分类： dgftgh

＂The news knew＂ that the latest judgment on the weather on New Year’s Eve came; Summary of opening hours of Hangzhou stadiums during the Spring Festival; A number of courier companies announced that t

Today is Saturday, February 3rd, 2024.
[Weather] Light rain, 4 ~ 6℃
[Restricted] None
[Air quality] Urban AQI:36, air quality grade: excellent.
local
hot spot
(1) fall back to below zero! Hang in there for a few more days! The latest judgment on the weather on New Year’s Eve is coming!
Hang in there, the sunshine will return soon!
② Four docks, such as Wulinmen Wharf, can go up and down for free with the bracelet!
In addition to the special dragon boat, there are also interesting activities such as Dragon Drum Opening Year and Long Lin Sign-in at Wulinmen and Native Products Wharf, with three different seals, which can be exchanged for unique Chinese New Year gifts after completing the stamp collection and punching.
(3) Eighteen literary and art workers in Zhejiang Province were commended.
The Second Commendation Meeting of Young and Middle-aged Writers and Artists in Zhejiang Province was held in Hangzhou.
What are the opening hours of Hangzhou stadiums during the Spring Festival?
Do you have any plans for exercise and fitness during the Chinese New Year?
domestic
international
①Spring Festival travel rush return train tickets are being robbed! Pay attention to this information when traveling.
Is it good to buy tickets for Spring Festival travel rush this year? What’s the change in the weather? What preparations should be made for travel?
②From March 1st, you may earn more money!
The 2023 annual settlement processing time is from March 1 to June 30, 2024.
③Gao Weidong, the former chairman of Maotai, was sentenced to life imprisonment for accepting bribes of more than 110 million yuan.
The illegal receipt of property directly or through relevant personnel amounted to more than 110 million yuan, of which 46.56 million yuan was not actually obtained.
(4) A number of courier companies announced that "the Spring Festival will not be closed in 2024"
Post, SF Express, Yunda, Debon, JD.COM and many other courier companies have announced the service policy of "No Closing during the Spring Festival".
Reporting/feedback

CITIC Securities： The market underestimated the impact of the Japanese nuclear pollution incident on the competition pattern of China’s beauty industry, and suggested paying attention to the replaceme

We believe that the market underestimated the impact of the Japanese nuclear pollution incident on the competition pattern of China’s beauty industry. (1) According to the sea discharge plan announced by the Japanese government, the nuclear polluted water will be discharged into the sea for at least 30 years, with strong persistence and repetitiveness. Every time the sea discharge is started every year, it may cause a new round of concern, and events such as pollution caused by sea discharge may cause staged public opinion. ② This incident has caused a great impact on Japanese cosmetics in brand, product, channel and marketing dimensions. Based on the leading operation precision of new domestic channels and continuous breakthrough in product strength, we believe that Chinese cosmetics is expected to make up for its position quickly and continue to expand its market share in the medium and long term. (3) Japanese cosmetics account for a relatively high proportion in sunscreen, cleansing and suits, and the price band is positioned at the high end, so the above areas have great substitution opportunities. Pay attention to the sunscreen track with large space for daily makeup replacement and strong growth potential, and the skin care track with large space for daily makeup replacement; Pay attention to the upstream raw material industry chain with continuous technological breakthrough and upgrading.

▍The discharge of nuclear pollution water into the sea has caused negative public opinion, and Japanese cosmetics products, channels and brands are under pressure in many aspects.

The Japanese government launched the Fukushima nuclear pollution water discharge plan from August 24, 2023, which will last for at least 30 years. The related events have caused a lot of negative public opinions. The Japanese makeup lies in: 1) brand dimension: consumer aversion caused by national sentiment+brand quality reputation double blow; 2) Product dimension: safety causes consumers’ concerns; 3) Channels and marketing: KOL cooperation in new channels is negatively affected. Under the pressure of many sides, the sales of Japanese cosmetics fell after the incident of discharging the sea.

▍It is estimated that there will be more than 7 billion alternative spaces, and there will be great opportunities in the middle and high-end positioning, sun protection and skin care products.

It is estimated that Japanese cosmetics will give over 7 billion market share in two years:Based on the assumption that the negative impact of the nuclear pollution incident continues, with reference to the sharp drop of 21% in Japanese cosmetics imports from January to November 2023 and the general drop of 15% in Japanese Top brand sales in 2023, we estimate that the market size of Japanese brands will drop by about 15% in 2023, giving up about 5.2 billion yuan. In terms of the Japanese market scale in 2024, we made three scenarios based on the import data, the sales data of Japanese brands after the cooperation of Daren, and Shiseido’s statement at the 3Q23 performance meeting. It is estimated that the total market space of Japanese cosmetics in 2023~24E will be 5.8-10.5 billion yuan, and the neutral hypothesis is expected to be about 7.5 billion yuan.

There are great opportunities for mid-to high-end positioning, sun protection and skin care products:Referring to the main Japanese brands covering the middle and high price bands, and according to Euromonitor data, the sales scale of high-end Japanese brands is about 24.2 billion yuan, accounting for 70%. We judge that the market share given by Japanese brands is relatively high-end, and the brands in the upgraded price band have hope to undertake it. With reference to the market scale of Japanese cosmetics, 64% is for skin care, 11% is for make-up and 10% is for sun protection, which respectively account for 9%/7%/23% of the market scale of skin care, make-up and sun protection in China. Considering that the makeup category mostly adopts OEM mode, the impact is relatively light, we think that sun protection and skin care track are more likely to be replaced. Further subdividing the skin care market, we find that Japanese brands account for the sub-category of cleansing and facial care suits.

▍National makeup opportunities: the sun protection track has a high growth and superimposed daily makeup replacement opportunities, and the skin care track has a selection of cleansing and suit segmentation.

1) High growth of sunscreen track+replacement of daily makeup, and the national makeup leader will benefit first under the management of special certificate.According to Euromonitor, the sunscreen track is a traditional advantage category of Japanese makeup, with a Japanese market share of 24%; In the first big promotion after the nuclear waste water incident, the market share of Japanese sunscreen amoy declined by 10%, and that of Tik Tok declined by 4%. The penetration rate of sunscreen cosmetics in China is low. According to NMPA standard, the penetration rate of women who normally use sunscreen products in the peak season of sunscreen is only about 16%. In the field of children’s sun protection in the cultivation period, a series of sun protection products with sales exceeding 400 million yuan have also appeared, and there is sufficient room for development. In addition, because sunscreen products are under special license management, the registration period needs 9-15 months, and we judge that the national makeup faucet that lays out the sunscreen track in advance is expected to benefit first.

2) The skin care track is a must, paying attention to the cleansing and suit subdivision with large replacement space.According to the data of the blast furnace, Japanese brands account for 51% of the Top10 cleansers and 23% of the facial care packages, and there are great potential replacement opportunities. Among them, the domestic cleansing positioning is cost-effective, the product strength is equal to Kerun, and the new channel operation is significantly ahead of Japan, which is expected to replace the mid-range Japanese cleansing market. The segmentation of facial care suits is dominated by foreign brands, positioning the overall high-end, and high-end products and high-end brands of national cosmetics are expected to be partially undertaken; At the same time, the leading domestic products in the expansion stage of large single products form a set of "stocking goods" with star single products, which greatly increases the unit price of customers and also has certain development opportunities.

▍The attention of Japanese raw materials has increased, catalyzing the further upgrading of the national cosmetics industry chain.

Japanese raw material manufacturers have good overall color, smell and quality, mainly core skeleton raw materials and monomer active ingredients, and are leading the world in some segments; Local raw material manufacturers cover more comprehensively and achieve breakthroughs in Japanese in individual segments. With the increasing attention paid to cosmetics raw materials after the nuclear water pollution incident, the upstream industrial chains such as R&D and raw materials are enriched in China, and the cosmetics supply chain in China is gradually recognized internationally. The incident will further promote the perfection and upgrading of the national cosmetics industrial chain.

▍Risk factors:

There is a high degree of uncertainty about the impact and duration of the nuclear pollution water discharge event; Skin care products are typical optional consumer goods, if residents’ consumption willingness and confidence are weak or have a negative impact on companies in the industry; If the regulatory policy changes beyond expectations, it may lead to a corresponding slowdown in the growth rate of industries and enterprises; The risk that the product strength and brand strength of local brands are not improved as expected; The risk of concentrated sales of e-commerce platform; The risk of changes in marketing channels; Risks of technology research and development.

▍Investment strategy: pay attention to the replacement opportunities of Japanese makeup in combination with the main line of growth.

We believe that the market underestimated the impact of the Japanese nuclear pollution incident on the competition pattern of China’s beauty industry. (1) According to the sea discharge plan announced by the Japanese government, the nuclear polluted water will be discharged into the sea for at least 30 years, with strong persistence and repetitiveness. Every time the sea discharge is started every year, it may cause a new round of concern, and events such as pollution caused by sea discharge may cause staged public opinion. ② The incident caused a great impact on the brand, products, channels and marketing dimensions of Japanese cosmetics. Based on the leading operation precision of new domestic channels and the continuous breakthrough of product strength, we believe that Chinese cosmetics is expected to make up for its position quickly and continue to expand its market share in the medium and long term. (3) Japanese cosmetics account for a relatively high proportion in sunscreen, cleansing and suits, and the price band is positioned at the high end, so the above areas have great substitution opportunities. Pay attention to the sunscreen track with large space for daily makeup replacement and strong growth potential, and the skin care track with large space for daily makeup replacement; Pay attention to the existence of upstream raw material industry chain that constantly breaks through and upgrades.

Is it difficult to take the self-study exam of insurance principles？

The regulations of self-taught provinces are different, and the provincial policies shall prevail. Including the time, process, policy and entrance of registration are different, but the examination is unified throughout the country, and the academic qualifications are also available on the Internet. Is it difficult to take the self-study exam of insurance principles?On this issue, Xiaobian, the online self-study platform of China Education, will simply tell you about it.

Click to enter:If you have questions about the self-study exam, don’t know how to choose the examiner’s college and major, and don’t know the local policy of the self-study exam, click to learn now.

Insurance is a discipline involving risk management and finance. For many people, insurance may be a relatively unfamiliar and complex field. However, in the face of increasingly complex social and economic environment, it is becoming more and more important to understand the basic principles and concepts of insurance. Insurance involves many complex concepts and technologies, such as risk management, insurance principles, premium calculation and compensation theory. These concepts and technologies may be difficult for people without relevant background knowledge or experience to understand.

Self-taught exams generally take about 2 years to graduate. Self-taught examination basically depends on the examinee’s consciousness. If the examinee can study consciously, then the graduation time will definitely be shorter. There is no fixed academic system for adult self-study exams, and when to graduate and get a certificate depends on the candidates themselves. Candidates must complete all subjects in the professional plan before applying for graduation. There are generally about 12-16 examination subjects for self-taught undergraduate students. Candidates need to complete the theoretical courses specified in the professional examination plan, complete the practical course assessment specified by the major, and obtain qualified results before they can apply for graduation.

Worthy, the self-taught examination is the method to improve academic qualifications with the highest recognition except the full-time education enrollment. The enrollment target of self-study examination is for the whole society, and all employees, students and unemployed people can apply for it. The state expressly stipulates that self-study examination qualifications can participate in national civil service and postgraduate examinations, and can also participate in various job qualification examinations in society. Generally speaking, no matter whether you plan to work, go to school or go abroad for further study in the future, self-study exam qualifications are useful.

The above is related to the adult self-study exam, and candidates can use it as a reference, which is subject to the official announcement! Candidates want to get more information about the self-taught examination, such as the registration time, examination time, application conditions, preparation knowledge, related news, etc. Please pay attention to the online self-taught examination channel of China Education.

Popular recommendation:

If you have any questions about the self-study exam, don’t know how to choose the main examination institution and major, and don’t know the local policy of self-study exam, click to learn now > >

Recommended reading:

In April, 2024, all provinces registered for self-study exams in official website.

Summary of Registration Time and Entrance of Self-taught Exams in April 2024 by Provinces

Reunion dinner for Tujia boys in Hunan： the menu is ＂confidential＂, and it is dawn when eating.

My hometown is Sangzhi County, Zhangjiajie City, and I am a Tujia boy. Different from the general New Year’s Eve dinner, we usually have a reunion dinner in the early morning of the New Year’s Eve, almost as early as possible, and families will start preparing from dawn.

Therefore, every year at the reunion dinner, the family will experience the moment when the sky is bright after eating. If we are lucky, we can also hear the sound of fireworks and firecrackers set off by nearby residents during the reunion dinner. On this day, people will look forward to the good weather in the coming year, just like farmers, and they all hope that all their wishes will come true and everything will go well in the new year.

Family members have been preparing dishes for the reunion dinner since early in the morning.

When I was a child, I heard from the older generation that Tujia people have the custom of catching up with the New Year, usually having a reunion dinner on the night of the 29th of the twelfth lunar month. But as a Tujia, I have had a reunion dinner on the morning of New Year’s Eve since I was a child. Yes, this is our morning New Year’s Eve dinner.

This year is the same. Our family chose to have a reunion dinner at our third aunt’s house. It is said that three aunts and three uncles have been buying food since the beginning of the twelfth lunar month, including killing pigs from the countryside, and then finding people to smoke them into bacon and sausages. Smoked bacon can be steamed, fried and cooked, and each method is delicious.

Except for bacon, the menu of the annual reunion dinner is "confidential", and people who come to eat don’t know what to eat until the food is served on the table. This year, I asked my third aunt for a menu in advance, including: steak, steamed sausage, fried bacon, pig’s head meat, chicken hotpot, tasty fish, bacon trotters and so on.

I got up early, set out from home and walked.13I came to my third aunt’s house in minutes, and it was early morning.sixHalf past ten. Three aunts and three uncles are already busy. "Honey, thaw the pig’s trotters first, then wash them. I’ll wash those small dishes first. After you finish, then cut the sausage." Third aunt shouted.

At this time, it was just dawn outside. In the words of my composition when I was a child, it was "the sky turned into a fish-belly white". The preparation of the two people’s dishes lasted for almost an hour, and I would help them from time to time. After washing the vegetables, it was already bright outside.

It was dawn after eating, and fireworks sounded outside the house.

At this time, I came to the most important link.——Cooking. My uncle used to work in the cookhouse squad of the army, so he naturally cooked the reunion dinner. Ignite, take out the pot, burn oil and hot dishes. One by one, the ingredients change from raw to cooked in the pot, and the hot air and aroma are intertwined. Third Aunt can’t help but say, "The dishes smell good!"

fromeightAt half past ten, relatives at home knocked at the door one after another, and my brother and nephews scrambled to open the door. "Happy New Year!" Every guest who comes in will say such a sentence. In a short time, the house was full of people.

The dishes were brought to the table and the table was quickly filled. People who were sitting around the fire table smelled the fragrance and came to the table automatically. There is a special program of Spring Festival on the news channel on TV. Overseas Chinese all live the same festival belonging to China people in different places.

Our whole family picked up cups and raised their glasses to wish a happy New Year. It was cloudy that day. Although the sun didn’t come out, there were bursts of fireworks and firecrackers outside the house.——People have a reunion dinner on the morning of New Year’s Eve, saying goodbye to the old and welcoming the new, hoping for a better year.

Xiaoxiang morning herald reporter Man Yankun

News clue breaking channel: the application market downloads the "Morning Video" client and enters the topic of "Morning Help"; Or call the morning video news hotline 0731-85571188.

Reporting/feedback

The policy is good again and again! Real estate rose for three consecutive days, leading the industry sector today.

China Business Daily (Reporter Wang Tongxu)On January 26th, the three major indexes of A shares were mixed. At the close, the Shanghai Composite Index rose by 0.14%, the Shenzhen Component Index fell by 1.06%, the Growth Enterprise Market Index fell by 2.23%, the Beizheng 50 Index fell by 2.4%, and the turnover of the Shanghai and Shenzhen stock markets was 828.7 billion yuan. More than 3,000 stocks in the two cities fell, with a net purchase of 1.51 billion yuan in northbound funds.
On the theme of the plate, real estate rose for three consecutive days, and today’s increase is ahead of the industry plate; Affected by good news, the concepts of Hainan Free Trade Zone and Free Trade Port were also among the top gainers.
Today, the fever of real estate stocks continues. Real estate services and real estate development sectors were among the top gainers. Special service 20cm daily limit; Hainan Expressway, Shahe Shares and Pudong Jinqiao have a daily limit of over 10cm; China Communications Real Estate, Sunshine, Waigaoqiao, Everbright Jiabao, Cinda Real Estate, Chinese Enterprises and Guangming Real Estate all rose by more than 9%. In addition, SI Development and Shanghai Lingang also have daily limit.
Recently, there have been frequent policies in the real estate sector, which have been beneficial again and again. After yesterday’s close, the press conference of the State Council Office was held. Xiao Yuanqi, deputy director of the State Administration of Financial Supervision, said at the meeting that the coordination mechanism for urban real estate financing will be accelerated and effective, and financial institutions will be guided to implement the management requirements for operating property loans; Support local city governments and housing construction departments, and further optimize individual housing loan policies such as down payment ratio and loan interest rate due to city policies.
Today, another good news was released. In the morning, the Ministry of Housing and Urban-Rural Development held a deployment meeting of the coordination mechanism for urban real estate financing. The meeting emphasized that the orderly development and construction of the project is the basis for the stable and healthy operation of the real estate market and concerns the vital interests of the people. In view of the current financing problems of some real estate projects, all localities should take projects as the object, study and put forward a list of real estate projects that can be given financing support, coordinate the issuance of loans by financial institutions within their respective administrative regions, and accurately and effectively support reasonable financing needs.
Guojin Securities believes that the central government attaches importance to the health of real estate financing, and the financial industry is duty-bound to strongly support the real estate sector. The follow-up will further optimize the down payment ratio and loan interest rate. The support of the financing side can improve the cash flow of housing enterprises to a certain extent, and the key to the stable and healthy development of the industry lies in the stabilization of sales, which still needs the continuous support of comprehensive easing policies at both ends of supply and demand. Or we can focus on the improved central enterprises and state-owned enterprises with the bottom of the current valuation, good operating conditions and benefiting from the optimization of the industry structure.
In addition, the Shanghai Free Trade Zone has not diminished, and the Hainan Free Trade Zone has also "come from behind".
This morning, the volume of Hainan’s free trade sector rose by more than 4%, and the half-day transaction exceeded the whole day yesterday. Kangzhi Pharmaceutical once hit a daily limit of 20%, and then fell back to an increase of about 9%.
In addition, Hainan Ruize, Jingliang Holdings, Hainan Development, Hainan Coconut Island, Hainan Expressway, Haiqi Group, Strait Shares and Huawen Group all had daily limit.
In the news, Dai Zhen, director of the Foreign Affairs Office of Hainan Province, answered a reporter’s question at the "Director’s Channel" of the Third Session of the Seventh National People’s Congress of Hainan Province yesterday, saying that 30 free trade zones around the world have actively responded to the initiative of joining the global free trade zone (Hong Kong) partnership, and Hainan’s international "circle of friends" is growing.
In addition, the three-dimensional and diversified international network of contacts in Hainan Free Trade Port has taken shape. Last year, Hainan added four foreign friendship cities, resumed and opened 50 overseas passenger and cargo routes, and more than 500 batches of foreign dignitaries, heads of international organizations, representatives of diplomatic envoys in China, executives of Fortune 500 companies and media leaders from more than 100 countries visited Qionglai.
According to Haikou Customs data, in 2023, Haikou Customs supervised a total of 43.76 billion yuan of duty-free sales from outlying islands, up 25.4% year-on-year; The number of duty-free shopping was 6.756 million, a year-on-year increase of 59.9%.
Guosen Securities said that the third phase reconstruction and expansion project of Sanya Airport will start at the end of November 2023, which can meet the annual throughput demand of 30 million passengers in the future. From the mid-line, Hainan Airport has core advantages such as the key airport card position of Hainan Free Trade Port and the duty-free benchmark commercial resources of Haikou Riyue Plaza. In the future, the mid-line is expected to directly benefit from the customs clearance construction of Hainan Free Trade Port.
(Note: The picture comes from a straight flush, and this article does not constitute any investment advice.)
Reporting/feedback

You haven’t watched this game yet, they have got the best result of China team in the Olympic Games.

Wen | Yang Weige

Rugby is not popular in China, and there are not many fans, so the rugby match in the Olympic Games has not attracted much attention from domestic audiences.
However, this project you haven’t seen yet,China rugby girls have finished seventh in the women’s rugby sevens in the 2020 Tokyo Olympic Games, winning China’s best performance in this Olympic event and creating the highest ranking of Asian women’s rugby teams in the Olympic Games.
As the first seven-a-side China rugby women’s team to enter the Olympic Games, their breakthrough has been recorded in the history of sports in China.
Two rugby girls are from Shanghai.
Liu Xiaoqian and Gu Yaoyao are both from Shanghai Institute of Physical Education.
Liu xiaoqian
In July, 2007, 11-year-old Liu Xiaoqian was selected by the teacher and entered the track and field training point of Ma Yinchu junior middle school, and began to carry out systematic basic track and field training. Won the first place in women’s 100 meters in provincial and municipal track and field competitions for many times.,Liu Xiaoqian’s talent in speed, strength and agility in the competition was favored by the coach of the women’s football team. After many times of communication, she joined the China women’s football reserve echelon.
In 2012, Liu Xiaoqian joined the Shanghai Rugby Team. She won the second place in the Asian Youth Championship and the Asian Rugby Championship on behalf of the China team. After less than two years of rugby training, she won the athlete level. In September, 2018, in the women’s rugby sevens final of the 18th Asian Games, China won a precious silver medal, and Liu Xiaoqian participated as the main force.
In 2019, during the training before the Asian rugby sevens qualifiers of the Tokyo Olympic Games,Liu Xiaoqian suffered many serious injuries and underwent many operations. In the end, she overcame the injury with tenacious perseverance and high self-disciplineAnd break throughSelf, as the main player, won the laurel and qualified for the Olympic Games.
The training of rugby events is very hard, with fierce collision and wind and sun. Liu Xiaoqian once said: "Since you chose it at the beginning, you must persist. You know the hardships of training, as long as you get used to it!"
Gu Yaoyao
Gu Yaoyao showed great athletic talent since she was a child. In 2009, she won the championship of women’s triple jump in city and county sports games. In 2011, with the recommendation of her coach, Gu Yaoyao came to the competitive school affiliated to Shanghai Institute of Physical Education and joined the school’s women’s football team. With her athletic talent and hard training, Gu Yaoyao’s technical level finally improved by leaps and bounds, and she was successfully selected for the national women’s football team in 2015.
As the captain of the Shanghai Women’s Rugby Team and the main player of the National Women’s Rugby Team, Gu Yaoyao won the fourth place in the women’s rugby competition in the 13th National Games in 2017, the ninth place in the Dubai World Rugby Series in 2018 and the second place in the Asian series in 2019.
Gu Yaoyao, who plays with the national team all the year round, doesn’t have all kinds of holidays like other students. She trains with the team every winter and summer vacation and on weekends. Talking about training, Gu Yaoyao once bluntly said: "Every training is very tired, and clothes are always soaked with sweat."
All graduate students.Excellent cultural achievements.
On August 4th, the author interviewed Xu Hui, the head coach of Shanghai rugby team, Wu Jianhong, the assistant coach, and their school sisters in Shanghai Institute of Physical Education. Listen to them talk about the training routine of Olympic athletes.
From left to right: head coach Xu Hui, assistant coach Wu Jianhong, junior sister Xiaochen and Zheng Wenyan Photography: Wang Fei.
Liu Xiaoqian and Gu Yaoyao have been in the national team for many years and have rich experience. The head coach Xu Hui is very proud to be able to play for the country in the Olympic Games. He believes that the two players have their own specialties, and Gu Yaoyao has strong organizational mobilization ability and excellent defense, which can create scoring opportunities for everyone. Liu Xiaoqian is mainly aggressive and easy to score.
Xu Dao said that he also communicated with two athletes after the game, and Gu Yaoyao was in good shape. Liu Xiaoqian was not able to play the last game for the national team because of her elbow injury during the war with the United States. She was aggrieved and was actively receiving treatment and trying to adjust her mentality. After the Olympic Games, they are preparing for the war in isolation in Tianjin, and then the national team will join forces to compete in the Xi ‘an National Games.
Talking about the impression of the two players when they entered the school, Xu Dao said that Gu Yaoyao was originally engaged in long jump track and field events, and Liu Xiaoqian also practiced track and field. They have been working hard since they joined the Shanghai rugby team. In particular, Liu Xiaoqian impressed him very deeply. In preparation for the international competition, Liu Xiaoqian was injured from knee to shoulder to elbow. So far, four operations have been performed. Pain is a test for athletes’ physical and psychological state. However, Liu Xiaoqian overcame physical pain and difficulties every time, and quickly returned to the stadium to continue training every time.
Rugby training ground
Asked if there is any good way to avoid injury, Xu Dao said:Competitive sports must go beyond the limits of human beings, so as to live up to the Olympic spirit of "higher, faster, stronger and more United".They also constantly teach players some skills and means in training, hoping to avoid injuries as much as possible.
Xu Hui, head coach of the Shanghai rugby team, and Wu Jianhong, assistant coach
Wu Jianhong, an assistant coach, accompanied the football team for training before they rushed to Tokyo. He is the unsung hero behind the Olympic athletes. Asked if the training of rugby is bitter, she said: She has been practicing rugby for ten years, and the longer she has been in contact with it, the more she likes it.
Talking about the two athletes, Wu Jianhong said: "Liu Xiaoqian has experienced many setbacks and has great courage. This spirit is worth learning. She is a very strong and dedicated girl. On the day before a shoulder surgery, she still insisted on training and came step by step to overcome difficulties in the process of injury. " Speaking of this, coach Wu’s voice has choked.
Speaking of the characteristics of the players of the Shanghai rugby team, Xu Dao particularly pointed out the combination of study and practice.
"Gu Yaoyao and Liu Xiaoqian have excellent cultural achievements and have always been an example for the younger generation to learn. They are graduate students in 2018 and 2019 respectively. Gu Yaoyao has obtained the teacher qualification certificate, and Liu Xiaoqian has been practicing oral English and improving her English. As a student athlete, learning is for more scientific training, and a deeper summary can be made after training. "
Xu Dao said that in addition to regular daily training, young players will be organized to watch every game during the Olympic Games to cheer for the national team and the teachers and sisters. Young players are growing up in competition and exercise. I believe that I will be able to make a name for myself in various competitions soon.
Reporting/feedback

Look at Chinese football! The film channel broadcasts the national theme film ＂Grab the Fireworks＂


Special feature of 1905 film network Speed, bravery and fierceness … … This is a contest between strength and wisdom! It is the favorite of the brave! Fireworks grabbing is a sport for the brave, and it is known as "Eastern Rugby". It is popular among Zhuang and other ethnic minorities, and it is a traditional folk sports activity with strong national characteristics. It has a history of more than 500 years.


Every year, on the third day of the third lunar month, the Zhuang compatriots will hold a "fireworks grab" on this day.



Those who grab the fireworks indicate that the next year will be rich, prosperous and prosperous, and winning the first fireworks is a symbol of a beautiful year, representing the glory and blessing of the new year.At 20: 15 pm on April 28th, the minority sports film produced by the film channel., will be the story of Zhuang youth in Yunling Town, northern Guangdong Province, participating in the city’s minority games.Xu ZhanOpen.


The life of Zhuang people in remote mountainous areas exudes a strong local flavor, which we are not familiar with at ordinary times. This film can let more audiences know about the national sport of "Fireworks Grab" and feel the new atmosphere of beautiful countryside from a small perspective.


In order to renew the store for his girlfriend, earn money to buy a house and get married, the land flying (decoration) volunteered with the simplest utilitarian motive and teamed up to represent the town in the fireworks competition.He gathered a group of idle and confused Zhuang youths together, raised the team flag in the training ground and built the Yunling Flying Leopard Team.



On the land, I flew to find some young Zhuang people with special talents, such as Iron Head Kung Ah Quan, Scud Monkey, Hercules Down Brothers, Invincible Straw Pack Four Seas, Singer Shisanlang and Orchid Finger Long Hair.These young people have their own characteristics, but they all have their own difficulties. They are not perfect and even have many shortcomings, and the fireworks competition has rekindled their hopes.



"Yunling teenagers have high ambitions, and Qi Xin works together to win fireworks."In order to prove their value, this group of "teenagers" shed sweat and enthusiasm on the training ground. In the arena, they violently robbed, hid or threw, and the atmosphere was tense, warm and exciting.


During the training and competition of fireworks, the lives of these young people have changed dramatically.Sports competition inspired their high morale and courage to work hard. They bid farewell to their past selves, and the original Yunling Flying Leopard team became a brave champion.



With the collective efforts, they gained friendship, self-esteem, love and dreams, and completed their self-growth.Sharpen a sword every ten years.　The film has gone through 12 years from planning and preparation to release, and the creative team has put a lot of effort into it.　


The director of the film said: "We strive to make" Fireworks Grab "a masterpiece with ideological, artistic and commercial features."


In order to make this film well, the director is very strict in the choice of actors.In order to select the fireworks team actors with good physical quality, he requires professional actors who have played the habit and physical strength of the whole basketball game or half-court football game every week to be eligible to run for the role.


Before shooting, the director dragged all the actors to the shooting location to live and train with the local real fireworks players. After more than half a month’s study, almost all the actors were exposed to the sun. During the training, these actors gradually became real fireworks players.


In the process of shooting, all the actions of training and competition must be completed by the actors themselves. Because of the fierceness of sports competition, actors are constantly injured to varying degrees, but no one has backed out because of this, but the more they fight, the braver they become.



As we all know, sports plays are not easy to shoot, and it is even more difficult to shoot well, which is especially difficult for small-budget films.


In order to enhance the visibility of the film, the director used some skills of China Wushu for reference, designed many difficult movements with acrobatic performances, and incorporated them into the fireworks competition, which showed us the new expansion and new realm of sports-themed films.　



As an intangible cultural heritage, the fireworks grab is a folk cultural symbol and a carrier of national memory inheritance.　


The film "Fireworks Grab" not only presents the traditional custom and sports of Fireworks Grab to the audience more vividly and truly, but also promotes the inheritance and promotion of China’s national tradition and folk sports culture through the film.This era needs this kind of good film full of positive energy and giving people spiritual baptism.


For example, Tang Ke, director of the film channel creation department, said: "The biggest feature of this film is that it has achieved a mix of genres, and it is a film with real low cost, positive energy and great feelings."


Therefore, this film, which was filmed in Lianshan, Qingyuan, Guangdong Province, integrates love, sports, intangible cultural heritage, ethnic minorities and positive energy, and pays attention to the life and destiny of ordinary Zhuang people in remote mountainous areas. From the shooting to the completion of production, it has received attention and appreciation from all walks of life.


Tan Zheng, editor-in-chief of Film Art, said: "This film has fully recorded and presented the folk custom of’ fireworks grabbing’ with vivid and rich images, which is a powerful fulcrum for the development and inheritance of folk culture. In addition, it is also related to the development and protection of minority cultures, which can attract everyone’s attention and attention. "



It is reported that the creative team has donated the film copy to China Film Archive for permanent preservation, so that more people can learn about China folk sports and protect and inherit the intangible culture.


"Flying leopards in Yunling, who dare to grab fireworks, are all heroes.""Fireworks" inherits not only the sport of fireworks, but also the spirit of endless and tenacious struggle!


At 20:15 on April 28th, the movie "Grab the Fireworks" produced by the movie channel will meet with you for the first time. Let us appreciate the cultural value and spiritual charm of folk sports together!


Why alpine skiing？

　　Why do delegations with few people prefer alpine skiing? Is the threshold of this project low?

　　Haiti, Philippines, Ghana, Ecuador … … At the opening ceremony of the Beijing Winter Olympics on the evening of the 4th, people found that some countries or regions with hot impressions also sent delegations to participate. Most of these delegations have only one or two athletes, and almost all of them participate in alpine skiing. Some netizens laughed and said: Alpine skiing is the biggest "winner" of the opening ceremony.

On the evening of February 4th, the opening ceremony of the 24th Winter Olympic Games was held in Beijing National Stadium. Sarah Escobar (middle), the flag bearer of the Ecuadorian delegation and alpine skier, is the first female athlete in the history of Ecuador. Xinhua News Agency reporter Huang Zongzhi photo

　　The question is: Why do delegations with few people prefer alpine skiing? Does this project that sounds very imposing have a low threshold?

　　Snow sports with the largest number of registered people in Winter Olympics.

　　If we give an imprecise definition, alpine skiing is faster than the one who slides down the mountain. Without somersaults and obstacles, we just need to turn, and whoever gets to the end of the mountain first wins.

　　Kang Hua, the international referee of the International Skiing and Mountaineering Federation, said that skiing started as a mode of travel in snowy areas such as Northern Europe, China and Xinjiang, which was highly practical but hardly entertaining. At the end of the 19th century and the beginning of the 20th century, the center of skiing shifted from Northern Europe to the Alps, and modern alpine skiing technology was developed in the cross-country skiing prevailing in Northern Europe. Later, all the patterns and variants of snowboarding can be said to be branches of alpine skiing. The snowboarding that beginners learn in the snow field is also the basic skill of alpine skiing.

　　Therefore, in skiing, this project and cross-country skiing are well-deserved basic projects, but they are more interesting than cross-country skiing, and the mass base is easier to develop and consolidate.

　　In this Winter Olympics, there are 307 athletes registered successfully in alpine skiing, which is the largest number in snow sports and second only to ice hockey in 15 disciplines. Athletes cover more than 80 countries and regions.

On February 3rd, the first training of men’s downhill skiing in Beijing Winter Olympics was held at Yanqing National Alpine Ski Center in Beijing. The picture shows Italian player matteo Marsaglia in training. Xinhua News Agency reporter Chen Yizhen photo

　　This is largely due to the IOC’s intention to improve the participation and coverage of winter sports through this project, and its quota allocation rules are relatively loose. All delegations have two basic places, one man and one woman. As long as someone meets the requirements for Olympic points, delegations can get these two places. After the allocation of basic places, the rest will be produced from the world’s high-level athletes according to a series of rules.

　　Speed events are still high threshold.

　　Then the question comes again: If I come from a tropical country, the Winter Olympics is coming, I urgently find a ski resort to train hard, get points for participating in the global competition, and finally get the basic quota allocated by the International Olympic Committee, then can I participate in all the events?

　　Can’t. There is a high probability that you are only qualified for slalom and giant slalom. Gliding and super slalom are almost impossible.

　　In this Winter Olympics, there are 10 events for individual alpine skiing. Men and women are divided into downhill, super giant slalom, giant slalom, slalom and all-around. The all-around ratio is still downhill and slewing, so the four events, such as downhill, are the basis of the alpine skiing Winter Olympics.

　　Among them, downhill and super slalom are called "speed events", and slalom and slewing are called "technical events". The International Snow Federation has higher requirements for the venue of speed events, with long track and large drop. In the men’s downhill, which can be called the "Flying Man Wars" in the snow, the track gap should reach at least 800 meters and the length should be at least three kilometers. The top speed of athletes can even reach more than 140 kilometers per hour.

　　This leads to: first, it is difficult to find such a standard snow trail. The speed track of the National Alpine Ski Center in Yanqing Division is the first track in China that meets the standards of the Winter Olympics. In some areas where mountain resources are not abundant, even if it is cold enough, if the mountain is not high enough and the mountain is not big enough, there is no way. Second, people who are engaged in the project are difficult and dangerous, and have no training conditions, and they can’t meet the winter Olympic competition standards for speed projects in a short time.

On February 1st, the National Alpine Ski Center in Yanqing District of Beijing Winter Olympics held an all-factor drill. The picture shows a skater trying to skate on the track. Xinhua News Agency reporter Lian Zhenshe

　　"The International Snow Federation requires higher points for the speed events of the Winter Olympics than the technical events, just for safety." Didier Defogo, the designer of the men’s downhill track in this Winter Olympics and the champion of men’s downhill in 2010 Winter Olympics, said. Jamaican alpine skier Benjamin Alexander also said: "Even if there is an indoor ski resort, it is impossible to build a ski trail that can support downhill training."

　　In this Winter Olympics, there is only one athlete, and 15 delegations of this athlete participated in alpine skiing events. Without exception, they all participated in slalom and giant slalom. In addition, the experience of British player Dave Reading seems to prove that the flexibility of training in technical projects can be higher. He has been training in the indoor snow field, but at the age of 35, he still won his first men’s slalom World Cup sub-championship, and he is a strong contender for the medal in this Winter Olympics.

Cold air strikes again on the 26th! Need to pay attention to temperature changes in time

　　With the end of the cold wave weather

　　this morning

　　Northeast of Northwest China, Inner Mongolia

　　North China, Huanghuai and other places

　　The temperature has obviously risen.

　　The local temperature rise range is 8-12℃

　　Starting tomorrow

　　There will be cold air affecting our country again

　　Estimated 26th to 28th.

　　Cold air affects the middle and lower reaches of the Yangtze River and most of its northern areas.

　　The temperature in most areas will drop by 4 to 6℃

　　Central Inner Mongolia and parts of the eastern part of Northeast China

　　Up to 8 to 12℃

　　Southeastern Inner Mongolia, eastern Heilongjiang, central and eastern Jilin

　　There is moderate to heavy snow in parts of eastern Liaoning and other places.

　　In addition, attention should be paid to the influence of strong winds.

　　The Central Meteorological Observatory continued to release this morning.

　　Gale blue warning

　　It is expected that today

　　Central Inner Mongolia, northern Xinjiang and western Gansu

　　There will be 5 to 6 grades in central and eastern Qinghai.

　　A gale of magnitude 7.

　　The southwestern part of the East China Sea, the Taiwan Province Strait, and the east of Taiwan Province.

　　Bashi channel, northern and central South China Sea.

　　There will be 7 to 8 grades in the southwestern part of the South China Sea.

　　A gust of 9 winds.

　　Meteorologists reminded

　　Next ten days

　　The cold air that affects our country is frequent.

　　Around 30 days

　　There will also be cold air affecting central and eastern China from north to south.

　　Need to pay attention to temperature changes in time

　　Add clothes in time

　　Beware of high incidence of diseases in different seasons

　　meanwhile

　　Be alert to the adverse effects of windy weather on traffic travel.

　　Stay away from temporary structures, billboards, etc.

　　Pay attention to travel safety

(Central Meteorological Observatory)

Attention financial holding company! The central bank zoomed in, and super-strict supervision is coming! (20 points)

　　On the afternoon of July 26th, the central bank and relevant departments drafted the Trial Measures for the Supervision and Management of Financial Holding Companies (Draft for Comment) (hereinafter referred to as the Measures). A few days ago, it officially solicited opinions from the public.

　　The central bank publicly solicited opinions on the pilot measures for supervision and management of financial holding companies.

　　In order to promote the standardized development of financial holding companies, effectively prevent and control financial risks, and better serve the real economy, the People’s Bank of China, together with relevant departments, drafted the Trial Measures for the Supervision and Management of Financial Holding Companies (Draft for Comment) (hereinafter referred to as the Measures). A few days ago, it officially solicited opinions from the public.

　　According to the central bank, financial holding companies invested by non-financial enterprises blindly expand into the financial industry and regard financial institutions as "cash machines". There is a regulatory vacuum and risks are constantly accumulating and exposed. In order to rectify and restrain the risks of financial holding groups that have actually formed in an orderly manner, and at the same time effectively regulate the increment and prevent the cross-industry and cross-market transmission of financial risks, the Measures, in accordance with the decision-making arrangements of the CPC Central Committee and the State Council, fill in the shortcomings of the supervision system, follow the concept of macro-prudential management, and conduct comprehensive, sustained and penetrating supervision on the capital, behavior and risks of financial holding companies on the basis of consolidated supervision.

　　There are 7 chapters and 56 articles in the exposure draft, the main contents of which include:

　　The first is to clarify the scope of supervision.That is, financial holding companies that meet certain conditions and whose actual controllers are domestic non-financial enterprises and natural persons shall be supervised by the People’s Bank of China.

　　For integrated financial groups formed by financial institutions investing in other types of financial institutions across industries, the relevant financial supervision departments shall implement supervision according to the Measures and be responsible for formulating specific implementation rules.

　　The second is to take market access as the first threshold for risk prevention and control., clear the qualifications of directors, supervisors and senior management personnel, and implement continuous supervision of financial holding companies during and after the event. The administrative licensing matters involved will be decided by the State Council according to law.

　　Third, strict shareholder qualification supervision., through the positive list and negative list, stipulate the conditions and prohibited acts of becoming a shareholder of a financial holding company. The major shareholder, controlling shareholder or actual controller of a financial holding company shall have prominent core business, standardized corporate governance, clear ownership structure and good financial status.

　　The fourth is to strengthen the supervision of the authenticity of capital sources and the compliance of capital utilization.. The source of funds shall be true and reliable, and non-owned funds such as entrusted funds shall not be used to invest in financial holding companies. A financial holding company shall not inject capital falsely or circularly into financial institutions.

　　Fifth, strengthen corporate governance and related party transaction supervision.. A financial holding company should have a concise, clear and penetrating shareholding structure, participate in the corporate governance of the financial institutions it controls according to law, and must not abuse its substantive control rights. Shall not conceal related party transactions and the true whereabouts of funds.

　　Sixth, improve the risk "firewall" system. Financial holding companies should establish a unified comprehensive risk management system to reasonably isolate internal cross-employment and information sharing.

　　Seventh, set a reasonable transition period.. Allow existing enterprise groups that do not meet the requirements of the Measures to carry out rectification within a certain period of time to promote a smooth transition.

　　After the public consultation, the People’s Bank of China will further revise and improve the Measures in conjunction with relevant departments according to feedback from all walks of life.

　　Here come the 20 main points.

　　From the central bank’s answer to reporters’ questions and the full text of the draft for comments, the following 20 points can be sorted out.

　　1. Why is this method formulated?

　　Financial holding companies invested by non-financial enterprises blindly expand into the financial industry, and there is a regulatory vacuum, and risks are constantly accumulating and exposed.

　　The main manifestations are as follows: First, the risk isolation mechanism is missing, and financial risks and industrial risks are cross-transmitted.

　　Second, some enterprises have complex control or benefit relationships and strong hidden risks.

　　Third, there is a lack of overall capital constraints, and some groups as a whole lack real capital that can resist risks.

　　Fourth, some enterprises improperly interfere in the operation of financial institutions, and use related party transactions to conceal their interests and harm the rights and interests of financial institutions and investors.

　　2. Penetrating supervision

　　In view of the complex structure of financial holding companies, it emphasizes the thorough supervision of equity and funds, accurately identifies the actual controller and the ultimate beneficiary, and prevents the real control relationship from being hidden.

　　Through the verification of the authenticity of the sources of funds, including the sources of funds for investment in financial holding companies and the sources of funds for investment in financial institutions, to prevent false capital injection and circulating capital injection.

　　3. The central bank implements supervision.

　　The People’s Bank of China shall supervise the financial holding companies that meet the conditions for the establishment of the Measures, and the financial supervision department shall supervise the financial institutions controlled by the financial holding companies.

　　Financial supervision departments supervise financial groups formed by cross-industry investment and holding of financial institutions. When the risk occurs, according to the principle of "who supervises, who is responsible", the corresponding regulatory body will take the lead in risk disposal. Strengthen supervision cooperation and information sharing among various departments to jointly guard against the risks of financial holding groups and financial groups.

　　4. What are the financial holding companies?

　　A financial holding company is defined as a limited liability company or a joint stock limited company that is established according to law, has substantial control over two or more different types of financial institutions, and only conducts equity investment management and does not directly engage in commercial business activities.

　　The Measures apply to financial holding companies whose actual controllers are domestic non-financial enterprises and natural persons. For financial groups formed by cross-industry investment and holding of financial institutions, the financial supervision department shall implement supervision according to the Measures and formulate specific implementation rules.

　　5. Financial institutions include the following six types:

　　Commercial banks (excluding village banks), financial leasing companies, trust companies, financial asset management companies, securities companies, fund management companies, futures companies, life insurance companies, property insurance companies, reinsurance companies, insurance asset management companies, and other financial institutions recognized by the financial management department.

　　6, to apply to the central bank in advance to set up a financial holding company.

　　Non-financial enterprises and natural persons who meet the conditions stipulated in Article 6 of the Measures shall apply to the People’s Bank of China for the establishment of a financial holding company or for the parent company of the group as a financial holding company. Among them, those who have met the requirements of Article 6 before the implementation of the Measures shall apply to the People’s Bank of China within 6 months from the date of implementation of the Measures. After the implementation of the Measures, if it intends to substantially control two or more different types of financial institutions, and it has the circumstances stipulated in Article 6 of the Measures, it shall also apply to the People’s Bank of China. Relevant implementation rules will be formulated separately.

　　7. These cases are not registered.

　　If an institution that meets the requirements for the establishment of a financial holding company fails to apply to the People’s Bank of China in accordance with the Measures, or the People’s Bank of China may, in conjunction with the relevant financial regulatory authorities, order it to make corrections. If it fails to make corrections within the time limit, it shall be ordered to transfer the equity of the financial institution it holds. Without the approval of the People’s Bank of China, a financial holding company shall not be registered as a financial holding company, and the words "financial holding", "financial control" and "financial group" shall not be used in its name.

　　8. What are the business scopes of financial holding companies?

　　The main business of a financial holding company is equity management of the financial institutions it invests in. In addition, in order to urge financial holding companies to strengthen the overall liquidity management and risk management and control of the group, so that they can provide liquidity support to the financial institutions they hold, or play a self-help role to the financial institutions they hold in case of risks, the Measures allow financial holding companies to carry out other financial businesses except equity management on the premise of obtaining approval from the People’s Bank of China.

　　9. Strictly isolate the financial sector from the industrial sector.Block, a financial holding company shall not engage in non-financial business.

　　From the perspective of based on the main business and risk prevention, financial holding companies are enterprises specializing in equity investment and management of financial institutions, and are not allowed to engage in non-financial business, so as to strictly isolate the financial sector from the industrial sector and effectively prevent cross-infection of risks.

　　Under the premise of strictly isolating risks, financial holding companies established by enterprise groups are allowed to invest in institutions related to financial business identified by financial management departments, but the book value of total investment shall not exceed 15% of the net assets of financial holding companies in principle.

　　For existing enterprises that do not meet the requirements, they are allowed to gradually adjust the proportion of investment in non-financial enterprises during the transition period. If the enterprise group as a whole is recognized as a financial holding group, its non-financial total assets shall not be higher than 15% of the total assets of the group.

　　10, positive list and negative list, clear financial holding company shareholders’ conditions.

　　Some enterprises are not strong in strength, impure in investment motives, weak in risk management and control ability and compliance management concept. They set up or become shareholders in financial holding companies only to obtain more financial licenses, or even use financial holding companies to carry out improper related party transactions and extract funds from financial institutions, which brings greater risks to financial institutions and financial holding companies.

　　The Measures clarify the conditions for becoming a shareholder of a financial holding company through a positive list and a negative list.

　　From the positive list, the major shareholders, controlling shareholders or actual controllers of financial holding companies should highlight their core business, have pure investment motives, formulate reasonable financial investment business plans, not blindly expand into the financial industry, and have perfect corporate governance structure, clear ownership structure and organizational structure, transparent shareholder and beneficial owner structure, strong management ability, effective risk management and internal control mechanism, and good financial status.

　　From the negative list, it is clear that the controlling shareholder of a financial holding company is prohibited from engaging in acts, and that it is not allowed to become a major shareholder, controlling shareholder or actual controller of a financial holding company. For example, it has made false investments and injected capital into financial institutions in a circulating way, and it has been responsible for the failure or major violations of financial holding companies or financial institutions.

　　11, strengthen the supervision of financial holding companies’ sources of funds.

　　Some enterprises, through controlling financial institutions at different levels and cross-holding financial institutions, contributed with debt funds, which pushed up the overall leverage ratio and manipulated shell companies to make false capital injection and circulating capital injection, resulting in the whole group not having much real capital to resist risks.

　　To this end, the supervision of financial holding companies’ sources of funds emphasizes authenticity:

　　First, the source of funds is true and reliable. Shareholders of a financial holding company shall invest in the financial holding company with legally owned funds, and shall not invest in the financial holding company with non-owned funds such as entrusted funds, debt funds and investment funds, and shall not entrust others or accept others’ entrustment to hold the equity of the financial holding company.

　　Second, a financial holding company shall invest in holding financial institutions with its own legal funds, and shall not make false capital injection or circulating capital injection into financial institutions, and shall not withdraw funds from financial institutions.

　　The third is to carry out penetrating management on the capital compliance of financial holding companies, check the source of funds of investment holding financial holding companies upwards, and check the source of funds of investment holding financial institutions downwards.

　　The fourth is to establish a capital adequacy supervision system.

　　12. Concise, clear and penetrating ownership structure

　　Some enterprise groups have complex ownership structure, cross-shareholding, multi-level shareholding, insufficient information disclosure, unclear beneficial owners, and nested groups within the group.

　　The Measures stipulate that a financial holding company should have a concise, clear and penetrable shareholding structure, which can be identified by the actual controller and the ultimate beneficiary, and the legal person level is reasonable, which is suitable for its own capital scale, operation and management ability and risk management and control level. The financial institution it controls shall not hold shares in reverse or cross-shareholding.

　　13, the ownership structure does not meet the need for timely rectification.

　　An enterprise group that should apply for the establishment of a financial holding company from the date of implementation of the Measures, but its shareholding structure does not meet the requirements, shall formulate a plan for the rectification of its shareholding, and after being approved by the financial management department, reduce the complexity of its organizational structure and simplify the legal person level during the transition period. In the process of equity transfer, if the assets involved in equity integration, transfer and transfer within an enterprise group are in compliance with the provisions of tax policies, they can enjoy corresponding preferential tax policies; Where the approval of shareholder qualification is involved, the financial management department shall apply the shareholder qualification conditions suitable for the financial holding company.

　　14, shall not exceed level 3.

　　After the implementation of the Measures, the newly-added financial holding companies, shareholders of financial holding companies, financial holding companies and financial institutions controlled by them shall not exceed level 3 in principle.

　　15. A financial holding company shall not abuse its substantive control rights.

　　A financial holding company shall not abuse its substantive control right, interfere with the independent operation of its controlled institutions, and damage the legitimate rights and interests of its controlled institutions and their related stakeholders.

　　16. Strengthen related party transaction management.

　　Strengthening the management of related party transactions is an important measure of strict risk isolation. In practice, some enterprises use the hidden ownership structure to transfer benefits through improper related party transactions, and regard financial institutions as "cash machines", which seriously damages the legitimate rights and interests of financial institutions and investors.

　　17. Establish a negative list of prohibited related party transactions.

　　First, financial holding companies should strengthen the management of related party transactions, and their intra-group transactions with controlled financial institutions, between controlled financial institutions and between controlled financial institutions and other institutions in the group, as well as related party transactions with other related parties, should be in compliance with the law.

　　Second, a financial holding company and its financial institutions and other related parties shall not conceal related party transactions and the true whereabouts of funds, and shall not transfer interests, evade supervision or regulatory arbitrage, damage the legitimate rights and interests of others, or damage the stability of the financial holding company through related party transactions.

　　Third, except for financial companies, financial institutions controlled by financial holding companies are prohibited from providing financing to financial holding companies or providing unsecured financing to other related parties. The financing or guarantee provided to related parties shall not exceed 10% of the registered capital of the financial institution or 20% of the registered capital of the related party. Financial institutions and non-financial institutions controlled by financial holding companies are prohibited from accepting the equity of financial holding companies as pledge targets, and the guarantee balance of financial holding companies outside financial holding groups shall not exceed 10% of the net assets of financial holding companies.

　　18. The central bank has these regulatory means and measures.

　　First, establish a unified supervision information platform for financial holding companies, and require financial holding companies to report and disclose information according to regulations.

　　The second is to establish and improve the risk assessment system of financial holding groups, and comprehensively use macro-prudential policies, financial institution ratings and other policy tools to assess the management and risk status of financial holding groups.

　　Third, according to the needs of performing their duties, conduct supervision talks with relevant responsible persons, conduct on-site inspections of financial holding companies, and conduct on-site inspections of financial institutions controlled by financial holding companies with the approval of the State Council when necessary, on the basis of supervision and cooperation.

　　Fourth, the financial holding company is required to formulate the overall recovery and disposal plan of the financial holding group.

　　Fifth, when a financial holding company violates the Measures or has a major risk, it will take regulatory measures such as restricting its business activities, restricting dividends or related rights, ordering it to replenish capital within a time limit, and ordering it to transfer its equity, and give it warnings, fines and other penalties.

　　Sixth, if it is difficult for financial holding companies to operate continuously, which will seriously endanger the financial order and harm the public interest, they should withdraw from the market according to law. Relevant implementation rules shall be formulated separately by the People’s Bank of China in conjunction with relevant departments.

　　19. Transition period

　　If an enterprise group that existed before the implementation of the Measures and meets the conditions for the establishment of a financial holding company fails to meet the regulatory requirements stipulated in the Measures in terms of the ownership structure, the proportion of institutions related to investment and financial business, and the part-time jobs of senior managers, it will be rectified within a certain period of time with the consent of the financial management department, and the specific period will be determined by the financial management department according to the actual situation of the enterprise group. At the end of the transition period, these enterprises should meet the regulatory requirements of the Measures and be accepted by the financial management department. For the increment, it will be implemented in strict accordance with the requirements of the Measures.

　　20. What is the impact on the financial market?

　　The impact on financial institutions, non-financial enterprises and financial markets is positive and the risks are controllable.

　　Some enterprise groups that do not meet the requirements need to carry out equity integration, but the equity transfer is carried out within the group and the actual controller has not changed, so the impact on financial institutions is limited.

　　In the long run, the "Measures" are conducive to controlling financial chaos, rectifying financial order, and ultimately preventing systemic financial risks.