On July 21, 2023, the Rongzhong 2022-2023 China Industrial Investment Rankings were grandly released. Harvest Capital won the "2022-2023 Annual China's Best Investment Institution in New Consumer Sector" award, and Mr. Alan Song, Founding Partner and Chairman of Harvest Capital, won the "2022-2023 Annual China's Best Investment Figure in New Consumer Sector" award.

The importance of the consumer industry is self-evident. Since reform and opening up, China has resolutely adopted an export-oriented economic development model. Especially after joining the WTO in 2001, China's economy enjoyed rapid growth from globalization dividends over 10 years. Since 2010, investment has gradually replaced imports and exports, playing an increasingly important role in China's economic growth engine.

As China's economy continues to grow, per capita GDP is advancing rapidly from USD 12,000 toward USD 20,000 and USD 30,000. Chinese society needs to transform from a model emphasizing production and underemphasizing consumption to one emphasizing consumption and services. China's future economic growth must transform from a model relying mainly on investment and imports/exports to a consumption-driven model based on consumption and domestic demand. Consumption is the stabilizer and ballast of China's economy.

The consumer industry has undergone rapid changes over the past three years. Harvest Capital has been committed to finding consumer projects with high growth potential, especially consumer enterprises that meet the essential, high-frequency, livelihood-oriented needs of people's lives. They deeply understand demand changes and industry trends in the consumer market, actively participate in exploring and innovating consumption models, and provide consumers with higher-quality products and services.

In the future, Harvest Capital will continue to increase its strategic layout in China's consumer sector, committed to discovering and cultivating more excellent enterprises, promoting China's consumer industry toward a more prosperous tomorrow.