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New car preview： Lifan four new cars unveiled at Beijing Auto Show.

　　[car home Information] A few days ago, the reporter learned that the car will be exhibited in the auto show to be held in April next year in the form of four new cars, namely, I, 320, 620 and a brand-new SUV. These new cars are made by Lifan Motor for different levels of consumers.

●

　　A small car with a similar appearance. The real shot of the new car was exposed a few days ago. Compared with the MINI, its front face is a pair of twins, and the sleek headlight design is exactly the same as the MINI model.

　　In appearance, lifan 320’s "round top" design also reveals the suspicion of reference, but the new car is luckier than the MINI because it is a five-door model. The new car is expected to be launched in the middle of this year, with a total displacement of 1.1L and 1.3L..

● Lifan 520i

　　Lifan 520i is the first hatchback launched by Lifan Motor for the global market. The estimated price of the new car is 40,000 ~ 70,000 yuan. It is equipped with Lifan’s self-produced 1.3L, 1.6L and imported Tritec engines, and will provide 11 models with different configurations.

Home of the car

　　With the extreme expansion of the domestic compact hatchback market, some car companies are aiming at this market one after another. Lifan Motor launched this compact hatchback at this appropriate time. It was reported that lifan 520i would hold a new car listing ceremony in Chengdu on January 23rd, but it was learned from insiders of Lifan Motor that this date may be postponed, and the updated listing date of the new car has not yet been announced.

Looking back on the beautiful moments of Chinese films： Chinese film queens shining in the three major European film festivals

oneIn February 1992, Maggie Cheung won the Best Actress Award at the 42nd Berlin International Film Festival for her film Ruan Lingyu, which is the first Chinese movie star to win laurels at three major international film festivals in Europe.Today, in 2022, 30 years have passed, and 10 Chinese film actors have continuously demonstrated the performance charm of Chinese actors to the world.

On the 30th anniversary, it coincides with the return of the 72nd Berlin International Film Festival in an "offline" way. The actors took stock of the "light of Chinese film performance" in the past three major film festivals through the "film emperor" and "film queen" respectively, hoping that more Chinese film actors can "see all beings" on the international stage in the future.

As of January, 2022, the three major international film festivals in Europe (also known as the world’s three major international film festivals) are the most authoritative, famous and influential among the international class A film festivals, namely, Venice International Film Festival in Italy, Cannes International Film Festival in France and Berlin International Film Festival in Germany. There are 54 award-winning Chinese films, and there are 10 award-winning Chinese filmmakers, including five winners and five queens, including actors Ge You, Xia Yu, Tony Leung Chiu Wai, Liao Fan and Wang Jingchun, and actresses Maggie Cheung, Gong Li, Xiao Fangfang, Ye Dexian and Yong Mei. Maggie Cheung is the only winner of both Berlin and Cannes.

Theater goers resumed at the "Truman Show" in Cannes, reviewing the Chinese film emperors in the three major European film festivals in those years (click on the blue word to jump). For everyone, I took stock of the five film emperors who won the top three awards since the 1990s, namely: Ge You, Xia Yu, Tony Leung Chiu Wai, Liao Fan and Wang Jingchun. This time, we will show you five actresses in Xingyao international film circle in the past 30 years through "The Episode of the Actress". They are: Maggie Cheung, Gong Li, Xiao Fangfang, Ye Dexian and Yongmei. Among them, Maggie Cheung is the only winner of both Berlin and Cannes.

The Chinese Film Postscript of the "Big Three" Film Festival in Europe

Maggie Cheung

Best actress at the 42nd Berlin International Film Festival

Best actress at the 57th Cannes International Film Festival

Works: Ruan Lingyu (Berlin International Film Festival)

Role: Ruan Lingyu

Works: Clean (Cannes International Film Festival)

Role: Emily

So far, Maggie Cheung is the only actress in China who won both Cannes and Berlin. She was only 27 years old when she won the Berlin film, playing Ruan Lingyu, the legendary film queen of the Republic of China. When awarding the award, she didn’t attend to receive the award because she filmed "Police Story 3", and it was hard to hide her excitement in the follow-up interview. Twelve years later, Maggie Cheung won the Best Actress in the 57th Cannes International Film Festival with the French film Clean, and completed two-thirds of the three Grand Slams at the age of 39. However, it seems that she has faded out of the film industry since then, and it is unknown whether she can re-enter the Venice Film Festival.

Ruan Lingyu, the film that won Maggie Cheung a Berlin film, was directed by Guan Jinpeng, which is a biographical film shot in a rare narrative way. It is reported that Maggie Cheung was not the first choice actor for a generation of famous actress Ruan Lingyu, and at first he was unwilling to shave his eyebrows into Ruan Lingyu-style ultra-fine eyebrows with the characteristics of the times.

Guan Jinpeng, the director, finally chose a script that interweaves the time and space of 1930s and 1990s. The actors presented their roles with an understanding of the times and characters, which enriched the film’s portrayal of Ruan Lingyu as an actor with the same role. Therefore, outside Berlin, Ruan Lingyu also won many nominations and awards such as Golden Horse and Golden Statue.

It is a great challenge for Maggie Cheung to play the real characters in history, especially Ruan Lingyu, who has created classic characters in many films and has a legendary life in reality, and finally stopped at the age of 25. In addition to being infinitely close to the role in modeling, the charm, posture and the relationship between different characters are also handled in a very proper way. Through performance and self-explanation, Maggie Cheung of Ruan Lingyu was shown to the world, and she completed the wonderful life of a 25-year-old actress at the age of 26.

Time came when Maggie Cheung was 39 years old. She won the Cannes Best Actress title for her wonderful performance in the French film Clean. At that time, she had left a lot of difficulties on the big screen.Forget the role, and in "Clean" she plays a female musician who has an eternal dream of rolling in her heart. Since then, she has also started to set foot in the music circle in real life. Moving the stage from the camera to the music festival also seems to show the free attitude of the double-winner to performance and life.

Gong Li

Best Actress in the 49th Venice International Film Festival

Works: "story of qiu ju"

Role: Qiu Ju

From actors to judges to others, there is a long list of personal honors belonging to actor Gong Li. Among them, she was the first Chinese actress to win the Venice Film Award at the age of 26, and the second actress to win the performance awards in three major film festivals after Maggie Cheung. This rural film, adapted from writer Chen Yuanbin’s novel Wanjia Litigation, also won the Golden Lion Award at the 49th Venice Film Festival.

In the film, Gong Li plays Qiu Ju, a village woman in a small mountain village in the northwest of China, wrapped in a headscarf and a cotton-padded jacket. She is pregnant, and she goes around asking for opinions for her husband who was trampled by the village chief. Gong Li, who arrived in the group one month late because of the filming of another film, was recognized by the group as the most similar one in Shaanxi dialect. At the screening site, Qiu Ju appeared for more than ten minutes, and the audience didn’t recognize the actor Gong Li. Liu Peiqi, the actress who plays Qiu Ju’s husband Wang Qinglai, even recorded her feelings of cooperation with Gong Li in a set diary. She is no different from the rural women who have lived in the village for a long time.

Besides being the winner of Venice Film, Gong Li also won the Best Actress Award in the 13th Chinese Film Golden Rooster Award for this film.With the debut of Jiu-Er in Red Sorghum, Gong Li seems to be born for the big screen and is firmly fixed in different types of films.Adventure-loving housewife Ju Dou, gorgeous fourth wife Song Lian, stubborn village woman Qiu Ju, brothel woman Ju Xian who sacrificed for love … Until last year, she played the actress Yu Yan in the Lou Ye film "Lanxin Grand Theatre". From her twenties to her fifties, she could still hold every role that was given to her.

"I just want a statement," said Qiu Ju, clutching her hand in a hurry, tunnel.

Josephine Siao

Best actress at the 45th Berlin International Film Festival.

Works: Woman, Forty

Role: A E

In the three major film festivals, there are two actresses who were sent to the queen throne by virtue of Xu Anhua’s films. One is Xiao Fangfang in Woman, Forty, and the other is Ye Dexian in Sister Tao. The former was 48 years old when she became a Berlin winner, while the latter got a Venice winner at the age of 63. On the one hand, Xu Anhua makes good use of delicate lens language to explore the minuteness of life, while the ordinary women she aims at can always use their own stories to achieve some kind of empathy of the times.

Sun Taiao ‘e in Woman, Forty is such an existence. Xiao Fangfang’s A ‘e is a typical woman in Hong Kong, China, trying to strike a balance between housework and company affairs, but she is often overwhelmed by her weak husband, her father-in-law with Alzheimer’s disease and her adolescent son.

Apart from the daily life of middle-aged women constructed by Xiao Fangfang with superb acting skills, the affection between A E and her father-in-law is the most touching. From the initial disagreement to the fact that my father-in-law only knew Aoe after suffering from Alzheimer’s disease, to the fact that Aoe accompanied him through the last part of his life.

The audience followed Xiao Fangfang through half a woman’s life, when she and her husband argued about "what is happiness" in daily language, and when she waited for the fish to die at the fish stall in order to buy a cheap fish. It is a way for Xiao Fangfang, the two-time Golden Horse and Golden Statue-winning actress, to prove herself to the world by using the power of characters to explore the ordinary life and impermanence of life.

It is reported that she is the second Chinese actress to win the Berlin Best Actress award after Maggie Cheung. Some critics say that "Woman, Forty" is the best literary film in Xu Anhua. This film with a douban score of 8.9 won not only the post-film and the Catholic Humanitarian Spirit Award at the Berlin Film Festival, but also the Golden Horse in the same year and the Golden Statue in the next year.

Don’t cry, don’t worry, life is like morning dew.

Deanie Ip

Best Actress in the 68th Venice International Film Festival

Works: "Sister Tao"

Role: Zhong Chuntao (Sister Tao)

At the Venice International Film Festival, Ye Dexian, who won the film, gave a speech in English, especially in Italian. At the age of 63, she was the oldest Chinese actor who won the "Big Three". The role of Sister Tao also won her the recognition of the Golden Statue and Golden Horse. The film has the temperament of director Xu Anhua, which is similar to "Woman, Forty". It is a masterpiece of philosophical thinking from the ordinary female life.

Two weeks before the film was released in Hong Kong, China, it was the first box office. In the first week of the film’s release in the Mainland, it surpassed the American blockbuster War Horse in the same period. Taojie, played by Ye Dexian, and Roger, played by Andy Lau, have a master-servant relationship. Taojie, who served the Luo family for five generations, eventually suffered from a stroke. After Major General Luo sent her to the nursing home, the master-servant relationship between them began to heat up day by day.

In addition to the old makeup, Ye Dexian’s precise handling of an old servant who is suffering from illness and dying, just right teasing and emotional treatment with strong empathy, many viewers, after watching Ye Dexian’s performance, felt that she was reborn by her role, and showed Zhong Chuntao’s life in reality in a meticulous and moving way.

"Acting very much like our own mother-in-law" is the young audience’s evaluation of Ye Dexian. The lines in the corners of the eyes and the gesture of hands still have your inestimable strength in the seemingly fragile body. When Ye Dexian restores the characters and stories, he also lets every viewer go back to his "Peach Sister", with a treasure and "I’m afraid it’s too late".

She said, "Life is short, it is hard to go. It’s late at night, and the voice is slow.".

ode to the plum blossom

Best actress at the 69th Berlin International Film Festival

Works: "Forever"

Role: Wang Liyun

The film "Auld Lang Syne" brought China the first "Berlin" double queen. On the night when the awards were announced, Wang Jingchun, the leading actor, won the Best Actress, and Yongmei, the leading actress, also welcomed her first Berlin-winning actress. She became the third China actress to win a Berlin film after Maggie Cheung and Xiao Fangfang, and the first China actress to win the award.

Yongmei, who was born in a non-professional class, made her first appearance in Black Panther band’s MV. Later, she worked as a part-time host and participated in TV series, and gradually set foot on the road of performance. For a long time, it seemed that she was the best age for an actress. Movies and TV plays were honed back and forth between different themes and roles, and she began to become an acting actress who made the audience "familiar".

In 2019, Yongmei and Wang Jingchun played a couple in Forever. Wang Liyun, the wife she plays, is a decent and thoughtful woman of the times, but she has to bear the repeated torture of fate, her son who drowned, who was forced to have an abortion and lost her fertility, and the child who raised her husband’s "affair" … Wang Lichun is full of choices and struggles made by women against fate in a certain era. Yongmei, who hasn’t seen the script for four years, was moved to tears by the script and the characters. This film sent her acting career to the peak, won the silver bear, and made the actress Yongmei realize the real sense of seeing all beings.

After 24 years of supporting role, all kinds of changes in life seem to be for that night in February, 19, when 49-year-old Yongmei bloomed in Berlin on a spring night. The woman named Wang Liyun, sitting in front of her son’s grave with her husband, quietly listening to the wind and drinking from a bottle, is still shaking with the end of the film.

「So long, my son」。

[Postscript]

The three major international film festivals in Europe (also known as the three major international film festivals in the world):

The three major film festivals in Europe (also known as the three major international film festivals in the world) are the most authoritative, famous and influential among the international A-class film festivals. They are Venice International Film Festiva in Italy, Cannes International Film Festival in France and Berlin International Film Festival in Germany. The three major international film festivals in Europe have different characteristics. Venice International Film Festival is the world’s first international film festival, with emphasis on art and avant-garde films. Cannes International Film Festival has the largest market in Europe, which emphasizes the combination of business and art; Berlin International Film Festival pays most attention to politics and sociality.

As for actor awards, only Venice has set up the best supporting actor and best supporting actress in the three major film festivals, while Cannes and Berlin have no leading role and supporting role, only the best actor and actress awards.

Beginning in 2021, the Berlin International Film Festival changed the original award for best actor and actress to the award for best leading role and best supporting role.

PS: it is strictly forbidden to reprint privately! Reprint or cooperate, please contact the author.

xkxike@qq.com

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Don’t worry! The central government adjusted 600 billion yuan to solve the problem of regional pension distribution.

　　From May 1st, China will reduce the proportion of urban workers’ pension insurance rates, which is expected to reduce the social security payment burden of enterprises by more than 300 billion yuan in 2019. However, the shortage of social security funds in China has been a hot topic of social concern in recent years. On April 10th, the China Academy of Social Sciences World Social Security Research Center released the "China Pension Actuarial Report 2019-2050", which even predicted that from 2019 to 2050, the current balance of the national urban enterprise employees’ basic old-age insurance fund will begin to accelerate diving after barely maintaining a positive number for several years, and the deficit scale will become larger and larger. By 2028, the current balance will be negative for the first time, reaching negative 118.13 billion yuan, and finally by 2050, the current balance may reach negative 11.28 trillion yuan.

　　In the case of such a tight fund, the state still reduces the old-age insurance rate for urban workers. People can’t help worrying that pensions are already so tight, and they have to pay less. Can pensions be paid after retirement?

　　Social security rates have fallen for five consecutive years, and enterprises still shout that the burden is heavy.

　　In recent years, "China’s social insurance rate is the highest in the world" has been frequently reported in newspapers. Although the official response is that "the level of social insurance premium in one country cannot be simply compared among countries", it is an indisputable fact that the social security burden of enterprises and employees in China is too heavy. Before 2015, the contribution ratio of five social security items in China, including pension, medical care, unemployment, work injury and maternity, was 29.8% for enterprises and 11% for individuals, which together exceeded 40% of wages. Most workers are used to measuring their salary level according to the after-tax standard. Based on the monthly salary of 4,000 yuan, the actual cost of the enterprise is more than 7,400 yuan, except taxes and fees, provident fund, etc., a large part of which are social security contributions. In order to reduce the social security burden, many enterprises will make some small moves in private when reporting the social security payment base to the social security department, and "low payment" has even become an open secret of the industry. Although this can temporarily play the role of paying less, it will also lead to the reduction of social security benefits for future employees.

　　In order to reduce the social security burden of enterprises and individuals, since 2015, the state has reduced or phased down the social security rate five times. For example, provinces (autonomous regions and municipalities) whose unit contribution ratio is 20% and whose accumulated fund balance can be paid for more than 9 months can reduce the unit contribution ratio to 19% in stages; The total rate of unemployment insurance can be reduced to 1% to 1.5% in stages. It is estimated that the current phased rate reduction policy will expire on April 30 this year, which will reduce the social security payment burden of enterprises by nearly 500 billion yuan. However, even so, these fee reductions of only one or two percentage points still make enterprises feel "not quenching their thirst". In particular, the "Reform Plan for the Collection and Management System of National Taxation and Local Taxation" promulgated last year proposed that social security would be collected by the tax authorities in a unified way, and it would be very difficult to pay social security at a low level, which means the arrival of the era of social security compliance. As soon as the news came out, it immediately caused an uproar, and enterprises were worried that labor costs would increase substantially. As a result, the voice of social security fee reduction is getting louder and louder.

　　The payment base of old-age insurance at reduced rate has also been adjusted.

　　The "Proposal" issued this time proposes to reduce the contribution ratio of basic old-age insurance units for urban employees, which can be reduced to 16% in provinces above 16%; Continue to reduce unemployment insurance and industrial injury insurance rates in stages, and extend the current phased rate reduction policy for another year until April 30, 2020; Adjust the social security payment base policy, and take the average wage of employees in full-caliber urban units weighted by the average wage of employees in urban non-private units and urban private units as the index for checking the upper and lower limits of the employee payment base. Individual industrial and commercial households and flexible employees can voluntarily choose an appropriate payment base within a certain range.

　　In addition to reducing the rate, the "Program" also adjusted the payment base policy. According to the Ministry of Human Resources and Social Security, the main consideration of this change is that the average wage of employees in full-caliber urban units can more reasonably reflect the actual average wage level of insured persons than the average wage of employees in non-private units stipulated in the original policy, so as to verify the upper and lower limits of individual payment base. The payment base of employees with lower wages can be reduced accordingly and the payment burden can be reduced. Some enterprises, especially some small and micro enterprises or labor-intensive enterprises, many employees pay according to the lower limit of the payment base, and the burden of enterprise payment can be further reduced, which can benefit more.

　　For example, suppose that the average wage of employees in non-private units in a certain area is 6,000 yuan, and the lower limit of the original individual contribution base is 3,600 yuan. If the monthly salary of an employee is 3,000 yuan, the payment amount should be calculated according to the lower limit of the contribution base of 3,600 yuan. After the adjustment of calculation caliber, the average wage of employees in full-caliber urban units is 5,000 yuan, and the lower limit of individual payment base is correspondingly reduced to 3,000 yuan, so the employee can calculate the payment amount according to 3,000 yuan. By comparison, the monthly payment base is reduced by 600 yuan, the proportion of individual payment is 8%, and the monthly payment burden is correspondingly reduced in 48 yuan. If the enterprise determines the unit payment base based on the sum of individual payment bases, the monthly payment base of the enterprise will also be reduced by 600 yuan, and the payment burden can be further reduced.

　　For individual industrial and commercial households and flexible employees, after the policy adjustment, not only the average salary is adjusted, the standard is lowered, but also the range of choices is enlarged. Choosing a low base can further reduce the burden of payment, and people with higher incomes can also choose a higher base of payment to improve their retirement pension level. For example, according to the above example, if the employee is employed flexibly, the monthly payment base can be changed from 6,000 yuan to the lower limit of 3,000 yuan, then the monthly payment base will be reduced by 3,000 yuan, and the monthly payment burden will be reduced accordingly in 600 yuan.

　　Increasing accumulated balance will not cause payment risk.

　　Due to the aging of the population, China’s pension insurance funds are facing increasing payment pressure, and the increase in expenditure is higher than the increase in income. Even in some provinces, the current income is not enough, and the risk of fund "bottoming out" is increasingly prominent. The policy introduced this time will reduce the contribution of endowment insurance by 3 percentage points, and the income of endowment insurance funds will definitely decrease, and the funds that are not well-off will inevitably be more nervous. After reducing the old-age insurance rate, whether the old people’s pensions will be affected and whether they can receive full pensions has become the most concerned issue for the insured.

　　In this regard, Yu Jun, deputy director of the Ministry of Human Resources and Social Security, said that lowering the pension insurance rate will effectively reduce the burden of social security contributions of enterprises, but it will indeed reduce the income of pension funds and increase the pressure on fund revenue and expenditure. However, the overall income of the national pension fund exceeds the expenditure, and the accumulated balance continues to increase. Overall, it will not cause the risk of pension payment and will not affect the timely and full payment of pensions. According to the statistics of the latest annual report, in 2018, the income of the basic endowment insurance fund for enterprise employees was 3.7 trillion yuan, and the expenditure was 3.2 trillion yuan. At the end of 2018, the accumulated balance of the fund was about 4.8 trillion yuan, which has strong support capacity. According to estimates, after the fee reduction, the current balance of payments can still be maintained for some time to come. While ensuring the payment, with the economic and social development, the state will continue to raise the pension level of retirees. At present, Ministry of Human Resources and Social Security and the Ministry of Finance are organizing and implementing the annual adjustment of the basic pension in 2019 according to the deployment of the State Council, which is the 15th consecutive year to raise the basic pension level of enterprise retirees. The overall increase rate this year is 5%, and it is estimated that about 100 million enterprise retirees will benefit.

　　The central government adjusted 600 billion yuan to solve the problem of regional distribution

　　Judging from the balance of the fund, there is also an obvious "inequality between the rich and the poor" in various places. Heilongjiang, Liaoning, Hebei, Jilin, Inner Mongolia, Hubei, and Qinghai have already experienced the situation that the current income cannot meet the expenditure. In 2016, the endowment insurance for enterprise employees in Heilongjiang Province even had a "debt" of 23.2 billion yuan. The endowment insurance funds in these provinces are already facing deficits. Now, isn’t it "forced" to lower the rates? Regarding this issue, You Jun said that this is a structural problem of the old-age insurance system. In 2018, the income of China’s enterprise employee pension insurance fund was 3.7 trillion yuan, the expenditure was 3.2 trillion yuan, and the accumulated balance was about 4.8 trillion yuan. However, structural problems do exist. Guangdong’s current income far exceeds its expenditure, with a current balance of nearly 170 billion yuan. However, the fund income in some areas is far lower than the expenditure, including Heilongjiang Province. This is mainly due to the rapid economic development in Guangdong Province, the large number of enterprises, and the absorption of more labor. The ratio of employees who pay insurance contributions to pensioners is 9 to 1. In Heilongjiang Province, because of the heavy burden of the old industrial base, there are many retirees, and the dependency ratio is 1.3 to 1, that is, 1.3 people support one person, so the burden of endowment insurance is naturally heavy, which leads to the fund’s income failing to meet its expenses.

　　"We also considered this time when we reduced the fees. Although individual provinces can’t make ends meet when the rate is 20%, if we don’t reduce the rate, the payment burden of enterprises will be difficult to come down, and the operating costs will be high, which will not attract enterprise investment and absorb more labor. The problem of dependency ratio will never be solved, and it is difficult to escape such a vicious circle. This time, we hope that the local endowment insurance fund will be reduced to 16% regardless of whether the income exceeds the expenditure or the expenditure exceeds the income, which is conducive to the formation of a level playing field. Of course, the specific proportion is still determined by the provinces, which is consistent with the main responsibility of the provincial government to ensure the issuance of pensions. We will intensify the central adjustment of funds. In the second half of last year, the adjustment system started, and the adjustment ratio was 3%. The total amount of funds adjusted reached more than 240 billion yuan, and developed regions or places with fund balances provided about 61 billion yuan to support difficult areas. This year, our adjustment ratio will reach 3.5%. It is estimated that the annual adjustment scale will be more than 600 billion yuan, and the actual support for difficult areas will be about 160 billion yuan, which can greatly help these areas solve the problem of pension payment. " You jun said.

　　Our reporter Dai Lili

Central enterprises have increased their investment and accelerated the construction of 1400 major projects.

　　In 2022, the transcripts of the economic operation of central enterprises were released on the 17th. In the new year, how will the central enterprises develop in by going up one flight of stairs and help stabilize the macro-economic market?

　　The reporter of the Economic Information Daily learned from the press conference held by the State Council Office on the same day that in 2023, central enterprises will strengthen measures to stabilize growth and investment, accelerate the construction progress of 1,400 major investment projects determined by the "14 th Five-Year Plan" of central enterprises, and focus on infrastructure construction and strengthening the chain of industrial chain to increase investment. At the same time, we will further promote the optimization and structural adjustment of the state-owned economy and actively promote the integration of resources in the fields of inspection and testing, medical health, equipment manufacturing, mineral resources, coal and electricity.

　　Last year, the scale benefits of central enterprises grew steadily.

　　Steady growth rate, excellent quality, great contribution and strong guarantee — — Peng Huagang, secretary-general and spokesman of the State Council State-owned Assets Supervision and Administration Commission, described the operating characteristics of central enterprises in 2022 at the press conference.

　　The data shows that in 2022, the central enterprises realized a cumulative operating income of 39.4 trillion yuan, up 8.3% year-on-year, and realized a total profit of 2.55 trillion yuan and a net profit of 1.9 trillion yuan, up 5.5% and 5% respectively. The total profits of seven central enterprises exceeded 100 billion yuan, and the total profits of four central enterprises exceeded 50 billion yuan.

　　In addition to the steady growth of overall benefits, operating efficiency has also improved steadily. In 2022, the per capita labor productivity of central enterprises was 763,000 yuan, an increase of 8.7% year-on-year; R&D investment increased by 9.8% year-on-year, and the intensity of R&D investment increased year-on-year; At the end of December 2022, the asset-liability ratio of central enterprises was 64.8%.

　　According to the deployment, in 2023, central enterprises should give more prominence to the primary task of high-quality development, solidly promote quality improvement, efficiency improvement and steady growth, ensure that the growth rate of total profits is higher than the national GDP growth rate, and strive to achieve better performance.

　　While realizing their steady development, central enterprises will also promote and support the coordinated development of small and medium-sized enterprises. Statistics show that in 2022, central enterprises reduced or exempted rents by 17.44 billion yuan, benefiting 214,000 tenants, and communication enterprises reduced the broadband and private line fees of SMEs by more than 10%, and accumulated more than 20 billion yuan in benefits to the society through measures such as rent reduction and fee reduction.

　　According to reports, in 2023, the State-owned Assets Supervision and Administration Commission (SASAC) will rely on the modern industrial chain chain long action plan to implement a number of projects to promote the development of small and medium-sized enterprises in the industrial chain and create a mutually beneficial and win-win ecology in the industrial chain, and carry out the joint chain action of central enterprises’ industrial chain financing and development. Through the reform of mixed ownership, we will promote the mutual integration and common development of state-owned enterprises and private enterprises.

　　Expanding investment and speeding up the construction of major projects

　　Expanding investment is one of the important starting points for steady growth. The Central Economic Work Conference pointed out that in 2023, efforts should be made to expand domestic demand, and government investment and policy incentives should be used to effectively promote the investment of the whole society, accelerate the implementation of major projects in the 14 th Five-Year Plan and strengthen inter-regional infrastructure connectivity.

　　The data shows that from January to November, 2022, central enterprises increased investment in energy, electricity and basic security industries, and completed a total investment of 3.6 trillion yuan in fixed assets (including real estate investment), a year-on-year increase of 5.6%. In 2022, the investment in strategic emerging industries of central enterprises remained at a high level, accounting for more than 20% of the total investment scale, and the proportion was increasing year by year. New energy vehicles, communication electronics manufacturing and other fields maintained double-digit growth.

　　In the next step, the State-owned Assets Supervision and Administration Commission (SASAC) will effectively strengthen measures to stabilize growth and investment, strengthen planning traction and dynamic monitoring, promote enterprises to give priority to the implementation of 102 major projects involving the 14th Five-Year Plan, and accelerate the construction progress of 1,400 major investment projects identified in the 14th Five-Year Plan of central enterprises, including the second phase of China Offshore Oil No.1 Deep Sea Project, the Fangchenggang Nuclear Power Project invested by the State, and the participation of many grid power enterprises in scenic base projects, so as to form more physical workload.

　　At the same time, central enterprises will also focus on infrastructure construction, increase investment in cloud computing, broadband basic network, 5G/6G, national integrated big data center system, industrial Internet, satellite Internet and other fields, and accelerate the "east counting and west computing" project to promote the upgrading of information infrastructure. Actively promote the construction of key water conservancy projects, comprehensive three-dimensional transportation networks, important energy bases and other projects, and encourage participation in logistics networks and rural agricultural infrastructure construction.

　　Strengthening the chain of the industrial chain is also the focus of steady growth and steady investment. "We should focus on high-end equipment, next-generation information technology, new materials and other fields, vigorously develop forward-looking strategic emerging industries, form a number of key projects to strengthen the chain of industrial chains, enhance the stamina of investment growth, and accelerate the formation of new economic growth points." Peng Huagang said.

　　Specialized integration in five major fields has been accelerated.

　　To achieve high-quality development, it is necessary to further promote the layout optimization and structural adjustment of the state-owned economy, and strategic reorganization and professional integration are important measures.

　　"In recent years, especially last year, the reorganization and integration of central enterprises has been continuous, with frequent achievements, great strength, new models and good results, which can be said to be unprecedented." Peng Huagang said.

　　This can be seen from the centralized signing of 25 groups of specialized integration projects of 37 central enterprises in two batches in 2022. For example, China National Grain Storage Group and COFCO have carried out equity cooperation, and through the establishment of two specialized joint ventures, the grain storage business and oil processing business of the two enterprises have been managed and operated separately, and the macro-control ability of grain reserve services has been further improved.

　　Peng Huagang believes that promoting professional integration is conducive to effectively solving the problems of homogenization competition and redundant construction among central enterprises, and creating an advantageous enterprise with more focused main business, clearer business structure and more prominent core competence. "In the coming period, we will take ‘ Advance, retreat, consolidation and integration ’ In order to focus on it, we will strengthen the coordinated promotion of key demonstration projects and continuously increase the intensity of professional integration. "

　　Specifically, "entering" means aiming at high level and orientation, supporting and promoting the cooperation of state-owned capital, and promoting solid chain, complementary chain, strong chain and plastic chain. "Retreat" means to continuously promote the withdrawal of inefficient and ineffective assets and non-main and non-dominant businesses, do a good job in the integration of industries with overcapacity, and promote industrial adjustment and upgrading. "Consolidation" means actively promoting the integration of resources in the fields of inspection and testing, medical health, equipment manufacturing, mineral resources, coal and electricity, and avoiding repeated investment and homogenization competition. "Combination" means supporting central enterprises to strengthen the deep integration of internal resources in accordance with the market-oriented and rule-of-law methods and form a strong joint force.

Live broadcast and short video help spread China’s cultural innovation.

　　The 2022 Beijing Winter Olympics is a grand event attracting international attention. The hosting of this world-class event is an important event in the rise of China, and it is also an important platform for China to shape its national image and build its global discourse power. And the Winter Olympics and the traditional festivals in China — — The meeting of the Spring Festival represents the collision between the Olympic spirit and the traditional culture of China, and it is an excellent opportunity to tell the story of China and show the culture of China. Ice and snow competitions and winter festivals have been rooted in the lives of Chinese children in various ways since ancient times. During the Spring Festival, CGTN, together with the Chinese-foreign Cultural Exchange Center of the Ministry of Culture and Tourism and Tencent WeChat, jointly launched a series of live broadcasts and short videos of "Ice and Snow China" to convey China’s ice and snow spirit from an international perspective, vividly show China’s interesting traditional ice and snow sports and folk culture to the world, and add color to the upcoming Winter Olympics.

　　Taking ice and snow competition and winter folk customs as the main reference, the program selected three locations with regional characteristics, such as Altay in Xinjiang, Changbai Mountain in Jilin and Shahu Lake in Ningxia, as shooting locations, and added multi-dimensional "ice and snow expression" to the program content based on different angles, different national characteristics and different winter themes. It is worth mentioning that, in form, the series of "Ice and Snow China" adopted the multi-media communication means of Chinese journalists’ hosting, foreign video creators’ experience, live broadcast+short video+topic interaction, and was launched on WeChat video number and several overseas communication platforms. This undoubtedly shows the new opportunities brought by new technologies and new media for external communication under the trend of global social media videoization.

　　Transformation form: live broadcast+short video to enhance the effect of external communication.

　　Compared with words, the visual symbolization of content production and communication can convey the content and meaning more vividly, eliminating the complicated process of "encoding and decoding" and the problem of information access, thus reducing the cultural discount in the middle of communication and reducing the communication error. The traditional presentation methods of video content in China are mostly documentaries and promotional videos, which are difficult to attract the attention of foreign audiences for a long time. Moreover, such works are mainly disseminated through the official publicity platform, and most of them adopt positive publicity and guidance, which makes it difficult for local people to gain a sense of participation and interaction. The emergence of new media forms such as short video and live broadcast has innovated the form of China’s external communication and promoted the improvement of communication effect.

　　During the Spring Festival, "Ice and Snow China" launched three long-term live broadcasts on the WeChat video number, showing different winter folk customs and ice and snow competitions in different cities through the introduction and experience of the host, foreign guests and local guests. As a real-time and interactive mode of communication, webcasting can show the real scenes of various places more comprehensively, vividly and realistically than traditional graphic forms, thus breaking away from geographical restrictions and enhancing the audience’s sense of presence. Through the live shooting of Jilin, Xinjiang, Ningxia and other ice and snow resorts, the visual symbols of China’s ice and snow culture are conveyed to the audience, and the unique image of China is truly, stereoscopically and comprehensively constructed. The experience link and food tasting link set in each program fully mobilized the audience’s vision and hearing, so that the audience could quickly enter the scene where the live broadcast was held, feel the local environment more from the main point of view, and then deeply understand China’s traditional culture and ice and snow sports.

　　At present, "mobility" has become one of the survival characteristics of users, from "flowing" in real scenes to temporarily receiving information in video platforms, and then quickly pulling away because of changes in real life scenes. At present, people’s attention is limited, and they are more inclined to "fast food" consumption than to contact complicated and abstruse information. The characteristics of short video "short, flat and fast" provide a new choice for the audience to accept information. After the 120-minute live broadcast, Snow China selected the highlights of each live broadcast, edited it into a short video version with Chinese and English subtitles, and launched it on WeChat video number and overseas platforms. The short video reproduces the core content of the long live broadcast in fragments, which is more in line with the current user’s video consumption habits and is convenient for users to digest video content.

　　Whether watching the live broadcast or enjoying the short video, the audience can interact and provide feedback through the real-time comments in the live broadcast or the comment function in the platform, and quickly establish an emotional connection with the video creator, which greatly mobilizes the user’s sense of participation and enthusiasm.

　　Enrich the main body: gather the power of folk communication and promote the publicity of the whole people.

　　The traditional subjects of external communication are authoritative government agencies and official media, which are too macro, single, distant and lack of pertinence, so it is difficult to break through cultural barriers. Therefore, in the external communication, folk power can not be ignored. The platform of WeChat video number enables ordinary people to participate in the creation of content, starting from more elements and rich angles, and spreading the cognition and experience different from the official Winter Olympics. At the same time, the new media technology has also built a platform for people from all over the world to interact and promote the dialogue between the public at home and abroad in an equal manner.

　　On the one hand, there are huge creator resources in the WeChat video platform. Through the integration and coordination of resources, users from different industries, nationalities and backgrounds can participate in the process of external communication. For example, in this live broadcast of Snow China, in addition to CGTN reporters, foreign videographers, local guides and ice sports enthusiasts also participated in the recording. From the perspective of foreigners, foreign guests experience China’s multi-local, multi-type and multi-ethnic winter folk customs and ice and snow sports, and share their true feelings. Foreigners in China decode Chinese culture with the language and thinking mode understood by overseas audiences, which weakens the cultural barrier caused by cultural background differences and values differences, and the information they convey is more likely to be trusted and accepted by foreign people. However, the content described by guides in Ningxia and Xinjiang has a more microscopic perspective, which is vivid and close to the official words, making it difficult for foreign audiences to resist when receiving information.

　　On the other hand, short video and live broadcast, as a relatively "friendly" media form, weaken the requirements for shooting technology, picture quality and editing methods. Users can produce works with the help of smart devices and the editing tools that come with the platform. Video number has lowered the threshold for users to participate, shifted the focus to the expression of personality and emotions, and widely stimulated the public’s enthusiasm for participation.

　　Deeply cultivate content: adapt to the characteristics of media and find common feelings.

　　Short video and live broadcast users mostly regard leisure and entertainment as their main use demand. Therefore, compared with serious hard news, interesting and story-telling soft news is more easily accepted by such users, which coincides with the concept of external communication. "Storytelling" is the main idea of China in Snow and Ice. For example, the live broadcast of Shahu Lake in Ningxia takes "breaking the ice" as the main line, from talking with Ningxia people on the icebreaker, to experiencing the icebreaking of Shahu Lake, to completing the "breaking the ice", stepping on Shahu Lake to experience the cricket competition on ice, and finally taking a cruise on Shahu Lake to taste Ningxia cuisine, forming a complete narrative chain with story, plot and logic, showing a three-dimensional and vivid image of China from tourism, sports, culture and diet.

　　In international communication, finding emotional commonalities is often better than appeal to reason’s. Short videos are short in duration, concise in narrative and large in presentation, which has advantages in emotional transmission. "Snow China" follows the principle of "the greatest common denominator" of global culture, and takes the public symbol "sports" as the entry point, which can resonate with overseas audiences and fit the tonality of the communication platform. In terms of communication content, Snow China combines the short video and live broadcast with human nature, with the theme of "Winter’s Love", "Winter’s Source" and "Winter’s Warmth" as the live broadcast, starting from the micro level, focusing on Chinese’s sports spirit and attitude towards life, and planning the communication content from the common meaning level of human beings, changing the introduction of the Beijing Winter Olympics itself into a review of the history of ice and snow sports in China, weakening the propaganda color in the communication content.

　　Expand channels: based on new media platforms, enhance communication influence.

　　As the communication platform of the series of "Snow China", WeChat video number provides a new position for the dissemination of related content. As a popular instant messaging software all over the world, WeChat has now formed a stable user base of over 1.2 billion. The low entry barrier of video content makes more users around the world become potential viewers of WeChat video number, which expands the channels for China culture to spread to the outside world and helps the media to gain greater autonomy and freedom in communication. The content distribution mechanism of WeChat video number platform makes high-quality content have the opportunity to reach the "recommendation" module of every WeChat user, thus expanding the audience. Some time ago, the Westlife Video Concert was watched by more than 27 million people. The Van Gogh Museum in the Netherlands once led tens of thousands of China audiences to appreciate the masterpieces of post-impressionist masters through live video. These cases can prove that WeChat video number, relying on the powerful content resources and huge user groups of WeChat, has outstanding advantages in realizing extensive connection and full coverage of content dissemination, and is a high-quality medium for cultural exchanges between China and the West.

　　In addition, a major feature of WeChat video number is that it is embedded in WeChat, developed around WeChat relationship chain, and has natural social attributes. On the one hand, users can achieve "acquaintance communication" by sharing content with friends and friends. On the other hand, users can see the content praised by their friends in the "Friends" module in the WeChat video number, and even the videos that have been published for a long time will get attention again because of this private domain push mechanism. This allows high-quality video content to be repeatedly exposed in a longer time span, maintaining the long tail heat and forming "fission propagation".

　　The attempt of "Snow China" opens the link between public domain traffic and private domain traffic, expands the communication channels, promotes the innovation of communication content and form, and provides a brand-new idea for the media to spread abroad. Nowadays, short videos and live broadcasts are gradually becoming important carriers of external communication. The media should actively pay attention to and adapt to the development of new technologies, and make innovations and adjustments in content according to the characteristics of different media forms and platforms, so as to truly, stereoscopically and comprehensively display and spread China’s traditional culture and help enhance the influence of Chinese culture. (Zhou Min Song Jing)

Kunming Wuling Binguo is offering a discount of 14,300 yuan! There are plenty of cars.

[car home Kunming Preferential Promotion Channel] Good news keeps coming, attention of Wuling fans in Kunming! This popular small electric car is launching surprising promotions. At present, Wuling Binguo in Kunming market is attracting consumers with the highest discount of up to 14,300 yuan, and the starting price has been as low as 45,500 yuan, which undoubtedly brings more choices for consumers to buy cars. Friends who want to seize this opportunity to buy a car, don’t miss it. Click the "Check Car Price" button in the quotation form and act immediately to get better car purchase discounts!

昆明五菱缤果火热促销，优惠1.43万！现车充足

As a small electric vehicle, Wuling Binguo has a unique and fashionable design. The front face adopts simple lines, and the exquisite grille design is like smiling lips, showing agility and vitality. The overall style tends to be rounded, and the streamlined body lines not only reduce the wind resistance, but also give it a lovely urban feeling, attracting the attention of young consumers. The design of Wuling Binguo fully embodies the combination of practicality and aesthetics, which makes people unforgettable.

昆明五菱缤果火热促销，优惠1.43万！现车充足

As an exquisite small car, Wuling Binguo has a smooth side line design, which shows the combination of fashion and dynamic. The body size is 3950mm*1708mm*1580mm, and the wheelbase is 2560 mm. This size allows vehicles to shuttle freely in the city, while taking into account the flexibility of space. The layout of the front wheel track of 1488mm and the rear wheel track of 1472mm ensures good stability and handling performance. Tyre size is 185/60 R15, with simple rim style, which is not only practical, but also adds a sense of exquisiteness. On the whole, the side design of Wuling Binguo not only meets the functional requirements, but also embodies its unique aesthetic concept.

昆明五菱缤果火热促销，优惠1.43万！现车充足

Wuling Binguo’s interior design is exquisite and practical, mainly in modern and simple style. The steering wheel is made of leather material with good texture, which provides a comfortable grip and supports manual adjustment up and down to meet the needs of drivers. The center is equipped with a 10.25-inch touch screen, which integrates multimedia system, navigation, telephone and air conditioning control functions, making it easy for drivers to operate. The seats in the car are made of imitation leather, and the front and rear adjustment, backrest adjustment and height adjustment are supported by the main and passenger seats to provide passengers with a comfortable riding experience. In addition, the car is equipped with USB and Type-C interfaces to provide convenient charging and data transmission interfaces for passengers’ electronic equipment. The rear seats support proportional reclining, which further expands the flexibility of the interior space.

昆明五菱缤果火热促销，优惠1.43万！现车充足

Wuling Binguo’s engine shows its strength with its excellent performance, and its maximum power reaches 50 kW, providing stable power output for vehicles. At the same time, its maximum torque is 125 Nm, which ensures smooth handling and high efficiency in daily driving. With its excellent data, this engine meets the dual requirements of power and fuel economy.

Generally speaking, car home car owners are full of praise for the appearance of Wuling Binguo, especially the cute front face design, and the two oval headlights seem to give the vehicle a unique personality charm. Such aesthetic details undoubtedly won the hearts of consumers, and also made Wuling Bingo stand out among many small cars and become an unforgettable choice. As the owner said, Wuling Binguo is not only practical, but also has a distinctive cuteness.

HarmonyOS Zhixing’s ＂fourth world＂ accelerates its ＂attack＂! Huawei has applied for trademark transfer, and Jianghuai has recruited several quality-related positions.

Every reporter Sun Lei, every editor Pei Jianru

With the listing of Enjoy World S9, the "Respect World" of cooperation between Huawei and Jianghuai has become the most important attraction of HarmonyOS Zhixing.

Recently, national business daily reporter learned from official website of China National Intellectual Property Administration Trademark Office that Huawei Technologies Co., Ltd., as the applicant, filed a registration application on July 23, 2024 for the brand logo trademark of "MAEXTRO" in the 12th category of international classification. As of August 1, 2024, the trademark is in the stage of "application for receipt" of trademark transfer.

Image source: China National Intellectual Property Administration Trademark Office official website

In addition, Huawei has submitted several trademark registration applications related to "MAEXTRO", which have different color schemes and font styles.

From the perspective of brand LOGO, the overall outline of Zunjie’s LOGO adopts hexagonal design, which is composed of multiple triangular elements, with the English "MAEXTRO" in the middle, and provides two styles of black background and white background, including flip color scheme. It is understood that the international classification of brand logos that Huawei applied for registration this time includes category 9 scientific instruments, category 12 means of transportation, and category 35 advertising sales.

It is reported that MAEXTRO is the "fourth world" of HarmonyOS Zhixing — — English name of Zunjie. On August 6th, at the launch conference of Enjoy World S9, Huawei announced Zunjie and its English naming. At this point, the names of the "four realms" of HarmonyOS Zhixing were all announced, namely, AITO Intellectual Realm, LUXEED Intellectual Realm, STELATO Enjoyment Realm and MAEXTRO Zun Realm.

Regarding the ownership of the brand and trademark of HarmonyOS Zhixing, Yu Chengdong, Chairman of Huawei BG and Chairman of BU, a smart car solution, said in the live broadcast: "According to relevant national laws and regulations, the brand holder and the manufacturer must be the same entity. Therefore, the brand should be owned by the manufacturer, and we have put four ‘ Boundary ’ The trademark was transferred to the automobile manufacturing enterprise. "

In addition to trademark transfer, some media reported that Jianghuai Automobile has accelerated the recruitment work related to Zunjie Project, including quality system experts, quality evaluation experts, product line quality experts, commissioning quality experts, vehicle quality experts, vehicle parts quality experts, quality supervision experts and quality improvement experts.

According to the above report, these positions are currently under the Quality Department of the Group with a team of 100 people, belonging to the first-level department of the Group, and will be upgraded to the Jianghuai Quality Management Center with a scale of 300 people in the later period. In this regard, the reporter called the recruitment department of Jianghuai Automobile, but it was not answered as of press time.

It is worth mentioning that the reporter found the above recruitment positions from the recruitment website of Jianghuai Automobile. Judging from the job requirements, quality-related positions need to have more than 8 years of relevant work experience in system audit or process audit of high-end passenger car brands.

Image source: Jianghuai Automobile official website　

According to the previously announced information, Zunjie brand models will enter the MPV market, and related models will be produced through JAC X6 platform, with an estimated annual production capacity of 35,000 vehicles.

"The products that [Huawei] cooperates with Jianghuai Automobile will far surpass those of Maibakh and Rolls-Royce Phantom, and will be more luxurious, higher-end and more enjoyable than them. The model that (Huawei) cooperates with Jianghuai Automobile is positioned at the ultra-high end, and the pricing will be one million yuan. " Yu Chengdong had previously said.

Xiang Xingchu, Party Secretary, Chairman and General Manager of Anhui Jianghuai Automobile Group Holding Co., Ltd. revealed at the 14th China Automobile Forum this year that the first product of Jianghuai Automobile and Huawei has entered the vehicle verification stage, and it is planned to go offline this year and go public in the first half of next year.

"The construction of the factory is basically completed, with a planned annual output of 200,000 vehicles. In the future, it will support the production of more cooperative models between Jianghuai and Huawei." Xiang Xingchu said that Jianghuai Automobile also cooperated with Huawei Terminal to jointly promote the ecological system construction in HarmonyOS, and Huawei’s digital energy cooperation super fast charging and other projects.

CICC believes that HarmonyOS Zhixing has lost another son, and the matrix of four brands, namely, asking, intellectual, enjoyment and respect, has gradually become clear, and it continues to be optimistic about Huawei+Empowerment. In addition, based on electric intelligent technology, Huawei BU technology joint venture company is about to land, which is expected to empower head car companies more widely, especially to help transform traditional head independent brands. It is recommended to pay attention to the industrial chain targets of key cooperative car companies and core models.

Cover Image Source: Every photo by reporter Kong Zesi (data map)

How to understand the sharp rise of soda ash price？ What factors will affect this upward trend？

Recently, the marked increase in the market price of soda ash has aroused widespread concern. Soda soda, as an important chemical raw material, is widely used in glass manufacturing, detergent production and other industries, and its price fluctuation has a far-reaching impact on related industrial chains.

First of all, the relationship between supply and demand is one of the core factors affecting the price of soda ash. In recent years, with the recovery of the global economy, especially the increasing demand in the construction and automobile industries, the demand for soda ash in the glass manufacturing industry has greatly increased. At the same time, the production of soda ash is affected by the environmental protection policy, and some production capacity is limited, resulting in tight supply. This imbalance between supply and demand directly promoted the price increase of soda ash.

Secondly, the increase of raw material cost is also an important reason for the price increase of soda ash. The main raw materials for soda ash production include limestone and salt, and the price fluctuation of these raw materials will directly affect the production cost of soda ash. In recent years, due to the scarcity of mineral resources and the rising cost of mining, the price of raw materials has continued to rise, which has pushed up the market price of soda ash.

In addition, the changes in the international market have also had an important impact on the price of soda ash. The uncertainty of global trade environment, such as the adjustment of tariff policy and the increase of trade barriers, may lead to changes in the supply-demand relationship in the international soda ash market. For example, export restrictions or increased import demand in some countries will have a chain reaction to the global price of soda ash.

In order to show these influencing factors more intuitively, the following table lists the main driving factors of soda ash price change in recent years and their influence degree:

influencing factor Influence degree relation between supply and demand tall Raw material cost middle Changes in international market middle Environmental policy low

Although the environmental protection policy limits the production capacity of soda ash to a certain extent, its impact on the price is relatively small. In contrast, the relationship between supply and demand and the change of raw material cost have a more significant impact on the price of soda ash.

In the future, the price trend of soda ash will depend on the comprehensive effect of many factors. For example, if the global economy continues to recover, the demand for glass manufacturing will remain strong, thus supporting the price of soda ash. However, if the price of raw materials fluctuates greatly, or the international trade environment changes greatly, the price of soda ash may also be adjusted accordingly.

In a word, the rise of soda ash price is the result of many factors. Understanding these factors and their relationship is of great reference value for predicting the future trend of soda ash price and formulating corresponding risk management strategies.

(Editor: Guo Jiandong)

[Disclaimer] This article only represents the author’s own views and has nothing to do with Hexun. Hexun.com is neutral about the statements and opinions in this article, and does not provide any express or implied guarantee for the accuracy, reliability or completeness of the contents. Readers are requested for reference only, and please take full responsibility. Email: news_center@staff.hexun.com.

A shares continue to slump, but these stocks hit a new high! What are the commonalities？

Recently, a number of stocks, such as Changjiang Power, Nanjing-Shanghai Expressway and China CNOOC, have set a record high in stumbling.

Even a slow bull stock like Changjiang Power, which has been hitting new highs for 20 years, has recorded a monthly decline of more than 5% for five times in the past three years. If investors lack a pre-judgment on the degree of bumps on the road to investment, then a bad investment experience is likely to wash investors out.

In fact, investment is counter-intuitive. In the bottom area of the stock market, Mr. Market is cold and depressed, and the already cheap stock price will be further cheaper. The rise seems to be in the foreseeable future, and investors can’t help but leave the market to wait and see, but this is precisely the sowing area, just like investors who have been long in blue chips in 2016 and 2018, they have won generous market rewards in the following years; In the top area of the stock market where everyone is hypnotized by the stock price, when investors revel and everyone seems to have a bumper harvest, the stock market just enters the high-risk and low-return range, just like investors who entered the market in 2007 and the first half of 2015, which is an important reason for investors who entered the market in early 2021 to Lacrimosa in the past three years.

What investment should pursue is to earn money that can outperform inflation in the long run, rather than a good investment experience. Even if the Dow Jones index has achieved an annualized rate of return of 11% in the past 70 years, investors will not have a good experience, because the retracement of more than 5% takes up most of the time, and people are either regretting why the last high point was not sold or worrying about when the next high point will come.

Successful investment can’t empathize with the market, especially in extremely pessimistic moments, because only in such moments, the downside risks are limited and the upside benefits are considerable. As David Swenson, the late chief investment officer of Yale University, said, holding uncomfortably different positions is painful until the final victory comes.

Stumbling to a new high

Changjiang Electric Power reached a record high on December 28th, 2023. Since November 18th, 2003, Changjiang Power has increased nearly 20 times in the past 20 years, which is a typical slow bull stock, but the fluctuation range of Changjiang Power is enough to scare off investors who follow suit.

Since 2021, Yangtze Power has increased by nearly 40% in three years, far outperforming the broader market. However, in the past three years, the stock price retreated more than 10% three times, and the retreat rate exceeded 12.7% from March to May in 2021; From October to November 2021, the withdrawal rate exceeded 13%; From July to November 2022, it retreated by nearly 20%.

In the past three years, the number of days that Changjiang Power rose was 344 trading days, and the number of days that it fell was 353 trading days. From a psychological point of view, the pain effect brought by the decline is three times that of the happiness effect brought by the rise. Therefore, although Yangtze Power has increased by 40% in the past three years, if the stock price is frequently checked, investors feel far more pain than happiness.

Nanjing-Shanghai Expressway hit a record high last month. Since its listing in 2001, it has increased by 5.27 times, with an annualized income of 8.3%. In the past three years, Nanjing-Shanghai Expressway has increased by 30%, and the biggest retracement of the stock in the past three years is 25%. As a public utility stock, the fundamentals of Nanjing-Shanghai Expressway are relatively transparent and stable, the dividend yield is clear and relatively predictable, and the intrinsic value is relatively stable, but the stock will also encounter emotional selling during the market downturn. However, in the long run, the stock price will eventually be close to the company’s fundamentals.

Xingqi Ophthalmology hit a record high last month. Since its listing on December 8, 2016, the stock has risen 50 times. The stock has also increased by 174% in the past three years, but the biggest retracement is as high as 59%. In June 2022, the stock peaked at 174.81 yuan, but it fell to 83.47 yuan in October 2022.

Kweichow Moutai, a long bull stock, has increased eight times since 2016, but it has happened three times when it retreated more than 30%. In June 2008, Kweichow Moutai once reached 803 yuan, but its share price fell all the way, and the decline accelerated in October. In November 2018, it once dropped to a low of 509 yuan, with the largest retracement reaching 37%. In February, 2021, Kweichow Moutai once reached 2627 yuan, and in August, 2021, it reached 1525 yuan, with a retracement rate of 42%. During the period from June to October 2022, the maximum withdrawal was 37%.

Volatility is the truth of the stock market.

Because greed and fear dominate the market periodically, the stock market is always accompanied by quite violent fluctuations. When the market is pessimistic, the corresponding price-earnings ratio may fall in the range of 8-9 times, and when the market is optimistic, the corresponding price-earnings ratio will be more than 25 times. Even if the fundamentals of listed companies are steadily rising, the fluctuation of valuation will lead to the share price being easily halved.

Yao Zhang, a stock price investor, once said: "Fluctuation is the nature of the market. How can there be no fluctuation among thousands of various participants? It is the fluctuation that creates a source of profit, allowing various types of investors to find reasons for buying and selling, and allowing value investors to find value-for-money prices."

Duan Yongping almost holds a single stock in the US stock market-Apple, but he thinks that no one may be more happy than him to see Apple’s share price fall. "Investors can only imagine the company as a non-listed company, and they will understand without stock price changes. However, most people can’t do this. Objectively speaking, if there is no way to treat a company as a non-listed company, most investors will eventually lose money. " Duan Yongping once said. In the past 10 years, Duan Yongping’s holding of Apple has earned about 10 times the income, and he has also experienced four plunge in the past 10 years.

Investing in the stock market requires a certain tolerance. Investors need to anticipate stock price fluctuations, even violent fluctuations, as John Berg, founder of Pioneer Fund, said, "If you can’t stand the heat, you should stay away from the kitchen".

This is a real case told by Morgan Hauzer, a famous Wall Street investor, in The Psychology of Money. He cited the example of Dow Jones index and gave a mathematical explanation for this phenomenon.

Image source: Morgan Hauzer, Money Psychology

The gray interval in the picture represents the stage when the current price is at least 5% lower than the previous historical high, and this gray stage is the time when you will be unhappy-because during this "gray" time, you are either regretting why the last high point was not sold or worrying about when the next high point will come. There is no need for accurate statistics at all. We can see with the naked eye that the gray "unhappy" period has occupied most of the time in these 70 years.

Great investors are made, and many investors who have stood the test of time have suffered a lot of market pressure. Charles Munger once said, "Our generation, this batch of people who make value investments, is not made. Stick to it, you don’t even need to be smart. "

Investment needs to distinguish the stock price from the intrinsic value of the stock. Investment needs to be "insensitive". If you keep an eye on the short-term stock price, investors will not only have a bad experience, but also be fooled by the market, buy high and sell low, and run in the wrong direction; If we regard investment as "the stock price is what you pay, and the value is what you get", we should pay close attention to the relatively stable intrinsic value, ignore the jumping stock price, or use the irrational market to buy low and sell high, so that investors can earn long-term money and avoid resonating with market sentiment to form good investment results.

(The original title is "A shares continue to slump, but these stocks have reached a new high! What are the commonalities? Great investments are made! 》）

Denza Z9GT listed, limited time 33.48-41 4,800

On September 20, officially listed, the limited price range of the new car 33.48-41 4,800 yuan, according to the power form and configuration of different new cars a total of 5 models for users to choose from. Vehicle positioning in large cars, there are pure electric and plug-in hybrid two power systems…… At this conference Z9GT also launched the first version of the model, limited to 2010 units, only support pre-sale users to buy online.

Looking at the new car, the Tengshi Z9GT is equipped with Easy Tripartite, which consists of four core technologies: three-motor independent drive technology, rear-wheel dual-motor independent steering technology, VMC vehicle motion control technology, and all-series CTB battery body integration technology. Based on the Easy Tripartite technology platform, the Tengshi Z9GT has five functions: extreme steering, compass U-turn, easy three-way parking, low-attachment road stabilization system, and intelligent crab travel.

At the level of intelligent driving, Tengshi has developed its own on-board computing platform, established a perception laboratory, and established an end-to-end large model team and AI supercomputing center. Tengshi Z9GT will be the first to use BAS 3.0 + superhuman driving assistance, which can realize full-scene driving assistance such as high-speed navigation without pictures, city navigation without pictures, automatic parking, and valet parking.

In the chip, the Z9GT is equipped with BYD9000 custom chip, using 4nm process and Armv9 architecture, at the same time, the car 10 screen interconnection, any screen can be linked separately, multi-screen sharing, and has 32 million pixel central control camera.

In terms of smart cockpit, the Tengshi Z9GT is equipped with handcar interconnection, self-developed parking service platform, and lane-level navigation. For example, when leaving the parking lot, the payment code will appear on the mobile phone and the car at the same time. In addition, the Tengshi Z9GT also combines AI technology with functions such as smart Q & A, travel strategy, and AI painting workshop.

In terms of design, the appearance of the Tensi Z9GT was designed by Wolfgang Iger, the design director of BYD Group, using the elegant design language of the new design concept Elegance in Motio. The body proportions are slender, the body attitude is rearward, and the overall design elements are greater than 3 times the axle ratio and nearly 2 times the wheel height ratio.

The new car is equipped with a Tivale theater-level sound field, and the frequency response can be lower than 20 Hz. With Dolby Atmos, it brings a more three-dimensional and surround feeling. A large area of leather soft bags in the car is matched with solid wood accessories. The center console is equipped with dual 50W wireless super charging floating islands, as well as multi-theme ambient lights, Hi-Fi music headrests and other configurations to enhance convenience and practicality.

Thanks to the integrated technology of the entire CTB battery body, the Tengshi Z9GT has considerable interior space. The co-pilot is equipped with a zero-gravity floating seat, and the front and rear seats are equipped with ventilation, massage, and heating functions. In addition, the Tengshi Z9GT is also equipped with the Yunnian-A intelligent air body control system, which effectively buffers the roll and pitch of the body, realizes the dynamic adjustment of the body control, and cooperates with the preview function. It can also predict the road conditions in advance, and pre-adjust the vehicle shock absorber according to the road condition information. In addition, the Tengshi Z9GT is also equipped with dual intelligent heating and cooling dual refrigerators.

?In terms of body structure, the Z9GT adopts a multi-ring escape armor design to effectively disperse the collision energy. On the passive side, the whole system is equipped with 10 airbags as standard. Thanks to the easy three-party technology, the Z9GT’s low-attachment road stabilization system maximizes the stability of the vehicle when driving on ice, water, or folio roads. When driving at 140km/h, the tire is blown at high speed. The high-speed tire burst stability control allows the vehicle not to roll or deviate.

In terms of power, the Z9GT offers pure electric version and plug-in version models, using the "Easy Three-way" vehicle intelligent control platform, all equipped with the system. The total power of the pure electric model motor is 710 kW, the total power of the plug-in hybrid model motor is 640 kW, and the 2.0T turbocharged engine provides 207 horsepower (152 kW) with a maximum speed of 240km/h and 230km/h respectively. Among them, the plug-in hybrid model has a maximum battery life of 1101 km (201km pure electric battery life), and the pure electric four-wheel drive has a battery life of 630km.

Text/Yasuo