There are three main characteristics of the official nest case in Maoming, Guangdong. First, it lasts for a long time — — It has been five years since the opening of the "second season" from 2009 to March this year; Second, there are many officials involved — — The main leaders of six counties (districts) under the jurisdiction of the city are all involved in the case, including more than 240 cadres from the division level to the deputy department level. The highest-ranking official is Zhou Zhenhong (deputy department level, investigated in January 2012); Many people involved have not been dealt with — — On March 28th this year, after about two years of calm, Feng Limei, the former chairman of Maoming CPPCC and retired for two years, was investigated, which marked the resumption of the "second season" of Maoming officialdom case. Yesterday (April 26th), The Beijing News published the handwritten notes of reporter Zhou Qingshu. During the interview, he came into contact with many on-the-job officials, family members of officials being dealt with, businessmen involved in the case and retired veteran cadres, and even accidentally obtained some files of Luo Yinguo, former secretary of Maoming Municipal Party Committee. Through case file analysis, Luo Yinguo case is an important link in the Maoming Wo case. According to media reports in March, 2011, Luo Yinguo, the former secretary of Maoming Municipal Party Committee, completely collapsed during the investigation and gave up more than 100 officials. According to a former organization department official in Maoming, Luo Yinguo’s fall stems from three major mistakes: "making friends carelessly" and "I didn’t manage my subordinates well, and I didn’t manage my wife well.

The following is the handwriting of reporter Zhou Qingshu published by Beijing News yesterday (April 26th)..

The case of corruption in Maoming officialdom, which has been silent for two years, has once again entered the public eye.

Feng Limei, chairman of Guangdong Maoming CPPCC, was investigated. This may be a key to re-investigating the Maoming Wo case.

The Maoming officialdom case, which began in 2009, involved more than 240 cadres at the departmental and departmental levels, and all the main leaders of six counties (districts) under the jurisdiction of the city were involved.It was not until January 2012 that Zhou Zhenhong, then the head of Guangdong United Front Work Department and former secretary of Maoming Municipal Party Committee, was investigated, and then Maoming officialdom returned to calm..

According to media reports, more than 160 officials were spared when dealing with the Maoming Wo case. And Feng Limei is one of them..

Feng Limei (first from left) and Luo Yinguo (middle blue tie)

The interview was not as difficult as I thought. I easily found many on-the-job officials, family members of officials being dealt with, businessmen involved in the case and retired veteran cadres. Shake hands, simple greetings, I don’t even need to show my papers to each other, so they talked to me a lot.

This is different from the local officials I have contacted before: because of anger or injustice, they urgently need someone to talk to, and they have not shown any caution..

During the interview, I accidentally obtained some files of Luo Yinguo, the former party secretary of Maoming.

The Luo Yinguo case is an important link in the Maoming Wo case..

Influenced by the case of Yang Guangliang, a subordinate and former executive deputy mayor of Maoming, Luo Yinguo, then secretary of Maoming Municipal Party Committee, was investigated in February 2011. According to media reports, Luo Yinguo, which collapsed in an all-round way, gave up more than 100 officials, and Maoming officialdom was shocked.

When the case file was handed to me, the official said two words, which impressed me deeply: The first sentence is that so many officials who paid bribes to Luo Yinguo are still in office, and many people have grievances; The second sentence is that the Luo Yinguo case was the epitome of Maoming officialdom at that time.

The long duration of the case, the large number of officials involved, "one investigation after another, one nest at one end" and many people involved have not been dealt with are the characteristics of Maoming’s officialdom nest case.

After returning to the hotel, I went through these files on my bed. Because the material is solid and the direction is clear, the characteristics of the above-mentioned nest case are clearly exposed.

1. "Making friends carelessly", "Failing to take care of subordinates" and "Failing to take care of his wife"

Luo Yinguo’s case file shows that during the 18 years from 1993 to January 2011, 63 people paid him 61 bribes. Among them, there are 44 leading cadres of the party and government or institutions and 19 businessmen.

Luo Yinguo

A former official of Maoming Organization Department concluded that Luo Yinguo’s fall resulted from three major mistakes.

First, making friends carelessly, "he made friends with some business owners such as real estate agents"; Second, there is no management of subordinates. The biggest mistake is that "I didn’t manage my wife well."

This is also reflected in Luo Yinguo’s case files. Of the 61 bribery records, 16 bribes were accepted jointly by Luo Yinguo and his wife Zou Jifang, together with them or directly through Zou Jifang.

Zou Jifang also failed to escape punishment. In July 2013, Zou Jifang was convicted of accepting bribes and sentenced to six years in prison.

2. The structure of "one loss and one loss" joint crime

Looking at Maoming’s corruption case, bribery and buying and selling officials are the key words to string isolated official corruption cases into a crime case, which also makes Maoming’s corruption case show a "one loss, one loss" joint crime structure.

Take the case of Luo Yinguo as an example. Influenced by the case of Yang Guangliang, a subordinate and former executive deputy mayor of Maoming, Luo Yinguo was investigated. According to media reports, Luo Yinguo, which collapsed in an all-round way, gave up more than 100 officials, and Maoming’s officialdom fluctuated.

In the public information, three bribery officials involved in the Luo case have been sentenced at present: Zhu Yuying, deputy director of the former Standing Committee of Maoming City; Lei Ting, Assistant Mayor of Maoming; Huang Hong, former politics and law committee secretary and public security chief of Huazhou City.

According to the judicial materials of the above three people, before and after bribing Luo Yinguo for promotion, they all involved buying and selling officials, trading power and money with businessmen or abusing their power.

Zhu Yuying has received 57 local cadres totaling RMB 12.38 million, HK$ 3.6 million and US$ 200,000.

On December 22, 2011, Qiu Hai, deputy secretary of the Guangdong Provincial Commission for Discipline Inspection, informed the CPPCC Standing Committee members about the anti-corruption work in Guangdong Province in 2011 at the 17th meeting of the 10th CPPCC Standing Committee, and mentioned that the characteristics of "organized crime" of corruption have become increasingly obvious in recent years, with "one investigation and one nest at one end".

3. The peak of power and crime

As can be seen from the case file, Luo Yinguo’s bribery is closely related to his personal power.

As of February 2012, 15 principal officials involved in the Maoming Wo case (Photo: Caixin.com)

Before September, 2001, Luo Yinguo served as Secretary-General of Maoming Municipal Committee and Secretary of Gaozhou Municipal Committee, and received five bribes. Later, he was transferred to the post of Deputy Secretary of Maoming Municipal Committee and Secretary General of Municipal Committee.

In April 2003, Luo Yinguo was promoted to mayor of Maoming City, and in 2007, Luo Yinguo was promoted to secretary of Maoming Municipal Party Committee.

The time of 56 bribery cases all crossed with 2003, or occurred after 2003.

During this period, Luo Yinguo is stepping towards the peak of personal power.

Lin Haokun, deputy secretary of the Guangdong Provincial Commission for Discipline Inspection and director of the Provincial Supervision Department, once said that "the source of all corruption is power" when talking about the Maoming series of corruption cases.

4. The "art" of bribery

The case file shows that the purpose and means of bribery of officials and businessmen are naked without losing Maoming’s characteristics.

Most officials or businessmen pay bribes for their own direct interests. In addition, five officials and businessmen pay bribes for "indirect benefits".

For example, Lin Guowen, a businessman, bribed Luo Yinguo to ask Luo Yinguo to take care of the promotion of Cai Jinxiong, a deputy-level cadre of Maoming Commission for Discipline Inspection.

A cadre at the official level in Maoming said that in addition to embezzling public funds, accepting bribes and receiving red envelopes, another main source of official bribery funds is to find support from the boss, "and then give the boss a reward by taking care of the project after taking office".

In the case file, Xie Yaosheng, a businessman, was mentioned twice. He and another person in charge of the company paid bribes to Luo Yinguo from 2006 to 2009.

The official cadre and a businessman in Maoming said that Xie Yaosheng’s wife was introduced by Luo Yinguo’s wife. According to Maoming custom, with this relationship, Xie Yaosheng became the matchmaker of Luo Yinguo and his wife, "which is closer than recognizing Luo Yinguo as a godmother".

According to the analysis of the case file, among the 63 bribers involved in the Luo case, 41 paid bribes to Luo Yinguo in US dollars or Hong Kong dollars.

Apart from Guangdong’s geographical proximity to Hong Kong, Maoming officials said that during Luo Yinguo’s bribery period, US$ 100 was about equal to 700 yuan RMB, while Hong Kong dollars were denominated in 1000 yuan. "When bribing cash, you can put dollars or Hong Kong dollars directly into a small briefcase, which is large and inconspicuous."

5, many people did not enter the judicial process.

Another notable feature of the Maoming officialdom case is that many officials involved have not entered the judicial process.

According to media reports, more than 160 officials, including Feng Limei, were spared in the Maoming Wo case involving more than 240 cadres at the departmental and departmental levels.

Take the case of Luo Yinguo as an example. According to the case file, the insider’s account and the public information, I calculated that at least 24 of the 44 leading cadres of the party, government and institutions who paid bribes to Luo Yinguo were still in their original posts, transferred to other posts and retired.

Chapter V Shareholders’ Rights and Equity Transfer System

47. When the equity of a limited liability company is transferred, when can the transferee claim to exercise the shareholders’ rights from the company?

The company has an important legal status in the equity transfer, and the company shall be notified of the equity transfer. The change of the shareholders’ register is a sufficient condition for the transferee to obtain the equity, and it is also an important certificate for the shareholders to claim to exercise their rights to the company. The company shall change the shareholders’ register in time after knowing the fact of the equity transfer. When the company completes the act of changing the register of shareholders, it means that the company has recognized the transferee to join the company as a new shareholder, and the transferee enjoys the corresponding shareholder rights.

Legal tip: Before the equity registration change is completed, the equity enjoyed by the transferee shall not be opposed to a bona fide third party. If the company refuses to change, resulting in the corresponding losses of the transferee, the company shall be liable for compensation, and the company may also pursue the legal liability for violating the fiduciary duty from the responsible directors and senior management.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 86 Where a shareholder transfers his equity, he shall notify the company in writing and request to change the register of shareholders. Where it is necessary to go through the registration of change, and request the company to go through the registration of change with the company registration authority. If the company refuses or fails to reply within a reasonable period of time, the transferor and transferee may bring a lawsuit to the people’s court according to law.

In the case of equity transfer, the transferee may claim the exercise of shareholders’ rights from the time it is recorded in the register of shareholders.

Article 73 After the equity is transferred in accordance with Articles 71 and 72 of this Law, the company shall cancel the capital contribution certificate of the original shareholder, issue the capital contribution certificate to the new shareholder, and modify the records of shareholders and their capital contribution in the Articles of Association and the register of shareholders accordingly. This amendment to the Articles of Association does not need to be voted by the shareholders’ meeting.

48, after the implementation of the new "Company Law", the legitimate rights and interests of subsidiaries have been infringed, but the subsidiaries have not or are slow to safeguard their rights and interests, do the shareholders of the parent company have the right to bring a lawsuit in their own name?

Eligible shareholders may bring a lawsuit on behalf of the company if the board of directors and the board of supervisors fail or refuse to perform their duties; Shareholders of the parent company can also exercise the right to file a lawsuit on behalf of the wholly-owned subsidiary according to their shareholder relationship with the parent company and the shareholding structure of the parent company, and the litigation effect belongs to the subsidiary rather than the parent company. Just like the shareholder’s representative lawsuit, the shareholders of the parent company should perform the pre-procedure and exhaust internal remedies when they file a representative lawsuit, otherwise they have no right to file a representative lawsuit.

Legal Tip: The shareholding requirements of the qualified plaintiff in the shareholder’s dual representative lawsuit depend on the company type of the parent company, that is, when the parent company is a joint stock limited company, it must hold more than 1% of the shares of the parent company for more than 180 consecutive days, and the limited liability company can hold the shares of the parent company. When it becomes a shareholder of the parent company and the shareholding ratio will not affect the plaintiff’s subject qualification. In order to cooperate with the dual representative litigation, the shareholders of the parent company can exercise the right to know about the wholly-owned subsidiaries if they meet the conditions.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 110 Shareholders have the right to consult and copy the company’s articles of association, shareholders’ register, minutes of shareholders’ meetings, resolutions of board meetings, resolutions of board meetings, and financial and accounting reports, and make suggestions or queries on the company’s operation.

Where shareholders who individually or collectively hold more than 3% of the company’s shares for more than 180 consecutive days request to consult the company’s accounting books and vouchers, the provisions of paragraphs 2, 3 and 4 of Article 57 of this Law shall apply. Where the articles of association have lower provisions on the shareholding ratio, such provisions shall prevail.

The provisions of the preceding two paragraphs shall apply to shareholders who request to consult and copy the relevant materials of wholly-owned subsidiaries of the company.

Shareholders of listed companies shall abide by the provisions of the Securities Law of People’s Republic of China (PRC) and other laws and administrative regulations when consulting and copying relevant materials.

Article 97 Shareholders have the right to consult the Articles of Association, the register of shareholders, corporate bond stubs, minutes of shareholders’ general meetings, resolutions of board meetings, resolutions of board meetings and financial and accounting reports, and make suggestions or queries on the operation of the company.

Article 189 Where a director or senior manager is in any of the circumstances specified in the preceding article, shareholders of a limited liability company or shareholders of a joint stock limited company who individually or collectively hold more than 1% of the company’s shares for more than 180 consecutive days may request the board of supervisors to file a lawsuit in a people’s court in writing; Where the supervisor is in any of the circumstances specified in the preceding article, the aforesaid shareholders may request the board of directors to bring a lawsuit to the people’s court in writing.

If the board of supervisors or the board of directors refuses to bring a lawsuit after receiving the written request of the shareholders specified in the preceding paragraph, or fails to bring a lawsuit within 30 days from the date of receiving the request, or the interests of the company will be irretrievably damaged if the case is urgent and the lawsuit is not brought immediately, the shareholders specified in the preceding paragraph have the right to bring a lawsuit directly to the people’s court in their own name for the interests of the company.

If others infringe upon the legitimate rights and interests of the company and cause losses to the company, the shareholders specified in the first paragraph of this article may bring a lawsuit to the people’s court in accordance with the provisions of the preceding two paragraphs.

Where the directors, supervisors and senior managers of a wholly-owned subsidiary of the company are in any of the circumstances specified in the preceding article, or others infringe upon the legitimate rights and interests of the wholly-owned subsidiary of the company and cause losses, shareholders of a limited liability company or shareholders of a joint stock limited company who individually or collectively hold more than one percent of the company’s shares for more than 180 consecutive days may, in accordance with the provisions of the preceding three paragraphs, request in writing the board of supervisors and the board of directors of the wholly-owned subsidiary to file a lawsuit in a people’s court or directly file a lawsuit in their own name.

Article 151 Where a director or senior manager has any of the circumstances specified in Article 149 of this Law, shareholders of a limited liability company or shareholders of a joint stock limited company who individually or collectively hold more than 1% of the company’s shares for more than 180 consecutive days may request in writing the board of supervisors or supervisors of a limited liability company without a board of supervisors to bring a lawsuit to the people’s court; Where the supervisor is in any of the circumstances specified in Article 149 of this Law, the aforementioned shareholders may request in writing the board of directors or the executive director of a limited liability company without a board of directors to bring a lawsuit to the people’s court.

Where the board of supervisors, supervisors of a limited liability company without a board of supervisors, or the board of directors and executive directors refuse to bring a lawsuit after receiving the written request from the shareholders specified in the preceding paragraph, or fail to bring a lawsuit within 30 days from the date of receiving the request, or the interests of the company will be irretrievably damaged if the case is urgent and the lawsuit is not brought immediately, the shareholders specified in the preceding paragraph have the right to bring a lawsuit directly to the people’s court in their own name for the benefit of the company.

If others infringe upon the legitimate rights and interests of the company and cause losses to the company, the shareholders specified in the first paragraph of this article may bring a lawsuit to the people’s court in accordance with the provisions of the preceding two paragraphs.

49. Can the company refuse the request of shareholders to consult accounting books and accounting vouchers?

Shareholders’ right to know involves the balance of interests between the company and shareholders. While protecting shareholders’ rights, we should also take into account the overall interests of the company to prevent shareholders from abusing the right to know and harming the interests of the company. Accounting vouchers include original vouchers and accounting vouchers, which can directly reflect the dynamic economic business of enterprises. By consulting the company’s accounting vouchers, shareholders can more directly understand the company’s operation, which is conducive to reducing the negative impact of information asymmetry on the protection of shareholders’ legitimate rights and interests. Under normal circumstances, accounting vouchers are also the scope for shareholders to exercise their right to know. However, since the company’s accounting books and vouchers belong to the company’s sensitive information, if the company has evidence to prove that the shareholders have improper purposes, which may harm the company’s interests, it may refuse to consult the request and give a written reply to the shareholders within 15 days from the date of the shareholders’ written request and explain the reasons.

Legal tip: shareholders can only exercise their right to know accounting vouchers by "consulting" and have no right to copy them. Shareholders’ access to accounting vouchers should be related to the purpose of their written request, and shareholders have no right to access them beyond the scope of the purpose of access.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 57 Shareholders have the right to consult and copy the Articles of Association, the register of shareholders, minutes of shareholders’ meetings, resolutions of board meetings, resolutions of board meetings and financial accounting reports.

Shareholders may request to consult the company’s accounting books and vouchers. Where a shareholder requests to consult the company’s accounting books and vouchers, he shall submit a written request to the company, explaining the purpose. If the company has reasonable grounds to believe that shareholders have improper purposes in consulting accounting books and accounting vouchers, which may harm the legitimate interests of the company, it may refuse to provide access, and shall give a written reply to shareholders within 15 days from the date of their written request and explain the reasons. If the company refuses to provide inspection, the shareholders may bring a lawsuit to the people’s court.

Shareholders may entrust accounting firms, law firms and other intermediaries to consult the materials specified in the preceding paragraph.

Shareholders and their entrusted accounting firms, law firms and other intermediaries shall abide by the provisions of laws and administrative regulations on the protection of state secrets, business secrets, personal privacy and personal information when consulting and copying relevant materials.

The provisions of the preceding four paragraphs shall apply to shareholders who request to consult and copy the relevant materials of wholly-owned subsidiaries of the company.

Article 33 Shareholders have the right to consult and copy the Articles of Association, minutes of shareholders’ meetings, resolutions of board meetings, resolutions of board meetings and financial and accounting reports.

Shareholders may request to consult the company’s accounting books. Where a shareholder requests to consult the company’s accounting books, he shall submit a written request to the company, explaining the purpose. If the company has reasonable grounds to believe that the shareholders’ access to the accounting books has improper purposes, which may harm the legitimate interests of the company, it may refuse to provide access, and shall give a written reply to the shareholders within 15 days from the date of the shareholders’ written request and explain the reasons. If the company refuses to provide inspection, the shareholders may request the people’s court to require the company to provide inspection.

Article 110 Shareholders have the right to consult and copy the company’s articles of association, shareholders’ register, minutes of shareholders’ meetings, resolutions of board meetings, resolutions of board meetings, and financial and accounting reports, and make suggestions or queries on the company’s operation.

Where shareholders who individually or collectively hold more than 3% of the company’s shares for more than 180 consecutive days request to consult the company’s accounting books and vouchers, the provisions of paragraphs 2, 3 and 4 of Article 57 of this Law shall apply. Where the articles of association have lower provisions on the shareholding ratio, such provisions shall prevail.

The provisions of the preceding two paragraphs shall apply to shareholders who request to consult and copy the relevant materials of wholly-owned subsidiaries of the company.

Shareholders of listed companies shall abide by the provisions of the Securities Law of People’s Republic of China (PRC) and other laws and administrative regulations when consulting and copying relevant materials.

Article 97 Shareholders have the right to consult the Articles of Association, the register of shareholders, corporate bond stubs, minutes of shareholders’ general meetings, resolutions of board meetings, resolutions of board meetings and financial and accounting reports, and make suggestions or queries on the operation of the company.

50. Do shareholders need to state their purpose when exercising their right to know?

Shareholders’ right to know is the right for shareholders to obtain company information and understand the company’s situation, the premise for shareholders to participate in the decision-making on major issues of the company, and the basis for shareholders to exercise other rights smoothly. Therefore, when shareholders consult the articles of association, shareholders’ register, minutes of shareholders’ meeting, minutes of board meeting, minutes of board meeting and financial accounting report, it is unnecessary to state the purpose of consulting. Only when consulting accounting books and accounting vouchers, it should be based on legitimate and goodwill purposes and directly related to its status or interests as a shareholder. If the shareholders are not for the above-mentioned purposes, but have a substantial competitive business relationship with the company’s main business because they are self-employed or operate for others, or the company may damage the company’s interests in order to inform others of the relevant information, or the company has evidence to prove that the shareholders have informed others of the relevant information by exercising the right to know, it may be regarded as having an improper purpose, and the company may refuse the inquiry request.

Legal Tip: When exercising the right to know, shareholders should abide by laws and administrative regulations such as keeping state secrets, business secrets, personal privacy, personal information, etc. If shareholders and their assistants violate confidentiality obligations and cause damage to the company’s interests, they should bear relevant tort liability.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 57 Shareholders have the right to consult and copy the Articles of Association, the register of shareholders, minutes of shareholders’ meetings, resolutions of board meetings, resolutions of board meetings and financial accounting reports.

Shareholders may request to consult the company’s accounting books and vouchers. Where a shareholder requests to consult the company’s accounting books and vouchers, he shall submit a written request to the company, stating the purpose. If the company has reasonable grounds to believe that shareholders have improper purposes in consulting accounting books and accounting vouchers, which may damage the legitimate rights and interests of the company, it may refuse to provide access, and shall give a written reply to shareholders within 15 days from the date of their written request and explain the reasons. If the company refuses to provide inspection, the shareholders bring a lawsuit to the people’s court.

Shareholders may entrust accounting firms, law firms and other intermediaries to consult the materials specified in the preceding paragraph.

Shareholders and their entrusted accounting firms, law firms and other intermediaries shall abide by the provisions of laws and administrative regulations on the protection of state secrets, business secrets, personal privacy and personal information when consulting and copying relevant materials.

The provisions of the preceding four paragraphs shall apply to shareholders who request to consult and copy the relevant materials of wholly-owned subsidiaries of the company.

Article 8 of Judicial Interpretation IV of the Company Law If a limited liability company has evidence to prove that its shareholders have any of the following circumstances, the people’s court shall determine that the shareholders have "improper purposes" as stipulated in the second paragraph of Article 33 of the Company Law:

(1) Where a shareholder runs a business that is substantially competitive with the company’s main business on his own account or for others, unless otherwise stipulated in the articles of association or agreed by all shareholders;

(2) Shareholders consult the company’s accounting books in order to inform others about relevant information, which may harm the legitimate interests of the company;

(3) Shareholders have informed others of relevant information by consulting the company’s accounting books within three years before the date of filing a request for consulting with the company, which has harmed the legitimate interests of the company;

(4) Other circumstances in which shareholders have improper purposes.

51. After the shareholders of a limited liability company transfer their shares to the outside world and other shareholders claim to exercise the preemptive right, can the transferring shareholders give up the transfer?

Shareholders’ property ownership is protected by law, and shareholders enjoy the right to dispose of their own property freely according to law. Before the transferring shareholder has not signed an agreement with the transferee, the transferring shareholder’s disposition of property ownership is not restricted. When it is not satisfied that it can transfer its equity to a specific transaction object selected by it, it has the right to give up the equity transfer and not sign an equity transfer contract with the intended transferee.

Legal tip: Protecting other shareholders’ preemptive right is the condition of equity transfer, but it doesn’t mean that shareholders have no right to refuse other shareholders to exercise their preemptive right. As long as shareholders give up the external transfer of equity, they can continue to hold equity.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 84 Shareholders of a limited liability company may transfer all or part of their shares to each other.

Where a shareholder transfers his equity to a person other than a shareholder, he shall notify other shareholders in writing of the quantity, price, payment method and time limit of his equity transfer, and other shareholders shall have the preemptive right under the same conditions. If the shareholder fails to reply within 30 days from the date of receiving the written notice, it shall be deemed as giving up the preemptive right. Where two or more shareholders exercise the preemptive right, their respective purchase proportions shall be determined through consultation; If negotiation fails, the preemptive right shall be exercised in accordance with their respective investment proportions at the time of transfer.

Where there are other provisions on equity transfer in the articles of association, such provisions shall prevail.

Article 20 of Judicial Interpretation 4 of the Company Law, if the transferring shareholder of a limited liability company refuses to transfer the equity after other shareholders claim the preemptive right, the people’s court will not support the claim of the preemptive right of other shareholders, unless otherwise stipulated in the articles of association or agreed by all shareholders. If other shareholders claim that it is reasonable to transfer shareholders to compensate their losses, the people’s court shall support them.

52. How can the transferee seek relief if it is found that the capital contribution corresponding to the equity has escaped or is untrue after the equity is transferred?

After the capital contribution is withdrawn or the equity transfer with false capital contribution is made, the transferor and the transferee shall be jointly and severally liable within the scope of insufficient capital contribution, but if the transferee has evidence to prove that he did not know and should not have known of the above situation, the transferor shall be liable. If the transferee discovers it in time, he may exercise the right to terminate the contract or cancel it, etc. After assuming the responsibility for not finding it in time, you can recover from the transferor and ask him to bear the liability for breach of contract.

Legal tip: The transferee shall fulfill the corresponding due diligence obligation and carefully verify the capital contribution of the equity to be transferred. At the same time, it may stipulate in the contract the liability for withdrawing capital contribution or making false capital contribution and the transferor’s liability for breach of contract.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 88 Where a shareholder transfers the equity that has subscribed for capital contribution but has not yet reached the deadline for capital contribution, the transferee shall bear the obligation to pay the capital contribution; If the transferee fails to pay the capital contribution in full and on time, the transferor shall bear supplementary responsibilities for the capital contribution that the transferee fails to pay on time.

If a shareholder fails to pay the capital contribution according to the date stipulated in the Articles of Association or the actual price of the non-monetary property as capital contribution is significantly lower than the subscribed capital contribution, the transferor and transferee shall bear joint liability within the scope of insufficient capital contribution; If the transferee does not know and should not know of the above situation, the transferor shall bear the responsibility. Article 18, paragraph 1, of Interpretation III of the Company Law, the shareholders of a limited liability company transfer their shares without fulfilling or fully fulfilling their capital contribution obligations, and the transferee knows or should know that if the company requests the shareholders to fulfill their capital contribution obligations and the transferee is jointly and severally liable for this, the people’s court shall support it; If the creditors of the company bring a lawsuit to the shareholder in accordance with the second paragraph of Article 13 of these Provisions, and at the same time request the transferee to bear joint and several liability for this, the people’s court shall support it.

53. The company has not made a resolution of shareholders’ meeting on profit distribution. Can shareholders sue for profit distribution?

Profit distribution right is an important right of shareholders, but whether and how much the company distributes profits is a matter of independent decision-making in principle, based on the business judgment made by the company. According to the company’s capital situation and future development plan, the company can make a decision to distribute profits, or not to distribute profits according to business needs. When the shareholders’ meeting fails to make a resolution on the distribution of profits, the people’s court generally does not support the shareholders’ lawsuit requesting the distribution of profits.

Legal Tip: Although the shareholders have no right to ask the company to distribute profits when the shareholders’ meeting of the company fails to make a resolution, unless the shareholders provide evidence to prove that the company does not distribute profits due to the abuse of shareholders’ rights in violation of the law, it will cause losses to other shareholders. The purpose of shareholders’ investment is to obtain investment income. If the company does not distribute profits to shareholders of the company for five consecutive years in line with the profit distribution, shareholders have the right to request the company to buy back their shares.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 210 When distributing the after-tax profits of the current year, the company shall allocate 10% of the profits to the company’s statutory reserve fund. If the accumulated amount of the statutory common reserve fund of the company is more than 50% of the registered capital of the company, it may not be withdrawn.

If the statutory reserve fund of the company is insufficient to make up for the losses of the previous year, the profits of the current year shall be used to make up for the losses before the statutory reserve fund is withdrawn in accordance with the provisions of the preceding paragraph.

After the company withdraws the statutory reserve fund from the after-tax profit, it can also withdraw any reserve fund from the after-tax profit after the resolution of the shareholders’ meeting.

The after-tax profits of the company after making up the losses and withdrawing the common reserve fund shall be distributed by the limited liability company according to the proportion of the capital contribution actually paid by the shareholders, unless all the shareholders agree not to distribute the profits according to the proportion of the capital contribution; A joint stock limited company distributes profits according to the proportion of shares held by shareholders, unless otherwise stipulated in the articles of association.

The company’s shares held by the company shall not be distributed with profits.

Article 166 When distributing the after-tax profits of the current year, the company shall allocate 10% of the profits to the company’s statutory reserve fund. If the accumulated amount of the statutory common reserve fund of the company is more than 50% of the registered capital of the company, it may not be withdrawn.

If the statutory reserve fund of the company is insufficient to make up for the losses of the previous year, the profits of the current year shall be used to make up for the losses before the statutory reserve fund is withdrawn in accordance with the provisions of the preceding paragraph.

After the company withdraws the statutory reserve fund from the after-tax profits, it may also withdraw any reserve fund from the after-tax profits upon the resolution of the shareholders’ meeting or shareholders’ meeting.

The after-tax profits of the company after making up the losses and withdrawing the provident fund shall be distributed by the limited liability company in accordance with the provisions of Article 34 of this Law; A joint stock limited company shall distribute shares according to the proportion of shares held by shareholders, unless the articles of association of a joint stock limited company stipulate that the shares shall not be distributed according to the proportion of shares held.

If the shareholders’ meeting, shareholders’ general meeting or the board of directors violates the provisions of the preceding paragraph and distributes profits to shareholders before the company makes up losses and withdraws the statutory reserve fund, the shareholders must return the profits distributed in violation of the provisions to the company.

The company’s shares held by the company shall not be distributed with profits.

54. After the implementation of the new Company Law, how can a joint stock limited company issue classified shares?

According to the company’s articles of association, a joint stock limited company may issue the following types of shares: shares with priority or inferior distribution of profits or residual property; Shares with more or less voting rights per share than ordinary shares; The transfer of restricted shares shall be subject to the consent of the company; Other types of units specified by the State Council. A company that publicly issues shares, except those that have been issued before the public offering, can only issue preferred shares or inferior shares in principle; In the election and replacement of supervisors or members of the audit committee, preferred shares or inferior shares enjoy the same voting rights as ordinary shares.

Legal tip: shareholders of classified shares are usually in a weak position in corporate governance, so companies that issue classified shares should specify measures to protect the rights and interests of minority shareholders in their articles of association, so as to prevent the issuance of classified shares from violating the concept of substantive equality of shareholders. The supervisor and the audit committee are supervision individuals of the company. Shareholders of preferred shares (inferior shares) and voting shares are required to keep the same number of voting rights as those of ordinary shareholders when the above members are elected and replaced, which can prevent them from improperly interfering with the exercise of the company’s supervision right by virtue of the selection of supervisors and damaging the legitimate rights of ordinary shareholders.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 144 A company may, in accordance with the provisions of its articles of association, issue the following types of shares with rights different from those of ordinary shares:

(a) the priority or inferior distribution of profits or shares of surplus property;

(2) Shares with more or less voting rights per share than ordinary shares;

(3) The transfer of shares subject to restrictions such as the consent of the company;

(4) Other types of units specified by the State Council.

A company that publicly issues shares may not issue shares of the categories specified in Items 2 and 3 of the preceding paragraph; Except those that have been issued before the public offering.

Where the company issues the classified shares specified in Item 2 of Paragraph 1 of this Article, the number of voting rights of the classified shares is the same as that of the common shares for the election and replacement of the supervisors or members of the audit committee.

Article 145 A company that issues class shares shall specify the following items in its articles of association:

(1) The order in which the class shares distribute profits or surplus property;

(2) The number of voting rights of class shares;

(3) restrictions on the transfer of class shares;

(4) Measures to protect the rights and interests of minority shareholders;

(5) Other matters that the shareholders’ meeting deems necessary.

Article 131 the State Council may make separate regulations on the issuance of shares of companies other than those specified in this Law.

55. Is the stock holding behavior of listed companies prohibited?

As a public company, the ownership structure and actual control of listed companies must be open and transparent to ensure that investors can understand the company’s operating conditions and risks. Individuals or institutions should strictly abide by the provisions of laws and administrative regulations, such as the nominal holding system in Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, and the settlement institution recorded in the register of shareholders of listed companies is the nominal holder. This kind of apparent holding is a legal institutional arrangement and should not be denied. However, if the consignment behavior affects the truthfulness, accuracy and completeness of the information disclosure of listed companies, causing investors to misjudge the listed companies and related situations, or even hiding criminal acts such as corruption and bribery, it is prohibited.

Legal Tip: Most of the regulations on the stock consignment behavior of listed companies focus on the rules and regulations of the CSRC. The core criterion is whether the consignment behavior seriously damages the financial security of the country or the management order in a specific field. If the departmental rules and regulations reflect the principled value orientation of financial management and financial security, violating the relevant regulations may lead to the behavior being invalid because it violates the principle of good faith or the principle of public order and good customs.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 140th A listed company shall disclose the information of shareholders and actual controllers according to law, and the relevant information shall be true, accurate and complete.

It is forbidden to hold shares of listed companies in violation of laws and administrative regulations.

The information disclosed by the information disclosure obligor in the second paragraph of Article 78 of the Securities Law shall be true, accurate, complete, concise, clear and easy to understand, and there shall be no false records, misleading statements or major omissions.

56. Can a subsidiary of a listed company acquire the shares of the listed company?

A holding subsidiary of a listed company shall not directly or indirectly purchase or hold shares of the listed company. If it holds shares of the listed company due to company merger, pledge exercise and other reasons, it shall not only exercise the right to vote, but also dispose of the shares of the listed company in a timely manner. Cross-shareholding between listed companies and their holding subsidiaries is prohibited, so as to ensure that the relationship between them is transparent, fair and independent, prevent potential conflicts of interest and improper control, and safeguard the stability and fairness of the capital market.

Legal Tip: The holding subsidiary of a listed company should dispose of its shares in a timely manner. If the holding subsidiary of a listed company does hold shares for special reasons according to the Listing Rules of Shenzhen Stock Exchange, the situation should be eliminated within one year.

Comparison between old and new laws:

The new company law, the original company law and related regulations

Article 141 A holding subsidiary of a listed company shall not acquire shares of the listed company.

Where a holding subsidiary of a listed company holds shares of the listed company due to company merger, pledge exercise and other reasons, it shall not exercise the voting rights corresponding to the shares held, and shall dispose of the shares of the listed company in a timely manner.

To be continued.

Original title: "Article 66 Questions and Answers on the Implementation Points of the New Company Law" Part V: Shareholders’ Rights and Equity Transfer System "

Read the original text

The heart is one of the most important organs for us, and its existence and health affect our body and life.
There may be many problems in the heart, among which heart failure often makes people talk about it. Heart failure is the abbreviation of heart failure, which refers to serious cardiac insufficiency, that is, the systolic and/or diastolic function of the heart is impaired. It is not a disease, but an abnormal state that affects the whole body, which is caused by the gradual progress and aggravation of other primary heart diseases, resulting in the loss of compensatory ability of cardiac function, which leads to the inability of the heart to bear the normal physiological blood pumping demand. Heart failure is a state, belonging to a kind of organ failure, which is formed based on the gradual aggravation of some heart diseases themselves, and is often the end-stage manifestation of heart disease. Can be acute onset, chronic development, but also divided into left heart failure, right heart failure and heart failure.

There are many causes of heart failure. Infection: viral myocarditis, infective endocarditis, etc. Myocardial ischemia or pathological changes: severe coronary heart disease, dilated cardiomyopathy, etc. The structure of the heart is abnormal: complex congenital heart disease, long-term heart valve disease and so on. Almost all cardiovascular diseases, even improper drugs and excessive mood fluctuations may lead to heart failure.

Heart failure will have different manifestations according to the priority: acute heart failure is dangerous, with typical sitting breathing and obvious symptoms; Chronic heart failure often has no characteristic manifestations at first, and it is often labor-induced dyspnea at first. When it is seen in mild physical labor, it has obvious dyspnea and palpitation discomfort, and then it will suddenly wake up and have difficulty breathing during quiet sleep at night. Left heart failure is characterized by decreased activity ability and even inability to complete daily self-care; Right heart failure often has depressed edema of the lower limbs, mostly located in the ankle. After pressing with fingers, the swollen skin will not rebound immediately, and a small depression will appear. This is because of poor blood return caused by cardiac insufficiency.

Heart failure is the process of heart disease progression and the manifestation of the end stage of the heart. Whether it is terrible depends on the primary disease and the degree of progress. Acute heart failure, like viral myocarditis, is often very dangerous, and it will be life-threatening if it is not treated in time. As long as chronic heart failure is treated as early as possible, those patients with mild or moderate heart failure can still get a better prognosis. As for the popular saying that "patients with heart failure can only live for five years, which is more terrible than cancer", there is no such saying. Early detection, early intervention and treatment of heart failure can still achieve a better prognosis. With the development of medicine, many measures to treat end-stage heart failure, such as heart transplantation, artificial heart and ventricular assist, are being applied in clinic, which will greatly improve the long-term survival rate of patients with heart failure.

So, how to reduce the risk of heart failure? Except for a few diseases that cannot be treated at present, such as dilated cardiomyopathy, in most cases, as long as they are treated in time, they will not develop into heart failure. Therefore, active treatment of primary heart disease is the primary means to improve the prognosis of patients. Patients with heart failure need to treat primary heart disease first. At this time, patients often have a serious primary disease, so standardized treatment is more needed. In addition, we should pay attention to the following aspects: avoiding colds and preventing infections; Pay attention to diet, water and sodium retention in patients with heart failure can alleviate the above symptoms by reducing sodium intake; Control the amount of drinking water and monitor the inflow and outflow. If the long-term inflow is greater than the outflow, the heart burden will be heavier and heart failure will be aggravated. Pay attention to rest and avoid overwork; Patients with heart failure can be properly treated with diuresis, but diuresis also needs to monitor electrolytes and maintain electrolyte balance, especially potassium ions; Regular follow-up, do not adjust drugs without authorization; If you have obvious symptoms such as chest tightness, breath holding, and inability to lie flat, see a doctor in time.

　　A rare COVID-19 epidemic is raging around the world. The epidemic is the common enemy of all mankind, and unity and cooperation are the most powerful weapons and the only correct choice for the international community to overcome the epidemic. Anti-epidemic materials rushed to the international friendship city, doctors and experts went overseas to support, and cross-border connections shared anti-epidemic experience. Greater Bay Area’s strength in the global fight against epidemic, Guangzhou is in action.

　　01Epidemic prevention materials rushed to the international friendship city

　　Help each other in the same boat. Since the global outbreak of COVID-19, Guangzhou has actively organized epidemic prevention materials to help dozens of cities in more than a dozen countries.

　　Liu Baochun, director of the Foreign Affairs Office of the Guangzhou Municipal Government, said: "When there were epidemics in other countries in the world, we immediately extended a helping hand. We have issued three batches of materials, covering almost 40 cities, and some belong to corresponding international organizations. "

　　02Share Guangzhou’s anti-epidemic experience with the world

　　Guangzhou has been invited to attend online seminars on international epidemic prevention and control experience held by UN-Habitat, World Cities and Cities Organization, world association of major metropolises, C40 Urban Climate Leadership Alliance and World Cities and Cities Organization Asia Pacific for many times, and introduced Guangzhou’s epidemic prevention experience in detail in four seminars, vividly telling the epidemic prevention story in Guangzhou and accurately responding to foreign concerns and needs.

　　Tang Xiaoping, director of the Guangzhou Municipal Health and Wellness Committee, has participated in two sharing sessions: "I want to contribute our Chinese plan, or Guangzhou plan and Guangzhou wisdom through such video exchange. I think it is also very meaningful."

　　03 doctors and experts go overseas to support

　　A Chinese medical expert group sent by the Red Cross Society of China arrived in Baghdad International Airport from Guangzhou on the evening of March 7 to assist in the prevention and control of COVID-19 epidemic in Iraq. The expert group consists of seven experts, two of whom are outstanding backbones selected by the First Affiliated Hospital of Guangzhou Medical University.

　　Huang Kunjin, president of the First Affiliated Hospital of Guangzhou Medical University, said: "In addition to the test of epidemic situation, Iraq is also facing the test of personal safety. The two doctors showed great composure and confidence in their work. They helped the local people and the local government by introducing China’s prevention and control experience. "

　　04"Made in Guangzhou" helps the global fight against epidemic.

　　"Made in Guangzhou" epidemic prevention materials and testing reagents actively help the international anti-epidemic. Among them, Guangzhou Wanfu Biotechnology Co., Ltd. and Daan Gene Co., Ltd. donated or provided more than 100,000 test kits to Kyrgyzstan and Iraq.

　　The Red Cross Society of China donated a set of nucleic acid detection laboratory equipment to Iraq, which was provided by Sun Yat-sen University Daan Gene Co., Ltd.. Chairman He Yunshao said: "Not only reagents for 50,000 people have been prepared, but also nucleic acid detection instruments, extraction instruments and a complete set of laboratory equipment. There are more than 100 boxes, weighing about 3 tons."

　　Wanfu Bio is one of the first batch of diagnostic reagent manufacturers with "zero defect" approved by FDA in the United States. The three novel coronavirus detection products independently developed by Wanfu Bio have obtained CE certification issued by the European Union, which can meet the needs of rapid detection and prevention of epidemic situation in various countries.

　　Kang Keren, senior vice president of Guangzhou Wanfu Biotechnology Co., Ltd. said: "As of April 19, our products with more than 18 million people have been urgently sent to more than 70 countries and regions around the world. We are doing our best to help the country and the world fight the epidemic together. "

　　In Huangpu District, Guangzhou, where Wanfu Bio and Daan Gene are located, the Customs took the initiative to open a green channel to "accelerate" the export of foreign aid materials.

　　Li Hong, head of the Biosafety Supervision Section of the Health and Quarantine Department of Huangpu Customs, said: "At present, 68 batches of foreign aid reagents and 3.7 million people have been approved at an accelerated pace, with zero distance, full process and online approval, and the approval time has been shortened to one working day. From March to now, our approval volume has tripled. "

　　The epidemic is still spreading around the world, and global efforts to fight the epidemic continue.

　　As Academician Zhong Nanshan said, all people should unite as one world and fight against the epidemic together. For the sake of the community of human destiny, "epidemic" is obligatory!

　　Welcome to continue to pay attention

　　The Voice of Greater Bay Area, together with the media in various cities in the Bay Area, planned and produced a series of media-integrated programs, each focusing on one city and telling the story of Greater Bay Area’s participation in international anti-epidemic cooperation.

　　Planning: Chen Jiaqi, Chen Xing

　　Editor: Chen Xing Zitong

　　Coordinator: Wan Zuyan, Li Ran and Deng Luyu

　　Editor: Wen Chaorong

　　Reporter: Zheng Yun Pang Xiaolu

　　Camera: Liang Cuijin and Huang Binqiang

　　Video Packaging: zhaojie Wu Zhiqing Liu Xiawei

　　CCTV News:According to the website of the Ministry of Commerce, recently, seven departments including the Ministry of Commerce, the Development and Reform Commission, the Ministry of Finance, the General Administration of Customs, the State Administration of Taxation, the General Administration of Market Supervision, and the Foreign Exchange Bureau jointly issued the Letter on Accelerating the Pilot Work of Market Procurement Trade Mode, in order to implement the deployment of the the State Council executive meeting, develop new foreign trade formats, and foster new growth momentum, and set up eight new market procurement trade mode pilots.

　　The newly established pilot projects are: Tianjin Wang Lan Zhuang International Trade City, Hebei Tangshan International Trade Center, Jilin Hunchun Northeast Asia International Commodity City, Heilongjiang suifenhe city Qingyun Market, Jiangxi Jingdezhen Ceramic Trade Market, Chongqing Dazu Longshui Hardware Market, Xinjiang Alashankou Asia-Europe Commodity City, Xinjiang Urumqi Frontier Hotel Trade Market.

　　Previously, seven departments, including the Ministry of Commerce, had set up 31 pilot market procurement trade modes nationwide, and built a supervision system of "one demarcation, three filing and one networking", with supporting policies such as simplified declaration and non-refundable VAT exemption. The development of market procurement trade has achieved positive results.

　　In the next step, the Ministry of Commerce, together with other departments, will guide the newly established pilots to speed up the introduction of implementation plans, build a networked information platform, implement supporting policies, continuously improve the level of trade facilitation, promote the sustained and healthy development of market procurement trade, and help foreign trade maintain stability and improve quality.

　　(1)

　　Facing difficulties and overcoming difficulties, in 2022, we persisted in striving for progress in stability, promoted high-quality development, and made solid steps in the new journey of building a socialist modern country in an all-round way, and China’s overall economic and social situation remained stable.

　　When the 20th CPC The Politburo Standing Committee (PSC) met with Chinese and foreign journalists, General Secretary of the Supreme Leader emphasized: "Now, China has strong economic resilience, sufficient potential and wide room for maneuver, and its long-term positive fundamentals will not change."

　　The fifth China International Import Expo, which closed on November 10, wrote a vivid footnote: the intended turnover for one year was 73.52 billion US dollars. Against the background that the world has undergone great changes in the past century and the momentum of world economic recovery is insufficient, China International Import Expo(CIIE), which is getting better and better, has shown the world China’s sincerity in actively opening up and sharing development opportunities with other countries, and has also injected new and powerful kinetic energy into global economic development.

　　In today’s world, the changes in the past century are intertwined with the epidemic in the century, but the times and the situation are on our side. This is where our determination and confidence lie, as well as our determination and confidence.

　　As the momentum builds up, the great ship China is declaring that the economic development prospect of China will be brighter!

　　(2)

　　At present, the change of the world, the change of the times and the change of history are unfolding in an unprecedented way, which poses challenges to mankind that must be taken seriously.

　　Looking around the world, the COVID-19 epidemic is superimposed with the Ukrainian crisis, and the world economy is entering a stage of high inflation, high interest rate, high debt, high cost and low growth, with heavy haze hanging over the world.

　　Throughout the country, the triple pressure of demand contraction, supply shock and expected weakening continues to appear, and unexpected factors have brought serious impact. Since this year, the downward pressure on the economy has increased significantly.

　　— — In the face of the big exam, the whole country calmly responded and kept pace, stabilizing the macro-economic market.

　　"The familiar Shanghai is back!" On June 1, 2022, after two months of static management, Shanghai fully resumed normal production and living order. Ships shuttle on the Huangpu River, machines roar in the production workshop, and lights are brightly lit in the office building. People are determined to "get back the lost time".

　　The General Secretary of the Supreme Leader stressed: "We must maintain strategic strength, persist in striving for stability, make overall plans for epidemic prevention and control and economic and social development, take more effective measures, strive to achieve the greatest prevention and control effect at the least cost, and minimize the impact of the epidemic on economic and social development."

　　From putting forward the "five necessary ways" to explaining the "five strategic advantages"; From a clear "food security is ‘ The big country ’ " , to the requirements of "consolidating the domestic energy production base and ensuring the safety of coal supply"; From emphasizing that "the epidemic should be prevented, the economy should be stabilized, and development should be safe", to exhorting "to support the people’s life and well-being" … … The General Secretary of the Supreme Leader is far-sighted and judges the situation, leading the whole party and people of all nationalities to work together and overcome difficulties. Thirty-three policies were issued to focus on stabilizing the economy, speeding up the construction of a unified national market, implementing the full tax refund for stocks and increments, and doing a good job in releasing urban and rural grassroots jobs for college graduates … … Under the strong leadership of the CPC Central Committee with the Supreme Leader as the core, all localities, departments and all aspects have effectively coordinated epidemic prevention and control and economic and social development, coordinated development and safety, adhered to the principle of "keeping the word steady, striving for progress while maintaining stability", combined phased measures with institutional arrangements, inclusive and fair support and cooperation, and made concerted efforts, precise and powerful, forming a joint force. China’s overall economic recovery is improving, and people’s livelihood security is strong and effective.

　　The most fundamental reason why China’s economy, which has gone through rapids, dangerous waves, and difficulties, has stood firm in the storm and risen in adversity lies in the strong leadership of the CPC Central Committee with the Supreme Leader as the core and the scientific guidance of the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era.

　　— — Facing the stress test, China’s economy has stood the test, making progress in stability, with a more solid foundation and stronger momentum for progress.

　　Observing China’s economy depends not only on the "shape" of data changes, but also on the "potential" of development savings; We should not only look at the "table" of short-term profit and loss, but also look at the "inside" of endogenous power.

　　Objectively speaking, the "stability" of China’s economy has not changed, the main indicators are generally improving, and international comparison adds more confidence. We overcame the rare autumn rain and flood in the north last year, the late sowing of winter wheat in a large area, and the local COVID-19 epidemic, responded to the challenge of severe high temperature and drought in the south, and promoted the increase of summer grain production by 2.87 billion Jin and early rice production by 210 million Jin, with a bumper harvest in autumn and a more stable agricultural base. China’s largest liquefied natural gas reserve base has been put into production, and a shale gas field exceeding 100 billion cubic meters has been newly discovered in Sichuan Basin. The annual output of crude oil in Tarim Oilfield has reached a record high. In the tight global energy supply environment, China’s unified dispatching power plants keep the coal storage at more than 170 million tons, the refined oil inventories of major oil and gas enterprises keep high operation, and the natural gas storage tanks are at a high level. When the inflation level in the United States and Europe broke the historical record, consumer prices in China rose by 2.0% year-on-year in the first three quarters of this year, and prices remained generally stable. Coordinate development and safety, strike at the key time, and exert strength at the important harm. We have consolidated the foundation of food security in all directions, achieved a safe and stable supply of energy, and achieved positive economic growth against pressure.

　　Dialectically, although the "surface" of China’s economy has suffered losses, its impact is staged, short-term and external, and it has not hurt the root of endogenous power. Up to now, the cumulative number of confirmed cases in COVID-19 has exceeded 640 million, including 6.62 million deaths. China is the country with the lowest incidence and the least number of deaths in COVID-19 among the major countries in the world. The epidemic will inevitably have an impact on economic operation, but with the foundation of "people’s health and safety", we can better achieve the goals of economic growth, cultural prosperity and social stability. The latest data shows that in October, the added value of industrial enterprises above designated size increased by 5.0% year-on-year, 0.2 percentage points faster than that in the third quarter; In the first 10 months, China’s total import and export value of general trade increased by 13.3% year-on-year, maintaining double-digit growth; In the third quarter, GDP increased by 3.9% year-on-year, 3.5 percentage points faster than that in the second quarter, and the foundation of stabilization and upward has been continuously consolidated.

　　On the whole, China’s economic "progress" momentum is abundant, and its high-quality development is fast and steady. Shenzhou XV was successfully launched, "Chang ‘e IV" grazed the stars and plowed the moon, "Tianzhou V" was delivered in space, "Deep Sea No.1" was brightly lit day and night, and "Struggler" dived 10,000 meters deep, making great powers innovate and develop, bravely climb the peak, and concentrating on the "advance" of power conversion; In the third quarter, the growth rate of added value of high-tech manufacturing industry was 1.9 percentage points higher than that of national regulated industries, the output of new energy vehicles increased by 1.13 times year-on-year, which was 20.8 percentage points faster than that of the second quarter. The new technology, new products and new formats continued to grow. In the first ten months, the profit growth rate of equipment manufacturing industry was 2.6 percentage points faster than that of January to September, which showed the "progress" of industrial upgrading. In the first three quarters, the per capita disposable income of the national residents actually increased by 3.2%, 0.2 percentage points faster than that in the first half of the year, and the per capita income ratio of urban and rural residents decreased compared with the same period of last year, showing the improvement of people’s livelihood.

　　The greater the difficulties and challenges, the stronger the cohesion and combat effectiveness. Practice shows that development may fluctuate for a while, but short-term shocks will not change the long-term trend. From the incremental scale and trade scale to the contribution to poverty reduction and carbon reduction, today’s China economy has steadily improved its development quality, achieved fruitful scientific and technological innovations, comprehensively deepened its reform and opening up, and basically stabilized its employment price. It is still the "ballast stone" for world economic growth, the "engine" for global innovation and prosperity, and the "booster" for win-win cooperation among countries.

　　Based on the current situation and long-term perspective, we are full of confidence that China will surely usher in a brighter development prospect: the fundamentals of China’s long-term economic development have not changed!

　　"If you struggle hard, you must catch the fish." With the constant development and the trend of the times, there are sufficient supporting conditions for the stable, healthy and sustainable development of China’s economy, and we are setting sail with determination.

　　(3)

　　Magnificent practice often contains learning from the past and following it.

　　Looking back, China’s economy was tested by floods, earthquakes and SARS, and faced with the challenges of financial crisis and economic and trade frictions. At present, under the unprecedented triple pressure, China’s economy is responding with "stability", recovering well, stabilizing with "progress", rising from the joint, and making progress steadily.

　　Why has China’s economy always been able to take risks, turn crises into opportunities, and grow stronger after storms?

　　"China’s economy is a sea, not a small pond." The words of the Supreme Leader’s General Secretary are forceful. "A storm can overturn a small pond, but it cannot overturn the sea. After countless storms, the sea is still there! "

　　This is China’s economy, with spectacular volume and great potential. With a total economic output of over 114 trillion yuan, it can be called a giant ship in the sea of the world economy, with deep water and stable navigation. With a population of more than 1.4 billion, a labor force of more than 900 million, a total of 220 million human resources, and an urbanization rate of 64.7% of the permanent population, such a large-scale market capacity, such a thick talent bonus and such a broad investment space have formed a huge "magnet effect". BMW Group Shenyang Lida Factory was put into production, Novo Nordisk increased its capital and expanded its production for the eighth time in Tianjin, and Panasonic Group transferred more business segments such as cold chain equipment production and sales to China … … The Financial Times reported that a number of international investment banks are pushing ahead with ambitious business expansion plans, and their strategies will not be changed due to the current COVID-19 epidemic.

　　This is China’s economy, which is self-healing and resilient. In 2021, Hubei’s total economic output reached 5 trillion yuan, returning to the seventh place in the country, and set out to accelerate. In March of this year, it took less than 10 days for Shenzhen to press the "slow button" and the supply chain of the industrial chain to return to the market steadily. From the field to the workshop, from the inland to the seashore, the hot "Created in China" lifts the famous "Made in China". In the face of difficulties, China’s economy shows strong supply capacity, adaptability and repair capacity. The world’s most complete industrial system is interlocking and upgrading side by side. The world’s largest online retail market continues to expand and innovate. More than 160 million market players are eager to develop, and China’s economy continues to grow under the storms.

　　This is China’s economy, with vigorous pulse and strong vitality. This is a hot spot for entrepreneurship with an average of 24,800 new enterprises set up every day and more than one million overseas students returning to China for innovation and entrepreneurship. It is a big consumer country with an average daily investment of nearly 300 million pieces of express delivery and an annual online retail sales of about 13.1 trillion yuan; This year, R&D investment was the second highest in the world. Deepening the supply-side structural reform, China has strengthened its vitality in solving difficult problems and planted advantages in narrowing the gap, which is forming a powerful endogenous driving force for demand to pull supply and supply to create demand.

　　This is China’s economy, with a wide space for maneuver. The advantage of a big country’s economy is that it is internally recyclable. Looking at consumption, the world’s most populous country, with a per capita GDP of over 12,000 US dollars, is the most potential consumer market in the world. Looking at investment, the world’s largest developing country is in the stage of rapid development of new industrialization, informationization, urbanization and agricultural modernization, and the per capita infrastructure stock is only equivalent to 20% to 30% of that of developed countries. Shortboards contain opportunities and weaknesses, as well as potential and potential energy. Firmly grasping the strategic base point of expanding domestic demand, the "East Counting and West Counting" project achieved a total investment of more than 400 billion yuan in half a year, and strengthened the construction of county commerce to push the online retail sales of agricultural products to exceed 422 billion yuan last year. In the first ten months of this year, a total of 24,000 new water conservancy projects were started nationwide, with an additional investment of 1.5 trillion yuan. The investment in fixed assets of highway and waterway transportation was 2,466.5 billion yuan, a year-on-year increase of 9.5%. Accelerating the construction of a new development pattern provides us with a broad room for manoeuvre, an important way to achieve a long-term balance between steady growth and risk prevention, and a strategic layout and a first move to grasp the initiative of future development.

　　This is China’s economy, with many precise tools for regulation. In the new era, we have constantly innovated and improved macro-control, gained valuable experience, and formed a complete macro-control system that combines government and market, short-term and medium-and long-term integration, cross-cycle and countercyclical integration, aggregate and structure integration, domestic and international overall planning, and coordinated reform and development. We insist on not flooding, and even when the epidemic hit the hardest in 2020, we didn’t overspend. Although the adjustment of macro-control policies has been strengthened since this year, the deficit ratio of our government is low, the debt is generally controllable, and there are many tools in the policy toolbox. The policy effects such as the introduction of fiscal and financial policies in the early stage to support major project construction and equipment renovation are emerging. At present, two batches of financial instruments support more than 2,700 major projects, and the operating rate exceeds 90%. The steady growth policy is expected to be further effective.

　　Looking at the essence through the phenomenon and jumping out of a domain to see the overall situation, although we have suffered short-term shocks, China’s complete industrial system, strong production capacity and super-large-scale market advantages still exist. Helge Berger, assistant director of the Asia-Pacific Department of the International Monetary Fund and head of China affairs, said with emotion: "China’s economy has sufficient resilience and potential, and China’s government also has sufficient policy space to promote economic growth. As China continues to promote high-quality economic development, the resilience of China’s economy will be further enhanced. "

　　Based on the micro, looking at the macro, we are full of confidence, and China will surely usher in a brighter development prospect: the basic characteristics of China, such as sufficient economic potential, great resilience, strong vitality, large room for maneuver and many policy tools, have not changed.

　　"Although the destruction is more and more intense, it will fight for the spring with heaven and earth." The more frustrated and brave, the harder it is to make progress. China’s development has a more solid material foundation and a more perfect system guarantee. We are confident to follow our own path and do our own thing well, and no difficulty can stop our progress. As General Secretary of the Supreme Leader pointed out: "After more than 5,000 years of hardships, China is still here! Facing the future, China will always be here! "

　　(4)

　　When a great river rushes to the sea, there will always be a countercurrent, but no countercurrent can stop river of no return. Power helps it move forward, and resistance makes it strong.

　　Standing on a longer time axis, the rise of a big country will inevitably go through a ditch. However, the "ditch" and "hurdle" can’t influence the "time" and "potential" of the development of things. The key is to maintain strategic strength and historical patience, and insist that the castle peak will not relax and move forward rain or shine.

　　Report to the 20th CPC National Congress of the Party pointed out that from now on, the central task of the Communist Party of China (CPC) is to unite and lead the people of all ethnic groups in China to build a socialist modernization power in an all-round way, realize the goal of the second century, and comprehensively promote the great rejuvenation of the Chinese nation with Chinese modernization.

　　"High-quality development is the primary task of building a socialist modern country in an all-round way. Development is the top priority of the party in governing and rejuvenating the country. " General Secretary of the Supreme Leader emphasized in the Party’s Report to the 20th CPC National Congress.

　　Central task, primary task, first priority. Development is in an extremely important position in the new era and new journey. Without a solid material and technological foundation, it is impossible to build a socialist modernization power in an all-round way.

　　Development must be high-quality development. We must implement the new development concept completely, accurately and comprehensively, adhere to the direction of socialist market economy reform, adhere to high-level opening up, and accelerate the construction of a new development pattern with the domestic big cycle as the main body and the domestic and international double cycles promoting each other.

　　Looking at China, the new development concept is deeply rooted in the hearts of the people, the new development pattern is accelerated, and the high-quality development is reverberating. The China economy in the new era shows a brighter prospect.

　　Today, China is an innovative and dynamic generate. In the past ten years, China’s R&D investment intensity has increased from 1.91% to 2.44%, and the ranking of global innovation index has risen from 34th to 11th (in 2022). The number of patent applications received by the European Patent Office alone has increased fourfold, and frontier fields such as manned space flight, deep-sea exploration and quantum information are galloping, and emerging technologies such as supercomputers, new energy technologies and biomedicine are "application fields". … Self-reliance in science and technology is the foundation of national prosperity and the key to security. Taking innovation as the first driving force to lead development, putting scientific and technological innovation at the core of the overall development of the country, and giving full play to the advantages of the new national system, every city, every scientific and technological enterprise and every scientific researcher are making strenuous efforts to catch up and swear to firmly hold the lifeline of science and technology in their own hands. As the British "Economist" weekly website reported: "China’s strategy can be understood as a major judgment, that is, China will become a world innovation center in the next decade."

　　In today’s China, the pace of coordinated development is sonorous. In the past ten years, China’s urbanization rate has increased from 53.1% to 64.7%, and the ratio of per capita disposable income of urban and rural residents has decreased from 2.88∶1 to 2.5∶1. Since the beginning of this year, the "annual task list" has been comprehensively promoted for rural revitalization, and the "road map for action" has been laid out to speed up the construction of a unified national market. The coordinated development of Beijing, Tianjin and Hebei has seized the "bull’s nose", and the integrated development of the Yangtze River Delta has entered the "fast lane", and Guangdong-Hong Kong-Macao Greater Bay Area’s construction has won "new benefits" … … Pay close attention to the outstanding problem of insufficient unbalanced development, strengthen the top-level design and pay attention to system promotion. The flower of coordination of "different petals but concentric petals" blooms every second, and the unbalanced and insufficient "development gap" condenses into "catching up potential energy".

　　In China today, the background of green development is bright. Environmental protection inspectors continue to shine their swords, and the goal of "double carbon" is deeply rooted in the hearts of the people. The Yangtze River has built the world’s largest clean energy corridor, and the Helan Mountain has built the northwest ecological barrier. In the past ten years, the carbon dioxide emissions per unit of GDP have decreased by about 34%, and the installed capacity of "green electricity" such as wind power and photovoltaic power generation and the production and sales of new energy vehicles rank first in the world … … Do a good job in the construction of ecological civilization, which is a fundamental plan related to the sustainable development of the Chinese nation, and constantly solve the problem of harmony between man and nature, and the "Lucid waters and lush mountains are invaluable assets" is being transformed into vivid practice. Green is the beauty of cities, the prosperity of industries and the prosperity of villages. Green has become a bright background for high-quality development.

　　Today, China has a higher level of open development. In 2013, the first Pilot Free Trade Zone was established in Shanghai. Today, 21 pilot free trade zones are less than 4‰ China’s land area has contributed 17.3% of the country’s import and export volume, absorbed 18.5% of the country’s foreign capital, and replicated and promoted 278 institutional innovations to the whole country or specific regions. Not only the development of the free trade zone, but also the construction of the Hainan Free Trade Port is changing with each passing day. The negative list of foreign investment access is getting shorter and shorter. China International Import Expo(CIIE), the Service Trade Fair, the Canton Fair and the Consumer Expo are all staged, and the "One Belt, One Road" with high quality is wonderful … … Regardless of changes in the external environment, China’s confidence and will in reform and opening up remain unchanged. We have built a series of new highlands and experimental fields for opening to the outside world, forming a new pattern of all-round and high-level opening to the outside world. With the continuous release of the opening magnetic force, China will continue to be one of the most attractive foreign investment destinations in the world.

　　Today, China has achieved fruitful results in sharing development. We have historically solved the problem of absolute poverty that has plagued the Chinese nation for thousands of years, and nearly 100 million rural poor people have all been lifted out of poverty; The world’s largest education system, social security system and medical and health system have been built. In the past ten years, the average life expectancy has increased from 75.4 years to 78.2 years, and the proportion of middle-income groups has increased from about 1/4 to about 1/3. People’s wallets are bulging and life is beautiful. Development is for the people, glory belongs to the people and strength comes from the people. Tens of thousands of people in Qian Qian, including Zhang Guimei, Huang Dafa, Li Huanying and He Zhongqiang, are writing their initial thoughts on the precipice of the mountains, on the isolated island and desert, and on the vast land of the motherland. A small stream makes a river and a sea, and a long journey makes a thousand miles. A small victory makes a great victory, and it is successful year after year. The confidence and support of the people are the strength of our country’s forge ahead.

　　Looking at the overall situation, the fundamentals of China’s healthy and stable economic development are still there, and the conditions of production factors supporting high-quality development are still there. As Magit molnar, director of the China Economic Policy Research Office of the Organization for Economic Cooperation and Development, said, "We have every reason to believe that with the gradual control of the epidemic, China’s economy will quickly get rid of the pain and its development prospects can be expected."

　　Looking forward to the future, we are full of confidence, and China will surely have a brighter development prospect: the general trend of high-quality development in China has not changed.

　　"The eyes are full of vitality, and the workers are striving for new things every day." Adhere to the general tone of striving for progress while maintaining stability, make overall plans for development and safety, actively recognize changes and seek changes, proactively prevent and resolve risks, constantly enhance strategic strength, anti-pressure ability and competitive strength, and constantly enhance China’s development independence, autonomy and security, foster opportunities in the crisis and open up new opportunities in the changing situation. China will always develop vigorously!

　　(5)

　　The road of history is not entirely smooth, and sometimes it comes to the realm of difficulties and obstacles, which can only be crossed by the heroic spirit.

　　Perseverance, facing difficulties, daring to win can also win. The great historical initiative is our courage and strength to anchor our established goals and move forward in high spirits.

　　After an extraordinary decade, the people of China have become more motivated, more enterprising, more determined to win, and have a stronger historical consciousness and initiative. The people of the Communist Party of China (CPC) and China are advancing the great leap of the Chinese nation from standing up, becoming rich and becoming strong with confidence.

　　In the vast farmland, farmers cultivate and agricultural machinery gallop, and the grain harvest is achieved throughout the year; Between the mountains and deep valleys, bridge cranes swing their arms and machinery roar, and more physical objects are forming … … Everyone is the cornerstone, building the indestructible Great Wall of steel in the motherland; Everyone is a wave, which has merged into a mighty river of the motherland; Hundreds of millions of strugglers and dream catchers are gathering the deepest and greatest dream-building power in the world.

　　The new era is the era of strugglers. I will work hard by every "I", and I will do my best if my motherland needs it!

　　The new journey is a dream catcher’s journey. Every "you" will create miracles, live up to the times, live up to the people, devote yourself to forge ahead, and the dream will surely blossom!

　　The 20th National Congress of the Communist Party of China has formulated the major policies of the Party and the country at present and in the future, and sounded the horn of endeavor for building a socialist modern country in an all-round way and promoting the great rejuvenation of the Chinese nation in an all-round way. Striving for a new journey full of glory and dreams, let us unite more closely around the CPC Central Committee with the Supreme Leader as the core, fully implement Socialism with Chinese characteristics Thought of the Supreme Leader in the new era, deeply understand the decisive significance of "two establishment", strengthen "four consciousnesses", strengthen "four self-confidences", achieve "two maintenance", keep in mind "three musts", strengthen historical self-confidence, enhance historical initiative, and increase our strength through hard work. Tap the potential in reform and innovation, open up new opportunities in positive progress, overcome all kinds of difficulties and challenges on the road ahead, work together to promote China’s economic giant to ride the wind and waves, make steady progress, and create new miracles that are impressive with new great struggles! (Ren Ping)

　　Cctv newsAccording to the website of the National Bureau of Statistics, the latest data of the National Bureau of Statistics show that in 2022, the total social research and experimental development (R&D) funds in China will continue to maintain double-digit growth, and the total investment will reach a new level of 3 trillion yuan; The investment intensity of R&D funds increased rapidly, reaching a new height of 2.5%.

　　1. R&D funds grew steadily, exceeding 3 trillion yuan for the first time.

　　In 2022, due to multiple unexpected factors, the R&D activities of the whole society were affected to some extent. However, the policy of adding and deducting R&D expenses of enterprises continued to increase, and the mechanism of scientific and technological awards and incentives continued to improve, effectively stimulating the innovation vitality of market players, and the R&D investment of enterprises still maintained double-digit growth, driving the total R&D investment of the whole society to a new level. According to preliminary calculations, in 2022, China’s R&D investment reached 3,087 billion yuan, which exceeded the 3 trillion mark for the first time, up by 10.4% over the previous year, and has maintained double-digit growth for seven consecutive years since the Thirteenth Five-Year Plan. Calculated at constant prices, R&D expenditure increased by 8.0%[1], which was higher than the target of "the total social R&D expenditure increased by more than 7% annually" in the Tenth Five-Year Plan.

　　Second, the investment intensity increased rapidly, reaching a new level of more than 2.5%.

　　According to preliminary estimates, in 2022, the investment intensity of R&D funds (the ratio of R&D funds to GDP) in China reached 2.55%, reaching a new high, with an increase of 0.12 percentage points over the previous year [2], which was significantly higher than the average annual growth rate (0.07 percentage points) since the Thirteenth Five-Year Plan, and achieved rapid improvement. From the international comparison [3], China’s R&D expenditure intensity ranks 12th among the major countries in the world, surpassing innovative countries such as France (2.35%) and the Netherlands (2.32%), and further approaching the average level of OECD countries (2.67%). According to the Global Innovation Index (GII) released by the World Intellectual Property Organization in 2022, China’s scientific and technological innovation performance ranked 11th among 132 economies, up one place from the previous year. Since 2013, China’s ranking has increased by 24 places, and it has maintained a steady upward trend for 10 consecutive years.

　　Third, basic research has maintained growth and new breakthroughs have been made in original innovation.

　　According to preliminary calculations, in 2022, China’s basic research expenditure was 195.1 billion yuan, an increase of 7.4% over the previous year; The proportion of R&D funds was 6.32%, down 0.18 percentage points from the previous year, but it was still at the second highest level in history, and remained above 6% for four consecutive years, which played a positive role in the continuous improvement of China’s original innovation capability. The state attaches great importance to basic research. In 2022, the expenditure on basic research in the budget of the central government at the corresponding level increased by 7% compared with the previous year. The construction of national laboratories and the reorganization of national key laboratories were accelerated, and the research center for basic disciplines was started. A series of new major breakthroughs were made, such as the national major scientific and technological infrastructure "steady-state strong magnetic field experimental device" to create a steady-state strong magnetic field with a field strength of 452,200 gauss.

　　Despite the multiple adverse factors, China’s R&D investment continues to grow steadily, which has injected great vitality into innovation and development. However, we should also see that there is still a big gap between us and the requirements of accelerating the construction of a strong country in science and technology and realizing self-reliance and self-improvement in high-level science and technology. In the next step, we should fully implement the spirit of the 20th Party Congress, adhere to the orientation of self-reliance and self-improvement in science and technology policies, encourage and guide all parties to increase investment in R&D, especially in original innovation, and strive to promote the transformation of R&D investment from "big" to "strong", so as to provide strong support for the construction of a strong country in science and technology.

　　Note:

　　[1] Except here, the growth rate of other indicators in this paper is the current price growth rate.

　　[2] According to the final revision of GDP in 2021 by the National Bureau of Statistics, the investment intensity of R&D funds in 2021 was correspondingly revised to 2.43%.

　　[3] International comparative data comes from https://data.oecd.org, the official website database of the Organization for Economic Cooperation and Development (OECD), and the latest data is 2020.

　　"Too many American farmers are unhappy, and as the dispute persists, more people are confused about the future." A former congressman from Iowa wrote this at the beginning of his letter to the China media "Shanghai Daily".

　　On June 17th, Shanghai Daily published an in-depth English report by Xinhua News Agency, entitled "Floods and US-China Trade Disputes Bring Disastrous Disastrous by Historical Floods". The article objectively reflects natural disasters and trade disputes, especially the disasters brought by the latter to American farmers. The article mentioned that since the end of March this year, the continuous floods in the midwest of the United States have made local farmers complain. Blake Hurst, president of Missouri Farmers’ Association, said that such a large-scale serious flood that swept across the central and western regions had never happened in his memory of farming for more than 40 years. In addition to natural disasters, the trade dispute with China provoked by the US government has further aggravated the plight of farmers in the Midwest of the United States. Trade disputes have caused a sharp decline in US soybean exports to China, lower soybean prices, greatly reduced farmers’ income, and many farmers are facing economic difficulties. Although the U.S. government launched a subsidy assistance program of $12 billion last year and $16 billion this year, the affected farmers told reporters that they wanted a stable market more than subsidies.

　　Shortly after the article was published, Shanghai Daily received a letter from Greg Cusack, a former representative of Iowa. Kusak said in his letter: "Too many American farmers are unhappy, and as the dispute persists, more people are confused about the future."

　　Kusak pointed out that because "Republicans are used to making a fuss about a single political issue, throwing salt at the wound and the rural areas where the Democratic Party depends on are dying day by day", American farmers feel quite helpless and have no choice. The Democratic Party is far from finding a package solution for agriculture or rural areas, which makes the situation even worse.

　　Kusak also said in his letter that Xinhua News Agency and other related articles published by Shanghai Daily reported on American farmers and other issues extensively and were in line with the facts. In contrast, some American media reports on domestic and foreign news in the United States are very lacking, which is far from meeting the needs of even readers with general knowledge background.

　　In his letter, he also described various manifestations of the increasingly divided American society, and pointed out: "I think the Shanghai Daily is very extensive in reporting these topics of concern, and I hope your newspaper will continue to report these problems in the United States, despite the current trade friction between the United States and China. These problems show that American society is in a dilemma. They include: high student debt (which is also high after graduation), stagnant wages, widening wealth gap and rural difficulties. "

　　This is not the first time that Kusak has written to Shanghai Daily. Wang Yong, deputy editor-in-chief of Shanghai Daily, told The Paper (www.thepaper.cn) that after reading the in-depth comments on Shanghai’s construction of beautiful countryside published by Shanghai Daily, Kusak wrote a special letter praising China’s great efforts to revitalize the countryside under the leadership of the Supreme Leader General Secretary, and pointed out that the support of the two parties in the United States to the countryside was lip service, which led to the decline of American agriculture and rural life. His letter was also published in the commentary section of Shanghai Daily.

　　Kusak was a representative of Iowa, and one of his main tasks was to revitalize rural areas and agriculture in the United States.

　　Wang Yong told The Paper that Kusak has repeatedly supported China’s just position on major issues, such as the South China Sea issue and Internet management, and he has written to actively support China’s position. He also studied the history and traditional culture of China at his own expense. Two years ago, he also facilitated a senior commentator of the Des Moines Chronicle in Iowa to come to Shanghai to interview the Shanghai Daily, affirming China’s news reporting concept. After returning to the United States, the reporter from Des Moines Chronicle wrote an in-depth report on the media, hoping that the United States would stop being biased against the China media.

　　"Kusak has been writing to tell us that the American press is not only the Wall Street press, but also an agricultural state like Iowa. The press is friendly to China, and the report is objective and rational. He hopes that Iowa will make greater contributions to Sino-US friendly cooperation. " Wang Yong said.

　　The report published in Shanghai Daily and the letter from Greg Cusack are as follows.：

　　Midwest farmers devastated by historic floods, ongoing US-China trade tensions

　　(Shanghai Daily, June 17))

　　About 10 days after the latest round of rainfall, half of Tom Waters’ farmland is still under water. “Some of it’ s flooded from the river. Some of it’ s flooded from seep water. Some of it just rain water that has nowhere else to go because it won’ t drain,” said the seventh-generation farmer.

　　Waters and his family farm about 3,500 acres (1,416 hectares) of land in Orrick, Missouri, a small town east of Kansas City. Among his nearly 1, 700-acre rain-soaked fields, 900 acres were swallowed by the surging Missouri River when a levee broke on June 1 and are still up to 4.5 meters below water.

　　He had planted a few acres of corn, with the rest intended for soybeans, but “it’ s just gone now,” Waters told Xinhua, estimating the loss to be “several hundred thousand dollars.”

　　When the flood hit, Waters had to move out some 60,000 bushels (1,633 tons) of soybeans in storage, and sold them at “a pretty low price, ” about US$3 a bushel off the normal price prior to the US-China trade tensions. “That’ s a lot of dollars difference for us,” he said.

　　“This has just been rain after rain. Before it even dries out it rains again. It’ s been week after week after week like that,” said Waters, who has been farming for over 40 years in this area, adding that the persistent wet weather is a “very rare event.”

　　Noting that reservoirs up in Montana, North Dakota and South Dakota still have too much water to dump, the seasoned farmer worried that “the river is going to be high all the rest of spring and through summer, so chances are we won’ t get any of this (flooded land) planted this year.”

　　Blake Hurst, president of the Missouri Farm Bureau, also a corn and soybean farmer in Tarkio, northwest Missouri, told Xinhua that he saw similarly catastrophic floods in this area in 1993, but such a widespread severe flooding throughout the Midwest is the worst he can remember. “The last 12 months, in the center part of the United States, have been the wettest 12 months on record,” said Hurst, who has about 500 acres of land under water, noting that the relentless rain since late March has contributed to significant planting delays.

　　In the biggest corn-producing states, farmers had planted 83 percent of corn acreage by June 9, compared with a five-year average of 99 percent, according to the latest data from the US Department of Agriculture (USDA).

　　Hurst, who also has 40-plus years of farming experience, said corn should ideally be planted by the first week of May, and a one-month delay could cut the normal yield by roughly 20 percent, as there might not be enough time for it to mature before the frost hits the ground. The seemingly relentless rain in the Midwest has left farmers dro wning in frustration. On top of that, many growers have been bearing the brunt of the US-initiated trade dispute with China, struggling with financial hardship and facing an uncertain future.

　　“We’ ve seen a big cut in our (soybean) exports to China because of the trade tension, and that’ s caused prices to drop,” Hurst said, adding that several months of trade frictions have “made a big difference” to farmers’ income.

　　Noting that the United States has had five years of above average crop yields, Hurst said that already led to an oversupply. A decline in exports to China, caused by the trade tensions and compounded by the African swine fever outbreak, has worsened the situation, he said.

　　‘ Not a dependable supplier’

　　“It’ s just a combination of all of them that has really made farming kind of difficult this year,” Hurst said. “It just keeps on and coming.”

　　For Waters, a combination of circumstances has made planning nearly impossible. “I think this has been the hardest year to make decisions for me since I’ ve been farming,” he said.

　　Waters said it has been stressful to wait for a resolution to the trade dispute. “You keep thinking, well maybe tomorrow, maybe tomorrow, then you hear a little bit of good news and maybe the price bumps up a little bit and then that blows up and it goes back down. So it’ s just been difficult,” he said. Hurst, who farms 6,000 acres of land with his family, usually plants corns on half of the acreage and soybeans on the other half. Earlier this year, he had planned to plant 5 to 10 percent more corn because of the trade dispute and lower demand for soybeans. The unusual wet spring, however, makes that goal unfeasible.

　　“Now, anybody that’ s shifting will shift to soybean simply because it’ s too late for corn,” Hurst said, adding that if soybeans don’ t get planted by this week, farmers will start to lose yield as well.

　　However, the USDA data shows that growers in the major soybean-producing states had only planted 60 percent of acreage by June 9, far below a five-year average of 88 percent. Speaking of the newly approved disaster relief bill and the new round of trade aid package, Hurst urged the administration to announce detailed rules of these programs quickly so that farmers can better plan.

　　Noting that it took Congress months to pass the disaster relief bill, Waters said he doesn’ t expect to receive any money until weeks later. Still, he prefers a stable market rather than a trade aid package. “The question has to be, are we losing these markets permanently?” Hurst said, noting that trade tensions in some ways make the United States “not a dependable supplier” for soybeans.

　　“Obviously we’ re going to put tariffs on you. We’ re going to announce tariffs in a tweet. So they can happen at any time. So if I’ m a grain buyer anywhere in the world, I’ m looking for a supplier I can trust, and we’ re no longer that supplier,” he said. “We’ ll be paying for this for years.”

　　The authors are Xinhua writers.

　　Media role in informing US farmers

　　Letter from Gray Kusak, published in Shanghai Daily on June 21st.

　　I wrote this after reading “Midwest farmers devastated by historic floods, ongoing US-China trade tensions” in the Shanghai Daily (June 17). One heck of a lot of farmers in America are not happy, and an even greater number are very worried about how this will all play out, especially the longer the stand-off continues.

　　The age of the average farmer continues to increase, the prices they receive for their crops are stagnant, the costs of the inputs nonetheless are increasing, and corporate mono-crop “farming” is harming land, air, and water (the dead zone in the Gulf of Mexico is larger than ever).

　　So, are they just stupid, misinformed, or what?

　　I think the problem is really the vast division in our country caused by the culture wars — the real, but deliberately exaggerated, tensions between generations, the urban-rural divide, the skillful way the Republicans keep single-issue politics picked raw, and the marked decline in rural districts that are Democratic leaning. In a sense, many farmers thus believe that they have nowhere else to go.

　　The Democratic candidates have yet to produce, at least to my knowledge, anything that could remotely be described as a farm or rural program package, making the situation even more dire.

　　I think the wide range of concerns covered by the Shanghai Daily is truly remarkable, and I hope that despite current tensions you will continue to cover matters in the US, including the many indicators that we are a society in deep trouble: such as levels of student debt after graduation, still largely stagnant wages, the ongoing widening disparity of wealth and the genuine plight of rural America. In contrast, newspapers in the US are not doing so well. The Oregonian, the newspaper published in Portland and its metro area of a few million, is nothing like what it was in the recent past.

　　They now deliver paper editions to subscribers only four days a week, expecting that on other days people will use their digital apps to access them. And their national, let alone international, coverage is insufficient to provide the information even half-informed citizens need.

　　The author is a retired US statesman. He now lives in Oregon.

　　The Chinese version of the report published in Shanghai Daily and the article written by Greg Cusack are as follows:

　　Close-up: The spring sowing season with floods and trade disputes has brought too many difficulties to American farmers.

　　(Xinhua News Agency, June 14, 2019)

　　Xinhua News Agency, Auric, USA, June 13th (Reporter Xiong Maoling, Hu Yousong) In Auric, a small town in central Missouri, USA, Tom Waters, who was over 60 years old, pointed to a muddy water area and told Xinhua News Agency that there were nearly 1,000 acres (1 acre is about 0.4 hectares) of his farmland here, but it was a pity that it was flooded after the Missouri River burst its banks earlier this month.

　　The Waters family has been farming for seven generations. At present, they have more than 3,500 acres of farmland, mainly growing soybeans and corn, but half of the farmland has been affected. He said that due to the large amount of water storage in reservoirs in Montana and North Dakota in the upper reaches, it is necessary to open floodgates and flood discharge, and it is estimated that his flooded farmland will not be seen again until the end of the summer.

　　"(The flooded farmland) may not be able to grow anything this year." Waters said helplessly that he expected that the flood would cost him hundreds of thousands of dollars.

　　Since the end of March this year, the continuous floods in the midwest of the United States have made farmers like Waters complain, and the sowing process has been delayed again and again. According to data from the US Department of Agriculture, as of last week, about 83% of corn fields in the United States have been sown, which lags behind the average of 99% in the same period of the past five years; The soybean planting completion rate is 60%, which is also lower than the average level of 88% in the same period of the past five years.

　　Blake Hurst, president of Missouri Farmers’ Association, told reporters that such a large-scale serious flood that swept across the central and western regions had never happened in his memory of farming for more than 40 years. He said that even if the flood recedes, the flooded farmland will have to wait for time for the soil to recover, which means that some farmland will miss the whole sowing season.

　　Hearst said that the best sowing date of corn has passed one month. If we start planting corn now, I am afraid we can only achieve 80% harvest this year. The sowing window of soybeans is also narrowing. If the sowing cannot be completed next week, the soybean output will be affected this year.

　　Not only is it a natural disaster, but the trade dispute with China provoked by the US government has aggravated the plight of farmers in the Midwest of the United States. Hearst said that the trade dispute caused a sharp drop in US soybean exports to China, lower soybean prices, greatly reduced farmers’ income, and many farmers faced economic difficulties.

　　Hearst said that in the past five years, the rare continuous high yield of soybeans and other crops in the United States has already caused an oversupply, while the economic and trade friction has reduced the demand for American soybeans in China, a big market, and the oversupply of American soybeans is even more serious. "These factors are superimposed together, making it difficult for farmers this year."

　　Waters originally hoarded 60,000 bushels of soybeans (1 bushel of soybeans weighs about 27.2 kilograms) for sale when the price picked up. However, due to the flood this spring, he had to transfer his inventory in time and have a sale at a low price. Compared with the soybean price before the Sino-US economic and trade friction, he lost about $180,000.

　　Compared with many farmers, Waters is lucky. It is understood that in Nebraska, Iowa, Missouri and other States, floods not only flooded fields, but also swept some barns, and farmers could only watch helplessly as the food that was too late to rush was wiped out.

　　Waters admits that this year is the most difficult year for him to make a decision since he was a farmer, and he has spent many "sleepless nights". He has been expecting the United States and China to reach an agreement as soon as possible to resolve the trade dispute, but the waiting process makes him anxious.

　　"I’ve been thinking about it, maybe tomorrow (an agreement will be reached), and then I heard a little good news, and then the price of soybeans went up a little, and then the expectations failed and the price fell again. This is not easy for all farmers." He said.

　　For Hurst, who owns 6,000 acres of farmland, the planting season this spring is also very difficult. Hearst’s farmland is located in Tacchio, a small town in the northwest corner of Missouri. In previous years, he usually planted half soybeans and half corn. Hearst originally planned to plant hundreds of acres of corn this year because of the reduced demand for soybeans caused by economic and trade frictions. However, the continuous rainfall has repeatedly delayed his corn sowing plan and missed the best sowing date. Now, if he replants soybeans, he will face the uncertainty of market demand.

　　In order to make up for the losses caused by economic and trade frictions to farmers, the US government introduced an agricultural subsidy plan of about $12 billion last year to provide certain subsidies to farmers of crops such as soybeans. But Waters said that the soybeans he produced last year were only partially subsidized.

　　In late May this year, the US Department of Agriculture announced that it would provide farmers with up to $16 billion in aid to compensate them for the losses they suffered in economic and trade frictions. But Waters doesn’t expect to get money soon. He wants a stable market more than government subsidies.

　　Hearst also expressed concern about the market prospects. He said that the U.S. government’s actions of arbitrarily imposing tariffs and provoking trade disputes will make the United States lose its status as a "reliable supplier" and cause long-term negative effects. "We will pay the price for this for many years." (Participating in reporters: Gao Pan, Liu Jie)

　　Letter from Gray Kusak.(Chinese translation)

　　After reading the article published in Shanghai Daily on June 17th ("Floods and trade disputes bring disasters to farmers in the Midwest of the United States"), I started writing to your newspaper. Too many American farmers are unhappy, and as the dispute persists, more people are confused about the future.

　　The average age of American farmers is getting bigger and bigger, the production cost is getting higher and higher, but the price of agricultural products is stagnant, and the company’s single-variety planting behavior has brought harm to land, air and water (the "dead zone" in the Gulf of Mexico is increasing day by day. )

　　Is all this because American farmers are stupid? Or is it because their information is wrong, or other reasons?

　　In my opinion, the real root of the problem lies in the social gap caused by the cultural war in our country – Generational conflicts (real but deliberately exaggerated), urban-rural division, Republicans’ habit of making a fuss about a single political issue, throwing salt into the wound, and the rural areas on which the Democratic Party depends are dying. It can be said that many farmers in the United States feel quite helpless and feel that there is no way to go. The Democratic Party is far from finding a package solution for agriculture or rural areas, which makes the situation even worse.

　　I think Shanghai Daily has a wide coverage of these topics of concern. I hope your newspaper will continue to report these problems in the United States, despite the current trade friction between the United States and China. These problems show that American society is in a dilemma. They include: the debt of students remains high (even after graduation), the wages are mostly stagnant, the wealth gap is widening, and the countryside is in trouble.

　　Contrary to your newspaper, American newspapers are not doing well. For example, The Oregonian, published in Oregon and surrounding areas with millions of people, is not as good as it used to be. The quality edition of the newspaper is only published four days a week, and the rest of the time readers are expected to read it through electronic applications. (In the case of such a shrinking newspaper industry), not to mention international news, even domestic news in the United States is poorly reported, which is far from meeting the needs of readers with only general knowledge background.

　　Gray Kusak

　　The US Treasury Department issued a statement in the early morning of August 6th, Beijing time, and decided to list China as a "currency manipulator". In this regard, experts believe that China adheres to the exchange rate system determined by the market, and there is no problem of "exchange rate manipulation". China does not engage in competitive devaluation, does not use the exchange rate for competitive purposes, and does not use the exchange rate as a tool to deal with external disturbances such as trade disputes.　

　　"The depreciation of the RMB exchange rate on August 5 is largely due to the increase in tariffs imposed by the United States on China, the increase in pessimism about China’s balance of payments and the RMB in the market." Yu Yongding, a member of the China Academy of Social Sciences, said that it can be said that it is caused by the American practice and has nothing to do with the People’s Bank of China.　

　　At present, whether the RMB exchange rate rises or falls, it is determined by the market, not the result of human manipulation. "In terms of mechanism, the RMB exchange rate is determined by market supply and demand, and there is no ‘ Exchange rate manipulation ’ The problem. " Wen Bin, chief researcher of China Minsheng Bank, said that at present, China is implementing a managed floating exchange rate system based on market supply and demand, with reference to a basket of currencies. Since China implemented the reform of RMB exchange rate formation mechanism in July, 2005, it has continuously improved the quotation mechanism of the middle price and expanded the floating range of RMB against the US dollar on the basis of the middle price, from 3‰ Expanding to the current 2% can fully reflect the relationship between market supply and demand, and the degree of marketization of RMB exchange rate has been significantly improved.　

　　Especially since the "8.11" exchange rate reform in 2015, the two-way fluctuation of RMB has become more obvious, the exchange rate flexibility has been significantly enhanced, and the degree of marketization has been greatly improved. Taking the trend of RMB in 2018 as an example, since the middle and late April of 2018, the RMB exchange rate has started a downward trend, and by the end of June, it has dropped all the previous increases. In November, after the RMB exchange rate hovered around the 6.9 mark, it ushered in a strong rebound in December and finally "recovered lost ground". In this process, whether the RMB exchange rate appreciates or depreciates, it is a reflection of the expected changes in the market, rather than artificial manipulation.　

　　The recent "breaking 7" of RMB exchange rate is also a reflection of China’s adherence to the market-determined exchange rate system. Wen Bin said that recently, due to the global economic slowdown, interest rate cuts by many central banks, increased trade frictions and other factors, the international financial market has fluctuated violently, and the RMB exchange rate has also fluctuated under the influence of market and sentiment, which is precisely a reflection of the marketization of the RMB exchange rate.　

　　Some people think that the devaluation of the RMB at this time is China’s response to trade disputes.　

　　"The depreciation of the renminbi has no definite benefits for China." Yu Yongding said that RMB depreciation has both advantages and disadvantages, and the impact is uncontrollable. There are too many uncertain factors for China to devalue. For example, after devaluation, it may stimulate capital outflow, which may aggravate the devaluation. In the long run, this is not conducive to maintaining a general balance in China’s foreign trade, and devaluation will also make the burden on the whole country heavier.　

　　From this point of view, China’s initiative to guide devaluation has too many side effects, which may do more harm than good. Therefore, we will not intentionally devalue the RMB exchange rate.　

　　Yu Yongding emphasized that "China does not engage in competitive devaluation, does not use the exchange rate for competitive purposes, and does not use the exchange rate as a tool to deal with external disturbances such as trade disputes". These three policies are China’s policies, and no country will formulate and implement policies that are uncertain about its own benefits. Therefore, it is not China’s choice to deliberately guide devaluation.

　　"There are many ways to deal with economic and trade frictions, and there are too many negative spillover effects of using the exchange rate, so it is unnecessary for China to take this measure." Li Yong, deputy director of the Expert Committee of China International Trade Association, said that as a responsible big country, China should be responsible not only for itself, but also for its major trading partners. Not engaging in competitive devaluation is conducive to China’s cooperation with its major trading partners, which is in the interest of China.　

　　China has not used and will not use the exchange rate as a tool to deal with external shocks. "Even after the outbreak of the Asian financial crisis, China did not choose to devalue to deal with the impact. At a time when the internal and external shocks are still far from the crisis, active depreciation will not be an option for China. " Li Yong stressed.　

　　Li Yong believes that the United States accuses China of manipulating the exchange rate at this time. This unilateral act of the United States undermines the global multilateral consensus on the exchange rate issue, which will seriously hinder international trade and global economic recovery, and will be beneficial to both people and themselves, and will eventually reap the consequences.

The release of "Code for the Construction of Shared Substation for Electric Passenger Cars" is not to make all models the same, but to hope that manufacturers will take the initiative to try and make mistakes on the basis of this standard, strive to enhance the compatibility of different models, and finally select the best scheme through the market.

Director, Information Department, China Electric Vehicle Charging Infrastructure Promotion Alliance, Tongzong Banner

The vehicle slowly enters the parking platform of the power exchange station, and the lifting device lifts the whole vehicle upwards. The battery pack replacement equipment takes out the old battery under the chassis of the vehicle body, and puts in the new battery, and then lowers the vehicle body. After the staff check it, the vehicle can leave with full charge, and the whole process takes only a few minutes.

At present, there are more than 20,000 new energy electric taxis in Beijing that use this mode as a way to supplement their electricity, but the process is not always so smooth: a series of problems, such as fewer power stations, long distance and long waiting time, have made many drivers complain about this mode. However, it is not only the drivers who are suffering, but also the operators of power stations often complain that the income from operating power stations is not good enough to make ends meet. The power exchange mode that should have been mutually beneficial has fallen into an embarrassing situation, which has brought the development of power exchange to a deadlock.

Recently, China Automobile Industry Association officially solicited opinions on the group standard of "Code for the Construction of Shared Power Exchanging Stations for Electric Passenger Cars" (hereinafter referred to as the "Code"), which marked the first step of establishing the standard for the construction of shared power exchanging mode.

Is the shared power exchange station expected to become a key to break the deadlock in the development of power exchange mode and activate the potential of power exchange mode in the future?

Vicious cycle, it is difficult to change electricity at both ends

Tong Zongqi, director of the Information Department of China Electric Vehicle Charging Infrastructure Promotion Alliance, one of the drafting units of the Code, believes that the advantages of high charging efficiency and low time cost make the power exchange mode a good choice for new energy vehicles to replenish electricity.

For electric vehicles, the benefits of changing electricity are obvious. From the consumer’s point of view, the shortest charging time of only a few minutes is comparable to that of a fuel car, so that "power anxiety" is no longer a problem. For automobile and battery manufacturers, through centralized management and use of batteries, battery performance can be better maintained, battery life can be prolonged, and even after retirement, it can be effectively recycled to maximize resource utilization.

But in real life, the process of changing electricity is often not as smooth as expected. "Not only do you often have to queue up, sometimes the map shows that there is electricity in the power station. When the driver goes, he finds that the battery that can be replaced is not as good as the original battery." Tongzongqi was deeply impressed by some new energy taxi drivers’ complaints about the mode of changing electricity.

Not only is the user experience poor, but the operators of the power station also have difficulties. "As far as the operation of changing power stations is concerned, many enterprises have not yet achieved real profits." Tong Zongqi told reporters that as a kind of "heavy assets", the power station needs to invest a lot of money in land, infrastructure construction, operation and maintenance. Only when the electric vehicle model reaches a certain scale can it cover the high cost of initial investment. However, it is obvious that the current low number of power exchange vehicles is not enough to support the large-scale construction and popularization of power exchange stations. Tong Zongqi believes that there are fewer models adopting the power exchange mode, and the enthusiasm of manufacturers to build power exchange stations is not high; However, the coverage of the power exchange station is insufficient, and fewer cars are willing to adopt the power exchange mode. As a result, the development of power exchange mode has fallen into a vicious circle deadlock.

The standard opens the way, making the sharing break.

Sharing power exchange is regarded as a "key" that is expected to solve the problem of power exchange mode and bring it into a virtuous circle. The shared power exchange station is the infrastructure of the shared power exchange mode. "If the power exchange stations can be shared, the benefits of a single power exchange station can be maximized, and repeated construction of different types of power exchange stations can be avoided, which not only saves costs but also expands the number." According to Tongzongqi’s introduction, the shared power exchange station can gather various power exchange needs of different brands and models, integrate and unify the original scattered power exchange stations, and maximize the potential of a single power exchange station without changing the total number of construction.

However, the premise of sharing is a unified standard. Tong Zongqi gave an example to reporters. On the personal consumption side, the automobile manufacturers that adopt the power exchange mode at present are mainly Weilai Automobile; At the commercial operation end, it is mainly represented by Beiqi New Energy. And it is only a few manufacturers that adopt the power exchange mode, and their power exchange methods are not the same. "Take the specific vehicle-end power exchange mechanism as an example. BAIC New Energy adopts the snap-in type and Weilai adopts the bolt type. These are two different technical routes." Tong Zongqi said.

In order to unify the standards and promote sharing, the Code issued this time contains 13 parts, ranging from the logo slogan of the power exchange station to the overall site selection construction of the power exchange station, all of which have been carefully standardized.

For example, in view of the compatibility of parking platforms, the Specification proposes to meet the needs of different vehicle positioning. On the other hand, in terms of the vehicle-end power exchange mechanism mentioned by Tongzongqi, the Code gives standards for both ways. The durability life of the vehicle with snap lock mechanism should meet the requirements of at least 8,000 power exchanges, and the durability life of the vehicle with bolt lock mechanism should meet the requirements of at least 3,000 power exchanges.

The Code involves many market players, including power station builders, operators, automobile manufacturers, battery manufacturers and so on. Tong Zongqi believes that as the terminal application of the shared power exchange mode, the determination of its standard will not only help to standardize the construction and operation of the power exchange station, but also require the upstream automobile and battery manufacturers to actively abide by it in the early production process, cooperate with many parties, and share power exchange to move from concept to application.

On the other hand, Tong Zongqi also pointed out that the release of the "Specification" is not to make all models uniform, but to hope that manufacturers will take the initiative to try and make mistakes on the basis of this standard, strive to enhance the compatibility of different models, and finally select the best solution through the market. "It is not realistic to realize the complete unification of all models. If it can eventually be concentrated into two or three main modes, it will also be a resource saving." Tong Zongqi said.

Multi-pronged approach to enhance market competitiveness

Tong Zongqi believes that the release of the Code has solved the problem of sharing power exchange standards from scratch. "There was no relevant standard for reference before, but now there is, all parties can refer to it." However, Tong Zongqi also pointed out that this Code is only the first step in the formulation of standards. "Group standards play a reference and experimental role, and are not mandatory. The purpose is to call on the whole industry to take this as a reference, constantly verify the rationality and feasibility of standards in the market, and lay a good foundation for further formulating industry standards and national standards in the future."

If the shared power exchange station solves the hardware problem of infrastructure, the construction of "software" related to "good" is more critical for the popularization of power exchange mode.

"I also spent money to buy the battery. When I changed the electricity, what happened to the new and old ones?" When talking about the current power exchange mode, the most heated discussion among car owners is the battery ownership dispute. In order to resolve this contradiction from the source, the business model of "separation of vehicles and electricity" came into being. According to Tong Zongqi, the battery cost usually accounts for about 40% of the total cost of new energy vehicles. "Separation of vehicle and electricity" means that the power battery is sold separately from the car body during the sales process, and the car body is purchased by the owner at one time, and the ownership belongs to the owner. The battery is rented and paid monthly. Depending on the battery capacity, the rental price ranges from several hundred yuan to thousands of yuan. At the same time, the car purchase price of the whole vehicle also dropped by about 20%, which significantly lowered the threshold for consumers to buy a car. Although the "separation of vehicle and electricity" mode fundamentally eliminates the dispute over battery ownership, this "betrayal" of the tradition of the automobile industry and the monthly rental mode are still a big test of consumer acceptance.

There is still a lot to be done to realize the sustainable development of power exchange mode. "In terms of the number of battery packs in the power station, what is the most appropriate configuration? Too many configurations can’t be used, which will increase operating costs in vain; The configuration is not enough and the user experience is not good. " Tong Zongqi believes that in addition to the basic construction of power exchange, the use of big data and intelligent operation methods will also help the power exchange model to truly survive in the market competition.

According to the plan of China Automobile Industry Association, the sharing power exchange technology will be gradually promoted to the market in three steps. In the first stage, the infrastructure construction, vehicle identification system, data analysis system and other aspects of the power station will be shared, including interconnection and intelligent identification by using the cloud platform; In the second stage, communication protocols and electrical connectors will be further shared, and the sharing of vehicle platforms will be realized by encouraging more power exchange enterprises to participate; The third stage is to fully realize the sharing of battery pack platform and battery module, and achieve the most ideal state of sharing power exchange mode.

However, in the final compilation note, the Code also specifically pointed out that the shared power exchange should not be shared for the sake of sharing, but should be realized on the basis of ensuring the safety, reliability and stability of vehicle products. At the same time, China Automobile Industry Association hopes to establish a sustainable business model of power exchange through the construction of shared power exchange station, so that the market can test the feasibility, reliability and stability of the shared power exchange model, and strive to make the power exchange model an active choice for energy supplement in the new energy vehicle market.