The yield of US Treasury bonds hit a new high for many years, which may have an adverse impact on global financial and trade stability.

CCTV News:The yield of us treasury bonds has hit new highs for many years. Experts said that the bond yield is inversely proportional to the bond price. Recently, the medium and long-term US bond yield has risen sharply, which has also led to a significant decline in the price of US Treasury bonds in the corresponding period. This reflects that the market believes that the high inflation situation in the United States may last longer.

The data shows that as of October 6, local time in the United States, the yields of 3-month, 2-year, 5-year, 10-year and 30-year US Treasury bonds increased by 7 basis points, 23 basis points, 52 basis points, 69 basis points and 75 basis points respectively compared with the end of August. Among them, the yield of 5-,10-and 30-year US Treasury bonds has risen to a new high in the past 16 years, and the yield of 2-and 3-month US Treasury bonds has reached the highest level in the past 17 years and 22 years.

Wen Bin, Chief Economist of China Minsheng Bank:Influenced by inflation expectations and other factors, since mid-May this year, the yield of U.S. government bonds with various maturities has generally increased. With the recent imbalance between supply and demand in the U.S. government bond market, the price of government bonds with various maturities has declined to varying degrees, and the yield of U.S. government bonds with various maturities has hit new highs for many years.         

Reflecting the financial market’s concern about the Fed’s continued high interest rates.

At the same time, the long-term and short-term yields of US Treasury bonds are upside down. The yield of 2-year and 10-year US Treasury bonds has been upside down for 15 months, and the maximum upside down rate was as high as 108 basis points. The yield of 3-month and 10-year US Treasury bonds has been upside down for 11 months, and the maximum upside down rate was as high as 189 basis points.

Wang Qing, Chief Macro Analyst of Oriental Jincheng:The core factor affecting the interest rate trend of short-term treasury bonds is monetary policy and expectation, which means that the market judges that it is unlikely that the Fed will continue to raise interest rates in the short term. The yield of medium and long-term treasury bonds is mainly linked to fundamental factors such as inflation level and economic growth. The current situation shows that the market believes that the high inflation situation in the United States will last longer, and it is expected that the Fed will postpone the interest rate cut next year.

At present, there is an imbalance between supply and demand in US Treasury bonds.

In the third quarter of this year, the net issuance of US Treasury bonds exceeded US$ 1 trillion, a record high in the same period. It is estimated that the net issuance of US Treasury bonds will reach US$ 850 billion in the fourth quarter. However, on the demand side of US Treasury bonds, as the Federal Reserve keeps high interest rates and reduces the purchase scale of US Treasury bonds, the number of buyers of US Treasury bonds decreases. The imbalance between supply and demand is constantly pushing up the yield of US Treasury bonds, bringing down the bond price.

       Lu Zhe, Chief Economist of Debon Securities:Since the second half of this year, the issuance of U.S. Treasury bonds has increased significantly, and the Fed has continued to shrink its balance sheet, that is, the Fed sells U.S. Treasury bonds in the market, especially medium-and long-term varieties of Treasury bonds, which has brought about an obvious imbalance between supply and demand in the U.S. Treasury bond market, which has also aggravated the rise in the yield of U.S. Treasury bonds and the decline in prices.

It will continue to have an impact on global financial and trade stability.

With the recent rise in the yield of US bonds, the financial market has fluctuated greatly. Experts said that in the long run, this situation will adversely affect global financial and trade stability in the future. 

The yield level of national debt plays an important role in the asset pricing of financial markets. Recently, there have been obvious fluctuations in financial markets from the United States to the world. The US dollar index remained at a high level, and non-US currencies were generally under pressure.

Concerns that the Fed will "keep higher interest rates for a longer period of time" are spreading to the global financial markets, and the yields of European government bonds, including Britain, France and Germany, have generally increased. Experts said that the return of global capital to the US and European markets has also brought external pressure to emerging economies, especially countries with heavy debt burdens.

Wen Bin, Chief Economist of Minsheng Bank:Recently, the yields of government bonds in many developed economies have risen to varying degrees. In addition to the common fundamental factor of high inflation, the spillover effect of rising US Treasury yields is also an important reason. The longer the yield of US Treasury bonds stays at a high level, the more likely it will have a greater impact on global financial stability.

In addition, according to the latest forecast of the World Trade Organization, in 2023, the global merchandise trade volume will only increase by 0.8% year-on-year, which is lower than the 1.7% forecast in April and far lower than the average annual growth rate of 2.6% since the financial crisis.

Wang Qing, Chief Macro Analyst of Oriental Jincheng:High interest rates will aggravate the economic slowdown in developed economies, leading to a decline in the import demand for goods and services in developed economies, and thus global trade will continue to be dragged down, which will slow down the pace of global economic recovery.

Since last year, the enthusiasm of global central banks to buy gold has continued to rise. According to the data of the World Gold Council, central banks bought 77 tons of gold in August and 219 tons in the past three months. Due to the sharp rise in the yield of US Treasury bonds, the performance of the US dollar index is relatively strong. Since late September, the international gold price has declined to some extent.

Lu Zhe, Chief Economist of Debon Securities:Since last year, concerns about geopolitical conflicts, inflation hedging and long-term value preservation have prompted global central banks to increase their gold purchases and reserves. The international gold price is denominated in US dollars, and the yield of US Treasury bonds has risen sharply, pushing up the US dollar, which will inevitably bring downward pressure on the international gold price. However, when the yield of US Treasury bonds continues to rise and the price drops sharply, many countries are increasing their purchases of gold for the sake of asset preservation.

Wu Yiling: Opening up a New Situation of Prevention and Treatment of Microangiopathy

Cctv news(Reporter Dong Shuyun): On January 10th, the National Science and Technology Awards Conference was grandly held in the Great Hall of the People. The project "Construction of the Theory of Traditional Chinese Medicine and Its Guidance for the Prevention and Treatment of Microangiopathy" led by Wu Yiling, an academician of China Academy of Engineering, won the first prize of the National Science and Technology Progress Award. It is reported that the award is the only first prize of the National Science and Technology Progress Award in the medical field in 2019.

As a contemporary of the Republic, Wu Yiling has multiple identities such as doctor, academician and entrepreneur. Referring to these names, he smiled indifferently and said, "I am a doctor."

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Wu Yiling (Photo courtesy of the respondent)

Born into a family of traditional Chinese medicine, he devoted himself to the research of traditional Chinese medicine for 40 years.

The Wu family practiced medicine for several generations, and Wu Yiling’s father was very famous in his hometown in Hebei Province at that time. He accumulated a lot of Chinese medicine classics at home, and Wu Yiling read Huangdi Neijing and Treatise on Febrile Diseases almost every time.

In 1977, Wu Yiling was admitted to the Department of Traditional Chinese Medicine of Hebei Medical University (then Hebei New Medical University). In the second year, the whole country resumed recruiting graduate students. The class teacher encouraged him to apply for the exam because of his solid basic skills. With years of accumulation, Wu Yiling completed the five-year college course in only three months. In 1979, he was admitted as the first graduate student of cardiovascular and diabetes in Nanjing College of Traditional Chinese Medicine.

During his three years as a graduate student in Wu Yiling, he began to get involved in the subject of collateral diseases. After graduation, he returned to work in the Cardiovascular Department of Hebei Traditional Chinese Medicine Hospital, and during this period, he began to explore different ways to treat cardiovascular diseases, and also innovatively developed prescriptions for treating cardiovascular and cerebrovascular diseases.

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Wu Yiling (left) Visiting Data Map

"Chinese medicine has been circulating for thousands of years, and it is profound, but our understanding of it is not deep enough." Wu Yiling said with deep feelings that as a doctor, he has the responsibility to promote Chinese medicine to keep pace with the times and further develop it.

Guided by the theory of venation, a new understanding of microangiopathy

China Cardiovascular Report 2018 shows that there are about 290 million patients with cardiovascular diseases in China, and one person dies of cardiovascular diseases every 10 seconds, and the mortality rate of cardiovascular diseases still ranks first. Microangiopathy is considered to be the key factor to improve the clinical efficacy of the above diseases, but due to its unclear mechanism and uncertain curative effect, scholars at home and abroad have never made a breakthrough for many years.

Wu Yiling and his team have made great innovations in the academic theory of traditional Chinese medicine, focusing on the international problem of microangiopathy and combining the major diseases of heart, brain and sugar.

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The Wu Yiling team project won the first prize of the National Science and Technology Progress Award (Photo courtesy of the interviewee)

Since 2005, Wu Yiling led the scientific research team to build the theory of TCM veins for the first time, relying on two national key basic research and development plans (referred to as "973 Plan") and combining with more than 10 domestic colleges and universities.

"&lsquo in the context theory; Pulse ’ Chinese medicine is called blood vessel, which is actually the same thing as the blood vessel of western medicine in anatomy, and the vein is the branch of blood vessel, "Wu Yiling said. The research team has carried out a lot of experiments in more than ten years, and under the guidance of venation theory, they have a new understanding of microvascular diseases.

"Microvessels, including microcirculatory lesions, are a difficult problem in the international medical community. They not only play an important role in the occurrence and development of major diseases such as cardiovascular and cerebrovascular diseases and diabetes, but also are the key factors that are difficult to improve the clinical efficacy at present. We have carried out research from three aspects: Chinese medicine, academic theory and mechanism of action. "

The research team adopted a randomized, double-blind, multicenter, placebo-controlled clinical evidence-based medicine that fully met international standards, and analyzed more than 33,000 research data, revealing that microangiopathy is a core and starting factor, including microvascular endothelial cells. Protecting microvascular endothelial cells is the key mechanism for treating clinical cardiovascular and cerebrovascular diseases.

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Wu Yiling (left) video screenshot

Wu Yiling said, "Around such an innovative theory, we adopted three traditional Chinese medicines for dredging collaterals and treating cardiovascular diseases". Clinical studies have confirmed that these drugs have great advantages in protecting microvessels and improving microcirculation.

Among them, the evidence-based study of Tongxinluo capsule in the treatment of acute myocardial infarction without reflow confirmed that it can reduce the area of myocardial infarction, improve cardiac function, and improve the curative effect by 20%, which has made great progress in solving this problem in the international cardiovascular community.

However, for Wu Yiling, the integration of Chinese and Western medicine and the real "going out" of Chinese medicine are his constant pursuit and efforts. Wu Yiling sighed, "The mechanism of Chinese medicine can be clearly explained, and Chinese medicine can be widely recognized by the world, so we can be worthy of this quintessence."

The "right tour" derivative drama exploded? The first episode is "big or small" …

[Text/Observer Network Wang Mochu]
August 21st may be an exciting day for the fans of Game of Thrones. More than three years after the end of the drama, "House Of The Dragon", as a derivative drama of "Right Tour", finally went online on the HBO Max platform, and "continued a meal" for the fans.
Correspondingly, the enthusiastic feedback from the drama powder also gave the drama a bright viewing result. The next day, HBO announced that the first episode of "Dragon Family" had set a new record for the premiere viewing of its original series: the number of viewers that night was as high as 9.986 million.
Screen of Dragon Family
The production cost of the play is also staggering, with the cost of the complete works reaching $200 million, or 1.37 billion yuan. However, judging from the word-of-mouth evaluation, the bloody and violent delivery pictures in the first episode caused a lot of controversy. In the play, the princess gave birth during childbirth and the king chose to "keep her baby", so that the princess died of a rude caesarean section when she was awake, afraid and unable to be the master.
Despite the grand special effects and eye-catching scenes, whether Dragon Family can get rid of the "rotten tail" shadow of "right tour" is still a sword of Damocles hanging over the head of the play.
"ferocious" delivery picture
The Dragon Family is adapted from the novel Blood and Fire by American writer george martin. The story is set 200 years before Game of Thrones and focuses on the rise and fall of the Targaryen family. Ten episodes are planned.
In the first episode just launched, the "cruel" dystocia scene attracted the attention of many foreign media and audiences. The Hollywood Reporter directly described it with the word "frightening" in its title, and wrote at the beginning of the article, "That childbirth scene is the scariest that human beings can do".
In the play, Emma Arryn is preparing to give birth to a son, which will provide her husband King Viserys Targaryen with a much-needed heir to the throne. But the delivery was not smooth, and the king had to choose between "keeping the big one or keeping the small one".
The king finally decided to "keep small". In the film, Wang Hao experienced a rough caesarean section and died of excessive bleeding after being completely awake, scared, unaware and unable to make decisions. Ironically, the child did not survive in the end. In presentation, this bloody production scene and a fierce contest are staggered in the play.
This scene paves the way for the core conflict of the play on the issue of king’s succession. At the end of the first episode, King Viserys chose his daughter Renilla as his heir, instead of his changeable brother Damon.
Regarding the choice of letting cruel childbirth and competition scenes evolve alternately, co-director Sabochnik explained during the interview, "We think this is an interesting way to explore the fact that for medieval women, childbirth is a battlefield, and you can’t ignore the violence that men of that era committed against women. It should not be diluted or beautified. "
In an email to The Times, Sabochnik wrote that the theme of the delivery was "torture" and the director group deliberately made the scene "unsightly" when shooting.
In terms of details, the university student who accompanied the delivery in the play said, "Father can choose". "This sentence means that Emma can’t decide her fate. Although she is lying there, the king and the bachelor never want to ask her advice," Sabochnik explained.
In a round-table interview with "Insider", Sabochnik said that he had played this childbirth scene to "as many women as possible" and asked the other party if this scene would be too "violent". The feedback he got was the same, "No. If you want to make comments, you need more. "
Sabochnik said that he realized that it was "really important" to show Emma’s lack of choice, and said that "we should not avoid what happened, because it put forward a point that seemed to really touch women. She had no choice but to be murdered by her husband. This is a good illustration of the state of the world we live in. "
This scene in the drama takes place in the fictional world, but back to the real world, under the background that the Supreme Court of the United States overturned the constitutional protection of women’s right to abortion in June this year, this plot seems to have a particularly profound modern significance.
Fox News in the United States pointed out that this scene may resonate particularly in the lives of modern Americans. After overturning the constitutional ruling that guarantees the right to abortion, the United States is giving priority to the life of the unborn baby, not the life of the mother.
This picture really caused many viewers to think about the protection of abortion rights. Someone wrote on Twitter, "If you have seen" Dragon Family ",you are frightened by the forced caesarean section in it, and you are in favor of strict abortion restrictions, then you are the worst hypocrite."
Gorgeous but boring?
After the first episode was broadcast, the ratings received enthusiastic response. Warner Bros. Discovery, the parent company of HBO, announced on Monday that on the Sunday night when the first episode of Dragon Family was launched, a total of 9.986 million people watched the drama through cable TV and HBO Max streaming media, setting a new record for the viewing data of original HBO dramas.
This premiere data also created the largest single-night audience for HBO since the finale of "Right Tour" in May 2019. 19.3 million people watched the finale night of "Power Tour", and the highest single-night statistics after that were contributed by the ending of the second season of Elysium, reaching 6.6 million cross-platform audiences.
This kind of market reaction may make the dramatist breathe a sigh of relief. After all, Dragon Family continues the gorgeous special effects style of Game of Thrones, and these productions cost real money.
In order to put the fighting scenes of nearly 20 dragons on the screen, the production cost of the whole season is as high as 200 million US dollars, making "Dragon Family" one of the most expensive TV programs recently. On average, the cost of an episode reached an astonishing $20 million. What is this concept? The single episode cost of "Quanyou" in the first quarter was $6 million, and the single episode cost in the eighth quarter was only $15 million.
Comparison of the production costs of "Dragon Family" and "Game of Thrones", from Twitter
Then, can the derivative drama "Dragon Family" arouse the enthusiasm of the fans of "Quanyou", attract new audiences, restore the reputation of "Quanyou" after being approved for the last two seasons, and let those who hate the ending of "Quanyou" put down their hanging hearts and lay a good foundation for themselves in the process? Various media have shown different views.
Some media strongly praised it, such as the Guardian, which praised the first episode of Dragon Family as spectacular, attractive and creepy, and as a sensational success as the heyday of Game of Thrones.
The Times praised it directly with the title of "rich pictures, exquisite acting and sharp plays". Media Ars Technic also issued a document affirming that the first performance of "Dragon Family" is expected to win back the heart of "Quanyou" drama powder.
Title of The Times Film Review
Ars Technic report screenshot
Besides praise, there are also many critical voices.
The film reviews published in Atlantic Monthly pointed out sharply that the hottest new dramas of HBO are all about incest.
In the right tour, the audience can also put aside the incest tradition of the Targaryen dynasty, but the Dragon Family is different. This derivative drama closely connects itself with the Targaryen family. Film critic Gilbert wrote, "This element involves the role development and narrative potential." "The most noteworthy thing about the TV series based on incestuous royal lineage is the flat relationship it establishes between the characters."
The film review published in Pianfeng Magazine bluntly commented that the play was boring, saying that "a lot of screen time was wasted on more gorgeous, superficial and meaningless events, such as the conflict at the large-scale tournament held by Viserys to celebrate the birth of the male heir". Commentator Riccio wrote sarcastically, "No brains choose spectacular scenes, so that you may think that the adapted book is simply called Blood instead of Fire and Blood".
Other controversies also revolve around casting.
In the play, the role of collis Valerian is set to be of ancient ancestry, with purple eyes and blond hair, while the actor … cast a black actor, and many viewers protested that it was "not consistent with the original".
"Varelia people are very strict about blood purity, especially those nobles. If we follow the legend, they will rarely have children with people other than nobles, let alone let one of them (children of impure blood) become the leader. "
The starring "Yan value problem" is also part of the audience’s hot discussion. Many viewers suggested that the cast could not support the setting of "the silver-haired dragon famous for its beauty" in the original work.
Matt smith, as Prince Damon Targaryen
Paddy Considine, as King of Viserys Targaryen.
Olivia cooke, as Allison Hightower (left); Rhys ifans, as Otto Hajto (right)
However, the ratings of major websites are not bad.
After the first episode of "Dragon Family" went online, as of press time, the rotten tomato website gave 83% freshness, while the Metacritic film review website scored 68 points and Douban scored 8.7 points.
The discussion heat of the premiere series is also reflected on social media. HBO said in a press release that on the day of its premiere, the entries of the play stayed on Twitter’s popularity list for 14 hours and won the first place on Google’s trend list.
Some people said that they "have booked the viewing time every Sunday night for the follow-up update of Dragon Family".
Some people seem to be "painful and happy" and say that "I am ready to get hurt again for Dragon Family after’ Quan You’ broke my heart for three years".
Some viewers who watched the first episode spoke highly of the Dragon Family.
I was heartbroken by Quan You 8. After watching the first episode of Dragon Family, I want to say: OK, HBO, you have successfully attracted my attention.
Domestic fans have received a lot of praise, and 52.4% of the people who scored Douban scored five stars. There are many words of praise in the comments, such as "shocking picture", "perfection" and "high production level", but some people have suggested that "no one remembers the characters after watching the first episode".
Generally speaking, the achievement of Dragon Family is excellent, but since the drama has only aired the first episode, the current rating result can only be regarded as "a good start".
After all, the picture is "eye-catching" again, and it also needs a solid script. With the "right tour" of "opening high and walking low" as a lesson, it will take time to prove whether the follow-up series of "Dragon Family" can catch the "high-profile" of the first episode and the concerns of the fans.
This article is an exclusive manuscript of Observer. It cannot be reproduced without authorization.
Reporting/feedback

The mediation platform of people’s courts gives full play to the advantages of online mediation and improves the efficiency of resolving the source of contradictions and disputes

In October 2021, the Supreme People’s Court successively issued the Implementation Opinions on Deepening the One-stop Pluralistic Dispute Resolution Mechanism of People’s Courts and Guiding Opinions on Accelerating the Work of People’s Court Mediation Platform in Rural Areas, Communities and Grids, demanding to improve the work pattern of People’s Courts in resolving disputes at the source, establish classified and graded ways to prevent and resolve conflicts and disputes, and promote the people’s court mediation platform in rural areas, communities and grids. We will build a grass-roots dispute resolution service system with grass-roots people’s courts and people’s courts as the main body and extensive participation of the masses, prevent and resolve disputes on the spot in time, and provide litigation services nearby or at home, so that the masses can resolve disputes at their doorstep. At the same time, the people’s courts should also strengthen the source settlement of financial, labor disputes, marriage and family, intellectual property rights, Internet disputes and other key areas.


As a national online mediation platform promoted by the Supreme People’s Court, the people’s court mediation platform has achieved good results in fully implementing the relevant work requirements of the Supreme People’s Court. In terms of resolving the source of contradictions and disputes, in order to fully carry out the work of people’s court mediation platform in rural areas, communities and grids, the people’s court mediation platform has launched a grass-roots governance platform, which enables people’s courts to connect with grass-roots governance units through online means, intensively integrate grass-roots social governance resources into the people’s court mediation platform, achieve full coverage of grass-roots dispute resolution forces, and realize online early warning, diversion, resolution, mediation, judicial confirmation, progress tracking, result feedback, guidance and supervision. Since the grassroots governance platform was launched, 8,210 people’s courts across the country have docked 38,844 grassroots governance units through the people’s court mediation platform, and completed online resolution and mediation of 5,832 disputes.


In terms of multiple dispute resolution, as of December 15th, 2021, the people’s court mediation platform has cooperated with the Price Certification Center of the National Development and Reform Commission, the People’s Bank of China, China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, China National Intellectual Property Administration, the All-China Federation of Trade Unions, the All-China Federation of Industry and Commerce, the All-China Federation of Returned Overseas Chinese and the China Association of Small and Medium-sized Enterprises through "total-to-total" cooperation. In 2021, more than nine units have participated in mediation of 145,800 pre-litigation cases through online platforms, with a mediation success rate of 62.65%, and successfully resolved more than 78,000 dispute cases.


The mediation platform of people's courts gives full play to the advantages of online mediation and improves the efficiency of resolving the source of contradictions and disputes

Through the people’s court mediation platform and the Supreme People’s Court to carry out "total to total" mediation cooperation of some units.


Since the people’s court mediation platform was officially launched in 2018, it has continuously enriched the platform’s common functions and improved its capabilities, and provided platform users with multi-faceted and full-coverage online mediation services through online advantages.


Access to the national courts to realize the docking of online appeals.


The people’s court mediation platform has achieved full access to 3502 courts across the country, and the access rate of courts has reached 100%. In addition, the people’s court mediation platform and the court’s trial process management system have been interconnected. Cases accepted by the court can be pushed from the trial process management system to the mediation platform of the people’s court with one click on the premise of meeting the relevant requirements of mediation before and during litigation, and mediation work can be carried out through specially invited mediation organizations, specially invited mediators or mediation organizations of the "General Manager" unit. Disputes that have been mediated by specially invited mediation organizations, specially invited mediators and "General-to-General" mediation organizations can also be pushed to the trial system with one click through the mediation platform of the people’s court, and the court will complete the operation of issuing judicial confirmation, mediation book or filing a case.


The mediation platform of people's courts gives full play to the advantages of online mediation and improves the efficiency of resolving the source of contradictions and disputes

The people’s court mediation platform computer terminal main station.


Empowering technology to provide convenience for users.


The people’s court mediation platform makes full use of the existing Internet technology, providing courts, mediators and parties with rich application capabilities. Mediators and parties can realize online video mediation through the online audio and video mediation capability of the people’s court mediation platform, breaking the time and space constraints, so that parties can participate in mediation anytime and anywhere. The people’s court mediation platform also provides the court with the ability to participate in mediation remotely, so that judges can also participate in the mediation process and better promote the parties to reach a settlement. In addition, the people’s court mediation platform also has the ability to sign online. On the platform, mediators and parties can sign online documents such as mediation transcripts and mediation agreements through mobile phones, achieving the goal of making people "run at most once, without running".


The mediation platform of people's courts gives full play to the advantages of online mediation and improves the efficiency of resolving the source of contradictions and disputes

The people’s court mediation platform WeChat applet home page.


Manage the time limit of mediation to improve the efficiency of mediation


The people’s court mediation platform has set time limit management for the mediation process. After accepting the case, the court’s specially invited mediator needs to complete the mediation process within 30 days. If it is really impossible to complete the mediation within the specified time, if the time limit is extended with the consent of both parties, the extension time may be appropriately extended, and the extension time shall not exceed 30 days in principle. If a mediation agreement is not reached within the prescribed time limit or the parties explicitly refuse to continue to resolve or mediate, it shall be transferred to the filing procedure in time according to law. Through the time limit management of the mediation process, the average mediation time of cases on the people’s court mediation platform in 2021 is 18 days, which further exerts the advantage of "short time" in mediation.


The mediation platform of the people’s court will continue to improve its functions, enhance its technical capabilities and provide "menu-style" dispute resolution services for the broad masses of the people on the basis of the existing good practices of resolving the source of contradictions and disputes and resolving disputes in multiple ways, and contribute to the realization of one-stop diversified dispute resolution to the grassroots, society, the Internet and key industries.

Tongchuan, Shaanxi: Restaurants have resumed their business and steadily restored the vitality of market players.

CCTV News:After the unblocking of Tongchuan, Shaanxi Province, the local authorities made overall plans to prevent and control the epidemic situation and resume production to ensure the orderly recovery of economic and social operation and market vitality.

In the past few days, most restaurants along the street in the main city of Tongchuan have gradually resumed business. Although it is not possible to eat in the hall for the time being, take-away food can be delivered. The reporter saw in a restaurant that the citizens who came to eat consciously wore masks under the guidance of the staff, kept the distance, and waited in line for the meal in an orderly manner. In the noodle restaurant, the staff are busy pulling noodles, mixing ingredients, cooking soup and packaging.

Yang Miao, a restaurant employee in Tongchuan, Shaanxi:At present, only salty noodle soup is sold all day, and customers can only pack it and don’t support dining.

In addition, some local supermarkets have gradually resumed business, among which 1,225 business entities in Yaozhou District have achieved normal business.

Zhang Hao, Deputy Director of Yaozhou District Market Supervision Administration, Tongchuan City, Shaanxi Province:"Physical examination" for all types of business households, maintaining market stability, and vigorously and orderly promoting the resumption of work, production and business.

Six major consumption trends of the new middle class in 2023: the end point of consumption is "sense of relaxation"

"In 2023, most new middle-class people were cautious about consumption. 47.5% of new middle-class families expect their consumption expenditure to remain unchanged, and 44.5% will fluctuate slightly. Among them, the proportion of people who choose to increase slightly is slightly higher than that of people who shrink slightly. "

Text/dawn report

The White Paper on the New Middle Class in 2023 will be released soon, and the time is set in mid-January 2024.

Compared with usual, we delayed the release of this report and put it at the beginning of the new year.

Retreat, standing in 2024 and looking back at 2023, the perspective is higher and more comprehensive; Practically speaking, this gives us more time to use more accurate annual data, not only to see it all, but also to see it carefully.

In addition to the release time, the content of the New Middle-class White Paper in 2023 has also changed a lot. In the past, we may have observed the changes of the new middle class life from a similar angle more mechanically, with the intention of catching a glimpse of the leopard from the small life links. The problem with this is that the observation may be accurate, but there is no practical reference for future speculation.

If you still don’t know what the new middle class is, here is a long picture for your reference, which records the starting point and mental journey of our observation of the new middle class.

The theme of the White Paper on the New Middle Class in 2023 is "Globalization". We refer to the development experience of the new middle class in other countries and combine the current situation faced by the new middle class in China to find a reference value for consumption and life. On a similar path, see where you have gone, and then step on others’ footprints to decide your next step, so as to reduce the opportunity cost brought by the choice as much as possible.

So where did the new middle class go in 2023? From this new report, which is about to be completed, we have drawn six groups of intuitive conclusions and made a simple summary of the new middle class year with data.

In 2022, we defined the new middle class as people who have certain wealth and are in the period of rising career. They are an important force to promote the social development of China through many dimensions such as occupation and consumption, and they are also a group of people who are greatly influenced by the overall development level of society.

The data tells us that the wealth growth of the new middle class has also encountered certain bottlenecks. Only 17.5% of the respondents said that 2023 was a year of asset expansion, which directly mapped to every consumption of the new middle class.

Mark Twain said: "History does not simply repeat itself, but it always moves forward with the same rhyme."

Looking back at the development of China’s consumption era, it has gone through four stages since the 1990s:Food and clothing consumption → diversified brand consumption → personalized consumption → rational consumption.

In 1980s and 1990s, China residents concentrated on food and clothing and large household durable consumer goods, such as color TV sets, washing machines and refrigerators, and paid attention to the price. In the new century of 2000, consumers have initially formed brand awareness, which requires not only the basic functions of products, but also additional functions. From 2010 to 2017, personalized consumption rose, social media such as WeChat and Weibo became the main channels to influence consumers, and the focus of consumption also shifted from commodity to service consumption.

Since 2018, new domestic products have risen, consumption has been further upgraded, the new middle class has been expanding, and consumption has gradually returned to pragmatism and rationality, from brand consumption to quality consumption.

Based on the data dimensions of macroeconomic level, per capita disposable income and per capita GDP, there are many similarities between China and the United States and Japan in the past.

Generally speaking, the changes of consumption times in China, the United States and Japan will basically go through three stages.

At the beginning, the economy developed at a high speed, urbanization advanced, and mass consumer goods prevailed. Later, after the economy developed to a certain stage, consumers’ cognition improved, and faced with consumption upgrading, consumption began to enter the stage of high-end, brand and quality. Finally, when the economic growth slows down or even stagnates, residents’ consumption behavior will tend to return to rationality, instead of blindly pursuing brands, they will pay the bill on demand.

Click on the picture to enlarge it immediately.

As shown in the figure, China is currently in the transition stage from the second consumer society to the third consumer society, but it has emerged the characteristics of the fourth consumer society, and the overall level is closer to the Japanese level in the 1970s-1990s. In combination, it is more like being in the middle of the "3 consumption era".

The most typical data feature in the consumption era is the change of consumption expenditure of new middle-class families.

Judging from the specific expenditure figures, in 2023, the daily expenditure of the new middle class appeared the phenomenon of "tight monetary policy". In 2023, the proportion of the new middle class whose monthly household expenditure is less than 10,000 yuan is 12.9 percentage points higher than that in 2022.

Affected by the objective environment, the uncertainty of one’s own work and investment and other factors,In 2023, most of the new middle class were cautious about consumption. 47.5% of new middle-class families expect their consumption expenditure to remain unchanged, and 44.5% will fluctuate slightly. Among them, the proportion of people who choose to increase slightly is slightly higher than that of people who shrink slightly.

Positive, but positive is relatively limited. At present, the attitude of the new middle class towards household consumption expenditure is generally conservative.

The daily consumption of the new middle class is diligent and frugal, and it is also comfortable to streamline consumption. In the investigation in 2023, we found that when a commodity is related to keywords such as "cost performance", "basic/practical", "living artifact" and "tens of billions of subsidies", it is easier to attract the attention of the new middle class.

Referring to the United States in the 1990s, price comparison is one of the most common operations after returning to rational consumption. When millennials become the main force in the American consumer market, they attach great importance to the cost performance of goods. According to the survey of Bank of America Merrill Lynch, 71% of people will compare prices online before buying, and 50% will compare prices between stores.

Although there are signs of spending cuts, the new middle class has not completely given up the happiness brought by consumption. According to the survey data, the new middle class is willing to spend money on their hobbies, and it is also affordable to splurge occasionally for "experience upgrade", "high-end/quality", "delicious" and "fun".

"overall frugality, local arbitrariness",It is the consumption attitude of the current new middle class. But how to find a balance between these two almost completely different attitudes has become our next dismantling object.

Basic consumption is the main position for the new middle class to save money.

German sociologist Haltmut Rosa believes that the essence of modernity is social acceleration, which can be divided into scientific and technological acceleration, social change acceleration and life rhythm acceleration.

With the rapid development of the Internet, the new middle class is inevitably caught in the accelerated time. As a result, the demand of some new middle-class people for instant and entertainment has increased rapidly, and prefabricated dishes and mobile entertainment have naturally become the just-needed consumption of families living alone or having children late.

In 2023, the prefabricated vegetable market rose. From January to September, 2023, the sales volume of prepared dishes below 50 yuan was the highest in Tik Tok. 200 yuan’s sales at the price of 100-100 increased the fastest year-on-year, reaching 99%, including some complicated dishes, party packages, New Year’s Eve packages and so on.

Behind the rise of prefabricated dishes, it shows that the new middle class pursues frugality and quick satisfaction in food consumption, the consumption cost and time costs are reduced at the same time, and the living density is accelerated.

Prefabricated dishes greatly reduce the difficulty and threshold of home cooking and provide a kind of "quick fireworks". According to the report of iResearch, nearly 70% of consumers buy pre-cooked dishes because of "saving time", nearly 30% because they don’t like cooking, and nearly 20% because they can’t cook.

The macro reason behind this is inseparable from the changes in the country’s demographic structure. Singletonization, family miniaturization and increasing female employment rate in the 1990s made Japanese small-sized families more inclined to cook prepared dishes or eat out. After Japan’s household expenditure peaked in 1992, the per capita consumption of food sub-categories was generally still on the rise, including beverages, dairy products, condiments and prepared vegetables.

Where did the money saved by the new middle class by squeezing basic consumption go? It is likely to be used to enhance sensory stimulation.

In 2023, a short drama with an episode of 3-5 minutes but an unambiguous plot became one of the electronic mustard tuber that brought sensory stimulation. As long as the microwave oven heats a pre-cooked dish, it can meet the entertainment needs of the new middle class for simplicity, relaxation and direct delivery.

In 2023, the market size of micro-short plays in China reached 37.39 billion yuan, and in the third quarter, the circulation of online micro-short plays in China reached 150, nearly twice the total in 2022. On Aauto Quicker APP, nearly 200 million users watch short plays every week.

This year is also a year of performance economy. According to the data of China Performance Industry Association, the number of performances and box office receipts in the first three quarters of 2023 have exceeded the level of the whole year of 2019. Jumping and jumping in concerts and music festivals, as supporting guests and Wu Bai singing to the top of their lungs, is one of the ways for the new middle class to vent.

2023 is also a year of theme parks. According to the financial report of Disneyland, even though the ticket prices of Shanghai Disneyland and Hongkong Disneyland have been rising one after another, the number of tourists and spending in the park have increased. Disney has also become a new middle-class weekend resort. Among the preferences of theme parks of netizens in China in 2023, 43.6% of consumers like Disney best.

Before that, the new middle class rewarded themselves with a feast at the weekend, but now the saved meals are marked as light sticks at concerts and Lena Belle dolls in Disney Park.The sensory stimulation pursued by the new middle class has never disappeared, but the stimulation of taste has turned into more intense enjoyment in vision and hearing.

In 2023, the new middle class is not only used to "deslagging" consumption like chewing sugar cane, but also expects consumption to bring longer-term additional significance.

Compared with the survey data in 2022, we have the following three findings.

First of all, "children’s education" has been the champion of the main expenditure items of new middle-class families for two consecutive years. Specifically, the monthly child-rearing expenditure of the new middle class is highly concentrated in three places, namely education and study (73.4%), daily diet (46.3%) and interest cultivation (45.3%).

Although the travel consumption has risen rapidly, it has only returned to the normal level. However, the proportion of children’s education and learning improvement has increased significantly, which shows the long-term change of the consumption attitude of the new middle class. Investing in the growth and health of the next generation is still the most certain expenditure and the most worthy of persisting in "long-term doctrine".

In addition to basic and enjoyable consumption, in 2023, there will be two important words in the consumption of the new middle class-"indoor" and "outdoor".

According to the data of the National Bureau of Statistics, in the first three quarters of 2023, the per capita consumption expenditure of residents ranked second, second only to basic consumption (food, tobacco and alcohol).

Suning.cn’s "double 11 Electrical Appliances Consumption Watch" shows that the new trend of household appliances is intensive, and the sales of household appliances represented by washing and drying suits, dishwashers and sweeping robots have increased by 117%, 125% and 132% respectively.

The reason is that the long-term experience of staying at home makes the relationship between the new middle class and the space of "home" more and more intimate. With the recovery of consumption, the new middle class has continued and even upgraded the personalized demand for living space.

In terms of outdoor economy, China’s new middle class is now keen on suburban exploration and short trips.

In 2023, the outdoor travel frequency of the new middle class is higher than that of 2022, and nearly 40% of the new middle class will go outdoors every month. More than 40% of the new middle class said that they would try new products related to travel on a regular basis.

This is similar to Japan’s travel trend from 1984 to 2019. At that time, in Japan, short-distance tours with short distance, short time and low price constantly replaced European and American tours, and showed the characteristics of family and miniaturization. From 1992 to 2022, Japan’s sports-related consumption has also been rising, such as mountaineering, camping, cycling and gymnasiums.

According to the massive engine "2023 Tik Tok Tourism Content Experience Survey", in terms of travel days, the number of people who choose to travel for 1-3 days is the highest, reaching 44.2%. Even if they don’t take a three-day holiday, many new middle-class people have to "sleep somewhere else" for the weekend-or simply find a hotel in the city where they live.

The above are eight important figures that we extracted from the White Paper on New Middle Class: Consumption in 2023. In addition to consumption-related data, we also explored more data with the brand of the times from the perspectives of wealth, occupation and social relations of the new middle class. Teacher Wu will also use these findings in the "Foreseeing the 2024 Wu Xiaobo Factory Year-end Show" on December 30th.Welcome to make an appointment for live broadcast.


Author |
Awan
| responsibilityEdit | Tao Xu

Editor | He mengfei | Source | VCG

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Reporting/feedback

"Negotiator" launched in Z.TAO, Yang Mi, "Chong Chong" CP sweet comparison.

   On February 3rd, the TV series Negotiator held a launch conference in Beijing with the theme of "The Negotiation Conference of Honey Sweets", with Yang Mi, Z.TAO, Guo Pinchao, Lion, Li Tingting and others all present. At the press conference, Yang Mi and Z.TAO extended the happy-and-off mode in the play to the outside, and the sweetness of "fighting for pets" was refreshing. The live interaction between them, which was not too tired of fighting for each other, gave the audience a new understanding of the painting style of Negotiator. A group of leading actors even sent their Spring Festival greetings to the audience on the eve of the Spring Festival.

   At the same time, Gao Chen, the producer of Negotiator, and Fei Huijun, the screenwriter, both expressed their understanding of the play. Gao Chen described the meaning of pun in negotiation and pointed out: "It is not just a tit-for-tat performance at the negotiating table, but also a negotiation of emotion, life and self"; Fei Huijun, the screenwriter, talked poetically: "I hope everyone can not only see beautiful love, but also see rivers and rivers, and their hearts are tied to the sea."

   The TV series "Negotiator" will land in the Golden Eagle solo theater of Hunan Satellite TV on February 4, and "Negotiation and Heart-to-Heart Talk" will open the year sweetly and accompany the audience to celebrate the New Year.

   Yang Mi claimed to be a "fat man with a wry smile" and Z.TAO turned into a "love koi fish".

   The theme of this conference is "the negotiation meeting of honey-sweet pets", and Yang Mi and Z.TAO, the "cp" of honey-sweet pets, are also "worthy of the name" at the scene, with constant explosions and jokes throughout. At the scene, Yang Mi’s spit mode was wide open, poking fun at himself as a "fat man with a wry smile" in the play, and laughing that he was the fattest when shooting Negotiator. At the press conference, Yang Mi and Z.TAO showed the audience how to spoil each other. They recalled the classic "spoil" line in the play, and Yang Mi wrote the classic line of Tong Wei in the play: "If I like you, my life will become a comedy horror movie". Z.TAO, on the other hand, relied on his own feelings to write the hilarious golden sentence of "Flying in the sky and flying in the earth". At the same time, the two are still sweet at the scene, showing the sweet atmosphere of "pampering cp".

   At the scene, Yang Mi, Z.TAO, Guo Pinchao, Lion and Li Tingting also sent Spring Festival greetings to the audience in order to cater to the atmosphere of the upcoming New Year. Guo Pinchao, Lion and Li Tingting also sent their love, family and academic blessings to everyone. Yang Mi and Z.TAO dropped the ball again, and Z.TAO said, "I wish you all love when you are single after watching Negotiator." Yang Mi immediately took the ball and said, "Forward it to koi fish, Z.TAO, and wish Negotiator a good year with you."

   Negotiator tells a series of stories about the workplace, ideals and love between Yang Mi’s capable and confident "negotiator" Tong Wei and Z.TAO’s "business wizard" Xie Xiaofei with dreams. What wonderful stories will happen to the two independent male and female protagonists in the play, and whether they can conquer the audience with the new "urban love mode" is very exciting.

   At the scene, the leading actors also interpreted and analyzed the role played in the play. Regarding the role of Tong Wei, Yang Mi said that "Tong Wei’s family condition is not so good, she is a very rigorous person, and her life has also undergone great changes until Z.TAO appeared in her life". Z.TAO called Xie Xiaofei "a person who is very overbearing about love", and also said that this role has gone through three different stages in the play: "In the early stage, he was a little crazy, in the middle stage, he experienced poverty and confusion, and in the later stage, he became mature". Guo Pinchao analyzed that Qin Tianyu, who he played, was "quite steady, liked Tong Wei, and was very professional in his work. I felt that I still lacked a little experience emotionally, and I always felt as if Tong Wei was mine". Lai Yi said that Xie Xiaotian’s corner color is relatively mature for his peers, and he even spoiled in advance that he and his brother Xie Xiaofei are actually not related by blood. Li Tingting, who plays Tong Tian Tian, said that "Tong Tian Tian is rebellious, but she has accepted her sister in her heart, but she still keeps her mouth shut". She even said that Yang Mi was very considerate and caring for her at the scene, as if she were really a sister.

   Recalling the experience of shooting, the leading actors were deeply touched, and the screenwriter even broke the news: "new york’s scenes were so cold that I couldn’t bear to go back to the hotel to revise the script, but the actors kept shooting." Earlier, I cooperated with Z.TAO for many times. When talking about the third cooperation, Yang Mi said that he was very happy: "Negotiator" was a very happy cooperation experience for us. I believe every actor was, as Guo Pinchao said, a very happy experience. As few people knew us in the Hawaiian filming street, four people each wore a hat, visited the night market and walked the beach. " Z.TAO frankly learned a lot from this drama: "I learned a lot after filming Negotiator, and this drama made me want to gradually become an actor. Power sister’s professional dedication and her attitude are things that this industry needs to learn. She has never kept the staff waiting, never been late, and never asked for anything. This is part of my study. I think I feel that I am doing very well now, because of the influence of Jackie Chan and Power sister. Know what is good and what is bad. "

   There is no lack of emotional warmth in negotiation, workplace rules show human communication.

   While the TV drama market is becoming more and more prosperous, the audience’s demand for the quality of TV dramas is also increasing gradually. Negotiator focuses on the scarce areas of domestic TV dramas, not only paying attention to the rarely presented negotiation areas, but also taking "negotiation is not tit for tat, but heart-to-heart communication" as the theme, adding emotional warmth to tough negotiations, and the negotiations are also heart-to-heart, and a self-negotiation about "what to seek" is slowly launched.

   At the press conference, Gao Chen, the producer of Negotiator, and Fei Huijun, the screenwriter, both expressed their views on the drama. Gao Chen said: "Negotiation is also a kind of communication between people. Our story is not just about tit-for-tat negotiation at the negotiating table. There are more people, fathers and sons, lovers, and family and friendship." Fei Huijun said that Negotiator is not only a TV series about love, but also the collapse and reconstruction of faith and the pursuit of ideals and beliefs. Both Tong Wei and Xie Xiaofei will grow up. "I hope everyone can see not only beautiful love, but also rivers and seas from our TV series."

The studio denies that Luhan secretly married as a father and has sent a lawyer’s letter to the whistleblower

Luhan Studio issued a statement denying its secret marriage upgrade to fatherhood

Luhan

"Care Gossip Growth Association" broke the news


    1905 movie network news On July 9, an official account broke the news that a Korean idol group, Xiao Xianrou, had recently returned to China for development. One of the most popular L surnamed Xiao Xianrou was going to be a father. As soon as the news came out, many netizens pointed the target of the revelation at 25-year-old Lu Han. In response, Lu Han Studio quickly responded and issued an official statement, saying that Lu Han himself had never had the "Korean girlfriend" described in the article, let alone "married and had children". At 14:33 pm that day, Lu Han Studio sent another lawyer’s letter, solemnly clarifying that the so-called "revelations" in the article were all rumors, which were seriously inconsistent with the facts, and asked the "Love Gossip Growth Association" to delete false defamatory information before 17:00 today.

  

    According to the "Love and Gossip Growth Association", L surnamed Xiao Xianrou had a girlfriend in South Korea. The other party was still a college student at the time, and L surnamed Xiao Xianrou sent her roses when she was in South Korea. Earlier, L surnamed Xiao Xianrou went to Nanjing to attend an event, and was also witnessed by fans interacting closely with the woman. According to internal fans, L surnamed Xiao Xianrou got married to his girlfriend in March, and the girl’s birthday was on March 1.

    Then Lu Han issued a statement denying the idea of being a father. The original text of the statement is as follows: This morning, the WeChat official account named "Love Gossip Growth Association" published the article "L surname Xiao Xianrou as a father", in which a large amount of content insinuated Mr. Lu Han, without any factual basis, without any verification process, all of which were malicious revelations, which had an extremely bad impact on Mr. Lu Han. It is hereby stated that Lu Han himself has never had the "Korean girlfriend" described in the article, let alone "married with children".

    On the afternoon of July 9, Luhan himself and Luhan Studio authorized Beijing Haiwen Law Firm to issue a formal lawyer’s statement on the false "revelations" issued by the "Love Gossip Growth Association", solemnly clarifying that the so-called "revelations" in the article are all rumors, which are seriously inconsistent with the facts. The "Love Gossip Growth Association" is required to delete the false defamation information before 17:00 today and apologize, otherwise legal procedures will be initiated.

Unicom Cloud: Building a Trusted Digital Intelligence Cloud and Providing a Powerful Computing Engine for the Digital Economy

It is a strategic choice for China Unicom to build a key technology base of digital information, build a scientific and technological innovative enterprise, and embrace the future of digital economy hand in hand with all parties in the industrial chain. Recently, China Unicom’s partner conference was held in Beijing. The conference not only defined the company’s new positioning and strategy, but also defined the five main responsibilities of "big connection, big computing, big data, big application and big security", which pointed out the direction for the future development of China Unicom. On the first day of the conference, Unicom Cloud was fully upgraded, and China Unicom’s cloud computing business brand was completely renewed. Unicom Cloud, as the unified computing base for China Unicom to undertake big computing business, will improve the service level of "connection+perception+computing+intelligence" and create the "first computing engine" for the digital economy.

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Serving the digital economy and consolidating the base of digital information infrastructure

General Secretary of the Supreme Leader profoundly pointed out that the development of digital economy is a strategic choice to grasp the new opportunities of the new round of scientific and technological revolution and industrial transformation. It is necessary to "accelerate the construction of intelligent comprehensive digital information infrastructure with high speed, ubiquity, integration of heaven and earth, cloud and network integration, intelligence and agility, green and low carbon, security and controllability, and open up the information artery of economic and social development". "Give full play to the advantages of massive data and rich application scenarios, promote the deep integration of digital technology and real economy, empower the transformation and upgrading of traditional industries, and give birth to new ones."

China Unicom conscientiously implemented the spirit of the important instructions of the Supreme Leader General Secretary and the decision-making arrangements of the CPC Central Committee and the State Council, comprehensively undertook the new mission entrusted by the new era, combined with its own resource endowment, conformed to the law of technology and market development, and closely followed the new round of scientific and technological revolution and industrial transformation trend, and determined the new orientation and strategy for the development of the company during the Tenth Five-Year Plan. Based on the new journey, China Unicom’s new positioning is: the national team of digital information infrastructure operation and service, the main force of building a smart society in digital China, a network power, and the vanguard of digital technology integration and innovation. Based on the new positioning, China Unicom upgraded the company’s strategy to "strengthen the foundation, be honest and innovative, and be integrated and open". Under the new positioning and strategy, China Unicom will make full efforts in the main channel of digital economy, and take "big connection, big computing, big data, big application and big security" as its main business, so as to realize all-round transformation and upgrading of development power, path and mode, open up new development space and integrate into the new development pattern.

Undertake big computing and provide a powerful computing engine.

Computing power is becoming the new engine of digital economy development, the new embodiment of national hard power and the new focus of global strategic competition. The data shows that there is a significant positive correlation between the level of computing power and the level of economic development in countries around the world. Liang Baojun, deputy general manager of China Unicom, said in a speech at the Unicom Cloud Conference that according to the calculation of China ICT Institute, the computing industry can drive economic output to 4 yuan for every investment in 1 yuan. As a key component of digital information infrastructure, computing power has become a new kinetic energy to support the development of digital economy, and its driving role is very obvious. Doing powerful computing is not only the need for China Unicom to develop its five main businesses, but also will strongly promote the development of digital economy.

China Unicom integrates network and computing resources, promotes the new layout of computing network with advanced architecture, safety and reliability, and excellent service, and builds a new ecosystem of computing network integration with computing power as the core. China Unicom strives to build a green, intensive, safe and reliable computing infrastructure; Focus on building a national integrated, intelligent and agile new computing network; Focus on building a Unicom cloud with cloud and network integration, security and credibility, exclusive customization and cloudy collaboration. Through powerful computing, a multi-level computing facility system of digital network collaboration, shuyun collaboration, cloud edge collaboration and green intelligence is formed, which supports comprehensive and diverse digital needs of different dimensions and levels and provides a powerful computing engine for high-quality economic and social development.

Comprehensively innovate and upgrade to create a credible digital intelligence cloud.

Unicom Cloud is the unified computing base for undertaking big computing business among the five main businesses of China Unicom, and it has the differentiated advantages of "safety and credibility, integration of cloud and network, exclusive customization and cloudy collaboration". This upgrade is reflected in four aspects: technology, products, services and ecology.

In terms of technology, first, cloud native technology leads, fully supports the intensive business system of China Unicom, stably carries the core business operation of 400 million+users, creates the ultra-large-scale cloud native technology practice with 300,000+containers online in real time, and provides reliable computing support for the digital transformation of government and enterprise customers. The second is the integration of distributed cloud across domains, realizing four-level cloud network coverage, second-level cross-domain scheduling, and one-click distribution of 100+5G applications, further deepening the collaborative integration of 5G cloud networks. Third, the core technology is self-controllable, safe and credible, and a brand-new version 3.0 of Unicom cloud operating system is launched, which supports cloud native+virtualized dual technology stack, fully adapts to mainstream domestic software and hardware, supports multi-modality delivery with unified technology kernel, and provides localized end-to-end full-stack solutions. The fourth is the integration of digital intelligence of PaaS products, which supports 100 million IoT connections, provides more than 40 artificial intelligence atomic capabilities, 8 blockchain general service components, and aPaaS components support more than 160 self-developed applications, realizing intensive operation and integrated agile delivery. Fifth, the integration of cloud and network, the deep integration of computing power and network, the construction of CUBE-Net3.0 new computing power network, the enhancement of the programmable ability of the industrial Internet CUII covering 336 cities, the realization of one-point access to the cloud, intelligent networking, integrated scheduling of computing networks, and the creation of a cloud-network integrated service of "one network is cloudy, and one-click network adjusts the cloud".

In terms of products, the upgraded Unicom cloud fusion technology and scene innovation have launched seven scene cloud products, namely, IOT sensing cloud, sea storage cloud, intelligent video cloud, intelligent chain collaborative cloud, 5G edge cloud, autonomous controllable cloud and hybrid cloud, which provide reliable assistance for thousands of industries to go to the cloud, use data and empower intelligence. In terms of services, China Unicom implemented the service concept of "all for customers" and launched the full-cycle and all-round Unicom cloud CARE plan. C (Convergent) convenient operation service provides omni-channel service of "online acceptance" and "offline three-level network" around the differentiated service needs of customers on the cloud. A(Accountable) promises responsible SLA services, builds an agile and efficient operation service team, improves business operation and service guarantee capabilities, and provides cloud services to cloud customers with carrier-grade standards. R(Reliable) is a reliable security service. China Unicom has built a dynamic active defense capability driven by digital intelligence, a full-life data security capability and a one-stop security service system to protect the digital transformation of the economy and society. E(Enhanced) is an extensible professional service. Based on its powerful cloud operation and maintenance system and ecological strength, China Unicom provides customers with cloud professional services covering all stages of consultation, construction and operation. China Unicom has always been dedicated to becoming an excellent cloud service provider (CSP) and a leading cloud management service provider (CMSP) to create value for customers.

Open cooperation is an important force to promote the development of enterprises. China Unicom put forward the concept of "strengthening foundation, keeping integrity and innovation, and integrating and opening up", hoping to join hands with partners to build a new cloud ecosystem of Unicom from three dimensions. First, carry out multi-faceted technical cooperation. Unicom Cloud will continue to increase the contribution of the open source community, and jointly carry out scientific and technological breakthroughs and new product and technology pilots with various Industry-University-Research institutions to jointly enhance its core technical capabilities. Second, multi-dimensional product co-construction, Unicom Cloud will explore new directions in the vertical field with industry application partners, jointly create a scene ecosystem, and promote localization adaptation and cooperation. Third, multi-channel prosperity application ecology, actively support application partners to settle in the cloud market, jointly create explosive applications in sub-sectors, deeply customize Unicom cloud application products, and achieve scale development. Liang Baojun said that in the future, China Unicom will increase cooperation with its partners in technology advancement, product co-construction and application symbiosis, so as to jointly create a new ecosystem of Unicom Cloud.

Strong foundation, innovation, integration and opening up, under the new strategy of China Unicom, Unicom Cloud will further efficiently support digital transformation in various fields and make new contributions to high-quality economic and social development.

The first time, Rongcan Bio completed tens of millions of Pre.

Recently, Rongcan Bio, an independent innovation platform enterprise of nucleic acid technology, announced the completion of tens of millions of RMB Pre-A round of financing. This round of financing was led by a well-known medical and health professional fund, and Haoyue Capital served as the exclusive financial advisor for this round of financing. This round of financing will help Rongcan Bio accelerate product research and development and team building, and promote the leading pipeline to enter clinical research.

Rongcan Bio was founded in June, 2020 by a team of experts from China and a senior returnee. The founding team has decades of experience in the nucleic acid industry, and has successfully designed and developed LNP carriers with completely independent intellectual property rights, and signed with Professor Robert Langer, and obtained the patent authorization for new cationic lipid carriers in the United States (the founder of Rongcan was the first inventor). It is also a rare team in China to jointly develop cationic lipid carriers with Professor Robert Langer and obtain the patent authorization in the United States. The cationic lipid developed by the company has been recognized by experts in the field of nucleic acid delivery around the world, and the research and development results used to study the delivery of mRNA and siRNA drugs have been published in top international journals such as Science Translation Medicine, Nature Biomedical Engineering, PNAS and Science Advances.

The global outbreak of COVID-19 epidemic has accelerated the development of mRNA technology, and its technical feasibility and advantages have also been recognized by the industry. For mRNA drugs, it is the key to develop an efficient and safe drug delivery system. LNP is one of the most mature delivery systems for mRNA drug research and application, which has many advantages, such as high encapsulation efficiency, good cell transfection efficiency, strong tissue penetration, low cytotoxicity and immunogenicity, and has been successfully applied to many commercial products.

As the "soul" of mRNA drug delivery, LNP’s patent has a very high challenge barrier, and the international dispute about LNP’s patent continues.The protection of LNP patent mainly includes three aspects: firstly, the chemical structure of cationic lipid in LNP is protected, which is also the core of LNP patent; Secondly, protect the molar ratio between cationic lipid molecules and other components in LNP, including the ratio between different lipids and the ratio of cationic lipid to mRNA; The last patent also provides protection for the use of LNP.. If enterprises want to get rid of the existing LNP patent restrictions completely, they must take the road of completely independent innovation and look for a brand-new cationic liposome structure and its component formula.

As a nucleic acid R&D enterprise with super patent moat of LNP in China, the company has achieved the breakthrough of cationic lipid structure, proportion of preparation components and application patents of indications at the same time, developed an independent and commercialized LNP delivery system, and completed the global FTO investigation and analysis, with the right to freely implement it on a global scale. Based on the innovative cationic lipid compound library, Rong can has evaluated and screened 5000+ LNPs in vivo through animal experiments. The clinical data of head animal experiments show that the delivery efficiency, safety, cost and accessibility of LNP independently developed by the company are comparable to or better than those of international head enterprises; At the same time, the delivery system has good stability, can be stored at low temperature, greatly reduces the storage and transportation costs, and has a wide range of application scenarios.

It is worth noting that,Rongcan has achieved a breakthrough in LNP targeting for extrahepatic organs, and it is a rare research and development enterprise in China with targeting for atherosclerotic plaques and lung targeting LNP. Preclinical studies have verified that LNP developed by the company can achieve specific extrahepatic targeted delivery and produce excellent therapeutic effects in animal models..

In addition, in September this year, the company was awarded the "Key Project" of the National Biomedical Technology Innovation Center (the first national technical innovation center in the field of biomedicine approved by the Ministry of Science and Technology in March 2021), a key technical research project for nucleic acid drugs. In this national biomedical technology innovation project, 169 famous pharmaceutical companies and scientific research institutions, including many mRNA companies, hospitals and scientific research institutes, participated in the application. Rongcan Bio is listed in the list of eight major key projects, and only two enterprises including Rongcan Bio are selected as major key projects in Shanghai.

Founder of rongcan biologySaid that we are honored to receive the support of professional medical investment funds this round. The application prospect of mRNA technology is broad. For mRNA R&D enterprises, the delivery system with independent innovation is the most difficult technical problem to solve at present. We believe that only by attaching importance to source innovation, improving our own scientific and technological strength and building a platform for the whole industry chain can we win a place in the global mRNA competition. Rongcan Bio-team has decades of experience in the research and development of nucleic acid drugs, and has established a platform for the research and development of nucleic acid delivery vectors with truly independent innovation patents. At present, it is cooperating with well-known domestic vaccine companies and research and development institutions in the hope of further benefiting patients.

Mr. Li Yishi, Senior Partner of Haoyue CapitalIt is indicated that the epidemic situation has accelerated the appearance of COVID-19 vaccine of mRNA, which has attracted special attention. The potential of nucleic acid drugs has been gradually tapped, and its delivery technology has become the key to the research and development of nucleic acid drugs. At present, the team that truly masters the key technology of LNP delivery is very scarce in the world. Rongcan Bio-team has a deep technical accumulation in the field of nucleic acid delivery and has been recognized by top scientists around the world. We are optimistic about Rongcan as a platform-based company, and constantly expand its technology application scenarios. Even in the downward market environment, high-quality companies in the frontier track like Rongcan Bio will still be recognized by capital.

About rongcan biology

Rongcan Bio was founded in June 2020, and is committed to the development and industrialization of new mRNA drugs. The company has established a whole process research and development system covering mRNA sequence design and synthesis technology, lipid chemistry, LNP preparation research and development and amplification technology, analysis method development and verification, and biological evaluation platform; It also has a pilot production line of GMP-compliant mRNA stock solution and LNP preparation, with a total area of about 4,000 square meters, which meets the needs of IND research and development and clinical phase I~II sample production.

The founding team of Rongcan completed the postdoctoral research work of joint training in MIT and Harvard Medical School, and has more than 10 years of research and development experience in nucleic acid delivery carrier technology, and established a nucleic acid delivery technology platform with independent intellectual property rights. The delivery technology platform is not only suitable for vaccine development, but also breaks through the common liver accumulation limitation of nucleic acid delivery, realizes specific targeted delivery for atherosclerotic plaques and hepatic stellate cells, and develops the first inhalable nucleic acid nano-delivery system for lung administration in China.

Rongcan Bio has internationally competitive nucleic acid delivery carrier technology and mRNA biotechnology platform, and is currently cooperating with well-known domestic vaccine companies and R&D institutions to achieve strategic development through technology licensing, cooperative development and revenue sharing.

About Haoyue Capital

Haoyue Capital, founded in January 2014, is a leading industrial investment bank focusing on the medical and health industry in China. The company is headquartered in Shanghai, with regional offices in Beijing and Shenzhen. Haoyue Capital has always been committed to helping outstanding enterprises in China medical industry to successfully connect with the capital market and create added value for customers with the help of capital and driven by research. Haoyue Capital’s partner team consists of senior investment bankers who have been deeply involved in China’s medical and health field for many years, with more than 70 professional teams. Haoyue Capital has been closely tracking the market dynamics and investment trends of medical and health investment for a long time, and its research fields and trading scope cover innovative medicine, innovative medical devices, IVD and life sciences, health services and smart medical care. In 2021, Haoyue Capital completed more than 50 complex transactions of private equity financing, mergers and acquisitions integration and the spin-off of listed companies, with a total transaction amount of tens of billions of RMB, leading the way in all segments of the medical industry.

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