During the 11th collective study in the Political Bureau of the Central Committee, General Secretary of the Supreme Leader emphasized that "scientific and technological innovation can give birth to new industries, new models and new kinetic energy, which is the core element of developing new quality productive forces" and "it is necessary to apply scientific and technological innovation achievements to specific industries and industrial chains in time, transform and upgrade traditional industries, cultivate and expand emerging industries, lay out and build future industries, and improve the modern industrial system"; During the deliberation of the Jiangsu delegation at the Second Session of the 14th National People’s Congress, it was emphasized that "the deep integration of scientific and technological innovation and industrial innovation should be strengthened". These important expositions clarify the internal development logic of scientific and technological innovation and industrial innovation, and point out the important significance and practical path of deep integration of scientific and technological innovation and industrial innovation. Strengthening the deep integration of scientific and technological innovation and industrial innovation is an inevitable choice for the transition of productive forces, which is related to the efficiency, kinetic energy and advantages of China’s high-quality development.

Strengthening the deep integration of scientific and technological innovation and industrial innovation is the essential requirement for developing new quality productivity.

Scientific and technological innovation is the endogenous power of industrial innovation. Industrial innovation is usually based on a key technological innovation to revolutionize the industry or form a new industry. In this process, scientific and technological innovation is the source of living water. As the primary productive force, scientific and technological innovation, on the one hand, crosses the technical threshold of key fields from the beginning of scientific research chain through basic research innovation, generally improves the basic technical level that affects economic and social development, and lays a solid foundation for industrial innovation; On the other hand, through applied research and innovation, the specific scientific and technological innovation achievements are connected with the core technological breakthroughs of specific industries, which directly promotes industrial upgrading and even transformation, and transforms scientific and technological strength into industrial competitive advantage. Historically, scientific and technological innovation and industrial transformation have always complemented each other. Facing the new situation of global industrial chain reconstruction, we must strengthen the leading role of scientific and technological innovation in industrial innovation and promote China’s industry to move towards the middle and high end of the global value chain.

Industrial innovation is the fundamental way to realize the value of scientific and technological innovation. Only when the achievements of scientific and technological innovation are transformed into real productive forces and the industrial system is optimized and upgraded can they reflect their value and have sustainable capabilities. Playing the leading role of scientific and technological innovation in traditional industries will promote the deep integration of digital intelligence technology and traditional industries, improve production efficiency and product quality, promote the intelligent, high-end and green transformation of traditional industries, and consolidate the "basic disk" status of traditional industries; Giving play to the leading role of scientific and technological innovation in emerging industries will promote the leap-forward development of important scientific and technological fields, accelerate the deep integration of innovation chain’s industrial chain capital chain talent chain, realize the independent control of key core technologies, further enhance the original innovation capability, create more new breakthroughs from 0 to 1, and strengthen the new kinetic energy of emerging industries; Giving play to the leading role of scientific and technological innovation in the future industry will accelerate the original and subversive technological innovation, lead the future industry development with cutting-edge technological breakthroughs, create an important source of the world’s future industry, and cultivate new competitive advantages in the future industry.

The deep integration of scientific and technological innovation and industrial innovation can promote the development of new quality productivity. Scientific and technological innovation is the core element of developing new quality productivity, and industry is the main carrier of developing new quality productivity. The deep integration of scientific and technological innovation and industrial innovation will improve the innovation ability of enterprises, improve the innovation system, stimulate innovation vitality, and strengthen the division of labor and cooperation of various enterprises in the fields of industrial chain innovation chain integration, scientific research and transformation of scientific and technological achievements; It will help the research and development of original and subversive technologies, speed up the solution of the "stuck neck" problem, achieve industrial leap-forward development with breakthroughs in important areas and key links, and enhance the resilience of the industrial chain and supply chain; We will improve the matching efficiency between the supply of science and technology resources and market demand, break through the "blocking point" between scientific research achievements and industrialization with the scene application of new technologies, improve the reform of the incentive mechanism for the transformation of scientific and technological achievements, optimize the allocation of scientific and technological resources, enhance the efficiency of scientific and technological investment, realize the deep integration of the capital chain and talent chain of innovation chain industrial chain, and accelerate the transformation of scientific and technological innovation achievements into new quality productivity.

China has achieved remarkable results in promoting the deep integration of scientific and technological innovation and industrial innovation.

The deep integration of scientific and technological innovation and industrial innovation helps transform and upgrade traditional industries. Traditional industry is the base of modern industrial system, and its transformation and upgrading are related to the overall situation of modern industrial system construction. Scientific and technological innovation is conducive to promoting the process reengineering of traditional industries, accelerating equipment renewal, process upgrading and management innovation, and improving the high-end, intelligent and green level of traditional industries. With the continuous increase of investment in technological transformation, advanced technologies in steel, petrochemical, cement, electrolytic aluminum and other industries are gradually popularized, which promotes the high-end development of traditional industries. In 2023, the investment in technological transformation of China’s manufacturing industry increased by 3.8%, and the added value of industrial enterprises above designated size increased by 4.6% over the previous year. The proportion of equipment manufacturing and high-tech manufacturing in the added value of industrial enterprises above designated size has further increased, reaching 33.6% and 15.7% respectively. The R&D and industrialization of key technologies such as 5G, edge computing, industrial Internet and general artificial intelligence are accelerating, which promotes the digital transformation and intelligent transformation of traditional industries. In 2023, nearly 8,000 digital workshops and smart factories have been built nationwide, and the scale of the core industry of industrial Internet has exceeded 1.2 trillion yuan, the product development cycle has been significantly shortened, and the production efficiency has been significantly improved. Green development is implanted into the "gene" of industrial development to promote the green transformation of traditional industries. In 2023, the green investment of industrial enterprises in China increased rapidly, and the purchase of environmental protection management services increased by 17.7% year-on-year; Compared with 2022, the sales revenue of high energy-consuming manufacturing industry accounted for 1.5 percentage points lower.

The deep integration of scientific and technological innovation and industrial innovation focuses on cultivating and expanding emerging industries. Strategic emerging industries are one of the main positions to develop new quality productivity. In recent years, the investment in strategic emerging industries in China has been increasing, and breakthroughs have been made in invention patents in key areas. In 2023, the investment in high-tech industries, mainly strategic emerging industries such as new generation communication technology, biotechnology, new energy and new materials, increased by 10.3% year-on-year, 7.3 percentage points faster than the total investment. The effective invention patents in the fields of information technology management methods, computer technology and basic communication programs grew rapidly, with year-on-year growth of 59.4%, 39.3% and 30.8% respectively, far higher than the domestic average growth level. Scientific and technological innovation has also pushed strategic emerging industries to expand scale, optimize layout and improve quality, and new growth poles have emerged constantly. From the perspective of key industries, in 2023, the output of new energy vehicles in China increased by 30.3%, solar cells increased by 54.0%, service robots increased by 23.3%, and 3D printing equipment increased by 36.2%. At the same time, the operating income of strategic emerging service enterprises increased by 7.7% over the previous year, and the added value of information transmission, software and information technology services increased by 11.9%.

Deep integration of scientific and technological innovation and industrial innovation, making efforts to lay out and build future industries. The future industry represents the future development direction of science and technology and industry, is the strategic focus of competition among big countries, and is also the key force to reshape the world pattern. China’s investment scale in future industries continues to expand, and breakthroughs have been made in some future industrial segments. The development of the future industry is inseparable from the solid promotion of basic scientific research. The updating iteration of general basic technology will empower the whole industrial chain and provide technical support for seizing the commanding heights of future industrial development. With the scientific and technological innovation and research and development of frontier industries such as quantum information, deep-sea aerospace development, life science, metauniverse and humanoid robot, it will vigorously promote new industrialization and form new advantages.

Strengthen the deep integration of scientific and technological innovation and industrial innovation, and build new advantages for high-quality development.

Promote the synergy and mutual promotion of basic research and applied research, and lay a solid foundation for the deep integration of scientific and technological innovation and industrial innovation. The study of basic theories and principles can solve key technologies from the source and the bottom, and is the cornerstone to achieve breakthrough technological innovation. Carry out basic research in key technical fields, from applied research to basic research, systematically promote the focus on key scientific issues, and carry out frontier-oriented exploration research and market-oriented applied basic research. Strengthen the integration of basic research and applied research, constantly optimize the layout of basic and applied disciplines, deepen the reform of institutional mechanisms and incentive policies, and enhance China’s original innovation ability. In view of the key technologies of industrial transformation and upgrading, we will accelerate the implementation of industrial base reconstruction projects, strengthen the synergy between basic technologies and common technologies, major key technologies and future frontier technologies, lay a solid battle for key core technologies, and cultivate new kinetic energy for developing new quality productivity.

Promote the interaction between scientific and technological innovation and market application, and set up a stage for the deep integration of scientific and technological innovation and industrial innovation. Grasp the global scientific and technological innovation trends, accurately identify the frontier trends of technology, build a future industrial observatory, predict and evaluate the breakthrough points and opportunities of scientific and technological development in key areas, and match, analyze and screen the points where science and technology meet the market demand with the help of artificial intelligence and big data mining, so as to provide scientific guidance for the rational transformation of technology. Publish the promotion catalogue of cutting-edge technology applications, build an "online publishing hall" for future industrial achievements, expand the promotion and application of innovative products, and promote the demonstration and application of the first set, the first batch and the first edition. Create a deep docking platform for technical requirements and application scenarios, and accelerate the landing and iterative application of major technological achievements. Give full play to China’s super-large-scale market advantages, expand domestic and foreign markets, and create market space for new technologies and new products.

Promote the exchange of scientific and technological talents and industrial talents, and build a solid foundation for the deep integration of scientific and technological innovation and industrial innovation. Adhere to the "four orientations", vigorously cultivate leading entrepreneurs and scientists, train and use strategic scientists, and build a large number of scientific and technological innovation teams and outstanding engineers. We will improve the development channels for the exchange and interaction between scientific and technological talents and industrial talents, highlight the innovation-oriented scientific and technological evaluation system and incentive mechanism, and further stimulate the innovation vitality and potential of talents. Break down the barriers of disciplines and specialties in colleges and universities, set up a training system for compound talents in science and technology industry, reform the training mode for compound talents, establish a guiding mechanism for interdisciplinary development, and train high-level and multi-level compound talents. We will implement a more active and effective policy of introducing compound talents in science and technology industry to attract high-level compound leading talents in science and technology industry around the world.

Promote the coordination and complementarity between science and technology policies and industrial policies, and strengthen the guarantee of deep integration of science and technology innovation and industrial innovation. Strengthen the construction of science and technology extension service system, build a number of pilot platforms and concept verification centers, and successfully build a bridge from "experimental line" to "production line" for product innovation. Build a number of innovative enterprise incubation bases, support the rapid development of new R&D institutions, and improve the transformation efficiency of scientific and technological achievements. Guide enterprises to integrate independent intellectual property rights with technical standards and strengthen the construction of independent intellectual property rights system in key areas. Improve the investment and financing mechanism of scientific and technological innovation, and take effective measures to guide financial institutions to help transform and apply scientific and technological innovation achievements. Optimize the ecology of innovation and development, implement inclusive and prudent supervision of emerging fields, and promote the rational and effective allocation of scientific and technological innovation resources and industrial factor resources. Through the mutual promotion and support of science and technology innovation policy and industrial innovation policy, the sustainable emergence and rapid development of new quality productivity can be empowered.

[Editor: Yu Qian]

On August 11th, the State Administration of Market Supervision issued a batch of recall notices, involving Ford, Porsche, BMW and other brands.

Ford Motor (China) Co., Ltd. recalled some Lincoln Continental, Lincoln Navigator and Lincoln MKC cars.

Recently, Ford Motor (China) Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Implementation Measures of the Regulations on the Management of Defective Automobile Product Recall, and decided to recall the following vehicles.

1. From August 11, 2023, some Lincoln Continental cars produced from June 24, 2016 to December 5, 2019 were recalled, totaling 11,480 vehicles.

Due to the structure of parts, there is a sharp contact surface between the lens and the washer in the rear view camera, which causes the anti-reflection coating on the lens to be damaged, affects the image quality of the camera, interferes with the driver’s observation of the rear of the vehicle, and has potential safety hazards.

Ford Motor (China) Co., Ltd. will entrust an authorized dealer of Lincoln brand to replace rearview cameras for vehicles within the recalled scope free of charge to eliminate potential safety hazards.

2. Since August 11th, 2023, some Lincoln Navigator cars produced from December 4th, 2014 to June 25th, 2017 have been recalled, totaling 2,556 vehicles.

Due to the improper positioning of the brush holder spring of the air conditioner blower motor, the brush spring or brush holder may be short-circuited and overheat locally, which may cause a fire in the passenger compartment of the vehicle in extreme cases, posing a safety hazard.

Ford Motor (China) Co., Ltd. will entrust an authorized dealer of Lincoln brand to replace the improved air conditioner blower motor for the vehicles within the recalled scope free of charge, so as to eliminate potential safety hazards.

3. From August 18, 2023, some Lincoln MKC vehicles produced between June 5, 2014 and June 4, 2019 were recalled, totaling 69,045 vehicles.

Due to the design reasons of some vehicles within the scope of this recall, the printed circuit board of the battery monitoring sensor may be short-circuited due to improper operation during after-sales maintenance, resulting in overheating of surrounding materials, and in extreme cases, the engine compartment will catch fire, which poses a safety hazard.

Ford Motor (China) Co., Ltd. will entrust an authorized dealer of Lincoln brand to install the battery monitoring sensor circuit overload protection fuse for the vehicles within the recalled scope free of charge, so as to eliminate potential safety hazards.

Ford Motor (China) Co., Ltd. will notify the relevant owners of the recall by registered mail or SMS.

Dongfeng Commercial Vehicle Co., Ltd. recalled some Dongfeng brand D560 series trucks.

Recently, Dongfeng Commercial Vehicle Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Implementation Methods of the Regulations on the Management of Defective Automobile Product Recall. From now on, the following vehicles will be recalled.

1. A total of 102 Dongfeng D560 series trucks produced from February 6, 2021 to May 11, 2021 were recalled.

Within the scope of this recall, the lower edge of the rear protection of the vehicle is too high from the ground. When it is rear-ended by a rear vehicle, it cannot effectively prevent the rear vehicle from drilling into the bottom of the vehicle, which poses a safety hazard.

This recall was carried out under the condition that the State Administration of Market Supervision initiated a defect investigation. Affected by the investigation, Dongfeng Commercial Vehicle Co., Ltd. decided to replace the rear protection assembly for the vehicle free of charge to eliminate potential safety hazards.

Two, from April 6, 2021 to April 30, 2021, some Dongfeng brand D560 series trucks were produced, totaling 37 vehicles.

Within the scope of this recall, the distance between the roof poles of vehicles is too large, and in extreme cases, there are security risks.

This recall was carried out under the condition that the State Administration of Market Supervision initiated a defect investigation. Affected by the investigation, Dongfeng Commercial Vehicle Co., Ltd. decided to install roof poles for vehicles and weld them to eliminate potential safety hazards.

Dongfeng Commercial Vehicle Co., Ltd. will notify the relevant owners by registered mail, telephone, SMS, etc., and arrange for free recall and maintenance.

Chengdu Universiade Automobile Group Co., Ltd. recalled some 4×2 pure electric van transport vehicles.

A few days ago, Chengdu Universiade Automobile Group Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Measures for the Implementation of the Regulations on the Management of Defective Automobile Product Recall. From now on, some 4×2 pure electric van transport vehicles produced from September 4, 2017 to December 19, 2018 will be recalled, totaling 71 vehicles.

The electric vacuum pump carried by the vehicles within the scope of this recall may be rusted due to bumping during the assembly process, and the vacuum degree may be reduced, and the power-assisted function may be attenuated, which affects the braking performance and has potential safety hazards.

This recall was carried out under the condition that the State Administration of Market Supervision initiated a defect investigation. Affected by the investigation, Chengdu Universiade Automobile Group Co., Ltd. will carry out free inspection for the vehicles within the recall range. If the appearance bumps and affects the working performance, it will replace it with a new electric vacuum pump to eliminate potential safety hazards.

Emergency measures: At the initial stage of the problem of the electric vacuum pump, it usually presents occasional abnormal function, which is characterized by heavy pedal and strenuous pedaling. Before the recall for maintenance, users are advised to drive as slowly as possible, and check the automatic start and stop of the electric vacuum pump before each departure, and enter the store for maintenance in time after the recall begins. During driving, when the driver notices that the brake pedal is getting heavier, he must step on the brake pedal harder, and pull over in time for investigation. Under the condition of ensuring safety, he should go to the nearest service station for maintenance and replacement of the electric vacuum pump, or call for rescue, and consign the car to the service station for maintenance, and then he can continue to put it into use after troubleshooting.

Chengdu Universiade Automobile Group Co., Ltd. will notify relevant users by telephone, e-mail and registered letter.

Porsche (China) Automobile Sales Co., Ltd. recalled some imported Macan and Panamera series cars.

A few days ago, Porsche (China) Automobile Sales Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Measures for the Implementation of the Regulations on the Management of Defective Automobile Product Recall. From August 14th, 2023, 51 vehicles of Macan and Panamera series with production dates from April 29th, 2014 to September 12th, 2022 were recalled.

The vehicles within the scope of this recall were not tightened according to the regulations because the fastening screws of the seat belt fixing supports on the left and right sides of the rear row were not tightened. In the event of an accident, the support may be loose, which will affect the restraint effect of the seat belt, resulting in an increase in the risk of passenger injury and potential safety hazards.

Porsche (China) Automobile Sales Co., Ltd. will, through authorized dealers, replace the fastening screws of the seat belt fixing supports at the left and right sides of the rear row free of charge for vehicles within the scope of recall, and tighten them according to the specified torque to eliminate potential safety hazards.

Porsche (China) Automobile Sales Co., Ltd. will notify the relevant owners by registered mail.

BMW Brilliance Automobile Co., Ltd. and BMW (China) Automobile Trading Co., Ltd. recalled some domestic and imported BMW cars.

Recently, BMW Brilliance Automobile Co., Ltd. and BMW (China) Automobile Trading Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Implementation Measures for the Regulations on the Management of Defective Automobile Product Recall, and recalled the following vehicles from now on.

I BMW Brilliance Automobile Co., Ltd.

A total of 7 domestic iX3 electric vehicles with production dates from August 29, 2022 to November 23, 2022 were recalled.

Second, BMW (China) Automobile Trading Co., Ltd.

A total of 13 imported i4 electric vehicles with production dates from June 21, 2022 to August 1, 2022 were recalled; A total of 8 iX electric vehicles were imported from June 28th, 2022 to September 1st, 2022. Recall an imported i7 electric vehicle with a production date of September 1, 2022.

Due to the supplier’s production process error, the combined charging unit of the vehicles within the scope of this recall is damaged and abnormal, which may cause charging interruption, resulting in the failure to start the vehicle or the shutdown of the high-voltage system during driving, which has potential safety hazards.

BMW Brilliance Automobile Co., Ltd. and BMW (China) Automobile Trading Co., Ltd. will replace the combined charging units for vehicles within the scope of recall free of charge to eliminate potential safety hazards.

BMW Brilliance Automobile Co., Ltd. and BMW (China) Automobile Trading Co., Ltd. will notify relevant users by registered mail, interconnected driving messages and other forms.

Original title: "Vehicle Emergency Recall! Involving these brands "

Read the original text

　　When it comes to SAIC Audi, people often think of luxury and high-end. Because of this, Audi cars have become the dream car in the hearts of countless car fans. With its consistent adherence to quality, SAIC Audi has firmly sat on the high-end market throne. Recently, SAIC Audi once again lived up to expectations and launched a new generation of C +-class performance luxury flagship – the new SAIC Audi A7L, with dynamic exterior design, technological interior, and surging power, to meet users’ needs for luxury cars and start a new journey.

　　Renewal of two appearance sets, high recognition

　　In terms of appearance, the new SAIC Audi A7L adopts two different styles of appearance design: dynamic suit and trendy suit. In the front face part, the new car uses the iconic hexagonal air intake grille design. In addition, the dynamic suit has newly upgraded the design of the middle grid, side air intake and rear diffuser, combined with the four prisms on the engine cover for great visual impact. LED headlights on both sides of the front use a matrix design, which is highly recognizable when lit.

　　The side lines of the new car are loose and powerful, and the slender body shape is quite dynamic. In addition, the wheel hub shape adds 21-inch double V-shaped 5-spoke aluminum alloy wheels and red calipers. In the rear part of the car, the lighting effect of the through-type LED taillight group is very technological, and the duck-tail shape spoiler above the trunk is full of movement with the bottom blackened rear surrounding components.

　　The interior is sporty and full of technology

　　The overall design of the interior of the new car is sporty. The through-air conditioner is trended with chrome-plated trim, which is more delicate. The car adopts a three-screen design, including a multimedia entertainment display screen, an air-conditioning control panel and a full LCD meter. The overall sense of technology is full. At the same time, the Dream Youth Edition model is also equipped with a comfort key and a mobile phone battery life set, and the Dream Future Edition is equipped with a winter warm set and a keyless entry and electric tailgate set.

　　In addition, the new car also adds a new interior color, shadow gray, which is also exclusive to the RS kit racing version. The super sports seat in the car is equipped with Wagner leather seat fabric with diamond rhombus pattern contrasting stitches, engraved with RS Logo, forming a layered overall color match.

　　A variety of power configurations are available, surging and abundant

　　In terms of power, the new car offers two options: 2.0T engine and 3.0T V6 + 48V light hybrid system. Among them, the 3.0T V6 + 48V light hybrid power system has a maximum power of 250 kW, a peak torque of 500 Nm, and a 0-100km/h acceleration of 5.6 seconds. It matches a 7-speed wet dual-clutch gearbox. The 2.0T engine has a maximum power of 180 kW and a peak torque of 370 Nm. It also matches a 7-speed wet dual-clutch gearbox. The 2.0T model offers two-wheel drive and four-wheel drive for selection, and the 3.0T model comes standard with a four-wheel drive system.

　　It is understood that the new SAIC Audi A7L has launched a total of 7 models this time, including the regular version, the special version Darth Vader version and the RS kit racing version, with a price range of 418,700 – 666,200 yuan. Such a rich product line not only meets the diverse car purchase needs of different consumers, but also shows SAIC Audi’s deep strength in the luxury car market. I believe that with the launch of the new SAIC Audi A7L, it will further promote the development of the domestic luxury car market and bring you a more distinguished driving experience.

disclaimerThis article is submitted by a third party. All the information (including but not limited to text, video, audio, data and charts) published by the contributor on Jintou.com only represents his personal views, and does not guarantee the accuracy, authenticity, completeness, effectiveness, timeliness and originality of the information. The copyright belongs to the original author. If there is no intention to infringe on the media or personal intellectual property rights, please call or write to inform him. This website will handle it as soon as possible. The purpose of publishing this article by Jintou.com is to promote information exchange, and there is no profit-making purpose. This article has nothing to do with the position of this website and does not assume any responsibility. Unconfirmed information is for reference only, and does not provide any basis for investment and trading. Therefore, the operation risk is at your own risk. Infringement and false information reporting email address: tousu@cngold.org.

China Banking and Insurance Regulatory Commission on printing and distributing financial assets investment companies

Notice of Measures for Capital Management (for Trial Implementation)

Yin Bao Jian Gui [2022] No.12

All banking insurance regulatory bureaus, Industrial and Commercial Bank of China, Agricultural Bank of China, China Bank, China Construction Bank, Bank of Communications, and all financial asset investment companies:

"Measures for Capital Management of Financial Asset Investment Companies (Trial)" has been adopted at the second ministerial meeting in China Banking and Insurance Regulatory Commission in 2022, and is hereby issued to you, please follow it.

China Banking and Insurance Regulatory Commission

June 17, 2022

Measures for capital management of financial asset investment companies (for Trial Implementation)

Chapter I General Principles

the first　In order to strengthen the capital supervision of financial asset investment companies and promote the stable operation of financial asset investment companies, these Measures are formulated in accordance with the Banking Supervision Law of the People’s Republic of China, the Administrative Measures for Financial Asset Investment Companies (Trial) (Order No.4 of the Bank of China Insurance Regulatory Commission in 2018) and other laws and regulations.

the second　These Measures shall apply to groups composed of financial asset investment companies and their subsidiaries.

The term "financial asset investment company" as mentioned in these Measures refers to a non-bank financial institution established within the territory of People’s Republic of China (PRC) with the approval of China Banking and Insurance Regulatory Commission, which is mainly engaged in bank debt-to-equity swap (hereinafter referred to as debt-to-equity swap) and supporting business. The term "affiliated institutions" as mentioned in these Measures refers to institutions that are directly or indirectly held by financial asset investment companies and should be included in the scope of consolidated capital supervision in accordance with the provisions of Section V of Chapter II of these Measures.

Article　A financial asset investment company shall ensure that the capital it holds can withstand the risks it faces, including group risks, individual risks and systemic risks.

Article 4　A financial asset investment company shall continuously meet the regulatory requirements and indicators of capital adequacy as stipulated in these Measures.

Article 5　The term "capital adequacy ratio" as mentioned in these Measures refers to the ratio between capital and risk-weighted assets held by financial asset investment companies that meet the requirements of these Measures.

Tier 1 capital adequacy ratio refers to the ratio between tier 1 capital and risk-weighted assets held by financial asset investment companies that meet the requirements of these Measures.

Core Tier 1 capital adequacy ratio refers to the ratio between core Tier 1 capital and risk-weighted assets held by financial asset investment companies that meet the requirements of these Measures.

Article 6　A financial asset investment company shall calculate the consolidated and non-consolidated capital adequacy ratio in accordance with the provisions of these Measures.

Article 7　The term "net capital" as mentioned in these Measures refers to the capital balance after deduction from all levels of capital held by financial asset investment companies and affiliated institutions that meet the provisions of these Measures.

Article 8　In addition to the above regulatory requirements for capital adequacy ratio, financial asset investment companies should also meet the regulatory requirements for leverage ratio.

The term "leverage ratio" as mentioned in these Measures refers to the ratio between the net Tier 1 capital held by a financial asset investment company and the adjusted balance of assets on the balance sheet and the balance of off-balance sheet items.

Article 9　A financial asset investment company shall establish a comprehensive risk management framework and internal capital adequacy management and evaluation procedures.

Article 10　China Banking and Insurance Regulatory Commission and its dispatched offices shall, in accordance with these Measures, conduct daily supervision and on-site inspection on the capital adequacy and capital management of financial asset investment companies, and may take corresponding supervision measures as appropriate.

Chapter II Capital Supervision Requirements

Section 1 Calculation of Capital Adequacy Ratio and Regulatory Requirements

Article 11　The formula for calculating the capital adequacy ratio of a financial asset investment company is:

Article 12　The total capital of a financial asset investment company includes core tier 1 capital, other tier 1 capital and tier 2 capital. A financial asset investment company shall calculate all levels of capital and deductions in accordance with the provisions of Section II of this chapter.

Article 13　The risk-weighted assets of financial asset investment companies include credit risk-weighted assets, market risk-weighted assets, operational risk-weighted assets and asset management business risk-weighted assets. A financial asset investment company shall separately measure credit risk-weighted assets, market risk-weighted assets, operational risk-weighted assets and asset management business risk-weighted assets in accordance with the provisions of Section III of this chapter.

Article 14　The capital adequacy ratio of financial asset investment companies at all levels shall not be lower than the following requirements:

(1) The core tier-one capital adequacy ratio shall not be less than 5%;

(2) The Tier 1 capital adequacy ratio shall not be less than 6%;

(3) The capital adequacy ratio shall not be less than 8%.

Article 15　Under certain circumstances, a financial asset investment company shall accrue countercyclical capital above the minimum capital requirement. The countercyclical capital requirement is 0-2.5% of risk-weighted assets, which is met by core Tier 1 capital. The countercyclical capital requirement is determined by China Banking and Insurance Regulatory Commission according to the actual situation.

Section 2 Definition of Capital

Article 16　Core Tier 1 capital includes:

(1) Paid-in capital or common stock;

(2) Capital reserve;

(3) Surplus reserve;

(4) General risk preparation;

(5) Undistributed profits;

(6) Other parts that can be included.

Article 17　Other Tier 1 capital includes:

(1) Other Tier 1 capital instruments;

(2) Premium of other Tier 1 capital instruments.

Article 18　Tier 2 capital includes:

(1) Tier 2 capital instruments;

(2) Premium of secondary capital instruments;

(3) Reserve for excess losses.

Financial asset investment companies should use the weight method to measure credit risk-weighted assets, and the excess loss reserve can be included in tier 2 capital, but it shall not exceed 1.25% of credit risk-weighted assets.

A financial asset investment company shall carry out impairment accounting treatment on financial instruments that need impairment accounting treatment in strict accordance with the requirements of accounting standards and confirm the loss reserve. The excess loss reserve mentioned in the preceding paragraph refers to the part of the loss reserve actually withdrawn by a financial asset investment company that exceeds the balance of non-performing assets.

Article 19　When calculating the capital adequacy ratio, a financial asset investment company shall fully deduct the following items from the core Tier 1 capital:

(1) Goodwill;

(2) Other intangible assets (except land use rights);

(3) Net deferred income tax assets caused by operating losses;

(4) The gap of loss provision for credit risk assets.

The gap of loss reserve refers to the part where the loss reserve actually accrued by a financial asset investment company is lower than the balance of non-performing assets.

Article 20　Capital instruments at all levels held by financial asset investment companies and other financial institutions through agreements, or capital investments at all levels identified by China Banking and Insurance Regulatory Commission and its dispatched offices as inflated capital, should be deducted from the corresponding regulatory capital.

Financial asset investment companies directly or indirectly hold capital instruments at all levels issued by the company, which should be deducted from the corresponding regulatory capital. Financial asset investment companies should deduct the capital investment in affiliated institutions from the capital at all levels when calculating the capital adequacy ratio without consolidation.

Corresponding deduction refers to a one-time full deduction from the corresponding capital of the financial asset investment company. If the net capital of a financial asset investment company at a certain level is less than the amount to be deducted, the gap shall be deducted from the net capital at a higher level.

Article 21　The small minority capital investment made by a financial asset investment company to financial institutions that are not included in the scope of capital supervision, which exceeds 30% of the company’s core tier-one net capital, shall be deducted from the supervision capital at all levels.

Small minority capital investment refers to the capital investment (including direct and indirect investment) of a financial asset investment company to all levels of financial institutions, which accounts for less than 10% (excluding) of the paid-in capital (common stock plus common stock premium) of the invested financial institution, and can be excluded from the scope of capital supervision according to the provisions of Section 5 of this chapter.

Article 22　Among the large minority capital investments made by financial asset investment companies to financial institutions that are not included in the scope of capital supervision, the part where the total core tier-one capital investment exceeds 30% of the company’s net core tier-one capital shall be deducted from the company’s core tier-one capital; Other tier-1 capital investments and tier-2 capital investments shall be fully deducted from the corresponding level of capital.

Large minority capital investment refers to the capital investment (including direct and indirect investment) made by a financial asset investment company to all levels of financial institutions, which accounts for more than 10% (inclusive) of the paid-in capital (common stock plus common stock premium) of the invested financial institution, and may not be included in the scope of capital supervision according to the provisions of Section 5 of this chapter.

Article 23　Except for the net deferred income tax assets specified in Article 19 of these Measures, other net deferred income tax assets that depend on the company’s future earnings, which exceed 10% of the company’s net core tier 1 capital, shall be deducted from the core tier 1 capital.

Article 24　According to the provisions of Article 22 and Article 23 of these Measures, the total amount of large minority capital investment in financial institutions and the corresponding net deferred income tax assets not deducted from the core tier 1 capital of a financial asset investment company shall not exceed 35% of the company’s net core tier 1 capital.

Section 3 Measurement of Risk-weighted Assets

Article 25　Financial asset investment companies use the weight method to measure credit risk-weighted assets.

Article 26　When measuring the risk-weighted assets of various on-balance-sheet assets, a financial asset investment company should first deduct the corresponding impairment reserve from the book value of the assets, and then multiply it by the risk weight.

A financial asset investment company shall measure the credit risk-weighted assets of various on-balance-sheet assets in accordance with the provisions of Annex 1 to these Measures.

Article 27　When a financial asset investment company uses the weighting method to measure credit risk-weighted assets, it may consider the risk mitigation effect of the risk mitigation clause in accordance with the provisions in Annex 1 of these Measures, and the calculation method is as follows:

Credit risk weighted assets = (book value of assets-impairment reserve-book value of risk mitigation tools) × risk weight of assets+book value of risk mitigation tools× risk weight of risk mitigation tools.

Article 28　Financial asset investment companies should adopt the standard method to measure the market risk capital requirements.

Article 29　A financial asset investment company shall formulate clear criteria for the division of trading books and bank books, specify the positions of financial instruments included in trading books and the conditions for transfer between trading books and bank books, and ensure the consistency of implementation.

Article 30　The market risk-weighted assets of financial asset investment companies are 12.5 times of the market risk capital requirements, that is, market risk-weighted assets = market risk capital requirements ×12.5.

Article 31　A financial asset investment company shall separately measure the capital requirements of various asset market risks in accordance with the provisions of Annex 2 to these Measures.

Article 32　Financial asset investment companies should adopt the basic index method to measure the operational risk capital requirements.

Article 33　The operational risk-weighted assets of financial asset investment companies are 12.5 times of the operational risk capital requirements, that is, operational risk-weighted assets = operational risk capital requirements ×12.5.

Article 34　A financial asset investment company shall measure the operational risk capital requirements based on the average total income in the last three years.

Total income shall be confirmed in accordance with the provisions of Annex 3 of these Measures, including investment income, net fee and commission income, net interest income, net income from disposal of non-performing assets and other income.

Operational risk capital shall be measured according to the following formula:

Among them:

KBIAIt is the operational risk capital requirement measured by the basic index method;

GI is the positive total income in each of the past three years;

N is the number of years with positive total income in the past three years;

α is 15%.

Article 35　Financial asset investment companies should measure the risk capital requirements of asset management business.

Article 36　The risk-weighted assets of the asset management business of a financial asset investment company are 12.5 times the risk capital requirement of the asset management business, that is, the risk-weighted assets of the asset management business = the risk capital requirement of the asset management business ×12.5.

Article 37　A financial asset investment company shall measure the risk capital requirements of asset management business in accordance with the provisions of Annex 4 of these Measures.

Article 38　A financial asset investment company shall carefully judge the risk situation faced by its asset management business and ensure that the capital can cover the risk of asset management business.

Section 4 Calculation of Leverage Ratio and Regulatory Requirements

Article 39　The formula for calculating the leverage ratio of a financial asset investment company is:

Leverage ratio = net Tier 1 capital/(adjusted balance of on-balance-sheet assets+balance of off-balance-sheet items) ×100%

Article 40　The adjusted balance of on-balance-sheet assets is the balance of on-balance-sheet assets after deducting Tier 1 capital deduction from the total assets in the table.

Article 41　Off-balance sheet items do not include asset management business. The balance of off-balance-sheet items is the risk exposure calculated by the off-balance-sheet business of financial asset investment companies according to the corresponding credit conversion coefficient, and the credit conversion coefficient of various off-balance-sheet items shall be implemented in accordance with Annex 5 of these Measures.

Article 42　The leverage ratio of a financial asset investment company shall not be less than 6%.

Section 5 Calculation Scope of Consolidated Capital Supervision Indicators

Article 43　The calculation scope of consolidated capital supervision indicators shall include financial asset investment companies and institutions that directly or indirectly invest in them in accordance with the provisions of these Measures.

Article 44　A financial asset investment company shall follow the principle of "substance is more important than form", take control as the basis, and take into account the risk correlation, and include the invested institutions that meet one of the following conditions into the consolidated calculation scope:

(1) The investee directly owned by the financial asset investment company or its affiliated institutions, or jointly owned by the financial asset investment company and its affiliated institutions with more than 50% of the voting rights.

(2) An investee whose financial asset investment company has less than 50% of the voting rights, but is under any of the following circumstances:

1. Having more than 50% of the voting rights of the institution through agreements with other investors;

2. According to the articles of association or agreement, have the right to decide the financial and operating policies of the institution;

3. Have the right to appoint or remove most members of the board of directors of the institution or similar authority;

4. Have a majority of voting rights in the board of directors of the institution or similar authority.

When determining the voting right of the invested institution, we should consider the potential voting factors such as the current convertible corporate bonds and current executable warrants held by the financial asset investment company. The potential voting rights that can be realized in the current period shall be included in the voting rights of the financial asset investment company to the invested institution.

(3) There is other evidence that the invested institution is actually controlled by the financial asset investment company.

Control means that the investor has the power over the investee, enjoys variable returns by participating in the related activities of the investee, and has the ability to influence the amount of returns by using the power over the investee.

Article 45　A financial asset investment company does not have the majority voting rights or control rights of the invested institution, and it shall be included in the calculation range of consolidated capital supervision indicators under any of the following circumstances:

(1) Although the asset size of a single institution accounts for a small proportion of the overall asset size of a financial asset investment company, according to the risk correlation, the overall risk of such institutions is enough to have a significant impact on the financial position and risk level of a financial asset investment company;

(2) The harm and loss caused by the compliance risk and reputation risk of the invested institution are sufficient to have a significant impact on the financial asset investment company.

Article 46　The following invested institutions may not be included in the calculation scope of consolidated capital supervision indicators:

(a) closed or declared bankrupt institutions;

(2) Institutions that have entered liquidation procedures due to termination;

(3) Invested institutions that have evidence to prove that they have decided to sell within three years, and the equity capital of financial asset investment companies or affiliated institutions is more than 50%;

(4) A subsidiary non-financial institution that meets any of the following conditions:

1. The proportion of financial assets in total assets is less than 50% (the scope of financial assets shall conform to the relevant provisions of Accounting Standards for Enterprises No.22-Recognition and Measurement of Financial Instruments);

2. The asset-liability ratio is lower than 70%;

3. It is recognized by China Banking and Insurance Regulatory Commission and its agencies that it has no investment and financing function.

The conditions stipulated in this paragraph are mainly judged according to the arithmetic average of the audited year-end financial statements of the affiliated non-financial institution in the last two years. If it is established less than two years, it can be judged according to the audited financial statements from the date of establishment to the latest period.

Article 47　If a financial asset investment company and its affiliated financial institutions provide long-term repayment guarantee to affiliated non-financial institutions, the non-financial institutions shall be included in the scope of capital supervision; If there is no repayment guarantee or the repayment guarantee can be unconditionally revoked, the financial asset investment company shall handle it according to the principle of prudence. Equity investment through structured entities such as asset management plans and funds should be managed according to the penetrating principle.

Article 48　A financial asset investment company shall strengthen the capital management of its subsidiaries, determine the management requirements for the capital adequacy of its subsidiaries at all levels according to its actual situation, and urge the subsidiaries to continuously meet the capital management and supervision requirements.

Article 49　China Banking and Insurance Regulatory Commission and its dispatched offices have the right to determine and adjust the scope of capital supervision according to the changes in equity structure and risk categories of financial asset investment companies and their investment institutions.

Chapter III Internal Capital Adequacy Assessment Procedures

Article 50　A financial asset investment company shall, in accordance with the regulatory requirements, establish a sound risk management framework and a robust internal capital adequacy assessment procedure, clarify the risk governance structure, carefully assess various risks, capital adequacy levels and capital quality, and formulate capital planning and capital management plans to ensure that capital can fully resist the risks it faces and meet the needs of business development.

Article 51　The board of directors of a financial asset investment company bears the primary responsibility for capital management of the company. The board of directors shall perform the following duties:

(1) Set the risk preference and capital adequacy target suitable for the company’s development strategy and external environment, and examine and approve the internal capital adequacy assessment procedures to ensure that the capital fully covers the major risks.

(2) Examining and approving the company’s capital management system, and ensuring that the capital management policies and control measures are effective.

(3) Examining and approving and supervising the implementation of capital planning. Examine and approve the capital management plan at least once a year, review the capital management report and the internal capital adequacy assessment report, and listen to the audit report on the implementation of the capital management and internal capital adequacy assessment procedures.

(4) Examining and approving the policies, procedures and contents of capital information disclosure, and ensuring the truthfulness, accuracy and completeness of the disclosed information.

(five) to ensure that financial asset investment companies have sufficient resources to independently and effectively carry out capital management.

Article 52　When making a capital plan, a financial asset investment company shall comprehensively consider the results of risk assessment, stress test, future capital demand, capital regulatory requirements and capital availability to ensure that the capital level continuously meets the regulatory requirements. Capital planning should set at least a three-year target of internal capital level.

Article 53　A financial asset investment company shall improve its reporting system, regularly monitor and report the changing trend of the company’s capital level and main influencing factors, and the report shall at least include the following contents:

(1) Assessing the impact of major risks and development trends, strategic objectives and external environment on the capital level;

(2) Assessing whether the capital actually held is sufficient to resist major risks;

(3) Put forward suggestions to ensure that capital can fully cover major risks.

According to the different importance and purpose of the report, a financial asset investment company shall specify the sending scope, contents and details of all kinds of reports, and ensure that the reporting information and frequency meet the needs of the capital management of the financial asset investment company.

A financial asset investment company shall submit a report on capital management and internal capital adequacy assessment to China Banking and Insurance Regulatory Commission within four months after the end of the year.

Chapter IV Supervision and Administration

Article 54　China Banking and Insurance Regulatory Commission and its agencies shall supervise and inspect the capital adequacy of financial asset investment companies to ensure that the capital can fully cover all kinds of risks.

Article 55　China Banking and Insurance Regulatory Commission and its dispatched offices have the right to put forward more prudent additional capital requirements according to the daily supervision and on-site inspection to ensure that the capital fully covers risks, including:

(a) according to the function orientation of a single financial asset investment company, the implementation of development strategy, the operation and development of debt-to-equity swap, etc., the additional capital requirements put forward;

(2) According to the judgment of the risk of a specific asset portfolio and its relevance to the main business, the additional capital requirements for a specific asset portfolio are put forward by adjusting the risk weight and other methods;

(3) According to the fact that a single financial asset investment company has not established an internal capital adequacy assessment procedure, or the internal capital adequacy assessment procedure fails to meet the relevant requirements, combined with the assessment results of the risk situation, the additional capital requirements are put forward for the financial asset investment company;

(4) According to the operational risk management level of a single financial asset investment company and the occurrence of operational risk events, the additional capital requirements for operational risk put forward by the financial asset investment company;

(five) according to the results of supervision and inspection, the additional capital requirements for financial asset investment companies.

Article 56　According to the capital adequacy, China Banking and Insurance Regulatory Commission and its agencies will be divided into three categories of financial asset investment companies:

(1) Class I financial asset investment companies: the capital adequacy ratio, tier 1 capital adequacy ratio and core tier 1 capital adequacy ratio all meet the capital requirements at all levels as stipulated in these Measures.

(2) Type II financial asset investment companies: the capital adequacy ratio, tier 1 capital adequacy ratio and core tier 1 capital adequacy ratio are not lower than the minimum capital requirements and countercyclical capital requirements, but any one of them fails to meet the additional capital requirements.

(3) Category III financial asset investment companies: any one of the capital adequacy ratio, tier 1 capital adequacy ratio and core tier 1 capital adequacy ratio fails to meet the minimum capital requirements and countercyclical capital requirements.

Article 57　For the first type of financial asset investment companies, in order to prevent the rapid decline of their capital adequacy level, China Banking and Insurance Regulatory Commission and its dispatched offices may put forward the following regulatory requirements:

(a) to strengthen the analysis and prediction of the reasons for the decline in the level of capital adequacy;

(2) Formulating a feasible capital adequacy management plan;

(3) Improve risk control capability.

Article 58　For the second kind of financial asset investment companies, in addition to the regulatory measures stipulated in Article 57 of these Measures, China Banking and Insurance Regulatory Commission can also take the following regulatory measures according to law according to different situations:

(1) Prudent talks with the board of directors and senior management of the financial asset investment company.

(2) Issuing supervision opinions, including: problems existing in capital management, corrective measures to be taken, and opinions on meeting the standards within a time limit, etc.

(3) Require financial asset investment companies to formulate feasible capital replenishment plans and plans to meet the standards within a time limit.

(4) Increase the frequency of supervision and inspection on the capital adequacy of financial asset investment companies.

(5) Require financial asset investment companies to take risk mitigation measures in specific risk areas.

Article 59　For the third kind of financial asset investment companies, in addition to the regulatory measures stipulated in Articles 57 and 58 of these Measures, China Banking and Insurance Regulatory Commission can also take the following regulatory measures according to law according to different situations:

(1) Restrict financial asset investment companies from distributing dividends and other income. Dividends and other income include: items that can be used for profit distribution, stock repurchase, independent income from other Tier 1 capital instruments and independent payment to employees.

(2) Restrict financial asset investment companies from offering any form of incentives to directors and senior managers.

(3) Restrict financial asset investment companies from making equity investments or repurchasing capital instruments.

(four) to limit the important capital expenditure of financial asset investment companies.

(5) Require financial asset investment companies to control the growth of risky assets.

When dealing with such financial asset investment companies, China Banking and Insurance Regulatory Commission can also take other necessary measures in consideration of external factors.

Article 60　For financial asset investment companies whose leverage ratio is lower than the minimum regulatory requirements, China Banking and Insurance Regulatory Commission can put forward the following regulatory requirements:

(1) Replenishing Tier 1 capital within a limited period;

(2) Controlling the growth rate of assets on and off the balance sheet;

(3) Reduce the scale of off-balance-sheet assets.

Chapter V Information Disclosure

Article 61　A financial asset investment company shall disclose information related to capital adequacy to investors and the public through open channels to ensure the centralization, accessibility and openness of information disclosure.

Article 62　The frequency of information disclosure of financial asset investment companies is divided into temporary, semi-annual and annual disclosures. Among them, temporary information shall be disclosed in a timely manner, and the semi-annual information disclosure time shall be within the last 60 working days and the annual information disclosure time shall be within four months after the end of the fiscal year. If it cannot be disclosed on time due to special reasons, it shall apply to China Banking and Insurance Regulatory Commission and its dispatched offices for delayed disclosure at least 15 working days in advance.

Article 63　A financial asset investment company shall disclose relevant information at the following frequency:

(1) Changes in paid-in capital or common stock and other capital instruments shall be disclosed in a timely manner.

(2) Important information such as net core tier-one capital, net tier-one capital, net capital, core tier-one capital adequacy ratio, tier-one capital adequacy ratio, capital adequacy ratio and leverage ratio shall be disclosed once every six months.

(3) Relevant important information such as the calculation range of capital adequacy related indicators, total credit risk exposure, total non-performing assets, provision for impairment of credit risk assets, risk exposure balance after slow release of credit risk portfolio, market risk, operational risk, asset management business risk and debt-to-equity swap business risk shall be disclosed once a year.

Article 64　With the consent of China Banking and Insurance Regulatory Commission, the content of information disclosure can be appropriately simplified on the basis of meeting the overall requirements of information disclosure.

Chapter VI Supplementary Provisions

Article 65　China Banking and Insurance Regulatory Commission is responsible for the interpretation of these measures.

Article 66　These Measures shall come into force as of the date of issuance.

Attachment: 1. Assets credit risk weight in the balance sheet and risk mitigation tools for qualified equity investment.

　　　2. Measurement rules of market risk standard method

　　　3. Measurement rules of basic index method of operational risk

　　　4. Risk capital measurement rules for asset management business

　　　5. Credit conversion coefficient of off-balance sheet items

(The above attachment is omitted, please visit the website of China Banking and Insurance Regulatory Commission for details.)

　 　 　 　Cctv news (Reporter Su Jin) On December 12, 2014, the first phase of the Middle Route of South-to-North Water Transfer Project was officially put into use. Up to now, more than 50 billion cubic meters of water has been transferred to the north, which is equivalent to transferring the Yellow River to the north for one year. The population benefited from the project exceeds 85 million.

The tunnel crosses the Yellow River for the first time, and the largest aqueduct in the world … … One project with world-class difficulty runs continuously and safely in Henan, making a clear water meander northward.

　　The Yellow River Crossing Project keeps the river from invading the river.

(Photo courtesy of China South-to-North Water Transfer Project)　　

　　Xingyang City, Zhengzhou City, Henan Province, from the air, the rushing "South Water" meets the Yellow River here, and the Yangtze River water in the north passes through two tunnels crossing the Yellow River and swoops down here, crossing the Yellow River in ancient times. This is the symbolic and controlling project of the middle route of the South-to-North Water Transfer Project-the Yellow River Crossing Project, which is called the "throat" of the middle route of the South-to-North Water Transfer Project. Its main task is to transport water from the south bank of the Yellow River to the north bank of the Yellow River safely and effectively.

　　"This is one of the most challenging parts in the construction of the middle route of the South-to-North Water Transfer Project." Wu Guoquan, director of the Yellow River Crossing Management Office of the Middle Route Company of China South-to-North Water Diversion Group, introduced that at the beginning of the design, two schemes were put in front of us. Some people proposed to fly across the channel, while others suggested to drill holes. "After repeated scientific argumentation and numerous mathematical model calculations, the technical difficulty, water quality safety, ecological protection and other factors were comprehensively considered, and finally the shield tunnel crossing yellow river scheme was selected."

　　The Yellow River Crossing Project is located about 30km upstream of the Beijing-Guangzhou Railway Bridge on the Yellow River in Zhengzhou City, Henan Province, with a total length of 19.30km. The most difficult project is the Yellow River Crossing Tunnel, with a single tunnel length of 4,250 m, of which the river crossing tunnel is 3,450 m long and the inner diameter of the tunnel is 7.0m m. The tunnel is arranged in parallel with two holes, and the center line spacing is 28m.

　　"Under the bed of the Yellow River, long deposits form various complex strata." Wu Guoquan still remembers the difficulties in construction. The shield machine moves forward slowly, and more than 100 cutters on the cutter head rotate and cut. The cutter head is worn, and it will continue to advance after replacement and repair; The geological conditions ahead are changeable, so the plan should be adjusted in time … …

　　A water diversion line is also a "scientific and technological innovation line". The breakthrough of technical problems has broken records: for the first time, a large-diameter tunnel was used to cross the bottom of the Yellow River, for the first time in China, a mud-water pressurized balanced shield machine was used for hydraulic tunnel construction, a 3.45-kilometer Yellow River channel was crossed at one time, and the accuracy error of the shaft reaching the south bank was successfully controlled within 3 cm.

　　According to reports, as of August 30, 2022, the tunnel crossing the Yellow River in the middle line has accumulated 35.75 billion cubic meters of water to the north, greatly alleviating the water shortage in Beijing, Tianjin and Hebei.

　　Shahe aqueduct, the first aqueduct in the world

(Photo courtesy of Shahe Aqueduct China South-to-North Water Transfer Group)

　　Lushan County, Pingdingshan City, Henan Province, Shahe Aqueduct is like a dragon flying across, entrenched in the Central Plains. This "overpass on the water" shocked the reporters of the online theme publicity campaign of the South-to-North Water Transfer Project, "Miracle China Tianhe Dreaming".

　　Shahe aqueduct project, with a total length of 11.9km, is one of the largest and most complicated control projects in the middle route of South-to-North Water Transfer Project, and the largest comprehensive aqueduct project in the world at present.

　　Zhang Peng, director of Lushan Management Office of China South-to-North Water Diversion Group Middle Line Company, introduced that the beam aqueduct of Shahe Aqueduct weighs 1,200 tons, and the integrated construction scheme of "lifting, transporting and erecting" was adopted to efficiently complete the project construction, which filled the technical gap in the design and construction of large-flow aqueduct in water conservancy industry at home and abroad.

　　Armed police officers and soldiers left a message on the blackboard in the classroom of Shilou Central Primary School.

　　In Shilou Middle School, the workers are repaving the plastic playground.

　　The staff of Shilou Middle School decorated the classroom before the start of school.

　　People’s Liberation Army (PLA) and Armed Police (CAPF) who left their expectations and entrustment on the school blackboard after the flood fighting and disaster relief, principals who "cut the wall" to help the affected villagers out of danger in times of crisis, and construction workers who still stick to the campus to help restore and rebuild in the new semester … …

　　In the past few days, the disaster-stricken schools in Mentougou and Fangshan District have carefully planned various forms of "the first lesson of starting school" on the basis of ensuring that "no one can be less", and skillfully incorporated the touching stories and experiences in the flood into the "first lesson" so that the teachers and students of the school can always remember these "most lovely people".

　　The "first lesson" of the disaster-stricken school conveys the entrustment and expectation of the People’s Liberation Army

　　"Young strong, China is strong. I hope that you will live up to your youth, make a difference and be a pillar of the motherland. " In the classroom blackboard of Qingshui School in Mentougou District, there is still a message left by the uncle of the People’s Liberation Army of China, who used to fight floods and provide disaster relief here. In the middle of the blackboard, there is a chalk picture of the People’s Liberation Army holding the national flag, and on both sides, it says, "We are willing to guard the prosperous China with our youth". It is understood that at the beginning of August, a certain unit of the People’s Liberation Army was ordered to go to Qingshui Town to support local flood fighting and disaster relief, and help the territory to carry out emergency rescue, material transportation, road rushing, dredging and clearing obstacles. As they are temporarily stationed in Shimizu School, the officers and men of the Armed Police live in the students’ classrooms. In mid-August, when the rescue mission was evacuated, the uncle of the People’s Liberation Army left a warm message for the students on the blackboard. Wang Hui, president of Qingshui School in Mentougou District, told Beijing Youth Daily that the teachers of the school will tell the students the story of the People’s Liberation Army’s flood fighting in the "first lesson" and convey the entrustment and expectation of the uncle of the People’s Liberation Army.

　　During the post-disaster restoration of Shilou Central Primary School in Fangshan District, the mud on the playground was dirty, thick and heavy. The officers and men of the Armed Police stepped forward and took the initiative to send a dredging team of more than 200 people. It took only one afternoon to completely clean up the mud and provide a clean and tidy sports ground for teachers and students. Before leaving school, they gave the school an unexpected surprise and left a precious gift: in every classroom, the soldiers drew a beautiful blackboard newspaper for the teachers and students, which read, "Move at the news of the flood, be fearless and retrograde", "The flood is merciless, there is love on earth", "The people are supreme, and the military and civilians are deeply in love" … …

　　At the same time, in order to let the children feel the military life personally, they left the children with compressed biscuits, instant meals in the field and other foods. In their letters to the children, they wrote: "Thanks to the rising sun of the motherland. During our mission, you gave us a warm home. Whether we are practicing martial arts and strengthening the army or studying and making progress, our tasks are different, but we all have the goal of devoting all our strength to the future socialist construction. You study with peace of mind, and we hold steel guns to protect you. "

　　The officers and men of the armed police also left a letter to the teacher in the office where they lived. The letter wrote: "Soldiers, guarding their homeland, are lovely; Teachers, cultivate the pillars of the country, respectable; Different positions and equal responsibilities. " Jiang Fuying, president of Shilou Central School, said, "These exquisite blackboard newspapers and letters will become children ‘ The first lesson ’ The best educational material. "

　　The "hero" of flood fighting and disaster relief went to school to tell personal stories.

　　At the beginning of the new semester this year, schools in Fangshan District have carefully designed the opening ceremony with the theme of "forge ahead with one heart and one mind", combined with the characteristics of the school period and the actual situation of the school, with "inspiration, gratitude and feeling" as the emotional main line. Through the opening speech of the party secretary and principal, the Blue Sky Rescue Team, armed police officers and soldiers, fire fighters, community cadres, parents’ representatives and other groups involved in the rescue are invited to tell advanced stories and touching stories. In addition to inviting officers and men of the armed police, Shilou Central Primary School also invited firefighters and staff of China Railway Jingxiong Project Department who had helped the school with dredging work to return to the school and tell their stories to the students. At the same time, the principal of the school will restore the school’s restoration work around the theme of "gratitude" in his speech, so that students can appreciate China’s great love spirit of "one party is in trouble and all parties support him" and pass it on.

　　The "First Class" of Xiayunling Central Primary School in Fangshan District issued a "Praise Sign-in Form" for each student, so that the students could go to the campus to find more than 150 staff and teachers of Beijing Construction Engineering Machinery Group who were helping the school to rebuild, and listen to their stories about what they saw and heard about the flood and the post-disaster reconstruction. "We want to invite every child to participate in the opening ceremony instead of attending it, so that the children can guess what we have experienced during the campus restoration, and let the children know the story behind every ordinary hero through interviews." The headmaster of Xiayunling Central Primary School said that the form of "Praise Sign-in Form" contains questions such as "expressing your feelings in six words" and "praising words you want to say", and at the same time, students will be asked to find the corresponding person according to the tips in the form, communicate with them and ask them to sign their names. The reporter of Beiqing Daily saw that there were "those who wore black leather shoes", "those who were 20 years older than me", "those with single eyelids", "those I admired" and "the most serious" in the sign-in form. "This is also for children to communicate socially in an open space.Stimulate children’s initiative and accumulate successful experience of individual socialization. "The headmaster of the school said.

　　Chang Zhangchang, the principal of Datai Central Primary School, served as a guide for the armed police during the flood season, just to see the children safe; Gao Lianchao, the headmaster of Wang Ping Middle School, "cut the wall" to save people, making the school a "safe island" in times of crisis; Ma Huan, the headmaster of Miaofengshan National School who just finished the operation, is on duty 24 hours a day, and has resettled more than 270 villagers affected by the disaster nearby … … During the flood fighting and disaster relief, many touching stories have emerged among the educators in Mentougou District, which will become an important resource for the "first lesson" and even the future teaching. "Disaster suddenly came, I didn’t consider anything! The safety of people’s lives and property is the first. This is my responsibility and mission. " Gao Lianchao, president of Wang Ping Middle School, told the reporter of Beiqing Daily that on the morning of July 31, the flood did not reach the school gate, and the water depth was waist-deep. The affected villagers across the road could not enter the school to take refuge. Gao Lianchao took the initiative to borrow a machine, cut a big hole in the west wall of the school, cut off the protective barbed wire, led the teachers and village cadres, took the villagers to the west wall with less water potential, and transported 87 villagers to the school through the cut hole for more than 20 trips, and temporarily arranged them in the student dormitory. Now, the cut wall has been restored, but the disaster relief story of President Gao Lianchao will remain in the hearts of every student and faculty of the school in the "first lesson" this year.

　　"At that time, there was only one thought in my heart, that is, I had to see with my own eyes 80 families in the Qianjuntai community farthest from Datai Street, as well as the students and staff there, and know that they were safe." Chang Zhangzhang, the 60-year-old principal of Datai Central Primary School, walked for more than five hours with 20 kilograms of materials on his back on August 6, and led a team of officers and men of the armed police to deliver materials to Qianjuntai Community, while looking for the lost students and faculty of Qianjuntai Primary School under his jurisdiction. After the disaster was stable, he quickly devoted himself to the post-disaster reconstruction of the school. In the new semester, Datai Central Primary School will be relocated to Wang Ping Central Primary School. The story of President Chang Zhangzhang will also serve as the "first lesson" for students at the new school site, inspiring the teachers and students of the two schools.

　　Touching stories in flood fighting and disaster relief have become unique educational and teaching resources.

　　The reporter of Beiqing Daily learned from the Mentougou District Education Committee that this year’s "First Class" is very special and will be presented in the form of situational psychological class meeting. The head teachers of each school will combine the psychological characteristics of students in different classes and the actual situation of the school, and under the guidance of psychological researchers and psychological teachers in Mentougou District, make good use of the special educational and teaching resources of floods and flood fighting stories to carefully design a unique, intelligent class meeting activity that reflects psychological health counseling.

　　Schools in Mentougou District will also enable teachers and students to turn floods and disasters into special educational and teaching resources through interdisciplinary project-based learning. Teachers of mathematics, Chinese, physics, chemistry, biology, geography, politics, fine arts and other disciplines are eager to try, and decided to combine the flood with the knowledge in books to educate and guide students to feel, understand and interpret the disaster from a scientific perspective. The teaching department of Dayu No.2 Primary School, combined with the actual situation, guides teachers to carry out "colorful promenade — — Warm heart, accompany happy growth, improve campus protection, build campus safety island, and how to make rainwater safe to drink. After the start of school, the teachers of the three research groups will lead students out of the classroom to participate in the reconstruction of their homes, and guide students to improve their comprehensive quality and social responsibility in project-based practical learning.

　　Around the theme of "Rebuilding a Beautiful Home", the kindergarten affiliated to Sanjiadian Primary School organizes all classes to study and design the "First Class" with the characteristics of children’s age as the core, focusing on flood fighting and disaster relief, psychological counseling and post-disaster reconstruction, focusing on the education of emotional communication and love, managing emotions, sharing people who helped us in disasters, and building a beautiful home together, so as to make the grades focused and the classes themed. The "Praise Sign-in Form" at the opening ceremony of Xiayunling Central Primary School in Fangshan District will also be combined with the school’s teaching curriculum after the school starts, and the relevant contents of floods will be integrated into daily teaching.

　　In addition, Mentougou District will also implement the "Safe Island" plan to upgrade and transform the school into an emergency shelter center in its community, which has the functions of refuge for victims, airdrop of materials, medical rescue, disaster relief command, and the stationing of rescue troops. Mentougou District Education Committee said that at present, the plan is being applied for expert demonstration, and plans to declare the experimental area for the construction of emergency shelters in schools.

　　Text/reporter Pu Changting Ye Wei Photography/reporter Cui Jun

　　site

　　The teachers and students of the two schools will jointly perform the school drama of fighting floods.

　　School starts on September 1st, and Xiacun Middle School in Fangshan District, which was severely damaged and could not start at the original site, will be merged with Shilou Middle School. What is the preparation for the merger? What "cooperation" will the two schools have in the new semester? Recently, a reporter from Beijing Youth Daily visited Shilou Middle School.

　　In front of the teaching building, several workers are repairing the floor tiles. Into the teaching building, from time to time there are workers carrying decoration tools to walk back and forth. In the classroom, desks and chairs have been placed, and staff are cleaning the floor and pasting tips; The teacher drew a welcome print on the blackboard … … In order to welcome 87 students from Xiacun Middle School, Shilou Middle School rearranged 16 classrooms. The original wall was painted white, and the slightly damaged prompt board was replaced with a new one.

　　"We hope that the school will also have a new atmosphere. There are many new prompts in the classroom, which represent our expectations for students." Guo Hongsheng, the principal of Shilou Middle School, told the reporter of Beiqing Daily that in the face of the upcoming new semester, the school has carefully prepared the "first lesson of school" with the theme of "empathy and common growth". According to Guo Hongsheng, "empathy" means that students can experience the love and support of the people from all walks of life through flood fighting and disaster relief, so that students can understand the emotion of "one side is in trouble and all sides support". "Common sense" means that without the leadership of the Communist Party of China (CPC) and the strong support of local governments, the disaster would be hard to pass. "We told the students about the support of the government and all sectors of society for the disaster relief people and let them feel how good our society is now." Guo Hongsheng said. "Growing together" means that the teachers and students of the two schools will grow together and develop together through merger.

　　It is reported that in order to boost students’ morale, Shilou Middle School will perform a traditional school project — — Play "Man Jiang Hong" with drums. "We also arranged a campus drama, which was jointly performed by students from Shilou Middle School and the former Xiacun Middle School, showing three parts: flood control, resettlement sites and future life." Guo Hongsheng said that the school drama will also be performed at the opening ceremony.

　　It is worth mentioning that, because Xiacun Middle School is about 10 kilometers away from Shilou Middle School, in order to facilitate students from the former Xiacun Middle School to go to and from school, the school has rebuilt 22 6-person dormitories to meet the accommodation problems of students from Xiacun and surrounding villages in the next few years. At the same time, the school also plans to equip four boarding teachers, two men and two women, to ensure the safety of students’ evening self-study and accommodation. "Our canteen has been renovated and will provide a better environment for more students to eat. The floor, wall and roof of the dormitory are being renovated, and air conditioners will be installed and new beds and bedding will be purchased, including washbasins, toothbrushes and towels. We will provide them for the children. " Guo Hongsheng said that after the renovation of the dormitory, it is necessary to wait for the environmental inspection to pass before moving in. Therefore, the school also communicated with the District Transportation Committee and the bus group to arrange a special shuttle bus before moving in the dormitory to ensure the commuting safety of students.

　　Cai Yali, the former director of moral education in Xiacun Middle School, told the reporter of Beiqing Daily that after the merger of the two schools was confirmed, the teacher had explained the relevant situation to the students and parents in advance by telephone and home visits, and asked for your opinions. "Some students are brought by the elderly on weekdays. When the elderly hear that students can stay in the future, they all say ‘ That’s great ’ 。” Cai Yali told the reporter of Beiqing Daily that if students choose accommodation, the school will take care of meals, self-study at night and accommodation, and life and rest will be regular. "Many students and parents are still looking forward to it." Text/reporter Pu Changting Ye Wei

Topic: 16th National Congress of China Communist Youth League.

　　On the afternoon of June 11th, a report on the heroic deeds of the 16th Communist Youth League’s earthquake relief was held in the Great Hall of the People. Six heroic models and one representative of the grassroots league cadres of the heroic deeds report group on earthquake relief organized by Publicity Department of the Communist Party of China, the Central Organization Department, the General Political Department of the People’s Liberation Army and the Sichuan Provincial Committee of the Communist Party of China reported to all the representatives of the 16th Communist Youth League.

　　The delegates said that they were deeply moved and infected after listening to the report on the advanced deeds of young heroes in earthquake relief. While being baptized by their souls and sublimated, they were determined to follow the example of young heroes, actively participate in the earthquake relief struggle and contribute their youth. The following is Li Changxiu, secretary of the directly under the authority Youth League Committee of the National Development and Reform Commission.

　　The two-hour report meeting ended in a blink of an eye, and I was deeply moved by the deeds of the disaster-resistant warriors. Their heroic earthquake relief actions have shown the world that our government, army and people are United as one, United as one, indomitable, and concentrated on the glory of the traditional virtues of the Chinese nation, which moved the whole world and made all Chinese sons and daughters proud! I will take these advanced figures and typical deeds as examples with the broad masses of young cadres of the National Development and Reform Commission, carry forward the spirit of not being afraid of fatigue and fighting continuously, do a solid job in emergency coordination and support, and further play the role of a new force and commando in earthquake relief. I feel that my post is also a battlefield for earthquake relief. Together with the youth members of the National Development and Reform Commission, I will learn and carry forward the lofty spirit of heroes who are fearless, resourceful and brave, and the people’s interests are above all else. I will dare to overcome difficulties, do my duty, be the new force and commando of development and reform, and support the reconstruction of disaster areas with practical actions to serve the motherland.

Editor: Li Erqing

　　CCTV News:according toChina Federation of Logistics and Purchasing website news,The China warehousing index jointly investigated by China Federation of Logistics and Purchasing and China Storage Development Co., Ltd. was 53.5% in September, 2023, up 1.5 percentage points from last month, and remained in the expansion range for eight consecutive months. The increase this month was obvious and reached the high point in the last five months, indicating that the warehousing industry maintained a relatively rapid development level. New orders, business volume, facility utilization rate, business profit, ending inventory, business activity expectation and other indexes have all rebounded, indicating that the demand for warehousing business has increased well, the profitability of enterprises has improved, the enthusiasm for replenishing warehouses has increased, and the expectations for the future are more optimistic. Specifically, this month’s index has the following characteristics:

　　Business demand grew well and the utilization rate of facilities improved significantly.In September, the business volume index was 56.2%, up 3.7 percentage points from the previous month, reaching a high point in the past five months; The new order index was 55.2%, up 1.5 percentage points from last month; The facility utilization index was 56.2%, up 5.3 percentage points from last month, reaching a high point in the past seven months. The three indexes reflecting the business demand are all at a high level in the expansion range, indicating that the warehousing market is running well and the business demand is showing an obvious growth trend. In terms of varieties, affected by the approaching Mid-Autumn Festival and National Day holiday, residents’ willingness to shop has increased, and the business volume of consumer goods and the utilization rate of facilities have greatly improved, especially food, clothing, textiles and daily necessities. Due to the arrival of the peak construction season for bulk commodities, the business volume of steel, building materials, machinery and equipment has also picked up significantly compared with the previous period.

　　Business profits rebounded and business conditions improved.In September, the charge price index was 50.6%, although it dropped by 0.6 percentage point from last month, but it was still in the expansion range, indicating that the charge price of warehousing business continued to increase slightly; The business profit index was 51.9%, up 2.2 percentage points from last month, and returned to the expansion range, indicating that the growth of business demand and charging price has strengthened the supporting role of profits, and the business situation of enterprises has improved to some extent.

　　Turnover remained efficient and inventory levels rebounded.In September, the average inventory turnover index was 53.8%, which was 0.5 percentage points lower than that of last month, but it still maintained a high level of prosperity in the expansion zone, indicating that the commodity turnover efficiency continued to improve and the upstream and downstream of the supply chain were smoothly connected. The ending inventory index was 54.2%, up 3.9 percentage points from the previous month, indicating that the commodity inventory level increased significantly. The holiday season is approaching, which stimulates the rapid growth of consumer demand, and the commodity market is also picking up during the peak season. The enthusiasm of enterprises for stocking has been greatly improved, and the overall inventory has been significantly improved compared with the previous low level.

　　Judging from the quarterly average value of the warehousing index, the overall trend in the first three quarters was on the rise, with the average value reaching 52.6% in the third quarter, and the recovery rate at the end of the quarter was accelerated, and the industry continued to develop well. In the fourth quarter, as the economy maintained a stable recovery trend, both supply and demand rebounded, and the effects of various policies were further manifested. In addition, the warehousing industry is expected to continue to maintain a good development trend.

　　Zhongxin. com, Guangzhou, June 6 (Fang Weibin, Jiang Xiaobo, Wang Xisong) Guangdong Marine Police Bureau reported on the 6 th that recently, it seized a batch of suspected smuggled frozen products in the waters of Zhanjiang Port, Guangdong Province, seized an iron-clad transport ship on the spot, and arrested three suspects. The frozen products were about 485 tons, and the case value was about 40 million yuan.

　　According to the report, at 0: 20 on May 30, the Guangdong Marine Police received a report from the masses that there were smuggling activities in the waters near Zhanjiang Port in Zhanjiang City. The bureau immediately assigned the law enforcement boat of Zhanjiang Marine Police Bureau of Guangdong Province to the target sea area for investigation.

　　At about 1 o’clock, the law enforcement boat arrived at the target sea area. After searching the sea, it was found that a ship was very suspicious. Law enforcement officers quickly locked the suspected ship, shouted a warning to it and stopped the ship for inspection. However, the suspected ship refused to cooperate with the inspection in an attempt to speed up the escape. Law enforcement officers immediately pursued it and intercepted the suspected ship in the waters off Zhanjiang Seaside Shipyard, and controlled three suspects on the spot.

　　After investigation, it was found that the suspected ship was an iron transport ship, with a cargo hold behind the bridge. The cargo hold was filled with white and black plastic woven bags, which contained about 485 tons of frozen products such as beef, brisket, tripe, beef tendon and donkey offal of unknown origin, with a case value of about 40 million yuan. The crew on board failed to provide proof of the relevant legal origin of the goods loaded on board, and law enforcement officers detained the ship and frozen products according to law.

　　At present, the case is under further investigation.