Ministry of Finance： In January, the national lottery sales reached 27.21 billion yuan, down 43.3% year-on-year.

　　BEIJING, March 4 (Xinhua) The website of the Ministry of Finance today announced the national lottery sales in January 2020. Data show that in January, the national lottery sales totaled 27.210 billion yuan, a decrease of 20.745 billion yuan or 43.3% compared with the same period of last year. Compared with the same period of last year, the sales volume of lottery tickets in 31 provinces all declined.

Data Map: People buy lottery tickets. China News Agency issued Wei Liang photo

Data Map: People buy lottery tickets. China News Agency issued Wei Liang photo

　　Data show that in January, the national lottery sales totaled 27.210 billion yuan, a decrease of 20.745 billion yuan or 43.3% compared with the same period of last year. Among them, the sales of welfare lottery institutions was 12.89 billion yuan, a year-on-year decrease of 8.328 billion yuan or 39.3%. The sales of sports lottery institutions reached 14.32 billion yuan, a year-on-year decrease of 12.416 billion yuan or 46.4%. The year-on-year decline in lottery sales in January was mainly due to the fact that the lottery was closed during the Spring Festival, and the policy impact of the decline in lottery sales caused by the adjustment of some game rules continued to appear. In January 2019, due to the influence of the Asian Cup, the sales of sports lottery quiz lottery games were large, and the base was high in the same period last year.

Image source: Ministry of Finance website

Image source: Ministry of Finance website

　　In terms of sales of different types of lottery tickets, in January, the sales of lottery digital lottery tickets reached 14.969 billion yuan, a year-on-year decrease of 9.918 billion yuan or 39.9%. The sales of quiz lottery tickets was 6.804 billion yuan, a year-on-year decrease of 9.610 billion yuan or 58.5%. The sales of instant lottery tickets reached 2.777 billion yuan, up 593 million yuan or 27.1% year-on-year; The sales of video lottery tickets was 2.65 billion yuan, a year-on-year decrease of 1.809 billion yuan or 40.6%. The sales of Keno lottery tickets was RMB 10 million, a year-on-year decrease of RMB 01 million or 7.8%. In January, the lottery sales of digital lottery, quiz lottery, instant lottery, video lottery and Keno lottery accounted for 54.9%, 25.0%, 10.2%, 9.8% and 0.1% of the total lottery sales respectively.

Image source: Ministry of Finance website

Image source: Ministry of Finance website

　　In terms of lottery sales by region, in January, compared with the same period of last year, the lottery sales in 31 provinces all decreased, among which Jiangsu, Guangdong, Shandong, Zhejiang and Henan decreased more, with a year-on-year decrease of 1.937 billion yuan, 1.929 billion yuan, 1.808 billion yuan, 1.454 billion yuan and 1.166 billion yuan respectively.

　　The Ministry of Finance said that financial departments at all levels and lottery agencies at all levels should conscientiously do a good job in lottery issuance and sales during epidemic prevention and control, further strengthen supervision, actively create a good external environment, maintain normal market order, and promote the healthy development of lottery.

Interest-driven banned fireworks have management loopholes in many links. The reporter’s investigation found that ＂online celebrity Fireworks＂ was still on sale after a makeover.

Source: Rule of Law Daily-Legal Network
Cold light fireworks and "steel wool fireworks" have low ignition points, which can be ignited with matches or lighters, which means that there is fire danger in the process of transportation, storage and sales, and the burning speed is relatively fast, and once a fire occurs, it will spread rapidly.
● According to China’s Regulations on the Safety Management of Fireworks and Firecrackers and Regulations on the Safety Management of Hazardous Chemicals, the production, transportation, storage and sales of cold light fireworks as fireworks and firecrackers or "steel wool fireworks" as inflammable dangerous goods shall be subject to the administrative permission of the relevant regulatory authorities.
● After several notices are issued, there are still online stores selling cold light fireworks and "steel wool fireworks", and there are loopholes in the security inspection of subway and express delivery, so buyers and sellers can still collect and sell goods normally.
□ Rule of Law Daily All-Media Reporter Wang Yang
□ Trainee reporter Zhang Shoukun
During the Spring Festival, fireworks accidents occurred in many places, and the safety risks of cold light fireworks and "steel wool fireworks" attracted attention.
On February 14th, official website, the Emergency Management Department, issued a notice, clearly incorporating cold light fireworks into the management of fireworks and firecrackers, and centrally cleaning up and rectifying illegal online sales; On February 16th, the Office of the State Council Safety Production Committee put forward rectification requirements, and all the "steel wool fireworks" currently sold in physical storefronts and online platforms should be taken off the shelves and properly disposed of; On February 19th, the State Post Bureau issued an urgent notice, requiring postal administrations and postal and express delivery enterprises to strictly guard against illegal delivery of cold light fireworks and "steel wool fireworks".
In just a few days, many departments have issued documents intensively, and there is no "transition period" and "buffer period", which shows the determination of the relevant departments to govern.
However, according to a recent investigation by the reporter of Rule of Law Daily, there are still online stores selling cold fireworks such as "fairy glow sticks" and "electronic fireworks" and "steel wool fireworks" that can throw out cool visual effects. From the actual implementation situation, there are still many gaps with the requirements of "all off the shelves" and "prohibiting illegal delivery"; There are loopholes in the security inspection of subway, express delivery and other links, and buyers and sellers can still collect and sell goods normally. In addition, there is still no clear regulation on how to detect and identify, and how to properly handle the "steel wool fireworks" taken off the shelves by sellers and purchased by buyers.
Low ignition point and high risk.
There are misunderstandings in public cognition.
In January this year, in Taizhou, Zhejiang Province, a woman played "throwing flowers" with "steel wool fireworks" in the parking lot to shoot a video, which caused the vehicle to catch fire. In Shanghai, a man was playing with "steel wool fireworks" on the roof, and the sparks caused two cars to be damaged …
Why are cold light fireworks and "steel wool fireworks" so dangerous?
Kou Liping, a professor at the School of Public Security of the People’s Public Security University of China and director of the Urban Emergency Management Research Center of the Capital Social Security Research Base, explained that both cold light fireworks and "steel wool fireworks" have low ignition points and can be ignited with matches or lighters, which means that there is a fire hazard in the transportation, storage and sales process, and the burning speed is relatively fast, and once a fire occurs, it will spread rapidly.
"The temperature of the cold light fireworks nozzle is as high as 700℃ to 800℃, and the temperature of’ steel wool fireworks’ can reach 2000℃, which will not only burn the skin, but also ignite the surrounding combustibles when used." Yan Liping said.
It is worth noting that the reporter of "Rule of Law Daily" found in the interview that the public has misunderstandings about these two products.
The first is the name and classification. The "Rule of Law Daily" reporter found that many people don’t know what cold light fireworks and "steel wool fireworks" are. After the reporter of "Rule of Law Daily" showed the photos of cold light fireworks, some talents suddenly realized: "Isn’t this a flower? I used to play it when I was a child." "Steel wool fireworks" looks like a flattened steel ball for washing dishes. Few people know what it is. These people who don’t know even include the boss, courier and security inspector of the fireworks and firecrackers sales point.
Many interviewees will regard cold light fireworks and "steel wool fireworks" as one kind of items, and they all belong to fireworks and firecrackers. The reporter of "Rule of Law Daily" learned by calling Anhui Fireworks and Firecrackers Association and consulting relevant regulations that cold light fireworks and "steel wool fireworks" are actually not the same thing.
"Safety and Quality of Fireworks and Firecrackers" stipulates that fireworks and firecrackers are made of pyrotechnics as the main raw materials. After ignition, they will produce light, sound, color, shape, smoke and other effects by burning or exploding, which are used for viewing and are inflammable and explosive.
"Steel wool fireworks" is a filament-shaped low-carbon steel, which contains no smoke powder. It is a material mainly used for polishing stone materials, which has a low ignition point and will form a liquid state at high temperature, and belongs to flammable materials. Cold light fireworks are flammable and explosive, and have been included in the management of fireworks and firecrackers.
Secondly, safety awareness. The "Rule of Law Daily" reporter found that both sellers and buyers have weak awareness of fire safety.
In many online stores selling cold light fireworks and "steel wool fireworks", the introductions of merchants are "no danger" and "photographic props and artifacts". A shopkeeper said, just follow the instructions and online videos, but don’t wear down jackets or woolen fabrics. A consumer who has bought "steel wool fireworks" also thinks that it is ok to find a bigger open space and there will be no danger.
Can we set off cold light fireworks and "steel wool fireworks" in the future? Kou Liping said that according to the notice, cold light fireworks can still be sold and set off in areas where fireworks and firecrackers are allowed, but they should be managed in accordance with the Regulations on the Safety Management of Fireworks and Firecrackers.
Du Leqi, an associate professor at the Law School of Jiangsu University, also told the reporter of the Rule of Law Daily that according to China’s Regulations on the Safety Management of Fireworks and Firecrackers and the Regulations on the Safety Management of Hazardous Chemicals, the production, transportation, storage and sales of "steel wool fireworks", whether used as fireworks or flammable dangerous goods, should obtain administrative permission from relevant regulatory authorities.
The network platform is still on sale.
There are loopholes in the transportation link.
What is the current consignment situation of cold light fireworks and "steel wool fireworks"?
Shortly after the rectification request was put forward by the Office of the State Council Work Safety Committee on February 16th, the reporter of Rule of Law Daily went to Heping District, Hedong District, Hebei District and other urban areas in Tianjin for on-the-spot visits, and consulted the sales situation of some towns and villages in Tianjin, Lianyungang City, Zhenjiang City, Jiangsu Province and Suzhou City, Anhui Province by telephone and WeChat.
Through the summary of the news obtained, the reporter of "Rule of Law Daily" found that at present, for "steel wool fireworks", the fireworks stores in many cities are basically supervised, and the stores basically said that they have never received goods; For cold light fireworks, there are some cases of illegal purchase and sale of private goods in some areas where burning and releasing are prohibited, but this situation is rare.
What about the sales of some online stores and platforms with tens of thousands of sales and "online celebrity Fireworks" flooding?
The "Rule of Law Daily" reporter found that after the relevant notice was issued, cold light fireworks and "steel wool fireworks" have become prohibited words on several e-commerce platforms, and direct search has failed to find related products. However, using keywords such as "fairy wand", "online celebrity Fireworks" and "Hand-cranked Iron Mianhua" to search, you will find that there are still many stores selling, and most of these online stores can still deliver goods normally, and some online stores have more orders during the Spring Festival.
On February 17th, the reporter of Rule of Law Daily contacted a Taobao merchant who sold "steel wool fireworks". The store said that the logistics was updated normally, and now it can be delivered immediately, but it will not be sold after two days of strict management.
In the afternoon, the reporter of Rule of Law Daily tried to place an order for "15 pieces of steel wool fireworks with tools", and the next day it showed that it had been delivered successfully. On February 19th, the reporter of Rule of Law Daily found that the goods in the store had been emptied, so he contacted the seller again and said what to do if he wanted to buy it in the future. As a result, he received the address of the WeChat store (micro-store) sent by the seller. At present, the Taobao store has no goods on the shelves, but as of press time, the micro store can still buy and sell normally.
On February 22nd, the reporter of "Rule of Law Daily" received the goods normally, indicating that there were some tips on the paper, such as "You can pass the security check and take the train and plane".
In order to verify the seller’s statement, on the afternoon of receiving the goods, the reporter of Rule of Law Daily came to Jingjiang Road subway station in Tianjin. After explaining the purpose in advance, the reporter of Rule of Law Daily put some "steel wool fireworks" on his body and successfully entered the subway station without triggering the security alarm. Here, you can take Metro Line 2 directly to tianjin railway station, and you can get into the station directly without repeating the security check.
It is understood that X-ray detectors, portable detectors, detection inspection doors and other security equipment in railway stations, buses and subways can detect similar things; Aircraft security will be stricter, and "steel wool fireworks" may be detected.
According to the Regulations on the Administration of Prohibited Delivery of Articles, "steel wool fireworks" should belong to "explosive, flammable, corrosive, toxic, infectious, radioactive and other articles that endanger the delivery safety", and the delivery enterprises should strictly implement the acceptance inspection system and inspect whether the articles delivered by users belong to prohibited items on the spot according to law. However, the "Rule of Law Daily" reporter still received the goods normally.
The reporter of "Rule of Law Daily" observed that "fine vegetables" were written on the seal used to package the box of "steel wool fireworks". Wang, the person in charge of SF Express in Xiaoxian County, Suzhou City, Anhui Province, told the reporter of Rule of Law Daily that this situation may be caused by the seller telling the courier that it was vegetables or other items after packaging in advance, and the courier did not open the box for inspection.
Wang said that according to the formal process of express delivery, even if the package has been packaged, the courier should open the box for inspection after notifying the customer. Some things, such as "steel wool fireworks", may not be found during the express delivery; If the courier doesn’t know or the seller can’t tell what this kind of thing is, the courier should also refuse to send it in a serious and responsible manner.
Why do cold light fireworks and "steel wool fireworks" have these loopholes in production, transportation and sales?
Du Leqi believes that on the one hand, driven by interests, unlicensed enterprises produce, transport, store and sell these products in a more subtle way. For example, when selling, merchants will dilute or even cover up the commodity attributes of fireworks or flammable products, making it impossible for regulatory authorities to investigate and deal with such illegal acts quickly and efficiently, or the investigation cost is high; On the other hand, the contrast between the scarcity of regulatory power and resources and the susceptibility and multiplicity of illegal acts also weakens the effect of market supervision objectively.
Supervision in various places has increased.
How to properly handle the pending solution
It is understood that emergency bureaus, public security bureaus, State Administration for Market Regulation, transportation bureau, post office, fire rescue brigade and other departments have urgently carried out relevant activities to severely investigate and deal with the production, transportation, sale and discharge of cold light fireworks and "steel wool fireworks".
On February 18, Pingchang County, Bazhong City, Sichuan Province launched a centralized rectification campaign, investigated and dealt with 4 illegal acts of selling fireworks and firecrackers without a license, and confiscated 17 "time lanterns" of cold fireworks and more than 300 boxes of "golden electro-optic flowers"; Tianjin Dongli District Emergency Bureau set up four inspection teams to inspect 48 stores of various types, found 12 potential safety problems, rectified 12 on the spot, and investigated and dealt with one according to law (2 cold fireworks sticks were confiscated on the spot); Yang Junnan, a policeman from Taogou Police Station, Yongqiao Branch of Public Security Bureau of Suzhou City, Anhui Province, told the reporter of Rule of Law Daily that all kinds of fireworks sales stalls have become the product targets of the police, and at the same time, dealers’ purchase channels will be strictly controlled to ensure that these products do not flow to the market.
Du Leqi said that the relevant departments responsible for the supervision of the production, transportation and sales of fireworks and firecrackers should closely cooperate and share illegal information in the process of supervision and law enforcement while implementing their main supervisory responsibilities, so as to improve the efficiency and effectiveness of supervision; Safety supervision departments responsible for the production and operation of fireworks and firecrackers should cooperate with network platform operators to comprehensively investigate and crack down on illegal acts related to such products; The public security departments and other departments that supervise the transportation safety of fireworks and firecrackers should also cooperate with the express delivery industry regulatory agencies, industry associations and other subjects to block the transportation channels of such products.
It is worth noting that the rectification of "steel wool fireworks" should also avoid accidental injury to steel wool.
It is understood that steel wool is actually a polishing material, mainly used for grinding and polishing stone products, metal products and wood products. The rectification requirements put forward by the Office of the State Council Safety Production Committee mentioned that the normal production and supply of steel wool used in industrial production and residents’ life should be guaranteed to prevent simplification and "one size fits all".
What should I do with the cold light fireworks and "steel wool fireworks" that I bought online at home after the merchants properly removed the products? This problem also troubled the reporter of "Rule of Law Daily" who bought "steel wool fireworks".
Kou Liping said that the destruction of flammable and explosive materials is a highly professional job. She suggested that the cold light fireworks and "steel wool fireworks" stored at home should be handed in and destroyed by professionals.
But who to give the product to becomes a problem.
To this end, the "Rule of Law Daily" reporter contacted Tianjin Public Security Bureau, Tianjin Fire and Rescue Corps and Tianjin Hedong District Emergency Management Bureau respectively. The person in charge of the Public Security Management Corps of Tianjin Public Security Bureau said that according to the regulations, fireworks and firecrackers can be handed over to the public security department, but "steel wool fireworks" may belong to fire protection. The person in charge of the Fire Prevention Department of Tianjin Fire Rescue Corps said that no relevant notice was received on this matter. The person in charge of the relevant departments of the Hedong District Emergency Management Bureau in Tianjin said that the cold light fireworks and "steel wool fireworks" collected in the law enforcement of market supervision and other departments will be handled in a unified manner, but the voluntary surrender may be related to fire protection and public security.
The reporter of the Rule of Law Daily found through inquiry that according to the Regulations on the Safety Management of Fireworks and Firecrackers and the Regulations on the Safety Management of Hazardous Chemicals, the public security department is responsible for the public safety management of fireworks and firecrackers and hazardous chemicals. However, the "steel wool fireworks" are not fireworks and firecrackers. The person in charge of the relevant departments of China Chemical Safety Association told the reporter of Rule of Law Daily that the "steel wool fireworks" are not dangerous chemicals either.
So how to properly dispose of cold light fireworks and "steel wool fireworks" is still to be solved at present.
Reporting/feedback

In 2016, the auto industry proposal of the two sessions took stock of the automatic driving ladder, and the oil price became the focus.

　　[Global Network Comprehensive Report] The Fourth Session of the 12th Chinese People’s Political Consultative Conference will open at the Great Hall of the People at 3 pm on March 3, and the Fourth Session of the 12th National People’s Congress will also open on March 5.

　　In 2016, two national conferences were held, and proposals on the automobile industry were also released. There are not only forward-looking proposals on autonomous driving legislation, but also proposals on people’s livelihood such as oil prices.

　　According to the official news released by Geely Automobile, Li Shufu, member of Chinese People’s Political Consultative Conference and chairman of Geely Group, put forward three proposals at the two sessions: firstly, he suggested speeding up the legislation of autonomous driving; secondly, he cautiously and reasonably revised the law on the promotion of private education; and thirdly, he strengthened the tax management of e-commerce business transactions.

　　Li Shufu believes that motoring has brought new challenges and opportunities to the development of China automobile industry. It is urgent to judge the possible problems in advance and make legislative plans as soon as possible. This is because the legislation on autonomous driving has become a new international concern, and because of the complexity and uniqueness of China, it takes a certain period to amend a legislation or industry regulations. Therefore, starting to consider the legislation on autonomous driving as soon as possible will help to establish the norms of autonomous driving industry in China, promote the healthy development of the industry and guide social investment. Moreover, with the establishment of relevant legislation and industry norms, it can maximize the promotion of related industries to achieve cornering overtaking on the international stage in the "Made in China 2025" grand strategy.　

　　As for the content and formulation of autonomous driving legislation, Li Shufu believes that we should first study and analyze the current laws and regulations in China, identify and start to modify the relevant provisions that hinder the development of autonomous driving; Secondly, as a new technology, the final promotion of autonomous driving must be widely accepted by users; In addition, autonomous driving can achieve more significant social effects in solving traffic congestion and air pollution in large and medium-sized cities, and these areas are also in urgent need of autonomous driving; Finally, the development of autonomous driving requires comprehensive consideration of relevant industrial policies of legislation.

　　Coincidentally, the three proposals made by Chinese People’s Political Consultative Conference and Baidu CEO Robin Li also involved policies and regulations on driverless driving.

　　Li Yanhong said that driverless cars have great energy-saving potential, which has far-reaching significance in reducing traffic accidents, improving congestion, improving road and vehicle utilization, and can directly drive the rapid development of smart car aftermarket and other industries. At present, the development of global driverless technology is welcoming a new upsurge, and China enterprises are also actively deploying the core technology research and development and industrial application in the field of driverless. After years of accumulation, Internet companies such as Baidu have reached the international leading level in many key technologies of autonomous driving, such as traffic scene object recognition, high-precision mapping and positioning. However, compared with the continuous advancement of technology, China’s relevant laws and regulations still have a lot of room for adjustment for the development of driverless cars: on the one hand, the relevant industry standards, technical standards, laws and regulations and insurance of the existing automobile industry are not applicable to driverless cars; On the other hand, regulations on map content and surveying and mapping qualifications related to driverless cars also hinder the development of driverless cars.

　　In response to this problem, Li Yanhong suggested in the proposal that China should pay attention to driverless driving at the national level, make top-level design and scientific planning for the research and development and industrial application of driverless technology, and revise and improve laws and regulations related to driverless driving as soon as possible, so as to provide institutional guarantee for the research and development, testing and commercial application of driverless cars.

　　In addition to autonomous driving, which represents cutting-edge technology, people’s livelihood issues such as oil prices have also become the focus of auto industry proposals.

　

　　The reporter learned from the official of Great Wall Motor that the proposal of Wang Fengying, deputy to the National People’s Congress and president of Great Wall Motor, involved topics such as ladder pricing of vehicle fuel.

　　Wang Fengying analyzed the current development situation of automobile industry in China: the number of motor vehicles in China is close to 280 million, the number of private cars is over 140 million, and the number of cars per thousand people is about 117, which is close to the international average. Generally speaking, China has entered the automobile society in an all-round way. Moreover, China’s public demand for cars has not yet reached its peak, and the number of cars is bound to maintain a net growth of more than 10 million in the next 10-15 years. According to this trend, China will become a "country on wheels". By then, people’s mode of production and travel, choice of residence, urban and rural structure, lifestyle, leisure style, consumption structure and business model will also change. This change in the rhythm of social activities will also have a direct impact on social relations and other aspects.

　　At present, there is still a big gap between China’s "soft" environment of automobile society, especially the car-using environment and developed countries. The poor convenience of car owners and the heavy tax burden of all links directly restrict the operation efficiency of the automobile society and are not conducive to the development of China’s automobile society.

　　She pointed out a series of problems exposed with the growth of car ownership: the system setting of vehicle and vessel tax is unfair, which is not conducive to encouraging car owners to use less cars; The toll period of expressway is too long, which is beyond the reasonable scope, so it should be adjusted and optimized according to the urban development; The fuel price pricing mechanism is not linked to the intensity of vehicle use; The current vehicle annual inspection system is still unreasonable and there is a waste of social resources; Urban parking fee management is chaotic and inefficient, and the whereabouts of parking fees are unknown; Congestion fee collection needs forward-looking planning and corresponding legal and policy support.

　　In this regard, Wang Fengying’s suggestions are: increase the intensity of vehicle use and optimize the vehicle and vessel use tax system; Clarify the social and operational attributes of transportation infrastructure such as expressways, scientifically allocate resources, and create a fairer and more standardized car environment for car owners; Taking the vehicle intensity as an important charging standard, this paper explores the ladder pricing system of vehicle fuel to guide users to reduce the vehicle intensity; Supervision and use of "internet plus" and other technical means to improve vehicle traffic efficiency and improve parking management efficiency; Carefully collect congestion charges, and the decision-making process needs to be open and transparent; Revise and improve the laws, regulations and policies related to car use to create a more convenient car use environment for car owners.

　　As well as the oil price problem, there are also concerns about the new energy utilization of automobiles, the progress of energy conservation and emission reduction, and the process of green environmental protection. Recently, An Jin, deputy to the National People’s Congress and chairman of Jianghuai Automobile, said in an interview with the media that the most concerned issue is energy conservation and emission reduction.

　　An Jin said: "This year’s two sessions, in addition to studying Premier Li Keqiang’s government work report, accurately grasping the development trend of the country and industry under the new normal, and combining the 13 th Five-Year Plan with enterprise development, my most concerned topic is energy conservation and emission reduction." At the beginning of the interview, An Jin briefly and directly introduced the focus of the two sessions this year.

　　In Amgen’s view, there are at least two major issues in the adjustment of China’s industrial structure: innovation and green. A big country must have a high degree of innovation. If we can’t take the lead in innovation or catch up with it quickly, we can’t have competitiveness and the right to speak in the complicated political and economic environment.

　　It is not difficult to infer that Amgen’s proposal will focus on the development of innovative technologies, green cars and energy conservation and emission reduction.

Neusoft Group’s big car business is still losing money. The company hopes to have stable profits after the painful period ｜ Interpretation of financial report

Cailian News on January 29th (Reporter Wu Xin)The automobile industry is full of smoke, and Neusoft Group (600718. SH) carrying automobile genes turned losses into profits in 2023.

This evening, Neusoft Group released a performance forecast, predicting a net profit of 72 million to 86 million yuan in 2023 (a loss of 343 million yuan in 2022).

"The overall business of the company is growing healthily." The director of the company told reporters that there will be more strategic adjustments in 2024, and there will be corresponding actions in areas where new products are released, the state encourages and the company has advantages.

According to the announcement, Neusoft Group’s operating income in 2023 continued to grow steadily year-on-year, and its gross profit margin increased compared with the previous year. During the reporting period, the overall performance of Neusoft Medical, Neusoft Xikang, Wanghai Kangxin, Neusoft Ruichi, Rongsheng Insurance and other innovative business companies constructed by the company in the sectors of "Big Health" and "Big Automobile" decreased, but the net profit of listed companies and the net profit after deducting non-recurring gains and losses were still negatively affected.

The performance forecast shows that in 2023, the company deducted non-net profit from-140 million yuan to-115 million yuan.

Cailian reporter learned from Neusoft Group’s semi-annual report in 2023 that its smart car interconnection business achieved revenue of 1.606 billion yuan in 2023 H1, exceeding 40% of the total revenue. In this field, Neusoft Group provides a series of solutions from automotive electronics, automotive software, intelligent driving to intelligent transportation.

At present, "involution" is the main tone of the domestic automobile industry, with price-for-quantity as the main way of playing, which greatly reduces the profit space of automobile enterprises and affects the upstream and downstream of the industrial chain. According to the data of China Association of Automobile Manufacturers, from January to November 2023, the profit of automobile manufacturing industry was 448.98 billion yuan, a year-on-year increase of only 2.9%.

The above-mentioned company source said, "The related business is still relatively healthy, but the competition among car companies is fierce, and there may be some (impact), and other companies will definitely have some losses in gross profit margin."

"There are many new models now, but the market is biased towards saturation, which leads to the compression of the upstream and downstream profits of the entire industrial chain. There are still some influences, and we can’t escape from this area."

Looking forward to the market outlook, with the automobile industry going through the painful period and forming a new pattern, the upstream and downstream of the automobile industry chain are expected to enter a stable period simultaneously. A person from Neusoft Group said that the big waves will leave behind high-quality enterprises. At present, new car companies have been eliminated, and Neusoft Group will also achieve "stable profits".

(Cailian reporter Wu Xin)
Reporting/feedback

In 2023, China’s automobile export destination TOP10 was released, and Britain actually ranked fifth.

　　[CNMO News] In 2023, China became the world’s largest automobile exporter for the first time. Then, do you know where Chinese-made cars are mainly exported? According to CNMO, in 2023, Russia will be the largest destination for China’s automobile exports, and in addition, Britain will rank fifth, which is probably beyond many people’s expectations.

Automobile exit
Automobile exit

　　Recently, some organizations have counted the TOP10 destinations of China’s automobile exports in 2023 and previous years. In 2023, China’s total automobile export volume was 5,222,600 vehicles (inconsistent with the official data of "4,910,000 vehicles", but it did not affect the TOP10 ranking), with the largest export volume in Russia, followed by Mexico and Belgium. In addition, Australia and Britain have also entered the top five, and the export volume of the two regions is basically the same. Saudi Arabia, the Philippines, the United Arab Emirates and Spain also entered the top ten. Different from the inherent impression in many people’s minds, many of the TOP10 automobile exports are developed countries.

China Automobile Export Data (Tuyuan. com)
China Automobile Export Data (Tuyuan. com)

　　Looking back on 2017, Iran, the United States and Japan were the top three destinations for China’s automobile exports. In addition, Germany, Mexico, Britain, India and Russia were among the TOP10 in that year.

　　According to authoritative data, in 2023, China’s automobile production and sales exceeded 30 million vehicles for the first time, and the production and sales reached 30.161 million vehicles and 30.094 million vehicles respectively, up 11.6% and 12% year-on-year, reaching a record high and ranking first in the world for 15 consecutive years. Meanwhile, in 2023, China exported 4.91 million vehicles, up 57.9% year-on-year, ranking first in the world for the first time.

Reporting/feedback

How will new energy vehicles run in the next 15 years？ This document points out a new path of development.

　　New Energy Automobile Industry Development Plan (2021— In 2035), it is proposed that the core technology of China’s new energy vehicles should reach the international advanced level in 2035, and the quality brands have strong international competitiveness, and it is pointed out that it is necessary to improve the infrastructure system and improve the service level of charging infrastructure — —

　　Reporter Li He

　　New energy vehicles have become the main direction of the global automobile industry transformation and development, and also an important engine to promote the sustained growth of the world economy. For China, developing new energy vehicles is the only way to move from a big automobile country to a strong automobile country, and it is also a strategic measure to cope with climate change and promote green development. Since 2010, China’s new energy vehicles have grown rapidly at an average annual rate of double. In 2019, 1.06 million new energy passenger cars were sold, ranking first in the world for five consecutive years. With the development plan of energy-saving and new energy automobile industry (2012— After the end of 2020), how should China’s new energy automobile industry develop?

　　On November 2nd, General Office of the State Council announced the Development Plan of New Energy Automobile Industry (2021— 2035) (hereinafter referred to as "Planning") emphasizes the need to seize strategic opportunities, give full play to the advantages in infrastructure, information and communication, continuously enhance the core competitiveness of the industry, and promote the high-quality and sustainable development of the new energy automobile industry.

　　With strong competitiveness, the core technology has reached the international advanced level.

　　The Plan is divided into eight chapters, including five key tasks, five column tasks and five "three 5s" of safeguard measures. Xin Guobin, vice minister of the Ministry of Industry and Information Technology, said that as a programmatic document of the new energy automobile industry, the main highlights of the Plan can be summarized as "four new ones", namely, adapting to the new situation, adapting to new requirements, proposing new development paths and defining new development directions.

　　The new situation means that with the vigorous development of the new round of scientific and technological revolution and industrial transformation in the world, new energy vehicles integrate new energy, new materials, Internet, big data, artificial intelligence and other revolutionary technologies to promote the transformation of vehicles from simple means of transportation to mobile intelligent terminals, energy storage units and digital spaces, and promote the optimization of energy consumption structure, the improvement of transportation system and the intelligent level of urban operation; Emphasizing "market leading" requires giving full play to the decisive role of the market in resource allocation, strengthening the dominant position of enterprises in the selection of technical routes and the construction of production and service systems, giving full play to the role of the government in strategic planning and guidance, formulation of standards and regulations, quality and safety supervision, maintenance of market order, and green consumer guide, so as to create a good environment for industrial development.

　　The Plan proposes that by 2025, the competitiveness of China’s new energy vehicle market will be significantly enhanced, and the sales volume of new energy vehicles will reach about 20% of the total sales volume of new vehicles, and the long-term goal of "in 2035, the core technology of China’s new energy vehicles will reach the international advanced level, and the quality brands will have strong international competitiveness".

　　Xin Guobin said that at present, there is still a certain gap between new energy vehicles and traditional fuel vehicles in terms of purchase cost and charging convenience. To promote the goal that the sales volume of new energy vehicles will reach about 20% of the total sales volume of new vehicles in 2025, it needs to be promoted from both the supply and demand sides. On the supply side, it is necessary to continuously strengthen technical research around key factors such as reducing costs and improving safety, develop advanced, applicable and reliable products, and accelerate the formation of greater market competitive advantages; On the demand side, it is necessary to strengthen policy guidance, introduce preferential policies to encourage the use of new energy vehicles, optimize classified traffic management measures, encourage business model innovation such as power exchange, accelerate the electrification of vehicles in public areas, increase the promotion of new energy vehicles to the countryside, and continuously improve the user experience.

　　Cui Dongshu, deputy secretary-general of the National Passenger Car Association, said that in terms of power consumption, the Plan proposed that by 2025, the average power consumption of new electric passenger cars would be reduced to 12 kWh/100 km. This is 1 degree higher than the 11 kWh/100 km of its exposure draft. In essence, it is to encourage the development of high-end new energy and should give it more room for development.

　　Driven by innovation, deepen the "three verticals and three horizontals" R&D layout

　　Xin Guobin said that China’s new energy automobile industry has developed to this stage, and there are still problems such as weak core technology innovation ability, quality assurance system to be improved, lagging infrastructure construction, service model to be innovated and improved, imperfect industrial ecology, and increasing market competition.

　　Telly, director of the High-tech Department of the Ministry of Science and Technology, said that from the whole development experience of new energy vehicles, the supporting and leading role of scientific and technological innovation in its development is very obvious.

　　In order to promote the realization of the goal, the Plan puts forward the basic principle of "innovation drive" and the special chapter of "improving the ability of technological innovation", and also emphasizes deepening the layout of "three verticals and three horizontals". "Three verticals" refer to pure electric vehicles, plug-in hybrid electric vehicles and fuel cell vehicles, and "three verticals" refer to power batteries and management systems, drive motors and power electronics, networking and intelligent technologies.

　　"For the power battery, the core component of new energy vehicles, it will be deployed in advance in terms of new systems, new materials, new processes and new structures, and promote the development of power batteries in the direction of high specific energy and high safety; For fuel cells, we will focus on supporting core materials such as proton exchange membranes, catalysts and carbon paper, as well as key technologies related to hydrogen energy, and work hard on high performance, long life and low cost of fuel cells. " Telly said that around intelligence, networking and lightweight, we will speed up the layout of a new generation of information technology and focus on promoting the development of autonomous driving technologies and equipment such as vehicle control operating systems and computing platforms and vehicle-level chips; Strengthen the technical layout of new materials and support the research and development of silicon carbide power devices, lightweight materials and low-cost rare earth permanent magnet materials. We will increase support for scientific and technological innovation platforms such as the National New Energy Vehicle Technology Innovation Center, build a national strategic scientific and technological force for the national new energy vehicle industry, and provide support for the research and development of common key technologies in the industry.

　　Xin Guobin said that in addition to strengthening innovation drive, it also pays attention to standard guidance, which will promote the formation of a technical standard system based on vehicle-road coordination and reflecting Chinese characteristics. Accelerate the deployment of 5G communication base stations, promote the transformation and upgrading of intelligent roads, and organize manned loading tests and large-scale application demonstrations.

　　Improve infrastructure and promote the construction of charging and replacing network

　　China has built the largest charging network in the world. As of September this year, 42,000 charging stations and 525 power stations have been built nationwide, with 1.42 million charging piles of various types, and the ratio of vehicles to piles is about 3.1: 1.

　　"Charging and replacing electricity infrastructure is a key link in the development of new energy vehicles and an important support for industrial promotion. On the whole, compared with the promotion and application scale of new energy vehicles, the construction and development of charging facilities still cannot meet the needs of consumers, and it is necessary to increase construction efforts and optimize structural layout. " Xin Guobin said.

　　The Plan proposes to "improve the infrastructure system", promote the construction of the charging and replacing network, scientifically arrange the charging and replacing infrastructure, and strengthen the overall coordination with urban and rural construction planning, power grid planning and property management, and urban parking. Relying on "internet plus" smart energy, we will improve the level of intelligence, promote the charging service mode in residential areas with intelligent and orderly slow charging as the mainstay and emergency fast charging as the supplement, accelerate the formation of expressways and urban and rural public charging networks with moderate advance, fast charging as the mainstay and slow charging as the supplement, encourage the application of power exchange mode, and improve charging convenience and product reliability.

　　According to the data provided by the Ministry of Finance, in order to support local governments to speed up the construction of charging infrastructure, from 2014, the central government will give incentives to local governments to carry out charging infrastructure construction. So far, the central government has issued a total of 4.5 billion yuan of incentive funds, forming a development pattern of coordinated promotion between the central and local governments.

　　"In the past, users had mileage anxiety, and driving new energy vehicles could not run far, so they could only run in the city. Now, some expressways have built networked charging and power exchange facilities. " Xin Guobin said that to solve the mileage anxiety, in addition to continuing to increase the construction of charging piles, it is also necessary to consider the problem of making full use of existing charging piles. The existing information management technology can be used to bring all charging piles into a management platform and share them as much as possible. With the continuous expansion of market capacity, the construction layout of charging piles will be more scientific and standardized.

　　The Plan also proposes to improve the service level of charging infrastructure. Guide enterprises to jointly establish a charging facility operation service platform to realize interconnection, information sharing and unified settlement. Strengthen the research and development of technologies such as safety monitoring and early warning of charging equipment and distribution system, improve the safety, consistency and reliability of charging facilities, and improve the level of service guarantee.

What is the right tire pressure in winter？

In winter, the tire pressure adjustment of automobile tires should be based on the standard air pressure, and it should be appropriately raised by about 0.2bar to ensure driving safety.

Proper tire pressure is very important for automobile driving. Excessive tire pressure will reduce the friction and adhesion of tires, affect the braking effect, and may lead to steering wheel vibration and deviation, reducing driving comfort. At the same time, too high tire pressure will also accelerate the local wear of the central pattern of the tire and shorten the service life of the tire. In addition, too high tire pressure may also make the tire cord stretch and deform excessively, reduce the elasticity of the carcass, increase the load of the car while driving, and reduce the rolling resistance, thus increasing the risk of tire puncture.

On the other hand, too low tire pressure will also bring many problems. Too low tire pressure will increase the friction coefficient between the tire and the road surface, leading to an increase in fuel consumption. At the same time, too low tire pressure will make the steering wheel heavy and prone to deviation, which is not conducive to driving safety. In addition, too low tire pressure will also increase the amount of exercise in all parts of the tire, and excessive rolling will cause abnormal heating of the tire, reduce the functions of the cord and rubber, and cause damage such as delamination or cord breakage. In severe cases, too low tire pressure may also lead to a double increase in friction between the tire and the ground, a sharp increase in tire temperature, and a sharp decline in tire strength, which may eventually lead to a puncture.

Therefore, when adjusting the tire pressure of automobile tires in winter, the principle of standard air pressure and appropriate upward adjustment should be followed to ensure driving safety.

The stock market closed on the 6 th： the Shanghai Composite Index fell 5.58%, and more than 1,000 shares in the two cities fell.

　　Beijing, Beijing, May 6 (Xie Yiguan) On the 6 th, the three major stock indexes of A shares gapped lower and continued to fall in intraday trading. Individual stocks generally fell, and the industry sector was exhausted. The three major stock indexes all fell below the 60-day moving average, the Shanghai Composite Index fell below 3,000 points, and the risk was 2,900 points. More than 1,000 stocks in the two cities fell.

　　At the close, the Shanghai Composite Index dropped 171.88 points, or 5.58%, to close at 2906.46 points. The Shenzhen Component Index fell more than 700 points, down 7.56%, and then lost 9000 points after falling below the 10,000-point mark, closing at 8943.52 points. The Growth Enterprise Market Index fell 7.94%, falling below the 1600 and 1500 mark and closing at 1494.89. The turnover of the two cities in the whole day was 657.912 billion yuan, which was significantly enlarged compared with previous trading days.

　　Today, the A-share sector all fell green. Brokers in the industry sector almost fell, while telecom operations, IT equipment and software services were among the top losers, falling more than 8%. The banking sector with the smallest decline also fell more than 2%. In the concept sector, domestic software, 5G concepts and chip concepts fell by over 9%.

　　On the disk, the stocks in the two cities are generally falling, with only 109 stocks closing up, 3,467 stocks falling and 1,147 stocks falling. Among the limit stocks, the GEM has become a concentrated place, with over 300 GEM stocks falling. It is worth noting that there are more than 100 5G concept stocks among the stocks that have fallen below the limit.

　　Not only A shares, but also Hong Kong stocks were under pressure on the 6th. As of press time, the Hang Seng Index fell more than 3% to 29,062.57 points. The index of state-owned enterprises also fell more than 3% to 11161.9 points; The red chip index fell more than 2.9% to 4,483.47 points.

　　On the 6th, the central parity of RMB against the US dollar was lowered by 58 basis points to 6.7344, the lowest since February 20th. In the morning, the offshore RMB fell sharply against the US dollar, falling below the 6.80 mark and once rushing to 6.8211.

　　On the same day, the Central Bank of China announced that a lower deposit reserve ratio will be implemented for small and medium-sized banks from May 15, and about 1,000 county-level rural commercial banks can enjoy this preferential policy, releasing about 280 billion yuan of long-term funds.

　　It is worth noting that on the 6th, A-shares went northward with a net outflow of 5.188 billion yuan, including 3.072 billion yuan from Shanghai Stock Connect and 2.116 billion yuan from Shenzhen Stock Connect. In the past April, the net outflow of northbound funds was 17.997 billion yuan, the second highest in a single month in history.

　　However, MSCI’s first increase in the proportion of A shares from 5% to 10% will take effect at the end of May. CICC estimates that the proportion of passive funds may be around 20%, and about 20-30 billion yuan will enter the market around the end of May.

　　According to a recent report of CICC, the short-term pressure of A-shares has been released after previous adjustment, and the overall valuation is not high. Therefore, the future outlook of A-shares should not be overly pessimistic, and structural opportunities may still be positive, focusing on the general trend of consumption upgrading and industrial upgrading.

　　On April 30th, the National Bureau of Statistics and China Mining Association released data. In April, the purchasing managers’ index (PMI) of manufacturing industry was 50.1%, down 0.4 percentage points from the previous month, and remained in the expansion range. Guangfa Hang Seng believes that the structural contradiction of China’s economy still exists, and the economy is in transition to recovery, and the market will still repeatedly play games around theme stocks.

　　Some securities analysts believe that compared with before and after the Spring Festival, the market’s expectation of economic and policy trends is more uncertain. However, many institutions believe that although the unilateral rise in the first stage has passed, the safer configuration window in the market outlook needs to wait further, and the market is expected to enter the second stage.

　　Haitong Securities Strategy Team issued a document saying that this wave of adjustment since 3288 points of the Shanghai Composite Index belongs to the retreat after the first-stage valuation of the bull market has been repaired and increased. In the short term, the phased adjustment has not yet ended, and it is necessary to wait for the fundamental relay when the future rest ends and enters the second wave of the bull market.

　　Founder Securities pointed out that the next four weeks will still be an important observation window. In the first week after the May Day holiday, if the Zhouyang line can be closed, it will help to resolve the risk of further decline, which deserves special attention. (End)

It’s full of rain and heat in the summer, so let’s see where the ＂steamer mode＂ will be opened on the map of sauna days nationwide.

Today (July 7th), we entered the fifth solar term of summer-Xiaoshu. As the saying goes, "it’s a little summer, but it’s a big summer." The arrival of the summer solar term means that China is about to enter the wettest and sultry period of the year. China Weather Network specially launched a map of sauna days nationwide to see where the "steamer mode" will be opened.
Jiangnan is hot as a "steamer", and the Qinghai-Tibet Plateau has no "steaming" in the world.
Entering the summer solar term, everything is flourishing and the summer heat is transpiration. The temperature in all parts of our country continues to rise, and the precipitation also increases obviously. The north and south of the Yangtze River have entered the stage of high temperature and high humidity in a year, and the most difficult sauna day model has been opened.
According to the map of the national sauna days launched by China Weather Network, during the annual summer solar terms, sauna days are most likely to appear in Jiangxi, Fujian, Zhejiang and other places, and more than half of the time in 15 days, they have to endure the steamboat-like sultry feeling; In Guangdong, central Guangxi, Hainan, Hunan, Hubei, Henan, central and southern Hebei, southwestern Shaanxi, northern Chongqing and other places, the number of sauna days can also reach 5 to 8 days, which is unbearable; The number of sauna days in the eastern part of Southwest China, North China, the eastern part of Huanghuai and other places is less than 5 days, and there are fewer days in most parts of Northeast China, Shandong Peninsula and parts of Xinjiang, which is less than two days. Such hot and humid weather can barely withstand it; Tibet, Qinghai, Gansu and other places did not have sauna days during the summer solar term, and there was no "steaming" in the world, which was really enviable. Although there were no sauna days in southern Xinjiang and western Inner Mongolia, they had to undergo the "baking test" of dry heat.
Light summer weather | Rain and heat are abundant, and typhoons are active
After a slight summer heat, it is hot for three points a day. Affected by the monsoon climate, rain and heat are in the same season in many places in China. During the summer heat season, both precipitation and temperature began to show extremes, and the weather gradually changed from dry heat to sultry heat, and the "sauna mode" was opened.
"It’s summer day and night." Shortly after entering the summer solar term, the hottest dog days of the year will also kick off. The heat wave is rolling, refreshing and hard to find, and all-weather heat has become the norm. Especially in the south, the lowest temperature sometimes even exceeds 30℃, and it is hot day and night, with no chance to breathe.
With the help of summer heat, China’s summer area has further expanded, reaching about 5.25 million square kilometers. Although it has not reached the maximum, there is little room for further development.
"The bamboo is raining first, and the mountain is already thundering." Slight summer is the solar term with the most precipitation in the whole year, and it is also the season with frequent thunderstorms. With the subtropical high moving northward, the "main battlefield" of precipitation in China gradually shifted northward, and the rainy season in the middle and lower reaches of the Yangtze River ended, and the rainy season in the north began one after another.
During the summer heat, typhoon activities also entered an active period. According to statistics, the summer solar term is the solar term with the largest number of typhoons landing in China, which mainly affects Guangdong, Taiwan Province, Fujian, Hainan and other places, and these places have gradually entered the critical period of typhoon prevention in a year. At this time, there are many powerful typhoons landing in China, including the strongest typhoon "rammasun" landing in China since 1949.
Slight summer phenology | The warm wind has arrived, and everything is crazy.
There are three stages in the summer, one is when the warm wind comes, the other is when the cricket lives in the space, and the third is when the eagle begins to gather. At this time, there is no longer a cool breeze on the earth, and almost all the winds are full of "enthusiasm". Because of the heat, the cricket left the field and came to the corner of the courtyard to escape the heat. The eagle also chose to fly to the cool high air for activities.
There is also hope for a bumper harvest in the heat of a little summer. In the summer, plenty of sunshine and abundant rain are conducive to the growth of everything. At this time, special attention should be paid to field management such as preventing high temperature and heat damage, drought, waterlogging and pests.
Light summer custom | Eating and drinking in midsummer is the most enjoyable thing.
"Eating and drinking in midsummer is the most enjoyable thing." The summer solar terms and the dog days have come one after another, and people who are troubled by the summer heat often feel poor appetite, so they will prefer cool and refreshing food.
In the north, there is a food custom of "jiaozi on the head, two on the face, pancakes and eggs on the three feet". Eating a plate of vegetarian stuffing on jiaozi’s head is not only appetizing, but also a symbol of full blessing. In the south, Xiao Shu pays attention to eating "three treasures"-Monopterus albus, lotus root and mung bean sprouts, which are cool and cool. There is also the custom of "eating new things" in the southern summer heat. Every household eats new rice and tastes new wine to thank the natural gifts and celebrate the grain harvest.
"The wind moves the lotus to make it fragrant, and the heart is calm and naturally cool." In the summer, it is hot and warm, but there is no lack of pleasant summer time. Let’s calm down, watch the fireflies flying, listen to the cicadas, smell the lotus fragrance in the wind, taste the tea in the cup, and greet the extreme heat with leisurely warmth.
Source: China Weather Network
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Overseas investors increase the allocation of China stock market-international institutions cast a ＂vote of confidence＂ in China market.

　　Recently, a number of international investment institutions, including Morgan Stanley and Goldman Sachs, have been "singing more" on the China stock market, and many institutions have even taken out "real money and silver" to buy more China assets.

　　Experts said that with the implementation of a series of steady growth measures in China and the accelerated optimization of epidemic prevention and control measures, the expectation of China’s economic stabilization and rebound has become clearer, attracting international institutions to re-examine the allocation value of China’s assets. In the future, under the background of China’s deepening the high-level institutional opening-up of the capital market, the efforts of international institutions to "buy in buy buy" are worth looking forward to.

　　Institutional upward adjustment expectations

　　Recently, a number of overseas investment institutions have increased their allocation to the China stock market.

　　On December 4th, Morgan Stanley upgraded the China stock market from "standard" to "over-allocation", and it is predicted that the MSCI China Index will rise by 14% by the end of 2023. Wang Ying, chief equity strategist of Morgan Stanley China, said that the evaluation framework shows that the prevention and control measures of China epidemic are continuously optimized, the real estate market is stabilized, and the regulatory adjustment is in the final stage, so the stock risk premium may be improved, so the target price for the entire China market is raised, and there is a greater chance of revaluation by 2023.

　　Coincidentally, on November 30, Goldman Sachs also said that it would also give a proposal of "high allocation" for A-share investment in 2023, and it is expected that the valuation of A-shares will rebound significantly. Liu Jinjin, chief China equity strategist of Goldman Sachs, said that under the expectation that the macro-control is intensified and the GDP growth rate is expected to pick up, we are optimistic about the performance of China stocks listed at home and abroad.

　　Bank of America’s strategy team believes that China’s domestic stocks are bound to rise due to the excess savings of China residents and the continuous optimization of epidemic prevention policies. Rui Dalio, the founder of Bridgewater, believes that some valuable assets can be found in the China market at present. China is the second largest economy in the world, and investors can improve their diversification by investing in China.

　　The support of international institutions is not groundless. Recently, the overseas listed China ETF, China Stock Exchange and offshore RMB exchange rate all ushered in a wave of solid rise, which enhanced the confidence of foreign institutions to invest in China. For example, since November, the net value of iShares MSCI China ETF with a scale of over $7 billion has increased by over 30%; NASDAQ Jinlong China Index rose by more than 40% in November, the largest monthly increase since records began in 2003. The RMB exchange rate has also recently gone out of a strong upward trend. On the morning of December 5, the offshore RMB exchange rate against the US dollar rose to 6.9813, the highest since mid-September.

　　"At present, some major economies continue to tighten monetary policy, the risk of economic recession has intensified, and market return expectations have weakened. In contrast, China has a stable economic development and clear investment logic. " Li Zhan, chief economist of China Merchants Fund Research Department, analyzed that China’s economy is changing from high-speed growth to high-quality development, and there are a lot of investment opportunities in the process of industrial upgrading and consumption upgrading in various industries. At the same time, China recovered quickly from the impact of the epidemic, and its economy rebounded significantly in the third quarter, and its position in the global industrial chain was rising day by day. In addition, China’s financial opening to the outside world has been continuously promoted, and the channels for foreign investors to participate in the domestic financial market have been continuously optimized, attracting the attention of more and more international investors.

　　The attractiveness of A shares has increased.

　　In addition to high-profile "singing more" China assets, foreign investors also took out "real money and silver" and continued to substantially increase their positions in A shares. As of December 6, the net purchase of northbound funds in 30 days exceeded 75 billion yuan, and the net purchase in the past 10 days reached 42.8 billion yuan.

　　Looking forward to 2023, the market expects that the pace of foreign investment "buying in buy buy" will continue to accelerate. "In 2022, nearly 70% of the financing amount in the A-share market comes from science and technology innovation board and the Growth Enterprise Market, which fully reflects the support of the capital market for technological innovation enterprises and emerging industries." Sun Jin, a partner of PricewaterhouseCoopers China Comprehensive Business Services Department, said that in 2023, with the steady progress of the comprehensive registration system reform and the introduction of more measures to support scientific and technological innovation, the international attractiveness of the A-share market will be further enhanced.

　　As for the investment industry, the strategy team of Goldman Sachs believes that with the implementation of policies and measures to stabilize growth and the continuous optimization of epidemic prevention and control measures, the unemployment rate in China will drop, labor income will improve, consumer confidence will be restored, and consumer services, medical equipment and service sectors will rebound strongly, especially in tourism, catering, entertainment and aviation industries.

　　"Next, the geopolitical situation will enter a relatively calm stage, and the equity cost and equity risk premium will gradually decline, which will help investors reinvest in the China stock market. The consumer sector is the beneficiary of economic opening up. We further increase our exposure to this sector and continue to suggest increasing the allocation of offshore China stocks. " Wang Ying said.

　　In order to better attract foreign investment into the China market, Tian Lihui, president of the Institute of Financial Development of Nankai University, believes that it is necessary to persist in promoting the high-level institutional opening-up of the capital market and make overall plans for development and security. It is necessary to continue to expand the interconnection quota, continuously increase the variety of international products, gradually liberalize the restrictions on foreign-funded shares of financial institutions, and continue to promote the internationalization of the RMB. At the same time, the capital market should be opened to the outside world with gates, there should be room for trading rules, and market supervision should be real-time and prudent to prevent foreign hot money speculation and prevent the spread of foreign financial risks.

　　Fang Xinghai, vice chairman of China Securities Regulatory Commission, also said recently that high-quality overseas capital market institutions are welcome to invest and exhibit in China. In the future, we will further improve the institutional framework for opening up the capital market, accelerate the implementation of various opening-up measures, and attract and gather more outstanding international institutions and talents to participate in China’s capital market. We will continue to improve relevant institutional arrangements, further facilitate cross-border investment by domestic and foreign investors, and better support cross-border financing development of enterprises.

　　Competing for exhibition industry in China

　　Since the beginning of this year, the policy dividends to further improve the convenience of foreign investment in China’s assets have been released intensively, giving foreign institutions a "reassurance" to enter the China market.

　　On April 26th, the CSRC issued the Opinions on Accelerating the High-quality Development of Public Offering of Fund Industry, proposing to support high-quality overseas financial institutions with long-term investment will to set up fund management companies or expand the shareholding ratio. On November 18th, the People’s Bank of China and the foreign exchange bureau jointly issued the Regulations on Fund Management of Foreign Institutional Investors’ Investment in China Bond Market, which improved and clarified the requirements for fund management of foreign institutional investors’ investment in China Bond Market.

　　The convenience of foreign-funded institutions’ exhibition industry in China has been continuously improved, and the business scope and regulatory requirements have achieved national treatment. At present, more than 10 foreign-controlled or wholly-owned securities fund futures companies, such as JPMorgan Chase, Goldman Sachs, Nomura and UBS, have been successively approved, and foreign banks such as Standard Chartered Bank have obtained fund custody qualifications in subsidiaries in China. Foreign private equity funds such as Qiaoshui and BlackRock have successively set up 38 wholly-owned subsidiaries.

　　On November 25th, Lubomai Fund announced that it had obtained the Public Offering of Fund business license issued by China Securities Regulatory Commission, becoming the second wholly foreign-owned fund management company newly established in China to conduct Public Offering of Fund business. Lubomai Fund said that the continuous opening of the financial market and the increasingly perfect business environment ruled by law have further enhanced Lubomai’s confidence and hope to further integrate into the development of China’s capital market in the future.

　　A number of foreign-funded institutions have started to exhibit in China. At the end of October, ICBC Wealth Management of Goldman Sachs, which was approved to open in June this year, launched the first wealth management product "Shengxin Junzhi Private Bank Enjoy Quantitative Equity Wealth Management Product Phase 1", with a maximum fundraising scale of 5 billion copies. Goldman Sachs ICBC Wealth Management previously said that after the deep correction in the previous period, the value of A shares is becoming prominent, and there is a large room for long-term holding.

　　As the first wholly foreign-owned public offering, BlackRock Fund has issued three equity funds and one "fixed income+"fund since it was approved in June 2021, and its products are diversified. Lu Wenjie, investment director of BlackRock Fund, said that A-shares are a market with great breadth and depth, wide investment scope, many related target companies and good liquidity. With the continuous strengthening of China’s opening to the outside world, it is believed that the integration of the global market and the China market will be a long-term trend.

　　"More outstanding international institutions entering the A-share market are investing in China’s economic growth prospects and the profitability of China enterprises ‘ A vote of confidence ’ Being able to form a healthy competitive interaction with domestic institutions is conducive to expanding the breadth and depth of China’s capital market, and is also conducive to the continuous improvement of service capabilities of related industries and helping China’s economic development. " Tian Lihui said.