分类： khkhjk

Author | Liu Yilong

On February 18th, according to the news from the Supervision Committee of the Yunnan Provincial Commission for Discipline Inspection, Sun Yun, former deputy secretary-general of the Yunnan Provincial People’s Government and a member of the Party Group of the General Office, was expelled from the Party and public office for serious violation of discipline and law.

Zheng Zhijun noticed that Sun Yun had engaged in political clings, paid bribes to Qin Guangrong, former secretary of the Yunnan Provincial Party Committee, and helped Qin Guangrong’s brother-in-law and friend of political broker Su Hongbo to undertake projects in Chuxiong.

Sun Yun, male, Han nationality, born in February 1966, Tongwei, Gansu Province, holds an in-service doctoral degree.

According to reports, Sun Yun has recalled his poor youth many times. He once told students in a school in Chuxiong that "I didn’t have the first sip of milk until I went to college".

According to public information, Sun Yun once worked in caams, and served as deputy director of the Engineering Center, minister of planning and development, assistant dean and minister of planning and development.

In October 2011, Sun Yun went to Yunnan as a doctoral service group and served as the deputy governor of Chuxiong Prefecture Government of Yunnan Province (until May 2015). In October 2012, Sun Yun was appointed Deputy Secretary of the Party Committee of China Fuma Machinery Group Co., Ltd.

According to the previous disclosure of "Looking at Integrity", some local people in Chuxiong recalled that when Sun Yun just came, he was equipped with a red flag car. At that time, other state leaders mostly took Toyota off-road vehicles, and there was also a cadre who came to work from the central government and was also equipped with Toyota off-road vehicles. Sun Yun is quite critical of this and thinks that some people look down on themselves.

In May 2015, Sun Yun was appointed Deputy Secretary of Chuxiong State Committee of Yunnan Province.

In May 2016, Sun Yun became the Party Secretary and Chairman of Yunnan Investment Holding Group Co., Ltd. Three years later, he took up his post as Deputy Secretary-General of Yunnan Provincial People’s Government (director level) and a member of the Party Group of the General Office.

In August 2020, Sun Yun was investigated. In May 2021, he was prosecuted.

According to the prosecution’s allegations, during his tenure as Party Secretary and Chairman of Yunnan Investment Holding Group Co., Ltd., Sun Yun abused his power and violated the decision-making procedures, causing serious losses to state-owned companies and particularly heavy losses to national interests. Taking advantage of his position as party secretary and chairman of Yunnan Investment Holding Group Co., Ltd., he seeks benefits for others and illegally accepts other people’s property, which is extremely huge; Embezzlement of public property is huge. In order to seek illegitimate interests, it is especially serious to pay bribes to people who are closely related to state functionaries.

Sun Yun’s double-opening circular pointed out that it was for promotion, networking, finding ways and engaging in political speculation; Bad political conduct, instructing others to make anonymous and malicious reports; Bold, against the patrol; Violation of the rules of procedure, the implementation of the "three majors and one big" system is seriously lacking; Refuse to implement organizational and personnel arrangements, cronyism and exclusion of dissidents, and seek benefits for others in job promotion and employee recruitment; Privately set up a "small treasury" and use the funds of the "small treasury" to buy high-end health care products; Abuse of power caused heavy losses of state-owned assets.

Sun Yun worked in Chuxiong Prefecture.Hou Xinhua, a fallen horse official’s deputy.

Hou Xinhua served as secretary of Chuxiong State Party Committee from February 2015 to August 2017, when Sun Yun was deputy secretary of Chuxiong State Party Committee.

According to media reports, Hou Xinhua once asked districts and counties to cooperate with specific enterprises, but it was dragged by some districts and counties. Hou Xinhua was very angry and decided to move cadres. He proposed that a person in charge of a district or county should be transferred to the state as the director. When discussing this topic, several members of the Standing Committee of the State Committee expressed reservations, but Sun Yun stood up and actively supported it.

In August 2017, Hou Xinhua was investigated.

According to the news from the Supervision Committee of the Yunnan Provincial Commission for Discipline Inspection, during the conversation between the task force and Hou Xinhua from the end of July to the beginning of August 2017, although he kept saying that he was fine, he was very scared. According to the investigators, Hou Xinhua destroyed the calling card and threw it into Dianchi Lake, and took out the hard disk for monitoring and storage in the villa to destroy it, and arranged for his son to buy 10 old mobile phones and 10 calling cards for his family, drivers and others to contact him and discuss the transfer of items.

During this period, Hou Xinhua arranged for his son to transfer his family’s cash, watches, jade and other valuables to a friend’s home in Kunming. Upon inspection of the above items, the total cash is RMB 3.32 million, US$ 60,000 and HK$ 300,000. In addition, there are 10 expensive watches, 25 jade ornaments, and a large number of expensive gifts such as tobacco and alcohol, which are scattered and transferred to the homes of many friends and relatives.

After being investigated, Hou Xinhua and the personnel of the initial nuclear group made a fool of themselves, swore and swore, pretended to be crazy and sold silly, and pointed to the talkers and swore at them, refusing to explain the problem.

In addition, China Discipline Inspection and Supervision also revealed that Hou Xinhua had been "hunted" by unscrupulous businessmen.

Back to Sun Yun.

In May 2016, when Sun Yun took up the post of Party Secretary and Chairman of Yunnan Investment Holding Group Co., Ltd., the former Bao Minghu was just investigated.

From December 21, 2018 to January 21, 2019, the Tenth Inspection Team of Yunnan Provincial Party Committee conducted a patrol on the Party Committee of Yuntou Group.

In March 2019, the inspection team of Yunnan Provincial Committee gave feedback on the inspection to the Party Committee of Yuntou Group. At that time, the feedback from the inspection team included "the impact of eliminating the serious violation of discipline and law by Bao Minghu was not thorough".

In the case of Xu Lei, former chairman of Yunnan Chengtou Group, Sun Yun was also involved.

According to the news report, Xu Lei and Qin Guangrong are fellow villagers in Hunan, who have been the top leaders of the city investment group for more than ten years, and the amount involved is as high as tens of millions of yuan. According to people familiar with the matter, dozens of wealthy businessmen in the financial and construction fields in Kunming were called to ask questions to understand the situation because of Xu Lei’s case. These wealthy businessmen also have business dealings with Yuntou Group, and some people who paid bribes to Xu Lei also paid bribes to Sun Yunling.

In May 2019, Qin Guangrong, former secretary of the Yunnan Provincial Party Committee, took the initiative to surrender.The following month, Sun Yun was transferred to the post of Deputy Secretary-General of Yunnan Provincial People’s Government.

A person who knows the inside story once told Integrity Watch that during the investigation of Qin Guangrong, Su Hongbo and other related cases, he grasped the clues about Sun Yun’s political attachment, bribing Qin Guangrong and helping Qin Guangrong’s brother-in-law and Su Hongbo’s friends to undertake projects in Chuxiong.

Su Hongbo, male, Han nationality, worked in the training center of Yunnan Provincial Planning Commission, and was a political broker. After Qin Guangrong became the secretary of the provincial party committee, he was both fearful and courting Su Hongbo. When selecting cadres, Qin Guangrong took the initiative to say to Su Hongbo: "Do you have anyone suitable to recommend?" "If you want to change your post, just say what cadres you have."

A person in Yunnan officialdom once told the media, "Sun Yun took bribes and then went up to pay bribes. You give all your salary to Qin Guangrong, which is not enough to plug people’s teeth. "

Information | China Discipline Inspection and Supervision News Yunnan Provincial Commission for Discipline Inspection and Supervision website Integrity Watch News People’s Network, etc.

Proofreading | Luo Jing

Do you know where to learn first aid knowledge and skills? Do you know how to become a member of the Red Cross? How should I sign up if I want to participate in volunteer activities? The "Digital Red Cross" launched by "Zheli Office" can solve these problems for you.

The Red Cross Society of Zhejiang Province, based on the "Zhejiang Office" system, focuses on high-frequency matters of serving the masses and creates a "Digital Red Cross" humanitarian service window.

The "Digital Red Cross" humanitarian service window has launched seven services (services) applications, such as love donation, love in Zhejiang, first aid in Zhejiang, hematopoietic stem cell donation, human organ donation, membership service and volunteer service, as well as the acceptance of donations.

Service steps

Provide non-restrictive, public fundraising projects and other donation channels for caring people and enterprises (units), realize one-click quick donation, and apply for electronic donation certificates and bills immediately.

There is love in Zhejiang

People in difficulty can ask for help online according to the application conditions of relief projects. At present, it has been on the "mother-baby platform" public welfare project, which is used to help high-risk pregnant women and their newborns from families with foreign difficulties who are in critical condition and have high hospital delivery expenses.

Zhexue emergency treatment

Online emergency rescue cloud class is convenient for the masses to systematically learn first aid courses such as trauma rescue and cardiopulmonary resuscitation, as well as knowledge and skills such as disaster prevention and avoidance, self-help and mutual rescue. Using the training reservation system under the connection, the masses can sign up for the practical training of Red Cross ambulance workers and conduct assessment and evidence collection.

Hematopoietic stem cell donation and human organ donation

To provide convenient and fast voluntary registration channels such as donation of hematopoietic stem cells and donation of human organs (remains and tissues) for the people with great love spirit, and bring new hope to more seriously ill patients.

Member service and voluntary service

If you want to become a member or volunteer of the Red Cross, you can apply online and fill in the Application Form. After being submitted for approval, you can become a member or volunteer of the Red Cross. The membership service application also provides services such as payment of membership fees, transfer and withdrawal. Red Cross volunteers can choose to join volunteer service groups and participate in (initiate) Red Cross volunteer service activities in the application of volunteer service. Volunteer service applications are connected to "Volunteer Zhejiang", and the personal information, volunteer service records and service duration of Red Cross volunteers are automatically collected into "Volunteer Zhejiang" and included in the unified management of volunteer services in the province.

Donations are accepted and publicized.

Immediately publicize the acceptance and use of social donations by the Provincial Red Cross Society, provide one-click donation function, effectively protect the right to know, participate and supervise of donors and the masses, and make the Red Cross work always run in the sun.

Recently, the Nordic countries Finland and Sweden have clearly announced that they will formally apply to NATO for membership in June. In this regard, Russia not only issued a severe warning, but also recently directly deployed the "iskander" ballistic missile to the Finnish border. According to the data, the missile has a range of 500 kilometers and can carry nuclear warheads. It seems that Finland and Sweden are determined to join NATO, and Russia is also impolite, directly enhancing nuclear deterrence. In order to help Finland and Sweden reduce the pressure from Russia,The United States and Britain have stated that they will provide security protection for the two countries. After that, the Nordic countries also made security commitments to Finland and Sweden. However, Turkey, a member of NATO, has poured cold water on it.

According to the report of the Global Times on May 18th, recently, the Nordic countries Sweden and Finland have confirmed that they will submit formal applications for joining NATO, and NATO Secretary General Stoltenberg also said that they will let the two countries join NATO with "the fastest speed". For Finland and Sweden, at present, the two countries are in a very dangerous situation, because Russia has always opposed the two countries becoming NATO countries. This time, the Nordic countries jointly applied to join NATO, which is to break the ground at the age of three and openly oppose Russia. Everyone is worried about how Putin and the warring nations will respond and whether a new war will break out.

Therefore, for Sweden and Finland, the period between submitting their applications and formally becoming NATO countries is undoubtedly the most dangerous. Russia may take military action against them, but at this time they are not members of NATO, and NATO cannot provide them with comprehensive military support.

In order to ensure the smooth entry of the two countries, the core members of NATO, the United States and Britain, have successively provided security guarantees to these two countries. NATO Secretary General Stoltenberg also said that as long as the two countries submit their applications, NATO will provide them with military protection, that is, escort them to join NATO. It is noteworthy that after the United States and Britain, three other Nordic countries have also made security commitments to Sweden and Finland.

Denmark, Iceland and Norway recently issued a joint statement, which clearly promised that if the two countries were attacked in the process of applying to join NATO, the three countries would fully provide them with security assistance. That is to say, although Sweden and Finland are still in the stage of submitting applications and have not yet become full members of NATO, they have begun to enjoy the security guarantee that only some NATO members can enjoy. Then, why should the United States, Britain and the Nordic countries scramble to provide security guarantees for the two countries? This may be due to the following reasons.

First of all, the US-led NATO military bloc has long intended to attract Sweden and Finland to join. Sweden is a military power in northern Europe, and Finland’s geostrategic position is very important. It controls the Gulf of Finland, which is the only seaport for Russia to enter the Baltic Sea and the only sea route for Russia to maintain contact with the mainland in Kaliningrad, an "enclave" in Europe. In addition, Finland faces Russia’s most prosperous western city across the sea, only about 170 kilometers away from St. Petersburg, Russia’s second largest city. Once Finland becomes a NATO country, there will never be peace in western Russia.

Secondly, the United States, Britain and the Nordic countries decided that Russia would not make moves at this time to prevent the two countries from joining NATO. On the one hand, Russia has fallen into a long-term military conflict with Ukraine, and two-front operations are not good for the fighting nations; On the other hand, the United States and Britain believe that knowing that NATO has provided military security guarantees to the two countries, Russia probably will not risk a direct conflict with NATO and send troops to Finland or Sweden.

In addition, Russia’s economy does not support two or even three high-intensity military operations at the same time.

Finally, the United States, Britain and the Nordic countries also want to strengthen the determination of the two countries to join NATO. However, it should be pointed out that if the two countries want to join NATO, they must get Turkey’s consent. As long as one NATO country doesn’t agree, they can’t become NATO countries. Recently, Turkish President Erdogan has publicly said that it is futile for the two countries to join NATO, because Turkey will not agree, because the PKK, a terrorist organization identified by Turkey, can freely conduct political activities in these Nordic countries, and Turkey has always regarded Sweden and Finland as a "semi-hostile country". Therefore, if the two countries really want to become a member of NATO, I am afraid it is not so smooth, and they must transfer their interests to Turkey.

On February 18th, in order to maintain liquidity in the banking system’s reasonable abundance, the People’s Bank of China (hereinafter referred to as the "Central Bank") launched 105 billion yuan open market reverse repurchase operation and 500 billion yuan medium-term loan facility (MLF) operation. Among them, the 7-day reverse repurchase winning bid rate and MLF winning bid rate remained unchanged at 1.8% and 2.5% respectively. Due to the maturity of 499 billion yuan MLF in February, the central bank realized a net investment of 1 billion yuan in MLF, which was a sequel to the excess parity.

MLF interest rate is the central bank’s medium-term policy interest rate, which together with the 7-day reverse repo rate in the open market constitutes the central bank’s policy interest rate system. Although the MLF interest rate "staying put" means that the pricing basis of the loan market quotation rate (LPR) has not changed in February, some experts believe that the central bank’s RRR reduction and "targeted interest rate reduction" in early February are expected to drive the LPR quotation to be lowered separately.

Continuing the over-cropping, the MLF net investment in February was 1 billion yuan.

On February 18th, the central bank launched the MLF operation of 500 billion yuan, and the net investment of MLF in that month was 1 billion yuan, and the winning bid rate of MLF remained unchanged, realizing the continuation of excess parity.

Medium-term lending facilities and other liquidity tools can provide strong support for the total social financing and the reasonable growth of money and credit. In the past year, the central bank continued to renew MLF in excess every month, which promoted a moderate amount of money and credit and a stable pace. In the first two months of 2024, the central bank continued to over-renew MLF to maintain a reasonable and sufficient liquidity.

Wang Qing, chief macro analyst of Oriental Jincheng, believes that the first quarter of 2024 has entered a critical stage of steady growth. The excessive continuation of MLF will help to increase the medium and long-term liquidity of the banking system, support credit growth and the issuance of government and corporate bonds, and at the same time encourage banks and other financial institutions to participate in the resolution of local debt risks.

However, after the central bank launched the RRR cut operation at the beginning of the month and provided long-term liquidity of 1 trillion yuan to the market, the net investment scale of MLF in February was only 1 billion yuan. Some viewpoints believe that the continuation of MLF in February is mainly to release positive signals and reflect the total strength of monetary policy. Pang Yao, chief economist and research director of Jones Lang LaSalle Greater China, pointed out that the small increase in MLF in February may have the consideration of preventing capital arbitrage and capital idling and promoting the steady downward movement of the capital interest rate fluctuation center.

In terms of price, the MLF interest rate remained unchanged in February, which was in line with market expectations. At present, the economic operation continues to recover. In January, the financial data achieved a "good start", and after the central bank lowered the interest rates for small loans and rediscounts provided to financial institutions to achieve a "targeted interest rate cut", market institutions generally expected that the possibility of lowering the MLF interest rate was low.

In the view of Li Chao, chief economist of Zheshang Securities (601878), MLF interest rate adjustment is also constrained by exchange rate pressure in the short term. He believes that the current follow-up trend of the Federal Reserve’s monetary policy and the US fiscal policy is still uncertain, and the RMB exchange rate may remain volatile in the short term.

LPR quotation in February is expected to go down.

MLF interest rate is the central bank’s medium-term policy interest rate, which together with the 7-day reverse repo rate in the open market constitutes the central bank’s policy interest rate system. Although the MLF interest rate "staying put" means that the pricing basis of the loan market quotation rate (LPR) has not changed in February, some experts believe that the central bank’s RRR reduction and "targeted interest rate reduction" in early February are expected to drive the LPR quotation to be lowered separately.

In the fourth quarter of 2023, major domestic banks successively lowered the deposit interest rate, which eased the cost pressure on the debt side of banks. On January 25th, the central bank lowered the interest rate of small loans and rediscounts provided to financial institutions from 2% to 1.75%. Pan Gongsheng, governor of the People’s Bank of China, recently said at the press conference of the State Council Office that all these measures will help promote the quoted interest rate of the loan market, which is the benchmark of credit pricing, "that is, we call LPR down".

Insiders pointed out that since 2022, banks have actively lowered the deposit listing interest rate for four times, and the cost pressure on the debt side of commercial banks has been effectively alleviated, which has created favorable conditions for further reducing the credit cost of enterprise residents and improving the sustainability of the real economy.

At present, there is still a distance between the price level and the expected price target. Even if the nominal interest rate continues to decline, the low price level also leads to the high real interest rate. The People’s Bank of China’s Monetary Policy Implementation Report of China in the Fourth Quarter of 2023 clearly stated that it is necessary to "further promote the interest rate marketization reform and smooth the transmission channels of monetary policy." Zhong Lin Nan, a macro analyst of GF Securities (000776), said that this may refer to guiding commercial banks to reduce the entity financing cost on the basis of lowering the deposit interest rate and reducing the debt cost in the early stage, and transmitting the downward debt cost of financial institutions to the entity financing cost.

Many experts believe that the central bank’s comprehensive RRR cut and "targeted interest rate cut" will help promote the downward trend of LPR. In order to further reduce the financing cost of the entity sector, it is highly probable that the LPR quotation will be lowered in February. Wang Qing believes that the LPR quotation in February may be lowered separately, and it is expected that the LPR quotation for one year and more than five years will be lowered by 5 basis points respectively.

This article was first published on WeChat WeChat official account: China, a broker. The content of the article belongs to the author’s personal opinion and does not represent Hexun.com’s position. Investors should operate accordingly, at their own risk.