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Walking into the story behind business

Source: Blizzard China official Weibo

Over 500,000 players call overnight.

Writing/Meng Huiyuan

Editor/Li Jinlin

Typesetting/Annalee

In recent days, the game circle’s "Xi Fei returned to the palace" drama began.

On April 10th, Blizzard officially announced that it had reached an agreement with Netease to return to the China market, and vividly interpreted what it meant to be "divorced for nearly a year and a half, and it was better to return home".

At the beginning, when "wrangling" happened, Blizzard and Netease blamed each other, and the scene was once very ugly. Now, with Hershey, Blizzard and Netease can sit together again and discuss the compensation benefits for players. Of course, judging from various signs, the combination of game manufacturers is not only the need of their own development, but also the entanglement of interest exchange.

But no matter what kind of consideration, the behavior of the game company, only the players are finally injured.

Abandoned veteran player: I can’t stop cursing and can’t let go.

After Blizzard officially announced that its games will begin to return to the domestic market in the summer of 2024, netizens were excited for a while, and the excitement was comparable to that of the New Year.

Some people recall the past and want to relive the beauty of the game time: "I miss the vegetable garden on my mid-mountain, I miss whether my sunflower has eaten well, whether the song can be sung, and whether it will only be sung to me. I miss my hearthstone Tianma, which is healthy and unhealthy, and I will ride it to soar in the sky and travel all over Azeroth."

Some people care about the gains and losses, urging the players to pay compensation during the suspension period: "It is a good thing to return, but there are also some concerns to be raised here. For example, during the suspension of service, the store tokens and the monthly and annual rewards of the store; Rewards, prestige, illusion, etc. that are often missing in various activities (holiday activities) and weeks during the period of stopping taking medicine; The pvp season rewards that were missing during the suspension period, etc. The catch-up mechanism after the new service. If the above content is not handled well, the reopening of the national service is also the carnival of the studio. "

Others scolded from the beginning to the end, claiming that the most innocent players were gamers: "At that time, one person acted as if he didn’t need China players at all, and the other person said that the other party wanted our information to touch the bottom line. What does it mean to make up now? What is not the bottom line is not as important as money. "

Game players are all in phase.

Qin Zhen, a veteran Warcraft player, thinks that all the seemingly opposing voices on the Internet are understandable. "For example, the game World of Warcraft is basically a lot of youthful memories of the post-80s and post-90s. For this typical emotional game, the more people scold it, the more they love it. Moreover, scolding it is also afraid that it will abandon domestic players again. It’s a fatal blow that memories of youth, who has spent so many years, said no, no, no,no. "

"Imagine that one day Jay Chou collapsed and all the songs could not be heard. Can you accept it as an iron powder?" Qin Zhen told Zinc Scale that one of the most popular sayings among players now is: "Don’t forget that players are just victims of Microsoft and mobile violence". The point that makes everyone unhappy is that "the game company acts to let the players pay the bill. But the problem is that the player is innocent! " .

Obviously, at the beginning, Blizzard and Netease suddenly got divorced, which caught the players off guard. However, it seems sincere to see all kinds of promises and actions made by Blizzard officials after their return.

The discovery of zinc scale has been clearly mentioned in "Try to heal, then recover excessively-a letter to the national service Blizzard gamers", "When the server is turned on, we will ensure that your account data is completely preserved", directly feeding the players who are willing to return. A reassurance.

In addition, when Netease is recruiting for Blizzard Games, the released job requirements can also be seen as additional requirements such as "arranging sincere compensation content when the server restarts" and "fully understanding the game content during the suspension period, and arranging appropriate operational content to help players regain the opportunity to obtain these contents as much as possible".

These actions have made many Blizzard players who are "outspoken" consciously wait for the specific opening time. By the time the zinc scale was published, 525,000 people had reserved World of Warcraft. "Anyway, I have already made an appointment. The new’ cake’ drawn by the game company is delicious. Wait until I taste it first." Qin Zhen said so.

Looking at the market, Blizzard can’t let go of millions of players.

From November 2022, Blizzard announced that it would break up with Netease, and on April 10, 2024, Blizzard officially announced that it would return to cooperate with Netease again. Blizzard, which had made a high-profile announcement to withdraw from the China market, also chose a high-profile return after nearly a year and a half of absence (Blizzard’s Battle.net server in China was officially closed on January 24, 2023).

In fact, looking back, the reason why Blizzard and Netease "divorced" has been inconclusive.

At that time, it was rumored that the cooperation conditions proposed by Blizzard were harsh, requiring Netease to develop other IP mobile games for global distribution, but Netease was not allowed to share the proceeds except China, and Netease was required to provide a deposit and two-year advance payment. In addition, Blizzard also wants to control all intellectual property rights and data control for China players.

The statement issued by Blizzard said, "Because Netease has not reached a renewal agreement that conforms to Blizzard’s operating principles and promises to players and employees". In this regard, Netease said, "The conditions put forward by Blizzard are harsh, and it is impossible to reach an agreement on some key terms involving sustainable operation and the core interests of China players."

In other words, the core interests of the two companies are inconsistent, and cooperation will naturally not continue.

Although we can’t cooperate for the time being, the China market really smells good. After all, Activision Blizzard mentioned in the financial report of the third quarter of 2022 that the blizzard works jointly launched with Netease in Chinese mainland contributed about 3% of Activision Blizzard’s total revenue. According to the report of the new knowledge of the game, if the blizzard part is taken out independently, the "3%" here is equivalent to 13.5% of the revenue in 2022, equivalent to about 1.603 billion yuan.

Mike Ybarra, president of Blizzard, also said in an interview with the media: "There are millions of players in Chinese mainland who love Blizzard games, and everyone in Blizzard wants to make sure that they can play our games. We are a global company, and I hope Blizzard games will spread all over the world, including Chinese mainland. Therefore, when we make progress, we will evaluate this and see what will happen. "

The opportunity of "remarriage" appeared in October 2023, but this time the main body of cooperation with Netease changed from Blizzard to Microsoft.

According to a number of media reports, shortly after Microsoft officially acquired Activision Blizzard, the parent company of Blizzard Entertainment, for about 68.7 billion US dollars, it began to renegotiate the return of Blizzard’s national service with Netease, and it was basically finalized in December last year that it would re-cooperate. One of the clear clues is that on December 20, 2023, Netease Great God platform re-launched the World of Warcraft community.

Blizzard officially announces return

Anyway, now the boots have finally landed successfully. Even though we broke up with Netease, on the basis of cooperation for more than fifteen years in the past, this wonderful drama of reconciliation after breaking up always gives people an unexpected but reasonable feeling.

On the one hand, it is the version number problem. Blizzard’s whole family has a total of 12 version numbers registered under Netease’s name. If Blizzard changes its agent, it is necessary to reapply for the version number after the game stops serving, and the number of imported version numbers is more scarce than that of domestic games. On the other hand, it is a physical server. Even if the agent is changed, Blizzard has to get back the historical user data, which is now in Netease’s hands.

Therefore, in the eyes of many people in the industry, Netease has almost become a necessary option for Blizzard’s return, and the release of cooperation news only confirms their judgment.

Netease, the "pick-up man", laughed?

From Netease’s perspective, it was very ugly when we broke up with Blizzard.

Netease once fiercely countered in an official statement, "Blizzard’s proposal is outrageous, inappropriate and not in line with business logic", calling it "overconfident" and "take whatever you want, ride a donkey to find a horse, and get divorced". Netease canteen has also launched new dishes "Blizzard Green Tea Rape" and "Blizzard Green Tea Small Pacai", directly playing with stalks to insinuate Blizzard.

But once again, Netease is willing to actively strive for it.

Thanks to the help of mobile games such as Egg Party and Going Against the Water, and the stable performance of Fantasy Westward Journey, Netease’s game business revenue reached 81.6 billion yuan in 2023, up 9.4% year-on-year, accounting for 78.8% of the total revenue. This achievement made Netease offset the impact of its breakup with Blizzard in early 2023, and also drove the annual revenue to pass the 100 billion mark in one fell swoop.

However, the competition in the game industry in the domestic market is fierce. Take the Egg Party, which Netease values most, as an example. Although it has brought it a lot of revenue, the Egg Party is often caught in the whirlpool of negative public opinion of "inducing recharge" and "minors paying a large amount". At the same time, the same type of game "Yuan Meng Xing" created by Tencent’s late arrival has performed well, which has also brought a lot of pressure on the business performance of "Egg Party".

However, with the World of Warcraft, Hearthstone, Warcraft, Watching Pioneer, Diablo and StarCraft, and other games under Blizzard, they began to return to the Chinese mainland market one after another this summer. Netease can not only gather the hearts of a wave of old players, but also continue to rely on these classic games to increase their profitability, and can look forward to transforming these online games IP into mobile games IP later (Netease and Blizzard jointly produced the mobile game Diablo: Immortality before the "breakup", and the game performed well).

Blizzard game family barrels will return one after another.

In this way, after the second cooperation, Blizzard may make a small profit, but Netease will definitely not lose money. According to the latest report released by JPMorgan Chase, the re-cooperation between Netease and Blizzard is expected to bring 3% to 4% of the online game revenue of Netease.

What’s more, Microsoft also reached an agreement with Netease to try to bring new Netease games to Xbox and other platforms.

In this regard, Zhang Yi, CEO and chief analyst of Ai Media Consulting, said in an interview with Securities Daily that Netease also needs to increase its overseas revenue share. Microsoft promotes Netease games to log on to Xbox, which can give overseas players more opportunities to understand Netease’s game products. It is very important to enhance Netease’s brand influence and market share in overseas markets, and it is also an easy shortcut for Netease.

Generally speaking, the re-cooperation between Netease and Blizzard is not only the best choice made by them from their own personal perspectives, but also a win-win "commercial marriage".

END

Menghuiyuan

Email: coopert@163.com.

Introduction: You can talk about poetry and distance, and you can also talk about tea and streamer.

Focus areas: streaming media, Internet medical care.

Zinc scale

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A few days ago, Jiang Ge learned from the official that the pre-sale was officially opened. The pre-sale price started at 169,800 yuan, and the new car will be officially listed on September 23. Shangjie H5 is a combination of Huawei’s leading intelligent technology and SAIC’s profound car-making heritage. Its appearance is simple and atmospheric, its space is spacious and practical, its battery life meets the needs of the whole scene, and it is equipped with HUAWEI ADS 4 auxiliary driving system. According to the latest official data, Shangjie H5 opened a one-hour pre-sale order and exceeded 25,000 units.

In terms of appearance, the new car adopts the closed front face of new energy vehicles, and the latest brand logo is hung in the center of the front face. The roof is equipped with a laser radar, and the new car is also equipped with a luminous logo and a smart blue light. The overall appearance is full of technology.

From the side of the car body, the overall lines of the new car are relatively smooth, and the traditional door handle is adopted instead of the popular hidden door handle design. In terms of body size, the length, width and height of the new car are 4780/1910/1657 (1664) mm.

When we arrive at the rear of the car, we can see that the design of the rear of the new car also adopts simple design techniques. At present, the popular through-type taillight group, and the central part of the taillight is also equipped with the Shangjie brand logo.

In terms of interior, the new car adopts the popular minimalist design style, creating a fashionable and warm interior atmosphere. In terms of specific configuration, the front row of the new car is equipped with a liquid crystal instrument and a large-size floating central control panel. In addition, it is equipped with three flat-bottomed steering wheels, a wireless charging panel for mobile phones and a panoramic canopy.

The rear space looks extremely spacious and the seats look very comfortable. In addition, we also see that the rear row of the new car is not only equipped with a central armrest, but also provides an entertainment screen.

?

In terms of power, the new car offers two options: pure electricity and extended range. The pure electric version is equipped with a battery pack with a capacity of 80kWh. The CLTC has a pure battery life of 655 kilometers and a comprehensive power consumption of 13.4kWh per 100 kilometers. The extended-range version has a pure battery life of 235 kilometers, a comprehensive battery life of 1360 kilometers and a comprehensive fuel consumption of 4.44L per 100 kilometers.

　　BEIJING, Beijing, September 14 (Reporter Zhang Ni) In recent years, with the promotion of burden reduction in primary and secondary schools, the school hours of primary schools in many areas have advanced to around 3: 30. However, children leave school early and parents leave work late, which makes many parents feel embarrassed — — It is unrealistic to ask for leave, and there are many concerns about the custodian. How should we solve the "3: 30 problem"?

　　Parents are worried about picking up their baby after school at 3: 30.

　　"When I get to school, I have a headache. My wife and I both go to work. The off-duty time is five or six o’clock, but children usually leave school at three or four o’clock, and picking up children has become a problem." Mr. Wang, a citizen who lives in Haidian District, Beijing, said that every time he started school, he began to worry about picking up the baby.

　　Mr. Wang’s son is in the fourth grade. Before that, Mr. Wang’s mother helped to pick him up, but in the past two years, because his mother was in poor health, he had to pick him up with his wife.

　　"Now the school has after-school activities three days a week, and the school time is relatively late. I will rotate with my wife for the remaining two days. Whoever is not busy will pick up the children in advance." Mr. Wang said that because the school is close to home, he and his wife planned to let the children go to school by themselves after they entered the fifth and sixth grades, but he was still a little worried.

　　Mr. Wang’s experience is also a portrayal of the real life of many young parents. In order to solve the problem, many elderly people took the initiative to take over the heavy responsibility of receiving the baby. Ms. Shen, 66, is one of them.

　　Ms. Shen lives in Haidian District. Her grandson is in the first grade of primary school this year. Because both her son and daughter-in-law have to work, the job of picking up and dropping off the children is given to her.

　　"I have to go back and forth between home and school several times a day, and I have to walk on the road for nearly an hour a day." Ms. Shen said that because she is in good health, she can accept it, but I am afraid that the elderly who are in poor health will be a little overwhelmed.

　　"Last year, my son asked for a second child, and I hired a nanny to take the second child at home. I can still be busy when I send the boss. When the second child starts to go to kindergarten, I have to pick up two. Without a nanny, I will definitely be too busy." Ms. Shen said.

　　Market demand gives birth to trusteeship fever

　　The problem of parents picking up their children has also left business opportunities for off-campus hosting institutions, and the fees of such institutions are expensive.

　　A few days ago, the reporter consulted a primary school care institution in Zhongguancun, Beijing, and learned that the cost of hosting a primary school student in this institution is 1,480 yuan per month, while the student’s meal fee is calculated separately, which is the charging standard for each meal in 20 yuan. In this way, if a primary school student has dinner once a day in a custody institution, the monthly expenses add up to nearly 2,000 yuan, which is not a small expense for many parents.

　　Even so, because of the large demand, the number of custody places of custody institutions is also very popular.

　　"The number of students we can accept is limited, so we usually start to register in mid-August, and there will be very few places left when the school starts." A staff member of the agency told reporters.

　　For such a custodian, parents also have their own concerns.

　　"One depends on whether the price charge is acceptable. In addition, if we really want to send our children to such a custody institution, we must also check the qualifications, safety facilities, the level of teachers, the quality of food, etc. We are all concerned." Mr. Wang expressed his concern.

　　The teacher vomited: it is very tiring to organize after-school activities.

　　In the first half of this year, the Ministry of Education issued the Guiding Opinions on Doing a Good Job in After-school Services for Primary and Secondary School Students. Among them, it is clear that we should give full play to the role of the main channel of after-school service in primary and secondary schools. The majority of primary and secondary schools should make full use of their advantages in management, personnel, venues and resources, and take the initiative to assume the responsibility of students’ after-school service.

　　The reporter learned that after-school expansion activities have been carried out in primary schools in many areas, including Beijing. However, in the process of school implementation, there are also many practical problems.

　　Lin Lin (pseudonym), who works as an English teacher in a primary school in Chaoyang District, Beijing, said in an interview that her primary school will hold community activities three days a week, but because of the limited resources of teachers in the school, some interest activities need to be outsourced to hire teachers.

　　"Schools should also increase their funding, not only paying the class fees of external teachers, but also paying some remuneration to the class teachers." Lin Lin said.

　　"Community activities usually disrupt classes, and it is difficult for teachers to manage classroom discipline. Therefore, each class should be equipped with a class supervisor. Once the class is over, children like to have classes in disorder, so the class supervisor must always be nervous to prevent danger." Lin Lin told reporters that he will arrive at school at seven o’clock every day, and his usual workload is already very heavy. Coupled with the arrangement of extracurricular activities, he is very tired at the end of the day.

　　After school at 3: 30, did the students reduce their burden?

　　On the one hand, the school leaves school early, on the other hand, the students’ schoolwork burden has not really been alleviated. Many primary school students hurried to the off-campus cram school after leaving the school gate. Xiaoding, who is in the sixth grade this year, is one of them.

　　"I don’t have cram schools now except Monday and Sunday, and I have extracurricular classes the rest of the time." Xiaoding told reporters.

　　Xiaoding’s school is a key primary school in Beijing. It will finish school before three o’clock every Tuesday and Friday, but he still has cram schools to attend. Usually, Xiaoding goes to cram school by bike every time he comes home from school to pack his things, and many students in the class have similar situations.

　　"We are under great pressure as parents. Some of our children’s classmates were recruited by key middle schools in the fourth and fifth grades. If they can’t be recruited, they can only participate in computer allocation, which is quite anxious." Mr. Zhu, who lives in Haidian District, expressed emotion in an interview.

　　Mr. Zhu also has a daughter who has just entered the sixth grade. Because he is worried that his child will be sent to a bad middle school, he began to take his child to take some key middle school exams very early.

　　"In fact, children have very little homework in school and can finish it soon, but we also reported three or four extracurricular classes to our children, so it is not easy." Mr. Zhu said that as long as the child’s junior high school is not solved one day, his heart will always be hanging.

　　How to solve the problem?

　　On the one hand, the state advocates reducing the burden and letting students leave school early. On the other hand, schools and parents are faced with various implementation problems. How to solve the contradictions?

　　In fact, in recent years, many local governments have introduced relevant policies to solve the problem.

　　For example, Beijing, Chengdu and other places have established a financial guarantee mechanism. Public primary schools in Shanghai generally provide free after-school care services to students who have difficulties in family care. Qingdao and other places "take the school family Committee as the leading factor and the school participates in cooperation" and rely on the school’s premises and equipment to carry out after-school service.

　　"Solve ‘ 3: 30 problem ’ It is still necessary to let the school play an active role and carry out more extracurricular activities, but this requires a policy tilt, focusing on giving teachers subsidies and improving teachers’ enthusiasm. " Gu Mingyuan, honorary president of China Education Association, stressed in an interview with Zhongxin. com.

　　Gu Mingyuan analyzed that while the government gives financial support to schools, it should also give them autonomy in running schools. "Education should also be shared, so that schools can fully tap and utilize all social resources, even including inviting parents with special skills to participate in after-school activities. Children should not be pushed to training institutions because of school."

　　Chu Zhaohui, a researcher at the China Academy of Educational Sciences, believes that students should also be given some time for independent activities, rather than just "going to school — — Going home is a two-point and one-line life, and the part that is in contact with society is missing.

　　"In the process of children’s growth, it is not only the school that has an educational role, but also the society. Education should return to a normal state, so that children can participate in social activities independently and find their own interests." Chu Zhaohui said.

　　In addition, Chu Zhaohui emphasized that if the disguised junior high school entrance examination still exists, then the children are still tied to the examination and academic performance, so it is difficult to really reduce the burden. (End)

　　BEIJING, July 30 (Xinhua)-Recently, the website of the State Railway Administration released an announcement on the investigation and handling of the K596 passenger train collision with the operator on the "6.4" Lanzhou-Xinjiang line, which pointed out the suggestions for handling the units and personnel responsible for the accident: 21 people were given disciplinary sanctions, and the judicial organs have taken compulsory measures against 3 people.

　　The details are announced as follows:

　　I. Basic information of the accident

　　1. Overview of the accident

　　At 5: 18 on June 4th, 2021, Jinchang Workshop of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. carried out line mechanical maintenance work on the down line between Yushi and Jinchang Station of Lanzhou-Xinjiang Railway. Due to the temporary failure of tamping the stabilizing car, when the person in charge of the operation organized the workers to transfer to cross the railway line, the cross-line personnel collided with K596 passenger train, resulting in 9 deaths.

　　2. Overview of the accident unit

　　China Railway Lanzhou Bureau Group Co., Ltd. has 16 trunk lines including Baolan High-speed Railway, Lanxin Passenger Dedicated Line, Yinxi High-speed Railway, Longhai High-speed Railway and Lanxin High-speed Railway, and 4 other branch lines, with a business mileage of 6,052 kilometers and 41 transport stations. Wuwei Works Section is its subordinate transportation station, and the line in the accident zone is maintained by Jinchang Line Workshop, a workshop under Wuwei Works Section.

　　3. The accident happened

　　According to the maintenance plan, there are two tamping stabilization vehicles working together in this maintenance operation, and the mechanical maintenance operation is carried out from east to west from K361+850 and K364+500 respectively.

　　At 2: 54 on June 4th, Zhang, deputy director of Jinchang Line Workshop in Wuwei Works Section, as the operation leader, organized the workshop participants to hold a preparatory meeting for maintenance operation, and deployed the maintenance operation organization plan and division of labor. A total of 5 employees and 18 laborers from Wuwei Works Section participated in the mechanical maintenance operation at K361+850, and Zhou was appointed as the shift leader. Because the operation area is in the curve and poor communication area, the protector responsible for the protection of the operators is adjusted to the middle protector, and the protector responsible for the emergency group is adjusted to the protector responsible for the protection of the operators.

　　At 4: 20 on June 4, according to the registration request of the station liaison officer of Wuwei Works Section, station attendant of Jade Station applied to the train dispatcher, who issued a dispatching order, blocked the downlink between Jinchang Station and Jade Station from the time of receiving the order, and allowed Wuwei Works Section to carry out line mechanical maintenance at K360+000 to K368+000, and the maintenance was completed at 7: 22.

　　At 4: 38 on June 4th, Zhang, the person in charge of the operation, led the workers to enter the protective net from the operation door on the side of K361+900 uplink, crossed the uplink and downlink, and walked along the shoulder to the K361+850 operation site.

　　At 4: 48 on June 4th, the tamping stabilizing car was moved from Jade Station to K361+850 according to the operation plan.

　　At 5: 04 on June 4, the tamping stabilized vehicle failed to continue its operation due to the oil leakage of the accumulator.

　　At 05: 09 on June 4th, the resident liaison officer informed the on-site guard that the passenger train K596 was predicted to pass the Jade Station at 05: 10.

　　At 5: 15 on June 4th, Wang, the site protector of tamping stabilizing vehicle, confirmed that he had received the approaching information of passenger train K596 twice.

　　At 5: 16 on June 4th, it was confirmed that the fault of the tamping stabilization vehicle could not be repaired and the operation could not be continued. The person in charge of the operation, Zhang, issued an instruction for the operators to transfer to the operation site K364+500, arranged for the shift leader, Zhou, to lead 15 operators to cross the uplink and downlink lines, and went out of the protective net from the operation gate K361+900 to take a bus to K364+500 to participate in the operation. Wang, the protector who originally followed the tamping stabilization vehicle for mobile protection, was appointed to be responsible for the transfer and crossover After that, the protector Wang and the shift leader Zhou led 15 workers to the shoulder of the road at the 5-meter position (K361+820) on the east side of the faulty tamping stabilization vehicle. During the preparation for crossing the line, the person in charge of the operation, Zhang, urged the crossing line three times.

　　At 5: 18 on June 4, Wang, who was in charge of the protection of the operators, was still jointly controlling the position of the K596 passenger train with the middle protector. In the case that the middle protector did not answer, he did not issue an order prohibiting crossing the line and did not stop the personnel from crossing the line. Zhou, the shift leader, blindly organized the cross-line personnel to cross the line without confirming whether the train passed. Because the lookout line was blocked by the faulty tamping and stabilizing vehicle, the crossing personnel did not see the approaching K596 passenger train before crossing the line. During crossing the uplink, they collided with the passing K596 passenger train, and nine workers died on the spot. Three workers have crossed the uplink, and the other three workers were blocked by the shift leader Zhou.

　　Second, the emergency response

　　After the accident, the co-driver of K596 passenger train, the vehicle attendant and the police immediately got off the train to check the scene of the accident. The driver immediately reported to Jinchang Station and called 120 and 110 for rescue and alarm. After receiving the report, the station immediately organized the police officers of Jinchang station police station and other relevant personnel to rush to the scene of the accident to carry out rescue work for the collision personnel. Confirmed by 120 medical staff, 9 people were killed and others were not injured. After on-site disposal, K596 passenger train started at 6: 43.

　　After receiving the accident report, China Railway Lanzhou Bureau Group Co., Ltd., the main person in charge led the relevant personnel to the scene of the accident for emergency and after-treatment work.

　　After receiving the accident report, China National Railway Group Co., Ltd. immediately rushed to the emergency command center to direct emergency rescue, and assigned a deputy general manager to lead a team to rush to the scene of the accident to guide Lanzhou Bureau Group Co., Ltd. to carry out emergency rescue, after-care treatment, safety and stability, and cooperate with accident investigation.

　　The main person in charge of Lanzhou Railway Public Security Bureau rushed to the scene of the accident, organized and dispatched 120 police officers, set up 8 working groups, and devoted themselves to on-site maintenance, exploration and after-treatment work.

　　After receiving the accident report, Lanzhou Railway Supervision and Administration Bureau immediately launched the emergency plan, and the main person in charge led the relevant personnel to the scene of the accident to guide the accident rescue, and set up an accident investigation team to carry out the accident investigation.

　　The Gansu Provincial Party Committee and the provincial government attached great importance to it, and assigned provincial government leaders to rush to the scene to guide Jinchang Municipal Party Committee and Wuwei Municipal Party Committee and Municipal Government to fully cooperate with the railway department to carry out the aftermath and family comfort and condolences.

　　The emergency management department sent personnel to the scene of the accident to guide the emergency treatment and accident investigation.

　　Iii. Casualties caused by the accident

　　Nine workers were killed and no one was injured in the accident.

　　Four, the cause and nature of the accident, responsibility identification

　　1. The direct cause of the accident

　　During the maintenance operation, the tamping stabilizing car broke down, and the direct causes of the accident were blind command, incomplete joint control, field protection failure and illegal crossing of the line during the transition and crossing of the line.

　　(1) The foremen violate Article 54 of the Law of People’s Republic of China (PRC) on Work Safety, Article 5 of the Regulations on Railway Safety Management and Article 3.2.2 of the Rules for the Safety Management of Railway Works (TZY [2014] No.272) "When crossing a bridge, crossing or crossing a line, they should ‘ Hand-to-hand, eye-to-eye, mouth-to-mouth ’ , do ‘ One stop, two looks, three passes ’ , it is forbidden to cross the line ",Article 6 of Labor Safety Card Control Measures for General Speed Railway of Public Works Department of Lanzhou Bureau Group Company (Gong ‘an Letter [2020] No.66):" It is forbidden to cross the line blindly without confirming the arrival of cars on this line or adjacent lines ",and Article 68:" Before the operators get on the road and cross the line, they should choose a place with good lookout conditions to cross the line ".When leading the operators to cross the line, there are no regulations.

　　(2) On-site guards violated Article 54 of the Law of People’s Republic of China (PRC) on Work Safety, Article 5 of the Regulations on Railway Safety Management and Article 24 of the Labor Safety Card Control Measures for General-speed Railways in the Public Works Department of Lanzhou Bureau Group Corporation (Gong ‘an Letter [2020] No.66): "The guards should concentrate on their work, look carefully, correctly display and use signal spare parts, and accurately grasp the train operation. Timely and clearly inform all the operation leaders and foremen of the advance notice of each train heading for the operation site, supervise the operators (machines and tools) to get off the train in time when starting, and so on. When knowing that the K596 train is approaching and the joint control has not been answered and confirmed to be safe, it has not issued an instruction to prohibit crossing the line and has not prevented the crossing personnel from crossing the line.

　　(3) The person in charge of the operation violates Article 54 of the Law of People’s Republic of China (PRC) on Safety in Production, Article 5 of the Regulations on Railway Safety Management and Article 19 of the Measures for the Safety Management of Railway Business Lines (Tieyun [2012] No.280): "The main duties of the person in charge of the construction are: to be responsible for organizing and directing the construction site, directing the on-site construction, arranging construction protection and confirming the conditions for releasing the train; Responsible for summarizing and analyzing the construction organization, progress and safety, and being responsible for the safety of the construction site ",etc., did not arrange safety precautions for crossing the line, did not comply with the on-site protection regulations, and blindly urged the transition personnel to cross the line.

　　2. Identification of the nature and responsibility of the accident

　　According to Article 11 of the Regulations on Emergency Rescue and Investigation and Handling of Railway Traffic Accidents (Order No.501 of the State Council) and Articles 10 and 49 of the Rules on Investigation and Handling of Railway Traffic Accidents (Order No.30 of the Ministry of Railways), this accident is a serious accident of railway traffic, and China Railway Lanzhou Bureau Group Co., Ltd. takes full responsibility.

　　V. Suggestions on handling the units and personnel responsible for the accident

　　1. Persons whose judicial organs have taken compulsory measures (3 persons)

　　Three people, including Zhou, the operator, Wang, the site protector, and Zhang, the person in charge of the operation, have been arrested according to law.

　　2. Give disciplinary action personnel (21 people)

　　(1) The secretary of the Party Committee and the chairman of China Railway Lanzhou Bureau Group Co., Ltd. were given administrative demerits.

　　(2) The deputy secretary of the Party Committee and the general manager of China Railway Lanzhou Bureau Group Co., Ltd. were given administrative demerits.

　　(3) The deputy general manager in charge of public works of China Railway Lanzhou Bureau Group Co., Ltd. was severely warned by the party.

　　(4) The deputy director in charge of overall work of the Public Works Department of China Railway Lanzhou Bureau Group Co., Ltd. was ordered to resign, and the administrative record was severely punished.

　　(5) The director of China Railway Lanzhou Bureau Group Co., Ltd., who is in charge of this maintenance operation, was removed from office and the administrative record was severely punished.

　　(6) The chief of the Safety and Quality Section of the Ministry of Works of China Railway Lanzhou Bureau Group Co., Ltd. was dismissed and the administrative record was greater than the punishment.

　　(7) The deputy chief of the Safety and Quality Section of the Ministry of Works of China Railway Lanzhou Bureau Group Co., Ltd., who is in charge of labor safety and protection, was dismissed and the administrative record was given greater punishment.

　　(8) The chief of the line section of the Ministry of Works of China Railway Lanzhou Bureau Group Co., Ltd. was dismissed, the probation period was terminated, and the administrative record was severely punished.

　　(9) The deputy secretary and section chief of the Party Committee of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. were removed from office, and the administrative record was severely punished.

　　(10) The party secretary and deputy section chief of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. were removed from office, and the administrative record was severely punished.

　　(11) The deputy section chief in charge of line maintenance in Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. terminated the probation period and was severely warned by the party.

　　(12) The administrative record of the deputy section chief in charge of labor safety and protection in Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was severely punished.

　　(13) The chief of the security section of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was dismissed from his post.

　　(14) The administrative record of the assistant engineer in charge of the safety section of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was severely punished.

　　(15) The head of the line section of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was dismissed.

　　(16) The administrative record of the deputy section chief of the line section of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was severely punished.

　　(17) The line section of Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. is responsible for the administrative demerit of the line maintenance engineer.

　　(18) The director of Jinchang Line Workshop in Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was dismissed.

　　(19) The General Party Branch Secretary of Jinchang Line Workshop in Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was dismissed.

　　(20) The deputy director in charge of Jinchang Line Workshop in Wuwei Works Section of China Railway Lanzhou Bureau Group Co., Ltd. was dismissed.

　　(21) The deputy section chief in charge of equipment of Lanzhou Works Machinery Section of China Railway Lanzhou Bureau Group Co., Ltd. was given an administrative demerit.

　　3. Suggestions on the handling of the unit

　　Instructed China Railway Lanzhou Bureau Group Co., Ltd. to make an in-depth inspection to China National Railway Group Co., Ltd.

　　Six, the problems exposed by the accident

　　1. The field operation standards are not implemented in place.The basic operation system of Wuwei Works Section is not implemented. First, the on-site protection personnel and foremen have a weak sense of safety, fail to implement the operating standards thoroughly, and fail to perform their duties as required. Second, the person in charge of the operation did not direct the operation according to the existing plan, and illegally changed the plan temporarily and changed the protection and shift personnel. Third, the abnormal emergency response was not in place. When the tamping stabilizing vehicle broke down and organized the transition and cross-line operation, the emergency response plan and safety precautions were not formulated.

　　2. On-site operation safety risk control is not in place.Wuwei Works Section did not carry out safety risk prediction in combination with the actual situation of the job site. First, no targeted measures have been formulated for the need to cross the uplink without working doors in the downlink. Second, the card control measures are not formulated in combination with the problem that the construction site is in a continuous curve section and the line of sight of safety protection is limited. Third, there are loopholes in the construction protection scheme, the joint control link is too complicated, the information transmission is lengthy, the intercom channel is busy, there are key traffic information missing, and the transmission chain is unstable.

　　3. Maintenance operation management is not in place.The relevant departments of China Railway Lanzhou Bureau Group Co., Ltd. and Wuwei Works Section failed to implement the maintenance operation standards of the business line organized by the workshop, and the on-site control was not in place, and the business guidance, supervision and inspection were not in place. Wuwei Works Section failed to organize safety education and training for laborers involved in the operation as required.

　　Seven, accident prevention and rectification measures.

　　In order to draw a profound lesson from the accident, draw inferences from others, effectively prevent and resolutely curb similar accidents, the following rectification measures and suggestions are put forward for China Railway Lanzhou Bureau Group Co., Ltd.:

　　1. Firmly establish the safety concept of safety first and life first.

　　We must conscientiously implement the spirit of the important exposition and instructions of the Supreme Leader General Secretary on safety production, adhere to the people first and life first, adhere to the red line consciousness and bottom line thinking, firmly establish the concept of safe development, effectively improve the political position, deeply understand the grim situation facing the current railway safety work, implement the main responsibility of safety production, strengthen risk judgment and hidden danger investigation and management, quickly reverse the passive situation of safety production, and resolutely curb the occurrence of similar accidents.

　　2. Deeply draw lessons from the accident and immediately carry out special rectification of business line construction.

　　It is necessary to draw a profound lesson from the accident, immediately organize the special rectification of the construction safety of business lines, benchmark the regulations in the whole process from the aspects of construction organization and leadership, construction scheme review, construction plan preparation and approval, safety agreement signing, personnel training, etc., comprehensively investigate the problems such as non-implementation of on-site operation standards, irregular organization, non-implementation of protective measures, illegal entry and exit during operation, strengthen the on-site supervision and control of cadres, give play to the role of scientific and technological means such as remote monitoring, increase supervision and assessment, and compact safety responsibilities.

　　3. Strengthen the construction safety infrastructure and improve the construction safety prevention ability.

　　In view of the problems exposed by the accident, scientifically analyze and judge the weak links in railway safety management, and make up for the shortcomings of on-site safety management by strengthening the means of "civil air defense, physical defense and technical defense" to improve the ability of on-site safety management and control. It is necessary to strictly carry out training for construction workers and management personnel in business lines in different levels and grades, strengthen the management and training of labor and employment, establish and improve the responsibility system of "self-control, mutual control and other control" for operation safety, and strengthen the safety monitoring and control of construction operations in key time periods, key lots and key links to ensure traffic, personal and construction safety.

　　4. Strengthen the daily management of business line construction and improve the rules and regulations.

　　It is necessary to improve the construction safety management system of business lines, implement the professional management responsibility of business line construction, improve the construction safety risk prevention and pre-judgment mechanism and abnormal emergency response mechanism, analyze and judge potential risks according to different construction characteristics, formulate emergency response plans, improve emergency response and risk prevention capabilities, and ensure safety.

　　[New Ideas and Practice of Governing the Country]

　　Since the 18th National Congress of the Communist Party of China, remarkable achievements have been made in strictly administering the Party in an all-round way, but the building of a clean and honest party style and the struggle against corruption still have a long way to go. In his speech at the Seventh Plenary Session of the 18th Central Commission for Discipline Inspection, the Supreme Leader pointed out that to further promote the comprehensive and strict administration of the Party, we must treat both the symptoms and the root causes. The key to cure the problem is to innovate institutional mechanisms, improve laws and regulations, strengthen inner-party supervision, establish and improve institutionalized and legal governance mechanisms, comprehensively promote the rule of law, and strictly manage the party and power according to law.

　　The essence of strictly administering the party is to strictly govern power and rule power according to law.

　　The Communist Party of China (CPC) is the ruling party. To ensure our party’s long-term governance, we must adhere to the principle of strictly administering the party and governing power according to law. The key to strictly administering the Party lies in strictness and governance, which requires strengthening the awareness of the rule of law and rules, standardizing the operation of power according to law, and strengthening the supervision of power. The Sixth Plenary Session of the Eighteenth Central Committee of the Communist Party of China pointed out that it is necessary to improve the restriction and supervision mechanism of power operation, and form an institutional arrangement in which the right must be responsible, the use of power must be responsible, and the abuse of power must be held accountable. This is actually the concrete embodiment of the thought and important concept of the supreme leader comrade about putting power into the system cage. Montesquieu once pointed out that "all people with power are prone to abuse their power, which is an eternal experience". If the dam of laws and party rules is broken, the abuse of power will be like a flood. Strictly administering the party in an all-round way and strengthening power supervision means institutionalizing and legalizing supervision. Specifically, we should do the following two things.

　　Power should be bound by the Constitution and laws. Article 5 of the Constitution stipulates: "All state organs and armed forces, political parties, social organizations, enterprises and institutions must abide by the Constitution and laws. All violations of the Constitution and laws must be investigated. No organization or individual may have privileges beyond the Constitution and laws. " Constitution of the Communist Party of China also emphasized in the general program: "The Party must act within the scope of the Constitution and laws." Our party is the ruling party. Whether we can adhere to the rule of law, correctly lead legislation, take the lead in abiding by the law and ensure law enforcement is of great significance to comprehensively promote the rule of law. Therefore, governing according to law is the key to governing the country according to law. The implementation of ruling by law first requires the party to govern the country according to the constitution and laws. Adhering to the rule of law means that the supervision of power must be ruled by law and form a long-term mechanism of supervision, which will not change with the passage of time and personnel changes.

　　Power should be bound by the laws and regulations of the party. In order to manage a big party with more than 88 million party member, the traditional management method has many unsuitable places. In the new historical period, the internal and external environment faced by the Party is becoming more and more complicated, and the task of self-construction is becoming more and more serious. These changes have put forward higher requirements for the Communist Party of China (CPC)’s leadership style and ruling style, and objectively it is necessary to govern the Party according to the internal laws and regulations of the Party. State-owned laws, the party has party rules, and governing the country according to law requires the party to govern the country according to the Constitution and laws, and also requires the party to govern the party according to the internal laws and regulations of the party. Comrade Supreme Leader pointed out that it is necessary to "respect party constitution and strictly implement norms and regulations". Inner-party laws and regulations require the behavior standards of all party member and Party organizations, while laws require the behavior standards of all social members, and the behavior standards required by inner-party laws and regulations are stricter than laws. The Communist Party of China (CPC)’s Code of Integrity and Self-discipline and the Communist Party of China (CPC)’s Regulations on Disciplinary Actions, which came into effect in January 2016, have clearly defined party member’s high standards and the discipline of managing the Party. The Constitution and laws are the basis for ensuring the Party to be in power according to law, while the internal laws and regulations of the Party are the rule basis for managing and administering the Party. Only by organically combining laws and party rules can we provide institutional guarantee for the comprehensive and strict administration of the party and lay a solid foundation for comprehensively promoting the rule of law.

　　The core of strictly administering the party and governing power according to law is to safeguard the central authority according to law and ensure the smooth flow of central government decrees.

　　The leadership of the Party is the most essential feature of Socialism with Chinese characteristics and the greatest advantage of the Socialism with Chinese characteristics system. To strictly manage the party and power according to law, we must adhere to, improve and implement democratic centralism, and organically combine centralism on the basis of democracy with democracy under centralized guidance. To establish a normal order of inner-party life and ensure the unity of will and actions of the whole party, we must adhere to the fundamental principles that individuals obey the party organization, the minority obeys the majority, the lower organizations obey the higher organizations, and the whole party obeys the central government. The basis of this fundamental principle is that the minority obeys the majority, and the core is that the whole party obeys the Central Committee.

　　To uphold the party’s leadership, we must safeguard the authority of the central government, ensure the centralization and unity of the party, ensure the smooth implementation of the party’s central government decrees and orders, and prevent and overcome acts that are unorganized and undisciplined, have orders that are impossible, have prohibitions, and go their own way. We must resolutely put an end to the phenomenon that there are policies at the top and countermeasures at the bottom. We can’t "you have your closing plan and I have my jumping over the wall". If the party wants to be in power according to law, it must ensure that the central government decrees are smooth and the decision-making takes root by legal means. This is to be good at making the party’s ideas become the will of the state through legal procedures, formulating laws and regulations, and ensuring their strict implementation. In our country, the constitution is the concentrated expression of the will of the party and the people, and it is the fundamental law formed through scientific and democratic procedures. The party leads the people and formulates laws and regulations through legal procedures in accordance with the Constitution, which is to implement democratic centralism, safeguard the authority of the central government and ensure the smooth implementation of government decrees. Because in a society ruled by law, the law is supreme, the law has the highest status, and the rule of law includes equality before the law, and its rules have universal applicability. Compared with the rule of man, it is more certain and predictable. The ancient legalists in China compared the law to the size, rope ink, rules, balance stones, bucket hoops, angular measurement, etc., which was intended to emphasize the unity, fairness and universal applicability of the law. Therefore, to ensure the smooth flow of central government decrees, we should establish and improve the guarantee mechanism of rule of law. At present, in order to maintain the authority of the central government and keep the government decrees unblocked, we must improve the construction of relevant systems with the rule of law, and establish a linkage system between the deployment and implementation of policies at the higher and lower levels.Ensure that the lower-level policy suggestions can be fed back to the higher level in time, and enable the higher-level policy deployment to be effectively communicated to the lower level. At the same time, it is necessary to establish an assessment and inspection system for policy implementation, and evaluate and inspect the policy communication in all links. Organizations and individuals that hinder policy communication should be held accountable according to law.

　　The key to strictly administering the party and governing power according to law is the leading cadres in party member.

　　Our party is the ruling party, and some leading cadres not only hold positions within the party, but also take charge of public power. In order to ensure their exercise of power according to law, public power must be restrained by law, which is also the proper content of regulating public power with the rule of law. The key point of strictly administering the party and governing the power according to law is "the key minority", which requires leading cadres in party member to firmly establish the awareness of the rule of law, cultivate the ideas and habits of advocating, respecting and acting in strict accordance with the law, always have awe of the law, bear in mind that the legal red line cannot be crossed and the legal bottom line cannot be touched, strictly exercise their functions and powers within the scope of the Constitution and laws, and no one can enjoy privileges other than those stipulated by the Constitution and laws. Must adhere to the administration according to law, the law does not authorize, and the statutory authority must be. Leading cadres in party member should take the lead in abiding by the law, set an example in obeying the law, and play an exemplary role in the whole society. Strictly administering the party and governing power according to law also needs to solve the problem of supervision by the top leaders. The top leaders in leading bodies at all levels are the "key minority". The more important the responsibilities and positions of leading cadres are, the more important it is to strengthen supervision. China’s revised Administrative Procedure Law stipulates that "the person in charge of the accused administrative organ should appear in court to respond to the lawsuit", which strengthens the supervision of the chief executive from the legal point of view. In order to ensure the leading cadres in party member to exercise their functions and powers according to law, we must also improve the accountability mechanism, and insist that the responsibility must be asked and the accountability must be strict.Without clear responsibility, implementation and accountability, it will be difficult to truly manage the party strictly.

　　At present, China is in the stage of social transformation, with profound changes in economic system, social structure, interest pattern, ideas and concepts, and various social contradictions constantly emerging. The basic function of law is to settle disputes and stop disputes, and the law will program the schemes and ways to solve various disputes, providing the most stable and effective solutions for the settlement of social contradictions and disputes. Resolving social contradictions and disputes through law can avoid arbitrariness and differences in dispute resolution and ensure fairness. In practice, some leading cadres are indifferent to the law and lack the consciousness of exercising their functions and powers according to law, which is not only not conducive to resolving contradictions, but may lead to further intensification of contradictions. In this context, it is more important for leading cadres in party member to establish the rule of law thinking and be good at using the rule of law.

　　Strictly administering the party and governing power according to law must guarantee party member’s democratic supervision rights according to law and regulations.

　　Strengthening inner-party supervision focuses on daily life and perseverance. Strengthening party member’s democratic supervision right is an important measure to effectively prevent decision-making mistakes and abuse of power. In reality, some party member cadres, bending the law, constantly touch the legal bottom line, the most fundamental reason is the lack of supervision. Therefore, it is necessary to unblock the channels for party member to participate in the discussion of inner-party affairs, broaden the channels for party member to express his opinions, and create a political atmosphere for democratic discussion within the party. Comrade Supreme Leader pointed out that some party organizations and party member lacked the courage to use the weapon of criticism and self-criticism, which ultimately hurt the party’s cause. Making good use of criticism and self-criticism to safeguard party member’s democratic supervision right is an important way to improve inner-party supervision.

　　To strengthen inner-party supervision, we must establish and improve the effective mechanism of inner-party democratic supervision, and effectively protect the rights of democratic supervision in party member according to law. According to the provisions of the Constitution of the Communist Party of China, every party member enjoys the right to criticize, report and demand recall. In recent years, our party has attached great importance to the construction of the inner-party supervision system and established a series of specific democratic systems, such as the democratic life meeting system, the democratic appraisal of party member system, the inner-party reporting and accusation system, and the rights protection system in party member. The two inner-party laws and regulations that came into effect in January this year are both the guarantee and the basis for institutionalizing democratic supervision. On the one hand, supervision must be carried out in accordance with laws and regulations, which requires the full protection of party member’s democratic supervision rights through party rules, so as to realize the institutionalization and legalization of democratic supervision in party member. At the same time, practical measures should be taken to ensure that party member’s democratic rights, such as democratic participation, democratic election, democratic decision-making and democratic supervision, stipulated by party constitution, are fully exercised. On the other hand, in order to further play the role of democratic supervision in party member, it is necessary to institutionalize supervision and establish comprehensive, systematic and operable procedures and rules. We should constantly broaden and improve the channels of inner-party democracy, so as to realize party member’s extensive participation, effective management and effective supervision of inner-party affairs. In addition, we should broaden the channels of reporting, exposing, appealing, accusing and petitioning in party member, formulate a specific and strict system with strong operability, and expand the scope of party member’s participation in the management and supervision of cadres.

　　The key to strictly administering the party and governing power according to law is to punish corruption according to law and ensure equality before the law.

　　Strictly administering the party in an all-round way and punishing corruption must be firmly grasped. Comrade Supreme Leader pointed out that anti-corruption should be carried out with no forbidden zone, full coverage and zero tolerance, and efforts should be made to curb the spread of corruption and punish unhealthy practices and corruption around the masses. To punish corruption, we must insist on investigating every case and correcting every mistake. Since the 18th National Congress of the Communist Party of China (CPC), the anti-corruption campaign has been "fighting tigers" and "swatting flies" simultaneously, severely punishing corruption, promoting the implementation of responsibilities with serious accountability, showing a new atmosphere in the political life within the Party, winning the hearts and minds of the Party and providing an important guarantee for creating a new situation in the cause of the Party and the country. Judging from the anti-corruption cases that have been disclosed, it has truly achieved "no forbidden zone against corruption" and "zero tolerance" for corruption. This shows that there is no special citizen in our country, and there is no special party member in our party, which truly implements equality before the law and party rules. However, it must be noted that the anti-corruption situation is still grim, and we must always maintain a high-pressure situation against corruption. We must prevent corruption fundamentally by strictly administering the party and the country according to law and relying on the system. In accordance with the requirements of comprehensively administering the country according to law and strictly administering the party in an all-round way, accountability and investigation of cases of violation of law and discipline should be carried out in strict accordance with the law and regulations. Dare to investigate and handle cases, dare to be disciplined and accountable, and dare to touch the truth. At the same time, it is necessary to carry out organizational and institutional innovation, promote the reform of the national supervision system, comprehensively integrate anti-corruption resources, expand the scope of supervision, and establish a centralized, unified, authoritative and efficient supervision system and mechanism.

　　Comrade Supreme Leader pointed out that "popular support is the greatest politics, and justice is the strongest force". Governing the country must first govern the party, and the party must be strict. To strictly manage the party in an all-round way, we must govern power according to law and comprehensively promote the rule of law, which can provide long-term and effective institutional guarantee for strictly administering the party in an all-round way.

　　 (Wang Liming is the executive vice president of China Renmin University)

　　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.

The appearance of Tank 300 not only enhances the strength of independent automobile brands in the hard-core off-road field, but also promotes the progress of domestic automobile modification culture to a certain extent. There are as many as four "officially modified" models. Today, let’s take a look at what’s special about these four cars.

The first paragraph, tank 300 tank ranger

Guide price: 253,800 yuan

Co-brand: Yunliang Off-road

This is the first official customized model of the tank 300 in the true sense. It was built by the domestic modified brand Yunliang off-road, and the first batch of models were launched in August 2021. In appearance, the design elements of the tank 300 are largely retained, but the front and rear metal stamping bars and metal side bars are replaced, so that the protection of the car body is more in place, and a winch for rescue or extrication is added to the front bar. Tires and wheels have been replaced with off-road models, and nitrogen shock absorption has been replaced, which can cope with extreme road conditions more calmly. The A-pillar of the vehicle is equipped with a wading throat, and the wading depth can reach 900 mm. The second batch of models that are being booked have also added a trailer power inlet, a trailer square opening and an air conditioning entity button, which further improves the practicality.

(2021 Tank Ranger)

In the interior of the car, Tank Ranger also retains most of the design elements of Tank 300, but its performance in comfort configuration is relatively common. Steering wheel heating and Yanfei Lishi audio are not equipped with these two ordinary high-profile models. In addition, the seat is made of imitation leather, and the front seat has only heating and no ventilation function. It seems that the name of tank ranger is unreasonable, and he is a veritable "rough man".

(2021 tank ranger interior)

The second paragraph, the tank 300 wind forest fighters

Guide price: 270,800 yuan

Co-brand: Top Fire

Compared with the tank ranger, the change of Fenglin Iron Rider is bolder. In the front face, the middle net is changed to a simple double rectangular style, and the grille is denser than before, which can better block the impact of flying stones on the condenser. The air inlet is added to the hood, which makes the visual impact stronger. There is no wading throat at the A-pillar position, which will affect the wading height of the vehicle, but the overall feeling is stronger. The front bumper, side bumper and rear bumper of the vehicle have all been changed. After all, this is one of the most attractive places for a hard-core off-road vehicle. It is worth mentioning that this car is equipped with 285/70 R17 wide tires, the tires are basically flush with the wheel cover, and the visual effect is excellent. Such a hard-core tire configuration, of course, requires better suspension shock absorption, and Fenglin Tieqi is also equipped with nitrogen shock absorption and other configurations to improve the passability of vehicles. In addition, the roof is equipped with a luggage rack platform decorated with the words "TOP FIRE", which shows the identity and has strong practicability.

The interior hasn’t changed much, but the higher price compared with tank ranger gives it enough cost space to upgrade in comfort configuration. Steering wheel heating and front seat heating and ventilation are arranged, and the seats are made of leather, which makes the touch more comfortable. This car is also equipped with a PM2.5 filter in the car, as well as the addition of Yanfei Lishi audio and 64-color ambient lights, so that you can be very comfortable in the off-road process. It is also a practical function for camping enthusiasts to bring their own 220V power supply. The first batch of Fenglin fighters gained a good reputation, which also made people look forward to the improvement of the second batch of Fenglin fighters.

Paragraph 3, Tank 300 Border Limited Edition

Guide price: 280,000 yuan

With the cooperation experience with famous domestic off-road refitting brands, Great Wall Motor has also started to upgrade its original factory. This border limited edition model is a typical example, which basically combines the advantages of Tank Ranger and Fenglin Iron Rider. In terms of appearance, the front of this car abandoned the traditional TANK LOGO and replaced it with the simple English letter "Tank". At the same time, the middle net was changed to a black honeycomb style, and the sports atmosphere was improved. The front bumper has been upgraded to a competitive bumper, and the rear bumper has also been optimized. Its approach angle has reached 36 degrees, while its departure angle is 37 degrees, which is the largest among the official models of the 300 series of tanks at present. The front bumper is also equipped with a winch, the wading throat is also equipped, and the roof is equipped with an expandable roof platform, which is more comprehensive.

The interior part of the car basically maintains the configuration of the original high-profile model of the tank 300. Compared with the Fenglin Iron Rider, the front multi-storey sound insulation glass is added, which further improves the sound insulation effect of the vehicle. As an official-reformed vehicle independently developed by Great Wall Motor, the price of the limited edition of Tank 300 Border came to 280,000 yuan. It seems that Great Wall Motor is still quite emboldened. Do you think this price is worth it?

The fourth paragraph, tanks 300 cyber tanks

Guide price: 308,000 yuan

Co-brand: Chaojing

This is the only model of Tank 300 that has been modified to the urban SUV style. If the previous model is regarded as a competing product of herdsman, then this Cybertank is a competing product of Mercedes-Benz G. Although the prices of the two are very different, the styles are relatively close. The appearance of tough sports with gorgeous interior will bring about a turning back rate that is basically no less than that of a supercar. This cyber tank basically only retains the powertrain and chassis of the basic model, and the rest of it has undergone drastic changes. In the net, the penetrating headlights are added, and the car paint with matte gray is matched, so the overall look has a strong sense of science and technology. The wheel eyebrows are changed to the same color as the car body, and the integrity is better. The roof and rearview mirror are decorated with bright colors to enhance the sense of fashion. There is a big bump in the center of the hood to enhance the visual impact. The spare tire is no longer hung at the rear part of the car. Instead, it is a square suitcase with a larger spoiler at the top, but it is mainly used for decoration. Tyre size is 275/45 R21, with a relatively high face value, but it basically does not have off-road ability. Even if it crosses the speed bump or bumps, it is necessary to close the throttle, otherwise it will easily cause tire bulging.

The biggest change in the interior is the use of pure white color matching. The seats, center console and door panels are mainly white, followed by a large number of chrome-plated decorative pieces. The visual effect is excellent, but it is really not resistant to dirt. The stitching of leather seats is exquisite, and the sense of luxury is in place. According to legend, this is the most expensive model in the customized version of tank 300. Can you accept the price increase of such a model with a main face value?

These are the four special models of Tank 300 on sale. Although the price is much higher than that of the ordinary model, these models are equipped with hard-core configurations such as front and rear axle differential lock and part-time 4wd, which can meet the individual needs of different consumers. If the budget is enough, which one would you choose? In addition, this successful model of tank 300 is likely to continue to other models such as tank 500. Do you expect it? (Text/Youshi Automobile Control Wind)

Note: the pictures are from the internet, and the rights belong to the original author. Thank you! This article only represents the author’s personal views, and does not represent the position of AUV.

　　　　　　 Cctv newsRecently, the staff of Dalongtan Golden Monkey Field Research Base in Shennongjia, Hubei Province tracked and monitored the monkeys and found that a female monkey in the golden monkey population, a national first-class protected animal, successfully gave birth to the first golden monkey baby in the base this year.

　　　　　　 According to the relevant person in charge of the Dalongtan Golden Monkey Field Research Base, golden monkeys give birth from the beginning of March to the end of May every year, and females are generally pregnant from August to October in the first year, and the pregnancy period is nearly 200 days. Every female monkey usually gives birth once every two years, and it takes a year for the female monkey to feed the little golden silk monkey. In order to ensure that the mother monkey recovers as soon as possible and secretes enough milk to feed the baby monkey, the base adjusts the food supply type for the mother monkey, and sends special personnel to observe and monitor the mother monkey and the baby monkey around the clock.

　　　　　　 According to the statistics of the base, the population of golden monkey in Shennongjia has increased from 8 in 2005 to 10, and the number has increased from more than 1,280 to more than 1,470, and the habitat area has increased from 210 square kilometers to 354 square kilometers.

Total assets per household in each province

　　How many assets do urban households in China have? How much debt is there? Is the household debt risk controllable? The latest investigation and study by the investigation and statistics department of the central bank gives the answer. On April 24th, WeChat official account, the official WeChat of China Finance magazine, published the research report "Survey on the Assets and Liabilities of Urban Households in China in 2019", which was written by the research group of the Survey and Statistics Department of the People’s Bank of China.

　　In the middle and late October of 2019, the research group of assets and liabilities of urban households of the Survey and Statistics Department of the People’s Bank of China conducted an assets and liabilities survey on more than 30,000 urban households in 30 provinces (autonomous regions and municipalities directly under the Central Government). This is one of the most complete and detailed surveys on the assets and liabilities of urban residents in China.

　　According to the report, the three provinces (autonomous regions and municipalities directly under the Central Government) with the highest household assets are Beijing, Shanghai and Jiangsu, among which the average household assets of Beijing residents are 8.928 million yuan.

　　Family assets are mainly real estate.

　　Every household has 1.5 suites.

　　According to the survey data, the average total assets of urban households is 3.179 million yuan, and the median is 1.63 million yuan. The difference between the mean and the median is 1.549 million yuan.

　　After deducting the assets from the liabilities, the net assets obtained can more truly reflect the wealth level of the households. According to the survey data, the average net worth of urban households in China is 2.89 million yuan. The median net worth of a family is 1.41 million yuan, which is 1.48 million yuan lower than the average.

　　In terms of economic regions, the eastern region is significantly higher than other regions. The average total assets of households in the eastern region are 4.61 million yuan, which are 1.975 million yuan, 2.534 million yuan and 2.96 million yuan higher than those in the central, western and northeastern regions respectively.

　　The survey shows that the household assets of urban residents in China are mainly physical assets, with an average of 2.53 million yuan, accounting for 80% of the total household assets.

　　Of the physical assets, 74.2% are housing assets, and the average household housing assets are 1.878 million yuan. The proportion of residents’ housing assets to total household assets is 59.1%.

　　The survey shows that the housing ownership rate of urban households in China is 96.0%, the proportion of households with one house is 58.4%, the proportion of households with two houses is 31.0%, the proportion of households with three or more houses is 10.5%, and the average household owns 1.5 houses. The overall housing ownership rate of American households is 63.7%, which is 32.3 percentage points lower than that of China.

　　The more houses owned by urban households, the lower the proportion of housing assets in their household assets. The proportion of housing assets in the total assets of a family with one house is 64.3%, that of a family with two houses is 62.7%, and that of a family with three or more houses is 51.0%. This is mainly because families with multiple properties are more inclined to diversify their assets after solving their basic housing needs.

　　Risk-free financial assets per household are 350,000 yuan.

　　The total debt per household is 512,000 yuan.

　　According to the survey, 99.7% of the families surveyed have financial assets, with an average financial asset of 649,000 yuan, accounting for 20.4% of the total family assets. Compared with the United States, the proportion of financial assets of urban households in China is low, which is 22.1 percentage points lower than that of the United States.

　　The families are sorted by financial assets and physical assets from low to high. The financial assets owned by the families with the highest 10% financial assets account for 58.3% of all sample families, while the assets owned by the families with the highest 10% physical assets account for 47.1%. It can be seen that the imbalance of financial assets is more significant.

　　The survey shows that the holding rate of risk-free financial assets in the surveyed families is 99.6%, and the average household is 352,000 yuan; The holding rate of risk financial assets is 59.6%, and the average household is 501,000 yuan. From the survey sample as a whole, the average household holds 350,000 yuan of risk-free financial assets, accounting for 53.9% of the total financial assets, which is higher than the risk-free financial assets.

　　In terms of household liabilities, the survey shows that the proportion of households with liabilities is 56.5%. In terms of regions, the household debt participation rate in Northeast China is the lowest, accounting for 42.1%; 57.9% in the east and 55.7% in the middle; The highest in the western region is 60.1%.

　　Among the indebted families, the total debt per household is 512,000 yuan. Among them, 53.8% households have a debt balance of less than 300,000 yuan, 35.6% households have a debt balance of 300,000 to 1 million yuan, and 10.5% households have a debt balance of more than 1 million yuan. The liabilities of urban households are mainly bank loans. Among households with debts, the average bank loan is 496,000 yuan, accounting for 96.8% of the total liabilities of households.

　　The proportion of liabilities outside the banking system is low, only 3.2%, of which the average household liabilities of private loans and Internet financial products loans are 12,000 yuan and 0.1 million yuan respectively, accounting for 2.4% and 0.2% of the total household liabilities respectively.

　　From the perspective of debt use, mortgage is the basic composition of household debt. Among the indebted households, 76.8% have housing loans, and the average household housing loan balance is 389,000 yuan, accounting for 75.9% of the total household liabilities.

　　analyse

　　The household debt risk is generally controllable.

　　The report pointed out that the asset-liability ratio of urban households is generally stable and their solvency is generally strong.

　　Overall, the asset-liability ratio of urban households in China is relatively low. The survey shows that the average asset-liability ratio of urban households in China is 9.1%, which is lower than that of the United States (12.1%). Among them, the average asset-liability ratio of indebted families is 14.8%, and the median is 15.8%.

　　According to the report, the solvency of urban households in China is generally strong. According to the survey data, the average debt service income ratio of urban households is 18.4%, of which the mortgage debt service income ratio is 9.1%. The average debt service income ratio of indebted households is 29.5%, and the median is 26.7%.

　　According to the results of the investigation, the research group puts forward two problems that need to be paid attention to. First, the financial asset-liability ratio of households is relatively high, and there is a certain liquidity risk. The survey shows that the financial asset-liability ratio of urban households in China is 44.6%, among which the average financial asset-liability ratio of indebted households is 85.3% and the median is 117.3%, and the financial asset-liability ratio of more than half of households exceeds 100%. It can be seen that although the overall asset-liability ratio of residents is stable, the liquidity of assets is poor and there is a certain liquidity risk.

　　Second, the debt risk of some families is relatively high, mainly manifested in: some low-asset families are insolvent and the risk of default is high; Young and middle-aged groups have great debt pressure and high debt risk; There are many financial products such as wealth management, asset management and trust invested by the elderly groups, which are risky; The debt risk of just-needed mortgage families is outstanding. (Reporter Cheng Wei)

The scene of the game. Photo courtesy of Qinhuai River Company

Measure the first historical and cultural river in China with paddles, and enjoy the ancient city of Jinling on the Qinhuai River. At 6: 30 am on December 2nd, at the dock of Shicheng Park on Qinhuai River, the contestants of the 3rd Nanjing Rowing Marathon Open were ready to challenge the single rower to row the whole horse (42.195km) and the half horse (21.0975km).

According to the relevant person in charge of Qinhuai River Company, the innovative competition form and extremely challenging difficulty of the event are the first in China, which provides a new opportunity for the national contestants to "look at Nanjing from another angle" and also shows a new business card for Qinhuai River to strive for a global water gold track.

The scene of the game. Photo courtesy of Qinhuai River Company

After more than four hours of competition, Shi Haiming, a marathon runner in men’s single rowing, won the men’s team championship with a historical best score of 4 hours, 07 minutes and 01 seconds. Gu Yongheng was runner-up in 4 hours, 25 minutes and 41 seconds. Jason, president of Nanjing Rowing Association, is the oldest contestant in this competition. He has been participating in rowing marathon for three years at the age of 68, and won the third place in this competition in 4 hours, 36 minutes and 18 seconds.

Dr. Li Shengnan from Nantah Rowing Team, the first women’s single rowing marathon, won the women’s championship with the best time of 4 hours, 42 minutes and 03 seconds.

Winners celebrate the scene. Photo courtesy of Qinhuai River Company

The competition for the men’s single rowing half marathon was fierce. The top three finished the race within 2 hours, and Guo Wei won the championship in 1 hour, 51 minutes and 21 seconds. Jin Kewei won the runner-up in 1 hour, 57 minutes and 50 seconds; Gu Rong won the third place in 1 hour, 59 minutes and 55 seconds. Wan Wei and Miao Xudong, who participated for the first time, won the fourth and fifth place respectively.

It is understood that this event is guided by Nanjing Rowing Association, sponsored by China Boat Group and hosted by Nanjing Boat Friends Rowing Club. In terms of cultural excavation, the competition provided the contestants with detailed river maps in advance, as well as story explanations of historical and cultural allusions, paddled among them, moved to change scenery, and their mood rippled in history and culture. In recent years, water sports in Nanjing have experienced explosive growth, and more people have actually enjoyed the achievements of environmental governance in Nanjing. Bathing in the sun and paddling the Qinhuai River has become a new choice for Nanjing citizens to keep fit. (Chen Jian)