Wuling’s first new car came in 2024, that is, the new car has two configurations, the 401km flagship version costs 89,800 yuan, and the 510km flagship version costs 98,800 yuan. The new car is positioned as A0-class pure electric vehicle, which has the longest cruising range of pure electric vehicle within 100,000 yuan.
510 km battery life, the longest in its class.
Because of the size and cost of the car body, the battery life of the general pure electric car will not be very long, but Wuling Binguo PLUS has achieved the longest battery life of 510 kilometers at the same level, excellent spatial layout and relatively low wind resistance, and its energy consumption is also very low with efficient intelligent thermal management system and intelligent energy management. With a longer battery life, its travel radius can be longer, and it is not afraid of long-distance travel on the premise of meeting the commuting in the city.
Binguo PLUS is equipped with 37.9kWh and 50.6kWh batteries. The cruising range under CLTC is 401km and 510km respectively, and the SOC is 30% ~ 80% under fast charging conditions. The charging time is 35 minutes and 30 minutes respectively, and the charging speed of the 510km flagship version is faster.
In terms of power, the motor carried by the new car has a maximum power of 75kW, a peak torque of 180N·m, and a maximum speed of 140km/h, and it is also easy to run at a high speed when going out of town.
Small body and large capacity
Since it is called Bingo PLUS, it also inherits the characteristics of small body and large space of Bingo and continues to carry forward. The new car is positioned as AO-class pure electricity, with the length, width and height of 4090×1720×1575mm and the wheelbase of 2610 mm. Although the car body is small, the wheelbase is very long. It has a space of 912mm between two rows of seats and 89mm between knees. In addition, there are as many as 23 storage spaces in the whole car, especially the auxiliary instrument platform adopts floating island double-layer design, which makes it convenient and flexible to take and put things.
The car adopts a minimalist design style, providing two interior colors: empty green and warm sand white. The new car is equipped with Ling OS Linxi intelligent network connection system, and the 8.8-inch instrument +10.1-inch central control panel provides clear driving information and rich entertainment software. The new car is equipped with automatic wipers, automatic headlights, and the most commendable thing is that it is equipped with a hood, which is more handy to operate.
Small cars, Wuling has full advantages.
Wuling has been deeply involved in small new energy vehicles for many years and has achieved remarkable results. In the past two years, the sales volume of Binguo has also been in the forefront. Now the extra-large Bingo PLUS is coming, and the longest battery life within 100,000 yuan is also the ultimate. In the market, its main competitors are still from BYD, mainly BYD and, but through comparison, we can find that the battery life of those two cars is relatively short, only providing battery life of 300km and 400km, which is quite different from that of Bingo PLUS 510km.
For Wuling, rolling a small car is really not afraid of anyone!
Huang Xuan Su Yan staged the "most realistic" love story
When did our love start to go bad? With realistic thinking about love and marriage, the film tells the story of how the marriage "filter" of Yang Hua and Miao Wei, a young couple, collapsed in just three days. From sweetness to strangers, Huang Xuan and Yang Zishan, who were caught in the brink of love and hate by all kinds of misunderstandings in Wuhai, seem to have opened a "skill package" for quarreling, which has not been officially released. A section of "Huang Xuan Yang Zishan’s quarreling drama" in the preview has dominated many social media hot search lists, which has triggered the collective empathy and extensive hot discussion among netizens. "Be sure to talk to your lover." At the meeting, this scene was also restored by Zhou Ziyang’s friend director Wang Xiaozhen and actor Zhou Qing at 1:1, while director Zhou Ziyang and the male actor Huang Xuan revealed the filming process together.
The surreal Wuhai echoes the protagonist’s struggle, loss, resistance and cry in the real dilemma. Director Zhou Ziyang said when communicating with the audience that Huang Xuan went with him to shoot the scenic spot without signing a contract, and the two of them walked through the whole life experience of "Yang Hua". Huang Xuan lived in the darkest room of the hotel in order to find and maintain the role state during the filming, and was photographed without makeup. "Looking at it now, my face was swollen and vicissitudes at that time. At that time, I needed to make my body and mind uncomfortable and relatively deviated from the normal mood and thinking state." Huang Xuan said. In the end, Huang Xuan "turned into" Yang Hua, which went from forbearance and resentment to collapse, out of control and hysteria. When talking about the scene of the quarrel that triggered a hot discussion on the whole network, Huang Xuan also expressed his understanding. "Before filming, I sat in the cabin with the director and Zishan and chatted for five or six hours. Everyone suppressed their emotions about the scene and found their own resonance and stimulation points. In fact, although Yang Hua was a little intense and extreme at that time, he was angry again, and all of them were not very valuable. It can be seen that he still cherished this family in his heart. "
Wang Hailin, a well-known screenwriter, attended the meeting of Wuhai. He said that he had seen it as early as the Hainan Island Film Festival. Up to now, some plots still linger in his mind. The greatness of "afterstrength" can be seen. Wang Hailin believes that Wuhai has the rare characteristics in contemporary realistic works. "The predicament it describes is realistic, profound and accurate. It has turned absurdity into a part of life through symbolism such as extinct dinosaurs and tents in the desert." In addition, regarding how to "have a good quarrel between husband and wife and have something to talk about", guest Zhang Zhanling also revealed the secret of getting along with her foreign husband. "Thanks to the language barrier, I can think for three seconds before quarreling every time." The humorous tricks that appeared on the scene made the scene laugh constantly.
Huang Xuan Tumen’s interpretation of Chinese Weng Xu
Wuhai is the director Zhou Ziyang’s second feature film after The Old Beast. In this film, the "Old Beast" Tu played Huang Xuan’s father-in-law, and the opposite play between them also made many viewers feel much expectation-how can the old father-in-law help the son-in-law when he is in desperate situation? The fierce drama conflict will make the performance of "Weng Xudang" extremely tense. Because of money, Yang Hua is caught in many contradictions between career and family, and there is a gap between family of origin and China. In the eyes of the old father-in-law, the son-in-law is his daughter’s true love, but his debt-ridden, career failure has become the root of family misfortune. Can borrowing money again and again solve all the problems? The old father-in-law is angry with him. This moral dilemma has also triggered a hot discussion on the spot: should friends borrow money? From love to marriage, is it really "a match made in heaven is not as good as a match"?
Director Zhou Ziyang said: "In front of friends, lovers and family, if money is the core of value, it will bring great harm, and many of us also have this kind of’ hurting empathy’, so I hope that the audience will see a kind of alert beyond numbness in Wuhai." After discussing the "Yang Hua" in the story, Huang Xuan also brought a motto of life-"Compared with those external frames, whether two people have the same understanding of the world and life may be more important." Screenwriter Wang Hailin said: "Behind the door is the running-in cost of two families, which can make people see the root of a value evaluation system, which is also a style of Wuhai as an author film."
The film Wuhai is produced by Juben (Shanghai) Film Co., Ltd., Old Beast (Shanghai) Film Co., Ltd. and Beijing Capture Legend Culture Media Co., Ltd., and jointly produced by Shanghai Xuanxuan Film and Television Culture Studio, Inner Mongolia Mihe Culture Media Co., Ltd., Beijing Yuanheng Film Culture Media Co., Ltd., Zhenjiang Tianying Film Culture Media Co., Ltd., Beijing Handed down Glory Media Culture Co., Ltd. and Beijing Juben Culture Media Co., Ltd., which is also a promotion of Shanghai film. On October 29th, Wuhai will officially land in the national cinema, so stay tuned.
On June 16, 2017, Shanghai Pearl River Creative Center set up a venue, where Tencent brand launch conference was held. Touch Music, as an invited media, participated in the press conference and press conference, and presented first-hand information here.
Tencent has invested more than 10 years in e-sports. In 2016, LPL (League of Legends Professional League) saw 5 billion people watching the game, while in 2017, KPL (the glory of the king Professional League) saw 15 million people watching the game on the first day. At the same time, in the "2017 China E-sports Industry Report", it was shown that the e-sports audience reached 335 million people worldwide, of which China accounted for 220 million; E-sports in China is no longer an accessory of a certain type of game, but an industrial system, which belongs to the golden age of e-sports.
Conference site
In the words of Cheng Wu, vice president of Tencent Group and CEO of Tencent Pictures, China e-sports has gone through three stages from 1998 to today:
Bronze Age 1998-2007: E-sports relies on a single game platform.
Silver Age 2008-2016: The rise of online games promoted the rise of e-sports.
Golden Age 2017- Future: The industrialization and social attention of e-sports are becoming more and more mature.
The e-sports market in China now has a huge user base, and the competition system, as the core of the industry, is becoming increasingly perfect and mature. Together with the accumulated industrial base and social identity, it has a very large development space. The "Five-year Plan" is the plan set up by Tencent Athletic under this background. These five years will start from four aspects: competitions, alliances, personnel training and e-sports industrial park, so as to accelerate the pace of industrialization. Tencent believes that if it develops smoothly, China e-sports has reason to usher in the diamond era and the king era in five years.
"Competing with the Times" is the theme of this conference.
E-sports has been listed as an official sport by the State Sports General Administration in 2003, and the e-sports project is also determined to be on the stage of the traditional sports hall of the Tokyo Olympic Games in 2020. At this conference, Ding Dong, director of the Sports Information Center of the State Sports General Administration, announced that he would reach an overall strategic cooperation relationship with Tencent E-sports, which is good news for the entire e-sports ecology.
The sports information center is actually the e-sports management department. This cooperation means a deeper control of the industry and professional norms, which is of great significance to the conscience development of the platform. Ding Dong believes that e-sports, as a sunrise industry, has brought positive changes to the society. During his research visits to Shanghai, Suzhou and Hangzhou, he can feel the cohesion of this force.
Ding Dong, Director of Sports Information Center of Education General Administration
"I hope that in the near future, e-sports, like football, basketball and badminton, will become a sports event with both professional characteristics and national characteristics. I hope to show the good spirit of the younger generation in China through e-sports. I hope that e-sports born in the Internet era will become a bright business card for a new generation of young people in China. " Ding Dong also expressed his beautiful vision.
Li Gaoli, general manager of Tencent Interactive Entertainment Mobile E-sports Business Department, believes that the e-sports industry is still facing the problems of insufficient professionalism, underestimated commercial value and imperfect ecology. Therefore, it is necessary to explore valuable business models.
The series of League of Legends and the glory of the king are the two main forces of Tencent’s e-sports, and Tencent has begun to make strategic plans for these two single events.
League of Legends will learn from traditional sports and realize alliance operation. Among them, there are three policies worthy of attention: the LPL summer competition will cancel the relegation system, LPL will invite public tenders in detail, and all LPL teams will get permanent seats from 2018; In this way, we can break through the barriers of the event and expand our influence.
From September to November this year, China will also host the 2017 Global Finals. This is the first time that China has hosted the world’s top e-sports events, which will be held in Wuhan, Guangzhou and Shanghai one after another, and finally compete for the finals in Beijing. League of Legends, as a veteran who has experienced and witnessed the development of e-sports in China, still has a large market share. This year, a company jointly owned by Major League Baseball and Disney spent $200 million to buy out the broadcasting rights of League of Legends e-sports league.
Conception of League of Legends
Another product, the glory of the king, KPL League only took 11 competition weeks to make the content broadcast amount reach 2.1 billion, and it took KPL less than one year from its establishment to the offline competition. On March 24th this year, the glory of the king Professional E-sports Alliance was formally established, and began to implement rules including income, salary, return, tripartite economy and vocational training to promote the professionalization process. This MOBA game, which reduces the difficulty of getting started, expands the influence of popular e-sports. Tencent e-sports industry takes this as a starting point and focuses on entertainment cards, so there is a star cross-border program "Assemble!" King. Vivo has also reached a cooperation with KPL, and the customized mobile phone launched for KPL will also face the market in the near future.
In addition, "FIFA Online3" also welcomed the French club Lyon to join, and started the football e-sports league CEFL (China Football E-sports League). Ten super clubs joined in this league and set up their own e-sports club, which formed an online and offline linkage.
Representatives from Tencent E-sports and Super League
Other star products, such as Tencent Chess and Cards, Dungeons and Warriors, and QQ Speeder, are also exploring offline and carnival events. In addition, the "Star Project" for campus and the competitive development and exploration of more products with e-sports potential, such as NBA2K Online and Call of Duty Online, strive to create a multi-domain differentiated overall layout.
As a content provider, VSPN will move into a new production building next month. This production building is praised by VSPN CEO Teng Linji as "the largest and most advanced e-sports event and content production base in the world", which consists of 10 studios, media centers, players’ lounges and other functions. It can not only host competitions, but also broadcast them.
And Teng Linji also said that VSPN is building a large-scale content production team and media resource library, so that the content and creativity produced can be liberated.
Nowadays, VSPN can intervene in 50 live broadcast signals in the live broadcast of the event, and has the first e-sports broadcast vehicle with 4K and 12 fast tracks, and the broadcasting profession has better served the audience.
In this regard, Teng Linji said: "We hope that in the future, the audience can see more e-sports events in various public scenes such as living rooms and bars, and they can have the best viewing experience. The audience of e-sports, like the audience of football and basketball, is entitled to better and more diverse services. "
VSPN, which became famous through the e-sports teaching program "7M Teaching Encyclopedia" and the interactive reality show "FireWire Brothers", has already caught up with the traditional sports program ESPN in just five years.
The gap of e-sports talents in 2017 is 260,000, and there are obvious disadvantages in academic qualifications and professionalism, which is not good news for the booming e-sports industry. Tencent released the "Gathering Plan" at the end of last year, which is a management plan for the whole life training of competitive talents. It will involve curriculum development, textbook compilation, subject research and practice. In elite education, Tencent Athletic has also started field cooperation.
Talent gap in e-sports industry
In April this year, League of Legends co-published The Art of Interpretation with Sichuan University, cooperated with Tongji University to coach athletes, and jointly released E-sports between China and the United States: Foundation, Current Situation and Future Challenges with MIT at the end of 2017.
Lu Jingchao, Dean of Broadcasting Hosting College of China Communication University, and Gao Fei, President of Chaojing Education were invited as guests. China Communication University was the first 211 university in China to introduce competitive courses, while Chaojing Education established e-sports majors in three independent colleges. Lu Jingchao said that he is 60 years old and played the glory of the king for the first time at noon. I don’t know this field, but I have seen people around me’s love for e-sports and the potential of this industry. As an important part of the media, a good explanation can expand the depth and breadth of e-sports, which is why I support the cooperation between the college and Tencent.
Coupled with the derivative open courses and course training, Tencent e-sports has sown seeds in the fields of academic education, vocational education and popular education.
(left) Ms. Lu Jingchao, (middle) Mr. Hou Miao and (right) Mr. Gao Fei.
"If you wanted to be a professional e-sports player ten years ago, you would be regarded as doing nothing; Five years ago, if someone thought that e-sports could form their own industrial chain and could involve the fields of science and technology, sports, culture and entertainment, it would be considered wishful thinking. " This is the feeling of Zhu Yihang, the chairman of Chaojing Mutual Entertainment, as an e-sportsman.
In the concept of the pan-entertainment e-sports industrial park jointly launched by Tencent e-sports and super-competition and mutual entertainment, e-sports is one of the basic links, and will eventually be built into a physical space with the nature of e-sports experience and the function of holding events, which will also involve peripheral sales and leisure entertainment, as well as the e-sports home integrating business office and education. Tencent’s online advantages and super-competition offline advantages are integrated in this project.
Layout of pan-entertainment e-sports industrial park
Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu and Chongqing are the first landing cities of industrial parks, and it is expected that there will be no less than 10 pan-entertainment e-sports industrial parks in the plan. It can be seen that the choice of first-tier cities and the multi-dimensional plate concept make it different from the geographical limitations of e-sports towns and face a wider range of groups, which can be regarded as a creation and exploration of a new ecology of e-sports content.
Gao Li, general manager of Tencent Mutual Entertainment Mobile E-sports Business Department, Hou Miao, deputy general manager of Tencent Mutual Entertainment Marketing Department, and Wu Lihua, CEO of Chaojing Mutual Entertainment, accepted questions from reporters. (The content has been streamlined and refined)
(left) Mr. Hou Miao, (middle) Ms. Gao Li, (right) Mr. Wu Lihua
Reporter: It is rumored that there will be cooperation with WCG. Is it true?
Hou Miao:WCG should be closed now. We are only cooperating with WCG in an event. This year, we also released a more comprehensive plan for future e-sports.
Reporter: Have you considered making a bigger event to accommodate more competitive events?
Gao Li:There shouldn’t be. Based on our understanding of e-sports, content and games are inseparable. We do a lot of events online and offline. In the future, most of our events will be based on Tencent’s own operating game IP.
Reporter: What do you think of the trend of e-sports alliance fever and star-making fever?
Gao Li:Because we will see a lot of our own league events in the past two years, we will constantly optimize its rules. There are some new games, and we have also launched a new alliance system. If e-sports is operated as an ecological zone, the alliance is a very important cornerstone. Star-making is an important link in the whole ecology and entertainment culture. I think the driving mode of fan economy is not artificial emphasis on star-making, but with the advancement of the competition, many star players stand out.
Reporter: Why did you choose Tencent E-sports as the partner of E-sports Industrial Park?
Wu Lihua:Since 2013, we have paid attention to the field of e-sports and explored many business models. We found that the e-sports industry is a young industry and cannot learn from foreign cases. In this way, we can only achieve our goal under the resources of strong alliance. The strongest resource is of course a partner like Tencent. Strong alliance can rapidly promote the development of e-sports, so that we can have an international position. This is our starting point.
Reporter: What are the specific measures of the Star Project?
Gao Li:"In terms of popular layout, we have offline teams in 28 provinces, and online game events cover campuses and Internet cafes."
Reporter: League of Legends events have changed a lot. Does KPL have this consideration? Based on what factors has this home and away system been adjusted?
Gao Li:At present, the home and away system is not promoted as a very important direction. We have some thoughts in this regard. We need to look at some attempts in the whole e-sports system. The mechanism of the alliance will be refreshed every year. At present, we have not made any clear measures.
Hou Miao: I would like to add that the home and away NBA league itself is also implemented, which has a strong physical space attribute and regionality. Our products are all on the Internet, and we will pay more attention to this nationwide or even global fan management. Moreover, the construction of our industrial park and future system are all oriented to China, and even we will develop abroad in the future, so in fact, the home and away system of League of Legends is an attempt, but we will pay more attention to online and offline in the future, but we will not just stick to traditional sports to learn.
Reporter: Is the reason why the EDG team didn’t put its headquarters in Guangzhou because Guangzhou is not very developed now?
Wu Lihua: If EDG Club is one of the layouts in our super-competition and mutual entertainment club plate, our initial stage is in Guangzhou. Because the whole e-sports development at that time was the reason why a very spontaneous market formed and gathered in Shanghai. At that time, the e-sports events, including the overall environment, were all gathered in Shanghai. According to this demand, we also built all the physical spaces of our club headquarters in Shanghai. Of course, for the emotional connection in Guangzhou, we will have more bias and some geographical attributes in the Guangzhou area in the future, which will be the case.
Reporter: Tencent e-sports also mentioned that LPL and KPL are two drivers. Now there is a view in the industry. Is there a competitive relationship between LPL and KPL? Where is the overall differentiation of the event?
Gao Li:In fact, KPL and LPL are not directly competing products, and the experience given by the two games is very different. Although they all have their own competition systems, the overlap of users they face is not high. When League of Legends began to do professional e-sports, it should be the silver age. In fact, there must be some practices in different times to adapt to the objective situation at that time. Including the NBA league we saw this year, in such a mature system, many rules are refreshed every year, and the e-sports league is the same. Why do we have to keep pace with the times? We have to do a lot to conform to the current rules.
Reporter: I just mentioned LPL and KPL, because the fist figure behind LPL’s League of Legends competition is relatively heavy. Compared with LPL, are some of KPL’s operations in the competition more representative of Tencent’s e-sports brand? What does the glory of the king think about international competitions?
Gao Li:League of Legends and the glory of the king are both owned by Tencent, including the two most important games and events owned by Tencent E-sports. Actually, there is no problem you mentioned. The content of the league matches is slightly different, because League of Legends is a global game, which has a global system to support the global finals in addition to the events in China. In fact, the glory of the king has just started in China, and the whole product has only been on the line for about two years.
Reporter: Next, I want to know if these six cities are self-built or seek cooperation. I don’t know what form you want to develop the industrial park.
Wu Lihua:Chaojing itself has very rich experience in real estate development, but in this project, in fact, we will fully expand our arms, and we hope to work with various cooperative enterprises with resources in society to jointly build such a project. At the present stage, all our preparatory work is to develop this project completely independently, taking this direction as our current work goal, but we very much welcome all parties and resource partners to join this project.
Hou Miao:On the whole, the industrial parks that we (Tencent) cooperated with Chaojing this time will be treated based on our big data. More importantly, we all choose first-tier cities, which is very important. Because we hope that e-sports can become an ecology with more social influence and more future development value, you need to go to the front line and go to the stage with greater influence. In addition, it needs a more complete set. Today, we are in the Pearl River Creative Park, which is their attempt in this field. There are many discussions in the early stage of our future industrial park, and there will be more perfect content and construction than the industrial park we see today. With Tencent’s own online ability, the experience of offline real estate operation with the whole Chaojing Group, and the need to manage the whole park, it doesn’t mean that you can make an industrial park just by getting a piece of land today. There are many venues in the Olympic Games. After the Olympic Games, if there is no good content and operation management, the venues will be abandoned in the future. We don’t want our industrial park to face such a dilemma. We hope that all preparations in the future will be step by step. Once we find the opportunity, online and online work will be carried out much faster than you think.
Reporter: Supercell is also doing e-sports events. Will this brand join the layout of Tencent e-sports?
Hou Miao:Supercell is the company we acquired. Apart from developing and operating our own enterprises, we will also cooperate with many large developers. They will also have a lot of thoughts on their own products and the development of their competitions. We will fully communicate with them. In the future, Tencent e-sports itself is also a rich content platform. We will accommodate all projects and partners, and at the same time, we can also establish a complete ecological package to serve all projects.
Reporter: People often argue about the differences and similarities between e-sports athletes and traditional sports athletes. For example, can e-sports athletes be regarded as traditional sports athletes? Want to know how Tencent e-sports interprets or views the difference between e-sports athletes and traditional athletes?
Gao Li:I think you just talked about traditional sports repeatedly. I think e-sports should be understood as modern sports, because it is also a formal sports event recognized by the State Sports General Administration. We will see that the team spirit and individual hard training in the enterprises including the competition, because the achievements achieved by training, including many in traditional sports, the star-making and fan effect just mentioned, I think many models are very close. So this doesn’t seem to be a problem that bothers us.
Reporter: From the perspective of traditional sports, he has a clear path to become a professional player and an ordinary athlete. I can enter through, for example, a draft, for example, a low-level league and youth tournament. What are the ways for them to become professional players? What advice does Tencent E-sports have for them?
Wu Lihua:Let me answer. You have just mentioned traditional sports all the time. I think it is difficult to distinguish the boundary between traditional sports and e-sports just like Gao Li said that e-sports is modern sports. Why do you have this illusion, and this problem will arise? I come down to it myself, because I am also involved in traditional sports for half a career. Because traditional sports are basically managed by the State Sports General Administration, provincial, municipal and district sports commissions. You mentioned the real traditional sports. Many promotion systems in China are from sports schools, then to sports teams, and then to the corresponding cities and provinces. In the field of e-sports, the Internet brings us a bonus, because all the information is in the background of the game developer Tencent, and then we can find some players we want through some information published online in our club. There is a very clear registration channel for trainees, which also allows aspiring young people to find a very clear door to communicate and contact with us.
Reporter: We are a game media. We just saw that at the press conference, there was a grand vision and a huge plan, and we invested a lot of capital to do this. I know that as Tencent, where is the revenue point of this matter? Growth point? How to get back to Ben? How to make this thing profitable? And in this industrial chain, how to make money together with the upstream and downstream of the industrial chain?
Gao Li:In fact, we were just talking about the business model in e-sports. In fact, we have invested in Tencent for many years. In the past two years, we can see that copyright is a very important aspect, as well as sponsorship. In the past two years, there have been more and more sponsors in our professional leagues, involving more original non-digital industries, and these two pieces will be more. However, we see that there are still many tickets in the late week, including some offline ticket modes, including derivative income, and we will feel that there is still a lot of room in the future. We have a lot of content producers in the whole e-sports ecology, and there are many modules driven by the industry, including many education industries today, so we will feel that the space here is very large.
Hou Miao:Let me give you an example. Our company was founded in 1998. Everyone has read many stories about QQ online. In fact, QQ didn’t make money before. Today, Tencent’s revenue is very large. It’s not that we have sold a lot of money on QQ, but that we have generated many business opportunities based on the users and platforms gathered by QQ and the upstream and downstream industrial chains. From this point of view, there have been many reports just now, both our own research and many external studies have said that the future e-sports industry, whether it is fan economy, related content production, copyright sales, and education, is now online education, offline education, and vocational education. Even today’s industrial parks will generate many business opportunities, and we are in no hurry to make all these clear. Because the benign mechanism of Tencent’s revenue scale and operation today helps us to lay out in the new industry, and what we see is a bigger opportunity. When we hope to achieve a higher level of industrial opportunities, we can discuss with our partners, including Chaojing and even more, how to make the cake bigger in each field. If you divide the cake from the beginning, I think the bigger cake may be missed.
Reporter: Many new games, including some small mobile games, hope to cooperate with Tencent and use this platform to give full play to their advantages. What criteria does Tencent consider when screening partners?
Gao LiI think the most important thing is to look at the products. In fact, we will look at the products instead of the origins. We have some processes such as strict product testing, including our own analysis of different products in different types, because Tencent is a big platform, and we will welcome different types of games on this platform.
Reporter: Many new e-sports stars have been born in the e-sports industry. Recently, the cooperation between traditional entertainment stars and e-sports stars has become closer and closer. Is there a plan to cooperate with stars in the new industrial park?
Wu Lihua:We feel that the entire e-sports industry has a very strong quality content output attribute. In addition to the content of the event, Tencent came out a pan-entertainment part a few years ago. In this process, anyone who focuses on this industry will have people and stars. In the attributes of the stars themselves, recently, because the overall industry is very hot, many traditional variety shows hope to capture the hot spots in this market, and some stars of e-sports will also be invited to enter this cultural field. You said that in the park, these elements are also a part of the park. You just mentioned that it includes some peripheral sales, including some internal activities, and there will be a lot of more e-sports related spaces in it. I think everyone can use this part offline and use the physical space of the park to achieve it.
Hou Miao:I would like to add that I don’t know if you have just noticed that our industrial park is called Pan-Entertainment E-sports Industrial Park. Everything must be carefully planned and realized step by step. We will focus on this aspect at the beginning, and they also have corresponding live broadcasts and artists. Including just now, Mr. Wu also said that EDG Club also has related star players and commentators, and they will gradually discover their acting careers, and there are many platforms including movies and television, stage performances, etc., all of which are the objects of our cooperation. These will create a more complete or diversified development path for all cooperative enterprises in the whole industrial park, including these stars produced in them, so I think the future is actually very possible, but today we hope to focus on the creation of e-sports content ecology step by step, and gradually introduce pan-entertainment methods and our partners.
Wechat is a social platform that we often use in our lives, where we can also send text, pictures, voice, files and many other contents. What should some friends do if they want to switch the input method of WeChat? Let’s take a look at it with Xiaobian!
Introduction to WeChat Setting Input Method Course
1. Open the WeChat app, bring up the keyboard on the chat page, and click the keyboard icon.
Economic Observer reporter Hu Yanming Intern reporter Li Jiayi "The Bank of Japan is going to raise interest rates!" At noon on March 19th, Lin Bing, who was working in Yokohama, Japan, received a message from her domestic friends. Her heart was shocked, and her first reaction was to worry about whether the mortgage would be affected. Because when she signed a loan contract with the bank a few years ago, she chose to change the interest rate.
The Bank of Japan’s interest rate hike is regarded as a historic change. On March 19th, the Bank of Japan announced that it would raise interest rates by 10 basis points, raising the benchmark interest rate from -0.1% to 0-0.1%. This was the first time that the Bank of Japan raised interest rates in 17 years, ending the negative interest rate policy that lasted for 8 years.
This rate hike by the Bank of Japan is not sudden, but has been brewing for a long time. In the past many years, the Bank of Japan has continued its large-scale stimulus policy and ultra-low interest rate policy, hoping to boost the economy. Since 2022, Japan’s economy has undergone a series of positive changes, which seems to be coming out of the shadow of deflation. Many viewpoints believe that it is time for Japan to withdraw from the "ultra-loose policy".
When to withdraw from negative interest rates, the Bank of Japan seems to be concerned about whether a virtuous circle has been established between wages and prices.
At the end of 2022, Goldman Sachs Group and Nomura Securities, Japan’s largest securities institution, "fought against Taiwan" from a distance as to whether the Bank of Japan’s monetary policy turned. NaohikoBaba, Japan’s chief economist at Goldman Sachs Group, said in a research report that the possibility of the Bank of Japan abandoning the negative interest rate policy has increased; KyoheiMorita, chief economist of Nomura Securities, pointed out in the report that the policy interest rate of the Bank of Japan is expected to remain unchanged in 2023.
Since 2023, the Bank of Japan has repeatedly fine-tuned the ultra-loose monetary policy, and when to end negative interest rates continues to attract the attention of global financial markets. To be sure, 2024 will be a year of great changes in Japan’s macro and micro structures.
In the past two years, Shanshan, who works in a real estate brokerage company, has opened the Yahoo news interface on TV every once in a while, and she can see reports about the Bank of Japan’s interest rate hike. The comments below these news have been very enthusiastic.
A few days before the decision to raise interest rates was officially announced, she saw a news story about Japan’s possible interest rate hike on the homepage of Yahoo News in Japan, and there was a vote after the article. About 14,000 people participated in the voting: about 50% of the voters think that raising interest rates is a good thing and valuable; 22% think that raising interest rates is not good; About 28% don’t evaluate. "This price should be stable, and finally it will not continue to soar. This is the psychology." Shanshan summed up the feelings of friends around her about raising interest rates.
Will prices stabilize if interest rates are raised?
Shanshan, who lived in Japan in the second half of 2022, felt that she was catching up with the wave of price "take-off".
In 2019, she traveled to Japan several times. At that time, the price of a box of eggs was about 100 yen (usually 10 eggs, about 5 yuan RMB). Soon after she moved to Japan, the price of a box of eggs had risen to around 200 yen.
Shanshan’s personal experience is basically consistent with the official data. According to data released by the Ministry of Internal Affairs and Communications of Japan, Japan’s core consumer price index (CPI) in fiscal year 2022 (April 2022 to March 2023) increased by 3.0% over the previous fiscal year, the largest increase since fiscal year 1981. In 2023, Japan’s CPI rose by 3% year-on-year.
Shanshan observed that the Japanese locals also reacted greatly to the price increase. They felt that it had gone up too much. Why did the price of eggs go up so high and so much personal income tax was levied?
This year is the tenth year since Lin Bing came to Japan, and she feels that prices are rising little by little. In recent days, Lin Bing collected and sorted out a magazine he often bought, and found that the price of this magazine was 550 yen in 2019, 590 yen in the second half of 2021, 610 yen in 2022, and now it sells 640 yen.
Japanese residents who have been in deflation for a long time have found that the price level has risen unconsciously.
Compared with rising prices, people are more concerned about whether wage income can rise. Since the bursting of Japan’s economic bubble in 1990, prices, wages and house prices have all stagnated and fallen into deflation. It was not until the last two years, under a series of stimulus policies, that the wage level in Japan began to increase steadily.
Rengo, Japan’s largest trade union organization, announced the results of the first round of "Spring Fight" (spring salary negotiation) on March 15th, 2024. The salary increase (including salary increase based on seniority) reached 5.28%, the largest increase since 1991, higher than 3.8% in 2023.
Many large Japanese companies also announced their salary increase plans around the "Spring Fight". On March 11th, ANA responded to the trade union that it would increase the monthly basic salary by 11,000 yen through this spring’s activities. If an agreement is reached, this will be the highest increase since 1991. Large Japanese companies such as Toyota Motor Corporation and Nissan Motor Corporation put forward the biggest salary increase in decades in the annual salary negotiation on March 13th.
On March 21st, Sony announced that it would raise the salary level of employees from FY 2024. For full-time employees at the director level, the maximum monthly increase is more than 50,000 yen, and the wage increase level is the same as that in 2023. The starting salary of new employees will also be increased by 10 thousand yen on the current basis.
Two years ago, Japan’s game industry raised wages for new employees (that is, fresh graduates) and raised the basic salary. Not only the new employees, but also the salaries of the old employees have increased steadily. Lin Bing roughly calculated that after joining the company, it will increase by about 10% every year.
Japan’s policy goal is to achieve a virtuous circle between wages and rising prices. In an interview with this newspaper, Nobuyichi Murao, chief investment officer of Nomura Asset Management Japan Initiative Stock, said that if the wage income of employees in the company can continue to rise, another kind of inflation will be formed, because higher income can buy more things, and enterprises can sell more things, or the price of selling things can be raised, which forms a benign inflation mechanism. If this mechanism can continue to develop, the Bank of Japan will change its loose monetary policy.
At the press conference on monetary policy held on the afternoon of March 19, 2024, Ueda Kazuo said that loose conditions will strongly support the economy and prices. "If necessary, we will consider all-round loose options, including the means used in the past." He also said that the pace of further interest rate hikes depends on the economic and price prospects.
A "visionary" decision to buy a house
The day after the Bank of Japan announced its decision to raise interest rates (March 20th), it happened to be a "red day" (that is, a holiday in Japan). Lin Bing hasn’t had time to consult with the loan bank. How much will this change increase his repayment cost?
In September 2022, Lin Bing bought his first house in Yokohama. After finding her favorite job, she decided to stay here for a long time.
Prior to this, Japanese housing prices had been depressed for a long time.
With the support of parents to help pay the down payment, Lin Bing didn’t consider too many market factors. In mid-2022, Lin Bing began to look at the house after obtaining the qualification of permanent residence in Japan, and it was finalized at the end of September. At that time, the house price was 52 million yen (about 2.48 million yuan), the loan was 36 million yen, and the mortgage was 35 years, and it was about 100,000 yen per month. When signing the loan contract, the annualized interest rate as low as less than 0.3% impressed Bing the most. In her view, this is close to no interest. Moreover, Japan has a tax-free policy for mortgage loans in the first ten years to encourage people to buy houses.
Not long ago, a Japanese friend suddenly praised Lin Bing for his foresight. He bought the house a few years ago, because the house price has risen again recently. This friend took a fancy to a house in Tokyo before, and now the house price has doubled, and he regrets not buying it.
From the relevant data, we can also find that the long-frozen Japanese house prices are warming up.
According to Kyodo News, in 2023, the average house price in the 23rd district of Tokyo, known as the barometer of Japanese house prices, increased by 39.4% over the previous year, reaching 114.83 million yuan (about 5.55 million yuan), setting a new record in 2022.
Shen Jianguang, chief economist of JD.COM Group, observed that the housing prices in Tokyo are overheating, and the myth that the high-end housing prices in downtown Tokyo have doubled in more than a year. For example, a 300-square-meter high-rise apartment in Tiger Gate, Tokyo, was worth more than $10 million in early 2022, but now it has soared to more than $20 million.
Close to interest-free loans, buying a house in Japan may be more cost-effective than renting a house, because the monthly payment may be lower than the rent. But even so, Lin Bing feels that his colleagues around him are not in a hurry to buy a house.
Japanese who have experienced the real estate bubble seem to be less enthusiastic about home ownership. Shanshan’s customers are almost all from Chinese, mostly from the first-tier cities in China, while there are almost no local Japanese buyers.
Most of these China customers buy more than one house, and some will buy several houses at one go. Moreover, the housing price is relatively high, and the total price mostly exceeds 50-70 million yen (about 2.4-3.3 million RMB). This is already a relatively high total price in Japan.
Judging from the company’s business data, Shanshan feels some changes. Company executives stressed that this period is the Japanese Cherry Blossom Festival (from March 15th to April 15th every year) and the May Day holiday coming to China soon, so a large number of China tourists may be welcomed. Employees should take it seriously, sort out the existing and potential customer information, match the housing for customers in advance, and it is best to have relevant plans.
Rising stock market and falling exchange rate
It is not only the Japanese real estate market but also the Japanese stock market that welcomes capital inflows.
Since 2023, the Nikkei 225 index began to climb sharply, reaching a high of 30,000 in May 2023. According to market evaluation, the Japanese stock index recovered its "lost thirty years" in one fell swoop.
On February 22, 2024, the Nikkei 225 index closed at 39,098.68 points. The last high point of the Nikkei index appeared on December 29, 1989. On that day, the Nikkei index closed at 38,915.87. On March 4th this year, the Nikkei 225 index broke through the 40,000-point mark for the first time in history. On March 19th, after the Bank of Japan announced a rate hike, the Nikkei 225 index turned red and returned to above 40,000 points.
Shanshan regrets not buying stocks early, but she is not sure whether she will "take over" at a high level when entering the market.
The steady rise of Japanese stocks is inseparable from the expectations of overseas investors on the market. Buffett’s action in the Japanese market has attracted the attention of the whole world. In 2020, Berkshire led by Buffett entered the Japanese market and held 5% shares of five major trading companies; In April 2023, Buffett visited Japan again after a lapse of 12 years, and announced that he would increase his holdings of five major trading companies, which continued to push up the popularity of the Japanese stock market.
The latest trading trends of various investment departments announced by Tokyo Stock Exchange show that in 2023, overseas investors bought a net amount of 3.1215 trillion yen, which reached a new high since 2013 in the early days of "Abenomics". Previously, overseas investors sold Japanese stocks for two consecutive years and sold 1.8 trillion yen in 2022.
Contrary to the performance of the stock market, the Bank of Japan raised interest rates for the first time in 17 years, but the yen fell instead of rising in the foreign exchange market. On March 19th, the yen depreciated by 1.12%, falling to the lowest level in nearly four months.
When Lin Bing first arrived in Japan in 2014, only 600 yuan could be exchanged for 10,000 yen. Now, he only needs about 480 yuan RMB.
In recent years, the falling exchange rate has caused a large number of European and American tourists to flood into the Japanese market for tourism or consumption. Lin Bing found that friends around him discussed the exchange rate very highly, but rarely discussed raising interest rates. Many local people think that they have been treated unfairly, and their life as a country is getting harder and harder, while foreigners come to travel and buy things cheaper.
After the interest rate hike, the yen fell instead of rising. Shen Jianguang felt that there were reasons for this meeting’s partial attitude, but more reflected the triple worries about the Japanese economy.
He analyzed that, first of all, Japan’s monetary policy is still dovish, and the turn of this monetary policy has lagged behind the trend of economy and inflation. Faced with the trend of economic growth, inflation and asset prices rising in an all-round way, the Bank of Japan is relatively cautious, not optimistic about the economic prospects, and believes that it still needs to improve its growth resilience. Ueda Kazuo said that a loose monetary environment will be maintained for the time being, and if necessary, the Bank of Japan will consider a wide range of policy easing options, including tools used in the past. Japan’s monetary policy has turned relatively passive, and it is expected that the probability of preventive interest rate hikes in the short term is not high.
The second worry is that the market is not confident enough about the endogenous kinetic energy of the Japanese economy, mainly because it is pessimistic about household consumption expenditure. With the rising inflation, the consumption power of ordinary Japanese families is limited. As of January 2024, the household consumption expenditure of two or more people was actually negative for November. In the fourth quarter of 2023, Japan’s private consumption decreased by 0.3% month-on-month, which significantly dragged down the GDP (gross domestic product) of the quarter. With the shift of monetary policy, Japan’s commodity price advantage weakens, and exports may be under pressure. It remains to be seen whether personal consumption can support economic growth between the "Spring Fight" salary increase agreement and the actual salary increase.
The third worry is that Japan’s structural problems, such as aging and declining birthrate, will not change. According to the "population speculation" data of the Japanese Ministry of Internal Affairs and Communications, it is estimated that by 2030, the proportion of the elderly population over 65 will reach 32%, and in 2005, the figure was only 20%. The shortage of labor force is the first dilemma faced by an aging society. At present, the potential labor force (population aged 15 and above) will drop rapidly around the end of 2021, and the job market will face long-term labor shortage pressure.
There are many elderly people in the Tokyo metropolitan area where Lin Bing lives. A few days ago, she asked for leave to go to the hospital on weekdays and found that there were almost no young people in the hospital, all of them were elderly people. Moreover, Lin Bing noticed that the fertility rate of young people in the company is relatively low, and young people with children are a minority.
Economic warming
After living in Japan for ten years, Lin Bing didn’t experience the social atmosphere after the initial bubble economy burst, only occasionally heard a few words from his predecessors.
Last year, Lin Bing’s minister (equivalent to the general manager of the domestic department) asked her if she wanted to go to other developed countries for development. This company has branches in Europe, America, Southeast Asia and other countries and regions. The minister can help recommend her to work in overseas branches.
In his view, Japan is a relatively flat country, and the economic situation has not been very good. When Lin Bing started his career in Japan, he might not feel the atmosphere in which everyone worked hard. However, other countries, such as Singapore, have a booming economy, and going to these places will help her future career.
This minister is in his fifties, approaching retirement age, and has experienced Japan’s "lost thirty years". He told Lin Bing that when he was young, everyone was working hard, passionate and energetic. Now, young people are in a relatively depressed social atmosphere.
In the late 1990s, Japan was mired in deflation. Although the Japanese government has tried many policy tools, it has never seen obvious improvement.
Now, according to various data, the Japanese economy seems to have reached its best period in more than 30 years. In the fourth quarter of 2023, Japan’s GDP returned to the positive growth range of 0.4%, and the economy improved moderately. The nominal growth rate of GDP for the whole year reached 5.7%, the highest point since 1992, and the real growth rate of GDP was 1.9%, which was also a high level in recent years. Corporate profits have maintained rapid growth. Since 2021, the overall profit center of Japanese enterprises has changed from negative to positive.
Has Japan really come out of the 30-year deflation quagmire? Zhao Yaoting, global market strategist in Jing Shun Asia-Pacific (excluding Japan), told the Economic Observer that the Bank of Japan’s decision to gradually normalize monetary policy is a positive development. This normalization may boost market confidence, and the first rate hike in 17 years sends a strong signal that Japan’s economy no longer needs such a high level of support, because its own situation has improved and is expected to continue.
On the weekend of March 16th and 17th, Shanshan’s friends traveled from China to Japan. They walked all the way from Meiji Jingu to Shibuya Station, and the road was crowded with people. Tourist teams from Europe, America, Southeast Asia and other regions gathered in several popular scenic spots in Japan. "It’s ridiculous. Perhaps this time is quite special, it is the cherry blossom festival in Japan, and it is estimated that there will be more people in the next two weeks. " Shanshan said.
According to data released by the Japan Tourism Agency, in 2023, the number of foreign tourists visiting Japan reached 25.066 million, exceeding 20 million again after three years.
Shanshan found that the current crowded scene in Japan is completely different from the previous two years-since last year, customers have to wait for meals in many restaurants, especially near scenic spots; Popular shopping centers need to queue up, and some stores need to limit purchases, make reservations or even draw their shopping qualifications by luck, which seems to be a sight that did not exist before the COVID-19 epidemic. "Consumption is so hot, economic recovery should not be a problem?" Shanshan said.
(At the request of the interviewee, Lin Bing and Shanshan are pseudonyms.)
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Generally speaking, the driving mode of KIA EV5 is very flexible and can be selected according to personal preference. Whether on urban roads or highways, it can provide a comfortable or intense driving experience. It should be noted that in order to ensure driving safety, don’t switch driving modes frequently during driving.
1905 movie network news At noon on May 13th, Fan Bingbing’s studio issued a statement in the Weibo, stating that Fan Bingbing had never appeared in the movie "Let’s Fall in Love", and reserved the right to pursue legal responsibility for the wanton propaganda of merchants. According to the screenshot of "false rumors" posted by Fan Bingbing’s studio, the legendary "Let’s fall in love" will be performed by Fan Bingbing and Kim Soo Hyun. Now that the rumor has been broken, some netizens said: Professor Du was also shot while lying down.
A few days ago, there was a rumor in Weibo that a brand named "The Clean Fruit of the Third Meal" would be implanted in the new film "Let’s Fall in Love" co-produced by Kim Soo Hyun and Fan Bingbing, and said that "the contract has been signed" and openly solicited agents to join; The producer of the "film" is "Beijing Zhongchuan Cube". According to the information on the Internet, the company is not involved in the film field, and most of the film and television projects it mainly participates in are TV dramas such as Lock Clear Autumn.
At noon on May 13th, Fan Bingbing’s studio made a formal response and issued a statement saying that the news was untrue, and called on netizens not to be fooled by the wanton propaganda of some businesses, "beware of being deceived". At the same time, Fan Bingbing will reserve the right to pursue legal responsibility. Later, Fan Bingbing himself forwarded the Weibo. A large number of netizens said in their comments that "the goddess is too famous, and it is inevitable that unscrupulous merchants will use it to speculate", and some netizens laughed and said: "All professors are also shot while lying down."
In addition, Fan Bingbing’s studio also said that Fan Bingbing left Shanghai for the 68th Cannes Film Festival on the evening of May 12th. As a frequent visitor on the red carpet of Cannes Film Festival, Fan Bingbing once produced "representative works" such as dragon robes, crane costumes and blue and white porcelain. However, at this Cannes Film Festival, Fan Bingbing was still invited by the brand, and the new look of the red carpet was highly anticipated.
Zhongxin Jingwei, January 24 th, RRR cut+targeted interest rate cut is coming!
On the 24th, the State Council Office held a press conference on the implementation of the deployment of the Central Economic Work Conference and the high-quality development of the financial services real economy. Pan Gongsheng, governor of the central bank, said at the press conference that the deposit reserve ratio will be lowered by 0.5 percentage points on February 5 to provide the market with long-term liquidity of 1 trillion yuan; On January 25th, the interest rate of refinancing and rediscount for supporting agriculture began to be lowered by 0.25 percentage point, and at the same time, the comprehensive financing cost of society will continue to be steadily reduced.
Provide long-term liquidity of 1 trillion yuan.
Pan Gongsheng pointed out that at present, there is still enough room for China’s monetary policy. Relevant departments will balance the relationship between short-term and long-term, steady growth and risk prevention, internal balance and external balance, strengthen countercyclical and inter-cyclical adjustment, and create a good monetary and financial environment for economic operation. At present, the average level of China’s statutory deposit reserve ratio is 7.4%, which is still relatively large compared with the central banks of major economies in the world. This is an effective tool to supplement the long-term liquidity of the banking system.The deposit reserve ratio was officially implemented on February 5, with a reduction of 0.5 percentage points, which will provide the market with long-term liquidity of about 1 trillion yuan.
Pan Gongsheng said that in terms of interest rates, the operation of monetary policy insists on focusing on me. There is still a distance between the current price level and the expected price target. In November and December, 2023, major domestic banks lowered the deposit interest rate. Starting from January 25th, the interest rate for small loans and rediscounts provided to financial institutions will be lowered from 2% to 1.75%.All these measures will help to promote the loan market quotation rate, which is the downward trend of LPR."The market generally expects that the shift of the Fed’s monetary policy will objectively help China expand the operating space of monetary policy." Pan Gongsheng said.
Source: Central Bank website
Later that day, the central bank issued relevant announcements and said that it would fully implement the spirit of the Central Economic Work Conference and the Central Financial Work Conference, and conscientiously implement the decision-making arrangements of the CPC Central Committee and the State Council.Implement a prudent monetary policy flexibly, moderately, accurately and effectively, and intensify macro-control.Strengthen counter-cyclical and cross-cyclical adjustment,Maintain a reasonable and sufficient liquidity, promote the matching of social financing scale and money supply with the expected targets of economic growth and price level, maintain the basic stability of RMB exchange rate at a reasonable and balanced level, and continue to promote the effective improvement of quality and reasonable growth of the economy.
"timely rain",Boost market confidence
When it comes to RRR cuts,Yang Delong, chief economist of Qianhai Open Source Fund.Call it "timely rain", which is the central bank’s policy to support the development of the capital market and will help boost market confidence.
existMingming, chief economist of CITIC SecuritiesIt seems that in terms of operation mode,It is relatively rare for central bank leaders to directly announce the RRR cut at a press conference.In the past, it was customary to mention the use of deposit reserve tools in media interviews; On the other hand, in the four rounds of operations since April 2022, the central bank’s single RRR cut has narrowed to 25bps, and this RRR cut has expanded to 50bps.
"Overall,The timing and scale of this RRR cut have greatly exceeded market expectations.It shows that the central bank clearly supports the goal of repairing the real economy. In January, there was a big liquidity gap in the environment of seasonal increase in cash demand. Near the end of the month, the capital interest rate center rose. It is expected that the liquidity environment will be further improved after the RRR cut. "Yao said.
Obviously, it is emphasized that the RRR cut and the refinancing rate cut were announced at the same time. Although there was an operation mode of RRR cut+targeted cuts to required reserve ratios in history,However, the mode of "RRR cut+targeted interest rate cut" is rare, indicating the precise and effective tone of the central bank’s monetary policy;This RRR cut may or may not be the last aggregate operation in this round of wide currency cycle.
Chang Yang, Chief Analyst of Policy Group of Zhongtai Securities Research InstitutePointed out to Zhongxin Jingwei that at the aggregate level,Releasing long-term liquidity is conducive to preventing capital shortage at the beginning of the year and creating a better monetary environment.From the historical data, January was a relatively high level of new RMB loans, for example, it reached 4.9 trillion yuan in January 2023, which was obviously higher than other months of the year. Lowering the deposit reserve ratio in advance to release the corresponding liquidity is conducive to avoiding the shortage of funds, achieving a red start for the economy at the beginning of the year and creating a more favorable monetary environment.
At the structural level, this move further strengthened inclusive finance. Chang Yang pointed out that while reducing the deposit reserve ratio and realizing abundant liquidity, it also further lowered the price of funds. Starting from January 25th, it lowered the interest rate of small loans and rediscounts for supporting agriculture by 0.25 percentage points, which is conducive to further reducing the financing cost. At the same time, the press conference of the State Council Office also mentioned relaxing the recognition standard of inclusive micro-credit from the current single-family credit of no more than 10 million yuan to no more than 20 million yuan, which fully reflected the five major directions put forward by the Central Financial Work Conference. "Further easing of monetary policy and focusing on both aggregate and structure will help create a good monetary environment for the short-term repair of economic fundamentals." Chang Yang said.
Wang Qing team, chief macro analyst of Oriental JinchengIt is pointed out that this RRR cut is in line with market expectations, and the rate of RRR cut has increased, which has released the signal that monetary policy will increase its strength and steady growth, which will help boost market confidence and consolidate the good momentum of economic recovery.
With regard to the announcement by the central bank that it will reduce the interest rate of re-lending and re-discounting small loans to support agriculture by 0.25 percentage point on January 25th, the Wang Qing team said that this shows that in addition to launching the aggregate monetary policy tool, the structural monetary policy is also focusing on the weak links of the national economy, and the tax reduction and fee reduction policy for small and micro enterprises in the later fiscal policy will also be launched in due course.
Team Wang Qing also said that it is also urgent to reduce the real interest rate by lowering the policy interest rate and guiding the nominal loan interest rate downward. Considering the economic and price trends in the first quarter,In the short term, MLF interest rate may be lowered, and the expected rate of interest rate reduction is 0.1 to 0.2 percentage points."This will lead to the simultaneous downward adjustment of LPR quotations for one year and more than five years, and promote the steady decline of social comprehensive financing costs, thus effectively stimulating consumption and investment demand. Moreover, the downward adjustment of LPR quotation will bring pressure on banks to narrow the net interest margin, and the next step will continue to be solved by lowering the deposit interest rate. " (Zhongxin Jingwei APP)
(The opinions in this article are for reference only, and do not constitute investment advice. Investment is risky, so you should be cautious when entering the market. )
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Military News reporter Guangzhou Branch (Zeng Qiwen Huo Dongxing) In late June, at a preparation meeting for a cross-day flight training of a land aviation brigade in the Guangzhou Military Region, the pilots participating in the training had a copy of "Special Handling Formula". Different from the complicated special handling process in the original Flight Driver’s Manual, the special handling formula scientifically simplifies the helicopter special handling procedure, and simplifies the special handling process of nearly 10,000 words into an 88-word formula.
