作者： admin

Listed company Yabaite’s performance fraud： the fictitious cross-border big bill of 1 billion yuan is from a 20-square-meter store

CCTV News:Recently, the CSRC investigated and dealt with a cross-border financial fraud case of a listed company, which not only bought and sold its own building materials, but also faked transnational business. Moreover, I also want to take advantage of the "One Belt, One Road" east wind to make fake business in Pakistan. However, after cross-border investigation by the regulatory authorities, participating in Pakistan’s projects is completely false, and the company has lied in the annual report.

In August, 2015, Yabate successfully went public by backdoor. The annual report of that year showed that Yabate’s income from the urban rapid transit line project with Multan, Pakistan exceeded 200 million yuan, accounting for 21.8% of the total annual sales. The transnational business of such a large order makes Yabate’s annual report "sparkling". However, the investigators found that this income was problematic.

Investigators of CSRC:As far as the capital chain is concerned, after our investigation, the payback of Yabate mainly comes from the company controlled by Yabate itself, and there are other companies in China, which are not transferred by the Pakistani side at all.

It is understood that the owner of Multan project in Pakistan is Multan Development Agency, with a total investment of more than 350 million US dollars. However, the Multan Development Agency has not cooperated with Yabate at all, and the income mentioned in the annual report is completely false.

Investigators of CSRC:The investigation found that Abbott did not participate in the construction of this project at all. It found an overseas company to forge a false construction contract, but the contract was never fulfilled.

In order to lie, Yabate also directed and performed a "good play" of exporting building materials to Pakistan.

Investigators of CSRC:In the process of building this project, Yabate exported a batch of building materials overseas, and their company claimed that these building materials were used for the construction of this bus station in Multan, Pakistan. However, after our investigation, we found that these building materials were not actually shipped to Pakistan, but were imported back through a third-party company, which achieved the illusion that a fictitious overseas project was under construction in this way.

The CSRC once asked the company and relevant intermediaries to go to Multan to verify the project, but the relevant personnel of Yabate have never been to Multan, Pakistan, and the photos of the construction site are all fake.

73% profit fraud of Yabate

The biggest gain in the annual report turned out to be fraud, and Yabate Company is indeed courageous. However, the investigators found that in addition to counterfeiting this large transnational bill, Abbott had even more bizarre lies.

In 2015, Yabaite transferred the funds to its affiliated companies such as Shanghai Yuanpan and Shanghai Xuanyi by means of false procurement, and then transferred the funds back in the name of sales money through customers such as Shanghai Gui Liang and Shanghai Jiuren, so as to build a capital cycle and forge a "real" capital flow.

In the same year, Yabate forged false export contracts for building materials with overseas companies, transported the goods declared for export to Angola to Hong Kong, and then imported the goods back to China by its affiliated companies.

Investigators of CSRC:He transferred the money from domestic companies to the customs in the form of international trade, and then transferred the money back to China from the customs in the form of import, in this way to forge a real fund.

It is confirmed that from 2015 to September 2016, Yabate inflated its operating income by about 580 million yuan and inflated its profit by nearly 260 million yuan through fictitious overseas engineering projects, fictitious international trade and domestic trade, among which inflated profit in 2015 accounted for about 73% of the total profit for the current period.

Exclusive exposure of 1 billion yuan of fake accounts from 20 square meters stores.

In 2015, 73% of Yabaite’s profits were false. Yabaite worked hard to falsify its performance. Why?

It is understood that Yabaite is willing to make fraud, which is related to performance gambling.

Investigators of CSRC:First of all, in order to fulfill the performance promise and increase the income falsely, this is his purpose. Because he has made a commitment to the performance in 2015, 2016 and 2017, he must meet certain standards, otherwise he will use shares to make compensation.

Investigators found that Yabaite’s fraud cost was extremely low, and hundreds of millions of dollars of bills were actually completed in a 20-square-meter cabin in Shanghai. During the investigation, the inspectors found that there was only one accountant and one assistant who didn’t understand accounting in this shop, but they managed the capital flow of six major suppliers and four billing companies of Yabate.

Investigators of CSRC:The financial personnel of these six major suppliers and four accounting companies have only one financial manager, He Mou, and then he has an assistant, who is not a financial person and does not know much about accounting, but the capital flow in 2015 has reached nearly 1 billion.

In order to falsify, Yabate used more than 50 companies in 7 countries and regions to transfer funds, more than 100 bank accounts, and often transferred funds through bank bills and third-party payments, with complicated channels. In order to verify these account information, inspectors have almost traveled to all major banks in Shanghai.

Resist the investigation of the suspect’s "hurricane" acting skills

As the case became clear step by step, the investigators began to inquire about the relevant personnel of Yabaite, but they encountered unexpected things.

Investigators of CSRC:At that time, when we investigated Abbott, we found that many of its bookkeeping companies and suppliers were shell companies, so we asked Abbott to provide the contact information of suppliers to the CSRC, and Abbott has been shirking. After our repeated urging, they gave us the contact information of Han, a company called Yixun New Energy’s actual control.

Investigators immediately asked Han about the business development of Xunxun New Energy. Contact found that Han was actually a "smoke bomb" placed by Yabate to "fool" investigators and delay time.

Investigators of CSRC:In the case of our pressing step by step, he just couldn’t get the lie round, and then he struck a table with us, saying that the business of shining new energy was his privacy, and the China Securities Regulatory Commission had no right to investigate him.

Through the smoke bomb, the investigators finally found the core personnel of the case.

Investigators of CSRC:When our staff were investigating and collecting evidence, a man with dark skin suddenly came. When he saw that we were retrieving the document from the computer, he immediately turned off the switch of the shop. He told us that this was their privacy and our CSRC had no right to retrieve it. Then, after asking, we found out that he was the one who participated in the fraud.

Li is a key role. Li is the vice president of Yabate and the president of the key account division in the internal address book of Yabate, and conducts business as an employee of Yabate, but actually has no formal labor contract relationship with Yabate. At the same time, he is the controller of seven Yabaite suppliers, including Shanghai Xuanyi. Through Li’s manipulation of the upstream and downstream companies of Yabate, the investigators found that the fictitious trade between Yabate and these companies was nested and extremely complicated.

Overseas investigation creates new efficiency of supervision.

In order to avoid the investigation, Yabate chose to lie abroad. I thought it was a lie, and the CSRC could not reach that far. But they didn’t expect that the CSRC used the big trick of cross-border investigation.

Because Yabaite’s fraud involves cross-border trade, involving Pakistani, Singaporean, American and other places, it received a request from the China Securities Regulatory Commission, and the local securities regulatory commission gave strong assistance, and mastered the core evidence within one month, which greatly increased the efficiency of the case process and achieved remarkable results.

Investigators of CSRC:The construction site and the performance site of the project are all overseas. Yabate may consider that the China Securities Regulatory Commission may not have the strength to conduct this investigation and can go to Pakistan to investigate. However, in recent years, China Securities Regulatory Commission has signed memorandums with securities regulators in more than 60 major countries and regions around the world, and we can seek the help of these regulators through international investigation.

Multi-pronged anti-counterfeiting by CSRC in progress

It is understood that the Yabaite fraud case is the first batch of special enforcement actions of the CSRC in 2017, which refers to the financial fraud of listed companies that the market hates. Such cases are characterized by large-scale fraud, hidden fraud methods, systematic fraud, obvious cross-border trend and many anti-investigation methods, which are extremely harmful to the market.

Yabate’s financial fraud case is the first cross-border manipulation case of Shanghai-Hong Kong Stock Connect — — After Tang Hanbo’s market manipulation case, the CSRC investigated another cross-border illegal case. At the end of last year, relying on the law enforcement cooperation mechanism of Shanghai-Hong Kong Stock Connect, the Tang Han case was successfully uncovered, ensuring the smooth progress of the interconnection of the capital markets of the two places.

The CSRC said that it will further strengthen criminal law enforcement cooperation with public security and judicial organs; Continue to strengthen the front-line supervision function of the exchange, and continue to severely investigate and deal with financial fraud of listed companies. Once verified, they will be thoroughly investigated.

Is the family education order enforceable？ Will the court order parents to bring their babies according to law？ Supreme law response

Opposing unfair competition, maintaining market fairness and promoting economic development need the escort of the court. Similarly, from today’s (March 8) work report of the Supreme Court, we can also see that protecting a home also requires the strong support of the judiciary.

Protect the harbor of family happiness and the healthy growth of minors.

Resolutely oppose domestic violence, severely punish perpetrators according to law, and work with the All-China Women’s Federation to promote the effectiveness of personal safety protection orders, and issue 3,356 personal safety protection orders. Strengthen the protection of the rights and interests of women and children. Strengthen the judicial protection of the elderly and implement the provisions of visiting the elderly in the judgment. Through family trials, we will maintain and carry forward the traditional virtues of the Chinese nation of attaching importance to the family, respecting the elderly and loving the young.

Protect the healthy growth of minors. Adhere to the principle of the best interests of minors, and ensure that minors receive special and priority protection according to law. Admonish some parents for improper family education and ordering "young marriage" for their children, and issue family education orders, so that "taking care of children according to law" becomes a compulsory course for parents.

The word "bringing a baby according to law" mentioned in the report became popular with the implementation of the Family Education Promotion Law.

On January 6, 2022, the Tianxin District People’s Court of Changsha tried a dispute over the change of custody, and issued a Family Education Order to the guardian in view of his dereliction of duty, ordering him to pay more attention to the living conditions of the ward. This is the first family education order in China after the entry into force of the Family Education Promotion Law.

Is the family education order mandatory? Under what circumstances, the court will explicitly order parents to "bring the baby according to law"?

Guo Jingkun, Director of the Supreme People’s Court Office:Family education orders are mandatory. After receiving the family education order, if you don’t follow the relevant regulations, you may be fined, detained or even investigated for criminal responsibility according to law.

Family education bears the heavy responsibility of educating people, which is related to the healthy growth of minors and the future of the country. However, we have encountered many such situations. Some parents can’t correctly carry out family education and are lazy in fulfilling their obligations of custody. For example, in this case tried by the Tianxin District Court in Changsha, both the original defendant and the defendant failed to fulfill their obligations of education and protection, and ignored their children’s school and psychological and emotional needs. The court issued a family education order.

Others think that "a dutiful son is born under the stick" and educate children by beating and cursing; Some people leave their children alone after divorce. In this case, the people’s court should play a functional role, stop and correct the illegal acts according to law, and at the same time strengthen the publicity of popularizing the law and tell parents by law how to be a qualified parent. At the same time, we are also exploring the establishment of relevant mechanisms, the formation of specialized teams, the strengthening of regular return visits, follow-up and assistance, and the provision of continuous family education guidance and assistance, and the use of judicial power to protect the healthy growth of minors.

There’s an old saying, "When you are old, you will grow old.". In addition to how to teach children, the work report of the Supreme Law also mentioned that "visiting the elderly in the judgment". In another case, the old lady was 90 years old and had four sons and three daughters. Her wife died and she had been supported by her four sons in turn. Since February 2021, the eldest son stopped supporting the elderly because he could not get the house property, and then the rotation support was interrupted. The old man lived in his daughter’s house and appealed to the court to order his four sons to perform their maintenance obligations. The court ordered the four sons of the old man to pay alimony and share the future medical expenses.

In this case, the rights and interests of women, children and the elderly in the family who need special protection are mentioned in the work report of the Supreme Law every year. What kind of concept does it advocate?

Guo Jingkun, Director of the Supreme People’s Court Office:Family trial has always been an important content in the work report of the Supreme Court. Paying attention to family, harmony between husband and wife, respecting the old and loving the young are traditional virtues of the Chinese nation, and they are also the important value pursuit of family trial.

It is a matter of course to support the elderly, but in recent years, due to various reasons, there have been some problems of not supporting the elderly and respecting the elderly. In some cases, the elderly don’t want money because they want their children to "visit home often". At present, when trying cases involving the elderly, the people’s courts have gradually expanded from focusing on the protection of property rights and interests to the comprehensive protection of the property, safety and emotional needs of the elderly, promoting the improvement of the quality of life of the elderly and ensuring a sense of security for the elderly.

In addition, on the basis of deepening the reform of family trial in previous years, courts at all levels have continuously increased the protection of the legitimate rights and interests of women, children and the elderly. For example, resolutely oppose domestic violence, work with relevant departments to improve the anti-domestic violence mechanism and build a "wall" for victims. And what we just said, strengthen the care for minors, enhance the awareness of self-protection and family protection of left-behind children, and so on. Through the rule of law thinking and the rule of law, we advocate the concept of "home and everything prospers", so that the Chinese nation can attach importance to the traditional virtues of family and pass them on from generation to generation.

In the first four months, China’s foreign trade grew steadily, and the European Union was the largest trading partner.

　　Beijing, 8 May (Reporter Du Haitao) According to customs statistics, the total import and export value of China’s goods trade in the first four months of this year was 9.51 trillion yuan, an increase of 4.3% over the same period last year. Among them, exports were 5.06 trillion yuan, an increase of 5.7%; Imports were 4.45 trillion yuan, up 2.9%; The trade surplus was 618.17 billion yuan, an increase of 31.8%. In April, China’s total import and export value was 2.51 trillion yuan, an increase of 6.5%. Among them, exports were 1.3 trillion yuan, an increase of 3.1%; Imports reached 1.21 trillion yuan, up by 10.3%; The trade surplus was 93.57 billion yuan, narrowing by 43.8%.

　　Figures released by the General Administration of Customs show that in the first four months, China’s foreign trade import and export mainly showed the following characteristics:

　　New progress has been made in improving the quality and efficiency of foreign trade. In the first four months, China’s general trade import and export was 5.68 trillion yuan, up 6.6%, accounting for 59.8% of China’s total foreign trade value, up 1.3 percentage points over the same period of last year, and the endogenous power of foreign trade development was further enhanced. The import and export of private enterprises was 3.9 trillion yuan, up 11%, accounting for 41% of China’s total foreign trade, up 2.5 percentage points over the same period last year. Private enterprises have become the main driving force for China’s import and export growth, and the motivation for enterprises to participate in foreign trade development has become stronger.

　　Diversification of trading partners was actively promoted. In the first four months, China’s imports and exports to major markets such as the European Union, ASEAN and Japan all increased, and the growth rate of imports and exports to countries along the Belt and Road was higher than the whole. Among them, China’s total import and export to countries along the "Belt and Road" was 2.73 trillion yuan, up 9.1%, 4.8 percentage points higher than the national overall growth rate, accounting for 28.7% of China’s total foreign trade, and the proportion increased by 1.3 percentage points.

　　The structure of import and export commodities was further optimized. In the first four months, China’s mechanical and electrical products exported 2.97 trillion yuan, up 4.5%, accounting for 58.6% of the total export value. Among them, the export of electrical and electronic products was 1.33 trillion yuan, an increase of 4.9%; Mechanical equipment was 890.56 billion yuan, an increase of 3.9%. Imports of crude oil, natural gas and other commodities increased, soybean imports decreased, and the average import price of bulk commodities rose and fell.

　　Li Kuiwen, spokesman of the General Administration of Customs and director of the Statistics and Analysis Department, said that China’s foreign trade import and export remained generally stable in the first four months of this year, and the "stability" of the domestic economy was an important support for the "stability" of foreign trade. According to the main economic data, the purchasing managers’ index (PMI) of China’s manufacturing industry was 50.1% in April, which remained in the expansion range. Judging from the sub-indices, the growth rate of market supply and demand has dropped slightly, but it is still at a relatively good level, and external demand tends to improve. Since last year, the effects of a series of policies to stabilize foreign trade and foreign investment have been further released, and a good development environment for foreign trade has continued to be created.

　　Since the beginning of this year, some international organizations have lowered the growth rate of global economy and international trade, and the exports of major economies around China have even declined for several months. In this context, the steady growth of China’s foreign trade in the first four months will help boost world economic confidence and stabilize global trade.

　　Statistics show that in the first four months, the EU was China’s largest trading partner, with a total trade value of 1.5 trillion yuan, an increase of 11.8%, accounting for 15.7% of China’s total foreign trade. ASEAN is China’s second largest trading partner, with a total trade value of 1.28 trillion yuan, up 9%, accounting for 13.4% of China’s total foreign trade.

How to transfer used cars？ Please remember the following process.

　　Buying is common in most countries, but it is still new in China. Last year, the United States sold about 39 million vehicles and 17 million vehicles. In China, it’s just the opposite: 29 million, only 12 million.

　　

　　There is a reason for this phenomenon in China automobile market. In the past, low-quality manufacturing limited the life of domestic cars, and potential buyers could hardly determine the owner and the accident history of the car. The industry is highly dispersed and has a bad reputation.

　　However, all this is changing.Many domestic cars can now compete with global quality standards. The government has begun to lift the restrictions on cross-provincial sales, at the same time, consumers are also dispelling their concerns and realizing that buying is more cost-effective. It can be said that the future will only get bigger and bigger, and more and more people will buy it.

　　What we are going to talk about below is how to transfer the ownership, and collect it in case it is used one day.

　　Materials to be prepared for transfer

　　

　　[Seller’s owner]

　　● Original and photocopy of the owner’s ID card (if the agent needs the original and photocopy of the agent’s ID card)

　　● Original and photocopy of vehicle registration certificate (that is, the green one we often say).

　　● Original and photocopy of vehicle driving license

　　● Original vehicle purchase invoice or last transfer invoice.

　　● Certificate of tax payment (no longer needed in some areas)

　　If the seller is a unit, the original and copy of the organization code certificate (with official seal) are required. As long as both husband and wife are present, they can go to the vehicle management office to fill out the application form with their marriage certificate or household registration book, driving license and ID card, and there is no need for any fees.

　　[Buyer’s owner]

　　● Original and photocopy of car purchase index (restricted purchase area)

　　● Original and photocopy of the ID card of the buyer.

　　● If the buyer is a foreign resident, he must also prepare a temporary residence permit or residence permit.

　　● Registration Form/Transfer Application Form for Motor Vehicle Registration, Transfer and Cancellation

　　If the buyer is a unit, the original and copy of the organization code certificate (with official seal) are required.

　　Transfer process details

　　There are transfer halls in most parts of the country, where you can transfer your ownership directly. If there are no individual areas, you can go to the local vehicle management office for transfer.

　　

　　1. Fill in the Sales Contract for Used Motor Vehicles: The contract is made in triplicate, one for the seller, one for the buyer and one for the industrial and commercial department.

　　2. Vehicle inspection: drive the vehicle to the vehicle inspection office for procedures such as vehicle inspection, extension, license removal, photo processing, etc., and fill out an Inspection Record Form, which requires payment of extension fee.

　　3. Pay transfer fees: Return to the transfer hall to pay transfer fees.

　　4. Transfer Acceptance: After filling in the Registration Form for Motor Vehicle Registration, Transfer and Cancellation/Transfer-in Application Form, go to the transfer acceptance window to go through the relevant formalities.

　　5. Pay the licensing fee: Pay the licensing fee with the receipt that has just been transferred and accepted.

　　6. Insurance transfer: Insurance transfer can be handled by the transaction hall or by the original insurance company. When trading in different places, the insurance does not have to be transferred, but it can be returned directly, but it needs to be kept.

　　When transferring insurance, you need to prepare the ID card, driving license, motor vehicle registration certificate, original insurance policy and other materials of the new and old owners, and you can handle it yourself.

　　Transfer process of emigration

　　1. Fill in the Sales Contract for Used Motor Vehicles: The contract is made in triplicate, one for the seller, one for the buyer and one for the industrial and commercial department.

　　2. Vehicle inspection: drive the vehicle to the vehicle inspection office for procedures such as vehicle inspection, extension, license removal, photo processing, etc., and fill out an Inspection Record Form, which requires payment of extension fee.

　　3. Filing: After 3 working days, if the vehicle passes the inspection, the public security vehicle management department will collect the original number plate and driving license, and sign in the change registration column of the driving license and the Application Form for Motor Vehicle Registration, "Transfer to dmv, a public security department (bureau) in a certain province", and put it in the file together with the Notice of Motor Vehicle Transfer, and then mail it or hand it over to the owner himself to take it to the new dmv for settlement.

　　

　　What conditions can’t be transferred?

　　1, the application for the owner’s seal is inconsistent with the original registered owner’s seal;

　　2, unauthorized modification, modification to change the load quality, the number of passengers;

　　3, violation of regulations, the accident is not handled and closed, or the public security organ has doubts about the vehicle;

　　4. Those who have reached the retirement age (for vehicles that have reached the retirement age but are in good technical condition and are used for their own use, after passing the special inspection, they will be allowed to apply for transfer registration within two years after reaching the retirement age, but they are not allowed to transfer their registration);

　　5, did not participate in regular inspection or inspection unqualified;

　　6, less than three months into the home (less than two years after the initial registration of imported cars, except for court decisions);

　　7, the people’s court notice of freezing or mortgage period is not full;

　　8, is controlled to buy vehicles without a "declaration of license certificate";

　　9. Imported cars are under customs supervision and have not been released from supervision.

　　Matters needing attention in signing transfer contract

　　Clarify related matters

　　When signing the transfer contract, we should pay attention to the words in the contract, such as the liability for breach of contract and related formalities. In addition, the related matters determined by the buyer and the seller during the transaction should be reflected in the contract in writing.

　　Changes in relevant procedures

　　For the change of insurance procedures, it is stipulated that "if the risk degree is significantly increased due to the transfer of the subject matter insured, the insurance company may increase the insurance premium or terminate the contract in accordance with the contract within 30 days from the date of receiving the notice. If the insured and the transferee fail to fulfill the prescribed notification obligations, the insurance company will not be liable for compensation for the insurance accident that occurs due to the significant increase in the risk of the subject matter insured due to the transfer. " That is to say, if the buyer does not change the insurance procedures of the vehicle, it will cause difficulties in insurance compensation.

　　

　　Summary:

　　Many manufacturers have launched certified plans, and Internet services are rapidly proliferating. Last year, Chinese bought 1.3 million vehicles through the Internet platform, which proved that it was gradually improving, and consumers should feel at ease.

High-tech and high value-added products have become new growth points and new advantageous industries for export.

　　CCTV News:The General Administration of Customs announced on May 9 that in the first four months, China exported 4.44 trillion yuan of mechanical and electrical products, an increase of 10.5%, accounting for 57.9% of the total export value. Among them, the automobile was 204.53 billion yuan, an increase of 120.3%.

　　In the first four months of this year, China’s "new three products" of electric manned vehicles, lithium batteries and solar cells exported a total of 353.48 billion yuan, a year-on-year increase of 72%. Exported to more than 200 countries and regions around the world, it increased the overall growth rate of exports by 2.1 percentage points.

　　Products with high technology, high added value and leading green transformation, represented by the "new three kinds" of foreign trade, are becoming new growth points and new advantageous industries for China’s exports.

Global News： Biden decides to run for re-election for Apple next year or will launch a variety of new products in June.

　　On April 17th, last week, two important economic figures in the United States, CPI and PPI, showed that inflation was continuing to cool down, which boosted market sentiment, and US stocks recorded cumulative gains throughout the week. However, Friday’s retail sales data fell more than expected, indicating that the momentum of US economic growth has weakened, and the market is evaluating the risk of recession trading. And the next earnings season will also bring more tests to investors.

　　Some analysts pointed out that the biggest factor affecting the US stock market in the coming week will be corporate earnings, which is particularly important considering the possibility of profit recession. However, judging from several banking stocks that took the lead last week, the performance has so far exceeded expectations.

　　In addition, the market is still concerned about whether the Federal Reserve will raise interest rates in May. Judging from the current market pricing, the final increase is a foregone conclusion. According to CME’s "Fed Watch", the probability of the Fed keeping interest rates unchanged in May is 21.5%, and the probability of raising interest rates by 25 basis points is 78.5%. The probability of maintaining interest rates at the current level by June is 15.8%, the probability of raising interest rates by 25 basis points is 63.4%, the probability of raising interest rates by 50 basis points is 20.8%, and the probability of lowering interest rates by 25 basis points is 0%.

　　However, it is worth noting that there are continuous differences within the Fed. The directors believe that the effect of controlling inflation is minimal and it is necessary to continue to raise interest rates, while the chairman of the Chicago Fed calls for not being too radical. This shows that after the aggressive interest rate hike, officials are also concerned about inflation and economic prospects in the United States.

　　In terms of weekend news, US President Biden said on Friday that he has decided to run for re-election and will officially announce his campaign "soon". This means that it is possible that Biden will face Trump again next year.

　　G7 emphasizes the commitment to accelerate the phase-out of unreduced fossil fuels, and to achieve net zero emissions in the energy system by 2050 at the latest. The seven countries agreed on a $4 billion action plan for key minerals (down from the planned $7.5 billion).

　　On the enterprise side, Musk established an artificial intelligence (AI) company named X.AI in Nevada, USA, aiming to compete with Open AI, the development company of ChatGPT. Under the wave of AI, the technology madman is naturally unwilling to lag behind. The front foot is still criticizing ChatGPT, and the back foot has purchased 10,000 GPUs.

　　According to informed sources, Musk is forming a team of AI researchers and engineers. He also discussed the issue of investing in this new company with some investors from Tesla and SpaceX. These investors are very excited about this. Earlier this year, in response to the rapid development of Open AI, Musk began to explore the idea of setting up a company to compete with it.

　　[Market Review]

　　Last week, the S&P 500 rose 0.79%, the Nasdaq Composite Index rose 0.29% and the Dow Jones Industrial Average rose 1.2%.

　　[One-week preview]

　　[Weekend Highlights]

　　Biden: I have decided to run for re-election and will officially announce it "soon"

　　According to CCTV news, last Friday, local time, US President Biden said that he had decided to run for re-election in the 2024 US presidential election and would announce his campaign as soon as possible.

　　US President Joe Biden said on Friday that he has decided to run for re-election and will officially announce his campaign "soon". "We will announce it relatively quickly. This trip to Ireland has made me more optimistic about what I can do, "Biden told reporters at the end of his trip to Ireland. "As I said, my plan is to run again."

　　It is reported that Biden’s close assistants and allies have privately launched actions to establish relevant deployment and fundraising mechanisms for the 2024 election campaign.

　　Sword finger ChatGPT Musk set up an artificial intelligence company to compete with Open AI.

　　It is reported that Musk established an artificial intelligence (AI) company named X.AI in Nevada, USA, aiming to compete with Open AI, the development company of ChatGPT.

　　According to informed sources, Musk is forming a team of AI researchers and engineers. He also discussed the issue of investing in this new company with some investors from Tesla and SpaceX. These investors are very excited about this. Earlier this year, in response to the rapid development of Open AI, Musk began to explore the idea of setting up a company to compete with it. For this new project, Musk has obtained thousands of high-performance GPU processors from NVIDIA.

　　OpenAI CEO: the scale of large language model is close to the limit, not the bigger the better.

　　Sam Altman, co-founder and CEO of OpenAI, talked about the development trend and security issues of Large Language Model (LLM) at MIT’s "Imagination Action" activity.

　　He believes that OpenAI is approaching the limit of LLM scale. The larger the scale, the better the model may be, but it may be just to pursue a number. The scale of LLM is no longer an important indicator to measure the quality of the model, and there will be more ways to improve the ability and utility of the model in the future.

　　Retail sales in the United States slowed down more than expected in March, falling 1% from the previous month, and the year-on-year growth rate of retail sales hit a new low of nearly three years.

　　In March, retail sales in the United States decreased by 1% month-on-month, much worse than the expected growth rate of -0.4%, and the growth rate in February was revised from -0.4% to -0.2%. Retail sales only increased by 2.9% year-on-year, which is the lowest annual growth rate of retail sales since June 2020. Of the 13 categories, only 5 have increased. The "lag" of the Federal Reserve’s monetary policy, coupled with the impact of the banking crisis on spending, is beginning to emerge.

　　Differences within the Fed have intensified.

　　Federal Reserve Governor Waller said that recent data show that the Fed has not made much progress in the inflation target, and interest rates need to rise further. Bostic, president of the Atlanta Federal Reserve, said that after raising interest rates again, the Fed can suspend interest rate hikes and evaluate them.

　　US media: Apple will launch a number of new watchOS products in June or welcome major updates.

　　According to Interface News, on April 17th, reporter Mark Gurman wrote in his column PowerOn that the global developer conference that Apple will hold in June will be one of the most critical events in the company’s history-it will be an opportunity to herald the post-iPhone era and make its existing devices more attractive. Apple’s MR (Mixed Reality) head show will be the highlight of this conference, but other products will also be exhibited. It is reported that this includes the new Mac laptop and the biggest update to Apple Watch software since the first version was launched in 2015. Generally speaking, the company is planning to launch: Reality Head Show, Apple’s first major new product category in the past decade; New xrOS operating system and software development kit; New MacBook device; iOS17； iPadOS17； macOS14； watchOS10。 Among them, the updated versions of iOS and iPadOS are unlikely to provide major new features; The new Apple Watch operating system will bring greater improvements, including a new interface.

　　Musk: It is extremely difficult to achieve mass production and positive cash flow, and the car price is low enough to survive.

　　Musk wrote on Twitter on Thursday: "It is extremely difficult to achieve mass production and positive cash flow." The billionaire’s comments are a response to an old video shared by Twitter users. In that video, Musk said that in order to survive, the new company should be able to solve the problems of autonomous driving and electrification, and at the same time make a very "eye-catching" car and realize mass production, so that the cost of the car is low enough and the price does not exceed people’s affordability.

　　[financial calendar]

Focus on enterprise credit reporting： 18.8% of enterprises are listed in the business exception list.

　　Editor’s note: People can’t stand without faith, and businesses can’t thrive without faith. The General Secretary of the Supreme Leader pointed out that for the outstanding lack of honesty, it is necessary to establish a credit information system covering the whole society, and to improve the law-abiding honesty reward mechanism and the punishment mechanism for breaking the law, so that people dare not break their promises and cannot break their promises.

　　How to establish a credit information system covering the whole society? How to break the information island, make it difficult for the untrustworthy to move, and make the trustworthy smooth all the way? Starting today, this newspaper launched a series of reports, focusing on the construction process of China’s enterprise credit information system, showing the status quo, experience and difficulties of enterprise credit information construction through three levels: national, local and market-oriented institutions.

　　What are the consequences of corporate dishonesty?

　　The loan failed, the business almost flew, and the bidding qualification was lost … … These are real cases that happened all over the country.

　　How do you know whether an enterprise has broken its promise?

　　The credit of an enterprise is not its privacy. You don’t need any authority to query it. Just log in to the national enterprise credit information publicity system and enter the enterprise name, unified social credit code or registration number, and the credit information of the enterprise can be seen at a glance.

　　At present, the national enterprise credit information publicity system has been basically completed and has become a powerful tool to strengthen supervision after the event. This information platform, led by the State Administration for Industry and Commerce, weaves the enterprise data of various departments and localities into a "national network", credit loopholes are tightening, credit punishment is intensifying, and the credit pattern of "one place is broken and everywhere is limited" is taking shape. How was this "net" covering the whole country built? How to form joint punishment with financial management departments and judicial departments? Is online and offline enterprise supervision unified?

　　The national enterprise credit information publicity system has become an important channel for all sectors of society to query enterprise credit information.

　　"Our company almost lost tens of millions of orders because it was included in the list of business anomalies by the national enterprise credit information publicity system." Mr. Miao, the relevant person in charge of the office of a power engineering design company in Nanjing, said.

　　It turned out that because the annual report was not submitted on time, Mr. Miao’s company was listed in the abnormal list, which made it impossible to enter the State Grid contractor management system and obtain power business orders. Although he later submitted the materials and applied to remove the abnormal list, Mr. Miao still had a lingering fear in retrospect.

　　The national enterprise credit information publicity system has become an important channel for all sectors of society to inquire about enterprise credit information. A large number of government departments, media, banks, commercial institutions and intermediary organizations inquire about enterprise information through the publicity system. By the end of March this year, there were 5.066 million market entities listed in the list of abnormal operations in China, including 4.629 million enterprises and 436,000 farmers’ professional cooperatives. Enterprises listed in the list of business anomalies account for 18.8% of the national enterprises, and farmers’ professional cooperatives listed in the list of business anomalies account for 23.5% of the national farmers’ professional cooperatives.

　　At first, it was not easy to break the information island.

　　As early as March 2014, the State Administration for Industry and Commerce opened a transitional national enterprise credit information publicity system, but there have been problems such as incomplete collection of enterprise information between regions and departments, weak infrastructure, and imperfect functions of supporting government management and serving the society.

　　In order to build a more comprehensive big data platform, SAIC has conducted special training for local staff, requiring the industrial and commercial and market supervision departments of all provinces, autonomous regions and municipalities to integrate information according to unified technical standards, data specifications and format specifications. At present, 31 provinces, autonomous regions and municipalities across the country have established information collection and open sharing mechanisms, effectively solving the problems of information islands, especially the decentralization, regionalization and fragmentation of enterprise information.

　　In order to break the information island between departments and form the result of "one place is broken and limited everywhere", SAIC has pushed the information data of business exception list to the departments of development and reform, commerce, land and resources, financial management and justice in real time. At the same time, it will also work with the Supreme People’s Court and the Ministry of Justice to impose business restrictions on those who have been executed for dishonesty and those who have been released from prison. At present, a total of 5,150,700 market entities listed in the business exception list have been pushed to relevant departments; By the end of last year, 3,364,100 "Lao Lai" provided by Gaofa had been legally restricted to 71,100 posts.

　　Open a shop online and operate in different places, but you can also run away from the temple.

　　"Why is the online store closed?" Mr. Fu, the owner of a clothing online shop in Ningbo, Zhejiang Province, opened the computer online shop as usual, but received a notice from the management of Tmall: your company ××× has been listed in the list of business anomalies, and you have been disqualified from operating in Tmall.

　　Worried that the online shop he had worked hard for several years was gone, Mr. Fu went to the local market supervision bureau to ask what the "business exception list" was about. After inquiring, the staff told Mr. Fu: "The system shows that your enterprise has been listed in the business exception list because the registered residence or business premises cannot be contacted. At the same time, there are many complaints and reports that do not cooperate with the investigation."

　　Mr. Fu was ashamed. "Actually, the comrades who handled consumer complaints called me several times, saying that my shop was complained a lot and asked me to handle it in the past. I am worried that I will lose money or be fined for handling consumer complaints. I think that my business is operating in a different place. Anyway, if you can’t find me, you won’t go. "

　　Mr. Fu’s idea is not a case. In recent years, online consumer complaints and reports have increased, and most of the reported objects are business households on third-party platforms such as Taobao, Tmall and JD.COM. Due to the strong concealment of network operators, most of them operate in different places. In the process of handling complaints and reports, it often happens that the reported subject cannot be contacted, or the reported subject does not cooperate with the investigation.

　　To this end, Ningbo Municipal Market Supervision Bureau has improved the operating procedures of the list of business anomalies and stipulated detailed evidence collection and approval procedures. In particular, we will carry out substantive verification for the lost enterprises that do not cooperate with the investigation, conduct on-the-spot verification and evidence collection through the registered address, and list the network operating enterprises that cannot be contacted in the business exception list and publicize them in the national enterprise credit information publicity system, so that enterprises that open stores online and operate in different places can not escape the punishment of dishonesty.

　　"Now I know that opening a shop online and operating in different places can also run a monk but not a temple." Mr. Fu said.

　　Record the illegal behavior of enterprises and give full play to the role of social co-governance

　　In the interview, the reporter found that some enterprises are actually operating in good condition, but they are listed in the business exception list because they have not reported on time.

　　An entrepreneur said frankly: the starting point of the business exception list system is very good, but many of our enterprises are often included in the business exception list only for a moment without an annual report, and the subjective fault is not great. Once listed in the list of business anomalies, corporate loans, signing contracts, bidding, and even personal travel, buying a house and a car, and schooling for children of corporate leaders are all restricted, and the scope of punishment is too wide, which has caused some obstacles to the development of enterprises.

　　How to treat the problem of "too wide punishment scope" reflected by some enterprises?

　　"First of all, enterprises should not treat the annual report as a trivial matter. Every enterprise should fulfill its due social responsibilities according to law, be responsible for its own actions, conduct annual reports and submit instant information according to law." Ma Fu, director of the Enterprise Supervision Bureau of the State Administration for Industry and Commerce, believes that the decision of banks and other institutions to restrict loans to enterprises or related responsible persons listed in the business exception list is a decision made by banks independently from the consideration of their loan risks. It shows that the awareness of credit supervision and social co-governance in all aspects of society is gradually strengthened, and the role of credit constraint is gradually playing.

　　At the same time, enterprises should not think that once they forget that the annual report is included in the business exception list, they will not be able to turn over, and they can apply for removal from the exception list after timely reporting. However, if the jar is broken, the list of three-year business anomalies will be included in the list of serious illegal and untrustworthy enterprises (commonly known as "blacklist") if it is not removed.

　　"The national enterprise credit information publicity system records every illegal behavior of the enterprise, which is evaluated by the market, by consumers, by banks and by traders, so as to better play the role of social co-governance. When all kinds of illegal acts enter the system, society will usher in an era of fair competition and good order. " The groom said.

Early ah! The news is coming [2016.08.02]

　 　 　 　　Latest this morning

　 　 　 　　This year’s No.4 typhoon "Nida" (strong typhoon level) landed at Dapeng Peninsula in Shenzhen at 3: 35 on the 2nd. When landing, the maximum wind force near the center was 14 (42m/s), and the lowest pressure in the center was 965 hectopascals. It is estimated that Nida will continue to travel northwest at a speed of about 25 kilometers per hour, and its intensity will gradually weaken. There are heavy rains or torrential rains in Guangdong, Guangxi, Fujian and other places. Among them, there are heavy rains in the Pearl River Delta and the eastern coastal areas of Guangdong, with a maximum wind force of 15. Seven cities may stop production, suspend classes and close the market!

　 　 　 　　In this regard, the National Defense General launched a Class II emergency response to prevent floods and typhoons, and the Guangdong Provincial Defense General launched a Class I emergency response to prevent typhoons and winds, and suggested that seven cities including Guangzhou stop work, stop production, suspend classes and close the market. In the history of Shenzhen, the first typhoon red warning was issued, and it entered a state of special emergency defense against typhoons, and started Class I emergency response against typhoons and floods, and stopped work, business, market and classes. Today, 600 pairs of trains in Guangzhou-Shenzhen-Guanhui area were shut down, and all high-speed trains were shut down. Most flights at Baiyun Airport and Shenzhen Airport will be cancelled from early morning to noon today.

　 　 　 　　important news

　 　 　 　　Yesterday, the navy organized a large-scale live-fire confrontation exercise in a complex electromagnetic environment in a certain sea area of the East China Sea. Three fleets of aviation, submarines, surface ships, coastal defense forces and some radar and electronic countermeasures forces participated in the exercise. This exercise is not aimed at specific countries or targets.

　 　 　 　　In response to the British side’s recent announcement to suspend the Hinkley Point nuclear power project, China’s Foreign Ministry responded that the project was reached by China, Britain and France in the spirit of mutual benefit and win-win cooperation, and has always been strongly supported by the British side and France. I hope that the British side will make a decision as soon as possible to ensure the smooth implementation of the relevant projects.

　 　 　 　　According to the Ministry of Civil Affairs, as of 9: 00 yesterday, various natural disasters have caused this year.140 million people were affected nationwide.,1,102 people died, 271 people were missing, and 6.46 million people were resettled.. Currently, has enteredThe most critical period of flood control and disaster relief is "seven downs and eight ups".We should further do a good job in disaster prevention and relief.

　 　 　 　　Yesterday, the Ministry of Communications publicly solicited opinions on the network car service specification, and proposed to stipulate that ① drivers should not cruise to attract passengers.We should not set up unified dispatching service stations at airports and railway stations, or wait for away passengers.; ② The performance index of network car should be significantly higher than that of local taxis; ③ The charging standard and service price shall be clearly stated.

　 　 　 　　At 12 noon yesterday, the South China Sea officially started fishing.After the sea sacrifice ceremony, more than 150 fishing boats set sail in turn, and 7,962 fishing boats in Hainan Province will also go out to sea one after another, which means that the fishing season in the South China Sea is over.

　△ Aerial photo of fishing boat going out to sea

　 　 　 　　Focus on Rio Olympic Games

　 　 　 　　On the morning of August 6th, Beijing time, the Rio Olympic Games in Brazil will start, and the China Olympic delegation is arriving in Rio one after another. On July 31st, the China Swimming Team arrived in Rio de Janeiro and went to the Olympic Aquatics Gymnasium for the first adaptive training. Ning Zetao introduced that in order to adapt to the competition time, the training time will be adjusted to the evening.

　 　 　 　　China diving team, judo team and tennis team arrived in Rio early yesterday morning local time. Wu Minxia, a diver, said that he didn’t want to pay too much attention to the results, but to do the process well, and many things were unpredictable.

△ Wu Minxia followed the China diving team to Rio.

　 　 　 　　China Olympic weightlifting team changed players at the last minute. Due to injury, Hou Zhihui, a 48kg female weightlifter, was replaced, and Meng Suping, who was over 75kg, played.

△ data map: Hou Zhihui

　 　 　 　　It is reported in Reuters that Russian delegations have arrived in Rio one after another, but the final decision of which Russian athletes can compete in the Olympic Games still needs to be made by the jury, and the verdict may be released today. At present, the total number of Russian delegations banned has exceeded 100.

　 　 　 　　international

　 　 　 　　The Russian Defense Ministry confirmed yesterday that an Russian Mi -8 transport helicopter was shot down in Syria, and the lives of three crew members and two Russian coordinators in Syria are unknown.

　 　 　 　　A few days ago, tens of thousands of Brazilians took to the streets of Rio de Janeiro and S? o Paulo to protest and demand that the suspended President Rousseff step down. The final impeachment vote for Rousseff will begin on August 29th after the Olympic Games and end on September 2nd.

　△ Many people took part in the demonstration, demanding the expulsion of suspended President dilma rousseff.

　 　 　 　　Official website, USA (ACT) News: In order to improve the answering experience of candidates and strengthen the safety of the exam, a computer-based exam will be implemented in ACT International Examination Center next autumn.

　 　 　 　　Due to the deadlock in labor negotiations, Air France started a new round of strike a few days ago, and the company was forced to cancel about 20% of its flights. According to the statistics of Air France on July 31st, there were 150,000 passengers who could not travel as planned due to strikes in the past five days.

　△ data map

　 　 　 　　society

　 　 　 　　Yesterday, the Ministry of Civil Affairs publicly solicited opinions on the registration management of social organizations,The names of local social organizations shall not be prefixed with the words "China", "National", "China", "International" and "World".

　 　 　 　　The National Tourism Administration plans to stipulate that travel agencies and their branches and service outlets will be fined up to 300,000 yuan if they attract, organize and receive tourists at a lower cost than reception and service without reasonable reasons.

　△ data map

　 　 　 　　Feng Zhiming, head of the "Huge Case" task force, was tried yesterday.The indictment alleges that Feng Zhiming, the defendant, served as the director of the Saihan District Public Security Bureau of Hohhot Public Security Bureau, member of the Party Committee and deputy director of Hohhot Public Security Bureau, helped other units and individuals in real estate, catering and entertainment operations, and received more than 4.5 million yuan in property; Embezzlement of public funds and property; Illegal possession of 4 guns and 549 bullets; The source of property worth more than 34 million yuan cannot be explained.

△ Data Map: Feng Zhiming

　 　 　 　　Affected by heavy rain, at about 19: 00 on August 1, a landslide occurred near the east of the intersection of Zhongyuan Road and Wenhua Palace Road in Zhengzhou, Henan Province. According to Henan Business Daily, three electric cars, including three adults and one child, fell into the pit. So far, one man and one woman have been rescued, and one adult and one child have not been found.

　 　 　 　　The police in Jingmen, Hubei recently detected a case of infringing citizens’ personal information, and intercepted about 100G of personal information data of various citizens, nearly 100 million pieces. The gang sold more than 1.92 million pieces of information, illegally profited more than 40,000 yuan, and four suspects have been detained.

　 　 　 　　The local police station responded to the online exposure that "a car owner in Weihai, Shandong Province maliciously dragged a puppy to death" and has investigated and handled it.

　 　 　 　　finance and economy

　 　 　 　　Kunming police news: Kunming Pan Asia Nonferrous Metals Exchange Co., Ltd. and its affiliated companies and senior executives are suspected of illegal fund-raising. The actual controller of the company, Shan Jiuliang, and other 20 major suspects have been transferred to the prosecution for review and prosecution.

　△ data map

　 　 　 　　Recently, Shenzhen Stock Exchange stipulated that if it involves the acquisition of the shares of cast members and their affiliated companies, it should disclose the basis for the investment and pricing of cast members and their affiliated companies, and whether there are differences with other investors.

△ data map

　 　 　 　　Regarding the statement that "WeChat shopping is not protected by consumer law", Gansu Provincial Administration for Industry and Commerce responded that this statement is incomplete and imprecise, and enterprises or individual industrial and commercial households with legal procedures such as business licenses carry out sales activities through WeChat, which belongs to the scope of consumer law adjustment.

　 　 　 　　Today’s tip

　 　 　 　　● Summer train travel guide

　 　 　 　　Every summer vacation is the peak of train passenger transport, and some friends go home or travel by train. But what should I do if I lose my ID card or ticket? Where can I charge my mobile phone if it is dead? What should I do if the high-speed rail stops supplying 15 yuan box lunch?

　 　 　 　　What should I do if I lose my ID card?

　 　 　 　　You can apply for temporary identification from the police station of the railway station.

　 　 　 　　What should I do if I lose my train ticket?

　 　 　 　　You can report the loss at the ticket window of the station no later than 20 minutes before the ticket stop time at the ticket issuing station, and you must provide the original valid ID card, the date of the original ticket and the name of the station where the ticket is purchased.

　 　 　 　　(3) high-speed rail 15 yuan lunch supply? You can call 12306 to complain.

　 　 　 　　15 yuan box lunch and 2 yuan mineral water must be provided on any train. If passengers make a purchase but the train cannot provide it, they can call 12306 to complain.

　 　 　 　　④ The mobile phone is dead, where can I charge it?

　 　 　 　　At present, except for a few green leather cars, all air-conditioned car sockets are powered. Generally, the socket of high-speed rail car is under the seat; There is a socket in each compartment of the soft sleeper of the ordinary train, two in the corridor and one in the bathroom; There are three hard sleeper corridors and one in the flight attendant room; There’s one in the hard-seat cabin.

　 　 　 　　That year today

　 　 　 　　She is a hero who has been amazed by fake newspapers for days — — Zhao Yiman

　

　 　 　 　　1936-At the age of 31, Zhao Yiman was killed by the Japanese army. Previously, she endured the inhuman torture of the Japanese army for nine months and was brave and unyielding. Before she died, she wrote to her young son: "When you grow up, I hope you don’t forget that your mother died for her country." This will was not discovered until 1957.

　 　 　 　　Today’s topic

　 　 　 　　Halfway through the summer vacation this year, many primary and middle school students started the "white plus black" homework mode. Some parents went into battle to help, and some even paid someone to write their homework. Some people think that summer homework is heavy and repetitive, which is easy to make children feel tired and limit their development. It is really helpless to find "ghostwriting"; Others believe that this is the evolution of a series of bad habits such as plagiarism and cheating, which should be strictly prohibited. What do you think of this? Did you need to do your summer homework by ghostwriting?

　 　 　 　　Leave a message to share your opinion ~

Communication： Mid-Autumn Festival on the Construction Site —— A Record of Chinese Builders on the Construction Site of Sri Lankan National kidney disease hospital Project

　　Xinhua News Agency, Colombo, October 3rd (Reporter Tang Lu) October 1st this year is not only the Mid-Autumn Festival and National Day in China, but also the full moon festival in Sri Lanka. In order to enable all employees to work more energetically, the China-aided Sri Lankan National kidney disease hospital Project in Polonnaruwo, central Sri Lanka, announced that the whole camp would have a day off.

　　"You’re not here, it’s not convenient for me to visit relatives alone. You pay attention to your health outside … … Don’t worry, I’m physically weak. The Mid-Autumn Festival company gave out moon cakes and fruit benefits. You can also feel the taste of home here … …” Yin Shaoxi, a bricklayer who has been away from home for more than two years, confided his affection with his wife in his hometown in Hubei on the Mid-Autumn Festival.

　　Vipur, a local driver in the kidney disease hospital project, said that the Mid-Autumn Festival in China, like the full moon festival in Sri Lanka, is a family reunion festival. "China friends came to my hometown to build a hospital away from their families. We are very grateful. There are many patients with kidney disease around, and my family knows that I am working in kidney disease hospital. Everyone is looking forward to the hospital being built soon. "

　　Naruwo, Bronn is the highest incidence area of chronic kidney disease in Sri Lanka. A few years ago, the Chinese and Sri Lankan governments agreed to build a national nephrology hospital here as an aid project in China. According to the plan, the building area of the hospital is 25,917 square meters, which will include 200 general inpatient beds and 100 hemodialysis beds.

　　After two years of fighting, this hospital with red theme, located in a green field, has gradually taken shape. Sri Lankan leaders have said on more than one occasion that the National kidney disease hospital has brought hope to local patients with chronic kidney disease, and the hospital will become the largest specialized nephrology hospital in South Asia after its completion, and they are very much looking forward to the day when it is officially put into use.

　　It is also the hope of Chinese builders to build hospitals as soon as possible. During the interview, many employees from China who participated in the construction of kidney disease hospital said that the kidney disease hospital project has a short construction period and heavy tasks, and they are very proud to work here on behalf of China. They will do their best to build the hospital as soon as possible so that the hospital can serve local patients as soon as possible.

　　Zhou Guohua, who came to Sri Lanka in September 2018 to participate in the construction of kidney disease hospital, has spent the Mid-Autumn Festival here for the third time. His main responsibility is engineering quality inspection. "We must have high quality and strict requirements and hand over a quality project to the Sri Lankan government and people. What impressed me most after coming to kidney disease hospital was working overtime for a long time. There are basically no holidays here. It is a luxury to have a Mid-Autumn Festival holiday. I only took a half-day holiday last month. " Zhou Guohua said.

　　Zhou Guohua told reporters that before the epidemic, some local villagers and patients often came to visit the hospital. Whenever he saw the local people’s expectant eyes on the hospital, he would think of his wife. "Seven years ago, my wife died of kidney disease. I know the pain of patients with kidney disease." For Zhou Guohua, besides shouldering the heavy responsibility of the country like other Chinese builders, there is also a deep feeling: building a hospital for patients with kidney disease to comfort his wife.

　　Because of this, Zhou Guohua has been devoted to the construction site. He said: "After every working procedure of the workers, I must complete the quality inspection in the shortest time. Only in this way can the whole construction process not be delayed."

　　According to Zhi Li, the project manager of Huashan International Engineering Company, who is responsible for the construction of the hospital, at present, more than 80% of the project construction in kidney disease hospital has been completed, and the interior decoration and equipment debugging have also started. The project was originally planned to be completed by the end of July this year, but due to uncertain factors such as the epidemic situation, some work was forced to be postponed. "At present, it is the most critical moment of construction. In order to complete it as soon as possible, during the Mid-Autumn Festival, ‘ Main melody melody ’ Still can only catch up with the construction period. "

　　Zhi Li said that the reason why the project department decided to take a day off was to let everyone relax after a long-term fatigue, to make full use of the Mid-Autumn Festival to express their thoughts to their families, to redouble their efforts to pay tribute to the motherland, to contribute to the Sri Lankan people and to contribute to the friendly cooperation between China and Sri Lanka.

China Banking and Insurance Regulatory Commission issued the Regulations on the Administration of Insurance Asset Management Companies.

CCTV News:According to the website of China Banking and Insurance Regulatory Commission on the 5th, in order to further deepen the structural reform of the financial supply side, strengthen the supervision of insurance asset management companies, and promote the high-quality development of the insurance asset management industry, China Banking and Insurance Regulatory Commission revised the Interim Provisions on the Management of Insurance Asset Management Companies (Order No.2 [2004] of the China Insurance Regulatory Commission) and solicited opinions and suggestions from relevant parties and the public, thus forming the Regulations on the Management of Insurance Asset Management Companies (hereinafter referred to as the Regulations), which is now officially released.

There are 7 chapters and 85 articles in the Regulations, the main contents of which are as follows: First, a special chapter on corporate governance is added. Combined with the supervision practice in recent years, the requirements are clarified from the aspects of overall requirements, shareholders’ obligations, incentive and restraint mechanism, the operation of shareholders’ meeting and board of directors and supervisors, the establishment of professional committees, the system of independent directors, the chief risk management executive and the part-time job of senior management, etc., so as to enhance the independence of insurance asset management companies and comprehensively strengthen the institutional constraints of corporate governance supervision. Second, take risk management as a special chapter, and comprehensively supplement it from the aspects of risk management system, risk management requirements, internal control audit, subsidiary risk management, related party transaction management, employee management, risk reserve, emergency management, etc., and strive to enhance the risk management ability of insurance asset management companies and effectively safeguard the safety of long-term funds such as insurance funds. The third is to optimize the design of equity structure. Implement the decision-making and deployment of the State Council Financial Committee to expand opening to the outside world, treat the shareholders of insurance asset management companies at home and abroad equally, and cancel the upper limit of foreign shareholding ratio. In addition, the conditions for all types of shareholders are clearly defined and set, and the management of shareholders of non-financial enterprises is strict. The fourth is to optimize the operating principles and related requirements. Refine the business scope of insurance asset management companies, increase the basic principles of entrusted management of various funds, clearly require the establishment of custody mechanism, improve asset independence and prohibit debt offset, prohibit channel business, and make provisions on sales management and prudent operation. The fifth is to supplement regulatory means and violations. Added the contents of hierarchical supervision, information disclosure, major event report, etc.It has enriched the methods and measures of supervision and inspection, and increased the contents of illegal file records, professional institutions’ illegal responsibilities, financial status monitoring and self-discipline management.

The Regulation is an important measure to implement the spirit of the CPC Central Committee the State Council on deepening the structural reform of the financial supply side and expanding the decision-making arrangements for opening to the outside world. It has comprehensively considered the existing problems in the current development of insurance asset management companies and the development direction in the future, formed a relatively complete institutional supervision system framework with more distinctive features, and provided space for the market-oriented operation and differentiated development of insurance asset management companies. It is conducive to guiding and promoting the standardized operation and high-quality development of insurance asset management companies, better meeting the needs of maintaining and increasing the value of long-term funds such as insurance funds, and cultivating more stable institutional investors for the stable and healthy operation of the capital market and the high-quality development of the real economy.

Attachment: Provisions on the Administration of Insurance Asset Management Companies