A few days ago, the the State Council executive meeting deployed measures to increase the basic living security of the people in need, so as to secure the bottom line of people’s livelihood.

At the regular briefing on the State Council policy held by the State Council Office on August 26th, Yang Yinkai, deputy secretary general of the National Development and Reform Commission, introduced that from September this year to March next year, the linkage mechanism of price subsidies will be adjusted in stages, and the policy of "expanding the scope of protection and lowering the starting conditions" will be implemented, so as to increase the price subsidies for the needy people and effectively grasp the bottom line of people’s livelihood. It is estimated that the policy will cover 67 million people after the expansion.

One-time living allowance will be issued to people with difficulties such as the minimum living allowance, which will be fully completed by the end of August.

Since the beginning of this year, the bottom-up safeguard measures have been continuously improved, and the assistance to the people in need has also increased. By the end of June this year, 40.62 million people had received assistance from urban and rural residents, including 7 million urban residents and 33.62 million rural residents. The national urban minimum living standard is 734 yuan per person per month and the rural minimum living standard is 554 yuan per person per month; In the first half of this year, the accumulated expenditure on subsistence allowances was 92.62 billion yuan.

In order to implement the requirements of "expanding the minimum living allowance and increasing efficiency", the civil affairs department has continuously improved the minimum living allowance system. Liu Xitang, director of the Social Assistance Department of the Ministry of Civil Affairs, said that seriously ill and severely disabled people in marginal families have been included in the subsistence allowance alone, forming a combination of household insurance and personal insurance, and the system has more capacity; Encourage all localities to decentralize the examination and confirmation authority of subsistence allowances from the past counties to streets and towns to improve the efficiency of examination and verification; In addition, for low-income families whose per capita income exceeds the local minimum living standard after employment, a gradual retirement period of six months to one year will be given.

The temporary assistance system is mainly aimed at solving the sudden, urgent and temporary basic living difficulties encountered by urban and rural people. Since the beginning of this year, affected by epidemic and disaster, the number of people in need has increased. A few days ago, the the State Council executive meeting requested that the one-time living allowance issued to the needy people such as the minimum living allowance should be paid in place as soon as possible.

Residents, including migrant workers, who are unable to return to work due to the epidemic, have no income for three consecutive months, and are not included in unemployment insurance, can apply for a one-time temporary relief fund at their place of residence or domicile. Liu Xitang said that the work is progressing smoothly. Seventeen provinces in the country have all paid out, and all localities have issued an additional subsidy of 8.08 billion yuan for 40.18 million low-income recipients and extremely poor people, accounting for 90% of the total number of people in need. "It is expected that the work will be fully completed by the end of August, and the total amount of funds distributed is expected to be close to 10 billion yuan."

This year, the central government allocated 154.68 billion yuan to help the needy, an increase of 7.06 billion yuan over last year, and the local budget also increased investment accordingly. In the first half of the year, the national financial expenditure totaled more than 120 billion yuan, up 7% year-on-year.

Liu Xitang said, "Social assistance funds such as subsistence allowances are the focus of people’s livelihood security, and they are also the focus of financial support. It is no problem to implement special fund management and timely and fully distribute social assistance funds such as subsistence allowances."

The linkage mechanism of price compensation expands the scope of protection and reduces the starting conditions, which is expected to benefit about 9 million more people.

From January to July this year, China’s consumer price index (CPI) rose by 1.8% year-on-year, and rose by 2.7% year-on-year in July. Yang Yinkai said that due to factors such as imported inflationary pressure and seasonal increase in pork prices, the domestic price level may be slightly higher than that of the previous months in the latter months of this year to the first quarter of next year, which is lower than that of cardinal utility in the same period last year.

In order to alleviate the impact of rising prices on the basic livelihood of people in need, the linkage mechanism of price subsidies will be adjusted in stages from September this year to March next year.

After the adjustment, the scope of protection has been expanded. The current linkage mechanism of price compensation covers seven groups, including urban and rural minimum living allowances, destitute people, people receiving unemployment insurance benefits, special care recipients enjoying regular state pension subsidies, orphans, children who are actually left unattended and children infected with HIV, totaling about 58 million people.

On the basis of the above-mentioned seven groups, this time, two groups, namely, people receiving unemployment benefits and marginal population with minimum living allowance, will be added into the scope of protection of the linkage mechanism of price compensation. After expanding the scope of protection, it is expected to benefit about 9 million more people and cover about 67 million people in need. Conditional places can further expand the scope of protection.

Wan Jinsong, director of the Price Department of the National Development and Reform Commission, introduced that the people receiving unemployment benefits and the marginal population with low living allowances will be included in the scope of protection in stages, mainly considering that the people receiving unemployment benefits are unemployed, their income sources are unstable, and their lives are facing certain difficulties; Although the income of the marginal population is slightly higher than the minimum living standard, the living standard is generally low.

After adjustment, the starting conditions are reduced. The monthly year-on-year increase of CPI in the starting conditions of the price subsidy linkage mechanism was reduced from 3.5% to 3.0% in stages, while other starting conditions such as issuing price subsidies when the food price in CPI rose to 6% year-on-year, were kept unchanged, and the price subsidy linkage mechanism was started when any conditions were met.

"Reducing the start-up conditions is mainly due to the impact of epidemic situation and disasters. The income growth of people in need faces more difficulties, and the feeling of rising prices may be more obvious." Wan Jinsong said that after lowering the starting conditions, it is expected that the number of months and the starting area of the price subsidy linkage mechanism will increase significantly, which means that more people in need can receive price subsidies.

All localities will grant temporary price subsidies of about 20 billion yuan to people in need.

According to statistics, since 2020, local governments have distributed temporary price subsidies of about 31.5 billion yuan, benefiting 530 million people in need.

After adjusting the linkage mechanism of price subsidies in stages, it is estimated that from September this year to March next year, all localities will provide temporary price subsidies of about 20 billion yuan to the needy, of which about 7 billion yuan will be increased due to expanding the scope of protection and lowering the starting conditions.

Where does the additional funds come from? According to reports, the additional funds for those who receive unemployment insurance benefits and unemployment subsidies are paid from the unemployment insurance fund; The central government will provide subsidies to other needy people in different regions, including 30% in the eastern region, 60% in the central region and 80% in the western region.

"Temporary price subsidies are issued by the local authorities first and settled by the central government." Wan Jinsong said, in the current situation that governments at all levels are living a "tight life", the state still decided to adjust the linkage mechanism of price subsidies in stages and increase the price subsidies for the needy people, which fully demonstrated that the CPC Central Committee and the State Council always cared about and cared about the needy people, and always placed the protection of their basic livelihood in a prominent position.

Yang Yinkai said that the National Development and Reform Commission will work with relevant departments to strengthen work guidance, ensure that all the work of price subsidies is carried out in an orderly manner, and ensure that policy deployment can be fully implemented. (Reporter Lu Yanan)

　　The the Political Bureau of the Communist Party of China (CPC) Central Committee Conference held a few days ago emphasized that "consumption should play a leading role in the economic cycle", which is an important work deployed on the basis of a comprehensive analysis of the economic situation. In connection with the "Opinions on Further Releasing Consumption Potential and Promoting Sustainable Recovery of Consumption" issued by the General Office of the State Council not long ago, 20 key measures in five aspects were put forward. The "combination boxing" to promote consumption in order to consolidate and develop the market of more than 1.4 billion people has aroused widespread concern at home and abroad.

　　From the perspective of national economic operation, consumption has a lasting driving force for economic development, is an important engine to smooth the domestic cycle, and is also a key link to form a higher level dynamic balance between demand and supply, which is related to the national economy and people’s livelihood. Judging from the current economic situation in China, the triple pressures of demand contraction, supply shock and expected weakening have not changed, and some unfavorable factors are still evolving in a complicated way, and the new downward pressure has further increased. In the face of the situation, tasks and severe tests, we should not only have a full understanding, but also have countermeasures. It is undoubtedly crucial to do everything possible and comprehensively implement policies to release consumption potential and promote sustained recovery of consumption.

　　Statistics from the National Bureau of Statistics show that in 2021, the contribution rate of China’s final consumption expenditure growth to economic growth is 65.4%, which is higher than the contribution rate of total capital formation, and it is the main driving force for the stable recovery of the national economy, and the "ballast stone" role of consumption is prominent. In the first quarter of this year, thanks to the transformation and upgrading of traditional consumption, the release of new consumption potential and the strong "blood supplement" of online consumption, the overall market sales maintained steady growth. However, since March, domestic epidemics have occurred frequently, which has had a great impact on the consumer market. In March, the total retail sales of social consumer goods decreased by 3.5% year-on-year. Residents’ trips have been significantly reduced, and contact and aggregate consumption have been greatly affected. The foundation for sustained recovery of consumption still needs to be consolidated.

　　Among the key measures put forward in the Opinions, the first one is "increasing efforts to help enterprises bail out the difficulties around the main body of the insurance market", which is a key to promoting the orderly recovery and development of consumption and thus stabilizing the basic economic disk. As the COVID-19 epidemic directly impacts the consumer, small and medium-sized enterprises and individual industrial and commercial households, it has a great impact on low-income groups and basic people’s livelihood. At present, there are more than 150 million market players in China, carrying hundreds of millions of people to find jobs and start businesses. If you keep the market players, you can keep employment; If there is employment, there will be income and consumption, which will promote economic growth. The central and local governments have introduced relief measures such as tax reduction and fee reduction, and deferred payment of social insurance premiums. Some related companies such as take-away platforms have also responded positively, helping small and medium-sized businesses tide over the difficulties by reducing commissions.

　　Practice shows that reducing taxes and fees is a direct and effective way to help enterprises get rid of difficulties. All localities should, in light of the actual situation, introduce effective measures such as tax reduction and exemption according to law, so that the intensity of tax reduction and fee reduction will only increase, so as to stabilize market expectations. In addition, the financial system should also make profits to the real economy by reducing interest rates, reducing fees and other measures, and provide financing support to enterprises in industries seriously affected by the epidemic to avoid industrial loan restriction, loan withdrawal and loan suspension.

　　Stabilizing consumption growth and promoting consumption upgrading is a systematic project. Doing a good job in ensuring the supply and price stability of basic consumer goods, promoting the upgrading of physical consumption, continuously expanding cultural tourism consumption, fully tapping the consumption potential of counties and towns, reasonably increasing public consumption, and creating a safe, secure and honest consumption environment are all important tasks to increase the weight of consumption.

　　It should be noted that the impact of the epidemic on consumption is phased. With the effective control of the epidemic and the gradual emergence of policy effects, the normal economic order will be quickly restored and consumption will gradually pick up. China has a population of more than 1.4 billion, the largest domestic market with middle-income groups in the world, and the policy support and work deployment with both far and near, and the fundamentals of long-term positive consumption will not change. We should have full confidence in this. (This article Source: Economic Daily Author: Jin Guanping)

CCTV News:Another feature of Mid-Autumn Festival tourism this year is that cultural leisure tourism is favored. All localities combine the activation of intangible heritage with immersive experience to improve people’s sense of participation and identity with intangible heritage. Many places have also launched theme tourist routes such as Mid-Autumn Festival custom experience, attracting a large number of tourists. According to the data of special survey in china tourism academy, 94.1% of tourists participated in cultural leisure during holidays, and 24.8%, 35.6% and 25.6% visited historical and cultural blocks, museums, art galleries and art galleries respectively.

Traditional culture stimulates the consumption of cultural tourism in Mid-Autumn Festival holiday.

In flying tigers Scenic Area, Zaozhuang, Shandong, a group of children, dressed in Hanfu, listened to the historical story of wickerwork’s craft, made strips with straw ropes by themselves, and wound them around wicker baskets ring by ring, patiently weaving a beautiful yearning for the future.

During the Mid-Autumn Festival holiday, in Shanghai Haichang Ocean Park, a round of "bright moon" rippled in the water. Professional synchronized swimmers dressed in ancient costumes performed a series of underwater "the Goddess Chang’e flying to the moon" cultural feasts for the audience. In addition to "the Goddess Chang’e flying to the moon", there is also a cruise full of national trends, which attracts many tourists.

Characteristic cultural activities promote "night economy"

In addition to traditional cultural tourism, immersive moon viewing has also brought fire to urban night tours. Night tourism projects such as theme park night tours, river night tours and city night sightseeing have attracted many tourists.

According to the special survey data of china tourism academy, 29.3% of tourists experienced night tours during the Mid-Autumn Festival holiday.

Recently, with the overall promotion of epidemic prevention and control and economic and social development, the production and living order has been accelerated, the income growth rate of the national residents has maintained a rebound, and the consumer market has continued to rise steadily. Analysts believe that the strong resilience of China’s consumption has become an important ballast stone for China’s economy to resist the wind and waves in the first half of the year. In the second half of the year, the continuous efforts of policies such as expanding domestic demand, helping enterprises to bail out difficulties and stabilizing employment are expected to promote further compensation and recovery of consumption, thus adding more impetus to promoting the "big cycle" of domestic economy and the "double cycle" of domestic and international.

Income recovery and demand recovery

According to the latest data, in June, the total retail sales of consumer goods nationwide was 3.35 trillion yuan, down 1.8% year-on-year, and the decline narrowed for four consecutive months, with a cumulative decrease of 18.7 percentage points. From January to June, the total retail sales of social consumer goods was 17.23 trillion yuan, down 11.4% year-on-year, and the decline was 7.6 percentage points narrower than that in the first quarter.

"In the first half of the year, all localities adhered to the orientation of people’s livelihood, issued various consumer vouchers, developed the’ night economy’ through the integration of literature and tourism, helped invigorate the’ small store economy’, expanded consumption according to local conditions and took various measures to vigorously promote the recovery of household consumption. In the first half of the year, the decline in per capita consumption expenditure of the national residents narrowed significantly, with the nominal decline and the actual decline narrowing by 2.3 and 3.2 percentage points respectively compared with the first quarter. Residents’ daily necessities such as rice, flour, grain and oil, vegetables, meat, poultry and eggs were fully guaranteed, and residents’ home meals increased. In the first half of the year, the per capita expenditure on food, tobacco and alcohol increased by 5.0%, 2.9 percentage points faster than that in the first quarter. " Fang Xiaodan, director of the Household Survey Office of the National Bureau of Statistics, said.

It is worth noting that the rising growth rate of national residents’ income is inseparable from the gradual recovery of residents’ consumption level. The data shows that in the first half of the year, the per capita disposable income of the national residents was 15,666 yuan, a nominal increase of 2.4% over the same period of last year, and the nominal growth rate was 1.6 percentage points higher than that in the first quarter. After deducting the price factor, the actual decline was 2.6 percentage points narrower than that in the first quarter. At the same time, in the first half of the year, the per capita wage income of the national residents was 9010 yuan, an increase of 2.5%, 1.3 percentage points faster than that in the first quarter, and the per capita disposable income of the national residents increased by 1.4 percentage points.

Fang Xiaodan said that in terms of wage income, the resumption of work and production in various places has been solidly promoted, the vitality of economic and social development has recovered, and the economic fundamentals have laid the foundation for wage income growth; In operational income, the phased tax reduction and fee reduction, rent reduction and interest rate reduction, inclusive finance and other policy support have effectively reduced the production and operation costs of self-employed households and small and micro enterprises, and their operating conditions have improved compared with the first quarter.

There are many highlights in online consumption.

In the first half of this year, "offline limited online replenishment" became an important feature in the consumer field.

According to the data of the National Bureau of Statistics, under the prevention and control of the normalized epidemic situation, new consumption formats and new modes such as online shopping, online entertainment and online classroom are growing against the trend. For example, in the first half of the year, the number of people buying goods or services through the Internet generally increased, and the per capita postage expenditure increased by 10.8%. For another example, in order to meet the needs of home office study, the per capita spending on home desktop computers and notebook computers increased by 19.4% and 79.6% respectively in the first half of the year.

According to the Report on Economic War and Epidemic in 2020 yards jointly released by Tsinghua University China Economic and Social Research Center and Tencent Social Research Center, in the economic recovery, leisure, entertainment, restaurants, hotels and transportation rebounded most significantly, and the number of WeChat transactions increased by 7-10 times. In the last week of April, the average daily commercial transaction volume of WeChat payment has recovered to the level of the end of 2019. The report believes that the innovation of online mode under the WeChat ecosystem will further promote the upgrading of people’s lifestyles, and the depth and breadth of lifestyle online will enter a new stage, and scene, intelligence and personalization will become the development trend of lifestyle change.

Fu Yifu, a senior researcher at Suning Financial Research Institute, analyzed that in the first quarter, affected by the COVID-19 epidemic, the all-round rise of online consumption was the biggest highlight. In the second quarter, as the domestic epidemic prevention and control situation continued to improve, all walks of life resumed production and markets steadily, and the intensity of new kinetic energy for online consumption did not decrease. At the same time, offline consumption scenes such as scenic spots, restaurants and hotels also returned to the public’s field of vision, and many consumers’ consumer demand that was forced to postpone during the epidemic prevention and control period began to restart.

Zhao Ping, director of the International Trade Research Department of the China Council for the Promotion of International Trade, believes that the epidemic has further enhanced consumers’ online consumption habits, and the growth rate and proportion of online consumption have continued to increase, which has become the biggest highlight of consumption growth in the first half of the year. At the same time, online consumption has also spawned new consumption patterns such as community e-commerce, social e-commerce, community e-commerce and live delivery, thus effectively releasing the potential of online consumption.

Tamp the economic pressure resistance.

Weigh, a researcher at the Institute of World Economics of Shanghai Academy of Social Sciences, pointed out in an interview with this reporter that both the "six stability" work and the "six guarantees" task will ultimately be supported by strong consumption power. Since the beginning of this year, in the face of the great test brought by the COVID-19 epidemic, China has scientifically handled the relationship between the prevention and control of normalized epidemic and economic and social development, especially by adjusting the consumption pattern in time and effectively meeting the rigid consumption demand, thus achieving the maximum risk hedging and economic stability.

"In the process of gradually forming a new development pattern with domestic big circulation as the main body and domestic and international double circulation promoting each other, consumption is an important connection point of domestic and foreign market players and plays a very important role. Judging from the actual situation in the first half of the year, the rebound of consumer demand in China has not only become an important supporting force for China’s economy to resist all kinds of risks, but also injected strong confidence into the world economy. In the future, the role of consumption will be further highlighted. " Weighing theory.

In the eyes of many analysts, consumption is a clear manifestation of China’s economic resistance to pressure in the first half of the year. Yu Hong, a senior researcher at the Institute of East Asian Studies at the National University of Singapore, believes that China has a huge domestic market and a vibrant regional economy. In addition, the government has launched targeted fiscal, taxation and financial measures to support enterprises, which plays an important role in restoring economic growth and shows the resilience and potential of China’s economy.

Xing Ziqiang, chief economist of Morgan Stanley China, said that compared with developed countries, China’s consumption structure is currently dominated by physical consumption. In the future, as residents gradually pursue high-quality life, their consumption focus will shift from meeting basic needs to increasing life experience, and their consumption structure will also shift to service consumption. Xing Ziqiang predicts that consumption will gradually recover in the second half of this year and become the mainstay of economic growth next year, driving economic growth back to its potential level. (Reporter Wang Junling)

　　Evening News (Reporter Yan Li) For children who have not yet entered adolescence, precocious puberty is not a good thing, so many parents are concerned about it. Huang Le, chief physician of endocrinology department of Tianjin Children’s Hospital, suggested that the appearance of precocious puberty will not only hinder children’s growth and development, but also affect their physical and mental health.

　　A sign of precocious puberty

　　The precocious puberty signals of boys and girls are very different. Generally speaking, girls develop puberty before the age of 8 or boys before the age of 9, which can be preliminarily judged as precocious puberty. If a girl has breast enlargement, pubic hair growth, armpit hair growth, vaginal discharge increase before the age of 8 or menstruation before the age of 10, parents should pay attention to any of these changes, which is the signal of precocious puberty of girls. Before the age of 9, if boys have testicles and penises growing up, scrotal skin folds increase and the color deepens, penile erection increases, and even some boys produce semen, these are all signs of precocious puberty in boys.

　　In addition, children’s precocious puberty has several characteristics, such as sudden increase in height, obvious development in a short time, and may have symptoms such as headache, vomiting and blurred vision. If children who have not entered adolescence have the above phenomenon, parents should also pay attention to it in time.

　　The harm of precocious puberty

　　The most obvious harm of precocious puberty is that it may affect the height of children. Adolescence is the fastest stage of children’s growth and development. If children have precocious puberty before puberty, it may affect their height development. Clinical cases show that some children with precocious puberty will greatly slow down their growth rate and their height will be shorter than that of normal children.

　　Secondly, precocious puberty will affect children’s mental health, and children with precocious puberty may have some physical differences with children of the same age, which will have an impact on children’s psychology.

　　Furthermore, precocious puberty may affect the development of children’s reproductive system. With the continuous improvement of people’s living standards and the improvement of dietary nutrition, children’s sexual development is now relatively advanced, so parents need to pay more attention to this aspect. In addition, the causes of children’s precocious puberty are complicated and influenced by many factors such as heredity, diet and environment, so it is more necessary to seek medical treatment as soon as possible, otherwise it is likely to affect the child’s future development.

　　Prevention of precocious puberty

　　In order to avoid precocious puberty, parents can adjust their children from the aspects of diet, exercise and sleep.

　　Parents should pay attention to balance their children’s diet, and don’t have to deliberately emphasize fineness. It’s best to eat coarse grains and flour and rice in a balanced way. The doctor suggested that children should eat less snacks and eat some fruits in addition to the normal three meals a day, but they should not delay the dinner. Parents should drive their children to exercise moderately. Doctors suggest that when the weather is fine, parents should take their children outdoors for at least one hour at a time. Parents should urge their children to get enough sleep every day and try to sleep around 21 o’clock. Children generally need 10 to 12 hours of sleep every day, and at least 9 to 10 hours of quality sleep should be guaranteed.

　　In addition, doctors remind parents that if children are found to have precocious puberty, they should go to regular hospitals in time, be tested by scientific diagnostic methods such as hormone level, B-ultrasound and CT, and be treated according to the doctor’s advice.

Only after handing over the best mid-year report in history, BYD (002594.SZ) immediately encountered the test of investor confidence by Buffett’s reduction.

Since 2022, BYD’s various businesses have generally been "opened". In terms of new energy vehicles, sales exceeded 100,000 vehicles for five consecutive months, and surpassed Tesla to top the global sales in the first half of 2022. At the same time, the installed capacity of power batteries has steadily increased. In May, it surpassed LG in the installed capacity ranking of global power battery enterprises and became the second in the world.

Under the blessing of two ace businesses and high market valuation, BYD ushered in an unexpected but unexpected Davis double click — — On June 10th, BYD’s total market value successfully exceeded one trillion, becoming the first domestic automobile brand with a market value exceeding one trillion.

But there were Ning Wang and Tesla before, followed by Wei Xiaoli. Can the trillion "Diwang" take the lead in the increasingly white-hot global new energy vehicle war and bring more imagination beyond the valuation of nearly 300 times?

Berkshire’s answer now seems to be no: for the first time in 14 years, it reduced its holdings by more than 6 million shares. There are still 219 million shares in hand, will the market outlook continue to cash out? This makes the market quite a bit floating.

Go back to the basic disk. BYD has been building its own winning weapon for many years — — The industrial chain layout and vertically integrated business structure have made it frequently criticized, and now it is highly respected and has become "the only company that has completely withstood the blockade, chip shortage and rising raw material prices".

After the profit turning point, whether BYD’s whole industrial chain layout can escort and promote its sustained high growth, and how unique industrial ecological landscape will be generated, this paper will deconstruct and analyze its two main businesses, new energy vehicles and power batteries, and find out.

The full text is long, mainly from the following aspects:

New energy vehicle business

1.1 Upstream chip: self-core-made, and it has become the power semiconductor faucet of domestic vehicle specifications.

1.2 Mid-stream auto parts: Can the "Foday System" be both internal and external?

1.3 intelligent mid-stream vehicles: self-research capability needs to be improved.

1.4 Downstream production base: The layout quantity is relatively advanced.

Second, the power battery business

2.1 upstream lithium ore and raw materials: self-production and equity participation.

2.2 Battery technology and key equipment are independently developed.

2.3 layout power battery recycling, trying to solve the demand for raw materials.

2.4 The production capacity continued to expand, adding multiple production bases.

I. New energy vehicle business

Cars are undoubtedly BYD’s most profitable business segment.

In the first half of 2022, BYD sold 646,400 vehicles, up 162.03% year-on-year, of which 638,200 were new energy passenger vehicles, up 324.84% year-on-year, and the domestic market share reached 24.7%, up over 7.5 percentage points from 2021.

In terms of revenue, in the first half of 2022, the proportion of automobiles, related products and other products in total revenue increased from 52.20% in the first half of 2021 to 72.55% in the first half of 2022, achieving revenue of 109.267 billion yuan, a year-on-year increase of 130.31%.

In terms of profit, BYD ended the situation of increasing income without increasing profit. In the first half of the year, it realized a net profit of 3.029 billion yuan, a year-on-year increase of 721.72%.

"BYD has a high configuration and a low price, so it sells well. After its market share is stable, it will gradually raise prices and its profitability will improve." A new energy fund manager said that the complete industrial chain layout has also promoted BYD’s profitability.

Wang Chuanfu once said that foreign suppliers despises new independent brands and can only rely on themselves at first. It is both a challenge and an opportunity. It is from the initial forced "self-production and self-supply" that BYD has stepped forward to the present.

1.1 Upstream chip: self-core-made, and it has become the power semiconductor faucet of domestic vehicle specifications.

In 2002, BYD set up the integrated circuit design department, which started almost simultaneously with its plan to build cars and batteries. In 2004, IT officially entered the field of microelectronics and optoelectronics in the IT industry, and BYD Microelectronics was established, which was later BYD Semiconductor. Recently, BYD Semiconductor has submitted a prospectus to Shenzhen Stock Exchange, intending to be listed on GEM.

BYD has been developing its own chips for 20 years, and now it has become the largest power semiconductor IDM enterprise in China. According to BYD Semiconductor’s prospectus, the company’s main business is divided into five sectors: power semiconductor, intelligent control IC, intelligent sensor, photoelectric semiconductor, manufacturing and service, and the revenue in 2021 accounts for 43.22%, 13.46%, 19.25%, 18.69% and 5.38% respectively.

Among them, the power semiconductor business with the largest proportion of revenue mainly adopts IDM business model, and has formed a complete industrial chain including chip design, wafer manufacturing, module packaging and testing, and system-level application testing. The products mainly include IGBT chips, FRD chips, IGBT modules, IGBT single tubes, IPM modules, SiC modules, etc., which are applied to new energy vehicles and other fields.

BYD Semiconductor has set up an IGBT R&D team since 2005. IGBT can convert direct current into alternating current, which is an indispensable device for new energy vehicles. At present, the company’s vehicle-class IGBT module has matched BYD’s new energy vehicles, and the total shipment volume ranks first in China, breaking the monopoly of overseas manufacturers.

At the same time, BYD Semiconductor is also the first power semiconductor enterprise in the world and the only one in China to realize the large-scale loading of SiC three-phase full-bridge modules in motor drive controllers of new energy vehicles. It has broken through technical problems such as high-temperature packaging materials, long-life interconnection design, high heat dissipation design and vehicle regulation level verification, and realized the large-scale application of SiC modules in high-end models of new energy vehicles.

Intelligent control IC products include MCU chip, power IC and BMSAFE chip. At present, Fabless business model is mainly adopted.

In the field of vehicle regulation MCU, BYD Semiconductor is also the first echelon in China. The company’s car-level 8-bit MCU chip has been mass-produced since 2018, and is mainly used in automotive electronic control scenes such as car lights and car buttons; The 32-bit MCU chip of vehicle regulation level is designed according to the requirements of ISO26262 safety level standard, and it integrates various communication modules, which can be applied to automotive electronic control scenes such as electric windows, electric seats, wipers, lights and instruments.

Wang Chuanfu once said that the electrification of automobiles has brought about great changes that have never happened in a hundred years, and the industrial supply chain system is bound to be reconstructed. "In the field of semiconductors, the demand for semiconductors in electric vehicles is 5-10 times higher than that in traditional vehicles. Electric cars are in the first half, smart cars are in the second half, and smart cars have greater demand for semiconductors. "

However, there are only a handful of car companies that make their own chips. After all, the research and development cycle is long and the investment is large, which is not cost-effective, especially the IDM model with heavy asset investment.

In the tide of core shortage that swept the world in the past two years, automobile chips were in the most shortage, especially the power semiconductor of automobile gauge and MCU in vehicle. The advantages of BYD’s self-made chips were fully reflected.

Can BYD Semiconductor supply in bulk to other car manufacturers in the future? At present, in addition to supplying BYD Group, its vehicle-grade power semiconductor products have entered the supply systems of manufacturers such as Xiaokang Automobile, Yutong Automobile, Foton Motor, Ruiling, Beijing Times, Invigorate, Blue Ocean Huateng and Huichuan Technology, but in 2021, the revenue from BYD Group still accounted for more than 60%.

1.2 Mid-stream auto parts: Can the "Foday System" be both internal and external?

"BYD’s overall supply chain was relatively weak during the epidemic. Some core components were done by its own business department, and the control of the supply chain was relatively in place." A new energy analyst of a brokerage recently said in an interview with CBN.

In March 2022, BYD launched an independent Foday brand and officially announced the establishment of Foday Company. The company has operational autonomy and the core components of new energy are sold to the outside world.

According to Wang Chuanfu, as a sub-brand of BYD, Foday Department is a complete auto parts supporting system, which is an inevitable choice for BYD after years of vertical integration. After the split, it will be priced according to the market-oriented mechanism to form a profit center.

On the one hand, Foday Company guarantees the safety of BYD’s industrial chain, on the other hand, it can broaden the company’s growth space through external supply, which is expected to open a second growth curve in the field of auto parts.

Up to now, BYD has five auto parts companies: Foday Mould, Foday Power, Foday Battery, Foday Technology and Foday Vision, and through these five companies, it has realized self-supply in the fields of power battery, electric drive system, electric vehicle platform, thermal management system, lighting system and battery management system.

In terms of batteries, since 2020, Foday Battery has established a number of "Foday Department" battery companies.

From Bengbu Fudi Battery Co., Ltd. in 2020 to Wuwei, Yancheng, Jinan, Shaoxing, Chuzhou, Fuzhou Fudi Battery Co., Ltd. and Chongqing Fudi Battery Research Institute Co., Ltd. in 2021, and then to Xiangyang, Taizhou, Nanning, and Guangxi Fudi Battery Co., Ltd. in 2022, the total number is more than ten.

In February 2022, the power battery project of FAW Fudi New Energy Technology Co., Ltd., which was jointly registered by China FAW Group and BYD, officially started. With a total investment of 13.5 billion yuan, the project can meet the configuration requirements of 600,000 electric vehicles every year after it is completed and put into operation, and realize an annual output value of more than 20 billion yuan.

In terms of electric drive, in March 2022, Skyworth Motor released the Skyworth HT-i model. Some insiders said that the Skyworth HT-i model adopted the HT-i system developed by Foday Power and Skyworth, and the HT-i system was tailored for Skyworth Motor.

As early as 2019, BYD released the "BYD New Energy Vehicle Parts Selection Manual", which externally supplied core components such as powertrain, motor, electronic control and power supply.

1.3 intelligent mid-stream vehicles: self-research capability needs to be improved.

BYD, which started from the traditional manufacturing industry, did not have the conditions to impact the high-end in the era of fuel vehicles. With the advent of the intelligent era, BYD’s self-research and foreign cooperation were driven by both, and it got the tickets for the second half in advance.

Yang Dongsheng, vice president of BYD and president of Product Planning and Automotive New Technology Research Institute, once said that the core of automotive intelligence lies in the intelligent cockpit. After three years of development, BYD’s DiLink system applied to the intelligent cockpit has launched version 4.0 in 2021.

Previously, in the second half of 2020, BYD Intelligent Networking Center also released DiPilot, an advanced intelligent driving assistance system for automobiles, for the first time, which includes DiDAS intelligent assistance technology and DiTrainer coaching mode.

At present, BYD’s main subsidiary, Foday Technology, is engaged in research related to intelligent cockpit, ADAS and vehicle networking. The specific products include multimedia systems, blind spot monitoring systems, automatic parking, panoramic images and intelligent forward-looking. At the same time, Foday Seiko has relevant layout in smart car, and its specific products are lighting combination headlights and rear lights, rearview mirrors, indoor and outdoor photo lamps, etc. In addition, the Automotive Smart Ecology Research Institute is engaged in the research and development of open smart car platforms, smart customer relationships and smart car applications.

However, compared with electrification, BYD’s intelligent self-research ability needs to be improved.

"It is difficult for BYD to make breakthroughs in intelligent driving and software systems. Now it is basically the world of Huawei and several foreign players." The above fund manager said. There are even more extreme voices saying that BYD’s shortcomings in the direction of intelligence are as obvious as its advantages in electrification.

Among them, hardware configuration and OTA (over-the-air download technology) are the main gaps between BYD and the new car-making forces.

The Qualcomm Snapdragon SM6350 chip used in BYD DiLink 4.0 platform is a mid-to high-end processor, while the mainstream cockpit chips of Tucki P5, Weilai ET7 and ET5 all use Qualcomm Snapdragon SA8155P chip. SA8155P chip is the top-level chip in Qualcomm, and it is in the first echelon in the automotive chip industry. At the same time, BYD has also faced problems such as upgrade trouble and poor user experience in OTA.

Judging from the layout of BYD’s R&D, it seems that the company really prefers electrification. In 2021, BYD’s R&D investment reached 10.63 billion yuan, a year-on-year increase of 24.20%. The projects involved mainly included blade battery technology, energy storage products (BMS-active) and DM-i super hybrid.

How will BYD handle itself in terms of intelligence?

At the same time of self-research, BYD chose to strengthen cooperation with the outside world in an effort to make up for the shortcomings of the industrial chain.

In 2018, BYD and Baidu Apollo signed cooperation agreements related to new energy vehicles, driverless technology and vehicle asset sharing operations.

In 2019, BYD signed a strategic cooperation agreement with Huawei, and BYD Han was equipped with Huawei HiCar；; In March 2021, the company strategically invested in Horizon, an automotive smart chip enterprise; In November 2021, Momenta, a company related to autopilot software, established a joint venture company "Dipai Zhixing" for high-level autopilot layout; In December 2021, it reached a strategic cooperation agreement with sagitar Juchuang (mainly engaged in intelligent lidar system), and officially led sagitar Juchuang in February 2022. In February 2022, Baidu was selected as the supplier of intelligent driving system; In March of the same year, it reached a cooperation with NVIDIA, and it is planned to install NVIDIA DRIVEHyperion platform on some vehicles in the first half of 2023 to realize a higher level of intelligent driving function.

1.4 Downstream production base: the layout quantity is relatively advanced.

In April 2022, when the epidemic was serious, BYD’s pure electric and plug-in hybrid products were ranked first in the sales of passenger car brands.

The reason why BYD’s sales volume can ride the dust, in addition to the materials needed for self-supply, the widely distributed production base also contributed.

Compared with enterprises such as Weilai, Ideality and Tesla, which have only one production base in China, BYD has built four automobile production bases in Shenzhen, Xi ‘an, Changsha and Changzhou. In June 2022, the first complete vehicle Qin PLUSDM-i of BYD Hefei Base Phase I was successfully rolled off the assembly line, and five other factories, including Fuzhou, were under construction. This means that once there is an emergency, BYD can minimize the risk of downtime.

According to the data of China Investment Network, as of May 2022, BYD’s annual production capacity has reached 1.3 million vehicles, and it is expected to reach 3.4 million vehicles in 2022. With the steady implementation of mass production plans of some factories, the vehicle production capacity will reach 4.05 million vehicles in 2023, and the scale effect will be further revealed.

It is reported that at present, BYD’s four bases in Jinan, Hefei, Zhengzhou and Shenshan all adopt the mode of "parts+whole vehicle", which can predict in advance to reduce the accumulation of parts and spare parts and reduce the stocking cost as much as possible.

Second, the power battery business

The struggle between Ferrous lithium phosphate and Sanyuan never stopped. Wang Chuanfu, who has worked with batteries for decades, insists that BYD can only find a way out in China and the world if it is Ferrous lithium phosphate. Despite the twists and turns, BYD finally won back the main battlefield of lithium iron phosphate battery with its high-performance blade battery.

According to the data of China Automotive Power Battery Industry Innovation Alliance, with the accelerated loading of blade batteries, the installed capacity of BYD power batteries increased from 16.2% in 2021 to 22.25% in the first seven months of 2022.

However, the financial report shows that in 2021, BYD’s secondary charging and photovoltaic business (including power battery business) achieved revenue of 16.471 billion yuan, a year-on-year increase of 36.72%; The gross profit margin was 11.94%, down 8.22 percentage points year-on-year.

To say who is holding back the profitability of power batteries, the high probability is the lithium mine whose price is "constantly rising". BYD’s power battery business has undoubtedly faced the challenge of high raw material prices since 2021. In fact, in order to stabilize the supply chain and control the battery cost, BYD has been trying to enter the upstream lithium mine field in recent years, and at the same time, it has intensified its efforts to lay out the middle-stream lithium battery equipment, downstream power battery recycling and other businesses.

2.1 upstream lithium ore and raw materials: self-production and equity participation.

In March, 2022, Wang Chuanfu said at the committee of 100 Forum on Electric Vehicles in China that the soaring price of battery raw materials was a challenge that the industry needed to overcome. He suggested that the layout and production capacity of lithium carbonate resources should be comprehensively sorted out, the domestic mining volume and foreign imports should be increased, and the price expectation should be stabilized.

BYD mainly arranges lithium resources by investing in lithium resource enterprises, establishing joint ventures with lithium resource enterprises, and directly purchasing lithium mine mining rights.

As early as 2010, BYD invested about 200 million yuan to acquire an 18% stake in Zabuye High-tech Lithium Industry Co., Ltd. in Shigatse, Tibet. According to the data, Zabuye High-tech Lithium Industry is a holding subsidiary of Tibet Mining and has the exclusive mining right of Zabuye Salt Lake for 20 years. The salt lake is the third largest lithium mine salt lake in the world and the largest in Asia, with proven lithium reserves of 1.841 million tons.

Since 2022, the company’s lithium resource layout has been more intensive. In January, BYD won the bid of $61 million for the Chilean lithium mine, but unfortunately the project was stopped by the local court; In March, it is planned to invest 3 billion yuan in Shengxin Lithium Energy. In April 2022, the company signed an agreement with Yinhe Lithium Industry to purchase 60,000 tons of lithium concentrate every year. At the same time, the planned new 60,000-ton lithium salt project in Indonesia is expected to be put into production in 2023. At the end of March, BYD Auto Industry, a subsidiary, invested 6 million yuan and held 30% of the shares, and set up a mining company with Sichuan Luqiao, aiming at developing Sichuan lithium mine resources; In May, it was reported that BYD had found six lithium mines in Africa, all of which had reached the acquisition intention. The output of lithium carbonate in these six lithium mines is reported to reach 1 million tons, which can cover the company’s raw material demand in the next decade.

As for cathode materials, BYD, as an enterprise specializing in lithium iron phosphate batteries, can imagine the demand for Ferrous lithium phosphate. Therefore, on the basis of self-research and self-production, the company also guarantees the supply through the mode of foreign equity participation.

In 2019, the Ecological Environment Bureau of Haidong City, Qinghai Province issued a public notice of environmental impact assessment, and accepted the construction project of Ferrous lithium phosphate with an annual output of 20,000 tons of Qinghai BYD Industrial Co., Ltd., with a total investment of 710 million yuan.

In July 2022, Anda Technology announced that BYD spent 30 million yuan to subscribe for the company’s directional issuance of shares, with a shareholding ratio of 2.11%. In addition, BYD also took a stake in Hunan Yuneng, another leading anode manufacturer in Ferrous lithium phosphate, with a shareholding ratio of 5.27%.

In addition to lithium ore and cathode materials, the company’s annual report revealed that a series of related businesses such as battery aluminum foil, aluminum-plastic film, separator and electrolyte additives were also laid out in the field of power batteries, and the upstream and downstream industries were continuously strengthened.

In 2021, North China Aluminum Company established a battery aluminum foil company, which attracted many battery companies to become shareholders, of which BYD held 2.97%.

Zijiang New Materials is one of the leading enterprises in the domestic aluminum-plastic film industry. In the second half of 2021, strategic investors such as BYD were introduced through capital increase and share expansion, and BYD directly held 3.87% of the shares. At the same time, BYD was the largest customer of Zijiang New Materials.

BYD’s diaphragm layout started as early as 2009, when the company and Foshan Plastic Group Co., Ltd. jointly expanded the lithium-ion battery diaphragm project with a total investment of about 105 million yuan. By August, 2016, BYD’s power battery separator has been partially produced.

In terms of electrolyte additives, in February 2021, BYD took a stake in Huasheng Lithium Battery, which had just been IPO, and held 1.98% of the shares.

2.2 Battery technology and key equipment are independently developed.

Insisting on being long and thin is the development direction of BYD’s battery technology.

The company’s main product, the blade battery, adopts the Ferrous lithium phosphate scheme of long battery cells, flattens the battery cells, and uses the module-free technology to form a battery pack, so that the utilization rate of the internal space is increased to about 60%, and the cost can be reduced by about 25%.

According to TF Securities, in November 2021, Foday battery ranked second in the domestic market share of power battery cells. Foday battery joint venture FAW Foday New Energy Technology Co., Ltd. is mainly engaged in the manufacturing of core components such as new energy batteries, modules and related supporting industries. After the factory is fully put into production, the annual production capacity of power battery can reach 45GWh, which will provide long-life blade batteries for more than 1 million vehicles.

Because the shape of the blade battery is different from that of the traditional power battery, the ready-made standard equipment can’t be used directly. BYD takes advantage of being a "tech man" and the equipment for key processes is developed by itself.

For example, the lamination process adopts the equipment and cutting scheme independently developed by BYD. The pole piece with a length of nearly 1 meter can achieve the accuracy and speed of tolerance control within ±0.3mm and single lamination efficiency of 0.3s/pcs, which is the first in the world. At the same time, self-developed equipment and systems are also used in the assembly and liquid injection.

2.3 layout power battery recycling, trying to solve the demand for raw materials.

In September 2015, BYD and GEM jointly established a recycling system of "material recycling-battery recycling-new energy vehicle manufacturing-power battery recycling". In January 2018, BYD signed a strategic partnership agreement with Tower Company for recycling new energy power batteries. At present, BYD has set up more than 40 power battery recycling service outlets in more than 10 provinces and cities.

In addition to solving the urgent demand for raw materials and reducing the cost of raw materials, another significance of the power battery recycling business is that it may open up a new growth curve for BYD.

Judging from the performance of battery recycling leaders GEM and Tianqi, in 2021, GEM’s power battery recycling business achieved revenue of 151 million yuan, a year-on-year increase of 61.63%; Jiangxi Tianqi Jintaige Cobalt Co., Ltd., the core subsidiary of Tianqi’s lithium battery recycling business, achieved an operating income of 988 million yuan in 2021, a year-on-year increase of 52%; The net profit of returning to the mother was 224 million yuan, a year-on-year increase of 622.58%.

According to the data, the business scope of Taizhou Fudi Battery Co., Ltd., a subsidiary of Fudi Power, includes battery manufacturing and sales, recycling and cascade utilization of waste power batteries in new energy vehicles, and research and development of new materials and technologies. At present, the company is indirectly wholly-owned by BYD Co., Ltd.

2.4 The production capacity continued to expand, adding multiple production bases.

"In 2021, the bottleneck of battery capacity had a certain impact on the mass production of the whole vehicle. With the production capacity of the battery base in 2022, the automobile production capacity will also increase. In April, the proportion of BYD’s loading on the battery side has reached 32.18%, and the gap with Contemporary Amperex Technology Co., Limited is gradually narrowing." The above analyst said.

Since 2021, BYD has successively expanded eight battery production bases in Jinan, Shandong, Wuwei, Anhui, Yancheng, Jiangsu, Wuhan, Hubei, Shaoxing, Zhejiang, Ningbo, Chuzhou, Anhui and Fuzhou, Jiangxi, with a total new production capacity of 205GWh. In 2022, bases in Xiangyang, Hubei and Changchun, Jilin were successively opened, and two base projects in Taizhou, Zhejiang and Nanning, Guangxi were signed.

In terms of production capacity, BYD plans to have a production capacity of 135GWh in 2021 and an available production capacity of 80GWh；; In 2022, the planned production capacity is 285GWh, and the available production capacity exceeds 200GWh；; By 2023, the planned production capacity will exceed 500GWh, and the available production capacity will exceed 350GWh.

The expansion of production capacity has also accelerated the process of BYD’s battery supply.

In 2018, BYD Power Battery only had two commercial vehicle customers, Taikai Automobile and Xugong Machinery. In 2019, the external supply of passenger cars was opened, and Changan Automobile, FAW and Changan Ford became new customers.

After BYD launched the blade battery in March 2020, it attracted more car companies to discuss cooperation.

In 2021, the external supply ratio of BYD power battery is about 10%. From the perspective of specific customers, FAW is the first third-party passenger car enterprise to adopt blade batteries, and BYD power batteries account for 25% of its total installed capacity; Dongfeng, Changan and BAIC use ternary batteries, and BYD’s supply accounts for 6%, 4% and 0.1% respectively.

Cinda Securities believes that with the increase of the acceptance of Ferrous lithium phosphate route, the external supply business is expected to usher in a substantial breakthrough, and the power battery business may become another important growth pole of the comparable automobile business.

Third, the conclusion

From about 60 yuan/share in June 2020 to a high of 358.86 yuan/share in June 2022, BYD’s share price has nearly tripled in just two years, which is supported by performance and the result of high valuation given by the market.

It can’t be denied that BYD seems to have opened up the second vein of Ren Du in the past two years, and the vertical integration layout that has been painstakingly managed for many years has soared to generate, resulting in great synergy, forming a virtuous circle of the whole industrial chain of new energy vehicles and constantly gaining positive feedback.

But after the market value once broke through one trillion, where is BYD’s next stop?

There were many optimists. Head brokers use the segment valuation method and think that the company’s reasonable value is 1.4 trillion yuan; There is also a view that new energy vehicles will be not only a means of transportation in the future, but also the next generation of intelligent terminals. If the new energy vehicle industry will produce a company with a market value of 2 to 3 times that of Apple’s stock, the market value of BYD may be trillions of dollars against Tesla.

Real money traders are obviously more rational. The latest market value of BYD’s A-shares has dropped to around 850 billion yuan, and the news that the stock god has reduced its holdings may further return it.

Charles Munger once said, "Wang Chuanfu knows what he can do and what he can’t do, while Musk thinks he can do anything. I prefer to choose those who have self-knowledge. " This is a high evaluation, but obviously, this does not affect Berkshire’s reduction of cash BYD, at the time he thinks it is appropriate.

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This article does not constitute any investment advice, and investors should act accordingly at their own risk. The market is risky and investment needs to be cautious.

　　Xinhua News Agency, Beijing, February 3rd Title: Abuse of "long arm jurisdiction" has made the world bitter and beautiful for a long time.

　　Xinhua News Agency reporter Fan Yu

　　The "long-arm jurisdiction" of the United States has existed for a long time, and its means are constantly being refurbished, but its essence is always a tool to safeguard American hegemony. The stick of sanctions has become more and more fierce, and the "arm" has become longer and longer. This arbitrary judicial practice of "extraterritorial jurisdiction" on entities and individuals in other countries has caused great harm to the world.

　　"Long-arm jurisdiction" was originally used to deal with the interstate jurisdiction of the United States, and later gradually evolved into a big weapon in the American bullying toolbox. The United States is constantly strengthening its legislation in an attempt to put on a "legitimate" coat for "long-arm jurisdiction", which not only involves a variety of legal names, but also lowers its application threshold to expand its discretion. At the same time, the United States has also established a "long-arm jurisdiction" implementation system with multi-sectoral division of labor and cooperation. The State Council, the Ministry of Finance, the Ministry of Commerce and other departments in the United States perform their respective duties and cooperate with each other, and are endowed with law enforcement powers such as freezing assets, drawing up a list of sanctioned individuals and entities, and examining and issuing licenses. In addition, the US government also provides support for the enforcement of economic sanctions by controlling the two cross-border fund payment and settlement systems, SWIFT and CHIPS.

　　On July 4, 2022, in front of the US Embassy in Zimbabwe, Harare, Zimbabwe, members of Zimbabwe’s "Alliance Against Sanctions" held placards to oppose the long-term economic sanctions imposed on Zimbabwe by the United States and its Western allies. Xinhua News Agency (photo by Tafara Muguala)

　　According to the report of the US Treasury Department, by the end of fiscal year 2021, the United States has imposed more than 9,400 sanctions. Its number and variety are shocking. Ali Laidi, a researcher at the French Institute of International Relations and Strategy, pointedly pointed out in the book "The Secret War" that the United States openly exerts pressure on any country through "long-arm jurisdiction", whether it is an ally or an enemy, and it is completely "absolute monarch".

　　The United States abused "long arm jurisdiction" and attacked the multilateral international order. The United States frequently implements unilateral sanctions outside the framework of the United Nations. In 2021 alone, the US Department of Finance, the Ministry of Commerce and other departments imposed various sanctions on more than 2,000 entities. As a result, the sanctions function of the Security Council has been impacted, seriously affecting its normal operation of maintaining international peace and security. Ignoring its "301" measures, the United States has been ruled by the Dispute Settlement Body of the World Trade Organization as a violation of international law. It continues to launch various unilateral "301 investigations" on imported products from China and other countries, and maintains the existing "301" tariff measures, undermining the tariff concessions achieved by the multilateral trading system after several rounds of difficult negotiations, flagrantly trampling on the purpose and spirit of the multilateral trading system and damaging the cornerstone of its operation.

　　The abuse of "long arm jurisdiction" by the United States poses a serious threat to the economic sovereignty of other countries. So far, American "long arm jurisdiction" has involved China, Russian, Iranian, Syrian, North Korea, Cuba and other countries. Even during the global spread of the COVID-19 epidemic, the U.S. government stubbornly insisted on imposing unilateral sanctions on Iran, Syria and other countries, which made it difficult for the sanctioned countries to obtain medical supplies needed to fight the epidemic in time. The United States even spared its allies, and many enterprises in France, Britain, Germany, Japan and other countries became "meals on the plate" under its "long arm jurisdiction". The stories of victims such as Deutsche Bank and Alstom in France were widely circulated in the global industry. The French "Echo" pointed out that "long arm jurisdiction" has become a weapon in the American economic war.

　　This is the capitol in Washington, DC, on January 19th. Xinhua News Agency (photo by Shen Ting)　

　　The abuse of "long arm jurisdiction" by the United States interferes with the international trade order, undermines the normal supply chain of global trade, and harms the interests of enterprises in other countries. As long as the entity behavior has the so-called "minimum contact" with the United States, the "long arm" may arrive at any time. With the "long arm" of the United States stretched out indiscriminately, European companies such as Germany, France and Italy were fined or dealt a fatal blow. In order to hunt down competitive enterprises, the "long arm jurisdiction" of the United States has been increased layer by layer, expanding from the United States to the global scope, and extending from American goods to goods produced by American technology and equipment. Such interference in international business transactions and competition completely deviates from its long-term self-proclaimed liberal market economy concept.

　　The United States is abusing its "long arm jurisdiction" and is eating itself back. In order to counter the "long arm" of the United States, some countries, while perfecting their own laws, also launched a counterattack against the United States on multilateral occasions. In 1996, the European Union passed the Blocking Act, which blocked the effect of American "long arm jurisdiction" measures in the EU by legislation. In addition, the EU has put forward proposals and initiated initiatives in the United Nations General Assembly, the Security Council, the WTO and other international institutions, calling on the international community to pay attention to the dangers of the "long-arm jurisdiction" of the United States. The addiction to sanctions and bullying in the United States have caused increasingly strong dissatisfaction in the international community, and the willfulness of the United States’ "long-arm jurisdiction" will eventually harm others and harm themselves.

　　CCTV News:Renaming, listing and forming a new leadership team … … After the closing of the two sessions of the National People’s Congress in 2018, the newly formed departments of state institutional reform were listed one after another.

　　According to the timetable listed in the Plan for Deepening the Reform of Party and State Institutions, the institutional reform of the central and state organs should be put in place before the end of 2018.

　　On March 23, the State Supervision Commission was officially listed, and later, the Ministry of Agriculture and Rural Affairs, the Ministry of Culture and Tourism, and the State Administration of Immigration have also been officially listed.

　　What do the brands of these national institutions look like (time arrangement of mortgage cards)? Look at the picture to understand

　　the National Supervisory Commission (NSC)

　　On March 23,The National Supervisory Commission (NSC), People’s Republic of ChinaUnveiled.

　　The Politburo Standing Committee (PSC) of the Communist Party of China and Zhao Leji, secretary of the Central Commission for Discipline Inspection, attended the unveiling ceremony and spoke at the meeting of cadres of the State Supervision Commission of the Central Commission for Discipline Inspection. Member the Political Bureau of the Communist Party of China (CPC) Central Committee, Deputy Secretary of the Central Commission for Discipline Inspection and Yang Xiaodu, Director of the National Supervisory Commission presided over the meeting.

　　Zhao Leji:

　　The most important thing of the joint office of the Commission for Discipline Inspection and Supervision is the deep integration of functions, personnel and work, which is the reshaping of "shape" and "spirit". We should firmly grasp the fundamental point of deepening the reform of the state supervision system, adhere to the centralized and unified leadership of the Party over anti-corruption work, perform our duties in accordance with party constitution’s party rules and constitutional laws, adhere to the people-centered value orientation, adhere to the rule of law thinking and the rule of law, adhere to the full coverage of all public officials exercising public power, promote the comprehensive integration and strategic reshaping of the Commission for Discipline Inspection and Supervision, and realize the overall improvement of discipline inspection and supervision work in the new era.

　　National Health Commission (NHS)

　　On March 27, the newly formedPeople’s Republic of China (PRC) National Health and Wellness CommitteeOfficially unveiled. Member the Political Bureau of the Communist Party of China (CPC) Central Committee and Sun Chunlan, Vice Premier of the People’s Republic of China attended the unveiling ceremony and held a working forum.

　　Sun Chunlan:

　　The establishment of the National Health and Wellness Committee is an important decision made by the CPC Central Committee with a view to continuously meeting people’s health needs, which embodies a major change in the concept of health and wellness work. To undertake new missions and show new achievements, new institutions must firmly establish the concept of great health and great health, improve the national health policy, change the focus on treating diseases into the focus on people’s health, and continuously improve people’s health and well-being. It is necessary to put prevention in a more important position, strengthen health education and disease prevention and control, guide the masses to develop healthy living habits, and try to get sick as little as possible.

　　National Immigration Bureau

　　National Immigration Bureau、People’s Republic of China (PRC) Entry-Exit Administration BureauIt was officially listed on April 2. Guo Shengkun, member of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the Central Political and Legal Committee, attended the ceremony and delivered a speech. State Councilor and Minister of Public Security Zhao Kezhi attended.

　　Guo Shengkun:

　　The establishment of the National Immigration Bureau is of great significance for strengthening the Party’s overall leadership over immigration and entry-exit management, further forming a joint force of immigration management, and better serving the new pattern of China’s economic and social development and opening up. It is necessary to adhere to the people-centered principle, strictly manage according to law, and provide civilized and enthusiastic service, so as to provide more convenience for the people and foreigners who come to work and live in China, and make the National Immigration Administration’s "business card for showing China’s good image more shining.

　　Ministry of Agriculture and Rural Affairs

　　On April 3,Ministry of Agriculture and Rural Affairs of the People’s Republic of ChinaOfficially unveiled. Member the Political Bureau of the Communist Party of China (CPC) Central Committee and Hu Chunhua, Vice Premier of the People’s Republic of China attended the unveiling ceremony.

　　Hu Chunhua:

　　The establishment of the Ministry of Agriculture and Rural Affairs is an important decision made by the CPC Central Committee with the overall interests of the Party and the country in mind. Its purpose is to strengthen the Party’s centralized and unified leadership over the work concerning agriculture, rural areas and farmers, adhere to the priority development of agriculture and rural areas, implement the rural revitalization strategy as a whole, promote the all-round upgrading of agriculture, the all-round progress of rural areas and the all-round development of farmers, and accelerate the modernization of agriculture and rural areas.

　　State Grain and Material Reserve Bureau

　　On April 4,State Grain and Material Reserve BureauBe listed and established. State He Lifeng, Party Secretary and Director of the National Development and Reform Commission and Deputy Director Zhang Yong attended the ceremony.

　　State Grain and Material Reserve BureauThe main responsibilities are to organize and implement the purchasing, storage, rotation and management of national strategy and emergency reserve materials according to the overall development plan and variety catalogue of national reserves, be responsible for the construction and management of reserve infrastructure, supervise and inspect the implementation of government reserves, enterprise reserves and reserve policies, and be responsible for the management of grain circulation industry and the administrative management of central reserve grain and cotton.

　　Ministry of Culture and Tourism

　　On April 8,Ministry of Culture and Tourism of People’s Republic of China (PRC)Officially unveiled in Beijing. Member the Political Bureau of the Communist Party of China (CPC) Central Committee and Minister Huang Kunming of Publicity Department of the Communist Party of China attended the unveiling ceremony and held a forum.

　　Huang Kunming:

　　The establishment of the Ministry of Culture and Tourism is an important decision made by the CPC Central Committee with the Supreme Leader as the core and based on the overall situation of the party and the state. It is an important part of deepening the reform of the party and state institutions. It has important practical significance and far-reaching historical significance for strengthening the party’s overall leadership over culture and tourism, promoting the modernization of the governance system and governance capacity in the field of culture and tourism, promoting the integrated development of cultural undertakings, cultural industries and tourism, meeting the needs of the people for a better life, and improving the country’s cultural soft power and the influence of Chinese culture.

　　China Banking and Insurance Regulatory Commission

　　On April 8,China Banking and Insurance Regulatory CommissionOfficially unveiled, Committee member the Political Bureau of the Communist Party of China (CPC) Central Committee and Liu He, Vice Premier of the People’s Republic of China attended the unveiling ceremony.

　　Liu He:

　　The cadres of the Insurance Regulatory Commission of the Bank of China should strive to meet the requirements of "loyalty, professionalism and practicality". "Loyalty" means resolutely safeguarding the authority and centralized and unified leadership of the CPC Central Committee with the Supreme Leader as the core, being loyal to the motherland, the people and their duties, bringing the supervision work into the orbit of the rule of law in an all-round way, establishing a good professional ethics, loving their posts, being diligent and conscientious, and striving to protect the interests of consumers. "Specialization" means advocating professionalism, having sufficient professional knowledge reserves and maintaining a high level of professionalism. "Reality" means understanding the situation realistically, identifying problems accurately, taking practical measures to prevent and resolve risks, seeing actual results, making dedication with the spirit of nailing and solid work style, and being responsible for defending the soil. Tell the truth, do honest things and be honest.

　　▌ Information/China Government Network Map/China Government Network, vision china

　　Cctv news(News Network): According to the latest statistics of the Central Organization Department, by the end of 2022, the total number of members of the Communist Party of China (CPC) was 98.041 million, a net increase of 1.329 million over the previous year. There are 5.065 million grass-roots organizations of the Party, a net increase of 129,000 over the previous year.

　　Party member’s total volume grew steadily. The total number of party member increased by 1.4% over the previous year. In 2001, 2.449 million party member people were newly developed, of which 51.4%, 81.2%, 45.5% and 10.5% were women with college education or above, and 1.288 million party member people were developed in production and work.

　　The team structure in party member has been continuously optimized, and the education management in party member has been further strengthened. Party organizations at all levels continue to do a good job in studying and training the Supreme Leader’s Socialism with Chinese characteristics Thought in the New Era and the Party’s Twentieth Spiritual Congress. A total of 1.284 million training courses were held throughout the year, and Party committees at or above the county level trained 5.101 million secretaries of grass-roots party organizations in rotation.

　

　　A 12-year-old boy in Changchun was blinded by a woman with a sharp knife and pretended to be dead to save his life.

　　Nandu News reporter Li Rong On October 11th last year, a 12-year-old boy Xiao Shuo (a pseudonym) was visiting the grocery store at home in Bao ‘an Village, Xinli Town, yushu city City, Jilin Province, when he was suddenly attacked by Wang (female), a villager in the same village. He was stabbed dozens of times, his eyes were seriously injured, his right eyeball had been removed, and his left eye was completely blind. After the incident was exposed by the media, it attracted the attention of the whole society. The child’s sentence "What time is it, mom? It’s all dark" has also touched the hearts of people all over the country. An eye hospital in Shenzhen provides free assistance to Xiaoshuo’s family. On October 22 last year, Xiao Shuo went to Shenzhen with his family for treatment, and now he has seen the light again.

　　The hospital set up an expert group to repair the appearance of Xiaoshuo’s removed right eye, and at the same time, treated Xiaoshuo’s left eye with integrated Chinese and western medicine to help reduce eyeball pressure, promote blood circulation, prevent infection, diminish inflammation and swelling, improve optic nerve function and antioxidant treatment. After more than two months of persistent treatment, Guangming finally came in quietly: Xiaoshuo saw the colored lights decorated on the Christmas tree in the hospital on December 18th, and could distinguish different colors.

　　"We don’t know how to thank the dean and the hospital staff." Father Zhu Fu said, "I only hope that one day Xiaoshuo will grow up, listen to Dean Lin, study hard and be a useful person to society." When Xiaoshuo was asked about his outlook for the future, he said that he would study hard and hope to be a doctor in the future to help more patients in need.

　　Earlier media reports:

　　A 12-year-old boy was blinded by a woman with a sharp knife when he was alone at home watching the shop.

　　New Culture News (Reporter after reporter) Yesterday, outside the operating room of the Second Hospital of Jida University, a 50-year-old rural woman’s eyes were glazed, her mouth kept reciting the name of her son Xiaoshuo (a pseudonym), occasionally craning her neck and looking at the closed operating room door … …

　　Her name is Wang Yuying, from Group 5, Bao ‘an Village, Xinli Town, yushu city. In the operating room a few steps away, her 12-year-old son is undergoing the second operation.

　　Everything started with the nightmare on the 11th. That morning, she and her husband went out to work, and her 12-year-old son was left in his grocery store to sell goods. Suddenly, he was attacked by Wang, a villager in the same village — — — After Wang knocked Xiaoshuo down with a beer bottle, he took out a sharp knife and stabbed Xiaoshuo’s eyes, chest and abdomen, causing Xiaoshuo’s eyes to be almost blind and his abdomen to penetrate.

　　By playing dead, the alert Xiaoshuo survived and escaped. Wang ignited the grocery store after the murder, and her body was later found, with a pesticide bottle next to it. At present, yushu city Public Security Bureau is investigating the case.

　　After a long wait, the news from the operating room made the family sad and happy. The good news is that Xiao Shuo’s life was temporarily saved after two operations lasting for 16 hours. However, this 12-year-old intelligent boy may never see the light again … …

　　The couple who went out for the autumn harvest received unfortunate news:

　　"A relative called anxiously and said that his son had an accident at home."

　　The husband and wife run a grocery store in the village. In addition, they have farm work to do.

　　At 5 o’clock in the morning on the 11th, just before dawn, Wang Yuying and her husband got up. After breakfast, they packed up and prepared for the autumn harvest. Although there is not much land at home, they can be free as soon as they finish their work.

　　Just about to go out, Wang, a villager from the same village, came to their home. "Whether to want fertilizer money? 1,000 yuan, you can take it! " Wang Yuying took out 1000 yuan money and handed it to Wang. Wang took the money and looked polite. When he left, he also took away some cigarettes they sent.

　　"Son, we went to work. Today, you don’t go to school, rest at home, take good care of the grocery store, and be obedient … …”

　　When she left home, Wang Yuying repeatedly told her 12-year-old son Xiao Shuo, hoping that he would not always play and take care of the grocery store at home.

　　After arriving at the cornfield not far away, the couple began to work. "It took about half an hour. A relative of my family called anxiously and said that my son had an accident at home, his face was covered with blood, and the house was on fire. Hearing this, we put down the phone and ran home … …”

　　Recalling that scene, Wang Yuying had a low voice. The couple saw their son lying at the door, his face covered with blood, his house smoking outwards, flames popping out from time to time, and his home and grocery store were slowly being swallowed up by the fire … …

　　The child recalled the injury intermittently:

　　"I found that as long as I don’t move, she won’t stab me any more … …”

　　Wang Yuying and her husband didn’t care about the burning home, so they quickly picked up the child, found a car and took the child to the hospital in yushu city.

　　My son in my arms is badly hurt, but he is still conscious and groans from time to time … … The journey of more than 10 kilometers is so long at the moment.

　　On the way, he recalled his injury intermittently — — — Shortly after Wang Yuying and her husband left home, Wang, a villager who had just taken away 1000 yuan, came back. She walked into the grocery store and found Xiaoshuo alone in the room. First, she asked Xiaoshuo to bring her a bottle of beer, and then she asked for a bag of peanuts, which Xiaoshuo did.

　　"Bring me another ice cream … …” Upon hearing this, Xiaoshuo went straight to the refrigerator of the grocery store. At this time, Wang suddenly lifted the beer bottle, a bottle knocked Xiaoshuo to the ground, and then took out a sharp knife from his body and stabbed Xiaoshuo’s eyes, chest and abdomen. Xiaoshuo struggled to stop Wang’s murder with his hands, and his tendons were cut by a sharp knife.

　　"I was scared at that time. She stabbed me with a knife. I started to fight with her, but I found that as long as I didn’t move, she wouldn’t stab me any more … …”

　　Xiaoshuo recalled that in order to survive, he began to play dead. After Wang stabbed Xiaoshuo several times, he found that he was no longer moving, so he stopped hurting Xiaoshuo.

　　After a while, the child heard the sound of gas leakage from the kitchen, and had a premonition that there might be more misfortune. Having lost sight of things, he began to grope by feeling and slowly climbed to the door. I don’t know how long it took, but he climbed outside the door. At this time, a fire was burning in the home behind him.

　　"I guess she thought she had stabbed her son to death, and then she came to my kitchen, opened the liquefied gas tank, set the liquefied gas on fire, and burned the whole house … …” Wang Yuying was crying, and her emotions were almost out of control.

　　The attending doctor said that he had done his best:

　　"We can only try our best to save his life … … His eyes have zero vision and are almost blind. "

　　After the child was sent to yushu city Hospital, the doctor said that it was incurable and he had to go to a big hospital in Changchun. Therefore, the family quickly rushed to Changchun with Xiaoshuo, and finally came to the Eye Hospital of the Second Hospital of Jida University.

　　Wang Yuying said: "The child also has injuries, but the eyes are the most important. We hope to cure the child’s eyes first … …”

　　At 1 o’clock in the afternoon on the 11th, they arrived at the Eye Hospital of the Second Hospital of Jida University. At 4 o’clock in the afternoon, the child began to undergo surgery. At 11: 58 that night, Xiaoshuo was pushed out of the operating room.

　　After a long wait of 8 hours, at the moment when Xiaoshuo was pushed out of the operating room, the family quickly gathered around: "How are the children’s eyes, doctor?"

　　Doctor Huang Dafu sighed and said that Xiaoshuo’s eyes were badly hurt, and they had done their best.

　　Dr. Huang said that the optic nerve and four muscles in the fundus of Xiaoshuo’s right eye have been cut off by a knife, and the eyeball is prominent, so there is no possibility of recovery. Therefore, the right eye has been removed. At the same time, Xiaoshuo’s left eye optic nerve was seriously damaged, his vision was zero, and his pupils were dilated. The doctor temporarily restored it to its original state, but it is still impossible to judge what it can be restored after treatment.

　　He said that if it is not infected, the best degree may be to see a glimmer of light; If the infection and recovery are not good, then the left eyeball must also be removed. "From the current situation, the doctor can only try his best to save his life, and the operation is more difficult. As a result, his binocular vision is zero and he is almost blind."

　　What caused this tragedy? The boy’s mother said:

　　"It’s because of a little contracted land that it’s really not … …”

　　Why did Xiao Shuo suffer this accident? Wang Yuying shed tears from time to time. "It’s really not because of a little contracted land. We didn’t care, but people cared, and it hurt my son … …”

　　Wang Yuying introduced that the perpetrator Wang was in his 50 s this year, his hometown was in Heilongjiang, his husband died in his early years, and a son was in the field. After returning to the village alone, he had been living in a friend’s house for a year.

　　"After returning to the village, she and the village had a bit of a land contract dispute. Later, the village contracted the half hectare of land to our family, but she disagreed and has been worried. "

　　In the spring of this year, Wang secretly applied fertilizer to this field in advance, but later, Wang Yuying and her husband still wanted the cultivated land back. "We can’t let people fertilize us in vain. On the morning of the incident, she just came to get fertilizer money. We also gave her a few cigarettes, but no one could think of it. She still couldn’t get around this corner and laid hands on my children!"

　　After stabbing Xiaoshuo and setting fire to the house, Wang ran to the backyard of Wang Yuying’s house and smashed all the window glass of the backyard house. "Later I heard that she ran to my barn and committed suicide by drinking medicine!" Wang Yuying said.

　　For the perpetrator Wang, most villagers are reluctant to mention it. A villager said that after Wang returned to the village, he was not very willing to talk, and there was no excessive behavior at ordinary times. Everyone really couldn’t figure out how she could do such an incomprehensible thing.

　　I have borrowed more than 70,000 yuan to save the children, and all the money and things at home have been burned, and there is not a penny left on me … …

　　The mother hopes that good people can help her son.

　　At 4 o’clock in the morning yesterday, after undergoing binocular surgery, Xiaoshuo was once again sent to the operating room of hand and foot surgery to perform surgery on his injured hands and chest. After another 8 hours of surgery, at 12 noon on the 12th, Xiaoshuo was pushed out of the operating room.

　　The doctor said that the child had a broken tendon in both hands, a penetrating wound in the abdomen and multiple stab wounds in the chest. After the operation, the child is no longer in danger, but it needs to be observed in the ICU ward.

　　"This child has a pair of talking eyes. This time, his eyes were injured, and his big eyes were blind!" When interviewed by new culture reporters, some villagers were very sorry. They said that Xiao Shuo was in the sixth grade in the primary school in his village, and his academic performance was not bad. He was usually obedient and never made his parents angry.

　　"This really shouldn’t happen!" A villager sighed. He recalled that after the incident, Xiaoshuo climbed out of the burning house by himself. After climbing to the door, the child did not cry, but cried "Mom" with heartbreak.

　　At present, more things worry the family: their living conditions are average, including half a hectare of contracted land, and there are seven or eight acres of cultivated land at home. This grocery store is also the main source of income for their family.

　　"My son was injured and admitted to the hospital. Our family has already paid more than 70,000 yuan. All the money was borrowed by relatives and friends. All the money and things at home were burned, and there was no penny on me!" Wang Yuying cried and said, "The world is still so big and beautiful. I hope my son can still see this beautiful world, really … …”