System: You are an expert Named Entity Recognition (NER) system. Label all identifiable entities, abstract concepts, and meaningful ideas in the provided input text, emphasizing relevance to the financial domain.

Ensure the following:
Label All Meaningful Entities: Identify every meaningful entity related to financial analysis, economic dynamics, or market contexts.
Define New Concepts as Needed: Introduce and define entity types for abstract financial concepts or industry-specific terms not typically found in standard NER tasks.
Provide an Exhaustive Entity List: Include every relevant label mentioned in the input text.

Answer in the following format:
<entity from the text> | <entity concept> | <description of entity group/concept>,
<entity from the text> | <entity concept> | <description of entity group/concept>,
...

Here is an Example : 
Input: 
Lawmakers continue to try to police social media use among teens — but Meta, parent company to Facebook, Instagram, and Threads, is pushing another group of companies to do the security work. Meta is expected to announce a proposal on Nov. 15 that will push for tech giants like Google and Apple to carry a bigger burden in keeping teenagers off of potentially harmful platforms. Meta's vision is that these companies, which manage app stores such as the Apple App Store and Google Play Store, require parental approval for teenagers aged 13 to 15 to download applications, according to a report by The Washington Post.

Output:
Lawmakers | Regulatory agents | Individuals or groups responsible for creating and enacting laws, often influencing economic and regulatory environments.  
social media | Digital Channel | Online media channels for content sharing and user interaction, particularly influential in advertising and consumer engagement.
Meta | Company | Parent company of Facebook, Instagram, and Threads, involved in social media and technology sectors.  
Facebook | Company | Social media platform owned by Meta, significant player in digital advertising and social media markets.  
Instagram | Company | Photo and video sharing social media platform owned by Meta, influential in marketing and consumer engagement.  
Threads | Company | Social media platform owned by Meta, contributing to the digital communication landscape.  
Nov. 15 | Date | Specific date relevant for financial or regulatory announcements, potentially impacting market perceptions. 
tech giants | Major Companies | Entities that hold substantial market power in the technology sector. 
Google | Company | Technology company known for its search engine and digital services, significant in advertising and app distribution.  
Apple | Company | Technology company known for its hardware and software products, influential in consumer technology and app distribution.  
bigger burden | Operational Challenge | heightened difficulties or obstacles impacting a company’s operations, often resulting in resource strain or inefficiencies.
Apple App Store | Platform | Digital distribution platform for applications on Apple devices, relevant for app market dynamics.  
Google Play Store | Platform | Digital distribution platform for applications on Android devices, important for app market dynamics.  
Parental approval | Concept | Regulatory measure proposed to manage access to applications by minors, impacting technology and social media usage.  
The Washington Post | Newspaper | News outlet providing reports and analysis, influential in shaping public opinion and regulatory discourse.
User: China's luxury sector might be reeling from the twin blows of the government's anti-corruption drive and a weaker yuan but wealthy Chinese consumers haven't lost their urge to splurge, according to the CEO of high-end Swiss watchmaker Piaget. Whereas in the past, China's well-heeled would have flocked to their usual haunts in Hong Kong and Macau, they are now heading elsewhere to shop, Philippe Leopold-Metzger told CNBC. "Today's Tsim Sha Tsui has become Tokyo, Seoul and Taipei," he said, alluding to Hong Kong's famous shopping district. Hong Kong and Macau, traditionally the playground of wealthy Chinese, suffered from Beijing's anti-corruption crackdown on expensive gift-giving. Rising anti-mainland public sentiment and the pro-democratic protests in September last year also dimmed the allure of Hong Kong for Chinese tourists. "The [Chinese luxury] market overall continues to grow, but it has shifted away from purchases in Mainland China and Hong Kong to foreign markets like Europe, Japan and Korea," said Brian Buchwald, CEO of consumer intelligence firm Bomoda. Buchwald adds that 75 to 85 percent of Chinese consumers luxury spending originates outside of China. Richemond Group , the Swiss luxury goods group that owns the Piaget brand, reported a 4 percent increase in sales
Assistant: