The new M7 was a hit, and it won an order for 15,000 vehicles within 24 hours after the launch. You know, after many slaps, most car companies will not announce the order results within 24 hours or 72 hours after the press conference. Dare to let go of the fear of being beaten in the face in the future and announce the order results, which reflects the great confidence of the Helix team in this product. However, considering the conversion rate of orders, the order data is actually of little reference significance. What really makes sense is the first weekend after the press conference. A big order refers to an order that actually pays a deposit of more than 10 thousand yuan and can basically be converted into actual delivery. At the new product launch conference in autumn, Yu Chengdong revealed that the new M7 has been on the market for less than two weeks, and it will definitely exceed 20,000 units. The bright figures show that the new M7 will definitely become an explosion.

Address quoted in this article: https://www.eepw.com.cn/article/202310/451532.htm.

Some people think that the rapid explosion of the new model M7 is influenced by the light of Mate60 and Huawei, especially after the breakthrough in the production of 7-nanometer chips and the launch of Mate 60, Huawei’s voice volume is in full swing, and the new model M7 has achieved such good sales. This is only half right. To tell the truth, the new M7 is indeed exposed to the light of Mate 60 to a certain extent. After all, the cars in the world are sold in Huawei’s stores, and the huge number of stores brought by Mate 60 will inevitably increase the exposure of the new M7. But it’s as normal as your brothers and sisters in your work and life. If the hat of the great hero who broke out in the world of inquiry M7 is buckled on Mate 60, it is unfair and objective to the team of inquiry. You should know that mud can’t help the wall. If the new model of inquiry M7 itself doesn’t give strength, Mate 60 will shine again and will not shine on it.

Therefore, we still have to go back to the product itself to find the answer.

In the marketing of the new model M7, Huawei and Sailis team found three highlights to promote: safety, comfort and intelligence.

When I first saw the propaganda copy, the author smiled knowingly. Because, if you still have the impression, the author has analyzed the reasons for the misfire of the old M7. First, the test conducted by China Insurance Research Institute made consumers put a big question mark on the safety of the M7. Second, the wheelbase is too short to arrange three rows of space, and the comfort experience is greatly reduced; Third, despite Huawei’s brand aura, in terms of intelligence, the old M7 only has the icing on the cake of the HarmonyOS cockpit, but there is no high-end intelligent driving that high-end consumers are increasingly concerned about. In other words, the three highlights of the new M7 marketing-safety, comfort and intelligence-all have obvious shortcomings in the old M7 marketing.

Let’s start with safety. At the launch conference of almost every new car of BYD, the golden sentence that Wang Chuanfu, the head of BYD, said at the blade battery launch conference was later widely circulated in the industry-safety is the greatest luxury of new energy vehicles. In the new species of new energy vehicles, safety is mainly reflected in two aspects-body safety and battery safety.

For a rigid object that weighs two or three tons and can move at high speed, safety is a political correctness. From the sales volume of Volvo, safety is not the biggest persuasion factor when people buy cars, but from the peak drop of M7 sales volume of the old model, we can find that safety is definitely one of the biggest persuasion factors when people buy cars. After the resumption of trading, there are many reasons for the sales collapse of the old model M7. For example, the ideal L8 is really more amazing. For example, the test of China Insurance Research Institute directly destroyed the momentum of the M7. Therefore, the M7 500 million rejuvenation has put a lot of energy into the upgrading of body strength.

Image source: Huawei

The strength of the car body is closely related to the proportion of high-strength steel and the price of the car. For example, the high-strength steel of BYD’s Qin Plus DMI, which "subverts fuel, Qin rules the world", accounts for 52%, the high-strength steel of Audi A series accounts for 62%, the high-strength steel of LI accounts for more than 75%, and the high-strength steel and aluminum alloy of the new model M7 account for 80.6%.

As for battery safety, Huawei has taken advantage of its own cloud-side collaborative algorithm. Through the combination of local BMS and cloud BMS, it has prevented unburned, creating a good result of selling hundreds of thousands of cars in the world.

In terms of comfort, the author always thinks that changing three rows into two rows and six seats into five seats is a stroke of genius. It is indeed a little stretched to make three rows with a wheelbase of 2.8 meters, and it will inadvertently make the third row of passengers inferior. Since it can’t be arranged, it is simply changed to two rows, so that each seat can be arranged properly. As for other comfort upgrades, it is somewhat eclipsed in front of the 6-seat flying fairy.

Image source: Huawei

The biggest improvement in intelligence is, of course, the introduction of Huawei ADS2.0, a high-order assisted driving function that can be used on the structured roads of all cities in China at the end of the year.

Image source: Huawei

After a year’s market education and the efforts of major car companies such as Huawei and Tucki, consumers of models with a price range of more than 250,000 have gradually accepted and recognized the value of advanced assisted driving. In the high-speed scene, more and more consumers have liberated their hands and feet through high-speed NOA, and gained a more relaxed and comfortable driving experience. In this year’s market environment, if a mid-to-high-end vehicle does not have the ability or potential to assist driving in urban areas, it is basically difficult to achieve good sales performance. We can accurately capture this from the bleak sales of BYD Tengshi N7. It is also based on this judgment that the new model M7 decisively abandoned the third-party intelligent driving solution of Wen Yuan Zhixing and directly launched the "far ahead" Huawei ADS. It is precisely because at this stage, Huawei (and Tucki) have achieved a real lead in the field of autonomous driving, so this short board that Huawei has filled in on the new M7 has become its biggest highlight.

The first good quality is seeking truth from facts, dare to face problems directly, do not evade, do not evade, and get up from where you fell last year. The three shortcomings that users spit out have become the three highlights of the product.

The second quality is pragmatism, accepting the fact that the post-80s generation has become the mainstream consumer group in the mid-to-high-end automobile market, and carrying out targeted transformation and upgrading to meet the mainstream needs of this group. Compared with the driving experience, the post-80s generation, which has become a nanny or treasure mother, pays more attention to the elderly’s riding experience and children’s entertainment needs. The former needs a large space, which requires a spatial layout, and the third row needs to be changed into two rows. The latter needs color TV or flat panel. MagLink has achieved the front row control and linkage requirements while ensuring the rear row entertainment experience.

Image source: car home

The third excellent quality is flexible and decisive, conforming to the reality of market downturn and industry involution. Based on the current situation that the volume and sales volume of the industry have gradually declined in the past six months, we will decisively reduce the price and increase the distribution, and bring the dead old products back to life with sincere prices. Compared with the old model, the new model is 60,000 yuan cheaper, and 70,000 yuan cheaper than the ideal L7, the main competing model. Even if we have to reduce the suspension of 20,000 yuan on the basis of 70,000 yuan, it is also 50,000 yuan cheaper.

No car company has invested hundreds of millions of dollars and a lot of manpower and material resources to make a car, and does not want to achieve a good sales result. If it doesn’t meet the enterprise’s hope in the terminal market, there must be some problems in some aspects. What should we do to face the problems? What kind of answer should car companies give? At this time, it is a special test whether the car companies can make an effective resumption, accurately judge the problem and give targeted solutions.

After comparing the new and old questionnaire M7, we can realize that Huawei and Mercedes team are practical, pragmatic, flexible and decisive from its three highlights. This car is far ahead of intelligent driving, with a comfortable space of five seats, and the price has hit 250,000. Why not become a super explosion?

　　　　　　 CCTV News:We continue to pay attention to the deep game between the United States and Russia around the "last war" in Syria. The focus of the game is Idlib province in the northwest of Syria and its surrounding areas, which is regarded as the last site of opposition armed forces and various extremist and terrorist organizations in Syria. At present, the government forces are making intensive pre-war preparations to recover this area, and the battle of Idlib, known as the "last battle" in Syria, may start at any time. And at this juncture, should I fight? How to fight? The United States, which supports the anti-government armed forces, and Russia, which supports the Syrian government, are sharply opposed, and for this reason, they have launched a confrontation and game in military diplomacy.

source map

　　　　　　 White House: If Syria uses chemical weapons, it will respond quickly.

　　　　　　 Let’s look at the new trend of the US. The White House No.4 issued a statement saying that the United States is closely monitoring the situation in Idlib province of Syria. If the Syrian government uses chemical weapons, the United States and its allies will respond "quickly and appropriately".

　　　　　　 This is not the first time that the United States has recently threatened to use force against the Syrian government. On August 21 this year, the United States, Britain and France issued a joint statement expressing "serious" concern about the possible military actions taken by Syrian government forces in Idlib province. The United States, Britain and France also warned that if the Syrian government uses any chemical weapons, they will make an "appropriate" response.

　　　　　　 Russia says terrorist organizations will create chemical weapons attacks.

　　　　　　 The threat of use of force by the United States and its allies against Syria is not just a verbal threat. In April this year, the three countries attacked Syrian government facilities on the grounds of the so-called "chemical weapons attack". Recently, the Russian Ministry of Defense suddenly broke the news that the "White Helmets" organization with western background is planning with terrorist organizations to prepare a chemical attack and frame it on the Syrian government.

　　　　　　 According to the information held by the Russian military, several terrorist organizations, such as the "Conquest Front", transported eight chlorine-containing containers to the northwest of Idlib province in an attempt to make and photograph the scene of the so-called "chemical weapons attack" by Syrian government forces, and intelligence shows that the chemical weapons attack premeditated by terrorists may be changed to Hama province.

　　　　　　 Earlier, Western countries repeatedly accused Syrian government forces of using chemical weapons, which were firmly denied by Syria and Russia. In April this year, the so-called "chemical weapons attack" occurred in the town of Duma, Syria, and the United States, Britain and France subsequently attacked Syrian government facilities. Later, the Russian media interviewed the parties who were attacked by so-called "chemical weapons" and identified the relevant attacks as forged.

　　　　　　 Trump issued a warning to stop Syria from attacking Idlib.

　　　　　　 US President Trump No.3 also issued a warning to Syria not to "recklessly" attack Idlib province, otherwise the consequences will be very serious. He also called on Russia and Iran not to participate in the battle of Idlib. In this regard, Russian Presidential Press Secretary peskov No.4 said that Trump’s statement was ill-considered.

　　　　　　 Peskov: "(Idlib) hides a large number of terrorists, which leads to instability. Efforts to end this situation through political and diplomatic channels have also been hindered. Importantly, this poses a threat to our military base. This point has been mentioned by the Russian President. Everyone knows that those drones that threaten our base took off from here (Idlib). "

　　　　　　 Chen Bing launched a military confrontation between Russia and the United States in the Mediterranean.

　　　　　　 In addition to bickering, countries such as the United States and Russia are also ready to intervene in the military.

　　　　　　 According to media reports, the United States has deployed large destroyers equipped with Tomahawk cruise missiles to the Mediterranean waters near Idlib. A Los Angeles-class attack nuclear submarine has also entered the Mediterranean waters. Los Angeles-class nuclear submarines can carry multiple cruise missiles. In the Gulf War in 1991, the first wave of attacks by multinational forces on Iraq was launched from surface ships and Los Angeles-class nuclear submarines. However, the Pentagon said that sending nuclear submarines into the Mediterranean was a routine voyage.

　　　　　　 Russia is not to be outdone. The Russian navy began military exercises in the waters near Syria in the eastern Mediterranean on the 1st. The Russian Defense Ministry said that more than 25 ships from the Russian Northern Fleet, the Baltic Fleet, the Black Sea Fleet and the Caspian Fleet participated in the exercise, and there were about 30 fighters. Although Russia claims that the exercise has nothing to do with the situation in Idlib, Syria, it is widely believed that this is the largest maritime military exercise held by Russia in the Mediterranean region since the end of the Cold War, mainly to show the will and ability to oppose western countries’ intervention in the Syrian war by force.

　　　　　　 In addition, the Russian media also reported that the Russian Ministry of Defense is increasing the deployment of naval forces in the Mediterranean Sea, including 10 ships of various types with missile strike capability. This is also the most powerful naval force deployed by Russia in the Mediterranean since it cracked down on extreme armed forces in Syria in 2015. 　

　　　　　　 Russia-Turkey Summit or Focus on the Battle of Idlib

　　　　　　 Military confrontation is accompanied by diplomatic interaction. While the United States, Britain and France are threatening to use force against Syria, the presidents of Russia, Turkey and Iran will also meet in Iran on the 7th, that is, this Friday. It is expected that the situation in Syria, especially the war in Idlib province, will be the focus of this summit.

　　　　　　 Some analysts believe that at the upcoming summit, Russia, Turkey and Iraq need to coordinate and solve a series of problems, including the time of the war, the scope of the attack and the target of the attack, so as to prevent the armed forces supported by the three countries from accidentally firing, and to prevent the war from expanding out of control and harming the interests of the three countries.

　　　　　　 Iranian foreign minister’s visit to Syria reaffirms support for Syria’s counter-terrorism

　　　　　　 Let’s look at Iran’s attitude. Iran is an important ally of the Syrian government. It has always supported the Bashar regime in the Syrian civil war and provided military support to the Syrian government. Different from Turkey’s attitude, when Iranian Foreign Minister Zarif visited Syria on the 3rd, he called for "thorough elimination" of "terrorists" in Idlib province.

　　　　　　 Iranian Foreign Minister Zarif held talks with Syrian President Bashar al-Assad, Prime Minister khamis, Foreign Minister Moalem and several senior Syrian government officials on the same day. In their meeting with Bashar, Zarif and Bashar both accused "some western countries of exerting malicious pressure on Syria and Iran" and stressed that the two countries will not give up their "principles" and efforts to maintain regional peace and stability because of pressure. When meeting with Syrian Foreign Minister Moalem, Zarif reiterated that Iran will continue to support Syria’s actions against terrorist organizations.

　　　　　　 Talking about the war in Idlib, Syria, which may be about to start, Zarif said that the residual terrorist forces in Idlib area "will be completely eliminated" and this area should be returned to the Syrian people as soon as possible.

　　　　　　 Russian Foreign Minister: I am willing to meet with the US Secretary of State at the UN General Assembly.

　　　　　　 While the United States and Russia launched a deep game of military diplomacy around the "last war" in Syria, they did not refuse dialogue and communication. Russian Foreign Minister Lavrov said at the end of last month that he was willing to meet with US Secretary of State Pompeo during the UN General Assembly. The website of the Russian Ministry of Foreign Affairs issued a statement on the same day saying that both Lavrov and Pompeo will attend the 73rd UN General Assembly, which will open on September 18th. Lavrov expressed his willingness to meet with the US and discuss bilateral agenda and international affairs of common concern. He also said that both sides are ready for a fruitful and constructive meeting.

　　　　　　 The United Nations will convene many countries to discuss the situation in Syria.

　　　　　　 On the 4th, UN Special Envoy for Syria De Mistura said in Geneva that he would hold talks with Russia, Turkey and Iran from 10th to 11th. Subsequently, further talks were held with representatives of the United States, Britain, France, Germany and Saudi Arabia on the 14th. Subsequently, the UN Security Council will hold a meeting on the 20th to discuss the situation in Syria. It is hoped that this will be a breakthrough to promote the political process of the Syrian issue.

　　Recently, the COVID-19 epidemic has spread in many countries around the world, causing market concerns about corporate performance and economic growth. The Federal Reserve announced that it would cut the federal funds rate by 50 basis points to 1% & mdash; 1.25% range, this is the first time the Fed has cut interest rates this year. China’s central bank did not follow suit and suspended the open market operation. Experts believe that China has guided the interest rate reduction in advance, and there is still room for monetary policy.

　　At 23: 00 Beijing time on March 3, the Federal Reserve suddenly lowered its benchmark interest rate by 50 basis points to 1.00%— 1.25%, while reducing the excess reserve ratio (IOER) by 50 basis points to 1.1%.　

　　Although the Fed cut interest rates three times last year, the relevant decisions were made by the interest rate meeting. The sudden announcement of interest rate cuts exceeded market expectations. Subsequently, the UAE and Saudi Arabia announced a 50 basis point interest rate cut; On the morning of March 4th, Beijing time, the HKMA in Hong Kong and Macau also announced a 50 basis point interest rate cut.

　　On March 4th, the People’s Bank of China suspended its open market operation. Experts in the industry believe that in response to the COVID-19 epidemic, China has guided the interest rate reduction ahead of schedule, and there is still room for monetary policy.

　　Multinational central banks start to cut interest rates.

　　The United States is not the first country to start cutting interest rates.

　　Before the Fed cut interest rates, central banks in Australia, Malaysia and other countries announced interest rate cuts.　

　　Earlier, the Fed’s interest rate cut expectations have already appeared, but the market expects the Fed to announce this decision at the interest rate meeting in March. The sudden announcement of interest rate cuts outside the interest rate meeting exceeded market expectations.　

　　It is not uncommon for the Federal Reserve to cut interest rates since last year. Although this is the first interest rate cut by the Federal Reserve in 2020, it is also the fourth interest rate cut operation since last year. The previous three interest rate cuts occurred in July, September and October of 2019.

　　Judging from the operation in the history of the Federal Reserve, it is rare to cut interest rates urgently. Ming Ming, chief researcher of fixed income of CITIC Securities, said that the Fed chose to cut interest rates urgently, usually when it encountered a major risk event. Since 1994, there have been nine emergency interest rate cuts in the history of the Federal Reserve. The latest emergency interest rate cut by the Federal Reserve dates back to October 8, 2008, because the collapse of Lehman Brothers triggered concerns about economic recession. In the 11 years since then, the Fed has not taken similar actions. Therefore, it is clearly believed that the announcement of the emergency interest rate cut by the Federal Reserve this time may mean that the assessment of the current risk state within the Federal Reserve has reached a certain level.

　　Loose expectations have been warming up around the world. Recently, the Bank of Japan purchased a record 101.4 billion yen ETF on March 2, and said that it would provide sufficient liquidity to the market through appropriate market operations and asset acquisition to ensure the stability of the financial market; The European Central Bank also expressed its readiness to take appropriate and targeted measures and take corresponding actions against potential risks if necessary.

　　Monetary policy is based on me.

　　After the Federal Reserve cut interest rates, China’s central bank did not follow suit and suspended open market operations.　

　　On March 4th, the central bank announced that the total amount of liquidity in the banking system is at a reasonable and sufficient level, and no reverse repurchase operation will be carried out today.

　　Color, chief economist of Founder Securities, believes that the COVID-19 epidemic appeared earlier in China, and the China government has taken effective measures to prevent and control the epidemic, such as medium-term lending facility (MLF) "interest rate reduction", reverse repurchase operation, refinancing rediscount, special refinancing, etc., to maintain a reasonable and sufficient liquidity. The interest rate cut by the Federal Reserve and other central banks is a lagging policy after the epidemic. China’s central bank is already a pioneer and does not have to follow.

　　As early as February 1, the central bank made it clear that it would set up a special refinancing loan of 300 billion yuan to provide financial institutions with low-cost funds and support financial institutions to provide credit support at preferential interest rates for enterprises. Before the financial market opened on February 3, the central bank predicted the timing and scale of liquidity in advance. Subsequently, on February 3 and 4, the central bank put sufficient supply liquidity into the market, and the accumulated liquidity in the two days reached 1.7 trillion yuan, which exceeded market expectations.

　　At the same time, China took the lead in "cutting interest rates", but different from the Fed’s interest rate cut, China guided the open market operating interest rate, MLF interest rate and LPR quotation to be lowered in a "relay" manner. On February 3rd, while carrying out a record 1.2 trillion yuan reverse repurchase operation, the interest rates of the current 7-day and 14-day reverse repurchase operations both dropped by 10 basis points, which exceeded market expectations. On February 17th, the winning bid rate of the 200 billion MLF operation carried out by the People’s Bank of China was lowered by 10 basis points; On February 20th, the one-year LPR decreased by 10 basis points to 4.05%, and the one-year LPR decreased by 5 basis points to 4.75%.

　　For example, at the end of July last year, when the Federal Reserve announced a rate cut, China did not follow suit, and also suspended the open market operation on the same day.

　　There is room for countercyclical regulation

　　Recently, Liu Guoqiang, deputy governor of the People’s Bank of China, said in an interview with the media that as one of the few countries in the major economies to implement normalized monetary policy, China still has sufficient monetary policy space and sufficient reserves in the toolbox, so it is confident and capable of hedging the impact of the epidemic.

　　Under this premise, the expectation of lowering the benchmark deposit interest rate has also increased, but the market is still controversial.

　　Liu Guoqiang said that the benchmark deposit interest rate is the "ballast stone" of China’s interest rate system, and it will be kept for a long time. In the future, it will be adjusted in a timely and appropriate manner according to the deployment of the State Council, taking into account the fundamental conditions such as economic growth and price level.

　　However, it has been pointed out recently that lowering MLF and other methods should be used to drive down the financing cost of the real economy. At this time, lowering the benchmark deposit interest rate is a "turning back" in the interest rate marketization process. Many economists also believe that the effect of lowering the benchmark deposit interest rate may be limited.

　　In this regard, Wen Bin believes that it is residents and corporate deposits that really affect bank costs, accounting for more than 60% of bank liabilities. The change of MLF interest rate is more to convey the intention of monetary policy, which has limited effect on reducing the overall debt cost of banks, not to mention the frequent change of MLF interest rate. The high capital cost of banks also restricts the downward trend of LPR. Therefore, it is very necessary and urgent to lower the deposit interest rate, and we can’t think that lowering the deposit interest rate is the retrogression of interest rate marketization. On the contrary, the central bank’s "anchoring" of the deposit benchmark interest rate is still the core element and proper meaning of monetary policy.　

　　Liu Guoqiang said that next, targeted cuts to required reserve ratios will be selected for the banks that meet the service standards in inclusive finance in 2019 to release long-term liquidity. Recently, the COVID-19 epidemic has spread in many countries around the world, causing market concerns about corporate performance and economic growth. The Federal Reserve announced that it would cut the federal funds rate by 50 basis points to 1% & mdash; 1.25% range, this is the first time the Fed has cut interest rates this year. China’s central bank did not follow suit and suspended the open market operation. Experts believe that China has guided the interest rate reduction in advance, and there is still room for monetary policy.

　　At 23: 00 Beijing time on March 3, the Federal Reserve suddenly lowered its benchmark interest rate by 50 basis points to 1.00%— 1.25%, while reducing the excess reserve ratio (IOER) by 50 basis points to 1.1%.

　　Although the Fed cut interest rates three times last year, the relevant decisions were made by the interest rate meeting. The sudden announcement of interest rate cuts exceeded market expectations. Subsequently, the UAE and Saudi Arabia announced a 50 basis point interest rate cut; On the morning of March 4th, Beijing time, the HKMA in Hong Kong and Macau also announced a 50 basis point interest rate cut.

　　On March 4th, the People’s Bank of China suspended its open market operation. Experts in the industry believe that in response to the COVID-19 epidemic, China has guided the interest rate reduction ahead of schedule, and there is still room for monetary policy.

　　The United States is not the first country to start cutting interest rates.

　　Before the Fed cut interest rates, central banks in Australia, Malaysia and other countries announced interest rate cuts.

　　Earlier, the Fed’s interest rate cut expectations have already appeared, but the market expects the Fed to announce this decision at the interest rate meeting in March. The sudden announcement of interest rate cuts outside the interest rate meeting exceeded market expectations.

　　It is not uncommon for the Federal Reserve to cut interest rates since last year. Although this is the first interest rate cut by the Federal Reserve in 2020, it is also the fourth interest rate cut operation since last year. The previous three interest rate cuts occurred in July, September and October of 2019.

　　Judging from the operation in the history of the Federal Reserve, it is rare to cut interest rates urgently. Ming Ming, chief researcher of fixed income of CITIC Securities, said that the Fed chose to cut interest rates urgently, usually when it encountered a major risk event. Since 1994, there have been nine emergency interest rate cuts in the history of the Federal Reserve. The latest emergency interest rate cut by the Federal Reserve dates back to October 8, 2008, because the collapse of Lehman Brothers triggered concerns about economic recession. In the 11 years since then, the Fed has not taken similar actions. Therefore, it is clearly believed that the announcement of the emergency interest rate cut by the Federal Reserve this time may mean that the assessment of the current risk state within the Federal Reserve has reached a certain level.

　　The Fed’s interest rate cut quickly triggered a wave of "following" interest rate cuts. The United Arab Emirates and Saudi Arabia immediately announced a 50 basis point interest rate cut. China’s Hong Kong and Macao Special Administrative Regions adopted the linked exchange rate system, so they also announced interest rate cuts soon. On March 4th, the Hong Kong Monetary Authority announced that it would cut its benchmark interest rate by 50 basis points to 1.50%, and said that it would continue to pay attention to market conditions, maintain the orderly operation of Hong Kong’s currency and foreign exchange markets, and ensure the stability of Hong Kong’s currency according to the linked exchange rate system. The Macao Monetary Authority also announced on March 4th that it would lower the basic interest rate of the discount window by 50 basis points to 1.50%. The Macao Monetary Authority said that since the Macao pataca is linked to the Hong Kong dollar, in order to maintain the effective operation of the linked exchange rate system between Hong Kong and Macao, the policy interest rate changes of the two places must be basically the same. Therefore, the Macao Monetary Authority followed the Hong Kong Monetary Authority to adjust its basic interest rate synchronously.

　　Loose expectations have been warming up around the world. Recently, the Bank of Japan purchased a record 101.4 billion yen ETF on March 2, and said that it would provide sufficient liquidity to the market through appropriate market operations and asset acquisition to ensure the stability of the financial market; The European Central Bank also expressed its readiness to take appropriate and targeted measures and take corresponding actions against potential risks if necessary.

　　Monetary policy is based on me.

　　After the Federal Reserve cut interest rates, China’s central bank did not follow suit and suspended open market operations.

　　On March 4th, the central bank announced that the total amount of liquidity in the banking system is at a reasonable and sufficient level, and no reverse repurchase operation will be carried out today.　

　　Color, chief economist of Founder Securities, believes that the COVID-19 epidemic appeared earlier in China, and the China government has taken effective measures to prevent and control the epidemic, such as medium-term lending facility (MLF) "interest rate reduction", reverse repurchase operation, refinancing rediscount, special refinancing, etc., to maintain a reasonable and sufficient liquidity. The interest rate cut by the Federal Reserve and other central banks is a lagging policy after the epidemic. China’s central bank is already a pioneer and does not have to follow.

　　As early as February 1, the central bank made it clear that it would set up a special refinancing loan of 300 billion yuan to provide financial institutions with low-cost funds and support financial institutions to provide credit support at preferential interest rates for enterprises. Before the financial market opened on February 3, the central bank predicted the timing and scale of liquidity in advance. Subsequently, on February 3 and 4, the central bank put sufficient supply liquidity into the market, and the accumulated liquidity in the two days reached 1.7 trillion yuan, which exceeded market expectations.

　　At the same time, China took the lead in "cutting interest rates", but different from the Fed’s interest rate cut, China guided the open market operating interest rate, MLF interest rate and LPR quotation to be lowered in a "relay" manner. On February 3rd, while carrying out a record 1.2 trillion yuan reverse repurchase operation, the interest rates of the current 7-day and 14-day reverse repurchase operations both dropped by 10 basis points, which exceeded market expectations. On February 17th, the winning bid rate of the 200 billion MLF operation carried out by the People’s Bank of China was lowered by 10 basis points; On February 20th, the one-year LPR decreased by 10 basis points to 4.05%, and the one-year LPR decreased by 5 basis points to 4.75%.　

　　For example, at the end of July last year, when the Federal Reserve announced a rate cut, China did not follow suit, and also suspended the open market operation on the same day.

　　There is room for countercyclical regulation

　　Obviously, the further easing of global monetary policy has opened up space for domestic monetary policy. Compared with Europe and America, the Bank of China has more room for conventional monetary policy easing.　

　　Recently, Liu Guoqiang, deputy governor of the People’s Bank of China, said in an interview with the media that as one of the few countries in the major economies to implement normalized monetary policy, China still has sufficient monetary policy space and sufficient reserves in the toolbox, so it is confident and capable of hedging the impact of the epidemic.　

　　Under this premise, the expectation of lowering the benchmark deposit interest rate has also increased, but the market is still controversial.

　　Liu Guoqiang said that the benchmark deposit interest rate is the "ballast stone" of China’s interest rate system, and it will be kept for a long time. In the future, it will be adjusted in a timely and appropriate manner according to the deployment of the State Council, taking into account the fundamental conditions such as economic growth and price level.　

　　However, it has been pointed out recently that lowering MLF and other methods should be used to drive down the financing cost of the real economy. At this time, lowering the benchmark deposit interest rate is a "turning back" in the interest rate marketization process. Many economists also believe that the effect of lowering the benchmark deposit interest rate may be limited.

　　In this regard, Wen Bin believes that it is residents and corporate deposits that really affect bank costs, accounting for more than 60% of bank liabilities. The change of MLF interest rate is more to convey the intention of monetary policy, which has limited effect on reducing the overall debt cost of banks, not to mention the frequent change of MLF interest rate. The high capital cost of banks also restricts the downward trend of LPR. Therefore, it is very necessary and urgent to lower the deposit interest rate, and we can’t think that lowering the deposit interest rate is the retrogression of interest rate marketization. On the contrary, the central bank’s "anchoring" of the deposit benchmark interest rate is still the core element and proper meaning of monetary policy.　

　　Liu Guoqiang said that next, targeted cuts to required reserve ratios will be selected for the banks that meet the service standards in inclusive finance in 2019 to release long-term liquidity.

Heavy duty truck Shandeka off-road RV’s latest price. Heavy Duty Truck Shandeka Off-road RV has two-wheel drive and four-wheel drive, which is used in China. The 2022 brand-new domestic heavy duty truck off-road RV Shandeka -C5H is the first domestic off-road RV in China. The box body of Shandeka has no friends, and the box body is a broken bridge thermal insulation structure. The sandwich structure of the wall is 65MM thick. The outer skin is German brand ultra-high strength glass fiber reinforced plastic plate, and the inner layer is German brand glass fiber reinforced plastic interior plate, with the same thermal insulation strength. The windows of the off-road touring car in Shanster adopt the exclusive windows of Novo Maddison, and are equipped with British brand sunshade and mosquito net. The tail 18500T-MAX 24 electric winch, the spare tire is electrically hung in the system, and two external storage boxes are hung. (Note: At the end of the article, there is a vehicle consultation telephone number with WeChat)

It should be noted that the new heavy duty truck Mann-borderless series provides users with two versions of dual-drive and four-wheel drive to meet the needs of different consumer groups, while this model is a four-wheel drive version, but the driving qualification is consistent, with a nuclear load of 6 people, all of whom can drive with C and get a blue card. After the expansion of the ring sofa series, the next step is the detailed introduction of this car. Let’s take a look at the layout of this expanded version.

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The layout of the soft leather wake-up sofa in the reception area can meet the needs of many people, and the deck sofa with pneumatic lifting dining table can be turned into a sofa bed; Fixed seat belts protect the personal safety of passengers during driving. The cushion is thick, and the curved backrest also provides a certain sense of support. Overall, the ride comfort is good; Two independent push-out windows on the inner wall of the sofa provide lighting and ventilation; Mitsubishi Heavy Industries inverter air conditioner (single cooling) has fast refrigeration effect and can adjust the temperature manually; Hanging cabinets are convenient for daily storage.

Solid wood in the car (red oak, USA) with brushed aluminum furniture+teak floor leather for environment-friendly RV; In terms of layout, the layout structure design of seating sofa+pneumatic lifting dining table+solid wood combined cabinet+bathroom+bed with transverse rear is adopted. The storage space of the whole car is very rich, which is highly practical for long-term outdoor tourists. The warm color atmosphere is closer to the home effect, so that members can feel the feeling of home even when traveling outside. The soft leather bag in the reception area can accommodate 4-6 people, and the sofa with a pneumatic lifting dining table can be turned into a sofa bed; Fixed seat belts protect the personal safety of passengers during driving. The cushion is thick, and the curved backrest also provides a certain sense of support. Overall, the ride comfort is good; Two independent push-out windows on the inner wall of the sofa provide lighting and ventilation; Heavy frequency conversion air conditioner (single cooling) has fast cooling effect and can adjust the temperature manually; Hanging cabinets are convenient for daily storage.

Fixed seat belts protect the personal safety of passengers during driving. The cushion is thick, and the curved backrest also provides a certain sense of support. Overall, the ride comfort is good; Two independent push-out windows on the inner wall of the sofa provide lighting and ventilation; Mitsubishi Heavy Industries inverter air conditioner (single cooling) has fast refrigeration effect and can adjust the temperature manually; Hanging cabinets are convenient for daily storage.

The solid wood combined cabinets in the kitchen area are designed in a sub-regional layout, separated by passenger doors. Different functions echo each other and make cooking orderly. The cabinet push-pull drawers are convenient for storing daily necessities and bowls. Other aspects are equipped with touch-type centralized control system+mechanical rocker switch, LCD TV, millet box, Japanese YAMAHA eight-speaker audio system (with subwoofer), range hood, microwave oven, Siemens induction cooker, 152L refrigerator for Sedford RV, Daewoo 3kg washing machine, Truma oil-fired heating and water-heating integrated machine, four-way monitoring, carbon monoxide/smoke alarm, etc. Indoor multiple 220V, 12V power sockets and USB charging interfaces can meet the daily charging needs. The bathroom adopts dry and wet integrated design, and is equipped with Sedford toilet, sink, toilet mirror, ventilator and shower head. Daewoo 3kg washing machine eliminates the time of hand washing and improves the efficiency of life; Waterway system: 400-liter clean water tank and 75-liter grey water tank. The water supply and drainage system of the whole vehicle has been treated with antifreeze to better adapt to the harsh environment such as extreme cold.

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Nowadays, "the dispute of Chinese etiquette" has become a technical term. Whether it refers to the dispute between the East and the West in a narrow sense (1583-1742) or a series of historical facts that have almost run through the whole communication between China and the West since the Ming and Qing Dynasties in a broad sense, the "Chinese etiquette dispute" can be called a major event in the long history of cultural exchanges between China and the West. It is of great significance to the comparison, dialogue and communication between different civilizations in the world today, and its importance is beyond doubt.

On May 11, 2019, the first international workshop on the frontier research of "Chinese Etiquette Debate and Nakanishi Rei Studies" was held in the Convention Center of Shanghai Normal University. With the innovative way of "interdisciplinary dialogue and parallel research", the workshop gathered more than 30 experts and scholars at home and abroad to explore and expand the way of communication and dialogue between China and foreign countries.

The first international workshop on the frontier research of "China’s Etiquette Debate and Nakanishi Rei Studies" brought together more than 30 domestic and foreign experts and scholars from Fudan University, Wuhan University, Central South University, Institute of World Religions of China Academy of Social Sciences, South China Normal University, Anhui University of Science and Technology, Vassar University in the United States and other Chinese and foreign universities and research institutes. The workshop was jointly sponsored by Shanghai Comparative Literature Research Association, Li Xu Wenming Dialogue Research Center of Fudan University and China Language and Literature Innovation Team of Shanghai Normal University, and was specifically undertaken by the editorial department of Comparative Literature and World Literature, the national key discipline of Shanghai Normal University.

The opening ceremony of the workshop was presided over by Associate Professor Ji Jianxun, majoring in comparative literature and world literature in Shanghai Normal University.

Professor Cha Tsinghua, Dean of School of Humanities and Communication, Shanghai Normal University, and Professor Liu Yunhua, Head of Comparative Literature and World Literature, delivered speeches respectively. Dean Cha first warmly welcomed many experts and scholars from home and abroad, and then introduced the characteristics of Shanghai Normal University’s comparative literature and world literature from three aspects: continuity of development, interdisciplinary and cross-cultural education, and the fine tradition of paying equal attention to academic research and personnel training, and put forward valuable suggestions for the future of disciplines, which should not only seize opportunities, but also continue to improve modestly and cautiously. Professor Liu Yunhua further pointed out that the purpose of the discipline is to create a relaxed, pleasant and truth-exploring academic environment, and placed deep expectations on the future development of young scholars. At the same time, Liu Jiaoshou announced that he would take this meeting as an opportunity to prepare for the establishment of the "Interdisciplinary Dialogue and Parallel Research Center" of Shanghai Normal University.

The conference consisted of a keynote speech in the morning and two parallel workshops in the afternoon. Under the unified theme of "Chinese Etiquette Debate and Nakanishi Rei Studies", 21 lectures were given, which cleared up many problems and promoted the academic understanding and research of "Chinese Etiquette Debate" from various angles and fields.

Li Tiangang: "Debate on Chinese Etiquette" —— Research Method and Its Expansion

The keynote speech in the morning is divided into two halves. The keynote speech in the first half was hosted by Yuan Zhaohui, a researcher at the Institute of World Religions of China Academy of Social Sciences. Professor Li Tiangang of Fudan University, with the title of "Debate on Chinese Etiquette: Research Methods and Its Expansion", discussed four issues. The first one was about "Debate on Chinese Etiquette", and he emphasized that not only western documents but also Chinese Manchu and other oriental documents should be cited in the research methods and its expansion. On the second hand, he pointed out that the "Chinese etiquette dispute" is nominally about "ceremony" and in essence involves concepts, namely God and God, soul and Anima. In the third aspect, he said that the in-depth discussion of the "Chinese etiquette dispute" depends on the continuous advancement of the research paradigm, and in the process, we should open our minds to new knowledge; Finally, taking his new work Kanazawa as an example, he introduced his research in the context of the history of thought, mainly considering what is religion and what is folk belief, and the close relationship between religion and belief and the daily life of ordinary people.

Liu Yunhua: What is the relationship between European Enlightenment and China culture?

Professor Liu Yunhua of Shanghai Normal University gave a lecture entitled "What is the correlation between European enlightenment and China culture? First of all, taking Leibniz as a case, he analyzed and pointed out that although Leibniz had contact with China culture through missionaries, he explained the Confucian "reason" with his deistic view, rather than being influenced by it to achieve ideological transformation. Furthermore, he pointed out that the influence can be divided into implanted and confirmed. When talking about the enlightenment’s understanding of western core concepts such as freedom, equality and democracy, China culture has no implanted influence on the west, but only confirmed influence in the process of collision. Finally, he reconsidered the position of "science and technology" in the history of thought, and pointed out that most thinkers in China in the late Ming Dynasty were always confined to political correctness and could not seek truth from facts, and their understanding of western science and technology was really limited.

Mingde Wei: How to read China’s classics? From the perspective of "Nakanishi Rei studies"

The keynote speech in the second half was hosted by Ivan Ruviditch, director of the International Drama Studio of Shanghai Normal University and associate professor of comparative literature and world literature. Professor Mingde Wei of Fudan University’s report "How to Read China Classics? From the perspective of "Nakanishi Rei Studies", he thinks that "Jing" has the same meaning as the western Textus, and it is woven intentionally, so it must have a structure, so we can observe the Patterns in the structure in turn, that is, the structural Patterns and layout. On this basis, he specifically analyzes the patterns in various types such as structural rhetoric according to historical traditions. It also points out that when we contact the text, we need to regard the whole text as a style of existence and writing. And we should learn to understand a classic and put all these factors into its definite rhetorical structure, just to produce what the work itself contains in those who are ready to read it and endure its obscurity.

Song Lihua: The Encounter between the East and the West —— Guo Shi’s Hunting China in Chinese Novels

Professor Song Lihua of Shanghai Normal University made an in-depth study of Guo Shili’s works with the theme of "Encounter between the East and the West: China in Guo Shili’s Chinese Novels". By analyzing the image of China in his Chinese novels, he pointed out that although Guo Shili took Europe, especially Britain, as the frame of reference in describing China, China was excluded from the mainstream of European scientific, artistic and commercial development and became the object that needed European attention and even rescue. However, his words about China’s national character should not be simply regarded as a distortion of the facts, but should be understood as a historical event that really happened, because it once truly shaped the history and relationship between China and the West.

Zhang Yaonan: From "Debate on Etiquette in China" to Comparative Philosophy in China and Europe —— A Preliminary Study on "Debate on Etiquette" in the History of Comparative Philosophy in China and Europe

Professor Zhang Yaonan of Beihang University gave a report entitled "From the Debate on Etiquette in China to Comparative Philosophy in China and Europe —— A Preliminary Study on the Debate on Etiquette in the History of Comparative Philosophy in China and Europe". He pointed out that "Comparative Philosophy in China and Europe" refers to the comparative study between Chinese philosophy and Western philosophy. Looking at its history from Han and Wei dynasties to the present, it has experienced or will experience six periods. As the fourth phase of comparative philosophy between China and Europe, the debate on Chinese etiquette can be observed in six steps, and further summarized from a philosophical perspective, that is, "the debate on Chinese etiquette" and the "Enlightenment Movement" in western Europe are the same movement, and the themes debated are orthodox and heresy, atheism and deity, polytheism and monotheism, rationality and belief, wisdom and superstition, and self-reliance and self-reliance. It also emphasizes that the summary of Hegel’s "China’s Backwardness Theory" and "Historical Progress Theory" is not in line with the reality of Chinese studies and cannot be established.

On behalf of the National Day: the first voice of the debate on etiquette in China

The first half of the workshop was presided over by Wang Lingling, editor of Journal of Beijing Administration College. Professor Guo Qing on behalf of South China Normal University gave a report entitled "The Preamble of Chinese Etiquette Debate". He took the analysis of sacrificial rites from the perspective of Gao Muxian’s interaction with Chinese and Western Confucian classics as an example, and pointed out that in the recent history of cultural exchange between China and the West, Dominicans, as one of them, have always shown themselves as opponents of Chinese etiquette, highlighting their historical image different from Jesuits’ "adaptation strategy". In fact, it’s not that Dominicans didn’t reconcile Yeru. As early as when he preached in the Philippines, Gao Muxian focused on building a dialogue bridge between Thomas theology and Zhu Xi’s Neo-Confucianism, and applied it to the field of sacrifice. Gao Muxian’s comments on China’s sacrificial ceremony constitute the target of Domingo’s understanding of Chinese etiquette.

Wang Ding ‘an: The Separation of Chinese and Western Sacrifices and the Re-development of Comparative Confucian Classics during the Ming and Qing Dynasties

Associate Professor Wang Ding ‘an of Zhejiang University of Technology is entitled "The Separation of Chinese and Western Sacrifice Rites and the Re-development of Comparative Confucian Classics". He believes that the topic of "whether Mass is a sacrifice or not" during the Ming and Qing Dynasties was being staged fiercely in Europe at the same time, but it was not fully developed in China because of suppression. Now we re-examine the problems, beneficial experiences and the possibility of re-launching Comparative Confucian Classics with Aquinas’ sacrificial theology, which unifies "object" and "way". We can find that the difference between "being" and "being like being" presented by the sacrificial object is nothing more than a concrete manifestation of the relationship between God and man; The "way" of offering sacrifices to both Ye and Confucianism shows obvious sacredness.

Xiao Qinghe: Breaking away from the mundane and becoming a saint —— The Catholic narrative about saint in the late Ming and early Qing Dynasties

Xiao Qinghe, an associate professor at Shanghai University, gave a report entitled "Going from the mundane to the holy: the Catholic narrative about the holy in the late Ming and early Qing Dynasties". By analyzing the evolution of the meaning of the word "holy" and related terms, he clearly showed the process of cultural exchange, conflict and integration between China and the West. He pointed out that the missionary equated Sanctus with "Saint", which not only changed the meaning of Chinese character "Saint" and enriched the content of "Saint" since Ming and Qing Dynasties, but also changed the understanding of Sanctus in European Christian tradition, and the thoughts and spiritual worlds of both sides were blended and changed.

Ji Jianxun: The Origin of the Debate on Chinese Etiquette and the Relationship between Chinese and Western Learning Systems

Associate Professor Ji Jianxun of Shanghai Normal University, starting from The Origin of the Debate on Etiquette in China and the Relationship between Chinese and Western Learning Systems, emphasized that the "Debate on Etiquette" should not be a problem only related to the West or the East, and the new understanding should put it back in the historical coordinates of Sino-foreign exchanges, and the key to solving it lies in identifying the origin of the debate and clarifying the Chinese and Western learning systems behind the conflict. Confronting the problem of "etiquette dispute" and the "two-way" between culture, education and religion in China society revealed from it can help us better understand the two different cultures of China and the West and oppose the "clash of civilizations".

Yang Huiling: A New Probe into the Anti-ancestor Worship Thought in the Debate between Chinese and Western Etiquette in Qing Dynasty

The second half of the first group of the workshop was presided over by researcher Yuan Zhaohui from the Institute of World Religions of China Academy of Social Sciences. Yang Huiling, a researcher at the Institute of Advanced Studies in Comparative Civilization and Humanities Exchange of Beijing Foreign Studies University, took the topic "A New Probe into the Thought of Anti-ancestor Worship in the Debate between Chinese and Western Etiquette in Qing Dynasty" as an example, and studied his understanding and reinterpretation of China culture from the standpoint of Christianity by analyzing Li Yufan, a representative figure who opposed Chinese etiquette in the Debate of Chinese Etiquette in the Vatican Library. He found that he was equally familiar with it even if he held a position and viewpoint against China’s "ancestor worship" culture. Therefore, in the process of cultural exchange between China and the West in history, both sides of the exchange have the process of understanding each other and absorbing each other, rejecting and abandoning, seeing differences in the same, and seeking common ground while reserving differences and integrating and innovating.

Gao Shengbing: Matteo Ricci’s Cultural Identity and Its Translation Strategies and Effects

Associate Professor Gao Shengbing of Anhui University of Science and Technology gave a report on Matteo Ricci’s Cultural Identity and its Translation Strategies and Effects. He analyzed Matteo Ricci’s choice of "God", "Soul" and "Diligene/Caritas" (to love/. The cultural identity of "Western Confucianism" makes Matteo Ricci compare or choose Confucian concepts or words in his discourse, and the cultural identity of Catholic missionaries makes Matteo Ricci choose foreignization in concept translation. As the "other" of China culture, the translated words he chose can be widely accepted, which deserves our consideration.

Jian Wu: "Individualization" and "Cultivation" —— A Comparison between Jung’s Analytical Psychology and Taoist Inner alchemy

Jian Wu, a teacher of Jiaxing University, took "Individualization" and "Cultivation": A Comparison between Jung’s Analytical Psychology and Taoism’s Inner alchemy as the topic, and through the interpretation of the most concentrated and important commentary text of Jung on Taoism’s Inner alchemy, distinguished the fundamental difference between Jung’s psychology and Taoism’s Inner alchemy, and Jung’s misunderstanding of "The Purpose of Taiyi Jinhua". He pointed out that Jung’s psychology and Taoism’s inner alchemy are ideographic codes of two discourse systems, which represent two sets of thinking paths, and their speech objects are both internal experiences, so their differences are actually greater than their similarities. If we say that Jung adopted the method of "Geyi", it may not be an exaggeration to take me as the main analytical psychology when interpreting the Purpose of Taiyi Jinhua (including the Classic of Wisdom and Life) for his own analytical psychology.

Tan Jie: Words and deeds attest to Taoism —— Characters and moral education in "stories of testifying to Taoism" in the late Ming Dynasty

Associate Professor Tan Jie of Central South University’s report is "Words and deeds attest to the truth: the characters and moral education in the story of testifying to the truth in the late Ming Dynasty". By tracing back to the ethical tradition of the Renaissance, he placed the story of testifying to the truth in the Chinese translation in the late Ming Dynasty in the humanistic ethical tradition of the Renaissance. Through the analysis of two typical characters, "King Philip" and "Bi Da Lie La", he investigated its transmission by quoting the words and deeds of western sages.

Jia Weizhou: Confucianism-Confucianism in the Dialogue between Ye and Confucianism in the Late Ming and Early Qing Dynasties

The first half of the second group of the workshop was presided over by Dr. LIM Hyebin, a teacher majoring in comparative literature and world literature at Shanghai Normal University. Associate Professor Jia Weizhou of Guangdong University of Finance and Economics is entitled "Confucianism-Confucianism in the Dialogue between Confucianism and Confucianism in the Late Ming and Early Qing Dynasties", trying to return to the historical text and the specific context in which the problems occurred, so as to understand the reasons why the religious interpretation of Confucianism occurred in the dialogue between Confucianism and Confucianism in the late Ming and early Qing Dynasties, the starting point of different views, the methodology of hermeneutics and the results of the debate. This understanding will provide specific historical enlightenment to the discussion of religious interpretation of contemporary Confucianism. At the same time, the western Confucianism-Confucian view can reflect the attitude towards the whole culture of China, and we can also see the historical formation path of the western China view and China’s western view.

Jiang Xiaojuan: An Islamic Chinese Translator Influenced by the Debate of Catholic Etiquette

Dr. Jiang Xiaojuan of Fudan University’s report is "Islamic Chinese Translators under the Influence of Catholic Etiquette Debate". She started with the stimulation brought to Islamic scholars by a series of activities of Jesuit missionaries entering China, emphasizing that while they were hit hard, the Jesuits’ writing and speaking activities also inspired Islamic scholars, stimulating them to promote the localization of Islam in the same way, and a number of Islamic Chinese translators headed by Wang Daiyu emerged. They advocated the further development of Islam in China by interpreting Confucianism and explaining the similarities between Islam and Confucianism, which contributed to the further China of Islam.

Li Qiang: Christians in China and the Modern Evolution of the "Etiquette Debate" in the Early Qing Dynasty —— Focusing on the manuscripts in Xujiahui Library

Li Qiang, a doctor from Shanghai University, took the modern evolution of the text "The Debate on Etiquette between Christians in China and the Early Qing Dynasty" as a topic-focusing on the manuscripts collected in Xujiahui Library. In his report, he systematically combed the modern evolution of "The Debate on Etiquette" as a product, so as to illustrate the historical inevitability of modern Catholicism releasing the bondage of "The Debate on Etiquette" to Christians in China.

Wang Hongchao: Religion, Politics and Culture —— A Study of Yi-ology of Suoyin School and Missionaries in China

Associate Professor Wang Hongchao of Shanghai Normal University is entitled "Religion, Politics and Culture: A Study on the Yi-ology of Suoyin School and Missionaries in China". He pointed out that the study of Zhouyi by missionaries in China was deeply rooted in the biblical interpretation through the example that China Suoyin School founded by Bai Jin hoped to find the information of ancient China’s GOD from the Book of Changes and Jacob’s interpretation of "God" in the Book of Changes and other classics in the late Qing Dynasty.

Wang Niecai: Revelation or Reason? Two Opposing Interpretations of the Confucian Classics during the Rites Controversy

The second half of the second group of the workshop was presided over by Professor Du Wenwei, President of North American Oral and Performing Literature Research Association, Professor of Vassar University in the United States and researcher of China Opera Academy. Associate Professor Wang Niecai of Zhaoqing University took the book Revelation or Reason? Two opposing interpretations of the Confucian classics during the Rites Contraversy, this paper first introduces two different interpretations of the Four Books in the West, that is, the Franciscan Lian Dang (1602-1669) and the seal of Confucianism (1664) adopted an allegorical method to interpret the true meaning of China classics as the revelation of Christianity, while rejecting the traditional Confucian classics. And the Jesuits adopted the rationalism method in The Four Books of Western Languages (1687) to coordinate the western rationalism with Confucianism. Through the parallel comparison of the two concepts, it is very intuitive to show how these two explanations are rooted in different theological traditions, which leads to the two sides taking opposite positions in Chinese etiquette disputes.

Wu Rui: A Textual Research on the Origin of Oriental Etiquette in Shakespeare’s Plays

Wu Rui, a researcher at Shanghai Theatre Academy, gave a report on the Origin and Development of Oriental Etiquette in Shakespeare’s Plays. He pointed out that Shakespeare’s works involved a lot of oriental content and oriental protagonists, such as Cleopatra, Othello, and Shylock. According to textual research, the main drama conflicts in Romeo and Juliet also came from the legends of two rival families in the East. By exploring the origins of oriental rituals in Shakespeare’s plays, we can provide a path for the orientalization of Shakespeare’s plays.

Wang Qiyuan: Xu Guangqi’s Legacy in Shanghai and Its Contemporary Significance

In the report entitled "Xu Guangqi’s Legacy in Shanghai and Its Contemporary Significance", Wang Qiyuan, an associate researcher at Fudan University’s Chinese Ancient Books Protection Institute, thinks that, as a first-rate figure who walked out of Shanghai in modern national history, if these places in Shanghai related to Xu Guangqi can’t be fully studied and developed, it is indeed a slight violation of the actions of the sages. Therefore, he made an in-depth investigation of Xu Guangqi’s legacy in Shanghai through the publication of a large number of local documents such as the "Shanghai Fu County Old Records Series" compiled by Shanghai Local Records Office and Tongzhi Museum.

Du Wenwei: On the Mutual Influence of Eastern and Western Cultures from the 90-year History of The Story of Grey Lan

Professor Du Wenwei, with the theme of "Looking at the Interaction between Eastern and Western Cultures from the 90-year History of Grey Lan Ji", systematically combed the spread and evolution process of Yuan zaju "Grey Lan Ji", and concentrated on analyzing the theme changes of "Grey Lan Ji" through various stage adaptations. He pointed out that the spreading history and the changing process of the theme reflected the mutual influence between the themes of eastern and western cultures and drama theory, and in this long-term mutual influence process, The Story of the Grey Lanji not only became a historical drama that was performed circularly on the eastern and western stages, but also spawned some modern dramas.

The results of this workshop are quite fruitful, and the teachers and students attending the workshop have had a heated discussion, which has made a great breakthrough in the paradigm and content of promoting the study of "Chinese etiquette dispute". I believe that there will be significant progress in the near future, and a brand-new and in-depth "Nakanishi Rei study" is taking shape. In December 2018, the Center for Comparative Literature and World Literature, a national key discipline of Shanghai Normal University, held the first forum of "Interdisciplinary Dialogue and Parallel Research", which aroused widespread concern in academic circles. On the basis of the first forum, this workshop is another academic grand meeting with the innovative mode of "interdisciplinary dialogue and parallel research", thus further contributing to the construction of the first-class discipline of China Language and Literature in Shanghai Normal University and making new contributions to the academic innovation of humanities in China.

In terms of research paradigm, scholars’ research shows that the academic discussion on "Chinese etiquette dispute" is starting from the field of history and turning into the fields of literature, philosophy, culturology and religion, showing a trend of multi-paradigm transformation; In terms of research content, the series of results of this workshop also show that the series of debates between Chinese and Western civilizations are ostensibly centered around "Chinese and Western etiquette", which is behind the differences and dislocation of the core concepts of the two heterogeneous civilizations, namely "keywords". These studies can be done from point to area, with a clear sense of problems, and provide important reference for the current in-depth exchanges and dialogues between China and foreign countries.

CCTV News:At this year’s two sessions, delegates and members from various fields brought a lot of new news. Dong Baotong, deputy to the National People’s Congress and deputy director of the National Atomic Energy Agency, said that China has mastered the fourth generation of advanced nuclear power technology, and its first demonstration project — — The world’s first pebble bed modular high temperature gas cooled reactor nuclear power plant has been connected to the grid for power generation.

The fourth generation nuclear power technology independently developed by China — — High-temperature gas-cooled reactor, the localization rate of equipment is as high as 93.4%, and the first demonstration project has been completed for grid-connected power generation. The heat generated by high-temperature gas-cooled reactor can meet most of the heat source requirements in ethanol purification, petrochemical industry, hydrogen production and other fields.

Dong Baotong, NPC deputy:The biggest advantage of high temperature reactor is actually its inherent safety, and it doesn’t need a big factory building and a thick containment like other nuclear reactors. At the same time, it has also promoted the whole industrial chain (development), and it can be expanded with the application in the future.

At the same time, China’s independent research and development of three generations of nuclear power technology — — The construction of Hualong No.1 unit is also progressing steadily. At present, there are four units connected to the grid at home and abroad, which have been recognized by users.

In addition to power generation, nuclear energy technology will gradually be applied to major projects in the aerospace field to provide power support for spacecraft carrying out deep space exploration missions.

Dong Baotong, NPC deputy:We "the Goddess Chang’e flying to the moon", we can use solar energy, because it is still in the solar system, now including going to Mars, and solar energy can also play a role. But if our future spacecraft or probes go into deep space and there is no solar energy, nuclear energy becomes almost the only choice.

Lian Junxiang and Xu Hanyi recently held a press conference in the State Council Press Office. The relevant person in charge of the National Bureau of Disease Control and Prevention said that due to the sharp increase in personnel flow during Spring Festival travel rush, it is expected that the epidemic situation in COVID-19 may rebound to some extent before and after the Spring Festival, and many respiratory diseases will continue to appear alternately or jointly in many parts of the country.

So, what is the toxicity of the new strain JN.1 in COVID-19? Will influenza and COVID-19 cross-infect?

one

The number of people infected with JN.1 strain in China is increasing.

According to the data of China Center for Disease Control and Prevention, the number of cases in COVID-19 increased from the end of last year to the beginning of this year.

On January 6th, this year, the number of newly confirmed cases exceeded 10,000 for the first time, reaching 10,684. The number of positive detections in the last week has increased significantly.

At present, the mainstream strain is still EG.5 and its subfamilies, but the number of people infected with the latest JN.1 strain is increasing. As Spring Festival travel rush is coming, the epidemic of the virus may still be variable.

2

The mortality of new strains in COVID-19 is not high.

So, how harmful is the latest JN.1?

According to the global data, the spread of Covid-19 JN.1 is rapid, but the risk has not improved.

JN.1 is a second-generation subfamily of Omicron BA.2.86 mutant, which was first detected in Luxemburg at the end of August last year.

According to the latest data from GISAID, JN.1 began to spread around the world in November last year, and it took only one month to become the global mainstream strain, accounting for 50% of the new cases every day. At present, this proportion has exceeded 70% and spread to at least 59 countries and regions around the world.

The rapid transmission is also reflected in the level of virus activity in wastewater. The higher the value of this indicator, the wider the spread of the virus.

According to the data of the US Centers for Disease Control and Prevention (hereinafter referred to as CDC), the concentration level of Covid-19 in wastewater in the United States was 12.85 in the week of December 30th, reaching the second highest level in history since the outbreak of COVID-19 epidemic in the United States.

According to relevant scholars, compared with the previous Covid-19, JN.1 virus has acquired a key new mutation, so its spreading ability is stronger.

Judging from the hospitalization and mortality, the influence of JN.1 did not exceed that of the previous strain.

According to the data of CDC in the United States, in the week of January 6th, there were 35,800 new hospitalized applicants in COVID-19, with an average of about 11 per 100,000 people.

Although the trend has increased, it is not too serious compared with the previous peak. At the beginning of 2022, the number of people applying for hospitalization in the United States due to Covid-19 infection peaked at about 45.5 per 100,000 people, which is 4.4 times of the current level.

Judging from the death situation, the number of people who died of COVID-19 infection in the United States is decreasing.

In the week of January 6th, the number of people who died of Covid-19 infection was 0.3 per 100,000 people. Last year’s peak was 1.2/ 100,000 people, which is also about four times the current level.

If compared with 2020, the gap is bigger, about 26 times as much as the current one.

three

It is unlikely that influenza will merge with COVID-19.

At present, the positive rate of influenza virus detection in China has declined, but among them, the proportion of B-stream is increasing, and the proportion of mixed infection is increasing recently. It may be infected at the same time, or it may be that "A stream is just right and B stream is recruited".

According to the data of China National Influenza Center, in the first week of 2024, the proportion of mixed infection increased to 36%, compared with only 12.4% a month ago.

With the spread of JN.1, will people who have had the flu still be infected with COVID-19?

Judging from the research data, it is possible, but the proportion is not high.

According to a paper published two years ago by scholars from the University of Aix-Marseille, 54 related studies around the world were collected and analyzed, including the data of about 18,000 patients infected with COVID-19.

The results showed that only 0.7% of the patients were co-infected with COVID-19 and influenza, that is to say, only about 140 of the 18,000 patients were co-infected with Covid-19 and influenza virus.

But compared with B-stream, A-stream is more likely to be infected with COVID-19.

The data showed that among 143 patients with concurrent infection, 74% were infected with influenza A, 20% were infected with influenza B, and only one patient was infected with three viruses at the same time, with a low probability. Refined to the age of patients, children are more likely to be infected than adults.

The data shows that the proportion of children with infection is 3.2%, which is about 10 times as much as that of adult patients (0.3%).

four

Complicated with infection or aggravated illness

Although the possibility of concurrent infection is very low, once infected, it may aggravate the condition.

As early as 2021, the national key experiment of virology found that in the experimental mice, co-infection would cause more cells and tissues in the body to be attacked by the virus, which would lead to more serious lung pathological reactions, a large number of cell infiltration and obvious alveolar necrosis [2].

From the comparison of patients’ data, co-infection does lead to more serious symptoms of patients.

According to the paper published by Nanjing Medical University in 2022 [3], compared with patients infected with COVID-19 alone, patients with combined infection are more likely to need a ventilator, and the risk is 2.31 times that of patients infected with alone.

Among them, the risk of using a ventilator with COVID-19 and H1N1 infection is higher, which is 5.04 times that of single infection.

Symptoms mainly focus on respiratory complications, such as acute hypoxic respiratory failure, acute respiratory distress syndrome, heart injury and acute kidney injury.

Not only that, patients with infection are also more likely to live in ICU.

Research shows that [3], the risk of patients with co-infection staying in ICU is 2.09 times that of patients with single infection.

According to the paper published in the International Journal of Epidemiology in 2021 [4], in the face of co-infection, the elderly population is more likely to be seriously ill and more likely to cause life-threatening.

For example, among patients aged 50-59, 60% were admitted to ICU after infection, while the proportion of single infection was 24%. In patients aged 80 and above, the proportion of death after infection was 66.7%, which was also higher than that of single infection (46.5%).

However, co-infection may not increase the risk of death. Studies have shown that [3], there is no significant correlation between co-infection status and death.

Including the elderly, children and high-risk groups with basic diseases, it is necessary to pay attention to timely differential diagnosis and take related drugs after symptoms of upper respiratory tract infection, so as to alleviate symptoms, shorten the course of disease and reduce the risk of severe illness and hospitalization.

Paper citation:

【1】Dao, T. L., Colson, P., Million, M., & Gautret, P. （2021）. Co-infection of SARS-CoV-2 and influenza viruses: a systematic review and meta-analysis. Journal of Clinical Virology Plus, 1（3）, 100036.

【2】Bai, L., Zhao, Y., Dong, J., Liang, S., Guo, M., Liu, X., … & Xu, K. （2021）. Coinfection with influenza A virus enhances SARS-CoV-2 infectivity. Cell research, 31（4）, 395-403.

【3】Cong, B., Deng, S., Wang, X., & Li, Y. （2022）. The role of respiratory co-infection with influenza or respiratory syncytial virus in the clinical severity of COVID-19 patients: A systema tic review and meta-analysis. Journal of Global Health, 12.

【4】Stowe, J., Tessier, E., Zhao, H., Guy, R., Muller-Pebody, B., Zambon, M., … & Lopez Bernal, J. （2021）. Interactions between SARS-CoV-2 and influenza, and the impact of coinfection on disease severity: a test-negative design. International Journal of Epidemiology, 50（4）, 1124-1133.

Original title: "The National Disease Control Bureau said that the epidemic situation in COVID-19 may rebound around the Spring Festival, and the harm of new strains is detailed."

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　　There are 19 liquor stocks in A shares, with a total market value of over 1 trillion as of May 5 this year. Who would have thought that after 26 trading days, the market value of only four leading stocks has exceeded one trillion. Yesterday, the market value of Kweichow Moutai was 594.2 billion, once again exceeding the market value of China Life Insurance of 593 billion.

　　Yesterday, the growth rate of the wine-making sector slowed down, only rising by 0.4%, ranking fourth from the bottom in the industry sector, but the market value of its four leading stocks has exceeded one trillion. Beijing Youth Daily reporter noted that as of yesterday’s close, the market values of Kweichow Moutai, Wuliangye, Yanghe and LU ZHOU LAO JIAO CO.,LTD were 594.232 billion, 207.601 billion, 136.91 billion and 71.347 billion respectively, with a total market value of 1,010.09 billion, approaching the total market value of China Agricultural Bank of China of 1,026.2 billion yuan.

　　There are 19 liquor stocks in A shares, with a total market value of over 1 trillion as of May 5 this year. Who would have thought that after 26 trading days, the market value of only four leading stocks has exceeded one trillion. It is also known that the total output of A-share liquor companies in 2016 was 1,354,800 tons, accounting for 10% of the national output; The total revenue related to liquor of these 19 listed liquor enterprises was 120.2 billion, and the net profit was 36.455 billion, with an average liquor gross profit margin of 67.07% and an average net profit margin of 18.57%.

　　It is worth mentioning that the share price of Kweichow Moutai hit a new closing high yesterday, reaching 473.04 yuan, and its market value not only surpassed Sinopec, but also surpassed China Life again. Yesterday, the market value of China Life was 593 billion yuan. This is the second time that the market value of Kweichow Moutai has surpassed that of China Life Insurance. As early as April 18th this year, the intraday share price of Kweichow Moutai broke through 400 yuan and reached a record high. At the close, Maotai closed at 404.65 yuan, with a stock increase of 2.24%. Its market value reached 508.3 billion yuan, surpassing China Life Insurance, and its A shares ranked sixth. Based on the closing price on April 18th, the market value of China Life was 500.806 billion yuan, while that of Maotai was 508.320 billion yuan, surpassing that of China Life.

　　On June 10th, Sinopec, which refined hundreds of millions of tons of oil, was defeated by Maotai, which brewed tens of thousands of tons of wine. As of the close of the day, Kweichow Moutai, with a market value of 585.062 billion yuan, surpassed China Petrochemical’s A-share market value of 583.858 billion yuan, ranking sixth in the total A-share market value.

　　On the occasion of the second anniversary of the stock market crash in 2015, the market value of Maotai was only in the early 200 billion. Since then, it has started the "runaway" mode: in 2016, there were only three negative lines on the monthly line, and in 2017, the monthly line was all positive. In July 2016, the stock price broke through 300 yuan with a market value of 394.5 billion yuan; After a small finishing, Kweichow Moutai continued to move upwards, driving the wine-making sector to attack across the board. On April 20th this year, Kweichow Moutai’s share price rose to the top of 400 yuan in one fell swoop, becoming the highest-priced A-share stock, with a market value of about half of Guizhou’s GDP, surpassing Diageo, the world’s veteran champion of spirits, with a market value of 509.68 billion yuan, and becoming the world’s most valuable winery.

　　The market believes that the recent surge in the market value of Maotai is not unrelated to its large-scale operation of Maotai College. Maotai College, sponsored by Guizhou, China Maotai Distillery (Group) Co., Ltd., is a non-profit private college at the undergraduate level, which is positioned as an application-oriented college. The number of full-time students is tentatively set at 5,000, and the first five undergraduate majors are brewing engineering, grape and wine engineering, food quality and safety, resource recycling science and engineering and marketing.

　　Although Kweichow Moutai has hit record highs, brokers still give it a higher target price and rating. Pacific Securities’ neutral expectation gives Maotai 25 times PE, with a corresponding market value of 860 billion and a corresponding stock price of 685 yuan. TF Securities gave Maotai a 27-fold valuation in 2018 and raised its 12-month target price to 615 yuan; China Merchants Securities maintains its target price of 500 yuan according to 22 times PE in 2018 and continues to strongly recommend it; On the other hand, Shen Wanhongyuan slightly raised its profit forecast based on Maotai’s first quarterly report exceeding expectations, with a one-year target price of 520 yuan, which is 24 times the performance of the 2018 report.

　　Text/reporter Liu Shenliang

Whether you pay attention to the new energy automobile circle or not, you should have heard of Xiaomi automobile more or less. Last year, it was born, and with good product strength and traffic blessing, it quickly became a hot topic model. This year, Xiaomi’s second model will also come, and what kind of performance will it have?

According to the latest news, Xiaomi YU7 is positioned as a medium and large SUV, with an estimated price of 300,000-400,000, which is expected to be officially launched in June-July 2025. Moreover, the entry-level version of the new car is equipped with a large battery and a laser radar, and competitors point directly at mainstream models such as Tesla. Recently, following the announcement of the application information by the Ministry of Industry and Information Technology, the latest real car map about the car was exposed again.?

What are the highlights of Xiaomi YU7 real car?

Judging from the real car, Xiaomi YU7 still adopts the familiar Xiaomi family design language as a whole, and the bullet-shaped headlight groups on both sides of the enclosed grille have great visual effect and good recognition. In addition, the new car is also equipped with a large-size blackened air inlet, which further enhances the sporty atmosphere of the whole car with the triangular diversion grooves on both sides.

In detail, the upper part of the headlight group of Xiaomi YU7 adopts hollow design, which can better guide the airflow to the tail end of the front hood compartment for discharge, thus further optimizing aerodynamics and reducing wind resistance.

As for the body part, Xiaomi YU7 adopts the big-slip-back coupe style. The roof line is dynamic and smooth, and the front of the car looks very slender, giving people a body posture that is ready to go. In addition, the new car is also equipped with new-style wheels and yellow brake calipers. The side-looking camera at the front fender and the lidar on the roof are not absent, or it will be equipped with Xiaomi Pilot intelligent driving system.

In terms of body size, according to the known information at present, the length, width and height of rear-wheel drive models are 4999/1996/1608mm, and the length, width and height of four-wheel drive models are 4999/1996/1600 respectively, and the wheelbase is 3000mm, which can be said to be a whole circle larger than Tesla Model Y.

From the rear of the car, the penetrating taillight design of Xiaomi YU7 is basically the same as that of Xiaomi SU7, and it is expected to bring good visual effects after lighting. In addition, the top of the new car is also equipped with a small tail and a hollow spoiler, which is decorated with a large diffuser at the lower enclosure, and the sports atmosphere is full.

In terms of interior, combined with the latest spy photos and some previous details, Xiaomi YU7 will also continue the family-style design, but the details will also be adjusted. In addition to the three-position steering wheel that is the same as Xiaomi SU7, the new car will be replaced with a penetrating front-end display screen, which may take into account the display functions such as dashboard and navigation information, and with a large-size screen in central control, to create a stronger sense of science and technology.

Moreover, the central channel area of Xiaomi YU7 has also been adjusted, and it has become more concise without a row of physical buttons on Xiaomi SU7. In addition, practical designs such as wireless charging of mobile phones and cup holders are also preserved.?

What is the dynamic performance of Xiaomi YU7?

According to the latest application information, Xiaomi YU7 will provide a single-motor rear-drive version and a version. Among them, the maximum power of the single motor version is 235kW and the maximum speed is 240km/h, which is matched with the group; The maximum power of the front and rear motors of the dual-motor version is 220/288kW and the maximum speed is 253km/h, which matches the group, but the specific cruising range is not disclosed in the application information.

As far as the known information is concerned, the power performance of Xiaomi YU7 is still outstanding, and it is reported that its 100-kilometer acceleration will reach 3 seconds. Referring to the new Tesla Model Y, its high-performance version has a total motor power of 357kW and an official acceleration time of 3.7 seconds.?

Can Xiaomi YU7 be the next explosion?

In the past year, Xiaomi automobile had a splendid scenery. Although the first model Xiaomi SU7 was launched less than a year ago, the actual delivery reached 135,000 vehicles, far exceeding the original sales target of 70,000 vehicles. In December, the monthly sales volume reached 25,000+vehicles, which was particularly eye-catching among the new forces. With this "east wind", the arrival of Xiaomi YU7 is also optimistic by the industry.

Judging from the currently known product information, Xiaomi YU7, as the first SUV model of Xiaomi Automobile, should not be too low in terms of body size, dynamic performance and intelligent driving level. The official seems to be full of confidence in this new car. After Tesla’s official social media said "Rejuvenate Model Y, despite the contrast", Lei Jun also replied "Yes" on social media, which seems to be light and windy, but it is actually hidden.

In terms of selling price, it was expected to be around 300,000-400,000, but we guess there should be room for the actual selling price. After all, the starting price of Tesla Model Y is currently 249,900. In addition, according to the previous pricing law that SUVs of the same level will be higher than cars, the starting price of Xiaomi YU7 should be higher than that of Xiaomi SU7. At present, the starting price of Xiaomi SU7 is 215,900, so the starting price of Xiaomi YU7 is likely to be around 240,000. If more surprises are given on this basis, it is very likely to become the next explosion.

Conclusion:

On the whole, the comprehensive strength of Xiaomi YU7 is still worth looking forward to, and the arrival of the new car will further enrich the family product lineup, and it is also expected to make a greater breakthrough in sales. However, for Xiaomi Automobile, the biggest concern is the production capacity. I don’t know if it can complete its delivery target of 300,000 vehicles in 2025 with the commissioning of the second phase plant. What do you think of this? Let’s talk about it.

　　Cctv news: The State Financial Supervision and Administration Bureau issued a notice on matters related to the connection between individual tax deferred commercial endowment insurance pilot and individual pension. The full text is as follows:

　　Shanghai, Jiangsu, Fujian and Xiamen Supervision Bureaus of the State Financial Supervision and Administration Bureau, China Bank Insurance Information Technology Management Co., Ltd., a pilot company of personal tax deferred commercial endowment insurance:

　　In order to implement the Opinions of the General Office of the State Council on Promoting the Development of Individual Pensions (No.7 [2022] of the State Council), the Measures for the Implementation of Individual Pensions (No.70 [2022] of the Ministry of Human Resources and Social Security), and the Notice of China Banking and Insurance Regulatory Commission, China on Relevant Matters Concerning Insurance Companies’ Personal Pensions (No.17 [2022] of the Banking Insurance Regulatory Commission), and promote the healthy and orderly development of individual pension businesses, In consultation with the Ministry of Finance, the Ministry of Human Resources and Social Security and the State Administration of Taxation, the General Administration of Financial Supervision decided to carry out the pilot project of individual tax deferred commercial endowment insurance (hereinafter referred to as individual tax deferred endowment insurance) and the convergence of individual pensions. The relevant matters are hereby notified as follows:

　　1. The pilot company of individual tax deferred pension insurance (hereinafter referred to as the pilot company) shall adhere to the principles of compliance, initiative and convenient operation, do a good job in policy propaganda, optimize the handling process, safeguard the legitimate rights and interests of customers, carry out the pilot business of individual tax deferred pension insurance in an orderly manner, and in principle complete all the work before the end of 2023.

　　Second, China Bank Insurance Information Technology Management Co., Ltd. (hereinafter referred to as Yinbaoxin Company) shall strengthen the construction and operation management of the information platform of individual tax deferred pension insurance and the information platform of individual pension in the banking insurance industry (hereinafter referred to as the platform of bancassurance industry), and support the connection between the pilot of individual tax deferred pension insurance and individual pension.

　　III. Yinbaoxin Co., Ltd. shall co-ordinate the confirmation of the policy information of individual tax deferred pension insurance. Within three working days from the date of issuance of this notice, Yinbaoxin Co., Ltd. shall provide its individual tax deferred pension insurance policy information, including basic information of the insured and payment information, to all pilot companies according to the information of the individual tax deferred pension insurance information platform. Since September 1st, 2023, Yinbaoxin Company has closed the new interface of insurance contract of tax deferred pension insurance information platform, stopped the new account opening function of tax deferred pension insurance policyholders (hereinafter referred to as policyholders), and stopped issuing tax deduction vouchers for tax deferred pension insurance to policyholders.

　　Four, the pilot company will check the information provided by the bank insurance company with the relevant information of the company, and the inconsistent information shall be confirmed with the bank insurance company one by one. Within 15 working days from the date of issuance of this notice, the pilot company shall determine the policy information of individual tax deferred endowment insurance and feed it back to the bancassurance company. Since September 1, 2023, the pilot company stopped selling tax deferred pension insurance products to new customers, and supported the change of tax deferred pension insurance policy to personal pension tax deferred pension insurance policy.

　　5. After the pilot company completes the docking with the platform system of the bancassurance industry, it shall submit a description of the docking to the General Administration of Financial Supervision, and the General Administration of Financial Supervision shall include the individual tax deferred pension insurance products it has conducted in the list of individual pension insurance products. Individual tax deferred pension insurance products of pilot companies that have not carried out individual tax deferred pension insurance business shall not be included in the list of individual pension insurance products.

　　If a pilot company applies for filing other personal pension insurance products, it shall meet the requirements for the insurance company to carry out personal pension business.

　　Six, the pilot company shall support the insured who has not yet entered the stage of receiving the pension annuity, and after completing the opening of the personal pension account and the opening or designation of the personal pension fund account, the application for changing the tax deferred pension insurance policy to the personal pension tax deferred pension insurance policy is put forward.

　　Seven, after receiving the applicant’s application for policy change, the pilot company shall prompt it to check the tax deferred old-age insurance payment and personal pension fund account payment in 2022 and 2023. If the above two payments totaled more than 12,000 yuan in that year, the applicant can apply for a refund of the excess premium of tax deferred old-age insurance with the relevant payment certificate. The pilot company shall obtain the confirmation of the insured whether it is necessary to refund part of the premium to it.

　　If the applicant applies for refund of the premium, the pilot company shall verify the relevant certificates within 10 working days, refund the excess premium and obtain the confirmation of the applicant.

　　Eight, the pilot company in accordance with the provisions of article seventh of this notice to obtain the confirmation of the insured, in accordance with the following procedures for policy changes:

　　(1) Preserve the individual tax deferred endowment insurance policy by changing the bank account information of the applicant, and notify the applicant of the processing result;

　　(two) the preservation information submitted to the tax deferred pension insurance information platform;

　　(three) to stop the business operation of the insured’s tax deferred pension insurance policy;

　　(4) Check the basic information of the tax deferred pension insurance policy, the premium information of the tax deferred pension insurance paid and the account value information with the bancassurance company and submit them to the bancassurance industry platform.

　　Nine, after the completion of the policy change, the pilot company shall make a prompt to the insured on the following matters, and obtain the confirmation of the insured:

　　The tax deferred pension insurance policy has been changed into a personal pension tax deferred pension insurance policy, and the insured subsequently pays the premium through the personal pension fund account; The insured needs to check the total amount paid by the individual tax deferred pension insurance policy and the individual pension fund account, and make reasonable arrangements for the subsequent individual pension fund account payment in the remaining time of 2023 according to the annual payment ceiling of 12,000 yuan. The payment beyond the limit cannot be deducted before personal income tax.

　　According to the Announcement of the Ministry of Finance and the State Administration of Taxation on Individual Income Tax Policies for Individual Pensions (Announcement No.34 of the Ministry of Finance and the State Administration of Taxation, 2022), Shanghai, Fujian, Suzhou Industrial Park and other areas that have implemented the pilot project of individual tax deferred old-age insurance will be implemented in accordance with the relevant provisions of the announcement from January 1, 2022, that is, the total expenditure of individuals purchasing individual tax deferred old-age insurance and the payment to individual pension fund accounts can be within the limit of 12,000 yuan per year.

　　Ten, such as the applicant’s application, the pilot company can through the policy approval way, the individual pension tax deferred pension insurance policy for the following treatment:

　　(a) add a one-time collection method to the contract, and the collection amount is the value of the product account at the time of collection;

　　(2) Add a clause in the contract that allows the insured to surrender, but in the case of new surrender, the cash value of the first three policy years shall not be less than 97%, 98% and 99% of the account value.

　　Personal pension tax deferred pension insurance policy surrender and receive related funds should meet the requirements of closed management of personal pension fund accounts.

　　Eleven, in the process of connecting the pilot business of individual tax deferred pension insurance with personal pension, the bank insurance company shall submit relevant information to the tax authorities as required.

　　The pilot company shall submit information to the bancassurance industry platform in accordance with the provisions when carrying out the business related to individual pension tax deferred pension insurance policies. The bancassurance company shall submit relevant information to the personal pension information management service platform in accordance with the regulations.

　　Twelve, the pilot company shall not support the application for policy change put forward by the insured who has begun to receive the pension annuity.

　　Thirteen, for the insured who has started to receive the pension annuity, the pilot company can add a one-time payment method to the tax deferred pension insurance contract through policy approval according to their application, and the amount received is the difference between the personal account value at the end of the accumulation period of the tax deferred pension insurance product and the amount received. When an individual receives it according to the regulations, the pilot company shall withhold and remit the personal income tax payable.

　　Fourteen, since the date of issuance of this notice, the pilot company shall make a three-month announcement through its official website, and take one of three ways in turn, namely telephone, text message and writing, to give tips on the following contents:

　　(a) the time schedule for the pilot company to carry out the pilot business of individual tax deferred pension insurance and personal pension;

　　(two) the requirements and procedures for the policy change and refund of the insured who has not yet entered the stage of receiving the pension annuity;

　　(three) the requirements and procedures for the applicant who has started to receive the pension annuity to apply for a one-time payment;

　　(four) the requirements and procedures for the change of individual pension tax deferred pension insurance policy;

　　(five) the service situation of the tax deferred pension insurance information platform;

　　(6) Requirements for the closed management of individual pension fund accounts;

　　(7) Preferential tax policies for individual pensions;

　　(eight) other matters related to the protection of the rights and interests of the insured.

　　Fifteen, since January 1, 2024, the tax deferred pension insurance information platform stopped providing account management, renewal payment, information inquiry and other services for the insured. After the pilot project of individual tax deferred pension insurance and personal pension are fully completed, the information platform of individual tax deferred pension insurance stops serving. The pilot company shall do a good job in the policy management of the insured who has not joined the individual pension system.

　　16. From now until December 31, 2023, the pilot company shall submit the progress of the connection between the pilot business of individual tax deferred pension insurance and individual pension to Yinbaoxin Company within 5 working days after the end of each month. The bancassurance company shall, within 10 working days after the end of each month, summarize the situation of the pilot companies and submit a report to the General Administration of Financial Supervision.