On the first day of Tesla’s founder and CEO Elon Musk’s arrival in China, Tesla welcomed the benefits.

　　On April 28th, China Automobile Industry Association and National Computer Network Emergency Technology Processing Coordination Center issued the Notice on Testing Four Safety Requirements for Automobile Data Processing, and all the models produced in Tesla Giga Shanghai met the compliance requirements. Previously, Tesla had realized local data storage in Tesla Shanghai Data Center in 2021. In addition, Tesla introduced a third-party authority to audit the company’s information security management system and passed the security management system certification (ISO27001).

　　Musk said on the social platform on April 28 that Tesla will invest about 10 billion US dollars in AI training and reasoning in 2024, and the latter is mainly used for automobiles. If any company can’t reach this level of expenditure and can’t spend efficiently, it can’t participate in the competition.

　　Six car companies, including Tesla, passed all four requirements of national automobile data security.

　　At the invitation of the China Council for the Promotion of International Trade, on the afternoon of April 28th, Tesla founder and CEO Musk arrived in Beijing. Musk said that he was glad to see the progress of electric vehicles in China, and all cars will be electric in the future. On April 28th, Tesla issued a document saying that it will continue to deepen its cultivation in China, develop together with the industry in the fields of artificial intelligence, electric vehicles and energy storage, accelerate the landing of clean energy and autonomous driving technology, and turn the beautiful vision into reality.

　　On April 28th, the Technical Department of China Association of Automobile Manufacturers disclosed the notification on the detection of four safety requirements for automobile data processing (the first batch). According to the report, there are six car companies, including (), Ideality, Lotus, Hezhong New Energy, Tesla and Weilai, and a total of 76 models meet the four compliance requirements for automotive data security.

　　According to the circular, in order to standardize automobile data processing activities, protect users’ legitimate rights and interests, encourage head car manufacturers to play a role as a benchmark, and promote the formation of a good environment for the whole society to jointly safeguard automobile data security and promote the development of the automobile industry, China Automobile Industry Association and the National Computer Network Emergency Technology Processing Coordination Center are based on the "Several Provisions on Automobile Data Security Management (Trial)" and GB/T 41871-2022 "Information Security Technology Automobile Data Processing Safety Requirements" and other laws and standards, and in accordance with the principle of voluntary inspection by enterprises. Since November, 2023, we have organized the inspection of automobile data safety compliance of newly listed intelligent networked vehicles of automobile manufacturers in 2022-2023. This test covers four compliance requirements, such as anonymous processing of external face information, default not to collect cockpit data, in-vehicle processing of cockpit data, and significant notification of personal information.

　　Notice on the Detection of Four Safety Requirements for Automobile Data Processing disclosed by the Technical Department of China Automobile Association

　　Some senior auto industry analysts analyzed the Shanghai Stock Exchange reporter, and this incident released two signals: 1. The state has formulated clear rules for auto data security. 2. All car companies are treated equally before the rules, including wholly foreign-owned car companies. "Obviously, this will help foreign investors to invest in China and further expand their investment in China. At the same time, it also shows that the state has been making efforts to improve the foreign investment environment. "

　　Tesla FSD landing requires data acquisition and other preparations.

　　On April 28th, Musk, who just arrived in Beijing, said on social media that Tesla will invest about $10 billion in AI training and reasoning this year, and reasoning is mainly used in cars. Musk said that any company that spends less than $10 billion a year or cannot deploy it efficiently cannot compete in the market.

　　In January, 2024, Tesla added $500 million in new investment and purchased about 10,000 NVIDIA H100 GPU for the training of autonomous driving. According to statistics, Tesla may have more than 30,000 H100 GPU. Musk recently said that Tesla may be the second company with the number of H100 GPU in NVIDIA, second only to Meta, and xAI ranked third.

　　Tesla’s heavy investment in AI is aimed at the future business opportunities of autonomous driving. Musk said that Tesla will launch a driverless taxi on August 8, 2024. Recently, Tesla gradually began to push to North American users on a large scale based on end-to-end FSD V12. FSD V12 achieves the goal of autonomous driving through a large amount of video training data, which enables Tesla to save hundreds of thousands of lines of code. However, training such AI autopilot requires a lot of computing power. Musk said in August, 2023 that Tesla will soon launch a GPU cluster consisting of 10,000 NVIDIA H100′ s to train the new FSD system.

　　In terms of price, just in April, Tesla lowered its offer for FSD(Full-Self Driving, referred to as "FSD") twice to attract users. Just a week ago, Tesla announced that the price of its FSD system package was lowered by about one-third from $12,000 to $8,000, just after lowering the price of models in the Chinese and American markets. Prior to this, on April 13th, Tesla announced that the monthly subscription price of FSD (supervised) had dropped from $199 to $99, and the subscription price was directly "halved".

　　Musk predicts that Tesla’s FSD test mileage needs to reach 6 billion miles to meet the requirements of global regulators. The data released by Tesla on April 6 shows that the actual test mileage of FSD is 1 billion miles. At present, Tesla FSD has been upgraded to the end-to-end version of V12.3, no longer relying on traditional rule codes, but relying entirely on neural networks and data drivers.

　　According to industry experts, if Tesla FSD lands in China, the data collection, model training and computing center will be regarded as the key. () The research report points out that if FSD is popularized in China, the whole set of closed-loop data needs to be made in China, and preparations should be made in terms of data collection and model training, and whether the BEV sensing scheme can be well adapted locally should be considered. In China, FSD mapping may need to cooperate with China manufacturers, and Tesla needs to set up a local computing center and a local algorithm adaptation team.

　　Us regulators release Tesla Autopilot survey summary report

　　The National Highway Traffic Safety Administration (NHTSA) revealed last Friday that it has started a new investigation into Tesla. The survey covers Model Y, X, S, 3 and Cybertruck vehicles equipped with Autopilot, which were produced in the United States from 2012 to 2024.

　　At the same time, NHTSA has launched an investigation into Tesla’s Autopilot recall in December last year. The agency found that the Autopilot autopilot system could not fully ensure the driver to concentrate on the driving task, and it would lead to the driver’s overconfidence in the function of the system. According to the report, these factors led to foreseeable misuse and avoidable accidents, of which at least 13 accidents involved one or more deaths.

　　NHTSA concluded that there was a "critical safety gap" between the driver’s ability expectation of Tesla Autopilot system and the real ability of the system, which led to a series of avoidable accidents. Tesla conducted a recall of 2 million American Tesla vehicles in December last year, and improved the driver monitoring system of these vehicles through software upgrades.

　　Tesla’s share price closed down 1.11% last Friday, with a cumulative decline of more than 30% this year. Tesla’s previously released financial report for the first quarter of fiscal year 2024 showed that the revenue in the quarter fell by nearly 9% year-on-year, the decline in revenue was the highest in 12 years, and the net profit dropped by 55% year-on-year. The key indicators of the financial report were all lower than expected.

　　According to another report, US Securities and Exchange Commission (SEC) documents show that Drew Baglino, a former senior vice president of Tesla who announced his resignation earlier this month, sold about 1.14 million shares of the company, with a total value of about 181.5 million US dollars. According to the document, Baglino also reduced its holdings of Tesla shares twice this year, with a total value of about 4 million US dollars.

　　Examined by: Zhu Jianhua Producer: Zhang Xiaoguang Issued by: Lin Yanxing.

Special feature of 1905 film network Six days after its release, The Four Kings of Di Renjie in the same period earned 1.447 billion yuan and 409 million yuan respectively, with a gap of more than three times.

Box Office Comparison between The Richest Man in Xihong City and Di Renjie (Source: Taobao Film Professional Edition)

But before the release, the data of the two films were not the same.

As of July 18th, The Four Kings had 37,000 first-day screenings, while the first-day screenings of The Richest Man in Xihong City were only 18,000.

At that time, Tsui Hark’s third Di Renjie series was far ahead of Mahua FunAge’s fourth, whether it was momentum or pre-sale. The latter’s online pre-sale is even just a fraction of the former.

But the data changed on the day of the release. On the day of the release, "Four Kings" opened 115,000 screenings, with a box office of over 100 million. However, "The Richest Man in Xihong City" won twice the box office income of Tsui Hark’s costume fantasy blockbuster with an extra gap of 30,000 games.

Comparison of box office and film arrangement of two films on the first day of release (July 27)

On the morning of 28th, the douban score of "Xihong City" also surpassed "Di Renjie" by 0.1.

We asked a publicist of "The Richest Man in Xihong City", and she revealed that the online pre-sale of the film was really late. However, based on the huge audience, it is not surprising to achieve the current box office results.

　

"Our distribution team went to a city like Qiqihar and found that the cinema was full in the afternoon." She said.

Xiao Dianjun learned that in the pre-heating stage of publicity, Alibaba Pictures, one of the producers of "The Richest Man in Xihong City", built a ticketing platform fan community, "Xihong City Community".

Users can join the Xihong community and become Xihong citizens by clicking "Want to See". In the community, through game interaction, film association and ticket purchase guidance are carried out.

Relevant people told Xiao Dianjun,At present, the number of "citizens" in this community has reached 1.91 million: "At different stages, it has brought many benefits to let users interact and spread."

　

Compared with "Xihong City", the marketing efforts of "Di Renjie" are slightly lacking. At the beginning of Huayi’s "Former 3" tasted the sweetness through the marketing of short video platforms such as Tik Tok, as its film, "Four Kings" inevitably used these platforms to gather young people.

Comparison of official account data of two films in Tik Tok

"As a channel platform, Tik Tok is actually similar to Weibo and WeChat a few years ago. As a social platform, it can directly deliver some marketing actions to customers, and it is an unavoidable channel platform in this year’s project implementation." A propaganda of "Four Kings" tells us that he also mentioned that the advantage of such a platform is that there is no middleman to earn the difference.

　

Because it has been five years since the last Di Renjie was released, the promotion of Four Kings pays special attention to the marketing of young people.

In addition to the behind-the-scenes tidbits, the short videos of Four Kings on Tik Tok include "CP" of Mark Chao and Kenny Lin, "Shui Yue Makeup" created by many masters and Carina Lau’s "This is Jison" and other funny clips.

Various short videos of "Four Kings" launched on Tik Tok.

Tsui Hark even accepted an interview with the barrage website. At present, the video has been played 261,000 times and there are 3,000 barrage.

The propagandist said that it is necessary for the film’s marketing to sink: "Because of the theme,’ sinking’ lacks natural advantages. However, there are also some relaxed elements in Di Renjie, including some behind-the-scenes content, which can actually be handed over to users through short-sightedness and stimulate the desire to watch movies. "

Although it uses the same marketing platform as Previous 3, it is obvious that the influence of Four Kings on these short video platforms is not as strong as that of Previous 3.

During the film "Ex-3" was released, its three theme songs kept a very high volume in Tik Tok, and many people even used these three pieces of music as their short video background sounds to shoot their crying scenes after coming out of the cinema.

　

The related vibrato videos of "Previous 3" often get millions of praises.

This emotional attachment to the past is very easy to infect more people who watch short videos, which indirectly leads to more people entering the cinema.

　

In 1960s, david ogilvy, an American advertising master, put forward the advertising 3B principle — — Beauty (beauty), Baby (baby) and animal (Beast), that is, advertising can attract consumers’ attention if it meets one of the 3B principles, thus stimulating purchases.

　

Now, half a century later, the current audience’s preference for video content has not got rid of this principle. According to the propagandists of "Four Kings", in film marketing, Tik Tok users prefer to create videos specially made for Tik Tok, rather than Tik Tok packaging of materials.

On the other hand, "The Richest Man in Xihong City" carried out a series of related publicity with the football elements in the film as the selling point, and what helped Mahua FunAge was that after the film just caught up with the Russian World Cup, the topic of football remained unresolved.

Shen Teng, the founder, not only explained the World Cup, but also appeared in fashion magazines as a football player.

　

However, the release of an "AV Milan" material attracted many fans’ antipathy to the film and made the film almost hot.

Later, the concepts promoted by The Richest Man in Xihong City became "funny" and "how to spend 1 billion RMB".

　

A person familiar with the matter told Xiao Dianjun that Calories, which was sung by Rocket Girl, was the cooperation of Shen Teng in the early stage of Creation 101. In the eyes of the marketing staff interviewed, this cooperation is indeed one of the biggest marketing of the film.

However, this staff member told us that the promotion song "Under the Rainbow" sung by Zhao Lei has a better effect and has attracted more attention in various communities.

　

On the attention of WeChat, "Xihong City" is indeed ahead of "Di Renjie".

According to the data of the ticketing platform, after 6 days of release, the WeChat index of "The Richest Man in Xihong City" rose instead of falling, reaching 30.7%; The "Four Kings" has now dropped to 4.9%.

In WeChat official account, there are 13,000 articles about "The Richest Man in Xihong City", with a total reading of more than 8 million; There are 11,000 "Four Heavenly Kings", and the total reading is half of the former.

　

Looking through these articles by WeChat official account, we find that the key words of The Richest Man in Xihong City include "Spend money hard", "Don’t be profound" and "Poverty limits imagination", and the main theme is the simplest and rudest "Rich", which is funny.

From pre-sale to marketing, Di Renjie has not fallen behind, but the angle and means of exerting its strength remain to be discussed. In contrast, on the other hand, "The Richest Man in Xihong City" seems to be "no move to win."

The critics and the general audience have been arguing about which is the higher quality of the two films. Judging from the box office figures and ratings of various platforms, Di Renjie is an unavoidable "complete failure" for Xihong City.

I have to say that the victory of "The Richest Man in Xihong City" lies in fully catering to the expectations and preferences of the current audience.

In this regard, we don’t know whether it is "happiness" or "worry".

Huasheng Online March 15 (Reporter Yu Qian) What should I do if there is something wrong with my home appliances? Searching online for brand customer service telephone repair has become the first choice of many consumers. However, seemingly regular 400 telephones are not necessarily official after-sales hotlines, and there are many hidden dangers in on-site maintenance. Recently, a survey conducted by reporters in the columns of "Xiangwen Complaints Through Train" and "Consumer Complaints" found that the threshold for handling "400" calls was low, and the online search shanzhai hotline was given priority recommendation by search engines.

Search the brand "400" phone online.Encounter a "cottage"repair

At the beginning of March, Ms. Liao, a citizen of Changsha, found that the boiling water temperature of Baxi brand wall-hung boiler, which had been used at home for more than ten years, couldn’t get up, so she asked her husband to search the after-sales maintenance hotline of Baxi wall-hung boiler through the Internet and got a number of 4009918883. After dialing, the other party claimed to be the customer service of the manufacturer, so she could leave her address and arrange a maintenance master to come to the door.

A maintenance master who claimed to be sent by the manufacturer came to the door as scheduled. After a simple inspection, the maintenance master said that the controller was broken and needed to be replaced. The motherboard had some problems and needed to be repaired, which cost a total of 1,600 yuan. After some bargaining, the master finally agreed to charge 1000 yuan.

"The master fixed it quickly. After collecting money and adding WeChat, he left without leaving any documents, which was very casual." Ms. Liao recalled that the more she thought about it, the more wrong she was, and she found the official after-sales hotline 4006688700 from the official website of Baxi brand again. When she asked, she learned that she had encountered cottage maintenance, and the official maintenance quotation was actually half cheaper.

Ms. Liao spits out, "We just believe in online search too much. By default, as long as the phone starts with 400, it is formal."

Inconsistent official identification before and after customer service is false after-sales

On March 14th, according to the telephone provided by Ms. Liao, the reporter contacted the maintenance master and asked if it was "after-sales service of Baxi manufacturer". The master said that he was "from Baxi maintenance center".

As a consumer, the reporter dialed the telephone number 4009918883 that Ms. Liao’s husband called for repair at that time. Without telling the brand of home appliances, the wiring customer service claimed to be "a paid maintenance line, and any brand can be repaired, and orders can be received nationwide". After simply asking about the brand of home appliances, the fault situation and the location, the customer service also called itself the "eight-up special hotline" and told the reporter that there would be a master contact later, and the door-to-door fee would be 40 yuan, and the maintenance and replacement of accessories would be counted separately.

Subsequently, the reporter contacted Manager Pang, the after-sales person in charge in Hunan Province, through the after-sales service hotline 4006688700 displayed on Baxi official website. After listening to the reporter’s description, Manager Pang said that the reporter should have encountered a fake after-sales service of Baxi. "The official after-sales hotline is only 4006688700. After the customer reports for repair, he will receive a feedback message, and then the master with authorized service qualification will come to the door. The specific maintenance fee is charged according to the after-sales manual provided by the manufacturer, and formal documents will be issued after the repair."

"I have received many customers’ reports that the level of after-sales personnel in the cottage is uneven, and sometimes it is still minor and overhauled, but we can’t stop it." Manager Pang said helplessly.

The cottage is recommended first after sale.400 telephoneLow threshold for handling

When the reporter searched for the keyword "brand+after-sales" through the mobile phone, he found that many cottage maintenance information ranked in front of the official after-sales information, and was also marked with "national unified customer service hotline" and "headquarters maintenance". Many consumers said that it was difficult to identify if they did not browse carefully.

Why is the false after-sales hotline recommended first? An advertising agent of a search engine told reporters that the display order may be related to advertising bidding ranking and keyword matching, and the information with high price and high fit will be given priority.

Handling the "400" hotline is also very simple. The reporter’s investigation found that on a shopping platform, as long as you provide the business license, legal person ID card and official seal, you can do it with money. The minimum package is one year in 260 yuan, and the annual fee can be fully deducted. 114 can’t find the real information of the company.

Hunan Consumer Protection Committee reminds: Don’t trust the so-called "official maintenance" of online search.

Some insiders said that in recent years, some home appliance enterprises have paid more attention to marketing than after-sales. With the increase of operating costs, the number of regular home appliance repair stores has been decreasing, which has made some cottage repairs have living space, taking advantage of the characteristics of large market demand, low operating threshold, asymmetric information and high difficulty in illegal accountability, and fooling consumers into paying the bill.

In order to prevent consumers from encountering the trap of "cottage" home appliance maintenance, Hunan Consumer Protection Committee reminds consumers that when choosing maintenance services, whether within the warranty period or not, they should first choose the official after-sales service outlets of the purchased brands, and don’t trust the so-called "official maintenance" searched by the Internet; When applying for repair, we should try our best to explain the fault situation so that the door-to-door personnel can take the spare parts and dispose of them in time; After confirming the identity of maintenance personnel, it is necessary to know in detail the charging standards of maintenance projects and whether formal invoices can be issued. If necessary, you can seek technical support from official customer service and understand the official price charging standards; Consumers should collect relevant evidence for the behavior of raising the price or adding maintenance items in the middle of maintenance service, which can be reflected to the official website of the brand, or through relevant government departments and consumer associations to defend their rights.

Li Qinfeng, Director of Domain Name Business Department of Domain Name Registration Management Center of Government Affairs and Public Welfare Organizations

With the extensive and in-depth application of information technology, especially the continuous development of e-government, the website of party and government organs has become increasingly prominent. It has become an important window to publicize the party’s line, principles and policies and open government information, and an important platform for party and government organs at all levels to perform social management and public service functions, do things for the people, understand social conditions and public opinion, and accept supervision by the masses. The Fourth Plenary Session of the 18th CPC Central Committee put forward that "network behavior should be regulated according to law", which requires us to institutionalize and standardize the management of online names of party and government organs according to law, so as to ensure that the websites of party and government organs are "be worthy of the name, standardized names, safe operation and healthy development", thus ensuring the safety of websites of party and government organs and institutions.

First, the connotation of website security of party and government organs and institutions

General Secretary of the Supreme Leader pointed out that there is no national security without network security, and it is necessary to strengthen the management of new technologies and applications in the network to ensure that the Internet can be managed and controlled. Internet is a double-edged sword, well used, it is the treasure house of Alibaba; It doesn’t work well. It’s Pandora’s box. The website security of party and government organs and institutions includes three aspects: identity security, integrity security and information security.

One is identity security. In the real world, party and government organs and institutions have their own office space, which can only be listed, publicized and provided with services for the public after being examined and approved by the establishment departments at all levels in China, so its identity is well known to the public and is safe and reliable. However, in the virtual space of the Internet, in recent years, criminals posing as party and government organs and institutions have frequently set up fake websites, which has had a bad influence on the authoritative image of party and government organs and institutions and also caused losses to the public. Therefore, the identity security of party and government organs and institutions on the Internet needs to be guaranteed, so that the public can clearly identify them and will not be deceived by fake websites.

The second is integrity and safety. With the development of the Internet, the public can obtain government information and communicate with the government online in real time. The government can also contact the public synchronously, instantly, trans-regionally and trans-temporally through the Internet, and feedback the public’s demands for the government at the first time, thus effectively conserving, maintaining and cultivating the people’s trust in the government. However, due to various reasons, a large number of news in the name of the government have been published and reprinted on the Internet, and the public can’t tell whether these news are true or false. Some rumors confuse the public and even cause group incidents, which is not only detrimental to the long-term stability of society, but also directly damages the integrity and authority of the government.

The third is information security. At present, the websites of party and government organs and institutions have become an important platform for policy release and interaction between the government and the people, and at the same time, they have also become the carrier of public personal information because of the public’s online business. The Internet is logically divided into three layers. The first layer is the basic layer, including bandwidth, IDC computer room and mobile interconnected base stations. The second layer is the basic resource layer, including domain name, IP and so on; The third layer is the application layer, including mail, website, application system and so on. Among them, the second layer represented by domain name is the key to information security risks. If the Internet is likened to a highway, the second floor is equivalent to signs and cameras on the highway. If the highway of China’s Internet is guided by English signs and monitored by foreign cameras, then security can certainly not be guaranteed. Therefore, if Chinese government websites use commercial domain names, each parsing data will be reflected in the root server of this domain name, which will be mastered by foreign countries. Once the website has security risks, the public’s personal information will not be guaranteed, which directly threatens China’s network information security.

In a word, it is very important for party and government organs and institutions to ensure the safety of their websites. This requires that the identity of the websites of party and government organs and institutions can be confirmed, the voice can be distinguished, and the information can be guaranteed.

Second, how to ensure the website security of party and government organs and institutions

Online name management refers to the four-in-one comprehensive management with the use of online names and online identity identification of party and government organs and institutions as the core and domain name registration, website audit, website labeling and annual report as the main contents. Through the monitoring, retrieval, identification and protection of the online identity of institutions, it is widely used in various platforms such as Weibo, WeChat and browser, and finally makes the online identity clearer, the network environment clearer and the online business more secure.

(1) Domain name registration

According to the Interim Measures for the Administration of Online Names of Party and Government Organs, Institutions and Social Organizations (hereinafter referred to as Document No.6) jointly issued by the Central Committee and the Ministry of Industry and Information Technology, party and government organs and institutions must register and use standardized Chinese domain names for ".government affairs" or ".public welfare". These two Chinese domain names are technically unique, highly recognizable in form and strictly managed by the organization’s establishment department, which makes them qualified as "online identity cards" for organizations, and also makes Chinese domain names the premise and core of online name management.

(2) Website audit and website labeling

In May 2014, the Central Network Information Office issued the Notice on Strengthening the Website Safety Management of Party and Government Organs (hereinafter referred to as Circular No.1), which clearly required the organization department to be responsible for the website start-up audit and qualification review of party and government organs, and to design and formulate the usage norms of website logos of party and government organs.

Website labeling refers to placing a unified website logo in a prominent position at the bottom of the website after the websites of party and government organs and institutions are approved by the organization department. Clicking this logo will display the basic information of the company and the online name, etc., so as to facilitate the public to distinguish the authenticity of the website.

(3) Annual report

According to Circular No.6 and the Notice on Doing a Good Job in Auditing, Qualification Review and Website Logo Management of Party and Government Organs’ Websites (hereinafter referred to as Circular No.69) jointly issued by the Central Editorial Office and the Central Network Information Office, online names and website logos are subject to a regular reporting system, and website owners should regularly report online changes in their qualifications, the use of online names and website logos to the organization establishment department.

Third, the significance and necessity of online name management.

(1) Why is the organization department responsible for the management of online names?

The organization establishment department holds the most accurate information of organization identity and name, and is managed by the organization establishment department, which can effectively ensure the "be worthy of the name and standardized name" of party and government organs and institutions on the Internet. Therefore, as early as 2008, the Ministry of Industry and Information Technology clearly stipulated that Chinese domain names for government affairs and public welfare should be managed by the organization department. In 2014, in the No.1 document issued by the Central Network Information Office, it was further stipulated that the organization preparation department was responsible for the audit and qualification review of the website of the party and government organs, and designed and formulated the usage norms of the website logo of the party and government organs.

(2) Why should we register and use standardized Chinese domain names?

Chinese domain names for government affairs and public welfare conform to the language and cultural habits of Chinese people, and can clearly reflect the name and functions of institutions, similar to the "online ID card" of institutions. For example, the Chinese domain name compiled by the central government is "Central Compilation. Government Affairs". Compared with its English domain name "scopsr.gov.cn", the Chinese domain name is clear at a glance, which not only embodies the authoritative identity of the organization, but also facilitates public recognition and memory, and is the basic guarantee for netizens to surf the Internet safely and do things with confidence.

Fourth, the significance of establishing an online ID card authentication and protection application system with Chinese domain names as the core.

The first is to maintain authority. It is an important means to maintain their authoritative status in cyberspace to put on "anti-counterfeiting clothes" for institutions by standardizing online names and hanging website logos. The second is to make it safer to do things online. Marking the identity information of the organization on the Internet makes it easy for netizens to distinguish the true and false websites of the organization, which can improve the efficiency and facilitate the work on the Internet. The third is to ensure national information security. Party and government organs and institutions are the core political resources in China, and their information security on the Internet is particularly important. Strengthening the authentication and protection of its online identity can effectively guarantee the security of the country’s core information. The fourth is to make the organization management more scientific. Through website logo management, we can fully understand the online performance of institutions and provide scientific reference for the performance evaluation and management of institutions.

We maintain the seriousness and authority of the websites of party and government organs and institutions, protect the safety of the websites of party and government organs and institutions, and establish a green channel for the public to visit the websites of government departments and public welfare institutions quickly and accurately, so as to promote the popularization of Internet application and the development of government affairs openness and e-government in China. (Author: Li Qinfeng, director of domain name business department of domain name registration management center of government and public welfare organizations)

State Taxation Administration of The People’s Republic of China press conference site (photo by Su Yu)

The value-added tax invoice data with a wide penetration is a window to observe the production and operation of market players. According to the data released by State Taxation Administration of The People’s Republic of China on May 28th, in April this year, the sales revenue of national enterprises increased by 12.9% on average for two years, which continued a steady and positive trend.

On the whole, in April this year, the sales revenue of Chinese enterprises continued to grow steadily, the industrial economy continued to recover, consumption and investment steadily improved, and the recovery growth trend of the national economy continued to strengthen.

Zhao Lianwei, deputy director of the Revenue Planning and Accounting Department of State Taxation Administration of The People’s Republic of China, said: "The VAT invoice data shows that in April, the sales revenue of national enterprises increased by 24.6% year-on-year, 27.5% over the same period of 2019, and the average growth rate in two years was 12.9%, continuing the steady and good trend since the second half of last year."

In terms of industrial enterprises, the sales revenue of industrial enterprises increased by an average of 10.1% in two years, reflecting the steady recovery of the industrial economy. Zhao Lianwei said: "Among the 41 major industries, 38 industries have achieved positive growth on average in two years, and 16 industries have achieved an average growth rate of more than 10% in two years."

In the wholesale and retail industry, the sales revenue of the wholesale and retail industry increased by 12.3% on average in two years, one of which is the rapid growth of upgrading consumption. "VAT invoice data shows that in April, the national wholesale and retail sales revenue increased by 26.2% year-on-year, an increase of 26.1% over the same period in 2019, and an average increase of 12.3% in two years. Among them, the consumption of upgrades has grown rapidly, and the retail sales of watches, health care equipment, photographic equipment and nutrition and health products have increased by 21.6%, 46.7%, 9.4% and 25% respectively in two years. " Zhao Lianwei said.

In the construction industry, the sales revenue of the construction industry increased by an average of 14.5% in two years, and the construction of new infrastructure was accelerated. According to the data of VAT invoices, from January to April this year, the sales revenue of the national construction industry increased by 39.6% year-on-year, by 31.1% compared with the same period in 2019, with an average increase of 14.5% in two years, reflecting the continued recovery of investment. The investment structure was gradually optimized, and investment in new infrastructure increased.

In addition, State Taxation Administration of The People’s Republic of China also released the relevant data of newly established tax-related market entities. "Newly established" means that they have gone through the relevant procedures for the registration of market entities, and "tax-related" means that certain production and business activities have taken place. The data shows that thanks to the continuous release of a series of policy dividends, such as tax reduction and fee reduction, "streamline administration, delegate power, strengthen regulation and improve services" reform, and optimization of business environment, in April, there were 1.336 million new tax-related market entities, an increase of 5.1% compared with March, an increase of 21% and 20.3% respectively compared with the same period in 2020 and 2019, with an average increase of 9.7% in two years.

In terms of types, the number of newly-established individual industrial and commercial households reached 621,000, which is about half of the total number of newly-established businesses. The executive meeting of the State Council made it clear that we should continue to provide targeted support to small and micro enterprises and individual industrial and commercial households, including implementing tax reduction and fee reduction measures and helping them cope with the impact of rising prices of raw materials.

　　The Conscription Office of the Ministry of National Defense recently issued the Notice on Preparing for Conscription in 2018, arranged for the preparation of conscription in the new year, and made it clear that the National Conscription Network (website http://www.gfbzb.gov.cn) was officially opened today, and all kinds of work such as online military service registration, recruitment registration and policy consultation were carried out in an all-round way.

　　通知强调，各地要及早部署展开大学生预征工作，确保在大学生离校前完成体格检查、政治考核和预定兵工作。下一步，各级兵役机关会同军队和地方宣传部门将深入开展征兵宣传，深入开展“征兵宣传教育进高校”活动，组织“省市领导话征兵”活动。

　　我国《兵役法》规定，每年12月31日以前年满18周岁的男性公民,都应当在当年6月30日以前,按照县、自治县、市、市辖区的兵役机关的安排,进行兵役登记。2018年兵役登记已经开始，你准备好了吗？

　　重点一：习主席去年曾给南开大学8名入伍大学生回过信

　　2017年的最后一天，国家主席最高领袖发表2018年新年贺词。贺词中提到，2017年，他又收到很多群众来信，其中就有南开大学新入伍的大学生，大学生们的故事让他深受感动，同时让他感到幸福都是奋斗出来的。最高领袖主席去年9月23日在给南开大学8名入伍大学生回信中，勉励他们把热血挥洒在实现强军梦的伟大实践中，书写绚烂、无悔的青春篇章。

　　Eight Nankai students are ordinary members of Qian Qian’s 10 million new college students in 2017. Among the eight people, some are the children of Xinjiang’s anti-terrorism martyrs, some are descendants of veterans who fought against US aggression and aided Korea, both urban youth and peasant children. Today, they have all grown up obviously: Kazakh boy Ashar, "challenged" to be the platoon leader of special warfare players for six years and completed the 3000-meter run in 11 minutes and 30 seconds; Dai Rui, a female soldier, changed from a "cute girl" on campus to a "female man" in a military camp. In order to cultivate a tall and straight military posture, she put paper on her knees and bricks on her head; Dong Xudong, the champion of the local college entrance examination, went from "Xueba" in the university to "Young Eagle" in the new training. After putting on his uniform, he read "The Educated Youth of the Supreme Leader" for the first time. Hu Yifan, a descendant of the Volunteers, not only learned, taught and applied theory in the military camp, but also hit the 48th ring &hellip with five shots at a distance of 100 meters. …

　　Key point two: the continuous development of national defense mobilization level will improve the ability of science and technology to participate in the war and support the front.

　　National defense mobilization is a bridge to transform national defense potential into national defense strength and an important content of national defense construction. The effectiveness of national defense mobilization construction is related to national security and development, and to the victory or defeat of future wars.

　　In 2017, with the adjustment of the whole army to form 84 military units, including services and arms units and provincial military region systems, various reform measures of the national defense mobilization system gradually landed and achieved new breakthroughs.

　　Planning and design are clearer. Combined with the formulation of the "Thirteenth Five-Year Plan" for national defense mobilization construction, the long-term tasks of national defense mobilization in 2025 and the indicators of core mobilization ability are demonstrated and put forward. Various strategic directions, mobilization fields and provinces (autonomous regions and municipalities) have also formulated various planning plans at different levels.

　　Accelerate the transformation of the construction model. Vigorously promote the transformation of national defense mobilization from quantitative scale to quality and efficiency, from ensuring army operations to ensuring joint operations of services and arms, from corresponding construction to complementary construction, and from extensive mobilization to precise mobilization.

　　The field of mobilization continues to expand. Adhere to information-oriented, increase preparations for supporting and ensuring the mobilization of services and arms, strengthen the construction of new mobilization forces such as information support, electromagnetic spectrum, meteorology and hydrology, mapping and navigation, medical rescue, and maintenance of high-tech equipment, actively explore expansion in various fields, improve the ability of science and technology to participate in wars and support the front, and lead national defense mobilization to a higher level.

　　At the same time, in order to meet the requirements of the reform of the military leadership and command system, the National Defense Mobilization Department of the Military Commission has guided Jiangsu, Guangdong, Fujian, Hunan and other provinces and military regions to carry out relevant pilot work, and made useful explorations in building a wartime mobilization organization and command mechanism, a mobilization demand reporting and docking mechanism, and establishing and improving a mobilization preparation inspection and evaluation system.

　　Focus 3: There are many preferential policies for resettlement of retired soldiers and entrepreneurship and employment.

　　The State Council and the Central Military Commission promulgated the Regulations on Resettlement of Retired Soldiers in October 2011. The Regulations specify a series of preferential policies for resettlement and entrepreneurship of retired soldiers.

　　Eligible retired soldiers can be arranged by the government. Non-commissioned officers have served in active service for 12 years; During the period of active service, he usually won a prize above Class II or a prize above Class III in wartime; Disability due to war is rated as level 5 to level 8 disability; Children of martyrs will be arranged by the people’s government.

　　Retired soldiers who are self-employed enjoy a series of support policies. If conscripts and noncommissioned officers who have been in active service for less than 12 years retire from active service, the people’s government will support their own employment and get a one-time retirement pension for their own employment; Local governments at or above the county level should support retired soldiers to find jobs and start businesses, and give tax incentives in accordance with state regulations; Employers recruit retired soldiers and enjoy tax incentives according to law; The land contracted by self-employed retired soldiers through household contract before joining the army shall not be illegally recovered or forcibly transferred during the contract period.

　　College soldiers enjoy a series of preferential treatment after retirement. Ex-soldiers who have been admitted to ordinary colleges and universities before enlisting and retained their qualifications for admission or are studying in ordinary colleges and universities are allowed to enroll or resume their studies within two years after retiring from active service, and enjoy preferential treatment such as scholarships, grants and tuition reduction and exemption in accordance with relevant state regulations. Those who apply for graduate students can enjoy the "special postgraduate enrollment plan for retired college students and soldiers" of the Ministry of Education.

　　Eligible retired soldiers can retire or be supported by the state. The living, housing and medical care of retired non-commissioned officers shall be guaranteed in accordance with the relevant provisions of the state. Conscripts and junior noncommissioned officers who have been assessed as disabled at level 1 to level 4 are discharged from active service and are supported by the state for life.

　　【Extended reading】

　　Military service registration is a mandatory obligation.

　　In fact, many people don’t know what military service registration is, and think that I don’t have the will to be a soldier, so I don’t need to go to military service registration. However, this is not the case. Article 13 of China’s Military Service Law stipulates that the state practices the military service registration system. Every year before December 31st, male citizens who have reached the age of eighteen shall go to military service registration before June 30th of that year according to the arrangement of the military service organs of counties, autonomous counties, cities and municipal districts.

　　According to the relevant regulations, military service registration is the registration management for citizens who meet the military service age, and it is a compulsory obligation of the state. Male citizens of the appropriate age who do not intend to join the army for the time being must also undergo military service registration and verification. Military service registration, mainly to prepare for the annual conscription work. That is to say, it is not necessary to join the army after military service registration.

　　Avoiding registration is responsible for affecting credit reporting.

　　Evading or rejecting citizens of military service registration will not only affect their normal participation in the army, but will also be subject to administrative punishment. According to the provisions of the Military Service Law, if a citizen who applies for enlistment refuses, evades the solicitation and refuses to make corrections, he shall not be employed as a civil servant or a staff member managed according to the Civil Service Law, and shall not go abroad (territory) or pursue further studies within two years. If the refusal to perform relevant obligations in wartime constitutes a crime, criminal responsibility shall be investigated according to law. (Feng Renqing)

　　Sanyuanli vegetable market in Chaoyang District is neat and standardized, clean and hygienic, with complete products. Because it is close to the embassy district, it also attracts many foreigners to buy it. Reporter Deng Wei photo

　　Reporter Ma Jing

　　Just after 9: 00 a.m., Sanyuanli vegetable market became lively. Chefs from western restaurants came to buy lunch ingredients, young mothers picked imported fruits, and takeaway brothers walked quickly through busy delivery. Delicious vegetables, colorful fruits, seafood from all over the world, and strange spices … … Although this vegetable market with an area of only 1,560 square meters is small, it is full of all kinds of delicious food from all over the world.

　　In the vegetable market, a long and narrow passage runs through the north and south, with 140 merchants on both sides. In a booth of only a few square meters, merchants set up a ladder with a simple frame to place dishes, and the layered vegetables will be surrounded by vegetable sellers, who can only drill in and out from the corner of the ladder.

　　For 59-year-old Li Xueling, loading goods is a manual job, but she enjoys it. Before dawn, her whole family drove to major wholesale markets to select fresh "sharp goods". After being transported back to the vegetable market, they had to choose dirty leaves, wrap them in plastic wrap, and put them on the stalls after some initial processing. "The morning is the busiest and most chaotic time, but the market is neat as soon as it opens." Li Xueling said.

　　"Elder sister, give me a small box of sweet beans and a catty of tomatoes." Just opened, Ms. Sun, an old customer, appeared in front of the booth in Li Xueling as usual. The price of two vegetables of nearly 100 yuan did not surprise Ms. Sun. After skillfully scanning the code to pay, she picked up the bag and walked to the fruit stand.

　　What attracts Ms. Sun is that there are always unexpected gains here. A kilo of organic tomatoes in 20 yuan, Japanese pumpkins that are often sold out of stock, Brussels sprouts that look like mini cabbages, and delicious flowers with high value … … The small vegetable market is an eye-opener and makes people enjoy the beauty of food.

　　"Who would have thought 30 years ago that there are so many kinds of vegetables now?" Li Xueling remembered that she and her husband came to Beijing from their hometown in Baoding, and each of them joined the army of selling vegetables with a flatbed. At the beginning, all the stalls were the same road dishes, with only five or six varieties. At that time, she didn’t expect that such a "online celebrity" vegetable market could be built on the grassland that she passed every day when she went home.

　　In 1992, before and after the country completely abolished the policy of residents buying pork by ticket, vegetable greenhouses were built in Sanyuanli vegetable market, and roadside vendors pushed carts into the market to set up stalls. Since then, this old vegetable market has undergone many upgrades and hardware upgrades, and it has also evolved into an international vegetable market full of emotional appeal.

　　If the opening is the right time, internationalization is the right place. Because of its proximity to the embassy district, Sanyuanli vegetable market has attracted customers from all over the world, and various demands have also made merchants smell business opportunities. This vegetable market, which takes two or three minutes to walk quickly, has gradually become a "fresh United Nations".

　　Yesterday evening, Liu Rong, a white-collar worker who just finished working overtime, walked into Sanyuanli vegetable market and went straight to a cheese shop, with black lemon cheese and colorful red sauce cheese … … Liu Rong, who just learned to cook western food, was dazzled.

　　"I have no cheese you can’t find." Shop owner Wen Guochen is full of confidence. Twenty-two years ago, he was a vegetable merchant in the market. Because many foreigners who came to buy food could not find their own cheese, Wen Guochen decided to change careers. He asked the import agent to collect all kinds of cheese and spices to satisfy the stomachs of foreign customers. In recent years, more and more Chinese began to patronize his small shop, and the business was getting better and better.

　　Just after seeing off the customers, a fashionable food anchor walked into the store, aimed the camera at the cheese in the freezer, and the screen of the mobile phone flashed with questions from fans. For such a scene, Wen Guochen has long been accustomed to it. In recent years, artists have come to hold exhibitions, writers have come to hold new book conferences, and economists have come to hold small classes in economics. The unique "online celebrity" temperament makes this vegetable market bring people endless imagination.

　　Li Xueling felt that in the past two years, the number of passengers in the vegetable market has decreased, but the micro-shops in mobile phones have become busier. "When someone visited once, they added WeChat. When it is inconvenient to come, they will place an order online." Like Li Xueling, merchants have been operating mobile phone markets. The take-away and flash delivery staff who shuttle through the market have also become a unique landscape.

Text | market value observation Xiao Li flying knife

Editor | Xiao Shimei

Recently, the international gold price is witnessing history every day, and the current price once exceeded $2,380 per ounce.

Under the skyrocketing price of gold, ETFs tracking the spot price of gold also ushered in brilliant performance. Among them, the gold ETF Huaxia (518850) rose nearly 16% in more than one month, which was more than 50% higher than the low point in March 2021, which caused great concern in the market. In the eyes of many professional organizations, this round of gold bull market is far from over.

【 cycle cycle 】

Historically, the price of gold has experienced many rounds of bull-bear cycles.

After the Great Depression in 1929-1933, most developed economies abandoned the gold standard and implemented the paper money system. As a functions of money, gold has been greatly weakened, and the price of gold is facing revaluation, which has soared by more than 70% in just a few years. This is the first time that people have witnessed the power of gold.

Since then, the international gold price was tepid, and it was not until 1970-1980 that the second super bull market was ushered in, with a cumulative increase of 430%.

In 1971, Nixon brazenly announced the suspension of the exchange of dollars into gold, the Bretton Woods system collapsed and the value of gold was revalued again. In addition, after the decoupling of the US dollar from gold, the US fiscal and monetary policies were like wild horses, which eventually led to a round of hyperinflation, which also drove the current round of gold prices to rise sharply to some extent.

Subsequently, gold ushered in a 20-year super bear market. During this period, gold continued to depreciate, in sharp contrast to the rising prices of major economies around the world. Among them, American prices soared by 500%.

In 2000, before the bursting of the Internet bubble in the United States, the global stock market was extremely enthusiastic, and gold was at the end of the bear market cycle, gradually bottoming out and opening the road to rebound.

From 2006 to 2008, there was a super bubble in the American real estate market, and the price of gold continued to rise to a high of $1,000. Since then, with the collapse of Lehman Brothers, the subprime mortgage crisis has swept the world. As a major asset, gold has also fallen more than 20% following the stock market and bond market in just a few months.

In November 2008, the United States officially launched the QE policy, and large-scale over-issuance of money saved finance and economy from fire and water. The European Central Bank also implemented quantitative easing policy and expanded its balance sheet rapidly. The huge amount of liquidity continuously depressed the market interest rate and entered the zero interest rate range in December 2011. In the same period, the Bank of Japan’s QE and QQE policies came out.

The global mainstream currencies flooded, the real interest rate of the US dollar fell, and gold rose all the way to 2011, with the highest exceeding $1,900 per ounce.

▲COMEX gold main futures price chart, source: Chocie

After this bull market, gold ushered in a bear market for nearly seven years. The price of gold once dropped from a high level to $1,045 per ounce in 2015, with a cumulative decline of 46%. After that, it oscillated at the bottom for several years and started a new bull market cycle in October 2018.

From the perspective of historical deduction, once the gold price enters the bull market or bear market cycle, the trend will not end soon, and the duration can often last for more than 10 years. If this gold bull market follows the historical laws, it is a good choice to invest in gold-themed index funds such as gold ETF Huaxia (518850).

"Different bull market"

As we all know, gold has three attributes, including finance, hedging and commodities.

Financial attributes are mainly priced by two major indicators, one is inflation expectation and the other is nominal interest rate. To put it simply, gold has been used as a "hard currency" against inflation over the years-inflation has gone up, and gold tends to rise; Deflation, gold tends to fall. Nominal interest rate generally regards the yield of 10-year US bonds as opportunity cost. When the nominal interest rate goes down, gold tends to go up, and vice versa.

The combination of two factors, that is, the real interest rate (nominal interest rate-inflation expectation), is one of the important logics that determine the long-term trend of gold prices.

Hedging is the most important attribute of short-term fluctuation of gold, but it can’t support the performance of gold price in the medium and long term. Commodity attributes are weaker than the first two, because the demand for gold consumption (such as gold ornaments) is relatively stable and the supply is relatively stable, which often has little impact on the price of gold.

Then, since October 2018, why has a sharp bull market broken out in gold? How is this different from previous cycles?

From October 2018 to the end of 2022, there was a relatively obvious negative correlation between gold and the real interest rate as a whole, which was not very different from the past big cycle.

▲ US real interest rate VS gold futures price trend, source: m square

At the end of 2018, the Federal Reserve entered the end of the interest rate hike cycle since 2015, and then cut interest rates three times in 2019. In 2020, when the COVID-19 epidemic crisis hit, the Federal Reserve quickly lowered the federal benchmark interest rate to zero, and its balance sheet expanded by $5 trillion. Massive currency liquidity flooded into the market, the real interest rate fell sharply, and gold as a whole showed a continuous upward trend.

Since the end of 2022, the real interest rate in the United States has fluctuated and risen, but gold has continued to strengthen. Recently, the macro data of non-agricultural employment and inflation in the United States have performed strongly, indicating that the economic fundamentals are strong, and the yield of 10-year US bonds has also rebounded to above 4.4%, driving the real interest rate to rise, but gold is still unmoved and crazy.

From the real interest rate in the past big cycle, the main pricing factors can no longer effectively explain the surge in the second stage of this gold bull market. The main reason is that the crazy purchase of gold by global central banks has become another important factor leading the trend of gold prices.

In 2022, global central banks bought 1,082 tons of gold, a significant increase compared with the previous 450 tons, setting a record high. In 2023, the net purchase again was 1,037.4 tons, which continued to maintain a high level, close to 20% of the annual gold supply. Among them, the biggest buyer originated from the Bank of China.

▲ The central bank’s demand for gold purchases has increased rapidly. Source: Zeping Macro

As of March, 2024, the gold reserve of the Bank of China was 72.74 million ounces, up 160,000 ounces from the previous month. It is worth noting that this is the 17th consecutive month that the Bank of China has increased its holdings by 10.1 million ounces, or about 286 tons. According to the current gold price, the increase in holdings exceeds 170 billion yuan.

Since March, gold has continued to skyrocket, which has stimulated the rapid increase of global non-commercial long positions in gold for speculative profits and the relative decline of short positions. This undoubtedly exacerbated the soaring price of gold with a very steep slope.

From the short-term and medium-term perspective, the Fed will enter the interest rate reduction cycle for several years in the future, and the high interest rate of US bonds will have a large downside in the future. From a long-term perspective, due to distrust of the sovereign currency of the US dollar, central banks around the world systematically increase their holdings of gold, which will drive the upward trend of gold prices.

Long and short period resonance, the future gold market is still expected.

[investment at the right time]

Since the gold price in the afternoon is expected, it will be a good choice to vote for gold. You know, gold is the only legal and compliant global allocation asset that most people in China have access to.

In addition to buying physical gold, a more convenient way to invest in gold is to use ETF for layout. For example, the latest scale of gold ETF Huaxia (518850) is over 400 million yuan, with good liquidity, and it has recorded nearly 50% return performance in the past three years, which deserves special attention.

Of course, participating in the gold market can also focus on outstanding A-share gold listed companies.

Specifically, the middle and upper reaches of the gold industry chain are mainly engaged in gold mining and smelting, with Zijin Mining and Shandong Gold as the leading companies, while the downstream is mainly engaged in the production and sales of gold jewelry, with Lao Fengxiang and Zhou Dasheng as the leading companies.

The leading enterprises in the upstream resources are relatively more profitable, especially Zijin Mining, which has a market value of over 440 billion. Its gross profit margin increased from 8.5% in 2015 to 15.8% in 2023, and its net interest rate increased from 1.8% in the same period to 9%.

Zijin Mining’s gold business scale is undoubtedly the largest in China. In terms of reserves, it will reach 1,191 tons in 2022 (gold resources will reach 3,117 tons), far exceeding the 507 tons and 417 tons of Zhongjin Gold and Shandong Gold. In addition to the gold business, Zijin Mining also mines non-ferrous metals such as copper and zinc, and its output ranks among the top in the world.

These businesses have experienced explosive growth in the past few years. From 2005 to 2023, the revenue expanded from 3.07 billion yuan to 293.4 billion yuan, with a compound annual growth rate of 29%. The net profit of returning to the mother increased from 700 million yuan to 21.1 billion yuan, with a compound annual growth rate of 21%.

One of the core competitiveness driving the continuous growth of performance stems from low cost. On the one hand, Zijin Mining has mining technology that its peers don’t have, or can’t reach, to realize the benefit of mining low-grade mines. On the other hand, Zijin Mining is good at using the cycle and purchasing mineral resources at low prices against the trend.

In addition, Zhongjin Gold and Shandong Gold are not bad in operation, but their cyclical properties are stronger than Zijin Mining, and their share prices generally fluctuate with the gold price.

Lao Fengxiang, the core leader in the downstream of the gold industry chain, is also a super bull stock. Although the level of gross profit and net profit is very low, which is not much different from that of most manufacturing companies, fortunately, the business scale continues to expand, which also drives its profits to continue to grow.

Lao Fengxiang’s good growth stems from the bonus of China’s gold jewelry industry. According to Euromonitor, the market size of the industry was 815.9 billion yuan at the end of 2022, and it will reach 942.9 billion yuan in 2025, with a compound annual growth rate of 7.8%. In addition, from the perspective of per capita jewelry consumption, China’s jewelry consumption is US$ 82, which is lower than US$ 693 in Hongkong, China, US$ 309 in Singapore and US$ 250, and there is still much room for growth in the future.

In China’s jewelry market, the consumption of gold products is significantly higher, accounting for 58.3% in 2021 and above 60% in many years. In the global market, the largest market segment is diamond jewelry, accounting for 47%, followed by gold, accounting for 42%. It can be seen that the leading enterprises specializing in gold jewelry in China will benefit more.

In short, from the historical dimension and driving logic, this round of gold bull market may be far from complete. In this uncertain era, the allocation of gold-related assets should be a relatively certain choice.

three three

Sichuan is spicy and addictive. Hot and sour powder, saliva chicken, spicy chicken pot, cold pot string … Red spicy oil, fragrant pepper, eat to the scalp sour, sweating, shaped like a taste purgatory trip, but the aftertaste is getting deeper and longer, and it will become addictive after a long time. However, the food in this place is so brilliant that 1,000 Chengdu people may have 1,000 small shops they like.

Sichuan is spicy, fragrant and hemp, and saliva is secreted at a glance. The graphs in this paper are all three graphs.

An hour in the morning is worth two in the evening

No matter how famous the hot pot in Shudu is, you can’t eat it early in the morning. Everyone in the land of abundance is very comfortable, sleeping until they wake up naturally, hungry for the first meal, where to go and what to eat? Go to a fat sausage shop with heavy taste, eat a bowl of bean soup rice with pure pie, and the old school will come to a bowl of red oil to copy their hands. After eating and drinking enough, they are full of vitality, so they can set off for the teahouse.

Pork intestines powder+pot helmet is my favorite breakfast. Pork intestines powder must be white and tender, and the powder is strong. The intestines should be washed clean without peculiar smell, simmered slowly with a little chewiness, red oil slipped and stained a little, and some soup should be hooked in the bend to make people enjoy themselves.

The powder should be high-quality sweet potato powder, and it is best to make it by hand, so that the taste is strong. The seasoning should be enough, and the sauce should not be vague. It must be aged Pixian bean paste, and the fragrance is layered. It is absolutely comfortable to eat in such a bowl. Another crispy pot helmet, hand-made noodles, strong fragrance, fresher soaking, is simply authentic civilian food.

Pork rolls with pot helmet.

People who like the large intestine are regarded as treasures. No matter at noon for breakfast, when you enter the fat sausage shop, braised sausage head and mixed sausage head are not to be missed. The sausage head tastes the most refreshing, tender, thick and chewy. Authentic stores turn the whole piece over and wash it with alum. When it is finished, cut it into pieces to taste before serving, so that the delicious food is firmly sealed and blooms before serving. The intestines are fat and heavy, and it is even thicker when soaked in red oil peppers. With fresh and tender cress, the fresh and spicy fragrance makes the tongue unable to find the north for a while.

Everyone who will order will have a sausage head.

In Chengdu breakfast, only miscellaneous sauce noodles can compete with pork intestines powder.

A bowl of miscellaneous sauce noodles with red oil begins a day full of vitality.

Miscellaneous sauce noodles are the most popular in small noodles in the morning. Knowledgeable families must cut alkaline noodles with fresh water, commonly known as cudgel noodles, which have a yellowish surface and taste strong. The miscellaneous sauce for mixing noodles is ironclad sesame sauce, Hanyuan pepper noodles, pork minced meat and Chili oil, plus some sugar, garlic paste, soy sauce and the like. When you smell it in the morning, you will be full of saliva, and the dishes are green vegetables in winter and cowpeas in summer.

When it is hot, cold noodles with shredded chicken is the savior of appetite. You don’t need to see the fire, the store can mix a bowl in 5 seconds. The white jade congealed face, glittering and translucent spicy oil, and shredded chicken without oil flowers are chilled and refreshed. Popular stores use chicken leg meat, and then use chicken soup with noodles. No matter how hot it is, diners will continue.

Cold noodles with shredded chicken is the savior of summer.

Baijia gaoji pork intestines rice rolls

Baijia Town, South Third Ring Road, Shuangliu County

Ganji rice rolls

No.26-32 Xiaojiahe Middle Street, Wuhou District, Jiangyou Pork Intestines, No.18 Ma ‘an North Road, jinniu district

Noodles

9-21 Ximianqiao Street, Wuhou District

Liuji Lupin Branch (Cold Noodles with Chicken)

No.192, Randeng Temple North Street, Wuhou District

King of Sichuan cuisine twice-cooked pork

Apart from hot pot, there are four most popular Sichuan dishes in the world, namely, Sichuan style pork, diced chicken with kung pao, shredded pork with fish sauce and Mapo tofu. These four sweet, sour, spicy and fragrant dishes are balanced and palatable, which makes Sichuan cuisine invincible. But the dish that can be regarded as the "king of Sichuan cuisine" is probably Sichuan style pork.

Authentic Sichuan-style stew pork must use "two knives".

Sichuan people have always loved Sichuan pork. However, I’m afraid many Sichuanese didn’t expect that the Sichuan-style pork they ate was not authentic. From the selection of materials, ingredients to the final side dishes, it is actually very particular to fry a plate of authentic Sichuan style pork.

The most authentic Sichuan-style pork comes with skin and hind legs, which is called "Erdao" locally. The second knife meat has regular shape, reasonable fat and thin collocation, and heavy meat flavor. Add aniseed, pepper and cooking wine and boil it until it is raw. Add oil to the wok and burn the meat. The cooked meat looks like a lamp nest, then add wine and salt. After a little cooking, add bean paste and then sweet noodle sauce. Yes, you certainly didn’t expect that authentic Sichuan style pork and sweet noodle sauce are also essential, and the rich sauce flavor comes from this.

The side dishes of Sichuan style pork are also exquisite, and they must be garlic seedlings. Garlic seedlings are particularly important for Sichuan style pork, which not only smells fragrant, but also leaves of garlic seedlings can fully absorb the fat of meat, and it is also a rare delicacy. Stir-fried pork with garlic sprouts and special soy sauce until it is cut off. Only after turning off the fire can vegetables have a unique fresh feeling, and sometimes they are more popular than the meat on the plate.

Many fly restaurants in Chengdu cook Sichuan style pork, but when it comes to exquisite and clean materials, it will be the most popular one to turn around. As one of the longest restaurants in Chengdu at present, what it advocates here is the comfortable life in old Sichuan. In the old house with cornices and arches at the entrance of Lotus Lane, there are several thick wooden tables and bamboo chairs in the small courtyard of blue brick, which are the seats that guests scramble to reserve every day.

Zhuanzhuanhui (Liangui Branch)

No.25 Lianhua South Road (near Longzhou Road Police Station); 028-84511000

Chengdu Midnight Food Store

No matter how late the night is in Chengdu, there is also a snack bar with a light on and a steaming pot boiling, which attracts hungry passers-by with delicious meat. On a cold winter night, there is nothing warmer than a bowl of soup.

The hoof flower soup has warmed many wet winters in Chengdu.

Age loves hoof flower soup. A bowl of snow-white, rich snow bean and hoof flower soup. The white soup has a thick bean flavor, and there is no oil slick. When swallowed, it seems that there is a thin layer of gum condensed in the mouth, which is warm and smooth. The store keeps the skin of pig’s trotters white and shiny, so delicate that you can’t see the pores. When chopsticks touch them, they will be soft and detached from the bones. They will be dipped in soy sauce, vinegar, sesame oil, pepper powder, chopped pepper and chopped green onion, which will drive away the cold in one bite and cheer up in two. If you are tired of eating the taste of snow beans, kelp and lotus root will have another flavor.

Another late-night snack that is quite chivalrous is black chicken feet.

The huge black chicken feet, which are longer than the palm of a man’s hand, have traveled all over the restaurants in Chengdu, large and small. Without it, they can’t keep up with the trend and play Freestyle. Black chicken feet and ordinary chicken feet are not the same concept at all. The big black chicken from Zigong has an upgraded flavor, and the skin on its legs is smooth and tender. The chicken feet are crisp and chewy, and the soup is rich and the gum is rich. 10 yuan is one. After eating it, I looked up and saw that everyone in the room was eating it.

Liaolaoma pettitoes (Dongchenggen branch)

No.7-11, Dongcheng Gennan Street, Qingyang District; 028-86152948

Wanlai

No.18, Zhaixiangzi, Qingyang District; 15928117959

Black chicken feet longer than human palms.

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　　[PConline sea election shopping guide]Since the beginning of this year, major manufacturers have launched new speaker products with Bluetooth function. Perhaps due to the hot sales of smart phones, the Bluetooth audio market is also unprecedentedly hot, and some insiders even think that this year is the first year of Bluetooth audio. In this issue of China Good Speaker, I recommend several portable Bluetooth stereos for you. I hope you like them.

Recommended products: DOSS New achimo
Reference quotation: 399 yuan

DOSS New achimo　　picture　　evaluating　　forum　　quote　　Net purchase price

　　DOSS New achimo Bluetooth has won the recognition of users for its compact and beautiful appearance, humanized design and excellent sound quality since its release.

DOSS New achimo

　　DS-1168 box is cylindrical in design, which not only meets the needs of audio performance, but also gives people a better impression and attracts more people’s attention. In addition to the speaker body, DS-1168 also designed a flying saucer-shaped base for it. When they are combined, the appearance is full of science and technology, and the base can provide more lasting power for the speaker.

DOSS New achimo

　　DOSS New achimo integrates the technical achievements of DOSS Audio R&D Center for many years, and adopts advanced NdFeB speakers, Air Bass pneumatic booster vibrating basin technology, and the perfect balance of high, medium and low frequencies, which ensures the sound quality.

DOSS New achimo

　　Although it is the most authentic Bluetooth speaker, achimo can also connect computers and other devices as audio sources, and input audio signals through the LINE IN interface, which is convenient for people who often use notebooks and have requirements for notebook sound effects. However, the small interface can well expand the audio function.

　　Editor’s comment:No matter from the market performance or the product itself, DOSS New achimo is definitely one of the most successful Bluetooth stereos this year. Its humanized intelligent "human voice" prompt function leads the whole industry, and with the design of its own mobile power supply, the new achimo is definitely a Bluetooth stereo that can’t be missed.

Recommended product: Shengbao T2
Reference quotation: 188 yuan

Shengbao T2 Athena　　picture　　evaluating　　forum　　quote　

　　Shengbao T2 Athena Bluetooth Audio is a Bluetooth portable audio newly launched by Shengbao, which has been liked by many users as soon as it went on the market and received rave reviews from the industry. This sacred treasure T2 Athena, like its name, is elegant and generous, small and portable, and exquisite in workmanship, which will definitely make you fondle it.

Shengbao T2

　　Shengbao Athena T2 Bluetooth speaker has a variety of colors to choose from, such as black, red and silver. The design of this audio is round and compact, which is equivalent to the size of small canned Wangwang milk. It is basically difficult to find a Bluetooth audio product smaller than it, which is very light and easy to carry.

Shengbao T2

　　T2 audio adopts a cylindrical appearance, with a flat bottom and two foot pads. The foot pads have strong adsorption to glass, which is convenient for audio placement. Most of the accessories of Shengbao T2 speaker are made of frosted metal, and only the key part is made of a piece of plastic, so the overall weight is good and the workmanship is solid.

Shengbao T2

　　Through the white metal net cover, we can see that the angle between the speaker unit and the horizontal desktop is about 45 degrees. This kind of inclined speaker is still effective for improving the sound effect of near-field listening.

　　Editor’s comment:Shengbao T2 is compact in design, exquisite in production, flexible in color matching and very fashionable. With a universal Bluetooth wireless interface, it is very convenient to connect various Bluetooth playback devices for music playback. The most innovative thing is to support hands-free calls on mobile phones, and its price of 188 yuan is very competitive in the market.

Recommended products: DoubleLe HT2009BABY
Reference quotation: 258 yuan

DoubleLe HT2009BABY Bluetooth Hands-Free Speaker　　picture　　evaluating　　forum　　quote

　　Doublele HT2009BABY Bluetooth hands-free speaker is a hands-free speaker suitable for computers, mobile phones, tablet computers and other devices with Bluetooth connection. It is small in size and can be held in one hand. The body is made of metal material, which is very classy and textured.

Beijiale HT2009BABY

　　Doubletree HT2009BABY Bluetooth speakerphone has 5 colors to choose from, including pink, space blue, ruby red, pearl silver and all black.

Beijiale HT2009BABY

　　The power switch of Dole HT2009BABY Bluetooth hands-free speaker is designed at the bottom, so that it will not be turned off due to wrong pressing of other buttons or collision. The function keys of the sound box are set on the bottom side, including volume increase key, increase and decrease key and a multi-function key (play pause key/answer key).

Beijiale HT2009BABY

　　The other bottom side of Doubletree HT2009BABY is the audio input port and USB hole, which can be played by wired input besides wireless. The bass unit of the speaker is designed at the bottom, and the heavy bass effect is achieved by using the contact surface resonance.

　　Editor’s comment:Doublele HT2009BABY has a good sound quality, and with its compact and portable figure and Bluetooth connection function, it can be said to be very practical. Friends who like it may wish to pay more attention to this product.

Recommended products: Shengpaisi Cool Listening C3BR
Reference quotation: 198 yuan

Sound, think and listen to C3BR.　　picture　　evaluating　　forum　　quote

　　The C3BR speaker is only the size of a fist, but it is very powerful. It has the functions of external amplification, call, Bluetooth and so on. It is definitely an indispensable thing for hipsters and is also very useful for drivers!

Sound, think and listen to C3BR.

　　Sound Paisi Cool Listening C3BR Listening is compact, novel in design, like tennis, and can be put in your pocket and schoolbag, with strong portability, so you can take it wherever you go! Adopt ABS special plastic, which is earthquake-resistant and fall-resistant, five-layer paint technology, wear-resistant and colorfast, and the outer layer uses thread design, which is anti-slip and fashionable, and can also compress and stretch. It can be said that concentration is the essence, which is vividly reflected in this product!

Sound, think and listen to C3BR.

　　Sound Paisi Cool Listening C3BR Listening adopts a special telescopic cavity, which can get the best foreign sound quality when playing music, especially the bass is powerful after marriage, and the effect is remarkable. The speaker is equipped with USB interface, 3.5mm standard interface, etc., which can realize the connection and charging with mobile phones, notebooks and other computers. The best thing is, of course, this speaker also has Bluetooth module, which has strong anti-interference ability, rapid pairing and stable signal. As long as Bluetooth is turned on, it can be wirelessly transmitted with other devices, getting rid of the shackles of transmission lines.

Sound, think and listen to C3BR.

　　It is worth mentioning that the C3BR also supports voice calls. After connecting Bluetooth, you can answer the phone and hang up through the control keys on the speaker, which is especially convenient for drivers. The battery life of this speaker is also good, and it can be used continuously for about 6 hours at a time.

　　Editor’s comment:Sound Paisi Cool Listening C3BR is compact and powerful. It can amplify, talk, listen and speak externally. With the addition of Bluetooth function, it is convenient and practical. Friends who plan to buy portable Bluetooth audio may wish to pay attention to it.

PConline summary:

　　Judging from the current situation, portable Bluetooth stereos are small and portable, supporting Bluetooth and voice calls, and some products even add mobile power or even intelligent voice prompt design, which makes the selling point of products more prominent. At the same time, we found that the established speakers such as rambler and Sannuo have not set foot in the field of portable Bluetooth audio, but prefer to integrate Bluetooth functions on the basis of existing products. On the contrary, many micro-audio manufacturers are in the middle of this "gold mine" and are planning to enter the market as quickly as possible to seize the share. In the near future, this market will definitely become more lively and chaotic. We hope that the portable Bluetooth audio market will not repeat the micro-audio.