Following the twenty-two million “higher melts” in September, in October, the social melted down into the lower valley, with only 788 million people. After deductions (local government-specific debt, cancellation of loans, securitiesization of deposit-type financial assets) the stock of old calibre agencies has fallen to a low of 8.6 per cent.

Unexpected credit

From the social melting sub-item in October, credit was 74.1 billion, less than it had been in the past three years (6635, 6010, 557.4 million).

The rapid decline in credit rings in October should also be justified by the temporary shortage resulting from the centralization of credit projects in late September, as well as by the apparent bias in working days due to the impact of State holidays.

However, since this year’s non-marking (trunch lending + credit) contracted significantly, the dependence of the community on credit in the form was more than 90 per cent, and, with a series of strong stimulus policies that were recently concentrated on rapid release, expectations of credit expansion that underpin the smoothness of the organization were very high.

In this context, there were slightly more than 70 billion credits in October. Social integration is low and not expected for the market.

However, in the short term, the current policy on entrepreneurship and microenterprises can be said to have been extremely successful, and in such a policy environment, why in October credit was still “constrained”? Are there strong backlashes to follow?

In this regard, we have the following judgements:

Policy has in fact yielded some results.

In our September social melting assessment (220 million hospitals), it was stated that in the first half of this year, about 70 per cent of the holders of exchange tickets were small and medium-sized enterprises, with more accounts receivable and more paper-based solutions in dealing with or trading with large enterprises.

Banks also tend to favour low-risk instruments in order to achieve policy requirements in the face of high real credit risk and policy requirements, so that the financing of instruments has been increasing at a very high level, and the maintenance of bank reconciliations has been ongoing.

Data for the month of October also perpetuate this trend, which is a central reflection of policy effectiveness.

At the same time, since the policy stimulus for the expansion of the business sector was concentrated in late October, local embarrassment and local supervision under the supervisory team were sometime in early November, and further policy lay ahead. More significant data should be on social integration and credit in November.

2 The decentralized effects of credit.

Unlike this bandwidth credit and the years 2012-2013 and 2015-2016, the main vehicle on which credit is delivered - land production and urban drop-outs are not regulated, and policy focus is mainly on private and small enterprises.

While their numbers are large and their contribution to the economy is considerable, (1) they are small in size; and (2) they are more diversified in the sources of financing for business and expansion, especially micro-enterprises, relying more on inner-source financing, i.e., money obtained by business owners or from relatives.

Banks are required to select high-quality customers in larger, large-scale and small-scale enterprises with more credit-related qualifications and more difficult and cost-effective than previously urban-oriented and home-based enterprises.

In such a case, the previous crediting of 1 billion dollars would require only two or three cities or businesses to be found, and it may now require twenty, thirty or even 100 people to be oriented towards small businesses.

The requirement of such a high degree of fragmentation is therefore very difficult for banks to implement regulatory and authority policies on a broad scale, requiring time and corresponding system-building.

3 Other factors.

This is mainly reflected in the shrinking demand for finance from the chain of origin, which is continuously regulated.

These include, in particular, reduced capital spending due to weak demand in the non-financial business sector, such as housing, construction, home-based furniture, etc., as well as a further reduction in long-term loans to the population resulting from reduced willingness to purchase housing in the residential sector.

According to data, this year’s medium- to long-term loans for the population were weaker than 2017 per month, and the increase in mortgages for personal housing disclosed by the central bank declined again in three quarters by 0.5 to 17.9 per cent.

This strength will continue to grow in the future in a confrontation with policy-driven expansion.

New changes in bond financing

The bond financing component, with a total volume of $138.1 billion and an improved cycling ratio, is still significantly lower than in July-August (21.2 billion, 32.7 million); structurally, the problem of “poverty-friendly” remains prominent.

The credit calibre is based on an enterprise debt + moderate plus short melt + corporate debt, with net financing of the various rating agencies in October reaching 16 billion, while AA+ and the ratings below are -3.9 billion.

There are, however, some subjects, and low- and medium-rated bond financing has improved marginally, such as in urban areas.

For example, the low-to-medium-rated issuance interest rate is lower, the weighted distribution rate has fallen to 6.42 per cent since November, the purchase price is higher, banks are also increasing their corporate debt, and market allocations to cities are gradually being restored.

We understand that this is mainly due to:

1. The maturity of the original assets of part of the bank’s well-established product, with pressure to replenish high-yielding assets;

2. As a result of the need for infrastructure at the bottom of the economy, document 101 also clearly indicates the risk of preventing the resolution of hidden debt, with some investors expected to shift their control over the city, with a view to burying the left side;

3. High-level yield rates have been higher, valuing throws has been reduced and some investors have the will to follow passively with low- and medium-rated cities.

In the future, whether this could continue to expand and whether there would be further improvements in public debt (which are now more active in the secondary market), we need further observation.

Foreign currency loans that cannot be ignored

In October, in addition to the traditional non-mechanism (trunchary loans + credit), there was a constant contraction of over 20 billion tugs, and a reduction of 80 billion foreign currency loans was a matter of concern.

This size is the third largest contraction after the non-target, and is also an important cause of social disintegration.

From its current point of view, foreign currency loans were transferred in April, while popular currency began to be converted mainly in April.

It was questioned whether the number of visitors to the port was not as limited as expected, and the Managing Director of Oxfam stated that, depending on the market situation, the operating model would be adjusted in due course, the “UNMOP Leaving” hotel, which had been suspended during the outbreak, would be reopened on 14 July, and that a series of new projects would be launched, he was confident that the performance of the hors would continue.

As to whether there would be a promissory price, he said that it was not published. The Mo Wei Division anticipates that in the coming year, the proportion of visitors will be 3 minutes each in local, inland and overseas.

According to the results of the uniform regional gross production accounting, the total regional production value of $765,990 million was achieved quarterly, at constant prices, at 5.3 per cent.

Hu Xiaoley said that “smoking” was mainly manifested in the overall smooth functioning of the economy and the full recovery of production supplies. Production in the first industry is stable. The wheat, oil and vegetable seedlings have grown more than last year, with a steady increase in crop yields and a steady increase in livestock. The second sector grew steadily. Industrial growth grew by 3.2 per cent, stimulating economic growth by 1.3 per cent, construction by 10.5 per cent and propelled economic growth by 0.7 per cent. The third industry resumed rapidly. The increase in services by 6.5 per cent and the growth of GDP by 3.3 per cent are “active” for economic growth.

The “introduction” is mainly reflected in the shift in major economic indicators and the growing economic dynamism. Hu Xiaoley said that, in the first quarter, the GDP growth rate for the province as a whole accelerated by 0.2 percentage points over the same period of the previous year, 0.8 percentage points per country and ranked eighth in the country, 12 more than the previous year.

The share of the non-public economy has increased. A quarterly increase in the non-publicized economy of $3,961,79 million, or 51.8 per cent of GDP, was 0.2 percentage points higher than the same period last year. Market operators continue to grow. By the end of March, there were 20.63 million new registered market operators across the province, representing an increase of 33.7 per cent, of which 6.57 million were newly registered businesses and an increase of 63.7 per cent. The total number of “five” enterprises in the province reached 30675, a net increase of 645 compared to the end of the previous year.

“good” is manifested primarily in the depth of the new concept of development, and in high-quality development. Innovative developments are positive. High-technology manufacturing has grown steadily and new product production has accelerated. Coordinated development accelerated. In the first quarter, residents of the province were able to dispose of income of $8306, which was 6.2 per cent higher than the GDP growth rate of 0.9 percentage points, up from 1.1 percentage points nationwide. Rural residents have access to income at the same rate of 7 per cent, urban growth of 5.1 per cent and rural population growth at the rate of 2.42 per cent, a decrease of 0.04 over the same period of the previous year, and a gradual reduction in the urban and rural income gap.

In general, it is possible to achieve stable economic growth and good openings in the face of serious complexities in the international environment, inadequate recovery of domestic demand and more uncertainties, and to build new momentum for later development, make good practices in employment, income, etc., and make progress on the path of high-quality development.

Mrs. Zhang Yimer

So far in his career, curry has sent 1360 steals, tied with Chris Mullin and ranked first in the history of the warriors. Today, curry is expected to set a new record.

Before the game, Cole said about curry: “his defense is much better than people think. He is very smart and tough. His defense is much better than when I first came to the warriors. He has strength, concentration and always gives his best on the court.”

Curry has always been good at attack, and people didn’t recognize his defense before. But now, maybe we should take off our colored glasses. (CHARM)

“Scientific and technological heritage” refers to all kinds of material and intangible cultural heritage created and left over by mankind in the process of historical development, including scientific and technological experiments, scientific and technological research, scientific and technological observation, scientific and technological facilities and equipment, scientific and technological buildings, scientific and technological inscriptions, scientific and technological figures, scientific and technological documents and other heritage types.

Scientific and technological heritage is an indispensable part of China’s national heritage system. For people to interpret the history of China’s scientific and technological progress, refine and inherit the national innovation spirit, enhance the confidence of national culture and scientific and technological innovation ability, and promote people to understand and understand the ancient social science and technology status, development law, scientific and technological role, as well as the ancestors’ view of nature and universe from the perspective of the development process of science and technology, which is of great significance to promote the construction and development of scientific and technological heritage, economy and culture It is of unique value to inherit and carry forward excellent science and technology culture and inspire the innovative development of modern science and technology.

He yunao suggested that we should rely on professional forces to carry out the census, declaration and statistics of scientific and technological heritage nationwide, comprehensively grasp the quantity, distribution and protection status of its resources, classify them, establish archives and databases, and put forward protection measures and development and utilization plans.

Establish a classified and classified national science and technology heritage list system, take mining and carrying forward China’s excellent science and technology culture as the core, based on the whole country, clarify the classification and classification standards, classify according to importance and function.

Actively carry out academic research on scientific and technological heritage. Establish research bases on several topics in national universities or relevant research institutions, carry out systematic and continuous research on China’s scientific and technological heritage, and constantly enrich and explain the various values of China’s scientific and technological heritage.

Establish science and technology heritage museums and heritage parks with different themes to make China’s science and technology heritage and modern science and technology knowledge an important part of the popularization of Science in the whole society.

Build a publicity platform for scientific and technological heritage. Make full use of the information-based conditions, release the achievements of the construction of the national scientific and technological heritage list to the public through various media, publish books, make documentaries or publicity videos, carry out publicity activities, tell the story of China’s scientific and technological heritage, and promote the protection, management, dissemination, activation and utilization of scientific and technological heritage from all aspects of the country and society.

The State formulates and promulgates relevant laws and regulations or work regulations to strengthen the protection, research and utilization of China’s scientific and technological heritage, so as to ensure the healthy development of scientific and technological heritage.

Xinhua Guiyang, December 1 - “solar street lights are installed, and the whole stockade is on. You don’t have to hold a flashlight at night. I really thank the town Party committee and government for helping us fulfill our wishes for many years.” Said Dai Guihui, a villager of Baiyan formation, yuanyan village, longchangying Town, qixingguan District, Bijie City, Guizhou Province.

In April this year, after he and his neighbors put forward their wish to install solar street lamps in the stockade to Zhu Yong, Secretary of the Party committee of longchangying Town, at a courtyard dam meeting, the Party committee and government of longchangying town attached great importance to it and actively mobilized social forces to donate 10 solar street lamps to Baiyan group of yuanyan village, fulfilling the villagers’ dream of traveling at night.

Since the study and education of party history was carried out, qixingguan district has always adhered to the people-centered development thought, asked the people’s needs, solved the people’s worries and alleviated the people’s difficulties, worked hard to solve the grass-roots difficulties and the people’s worries through the establishment of the “four point” model, established and improved the long-term mechanism of “I do practical things for the people”, and continuously promoted the people’s “urgent difficulties and expectations” to be solved, Win the praise of the masses.

The masses “point” gathers public opinion. In accordance with the principle of “asking questions by the masses and solving problems by cadres”, 113 participating units in the region were guided to closely combine the special research of “observing the people’s situation and visiting the public opinion” with the implementation of the “four to work system”, set up more than 1000 “talking points for the masses” in various departments at all levels, and organized party members and leading cadres to listen to and collect the opinions, suggestions and service needs of the masses on a regular basis. Up to now, the whole region has collected and sorted out 55 items and 98 facts about people’s livelihood through the way of “mass questions”, and 77 have been completed; Collect and sort out 738 items of “urgent difficulties and expectations” of the masses, and 694 items have been completed.

The Secretary “points” to solve difficult problems. In line with the concept of “no trivial matter for the interests of the masses, no failure in serving the people and no vacancy in the implementation of responsibilities”, adhere to the work goal of “serving the people’s livelihood and doing practical things”, and urge all units and departments to analyze, study and judge the opinions, suggestions and service needs of the masses item by item by means of Party committee (Party group) meetings, party government joint meetings and special meetings, After in-depth analysis of the causes, the Secretary of the Party committee (leading Party group) will “point the general” according to the types of problems, the team members involved and the unit office of the station, clarify that a special person is responsible for handling and tracking the implementation, and specify the handling time limit. At present, more than 2000 solutions have been formulated, Effectively turn the problems related to serving the “last mile” of the masses from door-to-door handling by the masses to door-to-door service by Party members and cadres, so as to effectively improve the service efficiency and service quality.

Comrade “comments” improve quality and efficiency. Taking the “quarter of an hour before the meeting” of the district Party committee as the starting point, the Secretary of the Party committee (Party group) takes a quarter of an hour before each Party committee (Party group) meeting, party government joint meeting and special meeting according to the way of “main leadership points, team members and participants’ discussion” at the meeting, Randomly name the leading cadres of Party members to report the recent completion of the work of “I do practical things for the masses”, and comment on the measures, results and effectiveness of the leading cadres of Party members in handling practical things one by one by means of personal self-evaluation, mutual evaluation of team members and comments of the Secretary of the Party committee (Party group), so as to achieve the purpose of improving the effectiveness and promoting the work. Up to now, all units and departments in the region have listened to the reports of Party members and cadres through the “quarter before the meeting” reporting mechanism, and 812 practical things have been reported for the people, and 586 have been solved.

Social “praise” promotes harmony. In carrying out the practical activity of “I do practical things for the masses”, qixingguan district has always taken “the satisfaction of the masses” as the yardstick to measure the effectiveness of work, and urged all units and departments in the region to publicize the situation of Party members and cadres doing practical things for the masses in all Party branches in accordance with the principle of “publicity by branches, reporting by leading cadres and on-site evaluation by the masses”, Let the masses know the results of practical handling. After the publicity, Party members and the masses are actively guided to conduct a comprehensive evaluation of the handling situation based on the principle of fairness and justice by holding mass meetings, yard dam meetings, bench meetings and other forms, and take the evaluation opinions as the main basis for testing the work results. This has been praised and recognized by the masses, It has stimulated the vitality of Party members and the masses to participate in the practical activities of “I do practical things for the masses”. So far, the region has publicized more than 1000 practical matters handled by Party members and cadres, and more than 3000 party members and the masses have participated in praising. (Chen Wei)