Every reporter Yi Wangqi Qijiang

Those fresh lives lost in campus loans have still failed to prevent cash loan platforms from extending their claws into the campus! Those grieving parents, tears are vaguely in front of them, but campus loans have revived.

According to a survey conducted by national business daily, platforms such as Flash Banking, Auction Loan and Loan are still quietly engaged in this business after the country banned campus loans. In the platform tested by reporters, the proportion of campus loans still exceeds 42%. Among them, the annual interest rate of the flash banking platform for granting usury to students is as high as 199.38%, and the platform also "invented" a variety of beheading interest. By borrowing from 1000 yuan, it is actually only 790 yuan!

In the one and a half years from May 2016, the former China Banking Regulatory Commission, the Ministry of Education and other ministries and commissions have continuously issued documents for campus loans, and the regulatory attitude is not strict. However, campus loans have been repeatedly banned, and even "innovated" more ways to collect high interest.

Summary of credit granting and down payment of test platform ↓ ↓

Cartography: Zou Li

Before the investigation, every reporter received many complaints, all of which reflected that some cash lending platforms issued usury to students. National business daily selected five college students from different places to participate in the test of seven cash loan platforms, namely Flash Bank, Auction Loan, Heyi Loan, 51 Personality Loan, 2345 Doudou Money and Small Win Card Loan. There are leading enterprises in the industry, listed companies and large and medium-sized platforms, and the test scope covers almost all levels of the cash loan industry.

After testing one by one, the reporter found that campus loans are making a comeback!　

Not only is Aiyoumi, a platform of key listed companies in Hangzhou, illegally engaged in campus loans (national business daily has previously reported), but also American listed companies and Flash Banking platforms that have been invested by China Merchants are secretly engaged in campus loans! In the platform of sampling test, the proportion of campus loans still being issued exceeds 42%.　

In fact, although this round of "restarted" campus loans has not yet exposed major vicious incidents, before the regulatory ban, campus loans can be said to be "notorious":

● March 2016

Zheng Dexing, a student of Henan College of Animal Husbandry Economics, has borrowed nearly 600,000 yuan from several campus financial platforms, unable to repay it. After the lender used various means to collect debts, he was so devastated that he jumped from the eighth floor of a hotel in Qingdao and died.

● April 2017

A sophomore girl from Xiamen Huaxia College committed suicide by burning charcoal in a hotel in Quanzhou because she was deeply involved in campus loans.

● September 2017

Zhu Yudi, a 21-year-old sophomore in Shaanxi, borrowed more than 200,000 yuan and committed suicide by jumping into the river when she was unable to repay it. Before losing contact, he also sent a small video of self-mutilation to his classmates, in which he cut three deep wounds in his left hand.

… …

Usury, naked strip, suicide … … It is precisely because of all kinds of negative news and even vicious incidents that campus loans continue to explode that the attitude of the regulatory authorities is constantly tightening.

● May 2016

The Ministry of Education and the former China Banking Regulatory Commission jointly issued the Notice on Strengthening the Risk Prevention and Education Guidance of Bad Campus peer-to-peer lending, and also focused on the "Bad Campus peer-to-peer lending", explicitly requiring colleges and universities to establish a daily monitoring mechanism and a real-time early warning mechanism for bad campus peer-to-peer lending. The former CBRC clearly put forward the five-word policy of "stop, move, rectify, teach and introduce" to rectify the campus loan problem.

● April 2017

The former CBRC issued "Guiding Opinions on Risk Prevention and Control in Banking Industry", demanding that the focus should be on cleaning up and rectifying campus online loans: peer-to-peer lending information intermediaries should not include borrowers who are unable to repay their loans in the marketing scope, prohibit providing online loan services to college students under the age of 18, do not conduct false fraudulent propaganda and sales, and should not issue usury in disguised form through various means.

● May 2017

The Ministry of Education, together with the former China Banking Regulatory Commission and the Ministry of Human Resources and Social Security, jointly issued the Notice on Further Strengthening the Standardized Management of Campus Loans. While encouraging commercial banks and policy banks to provide financial services for college students, it is required that all online lending institutions (not only the peer-to-peer lending information intermediary institutions targeted in the previous documents, that is, P2P online lending) be suspended to carry out online lending business for college students. At the same time, institutions established without the approval of the banking regulatory authorities are not allowed to enter the campus to provide credit services for college students.

● September 6, 2017

The Ministry of Education also held a press conference to clarify that "the campus loan business is banned, and no online lending institution is allowed to issue loans to college students."

● December 2017

The Notice on Standardizing and Rectifying the Cash Loan Business (No.141 Document) issued by the Office of the Leading Group for the Special Remediation of Internet Financial Risks and P2P Online Loan Risks blocked some platforms from engaging in campus loans in the name of "helping loans". On the one hand, Circular No.141 clarifies that P2P peer-to-peer lending information intermediaries and online microfinance companies are not allowed to issue campus loans, and at the same time, it requires banking financial institutions to cooperate with third-party institutions to carry out loan business, and they are not allowed to outsource core business such as credit review and risk control. The "loan assistance" business should return to its original source. Banking financial institutions should not accept credit enhancement services provided by third-party institutions with unsecured qualifications and disguised credit enhancement services such as bottom-up commitments. They should request and ensure that third-party cooperative institutions should not charge interest fees to borrowers.

● Xiao Shihai, an industry observer and co-founder of Xiaojinshe:

The first is that the previous campus lending institutions have formed path dependence, and they will not do anything else, but will only lend on campus;

Secondly, some cash loan products are packaged into regular consumption installment products, thus infiltrating into the campus market;

Third, for formal financial institutions, ordinary students are not very high-quality borrowers. Even if they can give loan support, their quota is limited. Then students who have more capital needs and even form lending habits can only reach out to campus loans. Supply and demand have always existed, but the supervision failed to identify and effectively punish the "disguised campus loan", so it is difficult to restrain the combination of supply and demand.

● Director of the Bank of China Law Research Association Xiao Sa:

From the borrower’s point of view, the whole society advocates early consumption, and the post-00 s and post-90 s formed the habit of borrowing and spending. Under the all-round bombing of shopping festivals such as "June 18" and "Double Eleven", the pickpocket party embarked on the road of borrowing. From the perspective of lending platform, it is nothing more than "interest-driven", because in the current environment, campus loan is a good profit growth point.

● Xue Hongyan, Assistant Dean of Suning Financial Research Institute:

The principle of supervision on campus loans is to open the front door and block the side door, encourage the layout of banking financial institutions, and prohibit small loan companies and unlicensed institutions from getting their hands on them. However, in practice, banks are not enthusiastic, leaving many blank spaces, leaving a lot of room for non-licensed institutions.

There are many reasons for the low enthusiasm of banks:

The first is interest rate restrictions. The profit model of campus loan is that high interest rate covers high risks. However, as a regular army, banks are highly expected by all parties, and it is impossible to raise interest rates, which makes it difficult for banks to make profits and lack commercial sustainability.

The second is business restrictions. The campus loan market is too scattered. First of all, the local banks that cannot operate across regions are excluded, while the national banks are all big, and the campus loan market space is limited, which makes it difficult to attract strategic attention.

The third is the competitive factor. With the help of payment tools, Internet giants have achieved a high degree of penetration into campus groups and firmly grasped this market. For banking institutions, campus loans are not undeveloped virgin land, and even if they are fully committed, they may not be able to achieve good results.

The fourth is reputation risk. Campus loan business space is limited, but public opinion is very sensitive, which easily leads to reputation risk and further weakens the enthusiasm of banks.

For small loan companies and non-licensed institutions, although college students have no source of income, they have a strong sense of credit and belong to relatively high-quality customers. Under the pressure of operation, these institutions are unwilling to give up this market. At the same time, in practice, identifying the borrower’s student status requires the lending institution to take the initiative. If the lending institution intentionally fails to act, it can also prevaricate supervision and public opinion supervision to a certain extent, so many institutions are still engaged in campus loan business with luck.

In order to seize more customers, banks have no control over the number of cards issued. At that time, many college students had at least two credit cards and nearly 10 credit cards. These fledgling students overdraw on different cards with unrestrained ideas, and the abuse of personal credit line also caused the credit card market of college students to become a mess.

● June 2009

The former China Banking Regulatory Commission issued the Notice on Further Regulating Credit Card Business, which clearly required banking financial institutions to issue credit cards to students in accordance with the principle of prudence. To issue credit cards to students, two requirements must be met: first, they must be at least 18 years old, and second, the repayment source agreed in writing to assume the corresponding repayment responsibilities. In fact, college students’ credit cards were officially suspended.

● Beginning in 2014

With the entrepreneurial tide of Internet companies, represented by Fun Staging (Fun Shop Group), Music Staging (Lexin Group) and Love Learning Loan (Love Finance Group), hundreds of student staging institutions have flooded into the market. Staging companies have intervened in the campus credit market with 3C products (computers, communications and consumer electronic products) as a bridge, continuing the early banking practices, such as recruiting campus agents, zero fees and small gifts. Soon after, many vicious incidents broke out, such as student suicide with huge debts and naked college students.

● August 24, 2016

The former CBRC clearly put forward the five-word policy of "stop, move, rectify, teach and introduce" to rectify the campus loan problem. Under pressure, many companies involved in campus staging business seek transformation or withdrawal.

● 2018

With the development of bank’s consumer loan business, retail finance business, consumer finance companies and loan-assisting market, the campus market has once again become the battlefield of institutional competition. Lending agencies return to the campus loan market in the name of helping banks and other financial institutions to issue consumer loans.

Xiao Ming, a test student, said that Flash Silver held high the "beheading knife" and did not let go of the students.

According to Xiao Ming’s feedback, he borrowed money from 1000 yuan in Flash Bank, but actually only got 790 yuan, which he thought was beheaded by 210 yuan.

What is the composition of 210 yuan’s beheading interest mentioned by Xiao Ming?

Part of it is 160 yuan’s pledge certificate for newcomers — — After Xiao Ming’s loan was successful, his bill in Flash Bank was shown as two: one was the 160 yuan newcomer guarantee voucher that needed to be repaid within three days; In addition, it is the real bill for his loan.

Image source: Photo courtesy of test students

The other part is 50 yuan’s automatic deduction — — About 1 minute after the loan from 1000 yuan arrived, Xiaoming was automatically deducted from the bank account of Flash Bank.

The collection accounts of the two payments are Beijing Flash Silver Singular Technology Co., Ltd..

Image source: Photo courtesy of test students

Xiao Ming, a test student, borrows money from 1000 yuan and repays it in three installments. The first installment needs to repay 379.65 yuan, the second installment needs to repay 340.02 yuan, and the third installment also needs to repay 340.02 yuan, totaling 1059.69 yuan. It seems that the interest is not high. But after getting rid of 210 yuan’s beheading interest, he actually only got cash 790 yuan. According to IRR formula, Xiaoming’s borrowing interest rate in Flash Bank is actually 199.38% per annum!

Xiaoming’s bank flow shows that the loan funds come from the account of Jinyuntong Network Payment Co., Ltd.

Image source: Photo courtesy of test students

National business daily sent an interview question to Flash Bank on campus loan. Flash Bank said that since April 2019, Flash Bank has made specific provisions on its products and services: users under the age of 22 are prohibited from completing loans through the Flash Bank platform.

Since it has been banned, why can test students still successfully borrow money? Flash silver can’t give a reasonable explanation, and Flash silver asks to see the detailed information of the students. Obviously, for the protection of the students involved, the reporter can’t provide the detailed information of the students to Flash Bank, and the loan credentials of the test students are kept safe for the relevant regulatory agencies to call.

Regarding the question of allegedly charging beheading interest in disguise, Flash Silver replied as follows:

After the user completes the loan service on the flash banking platform, the fees other than the loan principal and interest and value-added services are related service fees provided by the third-party platform, which is not mandatory. Among them, the guarantee voucher is a kind of virtual voucher issued to users by the third-party guarantee platform (users choose to check it voluntarily, which is not required for borrowing), aiming to help users enjoy the financial services provided by financial institutions more conveniently and quickly. Value-added service fees are fees charged on the basis that users enjoy the corresponding additional services, which are voluntary for users and are not required to borrow money. In addition, when confirming the loan, the user must manually check and confirm the agreement with the above corresponding service agreement, otherwise the loan recommendation service will not be provided, and Flash Bank will record the user’s operation track and time.

Regarding the annualized interest rate as high as 199.38%, Flash Bank argued that:

The user’s loan application is recommended by the flash banking platform to the relevant funders, and after passing the risk control audit of the latter, they can enjoy the loan service provided by the latter, and the latter will collect interest. The specific interest rate is not more than 36% per annum according to the law, depending on the credit status of users. As a third-party technical support platform, Flash Bank charges technical service fees based on technical cooperation with relevant funders.

Is the fact really as argued by Flash Silver?

Regarding the so-called voluntary check of Flash Bank, according to the video of the loan process provided by Xiaoqiang (a test student), when Flash Bank applied for a loan, the purchase of a guarantee certificate was the default check, and there was a small prompt below: Buying a guarantee certificate would help to increase credit.

Image source: Photo courtesy of test students

Every time a reporter inquires about the industrial and commercial information, it is found that the business scope of Beijing Flash Silver Singular Technology Co., Ltd., the recipient of the guarantee certificate, does not provide guarantee for personal loans. The reporter interviewed Flash Silver again on "whether Flash Silver Company is suspected of illegal operation and whether it is forced to tie-in the guarantee certificate to users", and the reply it gave still repeated the previous content, actually avoiding this question. Moreover, this is not collected by the third party of Flash Bank’s reply, and it is Flash Bank’s own affiliated company that collects the guarantee voucher fee.

Image source: Photo courtesy of test students

According to official website Information of Flash Silver, Beijing Flash Silver Singular Technology Co., Ltd. was established in April 2014. According to public information, as of April 2017, Flash Bank has more than 80 million users, and has successively received a series investment of 6.6 million US dollars from IDG, a series investment of 20 million US dollars from SIG, and a series investment of 80 million US dollars from China Merchants, SIG and Guangyuan Capital, with a total financing amount of over 100 million US dollars.

● Li Lingpeng, lawyer of Sichuan Road Signs Law Firm: The E-commerce Law prohibits tying by default.

No matter how Flash Bank explains it, as long as students get loans from its platform, it has violated the campus loan ban. In addition, although Flash Bank claims that the annualized interest rate does not exceed 36%, the actual interest rate shows that it is engaged in usury and beheading in violation of laws and regulations.

Article 19 of the E-commerce Law of the People’s Republic of China stipulates that tying goods or services by e-commerce operators shall draw consumers’ attention in a conspicuous way, and tying goods or services shall not be taken as an option of default consent.

Accordingly, the consequences of Flash Bank’s default check of the guarantee certificate should be borne by Flash Bank platform. Due to the consequences of this default check, the platform still constitutes the fact of charging the interest of deformation beheading.

In terms of interest rate, according to the Supreme People’s Court’s regulations on several issues concerning the application of law in the trial of private lending cases, the interest rate protected by law in China is actually divided into two grades. One is the annual interest rate of 24%, and the lender in this grade can ask the borrower to repay the interest at the interest rate of 24%; There is also a file with an annual interest rate of 36%. In this file, the lender cannot ask the borrower to repay the interest at the interest rate of 36%, but if the borrower has already repaid the interest at the interest rate of 36% or even over 36%, it does not need to be returned within the range of 36%, and the part exceeding 36% needs to be returned. The real interest rate of Flash Bank loan is as high as 199.38% per annum, which is illegal.

Article 200 of the Contract Law clearly stipulates: "The interest on the loan shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan shall be returned according to the actual loan amount and the interest shall be calculated. " As for all kinds of breakthroughs or disguised breakthroughs in the legal interest rate red line with interest, liquidated damages, service fees, intermediary fees, margin and extension fees, the Supreme Law also clearly stipulates that it should not be supported according to law. By default, 160 yuan Newcomer Guarantee Certificate is checked by Flash Bank, which is actually a variant of beheading interest.

In addition, the Supreme People’s Court also stipulated in the Notice on Properly Handling Private Lending Disputes in accordance with the Law to Promote Economic Development and Maintain Social Stability that "if the lender deducts interest from the principal in advance, it shall return the loan according to the actual loan amount and calculate the interest." This judicial interpretation clarifies how to solve the problem of deducting interest from principal. Xiaoming borrowed money from 1000 yuan and got 790 yuan. Then, Xiaoming should only repay the loan according to 790 yuan, and the interest within the legal scope can only be calculated according to 790 yuan’s principal.

The auction and loan platform invested by Sequoia Capital still allows students to obtain loans regardless of the national campus loan ban.

According to feedback from Xiaoqiang, a test student, he got a credit line of 13,000 yuan in the auction loan, and he cashed out 1000 yuan.

Although the auction will specifically remind "not to provide loan services for students at school", in fact, Xiaoqiang, as a student, obtained a loan from the platform.

According to Xiaoqiang, when applying for a loan, a reminder will pop up: Pat Loan does not provide loan service for students at school. If you are a student at school, please stop borrowing. Then there are two buttons, one is the gray button to stop borrowing and the other is the light blue button to continue borrowing. Shortly after he clicked Continue to borrow, the bank card bound to Paipaidai received a 1000 yuan from Shanghai Paipaidai Financial Information Service Co., Ltd.

Image source: Photo courtesy of test students

According to the loan contract, Xiaoqiang, a test student, borrowed money from 10 lenders in 1000 yuan, with the most one being 416 yuan and the least one being 25 yuan.

Xiaoqiang’s loan is repaid in 12 installments, each installment is one month, and the monthly repayment is 88.38 yuan (including interest, the loan interest rate is 11% per year). At the same time, according to the contract, Xiaoqiang also needs to pay a listing fee of 6.66 yuan/month for the auction loan, totaling 79.92 yuan in 12 issues; And pay a monthly risk guarantee fee of 10.17 yuan, totaling 122.04 yuan in 12 periods. Together with these two expenses, Xiaoqiang actually needs to pay 105.21 yuan a month.

1000 yuan, the principal of the loan, repays 105.21 yuan in each installment. According to the IRR formula, Xiaoqiang’s actual interest rate on the loan is 45.39% per annum, which is higher than the legal interest rate of 24%.

Every time a reporter interviewed on the issue of issuing campus loans, he patted the loan and replied:

Since 2016, all student loan services have been cancelled. At present, the only student authentication system in China is not open to any internet financial platform, so it is impossible to accurately identify students’ identity directly through official channels (Xuexin.com, etc.). At present, the second identity confirmation is carried out through various third-party channels, including but not limited to the location information authorized by users and the common IP addresses when users log in to pat loans. At the same time, if you pat the loan, you will ask the user to refund the principal after learning that the borrower is a student, and immediately terminate the loan.

"Magic Mirror", a big data risk control system independently developed by Paipai Loan, will conduct differentiated risk pricing through the information that users can obtain on the Internet and the new news that they are authorized to obtain. In the case of strictly observing the relevant provisions of the state on borrowing interest rates, the borrowing costs incurred by different users, different borrowing amounts and different borrowing periods will also be different.

Is the fact really as described in the auction loan?

During the loan process, Xiaoqiang, a test student, truthfully filled in the address information of a specific school, and the contact person was also reserved for classmates, and still got the loan.

It is no problem to give different loan interest rates according to the lender’s credit status, but it also avoids the problem of usury: the actual loan interest rate is 45.39% per annum, which is higher than the legal interest rate of 24%.

Paipai Loan is a well-known leading enterprise in the industry. According to Paipai Loan official website, Paipai Loan (US stock code: PPDF) was established in June 2007. In October 2012, Paipai Loan was awarded Series A financing and invested by sequoia capital china. In April 2014, the second round of financing was completed by auctioning loans, and the investment institutions were Lightspeed China Venture Capital Fund, Sequoia China and noah wealth; In April, 2015, Paipai Loan completed the C round of financing, which was jointly led by Legend Holdings’ Junlian Capital and Heiner Asia, followed by VMS Legend Investment Fund I, Sequoia China and Lightspeed China Venture Capital Fund.

On November 10th, 2017, Paipai Loan was successfully listed on the new york Stock Exchange, and the latest market value on August 5th, 2019 was USD 1.14 billion.

By the end of September 2018, there were more than 83 million registered users.

● Li Lingpeng, lawyer of Sichuan Landmark Law Firm: Lenders cannot be allowed to audit themselves.

The annualized interest rate of 45.39% of the auction loan exceeds the legal upper limit. In the actual implementation process, if the borrower can’t repay the loan on time, the lawsuit can only be based on the annual interest rate of 24%.

In addition, although the loan was prompted on the application page, it actually failed to fulfill the audit obligation, which led to the loan being given to the students at school, which still violated the regulations prohibiting campus loans. Because the campus loan ban is aimed at the platform, then the platform has the obligation to review. The responsibility for failing to identify students lies with the platform, and lenders cannot be allowed to audit themselves. The reminder of "If you are a student at school, please stop borrowing" is tantamount to letting the lender audit himself.

In the process of borrowing from the loan platform, the test student Xiao Wang was still confused and was insured at a sky-high price, and the loan interest rate was as high as 71.56% per year!

Xiao Wang originally applied for a loan from 1000 yuan, but after the loan, it was found to be 1093 yuan, and 93 yuan’s principal needed to be repaid. The extra 93 yuan was an accident insurance product insured by Yi ‘an Insurance.

Not only are the products of Yi ‘an Insurance quietly tied up by the loan, but the premium is 100 times higher than that of similar products of Yi ‘an official website: 1000 yuan insured the accident insurance for 6 months, and the premium is as high as 93 yuan; However, the premium of similar products with a coverage of 100,000 yuan in official website and a one-year guarantee is only in 80 yuan.

How on earth was the borrower insured without knowing it before the insurance? This insurance process is extremely hidden, and no clear insurance tips are given throughout. When borrowing money, the borrower needs to click the "Borrower Protection Plan" at the bottom of the page to cancel the insurance. However, this borrower protection plan does not directly show that it is to buy insurance products, which is difficult for ordinary people to find, so it is tied to insurance in a muddle.

Image source: Photo courtesy of test students

The loan actually obtained by Xiao Wang, a test student, was 1000 yuan, which was repaid in six installments, each of which required repayment of 203.13 yuan, with a total repayment of 1,218.78 yuan. Using IRR formula, the annualized interest rate is as high as 71.56%, which is obviously higher than the legal interest rate.

National business daily interviewed the student about the loan, interest rate and sky-high insurance.

The reply to the question of allowing students to get loans is as follows:

The platform does not carry out campus loan business, and the platform strictly identifies users through technical means and manual audit, but it cannot be ruled out that users conceal their true student identity, and obtain credit by providing false information and falsifying application materials to avoid platform audit.

As for the annualized interest rate as high as 71.56%:

And the loan denied it, saying that the platform designed all the products and service models of the platform according to the limit of 36%/ year.

Regarding the issue of tying insurance, the loan explained that:

The platform and the insurance company are diversion cooperation. In order to improve the borrower’s ability to resist risks, the borrower’s accidental injury insurance is set up, and the user voluntarily purchases the insurance. The premium is priced according to the borrower’s qualification and the insurance company’s algorithm, and the insurance fee is directly charged by the insurance company, and there is no disguised beheading.

Then, according to the explanation of the loan, does it mean that it is a compliance platform?

In theory, it is impossible to exclude users from concealing their true student identity. Is this really the case? According to the video provided by the test students, the reporter also carried out the verification of Xuexin.com when registering, and the result showed that the student status information could not be found, probably because he did not graduate. Therefore, the excuse of the loan is simply untenable.

Image source: Photo courtesy of test students

In addition, according to the legal analysis of the above lawyers, the obligation to identify whether the applicant is a student lies in the platform. If the platform finally provides a loan to the lender who is a student, it is that the platform has not fulfilled its audit obligation.

However, the interest rate problem and the loan evaded the above-mentioned problem of the actual interest rate of 71.56% for student loans, and only denied usury, but did not point out that the calculation of the interest rate of 71.56% was wrong. The student’s entire loan process has video evidence, which can clearly calculate the annualized interest rate of the loan.

Regarding the tying of sky-high insurance, lawyers believe that the act of lending is suspected of violating the law, which violates the Electronic Commerce Law of the People’s Republic of China, the Insurance Law and other laws.

● Li Lingpeng, lawyer of Sichuan Landmark Law Firm:

First of all, tying insurance services in loan services is not prohibited by law, but the premise is that consumers must be clearly informed and agreed. However, the loan not only helps consumers to check the insurance services by default, but also directly infringes on consumers’ right to choose, which violates Article 19 of the Electronic Commerce Law of the People’s Republic of China, which stipulates that tying goods or services should not be used as the default consent option.

Secondly, according to Article 131 of the Insurance Law, insurance agents, insurance brokers and their employees shall not conceal important information related to insurance contracts in handling insurance business activities. In other words, when selling products, third-party platforms need to indicate the specific underwriting subject and sales subject, as well as the product record number and product terms link.

Third, the annualized interest rate of the loan is as high as 71.56%, which is obviously higher than the provisions of the Supreme Law on the interest rate of private lending.

In addition, judging from the public cases in recent years, courts at all levels generally do not support the "beheading interest" in private lending. On May 11th, 2017, Beijing Chaoyang District People’s Court held a press conference and issued a judicial proposal to the China Banking Regulatory Commission, suggesting that the CBRC issue detailed rules prohibiting the direct deduction of intermediary fees from the loan principal.

In view of the distorted "beheading interest", in the Notice on Standardizing and Rectifying the Cash Loan Business issued on December 1, 2017, it was clearly pointed out that the comprehensive capital cost charged by various institutions to borrowers in the form of interest rates and various fees should comply with the provisions of the Supreme People’s Court on the interest rate of private lending, and it is forbidden to issue or match loans that violate the relevant interest rate provisions of the law. The comprehensive capital cost charged by various institutions to borrowers should be converted into annualized form, and information such as loan conditions and overdue treatment should be fully and publicly disclosed in advance to remind borrowers of relevant risks.

On December 8, 2017, it was also mentioned in the Implementation Plan for Special Remediation of Network Microfinance Business Risks of Microfinance Companies issued by the Office of P2P peer-to-peer lending Leading Group for Special Remediation of Risks that the ratio of all borrowing costs and loan principal charged to borrowers in the form of interest rates and various fees should be calculated as a comprehensive real interest rate and converted into an annualized form. Check whether the comprehensive real interest rate meets the provisions of the Supreme People’s Court on private lending interest rates. Whether there are behaviors such as deducting interest, handling fee, management fee and deposit from the loan principal in advance or setting high overdue interest, late payment fee and penalty interest. Whether key information such as comprehensive real interest rate, loan amount, loan term, repayment method and overdue treatment are fully and fully disclosed to the borrower in advance and relevant risks are prompted.

According to the feedback from the test student Xiao Zhang, he got a credit line of 6,000 yuan in the 51-character APP. Behind the platform are well-known enterprises and funds such as CITIC Bank, JD.COM, Xiaomi, Yintai, the new lake treasure and Harvest Investment.

Taking a loan of 3,000 yuan and a loan of 6 months as an example, the 51-character APP shows that the total repayment amount is 3,522.6 yuan, the first phase needs to be repaid by 749.6 yuan (including the audit fee of 195 yuan), and the last five phases (one month each) need to be repaid by 554.6 yuan. According to the calculation formula of IRR, if Xiaoming succeeds in borrowing money from 51 people, the real interest rate is 60.09% per annum.

However, after Xiao Zhang submitted the loan application, the review failed. At the bottom of the notice of loan refusal, there is a 1-minute entrance to inquire about the reasons for loan refusal. You need to pay a fee to inquire about the reasons for loan refusal. Every time a reporter noticed, at the bottom of the page where the loan application was submitted successfully, it showed that you can also buy a time-saving service, and you can enjoy the service of up to 10 times compensation for overtime.

51 Character related staff told every reporter that the pre-credit line is not the same as the actual loan line, and the actual loan line will be determined according to the user’s review and evaluation of the platform’s risk control system; 51 personality risk control audit refuses the student group at school, so the platform will refuse its loan application.

51 character is a product of 51 credit card. According to official website, 51 Credit Card was listed on the main board of Hongkong in 2018. In May 2012, 51 Credit Card launched an app that can intelligently manage credit card bills with one click & mdash; — "51 credit card housekeeper". Up to now, 51 Credit Card has gradually developed a dynamic and self-reinforcing ecosystem, providing users with one-stop personal financial services covering personal credit management services, credit card technology services, online loan matching and investment services. It has a variety of apps such as "51 Credit Card Manager", "51 Personality" and "51 Personality Loan", with more than 100 million active users.

On August 5, 2019, the page of 51 people showed that the accumulated transaction was 77.59 billion yuan.

Image source: 51 character official website screenshot

The list of shareholders of credit cards (shown in official website) includes: China CITIC Bank, JD.COM, Xiaomi, Yintai, the new lake treasure, Harvest Investment and other well-known enterprises and funds.

Xiao Ming, a test student, gave feedback. He immediately took out a loan to register his mobile phone number, took photos of the front and back of his ID card, and performed face recognition. After submitting relevant personal information, he soon received an audit message: Your information did not meet the conditions for opening an account, and this application failed the audit!

Test student Xiaoming’s feedback: After registering the mobile phone number in Doudou Money, verifying the real name, filling in the relevant personal information, submitting it to the mobile phone operator for authentication, and carrying out face recognition, it is necessary to carry out credit card verification or provident fund account binding. Because Xiao Ming hasn’t graduated, he doesn’t have a credit card, and he doesn’t have a provident fund account, so he didn’t get the credit line of Doudou Money.

According to official website information, Doudou Money is a new Internet financial product launched by Weixin Jinke, with a maximum loan of 200,000 yuan. On June 21, 2018, Weixin Jinke landed on the main board of the Hong Kong Stock Exchange with the stock code of 02003.

Xiao Ming, a test student, said that Xiaoying Card Loan also needs to verify the credit card information, and it has not obtained the credit limit of the platform.

Xiaoying Card Loan official website shows that it is a product of Xiaoying Technology. Xiaoying Technology was established in March 2014 and listed on the new york Stock Exchange in September 2018 with the stock code XYF.

Tang Yue, the founder of Xiaoying Technology, is also the founder of eLong Travel Network. The shareholders of Xiaoying Technology also include: Zhu Baoguo (Chairman of Health Yuan), Chow Tai Fook Enterprise, Zhang Songqiao (20th in Hurun Real Estate Rich List in 2007), Xinhualian Group (000620), Yintai Group, Huarui Century Group, Golden Mantis Enterprise Group (parent company of Golden Mantis, a listed A-share company) and urban real estate.

Cover image source: Photo Network

Intern Zhang Ling, Yu Ling and Han Qingwei also contributed to this article.

(In order to protect the privacy of the parties, the test students in this paper are pseudonyms.)

Special feature of 1905 film network It’s the annual Spring Festival again. Before entering the big screen, Xiao Dianjun once again wishes everyone a happy New Year, seeing good luck and full welfare here.The annual practice can’t be changed. On the first day of the first day of the first year, I will bring you the first-hand evaluation of the Spring Festival file, ensure dry goods, and ensure that everyone can harvest a happy New Year in the cinema.

In 2023, only 12 hours passed on the first day of the New Year’s Day, and the single-day box office has exceeded 890 million, which really proves the super-carrying power of the "strongest Spring Festival file in history".

In recent years, the Spring Festival stalls are not the strongest, only stronger.This year, it was assembled, as well as 7 blockbusters of the animated film "Bear Haunted with Me" Bear Core ". These films cover a variety of theme types, and are also the creative gathering of three generations of directors.

I don’t know. What movies are you going to see today?Xiao Dianjun also wants to hear your feedback. If you haven’t bought a ticket yet, or don’t know what movie to watch next time, then let’s take a look at the Spring Festival file recommendation guide we brought to you, and easily get who is your best movie-watching partner. Of course, as a series with a fixed audience, there is no need to say too much.

The Wandering Earth II

Director:

Starring://etc.

Duration: 173 minutes

Suitable for the audience:Science fiction fans, people who care about the meta-universe, celestial lovers, and people who like to burn their brains.

The fangs of the editorial department of 1905 Film Network:Starting from the amazing "first year of science fiction movies" four years ago, today’s Wandering Earth 2 undoubtedly carries more expectations.

Therefore, in terms of plot, this episode is definitely a "brain burning" compared with the opening "unscrupulous" explosion of Jupiter. The length of the film is lengthened with the increase of information. The film length of three hours has increased the threshold of watching movies a little bit, but fortunately, the quantity and quality of big scenes have made a qualitative leap.

There are highlights at the beginning, middle and end.

There is no doubt that the series is still the TOP in China’s sci-fi. The texture avoids the problem that many sci-fi themes are divorced from reality, but it is very consistent with the feeling of pursuing a documentary, which also makes the feeling of substitution and connection more intense when watching movies. In addition, there are more clues to the characters in this episode, and audiences with different preferences should be able to "take what they like".

Man Jiang Hong

Director:

Starring:///etc.

Duration: 159 minutes

Suitable for the audience:Xian Yi, young and old, brain-burning reversal story lovers

1905 Film Network Editorial Department miro:You can see many shadows of Zhang Yimou’s past works in "The Red River", such as the elegant house, the suspense spy war in the movie, the distraction and revenge in the movie, and the unique use of colors.

However, "Man Jiang Hong" is also brand-new. At the age of 72, Zhang Yimou is still trying to talk to the young audience, combining the script games and escape from the secret room that young people love with his favorite historical themes, and has completed a brand-new exploration in the field of genre films.

Shen Teng, Yun-peng Yue and other comedians are not abrupt, and they have a good grasp of the scale of Zhuang and Harmony, which is not dramatic. Jackson Yee did not lose ground in the game of "playing bone" with the whole staff, which better explained the versatility and contrast of the role.

Kino, editorial department of 1905 film network:This is like an ancient costume version of Zhang Yimou, and everyone who enters the game is duplicitous and hidden.

High-density plot, uninterrupted suspense information stimulation point, in the smooth scheduling rhythm, in the process of revealing the true identity and purpose of each character step by step, and gradually flipping the previous speculation and approaching the whole truth, the narrative charm of the film is brought to the extreme, especially the setting of Qin Gui at the end, which turns out to be the biggest surprise.

Shen Teng, Jackson Yee, Zhang Yi, Yun-peng Yue, Lei Jiayin and other actors with completely different characteristics, their performances in the film have been revitalized and blended together.

The audience is like following them to play a script killing game in the secret room of the compound. It is not only afraid of "spoilers", but also afraid of "spoilers", because this puzzle ultimately pursues a higher expression dimension, chanting with an unexpected scene of "Man Jiang Hong" which is also in line with the logic of plot promotion, igniting the climax of home and country feelings and permanently freezing "Man Jiang Hong".

Before Zhang Da, who is full of blood, and after Sun Jun, who is growing and changing, the film will reach the heart of every Chinese, and will forever praise Yue Fei’s spirit of loyalty to the country.

Nobody

Director:

Starring://etc.

Duration: 128 minutes

Suitable for the audience:Spy film lovers, fans of anti-Japanese history

Kino, editorial department of 1905 film network:From the fall of Guangzhou in 1938, the turbulent Shanghai in 1941, to Hong Kong in 1946, The Unknown is a group portrait sketch of people in the hidden front before and after the history of War of Resistance against Japanese Aggression.

Every character has a nameless surname, and their actions and words are well-tuned, but the inside is unfathomable. They are Wang Puppet agents, communist party people in the undercover secret service department, traitors, traitors, political speculators and patriotic heroes? In the process of constant temptation and suspicion, everyone’s veil left unlocked is lifted one by one. This mysterious historical torrent is also a sad song under the war. Everyone is playing with it like a chess piece, and the sense of jumping from scene to scene, like their fate, is completely different from the moment before.

Tony Leung Chiu Wai plays the drama of concealment and forbearance, which he is good at. YiBo, who is in a movie for the first time, plays a variety of emotions, such as frivolous and stubborn, painful and fragile, and murderous and violent, especially when the two men fight each other from fist to flesh. This role is the eye of the play, and it is also the sleeve sword to be displayed at the end of the whole film.

Exchange of life

Director:

Starring: Lei Jiayin//etc.

Duration: 110 minutes

Suitable for the audience:Xian Yi, young and old, taking parents to the movies, dating people, all those who want to go to the cinema for relaxation.

Ma Xun, Editorial Department of 1905 Film Network:Exchange of Life is undoubtedly the most suitable movie for everyone to watch this year’s Spring Festival.It is like the bowl of eight-treasure rice on the dinner table during the Spring Festival, with all kinds of beauty. All actors are like eight-treasure desserts on glutinous rice. When the story is slowly told, the kindness and beauty between people that the director wants to express is like the bean paste under glutinous rice, which is sweet but not greasy and gives enough energy.

The most touching thing about the film is the emotional connection between yourself and the people around you. Everything still lies in the self itself. However, Su Lun didn’t deepen the story excessively, but still played the characteristics that she was good at in the film, and packed it perfectly with light comedy.

China Ping-Pong: The Jedi Fight Back(released on the third day of New Year’s Eve)

Director:/

Starring: Deng Chao//etc.

Duration: 137 minutes

Suitable for the audience:Xian Yi, young and old, sports lovers, partners get together.

1905 Film Network Editorial Department miro:Undoubtedly, it is the best combination of Deng Chao and Yu Baimei, who are familiar with genre film techniques and have a high degree of completion.The film cleverly chooses the special side of China Men’s Table Tennis, the "teacher of kings": the Jedi counterattack in the trough and the rebirth of Nirvana after the failure, which makes the film full of drama and closer to the true nature of sports films: never give up until the ball hits the ground! It has both tears, ignition and laughter, and it is quite family-friendly in the Spring Festival file.

What’s more, there is almost no slogan-style chicken soup stacking and blunt value output in the film, and there are no practical problems such as "high treatment in foreign leagues" and "stepping stones are not taken seriously", which is a brave attempt of domestic sports films.

The fangs of the editorial department of 1905 Film Network:At the premiere, Sun Li said that "Ping Pong in China" was closer to the "background color" of Deng Chao. After watching it, he did feel the same way. Compared with previous works, he really sank as the director and starring of this film.

As the "national ball" of China, table tennis bears different feelings and weights among the audience. Fortunately, Table Tennis in China found the most appropriate time to cut into and create its own story, but did not write "glory", but told where the "glory" came from.

The most touching line in the movie is "Choosing to be an athlete is the most difficult way", and the unique core and charm of China sports "Dream Team" is understandable in "China Table Tennis".

Deep sea(animation)

Director:

Duration: 112 minutes

Suitable for the audience:Animator, pressure emotional exporter, technical house

Ma Xun, Editorial Department of 1905 Film Network:If Tian Xiaopeng opened the door of "the rise of the country" with one movie, then, seven years later, it once again raised the ceiling of the country’s technology with a movie "Deep Sea".This movie is ambitious, trying to heal the deep fragility of human nature. As the creative team said, Deep Sea will be a controversial story.

It’s hard to explain this story in simple words. Just look at the two characters in the film, the female calling Alnitak and the male calling Nanhe. Both names are related to the traditional stars in China. The former is the seventh of the seven western nights, and the latter is one of the star officials of the seventh of the seven southern nights (Jingsu).

In the relationship between the stars and the stars, Betelgeuse and Jingsu are honored. In the movie, the two are not such a proud relationship between father and daughter. Perhaps their identity is the key point to open the story.

　　"The rapid development of new media is independent of people’s will."

　　"Whoever masters the user will win the world."

　　"If you are indifferent and discouraged, you will lose your right to speak."

　　On the afternoon of July 22nd, the new media forum and the seminar on the second anniversary of the founding of Weibo, the legal person of People’s Daily, was held in the lecture hall of the People’s Daily Complex. Leaders from Internet companies such as People’s Daily Online, Xinhuanet, china network television and Baidu, Qihoo 360 and Sina, as well as experts and scholars from universities such as Tsinghua University and China Renmin University, discussed the development of media convergence, and discussed new opportunities for the development of mobile Internet and new topics of media convergence.

　　Leveraging the new media platform to amplify the traditional advantages of paper media.

　　"Two years ago, we also had the worry of’ wearing a necklace if it is done well, but wearing a chain if it is not done well’." At the meeting, the person in charge of the operation team of Weibo, the legal person of People’s Daily, revealed that at the beginning of its establishment, Weibo, the legal person of People’s Daily, also encountered a netizen’s vomit: "What is the People’s Daily doing in this place of Weibo?"

　　On July 22nd, 2012, Weibo, the legal person of People’s Daily, went online urgently, closely followed the development of the situation and took the lead in disclosing the list of victims. According to scholars’ observation, "On the night of heavy rain in Beijing, the decibel of the Central Committee of the Communist Party of China organ newspaper overshadowed many market-oriented media and became a powerful public opinion guide in emergencies."

　　In the past two years, Weibo, the legal person of People’s Daily, has adhered to the position of "authoritative voice, mainstream value and fresh expression", participated in, communicated with and recorded the times in sincere communication with netizens, initially established the image of "authority, rationality, integrity and affinity", and gradually became the promoter and promoter of positive energy in the eyes of netizens.

　　With the help of Weibo platform, the traditional advantages of People’s Daily have been enhanced and amplified. The original commentary columns of "Hello, Tomorrow" and "People’s Micro-comments" are unique in the public opinion field in Weibo with their fresh writing style and unique perspective.

　　"Weibo, the legal person of People’s Daily, has become the strongest voice in Weibo’s public opinion field, and a leader in Weibo with speed, depth, breadth, strength and coverage." In the crash of Malaysia Airlines, Chen Tong, executive vice president and editor-in-chief of Sina, "counted twice" Weibo, the first issue of People’s Daily, which was forwarded more than 120,000 times. Sina internally boils down to "the ability to make good use of Weibo topic products, highlight events and drive Weibo to forward through rolling reports".

　　In the view of Professor Yu Guoming of China Renmin University, Weibo, the legal person of People’s Daily, has completed three aspects of transformation and change: "Be reasonable and more emotional; Value, but also charm; Talk about self-confidence and more about public trust. "

　　Up to now, Weibo, a legal person of People’s Daily, has more than 46.11 million fans on People’s Daily, Sina.com and Tencent.com, ranking first in all media accounts in Weibo. On the Sina platform alone, the total reading volume has exceeded 20 billion times since the blog was opened, and the average number of reviews of a single Weibo has exceeded 5,000 times.

　　Ren Xianliang, deputy director of the National Internet Information Office, believes that new media should strengthen content innovation, "be closer to the masses, be more civilian and grassroots, and pay more attention to temperature." This is exactly what Weibo, the legal person of People’s Daily, has been insisting for a long time.

　　Convergence wins users by two-wheel drive of content and technology

　　Experts attending the meeting believe that in order to win the future, media development must strengthen user awareness, and take the possession, development and gathering of users as an important starting point, which runs through the whole process and all aspects of media integration and development.

　　"Whoever masters the user will win the world." Zhou Hongyi, chairman of Qihoo 360, lamented his entrepreneurial experience. "All business models are based on a huge user base." On the Internet, you have hundreds of millions of users, and history has proved that you must have a way to find a profit model.

　　Wang Wenbin, general manager of china network television, recently realized this deeply. During the World Cup in Brazil, the CBox CCTV audio-visual client launched by CCTV. com had more than 40 million new installations, and 150 million people watched the World Cup through this "all-round live artifact". In his view, the deepening of network integration has brought about the explosive growth of CCTV audio and video downloads.

　　In the view of Tian Shubin, president of Xinhuanet, the battlefield of the current user dispute is undoubtedly in the mobile Internet. He used the word "noisy growth" to describe the great changes in cmnet in recent three years.

　　In the information age, the leading role of technology development is beyond doubt.

　　"On the one hand, content is king, but at the same time, how to spread better content depends on new forms of expression and new means of communication." Ren Xianliang said in his speech.

　　Cloud computing, big data, smart terminals, these are the words frequently mentioned by the guests. "One-time collection, multiple generation and multiple communication" is the channel integration under the background of media integration. "This requires big data, and the core of big data is to calculate everything that can be calculated." Shenyang, a professor at Tsinghua University, said.

　　Ceng Liang, vice president of Baidu, introduced the latest exploration in the field of artificial intelligence. Using computer projects to simulate the human brain, the current "Baidu brain" is probably equivalent to the intelligence level of a two-or three-year-old child. He cited the picture recognition technology as an example, and there are many information about missing people in Weibo. If you see a street child, the photo taken with your mobile phone will be automatically recognized by the program and automatically connected with the background database of government departments, so as to identify whether the street child belongs to a missing child.

　　"The advantages of content are not static, and technological innovation is not once and for all. We must keep a close eye on the forefront of technology, aim at the development trend, constantly lead the development of integration with new technologies and applications, and embark on a road of integrated development with two-wheel drive of content and technology. " This passage became the consensus of the participants.

　　Develop all-media from a newspaper to websites, WeChat and clients.

　　Relying on Sina and Tencent, People’s Daily has gained many fans on social platforms such as Weibo and WeChat. Liao Kun, president of People’s Daily, lamented that nowadays, when it comes to websites, People’s Daily has People’s Daily, Overseas Network and World Wide Web. Speaking of Weibo, there are People’s Daily legal person Weibo, People’s Daily legal person Weibo, and Global Times legal person Weibo; Speaking of WeChat, there are People’s Daily WeChat, People’s Daily Comment WeChat, and "Learning Group" and "Chivalrous Island"; Speaking of the mobile terminal, there is the People’s Daily client and the People’s Mobile Network.

　　On June 12, the brand-new People’s Daily client was officially launched. In more than a month, the number of independent downloads by users exceeded 4.1 million and the number of active users exceeded 400,000. Today’s People’s Daily has grown from a newspaper in the past to 10 kinds of carriers such as newspapers, magazines, websites, Weibo, WeChat, clients, mobile newspapers, mobile phone networks, Internet TV and electronic newspaper reading columns, which basically covers all kinds of existing forms of communication.

　　"To share everything that can be shared, to be a new media must have such a sense." Shenyang said.

　　"Integration and development should never be carried out behind closed doors, but we should have the awareness of leveraging development." Yang Zhenwu, president of People’s Daily, said that we will be more open and explore flexible and diverse ways of cooperation in terms of content, technology, channels, management and investment. We will further broaden our horizons, give full play to the advantages of People’s Daily in the industry layout and industrial structure, form a new communication model and business model, and explore a way for the integration and development of traditional media and emerging media.

　　People’s Daily (12th edition, July 23rd, 2014)

　　[New Car Illustration] The name Spyker is extremely strange to most Chinese people, and it can’t be associated with anything. To tell the truth, before that, I only had a superficial understanding of Spyker. In my impression, Spyker brand has a long history but has disappeared for more than half a century. After the resurrection of the 21st century, it launched a classic legendary model, which was hand-built and designed uniquely, which seemed out of place among a group of super-runners who took pleasure in challenging the speed limit. Some time ago, Spyker exhibition hall of Spyker settled in Shanghai, and besides C8 Aileron, a new generation GT sports car of Spyker, there is also the spyker C8 Spyder collector’s edition that we actually shot today.

　　According to Spyker China, the current starting price of this model is about 3.8 million yuan, but usually the final price of the car owner after adding some personalized options is far more than that. The most difference between this model and the ordinary version of spyker C8 Spyder is the bright silver body. Since there happens to be a car in the shop, let’s show it to you through simple real shots. Of course, let’s review Spyker’s long history before entering the real shot.

More related links-

SPYKER Shanghai Exhibition Center officially settled in Xintiandi.
//www.autohome.com.cn/news/201106/211022.html

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■ Spyker History Review

　　In 1898, two Dutch carriage manufacturers, JACOBUS and HENDRIK-JAN)· SPIJKER, built their first car with an engine in Amsterdam. In the same year, in order to present the upcoming coronation ceremony of Wilhelmina, Beatrix Wilhelmina Armgard, Spijker made the famous golden ceremony carriage, which was also used in various celebrations in the Netherlands in the 21st century.

　　In order to better adapt to foreign markets, they changed the "ij" in the middle of Spijker to "Y" and changed the company name to SPYKER. Spyker’s first car was officially launched in 1900, equipped with twin-cylinder 3hp and 5hp engines provided by Ben Ci. In 1903, Spyker 60 HP, which was extremely advanced at that time, was introduced. This is the world’s first car with six engines, constant four-wheel drive and four-wheel brake.

In 1907, the legendary SPYKER 14/18 HP passed through Moscow in the "Beijing-Paris Rally".

　　Before the First World War, the demand for luxury cars in the world began to decline. Nevertheless, Spyker successfully participated in the Beijing-Paris Rally in 1907 with its 18hp model and won the second place.

SPYKER 60 HP in 1903, the world’s first six-cylinder four-wheel drive car.

Spyker IV is the first plane designed entirely by Spyker, which uses a quick engine.

　　In 1914, SPYKER merged with Dutch Aircraft Manufacturing Co., Ltd. and began to develop and produce aircraft. During the World War II, Spyker Company produced 100 fighter planes and 200 aero engines.

　　In 1915, Spyker put forward the slogan of "persistent, strong and unimpeded", which has been used ever since. At the same time, a new company logo was introduced, which is the spoke wheel that we are familiar with later.

　　In 1922, Spyker introduced the simplified model 13/30 C1, but the sales volume was disappointing and fell into the edge. Although it continued to produce and sell at a reduced price, its business still plummeted. Until all the funds were exhausted in 1926, its final products were C2 two-ton trucks and C4 cars. The early Spyker Company produced and manufactured more than 2,000 cars.

"Spyker factory after rebirth"

　　In 2000, 75 years after the original company disappeared, Spyker regained its vitality. The new Spyker Automobile Company was founded in 1999 by Dutch businessmen Victor Muller and Maarten de Bruijn. Since 2000, we have been specialized in producing high-end sports cars, such as C8 and C8 Laviolette.

　　In 2009, Spyker planned to buy cars from General Motors, and reached an acquisition agreement on January 26th, 2010. The combination of Spyker and Saab makes Spyker Automobile Co., Ltd. an automobile enterprise that participates in the global automobile industry competition, in addition to the brand essence of aviation technology inheritance and unique and bold design shared by the two brands.

■ Motor racing

　　On September 9th, 2006, Spyker bought the Midland F1 team from Russian businessman Alex Shnaider. Spyker paid $106 million to transform it into Spyker F1 team and participated in the last three races of the 2006 season. As part of the transaction, the original car changed its painting in the last three races to participate in the competition.

　　Spyker Team Spyker Team is a competition team directly under the factory, participating in competitions such as Le Mans 24 Hours, Le Mans Series, FIA GT Championship and Cyberling 12 Hours. Spyker also provides racing cars for Spyker dealers in Switzerland and participates in various automobile competitions under the name of Spyker.

■ Spyker in the movie

Instinct 2

Ranger

　　If you have seen the action movie "Ranger" starring Jet Li, you must remember the car of the killer with extraordinary skills-the convertible version of spyker C8 Spyder. There is also Instinct II, in which Sharon Si Tong’s sexy interpretation and the luxury and speed of super sports cars are unforgettable. Spyker adds a lot of color to the two films.

　

　

　

　　One Hundred Years of Solitude Penguin Edition

　　Not long ago, the topic of whether "Four Great Classical Novels" is suitable for teenagers’ reading triggered a social discussion. In fact, the discussion about famous books has a long history. A question that cannot be avoided in many discussions is: What kind of works can be called masterpieces? On this issue, this newspaper interviewed many experts.

　　The readership is relatively large.

　　I felt it when I was drinking: "till, raising my cup, I asked the bright moon, to bring me my shadow and make us three"; Being in a foreign land can’t help feeling: "lifting myself to look, I found that it was moonlight, sinking back again, I thought suddenly of home"; Even if you are not a literature lover, you may blurt out the classic dialogue in Shakespeare’s Hamlet, "To be or not to be, that is the question".

　　These works have become recognized masterpieces by virtue of their huge readership. Mortimer J. Ejdero, an American educator, pointed out in How to Read a Book that masterpieces have the largest number of readers, and masterpieces have accumulated a large number of readers by time.

　　Take "Four Great Classical Novels" as an example, they have a high degree of popularity and a large readership. According to a set of data recently released by China Edition Library, according to CIP statistics from 2013 to August 2016, the top 10 repeated publications are masterpieces. Among them, 525 were published in The Journey to the West, 492 in A Dream of Red Mansions, 485 in Water Margin and 484 in Romance of the Three Kingdoms.

　　Take Lu Yao’s novel "Ordinary World" as an example. According to the data of the publishing house, by September 2015, "Ordinary World" had sold at least 3 million sets.

　　Enlightening influence

　　"Whether a literary work can be called a masterpiece depends on whether it truly reflects social reality and social problems, and whether people can observe society and history from literary works and then think about it." Dang Shengyuan, secretary of the Party Committee of the Institute of Foreign Literature of China Academy of Social Sciences, told this newspaper that if a book is to become a masterpiece, it should be original and reach a certain ideological depth, thus inspiring readers to think.

　　Mortimer J. Ejdero also believes that masterpieces are the most influential, because they are the most enlightening and instructive, and contain unique insights, which are what predecessors have not said and what predecessors have not said.

　　One Hundred Years of Solitude by Colombian writer Garcí a Má rquez gives many inspirations in literary creation. Mo Yan, a China writer, admits that his literary creation was inspired by Marquez’s magical realism in Latin America. And Marquez himself admitted that his creation was also inspired by Kafka’s Metamorphosis.

　　Cheng Guangwei, a professor at the College of Literature of Renmin University of China, told this newspaper that literary masterpieces can be divided into literary classics and literary history classics; The former has a long artistic vitality, while the latter may be slightly less artistic, but it has great influence in the history of literature, especially in the historical turning point. For example, Liu Xinwu’s novel The Head Teacher, published in 1977, is the first of its kind and has great influence.

　　Of course, masterpieces don’t refer exclusively to literary works. Dang Shengyuan said that if other theoretical and research works want to become masterpieces, they should be able to promote the development of their disciplines with ideological and originality.

　　There is continuity in time

　　"Although different readers and readers in different periods have different criteria for judging masterpieces, masterpieces should have something in common. Mo Yan’s works and Jia Pingwa’s works are still being studied. After twenty or thirty years, these works are still not out of date. " Cheng Guangwei said.

　　Famous works often have continuity in time, and many works have been circulated for decades, hundreds or even thousands of years.

　　The Art of War was written about 2,500 years ago. Zhong Shaoyi, a researcher at the Academy of Military Sciences, believes that some basic orientations of Sun Tzu’s strategic thinking, such as "emphasizing fundamentals", "being prepared for everything" and "striving for total victory", are of reference value for properly coping with the long-term complex situation of national security. Bernabe, president of Italian Eni Company, commented on Sun Tzu’s Art of War, saying that it is a comprehensive textbook on strategy and can still be applied to various human activities today.

　　　　Dang Shengyuan said that the development process of a discipline and a research field is composed of one masterpiece and one masterpiece. China’s literary history of thousands of years is so rich and splendid because there are high-level masterpieces in every stage and era. "Although the achievements of masterpieces in art and thought belong to its birth period, masterpieces may also transcend history and time and space, and can still give people new inspiration and be continuously interpreted after thousands of years of birth. The bestseller is different, and it is likely to disappear after a while. "

　　When it comes to bestsellers, Dang Shengyuan thinks that there are differences between bestsellers and masterpieces in terms of whether the readers are broad or not. Dang Shengyuan said that bestsellers can accumulate a lot of readers in a period of time, while masterpieces are likely not to sell well in a certain period of time.

　　Ejdero also mentioned this point in How to Read a Book. He believed that readers of famous books gathered through time, not for a while, and that famous books were not bestsellers within a year or two, but enduring.

　　Dang Shengyuan believes that, unlike bestsellers, masterpieces may not be paid attention to during their birth, and it will take some time for them to be rediscovered and interpreted. Tao Yuanming’s landscape poems in the Eastern Jin Dynasty were rediscovered only after the rise of landscape poems by Wang Wei and Meng Haoran in the Tang Dynasty. (Li Zeyan Pan Xutao)

Notice on Promoting National Sign Language and National Braille

All provinces, autonomous regions and municipalities directly under the Central Government Party Committee Propaganda Department, Disabled Persons’ Federation, Education Department (Education Committee), Language Committee, Radio and Television Bureau, Xinjiang Production and Construction Corps Party Committee Propaganda Department, Disabled Persons’ Federation, Education Bureau, Radio and Television Bureau:

Sign language and Braille are special languages used by more than 30 million people with hearing and vision disabilities in China. Since the founding of New China, the country has carried out a series of standardization work of sign language and Braille, with remarkable results. In the new era, with the implementation of the National Sign Language and Braille Standardization Action Plan (2015-2020) and the establishment of the National Sign Language and Braille Research Center, two major topics, the National Standard for Common Sign Language and the National Standard for Common Braille, passed the review in 2015. After more than two years of trial and improvement, the research results, the National Glossary of Common Sign Language and the National Scheme for Common Braille, were recently standardized by the National Language Committee.

In order to promote the national common sign language and the national common Braille, the Central Propaganda Department, the China Disabled Persons’ Federation, the Ministry of Education, the State Language Commission and the State Administration of Radio and Television have formulated the National Common Sign Language Promotion Scheme and the National Common Braille Promotion Scheme, which are hereby printed and distributed to you, and put forward the following requirements for the promotion.

First, raise awareness, unify thoughts, and enhance the sense of responsibility and mission of promoting national common sign language and national common Braille.

National common sign language and national common Braille are important supplements to national common language. As citizens of China, people with hearing and vision disabilities have the right to use national sign language and national Braille. Popularizing national common sign language and national common Braille is a concrete measure to implement the "people-centered" proposed by the 19th National Congress of the Communist Party of China, which not only protects the right of hearing and vision disabled people to use spoken and written languages, but also plays an important role in learning cultural knowledge, obtaining information, social interaction, participating in social life more fairly, realizing rights and interests equally and integrating development.

All localities should take the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era as a guide, thoroughly implement the spirit of the 19th National Congress of the Communist Party of China, strengthen the "four self-confidences", conscientiously implement the important instructions of the Supreme Leader’s General Secretary "Building a well-off society in an all-round way, leaving no one without a disability" and "running special education well", fully understand the significance of popularizing national common sign language and national common Braille, enhance the sense of responsibility and mission, and improve the promotion consciousness and initiative.

Two, clear responsibilities, work together to form a joint force to promote the national common sign language and the national common Braille.

All localities should establish organizations to promote the national common sign language and the national common Braille, strengthen the organization and coordination of the promotion work, decide major issues through consultation, collectively resolve the handling of major issues, and jointly carry out supervision and inspection of the promotion work. At the same time of close cooperation, relevant departments and organizations of the Disabled Persons’ Federation should perform their respective duties.

Disabled Persons’ Federation system, including deaf associations and blind associations, should shoulder the responsibility and take the lead in organizing and coordinating the promotion of national common sign language and national common Braille; Clear departments and personnel responsible for ensuring the investment of funds; Do a good job in training hearing and vision disabled people who use sign language and Braille in society; Relying on professional institutions, we will train professionals in the field of public service and strive to create a barrier-free communication environment for the disabled.

Language and writing departments should effectively take sign language and Braille work as an important part of language and writing work, incorporate it into planning and unified deployment, strengthen business guidance and technical support, and give necessary financial support if conditions permit.

The education department should arrange for teachers and students with hearing and visual disabilities to learn the national common sign language and the national common Braille, and encourage schools at all levels to explore scientific teaching methods to ensure a smooth transition and transformation.

The administrative departments of press, publication, radio and television should widely publicize the national sign language and the national Braille in various forms, increase the training of sign language translation of TV programs, incorporate the reading promotion of the national Braille into the reading activities of the whole people, and take effective measures to implement the requirements of using the national sign language and the national Braille in national official activities, television and online media, public services and information processing.

Three, combined with the actual situation, make a plan to ensure the realization of the promotion task.

The National Universal Sign Language Promotion Program and the National Universal Braille Promotion Program define the mission objectives, implementation steps, main measures and guarantee conditions for promoting the use of national universal sign language and national universal Braille by 2020. China has a vast territory and complex dialects, and the level of economic development and educational development vary from place to place. It is necessary to formulate a road map and timetable for popularization with local characteristics, taking into account the actual situation, the number and distribution of hearing and vision disabled people, the status and distribution of educational resources, dialect characteristics, economic strength and other factors, so as to ensure the completion of the phased task of popularizing national common sign language and national common Braille by 2020.

Central Propaganda Department China Disabled Persons’ Federation Ministry of Education
State Language Committee State Administration of Radio and Television
June 18, 2018

National universal sign language promotion program

This promotion plan is formulated in accordance with the 13th Five-Year Development Plan of the National Language and Character Undertaking and the National Action Plan for Standardization of Sign Language and Braille (2015-2020).

I. Mission objectives

By 2020, the social awareness of the national common sign language will be improved, and the atmosphere of using the national common sign language in national official activities, school education, television and online media, book publishing, public services and information processing will be initially formed; Basically complete the national common sign language training for relevant personnel in special education schools, key personnel in organizations of disabled persons’ federations at all levels and deaf associations, and the backbone team proficient in and using national common sign language has begun to take shape; The national universal sign language system is more perfect, and the information service ability is further improved; Establish a national sign language level assessment mechanism.

Second, the main measures

(a) training first, and strive to build a backbone team proficient in the national common sign language.

1. Relying on the National Sign Language and Braille Research Center, China Braille Sign Language Promotion Service Center, China Association for the Deaf and some professional institutions, we will hold national key training courses on sign language for special education teachers in special education colleges and universities, sign language column hosts of TV stations at or above the prefecture level, and cast members of China Disabled People’s Art Troupe.

2. Special education institutions will take the national common sign language as the content and post requirements of teachers’ on-the-job training, and include it in continuing education credits and annual assessment, and strive to achieve full-time rotation training by 2020. Full-time teachers in special education colleges should master at least 5,000 common sign language words, and managers who directly serve students with hearing disabilities should master at least 3,000 common sign language words, and understand the characteristics of sign language, paying attention to expressing according to its characteristics.

3. Deaf associations at all levels are responsible for conducting national general sign language training for hearing-impaired people who use sign language as the main means of communication in society. In 2018, major cities in China will basically use the national common sign language, and in 2019, it will cover prefecture-level cities. In 2020, the national common sign language will be basically used in cities and towns above the county level.

4. Disabled Persons’ Federation at or above the county level should carry out national common sign language training, encourage disabled persons’ Federation staff to understand, learn and use national common sign language, and the staff who directly serve the hearing disabled should correctly master not less than 3,000 national common sign language words, and understand their own characteristics, and pay attention to expressing them according to their characteristics. By 2020, we will strive to equip disabled persons’ federations at all levels with at least one certified part-time sign language interpreter.

5. Encourage and support local special education institutions and deaf associations to carry out national common sign language training for employees in public service fields such as justice, medical care, transportation, banking, commerce, tourism and urban management.

(2) Highlight key points and strengthen the ability of key personnel in key areas to use the national common sign language.

1 to recruit students with hearing disabilities in special education schools and conditional ordinary schools (including kindergartens, ordinary primary and secondary schools, secondary vocational schools) to use the national common sign language in education and teaching activities. Since 2018, the new textbooks for deaf schools in compulsory education have used the national common sign language. In class teams, school meetings and other activities, the national common sign language is used in combination with the content of education and teaching, and school-based courses in sign language are encouraged to teach the national common sign language. By 2020, students with hearing disabilities of all grades can correctly understand and skillfully use 500-2,000 national sign language words.

2. From 2019, the national common sign language will be gradually used in the sign language columns of CCTV, provincial TV stations, simultaneous sign language interpretation of major events of the party and the state, and publications. From 2020, the national common sign language will be gradually used in the sign language column of municipal TV stations and the sign language simultaneous interpretation of local official activities.

3. Gradually establish sign language translation training and certification system. Complete the development of national common sign language level standard (Trial) and sign language translation level standard (Trial), test outline, question bank and other specifications; Relying on professional institutions and the China Deaf Association, the National General Sign Language Examination Committee was established, and 2-3 provinces were selected to carry out the pilot of the National General Sign Language Examination, so as to explore the unified industry management of the National General Sign Language Examination and qualification certification.

(three) extensive publicity, improve the social attention of the national common sign language.

1. Publish news about the national common sign language on official and institutional websites such as relevant state departments, China Disabled Persons’ Federation and its local organizations, China Deaf Association, National Sign Language and Braille Research Center, China Braille Sign Language Promotion Service Center, Huaxia Publishing House, etc., and widely publicize the national common sign language through expert interpretation, in-depth media coverage and other forms, attracting social attention.

2. In 2018, the National Dictionary of Common Sign Language was published on the basis of the National Glossary of Common Sign Language, and some minority language versions of the National Dictionary of Common Sign Language and other dictionaries, teaching materials, learning and other series of books were successively translated and published.

3. Organize the national general sign language column program on China Education Television. Compile and publish national sign language posters and teaching wall charts. Use important time nodes such as "National Day for the Disabled", "International Sign Language Day", "International Day for the Deaf" and "International Day for the Disabled" to hold various and popular national sign language promotion activities. Organize the National General Sign Language Skills Competition in due course.

4 to encourage the establishment of a public welfare national common sign language learning platform, research and development of national common sign language information products. Encourage the use of artificial intelligence, speech recognition, sign language recognition and other advanced technologies to study various national common sign language information products.

Third, the guarantee conditions

(1) Strengthen organizational leadership. Provinces (autonomous regions and municipalities) shall establish a leading group for the promotion of national common sign language, led by the Disabled Persons’ Federation and attended by education, language committee, press and publication, radio and television departments, with a clear division of labor, close cooperation, strengthened coordination, formulated an implementation plan for the promotion of national common sign language in the province (autonomous regions and municipalities), and regularly studied and solved major problems to ensure the orderly development of the promotion work. Special attention should be paid to giving play to the role of deaf associations and actively absorbing them to participate in training and promotion activities. The provinces that have carried out the pilot project of national common sign language should play the leading role of the pilot unit, sum up the experience of promoting the pilot, lead the promotion work in the whole province, and improve the promotion quality.

(2) make overall arrangements for funds. Disabled persons’ federations at all levels shall, in accordance with the requirements of the National Action Plan for Standardization of Sign Language and Braille (2015-2020), take the initiative to coordinate the financial departments, and include the funds needed to promote the national common sign language in the budget to ensure investment. National textbook publishing funds, national publishing funds, TV station business funds, etc. should be included in the promotion of national common sign language and be tilted. All localities should focus on subsidizing the purchase of national general sign language school supplies by poor hearing disabled people. Conditional places can establish and implement the national universal sign language translation service subsidy system.

(three) into the scope of supervision. All localities should incorporate the promotion and use of national common sign language into the education supervision, language work supervision and evaluation, barrier-free environment construction supervision and inspection of governments at all levels, and carry out special supervision when necessary. It is necessary to report the results of supervision and inspection, sum up successful experiences, and find and solve problems in time.

National General Braille Promotion Program

This promotion plan is formulated in accordance with the 13th Five-Year Development Plan of the National Language and Character Undertaking and the National Action Plan for Standardization of Sign Language and Braille (2015-2020).

I. Mission objectives

By 2020, the social awareness of the national common Braille will be improved, the backbone team skilled in mastering and using the national common Braille will take shape, the information service ability will be improved, the national common Braille level assessment mechanism will be established, and the national examination papers will be printed in the national common Braille, thus forming an atmosphere of using the national common Braille in national official activities, school education, book publishing, public services and information processing.

Second, the implementation steps

(1) Students with visual disabilities who use Braille at school.

1. From the fall semester of 2018, the first-year primary school students began to use the textbooks printed in the national common Braille (the standard version of each word), and the second-year primary school students began to use the textbooks printed in the national common Braille and supporting extracurricular reading materials (including provincial and simplified versions). The third to sixth grades and junior high school grades will change the national general Braille version simultaneously with the new curriculum standard textbooks for blind schools. Students in other grades continue to use the original textbooks.

2. Starting from the spring semester of 2019, in the spring semester of each academic year, students with visual disabilities who graduated from junior high schools, senior high schools (including ordinary senior high schools, adult senior high schools and secondary vocational schools, the same below) and colleges and universities will receive no less than 8 class hours of national general Braille training until the transition of students at school is completed.

3. Starting from the fall semester of 2019, freshmen majoring in rehabilitation and health care of traditional Chinese medicine in secondary vocational schools began to use textbooks and supporting extracurricular reading materials (including provincial and abbreviated versions) printed by the national general Braille, and students of other majors and grades continued to use the original textbooks.

4. From the fall semester of 2020, freshmen in ordinary high schools and universities (including graduate students) began to use textbooks printed in Braille and supporting extracurricular reading materials (including provincial and simplified versions). Students in other grades continue to use the original textbooks.

Students who have already used the national common Braille textbooks will be promoted to senior grades and replaced with the national common Braille textbooks.

(2) Visually disabled people who use Braille in society.

From 2018, focusing on young people under 50 years old, we will carry out national general Braille training for visually disabled people in society. By 2020, all localities will complete the backbone training of social vision disabled people at the provincial, city and county levels, and carry out a certain range of universal training.

(3) Special education normal students.

From the fall semester of 2018, the Braille courses for special education teachers will be gradually converted into national general Braille, which will be completed in 2020. Beginning in the spring semester of 2019, graduates will receive no less than 16 hours of national general Braille training before leaving school, until the transition of students in school is completed.

(four) the publication of teaching AIDS, extracurricular reading materials and social reading materials.

From the second half of 2018, the national general braille books will be gradually published. The proportion of new books published in 2018 is 10%, the proportion of new books published in 2019 is 30%, and the proportion of new books published in 2020 is 60%.

(5) Official activities and examinations.

From 2019 onwards, when people with visual disabilities participate in major activities of the party, the state and local governments, they will provide written materials in national Braille.

From 2020 onwards, the national general Braille system will be gradually used in qualified national examinations (excluding abbreviations), and candidates’ answer sheets will not be required for the time being.

Third, the main measures

(1) Building a backbone team. Professional institutions such as China Association for the Blind, China Braille Publishing House, China Braille Library, Beijing Union University College of Special Education, etc., hold national general Braille backbone training courses for special education institutions, ordinary schools where students with visual disabilities attend classes, Braille publishing units, blind associations and units where people with visual disabilities are concentrated in employment. The number of backbone teams is not less than 800.

(2) Strengthen the training of special education teachers. Special education institutions that recruit students with visual disabilities should take the national Braille as the content and job requirements of teachers’ on-the-job training, and include it in continuing education credits and annual assessment. From 2018, it is necessary to train teachers of grades and disciplines who use the national Braille textbooks, and in 2020, all staff will be trained in rotation.

(3) Smooth learning channels and enrich learning forms. Compile and publish national general Braille posters and teaching atlases, and record the audio and video of the training and teaching of the National General Braille Program. In the blind monthly, blind children’s literature and other Braille publications, the national general Braille training lectures were held, and the relevant columns were selected to gradually switch to the national general Braille. In 2020, the National General Braille Knowledge and Skills Competition will be held.

(D) Build an online learning platform. Widely mobilize social forces, research and develop national general-purpose Braille information products, and incorporate them into the digital reading promotion project for the blind. By 2020, the national universal Braille network service platform and a variety of electronic information products will be gradually realized to serve the majority of visually disabled people.

(five) the establishment of a national general Braille level assessment mechanism. In 2019, we will complete the development of the national general Braille level standard (for trial implementation), test outline and test question bank, establish the national general Braille examination committee based on professional institutions and China Blind Association, and select some provinces to carry out the national general Braille level examination pilot work in 2020.

Fourth, the guarantee conditions

(1) Strengthen organizational leadership. Provinces (autonomous regions and municipalities) shall establish a national leading group for the promotion of universal Braille, led by the Disabled Persons’ Federation and attended by education, language committee, press and publication, radio and television departments, with a clear division of labor, close cooperation, strengthened coordination, formulated an implementation plan for the promotion of national universal Braille in the province (autonomous regions and municipalities), and regularly studied and solved major problems to ensure the orderly development of the promotion work. Special attention should be paid to giving play to the role of blind associations and actively absorbing them to participate in training and promotion activities. The provinces that have carried out the national general Braille pilot should give full play to the leading role of the pilot units, sum up the experience of promoting the pilot, lead the province’s promotion work, and improve the quality of promotion.

(2) make overall arrangements for funds. Disabled persons’ federations at all levels shall, in accordance with the requirements of the National Action Plan for Standardization of Sign Language and Braille (2015-2020), take the initiative to coordinate the financial departments, and include the funds needed to promote the national Braille into the budget to ensure the investment. National textbook publishing funds and national publishing funds should include the publication and promotion of national general braille books and give them a tilt. All localities should focus on subsidizing the purchase of national general braille school supplies by poor visually impaired people.

(3) Providing Braille teaching materials and reading materials in a timely manner. Shanghai Boai Braille Printing Co., Ltd. is responsible for printing Braille textbooks for compulsory education. China Braille Publishing House is responsible for publishing extracurricular reading materials, high school (including technical secondary school) and college teaching materials and social reading materials.

(four) into the scope of supervision. All localities should incorporate the promotion and use of the national Braille into the education supervision, language and writing work supervision and evaluation, and barrier-free environment construction supervision and inspection of governments at all levels, and carry out special supervision when necessary. It is necessary to report the results of supervision and inspection, sum up successful experiences, and find and solve problems in time.

　　On the afternoon of September 29th, the State Council Joint Prevention and Control Mechanism held a press conference to introduce the situation of epidemic prevention and control during the National Day and answer questions from the media.

　　Lei Zheng Long, director of the Department of Communication and Prevention of the National Bureau for Disease Control and Prevention, said that since the outbreak of COVID-19, we have always adhered to the principle of "people first, life first", guiding all localities to conscientiously implement the requirements of relevant prevention and control policies and measures, do a good job in accurate prevention and control, strengthen the prevention of safety risks, and earnestly safeguard the life safety and health of the broad masses of the people.

　　One is in nucleic acid detection. All localities are required to reasonably organize and arrange nucleic acid inspection for the masses to avoid gathering and chatting. When people take part in nucleic acid testing, they should pay attention to personal protection, keep a straight line, wear masks and do good hand hygiene. All localities should also make reasonable arrangements for sample transfer vehicles, which should not be used for other purposes during the transfer task.

　　The second is in the process of flow adjustment and transshipment. It is required that all localities should strengthen on-site face-to-face flow adjustment, and the flow adjustment personnel should also do personal protection, and scientifically and accurately determine the risk personnel such as close contacts, close contacts, and exposed personnel in epidemic-related places. Make overall arrangements for the deployment of transshipment, formulate a transshipment plan in combination with local actual conditions, reasonably arrange transshipment tasks and transshipment time, strengthen the daily inspection and safety maintenance of transshipment vehicles, improve the safety awareness of drivers and passengers, put an end to drivers’ fatigue driving and ensure transshipment safety.

　　The third is in the centralized isolation link. The infrastructure of centralized isolation places should meet the current national standards for building safety, fire safety, earthquake prevention and disaster prevention, strictly regulate the management of isolation points, and prevent cross-infection. For special people who are not suitable for centralized isolation after evaluation, measures of home isolation can be taken. For those who are not suitable for single room isolation, appropriate personnel should be appointed to accompany them.When centralized or home isolation measures are taken, it is not allowed to lock the door outside.

　　The fourth is the supply of living materials, medical care and other links. After the outbreak, all localities should scientifically and accurately define the risk areas and make dynamic adjustments, strictly implement management requirements according to regulations, and make clear that special personnel teams are responsible for the supply of basic living materials for residents, especially to prevent food safety incidents. It is necessary to designate specialized medical institutions to provide medical services for residents in high-and medium-risk areas and provide medical convenience for special people.

According to Cailian News, with the continuous injection of artificial intelligence by various capitals, the supply of high-bandwidth memory (HBM) is in short supply, and global technology giants including NVIDIA, AMD, Microsoft and Amazon are all bidding for the fifth-generation high-bandwidth memory HBM3E of SK Hynix. Recently, HBM’s "rescue" memory chip giant reported that the loss of DS department where Samsung’s electronic storage business is located narrowed in the second quarter, and SK Hynix’s sales in the second quarter exceeded analysts’ expectations. The company said that the expansion of the generative AI market has rapidly pushed up the demand for AI server memory, so the sales of high-end products such as HBM3 and DDR5 increased. Judging from the performance of the secondary market, A-share listed companies with the concept of HBM have also taken advantage of the wind. The stock prices of HBM epoxy plastic packaging supplier Huahai Chengke, HBM agent Shannon Xinchuang and HBM substrate supplier Zhongfu Circuit have increased by 157%, 158% and 136% respectively since May.

Micron Technology has previously stated that the capacity requirements for DRAM and NAND of AI servers are 8 times and 3 times that of conventional servers, respectively. Memory chips can be divided into volatile memory chips and nonvolatile memory chips according to whether data is lost after power failure. DRAM is the most common volatile memory chip, and NAND flash memory chip and NOR flash memory chip are the most common nonvolatile memory chips. According to WSTS statistics, in the memory chip market in 2021, DRAM accounts for 61%, NAND Flash accounts for 36%, and other memory chips account for only 3%.

Oriental fortune securities’s February research report pointed out that DRAM’s market head enterprises are Samsung, SK Hynix, Micron, etc., and Chinese mainland’s representative enterprises include Changxin Storage and Fujian Jinhua. The market head enterprises of NAND Flash are Samsung, Chivalrous, Western Digital, etc., and the representative enterprises of Chinese mainland are mainly Changjiang Storage; NOR Flash’s market head enterprises are Winbond, Wanghong, Zhaoyi Innovation, etc., and Chinese mainland’s representative enterprises are mainly Zhaoyi Innovation.

▌ SK Hynix, Samsung and Micron, the three leading global memory chips, pointed out that the price, supply and demand and space end blew the horn of industry recovery.

HBM is a DRAM product with the fastest data processing speed. It is a DRAM memory chip based on 3D stacking technology. After stacking multiple DDR chips, it is packaged with GPU, which can achieve higher bandwidth, higher bit width, lower power consumption and smaller size. The latest financial report shows that the performance of SK Hynix, Samsung and Micron, the three leading memory chip DRAM, began to rebound. Samsung Electronics 23Q2′ s revenue declined due to the decline in smartphone shipments, but its storage business improved compared with the previous quarter. The official said that it was mainly due to the company’s focus on HBM and DDR5 products; SK Hynix’s sales in the quarter ended June 30 were 7.31 trillion won (about 5.7 billion US dollars), down 47% year-on-year, but exceeding analysts’ expectations of 6.05 trillion won. Although HBM’s revenue in SK Hynix currently accounts for less than 1%, this proportion is expected to rise to 10% this year; Meguiar’s 23Q2 performance rebounded after three consecutive quarters of decline. In addition, the monthly performance of the original factory in Taiwan, China also improved continuously month on month.

The research report released by Pan Chang, TF Securities on July 17th pointed out that recently, the favorable turning point of memory chips has been frequently reported, and the horn of recovery seems to be in our ears. From the perspective of historical cycle, the cycle of the storage industry is about 3-4 years. This cycle starts from 2020Q1, and the price peaks in stages in 2022Q1. At present, the price has been reduced for six consecutive quarters, and it is in the bottoming stage of the cycle.

In terms of price, since Q2 this year, a number of suppliers have issued bottoming signals. First, Samsung and Micron issued a notice to dealers, no longer taking orders from DRAM and NANDFlash at low prices, and refused to accept quotations lower than those in April. In May, it was reported that Samsung Electronics and SK Hynix were considering raising their quotations after the original flash memory of Changjiang Storage officially started to increase its price by 3-5%. In late June, only Samsung was willing to conduct cSSD (Consumer Solid-State Disk) transactions in advance, and the dealers hoped that the suppliers would make concessions, but they were all rejected.

Pan Wei pointed out that on the demand side of supply, Micron announced in June that it expected to reduce production to 2024. Earlier, in 2022Q4, the original factories drastically cut their capital expenditures. If the normal production cycle is 3-4 months, the effect of supply contraction and production reduction will be accelerated in Q2 and Q3. South Asia Branch said that the company had urgent orders in some application fields. Recently, Winbond’s demand for three major applications, such as consumer electronics, television and Internet of Things, has warmed up, and industrial control-related orders have continued to be hot, and customers have rushed in, and there are also a lot of them.

In addition, on the space side, in the short term, the scale of memory chips will increase quarter by quarter, and in the long term, the storage demand under the catalysis of AI is expected to increase several times. On the geopolitical side, overseas manufacturers gradually withdrew from the niche market, and Meguiar’s incident accelerated local substitution.

▌ The memory chip will be reversed or "late" at the bottom. In the two quarters, the organization expects DRAM or NAND Flash to recover the cross-border layout of many A-share listed companies faster.

It is worth noting that at present, the memory chip industry seems to be confirming that it is about to bottom out, but the share price of 76 billion A-share leader Zhaoyi Innovation is "still calm". In fact, the impending reversal has even been "late". Recently, Yole Intelligence, a market research organization, updated a monitoring data report of the memory chip market. In Yole’s original forecast, the global memory chip market will start to recover in the second quarter of 2023, but its latest report points out that there is no need to hold too much hope for the memory chip market in the third quarter of 2023, and it is optimistic that the market will start to pick up in the fourth quarter of this year.

However, Yole is not the only one who predicts that the storage market will recover in the coming fourth quarter. According to Taiwan Province Economic Daily and Science and Technology News, citing the latest report issued by the American market research organization, Micron, Western Digital and other memory chip suppliers think that the product prices have fallen to the bottom, and began to cancel the mode of bulk trading at discounted prices in advance, and even began to raise prices. The survey agency predicts that the decline rate of memory chip prices will narrow from Q3, and the contract prices of some products are likely to rise from Q4. The situation of different product lines is different, and it is expected to fully recover next year.

Judging from the market news, the recovery of DRAM may be faster than that of NAND Flash. TrendForce Jibang Consulting recently estimated that the average price of NAND Flash in the third quarter continued to drop by about 3%-8%, and it is expected to stop falling and rebound in the fourth quarter, and the average price decline of DRAM in the third quarter will converge to 0-5%. The article "The Cold Wind of Memory Chips, Will Stop" published by the semiconductor industry on July 25th pointed out that DRAM bottomed out in the third quarter and NAND waited for another season. Earlier, some people in the industrial chain said that Samsung, SK Hynix and Micron all hoped to raise the contract price of DRAM orders in the third quarter, with a target increase of 7%-8%. However, because the terminal market has not seen obvious signs of recovery, there are obvious signs of seesaw in the upstream and downstream. In terms of NAND, recently, the market also heard that the original upstream NAND factory plans to raise the price from July.

In addition, according to the information of the Internet Office in May, Micron, which occupies a lot of land in China storage market, failed to pass the network security review. Ping An Securities Research Report pointed out that in 2022, Micron’s operating income in Chinese mainland was $3.311 billion. Analysts pointed out that if Micron’s business in China is limited, the niche storage market will naturally benefit first. In the niche storage field with relatively low technical barriers, Zhaoyi Innovation is the fastest growing and strongest company. In addition, Beijing Junzheng, the leader in vehicle storage, and Dongxin, the leader in domestic SLC NAND field, are expected to benefit. In the downstream storage module industry, Jumbo Long and Baiwei Storage also have strong competitiveness in the global market, among which Jumbo Long’s eMMC and UFS products have a global market share of 6.5%, ranking sixth in the world and first in China; The global market share of eMMC and UFS stored by Baiwei is 2.4%, ranking eighth in the world and second in China. The main suppliers of these two companies include Micron.

Analysts pointed out that although the inventory pressure downstream of memory chips is still there, the bottom is just around the corner through the dynamics of major manufacturers and industry analysis data. In order to catch up with the next wave of boom cycle after the turning point of the industry, Wanrun Technology, Liyuan Information, Shannon Core and Guoxin Technology and many other manufacturers have cross-border layouts. However, analysts also pointed out that even if the existing domestic storage companies, such as Zhaoyi Innovation, Beijing Junzheng, Eastcore and Puyan, are counted, most of the domestic storage products are at the SSD module and NOR Flash level, and it is difficult to touch the high-end DRAM and other markets vigorously promoted by international manufacturers, which makes it difficult for domestic storage manufacturers to enjoy the dividend in the incremental market and need to follow the trend in the supply and demand of the storage market.

Original title: Memory chips arrive late in spring? AI ignites demand for HBM to "rescue" the financial reports of giants such as Hynix and Samsung. Can A shares fully blow the "counterattack assembly number"

Editor: Lareina C

Editor: Wu Zhonglan

Audit: Feng Fei

　　CCTV News:On August 6, US sanctions against Iran came into effect again. Bloomberg pointed out that under this round of sanctions, Iran’s economy is close to the brink of crisis. The Iranian currency Rial has been falling all the way, and domestic grievances have accumulated. In recent days, people’s demonstrations broke out in the streets of Tehran, Isfahan, Hamadan and other cities in Iran.

　　Iranian young people satirize the current domestic problems in Iran on social media. The Iranian youth showed that the Iranian currency Rial with a denomination of 10,000 was rapidly shrinking. In the shadow of sanctions, the Iranian currency Rial plummeted. People have expressed their dissatisfaction.

　　Iranian peoplePeople have the right to protest that economic and social problems are all related, and how much more can we bear when people are under great pressure.

　　Iranian protestersLet’s build our country with our hands. Don’t be afraid, as long as we unite with domestic and foreign forces.

　　Rouhani’s government is under unprecedented pressure, and Rouhani himself is constantly being questioned by the Iranian parliament. Qatar Al Jazeera commented that the United States hopes that Iran will achieve regime change through civil strife.

　　US Secretary of State PompeoIt’s time for the Iranian regime to look in the mirror. The Iranian people urgently need economic, political and social changes.

　　According to the British "Guardian" report, the United States has close contacts with Iranian opposition organizations in exile. Rajavi, leader of the exiled Iranian opposition "People’s Mujahideen Organization of Iran" (MEK). She advocates regime change in Iran. It is reported that US national security adviser Bolton met with Rajavi in Paris in 2017 and said that the United States supports regime change in Iran and hopes to reunite with the organization in 2019. Some media have linked this time of the ultimate sanctions to be introduced by the United States in November with the date of 2019.

　　The Guardian noted that the Iranian People’s Mujahideen Organization has long been listed as a terrorist organization by Iran, the United States, Canada and the European Union. According to the statistics of the US Department of Justice, since the Iranian revolution in 1979, terrorist attacks in MEK have caused at least 10,000 civilian deaths. On August 7th, Iranian President Rouhani responded.

　　Iranian President RouhaniI think if we can unite as one, we can make Americans regret it soon. If we can successfully cooperate well with other countries in the world, Americans will realize that their sanctions are ineffective and will come back sooner. "

　　In response to people’s demands, the Rouhani administration arrested the deputy governor of the Iranian central bank in charge of foreign exchange, and stopped buying non-essential goods to reduce the consumption of foreign exchange.

　　Facing the most influential oil trade, the Rouhani administration lifted the state monopoly on oil trade and allowed private channels to buy and sell oil, because the US sanctions mainly targeted Iranian government agencies and officials.

　　In the transactions with Turkey, India and some African countries, the US settlement is circumvented by barter or local currency settlement. Iranian businessmen also evade sanctions by purchasing overseas nationality and registering companies overseas. The external pressure from the United States has also made many political elites and people vigilant.

　　Tehran citizen AryanTrust in America will lead to nothing but failure. We must rely on our own strength.

　　It’s been a week since June 18, and when the June 18 war resumed, Juhua, which was fully restarted in March this year, became the biggest dark horse that suddenly emerged. The data shows that during the Tmall 618 period, the cost-effective year-on-year transaction growth reached 86.5%, and the year-on-year order growth was 106%.

　　According to Alibaba, poly-cost-effective led to one-third of Tmall 618 transactions. According to the special report released by the authoritative Internet information service provider Analysys International on June 20th, Tmall’s market share during the promotion period was more than twice that of JD.COM and Pinduoduo combined, and one company accounted for nearly two-thirds of the total market share.

　　Source: Analysys

　　The above picture shows the GMV comparison among different platforms very intuitively. The GMV of Taobao Tmall is 100, while that of JD.COM and Pinduoduo is 32.7 and 9.9 respectively. Poly-cost-effective leads to one-third of the transactions, which means that its index of leading transactions reaches 33, which is higher than that of JD.COM and Pinduoduo. More directly, a single gathering is cost-effective, and the turnover during Tmall 618 exceeded three Pinduoduo. In this year’s 618 War, the pattern of the sinking market has been rewritten. As an amoy department, Juhua rushed into the sinking market and gained a lot of advantages in the sinking market.

　　On June 25th, Alibaba "officially announced" the overall growth of Tmall 618. Jiang Fan, president of Tmall, revealed at the launch conference of Tmall flagship store version 2.0 that the physical GMV of Tmall 618 increased by 38.5% year-on-year, and the DAU (daily active user) of mobile phone Taobao also increased by 29% year-on-year during Tmall 618.

　　Caption: Jiang Fan, president of Tmall, was at the launch of version 2.0 of Tmall flagship store.

　　JD.COM did not disclose GMV figures, but the so-called "order amount". According to the figures published by JD.COM, the year-on-year growth of the order amount is only 26.5%, which is 12 percentage points lower than that of Tmall. As the largest e-commerce platform in the whole network, the growth rate of Tmall is also significantly ahead of competitors such as JD.COM. The ultra-high-speed growth of poly-cost-effective has further consolidated the dominant position of Amoy in the whole market.

　　The cost-effective "revival" has also injected important traffic growth into mobile phone Taobao. The year-on-year growth rate of DAU of Hand Amoy is 29%, which is the highest since 2017. It also shows that it is cost-effective to tap the incremental population mainly based on the following heavy market users. Data from traffic monitoring third-party organizations such as Aurora Big Data and Questmobile all show that during the period of 618, the number of DAU (Daily Active Users) of mobile phone Taobao was in an absolute leading position, far exceeding other competitors.

　　Win the sinking market

　　A prominent feature of 618 this year is that "sinking market" has become a battleground for military strategists. In March this year, the comprehensive and cost-effective restart profoundly changed the war situation of 618 this year. Jiang Fan revealed a figure that 49% of Tmall 618′ s purchase users came from the 4 th, 5 th and 6 th tier cities.

　　The research of Aurora Big Data shows that although the penetration rate of mobile phone Taobao in third-tier and below cities is slightly lower than that in first-and second-tier cities, it is still as high as 54.8%, which is significantly higher than that in Pinduoduo (39.5%) and JD.COM (22.3%). It is the only mainstream e-commerce software with a penetration rate of over 50% in third-tier and below cities. The DAU index of Taobao’s sinking market in the third line and below is more than twice that of Pinduoduo.

　　In fact, before the start of Tmall 618, Alibaba began to deploy troops to strengthen the cost-effectiveness. Although Juhua was once an independent business unit of Amoy Department, it was merged into Tmall at the end of 2016. At the beginning of this year, Juhua became independent from Tmall and became a unified marketing platform for Taobao and Tmall, namely the marketing platform business unit. It is also known as Daju Cost-effective business unit.

　　The new big gathering cost-effective covers the core marketing tools of Taobao, such as gathering cost-effective, rushing to buy, selling every day, etc. These business lines occupy almost half of the "half of the country" in the new edition of the hand-scouring six squares.

　　Amoy is one of the most important goals of this year’s 618 strategy, which is to maximize the enthusiasm of users in the sinking market. Alibaba’s "618" this year is "the biggest investment in history" comparable to double 11’s, and the breakthrough has chosen to gather cost-effectiveness. The biggest game of "Ten Million Explosive Groups" is to maximize the marketing explosive power of the poly-cost-effective sale model.

　　According to Alibaba, during Tmall 618, there were more than 180 million transactions and explosions, more than 4,700 million transactions and more than 4,200 items with sales exceeding 10,000 pieces, making it easy to achieve the small goal of "10 million explosion groups and 100 million explosion groups every day". The "Ten Million Explosive Groups" directly promoted the high growth of poly-cost-effective transaction volume. During the period of 618, the growth rate of poly-cost-effective transaction volume reached 89% year-on-year, and the number of users and purchases in third-and fifth-tier cities both increased by more than 100% year-on-year.

　　Jiang Fan said at yesterday’s press conference: "The reason why Juhua can make such progress in just a few months is because it has returned to the original intention of ten years ago, that is, helping consumers find the best-priced goods in the whole network and helping businesses get customers with the most efficient marketing."

　　The best tool for brand customers.

　　Poly cost-effective comprehensive restart, and further become the brand’s best customer acquisition tool. Before Tmall 618, Juhua clearly put forward the goal of "bringing 300 million new customers to the brand", which was finally successfully achieved.

　　This year, 128 brands of Tmall 618 were among the "Billion Club". More than 100 brands such as CPB, L ‘Oré al, Watsons, Dr. Chengye, Telunsu and Peak surpassed double 11 last year, and the sales performance of some brands reached 40 times that of double 11 last year. In this promotion, almost all the brands that became the "Billion Club" participated in the cost-effective activities.

　　As the "biggest investment in history", 618 strives to convey "affordable" mind to consumers. The original price of Dyson hair dryer is nearly 3000 yuan, and 88VIP discount is added to the poly-cost-effective subsidy coupon, and the hand is as low as 1854 yuan. The brand with the original price of 1499 is bigger than an air conditioner, and it will be subsidized after the direct drop, and the hand price is 859 yuan. On June 18 th, Juhua launched the iPhone XR 618 yuan spike, which was less than 10% off the original price, causing the whole network to snap up. The investment of real money has undoubtedly greatly strengthened the influence of poly-cost-effectiveness on the consumer side.

　　Tmall is the brand’s favorite new product release platform. During this year’s Tmall 618, 80% of the core brands released new products on Tmall. With Tmall’s powerful data and operational capabilities, brands can also aggregate consumer information, understand consumer preferences, conduct new product research and development, and create "explosive models".

　　How to make "explosive models" sell better? Tmall has a set of marketing methodology. In Jia Luo’s view, the sale model is a means to help brands reach new customers as quickly as possible. In fact, there is also a very strong demand for branded goods in the sinking market. Brand goods with high cost performance can also "suck powder" quickly once they reach the sinking market. The long-term accumulated ability of Juhua has played a role in this respect. Before Juhua regained its independence from Tmall, it brought considerable business opportunities to the Tmall brand. In 2018, 80% of the brands that participated in Juhua came from new buyers, and the ability of Juhua to "pull new" can be seen. After the further restart, it was cost-effective, and the killer weapon of "Laxin" was used to the extreme. On June 25, the average growth rate of 400 brands participating in the launch of Tmall flagship store was as high as 47% during Tmall 618.

　　Empowering industrial belt to create new supply

　　The data shows that Handamoy has always been the largest shopping APP with the highest penetration rate in China, with more than 700 million consumers on this platform, with rich and diverse needs. How to meet their more and more diverse preferences, Amoy needs to work hard on the supply side.

　　The breakthrough of Tao department selection is still a good deal. In addition to bringing new customers to traditional head brands, Juhua has set its sights on small and medium-sized businesses on the platform. Through their digital transformation, they can provide more high-quality and affordable products, which can meet the diverse needs of consumers and create more business growth for middle-aged businesses.

　　Poly-cost-effective phase of the industry with businesses. In this year’s Tmall 618, a large number of small and medium-sized brands have entered people’s sight through Taobao, such as Yage electric mosquito swatter, Miaoyou children’s socks, Yi Enbei wet wipes, plant protection paper products, Fupai electric toothbrush, and Caramella socks. Although they don’t have the star aura of international brands, they are favored by consumers with high quality and low price. The reason behind it is also very simple. They have entered a cost-effective industrial belt support plan.

　　As a big manufacturing country, China manufacturers have strong production capacity, forming various types of industrial belts such as digital accessories, electric toothbrushes, socks and paper towels. Many industrial belt manufacturers have long been OEM for well-known brands, but they lack their own brands. The daily sale of Juhua’s products fills the shortcomings of industrial belt merchants in operation, technology and brand ability, which can not only help them upgrade their products by digital means, but also solve the sales channels of their goods.

　　On the other hand, when these industries bring merchants to the front desk, many categories of consumption upgrades have successfully reached the sinking market for the first time. For example, the electric toothbrush, a typical "consumption upgrade" commodity, was sold in the sinking market during Tmall 618. Fupai, an electric toothbrush brand in Taizhou, Zhejiang Province, sold 14,051 pieces in one minute after the opening of 618, and sold 400,000 pieces in 16 hours. Juhua cost-effectively pushed the industrial belt merchants and successfully awakened the upgrading needs of consumers in the sinking market. The industrial belt merchants also successfully won 466 million orders during the period of 618.

　　Observing this year’s 618, the strong rise of poly-cost-effective is the most noteworthy phenomenon. To some extent, the battle of sinking market has been rewritten. Juhua Cost-effective, by its own efforts, has driven more transactions than the whole platform in JD.COM and Pinduoduo, which means that it has become the natural choice for users in the sinking market.

　　For consumers, the "cost-effective" mentality has been established, and strong consumer insight and price competitiveness have greatly enhanced the user stickiness of the cost-effective platform. On the other hand, poly-cost-effectiveness has also become the integration of "Alibaba’s commercial operating system", which can effectively empower different types of businesses. The top brands can get more new customers through poly-cost-effectiveness, and the middle-waist businesses can also realize their own product evolution and brand upgrade through poly-cost-effectiveness.

　　The key for Amoy Department to maintain its own competitiveness lies in creating new supply for consumers so as to meet their new demands. And poly-cost-effectiveness is the key link, and it has withstood the test in the 618 War.