It is understood that since the first Silver River Guard was mapped in 2014, this team, consisting of heroes from different species, has moved quickly in the rumours of the film and has developed into one of the desired super heroes series.

The Silver River Guard 3 is also the final part of the series. Lectured by James Ghn, C. P. P., Z. S. Solda, D. B. Batista, Cairn Jran, P. C. C. Clemente, Shawn Ghn, Wil Paul.

Each major player was successful in Gertrut, rocket-bearing and demona, and the Silver River Guard 3 focused on rocket-bearing, thereby boosting the film theme and jumping the frontiers of plugging and braking.

The total value of the Silver River Guard 3 does not restate the caveats of the films over the years. But this cannot be said to be the top of the euphoria, such as Kevin Fitch and others, but the insistence of James Ghn, the director of the three traversies of the “Safety”.

During the filming and production of the Silver River Guard 3, the “rolling” has repeatedly stated that he will not be placed in a “non-competing role” in the film for the so-called association.

The total length of the Hong Kong Zhuhai Macao Bridge is about 55 kilometers, of which the main works include 22.9 kilometers of bridges, 6.7 kilometers of subsea tunnels and east-west artificial islands connecting tunnels and bridges.

CCTV reporter Wu Jie: my current position is the dongrengong island of the Hong Kong Zhuhai Macao Bridge. Above my head are the dense takeoff and landing routes of the Hong Kong International Airport. Behind me is the busy golden waterway on Lingdingyang. Many bridge experts believe that it is almost an impossible task to link the core areas of Guangdong, Hong Kong and Macao and avoid affecting the sea and air transportation here.

In order to realize the non-interference of sea, land and air traffic, the Hong Kong Zhuhai Macao Bridge adopts the world’s first integrated scheme of bridge, island and tunnel. On the vast sea, engineers surrounded two artificial islands of 100000 square meters with 120 huge steel cylinders with a diameter of 22 meters and a height of 18 floors. The whole project took only 212 days.

The 6.7-kilometer-long subsea tunnel is composed of 33 large immersed tubes docked on the seabed. Each immersed tube weighs more than 80000 tons, which is equivalent to an aircraft carrier, and the accuracy of immersed tube docking should reach the centimeter level. These are unprecedented technological innovations in the history of bridge construction in the world

Su quanke, chief engineer of Hong Kong Zhuhai Macao Bridge Authority: bridges, tunnels and artificial islands are accurately manufactured in factories, and large-scale equipment is pulled over and installed. Therefore, the quality of this bridge is very high, which pushes China’s bridge construction to the level of industrial construction. We were very surprised that foreign experts could come to China to build bridges at this time.

In terms of the overall bridge design, the main bridge of Hong Kong Zhuhai Macao Bridge is largely constructed of prefabricated steel structure, with a total steel consumption of 420000 tons, which is enough to build ten bird nests. The exquisite construction technology makes the service life of the bridge up to 120 years, which is 20 years longer than the common design service life of sea crossing bridges in the world, and has become a new benchmark for bridge construction in the world.

Tan Guoshun, project manager of Hong Kong Zhuhai Macao Bridge project of China Railway Bridge Bureau: the requirements for the accuracy of each component are higher and higher. If the deviation is large, it can’t be installed. The requirement of 1 cm deviation (installation) proposed by Hong Kong Zhuhai Macao Bridge is unimaginable in the process of large-scale engineering construction in the world. The technical standard of Hong Kong Zhuhai Macao Bridge is much higher than that of any country in the world.

After the completion and opening of the Hong Kong Zhuhai Macao Bridge, the land transportation from Hong Kong to Zhuhai will be reduced from the previous three hours to 30 minutes. This super project on Lingdingyang will rewrite the economic territory of the Pearl River Delta and lay a solid foundation for the integration of Guangdong, Hong Kong and Macao.

For some time to come, the adjustment direction of monetary policy is to control the total amount and adjust the structure. It is unlikely to launch a flood of funds. The essence of this optimization of capital flow structure under the condition of reasonable and sufficient liquidity is a targeted hedge against the financing pressure of private and small and micro enterprises caused by the contraction of non credit financing.

1、 “Flood irrigation” is not advisable

The big water release policy of strengthening stimulus has brought some “sequelae” to China’s economy in the past, and even is still slowly digesting and adjusting. Not engaging in flood irrigation is an important tone set by the central government for monetary policy. The view that the failure to mention in the monetary policy implementation report means that the central bank may return to the old path of “large water release” and “strong stimulus” in the future is groundless.

The two rounds of policy easing adjustment in 2009 and 2015 have their own special economic background. In 2009, the US subprime mortgage crisis caused a global impact, and in 2015, the domestic stock market fell sharply. Easing adjustment may have been a targeted choice at that time, but the side effects were not small.

In 2009, the big water release in response to the financial crisis that has not been encountered in a century has not only promoted the sharp rise of house prices, but also brought three major problems: high production capacity of backward industries, high inventory of real estate and high debt of local governments. According to the average commercial housing price data of wind 100 cities, the average price rose from 9000 yuan per square meter to 11000 yuan per square meter from 2010 to 2013. At the same time, according to the data of the Chinese Academy of Social Sciences, the leverage ratio of the government, enterprises and residents increased significantly from 49.0%, 24.0% and 99.0% to 57.8%, 36.4% and 123.1% respectively from 2009 to 2014.

After the stock market crash in 2015, the benchmark interest rate of housing loans fell to a low level of 4.9%. Since the end of 2017, the average price of real estate per hundred square meters has increased from 14000 yuan to 11000 yuan, which is still in the “hot” stage of real estate regulation and control.

In terms of leverage ratio, the leverage ratio of government departments began to decline with the local debt audit and contingent debt stripping in 2015. However, the leverage of resident departments and enterprise departments continued to rise, from 39.9% and 131.2% to 44.8% and 158.2% in 2016, respectively. The pressure on consumption caused by the rising leverage of the resident sector and the pressure on the financing cost of the real economy caused by the rising leverage of the enterprise sector have been reflected in the greater downward pressure on the economy.

With the start of the deleveraging process in the second half of 2016, the latest data show that at the end of June 2018, China’s total leverage ratio was 248.9%, which was the same as the level in 2017, 0.3 percentage points lower than the same period in 2017; The leverage ratio of the enterprise sector was 162.4%, down 1.2 percentage points and 3.8 percentage points respectively from the end of 2017 and the same period of 2017; The leverage ratio of government departments according to public statistics was 35.4%, down 0.9 percentage points from 2017, continuing the downward trend since 2015; The leverage ratio of the household sector was 51%, an increase of 2 percentage points over the end of 2017, and the growth rate continued to slow down.

It can be seen that the leverage ratio of the economy has stabilized. If we continue to return to the old road of “flood irrigation”, there is a risk that a series of achievements made by the previous deleveraging policy will be burned. Therefore, the central government clearly pointed out that it was determined not to engage in flood irrigation, but required to adopt the way of accurate drip irrigation to guide the flow of funds and realize the return of financial support to the real economy. The central bank’s monetary policy implementation report in the third quarter made it clear that “monetary policy should be neutral, moderately loose, control the general gate of money supply, grasp the comprehensive balance among multiple objectives, and dynamically pre adjust and fine tune in time according to the changes of the situation”. This itself emphasizes that we should never engage in flood irrigation, but focus on optimizing the structure and improving the effect of policies.

2、 Policies under the downward pressure of economy

Moderate reverse regulation is necessary

The overall tone of current monetary policy is to be stable and maintain reasonable and abundant liquidity. “Reasonable abundance” itself means that the current policy is slightly looser than that in the previous period, which is obviously necessary.

From the current domestic economic operation, the latest growth rate of fixed asset investment was 5.7%. Although the growth rate increased slightly by 0.3 percentage points from January to September, it still decreased by 1.6 percentage points from the same period last year. Among them, the growth rate of infrastructure construction investment was 3.7%, which was 0.4 percentage points higher than that from January to September, but it was 15.9 percentage points lower than that in the same period last year.

Although the recovery momentum of manufacturing investment has continued, the growth rate of real estate investment continues to decline slightly to the low point of 9.7% this year, and the contribution of real estate investment to economic growth may be further weakened.

Industrial added value also fell by 0.3 percentage points compared with the same period last year. Although the growth rate of industrial added value is relatively stable as a whole, considering the weak prosperity of real enterprises and the adjustment of the caliber of Industrial Enterprises above Designated Size, the economic operation shown by industrial added value statistics may be slightly optimistic than the actual situation.

Consumption is still slightly weak. The weakness of automobile consumption combined with the slowdown in the sales of home decoration products in the whole downstream caused by the slowdown in real estate sales shows the pressure on the consumer side. The current optimistic export data may also be due to the “rush for export” of some enterprises before the implementation of a series of specific measures in the Sino US trade war. Generally speaking, the downward pressure on the whole economic operation is still large. It is necessary to adjust the monetary policy moderately to the loose direction to support the stabilization of the real economy, but this is by no means a flood.

3、 Moderate reverse adjustment of current monetary policy

Help improve the financial environment

Generally, when the economy is down or under great pressure, the reverse loose adjustment of monetary policy plays an important role in economic stabilization. At present, while there is downward pressure on the economy, after the superposition and implementation of relevant policies such as “financial deleveraging” in the early stage, the growth rate of social financing scale has declined rapidly, which has brought great pressure on the financing of the real sector.

So far,