合能力，选择你对他有帮助，同时在合作的过程中还要赢得人家的尊重和信任”，宋向前坦言，“我们是把服务放在前面的公司，任劳任怨，不求回报。” ''When large companies select investors, they are actually selecting partners. They are selecting overall capabilities, choosing the help you can offer while at the same time you also have to gain their respect and trust in the course of that cooperation'', Song Xiangqian puts it bluntly, ''We put our company's services first. We work very hard without necessarily the expectation of return.'' 2018年机遇终于来临。那一年登陆港股2年多的红星美凯龙正式回归A股市场，对手的提速也让居然加速了拥抱资本的步伐。2018年初，居然之家宣布接受来自阿里巴巴、泰康集团、加华资本等投资机构达130亿元的联合投资。 An opportunity finally arrived in 2018. That was the year Red Star Macalline, which had been publicly listed in Hong Kong for over 2 years, formally returned to the A-shares market. The rapid pace of the competition gave Juran another impetus in their embrace of capital. In early 2018, Juran Zhijia announced an accepted 13 billion RMB joint investment from investment institutions, including Alibaba, Taikang Group, and Harvest Capital. 10年长跑，宋向前终于“追得女神归”；如果按照居然之家今天的市值计算，这笔投资的目前浮盈已超过70%。 Song Xiangqian had finally 'got the girl' after a 10-year marathon; going by Juran Zhijia's market cap today, the investment would net a 70%+ profit. “其实2017时，我和汪林朋就已经达成了初步意向，当时居然之家正在在拥抱新零售，做数字化转型升级，需要通过占领资本市场高地来实现产业梦想”，宋向前对艾问表示，“坦诚地来讲，这个项目是加华主导的，尽调都是我们做的，我们尽调之后，后续才有了阿里和云锋的基金加入，而我也有幸陪着汪总一起见证了这个过程。” ''Actually, Wang Linming and I had already agreed on preliminary intentions in 2017. Juran Zhijia was then currently embracing new retail and undergoing a digitalization transformation and upgrade. It was necessary for them to occupy the capital market heights to achieve their industry dreams,'' Song Xiangqian stated to iAsk, ''Frankly, Harvest led on the project. We did all the due diligence and the Ali and YF funds joined afterwards. I was fortunate enough to witness this process alongside Director Wang.'' “中国的下一个30年，除了消费服务业是超级浪潮。更重要的是，中国也会诞生另外一个特点，有超级公司诞生的时代来了，我们相信，像优衣库、麦当劳、可口可乐这样的公司，未来一定会在中国诞生。” ''Looking forward to China's next 30 years, more important than the 'wave of supers' coming in the consumer services industry is another characteristic of the coming era, which will be the birth of super companies. We believe companies like Uniqlo, McDonald's, and Coca-Cola will certainly be born in China in the future.'' Will lipstick get redder and short skirts shorter? 地球缺了谁都转，但是多了眼光独到的投资人，资本世界便会多了一抹鲜艳色彩。 Life goes on, but the world of capital really can add a dash of color for the investor with a more unique vision. 除了是投资人，宋向前还是一位客座教授，很难想象一位同时具有这两种严肃身份的男士会热衷于逛街。事实上，宋向前不仅喜爱逛街，还对当前流行的“她经济”了然于心，并且有着独特的见解。 Song Xiangqian is a visiting professor as well as an investor. It is hard to imagine a man with those solemn twin titles would love shopping. In fact, not only does Song Xiangqian love shopping, but he is also very knowledgeable about what is trending right now in the 'she economy' and has his own unique spin on things. 艾诚：其实很难想象，一个金融学背景，一个客座教授，一个证券从业的资深人，会是一个热爱消费的人。 Gloria: It's a bit hard to imagine a seasoned finance professional and visiting professor from the securities industry could also be a passionate consumer. 宋向前：因为我会逛街。一般男人不逛街，我爱逛街，我爱看品牌，对品牌的关注，可以说我对女士的服装、鞋帽，包括所有的女士用品的品牌和创业史的了解，远胜一般的女性和一般的消费者，这个恐怕已经不是工作了，是真的我热爱这一行。 Song Xiangqian: I go shopping a lot. Men don't normally, but I love it. Because I love looking at brands and my focus on brands, you could say, my understanding of women's clothing, shoes and hats, including all the women's brands and founding histories, is much greater than for the average woman or everyday consumer. I'm afraid it's no longer just a job. I really love this industry. 艾诚：真的吗？那您说说这2019年什么热，什么火？ Gloria: Really? Then what's hot and in vogue in 2019? 宋向前：2019年，我觉得电视直播比较热吧，网络直播比较热，所以李佳琦比较火，网红带货很火，这是时代发展的一个潮流。 Song Xiangqian: In 2019, I think live TV was quite big, live streaming was quite big. So Li Jiaqi was very popular; social influencer marketing was very big - these are developing trends of our time. 艾诚：2019年，什么类的消费品也是正当红？ Gloria: So what kinds of consumer products were hitting their stride in 2019? 宋向前：我觉得口红吧，因为经济不好，口红会火，口红经济就来了。然后我觉得服装类的短裙会好下去，经济越不好，裙子会越短。 Song Xiangqian: Lipstick, I think. Lipstick will be popular because the economy isn't great at the moment. The 'lipstick economy' has arrived. I also think fashionable short skirts will do well because skirts will keep getting shorter as the economy remains flat. 艾诚：从您的专业角度能解释一下吗？我们讲口红经济，短裙经济，这背后是什么？是什么意思？ Gloria: Could you explain this a bit from your professional perspective? When we talk about the 'lipstick economy', the 'short skirt economy', what is under that? What does that mean? 宋向前：跟注意力有关系。因为经济特别好的时候大家都很匆忙，大家的信心都比较足，所以裙子不用穿那么短也可能引起人家的注意，口红不用选那么红也有信心去面向这个世界。但经济下行的时候，大家信心上不足，所以裙子得更短一点，口红要更红一点。 Song Xiangqian: It's about attention. Everyone is very busy when the economy is doing particularly well and fairly self-confident. So we don't need to wear such short skirts to get others' attention. We don't need to select such red lipstick to face the world with confidence. But when the economy is trending down, then people lack confidence and so skirts need to be a bit shorter and lipstick needs to be a bit redder. 2019年的雪比以往时候来得更多一些，无数个曾经的大热风口步入凛冽寒冬。天气正冷，太多企业亡命天涯，资本世界人心惶惶。然而，自然堂面膜2天卖了105万张，故宫口红名声大噪，李佳琦在千万个手机屏幕上夸张地喊着“Oh my god”。 The snows of 2019 have come in greater force and many former trends fallen into wintry times. As its cold outside, there are too many anxious corporations and investors are getting jittery in the world of capital. But CHANDO still sold 1.05 million masks in 2 days, there's still a lot of buzz around Palace Museum Lipstick, and Li Jiaqi is still yelling his over-the-top ''Oh my God'' across countless mobile phone screens. 宋向前的理论其实很在理，也许“风口”可以瞬息万变，但人们对物质的消费是永不停止的。因为男人会空虚，女人会孤独。这也是“国货之光”熠熠生辉的原因。 Song Xiangqian's theory is indeed reasonable. Prevailing trends are fickle, but material consumerism never stops – because men are going to feel empty, and women are going to feel lonely. That might also explain some of the newfound glamor on 'made in China'. 宋向前说：“我自己也在平衡生活，因为做消费，做服务的人，你一定要足够的热爱生活。我觉得如果人生能达到一个境界，会是我理想的状态，跟钱多钱少没有关系，争取当农夫，不要当猎手，即使手上只有一亩三分地，我也要把它绣出花来。抬头看天上云卷云舒，低头看庭前花开花谢，心灵的从容。” As stated by Song Xiangqian: ''I'm also trying to achieve a balance in life as well. I've got to have a sufficient zest for life as someone involved in the consumption and services sector. I think my ideal state is when lifestyle reaches a certain level and it’s not about having more or less money. It is better to be the 'stable farmer' rather than the 'hunter' and to try to plant some fantastic seeds in the limited acres in your hand, and to look up at rolling clouds or down to flowers blooming in your yard with peace of mind.''
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