分类： gfthgyj

　　On Tuesday (May 14th) EDT, US stocks collectively closed up on Tuesday, with the Nasdaq hitting a new high. The market is waiting for the CPI data to be released in the United States tonight.

　　[US stock index]

　　In the news, Powell said overnight that the Fed’s next move is unlikely to be to raise interest rates, and it is more likely to maintain the policy interest rate at the current level. The Fed needs to be patient and wait for more evidence that high interest rates are curbing inflation and inflation continues to cool down, so it needs to keep interest rates at a high level for a longer period of time.

　　To a certain extent, Powell’s remarks were regarded as dovish by the market. Some commentators said that Powell once again hinted that the Fed might not cut interest rates at present, but denied that the interest rate hike had boosted US stocks. . Megan Horneman, chief investment officer of Verdence Capital Advisors, said that the market is a little overconfident, and they are used to Powell’s dovish remarks, but the longer inflation lasts, the greater the decline will be in the future.

　　In addition, the United States released the latest PPI data, and both the overall and core rose by 0.5% month-on-month, which was higher than market expectations. However, due to the downward adjustment of the data in March, the year-on-year increase of the overall PPI and core PPI was consistent with expectations. The market pays more attention to the CPI data tonight, so the performance of US stocks is limited.

　　American debt

　　The benchmark 10-year US bond yield dropped to 4.45%, while the 2-year US bond yield, which is most sensitive to the Fed’s policy interest rate, closed at 4.81%.

　　[Hot American stocks]

　　Among the popular US stocks, Microsoft rose 0.69%, Apple rose 0.62%, NVIDIA rose 1.06%, Google A rose 0.71%, Amazon rose 0.27%, Meta rose 0.82%, TSMC rose 3.77%, Tesla rose 3.29%, AMD rose 1.73% and Intel rose 1.77%.

　　It is worth mentioning that since Keith Gill, the "number one bull" who set off a retail war against Wall Street three years ago, returned to social media after three years and was suspected of making another bet, many retail investors rallied for the second consecutive day. Game stations and AMC cinemas have accumulated more than 100% in two days.

　　[global index]

　　In European stock markets, the FTSE 100 index rose slightly by 0.16% to 8428 points. The French CAC40 index rose slightly by 0.20% to 8226 points. Germany’s DAX index fell slightly by 0.14% to 18,716 points.

　　Major European stock indexes rose for the eighth consecutive day, the longest consecutive increase since November 2021. European stock markets have been rising all the way this year, with the Stoxx 600 index up nearly 9%, led by banks, media and technology stocks. Due to the low valuation and the improving economic situation, investors’ interest in European stocks has warmed up. Citigroup strategists said that investors significantly increased their bullish bets on European stock indexes last week.

　　In Asian stock markets, the Hang Seng Index fell slightly by 0.22% to 19,074 points. The index of state-owned enterprises fell slightly by 0.30% to 6741 points. The Nikkei 225 index rose 0.46% to 38,356 points.

　　[China index]

　　Overnight, Hang Seng Technology Index futures rose 0.50%, Nasdaq China Jinlong Index fell 0.21%, and FTSE China A50 Index fell 0.33%.

　　[China Stock Exchange]

　　In terms of popular Chinese stocks, Tencent Holdings (Hong Kong stocks) rose by 0.95%, Alibaba fell by 6.02%, Pinduoduo fell by 1.30%, Netease fell by 0.85%, Baidu fell by 2.12%, Ctrip rose by 1.46%, LI fell by 2.22%, Weilai rose by 6.93% and Xpeng Motors rose by 2.23%.

　　[foreign exchange commodities]

　　Because the PPI data of the United States in April exceeded expectations, the US dollar index once rushed to the intraday high of 105.47, and then retreated all the gains in the day and turned down, finally closing down 0.19% to 105.01.

　　Gold rebounded, with COMEX gold closing up 0.94% to $2,358 per ounce, aided by the fall in the yields of US dollars and US bonds and Powell’s continued interest rate hike. COMEX silver closed up 1.38% at $28.61 per ounce.

　　The market has intensified concerns that the Federal Reserve may continue to maintain high interest rates to fight inflation, and oil prices have adjusted back. WTI crude oil closed down 0.91% to 78.4 USD/barrel; Brent crude oil closed down 0.68% to $82.79/barrel.

　　[Highlights]

　　Powell: It is unlikely to raise interest rates in the next step. We need to wait for more evidence that inflation is cooling down.

　　Powell said that the Fed’s next move is unlikely to be to raise interest rates, and the Fed is more likely to maintain the policy interest rate at the current level. He predicted that inflation would go down, but the inflation data in the first quarter of this year reduced his confidence, which made the Fed unable to give whether or when it could lower interest rates. "New Fed News Agency" wrote that Federal Reserve Chairman Powell confirmed that the Fed plans to maintain interest rates at the highest level in more than 20 years, waiting for evidence that inflation will resume to slow down, and Powell kept a wait-and-see attitude towards inflation and interest rates.

　　Google launches a new version of search engine with generative AI function.

　　Google said on Tuesday that it will launch a new version of its search engine, including search results written by artificial intelligence. This is one of the most significant reforms since the establishment of this iconic Internet portal. Google began to use artificial intelligence to answer users’ questions last year, but users must first register the trial version of the product. Google said at its annual I/O Developers Conference that this new search engine with AI Overviews will be launched to American users this week, and will be launched to users in more countries in the next few months, covering more than 1 billion users before the end of this year. For this company, which has become synonymous with search, the biggest change of "Google Search" is that some responses to queries will now be more narrative, so that people don’t have to click on various links.

　　XAI, an artificial intelligence startup owned by Musk, is close to reaching a $10 billion server rental agreement with Oracle Bone Inscriptions.

　　XAI, an artificial intelligence startup owned by Musk, has been negotiating with Oracle Bone Inscriptions executives to spend $10 billion to rent a cloud server from Oracle Bone Inscriptions in the next few years. The deal will make xAI one of Oracle Bone Inscriptions’s biggest customers, as Musk tries to quickly catch up with competitors, who have spent billions of dollars on dedicated servers needed to train and run conversational artificial intelligence. The transaction scale of 10 billion is comparable to that of two leading artificial intelligence developers, OpenAI and Anthropic, with larger competitors than Oracle Bone Inscriptions.

　　Novo Nordisk will study whether its weight loss drugs can help reduce alcohol consumption.

　　Novo Nordisk is exploring whether its diet pills can help people reduce their drinking. It is reported that Novo Nordisk is planning to conduct a study, the main purpose of which is to measure the effect of experimental drugs on fibrosis in patients with liver disease, and the secondary goal is to observe whether experimental drugs can change the daily drinking amount of subjects. The mid-term trial is expected to start recruiting subjects this month.

　　Qiaoshui Q1 favors technology stocks most! Significantly increase the holdings of the seven US stock giants

　　Amazon is the largest newly-opened stock in Qiaoshui in the first quarter. The world’s largest hedge fund has more weight in holding technology stocks than any other sector, and its position weight in consumer stocks has dropped the most. The top two positions are still S&P ETF and emerging market ETF, but technology stocks quickly rank among the top six positions. After almost clearing positions last year, Apple was heavily increased, and Pinduoduo and Procter & Gamble were reduced for several consecutive quarters.

　　HHLR’s position in the first quarter: the first awkward position is still AMD in Pinduoduo Jiancang.

　　According to the latest 13F document disclosed by HHLR Advisors, a subsidiary of Gaochun, the concentration of the top ten awkwardness stocks in the first quarter was 84.57%, and Pinduoduo’s position increased by 16.62%, ranking first with a market value of 29.77%. Established 912,400 shares of AMD, making it the sixth largest heavyweight share with a market value of 3.58%, and reduced its holdings of Shell, Microsoft, Salesforce and DoorDash among the original ten positions, so DoorDash was squeezed out of the top ten. In addition, it reduced its holdings of Baidu, Alibaba and JD.COM.

　　New york copper futures are historically short-selling

　　New Zealand copper futures soared 5.5% in July, reaching $5.026/pound, just one step away from the all-time high of $5.0395 set in March 2022 in the early days of the Russian-Ukrainian conflict. Traders said that today’s New Zealand copper was forced to empty, causing copper cargo ships to be transshipped to the United States. It is expected that traders with long copper positions in July will make profits, or extend to further contracts in the future to take advantage of huge futures discounts.

The State Council on Supporting Shandong to Deepen the Transformation of New and Old Kinetic Energy

Opinions on promoting green, low-carbon and high-quality development

Guo Fa [2022] No.18

People’s governments of all provinces, autonomous regions and municipalities directly under the Central Government, ministries and commissions and institutions directly under the State Council:

Shandong is an important industrial base in China and the strategic fulcrum of economic development in the northern region. In order to support Shandong to explore the road of transformation and development on the basis of deepening the transformation of old and new kinetic energy, further enhance the vitality of regional development and accelerate the development of green, low-carbon and high-quality, the following opinions are put forward.

I. General requirements

(1) Guiding ideology.

Guided by the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, we will thoroughly implement the important guiding spirit of the Supreme Leader’s General Secretary on "being in the forefront and creating in an all-round way" in Shandong’s work, adhere to the general tone of striving for progress while maintaining stability, implement the new development concept completely, accurately and comprehensively, adhere to the people-centered development idea, unswervingly follow the modernization road of ecological priority and green development, and take deepening the transformation of old and new kinetic energy as the central task. Taking the formation of a green and low-carbon production and lifestyle as the main direction, taking reform and innovation as the fundamental driving force, we will make overall plans for development and safety, transform and upgrade traditional kinetic energy and cultivate and expand new kinetic energy simultaneously, strive to build a pioneering area for green, low-carbon and high-quality development, strive to be ahead in service and integration into the new development pattern, enhance innovation in economic and social development, and promote ecological protection and high-quality development in the Yellow River Basin, continuously improve people’s lives, promote common prosperity, and open up a new situation in building a strong socialist modernization province in the new era.

(2) Development orientation.

-Deepen the conversion of old and new kinetic energy.We will implement the strategy of innovation-driven development, adhere to the policy of changing cages for birds and changing phoenix into nirvana, build an important regional innovation highland and a source of scientific and technological innovation in China by relying on the comprehensive experimental zone for the conversion of old and new kinetic energy, cultivate a number of strategic emerging industrial clusters with important influence, and accelerate the exploration of the path model for the conversion of old and new kinetic energy.

-Promote green and low-carbon transformation and development.Implement a comprehensive conservation strategy, focus on achieving carbon neutrality in peak carbon dioxide emissions, adhere to the coordinated promotion of carbon reduction, pollution reduction, green expansion and growth, promote the transformation of heavy chemical industry, research and development and promotion of low-carbon technology, and innovation of green development mechanism, and accelerate the formation of industrial structure, production mode, lifestyle and spatial pattern that save resources and protect the environment.

-Promote the deep integration of industrialization and digitalization.Adhere to the road of new industrialization, promote industrial digitalization and digital industrialization in coordination, take the digitalization, networking and intelligent development of manufacturing industry as the traction, strengthen the breakthrough of underlying technology, gather massive data, enrich industrial application scenarios, innovate and integrate development models, promote the full chain of digital technology to empower the real economy, and promote the transformation from a large manufacturing province to a strong manufacturing province.

-In-depth implementation of the strategy of ecological protection and high-quality development in the Yellow River Basin.Give full play to the leading role of Shandong Peninsula urban agglomeration, deepen the great protection and governance of the Yellow River Basin in an all-round and multi-level way, and strengthen exploration and innovation in high-level protection of ecological environment, deep conservation and intensive utilization of water resources and coordinated promotion of high-quality economic development.

(3) development goals.

By 2027, Shandong will deepen the conversion of old and new kinetic energy to build a green, low-carbon and high-quality development pioneer area to achieve a major breakthrough and form a number of successful experiences that can be replicated and promoted. The digital transformation of industry has been comprehensively promoted, and new technologies, new industries, new formats and new models have become the main driving forces for economic development. The energy structure and industrial structure have been significantly optimized. Incremental energy consumption is mainly provided by non-fossil energy, and the energy efficiency level of key industries and enterprises is leading the country. The level of conservation and intensive utilization of water resources has been greatly improved, the total discharge of major pollutants has continued to decline, and the urban and rural living environment and the quality of life of residents have been significantly improved. Major breakthroughs have been made in the reform of key areas, substantial progress has been made in the reform of decentralization, integration of decentralization and management, and optimization of services, and the business environment has reached the national first-class level.

By 2035, Shandong has successfully crossed the conventional long-term barrier of changing the mode of economic development, optimizing the economic structure and transforming the driving force of growth, and strived to build a modern economic system. After the peak of carbon emissions, the system and mechanism of continuous transformation and upgrading of development kinetic energy and green low-carbon development have basically matured and finalized, and a strong socialist modernization province in the new era has been built.

Second, reduce carbon and improve quality simultaneously, and comprehensively transform and upgrade traditional industries

(4) Promote the green and high-end development of traditional pillar industries.Guided by energy conservation and carbon reduction and green transformation, we will implement industrial infrastructure reconstruction projects and quality improvement actions, support traditional advantageous industries to be refined and strong, and move toward the middle and high end of the industrial chain. Support Shandong to focus on chemical industry, non-ferrous metals, building materials, textiles, light industry and other industries, and formulate a transformation and upgrading plan with "one industry and one policy". Promote recycling transformation of industrial parks, and promote comprehensive utilization of waste, cascade utilization of energy and recycling of water resources.

(5) Accelerate the layout optimization and structural adjustment of heavy chemical industry.Adhere to high-end, green and intensive, promote the merger and reorganization of steel and petrochemical enterprises, and realize the concentration of production capacity in coastal parks. The realization of steel production capacity in Beijing-Tianjin-Hebei air pollution transmission channel cities should be retired, and the process flow optimization and product structure upgrading of important steel industrial bases should be promoted. We will further promote the renovation and upgrading of chemical parks, encourage enterprises to reduce oil and increase chemicals, extend the petrochemical industry chain, and improve the ability to support new chemical materials. Solidly promote the construction of Yulong Island refining and chemical integration project, strictly implement the capacity replacement index, and steadily promote the subsequent refining capacity integration.

(6) Resolutely curb the blind development of low-level projects with high energy consumption and high emissions.Focus on key energy-consuming industries, strengthen the guidance of environmental protection, quality, technology, energy conservation and safety standards, and fully implement inventory management, classified disposal and dynamic monitoring for high-energy and high-emission projects. New high-energy and high-emission projects strictly implement the reduction and substitution requirements such as production capacity, coal consumption, energy consumption, carbon emission and pollutant emission, and the energy efficiency level of main products is in line with the advanced national energy consumption limit standards and strives to reach the international advanced level; Actively and orderly carry out technological transformation of energy saving and carbon reduction for existing projects, and accelerate the elimination of backward production capacity.

Third, adhere to clean, low-carbon, safe and efficient, and optimize the energy and transportation structure

(seven) to promote the clean and efficient use of fossil energy.On the basis of ensuring the safe, reliable and stable supply of energy, strictly and reasonably control the growth of coal consumption, accelerate the implementation of the "three changes linkage" of energy-saving and carbon-reducing transformation, heating transformation and flexibility transformation of coal-fired generating units, and in principle, no new self-provided coal-fired generating units will be built. Greatly reduce the consumption of loose coal, promote "coal to gas" and "coal to electricity" according to local conditions, and promote the comprehensive utilization of industrial waste heat and pressure. Improve the exploration and development of oil and gas resources in Shengli Oilfield and Bohai Sea and the level of clean and low-carbon production, strengthen the integration of oil and gas development and new energy, and promote the construction of infrastructure such as the natural gas pipeline (Shandong section) on the eastern route of China and Russia and the coastal LNG receiving station.

(8) Promote the large-scale and high-proportion development of non-fossil energy.Support Shandong to vigorously develop renewable energy, build a 10-kilowatt offshore wind power base, build a large-scale wind power photovoltaic base by using saline-alkali beaches in northern Shandong and coal mining subsidence areas in southwestern Shandong, and explore the development model of distributed photovoltaic integration. On the premise of ensuring absolute safety, we will develop nuclear power in an orderly manner in Jiaodong Peninsula, promote the large-scale development of independent advanced nuclear power reactors, and expand the comprehensive utilization of heating and seawater desalination. Promote "green electricity into Shandong", support Shandong to strengthen cooperation with sending provinces, actively participate in the construction of large-scale wind power photovoltaic bases, speed up the construction of extra-high voltage transmission channels in Longdong to Shandong, and the proportion of renewable energy in new extra-high voltage transmission channels should not be less than 50% in principle. Build a smart energy system with coordinated interaction between source, grid, load and storage, promote the construction of pumped storage power stations and improve the application level of new energy storage.

(9) Optimize the layout and structure of transportation facilities.Promote the construction of Qingdao’s economic south to Zhengzhou and Xi’ an, speed up the construction of the Beijing-Shanghai high-speed rail auxiliary channel, and promote the resumption of navigation in the appropriate section of the Beijing-Hangzhou Canal north of the Yellow River. Promote Qingdao Port, Rizhao Port and Yantai Port to accelerate the construction of world-class seaports, strengthen cooperation and interaction with ports in coastal provinces such as Tianjin, Hebei and Jiangsu, and jointly build a world-class port group. Improve the multimodal transport system and promote the "revolving iron" and "revolving water" of bulk cargo transportation. Support Qingdao Port to expand the utilization of hydrogen energy, Rizhao Port to build a smart green demonstration port for bulk dry cargo, and build a medium-and long-distance green freight system based on electrified railways and energy-saving and environmentally-friendly ships.

Fourth, promote the empowerment of digital green culture and actively cultivate and develop emerging industries

(10) comprehensively promote the digital transformation of manufacturing industry.Focusing on petrochemical, high-end equipment, textiles, household appliances and other industries, we will vigorously improve the support of digital infrastructure, the centralized use of data resources and the ability to ensure information security, accelerate the deep integration of the whole process and all factors of the new generation of information technology and manufacturing, promote the strong chain of industries with distinctive advantages, and build world-class advanced manufacturing clusters such as smart household appliances, rail transit and power equipment. Cultivate an internationally influential industrial Internet platform, improve the level and application depth of logo analysis system, and actively develop new modes such as network collaborative manufacturing, personalized customization and intelligent management. Arrange a number of digital transformation promotion centers to cultivate "specialized and innovative" small and medium-sized enterprises and individual champion enterprises step by step.

(eleven) to cultivate and expand the digital industry.Build a "5G+ optical network" double gigabit high-speed network, and build a national-level Internet backbone direct connection point and Qingdao International Communication Service Import and Export Bureau. Vigorously enhance the competitiveness of digital advantage industries such as advanced computing, new intelligent terminals, ultra-high-definition video and network security, actively promote innovation breakthroughs in core basic industries such as optoelectronics and high-end software, and proactively lay out future industries such as networks, carbon-based semiconductors and brain like computing. Build national E-level supercomputing centers in Jinan and Qingdao, improve cloud computing capabilities, and improve national, provincial and marginal industrial Internet big data center systems.

(12) Vigorously develop emerging industrial clusters with marine characteristics.Facing the development of deep ocean resources, we will break through the key core technologies of high-end offshore equipment and build a world-leading offshore equipment base. Accelerate the development and application of new marine materials and extend the industrial chain of marine chemicals. Promote the innovation of marine biomedicine, implement the "blue seed" project of modern fishery, and build a national deep-sea gene bank. Create an offshore "energy island" integrating wind energy development, hydrogen energy utilization, seawater desalination and marine pasture construction. Build the National Marine Comprehensive Experimental Site (Weihai) and implement the smart ocean project.

(XIII) Actively develop green and low-carbon emerging industries.Support the layout of high-power offshore wind power, high-efficiency photovoltaic power generation, advanced nuclear power and other clean energy equipment and key parts manufacturing in Shandong. Implement the "Hydrogen into Ten Thousand Families" scientific and technological demonstration project, and build an innovative application ecology for the development of the whole chain of production, storage and transportation. Expand energy-saving and environmental protection equipment industries such as pollution control, solid waste resource utilization and environmental monitoring, accelerate the development of energy-saving and environmental protection service industries, and encourage the extension to the high end of the value chain.

(14) Implement cultural empowerment actions.Deeply explore the unique charm of Chinese excellent traditional culture and red culture, such as Confucian culture, Taishan culture, Yellow River culture, Canal culture, etc., build souls and empower products research and development, design and manufacturing, and cultural tourism development, and create a number of original logos and national tide brands with deep accumulation and distinctive characteristics. Vigorously develop creative design, network audio-visual, cultural exhibitions, digital publishing and other cultural industries, promote the integrated development of culture and tourism, and build a "friendly shandong" global tourism demonstration zone and an internationally renowned cultural tourism destination.

V. Implementing the strategy of innovation-driven development and accelerating the shaping of new development advantages.

(fifteen) to promote the construction of major innovation platforms.Give full play to the comprehensive advantages of Shandong’s abundant marine scientific and technological resources and good marine industry foundation, and build a national laboratory in the marine field with high quality. Support the steady reorganization of a number of national key laboratories in the fields of new generation information technology, new materials, high-end equipment, green mines, etc., and cultivate major innovation platforms such as the National Engineering Research Center in emerging industries such as industrial Internet, life and health, and virtual reality.

(sixteen) to strengthen the main position of enterprise innovation.Encourage enterprises, especially state-owned enterprises, to increase investment in R&D, and establish an R&D investment growth mechanism and R&D reserve system. Support leading enterprises in the industrial chain to jointly build industrial innovation centers with universities, research institutes and industrial enterprises, undertake major national science and technology projects, and organize and carry out major science and technology demonstration projects of "technical research+industrial application". Encourage large enterprises to share scientific and technological facilities, scientific research data and technical verification environment with small and medium-sized enterprises, and build an innovative ecology for the middle and lower reaches of the industrial chain and large, medium and small enterprises.

(seventeen) to stimulate talent innovation and creativity.Support Shandong to explore the establishment of a "through train" mechanism for top talents and implement "one person, one policy". Through the modes of career education, policy gathering and flexible talent introduction, we will gather a group of leading talents and young scientific and technological talents, and give them greater decision-making power and the right to use funds. Innovate the development mode of talent cultivation and vocational education in colleges and universities, and build a team of technical talents to meet the needs of industrial upgrading. We will implement the "horse racing system" and "unveiling the list" to tackle scientific and technological problems, implement the distribution policy oriented to increasing knowledge value, and give scientific researchers the ownership or long-term use right of scientific and technological achievements in their posts according to law.

Six, practice the concept of Lucid waters and lush mountains are invaluable assets, and continuously improve the quality of the ecological environment.

(eighteen) to strengthen the conservation and intensive use of water resources.Adhere to the water to determine the city, land, people and production, implement the strictest water resources protection and utilization system, and lay a solid battle for deep water saving and water control. Cultivate the water rights trading market, implement the national water-saving action, and improve the proportion of sewage resource utilization and the scale of seawater desalination. Carry out the "secondary suspended river" regulation in the lower reaches of the Yellow River, implement flood control works in the lower reaches of the Yellow River, rebuild the sluice of the Yellow River diversion project, promote the reinforcement of the sluice of the dangerous reservoir, strengthen the comprehensive management of the flood storage and detention areas in the Yellow River estuary and Dongping Lake, and ensure the long-term An Lan in the lower reaches of the Yellow River. Study and demonstrate the layout of engineering lines in Shandong Province of the East Route of South-to-North Water Transfer Project, and optimize the allocation of water resources.

(nineteen) improve the ecosystem function and carbon sink capacity.Adhere to the integrated protection and restoration of mountains, rivers, fields, lakes, grass and sand, build ecological corridors along the coastal zone, along the Yellow River, along the Grand Canal, and ecological barriers in the mountainous areas of Shandong and the hilly areas of eastern Shandong, and implement ecological protection and restoration projects in key areas. Further promote the establishment of the Yellow River Estuary National Park and comprehensively protect the wetland ecosystem in the Yellow River Delta. Strengthen the protection and restoration of coastal shelterbelts, estuaries, coastlines, bays, wetlands, islands, etc., implement the target control of natural shoreline retention rate, and explore the establishment of a coastal building retreat line system. Regularly carry out background investigation, carbon storage assessment and potential analysis of carbon sinks in forests, wetlands, oceans and soils.

(20) Continuously improve environmental quality.Fight the blue sky defense war, formulate a roadmap for air quality to reach the standard within a time limit, and promote fine particulate matter (PM)2.5) concentration continues to decline, effectively curbing ozone (Othree) concentration rise, eliminate heavy pollution weather. We will do a good job in defending the clear water, standardize the setting of sewage outlets into the river (sea), accelerate the relocation of high-water consumption and high-pollution enterprises within 1 km of the coastline of the main stream and main tributaries of the Yellow River, eliminate the inferior V water bodies in the state-controlled section, and strengthen pollution control along the east route of the South-to-North Water Transfer Project. We will do a good job in defending the pure land, strengthen the control and restoration of soil risks such as contaminated farmland and mining land, and ensure the safe use of land vacated by chemical enterprises in densely populated areas. Comprehensively investigate and resolutely prevent pollution projects from transferring to rural areas. We will continue to promote the rectification of the Blue Bay and the coastal protection and restoration project, adhere to the "one bay and one policy" to promote the comprehensive management of the Bay, strengthen the management of land-based pollution discharge projects, coastlines and beaches, and lay out and construct the northern marine environmental emergency disposal center.

(twenty-one) to accelerate the formation of a green and low-carbon lifestyle.In-depth implementation of green and low-carbon national action, expand the supply of green products such as energy-saving and environmentally-friendly cars, energy-saving household appliances and efficient lighting, explore the establishment of green consumption incentive mechanisms such as personal carbon accounts, comprehensively implement the classification of municipal solid waste, and implement the food conservation action plan. Carry out green life creation activities, expand the coverage of government green procurement, and guide enterprises to implement green procurement guidelines in depth. New buildings in cities and towns will fully implement green building standards, and promote the integration of building photovoltaics and the large-scale development of ultra-low energy-consumption buildings.

(twenty-two) to establish a green and low-carbon development system and mechanism.Steadily promote the transformation from "double control" of energy consumption to "double control" of total carbon emission and intensity. Explore the value realization mechanism of eco-products, carbon sink compensation and trading mechanism, support more industrial enterprises in Shandong to participate in the national carbon emission trading, and carry out carbon footprint accounting of key products throughout their life cycle. Explore the construction of large-scale carbon capture and storage demonstration projects in qualified industries such as steel, cement and chemical industry, encourage the use of abandoned oil fields and mines to develop diversified low-cost carbon storage through market-oriented methods, and expand the application scenarios of carbon dioxide in oil and gas exploration, greenhouse planting, cold chain transportation and other fields. Guide financial institutions to develop green financial products and expand the scale of green credit in accordance with the principle of marketization and rule of law, and support qualified enterprises to issue green bonds.

Seven, promote regional coordination between urban and rural areas, and build a high-quality development space dynamic system.

(twenty-three) to improve the level of regional coordinated development in the province.Promote the intensive development of Shandong Peninsula urban agglomeration and build the growth pole of the Yellow River Basin. Cultivate and develop the modern metropolitan areas of Jinan and Qingdao, and build the starting area of Jinan’s new and old kinetic energy conversion and Qingdao’s west coast new area with high quality. Improve the development level of western Shandong, Jiaodong and southern Shandong, and promote synergy. Support the development of resource-based cities and regional border cities, and develop characteristic and advantageous industries according to local conditions. Promote the urbanization construction with the county as an important carrier.

(twenty-four) to improve the modernization level of urban construction and governance.We will carry out urban renewal, speed up the transformation of old urban communities, comprehensively promote the aging and renovation of gas pipelines, and build dynamic neighborhoods. We will improve the rapid response mechanism for major emergencies, increase the construction of urban disaster prevention and mitigation facilities, strengthen the construction of urban flood control and drainage systems, and strictly protect ecological space and flood discharge channels. Improve the environmental infrastructure, improve the recycling system of waste materials, promote the transformation of urban rainwater and sewage confluence pipe network, upgrade the standard of urban sewage treatment plants, and control the leakage of public water supply pipe network to achieve zero clearing of black and odorous water bodies in urban built-up areas. Accelerate the construction of new urban infrastructure and improve the level of digital grid refinement of urban governance.

(twenty-five) solidly promote rural revitalization.We will firmly uphold the responsibility of maintaining food security as a major province, strictly observe the red line of cultivated land protection, accelerate the construction of high-standard farmland, and carry out the utilization of reserve resources of cultivated land such as saline-alkali land. We will implement seed industry revitalization, speed up the construction of cold chain logistics facilities for agricultural products storage and preservation, and build important agricultural products and fruit and vegetable supply guarantee bases. Promote the development and application of green eco-agricultural technology, realize the negative growth in the use of chemical fertilizers, pesticides and plastic films, and improve the comprehensive utilization level of agricultural wastes. We will implement the project to improve the quality and safety of rural houses and deepen the improvement of rural human settlements. Do a good job in the follow-up support for the relocation of residents in the Yellow River beach area, and promote the relocation and resettlement, industrial employment, public facilities and community service system as a whole.

Eight, innovation system and mechanism, building a new highland of reform and opening up.

(twenty-six) improve the market mechanism of kinetic energy conversion.Accelerate the optimization of the layout, structural adjustment and strategic reorganization of the state-owned economy, promote state-owned enterprises to take the lead in eliminating inefficient and backward production capacity, and promote the concentration of state-owned capital in forward-looking strategic emerging industries. We will improve policies to support the reform and development of private enterprises, equally protect the property rights of private enterprises and the rights and interests of entrepreneurs in accordance with the law, and vigorously promote entrepreneurship. Get rid of the institutional and institutional obstacles that restrict the free flow of labor, technology, data and other factors, resolutely abolish the regulations and practices that hinder the unified market and fair competition, and explore the market-oriented reform path of competitive links in energy, public utilities and other industries. Promote the reform of rural homestead and collective construction land in accordance with the law.

(twenty-seven) to build a high-efficiency service-oriented government.Deepen the reform of "streamline administration, delegate power, strengthen regulation and improve services" and create a market-oriented and legalized international business environment. We will fully implement the list system of government powers and responsibilities, deepen the reform of "one network to run", "one time to run" and "one chain to handle" in light of the actual situation in Shandong, and realize the standardization, standardization and convenience of government services. Build an integrated government big data platform to create a scene-driven, data-driven, intelligent and efficient digital government. Focus on enterprise and individual life-cycle government services, vigorously promote minimalist, integrated and global management, and realize the policy of benefiting enterprises and benefiting the people "free of application and quick cash". Accelerate the establishment and improvement of an all-round, multi-level and three-dimensional supervision system, improve the supervision means such as "double random, one open" and "internet plus supervision", and realize the supervision of the whole chain and all fields before and after the event.

(twenty-eight) to expand new advantages of opening up and cooperation.Deeply integrate into the "Belt and Road Initiative", give play to the role of China-SCO as a demonstration zone for local economic and trade cooperation, deepen investment cooperation with relevant countries in energy and other fields, and actively support the high-quality development of China-EU trains. Actively participate in the implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP), give full play to the advantages of deep cooperation with East Asian countries such as Japan and South Korea, increase open cooperation in the fields of service trade, e-commerce and intellectual property rights, and create a demonstration zone for local economic and trade cooperation among China, Japan and South Korea. Deepen international cooperation in the fields of green and low-carbon technologies, equipment, services and infrastructure, promote technology and products to go global, rationally regulate the export of products with high energy consumption and high emissions, and take the lead in connecting green trade rules. We will accelerate the implementation of various reform and opening-up tasks in the China (Shandong) Pilot Free Trade Zone.

Nine, organize the implementation

(twenty-nine) adhere to the overall leadership of the party.We should run the Party’s leadership through the whole process of deepening the transformation of old and new kinetic energy and building a green, low-carbon and high-quality development pioneer zone in Shandong, give full play to the role of grass-roots party organizations as a fighting fortress, fully mobilize the entrepreneurial enthusiasm, initiative and creativity of party member and cadres and officers, and vigorously create a good atmosphere of encouraging reform, supporting innovation and tolerating failure.

(30) Strengthen policy support and reform exploration.Give Shandong greater autonomy in reform, and give priority to exploration and practice in the fields of scientific and technological innovation, value realization of ecological products, application of green and low-carbon technologies, and standardized innovation and development. Improve the fiscal and financial policies that are conducive to green, low-carbon and high-quality development, and form a joint force with public policies such as land, price, ecological environment and society. Give play to the leading role of major projects in promoting the transformation of old and new kinetic energy and green, low-carbon and high-quality development, and include qualified projects into the scope of investment in the central budget and special bonds supported by local governments.

(31) Strengthen overall coordination.The National Development and Reform Commission shall, jointly with relevant departments, conscientiously implement the decision-making arrangements of the CPC Central Committee and the State Council, strengthen guidance to Shandong Province, coordinate and implement the cross-disciplinary and cross-regional key tasks proposed in this opinion, study and formulate supporting policies, help solve key and difficult problems in the reform and transformation, and sum up and popularize experiences and practices in a timely manner. Shandong province should earnestly fulfill its main responsibilities, formulate specific implementation plans, and promote the implementation of various tasks. Major situation timely report to the CPC Central Committee and the State Council.

the State Council

August 25, 2022

(This piece is publicly released)

　　Li Wei ‘ao, a reporter from Economic Observer Network, used to be the general manager of personal finance department of Henan Branch and the chief auditor of Ningxia Branch of () Co., Ltd. (601988.SH/03988.HK, hereinafter referred to as Bank of China). After the first-instance judgment and the second-instance ruling were sent back for retrial, the first instance of the retrial was pronounced on January 15, 2024. Liu Fuguo received a major change of sentence: one of the crimes he was accused of taking bribes together became a rare crime of illegally operating similar businesses; And Liu Fuguo’s total sentence was changed from 14 years in prison to 7.5 years in prison, which was reduced by nearly half.

　　In February 2024, several people familiar with the matter told the reporter of Economic Observer Network the above information.

　　The Commission for Discipline Inspection informed Liu Fuguo that he had resisted organizational censorship.

　　Liu Fuguo, born in April 1968, was the general manager of personal finance department of Bank of China Henan Branch, the deputy director and director of personal business department of Bank of China Henan Branch, the president of Anyang Branch, the secretary of Luoyang Branch and the chief auditor of Ningxia Branch.

　　On October 11, 2019, with the approval of the Henan Provincial Supervision Committee, the Xinxiang Municipal Supervision Committee took lien measures on the same day; On suspicion of accepting bribes, he was criminally detained on January 17, 2020 and later transferred to arrest.

　　On January 19th of the same year, the Discipline Inspection and Supervision Team of the State Supervision Commission of the Central Commission for Discipline Inspection in China Bank and the Supervision Commission of the Henan Provincial Commission for Discipline Inspection released news:

　　"After investigation, Liu Fuguo violated political discipline and colluded with others to confront organizational review; Violation of organizational discipline and failure to truthfully declare family property information; Violation of integrity discipline, illegal business enterprises, investment in related enterprises in the name of others; Violate the discipline of life and have unfair sexual relations with others many times. Violation of national laws and regulations, repeated overseas gambling. Taking advantage of the convenience and influence of the position, cooperating with others to ask for bribes from financing enterprises, accepting bribes from others alone, and being suspected of accepting bribes. "

　　The prosecution accused Liu Fuguo and other "borrowing" credit businesses of accepting bribes of nearly 70 million yuan.

　　After the case, it entered the procuratorate stage.

　　The People’s Procuratorate of Xinxiang City, Henan Province accused Liu Fuguo, Dong Zhitao, former deputy director of the operation center of Bank of China Henan Branch, Yang Guochun, former general manager of Bank of China International Securities Henan Branch, and Wang Fa, head of Shenzhen Huaxin Guoyuan Investment Development Co., Ltd. (hereinafter referred to as Huaxin Guoyuan Company), of accepting bribes of 67,036,100 yuan and delivery vouchers of 1.8 million yuan.

　　Specifically, from March 2013 to 2016, Huaxin Guoyuan Company intervened in the credit business of China Bank in eight companies, including Henan Hongli Group Co., Ltd. and Zhengzhou Runjia Real Estate Co., Ltd., and requested the above money and bills of lading from these eight companies in the name of consulting fees.

　　The so-called quasi-credit business, compared with the traditional credit business, involves many types of financial institutions, such as trusts, brokers and fund subsidiaries. Banks use them as intermediaries to achieve capital lending through complex transaction structures and creditor-debtor relationships. Credit-like business is widely used in some restrictive industries, such as real estate, high pollution and high energy consumption industries, and its interest rate is much higher than that of ordinary credit business.

　　Xinxiang City People’s Procuratorate also accused Liu Fuguo of taking advantage of his position as the general manager of the personal finance department of China Bank Henan Branch to help Wang Fa’s company with a financing project of 100 million yuan. In 2012, he received five gold bars (700 grams in total, with a total value of 252,900 yuan) from Wang Fa and 100,000 yuan in cash.

　　At the beginning of 2019, Liu Fuguo returned three gold bars (100g in total) to Wang Fa after learning that the head office of China Bank had investigated the violation of discipline and law in the personal finance department of Henan Branch.

　　In addition, taking advantage of his position, Liu Fuguo accepted 30,000 yuan from Xie Yong, vice president of Xiayi County Sub-branch of Bank of China, in 2016 to help Xie Yong’s son Xie Tian join China Bank.

　　Dong Zhitao was also accused of taking bribes alone, specifically:

　　In 2012, Dong Zhitao took advantage of his position as Senior Manager of Personal Finance Department of Bank of China Henan Branch to help Wang Fa’s company with a 100 million yuan financing project, and received 100,000 yuan in cash and 100 grams of gold (worth 36,100 yuan).

　　In 2014, Dong Zhitao also took advantage of his position as the vice president of Zhengzhou Garden Sub-branch of Bank of China. After cooperating with Wei Lingcai and others to complete the financing loan project of 200 million yuan of Henan Hongli Group Co., Ltd., he accepted Wei Lingcai’s cash of 1.2 million yuan.

　　Liu Fuguo was sentenced to 14 years in the first instance and sent back for retrial in the second instance.

　　On August 17, 2021, Xinxiang Intermediate People’s Court ruled in the first instance:

　　Liu Fuguo was convicted of accepting bribes, sentenced to 14 years in prison and fined RMB 1.2 million; Dong Zhitao was convicted of accepting bribes, sentenced to 10 years in prison and fined 500,000 yuan; Yang Guochun was convicted of accepting bribes, sentenced to 12 years in prison and fined RMB 1 million. Wang Fa was convicted of accepting bribes, sentenced to 14 years in prison and fined 1.2 million yuan.

　　Xinxiang Intermediate People’s Court also ruled that the illegal income of Liu Fuguo, Dong Zhitao, Yang Guochun, Wang Fa, Wei Lingcai and Liu Songhe, who were frozen and detained in the case, was 4,974,400 yuan, 5,428,300 yuan, 880,000 yuan, 17,505,400 yuan, 5,298,000 yuan and 500,000 yuan respectively. The remaining insufficient part of 34.2499 million yuan continued to be recovered from these four defendants. Dong Zhitao’s illegal income from personal bribery was 1,336,100 yuan, which was recovered according to law.

　　After the verdict was pronounced, Liu Fuguo, Yang Guochun and Wang Fa refused to accept it and appealed separately.

　　In March 2022, the Higher People’s Court of Henan Province, which was in charge of the second trial of this case, held that "some facts identified in the original judgment were unclear and the procedure was illegal" in the first trial. Therefore, it is ruled that the judgment of first instance shall be revoked and sent back to Xinxiang Intermediate People’s Court for retrial.

　　Xinxiang Intermediate People’s Court retried and sentenced Liu Fuguo to two crimes.

　　From November 13th to December 1st, 2023, Xinxiang Intermediate People’s Court held a public hearing to hear the case.

　　Liu Fuguo argued in court that he was not guilty. The defenders’ opinions include: "China Bank and Huaxin Guoyuan Company are both intermediaries providing intermediary services in the credit business, and they all participate in civil activities as equal market participants, and China Bank does not have any authority to control other market participants", "To take a step back, if the facts alleged in the indictment are completely true, then this case is closer to the crime of illegally operating similar businesses, and it is impossible to constitute a joint bribery crime" and so on.

　　According to Article 165 of the Criminal Law, the so-called crime of illegally operating similar businesses means that "directors, supervisors and senior managers of state-owned companies and enterprises, taking advantage of their positions, operate their own businesses or operate businesses similar to those of the companies and enterprises where they work for others to obtain illegal benefits, and if the amount is huge, they shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also or shall only be fined; If the amount is especially huge, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and fined. "

　　In judicial practice, this crime is quite rare. The reporter searched the Supreme People’s Court’s "China Judgment Document Network" and found no case involving "the crime of illegally operating similar businesses".

　　Xinxiang Intermediate People’s Court held that Liu Fuguo and Dong Zhitao, as managers of China Bank, together with Yang Guochun and Wang Fa, "established Huaxin Guoyuan Company by relying on the information platform and intermediary income business of Henan Branch of Bank of China, and took advantage of their positions in the intermediary business of China Bank to intervene in the intermediary business of China Bank. In the process of financing for enterprises, Huaxin Guoyuan Company illegally operates the same business as the company where it works by signing financing service agreements with financing enterprises, and obtains consulting service fees from the financing costs of financing enterprises. The behavior of Liu Fuguo and others is essentially a profit-making behavior, which seriously violates the obligation of non-competition, increases the capital cost of capital-using enterprises in disguise, endangers the company’s management order and destroys the normal market order, and its behavior conforms to the constituent elements of the crime of illegally operating similar businesses. "

　　The court held that Liu Fuguo and others "have constituted the crime of illegally operating similar businesses. The public prosecutor accused the four defendants of improper charges of accepting bribes, and the court corrected them. Therefore, it was decided that:

　　Liu Fuguo was convicted of illegally operating similar businesses, sentenced to five years and six months in prison and fined RMB 1 million. He was convicted of accepting bribes, sentenced to three years in prison and fined 200,000 yuan. He decided to execute a fixed-term imprisonment of seven years and six months and fined 1.2 million yuan.

　　Dong Zhitao was convicted of illegally operating similar businesses, sentenced to five years and six months in prison and fined RMB 1 million; He was convicted of accepting bribes, sentenced to four years in prison and fined 300,000 yuan. He decided to execute a fixed-term imprisonment of eight years and six months and fined 1.3 million yuan.

　　Yang Guochun was convicted of illegally operating similar businesses, sentenced to five years and three months in prison and fined 800,000 yuan.

　　Wang Fa committed the crime of illegally operating similar businesses, was sentenced to five years and six months in prison and fined RMB 1.2 million.

　　Compared with the earliest judgment of the first instance, after the retrial of the first instance, the sentences of the four defendants have been greatly reduced. However, the insider told the reporter of Economic Observer that Wang Fa and other defendants still refused to accept and filed an appeal.

　　As of February 19, 2024, the second trial of the case has not yet reached a result.

Special feature of 1905 film network The film starring director,, and will be released on April 3. The film cuts into the pain points of society with the theme of anti-pyramid selling, but it has not been shown first. Angel won the Best Actress in the Asian Film Awards with the role of Wu Moss, and Leo’s acting skills also triggered a heated discussion among netizens.

In this program, film critic Ma Ning is invited to look forward to the upcoming film "Between Trees and Plants" with us to find out how to open the film.

Vegetation is a metaphor for people, graceful and graceful, and Zen is beautiful.

Director Gu Xiaogang’s works are often famous for the beauty of mountains and rivers, so the film "Between Plants and Trees" presents a wonderful "contrast": on the one hand, the story takes place on the graceful side of the West Lake, and the tea mountain and tea garden are all very beautiful in China’s oriental charm. Tea art is Zen, and people are "tea" among plants and trees, which is also the origin of the film name. But on the other hand, the film focuses on pyramid selling, which is a realistic theme.

The names of the two protagonists also have vegetation attributes. The name of mother moss comes from the poem of Yuan Mei, a poet in Qiantang, "Moss flowers are as small as rice, but they bloom like peony". Although moss flowers are as small as rice grains, they want to bloom like noble peony, which also implies the role trend of Wu moss flowers.

The name of the son Mulian comes from the traditional folk story Mulian Saving Mother in China. The word "Lotus" means purity. It is said that Mulian’s mother was sent to hell after her death because she did something bad before her death. After several generations of hard work, Mulian finally succeeded in returning to the world as a person. He Mulian in the film is also as the name suggests. In order to save her deceived mother, she went into "hell" alone, hoping to save her mother from false dreams through hard work.

Ma Ning believes that this design has brought more interpretation space to the film: "People live for a lifetime, and plants grow in autumn. In fact, we are just like a grass and a tree in the world." The characters in the movie are just like the plants can’t choose the land they want to grow, and people can’t decide their origins. All they can do is try to find the direction of light and keep growing.

After the world: MLM is shocking

However, behind the quiet and peaceful scenery of "The Man among the Trees", it is a shocking spectacle of pyramid selling: at the bizarre scene, a large number of banknotes are floating in the air, and many exciting figures are seen. Criminals use psychological warfare of "accompanying", "coaxing", "scaring" and "regretting" to create many false fantasies for brainwashed people.

Angel also changed his gentle image in the film, showing a state of hysteria. Husband Chen Jianbin shouted in the film roadshow: "I have never seen such a teacher Jiang."

Wu Moss showed different appearances in different stages of her life: when she was a tea-picking girl, she was kind and forbearing at heart, with simple makeup and even a little haggard; When she was brainwashed into a so-called "independent woman" by pyramid schemes, she wore gaudy purple eye shadow and was full of crazy confidence, which made people daunting.

In the face of his son’s dissuasion, Wu Moss shouted at the top of her lungs in the rainy night: "Can I spend money to buy happiness?" I have lived for half my life, and I have finally lived what I want. "The illusory self and false self-esteem make her prefer to believe in MLM organizations rather than continue to face the suffering of life.

In the face of some netizens’ doubts about Angel’s performance in the film, Ma Ning bluntly said that such an image is very close to those who go deep into MLM organizations in reality: "I interviewed some victims who were brainwashed by MLM organizations, and they will show many behaviors that cannot be taken for granted, such as splashing in the street. Angel’s intense and impactful performance can alert more people to the dangers of pyramid selling.

Leo’s son, He Mulian, just graduated from college. At first, he was puzzled by his mother’s occupation. After seeing his mother degenerate day by day after she entered the MLM organization, He Mulian’s life also changed a hundred and eighty degrees. He changed from an inexperienced sunshine boy to a bearded and unkempt anti-MLM fighter.

For Leo’s performance in the film, Ma Ning commented: "Leo showed many levels of performances in the film, especially the close-ups of his eyes. With fear and despair, his eyes lost their original light. The discussion about this performance is likely to be on the hot search."

Watch "Between the Trees and Plants" to prevent pyramid schemes and know people’s hearts.

Finally, when it comes to the suitable audience of "Between the Plants and the Trees", Ma Ning said: "Please recommend the film to your loving family and let everyone around you watch it. There is no distinction between men, women and children in pyramid schemes. Everyone has a fragile and fearful side in his heart. MLM organizations use this fragility and fear to brainwash people and use mental control to awaken people’s inner delusions. Please recommend the film to your group chat of "Love Family" and open this fraud prevention guide with your family and friends. "

The reporter learned from the Ministry of Industry and Information Technology that in order to effectively coordinate epidemic prevention and control, economic and social development, and facilitate the travel of users, the "asterisk" mark on the communication itinerary card will be cancelled from now on.

After the news that the "asterisk" mark on the communication itinerary card was cancelled was released, on the afternoon of June 29, the search popularity of hotels and air tickets on major tourism platforms immediately increased significantly, and the summer tourism industry is expected to usher in recovery.

Communication trip card "asterisk" cancelled

The popularity of hotel ticket search has soared

After the news was released, the search volume of several popular tourist destinations on Ctrip platform increased by over 300%; On the platform where to go, the search volume of air tickets increased by 60% in just half an hour, the search volume of hotels doubled, and the search volume of train tickets increased by up to 1.5 times; On the flying pig platform, the search volume of air tickets increased by over 50% in about one hour.

Chen Linan, Director of Ctrip Public Affairs DepartmentIn an instant, the desire of consumers to search and travel has been aroused, and the order volume of inter-provincial travel in summer may increase by more than 200% month-on-month, which also increases the confidence of the tourism industry.

In terms of popular routes, as of 17: 00 on June 29, the number of bookings on Qunar platform increased significantly compared with the same period yesterday: Shanghai-Harbin, Wuhan-Haikou, Nanning-Hangzhou, Jinan-Kunming, Haikou-Changsha and so on.

Liu Ting, Senior Manager of Public Affairs Department: As of 17: 00 on June 29th, the national air ticket booking volume increased by nearly 30% compared with the same period yesterday. During the two hours from 15: 00 to 17: 00, the booking volume of air tickets departing from Beijing increased by 135% compared with the same period yesterday.

In addition, with the coming of summer vacation, long-distance travel has also picked up significantly. According to the air ticket booking data of Flying Pig Platform in the past week, Chengdu, Guangzhou, Hangzhou, Xi ‘an, Chongqing, Kunming, Nanjing, Haikou, Qingdao and Shenzhen are the ten most popular destination cities.

On the Ma Honeycomb platform, after the news was released today, the search popularity of Dunhuang Mogao Grottoes increased by 733%, that of self-driving in Xinjiang increased by 550%, and that of free travel in Guizhou increased by 210%.

　　Cctv newsIn December 2021, China Banking and Insurance Regulatory Commission issued the Regulation on the Solvency of Insurance Companies (II), which will be implemented from 2022. Since the implementation of Rule II, it has achieved positive results in guiding the insurance industry to serve the real economy and supporting the development of the capital market. The heads of relevant departments in China Banking and Insurance Regulatory Commission, China, answered reporters’ questions on relevant issues.

　　1. What is the background and implementation of Rule II?

　　Rule II is an important measure for China Banking and Insurance Regulatory Commission to implement the spirit of the Fifth National Financial Work Conference and make a good decision to prevent and resolve major financial risks. The construction of Rule II was started in September 2017, with the goal of guiding the insurance industry to return to the source of security, focusing on its main business, enhancing its ability to serve the real economy, effectively preventing the risks of the insurance industry, and accelerating the full opening up of the financial industry, and comprehensively optimizing and upgrading the original solvency supervision rules. Judging from the implementation in the first half of this year, Rule II has improved the risk sensitivity and effectiveness of regulatory indicators, and achieved positive results in guiding the insurance industry to serve the real economy and supporting the development of the capital market.

　　2. What specific policies does Rule II have in guiding the insurance industry to serve the real economy? What is the initial effect?

　　Rule II gives a number of support policies to green bonds, scientific and technological innovation, export credit insurance, agricultural insurance and endowment insurance, which effectively promotes the insurance industry to enhance its ability to serve the real economy and enhance its quality and efficiency.

　　One isGuide insurance companies to support scientific and technological innovation. Rule II allows professional technology insurance companies to measure the minimum insurance risk capital at 90%, so as to guide them to better serve the technology field and implement the concept of innovation and development. This policy can greatly save the minimum capital of professional technology insurance companies and improve their solvency adequacy ratio. By the end of the second quarter of this year, the supporting companies had provided 2.1 billion yuan more risk protection for the technology field.

　　The second isEncourage the development of exclusive commercial endowment insurance business. Rule II allows the minimum capital of longevity risk of exclusive commercial endowment insurance products to be measured at the rate of 90%, which strongly supports the development of the third pillar endowment insurance. By the end of the second quarter of this year, the premium of exclusive commercial endowment insurance products in the insurance industry was about 2.2 billion yuan, and it showed a rapid growth trend.

　　The third isSupport insurance companies to invest in green bonds. Rule II allows the minimum capital of green bonds invested by insurance companies to be measured at 90%, which guides the insurance industry to implement the concept of green development and effectively promotes the enthusiasm of insurance companies to invest in green bonds.

　　The fourth isSupport the development of agricultural insurance business. Rule II allows insurance companies to measure the minimum insurance risk capital of agricultural insurance business at a rate of 90%. At the end of the second quarter of this year, this policy saved the minimum capital of the insurance industry by about 2.7 billion yuan, which can support insurance companies to provide about 420 billion yuan more risk protection for agriculture, rural areas and farmers, and effectively implement the decision-making and deployment of "ensuring food and energy security".

　　The fifth isSupport the development of export credit insurance, overseas investment insurance and other businesses. Rule II gives support to medium and long-term export credit insurance and overseas investment insurance, and allows the minimum capital of insurance risk to be measured at 90%. Based on the data at the end of the second quarter of this year, this policy can support insurance companies to provide about 240 billion yuan more risk protection for China’s exports and overseas investment, and effectively implement the decision-making arrangements for stabilizing foreign trade.

　　3. What are the policies of Rule II in supporting the development of the capital market? What is the current effect?

　　Rule II gives preferential policies to insurance funds to invest in banking stocks, large-cap blue-chip stocks and publicly offered infrastructure securities investment funds (publicly offered REITs), supports the insurance industry to participate in the capital market reform, and maintains the healthy and stable development of the capital market.

　　One isSupport insurance companies to invest in large-cap blue chip stocks. Rule II allows the minimum capital of the Shanghai and Shenzhen 300 constituent stocks invested by insurance companies to be measured according to the proportion of 95% to support the smooth operation of the capital market. Under the guidance of policy support, by the end of the second quarter of this year, the insurance industry had invested about 790 billion yuan in the Shanghai and Shenzhen 300 constituent stocks, saving a minimum capital of 13.8 billion yuan, which strongly supported the smooth operation of the capital market.

　　The second isSupport insurance companies to invest in public offering of infrastructure securities investment funds (public offering REITs). Rule II allows insurance companies to invest in publicly offered REITs, allowing the minimum capital to be measured according to the proportion of 80% to support the reform and development of the capital market. By the end of the second quarter of this year, the insurance industry had invested about 7 billion yuan in public offering REITs, accounting for about 13% of the total scale of public offering REITs, and it was an important institutional investor. The above policies saved the minimum capital of insurance companies by about 720 million yuan, which strongly supported the insurance industry to participate in the reform and development of the capital market.

　　The third isSupport and encourage insurance companies to invest in banking stocks. Rule II For the long-term equity investment of banks invested by insurance companies, if the dividend yield meets certain conditions, the impairment requirement can be exempted, and the insurance company is allowed to take its book value as the recognized value. This policy supports insurance companies to hold shares of listed banks for a long time and maintain the healthy development of the capital market.

　　4. Next, what other measures will solvency supervision take to guide the insurance industry to serve the real economy and support the development of the capital market?

　　According to the decision of the CPC Central Committee in the State Council, China Banking and Insurance Regulatory Commission will continue to improve solvency supervision standards, thoroughly implement new development concepts, strengthen policy guidance, and continuously enhance the insurance industry’s ability to serve the overall economic and social situation on the basis of scientific and effective risk prevention and control.onebeContinue to support the development of commercial pension business. According to the characteristics and development reality of commercial pension business, we will study and formulate preferential policies for solvency, reduce the capital occupation of the company, support the insurance industry to carry out commercial pension business, and promote the healthy development of the third pillar pension insurance.twobeFor the investment assets formed by insurance funds supporting and implementing the national strategic decision-making, study and clarify their definition standards and preferential policies, reduce their minimum capital requirements, and enhance the ability of the insurance industry to serve the overall situation.

　　On June 20, farmers held hybrid rice grains in the field in Jihangjia county, Bubanza province, Burundi. Xinhua News Agency reporter Han Xushe

　　Since the beginning of this year, affected by the global economic weakness, frequent regional conflicts, extreme weather events and other factors, global food prices have been rising all the way. According to FAO data, the global rice price has reached the highest level in 11 years since July, and there is a further upward trend. Many people are worried that the global food security crisis may intensify again.

　　The price of major grain has risen.

　　On July 17th, Russia announced that the validity of the agreement on the export of agricultural products in the Black Sea port was suspended, which aroused widespread concern in the international community.

　　Since the escalation of the Ukrainian crisis in February 2022, the export of agricultural products from Russia and Ukraine via the Black Sea port has been disturbed. On July 22, 2022, under the mediation of Turkey and the United Nations, Russia and Ukraine signed an agreement on the export of agricultural products from the Black Sea port to ensure the smooth entry of grain and fertilizer from both sides into the international market. The agreement was extended three times in November 2022, March and May this year and expired on July 17.

　　The black sea grain transport agreement affects the grain imports of many countries. According to United Nations estimates, since it was signed in July 2022, the agreement has allowed more than 32 million tons of grain commodities to be exported from three ports in the Black Sea of Ukraine to 45 countries and regions. UN Secretary-General Guterres called the agreement the lifeline of global food security. When food production and supply were disturbed by geopolitical conflicts, climate change, energy prices and other factors, the agreement helped food prices drop by more than 20%.

　　This time, Russia refused to extend the agreement, which stirred up the global grain market. After the news was announced, the prices of major global grains such as corn, wheat and soybeans all rose to varying degrees. The International Monetary Fund (IMF) predicts that Russia’s withdrawal from the agreement on the export of agricultural products in the Black Sea port may increase global food prices by 10% to 15%, and the organization said that it is still continuing to assess the situation.

　　At the same time, extreme weather and other factors are increasing the uncertainty of grain production. Affected by the El Niñ o phenomenon, Southeast Asia has experienced continuous high temperature and dry weather since April this year, and major rice exporting countries such as Thailand and Vietnam have lowered their rice export forecasts for the year. Fitch, an international rating agency, believes that global rice production may hit a 20-year low in 2023.

　　Drought will not only lead to a reduction in grain production, but also provide support for a sharp increase in grain prices. Events related to bad weather have pushed up the prices of some agricultural products this year. For example, sugar and cocoa futures have risen by more than 20%. Due to the influence of feed prices, the prices of livestock such as pigs and cattle have also risen sharply, and the prices of beef products in the United States have risen by more than 30%.

　　The stranding of the Black Sea grain transportation agreement and the impact of extreme weather events are only the epitome of the current global food security dilemma. Fleischer, director of the Middle East, North Africa and Eastern Europe of the World Food Program, said that the world is facing the most serious food security crisis in modern times. The World Food Program predicts that in 2023, more than 345 million people in the world will be in crisis-level food insecurity, and 43 million of them will be one step away from famine. The agency provided food aid to more than 158 million people around the world last year, more than in any previous year.

　　The grain system needs to be transformed urgently

　　"The global food system ‘ Crashed ’ The disadvantaged groups have paid the price and must change the way of food production and consumption. " Guterres recently issued a warning.

　　The international community generally believes that the main crux of the current global food crisis lies in the unbalanced global food distribution and the huge gap between food resources in different countries and regions.

　　In the past few decades, nearly 80% of the world’s grain production has been concentrated in more than a dozen countries. This pattern of supply and demand, in which the exporting countries are relatively concentrated and the importing countries are relatively scattered, makes the international grain market vulnerable to epidemic situation, geographical conflicts and other factors, and increases the degree of food insecurity.

　　Since last year, affected by geopolitical conflicts, the turmoil in "world granaries" such as Ukraine and Russia has broken the fragile balance of the global grain supply chain; The United States has repeatedly increased sanctions against Russia by pulling its allies, which has seriously hindered the grain production and export of Russia and Ukraine and aggravated the blockage of the global grain supply chain; The world food trade giants, mainly American enterprises, manipulate international food prices and repeatedly seek huge profits by speculating on food security issues.

　　Under the continuous influence of multiple factors, the supply chain connecting global grain production and demand has been interrupted repeatedly, and the international cooperation mechanism to ensure the smooth supply chain has been blocked, which has caused the global grain price to soar all the way, and many countries that are highly dependent on grain imports can only "look forward to it".

　　Food security is not only related to food rations, but also to the development of the world economy and the stability of regional countries. According to the report of the Food and Agriculture Organization of the United Nations, rising global food prices have a greater impact on low-and middle-income countries, and the increase in the cost of imported energy and fertilizers may force some countries to reduce their input, which in turn will lead to a decline in agricultural productivity and a decrease in domestic food supply, which will further deepen the possibility of food and energy crises in these countries.

　　Faced with all kinds of severe tests, it is difficult for the existing global food system to operate reasonably and effectively, so it is imperative to promote the transformation of the food system. Recently, at the promotion meeting of the results of the United Nations food system summit, representatives from all parties called for promoting the construction of a more efficient, inclusive, resilient and sustainable food system. Qu Dongyu, Director-General of the Food and Agriculture Organization of the United Nations, said that the efforts to transform the global agricultural food system involve many sectors, such as agriculture, climate crisis, biodiversity, trade and nutrition. Countries should strengthen coordination, make governance processes and policies coherent and coordinated, combine short-term and long-term, and actively seek solutions.

　　Concerted action is imminent.

　　At present, the Black Sea grain transportation agreement is constantly in turmoil, further aggravating the global food security risks. In order to smooth the global grain supply chain and unblock the blocking points and breakpoints, it is urgent for all countries to work together.

　　It is worth noting that Russia has not completely closed the door to renew the agreement. Judging from the requirements put forward by Russia, it hopes to lift many restrictions on its banking, transportation and insurance, because this has seriously affected its trade other than grain and fertilizer. Some analysts believe that at present, it is the stage where the parties have the biggest differences since the signing of the agreement on the export of agricultural products at the Black Sea port one year ago. On the basis that there is no basic mutual trust between Russia and Ukraine or between Russia and the West, it is difficult for all parties to find a solution around their differences calmly for the time being.

　　The international community is trying hard to find opportunities to mediate, hoping that the renewal of the agreement on the export of agricultural products at the Black Sea port will usher in a turning point. When talking about this matter recently, Guterres said that the United Nations will continue to work to find a solution. Turkish President Erdogan also said that he will continue to save the agreement on the export of agricultural products in the Black Sea port and hopes to interview Russian President Vladimir Putin on the contents of the agreement.

　　Recently, China’s Foreign Ministry spokesperson Mao Ning said that China hopes that the package agreement on grain transportation in the Black Sea will continue to be implemented in a balanced, comprehensive and effective manner. China has put forward an international food security cooperation initiative, and is willing to strengthen communication and cooperation with all parties in this regard, promote the formation of more international consensus, and make positive contributions to ensuring world food security.

　　As a positive force to safeguard world food security, China put forward the "China Plan" and made the "China Action" to deal with the global food problem. In 2021, China proposed a global development initiative, which included food security in eight key areas of cooperation; In 2022, China put forward the International Food Security Cooperation Initiative, and put forward eight suggestions on establishing a cooperative partnership for commodities and safeguarding global food security, providing a "China plan" to solve the food problem.

　　Agricultural cooperation with more than 140 countries and regions; Popularize more than 1,000 agricultural technologies to developing countries, and drive the average yield of crops in the project area to increase by 30% to 60%; More than 14,000 hybrid rice professionals … … China has shared its development experience and applicable technology with developing countries, carried out international cooperation in a pragmatic way, and actively helped developing countries to enhance their food security.

　　"China’s global development initiative to include food security in key areas of cooperation is conducive to accelerating the implementation of the UN’s 2030 Agenda for Sustainable Development, and is also in line with the UN’s vision of strengthening global cooperation and revitalizing multilateralism." Alice Chabanne, Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific, said.

　　To meet the challenge of global food security, big countries need to take responsibility, go hand in hand and solve difficult problems through cooperation. All parties should strengthen the supervision of multinational food and agriculture enterprises, build a more resilient and stable global food supply chain, and reduce the volatility and vulnerability of the global food system; Work together to provide global public goods, slow down the macro impact of geopolitical conflicts, extreme climate and economic recession on global food security, and promote the development of the global food security governance system in a more just and reasonable direction. As the report of the World Food Programme emphasizes, the key to the food crisis lies in "how do we take more decisive actions to strengthen our ability to resist future shocks". (Author: Sun Changyue Source: Economic Daily)

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