CCTV News:On the afternoon of June 27th, the Propaganda Department of the CPC Central Committee held a series of press conferences on the theme of "China this decade". Deng Xiaogang, Vice Minister of Agriculture and Rural Affairs, Hong Tianyun, Deputy Director of the National Rural Revitalization Bureau, and Zeng Yande, Chief Agronomist of the Ministry of Agriculture and Rural Affairs and Director of the Development Planning Department, introduced the situation of rural revitalization in the new era and answered questions from reporters.

Deng Xiaogang, Vice Minister of Agriculture and Rural Affairs, said that in the past ten years, agricultural and rural departments at all levels have made every effort to promote the development of rural industries and consolidate the material foundation for rural revitalization, and achieved remarkable results.

In the past ten years, the processing and circulation of agricultural products has been accelerated. A total of 156,000 primary processing facilities and more than 50,000 cold storage and fresh-keeping facilities have been built. The conversion rate of agricultural products processing reached 70.6%, and the operating income of agricultural products processing enterprises was nearly 25 trillion yuan.

In the past decade, rural leisure tourism has developed steadily. More than 1,000 boutique routes were introduced, with more than 300,000 leisure farms, sightseeing agricultural parks and farmhouses nationwide, and the annual operating income exceeded 700 billion yuan.

In the past ten years, new industries and formats in rural areas have flourished. There are more than 30,000 agricultural-related e-commerce, more than 2 trillion yuan in rural online retail sales and more than 420 billion yuan in online retail sales of agricultural products. Created a number of "township name" and "local name" brands.

In the past ten years, the integration and development of rural industries has gradually become a trend. A total of 140 industrial clusters with advantages and characteristics, 250 national modern agricultural industrial parks, more than 1,300 strong agricultural industrial towns and more than 3,600 "one village, one product" demonstration villages and towns have been created.

In the past ten years, rural innovation and entrepreneurship have become increasingly active. Nearly 2,200 rural innovation and entrepreneurship parks and incubation training bases have been built, and a total of 11.2 million people have returned to their hometowns to innovate and start businesses, with an average of 6-mdash; 7 people have stable employment, 15-mdash; 20 people are employed flexibly.

Deng Xiaogang introduced that the next step will be to promote farmers’ employment and increase income as the basic orientation of rural industrial development, and make a fuss about expanding various functions of agriculture and tapping the diversified values of rural areas, leaving more employment opportunities and value-added benefits of industrial chains to farmers. The key point is to promote the "four industries".

What are the "four industries"? First, develop industries that enrich the people and continuously promote the upgrading of rural industries. The second is to promote rural entrepreneurship, bring employment through entrepreneurship and increase income through employment. The third is to guide investment and promote farmers to get rich together. The fourth is to promote farmers’ employment, so that farmers can find jobs nearby at home, and at the same time, continue to support and guide farmers to go out to work and find jobs.

　　Road networks are criss-crossed, routes reach the whole world, goods flow smoothly, and travel is comfortable and convenient … … A mobile China is full of vitality for prosperity and development.

　　General Secretary of the Supreme Leader stressed: "It is necessary to build more and more advanced aviation hubs, improve the comprehensive transportation system, and accelerate the construction of a transportation power."

　　Since the 18th National Congress of the Communist Party of China, under the strong leadership of the CPC Central Committee with the Supreme Leader as the core, China’s transportation industry has made historic achievements and undergone historic changes, and the modernization level of transportation in some areas has ranked among the world’s advanced ranks and is striding towards a transportation power.

　　Adhere to the traffic first, and the comprehensive three-dimensional traffic network is improving day by day.

　　Since the beginning of this year, the construction of major transportation projects in various places has been non-stop, and the "progress bar" has been constantly refreshed — —

　　In the North China Plain, expressways have been speeded up to form a network. The construction site of Zunqin section of Beijing-Qinhuangdao Expressway is in full swing, construction machinery is working intensively, and heavy trucks are shuttling back and forth, striving to complete it before the end of this year. Beijing-Tianjin-Hebei coordinated development, and the traffic integration of the three places ran out of acceleration.

　　On the coast of the South China Sea, the construction of cross-sea passages is busy. The immersed tunnel has completed the sinking and docking of 24 pipe joints, the construction of artificial islands in the east and west has been promoted in an orderly manner, and the superstructure construction of Lingdingyang Bridge has been carried out … … After the Shenzhen-China Passage is opened to traffic, it will add a fast new passage to Guangdong-Hong Kong-Macao Greater Bay Area’s "one-hour life circle".

　　The snowy plateau, sichuan-tibet railway continues to extend. This project with the most complicated topographic and geological conditions in the history of railway construction in the world started at the end of last year, and reached its climax in the first quarter of this year. After the completion of the project, it will inject strong kinetic energy into the economic and social development of the western region, especially Sichuan and Tibet provinces.

　　Since the 18th National Congress of the Communist Party of China, the national comprehensive three-dimensional transportation network, which is based on railways and highways, and gives full play to the comparative advantages of civil aviation and water transport, has been accelerated and improved, and has stood up as the development skeleton of a big country.

　　The highway is getting denser and denser. By the end of 2021, the total mileage of national highways was about 5.28 million kilometers, and the highway density was about 55 kilometers/100 square kilometers. Among them, the total mileage of expressways is nearly 170,000 kilometers, ranking first in the world, accounting for about 3.2% of the total mileage of highways.

　　Railways extend in all directions. By the end of 2021, China’s railway operating mileage exceeded 150,000 kilometers, of which the high-speed rail operating mileage exceeded 40,000 kilometers, accounting for more than two-thirds of the world’s high-speed rail operating mileage. Since the 18th National Congress of the Communist Party of China, 134 counties have ended the history of being closed to railways, and 204 counties have entered the era of high-speed rail.

　　Extensive coverage by air. By the end of 2021, there were 248 transportation airports in China. Aviation services have covered 83% of the population in poverty-stricken areas, and the airports in poverty-stricken areas have at least one flight every day to connect with the regional hub airports in the provincial capitals, and they can reach the international hub airports at most once.

　　Water transport is more developed. By the end of 2021, the ports in China had more than 20,000 berths for production terminals, including more than 2,600 berths of 10,000 tons and above, accounting for 12.7% of the total berths, ranking first in the world. The navigable mileage of inland waterways has reached 128,000 kilometers, and the Yangtze River has become the busiest golden waterway in inland waterway transportation in the world.

　　"At present, ‘ 6 axes, 7 corridors and 8 channels ’ The main skeleton space of the national comprehensive three-dimensional transportation network has been initially formed, and various modes of transportation have gradually changed from relatively independent development to more emphasis on integrated development, realizing the transition from ‘ Bottleneck restriction ’ To ‘ Basic adaptation ’ Go to ‘ Moderately ahead ’ The transformation has provided a solid guarantee for building a well-off society in an all-round way and building a modern economic system. " Li Xiaopeng, Minister of Transport, said.

　　Adhere to innovation and lead, and steadily improve the scientific and technological strength of transportation.

　　"I feel very happy!" During the Beijing Winter Olympics, the Beijing-Zhangjia high-speed railway won praise from foreign athletes. The Beijing-Zhangjia high-speed railway, which was put into operation on December 30, 2019, is the first intelligent high-speed railway in the world to adopt Beidou satellite navigation system and realize automatic driving and other functions. After years of development, the technology of high-speed EMU in China has been fully autonomous, standardized and serialized.

　　Innovation is the first driving force for development. Since the 18th National Congress of the Communist Party of China, China’s transportation innovation capability has been continuously improved, and its strength level has reached a new level.

　　— — Major projects show extraordinary strength.

　　On October 23, 2018, the Hong Kong-Zhuhai-Macao Bridge, the world’s longest sea-crossing bridge, was completed and opened to traffic. Faced with the engineering technical problem of immersed tube tunnel construction, the builders started from scratch and overcame difficulties, independently developed and manufactured submarine immersed tubes, and successfully placed 33 immersed tubes one by one.

　　On June 25th, 2021, Lalin Railway, the first electrified railway in Xizang, was put into operation, which historically realized the coverage of Fuxing EMU to 31 provinces. More than 90% of the lines run above 3000 meters above sea level, and the whole line crosses the Yarlung Zangbo River 16 times, with a bridge-tunnel ratio as high as 75%… … Builders have successively overcome a series of difficult problems and created a miracle of plateau railway construction.

　　Over rivers, lakes and seas, canyons and mountains, in the past 10 years, a number of super-large transportation projects, such as Beijing-Xinjiang Expressway, Beijing-Zhangjia High-speed Railway, Beijing Daxing International Airport and Shanghai Yangshan Port Automation Terminal, have been completed and put into operation one after another, and China’s transportation infrastructure has won world attention.

　　— — Major breakthroughs have been made in equipment manufacturing.

　　Blue sea and blue sky, tower cranes are everywhere, automatic guided transport vehicles shuttle back and forth, and containers rise and fall. On March 12th, in the operation of "Venus by Japan Post", the single crane operation efficiency of Qingdao Port automatic wharf in Shandong Port reached 52.7 natural boxes/hour, setting a new world record. In recent years, the promotion of automated terminals in China has been accelerated, and the loading and unloading efficiency of specialized terminals in major coastal ports and the container throughput of 100-meter coastline are leading in the world.

　　The domestic large-scale amphibious aircraft AG600 successfully made its first flight on the water, and the 23,000 TEU dual-fuel container ship was successfully delivered. The first domestic large-scale cruise ship floated in the dock & HELIP; … In the past 10 years, technological innovation and broad traffic application scenarios have converged, which has promoted the manufacturing level of China’s transportation equipment significantly.

　　— — Transportation equipment is greener and lower carbon.

　　In 2021, it sold 3.521 million vehicles, up 1.6 times year-on-year, ranking first in the world for seven consecutive years … … After more than 10 years of development, the upstream and downstream of China’s new energy automobile industry chain have been effectively connected, and the level of industrial development is at the forefront of the world. In the fields of urban public transport, taxis and freight distribution, more than 1.2 million new energy vehicles are used.

　　In the past 10 years, China’s transportation structure has been continuously optimized, and its transportation equipment has become more "full of green": the coverage rate of shore power facilities of five types of key specialized berths has reached 75%; The national railway electrification rate is nearly 73%, and the annual consumption of national railway fuel has dropped by 60%; The elimination of operating diesel trucks was carried out in an orderly manner, and the level of vehicle cleanliness was gradually improved.

　　Adhere to the traffic world and provide strong support for high-quality development.

　　On February 28th, with the hoisting operation of the vessel "Venus Bright" berthed at the container terminal of Tianjin Port, the first direct shipping route between Tianjin and Australia was officially opened, shortening the shipping time between the two places from the original 35 days to 45 days to 21 days.

　　Maritime transportation, which bears about 95% of China’s foreign trade cargo transportation volume, is an important force in "traffic the world". In the past 10 years, China’s port service capacity and infrastructure level have been continuously improved, and the maritime service network has been continuously improved. At present, China is the economy with the highest maritime connectivity and the largest trade volume of goods in the world, and the waterway international transportation routes travel to and from more than 100 countries and regions. By the end of 2020, the shipping fleet will reach 314 million deadweight tons, ranking second in the world, and the international shipping volume will account for about one third of the global shipping volume.

　　On the vast sea, ocean-going ships shuttle back and forth; On the Eurasian continent, China-Europe trains are running endlessly. From 2016 to 2021, the annual transportation value of China-Europe trains increased from US$ 8 billion to US$ 74.9 billion, and its proportion in the total trade between China and Europe increased from about 1% to about 8%. Especially since the outbreak of the COVID-19 epidemic, China-Europe trains reaching 180 cities in 23 European countries have made positive contributions to ensuring the stability of the global industrial chain supply chain and promoting the high-quality development of the "Belt and Road".

　　Today, China is the world’s busiest transportation city. At present, China’s railway passenger turnover and freight volume, road passenger and freight volume and turnover, waterway freight volume and turnover all rank first in the world, port cargo throughput and container throughput rank first in the world for more than 10 years, civil aviation transportation turnover, passenger turnover and cargo and mail turnover rank second in the world, and express delivery business ranks first in the world.

　　The developed transportation network with smooth internal and external communication has opened up the "aorta" and unblocked the "microcirculation", which has strongly supported the high-quality economic and social development.

　　Smooth circulation and promote openness. On December 3rd, 2021, after five years of construction, the whole line of China-Laos Railway was put into operation. By April 3, 2022, China-Laos Railway had sent 2.254 million passengers and 1.31 million tons of goods, showing a booming trend of passenger and cargo transportation. The "two major" highways in the China-Pakistan Economic Corridor have been successfully completed and opened to traffic, the ports such as Gwadar Port in Pakistan are operating well, and the position of Piraeus Port in Greece as the largest port in the Mediterranean is further consolidated … … In recent years, the "Belt and Road" transportation interconnection has been steadily promoted, and the structure of "six corridors, six roads, many countries and many ports" has basically taken shape.

　　Promote industry and benefit people’s livelihood. "The express delivery point directly drives to the edge of the fruit forest, and the transportation of navel oranges is becoming more and more convenient and the sales are getting wider and wider." Zhou Gongshou, a fruit farmer in Zigui County, Hubei Province, felt that the improvement of traffic conditions made the people more emboldened to increase their income and get rich. Today, 60,000 tons of navel oranges in Zigui County are sold all over the country by express delivery. In 2021, China’s rural areas received 37 billion express parcels, driving agricultural products out of the village and into the city and industrial products into the village to exceed 1.85 trillion yuan.

　　"In the new era and new journey, we will adhere to the principle of serving the overall situation, putting people first, pioneering and innovating, giving priority to ecology, and making the world accessible, focusing on building ‘ National 123 Travel Traffic Circle ’ ‘ Global 123 Fast Freight Flow Circle ’ , promote the fast and convenient travel service, ensure the stable and smooth logistics supply chain, and accelerate the realization of ‘ People enjoy their actions and things flow smoothly ’ Continue to get good grades on the new road to the exam. " Li Xiaopeng said.

1905 movie network news The well-known "social fear king" was caught by netizens a few days ago, capturing the behavior of "social fear", but this time it did not appear in expression management, but — — Toes.

A few days ago, Tony Leung Chiu Wai took a group photo with the chef of the sushi restaurant after eating in a famous Japanese restaurant. In the photo, Tony Leung Chiu Wai is wearing a white shirt with a shy smile on his face; Carina Lau was wearing a black patchwork floral skirt, and the husband and wife stood on both sides of the master and took a group photo. However, eagle-eyed netizens found that Tony Leung Chiu Wai’s toes were strangely bent and dug at the moment of "freezing", and his honest physiological reaction amazed netizens.

After the photo was exposed, netizens left messages about Tony Leung Chiu Wai’s "social terror-style digging", saying: "Cute to death", "I’m about to be laughed to death by the social terror film emperor", "I’m really embarrassed to scratch the ground with my toes" and "inexplicably cute", but some curious netizens made funny guesses: "Is it possible that his toes are better than yeah?"

　　China Daily Online, February 24 (Xinhua) On the 23rd local time, the US Department of Justice issued a statement saying that it would terminate an initiative aimed at cracking down on China during Trump’s administration. Critics point out that the so-called "China Action Plan" is tantamount to racial profiling and creates a culture of fear in the field of scientific research, which should be abolished.

　　The Associated Press reported on 23rd that the US Department of Justice announced on Wednesday that it had decided to terminate the so-called "China Initiative". Earlier, American academic circles constantly criticized that the project had frozen normal academic cooperation and encouraged anti-Asian racial prejudice.

　　Matthew Olson, Assistant Secretary of Justice, said he must respond to the concerns he heard, including those from Asian-American groups. "We have heard the concerns of civil rights groups, who think that ‘ China Action Plan ’ It encourages intolerance and prejudice. With the increase of crimes and incidents against Asia, these concerns have increased. "

　　Olson said that academic and scientific circles are paying more and more attention to the investigation of some cases of the Ministry of Justice. These lawsuits and the atmosphere of public opinion created may bring a chilling effect to scientists and scholars.

　　"By classifying the case into the scope of the China Action Plan, we have encouraged a harmful view that (the Ministry of Justice) has adopted a lower standard in investigating and prosecuting criminal acts related to China, or that we have treated people with racial, ethnic or family relations with China in a different way to some extent."

　　In November 2018, during the Trump administration, the US Department of Justice launched a so-called "China Action Plan" aimed at cracking down on so-called economic espionage and trade secret theft.

　　According to CNN, the Asian American Association for Justice (AAJC) issued a statement on the same day, saying that the end of the China Action Plan is an important step to end the periodic and historical racial discrimination against Asian Americans and immigrants.

　　The New York Times reported that critics said that including such cases in the crackdown plan that seriously endangered national security would prompt investigators to unfairly target Asian professors, making people mistakenly think that everyone who hides relations with China is a spy.

　　Previously, many cases against Chinese scholars ended in innocence or dismissal. In a high-profile failure case, prosecutors dropped the charges against Chen Gang, a professor of mechanical engineering at MIT, after the Department of Energy said that his failure to disclose his relationship with China would not affect his funding application.

　　In response to the statement made by the US Department of Justice to terminate the "China Action Plan", Chinese Congressman Zhao Meixin issued a statement saying that the plan ruined the career of Asian Americans, prevented Asian Americans from pursuing academic majors such as science, technology, engineering and mathematics, and reinforced "harmful stereotypes".

　　National Public Radio reported that Asian human rights organizations appreciated the decision to end the project, but said more work was needed.

　　"The statement made by the Ministry of Justice today is an important step forward, but there is still much work to be done to ensure that all cases prosecuted are based entirely on evidence, not opinions," said Huang Zhengyu, president of the Chinese NGO Committee of 100.

　　On the afternoon of May 15th, () Co., Ltd. (hereinafter referred to as "Hangzhou Bank", stock code: 600926.SH) held a performance briefing for the year 2023 and the first quarter of 2024 through live broadcast on the whole network. Song Jianbin, chairman of Hangzhou Bank, Yu Liming, president, Changqing Li, independent director, Chen Lan, Pan Huafu, Zhang Jingke and Zhang Jianfu, vice presidents, attended the meeting.

　　At this briefing, Yu Liming said that in 2023, in the face of fierce market competition, Hangzhou Bank took the "2255" strategy as the guide, adhered to customer-centered, striver-oriented, strengthened digital intelligence empowerment, and achieved good business performance, achieving a steady development trend of rising comprehensive strength, remarkable business transformation and strong and solid management foundation.

　　In 2024, Hangzhou Bank will closely focus on the "2255" strategy, firmly adhere to the principle of quality and strict governance, adhere to the general tone of "striving for progress while maintaining stability", and strive to build a value-added chain and closed-loop management of customers, products, teams, risk control and operation supervision, so as to accelerate the creation of differentiated competitive advantages in market segments.

　　Next, let’s take a look at the key points of this performance briefing of Hangzhou Bank.

　　1. Optimize asset allocation and actively respond to the low interest rate environment.

　　Song Jianbin, chairman of Hangzhou Bank, said that in the face of low interest rate environment, on the one hand, Hangzhou Bank should focus on developing direct financing, supply chain services and digital services to improve the comprehensive income level of political and credit business. On the other hand, efforts will be made to improve the business model of Hangzhou Bank from three aspects: one is to expand the customer base of market segments, especially technology and finance business; The second is to improve risk control ability and expand sinking customers; The third is to enrich service functions, especially to improve non-credit services. In the future, Hangzhou Bank will focus on light capital and transactional business.

　　2. Regional advantages guarantee credit supply, and stable asset quality helps achieve the benefit goal.

　　President Yu Liming of Hangzhou Bank analyzed the operating performance of Hangzhou Bank and looked forward to the revenue and profit trend in 2024. He put forward five strategies of "promoting investment, optimizing allocation, reducing costs, expanding income and controlling risks" to ensure that Hangzhou Bank can achieve the growth target of benefit indicators in the new year. President Yu Liming pointed out that despite the double pressures of narrowing net interest margin and rising credit risk, Hangzhou Bank will strive to maintain the growth of operating income, total profit and net profit with a solid foundation and good development prospects.

　　In terms of credit supply, President Yu Liming said that Hangzhou Bank will take advantage of its outlets in the Yangtze River Delta, Pearl River Delta and other economically better regions to increase credit supply and strive to achieve the annual target of deposit and loan growth exceeding 100 billion. He also mentioned that Hangzhou Bank will optimize its asset allocation, especially in the fields of science and technology finance, credit micro-credit and universal micro-credit, so as to achieve optimal returns under controllable risks.

　　3. There is still downward pressure on interest margin, and the capital adequacy ratio has improved.

　　Zhang Jianfu, chief financial officer of Hangzhou Bank, made a comprehensive interpretation of key financial indicators such as credit arrangement, interest spread trend and capital adequacy. Director Zhang Jianfu first introduced three strategies of Hangzhou Bank’s credit lending in 2024: optimizing the lending structure while maintaining the total growth, balancing the quantity, price and risk, and optimizing the pace and regional layout. He pointed out that Hangzhou Bank plans to invest more than 100 billion yuan in credit, focusing on increasing the investment in manufacturing, green finance, science and technology, private enterprises, agriculture-related customers, and at the same time emphasizing the study of sub-sectors of the real economy and the grasp of credit opportunities.

　　When talking about the trend of interest margin, Director Zhang Jianfu analyzed the market situation of interest margin decline in 2023 and looked forward to the challenge of net interest margin in 2024. He mentioned that despite the pressure brought by the decline of LPR and changes in market supply and demand, Hangzhou Bank will mitigate the impact of the decline in interest margin by strengthening pricing management and asset allocation, and actively responding to market changes. Director Zhang Jianfu also mentioned that stopping manual interest payment will not only help standardize the market competition order, but also help reduce the interest rate of deposits, thus supporting the stability of net interest margin.

　　Regarding capital, Director Zhang Jianfu said that the improvement of capital adequacy ratio and core tier 1 capital adequacy ratio of Hangzhou Bank in the first quarter of 2024 was not only due to the positive impact of the new capital regulations, but also due to the bank’s initiative to adjust its asset structure and improve its capital endogenous capacity. He emphasized that Hangzhou Bank will improve the efficiency of capital use by optimizing the structure of assets and liabilities, promoting the strategy of light capital and deepening capital management.

　　4. The mortgage has picked up, and the "paid loan" retail consumer credit products will have new brands.

　　Vice President Chen Lan of Hangzhou Bank exchanged strategies and risk control measures in retail business with investors and analysts. She emphasized that in the current market environment, Hangzhou Bank has achieved steady growth in retail business through differentiated competition strategies. Vice President Chen Lan said that Hangzhou Bank has implemented the strategy of deep channel cultivation and branch pilot in mortgage business, and optimized the regional distribution structure. In 2023, the total amount of mortgage loans increased significantly, and its market share was improved. In terms of consumer loans, Hangzhou Bank adopted a steady and meticulous strategy of sinking customers, strengthened post-loan management and risk prevention and control through () integration, and effectively guaranteed asset quality. Facing the challenge of retail business, Vice President Chen Lan mentioned that Hangzhou Bank will adhere to the principle of "no risk for development" and enhance its risk prevention and control capabilities through refined management and big data risk control mode. At the same time, Hangzhou Bank will launch exclusive consumer credit products for different customer groups, such as a new brand of "paid loans" for working-class and new citizens, in order to realize the coordinated development of retail credit growth and risk stability.

　　5. Small and micro loans promote the sinking of customer base and create differentiated competitive advantages.

　　In the field of small and micro loans, Vice President Chen Lan emphasized the effectiveness of Hangzhou Bank in risk prevention and control, and realized the deep integration of marketing chain, operation chain and risk chain through the support of digital cloud platform. She revealed that by the end of 2023, the non-performing rate of micro-credit remained at a low level, showing the competitive advantage of Hangzhou Bank in the field of micro-credit. In addition, Vice President Chen Lan also mentioned the experience of the Small and Micro Credit Department in the sinking of inclusive finance’s customer base, and emphasized the importance of business planning, industry segmentation and customer base selection. She said that through industry segmentation research and customer visits, Hangzhou Bank can serve the local market more deeply and realize the sustainable development of its business.

　　6. Science and Technology Innovation Financial Business Model Iteration

　　Zhang Jingke, Vice President of Hangzhou Bank, said that Hangzhou Bank has successfully cultivated more than 300 listed companies, including 95 science and technology innovation board companies, since it established the Science and Technology Sub-branch in 2009. Vice President Zhang Jingke mentioned that although the links of investment and loan linkage in the current financial supervision system have not been fully completed, Hangzhou Bank is still actively exploring the science and technology financial service model, from the initial cooperation with the government to the cooperation with investment institutions, and then to the current "data+professional drive" model, Hangzhou Bank’s science and technology financial business model has been continuously upgraded and iterated. He emphasized that the core logic of Hangzhou Bank’s profit lies in growing together with customers, and achieved a good profit space through low capital cost, low non-performing rate and replicability of business model. Vice President Zhang Jingke explained that Hangzhou Bank not only established deep customer loyalty through early intervention and service for small and micro science and technology enterprises, but also obtained support in low-cost fund settlement, which supported the bank’s profit through lower capital cost when credit pricing could not exceed the market average. In addition, Vice President Zhang Jingke also mentioned that the risk control of Hangzhou Bank in the field of science and technology finance is in place, and the non-performing rate has remained at a low level for 15 years, which has provided a solid support for the bank’s profitability. He also emphasized the importance of team and organization building, pointing out that Hangzhou Bank has a professional team of more than 500 people, which has accumulated 15 years of experience.Become the most powerful competitiveness of Hangzhou Bank in the field of science and technology finance. Finally, Vice President Zhang Jingke said that in the face of changes in the market environment, Hangzhou Bank will stick to long-term, grasp its own pace of development, focus on technological innovation customers, and continue to maintain its leading position in the field of science and technology finance through innovation of products and services and optimization of risk control.

　　7. Asset quality is stable and controllable.

　　Pan Huafu, vice president of Hangzhou Bank, gave a detailed answer to the risk management problem. He said that the proportion of interest-related loans increased by 0.12 percentage points in the first quarter, mainly because the extension of a real estate project loan led to the downward shift of classification. He stressed that despite the increase in interest-related loans, the overall business structure and the total number of customers remained stable, and the proportion of interest-related loans was still at a low level among listed banks.

　　On the issue of the rising NPL ratio of real estate loans, Vice President Pan Huafu mentioned that the NPL ratio was mainly due to a project loan default of a real estate enterprise, but he said that the real estate loan risk of Hangzhou Bank was generally controllable, and put forward the concept of "three opposites" to illustrate the advantages of banks in real estate loans: relatively low proportion of real estate loans, relatively good area of real estate loan projects and relatively stable real estate customers as a whole. In other credit risk areas that investors are concerned about, Vice President Pan Huafu also responded one by one.

Market performance

Intraday news

　　The upstream and downstream of soda ash are deadlocked, and the market changes little.

　　As of November 14th, the average ex-factory price of domestic light caustic soda was 1510 yuan/ton, down 1.1% from last week and 31.6% year-on-year. The average price of the mainstream terminal of heavy alkali was 1,575 yuan/ton, which was the same as last week and decreased by 33.7% year-on-year. Recently, some soda plants have been reduced in concentration, and the overall start-up load of the industry has further decreased. Downstream users have replenished appropriately, and the inventory of soda enterprises has declined. The futures market fluctuates and the market is in a strong wait-and-see mood. Soda manufacturers mostly execute the previous orders. Some ammonia and soda producers run at a loss, while soda producers are interested in stabilizing prices. However, the downstream demand is general, and the consumption of soda ash in float glass and photovoltaic glass is reduced. Most downstream users just need to purchase mainly and replenish moderately. The upstream and downstream stalemate game, it is expected that the domestic soda ash market may not change greatly in the short term. (（）)

Variety fundamentals

　　On November 14th, the inventory of soda enterprises recorded 1,648,100 tons, an increase of 0.43 million tons compared with the previous trading day.

Institutional point of view

　　Zhengxin Futures: The supply of soda ash market is strong and weak, and the short-term shock operation is expected to be obvious.

　　Strategy: At present, the supply of soda ash fundamentals continues to be strong and needs to be weak. Although there is the influence of device disturbance, the supply continues to be high, and the downstream demand is relatively stable. The inventory of upstream cash orders is transferred to the middle reaches instead of the downstream replenishment. Short-term device disturbance expectations are difficult to form a sustained drive and oscillating operation, and pay attention to the subsequent domestic macro-policy news.

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　　China Southern Airlines purchased 96 aircraft.

　　The basic price is about $12.248 billion.

　　China Eastern Airlines buys 100 aircraft.

　　The total basic price is about $12.796 billion.

　　Air China and its holding subsidiary Shenzhen Airlines purchased a total of 96 aircraft.

　　The total basic price is about $12.213 billion.

　　The aircraft ordered by the three major airlines will be delivered from 2023 to 2027.

　　On July 1st, China Southern Airlines, Air China and China Eastern Airlines, the three largest domestic airlines, announced that they had signed a purchase agreement with European aircraft manufacturing giant Airbus — — A total of 292 A320NEO series aircraft were purchased, and the total purchase amount will reach 37.257 billion US dollars (about 249.1 billion yuan). This transaction is the single order with the largest quantity and the highest order amount among the three major airlines in the history of aircraft purchase, and it is also the first large-scale passenger aircraft order announced by China civil aviation industry in recent three years.

　　Why did the three major airlines reach the biggest order in history at present? Why did this "group purchase" order select Airbus A320NEO? 249.1 billion yuan is not a small sum. Under the influence of the epidemic, where did this money come from? Does the large-scale purchase of aircraft in the downturn of the aviation industry signal the full recovery of China’s civil aviation industry?

　　Why buy it?

　　Optimization of fleet structure and long-term capacity supplement are the main reasons

　　At present, the aviation market has not fully recovered, so why did the three major airlines sign the largest order in history at this node?

　　Qi Qi, an expert of China Civil Aviation High-quality Development Research Center and an associate professor of guangzhou civil aviation Vocational and Technical College, said: "It can be said that it is a compensatory consumption. Because there are many uncertainties during the whole epidemic, it is difficult for airlines to make a large-scale purchase of aircraft. At present, we see that the whole signal of aviation recovery is relatively strong. At this moment, it is actually an important performance of market confidence for airlines to buy related models in a big way. "

　　The reporter noticed that in the announcements of the three airlines, the main reason for purchasing the aircraft this time was mentioned, that is, the aircraft transaction was in line with the company’s "14 th Five-Year Plan" development and market demand, and the company needed to plan and reserve the fleet capacity in advance, optimize the fleet structure and supplement the long-term capacity. Air China said that the introduction of new aircraft will be concentrated after 2024, and this transaction will increase the Group’s capacity by about 10.4%. China Eastern Airlines said that after the introduction of this aircraft, it will be mainly put into the domestic trunk network market to encrypt high-yield routes and develop potential markets. China Southern Airlines said that the purchase of 96 A320NEO series aircraft will increase the Group’s capacity by about 13.0%.

　　Why buy it now?

　　More bargaining power, the purchase price is more favorable

　　The consumption potential and confidence of the market are constantly increasing. However, at present, the civil aviation industry in China has not fully recovered to the pre-epidemic level, and the seat capacity that the industry as a whole can provide is still far higher than the current market demand. So is it necessary to order so many new planes now? In this regard, experts said that the replacement of old and new models can promote the metabolism of the industry. In the future, the aviation market will be huge, and China needs to continuously increase new capacity to keep the airline fleet younger.

　　Experts said that due to the impact of the epidemic, the speed of aircraft introduction of the three major airlines has greatly slowed down in the past two years. Take Air China China as an example. By the end of 2021, the fleet size was 746, a net increase of 52 compared with the end of 2019. The average annual import rate is between 1% and 3%, which is far from the previous rate of 6%-8%.

　　Qi Qi believes that many domestic models are relatively old. In the aviation field, the fuel economy of new aircraft will be much better than that of old models, which also urges airlines to accelerate the iteration of old models. In addition, with the market recovery and business development, the domestic aviation market also needs to continuously increase new capacity.

　　The transaction amount of this large passenger plane order is nearly 250 billion yuan. However, the three major airlines all said that Airbus will give a larger discount in the actual transaction, and the actual price of the aircraft will be lower than the above basic price. Therefore, experts also speculate that airlines have more bargaining power to buy new aircraft at this node at a more favorable purchase price, which is also one of the main factors for the three major airlines to concentrate on buying new aircraft.

　　Why A320NEO?

　　Domestic airlines have a strong demand for narrow-body aircraft.

　　Even if the moment is a good opportunity, why did the three major airlines choose Airbus’s narrow-body A320NEO? A320NEO series aircraft is the latest generation of narrow-body aircraft of Airbus, the best-selling New Engine Option of A320 series aircraft, and the fist product of Airbus in the single-aisle narrow-body aircraft market at present.

　　Single-channel narrow-body aircraft is the main passenger aircraft on domestic routes and short-haul international routes. By the end of 2021, there were 4,054 registered aircraft in the civil aviation industry, among which 3,178 were narrow-body aircraft, accounting for nearly 80% of the transport fleet.

　　Qiao Shanxun, secretary-general of the Expert Committee of Henan Aviation Industry Association and researcher of Henan Collaborative Innovation Center for Aviation Economic Development, told reporters that domestic airlines have a strong demand for narrow-body aircraft, and the three major airlines themselves have a large-scale narrow-body fleet. At present, the proportion of narrow-body aircraft is 70% to 90%, and they have their own needs for renewal of old aircraft.

　　Airbus A320 and Boeing 737 are the two most popular single-aisle passenger aircraft in the world, which is also one of the most competitive markets between Airbus and Boeing, an American veteran aircraft manufacturer. In 2021, Airbus delivered a total of 611 passenger planes, while Boeing delivered only 340 in the same year. Airbus has become the world’s largest aircraft manufacturer for three consecutive years. After the successive accidents of Boeing 737MAX, Airbus has taken the lead in the single-aisle passenger aircraft market.

　　Where does the money come from?

　　Business operation, commercial bank loans and other financing methods

　　Buying aircraft is a major capital expenditure for airlines, which will increase the scale of airline debt. At present, affected by the repeated epidemic and the high international crude oil price, the performance of the three major airlines fell further in the first quarter of 2022, with a total loss of over 20 billion yuan. In this case, where does the money for buying a plane come from? Will cash flow be affected? Will it further increase the scale of airline debt?

　　Experts said that as a high-value product, aircraft is not a spot transaction. At the same time, the manufacturing cycle is relatively long, so the order is usually signed 3-5 years in advance. The 292 aircraft ordered this time will also be introduced in years and batches. Taking Air China as an example, public information shows that the purchased aircraft is scheduled to be delivered in batches from 2023 to 2027; Shenzhen Airlines, the holding subsidiary, plans to purchase aircraft in batches from 2024 to 2026.

　　In the announcement, the three major airlines all said that the money for buying planes does not need to be paid in one lump sum. Because it is annual, the aircraft are delivered in batches every year, so it is customary to pay part of the advance payment in installments, and then pay off the balance on the delivery date of each aircraft. In the announcement, all three airlines said that they would provide funds for the purchase of aircraft through business operations, commercial bank loans or other financing methods. The transaction amount is paid by installment, which is not expected to have a significant impact on the company’s cash flow and business operations.

　　Expert opinion

　　The deep cooperation model between Airbus and China aviation industry is highly recognized.

　　As a supplier, Airbus confirmed the news of this order in official website for the first time. Scheler, chief commercial officer of Airbus and head of Airbus’s international business, said: "We commend the excellent work done by the entire Airbus China team and our customer team. They had a long and extensive discussion during the difficult COVID-19 epidemic." As of May this year, there were more than 2,070 Airbus aircraft operating in China.

　　Experts said that the massive purchase of Airbus aircraft by China’s three major airlines also released a positive signal, which once again confirmed that the deep cooperation model between Airbus and China aviation industry was highly recognized. In addition, Airbus has three production assembly lines in Tianjin, which also reflects the good coordinated development of aircraft manufacturers and domestic aviation industry. Comprehensive CCTV News, The Paper

　　During the just-concluded tour of the National Grand Theatre Orchestra in the United States, the Concerto for Pipa and String Orchestra by American composer Lu Harrison, played by pipa player Wu Man in the United States, became a unique work that attracted attention during the tour. Although this work was created 20 years ago, Wu Man and Chicago Symphony Orchestra won the Grammy Award for Best Solo and Band for this work, and they have cooperated with foreign orchestras many times in the past, it is the first time to take this work to tour with China Orchestra. At the end of the tour with the Orchestra of the National Centre for the Performing Arts, Wu Man said in an interview: "There are many overseas performances by the China Orchestra, so it is necessary to bring good works out before they will be affected and concerned. What I am most afraid of is that all the works are left there like a hodgepodge."

　　"Introduction to Pipa" written by Americans

　　Beiqing Daily: What’s the feeling of playing this work?

　　Wu Man: This work is very difficult, and all the pipa parts are monophonic. The most difficult thing is the single tone. How to make the single tone pop up makes people feel interesting. This is a special test. In fact, the score that Lou Harrison gave me when he wrote it was a single tone, and there were no pipa fingering on it. All fingering was designed by myself. This work can also play the flute, guitar and any musical instrument. He said, "This is for you. How can you play it like a pipa?"

　　Beiqing Daily: What do Western audiences think of this work?

　　Wu Man: From the western audience, I think it is a particularly good model for listening to Chinese musical instruments. Many audiences have never heard of the pipa. After listening to this song, he became interested and found it very interesting. Especially, there are few traditional music from other countries in the central United States performing there. Sometimes I perform with local orchestras, and the audience will say, "It’s very nice." Moreover, there are some beautiful passages with string plucking, so I think it is a very good work to introduce Chinese musical instruments. It’s a very fresh work for the audience in China, which is different from what China composers wrote and what they usually hear. In the past, we guessed that the Pipa Concerto was like that, which is the opposite. It’s actually a very interesting music language and a manifestation of the combination of two cultures.

　　Take China’s works carefully.

　　Beiqing Daily: What do you think of this tour with so many China works by the National Grand Theatre Orchestra?

　　Wu Man: I think it’s particularly good. It’s particularly meaningful to bring the works of China composers, teachers Zhao Jiping and Chen Qigang. This is necessary. I was sitting in the audience, and my foreign friends around me, including the director of the New Jersey Symphony Orchestra, said it was a good work. Everyone has heard it, but this work has never been heard before. The style is very different from that of China’s works heard in the past. It is very different from Beethoven and modern and contemporary composers. There are elements of China in it. Many people ask me what those national percussion music are, and they think the sound is very special, bringing out elements of China opera. This work is particularly successful and mature.

　　Beiqing Daily: Do you have any suggestions for China Orchestra to bring China’s works abroad?

　　Wu Man: The suggestion is to bring good things out, and never bring bad things, because in the past, some orchestras took too many bad things abroad, which sometimes made people laugh and cry. Therefore, you must bring good things before you can really enter the level of communication. The so-called "good" is actually difficult to define, but you really have to think carefully about what kind of tracks you bring. I think it’s really been considered for a long time this time, and all the works brought out are works with some meaning in them. What I fear most is that all kinds of works are left there, like a hodgepodge. I think what China Orchestra brings abroad must have its own characteristics, whether it’s classical music or traditional folk bands, and it must have traditional and good things. I’m going to take the Shaanxi old tune out in March next year, and I’m going to tour 12 cities in the United States. Many concert halls need it, and if I want to bring it, I’ll bring it with me. In the past, some orchestras didn’t think about going abroad to perform their tracks, but they brought them here at sixes and sevens, and it didn’t matter if they found a place to perform, nor did the audience. It was a pity to find some China audiences to watch and do something for the sake of doing something, which wasted musicians’ talents and opportunities. If you really think about it, bring some good things.

　　Text/Reporter Lun Bing Photography/Wang Xiaojing

　　Many friends still don’t know how Huawei mobile phones translate words on pictures. Next, Xiaobian brings you an introduction to how to translate words on pictures, hoping to help you.

　　How to translate English web pages with Huawei mobile phones

　　1. First, find the smart assistant option in the settings, and click the smart screen recognition function to turn on the smart screen recognition function.

　　2. After opening, press the screen with two fingers for two seconds, and you will enter the recognition interface. Click full-screen translation in the screen recognition interface, and the contents in the screen can be translated with one click.

　　How does Huawei mobile phone translate the text on the picture?

　　1. Camera — Set the button in the upper right corner — Select the translation function — Click to shoot at the area to be translated — Pictures, books and road signs can help you translate them. Although this function can help you translate quickly, all the translated words can’t be copied, so we can use quick character recognition to help you take photos for translation.

　　2. Open this tool → Select photo recognition → Click on the area to be identified → Select the translation area and click Save → The words will be put forward → Then click Translate below to complete the translation → And it also supports translation in more than a dozen languages.

　　PS: This tool can be found in the mobile phone application market.

　　That’s all about the method of translating words on pictures. IT Encyclopedia provides you with the best browser tutorial and brings you the latest software information!