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How dare you play the hardcore drama Under the Sun?

It’s going to rain, and people want to chase dramas. Although the production of film and television dramas has been greatly reduced by the big environment in 2020, there are still many excellent hardcore suspense dramas, such as Hidden Corner from the perspective of children, Trident by the Economic Investigation Group for the elderly, roving inspection group that is sweeping the ratings list, and Under the Sun, which suddenly parachuted in the New Year’s Eve and launched strongly on Mango TV.

In particular, "Under the Sun" directed by Yutong Yan, starring Cai Wenjing, Liu Kai and Peng Guanying, and joined by Wang Jinsong, Feng Lei, sarina and other drama groups, is the most unique in terms of creativity and innovation. Now the plot has just started for more than a dozen episodes, and it has become a must-have drama on the Internet.

The drama can win everyone’s favor. Apart from the production and actors, the most crucial reason is that the director dares to play, not only dare to play, but also "the city will play"!

After all, Yan Yudan grew up in a military family, graduated from the law department of Fudan University, and was an expert in directing many criminal investigation dramas in CCTV. His rigorous knowledge system and rich creative experience made him disdainful of playing those proven prescribed moves, but he made a surprise attack and tried some new elements and gameplay.

For example, in terms of role setting, whether it is a hard-core chivalrous detective or a high-intelligence detective, it is all leftover buns from other people’s homes. This drama has created a pair of mixed doubles partners who seem to have nothing to do with fighting crime, and the contrast is particularly great. Ke Ying, played by Cai Wenjing, is a female teacher of a foreign language school. She is beautiful and intellectual, and she can’t see any lethality from her appearance. Xiaowu, a takeaway brother played by Liu Kai, is common in the market.

Such a pair of protagonists may not survive two episodes in other dramas, but in Under the Sun, they not only survived, but also lived like others dare not even think about it. In the first episode, on a dark night, Ke Ying encountered three Jiang Yang thieves, and the narrative rhythm of crackling broke through the plot reversal of the brain hole. With the third-party perspective played by Wang Jinsong, the whole process was deduced, making this anti-killing like a miracle.

If the image of the hero and heroine has knocked over the red tape of the genre drama, then the villain can be called shocking. The overbearing president Feng Xiaosheng and Jiang Yang Avenue Shen Shijie are strangely combined, played by a powerful actor, Peng Guanying. One second, he is a desperate parkour, and the next second, he has been standing on the stage and attracted a lot of attention. The seemingly gentle Feng Xiaosheng is secretly scared with the eyes of hidden evil spirits. This strange style of painting has broken through the conventional logic.

On the one hand, the beauty teacher’s version of "Complex Gold" and the villain’s version of "Chasing the Murder at White Night" were in high energy from the beginning. Shen Shijie, who became the voice of Feng Xiao, angered and killed the tip of the knife, revealing his bloodthirsty nature. Xiao Wu was like a tiger, and he was constantly in danger in the dangerous zone between black and white. Ke Ying was determined to find out the truth in his own way and use his beauty and wisdom to dance on the tip of the devil’s knife.

As an emotional suspense drama, Under the Sun dares to make the emotional relationship and drama conflict of the characters to the extreme. On the basis of hard-core suspense, it dares to try new ways of playing that no one dared to play before, both in terms of innovation and experience. Its appearance has made a good start for domestic dramas in 2021. I hope that from now on, there will be more and more good dramas, so that every day will be there.


What is the experience of playing volleyball on the bench? Come to Hainan to see "Village Pai"

This summer, the township volleyball league in Wenchang, Hainan was popular through the Internet. Although it is an amateur competition attended by local villagers, there are many fierce competitive scenes and more enthusiastic fans and spectators. There are competitions in every village and everyone can play ball. Why are local residents so keen on volleyball? Walk into Wenchang, Hainan and feel the popularity and vitality of the "village platoon" here.
In Wenchang volleyball circle, Huang Zi, who is over half a century old, is a famous figure. When he was young, he was also a fierce player on the court. Now he is too old to run, but his enthusiasm for volleyball remains undiminished. The township volleyball league was about to start that night, and Lao Huang was busy again. He loaded the fans’ clothes customized by his friends into the car.
The game on the field is fierce and the field is packed. Who would have thought that this was just a township volleyball league? Different from the 6-a-side volleyball matches we often see, all the volleyball played here is 9-a-side volleyball. Not only many people participated in the competition, but also many players went into battle barefoot or in slippers, and they played fast break, spike and block brilliantly.
Xu feng, captain of Wenchang Dongjiao Team: It’s hot here, and everyone likes to wear slippers. It’s easier to go outside. I’m used to playing. I can play without clothes or barefoot.
There is a court in every village, and everyone can play. In Wenchang, in such a stadium, the most common picture is to meet acquaintances. The players may be the "second brother" who went home during the summer vacation, or the "third uncle" who opened a shop in the town. We are close to each other and know each other well.
Fu Xingfa, a member of Wenchang Zhongxing Team: On the opposite side are some of my former friends, all of whom often play ball. Friends off the court, but opponents on the court, so we won’t give in to you. If you lose, let’s buy drinks.
The competition is amateur, but the organization of the competition is not sloppy. Physical education teachers are referees, young and beautiful volleyball babies, humorous commentators, various live broadcast equipment and even sponsors’ advertisements around the stadium. These professional stadium elements are all available, and cheerleader Huang Zi is very busy.
The competition not only attracted local people, but also many fans specially came from other places to experience the charm of Wenchang Village Pai. According to the organizer’s statistics, just two weeks after the competition started, it attracted tens of thousands of people to watch it.
Ms. Sheng, a volleyball fan in Haikou: I came from Haikou just to experience it and see if this feeling is really different. Young people can play, and old people can understand.
Laura, host of Hainan International Communication Center: Playing volleyball in Hainan is very popular. I have learned to play volleyball, that is, playing volleyball with them in Hainan.
The whole people love volleyball "village volleyball" and the mass base is deep.
A township volleyball match is really exciting and enjoyable. After stepping down from the field, the players have resumed their old lives. They may be farmers who cultivate the land, small business owners who run shops, or young people who go out to work or return home during holidays, but volleyball has become an indispensable part of their lives. Wenchang has a good reputation as the "hometown of volleyball". According to the Records of Wenchang County, Wenchang volleyball has a long history, and it has been more than a hundred years since volleyball was introduced to Wenchang in the early 20th century.
Lin Min, a cheerleader in Puqian Town, Wenchang City: There is always a volleyball match in our village. Everyone will play, and when the atmosphere comes up, they all play. It’s a natural gene. That’s how the ball hits the hand.
This court, which is hidden in the coconut grove, is the volleyball court in Yehai Village, Dongjiao Town, Wenchang City. It is a standard-sized court with all kinds of nets and sideline. In the evening, the weather is still hot, and many children are already playing on the court.
Fu Fangji, a middle school student in the eastern suburbs of Wenchang City: Show me the photos of my dad when he was young. I saw that my dad looked handsome when he played volleyball, and then I followed him. They all play on the playground with their classmates, often sweating.
In the mottled shadows of the trees, several teenagers confronted each other on the field. They were shirtless and sweaty, laughing and laughing constantly. The children in the village like to play games, and gradually developed solid basic skills in the confrontation. Of course, if you win, you can also get a reward.
Lin Fa, a middle school student in the eastern suburbs of Wenchang City: Whoever loses will treat you, and treat you to drinks.
The stadium is a paradise for children during the day and a stage for adults at night. Farming, selling vegetables, driving, opening stores … After work, people took off their shoes and played ball with bare arms until late at night. In the evening, there is a friendly match between Dongjiao Town and Dongge Town. The game has not started yet, and the field is already surrounded by villagers and fans.
In Wenchang, the whole people participate in volleyball, and the gameplay is even more varied. Playing with benches, everyone holding hands and playing together … Among them, the "bench" volleyball is the most distinctive, and the players use the "bench" to serve, spike and block.
In recent years, Wenchang has built and renovated many volleyball courts, large and small, with different standards. Today, there are more than 600 volleyball courts in the city, covering almost every village, with the participation of all men, women and children.
Bao Guangyu, director of Wenchang Tourism, Culture, Radio, Film and Sports Bureau: Every year, there will be new construction, renovation or renovation, ranging from a dozen to dozens of volleyball courts. At least millions of funds are invested in rural volleyball, just volleyball.
Grounding gas gathers popularity "village platoon" to make rural life more exciting.
With a strong local flavor, Wenchang volleyball is out of the circle, which also drives volleyball to blossom everywhere in Hainan. In recent years, some young people who love volleyball have also played at home and abroad. Village Pai, as a mass sport, has made the people play their best, and the local government has also actively promoted the cultural tourism industry centered on village Pai, which has promoted the prosperity of rural culture and economic development.
Fu Xiangming, although he is not tall, once participated in the first nine-a-side volleyball competition in China on behalf of Hainan Province. He was the only player without professional training. He worked hard with his teammates and finally won the championship.
Fu Xiangming, a member of Wenchang Dongjiao Team: When I was in the first grade of primary school, I tied a rope under the coconut tree and played volleyball with my classmates. Basically, I played volleyball with my classmates every day after class.
Fu Xiangming’s parents didn’t approve of his playing at first. However, seeing his son’s enthusiasm for volleyball, his parents finally chose to support him silently.
Fu Xiangming’s father, Fu Xiangshun: This is Xiang Ming’s winning prize in competitions in counties and cities in recent years. In order to encourage him, I will do everything as hard as I like volleyball.
Now Fu Xiangming works in a local coconut processing factory in Wenchang, and playing volleyball is still an important part of his life. Busy in the production line during the day, after work at night, he plunged into the volleyball court to feel the enthusiasm and passion of volleyball.
Fu Xiangming, a member of Wenchang Dongjiao team: You should work hard here to make money during the day, or your boss will deduct your salary. If you get off work, you usually get off work at five or six o’clock. When you get off work, you really want to get off work and play ball. I go to the stadium almost every day. If I don’t play, I just sit there and watch them play.
Fu Xiangming is only 162 meters tall, but he has a solid defensive skill in the back row. He saved the ball and risked his life. The locals gave him the nickname "Tie Sanbo".
Fu Xiangming, a member of Wenchang Dongjiao team: Those fans have a little recognition of my own strength, so I got the nickname. What they didn’t expect was that the ball could hardly be saved, but I thought in my heart that I could save the ball. Every game should be fought for honor and never admit defeat.
There are many people playing volleyball, watching volleyball and engaging in volleyball in Wenchang. For more than ten years, Wenchang Amateur Sports School has provided a group of excellent players for China men’s volleyball team, women’s volleyball team and sand volleyball team, and even more, it has stepped out of the world champion of sand volleyball, Lin Meimei. The popularity of Wenchang Township Volleyball League matches is closely related to the planning and organization of the local government. This year, there are 20 teams participating in the township volleyball league, with a total of 52 games, which last for 2 months. In order to expand its influence and meet more audiences, the local government has made detailed plans. In front of the shop, the town is decorated with lights to welcome visitors from all directions. The venue was brightly lit, and the inner and outer floors were surrounded by spectators. The shouts of players and the cheers of the audience pierced the night sky. The pedestrian street outside the venue is also very lively, with the live broadcast of the game on the big screen, wonderful programs on the stage, and the overflowing smell of vinegar, which makes the whole town immersed in the festive atmosphere.
Mr. Zhong, a volleyball fan in Haikou: As a Hainanese, I will feel that Hainan’s sports culture is going up.
Bao Guangyu, Director of Wenchang Tourism, Culture, Radio, Film and Sports Bureau: It is our goal to build Hainan’s "Village VA" ("Village Pai") into a well-known brand of mass sports events in China. We must continue to do so to make brand events more durable and more vital, and at the same time play a better role in driving.
"Village Pai" in Wenchang, Hainan: Making the countryside more vibrant.
This summer, a series of fiery "Village Pai" events, while constantly enriching the spiritual and cultural life of local people, have gradually become a new engine to promote rural revitalization. The rise and fall of "Village Pai" in Wenchang, Hainan has undoubtedly injected more vitality into the countryside and made the countryside present a more vibrant scene.

What else did you do right except "down the snow field" and "twinkle, twinkle, twinkle, bright stars"

Special feature of 1905 film network According to the statistics of the National Film Bureau, the total box office of movies on New Year’s Day holiday in 2024 was 1.533 billion yuan, setting a new record for the same period, with 36.6 million people watching movies and 1.411 billion yuan for domestic movies, accounting for 92.04% of the market.

Among them, the movie with the same name of the phenomenal explosion drama series won the box office champion on New Year’s Day with a box office score of 605 million yuan. In addition, the number of people who want to see the film before screening and the pre-sale results also ranked first in the same period.

Behind the box office performance of Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Stars, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle,

"Good Time, Good Place and Good People" in Twinkle, Twinkle and Bright Stars

The success of Twinkle, Twinkle, Bright Stars should be said to meet the three elements of "time, place and people" at the same time.

From the perspective of "weather", Twinkle, twinkle, bright stars is scheduled for New Year’s Eve. No matter whether it is "heavy snow" or "fireworks all over the sky" released in advance in the film’s announcement, it just provides the audience with the sense of ceremony they need on the occasion of the New Year’s Eve, and makes it a new choice to spend the countdown with lovers and girlfriends in the cinema.

The "sprinkling sugar" in the film itself is also a real "pouring sugar jar", and the word-of-mouth such as "sweet explosion" that keeps fermenting after the screening also makes the audience willing to go into the cinema to celebrate the New Year.

"Geographical location" is inseparable from the "viewing marketing" discussed in the program before "Today’s Film Review". "Twinkle, twinkle, twinkle, bright stars" has been stirring up the mystery of the "snow special field" before the release, echoing the famous scene of "Zhang Wansen, it’s snowing" that broke the hearts of countless viewers in the TV series, making the "snow special field" packed up early once the film was pre-sold.

Although the "snow special field" was limited by different cinema equipment, the final effect was not satisfactory, but it still promoted the "twinkle, twinkle, bright stars" to take a big step forward in publicity.

Finally, I have to mention "harmony between people". "Twinkle, twinkle, bright stars" aims at the target audience of the film itself very accurately — — Young women are the main audience, and most of them are in third-and fourth-tier cities.

And Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Stars, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle,

Looking closely at the fan portraits of Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Stars, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle,

Zhang Wansen, the hero of the film story, is called "secretly in love with the ceiling" and is a boy who "loves you hard to open his heart". What the female audience feels about Zhang Wansen is not "why don’t you say it", but "painful" and "abusive". This kind of sugar left in the glass slag on the ground can most impress the female audience.

Secondly, in the fourth-tier cities, where the pace of life is not so fast, the audience rarely takes care of all the contents of the film that are very demanding of logic, nor excessively thinks that the plot of the film is "ungrounded" and "suspended". What the audience in the fourth-tier cities need more is actually a "vacuum layer" created by isolating social pressure. In the layer, the audience can wholeheartedly enjoy the friction brought by love and romance and enjoy a wonderful dream woven by light and shadow.

Just as in Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twi Another example is some very important images in movies — — The moon, ferris wheel, spaceship, every element is hard to touch in reality, but it builds a romantic dream for the audience.

Word-of-mouth differentiation and the decline in the number of people watching movies,What are the shortcomings of Twinkle, Twinkle and Bright Stars?

However, two days after the film was released, the single-day box office performance of Twinkle, Twinkle and Bright Stars dropped from the first to the third, and the word-of-mouth of the film gradually became polarized. What are the shortcomings behind "Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Stars"?

First of all, "Twinkle, twinkle, bright stars" has always been a fan-oriented movie that was born with a huge fan base. It really caters to the needs of fans and realizes the unfulfilled wishes of the hero and heroine in TV dramas.

But also because of this, two days after the film was released, the number of people watching the film dropped sharply. The audience who wanted to watch the film for the first time had already entered the cinema, but for those who didn’t understand the TV series, the charm of the film was lacking.

In addition, although Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Stars, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle, Twinkle,

In fact, these two points also remind all other producers of drama modification how to adjust the direction in the subsequent film production to meet the common expectations of drama powder and non-drama powder.

"Twinkle, twinkle, twinkle, bright stars" was established in May and released at the end of the year. The overall production cycle is very short and the efficiency is very fast, but it can only be a film promoted under the routine industrial process. Only by catching up with specific time nodes, themes and people can it be successful. But in fact, a good film should be more refined in content and shooting skills, and naturally it will have a better release effect.


In 2024, the "3+1+2" mode of college entrance examination in our province will be arranged from June 7 to 10.

Xin Gansu client Lanzhou Xun(New Gansu Gansu Daily reporter Su Jiaying) The Provincial Education Examinations Institute recently announced the "Implementation Plan for the Admission Examination and Admission of Colleges and Universities in Gansu Province in 2024". In 2024, the "3+1+2" mode will be adopted in the general college entrance examination in our province, and the examination time will be arranged from June 7 to 10.

According to reports, in the "3+1+2" model, "3" is a unified college entrance examination subject of Chinese, mathematics and foreign languages (including English, Japanese, Russian, German, Spanish and French); "1" is the first choice for candidates in physics and history; "2" is two re-selected subjects selected by candidates from four subjects: ideological politics, geography, chemistry and biology. Unified college entrance examination subjects use national unified examination papers. The preferred subjects and re-selected subjects for the selective examination of high school academic level are independently proposed by our province.

The total score of candidates consists of three unified college entrance examination subjects and three selective examination subjects, with a full score of 750. Among them, the original scores of unified college entrance examination subjects such as Chinese, mathematics and foreign language use are included in the total scores of candidates, with a perfect score of 150 points for each subject; The first choice subjects of the selective examination (physics and history) are included in the total score of the candidates with the original score, with a perfect score of 100 points for each subject; The re-selected subjects (ideological and political, geography, chemistry, biology, 2 out of 4) are included in the candidates’ total score after the grade assignment conversion according to the Implementation Measures of Gansu Province for the Selective Examination Results of Ordinary Senior High Schools’ Academic Level Included in the Total Score of College Entrance Examination, with a perfect score of 100 for each subject.

Since this year, the enrollment of colleges and universities in our province has been combined with the unified college entrance examination and the ordinary high school academic level examination, with reference to the admission model of the comprehensive quality evaluation of ordinary high school students. The enrollment categories of colleges and universities in our province are divided into general category and artistic category, in which the general category is divided into four batches: undergraduate advance approval, undergraduate approval, higher vocational (specialist) advance approval and higher vocational (specialist) approval; There are three batches of arts and sports: undergraduate approval in advance, undergraduate approval and higher vocational (specialist) approval; Each batch is set up with several paragraphs, and the voluntary reporting mode of "college professional group" is implemented.


Central tune! Will house prices fall in the second half of the year? What changes have been made in regulation?

  Beijing, August 1 ST (Peng Yuru) In recent months, the property market has continued to pick up. In June, the price of new houses in 70 cities rose to a new high since July 2019. Will the direction of property market regulation change in the second half of the year?

  The the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held on July 30 gave the latest tone in 31 words: "We must adhere to the positioning that houses are used for living, not for speculation, and promote the stable and healthy development of the real estate market."

  Data Map: Real estate development. China News Service reporter Zhang Bin photo

  Why should we continue to insist on "housing without speculation"?

  At the end of 2016, the Central Economic Work Conference first proposed that "houses are used for living, not for speculation". Since then, "housing without speculation" has become a high-frequency word in the property market regulation policy.

  Affected by the epidemic and other factors, China’s economy (GDP) decreased by 6.8% in the first quarter and increased by 3.2% in the second quarter. Although the economic growth has achieved a V-shaped rebound, the current economic situation is still complicated and severe, and the instability and uncertainty are great. Why can’t the real estate regulation be relaxed?

  Xu Hongcai, deputy director of the Economic Policy Committee of China Policy Science Research Association, told Zhongxin. com that Politburo meeting of the Chinese Communist Party once again stressed the practical significance of "housing without speculation" and warned against rushing headlong into it. Recently, the housing prices in some cities have rebounded, while the housing prices have risen sharply, which is not conducive to the development of the real economy and will also affect the consumption power of residents. Therefore, we must persist in not using real estate as a short-term means to stimulate the economy, stabilize the property market and prevent ups and downs.

  "In the first half of the year, more than a dozen cities across the country relaxed their control policies ‘ One-day tour ’ Behind it is the impulse of local deregulation and stimulation of the real estate market. " Zhang Dawei, chief analyst of Zhongyuan Real Estate, told Zhongxin. com that the effect behind it is obvious. The real estate market has indeed stabilized rapidly, and even some cities have become hot.

  “‘ Don’t speculate if you live in a house ’ Positioning remains unchanged, sending a clear signal — — All localities must not have the luck of easily relaxing control policies. " Yan Yuejin, research director of the think tank center of Yiju Research Institute, told Zhongxin.com that in the future, where new situations such as rising land prices and housing prices appear, they will still actively control them.

  "With the adjustment of policies, many cities have begun to tighten the regulation of the property market. On the whole, the real estate market policy will continue to be stable in the second half of the year." Zhang Dawei said.

  Data Map: A real estate agency store in Beijing. Peng Ruru

  How to ensure the stable development of the property market?

  The symposium on real estate work held on July 24 proposed to implement a prudent management system for real estate finance, stabilize the stock, strictly control the increment, and prevent funds from illegally flowing into the real estate market; We should pay close attention to the establishment of a monitoring index system for the residential land market, regularly disclose the progress of land reserves and land construction in various places, and accept social supervision; It is necessary to play the role of fiscal and taxation policies, effectively regulate housing demand, and so on.

  Finance, land, finance and taxation are not traditional administrative control measures.

  In Yan Yuejin’s view, the focus of the forum is to adhere to the problem orientation, attach great importance to the new situation and new problems in the current real estate market, always tighten the string of real estate regulation and control, and unswervingly promote the implementation of a long-term mechanism.

  How to quickly discover new situations and problems, the forum proposed that the main responsibility of the city government should be fully implemented, problems should be quickly responded and disposed of, and targeted policies and measures should be taken in time. It is necessary to strengthen market monitoring, prompt, guide and warn market changes in time, and accurately analyze the market situation.

  It is worth noting that government officials from 10 cities including Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Hangzhou, Shenyang, Chengdu, Ningbo and Changsha attended the forum. Yan Yuejin said that most of these 10 cities belong to cities where house prices rose rapidly in the first half of this year, and their participation in the meeting itself is a signal.

  Since July, Shenzhen, Nanjing, Hangzhou, Ningbo, Dongguan and other hot cities have successively introduced policies to tighten real estate regulation. The executive meeting of the Shanghai Municipal Government held on July 30th pointed out that it is necessary to firmly adhere to the orientation of "housing without speculation", resolutely implement the normal long-term mechanism of "one city, one policy", stabilize land prices, house prices and expectations, and ensure the stable and healthy development of the market.

  Zhang Bo, dean of the branch of 58 Anjuke Real Estate Research Institute, predicted that real estate regulation and control will be more tight and timely in stabilizing land prices, housing prices and expectations in the second half of the year, and the cooling of the property market in the third quarter may show some signs.

  Data Map: A real estate project attracts many buyers to come to "Taofang". China News Agency issued Tang Yanjun photo

  It is not to suppress real estate, but to timely, scientifically and accurately regulate it.

  According to the report released by 58 cities and Anjuke, in July, the prices of new and second-hand houses in 67 key cities nationwide increased. Among them, the average online price of new houses increased by 0.04% from the previous month; The average listing price of second-hand houses increased by 0.54% month-on-month, and the average listing price of second-hand houses in 50 cities increased month-on-month.

  Yan Yuejin pointed out that the follow-up policies of overheated cities in the property market are expected to be tightened, especially where no regulatory policies have been introduced recently. Other cities will be more cautious in policy relaxation and will not relax easily.

  However, policy tightening is not blindly suppressing real estate. Adhere to the positioning of "housing and not speculating" in order to promote the stable and healthy development of the real estate market. The symposium demanded that differentiated control measures should be taken from the actual situation in various places, and timely, scientific and precise control should be adopted.

  On July 29th, Shenzhen "patched up" the new property market policy announced on July 15th, explaining in detail the policy application of on-the-road real estate transaction, the determination of settlement time, the policy of restricting the purchase of commercial housing, the purchase of houses by divorced people, the adjustment of ordinary housing standards, and the implementation of online signing of housing mortgage contracts.

  "In cities where the property market is relatively stable and there are no ups and downs, policy fluctuations are unlikely. Market participants do not have to worry too much about policy tightening, and they must understand the strength of policies in various cities and the driving force for further market stability." Yan Yuejin said that the regulation lies in blocking real estate speculation and meeting reasonable housing needs.

  On July 20th, the State Council issued a document to comprehensively promote the renovation of old urban communities. By the end of 2025, we will strive to basically complete the renovation task of old urban communities that need to be renovated before the end of 2000. It involves nearly 39 million households and 220,000 old urban communities. The symposium on real estate work also called for doing a good job in housing security, promoting the transformation of old urban communities and shanty towns according to local conditions, and making efforts to solve the housing problems of urban new citizens and young people.

  Zhang Dawei said that the renovation of old residential areas is a win-win project that can not only protect people’s livelihood, but also stabilize investment and employment and stimulate consumption. Another expert pointed out that the renovation of old residential areas is not easy to cause speculation. From the perspective of ensuring housing demand, real estate has not been completely suppressed, and this situation of maintaining pressure will continue in the future. (End)


Chongqing accelerates the construction of a world-class intelligent networked new energy automobile industry cluster.

  Holding a mobile phone is like playing a game. With just one button, an unmanned vehicle loaded with an intelligent "brain" can automatically find a parking space and automatically park in a nearby parking space.

  In the smart factory, automobile production has tended to be unmanned, only to see the mechanical arm waving back and forth, running at high speed, and automatic robots shuttling back and forth to transport materials.

  In the park, cleaning vehicles automatically run on the road, vending machines come and go at any time, and shuttle buses no longer need to be driven by people … …

  This kind of scene makes the reporters of the Chongqing interview group dazzled by the online theme of "Going into the region to see the development and a new chapter of Sichuan and Chongqing".

  The application of new energy vehicles is no longer limited to transportation. It can not only become our smart partner and provide us with thoughtful and caring services, but also become an intelligent mobile space and create new value for us. At present, the automobile industry is undergoing profound changes, and intelligent networked new energy vehicles have become the general trend. As an important automobile production base in China, Chongqing is accelerating the construction of a world-class intelligent networked new energy automobile industry cluster.

  Master the core technology

  "The new car in the future is no longer a simple means of transportation, but will gradually evolve into a ‘ with similar human wisdom and emotion; Intelligent automobile robot ’ 。” Han Sanchu, chief software architect of Changan Automobile, said in an interview with Chongqing interview group.

  This idea has taken shape in the Deep Blue SL03 independently developed by Changan Automobile and the Aouita 11/011 jointly built by Changan Automobile, Contemporary Amperex Technology Co., Limited and Huawei based on CHN platform. Among them, AVATRUST extrasensory system, which comes standard in Aouita 11, includes three laser radars, six millimeter-wave radars, 12 ultrasonic radars and 13 high-definition cameras, which are jointly defined and developed by Aouita and Huawei, with a total of 34 intelligent driving sensors, which makes it the leader among new energy vehicles.

  In January this year, the sales of Changan Deep Blue SL03 and Aouita 11 ushered in a "good start". The monthly sales of Changan Deep Blue reached 6,137 vehicles, ranking second in the domestic new energy vehicle delivery list only with a difference of 200 vehicles. Aouita Science and Technology announced on February 5th that its delivery has exceeded 2,000 units. At this time, it was only 38 days since its delivery.

Changan automobile staff demonstrated automatic parking technology. People's Daily Online Hu Hongshe

Changan automobile staff demonstrated automatic parking technology. People’s Daily Online Hu Hongshe

  The popularity of "Made in Chongqing" new energy vehicles is largely due to mastering the core technology.

  For example, Changan Automobile Global R&D Center located in Liangjiang New Area has seven functions such as design, test and management, 12 fields such as simulation analysis, noise and vibration, passive safety, 180 laboratories such as hybrid power, air conditioning system and nonmetallic materials, and a world-leading data center built by cloud technology, and is setting up a software development team of 2,000 people and a new energy R&D team of 2,500 people. This indicates that Changan Automobile has entered the R&D 4.0 era of "independent innovation and global collaboration".

  Starting the third venture since 2017 — — Since the innovation and entrepreneurship plan, Changan Automobile has achieved breakthroughs in two major areas: new energy and intelligence. Up to now, Changan Automobile has mastered more than 600 intelligent low-carbon core technologies; "Zero-fire" batteries and "seven-in-one" smart cores have all reached the leading level in the industry; The number of patent applications reached 4,745 in 2022 alone; The "National Key Laboratory of Intelligent Vehicle Safety Technology" jointly established with China Automobile Research Institute and Zhongke Xin was approved by the state, which is one of the only two national key laboratories in the automotive field.

The delegation visited Changan Automobile Global R&D Center. People's Daily Online Hu Hongshe

The delegation visited Changan Automobile Global R&D Center. People’s Daily Online Hu Hongshe

  In the past five years, Changan Automobile has invested a total of 57 billion yuan, and has built a global R&D layout of "six countries and ten places", and its R&D strength has been ranked in the forefront of China automobile industry for six consecutive years. At the same time, in recent years, Changan Automobile has seized a great opportunity to build a twin-city economic circle in Chengdu-Chongqing area, and intensified its supply chain layout in Sichuan and Chongqing. The supporting rate of enterprises in Sichuan and Chongqing is increasing year by year.

  "This year, Changan Automobile will successively launch heavy products such as Deep Blue S7, C236, Browser EV and Aouita E12. More than 10 new products have been planned. Strive to exceed 2.8 million units in production and sales to ensure that the scale growth is more than 10 percentage points higher than the industry. " Wang Xiaofei, vice president of Changan Automobile, said.

  Building a smart factory

  Sailisi Liangjiang Smart Factory is the production base of M5 and M7 in AITO. As a leading private automobile enterprise in Chongqing, Cyrus has taken the initiative to change since 2016, started to develop new energy vehicles, and upgraded its products by relying on technological innovation.

  Walking into the Sailisi Smart Factory in Liangjiang New District of Chongqing, the mechanical arm is telescopic and rotating, more than 1,000 robots cooperate in an orderly manner, and laser welding runs at high speed. Here, it takes only 5 seconds to punch a set of automobile parts.

  Among them, stamping is the first process of making a car. The stamping workshop here has advanced technologies and equipment such as dust prevention and noise reduction, automatic packing, AGV automatic transmission, one-button die change, etc. It takes only 5 seconds to punch a part in a fully enclosed high-speed synchronous mechanical stamping line. At the same time, the stamping workshop is equipped with the most advanced blue light detection system in the world at present, the detection efficiency is 3 -5 times that of the traditional three-coordinate detection in the automobile factory, and the detection accuracy is 0.05 mm, which is thinner than a hair, which is an accuracy that cannot be achieved by manual operation.

The machinery in Sailisi Liangjiang Smart Factory works in an orderly manner. People's Daily Online Hu Hongshe

The machinery in Sailisi Liangjiang Smart Factory works in an orderly manner. People’s Daily Online Hu Hongshe

  In the welding workshop, it is more like a kingdom of robots, with more than 300 robots waving their "arms" constantly. The seemingly rugged and powerful "arm" can actually "embroider". Thanks to the advanced laser remote flying welding technology, flying welding can realize rapid welding by increasing laser energy and adjusting assembly gap without touching parts. "The thinnest part can reach 0.08mm, and its automation rate can reach 100%." The staff of Sailis Smart Factory introduced.

  The production line of the workshop adopts the adaptive welding controller from Bosch, which can automatically monitor the change of solder joint material and environment, and automatically adjust the whole welding parameters to ensure that each solder joint can meet the quality requirements. It is worth mentioning that this technology is only used in high-end automobile manufacturing at present, but it can be found in the factory of Sailis.

  A large number of seven-axis spraying robot arms are used in the painting workshop, which is the first automobile production line in China using seven-axis robot arms. Compared with the six-axis manipulator, the seven-axis manipulator is more flexible, which is convenient for the end effector to reach a specific position. Even in the dead corner of the car body, the seven-axis manipulator can paint with ease.

  It was put into production in 2019, and the factory was built according to the standard of Industry 4.0. It has five process workshops: stamping, welding, painting, final assembly and battery PACK. At the same time, more than 1,000 robots work together to achieve a high degree of automation, and 100% automation is achieved in key processes, and online inspection is carried out 24 hours a day, which not only effectively reduces labor costs, but also makes manufacturing more accurate.

  In September 2022, Liangjiang New Area signed a strategic cooperation agreement with Sailisi Group. According to the agreement, Celestial Wenjie New Energy Vehicle Upgrade Project will be located in Longxing Intelligent Networked New Energy Vehicle Industrial Park in Liangjiang New District, helping Chongqing to build a world-class intelligent networked new energy vehicle industrial cluster.

  The Sailisi new energy vehicle upgrade project is another intelligent production base driven by digitalization and intelligence, combined with new technologies such as big data and Internet of Things, and built by using digital twin technology. According to the plan, the project will be completed in the fourth quarter of 2023. After completion, the overall intelligent level will reach the international advanced and domestic leading level, and it will become another benchmark project for intelligent manufacturing of new energy vehicle enterprises in China.

  Investment continues to increase.

  As the "main battlefield" of Chongqing’s automobile industry, the automobile industry in Liangjiang New Area accounts for 70% of Chongqing. According to statistics, up to now, there are 64 high-end R&D platforms in Liangjiang New Area, including China Automobile Research Institute, German Mainland and France, with a total investment of 6.5 billion yuan in recent years, which has spawned a large number of new technologies and applications.

  In terms of intelligent networked vehicles, the district has gathered 6 enterprises producing intelligent networked vehicles and 18 enterprises related to other links in the industrial chain, which are mainly distributed in the fields of chips, millimeter-wave radars, operating systems, intelligent driving systems, unmanned solutions for specific scenes, positioning communication, central controller, intelligent cockpit, computing resources, vehicle-road coordination and intelligent transportation.

Changan Global R&D Center located in Liangjiang New District of Chongqing. Photo courtesy of Liangjiang New Area

Changan Global R&D Center located in Liangjiang New District of Chongqing. Photo courtesy of Liangjiang New Area

  In addition, Liangjiang New District is building a national-level pilot area for vehicle networking, and has built a 128-kilometer two-way demonstration road of Shiyu Expressway, a nearly 100-kilometer urban demonstration road (including intelligent networking test road), and built pilot demonstration areas such as Jialijia Smart Park and Liangjiang Collaborative Innovation Zone. Up to now, more than 500 sets of RSUs have been installed and more than 250 OBU vehicles have been installed.

  A single flower does not make a spring. While creating the leading effect of automobiles in Liangjiang New District, all districts and counties are also aiming at Chongqing to accelerate the goal of building a world-class intelligent networked new energy automobile industry cluster with a trillion-dollar level.

  On February 8th, jiangjin district Municipal People’s Government and Dongfeng Xiaokang Automobile Co., Ltd. formally signed a contract on the intelligent networked new energy vehicle project, with a total investment of 3.2 billion yuan, which was settled in Jiangjin District of Science City (Shuang Fu Industrial Park).

  In the field of intelligent networked new energy vehicles, Shapingba District has made great efforts to build a new track, with Cyrus as the leader, continuously attracting "left and right generals", speeding up the construction of high-end supporting projects such as Topp and Wencan, strengthening the chain, deepening the development model of "faucet+supporting+platform+key technology+scene", and promoting the deep integration of the industrial chain, value chain and innovation chain "three chains" of intelligent networked new energy vehicles.

  The continuous overweight of car companies and the continuous efforts of various districts and counties have given Chongqing more confidence in building a world-class intelligent networked new energy automobile industry cluster.

  "The development of intelligent networked new energy automobile industry is not only the main direction to promote the high-quality development of the automobile industry in the future, but also the key task to improve the mobile travel of the automobile industry and the construction of its social ecosystem." Zhou Qing, deputy secretary-general of Chongqing Municipal Government, said that Chongqing has the ability and responsibility to build a world-class intelligent networked new energy automobile industry cluster.

  On August 19th, 2022, the Chongqing Municipal Government issued the Development Plan for Building a World-class Intelligent Networked New Energy Automobile Industry Cluster in Chongqing (2022-2030).

  According to the plan, by 2025, the production and sales of new energy vehicles in Chongqing Intelligent Networking will account for more than 10% of the national total. By 2030, Chongqing will build a world-class intelligent networked new energy automobile industry cluster, and the industrial scale will reach the world-class level; Build one or two world-class intelligent networked new energy automobile enterprises and brands, form a world-class intelligent networked new energy automobile industrial chain ecology, and build a world-class intelligent networked new energy automobile experience capital. The intelligent networked new energy automobile industrial chain, supply chain and innovation chain have strong international radiation capabilities.

  At present, Chongqing has formulated an action plan for intelligent networked new energy auto parts system, an action plan for innovative application of autonomous driving and car networking, an action plan for application of automotive software and artificial intelligence, and an action plan for infrastructure and services to ensure the implementation and completion of the "planning".


Real estate recovery can be expected

Lian Ping/Wen

In the first half of the year, the recovery of the real estate market was difficult. Real estate sales showed a positive signal at the beginning of the year and fell again in the second quarter. House prices generally bottomed out, new house prices generally showed signs of stabilization, and second-hand house prices continued to fall. The financial situation of housing enterprises is tight, land acquisition is cautious, and land transactions continue to grow negatively. The special loan of "Baojiaolou" promoted the continuous improvement of the completion end, the investment in new housing construction and Jian ‘an project was slow, and the decline in real estate investment narrowed slightly.

Looking forward to the second half of the year, the real estate market may still face a "headwind" in a short period of time. The Politburo meeting brought a long-lost warm wind to the market. Housing policy will increase support in the second half of the year. The interest rate of individual housing loan policy is expected to remain low, and the market interest rate may be slightly lower. It is estimated that the annual residential sales are still expected to achieve a slight positive growth, the overall house price will gradually stabilize, and the supply and demand structure of the land market will improve. It is expected that more effective positive policies will be introduced in the second half of the year to promote the "second half" of real estate projects and alleviate the debt problem of housing enterprises. It is expected that the decline in real estate investment in the whole year will be narrower than that in the first half of the year.

I. Market Operation Outlook in the Second Half of the Year

1. This round of real estate cycle tends to be weak recovery.

The real estate market did recover in the first half of the year. With the implementation of previous policies and measures, the dark moment of real estate has passed and the recovery channel has been opened. Although the first quarter of the property market is fleeting, the real estate industry still has the momentum of sustainable development. First, the policy is in a relatively supportive stage. The further implementation of the previous property market policy and the continued relaxation of the subsequent property market policy will continue to provide a relatively relaxed policy support environment for the real estate industry. Second, the income of residents is gradually improving. With the economic recovery, the per capita disposable income of urban residents increased by 5.4% in the first half of the year, up 1.4 percentage points from the first quarter. Third, the continuous advancement of new urbanization continues to provide effective demand for the real estate market. In 2022, China’s urbanization rate is 65.2%, and the household registration rate is around 47%, which is far from the average level of 80% in developed economies. In the coming period, China is still in the rapid development stage of new urbanization, and the huge demand potential released in this process will provide strong support for the real estate market. Fourth, the fading of factors such as epidemic disturbance has promoted the rapid release of the backlog of demand.

At present, the purchasing power of residential departments is not as good as similar cycles in the past. In the past two decades, there have been three negative growth in real estate sales area, in 2008, 2014 and 2019. Among them, 2008 was hit by the global financial crisis, when the growth rate of disposable income of urban households was above 14%; The growth rate of disposable income of urban households was around 8%-9% when real estate sales declined in the last two times, but now, after three years of epidemic, the growth rate of disposable income of urban households is only around 5%. The slowdown of residents’ income growth is one of the important factors to curb the expansion of housing demand.

Housing financial support policies are relatively mild. Mortgage interest rate policy, the rate of interest rate reduction is relatively limited. The inflection point of this round of mortgage interest rate began at the end of the third quarter of 2021, and by the end of the second quarter of 2023, the LPR was reduced by 45 basis points, and the personal housing provident fund loan interest rate was reduced by 15 basis points, with a total reduction of 60 basis points. Although this is related to the current management of the overall domestic bank loan interest rate level, it is relatively small compared with the previous 100 and 150 basis points.

Real estate developers actually get less financial support. Although since the third quarter of 2022, commercial banks have gradually improved their loans to housing enterprises under the promotion of the special loan of "guaranteed property" and the policy of "three arrows of finance", considering that the target of policy support is mainly high-quality housing enterprises, the financing difficulties of some small and medium-sized housing enterprises with relatively poor qualifications have not been effectively solved. By the end of the first half of 2023, the off-balance-sheet financing of real estate enterprises continued to decrease, and many other listed real estate enterprises were told by the exchange that there was a risk of delisting, and the private financing capacity was relatively lacking. In the first half of the year, the self-raised funds of real estate enterprises (accounting for 35% of the sources of housing enterprises’ funds in 2022) decreased by more than 20% year-on-year, which was very rare in the past.

Under the background of the real estate support policy of most local governments in China, the central bank, policy banks and state-owned banks have increased the investment in housing financial resources, and launched development loan support plans, rescue funds, rental housing financial loan support tools and so on. Due to the impact of the epidemic and the pressure of long-term debt of real estate enterprises, it has had a great impact on the two important sectors of the real estate market-the residential sector and the real estate enterprises. It is difficult for the real estate market to repair as quickly as in 2009, 2013 and 2016, and the recovery cycle of this round of real estate market is likely to be weaker than the previous recovery cycle.

Based on the comprehensive judgment, it is expected that the real estate market may be in a weak recovery situation in general during the year. With the support of relatively loose housing policy, the situation of further rapid decline in the short term has been alleviated, but compared with previous recovery cycles, there may be many twists and turns in the recovery process, and the poor actual capital turnover of some housing enterprises may lead to the overall real estate construction investment is difficult to improve comprehensively. The expected return of real estate investment comes at a time when the sustained recovery of commercial housing sales and external financial support are needed. The downside risks of investment still exist during the year, and the drag on economic growth still needs attention.

2. The real estate policy is expected to further increase support.

The real estate policy will remain warm in the second half of the year. In July, the Politburo meeting decided to "adapt to the new situation of great changes in the supply and demand of China’s real estate market and adjust and optimize real estate policies in a timely manner". The basic idea of supporting policies is to continue to focus on improving housing sales and activating demand. At the same time, on the basis of the existing conditions, the policy will enhance the ability of high-quality housing enterprises to acquire land and expand, strengthen the investment in the construction of new and guaranteed buildings, and prevent large-scale accidents of housing enterprises as much as possible. Under the policy background of "staying in a house without speculation" and "making policy for the city", all localities will further explore the introduction of policies conducive to the stabilization of the real estate market, so as to gradually realize the goal of "three stabilities" in the real estate market.

On the demand side, the adjustment method is mainly to lower the threshold of buying houses and increase transaction activity. The mortgage interest rate is expected to drop slightly. With the central bank lowering the LPR benchmark interest rate in June, the benchmark mortgage interest rate of commercial banks will be lowered accordingly, and the first and second home mortgage interest rates are expected to fall further. The restrictive housing purchase policy is expected to be further loosened. It is expected that more third-tier cities will follow Yangzhou’s practice in the second half of the year and gradually cancel previous measures such as restricting purchases, loans and sales to promote the recovery of the property market. There may be more cities adopting the second-hand housing transaction mode of "mortgage transfer", moderately lowering the tax rate of second-hand housing transactions and reducing the brokerage service rate. For the first-tier and second-tier housing market with tight supply and demand, it is not excluded to gradually and moderately cancel the restrictive housing purchase policy for some or all urban areas when necessary, and increase the housing purchase subsidy to boost the confidence of the housing transaction market.

On the supply side, the main ways of policy support are to ensure the reasonable financing needs of housing enterprises, do a good job in risk management and control of housing enterprises and optimize the land transaction system. At the end of June, the central bank and the General Administration of Financial Supervision extended the two important financing businesses of real estate enterprises until the end of 2024, and proposed that the next stage will keep the real estate financing reasonable and moderate, increase the financial support of Baojiaolou, and promote the marketization of industry risks. It is expected that relevant departments will speed up the examination and approval of bond financing and equity financing of housing enterprises, meet the reasonable financing needs of the industry (especially for high-quality housing enterprises), promote mergers and acquisitions of the industry, and continuously improve and optimize the assets and liabilities of housing enterprises. It is expected that the credit resources of "Baojiaolou" may increase in the second half of the year, which will accelerate the completion of commercial housing and the sale of existing homes. There is still room for improvement in the land market. It is expected that some big cities will gradually introduce high-quality land and increase the proportion of residential land supply. The rules of land auction may be loosened in terms of reducing the proportion of allocation or self-holding, the proportion of deposit, and the payment period, so as to reduce the funds occupied by real estate enterprises. Conditional cities may moderately increase the premium rate of land auction and increase the enthusiasm of real estate enterprises including private enterprises.

3. Investment confidence in the real estate market still needs to be boosted.

In the second half of the year, the sales of commercial housing may be suppressed first and then stabilized. At present, the foundation for the full recovery of the real estate market is not solid. Demand is mainly concentrated in first-tier cities and surrounding third-tier cities and key second-tier cities, and the housing demand accumulated over the past two years is expected to continue to be released. After the rapid release at the beginning of the year, it may enter a steady state in the remaining months, and the anxiety about the housing market may continue into the third quarter and become the lowest point in the year. In the fourth quarter, with the recovery of residents’ income and the completion of housing, it is expected to push up sales and pick up. The traditional "Golden September and Silver 10" market may be difficult to reproduce, but the high-end market in some big cities still has good appeal. The low base in the fourth quarter of 2022 will also help the growth of real estate sales in the fourth quarter technically. It is estimated that the sales area of commercial housing will increase slightly by about 2%-3% year-on-year, and the sales will turn from negative to positive.

The improvement of sales margin will help more cities to stop falling and stabilize housing prices. The month-on-month trend of commercial housing prices is basically synchronized with the performance of housing sales. It is expected that house prices may decline slightly in the third quarter and return to positive in the fourth quarter. The inventory of commercial housing in most second-and third-tier cities is at a relatively high level, and the process of destocking is relatively tortuous. Combined with the performance of similar cycles, it is estimated that by the end of the year, the price of new houses in China will increase by 1.5% year-on-year, the price of second-hand houses will increase by 0.5% year-on-year, and house prices in many cities will "turn from falling to rising". Housing prices in some big cities are relatively firm, which is due to the low inventory of existing commercial houses and the rising land prices in the past three to four quarters. It is estimated that the price of new houses in first-tier cities will increase by 3% year-on-year, and the price of second-hand houses will increase by 2% year-on-year.

The land market will still focus on big cities and their surrounding areas. Housing enterprises’ own interest expenses and debt repayment pressure are still not small. The main participants in the local auction market are still central enterprises and local state-owned enterprises with relatively stable styles. It is unlikely that private housing enterprises will significantly increase their land reserves during the year, but they may participate selectively in the second half of the year when the capital situation is relatively abundant. It is expected that some big cities will release more high-quality land plots. The central bank has indicated its support attitude towards the development loans of high-quality housing enterprises. Objectively, some high-quality housing enterprises also need to replenish their warehouses. According to estimates, the inventory (land reserve) of listed high-quality real estate enterprises is at a relatively low level. Based on the comprehensive calculation, the ratio of inventory to total assets of the top 30 real estate enterprises listed in A shares and H shares fell to 45.9% by the end of 2022, the second lowest since the epidemic in 2020. It is not difficult to explain why in the first half of 2023, state-owned enterprises such as China Resources, Poly and China Shipping ranked among the top three in terms of land acquisition amount during the year.

Confidence in real estate investment is still insufficient. Considering that the improvement of housing sales and land market is not fully improved, and most housing enterprises are still trapped and the financial situation is tight, the regional real estate investment mainly depends on the eastern coastal areas. From the perspective of the source of funds for housing enterprises, the incremental funds in the second half of the year mainly come from advance receipts, deposits and personal mortgage loans, and its growth rate is expected to improve slightly. The special loan for "Baojiaolou" will continue to provide support for the housing completion section. However, the off-balance-sheet "leverage reduction" behavior of housing enterprises may continue with a high probability, mainly because the balance of Chinese offshore US debt and trust will continue to decrease. With regard to the judgment of construction funds for projects under construction, it is expected that the extension of loans related to large-scale high-quality housing enterprises will be supported by banks, but the possibility of further capital injection by most small and medium-sized developers is low. Based on comprehensive judgment, it is expected that there will still be some downside risks in real estate investment in the second half of the year, and the pressure in the third quarter is relatively high. It is expected to rebound slightly in the fourth quarter, and the accumulated real estate investment in the whole year may fall by 7% year-on-year.

Second, the industry risk analysis

1, the macroeconomic impact of the real estate market downturn.

As a pillar industry of the national economy, real estate connects the two major demands of consumption and investment, and plays an important role in economic growth. According to statistics, real estate economic activities account for nearly 30% of GDP, real estate-related loans account for nearly 40% of bank credit, real estate-related income accounts for 50% of local comprehensive financial resources, and real estate accounts for 60% of urban residents’ assets. According to the model of Zhixin Research Institute, every 1% drop in real estate development investment will drag down the GDP growth rate by about 0.1 percentage points. In the first quarter, the real estate market turned down in the second quarter after a short period of spring. In the first half of the year, the decline in real estate investment dragged down the growth rate of fixed assets investment by 1.6 percentage points and the growth rate of total retail sales of consumer goods by 2.3 percentage points. It directly dragged down the GDP growth rate by about 0.4 percentage points, and indirectly dragged down GDP by about 0.5 percentage points; The negative impact of real estate-related activities on economic growth, especially on stimulating domestic demand, is remarkable. In the first half of the year, the growth rate of total retail sales of enterprises above designated size increased from 1.9% at the end of last year to 6.3%, but the growth rate of sales of products closely related to real estate was still lower than the average. For example, the sales growth rate of building and decoration materials, household appliances and audio-visual equipment, furniture, especially building products has not improved, but has further declined.

The drag of real estate investment on economic growth is expected to narrow slightly in the second half of the year, but it should not be taken lightly. Considering the financial pressure of housing enterprises, the low level of land acquisition and the pressure on the stock of Jian ‘an projects, it is difficult for real estate development investment to improve in the second half of the year. However, under the low cardinal utility in the same period last year, the year-on-year decline of real estate development investment will be narrowed from -7.9% in the first half of the year to -7%, and the drag of real estate on economic growth will also be slightly narrowed. It is estimated that investment in real estate development in the second half of the year may drag down investment in fixed assets by 1.6 percentage points, drag down social zero consumption by 2.1 percentage points, and drag down GDP growth by about 0.7 percentage points. According to the above calculation results, real estate investment may have a greater drag on GDP for the second consecutive year, which is really rare in the economic development of China in the past two decades. During this period, most real estate developers’ continuous reduction of balance sheets may imply the change of their main business objectives, that is, the change from actively expanding balance sheets to actively managing balance sheets. International experience shows that the formation of this trend may last for many years, in other words, the downward drag of real estate investment on the macro economy may continue further.

The land purchase fee may have a negative growth for three consecutive years, and the local government’s debt repayment pressure will increase. From January to June 2023, the land purchase fee was 2.1 trillion yuan, down 2.6% year-on-year; The corresponding local state-owned land transfer income was 1.87 trillion, down 20.9% year-on-year, and the decline may be further expanded in the second half of the year. Due to the continuous decline of land transfer income, the income of local government funds has also declined simultaneously, resulting in a decline in the proportion of these two incomes in the overall local fiscal revenue. By the end of June, 2023, the proportion of land transfer in the narrow sense of national fiscal revenue has dropped to only 13%, which is the lowest level in the past decade. It seems that the decline of land transfer revenue has little impact on national fiscal revenue. However, the decline in the scale and growth rate of land transfer income is actually a huge test for local finance. By the end of June, 2023, the proportion of land transfer revenue to local narrow fiscal revenue dropped to about 20%, and the proportion of local government fund revenue was 87%. In the three years since the introduction of the "Three Red Lines", the local government’s land transfer income has been negative for two consecutive years, and the land transfer income is likely to remain at a low level in the second half of the year, which means that the corresponding government fund expenditure projects have insufficient investment support. At present, the repayment guarantee multiple of local government special debt has been reduced to 3.5 times, and the repayment pressure of local government debt will continue to increase, which may induce urban investment companies in economically underdeveloped areas to face greater repayment pressure in the future, and does not rule out the possibility of local debt repayment delay or debt default.

2. The debt repayment pressure of housing enterprises cannot be ignored.

It is estimated that the outstanding debt of housing enterprises in the second half of the year is 369.2 billion yuan, a decrease of 126.7 billion yuan compared with the first half of the year, which is still no small challenge compared with revenue. Among them, in the third quarter, housing enterprises will usher in the second small peak of debt repayment in the year, which is still a big test for housing enterprises; In the fourth quarter, the debt repayment pressure of housing enterprises may be eased. It should be pointed out that the fluctuation of RMB exchange rate may lead to an increase of 5%-8% in the overall debt service cost of housing enterprises this year compared with last year.

Affected by delisting and debt default, there was a big funding gap in the special loan of "Baojiaolou" during the year. According to the public information of listed real estate enterprises that have been disclosed, in addition to the three companies that have been delisted in the first half of the year, there are currently six listed real estate enterprises in Shanghai and Shenzhen, and nine listed real estate enterprises in Hong Kong have suspended trading for more than 18 months before the end of the year, which may lead to the risk of triggering the exchange to issue a delisting warning letter. In view of the fact that many of the above-mentioned housing enterprises are well-known large and medium-sized housing enterprises, with a large number of projects and cities covered, and most of them have experienced problems such as debt default, project shutdown, significant decline in sales and tight cash flow. If the impact of delisting is superimposed, the difficulty of continuing to promote the task of "guaranteeing the delivery of buildings" may further increase, and it will have a certain impact on the smooth operation of the market. Based on financial calculations, including sales repayment ability, construction and installation costs, accounts payable and other indicators, it is estimated that the funding gap of "Baojiaolou" related to real estate enterprises that have been or are facing delisting risks may reach 400-500 billion yuan during the year.

3. Financial risks of housing enterprises need to be paid attention to.

At present, the interest rate of housing enterprises’ bank loans is higher than their return on investment. Due to factors such as epidemic disturbance, financing difficulties and periodicity, the return on investment of real estate enterprises has suddenly and rapidly declined since the fourth quarter of 2021, and it continues to be lower than the average loan interest rate of financial institutions. In history, only in the middle of 2011, there was a brief "cross" between the return on invested capital and the loan interest rate, but at that time, the return on invested capital of real estate enterprises was still at a relatively high level of more than 8%. According to statistics, the weighted return on investment capital (ROIC) of real estate enterprises listed on the mainland A-share market has rapidly dropped from 6%-8% in 2018-2020 to less than 4%, and it was 3% in the first quarter of 2023. Although the weighted average interest rate of RMB loans of financial institutions has gradually declined in the past three years, the overall loan interest rate has declined by about 100 basis points. By the end of the first quarter of 2023, the weighted average interest rate of loans will be 4.34%. That is to say, from the fourth quarter of 2021, for the relatively high-quality housing enterprises that can get loans from commercial banks, the on-balance-sheet credit cost begins to be higher than the return on investment. Perhaps in the short term, housing enterprises can fill the short-term liquidity gap through bank loans, but in the medium and long term, they will have to shrink credit to curb high costs. Therefore, the input cost is higher than the rate of return, which leads to a sharp contraction in the profits of housing enterprises in the past two years, and even some listed housing enterprises suffer losses, which is also an important reason for the non-performing loans of banking housing enterprises.

In recent years, the balance and non-performing rate of real estate loans of state-owned banks and large and medium-sized joint-stock commercial banks have been "Shuang Sheng". In order to actively respond to the policy call, commercial banks increased their credit support to housing enterprises in 2022, especially in the second half of the year. By the end of 2022, the credit balance of sample commercial banks to housing enterprises reached 6.4 trillion yuan, up 3.8% year-on-year, and the balance growth rate increased by 4.2 percentage points compared with the end of 2021. However, the increase in credit has not effectively reduced the scale and growth rate of non-performing loans of housing enterprises. At the end of 2022, the total non-performing loans of sample commercial banks and housing enterprises reached 268 billion yuan, a year-on-year increase of 68%; The non-performing loan ratio of housing enterprises rose to 4.2%, an increase of 1.6 percentage points from the end of 2021 and an increase of 3.3 percentage points from the end of 2019 before the epidemic. The rising rate of non-performing loans of commercial banks’ housing enterprises is caused by many factors, but the problem of "sequelae" after three years of epidemic is more prominent. By the end of 2022, the proportion of non-performing loans of housing enterprises in the total non-performing loans of commercial banks has risen to about 20%, even exceeding the level of non-performing loans of the four major housing enterprises during the subprime mortgage crisis in the United States from 2007 to 2009, which must be paid enough attention to.

It is very difficult for commercial banks to continuously increase credit support for housing enterprises. Usually, commercial banks have two ways to deal with non-performing loans. First, if the operating conditions of housing enterprises change positively with the improvement of housing sales, commercial banks will seek to solve the problem of non-performing loans by extending the loan period and allowing borrowers to extend their existing loans appropriately. The other is inclined to shrink and reduce the loan business of housing enterprises to reduce the scale of corresponding concern loans, but this may lead more housing enterprises to face more risk of debt default. In view of the large regional differences in the current national real estate market, some housing loans focusing on the real estate market in third-and fourth-tier cities may still be risky in the future.

Third, policy recommendations to maintain the healthy operation of the real estate market

The "July 24" Politburo meeting further strengthened the wording of supporting policies in the real estate field, and proposed "adjusting and optimizing real estate policies in a timely manner to adapt to the new situation in which the relationship between supply and demand in China’s real estate market has undergone major changes". This is of great significance to the real estate market and China’s economic recovery, and the real estate policy needs to be adjusted and optimized according to the actual situation.

At present, the real estate market is gradually turning from a comprehensive downturn to a recovery, but we still can’t underestimate the resistance and hidden risks faced by the recovery of the real estate market. The repair of residents’ balance sheets needs more patience, and the release rhythm of individual housing loans may be longer than before. To fully understand the risks of housing enterprises, real estate developers are facing operational difficulties, the increase of non-performing loans, financing sustainability and other issues that deserve more attention, and the whole is in the process of reducing leverage in the medium and long term. It is expected that some eligible first-tier and key second-tier cities in the second half of the year may cancel or moderately cancel the restrictive housing purchase policy and try to implement "one district, one policy"; The supply side will further increase the supply-side support of housing finance and effectively resolve the financial risks of housing enterprises. In order to better release the market demand and prevent and control the risks of housing enterprises, nine policy suggestions are put forward.

The first suggestion is to guide commercial banks to further provide stable housing credit support for residents. In view of the demand for rigid first suites, eligible cities can appropriately reduce the down payment ratio of mortgage loans, including key second-tier cities and some first-tier cities; Commercial banks can reduce the mortgage interest rate by "adding points"; Increase the relaxation of local provident fund policies, and the maximum amount of provident fund loans can be increased by 50,000-100,000 yuan. We will ensure that 2.3-2.5 trillion yuan of personal mortgage loans will be added throughout the year, which will drive the proportion of personal mortgage loans in commercial banks to increase by 0.2-0.3 percentage points.

The second proposal is to focus on supporting the demand for rigid housing and ensuring the lower purchase cost of the first suite. It is suggested that for cities with relatively low property market, the implementation space of preferential interest rate policy for first-home mortgage should be reserved or the lower limit of interest rate for first-home mortgage should be phased out. In order to reduce the pressure on commercial banks, the central government’s discount loan policy can be introduced to give financial subsidies to the lowered interest rates, and the implementation period is temporarily one year. According to the leverage leverage relationship between personal mortgage loans and housing sales in the past three years, the amount of mortgage loans involved is about 40 billion, and the corresponding amount of housing sales is about 250 billion yuan.

The third proposal is to give preferential loans to buyers who just need and improve their needs in stages. In order to alleviate the initial purchase cost of property buyers, it is suggested to implement a preferential repayment plan for personal mortgage loans and provident fund loans, with a loan interest rate reduced by 20% and a preferential period of two to three years. After the preferential period, commercial banks can negotiate with lenders to allocate this part of the early preferential loans to the rest of the period.

The fourth recommendation is that first-and second-tier cities should moderately loosen the policy of restricting purchases and loans to release demand, expand sales and recover funds. At present, the supply and demand structure of the real estate market has undergone tremendous changes. The public and society generally do not have a strong expectation of rising house prices, and the possibility of a sharp rise in house prices is small. At this time, the conditions for loosening the policy of restricting purchases and loans have been met. It is suggested that eligible cities can apply the policy of "recognizing houses but not loans". The national housing demand is mainly distributed in the first-and second-tier cities and the eastern coastal areas. After more than three years of the epidemic, the per capita disposable income in first-tier cities and second-tier provincial capitals increased by 5.6% annually, and the compound growth rate of primary school students was above 3%, which were significantly higher than the national average. Thanks to the support of industrial structure, social public services and high-quality educational resources, it also provides a good foundation for first-tier and key second-tier cities to bring more rigid and improved housing demand. Historical experience at home and abroad shows that relaxing restrictive measures, effectively increasing housing supply, actively controlling land prices and reasonably guiding market expectations will not lead to excessive rise in housing prices.

The fifth recommendation is to maintain reasonable financing support for high-quality housing enterprises. It is suggested that commercial banks speed up the approval and issuance of development loans and appropriately increase the proportion of development loans in the loan balance to meet the reasonable capital needs of high-quality housing enterprises. Encourage and promote large and medium-sized commercial banks to increase the provision of intentional comprehensive credit lines, and effectively implement the intention agreement signed with housing enterprises. It is suggested that 1.75-2 trillion yuan of bank housing development loans should be added throughout the year, and the proportion of development loans in the total credit stock of the banking system should be gradually increased to 6%-6.5%.

The sixth proposal is to increase the implementation of the targeted easing plan for housing enterprises, and steadily and orderly increase the scale of special loans, M&A loans and refinancing for "Baojiaolou". For high-quality housing enterprises, especially the top-ranked housing enterprises in China and real estate projects with complete documents, we will increase the financial support of banks for the "second half" of real estate project construction, and increase special loans from policy banks, M&A loans and refinancing from commercial banks. During the year, about 700 billion yuan of loans related to "Baojiaolou" were invested, which improved the cash flow pressure of related real estate enterprises and gradually stabilized their business expectations. Encourage financial institutions to carry out M&A loans in a steady and orderly manner, and focus on supporting high-quality housing enterprises to merge and acquire high-quality projects of housing enterprises with difficulties. It is suggested that banks should participate in M&A loans of about 300 billion yuan throughout the year. It is suggested that commercial banks appropriately increase the refinancing plan for housing enterprises and reduce the financing cost of housing enterprises by using lower refinancing interest rates.

Recommendation 7 is to intensify efforts to create a relaxed non-bank financial environment for housing enterprises and creatively use the "second and third arrows of housing financial support policy". Intensify efforts to dispose of non-performing loans in real estate and innovate transitional financial instruments for housing enterprises. Direct financial support can be increased for housing enterprises with relatively good qualifications, including the use of bonds, trusts, REITs, credit default swaps (private CDS) or credit risk mitigation certificates (CRMW). It is suggested to increase the scale of credit bonds issued by real estate enterprises in the mainland to 600-700 billion yuan in 2023, and the credit bonds issued in the first half of the year were only 280.4 billion yuan, down 0.4% year-on-year. For housing enterprises with relatively difficult operation and excellent stock assets, we can consider rationally using local poverty relief funds or introducing asset management company AMC to alleviate the short-term cash flow and debt pressure of this housing distribution enterprise and reduce its liquidity risk and debt default risk. It is suggested to expand the scope of equity financing of housing-related enterprises and related industries (including construction industry or industries closely related to the upstream and downstream of real estate construction), do a good job in restarting equity financing of well-run housing enterprises, and effectively play the direct financing function of the capital market.

Recommendation 8 is to explore the establishment of a national real estate fund to support the disposal of non-performing assets in the industry in the medium and long term. Due to the huge stock assets of real estate developers, in the medium and long term, due to the continuous decline in the return on net assets, the behavior of real estate enterprises to reduce leverage may continue for a long time. At present, there are nearly 10 mainland listed real estate enterprises that have received the delisting process letter from the exchange, with a total long-term loan scale of over 60 billion yuan and a total debt scale of over 100 billion yuan, which is highly likely to become non-performing loans of commercial banks in the future. If we only rely on policy banks and state-owned banks to undertake their non-performing loans, it may only be short-term, so we need policies to start in the medium and long term to prepare for the systematic "burden reduction" of the real estate industry. In order to make forward-looking preparations, it is suggested to study the establishment of a national real estate fund, with an initial scale of about 300 billion yuan, which roughly covers the current scale of non-performing loans of commercial banks and housing enterprises, and continue to inject capital in the following years to systematically and medium-and long-term deal with real estate financial risks.

Recommendation 9 is to effectively increase land supply in first-tier and key second-tier cities in the second half of the year. In the first half of 2023, the land supply area of first-tier cities and second-tier cities decreased by 15% and 19% respectively year-on-year. Insufficient land supply was an important factor that caused insufficient land transactions in the first half of the year. Judging from the land auction in the first half of the year, some big cities sold land at the top price, and the relevant high-quality housing enterprises were very enthusiastic about taking land. However, in view of the limited number of centralized land supply, the total amount of land transactions was relatively small. In the second half of the year, there were two or more times of centralized land supply in many big cities. Local governments should increase the quantity of land supply, improve the quality of land, better meet the land reserve needs of housing enterprises, and increase the market supply in a timely and effective manner.

(The author is the chief economist and dean of the research institute of Zhixin Investment)

Editor in Charge: Fang Fengjiao Editor in Chief: Cheng Kai


After the 19th National Congress, "Take care of food, take care of money, and take care of golf" was opened.

On October 22nd, the website of the State Supervision Commission of the Central Commission for Discipline Inspection quoted the discipline inspection and supervision team of the State Supervision Commission of the Central Commission for Discipline Inspection in the Ministry of Industry and Information Technology as saying: Recently, the discipline inspection and supervision team of the State Supervision Commission of the Central Commission for Discipline Inspection in the Ministry of Industry and Information Technology and the Inner Mongolia Autonomous Region Supervision Commission conducted a disciplinary review and supervision investigation on Li Dong, former director of the Equipment Industry Department of the Ministry of Industry and Information Technology.
After investigation, Li Dong, as a leading cadre in party member, was indifferent to political consciousness and lost his ideals and beliefs. After the 18th or 19th National Congress of the Communist Party of China, he still took care of food, money and golf. Violation of the spirit of the eight central regulations, accepting activities such as fitness, entertainment, banquets and tourism that may affect the fair execution of official duties, and accepting gifts that may affect the fair execution of official duties in violation of regulations, willing to be "hunted" and taking advantage of his position to seek benefits for others and accept property.
In this regard, the discipline inspection department commented: Li Dong seriously violated the party’s political discipline and integrity discipline, constituted a duty violation and was suspected of accepting bribes. He did not converge or stop after the 18 th National Congress of the Communist Party of China, and he still did not want to change or stop after the 19 th National Congress. The nature is bad and the circumstances are serious, which should be dealt with seriously.
In this bulletin, there is a statement that is very eye-catching, that is, Li Dong’s poor performance of "taking care of food, collecting money and playing golf" after the 18th or 19th National Congress of the Communist Party of China. Among them, eating and drinking with public funds or accepting bribes are all common problems of officials who have fallen off the horse, but the one of "playing golf" is full of personality and makes people "shine at the moment".
In fact, combing the recent anti-corruption news, it is not difficult to find that Li Dong is not the only fallen horse official who has been mentioned as having serious problems in "playing golf". On October 20th, the Supervision Committee of the Yunnan Provincial Commission for Discipline Inspection mentioned that Wang Qing, the former vice president of Yunnan Jiantou Group, was "accepting golf cards". On October 18th, when the Discipline Inspection and Supervision Team of the State Supervision Commission of the Central Commission for Discipline Inspection in the State-owned Assets Supervision and Administration Commission and the Supervision Commission of the Anhui Provincial Commission for Discipline Inspection informed the news that the former chairman of China Salt Industry Group, Qi Qingguo, was expelled from the Party and cancelled his retirement benefits, he also mentioned that he "illegally obtained, held and used golf cards". On October 14th, the Supervision Committee of the Guangdong Provincial Commission for Discipline Inspection informed the news that Huang Xiangqing, former deputy secretary of the Party Committee and general manager of Guangdong Salt Industry Group, was double-opened. In the middle, there was also the expression of "turning a deaf ear to the spirit of the eight central regulations and playing golf illegally".
Ordinary netizens who don’t understand the relevant regulations of the central government may wonder: as a sport, playing golf seems a little expensive, but what is the essential difference from playing table tennis and badminton? In this regard, only on the basis of understanding the relevant provisions of the central government and deeply understanding the essence of the phenomenon of "golf corruption" can we get the answer to this question. In fact, as early as a few years ago, the society had an in-depth discussion on this phenomenon, and these recent cases have once again reminded the public that "golf corruption", a negative phenomenon that once had a bad influence, still deserves our vigilance and attention.
If an official just pays for himself and plays honestly, it seems that there is no problem. But in fact, there is a lot of room for corruption above the golf course. Accompany officials to play golf, intentionally lose, give officials golf membership cards, officials to play golf with public funds for reimbursement or businessmen to pay for it … Corruption related to golf is varied and has a lot of tricks. On the one hand, golf, which is becoming popular, has no original sin, but on the other hand, when all kinds of corruption are carried out under the cover of golf, the ambiguous relationship between officials and golf cannot be explained, which cannot but make people wary.
It should be recognized that there are many chaos in the blending of power and money behind golf, which is not the speculation of onlookers, but the fact. Therefore, Article 87 of the Regulations on Disciplinary Actions in the Communist Party of China (CPC) clearly stipulates the quantity and discipline of "obtaining, holding and actually using sports fitness cards, clubs and club membership cards, golf cards and other consumption cards in violation of relevant regulations". Guangdong and other provinces have also issued prohibition notices on illegal golf. In this case, playing golf illegally is to touch the red line of discipline.
In 2015, Liu Jincheng, executive deputy director of the Integrity Research Center of China University of Mining and Technology, pointed out in an interview with China Discipline Inspection and Supervision that in order to keep officials at a "safe distance" from golf, on the one hand, it is necessary to strengthen the transparency of the investigation, and adopt a "zero tolerance" attitude towards the official’s public consumption and the trading of power and money with illegal businessmen; On the other hand, it is necessary to improve and perfect the complaint and reporting mechanism, and mobilize a wider range of supervision forces, so that any violations of officials are "nowhere to hide."
In the final analysis, the control of golf corruption is not aimed at golf, but at stripping all kinds of abnormal interest demands that breed in golf and putting the power in the hands of officials into the cage of the system. Only by letting power "keep its place" and unscrupulous businessmen stop "thinking" can golf return to its true nature.
Source: website of the Central Commission for Discipline Inspection, The Paper, People’s Daily Online, China Discipline Inspection and Supervision News, etc.

The image of Shougang ski jumping platform "Flying" will be opened to the public after its appearance in the Winter Olympics.

Shougang ski jumping platform has been officially built, and basically has the conditions to hold competitions.

  Beijing Youth Daily News (Reporter Li Zewei) As the first newly-built competition venue in Beijing’s 2022 Winter Olympics, Shougang Ski Platform was officially completed on October 31, and basically has the conditions to host the competition. During the Winter Olympics, four gold medals will be produced here, and after the Winter Olympics, it will become the first ski platform venue in the world to be permanently reserved and used.

  Huang Hui, director of the Urban Venue Construction Department of the Municipal Major Projects Office, introduced that Shougang Ski Jumping Platform is the first newly-built venue completed in the Beijing Division of the Beijing 2022 Winter Olympics, and it is also the only snow competition venue. It will host the ski jumping events of the Beijing 2022 Winter Olympics and the Winter Paralympics, and four gold medals will be produced here during the Beijing Winter Olympics. After the Winter Olympics, it will become the world’s first permanently reserved and used ski platform venue, a professional sports competition and training venue, and open to the public for mass leisure and fitness activities.

  Shougang ski jumping platform consists of three parts: the track, the referee tower and the stand area. The track is 164 meters long, 34 meters wide and 60 meters high. The form of the competition is that the single board player slides down from a height, takes off from a big platform, and performs high-altitude somersaults, gyrations and other technical actions.

  According to reports, the design of Shougang ski jumping platform incorporates the element of "flying" in Dunhuang murals. The meaning of "flying in the sky" and the English word "Big Air" in the ski platform project both have the meaning of leaping and flying into the air, and the curve of the flying ribbon is very consistent with the curve of the center of Shougang ski platform, and the shape of the building is beautiful and smooth. Shougang ski jumping platform started in December 2018 and was completed on October 31, 2019, with a construction period of less than one year.

  The original cooling pump station in Shougang’s old factory area will be transformed into a ticket inspection and security hall and an event management office area during the Winter Olympics, and will be transformed into a multi-functional comprehensive building after the games to provide supporting services for the future Shougang ski jumping sports park; The old main oxygen plant was transformed into a comprehensive building during the Winter Olympics. The most striking thing is that four towering cooling towers will be transformed into supporting spaces such as auditoriums or multi-function halls.

  According to the relevant person in charge of Beijing Shouao Real Estate Co., Ltd., the ski jumping platform is the most popular sport among young urban groups in the Winter Olympics and the World Skiing Championships. The venue for the Beijing Winter Olympics was selected in the central city of Beijing and settled in Shougang Park, hoping to perfectly combine this unique event with urban culture and further promote urban renewal and development through the Olympics.

  The ski platform of Shougang has been fully considered after the competition at the beginning of design and construction. After the Winter Olympics, the ski platform can realize rapid transformation. After the Winter Olympics, the venue can host sports competitions of big platform events at home and abroad, and become a training venue for professional athletes and sports teams, a training base for young reserve talents, and a training base for event managers, which will directly serve the promotion of ice and snow sports in China. At the same time, it will become a sports theme park serving the public as a landmark landscape tourist attraction and leisure and fitness activity venue for the Winter Olympics.

  At the same time, the water outlet was reserved during the construction of the track, and the big platform can not only ski, but also be transformed into more projects such as water skiing and grass skiing according to demand in the future. The sports square and audience area under the ski jumping platform are specially equipped with "atmosphere lighting" system, which will bring viewers a completely different experience from traditional events in the future, and can also hold large-scale activities such as concerts.


Fuzhou financial support for the integration of urban and rural development was successfully held.

In order to carry out the action of "three struggles and three leads" in depth, strive to write Fuzhou chapters such as technology and finance, green finance, inclusive finance, pension finance and digital finance, strengthen financial support for urban-rural integration development, and continue to create a first-class financial business environment. On January 8, Fuzhou Financial Support for Urban-rural Integration Development was successfully held. Vice Mayor Lin Zhiliang of Fuzhou Municipal People’s Government and Deputy Director Lin Jiandong of Fujian Rural Credit Cooperatives Union attended the event, with leaders from more than 30 municipal units and enterprises.

Lin Zhiliang, deputy mayor of Fuzhou, stressed in his speech that financial institutions should earnestly shoulder the heavy responsibility of rural revitalization and urban-rural integration development, increase financial support for Fuzhou’s characteristic agricultural industries such as aquatic products, edible fungi and tea, actively help agricultural parks, rural roads, rural water supply, rural tourism and human settlements improvement, and actively provide strong financial guarantee for urban-rural integration development and comprehensive rural revitalization.

Lin Jiandong, deputy director of Fujian Rural Credit Cooperatives Union, said in his speech that Fuzhou rural credit cooperative system should adhere to the political and people-oriented nature of financial work, focus on supporting urban and rural employment and entrepreneurial innovation, helping rural infrastructure upgrade, activating the value of rural resource elements and other key tasks around the "five major articles" put forward by the Central Financial Work Conference, continue to deepen cooperation, expand the "big ecology" of serving the people, and support the integrated development of urban and rural areas with more abundant products and better services.


The signing ceremony of Fuzhou Office of Fujian Rural Credit Cooperatives and Fuzhou Financial Bureau (Photo courtesy of Fuzhou Rural Credit Cooperatives)

At the meeting, Fuzhou Office of Fujian Rural Credit Cooperatives and Fuzhou Financial Bureau formally signed a strategic cooperation agreement on financial support for urban-rural integration development. According to the agreement, Fuzhou Rural Credit Cooperative will provide a comprehensive credit of 300 billion yuan within two years to support financing in urban and rural education, medical care, old-age care, housing and other fields, and the implementation of the project of "demonstrating and leading thousands of villages, making all villages rich and beautiful", helping the rural areas to revitalize in an all-round way and promoting the construction of a blessed state and a happy city.

At the matchmaking meeting, Fuzhou Rural Credit Cooperative System also released "one platform, one product" to support the development of urban-rural integration. "One platform" is "Rongxin e-link", which integrates the functions of "policy release, customer docking, execution tracking and information sharing" and is the first outreach service platform for docking cooperation units of rural credit cooperatives in the province.

During the activity, eight travel agencies in Fuzhou area carried out financing docking with representatives of participating enterprises, conducted in-depth exchanges and discussions, and signed credit contracts.

The relevant person in charge of Fuzhou Rural Credit Cooperative said that in the next stage, with the full support and full cooperation of all cooperative units, it will show greater achievements in helping to achieve a higher level of urban-rural integration and development, and achieve more qualitative and effective financial work results, so that the people can gain more sense, happiness and security. (Chen Yanshui)