New Chinese journalists, Nangarin, Wang Xiaoqiao

The well-being of the people is the ultimate goal of promoting quality development. The meeting of the Central Political Bureau of China, held on 28 April, emphasized that “to ensure effective protection and improvement of livelihoods and to strengthen the priority orientation of employment” “to sustain safe production”, “to provide security for the supply of food production and vital agricultural products”, “to ensure safe and sustainable production”.

The current domestic economy has seen a positive recovery, but the foundations for recovery are not strong. The more so, the more the bottom line of the population, the greater the strength of jobs, the preservation of prices, the safe rescue, the benefits of good performance, the warm hearts and the strength of confidence.

Difficulties and smooth focus group employment

Employment is the foundation of life and development.

“In the context of the still complex situation in which the economy operates, emphasis was placed on safeguarding and improving livelihoods, strengthening employment priorities, a profound people-centred vision of development, and a strong determination to gain access to productive employment”. Lee Ryan, Research Fellow, National Open Institute, University of Foreign Economic Trade.

Since this year, employment has gradually resumed with the overall improvement in economic performance and increased demand for business. The number of new jobs in towns throughout the country increased by 2.97 million a year, up from 120,000. In March, the unemployment rate in urban surveys was 5.3 per cent, down by 0.5 per cent.

At present, the employment situation in my country remains generally stable. At the same time, it must be seen that the economic performance of the country is largely restorative, that some workers still face difficulties in finding employment, and that some young people, especially high school graduates, are still looking for suitable jobs.

This year, 11.58 million university graduates will be more innovative. The meeting of the Central Political Bureau placed particular emphasis on expanding access to employment for high school graduates and stabilizing the employment of key groups such as farmers.

To encourage small and medium-sized enterprises to become more employable, to stabilize the size of recruitment to institutions, State-owned enterprises, to develop basic employment space. The Department of Social Affairs has recently launched a youth employment entrepreneurship promotion programme, such as high school graduates, to fully exploit job resources, to fine-tune employment services, to assist young people in early employment and well-being.

The Office of the United Nations High Commissioner for Refugees (UNHCR) has issued a circular on the optimization of smooth employment policy measures to promote the development of MFN, focusing on priorities and dilemmas, which is centred on a combination of “enhanced, promotional, antitrust” policies.

“Every sector should invest in the implementation of employment priority policies, strengthen the coordination of employment policies with other policies, create a common effort to promote quality and full employment, and effectively integrate this vitality.” Lee Lee stated.

Strength, secure bottom line

Security of energy and food security concerns the overall economic development and social stability. In response, the meeting was deployed “to secure the supply of electricity for peak summer” “to secure food production and vital agricultural supply”.

Wang Peng, Professor of the North Power University of China, said that electricity supply was generally stable in the first quarter of the year, but was influenced by factors such as continued water loss, and that electricity supply in a few provinces was under pressure. Electricity demand will continue to rise as macro-policies increase, business productivity recoveries and temperature rise. In accordance with the party’s central and State Council deployments, multiple unflagging and intensive deployments strengthen supply capacity and guard the civilian-to-people security base.

In the immediate aftermath of the spring, important time-frames will be installed, and the related deployment of the conference will provide solid support for the consolidation of economic back-to-back postures, for the steady-price insurers, for the electricity sector to monitor early warning analysis, for increased support for power supply and for the construction of pipelines to ensure adequate supply of coal … As of the end of March, the cumulative capacity of the country’s power plant was approximately 2.62 billion kW, an increase of 9.1 per cent. Ensuring a smooth flow of food baskets.

Spillage is carried out in all parts of the country. Measure production increased by 1.9 per cent in the first quarter, with a full increase in livestock and water products, and more than 1.1 million acres in the first half of April in the same area as in the field. The latest agricultural movement control of the Ministry of Agriculture and Rural Development shows that the country is currently home to 4.1 million acres of food and 43.9 per cent of the area of interest, with an average rate of 2.1 percentage points.

The responsibility for security rests with the mountains. It was stressed that “produced production in safety should be sustained with a sense of responsibility that “when time is not forthcoming”. The research fellow at the Development Research Centre of the Department of State, in its article V, said that this required better integration of development and security across all regions, consistent with the safe production of the master plane, with high levels of safe and high-quality development.

Seizure of the weak to fill the scratch

The people aspired to a political end. During the critical period of economic recovery, there is a greater need to focus on the acute problems of the population and to work to fill the gaps in the fields of livelihood and livelihood.

Housing issues are linked to the well-being of the people and to the harmonious stability of society. It was proposed that the city’s medium-sized village rehabilitation and public infrastructure for “emergency dual-use” be actively and steadily advanced in mega-cities. Planning for safe housing.

“Rehabilitation of villages in urban areas can meet the needs of the population to improve the quality of housing and to optimize the urban space environment. The integration of the concept of “emergency dual-use” into urban planning, with the necessary redundancy in the functioning of large public facilities and communities, can effectively complement the short-term capacity of large cities for emergency response and enhance the capacity to support major public emergencies.” Chen, Director, Centre for Housing and Urban-rural Construction Studies, Shanghai Transport University.

The meeting re-emphasized that “to insist that houses are used for shelter and not for shelter” “to support the demand for just and improved housing”. “The districts and departments concerned need to assume their responsibilities and focus on housing for new citizens and young people.” Chen said.

This year is a crucial year for consolidating an effective link between the development of strong gains from poverty eradication and rural revitalization. It was suggested that “the consolidation of a strong outcome of the expansion of poverty eradication” “complete rural revitalization”.

The Officer-in-Charge of the National Rural Revitalization Agency indicated that this year an increase in the income of people living out of poverty was a fundamental measure, focusing on the promotion of accelerated development in out-of-pockets of poverty, focusing on industrial employment, investing in development, and continuing to close the income gap and the development gap.

Emphasis was placed on strengthening the governance of ecological environmental systems. “Remote pollution prevention and control strongly in priority regions, as required by the Conference

Four major challenges for the # power cell #

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Incident retrospective: [Congo Sun: lithium ion batteries face four challenges in terms of resources, energy, security, extreme environment] At the recent Chinese meeting of automobiles, the Chinese Academy of Sciences, Sun, has just indicated that the existing lithium plasma cell is facing four major challenges: resources such as the first, lithium, severely limit its sizeable reserves. Currently, 70 per cent of the country’s lithium is dependent on imports and it is urgent to develop new material systems; secondly, energy density is close to theoretical limits and lithium plasma cells are far from meeting major development needs, limiting multiple landscape applications; thirdly, security accidents are frequent, with about 3,000 new energy vehicles opened in 2021, new energy vehicles with a fire accident rate of 0.9-1.2 million; and fourthly, extreme environmental adaptation, especially in extreme environments such as underwater deep-sea detection and elevation detection, requires better adaptability.

Point review: As is well known, China’s position in the power battery industry is now at a global level, with no more than the highest visibility of enterprises such as the Lend era, Biyadi, China’s innovators, the Sakamoto, Hinwanda and the fumes. The cells produced by these enterprises have monopolized the supply of new energy-powered batteries in almost all markets.

The problem of battery has always been associated with new energy vehicles, but it has varied at different stages. While the market is aware of the energy-saving environment of electric vehicles, the security of batteries has been plagued by everyone, with no exception from car to consumer.

In addition to safety, the power battery is plagued by the energy density of batteries and the reduction of energy consumption, and the development of new battery materials and batteries management systems is becoming increasingly important at this stage, in particular through the development of efficient and intelligent battery management systems, real-time monitoring and optimal management of performance parameters such as battery recharge, temperature, capacity, etc., while ensuring that batteries operate under optimal conditions.

It is not easy to see that, while the new energy vehicles are developing quickly, the problems remain, and those who can break the keys of these problems will undoubtedly take the lead in the market.

#蔚 CEO Lee responded to the price of Tesra #

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Incident retrospective: 1 April, China Electricity Association Forum. H.E. Dr. CEO Lee, who travelled to the car, said that thumbing to Māori had been low and did not take part in the price battle. Lee stated that “Model S (position of bids) and Model X (configuration of bids) “Model S (Tsra)” do not in fact make a price battle because of its cost. Model 3, Model Y, whose cost is often said to be different, is to be argued.”

Friends of the Internet:

Point: Lee is saying that he will not be involved in price warfare, what he relies on and perhaps some answers can be found from his words.

“The price war is certainly not the best method, and we want to reflect on what has been created for the users, and it is difficult to imagine “the best products and services” at the lowest price, which is not in economic theory.”

“Biyadi and Longer-An, Hiroshima, Gli, many of our peers today have done well, and Chinese brands have been particularly good. So I feel that the down price of Tesla is also a method of comprehensible under the competition of the Chinese market in Chinese brands. Lee stated that “but I do not feel that he really has so-called pricing rights, and he has pricing rights in the United States. I think this is a testament to China’s excellent colleagues’ particular success.” He stressed that it was not going to follow, and that neither came to the same market nor Tetra.

As can be seen, the Chinese brand is too good, and Tetra has faced unprecedented challenges, followed by a failure to follow the same market zone. This is the basic explanation that Lee has not been involved in price warfare.

Indeed, price warfare is not the best option for industry and any enterprise, and it can be said that it is a “break rocks to their own feet” while also undermining an orderly competitive industry environment. There is still a focus on when electric vehicles or when new energy vehicles can replace fuel trucks, but many experts pointed out that in a more exceptional overall environment in China, they are long-term coexistence rather than substitutes. As new energy vehicles become more infiltrated, there is no doubt that future prices for fuel vehicles will be overstretched. Ultimately, however, market choices are made, not those of industry participants. It is the right choice that markets make for good and bad choices.

According to the founder of # Zero, 10 years later, the electric vehicle will fall to 50,000#

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The event recalled that, on 1 April, at the Forum of the China Electricity and Automobile Association (2023), the founder, director of the zero-run automobile, CEO Giamong Minh, in a media interview, such as the White Helmets press, indicated that the price for the sale of smart electric vehicles would be reduced to 50,000 yuan 10 years later. Giang Minh believed that in the context of the current competition, scale-up was growing, and that the annual sales of new energy vehicles would reach half a million businesses, to reach 5 million “living well”.

Friends of the Internet:

Comment: It is clear that Giang Minh is not circumstantial and that he has a basis. He gave such a survey at the Forum. “The price of TCL 55 inches in 2013 is $7,000, while today the same price of lottery is 1,300 dollars, which is the same performance, specifications, or even more functional, and which is reduced by five times. The price of Nokia mobile phone N9 10 years ago was $2499, and today it is a ten-fold decline. Ten years ago, the third round of air conditioning was 13,000 yuan renminbi, whereas today it is today.

Recently, the Shanghai Stock Index hovered around 3000 points. The fluctuation of the stock market has not only affected the fund industry, but also caused great pressure on asset management businesses such as brokerage asset management and bank financial management. According to the data of nancaicaicaicaitong, between April 25 and April 30, there were 1268 existing products with a net value of less than 1 and a total of 31194 existing products, that is, the proportion of net breaking products at the end of April was 4.06%.

The “double killing of stocks and bonds” since 2022 continues, and the performance of “fixed income +” products with both stocks and bonds is particularly not optimistic. Most of the “fixed income +” products are based on fixed income assets. The part of “+” is usually equity assets, and most of them are stocks. Its purpose is to increase income. However, in the case of market adjustment, the negative return of equity assets offsets the positive return of relatively stable fixed income assets, “fixed income +” has repeatedly become “fixed income -”.

In order to protect the income of fixed income assets from being eroded, asset management and bank financial management subsidiaries of securities companies are scratching their heads and trying to solve problems. At this time, a relatively novel asset allocation strategy has entered the vision of institutions - fixed increase and quantitative hedging.

Risk return characteristics are similar to “fixed income +”

Private placement refers to the non-public offering of shares by a listed company to a small number of qualified specific investors for the purpose of acquiring assets and project financing. In February 2020, after the CSRC revised the refinancing rules, it relaxed the rules from the issuance object, issuance discount, lock-in period, reduction rules, financing scale and other rules, which effectively activated the enthusiasm of market subjects.

According to wind data, from March 2020 when the new deal was just launched to February 2022, 661 fixed increase projects were issued in the fixed increase market, and the actual fund-raising amount was 1158.547 billion yuan. Due to the stabilization of market expectations, financial subsidiaries, self operated asset management of securities companies, insurance funds, foreign QFII, national sovereign funds and industrial capital have gradually recognized the fixed growth market, and attracted the participation of JPMorgan Chase, UBS and other international institutions. The continuous and stable supply of fixed value-added projects and rich investment targets have provided the soil for the survival of fixed value-added arbitrage tools.

Hedging is simply a break even transaction. Hedging transactions are transactions that are related to the market, in the opposite direction, in the same quantity and offset profits and losses at the same time.

Chen Fanqing, a researcher in the quantitative investment department of CAITONG fund, told reporters that CAITONG fund has been running a fixed increase and quantitative hedging strategy for one year. He said that most institutions in the market adopt the mode of fixed increase by single vote, hoping to obtain the discount of fixed increase by adding the strategy of hedging fluctuations. However, in practice, whether hedging through securities lending or over-the-counter options, the cost is relatively high, and it is difficult to find a stable source of securities lending; If the fixed increase ticket combination is adopted, the above difficulties can be bypassed, and then the main risk exposure of the combination can be hedged as much as possible through quantitative balance and stock index futures contract, so as to strive to realize the partial purification of the discount income of the fixed increase combination while avoiding the bottom position fluctuation.

Chen Fanqing said that at present, the mainstream product term of this strategy is about 18 months, which can basically cover two rounds of fixed growth cycles.

At present, the fixed increase policy is relatively friendly to such fixed increase and quantitative hedging products. In the new fixed growth market, different types of market participants have different investment strategy cycles and expectations for fixed growth, and they no longer have a strong impulse to reduce their holdings when they expire under the original long-term lock. In the strategy of CAITONG fund operation, the amount of each fixed increase target configured for a single product is not large. It is configured in a small amount and decentralized way, and strive to reduce its holdings after lifting the ban, so as to realize the partial purification of fixed increase discount.

Securities companies and banks pay close attention to financial funds

At present, the self operated business and financial management subsidiaries of securities companies have also paid attention to this strategy, and have used this strategy as a means of thickening income. In the 21st century, the reporter learned that most of the subsidiaries of financial management tend to increase their assets steadily, and some of them tend to increase their financial management assets in the 21st century. Firstly, this is to enhance the income. Secondly, this strategy has low correlation with other strategies in the market and can better disperse the risk through the fixed increase portfolio. Therefore, it is a characteristic high-quality asset for banks. The current water testers include a number of financial subsidiaries of large state-owned banks and joint-stock banks.

“A university foundation was the first to configure this strategy. Relatively speaking, banks and financial management subsidiaries are more cautious. Last April, a large state-owned bank took the lead in configuring the fixed increase and quantitative hedging strategy. After a period of solid operation, there has been positive feedback, and more and more banks and financial management subsidiaries have further paid attention to or configured this strategy.” Chen Fanqing said. It is reported that as of the end of April this year, nearly 40 different types of institutional investors, including wealth management, self operated securities companies and trusts, have configured quantitative hedging strategies.

He also admitted that so far this year, the discount of the whole fixed value-added market has narrowed, and the income of this strategy may not be as high as last year. “On the one hand, there is more liquidity in the market, coupled with less project issuance, the fixed value-added market seems relatively hot”.

However, even if the current fixed increase discount continues to narrow, he still believes that although the revenue performance of this strategy this year may not be as bright as last year, it still has a strong competitive advantage compared with fixed income + products with the same risk and return characteristics. If the market situation improves at a certain point in the future, or the fixed increase approval of listed companies is about to expire, the enterprise is likely to release the pre backlog of fixed increase financing demand, and the product income performance may also rise.

For banks and trusts in the process of non-standard bid transfer, they have to clear some non-standard assets under compliance pressure, and the relatively attractive income level of fixed incremental hedging strategy and its low correlation with other types of assets are highly expected by the market under the current market environment and bid transfer trend or a meaningful attempt of bid transfer.

Wang Wenbin said that China has always supported and encouraged all diplomatic efforts conducive to the peaceful settlement of the Ukrainian crisis and will continue to play a constructive role in easing the situation in Ukraine. (CCTV reporter Shen Yang, Kong Luyuan, Yang Yi)