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　　On 26th, local time, India announced the latest COVID-19 epidemic situation in the country.

　　As of 8: 00 on the same day, in the past 24 hours, India has added 352,991 confirmed cases of COVID-19, with a total of 17,313,163 confirmed cases. In the past three days, India has added more confirmed cases; There were 2812 new deaths and 195123 cumulative deaths.In the past three days,The cumulative number of newly confirmed cases of COVID-19 in India has exceeded one million. The newly confirmed and dead cases have once again set a new record in this country.

　　The epidemic situation in India continued to worsen, and the cumulative number of newly diagnosed cases exceeded one million in three days.

　　△ Schematic diagram of cumulative confirmed and dead cases of New Crown Pneumonia in India on the 26th (Source: WHO)

　　According to local media reports, the epidemic in India has been in the losing stage. In the capital, New Delhi, almost every 300 seconds, one person will die because of COVID-19.

　　According to the analysis of many foreign media, the epidemic situation in COVID-19 in India is so serious. On the one hand, the successful research and development of various vaccines led to the relaxation of epidemic prevention in India. On the other hand, the United States, as an important importer of medical raw materials in India, started the National Defense Production Law early, and restricted the export of vaccine raw materials for a long time, which led to the lack of medical care and medicine in India.

　　India urgently needs vaccine raw materials, but the United States turns a deaf ear.

　　△ Adar Poonawalla, CEO of the Indian Serum Institute, posted a message on social media, "pleading" with US President Biden to lift the ban on the export of vaccine raw materials in India.

　　The world’s largest vaccine manufacturer — — Adar Poonawalla, CEO of India Serum Research Institute, posted a message on social media on April 16th, "pleading" Biden’s government to lift the ban on India’s export of vaccine raw materials in order to increase India’s vaccine production. Reuters also revealed earlier that the foreign ministers of India and the United States also mentioned lifting the import ban during their talks on April 19th. However, the United States has never responded to this.

　　△ the State Council spokesperson Price

　　It was not until 22nd that a reporter’s question at the White House press conference broke the silence of the United States for the first time, although the United States was still pushing each other.

　　According to the minutes of the press conference that day, US State Department spokesman Ned Price first pushed the question to the Office of the US Trade Representative in response, saying that it was within their authority. After facing the reporter’s unrelenting questioning, Price said "the truth".

　　△ US local media reported that at the press conference that day, Price once again emphasized "US priority" and refused to export vaccine raw materials to India on this ground.

　　Price first said that the United States focused on controlling the epidemic in the United States, giving priority to vaccinating the American people, and stressed that the American approach was "ambitious", "fruitful" and "successful". Later, he continued to argue: "We do this for several reasons. First, we have a special responsibility to the American people. Second, in the United States alone, more than 550,000 people have died and tens of millions have been infected. The American people have been hit harder by the epidemic than other countries in the world. " Finally, he concluded: "It is not only in the interests of the United States to vaccinate Americans, but also in the interests of other countries in the world."

　　Indian media criticized the United States for making "vague verbal promises"

　　△ "The Times of India" published an article entitled "The United States made vague verbal commitments because it was criticized for turning a deaf ear to the COVID-19 epidemic in India" on the 23rd.

　　This speech instantly detonated the anger in India. The Times of India issued a document for two consecutive days, criticizing the U.S. government for turning a deaf ear to the Indian epidemic, saying that the so-called guarantee of the United States is only a "vague verbal promise" and pointing out that the Biden administration has done almost nothing except verbal sympathy.

　　△ "The Times of India" published another article on the 24th, saying that the Biden administration was cold-hearted about India’s urgent need for COVID-19 vaccine raw materials.

　　According to a report by Washington post on the 24th, only 1.4% people in India have been vaccinated, and overcrowded hospitals are facing the problem of lack of oxygen, while the United States is enjoying a spring full of vaccines. What makes the Indian people even more angry is that the United States would rather throw the extra vaccine in the warehouse like this than export the raw materials for vaccine production to India.

　　△ The New York Times reported on March 11 that the United States is sitting on the tens of millions of doses of COVID-19 vaccine that the world urgently needs.

　　On March 11th, The New York Times quoted an official familiar with the matter as saying that more than 30 million doses of vaccine were idle in a warehouse in Ohio, USA, and no one had ever used it. The Axios News Network of the United States commented that "when billions of people around the world are anxiously waiting for vaccines, 30 million doses of vaccines are eating ash in Ohio warehouses."

　　Indian netizens accused the US of being "hypocritical", "diplomatic rhetoric" and "untrustworthy"

　　△ Indian netizens accuse the United States of selfish behavior

　　Under the video of Price’s speech, an Indian netizen commented, "History will remember that a country with a population of 1.4 billion has helped more than 90 countries, while a so-called superpower is sitting on piles of vaccines. We won’t forget it, @ President of the United States ".

　　△ Indian netizens talked about India’s previous aid to COVID-19 drugs in the United States, but now the United States has turned a blind eye to India.

　　A netizen even turned over the old account and left a message: "When India itself was experiencing a serious COVID-19 epidemic, the United States successfully obtained hydroxychloroquine from India (which was previously considered as a specific drug for treating COVID-19, but was later confirmed by WHO to be almost ineffective). Now the United States is still banning the supply of vaccine raw materials to India. Obviously, the United States has become the most untrustworthy country on earth. "

　　In the case of accusations from all sides and the growing epidemic in India, it was not until the 25th that US President Biden and Vice President Harris began to formally respond, saying that they would provide assistance to India.

　　△ The Vice President of the United States posted a message on his personal social account on 25th local time, saying that he would support India in fighting the COVID-19 epidemic.

　　However, the Indian people who have been deceived and ignored for a long time obviously don’t buy it. A large number of Indian netizens commented that this move is still "hypocritical", "diplomatic rhetoric" and "untrustworthy", and they are still full of doubts about the US statement.

　　△ Indian netizens said that Harris’s move was just diplomatic rhetoric and could not be trusted.

　　△ Indian netizens replied that we need more details. Please don’t continue to publish such diplomatic rhetoric. We need actions, not "so-called statements".

　　The epidemic situation of COVID-19 in India is getting more and more serious, but the aid of the United States is far away

　　While the Indian people are still waiting for American aid in the epidemic, the epidemic in India has developed into a frightening situation.

　　△ABC reported that the epidemic situation in India continued to intensify, and crematoriums in many places had been cremated by burning bodies in the open air.

　　According to foreign media reports, in some crematoriums in India, the metal parts began to melt because of the long running time of gas stoves and wood stoves, and cremation stoves were damaged because of too many bodies to be burned. A large number of bodies could only be burned in the most primitive way. In many hospitals in India, there have been many suffocation accidents caused by lack of oxygen recently.

　　△ CNN published on the 26 th entitled "The COVID-19 epidemic in India is more severe. Two of the US diplomats in India died and more than 100 people tested positive for COVID-19."

　　CNN quoted diplomats working in the US Embassy in India as saying: All the staff were deeply frustrated, and even the staff of the US Embassy could only get vague statements before the actual assistance from the United States arrived.

　　Producer Tang Yi

　　Producer Zhao Xinyu?

　　Editor-in-Chief: Cui Yi

　　Editor Jin Lvcheng

Brand Finance, a British brand evaluation agency, released the "Banking 500 2021" in 2021. In this year’s ranking, China and the United States still share the top ten banking brands, and Industrial and Commercial Bank of China continues to be the top one.

The total value of the top 500 global banking brands is $1,270.5 billion. Among them, 76 China brands were worth US$ 430.4 billion, accounting for 33.9%. 74 American brands are worth $2,748, accounting for 21.6%. Nine Canadian brands are worth $62.6 billion, 17 British brands are worth $51.2 billion, 27 Japanese brands are worth $41.3 billion, 9 French brands are worth $35.7 billion, 9 Spanish brands are worth $29.5 billion, 18 Indian brands are worth $27.3 billion, 9 Australian brands are worth $23.2 billion, 4 Dutch brands are worth $21.1 billion and 13 Swiss brands are worth $20.7 billion.

The "Top 500 Global Bank Brand Value Rankings" adopts the cash flow discount method, and calculates the brand value of each bank by evaluating the market influence of banks by analyzing financial data and setting brand discount rates of different banks. The shortlisted banks include commercial banks and investment banks (securities companies).

Brand value/annual growth rate of ranking brand headquarters.

1. Industrial and Commercial Bank of China (ICBC) China is 72.788 billion USD /-9.9%.

2. China of China Construction Bank is 59.649 billion USD /-4.7%.

3. Agricultural Bank Of China (China) 53.134 billion USD /-2.8%.

4. Bank of China’s China is USD 48.689 billion /-3.8%.

5. Bank of America US$ 32.787 billion /-7.3%.

6. US$ 32.2 billion /-2.8% from CITI.

7. Wells Fargo US$ 31.805 billion /-22.2%

8. Chase US$ 28.849 billion /-7.7%

9. J.P. Morgan US$ 23.565 billion /+3.2%.

10. China of China Merchants Bank is USD 21.044 billion /-8.0%.

11. HSBC UK USD 17.028 billion /-12.5%.

12. TD Bank of Toronto (Canada) USD 15.968 billion /-1.1%.

13. Royal Bank of Canada (RBC) Canada USD 15.818 billion /+1.6%.

14. China of Bank of Communications is USD 15.683 billion /+3.4%.

15. Shanghai Pudong Development Bank China USD 15.053 billion /+7.9%.

16. China CITIC Bank China USD 14.500 billion /+10.2%.

17. Santander Spain’s USD 14.271 billion /-18.7%.

18. Goldman Sachs US$ 13.75 billion /+21.3%

19. China Postal Savings Bank’s China is USD 13.593 billion /-0.1%.

20. Capital One US$ 13.034 billion /-11.4%.

21. China Minsheng Bank China USD 12.490 billion /+29.3%.

22. BNP Paribas France USD 12.37 billion /-7.0%.

23. Mitsubishi UFJ Financial Group (MUFG) Japan USD 12.149 billion /+29.0%.

24. China of Industrial Bank is USD 12.131 billion /+15.9%.

25. China Everbright Bank’s China is USD 10.325 billion /+6.6%.

26. ING Netherlands USD 9.972 billion /-11.9%.

27. China of Ping An Bank is USD 9.781 billion /+15.6%.

28. Morgan Stanley US$ 9.473 billion /+6.6%.

29. Federal Savings Bank (Sber) Russia’s USD 9.395 billion /-29.0%.

30. Sumitomo Mitsui Financial Group (SMBC) Japan USD 9.319 billion /-23.9%.

31. BMO Canada’s USD 9.077 billion /-4.2%.

32. Scotiabank Canada USD 9.041 billion /-10.6%.

33. Barclays UK $9.037 billion /-15.2%

34, UBS Group AG (UBS) Swiss $8.671 billion /-5.4%.

35. U.S. Bancorp’s US$ 8.351 billion /-2.2%.

36. Truist US$ 8.013 billion

37. DBS Singapore USD 7.811 billion /-7.8%.

38. BBVA Spain’s USD 7.678 billion /-18.7%.

39. Rabobank, the Dutch cooperative bank, US$ 7.573 billion /-1.8%.

40. Intesa Sanpaolo, Italy, US$ 7.401 billion /+14.3%.

41. Merrill’s US$ 7.273 billion /+3.3%

42. CIBC Canada’s USD 6.924 billion /-12.1%.

43. Puruixing Financial Services (PNC) US$ 6.798 billion /-11.2%.

44. HDFC Bank India USD 6.588 billion /+11.2%

45. Commonwealth Bank Australia US$ 6.552 billion /-7.0%.

46. Mizuho Financial Group Japan’s USD 6.419 billion /-4.7%.

47. Credit Suisse Switzerland USD 6.286 billion /-9.0%.

48. Qatar National Bank (QNB) Qatar USD 6.107 billion /+1.3%.

49. Standard Chartered UK USD 6.057 billion /+6.2%

50. State Bank of India (US$ 5.843 billion /-9.2%).

51. Discover US$ 5.576 billion /-14.7%

52. Societe Generale France’s $5.082 billion /-31.0%.

53. Itau Bank (ITAU) Brazil USD 5.065 billion /-25.9%.

54. Hua Xia Bank (China) USD 5.054 billion /+24.7%.

55. Credit Mutuel France $5.05 billion /+4.2%

56. Shinhan Financial Group Korea’s USD 5.027 billion /+7.6%.

57. Lloyds Bank UK $4.949 billion /-29.2%.

58. Credit Agricole (France) USD 4.834 billion /-14.5%

59, National Westminster Bank (NatWest) UK $4.822 billion /-18.8%

60. KB Financial Group Korea USD 4.69 billion /+13.0%.

61. ANZ Australia USD 4.604 billion /-1.3%.

62. OCBC Bank Singapore USD 4.561 billion /-5.8%.

63. BNY Mellon US$ 4.367 billion /+10.7%.

64. Nordic United Bank (Nordea) Sweden USD 4.105 billion /-12.8%.

65. Bank of Beijing China USD 4.042 billion /+3.4%.

66. Banco do Brasil Brazil USD 4.04 billion /-11.3%.

67. UOB (UOB) Singapore USD 3.998 billion /-15.3%.

68. Brazilian Federal Savings Bank (Caixa) Brazil’s $3.954 billion /-18.3%.

69. nab Australia’s US$ 3.936 billion /-17.2%.

70. Bradesco (Brazil) US$ 3.908 billion /-41.6%.

71. Bank of Ningbo China USD 3.855 billion /+63.3%.

72. Charles Schwab US$ 3.854 billion /+4.2%.

73. Union Bank of Belgium (KBC) Belgium USD 3.829 billion /-11.2%.

74, Dubai National Bank (Emirates NBD) UAE $3.73 billion /-9.7%.

75. Bank of Shanghai China USD 3.681 billion /+7.0%.

76. Maybank Malaysia USD 3.661 billion /-8.0%.

77. First Abu Dhabi Bank (UAE) USD 3.621 billion /-10.1%.

78. ICICI Bank, India, US$ 3.539 billion /+23.2%.

79. Deutsche Bank Germany US$ 3.51 billion /-1.3%.

80. Westpac Australia USD 3.491 billion /-11.4%.

81. Al-Rajhi Bank, Saudi Arabia, USD 3.449 billion /-1.7%.

82, Japan Post Bank (JP Bank) Japan $3.389 billion /-12.2%.

83. Bank of Jiangsu China USD 3.363 billion /+7.7%.

84. China of China Guangfa Bank is US$ 3.344 billion.

85. CaixaBank Spain’s US$ 3.304 billion /-6.8%.

86. ABN AMRO Netherlands $3.289 billion /-19.8%.

87, CITIC Securities (CITIC Securities) USD 3.132 billion /+33.8%.

88. Desjardins Canada USD 3.099 billion /+12.0%.

89. People’s Bank of Indonesia (BRI) Indonesia USD 3.098 billion /-12.3%.

90. State Street US$ 3.008 billion /+17.7%

91. Fifth Third Bank US$ 2.921 billion /-19.0%

92. Citizens US$ 2.83 billion /+12.0%

93. Hana Financial Group (South Korea) US$ 2.799 billion /+7.1%.

94. China of China Zheshang Bank is USD 2.731 billion /+32.0%.

95. KeyBank US$ 2.700 billion /+5.9%

96. DNB Norway USD 2.686 billion /+0.3%

97. Hang Seng Bank (China and Hongkong) US$ 2.68 billion /-21.2%.

98. Natixis France’s $2.673 billion /-1.6%.

99. Woori Bank Korea’s USD 2.654 billion /+12.4%.

100. Swedbank Sweden’s USD 2.614 billion /-9.0%.

Other brands in mainland China, Hongkong and Taiwan Province that have entered the top 500 global banking brands.

101, Haitong Securities (Haitong Securities)

111. Bank of Nanjing.

119, Guotai Junan Securities (Guotai Junan Securities)

128. Bohai Bank

135, Chongqing Rural Commercial Bank (Chongqing Rural)

141. Huishang Bank.

153. China Trust Commercial Bank (CTBC Bank) Taiwan Province

154. Bank of Hangzhou.

159, Guangzhou Rural Commercial Bank (Guangzhou Rural Commercial Bank)

179. E.SUN Bank Taiwan Province

187. Shanghai Rural Commercial Bank.

188. Bank of Chengdu.

189. Bank Of Changsha.

192. Orient Securities.

204, Shengjing Bank (Shengjing Bank)

206. Bank Of Chongqing.

213, Beijing Rural Commercial Bank (Beijing Rural Commercial Bank)

215, Bank of Tianjin (Bank of Tianjin)

218, Jinzhou Bank (Bank of Jinzhou)

221, Fubon Bank (Fubon Bank) Taiwan Province

224, Guiyang Bank (Bank Of Guiyang)

226. Bank of East Asia Hong Kong

238, Zhaofeng International Commercial Bank (Mega) Taiwan Province

240, Bank of Zhengzhou (Bank of)

247, the First Commercial Bank (Taiwan Province)

253, Taiwan New Bank (Taishin) Taiwan Province.

256, cooperative vault bank (Taiwan Province)

261, Harbin Bank (Harbin Bank)

276, Jiangxi Bank (Jiangxi Bank)

287. Wing Lung Bank (Hong Kong)

289, Qingdao Rural Commercial Bank (Qingdao Rural Commercial Bank)

301. Bank of Dongguan.

315, Yuanta Bank (Taiwan Province)

323, Guizhou Bank (Bank Of Guizhou)

327, South China Financial Holdings Taiwan Province

336, South China Commercial Bank (Hua Nan Commercial Bank) Taiwan Province

338. Bank Sinopac Taiwan Province

365. Bank of Qingdao.

367, Huarong Xiangjiang Bank (Huarong Xiangjiang Bank)

368. Bank of Taiwan Taiwan Province

373. Shanghai Commercial Bank, Hong Kong

380. Taiwan Province Business Bank Taiwan Province

381. Changhua Bank Taiwan Province

384, Bank of Suzhou (Bank of Suzhou)

387. The Shanghai Commercial & Savings Bank in Taiwan Province.

391. Dah Sing Bank Hong Kong

403, Gansu Bank (Bank Of Gansu)

414. Bank of Xi`An.

417. Land Bank of Taiwan Province.

422, Sun Hung Kai Co Hong Kong

423, Changshu Rural Commercial Bank (Changshu Rural Commercial Bank)

428, Hankou Bank (Hankou Bank)

431. Cathay United Bank Taiwan Province

467, the Union Bank of Taiwan Province.

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info@prnasia.com

Original title: "2021 Global Top 500 Bank Brand Value List, 76 Banks in China on the List"

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　　There are not many days between "stepping on the brakes" in late April and regaining the upward trend since early May.

　　On May 20th, the international gold price once again set a record high. London gold price and COMEX gold futures price both broke through the $2,440/oz mark and continued to attack. Domestic gold prices opened sharply higher, and SHFE gold in Shanghai Futures Exchange hit 582.44 yuan/gram. (Source: Wind)

　　After a break in late April, the price of gold once again opened the rising channel in May.

　　In the past two weeks, the inflation, employment, economic growth and consumption data released by the United States have weakened in an all-round way, the US dollar index and US bond interest rates have fallen back at a high level, and the market’s expected first interest rate cut has been advanced again, and macro bets have boosted the recovery of gold prices; On the weekend, the risk worries caused by the geopolitical conflict in the Middle East fermented and brought more safe-haven funds into gold.

　　Since March this year, the global gold price has ushered in a remarkable surge, and the gold price has been "soaring" all the way, and the banner of a record high has been refreshed again and again. At present, in the face of the complex intersection of short, medium and long-term influencing factors, how do you view the future trend of gold prices? Standing above the $2,400/oz mark of COMEX gold, can you still allocate gold?

　　The gold of the times

　　"Sometimes Betrayal" and "Never misjudge. "

　　How to treat the future trend of gold price? In the long history, gold has experienced many "bull and bear markets" step by step.

　　Before 1970s, the global monetary system actually took gold as the "anchor", with the US dollar pegged to gold and the major western currencies pegged to the US dollar. After the collapse of the Bretton Woods system in August 1971, it declared the end of the gold-linked era.

　　Since then, gold has experienced nine complete big markets, lasting for 32 months on average and increasing by 172% on average.

Source: Wind, open sourceresearch institute

　　The boosting factors of each gold bull market are closely related to the context of its times and are different from each other. However, no matter how the times change, most of the time it revolves around several real pricing logics closely related to the characteristics of gold itself:

　　① Financial attribute: gold does not bear interest, but it bears interest when holding US Treasury bonds. As the opportunity cost of holding gold, the real interest rate of 10Y US Treasury bonds is negatively correlated with the price of gold.

　　(2) Safe haven property: When financial, economic and geopolitical fluctuations or crises occur, the demand for safe haven of gold is often increased, which leads to a risk premium.

　　③ Currency attribute: Gold has certain substitution for the US dollar system, and the weakening of US dollar credit will benefit gold.

　　4 Commodity attributes: Gold can resist inflation, and the dollar will depreciate with inflation, so the higher the global inflation, the higher the price of gold.

　　This round of gold rising cycle began in November 2022 and has lasted for 16 months, with an increase of more than 40%. Then, from the above pricing logic, what factors have started this round of gold bull market?

　　From the traditional pricing framework, gold is a non-interest-bearing asset, and the real interest rate is the opportunity cost of holding gold. In other words, the interest rates of gold and US debt are in the same boat, and the downward interest rate will push the price of gold higher.

　　The rush of funds to the Fed’s interest rate cut expectations and the expectation of the easing cycle often become the catalyst for the rise of the gold market.

　　In the second half of last year, the Federal Reserve officially completed the current round of interest rate hikes for 11 times. After that, the US economic data slowed down in October, and the Fed’s interest rate meeting in November was biased. So far, it is the most historical interest rate hike cycle in the United States since 1980. It has basically become a consensus that when interest rate cuts become the general trend, gold will enter the rising market.

　　The trend of gold in the past 20 years can be found that the market of gold often begins with the end of interest rate hike, and finally monetary tightening or economic recovery. For example, at the end of interest rate hike in late 2006 and late 2018, the price of gold started a big rising cycle and the market went all the way to the end of the interest rate cut cycle.

　　However, in this gold bull market, we will find that the trend of gold has undergone subtle changes, and it seems that it is no longer satisfied with its limited play under the dollar order.

　　Especially since the beginning of this year, gold has become the focus not only because of its remarkable increase, but also because of its "challenge" to the traditional pricing framework: the law that the real interest rates of gold and the dollar and the United States usually change in the opposite direction has "failed".

　　Since April, the nominal interest rate of 10-year US debt has surged to nearly 4.7%, the real interest rate has risen from 1.87% to 2.41%, the US dollar index has risen from 104 to 106, but gold has soared by over 7% for a time, and it has only recently been slightly adjusted back. (Source: Wind)

　　Is there a new and more important pricing factor at work in this seemingly contradictory trend, or is it just an illusion caused by short-term emotional excitement?

　　Tracing back to the source, the bottom of the logic is the ultimate deduction of the safe-haven property of gold in the process of reshaping the global political and economic system. The occurrence of deviation and the failure of the anchor actually increase the "fragility" against the dollar.

　　Gold is a mirror image of the dollar, and the market in recent years has cast a vote of no confidence in the dollar. Although after the collapse of the Bretton Woods system, the world entered the credit currency system represented by the US dollar, and gold no longer has the functions of circulation and pricing, but it still maintains the role of value storage. Therefore, once the credit currency system represented by the US dollar is in crisis, gold will rise sharply.

　　Internally, in recent years, the US finance has continued to expand substantially, the debt scale has accumulated rapidly, and the problem of fiscal sustainability has caused social concern. Fitch downgraded the credit rating of US debt, which became the internal cause of the credit decline of the US dollar system. The rise of geopolitical risks and the rise of anti-globalization thoughts are the external causes of the decline of the credibility of the US dollar system. The freezing of foreign exchange reserves in some countries in the geopolitical conflict between Russia and Ukraine accelerated this process.

　　Internal and external factors are superimposed, the credibility of the dollar system is declining, and the world has entered the process of "dollarization". Central banks around the world have turned to gold as an anchor to stabilize foreign exchange reserves.

　　Gold sometimes seems to "betray" the traditional analytical framework, but what is never misjudged is the trend and background color. The gold of the times is generally the same.

　　The golden age

　　"Megatrend" and "Masterpiece"

　　After experiencing record highs again and again, the value of short-term transactions will decrease when standing above the threshold of COMEX gold of $2,400/ounce. A smoother rise may need to wait for catalytic factors. This is a change, but there are some unchanged ones, which ensures that the value of gold in large-scale asset allocation is still outstanding.

　　On the one hand, the "megatrend" under the current narrative background of the world remains unchanged, the US debt problem is hard to return, geopolitical events are frequent, the pattern of anti-globalization and dollarization may be further deepened, or the global central bank will continue to increase its holdings of gold, and the logic of long-term rise in gold prices is still there.

　　First, in the second half of the year, with the gradual realization of the expected interest rate cut in the United States, the downward trend of the real interest rate of the 10-year US debt is expected to support the gold price to a certain extent. However, considering that the interest rate cut is expected to rush since 2023, the persistence and elasticity of the subsequent gold market depends on the change of the expected difference.

　　Second, this year may become the biggest election year in history. In recent years, overseas risk events have continued, and the global economic policy uncertainty index center has risen, which also provides room for high gold prices.

　　Third, the game between big countries in the fields of politics, economy, industry and finance has been fully rolled out. Anti-globalization has brought about an increase in friction costs, superimposed energy transformation and inflation stickiness in the service industry, and it may be difficult for overseas long-term inflation centers to fall back quickly.

　　Fourth, on the chess game of the global economy, changes are quietly staged, the US debt problem is hard to return, geopolitical events are frequent, and the supranational sovereign credit value of gold under the new paradigm will constitute the medium and long-term investment logic.

　　Historically, the emergence of every round of gold bull market is inseparable from the strength of the gold currency attribute, which reflects the changing forces of all parties in the international monetary system.

　　According to the data released by the central bank on May 7, despite the recent rapid rise in international gold prices, the pace of the Bank of China’s increase in holdings has remained basically stable. At the end of April, China’s gold reserves were 72.8 million ounces, compared with 72.74 million ounces at the end of March. This is the people since October 2022.For the 18th consecutive month, it increased its holdings of gold reserves, setting the longest holding period.

　　Statistics show that at present, the proportion of gold in China’s international reserves is only 4.32%, which is still far below the global average of about 14%. The proportion of gold reserves in the United States, Germany, Italy and other countries in the same period is over 65%, so there is still room for improvement in the future. (Source: World Gold Council; Publicly reported)

　　From this point of view, the participants in the short-term gold game seem to face a strong opponent, which makes investors who try to play short-term gold games seem unwise and difficult to win.

　　On the other hand, after the rise, the return risk characteristics of gold itself have not changed, and the low correlation with other assets still exists, which ensures that the value of gold in the allocation of large assets is still outstanding.

　　In recent 20 years, the correlation coefficient between gold and other common large-scale assets is less than 80%, and the correlation coefficient between gold and the main indexes of A-share market is less than 50%:

　　The trend of dollar gold and Shanghai gold is highly consistent: the correlation coefficient between SHFE gold and COMEX gold is as high as 0.98 in recent 20 years. Although Shanghai gold is affected by the exchange rate of RMB against the US dollar, from the perspective of long-term allocation, the trend of the two is highly consistent;

　　The correlation between gold and A shares is low: gold and CSI 300,Most of the correlation coefficients are within 0.5, and those with equity funds and hybrid funds are within 0.7. (Source:Institute)

　　Taking the most common equal weight strategy as an example, we observe the effect of moderately increasing the gold allocation in the allocation of 28-share debt and 64-share debt respectively.

　　The calculation shows that moderately increasing gold allocation in the allocation of 28-share debt and 64-share debt can achieve a better strategy of increasing income and reducing risk at the same time.

　　In the benchmark strategy of 2:8 ratio of stocks and bonds, if 10% of funds are removed from bond assets and 5% from stock assets, the average annualized rate of return will increase by 0.69 percentage points, the maximum withdrawal will decrease by 1.97 percentage points, the annualized volatility will decrease by 0.38 percentage points, and the annualized Sharp rate will increase by 0.199.

　　On the benchmark strategy of 6:4 ratio of stocks and bonds, if 15% of funds are removed from bond assets and 5% from stock assets, the average annualized rate of return will increase by 1.11 percentage points, the maximum withdrawal will decrease by 1.57 percentage points, the annualized volatility will decrease by 0.71 percentage points, and the annualized Sharp rate will increase by 0.091. (Source: Institute)

　　On the other hand, this forever shiningNo one can predict how long its history will develop. However, the history of gold over thousands of years makes people reasonably believe that future generations will also be fascinated by gold.

　　How to allocate gold? Physical gold has always been regarded as a "safe haven", which is more suitable for investors who pursue a sense of security and long-term value storage, but it needs to be carefully stored to prevent its value from being affected by wear and tear.

　　In contrast, gold-related theme funds, such as gold stock ETF or gold ETF, provide a more convenient choice for market transactions, but when the market is hot, it is also necessary to maintain the principle of rational investment and avoid paying for high premiums.

　　However, no matter which variety you choose, you must pay attention to the position control when allocating gold. Gold is more suitable as a part of asset allocation rather than a heavy position or a single layout, and the usual position ratio is 5-10%.

　　As far as the current gold investment is concerned, perhaps the answer before investors is this:Moderately downplay the short-term trading value of gold, look for the opportunity to point gold in the shock, and explore the gold value in asset allocation from the perspective of long-term allocation.

　　(Article source: Huaxia Fund)

This article comes from WeChat WeChat official account:Interface news (id: wowjiemian), Author: Zeng Yanglin, You Miao, Editor: Peng Jieyun, original title: "Is the end of the Internet lending? Revealing the Financial Traffic Business of Video Head Players, the head picture comes from: vision china.

"Get a free video VIP member for one month", "Get a monthly card for xx video members within a limited time" and "Get a free VIP for 18 months" … Nowadays, you can see the gimmick of "get a free VIP" on many video platforms, only to find that they are all diverting the loan service.

"The end of the Internet is lending." In this regard, some netizens joked.

Customer diversion for P2P online lending business was once a steady business for major video platforms. At present, although P2P has withdrawn from the historical stage, it has not stopped the ambition of realizing the traffic of these companies. It is understandable to do financial business based on traffic, but there are many hidden risks such as infringement and disclosure of personal privacy, false information propaganda, low-interest induced lending, and loan bundling insurance, which deserves the vigilance of head video platforms.

As the head platform for short video and long video, Tik Tok, Aauto Quicker and "Ai Youteng"(Iqiyi, Youku, Tencent Video)What is the layout of financial services? The interface journalist test found that the financial depth of the above five video head platforms App layout has its own speed. Some are deeply rooted in the layout, while others always exercise restraint.

First, iQiyi is the most radical.

In the long video head platform "Ai Youteng", iQiyi’s financial layout is the largest, followed by Tencent Video, while Youku is relatively restrained and conservative.

Interface journalists combed and found that,Iqiyi cooperates with a number of institutions to guide the flow of a number of financial lending products, and it also has a credit service platform "Xiaoye Loan".

When the interface journalist clicks "My Wallet" on the iQiyi App, an advertisement pop-up window of "Free VIP membership for one month within a limited time" appears. After clicking "Free Collection", he immediately jumps to the page of "Wing Pay Sweet Orange Borrowing Money", which shows that "the first loan will give a one-month iQiyi VIP, and the new user will receive a 30-day first interest-free coupon, which will reach 750 yuan at the highest".

According to the page, "Wing Pay Sweet Orange Borrowing" is a borrowing platform for Wing Pay under China Telecom. Users can borrow up to 200,000 yuan, with an annualized interest rate of 7.2%.(subject to approval)The loan will arrive in 3 minutes at the earliest, and the source of funds is immediately consumer finance co., ltd.

In addition to guiding the lending products of "wing payment and borrowing money from sweet orange", a number of lending products are also recommended in "My Wallet" of iQiyi App Android client, including "Xiaoye Loan" under iQiyi, "Borrowing Flowers" under Ctrip Finance, "Withdrawing Money" under Zhongyuan Consumer Finance, saving money, 360 IOUs under 360 subjects and 360 small change flowers, Gome Easy Card and so on.(orange staging)Credit products such as small win and easy loan, "rich flowers" under Du Xiaoman Finance, "Zhongan loan" under Zhongan Insurance, Minsheng grain loan under Minsheng E-commerce, Suning Financial willful loan, and Lehua card under installment music.

Photo: Zeng Yanglin, a lending product diverted by iQiyi App, arranged it.

However, the interface journalist also noticed that compared with the Android mobile phone client, there are very few lending products recommended in the Apple iOS client of iQiyi App, and only iQiyi’s "Little Bud Loan" and Zhongyuan Consumer Finance "Raise Money" and Wing Pay three products.

Figure: Iqiyi App shows comparison on the lending platform of Android client and Apple client.

After testing, the interface journalists found that except for its platform "Xiaoya Loan", the rest of the credit products could not be directly borrowed on the iQiyi App, only to let users register as users of the loan platform, and then remind them that they need to download the corresponding App or pay attention to WeChat official account before borrowing.

The customer service of Xiaoya Loan told the interface journalist that Xiaoya Loan was developed, operated and managed by iQiyi, and all loan products and/or services were provided by regular licensed financial institutions with loan issuance qualifications.

Previously, when the product was launched at the end of 2019, the official said that Xiaoya Loan was independently responsible by licensed financial institutions and managed the whole process services such as risk control review, fund supply, post-loan handling and risk taking. iQiyi provided users with internet financial information and provided technical support for financial institutions and user credit services.

From the product description, iQiyi provides loan assistance services for Xiaoya Loan. According to public information, iQiyi has not yet obtained any financial-related licenses.

Second, Tencent video is the diversion of its own products, and Youku only cooperates with banks to open cards.

Comparatively speaking, Tencent video is not so radical, it only provides pure diversion service, and more serves Tencent’s own system.

Tencent Video App’s credit product "Goose Spend Money" in the financial sector is provided by Tencent’s Weizhong Bank, with a maximum loan amount of 50,000 yuan and an annualized interest rate.(simple interest)Minimum 7.2%. In addition, Tencent Video App also showed the insurance products of Weibo, an insurance brokerage platform of Tencent, including millions of medical insurance, accident insurance and aviation delay insurance.

However, interface journalists are concerned that although Tencent Video App does not guide other loan products in the "Finance" section, the carousel advertising space in the "Selected Columns" of its homepage often shows some small loan platform loan advertisements, and most of the loan products are provided by small loan companies, such as CYTS Jinfu Internet Microfinance Co., Ltd., Chongqing Zhonghong Microfinance Co., Ltd., Xi ‘an Xinghe Network Microfinance Co., Ltd. and Chongqing Pig Bajie Yichuang Microfinance Co., Ltd.

Photo: The advertising space in the "Selected" column of Tencent Video is a diversion for multiple lending platforms.

Interface journalists randomly tested one of the loan products pushed by the advertising space of Tencent Video App. After clicking the advertisement, they need to fill in information such as name, mobile phone number and mobile phone verification code, and check whether there are options such as housing, commercial insurance, social security, full car, provident fund and corporate tax payment. Soon after clicking "Apply for a loan", it will help the staff of the loan company to call, manually verify personal information, and push the information filled by the user to the cooperative bank, which will then.

Also as a video platform of the Internet giant, Ali’s Youku App is relatively "conservative" in financial business. Although there is a column of "My Finance" on the App, the related financial business is only the activities of opening cards and sending videos to members in cooperation with banks, such as opening electronic accounts in cooperation with Suzhou Bank and Agricultural Bank, and co-branded cards in cooperation with CITIC Bank and Huaxia Bank.

Third, the financial license blessing Tik Tok loan business, Aauto Quicker is also seeking to pay the license.

Among the two short video platforms, Tik Tok took the lead and Aauto Quicker was "ready to move".

At present, there are two loan products in Tik Tok Wallet, namely "DOU installment" and "safe borrowing", the former is similar to "flower shop" and the latter is similar to "borrowing shop".

The former focuses on "consumption before payment", which can be used in Tik Tok for live shopping, small shop shopping and purchasing "DOU+ popular" service. It can be divided into 3, 6 and 12 installments, with a maximum amount of 30,000; The latter is a consumer credit service product with annualized interest rate.(simple interest)It is 10.8% ~ 24%, and the maximum amount is 200,000.

Figure: Tik Tok’s "DOU installment" and "safe loan" credit products.

Behind the "DOU installment" and "safe lending", it is inseparable from the blessing of two financial licenses acquired by Tik Tok’s parent company ByteDance, namely the third-party payment license and the small loan license.

The third-party payment license is Wuhan Hezhong Yibao Technology Co., Ltd., which is wholly acquired, and the small loan license is Shenzhen Zhongrong Microfinance Co., Ltd.(hereinafter referred to as "Zhongrong Small Loan Company")Tik Tok’s two loan products are funded by Zhongrong Small Loan Company and its cooperative financial institutions.

According to the interface news, Zhongrong Small Loan Company has recently increased its capital to 5 billion yuan, and its legal representative, chairman and general manager have all been changed to Ding Boxun. Ding Boxun previously worked in ByteDance’s "Finance-Consumer Finance" business department. Although there is no direct relationship between ByteDance and Zhongrong Small Loan Company in terms of ownership structure, in April 2020, Zhongrong Small Loan pledged its equity to Shenzhen Today Headline Technology Co., Ltd.. At the same time, the mailbox of Zhongrong Small Loan Company was changed to ic-report@bytedance.com, the official mailbox of ByteDance.

In order to increase the scale of users who pay in Tik Tok, Tik Tok Wallet recently launched the activity of "Tik Tok Pay Binding Bank Card to Send Shopping Coupons", with the coupon amount ranging from 5 yuan to 11.8 yuan.

It can be seen that ByteDance’s payment and small loan licenses are more helpful to Tik Tok’s own e-commerce and local life, and its insurance brokerage and securities investment licenses have not been seen yet.

Although Aauto Quicker launched the "Aauto Quicker Wallet" earlier, it has not yet directly laid out its financial business. However, for the acquisition of financial licenses, Aauto Quicker is also "ready to move".

According to Tianyancha data, on August 31st, 2020, Aauto Quicker applied to register the trademark of "Laotie Payment" through its Beijing Dajia Internet Information Technology Co., Ltd..

In November of the same year, some media quoted people familiar with the matter as saying that Aauto Quicker indirectly obtained a payment license by acquiring a licensed payment institution, Yilian Payment. On the way of acquisition, Aauto Quicker acquired Yilian in the form of cash and shares, of which cash is about 300 million RMB, and the amount and value of shares are unknown. After the acquisition, Aauto Quicker will hold more than 50% of the shares and become the largest controlling shareholder of E-link Payment.

Regarding the acquisition of payment license, Aauto Quicker disclosed in the prospectus in January this year: "Aauto Quicker signed an agreement in August 2020 to acquire 100% equity of a payment company with an initial consideration of RMB 850 million in cash. As of the date of this report, the acquisition has not been completed. "

Interface journalists inquired about the national enterprise credit publicity information system and learned that at present, the only shareholder of Yilian Payment is Yilian Financial Control Information Co., Ltd., and the control rights of related companies have not changed hands.

Fourth, the risk of consumer privacy disclosure is high, and personal information is "disconnected" or opened.

According to the data released by Trustdata, a third-party data platform, in May 2021, the monthly active users of vibrato short videos.（MAU）About 453 million, Aauto Quicker MAU is about 268 million, iQiyi MAU is about 229 million, Tencent video MAU is about 172 million, and Youku MAU is 73 million.

"It is normal to generate finance based on traffic, but(both)It is really necessary to separate them. If they are mixed together, it may harm consumers’ interests and personal privacy will be violated. Li Yang, chairman of the National Finance and Development Laboratory, mentioned it at Caixin Summit.

An employee of the head small loan company who did not want to be named told the interface journalist.Some small and medium-sized lending platforms guided by video apps are not very formal, which may easily lead to the disclosure of personal information.Among them, some platforms will "package" the personal information filled in by users and sell it to third parties in pursuit of benefits. As long as a user has applied for a loan on a lending platform, the marketing calls and text messages of other lending platforms will be bombarded one after another, causing troubles to users.

Interface journalists have tested a number of mainstream loan apps in May, and they still receive harassment from marketing messages and phone calls. The tested lending platforms will call from time to time to induce journalists to borrow money from the platform in the name of issuing interest-free coupons and "reserving loan quotas".

In addition to receiving phone calls and text messages that have tested the App, the reporter also received some App text messages that have never been tested, including enjoying borrowing, paying back, patting and lending, and saving money.(See the report for details:After "collective makeup removal for mainstream loan App", it was bombarded by marketing. Who leaked my personal information? 》)

It is worth mentioning that the phenomenon of personal information being leaked in Internet platform lending has also attracted regulatory attention.

The interface journalist learned from the industry that the Credit Bureau of the People’s Bank of China recently issued a notice to a number of major online platform institutions, requiring these online platform institutions not to directly provide information voluntarily submitted by individuals, information generated in the platform or information obtained from outside to financial institutions in the name of application information, identity information, basic information and personal portrait scoring information.

In the notice, the requirement for the new business cooperation process after rectification is "platform-credit reporting agency-financial institution", which the industry calls "disconnected direct connection" of personal information.

In this regard, Su Xiaorui, an expert in financial science and technology, said that this can be regarded as an overall arrangement of the collection, processing and processing of personal information for loan assistance and joint loan business, emphasizing that such businesses should be put under the overall framework of personal credit reporting business management and rectified according to the business cooperation process of "platform-credit reporting agency-financial institution".

Su Xiaorui said,In the traditional mode, users are first acquired by platform institutions by virtue of their own traffic advantages or intelligent marketing means, and users fill in registration information on the page of platform institutions or the joint page of platform institutions and financial institutions, thus retaining user information and generating data value.

Measures for the Administration of Credit Information Business(Draft for Comment)It has been proposed that the use of credit information to make portraits and evaluations of individuals and enterprises is recognized as credit information business; Article 7 of the Regulations on the Administration of Credit Information Industry promulgated by the State Council clearly stipulates that no unit or individual may engage in personal credit information business without the approval of the supervision and administration department of credit information industry in the State Council; Therefore, this rectification has released a signal to the market, that is, the personal credit investigation business needs to be licensed.

Regarding the impact of this regulatory action, Su Xiaorui predicted that after this regulatory action, a formal document will be issued to systematically and comprehensively standardize the basic processes and cooperation modes of personal information business involving loan assistance and joint loan. She also predicted that,There will be more platform institutions seeking personal credit information licenses.

In addition to the risk of personal information disclosure, there are other hidden dangers in the lending business of video App.

On Internet complaint platforms such as black cat complaints, many users have reported that there are some problems in the lending function of some video apps, such as false propaganda, inducing lending with low interest rates, and bundling insurance with loans.

An Aiqiyi Xiaoye loan user complained that he borrowed more than 5,000 yuan on the platform because of the "7-day interest-free coupon" issued by the Aiqiyi App "Welfare Center", but found that there was no interest reduction when he repaid it two days later. After many complaints, Aiqiyi customer service pushed the responsibility to the lending institution and asked the user to go to the lending platform to complain.

"I borrowed 5,000 yuan from Xiaoya Loan and repaid it in 11 installments. When I first repaid it, I found that I was forced to buy insurance. At the beginning of the loan, I didn’t tell you that I needed to charge premiums." Another user of Xiaoya Loan reported that the first installment required repayment of the principal of 445.19 yuan, interest of 24.31 yuan, and the item of premium of 71.37 yuan, and the total premium of 11 installments was close to that of 800 yuan.

In addition, many users of Tik Tok "Relieved Borrowing" reported that after the loan expired, there was no "repayment entrance" in Tik Tok, and these complaints were still displayed as "being processed".

This article comes from WeChat WeChat official account:Interface news (id: wowjiemian), Author: Zeng Yanglin, You Miao

Machine heart report

Editor: Chen Ping, Du Wei

Have you ever seen a drone that can withstand a strong gust? Researchers at the California Institute of Technology use deep neural networks to make drones no longer afraid of the wind.

When the wind is strong enough to blow out the umbrella, the drone is steady, like this:

Flying against the wind is a part of air flight. On a large scale, when pilots land their planes, the wind speed may bring them challenges. On a small scale, gusts will also affect the flight of drones.

At present, drones either fly under controlled conditions and have no wind; Or operated by humans using a remote control. Unmanned aerial vehicles are controlled by researchers to fly in formation in the open sky, but these flights are usually carried out under ideal conditions and environments.

However, in order for UAVs to perform necessary but daily tasks autonomously, such as delivering packages, UAVs must be able to adapt to wind conditions in real time.

In order to make the UAV have better maneuverability when flying in the wind, a group of engineers from California Institute of Technology developed a deep neural network Neural-Fly, an artificial intelligence tool, which can keep the UAV agile in windy conditions, and only need to update some key parameters to help the UAV cope with new and unknown wind conditions in real time.

At the beginning of the article, we have seen the wind resistance of the UAV. The following shows a quadrotor UAV. With the help of the tool developed by this research, it can complete the figure-eight shuttle operation when the wind speed reaches 27 mph:

Watch the drone flying against the wind from another angle;

In order to allow the UAV to shuttle in various wind speeds, data is essential. This research needs little data. After obtaining the flight data in just 12 minutes, the automatic quadrotor UAV equipped with Neural-Fly learned how to respond to strong winds. "The amount of data used is very small," said Michael O’Connell, a graduate student in the Department of Aeronautics and Astronautics at California Institute of Technology and one of the authors of the paper.

The study was published in the journal Science Robotics on Wednesday.

Address: https://www.science.org/doi/10.1126/scirobotics.abm6597.

ArXiv Address: https://arxiv.org/pdf/2205.06908.pdf

In the Neural-Fly experimental training, the UAV flies in the wind tunnel with six different wind speeds, the fastest of which is 13.4 mph.

Based on these data, the team created a deep neural network, and then enabled their aircraft to skillfully maneuver in the same wind tunnel, such as enlarging the gate in a figure-of-eight pattern or cruising through two oval gates. The speed of the drone in the test is faster than it encountered in the training: about 27 miles per hour. This is the maximum wind speed that the wind tunnel can produce, pointed out Shi Guanya, the author of this paper and a graduate student of California Institute of Technology. Except that only a small amount of data is needed, the software only runs on Raspberry Pi, which is a cheap computing device.

Soon-Jo Chung, a professor of aerospace, control and dynamics systems at California Institute of Technology and a correspondent, said that the error rate they saw was 2.5 to 4 times better than that of the existing SOTA technology.

The picture below shows Shi Guanya, Soon-Jo Chung and Michael O’Connell from left to right. Congratulations, Shi Guanya will join the Robotics Institute of Computer College of Carnegie Mellon University as an assistant professor in September 2023.

The researchers said that this technology will be used for drone express delivery or flying cars in the future.

Overview of Neural-Fly technology

If unmanned aerial vehicle (UAV) wants to realize continuous commercialization, it is very important to perform safe and accurate flight maneuvers in dynamic high-speed wind. However, because the relationship between different wind conditions and their influence on the maneuverability of UAV have not been deeply studied, it is challenging to design an efficient robot controller using traditional control design methods.

"Neural-Fly" proposed by researchers of California Institute of Technology is a data-driven method. As a trajectory tracking controller based on deep learning, it can learn to adapt to rapidly changing wind conditions. Figure 3(A) below shows the data collection process; 3(B) When the wind speed is 13.3km/h (3.7m/s), input and label the training data; 3(C) is the distribution of input data and label data under different wind conditions.

On-line Adaptive+Off-line Meta-learning

Figure 2 below is an overview of the Neural-Fly method, which shows that it has made progress in adaptive flight control and robot control based on deep learning. Under the dynamic wind conditions of standard UAV, Neural-Fly can track the centimeter-level position error of flexible and challenging trajectory. Specifically, this method mainly consists of two parts, namely, offline learning stage and online adaptive control stage for real-time online learning.

For the off-line learning stage, the researchers developed Domain Adversarial Invariant Meta-learning (DAML), which learned the expression of deep neural network (DNN) which is independent of wind conditions in a data-efficient way. This representation adapts to different wind conditions by updating the linear coefficients of a set of mixed depth neural network outputs.

DAIML also has data efficiency, and only 12 minutes of flight data under six different wind conditions are used to train the deep neural network. DAIML contains several key features, which can not only improve data efficiency, but also provide information by the downstream online adaptive control stage.

It is worth noting that DAIML uses spectral normalization to control the Lipschitz property of deep neural network, so as to improve the generalization ability of unknown data and provide closed-loop stability and robustness. In addition, DAIML also uses discriminant network to ensure that the learned representation is wind-invariant, and the wind-related information is only included in the linear coefficient that adapts to the online control stage.

For the on-line adaptive control stage, researchers developed a regularized compound adaptive control law, which is based on the basic understanding of how the learned representation interacts with the closed-loop control system and has strict theoretical support.

Specifically, the adaptive law uses the combination of position tracking error term and aerodynamic prediction error term to update the linear coefficient related to wind. This method effectively ensures the stability and rapid adaptation to any wind conditions and the robustness to imperfect learning. Although this adaptive control law can be used with many learned models, the accurate representation learned from DAIML is helpful to further improve the adaptive speed.

experimental result

As far as the effect of Neural-Fly is concerned, it is 66% higher than that of nonlinear tracking controller, 42% higher than that of L_1 adaptive controller and 35% higher than that of incremental nonlinear dynamic inversion (INDI) controller. All these results are achieved by using standard quadrotor UAV hardware, and the default attitude control of PX4 is running at the same time.

The tracking performance of Neural-Fly is competitive even compared with related work without external wind interference and using more complicated hardware (such as on-board optical sensor that needs 10 times control frequency and uses DC motor speed feedback).

Table 1 below shows the error tracking statistics of different methods under different wind conditions.

The researchers compared Neural-Fly with two variants, namely Neural-Fly-Transfer and Neural-Fly-Constant. Among them, NF-Transfer uses representations trained from data of different UAVs, while NF-Constant only uses adaptive control laws with trivial non-learning basis.

Neural-Fly-Transfer shows the robustness to UAV configuration changes and model mismatch. NF-Constant, L_1 and INDI methods all directly adapt to unknown dynamics without assuming the underlying physical structure, and they have similar performance.

Finally, the researcher proves that Neural-Fly can realize a series of functions, allowing the UAV to follow the trajectory and fly over the low-altitude door quickly under the condition of strong wind, as shown in Figure 1 below.

Reference link:

https://www.science.org/doi/10.1126/scirobotics.abm6597

https://www.popsci.com/technology/neural-fly-ai-drone-in-wind/? THE END

Please contact Ben WeChat official account for authorization.

Contribute or seek reports: content@jiqizhixin.com.

Original title: "Have you ever seen a drone that can hold strong winds? Caltech teaches drones to fly against the wind with 12 minutes of flight data.

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Since March, the price of gold has continued to rise, setting a new record! The domestic gold price once appeared "overnight soaring". After accumulating a large increase, recently, the international gold price fluctuated at a high level, and the gold price that had previously maintained an upward trend sat on a "roller coaster".

How to rationally allocate limited assets in the gold market and make sustained profits has become an urgent problem for investors.

The price of gold suffered a major decline after the peak.

On April 12, local time, Loco London gold rose all the way in the morning, rising nearly 2.5% in intraday trading, but then plunged sharply, which not only retreated all the gains of the day, but also finally closed with a decline of 1.25%, with a retreat of nearly 4% in the day; Futures prices also followed the spot price out of a similar market. COMEX gold futures once rose more than 3% in intraday trading and finally closed down 0.53% at $2,360.2 per ounce.

Affected by the high diving of the international gold price, the increase of Shanghai Gold also narrowed on the night of April 12, and it once rose more than 4% in intraday trading, and then it was adjusted back, and the increase fell back to 0.15% at the close.

On the evening of April 10th, the latest data of ——CPI (Consumer Price Index), the most critical inflation data before the Federal Reserve’s May resolution, was released. The US CPI rose by 3.5% year-on-year in March, which was higher than the market expectation of 3.4%. This figure intensifies the fear that inflation will accelerate again, which means that the possibility of the Fed cutting interest rates in June will decrease. The market’s expectation of the timing and frequency of the Fed’s interest rate cut this year has also changed to two times since September.

After the data was released, the international gold and silver prices fell briefly. However, the year-on-year growth rate of the US PPI (ex-factory price index of industrial producers) in March announced on the evening of 11th was slightly lower than expected, and the chain growth rate slowed down to 0.2%, which made gold and silver "rebel" again.

On April 12, COMEX gold reached a maximum of $2,448.8 per ounce; Spot gold in London once reached $2,431.78 per ounce, both hitting record highs.

The gold price of jewelry is almost equal to 730 yuan/gram.

High prices "persuade" consumers

For the recent rise in gold prices, many netizens have commented on "regret not getting on the bus" and "the price of gold jewelry is too high". Some netizens also said, "Now this price is just needed and I dare not buy it."

"This period of time is a price per day. Generally speaking, it is a small increase or a small increase." The sales of a gold shop in Chengdu told reporters, "The price of gold has really risen too high recently, and many consumers are waiting to see. I have served a couple who are about to get married before, bought a ring before the New Year, and recently wanted to buy earrings, bracelets and other accessories, just because the price of gold has risen too high recently, I have been hesitating."

The salesperson told reporters that if you are in a hurry to get married, you can consider platinum rings, and there has been no big price fluctuation recently.

The reporter visited several brand gold stores in Chengdu and found that the listing price of gold jewelry today is slightly lower than that of 730 yuan per gram a few days ago. At present, the prices of jewelry in gold jewelry stores of brands such as Lao Fengxiang, Chow Tai Fook and Zhou Shengsheng are mostly between 720 yuan and 728 yuan per gram. In the actual purchase process, different brand stores will give different degrees of concessions through in-store concessions, discounts and full reduction, and the final price will be between 680 yuan and 710 yuan per gram.

"The peak period of gold consumption is generally around the New Year. Now, after entering March and April, consumers’ purchasing enthusiasm has declined, and passenger flow and transactions will be less." A clerk in a gold jewelry store told reporters that the price of gold has been rising recently, and some "non-just-needed" consumers will also choose to wait and see.

Explore the reasons for the sudden drop in the price of gold

After analysis, the researchers studying financial issues in the Climate Change and Energy Transformation Project of Peking University Energy Research Institute believe that the main reasons for the current downward trend of gold prices are as follows:

First, the value of the dollar has risen. As a substitute for the reserve currency, gold has an inverse relationship with the value curve of the dollar. Recently, the value of the dollar has suddenly increased, and investors have chosen to buy a large amount of dollars and sell gold at the same time, and the price of gold has decreased accordingly.

Second, the interest rate is raised. Recently, former US Treasury Secretary LawrenceSummers said in an interview with relevant media that the public should accept the possibility of raising interest rates by the Federal Reserve, rather than lowering interest rates. Therefore, the increase of interest rate will make investors consider whether it is reasonable to continue to buy gold without interest, which will lead to a decline in their willingness to buy, and then affect the price of gold.

Third, the expected production capacity of gold ore has increased. According to the relevant data released recently by Canadian mining giant osino, its Gemini mine project in Namibia will provide its parent company Yintai Gold with a gold production capacity of not less than 5 tons/year after it is put into production. Yintai Gold expects that the total gold production will rise to 12 tons in 2025. At the same time, Zijin Mining also expects the gold production capacity to rise to 73.5 tons in 2024. It can be seen that the increase in gold production will lead to oversupply, which will lead to a decline in gold prices.

Experts believe that the particularity of gold itself determines that it has an extremely complex market environment. For investors, it is necessary to always remember not to blindly follow the trend, "chase up and stop falling", carefully analyze the reasons for the rise and fall of the value of the invested products, and make a reasonable investment plan according to their own wealth level. Only by doing what they can can be stable and lasting and be invincible in the market. (Wu Shihao)

Comprehensive from shanghai securities news, china economic herald, China Business Daily, cover news, etc.

If we go back to 2003, no one can predict how much weight the Post Bar born in that year will occupy in Baidu’s territory. However, in the next 12 years, Baidu Post Bar has steadily and steadily become an important position with a huge number of users and occupying the only social product in Baidu’s entire product system. The various attempts of the business model of Post Bar can also be regarded as a microcosm of the commercialization exploration of China’s online social platform.

From the original forums, Blog, SNS, alumni records, Renren. com, and the rise of Weibo and WeChat in recent years, the wave of social platforms has changed. Many products that once resounded across the country can only survive or even disappear, but the post bar is enduring. The huge user scale, coupled with multi-dimensional and highly segmented groups such as interest, region and identity attributes, makes Post Bar with huge traffic and massive precipitation content become a "gold mine" with great potential.

But even with "the right time, the right place and the right people", Baidu Post Bar has always been alert and cautious, committed to finding the best balance between user experience and commercialization, and slowly carried out various attempts to adjust its own rhythm.

The commercial potential of the post bar detonated by the draft of Xiao He Lou Jiao twelve years ago

In 2003, as the forum (discussion area) began to gradually transfer from four portals to Tianya, Xici, Maopu and other websites, the concept of Blog was still in the initial stage of brewing. Baidu seized this good opportunity to create Baidu Post Bar, which not only enriched the content results of Baidu search engine, but also helped Post Bar quickly accumulate initial users with the help of the long tail effect of search.

During this period, the whole Internet form began to move from the 1.0 era of one-way communication to the 2.0 era of two-way interaction, and the interaction desire of young netizens that had been suppressed for a long time was stimulated intensively, and the product form of Baidu Post Bar just effectively filled this user demand, so it quickly gathered a very high platform popularity.

In 2005, the "Super Girl" draft held by Hunan Satellite TV showed people the power of fans, and also let Post Bar taste the dividend of fan culture. A large number of fans gathered in the super girls’ post bar and had a heated discussion for a long time. Alexa data at that time showed that with the help of Baidu Post Bar, Baidu’s traffic surpassed Sina in one fell swoop and became the largest Chinese website in the world. The first appearance of fan power made people inside and outside the industry smell the great commercial value lurking in Post Bar. However, because the online marketing model was relatively simple at that time, Post Bar did not rush to pursue profit speed, but put the depth of cultivating platform in the first place.

Leverage the Olympic Post Bar to test fan marketing.

Since 2008, the Internet in China has entered the golden age of rapid development. The surge in the number of netizens and the emergence of mobile Internet have spawned various online marketing models. Baidu Post Bar, which has a huge user scale and huge traffic advantages, has also begun to explore the diversified direction of commercialization.

During the Beijing Olympic Games, Baidu Post Bar cooperated with Adidas, Yili and other first-line brands to plan a series of marketing activities, and introduced the Olympic enthusiasm of netizens into the Post Bar. The marketing of this big event successfully attracted a large number of bar friends to participate.

In 2009, Baidu Lighthouse, the first interactive marketing product in China, was officially launched, focusing on tapping the precise marketing value of Post Bar.

In 2010, the launch of "Post Bar Mall" made it possible to realize social traffic. Props, value-added applications, personalized services, etc. made Post Bar earn C-end income, and at the same time, it greatly promoted the activity of Post Bar and improved the user system.

During the London Olympic Games in 2012, Baidu Post Bar became the main battlefield of online Olympic marketing. Taking Coca-Cola as an example, it selected 30 post bars including Sun Yang Bar, Chen Yibing Bar, Liu Xiang Bar and Gymnastics Bar, and posted in the selected post bars through official accounts to cheer for Olympic athletes, and naturally implanted interactive activities with specific themes to promote and solidify its brand. The promotion of Coca-Cola in the Post Bar has covered more than 10 million people, the brand has been displayed as high as 30 million times, and the video has been played 100,000 times. At that time, Weibo was in full swing, and some even declared it as "the pulse of the earth", but advertisers did not dare to ignore Baidu Post Bar. The deep interaction among users of Post Bar can quickly touch, transform and expand the fan base, forming an ecological closed loop of multi-directional, in-depth, efficient and self-growing fan marketing, which is the core advantage that Weibo platform does not have.

Looking back on the period from 2008 to 2013, it was the adolescence of Internet in China. The characteristics of active but restless users not only increased the commercialization opportunities, but also brought greater challenges to the realization of traffic. Fortunately, Baidu Post Bar’s several attempts have not only failed to drain users, but also gained great recognition, especially the cooperation activities during the two Olympic Games have become classic online marketing cases.

Force community fan marketing to dig deep into the value of post bar platform

2014 seems unremarkable, but there are two figures that make this year destined to go down in the history of Internet development in China.

In this year, Internet users in China approached half of the total population for the first time, and the scale of mobile phone users surpassed PC users for the first time. Because of this, the commercial focus of China has also shifted from offline to online, and enterprises have entered an era that needs in-depth communication with consumers. Some people therefore call 2014 the beginning of the Internet 3.0 era. In this context, the commercialization process of Baidu Post Bar began to rapidly enter the rising channel.

In July 2014, Baidu Post Bar announced the official launch of the enterprise platform strategy, and established a fan community for enterprises, institutions, media and other partners by opening the official post bar. This move attracted many powerful enterprises in the media, technology, finance and other industries to settle in. Mobile phone brands such as Meizu and Xiaomi regard the official bar as the most important marketing position.

For vertical industries with broader themes such as "beauty" and "education", Baidu launched the "Post Bar Partner" model in 2015, which opened the operation rights of vertical post bars to partners, provided more professional services for users of related bars, and also expanded its own profit model.

With the help of 100,000 stars and 300 million fans, Baidu Post Bar built the brand of Post Bar Entertainment, which quickly entered the film marketing industry in 2015, making Baidu Post Bar one of the most important film and television marketing platforms. The Nine-story Demon Tower with Ghost Blowing Lights jumped to glutinous rice through the related star bar header, and about 200,000 tickets were issued. Popular variety shows such as Running Man have been deeply interacting with fans in the post bar for a long time. IP-adapted writers of popular online literature such as "God of Heaven" and "Who’s Youth is Not Confused" have all held huge casting activities in their respective post bars, and achieved good results.

The longevity of post bar comes from the youthfulness of core users. According to the data, more than 60% of the 12-year-old Baidu Post Bar’s active users in 300 million months are post-90s. They grew up in the Internet age and are deep Internet users. Among them, 80% of users’ behaviors come from the mobile terminal. Post Bar users not only have strong spending power, but also are generally willing to accept new things. These user characteristics are the natural advantages of Post Bar itself. Throughout the commercialization process of Post Bar, every attempt is centered on the experience of these users, keeping up with the development trend of the Internet, and adapting to the changing rhythm of consumer behavior to the greatest extent. After a series of explorations, the gap between commercialization and users is gradually bridged by Post Bar.

For the Internet social platform, realizing traffic is both a paradise and a hell. If you are not careful, it will slide to the bottom. Along the way, Baidu Post Bar finally crossed the threshold of realizing with the mentality of taking the Long March. This year marks the 12th anniversary of Baidu Post Bar. In the traditional calendar of China, 12 years is the end of a cycle and a new beginning. As the Internet goes deeper and deeper into people’s lives, the prospect of achieving a win-win situation in products and business is more and more promising.

　　High-precision images obtained by Fengyun-4 B star

　　The first one

　　It is equipped with the world’s first day and night high frequency imaging instrument.

　　First batch

　　Successfully acquired the first batch of high-precision images and data.

　　first time

　　Clearly see the minute-level wind and cloud change process with the naked eye.

　　First time

　　Realize the wish of "seeing where there is a disaster quickly"

　　The Weather Forecast broadcast on July 1st published a satellite cloud picture, which attracted the attention of many netizens. This is the first operational star of a new generation of geostationary meteorological satellites in China — — The first batch of high-precision and high-efficiency visible light observation images successfully obtained by Fengyun-4 B star.

　　On the full-disk satellite cloud image, the snow in Tianshan Mountain, the surface texture of lakes and Hetao areas in Qinghai-Tibet Plateau, convective clouds in Northeast China and North China, and vortex clouds in high latitudes in the northern and southern hemispheres are clearly visible.

　　These images can visually show the fine structure of convective clouds, and the temporal and spatial resolution is increased from 5 minutes and 500 meters to 1 minute and 250 meters respectively, which improves the continuous and rapid monitoring ability of small and medium-sized clouds, and is of great significance for the monitoring and early warning of severe convective weather, especially for the monitoring of sudden small and medium-sized weather systems.

　　Fengyun-4 b star successfully acquired

　　The first batch of high-precision images and data

　　Fengyun-4 B satellite was successfully launched on June 3, and it is the first operational satellite of the second generation geostationary meteorological satellite in China. It is mainly used in weather analysis and forecasting, environment and disaster monitoring and other fields. The satellite, which is in the on-orbit test, successfully obtained the first batch of high-precision data and image products. On the full-disk satellite cloud image, the snow in Tianshan Mountain, the surface texture of lakes and Hetao areas in Qinghai-Tibet Plateau, convective clouds in Northeast China and North China, and vortex clouds in high latitudes in the northern and southern hemispheres are clearly visible. On the panchromatic image products with a resolution of 1 minute and 250 meters and the image and animation products with a resolution of 500 meters, the fine structure and development process of convective clouds can be seen at a glance. It is worth mentioning that this product generation uses machine learning technology to realize true color atmospheric correction.

　　Carrying the world’s first

　　Day and night high frequency secondary imaging instrument

　　The fast imager carried by the satellite is the world’s first day-and-night high-frequency imaging instrument, which can provide one-minute interval multi-spectral continuous observation in an area of 2,000 km× 2,000 km, making the monitoring of typhoons, rainstorms and mesoscale disastrous weather more flexible and precise. The advanced geostationary orbit radiation imager adds the function of low-level water vapor imaging, which enhances the quantitative observation ability of the surface and clouds. The geostationary orbit radiation imager and the fast imager cooperate with each other, which not only ensures the multi-spectral effect required by geostationary orbit atmospheric remote sensing, but also has the observation ability of high temporal and spatial resolution.

　　Tang Shihao, chief designer of Fengyun Meteorological Satellite Engineering Application System, said that Fengyun-4 B-star made it possible for people to clearly see the minute-level change process with the naked eye for the first time, and also realized the wish of "seeing where there is a disaster quickly". In addition, the variety of B-star products has increased significantly, which can provide observation support for meteorological forecasting, disaster prevention and mitigation, response to climate change, and ecological civilization construction, especially for monitoring and early warning of major disasters such as typhoons, floods and droughts.

　　Data daily service capacity

　　Increase by 50%

　　Lu Feng, chief designer of the optical satellite ground system of Fengyun-4 geostationary meteorological satellite, said that in order to ensure the long-term stability of satellite observation and data, the service life of Fengyun-4 B star is 7 years. The ground application system will build a brand-new core business system to give full play to satellite benefits. The daily data processing capacity of Fengyun-4 B star is about 1.2 times that of Fengyun-4 A star, and the daily data service capacity is improved by 50%.

　　In the next step, Fengyun-4 B star will conduct a one-year on-orbit test, test and apply, and release products in batches. Fengyun-4 star B will also form a networking advantage with star A, and will be strong in key areas and important weather process monitoring to provide more abundant observation products. According to CCTV News and China Weather Network,

　　Quick and accurate reality

　　Fengyun no.4 b star

　　Three characteristics to upgrade meteorological service

　　After the launch, Fengyun-4 B star was fixed at 123.5 degrees east longitude, and joined hands with Fengyun-4 A star. The observation range reached the Indian Ocean in the west and crossed the international date line of the Pacific Ocean in the east, which not only completely covered China’s territory, but also covered a wider area such as the Northwest Pacific Ocean and Oceania, enabling China’s second-generation geostationary meteorological satellite to realize the business model of two-star operation and east-west layout.

　　Fengyun-4 B-star service will be upgraded on the basis of A-star, and a high-speed, reliable, all-weather and all-weather data processing, transmission and distribution system will be built to ensure the meteorological service of meteorological data end users and serve the national economy and people’s livelihood.

　　Fast: every second will ensure efficiency.

　　As a geostationary meteorological satellite, obtaining high time resolution observation data is the primary task of Fengyun-4 B satellite, and data processing, transmission and distribution are irreplaceable links. Therefore, as the overall unit of the satellite, 509 Institute of the Eighth Academy of Aerospace Science and Technology Group, together with users and contractors, has built a high-speed data processing, transmission and distribution system between the satellite and the ground. Using the satellite-ground high-speed data system, the B-satellite remote sensing load is sent to the earth data transmission subsystem for data processing while acquiring remote sensing data, and then transmitted to the ground station for data processing through the satellite-ground high-speed data transmission channel.

　　After being processed by the ground station, the generated meteorological products will be quickly distributed to the fixed meteorological stations at all levels in provinces, cities and counties and the vehicle-borne and ship-borne mobile receiving terminals in the satellite coverage area through the high-speed information forwarding channel and the low-speed information forwarding channel of the satellite-to-ground forwarding system. Using the satellite-ground high-speed data system, it takes only a few minutes to obtain remote sensing data from remote sensing load to reach the end users, and it can provide high-frequency meteorological data for ships in China and its surrounding areas and sea areas.

　　Accurate: data "express" to ensure quality

　　Meteorological satellites are called "the first line of defense for disaster prevention and mitigation" by the industry because the remote sensing data detected by satellites are the first-hand data for monitoring and predicting the development and trend of severe weather. Therefore, satellite remote sensing data when bad weather occurs is particularly important.

　　By adopting a number of technologies, Fengyun-4 B-star ensures that data transmission is not afraid of typhoons and rainstorms, and can be stably and reliably transmitted to ground stations, assisting meteorological units to make accurate weather forecasts and reducing the losses that bad weather may bring to national lives and property.

　　Reality: self-upgrading to protect people’s livelihood

　　In order to further improve the application efficiency of B-star as the first operational satellite of Fengyun-4 series, this time, the research team carried out a "self-upgrade" of the satellite-ground data transmission and distribution system, which really made users experience convenience and speed.

　　In order to further bring special vehicles, small and medium-sized ships and other mobile platforms into the service group of low-speed information forwarding channel, the output power of the downlink power amplifier of Fengyun-4 B-star low-speed information forwarding channel is doubled, and the antenna diameter of the ground receiving terminal is reduced by 0.3 times, which solves the problem that it is difficult to install receiving equipment on mobile platforms such as vehicles and small and medium-sized ships.

　　At the same time, in order to adapt to the application scenarios where the moving direction of mobile terminals such as vehicles and ships changes in real time, and improve the experience of data forwarding service, the research team changed the polarization direction of downlink microwave signals in the high-speed information forwarding channel and the low-speed information forwarding channel of the satellite-to-ground forwarding system from horizontal vertical double-line polarization to left-right rotation double-circle polarization, thus solving the problems of polarization isolation reduction and data reception error or interruption caused by the direction change of the receiving platform.

　　Fengyun-4 B-Star has also added a high-speed Ka-band high-speed original remote sensing data transmission channel, which supports the real-time transmission of high-speed remote sensing data to the ground when a typhoon or local disastrous weather area occurs, thus improving China’s emergency capabilities such as forecasting and monitoring disastrous weather and reducing the loss of life and property of the people of the country.

　　Xinhua News Agency reporter Hu Zhe Huang Wei

　　Xinhua News Agency, Shanghai, May 6 thTitle: Venture loan, training loan, job-seeking loan … … Under the ban, campus loans are still rampant!

　　Xinhua News Agency "Xinhua Viewpoint" reporters Wang Shujuan and Yan Zhihong

　　As early as May 2017, several departments, including the former China Banking Regulatory Commission, issued the "Notice on Further Strengthening the Standardized Management of Campus Loans", clearly requiring that all online lending institutions be suspended from conducting online lending business for college students. However, a recent survey by Xinhua Viewpoint reporter found that there are still many online lending institutions that ignore the regulations, put on entrepreneurial loans, graduation loans, training loans, job-seeking loans and other coats, and continue to lend to college students.

　　The online lending platform still illegally lends money to college students.

　　The reporter’s recent investigation found that in order to avoid the investigation by the regulatory authorities, the marketing methods of some online lending platforms are more subtle, and some continue to lend illegally to college students under the banner of graduation loans and job-seeking loans.

　　Many online lending platforms promote their business through QQ group. The reporter’s search found that some salesmen claimed in the group that they could apply for loans for college students, and said that they "ignored debts, didn’t look at credit information, didn’t audit electricity, didn’t video, didn’t write IOUs, and came to the next one".

　　Huang Peng, a college student, has borrowed money on platforms such as "Spend 100 million yuan first", "Staging Music" and "Flash Silver". He told reporters that although campus loans are forbidden, many people who claimed to help "settle accounts ashore" promoted them on Zhihu, Weibo and WeChat, saying that they could help to borrow new loans and repay old ones, which attracted many students with loans.

　　Some campus loans are covered with "vests", such as leaseback loans, entrepreneurial loans, job-seeking loans, etc. The reporter saw on the post bar that an "ID loan" called "Meow Renting Back" was advertised as a professional mobile phone lending platform, with quick review and quick receipt.

　　A college student told reporters that leaseback loan is actually a kind of campus loan, also called "ID loan". The specific operation is to "lease" the mobile phone to the loan platform and bind the specified Apple ID account. The platform is valued at 3,000 yuan, and 2100 yuan is received after deducting the rental fee or appraisal fee of 900 yuan. In fact, the mobile phone is still used by me, and the platform gives college students loans with high beheading interest in the name of leasing. If you don’t repay the loan on time, you will threaten the borrower by reading the mobile phone address book, mobile phone positioning and other functions.

　　Other platforms ignore the regulations and deliberately lend money to college students without reviewing their identities, and they are all "beheading loans". Yang Xin, a college student in Chongqing, is caught in the vicious circle of "supporting loans with loans". She borrowed money from dozens of platforms, such as Little Ant Wallet, Easy Week Wallet, Quick Loan Wallet and Spend 100 million yuan first. The most recent one was to borrow 3,000 yuan from Easy Week Wallet in early March, which was due in seven days, but only 2,100 yuan actually arrived, with an annualized loan interest rate as high as 15.64% and an overdue fee of one day in 150 yuan. The reporter saw that this 3,000 yuan loan has rolled into more than 7,000 yuan in one month.

　　Liu Xing, a 20-year-old sophomore, recently borrowed 2,000 yuan from the "hairtail" online loan, but only 1,600 yuan actually arrived, which is equivalent to an annualized loan interest rate of over 1,000%. After 7 days, due to the inability to repay, the collection company has been harassing his parents.

　　Some platform identity audits exist in name only.

　　"In fact, according to the age of the ID card, you can roughly judge your identity. If you really don’t want to make a group loan for college students, strictly setting the audit threshold of 25 years old or older can basically be screened out." A person in charge of a cash loan platform told reporters.

　　Many college students told reporters that most platforms indicate that they can borrow money only if they are over 18 years old, but they don’t screen their specific identities. They can pass the audit by checking the "not a student" option. "Although some platforms indicate that they will not lend money to students, they will never ask you if you are a student when you borrow money. You can borrow money with your ID card." Yang Xin said.

　　Huang Peng told reporters that in many platform loans, when filling in the information, just fill in a company near the school, upload an ID card, authenticate the mobile phone operator, and record an authentication video to borrow money.

　　"Staging Music" is known as a staged shopping mall for young people, and its App has a loan service of "Lehua Borrowing Money" in a prominent position. To apply for a loan, you need to register and fill in your personal data, and you have the options of "worked" and "not worked". If you choose "not worked", you need to fill in your school and admission time.

　　Liu Xing, a college student, showed the reporter his personal information on "Staging Music" and clearly filled in the school he was attending and the time of admission. However, on March 26th, he still successfully borrowed money from the staging music platform, having been in debt of tens of thousands of yuan on several online lending platforms.

　　As a college student, the reporter called "Staging Music" to ask for a loan. The customer service told me that you can apply for a loan as long as you are 18 years old, regardless of whether you are a student or not. The platform provides technical and preliminary examination services, and the final lender is a cooperative financial institution.

　　The reporter saw that there were many complaints about "staged music" lending to college students on "Gathering Complaints". A Mr. Xiong spoke out: "‘ Staging music ’ Doing promotion and advertising all over the campus, in the classroom and on the table ‘ Staging music ’ Small card. " Parent Ms. Liu said: "‘ Staging music ’ Deliberately trick students who do not have a stable source of income into super-power consumption and borrowing loans, and make phone and SMS bombing threats when students have no repayment ability, thus kidnapping parents to repay. "

　　We will implement the regulations on punishing campus loans and increase formal financial services for college students.

　　A person engaged in cash loan business told reporters that in fact, the platform is well aware of the illegal lending to college students. They just believe that the parents of college students will repay their children, so even if students have no source of income, they should continue to do so.

　　This person told reporters that recently, the relevant departments have closely checked the "714 anti-aircraft gun" platform with a loan period of 7 days or 14 days and charged high beheading interest and interest, so many platforms have been changed into 30 days and 56 days, or the App has been upgraded into a shopping mall and a loan supermarket.

　　Many people in the industry said that we should cooperate with various regulatory bodies and relevant departments to implement the regulations on punishing campus loans, ban unlicensed lending platforms, and especially crack down on those platforms with legal licenses to lend illegally to college students. The online lending platform should also take the responsibility of verification and strictly abide by relevant regulations.

　　Experts suggest that it is necessary to unblock the combination and let formal financial institutions provide formal financial services for college students. Zheng Li, member of Chinese People’s Political Consultative Conference and vice president of xihua university, has been tracking and investigating the problem of campus loans for many years. The feedback data he obtained from China Banking and Insurance Regulatory Commission shows that by the end of March 2018, 12 banks across the country had launched student credit card business, with a total of 4.01 million student credit cards issued, with a loan balance of 400 million yuan. In the next step, formal financial institutions should be encouraged to increase financial services for college students on the premise of risk control.

　　Fu Weigang, a researcher at Shanghai Institute of Finance and Law, suggested that relevant departments can explore cooperation with Internet finance technology companies to establish a risk control model for students in school, so as to make technical preparations for regulating the campus loan market.

The cold wave hits the bone, and the flu season increases the sorrow. Just after a holiday, I don’t know if everyone is well.

According to the report of influenza-like cases in the 52nd week of 2023 released by the Chinese Center for Disease Control and Prevention on January 4th, the percentage of influenza-like cases reported by sentinel hospitals in southern provinces was 9.6%, which was higher than the previous week’s level (8.8%) and the same period in 2020-2022 (3.6%, 4.0% and 8.4%), and influenza viruses were mainly subtype A (H3N2).

On December 24th, at the press conference held in National Health Commission, Peng Zhibin, director of the Department of Respiratory Infectious Diseases of the Infectious Diseases Management Office of China CDC, said that personal protection was recommended for the elderly, pregnant women, children and patients with serious chronic basic diseases aged 65 and above.

So what should the elderly do in the face of flu season? Come and have a look with me.

First of all, we need to know what the flu is.

Influenza is an acute respiratory infectious disease caused by influenza virus.

Influenza viruses are divided into three types: A, B and C, and the main ones that can cause outbreaks are A and B, among which influenza A is mainly subtype A 1 (H1N1) and A 3 (H3N2).

Often referred to as influenza A virus. There are often symptoms such as sore throat, cough, stuffy nose, runny nose, vomiting, diarrhea, etc., which is difficult to differentiate from the symptoms of respiratory tract infection caused by other pathogens. Vaccination of influenza vaccine in advance is the most economical, effective and important measure to prevent influenza.

Secondly, why are the elderly more likely to get the flu?

The joint research team from the University of Michigan and Temple University found some clues-as people get older, a lipid that controls inflammation will gradually weaken the immune defense ability of the lungs, which will lead to the damage of alveolar macrophage, the first line of defense of the lungs, with age. Macrophages are immune cells, which are distributed in pulmonary alveoli or alveoli. Their main function is to attack external "invaders" such as influenza A virus (IAV).

In addition, the lung compliance of the elderly is decreased, the respiratory muscle strength is weakened, and the cough reflex is also weakened. If there are factors such as coexistence of multiple diseases and malnutrition, it will easily lead to influenza infection in the elderly.

According to the latest "Technical Guidelines for Influenza Vaccination in China (2023-2024)", the elderly aged 60 and above are also classified as key and high-risk groups.

So, what kinds of influenza vaccines can be vaccinated for the elderly?

Currently, influenza vaccines on the market include trivalent influenza vaccine and tetravalent influenza vaccine.

The so-called trivalent influenza vaccine means that it can prevent the infection of three types of influenza viruses, including influenza A H1N1, influenza A H3N2 and influenza B Victoria strains.

The tetravalent influenza vaccine can prevent four types of influenza virus infection, including influenza A (H1N1), influenza A (H3N2), influenza B (Victoria) and influenza B (Yamagata). In view of the epidemic of influenza A (H3N2) this year, vaccination with trivalent influenza vaccine or tetravalent influenza vaccine can effectively prevent it.

Finally, what is the preventive effect of influenza vaccine on the elderly?

Usually after 2-4 weeks of influenza vaccination, antibodies with protective level can be produced. The protective effect can last for 6-8 months, and then the antibody begins to decay.

Special reminder

In daily life, the elderly should frequently open windows for ventilation, strengthen air circulation, exercise regularly and maintain a good lifestyle. In the flu season, try to avoid going to closed places where people gather.

Xiaobian also specially sorted out the vaccination information of the vaccination clinic in Jinshan District. If necessary, you can go to the vaccination according to the vaccination information.

Compile | manage you

Image | network intrusion and deletion

Original title: China CDC: It is recommended to vaccinate against influenza as soon as possible, especially for the elderly.

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