CCTV News:Road traffic safety cannot be ignored for a moment. Recently, another scene of shock occurred in Baoding, Hebei Province.

　　A mother riding an electric bicycle, carrying her two children, ran a red light across the road and was knocked down by a car coming sideways. A boy was directly involved in the bottom of the car.

　　At about 3: 28 pm on the day of the incident, at the T-junction of the traffic lights in Chen Zhuang, Wangdu County, a woman with two children was driving an electric bicycle from north to south. At this time, the traffic lights in the north-south direction were red. The woman did not stop and wait, but did not hesitate to pass the red light; At the same time, the signal light from west to east turned green. After the signal light turned yellow and the light flashed, a white car turned left and accelerated through the intersection, just colliding with the electric bicycle, knocking it down and rolling a boy in the car under the car. After the accident, the driver of the car immediately stopped to save people and reported to the police.

　　Bai Qiumei, Hebei Baoding Traffic Police Detachment:There were three people riding the electric bicycle, mother and son, all of whom were injured to varying degrees. The boy in the back seat couldn’t afford to fall to the ground and was seriously injured. The vehicles of both sides of the accident were damaged.

　　The ambulance arrived at the scene five minutes after the accident.

　　In order to verify the situation, Wangdu traffic police retrieved the video footage of the incident. Through the video, it was found that women riding electric bicycles ran red lights, while white cars with left turns grabbed the lights and met non-motorized cyclists, which was the cause of the accident.

　　Bai Qiumei, Hebei Baoding Traffic Police Detachment:The driver of the electric (self-propelled) car, Wang Mou, and the driver of the car, Wang Moumou, should bear the same responsibility for this accident, and the passenger is not responsible.

　　On November 16th, the 6th World Sichuan Cuisine Conference officially opened in Guang ‘an, Sichuan. The conference released the Report on High-quality Development of Sichuan Cuisine Industry (2023). According to the report, by the first half of 2023, the number of stores in Sichuan cuisine had exceeded 320,000, far exceeding the number of stores in Guangdong cuisine, Jiangsu cuisine and other cuisines, and it was truly the largest cuisine in China. Spicy, spicy, green pepper and other flavors became consumers’ favorite flavors of Sichuan cuisine, which provided flavor guidance for the research and development of innovative dishes in Sichuan cuisine. It turned out that Sichuan cuisine was not just spicy. It is worth mentioning that in 2021, the Michelin list officially landed in Chengdu, becoming the fourth Michelin city after Shanghai, Beijing and Guangzhou. Do you like Sichuan food?

　　Introduction of eight Chinese cuisines;

　　The eight recognized cuisines in China are Sichuan cuisine, Guangdong cuisine, Shandong cuisine, Jiangsu cuisine, Zhejiang cuisine, Anhui cuisine, Hunan cuisine and Fujian cuisine.

　　The eight major cuisines are permeated with the Confucian spiritual pursuit of "never tire of delicacy and delicacy". After hundreds of years of inheriting ancient methods and innovation, the cooking techniques are rich and the dishes taste mellow, which has laid a good foundation for Chinese food to be fine, moderate, delicious, beautiful and healthy.

　　The characteristics of the eight major cuisines:

　　Sichuan cuisine is spicy and delicious, with heavy oil and heavy taste;

　　Cantonese cuisine is rich in color, smooth but not greasy;

　　Shandong cuisine is fresh and tender, and the soup is thick and mellow;

　　Su cuisine is fresh, crisp and rotten, with a sweet taste;

　　Zhejiang cuisine is delicious, crisp and tender, and the food is as beautiful as its scenery;

　　Anhui cuisine is simple in material selection and mellow in taste;

　　Hunan cuisine is widely used, fragrant, fresh and sour;

　　Fujian cuisine is mainly seafood, sweet, sour and salty.

one

Sichuan cuisine

Characteristics of Sichuan cuisine: spicy and delicious, famous for its rich, wide, thick and strong flavor. Enjoy the reputation of "one dish, one grid, one hundred dishes and one hundred flavors".

Representative dishes: kung pao chicken, shredded pork with fish flavor, boiled fish, pork slices for couples, etc.

　　1, kung pao chicken, with chicken as the main ingredient, supplemented by peanuts, peppers and other accessories, tastes red but not spicy, spicy but not fierce, and the meat is smooth, with crispy peanuts, which makes people drool. Legend has it that this dish was handed down from Shandong in the Qing Dynasty, and it originated from the "Fried Chicken with Sauce" in Shandong cuisine.

　　2. Fish-flavored shredded pork. This dish is made of shredded pork tenderloin fried with pickled peppers, ginger, garlic, sugar and vinegar. It is salty, fresh, sweet and sour, and the onion, ginger and garlic are rich.

　　3, boiled fish, usually made of fresh grass carp, bean sprouts, peppers and other ingredients. It is characterized by "oily but not greasy, spicy but not dry, hemp but not bitter, and tender meat".

　　4. Husband-and-wife lung slices are marinated with cow scalp, beef heart, beef tongue, tripe and beef as the main materials, then sliced, made with auxiliary materials such as Chili oil and pepper noodles, and poured with red oil. The taste is spicy and spicy.

2

Cantonese cuisine

Characteristics of Cantonese cuisine: the color is slippery but not greasy, and it pays attention to frying, frying, stewing, stewing, etc. The taste characteristics are cool, light, crisp and fresh.

Representative dishes: roast suckling pig, sweet and sour sweet and sour pork, lobster baked in soup and sweet and sour melon cups.

　　1. Roasted suckling pig: It is characterized by crispy skin, tender meat and crisp bones, and it melts in the mouth, which is one of the Guangdong roast flavors.

　　2, sweet and sour meat: golden color, crisp outside and soft inside, crispy skin and tender meat, sweet and sour taste. Enjoy a high reputation at home and abroad.

　　3. Baked lobster in soup: a seafood dish with lobster as the main ingredient and broth, especially suitable for nourishing.

　　4. Eight-treasure winter melon cup: Dice lean pork, chicken, ham, prawns, mushrooms, magnolia and scallops, add refined salt, monosodium glutamate, cooked lard and appropriate amount of water, and steam with high fire. This dish is clear and white in color, fresh and soft in wax gourd meat, and fragrant in flavor. It is a delicious seasonal delicacy.

three

Shandong cuisine

Characteristics of Shandong cuisine: strong and fresh flavor, preference for onion and garlic seasoning, especially for cooking seafood, various animal offal and soup.

Representative dishes: Jiuzhuan large intestine, stir-fried kidney flower, sweet and sour carp, fried sea cucumber with onion, fried clam with oil, stewed mullet egg soup, etc.

　　1. Jiuzhuan large intestine is a representative dish of Shandong cuisine and a traditional famous dish in Jinan City, Shandong Province. It was initiated by the owner of Jiuhualin Restaurant in Jinan in the early years of Guangxu in Qing Dynasty. It was originally called "Braised Large Intestine" and later renamed "Jiuzhuan Large Intestine". This dish is ruddy in color, soft and tender in texture, and has five flavors of sour, sweet, fragrant, spicy and salty. It was rated as "Chinese food" and one of the top ten classic dishes in Shandong.

　　2, stir-fried kidney flower, a classic dish in Shandong cuisine. The heat mastered when stir-frying kidney flowers is sweet and sour, which is the chef’s competition skill. This dish tastes particularly tender, and its lips and teeth are fragrant. It feels like slipping into the throat when eaten in the mouth, which is particularly refreshing.

　　3. Sweet and sour carp, the most representative dish of Shandong cuisine. The shape fried by carp is like carp yue longmen, which is very beautiful. After the fish body is poured with juice, it looks particularly red and bright, and its taste is crisp, sweet and sour, which has been recognized by many people.

　　4. Scallion-roasted sea cucumber is mainly made of water-soaked sea cucumber and green onion. The sea cucumber tastes soft and smooth, and the green onion is a specialty of Zhangqiu, and it tastes sweet. Sea cucumber is a kind of eight treasures, and it is also a very nutritious food, which has the functions of improving memory and preventing arteriosclerosis. So this dish is a delicious and healthy famous dish.

four

Jiangsu cuisine

Characteristics of Jiangsu cuisine: fresh, crisp and rotten, with a sweet taste. Cooking skills are famous for stewing, stewing and stewing, and attention is paid to mixing soup and keeping the original juice.

Representative dishes: Squirrel mandarin fish, duck blood vermicelli soup, Qingong meatballs, Nanjing salted duck, etc.

　　1. Squirrel mandarin fish (Sweet and Sour Mandarin Fish) is a traditional local dish in Suzhou City, Jiangsu Province. When the fried mandarin fish (or mandarin fish) is served on the table, it is immediately poured with steaming marinade, and it squeaks, hence its name because it sounds like a squirrel. Emperor Qianlong once tasted this dish. This dish is characterized by crispy outside and tender inside, orange color, sweet and sour taste and pine red fragrance.

　　2. Duck blood vermicelli soup is a traditional dish in Nanjing and an important representative dish in Jinling cuisine. Duck blood vermicelli soup is made of duck blood, duck intestines, duck liver, etc., and duck soup and vermicelli are added. It is popular all over the country because of its mild taste, fresh fragrance and smoothness, as well as the taste characteristics suitable for both north and south.

　　3. Qingong meatball is a traditional Huaiyang dish. It was once a famous tribute in the Qing Dynasty, so it is also called "Qinggong meatball". It has been made for hundreds of years and is one of the top ten famous dishes in Jiangsu Province. It is characterized by smoothness, tenderness, elasticity, white soup and delicious taste. There is a saying that "falling on the ground and jumping a few times will make your mouth tender and fragrant". Eating meatballs often also has dietotherapy effects such as fitness and beauty, tonifying the middle energizer and benefiting qi, and improving immunity.

　　4. Nanjing salted duck is a famous specialty in Nanjing and one of the important representatives of Jinling cuisine. Nanjing salted duck has a long history of making, and the salted duck skin produced is tender, fat but not greasy, delicious, fragrant, crisp and tender. In the season when osmanthus is in full bloom around Mid-Autumn Festival, the salted duck is the best in color and taste, so it is also called osmanthus duck.

five

Zhejiang cuisine

Characteristics of Zhejiang cuisine: fresh and tender, soft and smooth, mellow and glutinous, refreshing and not greasy.

Representative dishes: West Lake vinegar fish, Dongpo meat, Longjing shrimp, steamed meat with lotus leaf powder, etc.

　　1. West Lake vinegar fish, alias uncle and sister-in-law Chuanzhen, is one of the top ten classic dishes in Zhejiang and four famous dishes in Hangzhou, belonging to hangzhou dishes. The vinegar fish in the West Lake began in the Southern Song Dynasty. According to legend, Zhao Gou, Emperor Gaozong, visited the West Lake by dragon boat, tasted its fish and praised it. Later, he was regarded as the "grandmaster" of the fish. This dish is bright red in color, tender and delicious with crab flavor, sweet and sour, and unique.

　　2. Dongpo Meat, a famous dish in Hangzhou, is a return meat from Xuzhou, which is one of the "four treasures of Dongpo" in Xuzhou. According to legend, it was created by Su Dongpo. Dongpo meat is a dish with bright red color, half fat and half thin meat, fat but not greasy, and sweet and salty flavor at the entrance.

　　3. Shrimp with Longjing, a famous traditional dish in Hangzhou, Zhejiang. This dish is fresh and soft, the shrimps are white and tender, the buds and leaves are fragrant, and the color is splendid. There is tea fragrance in the shrimp, and there is shrimp fresh in the tea, which has endless aftertaste. Longjing shrimp was rated as one of the top ten classic dishes in Zhejiang Province.

　　4. Steamed pork with lotus leaf powder is a special traditional dish in Jiaxing City, Zhejiang Province, which belongs to Zhejiang cuisine. In the late Qing Dynasty, it was said that its name was related to the "Wind and Lotus in Quyuan" of the "Ten Scenes of West Lake". It is made of fresh lotus leaves from Hangzhou, fried rice flour and seasoned pork wrapped and steamed. The characteristics of steamed meat with lotus leaf powder, lotus leaf can cool blood and detoxify, the meat is crisp and rotten, the rice flour is soft and glutinous, and the meat is fragrant and fat but not greasy.

six

Hunan cuisine

Hunan cuisine is characterized by strong oil color, spicy, delicious and soft; The method of making is known as stewing, stewing, waxing, steaming and frying.

Representative famous dishes: fish head with chopped pepper, western Hunan Waipo, Jishou sour meat, Yongzhou blood duck, etc.

　　1. Chopped pepper fish head, mainly made of bighead carp fish head and chopped pepper, and steamed with soy sauce, ginger, onion, garlic and other accessories. The dishes are bright red in color, rich in flavor and tender in meat. Fat but not greasy, soft and waxy, fresh and spicy.

　　2. Pickled dried prunes (potherb mustard), dried radishes, Jiangdou Gan, shredded cabbage, etc. are used as the potherb in western Hunan, and white pepper (pepper), ginger, red dried pepper, vegetable oil, salt, garlic, chives, etc. are added and stir-fried to serve.

　　Features: spicy and delicious, bibimbap is excellent, delicious and appetizing.

　　3. Jishou sour meat is a dish made of fat pork. Materials include fat pork, refined salt, pepper powder, corn flour, dried red pepper, green garlic, peanut oil, vinegar and so on.

　　Characteristics, yellow and spicy, slightly sour, fat but not greasy, unique flavor.

　　4, Yongzhou blood duck, choose 2-3 kg of live duck, kill the duck blood for later use, and cut the duck into pieces. Add peanut oil in an iron pan. When the oil temperature is seven minutes hot, pour the chopped ginger, onion, garlic and dried red pepper into the wok and stir-fry until fragrant. Add eggplant pieces and coriander, then add duck pieces and stir-fry, and then add soup to stew. Collect juice, pour duck blood on it, stir fry, add cooking wine and pepper, pour sesame oil out of the pot.

　　Features: This dish is bright in brown and black, red in black, spicy, fresh and tender, with heavy oil, salty and palatable, and is suitable with wine and meals.

seven

Anhui cuisine

Characteristics of Anhui cuisine: simple selection of materials and mellow taste. With ham as seasoning, crystal sugar is fresh, good at stewing and paying attention to pyrotechnics.

Representative dishes: Huizhou Stinkfish, Gourd Duck, Huangshan Fang La Fish and Huizhou Yipin Pot.

　　1. Huizhou Stinkfish is a traditional dish in Huizhou. This "flavored mandarin fish" smells smelly, tastes fragrant, and the meat is tender, mellow and refreshing, keeping the original flavor of mandarin fish. Its production process is very particular, that is, fresh mandarin fish is marinated in a wooden barrel with light salt water at room temperature of about 25℃, and the fish body will give off a smelly smell. Then fry in oil pan, add pork slices and bamboo shoots, and braise in soy sauce over low heat until the soup is concentrated.

　　2, gourd duck, belonging to Huaiyang cuisine, is a traditional Suzhou dish with a long history. Its dish is shaped like a gourd, the duck meat is soft and boneless, fat but not greasy, the stuffing is loose and waxy, and the taste is fresh, salty and mellow, which is very suitable for the elderly and children.

　　3. Huangshan Fang La Fish is one of the traditional famous dishes of Anhui cuisine. Fang La, the leader of the Northern Song Rebel Army, used raw fish and shrimp to repel enemy soldiers. The locals created this dish in memory of him. This dish is mainly made of mandarin fish and shrimp, and is made by different cooking methods such as frying, sliding and steaming. It tastes salty and delicious, with sweetness in acid.

　　4. Huizhou Yipin Pot is a special hot pot food that is often eaten in Huizhou in winter. Its ingredients are very rich, including shark’s fin, abalone, hen, etc. It tastes very delicious, with good color, fragrance and taste.

eight

Fujian cuisine

Characteristics of Fujian cuisine: seafood is the main raw material, paying attention to sweet, sour, salty and fragrant, and the color is delicious and fresh.

Representative dishes: Buddha jumping wall, shredded chicken bird’s nest, emerald pearl abalone and litchi meat.

　　1. Buddha jumps over the wall, which is a famous dish among the top ten representative dishes of Fujian cuisine, so it will be served at many banquets, especially state banquets. Its ingredients are relatively expensive, such as abalone, shark’s fin and sea cucumber, but they are really delicious.

　　2, shredded chicken bird’s nest, which belongs to a relatively high-standard dish, tastes light, but it tastes particularly delicious, and it is also particularly nutritious, which is very suitable for pregnant women and the elderly.

　　3. Emerald Pearl abalone is a traditional dish in Fuzhou. With abalone and scallops as the main ingredients, it is made by seiko. Because it is shaped like jade, it is named jade pearl abalone. This dish is rich in nutrition, beautiful in shape, delicious in taste and expensive in materials, so it is naturally the top grade of the banquet.

　　4. Litchi meat is one of the traditional famous dishes in Fuzhou and one of the five representative dishes of Fujian cuisine. It has a history of more than 200 years. Litchi meat is named after its tender and smooth taste, sweet and sour taste, and its shape, color and taste are all like litchi.

　　CCTV News:From June to August, 2016, a telecom fraud gang committed fraud crazily. During this period, Cai Shuyan, a college student, committed suicide by jumping into the sea after being defrauded of tuition and living expenses of 9800 yuan. On the morning of 28th, the Intermediate People’s Court of Jieyang City, Guangdong Province sentenced seven defendants, including Chen Minghui, to life imprisonment and three years’ imprisonment.

　　The court found through trial that from August 2013 to March 2014, Chen Minghui repeatedly hired Tang Xiaohui (sentenced) to pretend to be a variety show such as "Where is Dad?" and sent more than 730,000 false winning fraud messages to mobile phone users.

　　From June to August, 2016, Chen Minghui recruited and assembled Fan Zhijie, Gao Xuezhong, Ye Qifeng, Xiong Yunjiang and others to form a criminal gang. By sending false winning information such as "Taobao" and "Run Brothers", he induced the winners who received the information to log in to the "phishing website" to fill in their personal information to receive the prize, and pretended to be a customer service staff to trick the winners into paying the "deposit" on the grounds of redemption. Pretending to be court staff and lawyers, it is a breach of contract that the "winner" fails to pay the "security deposit" or receive the prize as required. It is necessary to sue or have sued the "winner" and continue to pay the handling fee before withdrawing the lawsuit and obtaining the prize, threatening and luring, and defrauding the "winner" again, defrauding many people of property totaling RMB 1.041 million. Among them, Cai Shuyan, a student about to attend university, committed suicide by jumping into the sea after being defrauded of tuition and living expenses of 9800 yuan.

　　The court also found that Lin Shiya knowingly engaged in illegal and criminal activities by Ye Qifeng and others, and still illegally entrusted him with point-of-sale terminal equipment (POS machines), which provided convenient conditions for him to cash in the stolen money. Knowing that others are engaged in illegal and criminal activities, Chen Liyi still sells several bank cards to others for fraud. In addition, Xiong Yunjiang was caught by the traffic police for drunk driving in Haikou.

　　The court held that in the joint crime of fraud, Chen Minghui, Fan Zhijie, Gao Xuezhong, Ye Qifeng and Xiong Yunjiang, for the purpose of illegal possession, formed a telecom fraud criminal gang, used communication tools and online means to defraud an unspecified majority of people, and caused a student to commit suicide. The amount of fraud was particularly huge and the circumstances were particularly serious, all of which constituted fraud. Xiong Yunjiang also drunk driving a motor vehicle on the road, and his behavior constitutes a crime of dangerous driving, which should be combined with several crimes according to law. Knowing that others commit crimes, Lin Shiya has repeatedly provided point-of-sale terminal equipment (POS machines) to help transfer the proceeds of crimes. Knowing that others commit crimes, Chen Liyi still provides multiple bank accounts for others to transfer the proceeds of crimes, which has constituted the crime of concealing and concealing. According to the facts, nature, circumstances and the degree of harm to society of each defendant, the Intermediate People’s Court of Jieyang City, Guangdong Province sentenced the defendant Chen Minghui to life imprisonment, deprived of political rights for life and confiscated all personal property. The defendants Fan Zhijie, Gao Xuezhong and Ye Qifeng were sentenced to fixed-term imprisonment ranging from 15 to 13 years and fined for fraud; The defendant Xiong Yunjiang was sentenced to 11 years in prison and fined for fraud and dangerous driving. The defendant Lin Shiya was sentenced to three years’ imprisonment and the defendant Chen Lucy li was sentenced to one year and four months’ imprisonment and fined for concealing and concealing the crime. The defendants were ordered to jointly refund the fraudulent money to the victim.

On December 30, 2020, Beijing Institute of Biological Products Co., Ltd. quietly published a short announcement in official website. According to the interim analysis results of Covid-19 inactivated vaccine phase III clinical trial, the safety of Covid-19 inactivated vaccine of China Bio-Beijing Company of Sinopharm Group was good after inoculation.After two doses of immunization, the positive conversion rate of neutralizing antibody was 99.2%, and the protective power of vaccine against diseases caused by COVID-19 infection (Covid-19) was 79.34%.

Prior to this, Pfizer and Moderna from the United States also released the research results of phase III clinical trials of their own mRNA vaccines, and the protective power was over 90%. In this way, our vaccines seem to have a little poor protective effect. But be careful,This is not because our technology is not good, but more because of the congenital difference between mRNA vaccine and inactivated vaccine.

Immune protection induced by inactivated vaccine is relatively weak.

Inactivated vaccine is a vaccine made by inactivating virus by physical or chemical methods. Compared with live virus particles, the immunogenicity of inactivated virus is relatively weak, and adjuvant is often needed.

In 2013, a study entitled "Characterization of immune responses induced by activated, live attended and DNA vacuums against Japanese encephalitis virus in mice" was confirmed by Japanese encephalitis virus.Compared with artificial attenuated live vaccine and DNA vaccine, the immune response induced by inactivated vaccine is relatively weak.

Figure 1. Heading of the article

The researchers divided the mice into four groups, injected with inactivated vaccine (INV), live attenuated vaccine (LAV), DNA vaccine (pCAG-JME) and control, and then detected the antibody level in mice. At the end of the experiment, the total antibody titer induced by inactivated vaccine was significantly lower than that of attenuated live vaccine group and DNA vaccine group.

Fig. 2 Antibody level pairs induced by three vaccines

The researchers also detected the levels of different subtypes of IgG induced in the serum of mice, and found that there were differences among the three vaccines. The inactivated vaccine mainly induced IgG type 1 antibody, while the attenuated live vaccine mainly induced IgG type 2a antibody, and the antibody levels of DNA vaccine were both high.

Fig. 3 Different IgG subtypes induced by three vaccines

The researchers also compared the levels of cytokines induced by vaccine and the levels of dendritic cells and Treg in detail, and there were some differences. Anyway,There are some differences in immune response induced by inactivated vaccine, attenuated live vaccine and nucleic acid vaccine. It is not surprising that the protective effect of inactivated vaccine is not as good as that of RNA vaccine.

Inactivated vaccine has the best safety.

Because the clinical data of phase III vaccine of Beijing Institute of Biological Products have not been published in any authoritative journals,Therefore, the safety of inactivated vaccine BBIBP-CorV in China, mRNA vaccine BNT162b2 in Pfizer and mRNA vaccine mRNA-1273 in Moderna Company are examined from the published phase I/II clinical trials of vaccines.Someone has made statistics on the safety data of phase I/II clinical trials of various COVID-19 vaccines, and all the data are shown in the following figure. After the first dose of mRNA-1273 vaccine was injected, the incidence of systemic grade I adverse reactions was 53.3%, grade II adverse reactions were 13.3%, local grade I adverse reactions were 73.3%, and grade II adverse reactions were 13.3%. After injecting the second dose, the incidence of systemic first-class adverse reactions was 20%, and the incidence of second-class adverse reactions was 80%. The incidence of local first-class adverse reactions was 66.7%, and the incidence of second-class adverse reactions was 26.7%. No adverse reactions above grade 3 were found locally or systemically.

However, after injection of Pfizer’s BNT162b2, the incidence of local or systemic adverse reactions was 41.7%, and the incidence of adverse events above grade 3 was 8.3%. For people aged 65-85, the incidence of local or systemic adverse reactions is 25%, and the incidence of adverse reactions above grade 3 is 8.3%.

The results of phase I clinical trial of domestic inactivated vaccine BBIBP-CorV in China show that the incidence of first-grade local or systemic adverse reactions is 33% for people aged 18-59, and that of second-grade adverse reactions is 13%. For people over 60, the incidence of adverse reactions is 29%, and there are no adverse events above grade 3. In the results of Phase II clinical trials, the incidence of Grade I adverse events was 15%, and the incidence of Grade II adverse events was 2%.

Fig. 4 Adverse reactions of various vaccines.

Judging from these data, among the three popular vaccines at present, the safety of inactivated vaccine in China is absolutely the best, not to mention the recent allergic storm of Pfizer vaccine, which has caused rare allergic reactions in dozens of people.

Domestic vaccines with 79% protection and no serious adverse reactions are absolutely safe and effective.Because China’s epidemic prevention and control work is very well done, we have to overcome many difficulties when conducting clinical trials of vaccines. After all, the epidemic situation in COVID-19 is well controlled and there is no condition for clinical trials, which is one of the reasons why the progress of phase III clinical trials lags behind others. We should see that even if our protection efficiency does not exceed 90% in the United States, inactivated vaccine obviously has advantages, such as it is safer and easier to store and transport. Although our protective effect is not as good as the two vaccines in the United States, it has reached the standard of vaccine approval, and the protective effect far exceeds 50%, which is trustworthy.

On June 28th, CCTV reported that it was supposed to be the law enforcement department of traffic violators, but it acted as an "umbrella" for those who were rectified. Since June last year, Harbin has destroyed 251 "protective umbrellas" hidden in the traffic system in two batches. Hongsheng Wang, the former detachment leader of the municipal traffic administrative comprehensive law enforcement detachment, and Wang Wei, the former deputy detachment leader of the municipal traffic police detachment, have been "double-opened" and transferred to judicial organs for legal treatment.

129 law enforcers act as umbrellas for personal gain.

The phenomenon of "black car" in Harbin has a long history. As early as 2007, some people reported that some people bought scrapped vehicles as taxis and operated in different regions. By 2015 and 2016, the phenomenon of "black car" reached its peak, and even openly competed with regular taxis to grab passengers, asking for exorbitant prices, looting and extortion, and passengers suffered greatly.

Hongsheng Wang, the former detachment leader of Harbin Traffic Administrative Comprehensive Law Enforcement Detachment, accepted the trial site (data picture)

As soon as the "black car" is rectified, it will disappear, and if it is not rectified, it will be on the road again. For more than 10 years, the problem of "black cars" has been banned and repeated. The reason is that, in addition to the benefit drive, the "umbrella" within the management department is the direct cause of the proliferation of "black cars".

"We must resolutely guard against and correct what the people oppose and hate", and implement the requirements of the Supreme Leader General Secretary. The main leaders of Heilongjiang Province and Harbin clearly put forward that it is an important task to punish illegally operated vehicles and investigate and deal with "protective umbrellas" to safeguard the interests of the people. On June 26 last year, a task force was formally established in Harbin to crack down on illegal operation of vehicles and strictly investigate the "protective umbrella" behind them.

The Municipal Commission for Discipline Inspection dispatched more than 30 business backbones of discipline inspection and supervision offices to participate in special rectification actions throughout the process. In the early stage, in order to investigate the problem more thoroughly, the cadres of the Commission for Discipline Inspection disguised themselves as unannounced visits, ventured to take a "black car" many times to understand the situation and mastered a lot of valuable information. After a month’s careful arrangement, starting from the early morning of July 27th, the Municipal Commission for Discipline Inspection organized and coordinated the public security, transportation and other departments to launch the "closing the net" action.

After checking 16,800 related vehicles, seizing 214 illegally operated taxis, knocking out 7 "black car" gangs, and handing over the clues of 174 illegally operated taxis to the public security organs, the "protective umbrellas" hidden behind them were revealed one by one.

On November 13th of that year, the Supervision Bureau of Harbin Municipal Commission for Discipline Inspection publicly reported the investigation and punishment of party member cadres and staff acting as "protective umbrellas" for illegally operating taxis, and severely investigated and held 129 party member cadres and staff accountable.

Among the 129 public officials notified, some involved the supervision department’s ineffective performance of the main responsibility, dereliction of duty, some involved the inaction and disorderly actions of law enforcement departments, some party member cadres lost their principles, interceded for illegal operators to ask for cars and mitigated punishment, some party member cadres tipped off illegal operators or tried to cover up the people involved, and even worse, they abused their powers because of accepting benefits and acted as "protective umbrellas" for the illegal operation of "black car" gangs.

Seven cadres, including Hongsheng Wang, the detachment leader of the Municipal Traffic Administrative Comprehensive Law Enforcement Detachment, and Li Lun, the political commissar, were expelled from the Party and public office for allegedly abusing their powers to commit crimes, harboring crimes or accepting bribes, and were transferred to judicial organs for legal treatment. Other party member cadres were punished by probation, dismissal of their posts in the Party, and severe warnings within the Party, depending on the seriousness of the case, for accepting bribes, informing people, caring for intercession and other violations.

Eight party member cadres, including Tan Hongzhi, former party secretary and director of the Municipal Transportation Bureau, Qi Ming, deputy director, and Liu Wei, leader of the discipline inspection team, were dismissed from their posts in the Party and removed from their posts by the administration for failing to perform their main responsibilities and supervisory responsibilities.

Among the 122 "protective umbrellas", 108 people are involved in the public security system.

It’s only been more than half a year since the last briefing. On June 25th, the Supervision Committee of the Harbin Municipal Commission for Discipline Inspection informed 122 leading cadres and public officials about the issue of "protective umbrellas" for the "crazy trucks". Among them, Wang Wei, deputy detachment leader of the municipal traffic police detachment, Ming Changqing, team leader of the municipal traffic police Daoli, and Yu Guangjun, etc. 11 people were transferred to judicial organs for legal treatment.

Wang Daoan, the captain of the city traffic police, Li Renming, the captain of Taiping, Han Ming, the captain of Haxi, and Gao Wenfeng, the political commissar of Acheng Brigade, were dismissed. Zhang Jidong, the former captain of the patrol brigade of the municipal traffic police detachment, and Pan Guangping, the captain of the bungalow, were respectively punished by party discipline and government affairs.

Ma Tengxiang, former deputy director of Nangang Branch of the Municipal Public Security Bureau, intervened in law enforcement and provided protection for illegal acts of trucks. He was punished by staying in the party and determined his retirement benefits according to his non-leadership positions at the official level.

Fourteen public officials from Daoli District, Daowai District, nangang district, Xiangfang District, Songbei District Urban Management Law Enforcement Bureau and Transportation Management Office of the Municipal Transportation Bureau failed to perform their supervisory responsibilities, and were punished by party discipline and government affairs respectively.

These 122 leading cadres and public officials have various ways to violate the law and discipline, some abuse their powers to give the green light, some reveal secrets to sell people’s feelings, some organize groups to violate the rules, some interfere in law enforcement, some interfere in the project for personal gain, and some release water from the source to make changes, which seriously undermines the authority and credibility of law enforcement.

It is worth noting that among the 122 "protective umbrellas", 108 people are involved in the public security system, including 100 public security traffic police.

In order to make the cadres of public security organs deeply learn the painful lessons of this case, earnestly rectify the problems, thoroughly eliminate the negative effects, and reshape the new image of public security traffic police, on the 27th, Harbin public security organs held a warning education conference.

The Harbin Public Security Bureau has studied and promulgated the "six whatevers and six unifications" prohibition iron regulations, thoroughly investigated and sorted out hidden dangers in the overall scope, and comprehensively carried out special rectification in terms of team style, police handling, law enforcement quality, and collusion between traffic police and police stations and police officers.

At the same time, a key work inspector group was set up to station in the traffic police detachment to comprehensively supervise the work of building a clean and honest party style, rectifying work style, and providing four zero services. Solidly promote the strict management of the party and the police in an all-round way, and regard June 27 of each year as the overall "warning education day" to guide the education of the whole police not to forget the shame and alarm bells.

(Reporter Li Wenxue)

　　China Daily Online, May 6 (Xinhua) Foreign media reported that recently, with the fermentation of American banking crisis, panic is intensifying in the American financial circle represented by Wall Street. Many people in the industry pointed out that the current market situation is not good, and the crisis may spread again, but the regulatory system has not paid enough attention to it.

　　"Starting with the collapse of the Silicon Valley Bank, although the government intervened to provide protection for depositors and provided loans to major banks, fear has taken root and continued to breed on Wall Street." CNN reported that.

　　"We feel a strong sense of worry and feel that something is about to happen." The report quoted Ed Moya, a senior market analyst at Anda, as saying, "Infectious panic has never dissipated."

　　This is a First Total Bank photographed in new york, USA on May 1st. (Xinhua News Agency, photo by Guo Ke)

　　Recently, the First Total Bank of the United States declared bankruptcy, becoming the third bank in the United States to close this year. Investors are beginning to worry, who will be next? Many people have focused their eyes on a regional bank in California — — Western Pacific Union Bank. On Thursday, the bank’s share price was close to "halved", and the bank has also said that it is currently exploring "strategic options".

　　Not only the Western Pacific Union Bank, but also the share price of lines West Bank in the United States once plunged after the Financial Times broke the news that it was seeking to sell. The Arizona-based bank subsequently denied the report, making its share price "recover lost ground", but its market value has dropped by 65% this year.

　　In addition, regional banks located in the southeast — — First Horizon Bank is also "teetering", and its $13 billion M&A agreement with Dominion Bank of Canada has been terminated.

　　In the face of concerns, Western Pacific Union Bank said that the bank’s current liquidity is abundant, the available liquidity is still stable, and it exceeds uninsured deposits, accounting for 188%. However, this data does not seem to completely dispel the market’s doubts.

　　"Usually, these data can dispel investors’ fears, but now it is ‘ Extraordinary period ’ 。” Edmoya said, "Even if the data doesn’t look so bad, as long as the market is eyeing you, the game is over."

　　The pessimism of the market has also been verified by the statements of some well-known investors. On Thursday, Bill Ackerman, a well-known American investor and billionaire, stated on the social media platform that the current regional banks in the United States have generally fallen into crisis.

　　Ackerman criticized the American banking supervision system. He also said: "It takes decades to build confidence in financial institutions, but it only takes a few days to completely destroy this trust. With the fall of dominoes, the next fragile bank started again ‘ Teetering ’ 。”

　　With the collapse of many banks, the financial hegemony of the dollar system is disintegrating. (Source: China Daily Roger English China Journal, March 24, 2023, 8th edition)

　　Ackerman and others are calling on the US government to further intervene and raise the upper limit of deposit insurance in the United States. At present, the maximum insured amount of most deposit accounts of the Federal Deposit Insurance Corporation of the United States is $250,000. For many companies that are struggling, this amount can only be regarded as a drop in the bucket. But even so, raising the deposit ceiling requires bipartisan support in the US Congress, and "for rational market participants, no one will count on this".

　　Ackerman is not the only one who criticizes American regulators. Mohammed El-Elian, chief economic adviser of Allianz, also said that the Fed should solve the problem of banking turmoil. He said that the risk of more bank failures has not been eliminated. The big banks in the United States will not be among the first-round shocks, and the problems will all focus on smaller and regional banks.

　　David Rosenberg, a famous economist, also criticized the Fed’s attitude towards the banking crisis. He believes that in the face of the continuous fermentation of the banking crisis, Fed officials have not paid enough attention to it.

　　"We are likely to default on our debts at the moment, and the banking crisis is spreading. Sorry Jamie (referring to Federal Reserve Chairman Jerome Powell), the crisis is not over. Focusing on inflation, these people can’t hear clearly. " Rosenberg said.

[Text/Observer Network Guo Han]

During the riots and conflicts in the past month or so, the Hong Kong police devoted themselves to their duties and exercised professional restraint, which became the last barrier to maintaining public order and defending the rule of law.

However, activists’ acts of stigmatizing the police and cyberbullying have intensified: some teachers have viciously cursed police children, and nearly 1,200 police officers’ personal data have been leaked by criminals, which has caused great troubles to the lives of the parties and their families.

In addition, the account also claimed that it "has a mole informant in the police force and major Hong Kong media", and its administrator claimed to be overseas and provoked the police to "have the ability to fly abroad to arrest me".

Superintendent Mo Junjie of Cybersecurity and Technology Crime Bureau of Hong Kong Police informed the media about the disclosure of police personal data.

Among them, the most notorious is a channel called "Old Bean" on an instant messaging software Telegram. Because of the encryption of its server, Telegram has become an online contact point for Hong Kong extremists to hook up with each other and conduct "human flesh search" on Hong Kong police and other related people.

Verified by Observer Network, this channel was established on July 7th. Since July 15th, the number of subscriptions and views has soared. At present, 74,000 subscribers have posted 911 photos, 21 videos and 26 documents, most of which are personal information of police officers and their families.

The channel manager and main information publisher is an account with the user name "Laodou Yizai", which means "father seeking son" in Cantonese, which is insulting to the police and other relevant searched people. The account claims that the team "has more than 50 people, all of whom have settled in the United States, Canada, Britain and other places".

Its operation mode is: firstly, upload photos of police officers’ faces taken by the media or protesters at the scene, then confirm the identity of police officers through face recognition and "human flesh search" and disclose their personal information: from job number and contact information to family background and family photos, the level of detail is chilling.

Screenshot of related channel release information

Because "the face recognition department needs a lot of data", the account suggested that members take photos at the entrance of the police dormitory, and emphasized that "each person has two more angles". In addition, the channel also uses vicious language to attack and threaten police officers and their families, claiming that its purpose is "the disaster will reach his wife and children".

With the outbreak of street violence, the addresses and contact information of a number of senior police officers have been exposed one after another, including Commissioner of Police Stephen Lo, Deputy Director Deng Bingqiang and British Chief Superintendent Tao Hui.

It is worth mentioning that the account once claimed that it "has a mole informant in the police force and major Hong Kong media". In addition, its contents include "teaching" in making incendiary bombs, using slingshots and hiding portable knives.

On August 1, the Hong Kong police released a video to introduce the situation that the police information was "bottomed out". Superintendent Liu Zhaobang revealed that since June 9, the personal data of more than 1,200 police officers and their families have been leaked on the Internet.

Insult words were posted on the door of a police officer’s house, and personal data were taken to borrow money from a financial company, which made family members very worried and worried every day. What’s more, even the photos of young children of police officers were made public, and some netizens threatened to "pick up their children from school".

Superintendent Liu reiterated that these acts may violate the crimes of "using computers with criminal or dishonest intentions", "criminal intimidation" or violation of privacy regulations, and the police will never tolerate them.

Screenshot: Social Media Facebook @ Hong Kong Police Force

On Friday (2nd), Hong Kong police arrested three men on suspicion of inciting others to commit public nuisance and fraud. One of the suspects was involved in using the illegally leaked information of police officers to apply for a loan online, but fortunately it was not successful.

Mo Junjie, Superintendent of Cyber Security and Technology Crime Bureau, said that in view of the recent radical remarks on the Internet, which instigated others to make offensive weapons, contain buildings, and even attack others, and caused nuisance and intimidation to police officers and their families, the police reminded young people not to break the law.

The administrator account did not forget to provoke the police while forwarding the above news, emphasizing that he was overseas and "had the ability to fly abroad to arrest me".

The channel released photos, trying to prove that the administrator took screenshots abroad.

According to a report in Ming Pao last Sunday (28th), the Hong Kong police arrested a 29-year-old man surnamed Zhang in a shopping mall on 25th on suspicion of "conspiracy or abetting murder", and accused him of being the administrator of the "Laodou Daizi" group, abetting members to assassinate the police.

However, Zhang denied this and quibbled with The New York Times that he had tried to develop a face recognition software and was suspected of being arrested. He has been released on bail pending investigation and is required to report to the police in late August.

Wu Zongluan, a lawyer group with close ties to the opposition and the convener of the Hong Kong Forensic Science Conference, said that if the case is brought to court, the prosecution must prove that the defendant has taken concrete or further actions to kill people because of the relevant remarks. He also said that this matter "is not just as simple as lip service", even if the murder did not happen in the end, there is a chance to be guilty.

According to the Crimes against the Person Ordinance of the Hong Kong Special Administrative Region, the conviction of "conspiracy or abetting murder" can be sentenced to life imprisonment.

This article is an exclusive manuscript of Observer. It cannot be reproduced without authorization.

　　CCTV News:In September this year, the Nanxian Supervision Committee of the Nanxian Discipline Inspection Committee of Yiyang City, Hunan Province received reports from many people that the commercial house they bought in Lakeview New City was charged a gas account opening fee of 2,200 yuan by the developer in violation of regulations. In fact, Hunan Province has issued regulations in early 2017, and developers are not allowed to charge users a separate gas account opening fee. Then, why will the developers of Lakeview New Town continue to charge this fee?

　　The developer of Lakeview New Town is Nanxian Huida Real Estate Development Co., Ltd. There are 6 buildings in the first phase, which have been sold out, and 5 buildings in the second phase have been capped. From December 2017 to March 2019, every time the developer sells a set of commercial housing, it will charge 2,200 yuan to the buyers separately, and a total of 2,862,200 yuan will be charged to 1,301 buyers.

　　Hu Dan, financial officer of Nanxian Huida Real Estate Development Co., Ltd.:We don’t know that this is unacceptable. We don’t know that there is a document later, that is, it should be included in the development cost, because it was not included in the development cost before, and it can be collected outside, and then we will remit it.

　　However, as early as February 2017, before the sale of real estate, the Hunan Provincial Development and Reform Commission issued the Measures for the Administration of Pipeline Gas Prices in Hunan Province, which stipulated that the installation fees of new commercial housing pipeline gas courtyard pipe network and indoor pipeline were included in the development and construction costs, and the commercial housing developers settled with the gas operating enterprises according to the regulations of the competent price department, and no longer charged separately to users.

　　Song Xianghua, member of the Standing Committee of Discipline Inspection Committee of Nanxian County, Yiyang City:According to our investigation, at least in the process of price filing, those managers should be aware of this policy, because they have already filed the relevant expenses of gas into the house price when filing; And according to our understanding, the price department also publicized this policy with them during the filing process.

　　Inadequate supervision leads to illegal charges by developers.

　　In January this year, Nanxian Real Estate Management Bureau, Development and Reform Bureau and other four departments jointly carried out special rectification of the real estate market order. However, in this inspection, the relevant departments did not carefully check and supervise the collection of water, electricity, gas and other fees for the property. After the problem was verified, the Supervision Committee of Nanxian Commission for Discipline Inspection ordered Nanxian Market Supervision Bureau to handle it according to law. At present, 1,100 buyers have received refunds, and the relevant person in charge of the price supervision department has also been dealt with.

　　During the investigation, the discipline inspection and supervision team found that during the sale of commercial housing, the developer had submitted a clearly marked book for the filing and filing of the sales price of commercial housing in Nanxian County to the relevant departments. The price list shows that the average selling price is 4,080 yuan per square meter, which includes the infrastructure for the sale of commercial housing, while the project collected and remitted by the developer does not include the gas account opening fee. However, through careful comparison, the discipline inspection and supervision team found that although the developer promised the relevant departments not to charge the gas fee, the Commercial House Sales Contract signed with the owner stipulated that the total price of the commercial house did not include the construction fee of the gas pipeline network facilities, which should be borne by the buyer.

　　Developers charge fees in violation of regulations. As the price supervision department, the original price inspection unit of Nanxian Development and Reform Bureau has been assigned to the County Market Supervision Administration, but problems have not been found in time in daily supervision.

　　Refunded 1,100 supervisors were dealt with.

　　On September 23, Nanxian Market Supervision Bureau issued a Notice of Ordering Refund to Hujing New Town developer Huida Real Estate Development Co., Ltd., ordering the company to refund the illegally charged gas account opening fee to the buyers. The reporter saw in the property office of Hujing New Town that a gas refund office has been set up here, and buyers can get a refund with their ID cards and purchase contracts.

　　Owner Cao Hui:When we took the house, the property said that the gas fee would not be available. We are in the countryside and have no pension. For us, 2200 is our living expenses for half a year.

　　In the special rectification work in January this year, the relevant personnel in charge of price supervision have been given administrative warning by the Supervision Committee of Nanxian Commission for Discipline Inspection for violating work discipline.

　　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)

　　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