Recently, some provinces and cities began to announce the fiscal revenue and expenditure situation in April. Under the influence of unexpected factors such as the epidemic situation, the downward pressure on the economy has increased, and the contradiction between local fiscal revenue and expenditure has been increasing due to the reduction of income brought about by the large-scale tax rebate and tax reduction policy.

　　On May 11th, the Shenzhen Municipal Finance Bureau disclosed data showing that from January to April this year, the general public budget revenue in Shenzhen reached 130.98 billion yuan, down by 12.6%. In fact, in the first quarter, Shenzhen’s income still increased slightly, but in April, it fell by about 44%.

　　For the decline in fiscal revenue in the first four months, the Shenzhen Municipal Finance Bureau explained that the main reason was the policy reduction caused by the central government’s implementation of combined tax and fee support policies such as value-added tax refund and tax deferral for small and medium-sized enterprises in manufacturing.

　　This year’s 1.5 trillion yuan VAT tax refund policy was officially implemented on April 1. Due to the increasing difficulties of enterprises under the impact of the epidemic, the fiscal and taxation departments accelerated the tax refund progress. According to the data of the State Administration of Taxation, the value-added tax rebate in April was as high as 801.5 billion yuan. This is reflected in the local fiscal revenue, that is, the value-added tax revenue of the first major tax category has been greatly reduced. However, this move has increased the cash flow of enterprises and eased the financial pressure of enterprises. In the medium and long term, it is conducive to conserving tax sources and increasing fiscal revenue.

　　Affected by the new policy of tax refund, tax reduction and tax deferral, many places are similar to Shenzhen, and the fiscal revenue dropped significantly in the first four months, especially in April. This is confirmed in many cities and counties that took the lead in publicly disclosing the fiscal revenue and expenditure in April. For example, in the first four months, the general public budget revenue of Nanning, Guangxi decreased by about 6% year-on-year, Changzhou, Jiangsu decreased by 4.5% and Zhuzhou, Hunan decreased by about 4.9% year-on-year.

　　In addition, due to the spread of the epidemic in April, many residents were isolated at home, and some enterprises stopped production, which will also have an impact on local fiscal revenue.

　　At present, there are fewer provinces that disclose the fiscal revenue and expenditure in the first four months. Judging from the fiscal revenue and expenditure data released in various places in the first quarter, there are great differences in the growth rate of local fiscal revenue, among which the fiscal revenue of resource-based provinces such as Inner Mongolia and Shanxi maintained rapid growth due to the rise in commodity prices or high operation.

　　Yang Yewei, chief fixed-income analyst of Guosheng Securities Research Institute, found that in the first quarter, in addition to economically strong provinces such as Shanghai and Fujian, resource-based provinces such as Shaanxi and Inner Mongolia also began to make the list. In the first quarter, Shanghai and Fujian were still in fiscal surplus, with a surplus scale of more than 40 billion yuan. However, resource-based provinces have also entered the ranks of fiscal surplus provinces due to the sharp increase in income, such as Shaanxi’s fiscal surplus of 80.2 billion yuan in the first quarter and Inner Mongolia’s surplus of 1.6 billion yuan.

　　However, with the obvious decline in local fiscal revenue in April, the contradiction between local fiscal revenue and expenditure has increased significantly. For example, the Finance Department of Hainan Province recently held an analysis meeting on the financial situation of the whole province. The meeting pointed out that since the beginning of this year, under the triple pressure of shrinking demand, supply shock and expected weakening, combined with the influence of the COVID-19 epidemic and the Ukrainian situation, the complexity, severity and uncertainty of China’s economic development environment have increased, and Hainan’s financial work is facing more severe difficulties and challenges, with the growth of fiscal revenue slowing down obviously, the progress of project capital expenditure being slow, and the task of completing the whole year is under greater pressure.

　　In order to alleviate local financial difficulties and support the implementation of policies such as tax rebate and tax reduction, at present, 800 billion yuan of transfer payment funds from the central government to support the grassroots to implement tax reduction and fee reduction and key people’s livelihood have all been distributed to local governments in April.

　　Wang Jianfan, director of the Budget Department of the Ministry of Finance, recently publicly stated that the Ministry of Finance urged and guided provincial financial departments to formulate targeted financial support programs for counties and districts with large tax rebates and relatively difficult finances, especially key counties and districts with tax rebates exceeding their own financial level. Close attention should be paid to them and one-on-one counseling should be carried out to ensure that these counties and districts can achieve stable financial operation while ensuring tax rebate funds, and the "three guarantees" can not be guaranteed.

　　In order to hedge the downward pressure on the economy, local governments, under the current situation of declining tax revenue, guarantee the construction of major projects by speeding up the issuance of local government bonds to ensure the steady investment and growth of bond funds.

　　According to the data of GF Securities Development Research Center, local debt increased by 1,681.3 billion yuan in April this year, exceeding the same period in 2019 and 2021, accounting for 38.7% of the annual new local government debt limit of 4,370 billion yuan. Among them, Guangdong’s new local debt issuance is the largest, reaching 172.7 billion yuan; Followed by Shandong, issuing 126.3 billion yuan; The scale of new local debt issuance in Henan, Zhejiang and Sichuan provinces is 100 billion to 120 billion yuan.

　　As the Ministry of Finance requires local governments to complete most of the new special bond issuance tasks before the end of June, the market expects a small climax of bond issuance in May and June.

　　The first and second volumes of Selected Readings of the Works of the Supreme Leader systematically show the scientific system of Socialism with Chinese characteristics Thought of the Supreme Leader in the new era, which runs through the fundamental position of people first. Many articles reflect the value orientation, important requirements, key tasks, basic principles and ideological methods of safeguarding and improving people’s livelihood in development, which fully embodies the scientific grasp and regular understanding of the staged characteristics of people’s livelihood construction by General Secretary of the Supreme Leader. It shows outstanding political wisdom, extraordinary theoretical courage, strong mission and deep feelings for the people, points out the direction and provides fundamental follow-up for doing a good job in people’s livelihood, and provides a powerful source of strength for the whole party and the people of the whole country to comprehensively promote the great rejuvenation of the Chinese nation with Chinese modernization. We should thoroughly study and understand, and earnestly implement it.

　　Adhere to and strengthen the leadership of the party to ensure the stability and long-term development of people’s livelihood.

　　The leadership of the party is the fundamental guarantee for safeguarding and improving people’s livelihood in development. General Secretary of the Supreme Leader emphasized that the Communist Party of China (CPC) is the highest political leading force. The Communist Party of China (CPC)’s leadership is the most essential feature of Socialism with Chinese characteristics and the greatest advantage of Socialism with Chinese characteristics system. Adhering to the centralized and unified leadership of the CPC Central Committee is the highest political principle. The leadership of the Party is the greatest national condition in China. Practice has fully proved that upholding the party’s leadership is the root and lifeblood of the party and the country, and it is the interest and destiny of the people of all ethnic groups throughout the country. Since the 18th National Congress of the Communist Party of China, the CPC Central Committee with the Supreme Leader as the core has closely followed the theme of the times, closely followed the needs of the masses, made timely and scientific decisions, implemented the employment priority strategy, built a harmonious labor relationship, and deepened the reform of the social security system. In a developing country with a large population, we have maintained stable employment for a long time, built the largest social security system in the world, and made great achievements that have attracted worldwide attention. The new era and new journey to promote the modernization with a huge population and common prosperity for all people is a profound social change and a transcendence of western modernization and welfare society. It is unprecedented in arduousness and complexity, and unprecedented in significance and influence. Only by upholding and strengthening the Party’s leadership and giving full play to the Party’s powerful political leadership, ideological leadership, mass organization and social appeal can we effectively cope with the impacts and influences from all sides, lead all the people to work together to create a better life and build people’s livelihood more solidly, firmly and effectively.

　　To uphold and strengthen the leadership of the Party, the most fundamental thing is to strengthen the centralized and unified leadership of the Party Central Committee, deeply understand the decisive significance of "two establishment" to the development of the cause of the Party and the country in the new era and to promote the historical process of the great rejuvenation of the Chinese nation, constantly improve political judgment, political understanding and political execution, comprehensively implement the Party’s basic theory, line and general plan, enhance "four consciousnesses", strengthen "four self-confidences" and achieve "two maintenance" It is necessary to thoroughly study and understand the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, combine the study of the Party’s innovation theory with solving the practical interests of the masses and promoting the reform and innovation of policies and systems in the field of people’s livelihood, and turn it into practical results to promote the high-quality development of people’s livelihood construction. It is necessary to take the implementation of the spirit of the important instructions of the Supreme Leader General Secretary on people’s livelihood as the primary political task, study and deeply understand it in time, and implement it comprehensively, accurately and creatively. It is necessary to fully implement the spirit of the 20th National Congress of the Communist Party of China and the decision-making arrangements made by the CPC Central Committee on people’s livelihood work, be a good executor, activist and doer, and make progress in benchmarking key tasks.

　　Adhere to the people-centered development thought, and make the people live a good life as the starting point and the end result of all work.

　　The people-centered development thought embodies our party’s distinct people’s stand. The General Secretary of the Supreme Leader stressed that it is necessary to adhere to the people-centered development thinking and take enhancing people’s well-being, promoting people’s all-round development, and making steady progress towards common prosperity as the starting point and the end result of economic development. Only by adhering to the people-centered development thought, insisting that development is for the people, development depends on the people, and development results are shared by the people, can we have a correct concept of development and modernization. The people-centered development thought is a vivid expression of communist party people’s initial intention and mission, and profoundly answers the development purpose of "for whom", the driving force of "who depends on" and the value question of "who enjoys". This is a profound summary of our party’s practical experience in leading socialist modernization, which is in line with the party’s fundamental purpose of serving the people wholeheartedly and has distinctive characteristics of the times, and is the key to solving the main contradictions in our society.

　　Adhering to the people-centered development idea means that all work should be carried out in order to realize people’s interests, make more effective institutional arrangements, gather development forces extensively, and make development a development that benefits the people. We must conform to the people’s needs for a better life, actively respond to the people’s actual needs, identify the focus and breakthrough point of doing a good job, and constantly meet the people’s expectations for a better life in terms of more stable work, more satisfactory income, and more reliable social security. We should gather the wisdom and strength of the people, respect their initiative, adhere to the dominant position of distribution according to work, and fully mobilize the enthusiasm, initiative and creativity of the people. It is necessary to promote high-quality full employment, improve the multi-level social security system, improve the wage and income distribution system, safeguard the legitimate rights and interests of workers, and promote the sharing of the fruits of reform and development. We should take the mass line well, look at problems from the perspective of the masses, learn to put ourselves in other’s shoes, and strive to make all policies and measures reflect public opinion, enhance people’s interests and win people’s hearts. It is necessary to regard people’s satisfaction as the fundamental criterion for testing work, firmly establish a correct view of political achievements, and refrain from formalism and bureaucracy, so that people’s livelihood work can stand the test of the masses, practice and history.

　　Adhere to the new development concept to lead high-quality development, so that the achievements of modernization can benefit all people more fairly.

　　High-quality development is the primary task of building a socialist modern country in an all-round way and the premise and foundation for safeguarding and improving people’s livelihood. General Secretary of the Supreme Leader stressed that it is necessary to persist in safeguarding and improving people’s livelihood in development and give priority to promoting high-quality development. We must strive to do a good job in various people’s livelihood undertakings and fill the shortcomings in the field of people’s livelihood in the process of promoting high-quality development. Promoting high-quality development is a scientific judgment and major decision-making arrangement based on the changes of China’s development stage, development environment and development conditions, and aiming at the problems of unbalanced, uncoordinated and unsustainable development. High-quality development is the development that embodies the new development concept. High-quality development is the theme, and the complete, accurate and comprehensive implementation of the new development concept is the guide, which runs through the whole development process and all fields. People’s happiness and well-being is the ultimate goal of promoting high-quality development, and people’s livelihood is connected with domestic demand and development, and grasping people’s livelihood is also grasping development. Employment is a bridge between social demand and supply, a link between production, exchange, distribution and consumption, and supports the basic disk of macroeconomic and microeconomic operation. Effective development and utilization of human resources is an inherent requirement to improve the total factor productivity. Perfecting the wage and income distribution system is an important prerequisite for expanding consumer demand. Social security can improve residents’ consumption expectations and stimulate effective demand. Constructing harmonious labor relations is conducive to the steady improvement of enterprise benefits. All these are conducive to enhancing the balance, coordination and inclusiveness of economic and social development.

　　Adhering to the new development concept to lead high-quality development is to safeguard and improve people’s livelihood in development, enhance the internal driving force of development, realize the complementary and benign interaction between high-quality development and improvement of people’s livelihood, and promote the all-round enrichment of things and the all-round development of people. We should regard employment as the foundation of development and the source of wealth, speed up the establishment of a work system to promote high-quality full employment, strengthen the priority orientation of employment in promoting high-quality development, and constantly promote the expansion and quality improvement of employment, so that more people can realize their own values and create social wealth through labor. It is necessary to systematically integrate, coordinate and efficiently promote the reform of the social security system, weave a social security safety net, stabilize social expectations, relieve the worries of the masses, and lay a solid foundation for economic and social development. It is necessary to improve the wage determination, reasonable growth and payment guarantee mechanism, increase the labor remuneration of workers, especially front-line workers, expand middle-income groups, and better stimulate vitality, reflect efficiency and promote fairness. It is necessary to build and improve harmonious labor relations with China characteristics, make overall plans to safeguard workers’ rights and interests and enterprise development, and constantly improve the level of protection of workers’ rights and interests on the basis of economic development. It is necessary to make full use of human resources, improve the human capital and professional skills of the whole society, and provide strong talent support for high-quality development.

　　Insist on doing our best and doing what we can, so as to ensure and improve people’s livelihood and adapt to the level of economic development

　　Doing one’s best and doing what one can is an important principle to protect and improve people’s livelihood in development. General Secretary of the Supreme Leader emphasized that we should do our best and do what we can under realistic conditions, so that the people can get tangible benefits. Do your best, emphasizing the responsibility and initiative of the party and the government. Do what you can, emphasizing that everything must proceed from reality and fully consider the realistic conditions at a specific stage of development. This fully embodies Marxist dialectics and materialism, and requires starting from what can be done under realistic conditions, doing one thing after another, year after year, and constantly promoting the sustainable development of people’s livelihood construction. China is still a big developing country, and it is in the primary stage of socialism for a long time. Safeguarding and improving people’s livelihood must not be divorced from this greatest reality. We should give more "charcoal in the snow" and less "icing on the cake". We will neither hesitate to give more money, spend less money, nor aim too high, live beyond our means and pay lip service.

　　Insisting on doing our best and doing what we can means following the laws of economic and social development, coordinating needs and possibilities, and building the protection and improvement of people’s livelihood on the basis of economic development and sustainable financial resources. We should proceed from reality, improve the mechanism of social security financing and treatment adjustment, improve the wage and income distribution system, gradually improve the level of social security with the level of economic development, realize the synchronous growth of residents’ income while economic growth, and realize the synchronous growth of labor remuneration while improving labor productivity. We should take economic development as the fundamental support to solve the employment problem, focus on enhancing the vitality of micro-subjects, cultivate and continue strong new employment momentum, and form a virtuous circle of economic growth and employment expansion. It is necessary to grasp the characteristics of stability, continuity and accumulation of people’s livelihood work, proceed from protecting the basic rights and interests of the people, make steady progress, step by step, make solid progress, persevere and continue to exert strength, and constantly form phased results, and accumulate small victories for great victories. It is necessary to closely combine the economic and social development in different regions and the actual situation of enterprises in different industries, strengthen classified guidance and precise policies, and effectively enhance the targeted effectiveness of policy formulation and promotion.

　　Adhere to everyone’s responsibility and everyone’s enjoyment, and encourage common struggle to create a better life.

　　Everyone’s responsibility and enjoyment are the basic ways to protect and improve people’s livelihood. The General Secretary of the Supreme Leader stressed that it is necessary to gather people’s wisdom extensively, stimulate people’s strength to the greatest extent, and form a vivid situation in which everyone participates, everyone tries their best, and everyone has a sense of accomplishment. Let the vitality of all labor, knowledge, technology, management, capital and other elements compete in generate, and let all sources of social wealth flow in full. The people are the main body enjoying the fruits of reform and development, and they are also the main body promoting the improvement of people’s livelihood. To protect and improve people’s livelihood in development, it is necessary to promote the broad participation of the masses, guide them to establish the belief of improving their lives through hard work, and maximize their spirit of struggle and creative potential, so that improving people’s livelihood is not only the direction of the work of the party and the government, but also the goal of the masses themselves. It is necessary to adhere to social fairness and justice, remove obstacles that affect workers’ participation in development and sharing the fruits of development, and strive to achieve fairness in rights, opportunities and rules, so that everyone has the opportunity to realize their own development through hard work.

　　Adhering to everyone’s responsibility and everyone’s enjoyment is to create a good social environment, enhance the creative vitality of the whole society, promote people’s equal participation, equal development and equal enjoyment, and constantly promote all people to do their best and get their place. It is necessary to adhere to the principles of independent employment of workers, market regulation of employment, government promotion of employment and encouragement of entrepreneurship, strengthen the direction of market-oriented socialized employment, promote workers to change their employment concepts, improve the security system for promoting entrepreneurship to drive employment, support and standardize the development of new employment forms, and cultivate diversified and multi-level employment needs. Efforts should be made to get rid of the drawbacks of the system and policies that hinder the flow of labor and talents, improve the unified national labor market, eliminate unreasonable restrictions and employment discrimination that affect equal employment, create an employment environment of equal competition, smooth the upward flow channels, break through the barriers of solidification of interests, and prevent the solidification of social classes. We should persist in getting more for more work, improve the ability of employment and entrepreneurship, optimize the distribution pattern of wages and income, broaden the space for career development, and encourage hard work and innovation to get rich. We should respect labor, knowledge, talents and creativity, vigorously carry forward the spirit of model workers, workers and craftsmen, and firmly establish the concepts of the most glorious, noble, greatest and most beautiful labor, so that all people can further glow their labor enthusiasm, release their creative potential and create a better life through labor. It is necessary to improve the incentive mechanism of social security payment, encourage and guide the masses to participate in insurance, correctly grasp the reasonable proportional relationship between social assistance, minimum wage and unemployment insurance standard, and relevant policies and systems cannot encourage lazy people.It is necessary to improve basic labor standards, expand the coverage of social insurance, strengthen the protection of workers’ rights and interests in flexible employment and new employment forms, and fully implement workers’ basic rights such as labor remuneration, social security, rest and vacation.

　　Strengthen the construction of inclusive and basic people’s livelihood and continuously improve people’s quality of life.

　　Inclusive, basic and comprehensive people’s livelihood construction is an important task of people’s livelihood work. The General Secretary of the Supreme Leader stressed that we should start with solving the most direct and realistic interests of the masses, do a good job in building people’s livelihood in an inclusive, basic and comprehensive way, comprehensively improve the co-construction capacity and sharing level of public services, meet the diverse livelihood needs of the people, and weave a dense livelihood security network. People’s livelihood work is complicated, closest to the people and closest to their lives. This requires starting from what the people care about, starting from what satisfies the people, seeking more benefits and solving more worries about people’s livelihood, and at a higher level, achieving education for young children, learning and teaching, income from work, medical care for the elderly, housing and support for the weak, so that people can gain a sense of happiness, security and sustainability.

　　To strengthen the construction of inclusive, basic and comprehensive people’s livelihood, we should focus on solving the urgent problems of the people, improve the basic public service system, improve the level of public services, and ensure that the people live and work in peace and contentment and the social order is stable and orderly. It is necessary to regard the distribution system as the basic system to promote common prosperity, adhere to the principle of distribution according to work and the coexistence of various distribution methods, and build a coordinated system of primary distribution, redistribution and third distribution. We should regard employment as the most basic livelihood, implement the employment priority strategy, strengthen the employment priority policy, improve the employment promotion mechanism, and promote high-quality full employment. We should regard the social security system as a safety net for people’s lives and a stabilizer for social operation, and improve a multi-level social security system that covers the whole people, coordinates urban and rural areas, is fair, unified, safe and standardized, and sustainable. We should regard people’s health as an important symbol of national prosperity and national prosperity, improve people’s health promotion policies, and promote the construction of a healthy China. We should regard education as an important cornerstone of national rejuvenation and social progress, accelerate the modernization of education, build a strong educational country, and run a satisfactory education for the people. We should pay special attention to, care for and care for all kinds of people in difficulty, strengthen the function of social policy, improve the mechanism of social policy and do everything possible to help them solve problems.

　　Safeguarding and improving people’s livelihood in development is a long-term work, with no end, only a continuous new starting point. We should thoroughly study and implement the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, always keep in mind that making people’s lives happy is the "great power of the country", stick to the bottom line, highlight key points, improve the system, guide expectations, take measures with stronger pertinence, wider coverage, more direct effects and more obvious effects, constantly meet the people’s growing needs for a better life, and make positive contributions to solidly promoting Chinese modernization. (This article Source: Economic Daily Author: Ministry of Human Resources and Social Security Party Theory Learning Center Group)

CCTV News:To pay attention to the property market. In May, a number of real estate policies, including lowering the down payment ratio and canceling the lower limit of loan interest rate, were intensively introduced, followed by many cities that followed suit to optimize and adjust local real estate policies. At present, the policy has been implemented for some time. What is the market reaction? In Beijing, the latest data shows that the transaction volume of second-hand houses in Beijing has increased since June due to the influence of policies.

The reporter visited and found that the transaction volume of the second-hand housing market in Beijing recently showed signs of enlargement. In May, the number of online signs of second-hand housing in Beijing reached 13,383, up 3.1% compared with the same period in May last year. In June, market transactions have a further warming trend. According to the latest online signing data, from June 1 to 10, the number of online signing of second-hand houses in Beijing reached 3,127, an increase of 16.2% from the previous month.

Zhao Xiuchi, a professor at the School of Urban Economics and Public Administration of capital university of economics and business, said: "The market turnover has been slightly enlarged, the market has begun to pick up, and popularity has begun to gather. This is the superposition effect of a series of new policies, and the follow-up data may be better."

At the end of April, Beijing adjusted the purchase restriction policy, so that families who have reached the limit can buy an additional house in the Fifth Ring Road. This is the first time that Beijing has relaxed the policy after implementing the purchase restriction policy for many years.

According to industry insiders, since May, the second-hand housing market in Beijing has been generally positive. The number of people looking at houses and the number of contracts signed have increased compared with before, and the growth rate outside the Fifth Ring Road is higher than that inside the Fifth Ring Road. According to the data of Beijing’s largest real estate agency, the number of second-hand housing visitors increased by about 11% compared with the same period of last month, and the contracted volume increased by nearly 32%, among which the transaction volume outside the Fifth Ring Road increased by nearly 37%. Due to the lag of online signing, from the intermediary transaction data in May, the number of online signing of second-hand houses in Beijing may continue to rise in June.

Professor Zhao Xiuchi said: "In the future, with the further reduction of the threshold for buyers to enter the market and the burden of buying houses, we will continue to support the demand for improved housing. I believe that under the superposition of a series of favorable policies, more potential market demand will be released and the market will continue to warm up."

Cancel the maximum price of land, Shanghai property market shows positive changes.

At the end of May, Shanghai announced the implementation of nine real estate optimization and adjustment measures, involving policies such as lowering the social security threshold for foreign household registration and the eligibility of families with many children to buy houses. Since then, the relevant land policies have been adjusted. With the support of a series of policies, the volume of second-hand housing in Shanghai has gradually increased recently, and the popularity of the new housing market has risen, and the market has undergone positive changes.

Recently, Shanghai released the third batch of residential land transfer announcements this year. The land transfer made a major adjustment to the bidding rules, canceling the upper limit requirement of 10% premium rate of commercial residential land. Simply put, it is to cancel the limit of the highest premium rate, let the market determine the land price, and implement the "highest price wins" in land transfer.

Yan Yuejin, research director of Yiju Research Institute, said that the cancellation of premium rate in Shanghai this time is actually an implementation of the "Shanghai Nine Articles" policy, and it is also an adjustment of the overly strict policy in the past overheating period, which fully shows that the current land market has entered the direction of "market belongs to the market and guarantee belongs to the guarantee", which has also greatly promoted the confidence of housing enterprises in land acquisition.

From the market point of view, since the announcement of nine real estate adjustment and optimization measures in Shanghai, buyers and sellers have become more active. The reporter saw in a real estate agency store in Songjiang District that because there were too many people looking at the house, except one or two brokers in the store were responsible for guarding the store, and other brokers went out to show the buyers the house.

According to the data released by official website, Shanghai Real Estate Trading Center, the transaction volume of second-hand houses in Shanghai in May was 18,692 sets, with an average of 602 sets per day, showing a trend of stopping falling and rebounding. Among them, the data of market institutions show that from May 27th to May 31st, driven by the new policy, Shanghai sold more than 3,600 sets of second-hand houses, which was equivalent to the previous week’s volume in five days. Since June, the number of online signs for second-hand houses has also continued to increase, reaching 902 sets on June 6 and 968 sets on June 7.

Song Xiaojuan, a senior manager of a real estate agency, said: "A combination of this policy at present is actually very helpful to improve the confidence of the whole market."

Not only the second-hand housing market, but also the new housing market in Shanghai has recently warmed up significantly. The reporter saw in a new house in Songjiang District that there were many citizens who came to see the house in front of the sand table of the sales office.

According to the person in charge of sales, since the implementation of the New Deal on May 28, the project’s popularity has increased, and the volume of transactions and customer visits have increased by nearly 40%, and the market has obviously been positive.

Guangzhou market activity has been significantly boosted.

At the end of May, on the second day after Shanghai released the New Deal on the property market, Guangzhou also introduced policies to optimize and adjust the property market, including lowering the down payment ratio of the first suite to 15% and canceling the lower interest rate limit. After the policy adjustment, the activity of the market began to increase significantly.

There are more people looking at the house, which is the most obvious feeling of many intermediaries in Guangzhou these days. In a real estate agency store in Tianhe District, Guangzhou, the staff told reporters that in just a few days after the introduction of the New Deal, the number of first-hand houses and second-hand houses has been greatly improved.

According to the statistics of an intermediary agency in Guangzhou, on Sunday, June 2nd, the number of people looking at houses in Guangzhou has reached 3,981, up by about 17.4% month-on-month, and the total number of people looking at houses has reached 17,907 times, which is equivalent to each customer seeing about 4.5 suites on Sunday. From the transaction point of view, May 27th — In the week of June 2, the number of online signing of second-hand houses in Guangzhou increased by 10% month-on-month, setting a new high since April.

According to industry insiders, the policy announced by Guangzhou this time exceeded market expectations. At present, the observation time is too short to fully reflect the policy effect. I believe that after a while, with the further release of the policy effect, the market activity will be further improved.　

Foreign-funded institutions: China real estate market will develop more stably.

With the implementation of various real estate adjustment and optimization measures one after another, the reporter noted that recently, foreign-funded institutions such as Goldman Sachs and Morgan Stanley began to actively pay attention to the real estate industry in China, and their attitudes towards the real estate sector in China changed.

Recently, Xing Ziqiang, chief economist of Morgan Stanley in China, said that the People’s Bank of China set up a refinancing loan for affordable housing, which can not only reduce the inventory of the real estate industry, improve the liquidity problem of developers, better promote the implementation of the property guarantee, but also help reduce preventive savings, thus stimulating real estate consumption. Lin Zhenhong, head of China Mainland and Hongkong Real Estate Investment Research Department of UBS, and Song Yu, chief China economist of BlackRock, also believe that the increasing support of real estate policies has increased investors’ confidence to a certain extent, which is conducive to stabilizing the real estate market. Lu Ting, chief economist of Nomura Securities, made it clear that he saw the hope of clearing the risks in the real estate market, and then saw the hope of macroeconomic stability and even comprehensive recovery.

Yan Yuejin, research director of Yiju Research Institute, said: "In the near future, foreign investment banks have expressed very good attitudes and expectations for China real estate and the overall economic situation, and they are all optimistic about the current situation of China real estate market stabilizing and recovering. At present, some attitudes of major investment banks have turned, and they hold a more positive and optimistic attitude. It should be said that it largely explains some new changes in the current real estate market. "

In addition to policy support, the improvement of market sales data is also one of the important reasons for foreign-funded institutions to pay attention to China real estate market again. Relevant statistics show that since the beginning of this year, the sales volume and sales area of China real estate market have increased to varying degrees. Especially in some first-tier cities and hot-spot second-tier cities, real estate sales have obviously picked up, which has provided strong support for the overall recovery of the market.

With foreign investment actively doing more real estate sectors, the volume of real estate sectors has soared recently, and the turnover of industry sectors has continuously hit a new high. Corresponding to the surge in the real estate sector, well-known foreign-funded institutions have increased their holdings of some real estate stocks and frequently appeared in the research list of real estate enterprises.

Yan Yuejin, research director of Yiju Research Institute, said: "From the voices of some investment banks and overseas institutions and some recent attitudes, it fully demonstrates the recognition, support and affirmation of the real estate market in China. After experiencing this market adjustment, the current real estate market should be said to develop in a more stable and better direction. "

　　CCTV News:According to WeChat official account’s "Ministry of Transport" on WeChat, on July 20th, Henan Province was hit by extremely heavy rainfall. As of 7: 00 on the 21st, 29 sections of 26 expressways, including G4 Beijing-Hong Kong-Macao Expressway, G30 Lianhuo Expressway, S26 Taihui Expressway, G1511 Rilan Expressway and G3001 Zhengzhou Ring Expressway, have been closed, and the recovery time has yet to be determined, with no large number of vehicles and personnel stranded. At present, there are 30 sections of 8 national highways and 8 provincial highways, such as G107 and G234, in Henan Province, which are interrupted by heavy rainfall. The local highway department put safety signs on the closed sections, arranged special personnel to be on duty, and organized personnel and machinery to quickly carry out rush-through operations after the situation stabilized. There were no vehicles, personnel stranded or casualties.

　　The extremely heavy rainfall has seriously affected the operation of Zhengzhou subway. In order to ensure the safe operation of urban rail transit during the flood season, the Ministry of Transport printed the electricity today. The full text is as follows: Emergency Notice of the General Office of the Ministry of Transport on Doing a Good Job in Flood Control of Urban Rail Transit.

　　The transportation departments (bureaus and commissions) of all provinces, autonomous regions and municipalities directly under the Central Government:

　　On July 20th, Zhengzhou Metro stopped the whole network due to the torrential rain, and a train forced to stop the tunnel, causing casualties. Recently, many places in China have ushered in the heaviest rainfall since the flood season. In order to do a good job in flood control of urban rail transit and ensure the safe operation of urban rail transit, the relevant matters are hereby notified as follows:

　　First, attach great importance to flood control work

　　This year’s climate is special, with rare rainfall in many places. In the next 10 days, there will still be heavy rains in North China, Southwest China, Jianghan, Huanghuai and South China, and there will be heavy rains in some areas, and the flood control situation is very severe. Local transportation departments should clearly understand the extreme importance and urgency of flood control in urban rail transit, further improve their political stance, adhere to the people first and life first, always put people’s life safety first, put an end to fluky psychology and overcome paralysis, and do a good job in flood control with a high sense of responsibility, mission and urgency.

　　Second, immediately re-investigate and rectify potential risks.

　　Operating units shall, in accordance with the relevant requirements of the Administrative Measures for Classified Management and Control of Safety Risks in Urban Rail Transit Operation and Management of Hidden Dangers (Transportation Regulation [2019] No.7), focus on the investigation of the capacity of drainage equipment and facilities in key areas such as low-lying stations, transition sections and long-distance sections on the basis of preliminary investigation, and if the capacity is insufficient, it shall be reinforced in time; Check the connection between the drainage pipeline and the surrounding municipal pipe network, and report it to the relevant departments in a timely manner if it has not been connected or connected poorly; Check the blocking situation of the connection between the line under construction and the existing line to prevent rainwater from flowing back to the station section through the line under construction; Strengthen the inspection of slopes along the ground overhead lines and take targeted measures against risks such as loose soil and landslides; Timely check the types and quantities of emergency materials such as sandbags, water baffles and drainage pumps, and supplement and reinforce corresponding equipment and facilities.

　　Third, timely adjust and improve the emergency plan

　　Operating units should fully learn the lessons from the recent rainwater backflow incident, further adjust and improve the emergency plan, and take emergency measures such as stopping trains, evacuating passengers and closing stations in unconventional situations such as exceeding the designed rainstorm intensity. It is necessary to do a good job in communication and docking with meteorological departments and strengthen the collection of information such as floods and meteorological disasters. It is necessary to further strengthen inspection and monitoring, find out the signs of danger in time, scientifically judge the development trend, and start the corresponding grade plan in time.

　　Fourth, strengthen emergency response and disaster relief

　　Local transportation departments should, under the leadership of local party committees and governments, effectively play the role of emergency linkage working mechanism with emergency management, water supply, electric power, hospitals and other units as well as local governments and streets. In case of sudden events such as flooding and backward flow, it is strictly in accordance with the requirements of the Measures for the Organization and Management of Urban Rail Transit (Transportation Regulation [2019] No.14), and those who do not have safe operation conditions should be resolutely stopped; Operating units should make emergency response and information report at the first time according to the requirements of the plan, and the transportation department should promptly notify relevant departments to carry out emergency response work quickly according to the emergency response level to ensure the safety of passengers.

　　V. Resume operations in a safe and orderly manner

　　For the lines with flooding and backward flow, the operating unit should pay close attention to the disposal. After the completion of water pumping and drainage, the equipment system should be thoroughly and carefully investigated, and the damaged equipment should be replaced in time. If necessary, third-party institutions and industry experts can be hired to conduct a comprehensive test and evaluation of the relevant lines. Only after the safety assessment confirms that the conditions for safe operation are met can it be put into operation to prevent secondary disasters.

　　General Office of Ministry of Transport

　　July 21, 2021

Recently, strong convective weather in Guangdong has brought heavy rain, strong winds and even tornadoes, which has attracted the attention of the outside world.

On the afternoon of April 27th, a tornado occurred in Zhong Luotan, Baiyun District, Guangzhou, causing 5 deaths, 33 injuries and 141 factory buildings damaged. At 11 o’clock on April 30, a weak tornado appeared in Qiandong Town, Raoping County, Chaozhou City, which caused some trees in the south of Raoping County to collapse and slightly damaged the workshops of individual enterprises.

The Paper noted that since April 27th, early warnings of possible tornadoes have been issued in Huangpu District and Huadu District of Guangzhou, Xinhui District of Jiangmen City, Duanzhou District, Dinghu District and Gaoyao District of Zhaoqing City. According to the early warning information previously issued by the Central Meteorological Observatory, it is estimated that there will be more than 10 thunderstorms and strong winds in parts of southern Jiangxi, southwestern Fujian, northeastern Guangxi, northern Guangdong and other places from 08: 00 on April 30 to 08: 00 on May 1, with a maximum wind force of more than 12, and there may be tornadoes.

In August 2013, the first tornado research center in China was established in Foshan City, Guangdong Province, mainly to carry out tornado monitoring and early warning tests. On April 30, 2024, Huang Xianxiang, a senior engineer at the Tornado Research Center in Foshan, was interviewed by The Paper (www.thepaper.cn). He said that the tornado in Zhong Luotan, Baiyun District, Guangzhou, caused some casualties because most of the local factories were tin houses, which had poor wind resistance. Therefore, if you encounter a tornado, you should leave as soon as possible and hide in a solid house nearby, especially a reinforced concrete house.

Huang Xianxiang said that tornadoes are very sudden and it is difficult to predict tornadoes. At present, the tornado research in China is in its infancy, and our forecasting and early warning business is still in the experimental stage. However, some features of tornado are relatively obvious, which may be monitored and identified in advance. For example, the tornado brought by typhoon Mangosteen in 2018 and the tornado brought by typhoon Siam in 2022 were all warned in advance.

Huang Xianxiang also reminded that tornadoes must be accompanied by strong convective weather. If there are many strong convective weather backgrounds, the risk of tornadoes will be greater.

[Dialogue with Huang Xianxiang]

Iron houses are weak in wind resistance and easy to collapse.

The Paper:On the afternoon of April 27th, there was a tornado in Zhong Luotan Town, Baiyun District, Guangzhou, which caused heavy casualties. What are the characteristics of this tornado? Why are the casualties more serious?

Huang Xianxiang:First of all, the intensity of this tornado is relatively strong, reaching the level of strong tornado EF 2, so the damage area caused by it is also relatively large, and more than 140 factories are damaged. The casualties were serious, mainly because the tornado was so strong that it blew down the fence and some buildings with weak wind resistance, causing casualties.

The Paper:During the tornado in Zhong Luotan, Baiyun District, Guangzhou, iron houses, trees, high-voltage lines, telephone poles and vehicles were seriously damaged, especially the iron houses, whose roofs were overturned and even their walls collapsed. Combined with the tornado disaster, what should be paid attention to in preventing tornadoes?

Huang Xianxiang:If you encounter a tornado and are in a tin factory building or some other temporary residence that is not very strong at that time, it is suggested that you leave as soon as possible and hide in a solid house nearby, especially a reinforced concrete house, while ensuring safety. Don’t be in a factory building with weak wind resistance or a long-span roof. It is safer to evacuate quickly. Because the tin factory building is easy to collapse, once it collapses, it will cause some damage. Also stay away from tall objects such as fences, telephone poles and trees.

The Paper:Before there is a tornado in a place, can you do some safety hazards investigation? What shortcomings need to be filled?

Huang Xianxiang:A prominent feature of tornadoes is strong wind, and the main safety hazards are houses with weak wind resistance, tin factories or simple fences, as well as trees, billboards and flower pots upstairs. Therefore, in addition to knowing which ones are not wind-resistant, it is also necessary to pay attention to which nearby places are wind-resistant, such as knowing where the nearest concrete building is. If necessary, you can choose to take shelter from severe weather temporarily. After all, safety comes first.

Tornado prediction is difficult, and tornado can do some early warning.

The Paper:Can tornadoes be predicted in advance?

Huang Xianxiang:Tornado prediction is more difficult, because its suddenness is particularly strong, and its scale is very small, and its local characteristics are obvious. It is not a weather system with a large influence range like a squall line, such as sweeping from east to west or from north to south. For example, in a city of several thousand square kilometers, there may be strong weather like tornado only within a few kilometers or hundreds of meters, so it is difficult to monitor the tornado and predict it, but the characteristics of tornado are relatively obvious. In some cases, some early warnings can still be made. Some weak tornado features may not be obvious, its signal itself is weak, and some features will be much weaker.

Our current early warning is mainly based on the weather radar, because the tornado storm will show some unique characteristics in the weather radar image, such as the shape of the echo, it will show a hook echo, or a notch shape, and there will be some obvious rotation characteristics. If it is a strong tornado, its characteristics will be more obvious, so we can still make some early warning. As for how long it can be advanced, according to the specific situation, not every tornado process is the same, and some of them develop very fast, which may suddenly strengthen and suddenly occur. This kind of predicted time may not be advanced, and it may not be seen until a tornado occurs. Or some may only have a few minutes to give early warning. However, if it is a tornado with a long path or not so sudden, we can pay attention to its characteristics earlier. On September 17, 2018, a tornado circulating around the typhoon Mangosteen occurred in Foshan. We paid attention to this situation early, and made an early warning, with an advance of more than 30 minutes, but not every tornado has strong stability or obvious characteristics. Some of them developed too fast and may be displayed on the radar. The last graph is strengthened, and the next graph is weakened, but the tornado may happen during the period of strengthening and weakening, but we can’t see the data during this period, because our data is updated every 6 minutes, and it may happen during this interval, so it is very difficult to warn.

The Paper:Is the information you said that you watch every 6 minutes the information of weather radar?

Huang Xianxiang:Yes, every 6 minutes, the S-band weather radar will produce a scanned image, but now we have set up some small X-band radars, and we can have a picture in about 1 minute, and the echo structure we see will be more detailed. However, the small radar has a weakness, and the echo signal decays very quickly, so many times we can’t see some weather conditions.

The Paper:You mentioned the prediction of weak tornadoes and strong tornadoes earlier, and the signals may be different. How is this weak and strong?

Huang Xianxiang:In fact, it is difficult to monitor the tornado itself, and the intensity of the tornado can only be determined by the damage degree of the disaster on the spot. Why did the tornado in Guangzhou become a tornado this time? This is also determined according to the degree of damage at the scene, for example, a large area of factory buildings was damaged. In the determination process, we also need to look at the quality of the factory building, whether it is a concrete structure or a simple iron factory building. For example, in the disaster-stricken area of Zhong Luotan tornado in Baiyun District, Guangzhou, most of the factories are brick-concrete structures. Based on these factors, we evaluated them as EF 2. We have a measurement standard with different indexes. If the factory building with reinforced concrete structure is razed to the ground, the strength will be greater, maybe EF 4 strength is even stronger. According to the damage degree caused by the tornado scene, its strength is determined. If only some trees are broken, it is the weakest grade of EF1 or EF 0, so the strength is determined according to the damage degree.

The Paper:For this tornado in Zhong Luotan Town, Baiyun District, Guangzhou, what signs did it have before?

Huang Xianxiang:In radar images, there are some echo features of tornadoes, such as hook echo structure and rotation.

The Paper:From the meteorological point of view, the tornado in Zhong Luotan is a tornado. Is it a tornado that can be predicted in advance?

Huang Xianxiang:The characteristics of tornado may be more obvious before and after the occurrence, so its advance will not be very long, and it may take a few minutes at most.

The Paper:We noticed that on the afternoon of April 27th, before the tornado occurred in Zhong Luotan, Baiyun District, Guangzhou, there might be a tornado warning in Huadu District, Guangzhou, but there was no tornado warning in Baiyun District. Is this because it is difficult to predict the tornado accurately at present?

Huang Xianxiang:Tornado warning itself is full of challenges. It is understood that at that time, Baiyun District issued a high-level orange warning signal for thunderstorm and gale and an orange warning signal for hail to remind the public to guard against extreme gale and hail weather.

Domestic tornado research is still in its infancy.

The Paper:What is the current level of tornado prediction and research in China?

Huang Xianxiang:At present, the tornado warning business in many places is still in the experimental stage, because this work is full of challenges. The United States has established an advanced tornado warning and forecasting business, because there are high frequency tornadoes there, and there are more than 1000 tornadoes every year, and they have studied tornadoes for more than half a century, and our research is still in its infancy.

The Paper:Typhoon seems to have a path. Is the path of tornado clear?

Huang Xianxiang:Because typhoon is a weather scale system with a diameter of hundreds to thousands of kilometers, its typhoon cloud system can be seen on the satellite cloud picture, and even the typhoon eye area can be clearly distinguished. Combined with a variety of observation data, the typhoon center can be located and the moving path of the typhoon can be given.

Tornado is a small-scale vortex system extending from thunderstorm clouds, which is small in scope, fast in birth and disappearance, and often dissipates due to the friction of the underlying surface during the moving process, so the path of tornado often jumps, which is difficult to identify from the weather radar. We need to give the moving path of tornado mother storm through weather radar, then find out the possible whereabouts of tornado according to the characteristics and reporting information of mother storm, and then carry out on-site aerial photography and disaster adjustment of tornado damaged area to draw the approximate path of tornado.

The Paper:What is the early warning situation of tornadoes in Guangdong in recent years?

Huang Xianxiang:In recent years, by studying the weather characteristics of historical tornadoes in Guangdong, the early warning technical indicators of tornadoes in Guangdong have been preliminarily summarized. In the early warning practice, in addition to predicting the tornado in the circulation of Typhoon Mangosteen in 2018, the tornado brought by Typhoon Siam in 2022 was also warned in advance.

The Paper:Is it difficult to predict other tornadoes?

Huang Xianxiang:Right. Because some features burst too fast, suddenly occur, and suddenly weaken, they may just be seen and disappear in the radar image the next second. Sometimes it is discovered after receiving the report that such weak features can also produce tornadoes; Sometimes early warning of tornadoes with strong signal characteristics may not produce tornadoes in the end, but only local strong winds.

The Paper:Will the warning range of tornado be larger than the actual range?

Huang Xianxiang:The United States is the country with the highest level of tornado warning, and so far the warning range of tornadoes in the United States is often larger than the actual impact range. Our current practice is similar, mainly based on weather radar combined with automatic weather stations to comprehensively judge the dynamic evolution trend of tornado mother storm, so the early warning range may be larger than the actual range. However, it also depends on the specific situation. It is also possible that the activities of tornadoes exceed the warning range, and the actual impact range needs to be evaluated according to the moving path and damage range of tornadoes.

There are many strong convective weather, and the risk of tornado may be higher.

The Paper:In recent years, extreme weather has occurred frequently, which has also caused disasters in some places. This round of heavy rain in Guangdong, strong convective weather, rainfall in many places broke the extreme value of accumulated rainfall in April. Will this strong convective weather and extreme climate lead to more tornadoes?

Huang Xianxiang:Tornado itself belongs to the most extreme and intense kind of severe convective weather. In other words, strong convective weather may not necessarily produce tornadoes, but tornadoes must be accompanied by strong convective weather. If there are many strong convective weather backgrounds, the risk of tornado is higher.

In addition to the strong convective weather background, the tornado is also related to some atmospheric conditions. For example, in addition to the intersection of cold and warm air currents, sufficient energy and water vapor transportation, it is also required that there is a strong wind in the middle and low altitude, which is what we usually call a "jet stream" to form a strong vertical wind shear, which is conducive to the occurrence of tornadoes. In addition, it depends on whether the geographical location and terrain conditions are suitable for the formation of tornadoes. For example, the possibility of tornadoes in mountainous areas is relatively small, because tornadoes often occur in flat plains, and mountainous areas will weaken the occurrence and development of tornadoes.

The Paper:Under the background of frequent extreme weather, will tornadoes present new features and changes?

Huang Xianxiang:It is not that tornadoes will produce new changes. Maybe the weather will be extreme in one year, and the number of tornadoes will increase this year, but it is also possible that tornadoes will rarely appear next year. It can only be said that there is a certain correlation between the occurrence of tornadoes and abnormal weather, but it is difficult to sum up a long-term and trending change feature from it, which needs more information for further study. It is not possible to draw a new change and new feature of a tornado from the phenomenon of a certain year, but it takes a period of time to analyze the phenomenon and get the result.

The Paper:According to the forecast of meteorological department, from April 30th to May 1st, there will be thunderstorms and strong winds, and there may be tornadoes in some areas such as southern Jiangxi, southwestern Fujian, northeastern Guangxi and northern Guangdong. Can the tornado situation behind be predicted or analyzed?

Huang Xianxiang:Because the weather situation is very unstable these days, due to the combined effects of cold air and high-altitude trough, there may be thunderstorms, strong winds, hail and heavy precipitation, and the possibility of local tornadoes is not ruled out. For example, on the morning of April 30th, a tornado happened in Chaozhou, East Guangdong.

The Paper:Is it possible for a tornado to happen in a crowded place in the city center? Why?

Huang Xianxiang:Tornadoes are easy to occur in open and flat areas, and hilly, mountainous and tall buildings are not conducive to the development of tornadoes. There are generally high-rise buildings in the city center, which is not conducive to the occurrence and development of tornadoes. Of course, it is not excluded that some rare tornadoes occur in cities, but most tornadoes still occur in open areas. Moreover, most buildings in cities are reinforced concrete structures, which are relatively strong and safe. The probability of tornado itself is not high, and the probability in the central city is even lower. Therefore, the residents in the city need not worry too much, and they can feel more at ease by mastering certain knowledge of natural disasters such as strong winds.

The Paper:What should the public pay attention to when facing tornadoes?

Huang Xianxiang:If you are at home, stay away from doors, windows and external walls of houses and hide in the room opposite to the tornado. If there is a basement or semi-basement, it will be safer to hide there.

If you are in a temporary shed or tin house, you should leave as soon as possible and look for a solid house to escape.

If you are in the wild, you should find a low-lying area as soon as possible, hold your head down to avoid it, and stay away from trees, billboards, fences, etc. to avoid being injured by them.

If you are in a car, when the distance is far away, you should drive to the place opposite to the tornado route as soon as possible; When you are too close to escape, you should leave the car as soon as possible, look for low-lying areas, and hold your head down to avoid. Because the intensity of the tornado can roll the car into the sky, the car is not a safe zone.

　　At the end of January 2008, the Yanzhaomen incident broke out, and nude photos of Edison Chen, Gillian (Zhong Xintong) and Cecilia Cheung were exposed. Edison Chen, Gillian, and Cecilia Cheung all responded to this storm by quitting the entertainment circle, and they all came back in unison. Now, Edison Chen has a stable relationship with the girlfriend of the shop assistant but denies the marriage news. Gillian broke up with her Korean boyfriend, and Cecilia Cheung took care of her two sons alone. During these five years, what kind of life did they live under the shadow of this storm?

　　Edison Chen: There is little hope of filming, focusing on the tide shop business.

　　2 years in exile, 1 movie was changed.

　　At the beginning of the pornographic photo gate, the original movie "Jump Out" starring Edison Chen was completely deleted, and the movie was re-filmed, starring Leon Jay Williams. On February 21st, 2008, Edison Chen apologized to the injured actress and the public for the Yanzhaomen incident, and announced that she would "quit the entertainment circle indefinitely". On March 17, 2010, he announced his official comeback, which caused a buzz among netizens. In fact, as early as 2009, when he was interviewed by CNN, he explained the word "indefinite" like this: "This can be interpreted as 5 minutes, or it can refer to 2000. I never said forever. "

Edison Chen conference said that he would quit the entertainment circle indefinitely.

　　2 identity 8 jiachao branch

　　Shoppers: In 2003, Edison Chen, who had just entered the entertainment circle, founded his own original brand CLOT and related groups. This may have been an unintentional move at that time, but it became an important source of support for his livelihood after the Yanzhaomen incident. CEO: In 2007, Edison Chen established the multimedia company CMD and served as CEO. This company not only operates some trendy creative activities, but also works as a record broker. Besides Edison Chen himself, its artists include the influential farmer group in Cantonese hip-hop (who left in 2010) and He Chaoyi, the artist’s daughter of gambling king Stanley Ho. During the two years of exile in Edison Chen, this company has produced records for them.

　　In the days away from the entertainment circle, Edison Chen put all her energy into running a trendy shop. His original brand CLOT has five stores. In addition to direct stores, he also cooperated with other brands to establish United Tide Store, including two trendy stores in Taipei and Shanghai with Disney and one in Taipei with American Tide Brand.

　　At least 7 acupoints and 9 endorsements

　　Because of Edison Chen’s status as a pioneer in fashion and the owner of original fashion brands, there are still a few big brands looking for him as their endorsements, including Japanese fashion brands and sports brands. As for brand endorsements such as perfume, watches and computers, they are also well-known brands. The only exception is that he endorsed a mainland company last year, and the advertisement that was just put on the shelves was removed.

　　When the public became more and more accustomed to Edison Chen’s appearance in the news pages, he began to sing many times in the mainland, and most of the places where he performed were bars. In addition, he sang hip-hop songs at the Shanghai Hot Wave Music Festival in 2011, the Chengdu Daai Music Festival in 2012 and the Shanghai concert sponsored by the brand.

　　2 genuine girlfriends, at least 7 gossip girlfriends.

Edison Chen and his current girlfriend Hong Wenan.

　　His real girlfriend was Yang Yongqing, the niece of Yang Shoucheng, the emperor’s boss, and she had an affair with Edison Chen in 2006. When the scandal broke out in 2008, Yang Yongqing, who was seven years younger than Edison Chen, was studying in the United States. Although her nude photos were exposed due to the incident, she still chose to stay with Edison Chen for the next three years, but she could not escape the fate of breaking up.

　　In September 2012, Edison Chen took a photo with a temperament beauty on a social networking site, and then their love affair was revealed by the media. This woman is Ann, a clerk of his Taiwan Province Chaodian, and her relationship has been stable so far. During this period, Edison Chen also took her to see Huang Qiusheng, michel platini, which seems to be very positive about her girlfriend’s status. He denied the news of the marriage twice.

　　During the period from breaking up with Yang Yongqing to being with Ann for more than a year, he had at least seven gossip girlfriends reported by the media, ranging from small-brand actresses to young models, rich second-generation women, mainland rich women and even the proprietress in izakaya. Although there may be many people who borrowed him to speculate on the upper position, they also printed the old saying: flies don’t bite seamless eggs. Especially in 2011, Xie Zhihui, a 16-year-old Hong Kong supermodel, came out to take a close photo with him, and almost repeated the photo shoot.

　　0 movies and 2 records

　　Shooter, the film starring Edison Chen, was filmed before the pornographic photo gate, but it was not released in Hong Kong until April 2009, and it was hopeless to be released in the mainland. In 2008, when he was far away from the United States, he ran a walk-on in Batman the Dark Knight. His appearance time was only 3 seconds and his lines were only one line. In 2010, it was reported that he and Hollywood Chinese actress Hu Kaili starred in the love movie "Almost Perfect", but it has not been released yet. In 2012, XX Entertainment took an exclusive photo of him shooting a micro-film called X Flywheel in Beijing, and there was still no news.

　　Edison Chen, who loves hip-hop, has been trying to express herself with music. In October, 2010, he released his debut album Conquest, and in July, 2012, he released his album Three Angles, because both of them took the hip-hop route rather than the road love songs, and his two albums had limited repercussions in the entertainment circle.

CCTV News:In order to further promote the development of the language service industry, expand the export scale of language services and enhance the national language service capacity, the Ministry of Commerce, the Ministry of Education and other departments have built a number of language service export bases this year, which have made continuous progress in technology while cultivating language translators.

Liu Junrong is an English translator, majoring in language from undergraduate to graduate. Her first part-time job was not as an English tutor, but as a part-time translator on a language website.

Liu Junrong, an English interpreter in the translation center of a language information technology company in Sichuan;The business volume is very large, and there are many fields and languages. Because I am engaged in English, I chose the social science field that I am interested in, so that I can earn some pocket money and improve my study skills.

JUNG WOO, Product Manager of R&D Center of a Language Information Technology Company in Sichuan:This is the data of our backstage delivery. It can be seen that the delivery volume in the past 30 days is around 7,866 orders, and the delivery time is mainly concentrated from Monday to Friday, and the highest single day may reach more than 300 orders.

This company was recognized as an export base for language services by the Ministry of Commerce this year, with "language talent training and employment" as the core, and actively cooperated with many universities in Sichuan and Chongqing. The overseas income has increased significantly compared with 2020, with more than 3,000 foreign-related orders.

　　　　　　 Zhu Xianchao, Chairman of a Language Information Technology Company in Sichuan:In the future, we will actively expand overseas markets and plan to open branches or offices in Southeast Asia, Europe, Africa and other places to provide more convenient localization services for China enterprises to go overseas and overseas enterprises to invest in China.

Language translation needs not only the cultivation of talents, but also the improvement of technology. In a translation company in Hubei, an English manuscript of about 5,000 words only needs to be uploaded with one click, and each order has a customized translation payment scheme, and the order also relies on big data for intelligent distribution.

Xie Fei, a translator of a translation company in Hubei:Orders can be placed all over the world, because the whole process of this project is automated, so the time will be very short. They split a project into dozens or even hundreds of projects and recommend it to thousands of translators at the same time.

In recent years, with the continuous spread of overseas epidemic, the environment of international trade and cross-border communication has changed, which has a certain impact on the development of interpretation services such as overseas interpreters’ stationing and exhibition services. In the face of sudden challenges, this company chose to persist in continuous research and development in technology and strive to surpass the curve.

He Zhengyu, Dean of the Research Institute of a translation company in Hubei:We are not limited to machine translation, but also introduced AI technology and our own machine translation engine. The amount of data used by the overall vertical engine may have exceeded 1 billion. In this case, the number of projects that one person can trade at the same time will become a lot.

Russian customers of translation platform:The translation of a 200,000-word tender document takes one week in the traditional mode, and this platform can be shortened to less than 24 hours, which will gain more time for our enterprise.

　　Xinhua News Agency, Beijing, August 10th Question: What is the secret of "Bird’s Nest" and "Water Cube"? — — Revealing China’s Solution to the Problems in the Operation of Venues in the Post-Olympic Era

　　Xinhua News Agency reporter Zhang Xiao, Wang Yong

　　Olympic venues are an important foundation for hosting the Olympic Games. Looking back on the history of the world Olympic Games, almost all the main venues of the previous Olympic Games presented a wonderful and extraordinary "A" side during the games. However, due to the large amount of construction funds, large construction scale and high maintenance cost, it has become a world problem to solve the "B" aspect of the utilization of Olympic venues after the games.

　　On the 11th anniversary of the opening of the Beijing Olympic Games, reporters came to the National Stadium "Bird’s Nest", the National Aquatics Center "Water Cube" and the National Speed Skating Hall "Ice Ribbon" under construction, looking for a "China solution" to solve the world’s problems.

　　"Bird’s Nest" and "Water Cube" Show "Money Bag"

　　Although it has been 11 years since the 2008 Beijing Olympic Games, thousands of tourists still come to the core area of Beijing Olympic Park in August. As an Olympic landmark with a population of nearly 1.4 billion, it has never lacked popularity.

　　However, as the iconic venues of the Beijing Olympic Games, the construction cost of the "Bird’s Nest" and "Water Cube" is high, and it is not a small expense to ensure the high-quality maintenance of the venues. Can the "money bags" of these two Olympic venues hold up under the difficult circumstances of the world’s large-scale Olympic venues?

　　The reporter learned from the National Stadium Company that the operating income of "Bird’s Nest" in 2018 was 268 million yuan, which completely covered the operating costs such as depreciation of fixed assets, operation and maintenance fees, sales and management fees, and achieved independent profits for many years. The National Aquatics Center Company said that in 2018, the "Water Cube" achieved a revenue of 124 million yuan, and the venue broke even for many years.

　　"Three Mysteries" of Managing "Bird’s Nest" and "Water Cube"

　　What is the management of "Bird’s Nest" and "Water Cube"? The reporter learned from in-depth interviews that what makes the two Olympic venues truly achieve sustainable development is the innovation of brand activities and the improvement of quality.

　　— — Undertake major international events. After the Beijing Olympic Games, the "Bird’s Nest" and the "Water Cube" launched a comprehensive market-oriented operation exploration. "Bird’s Nest" has become a professional venue for hosting top sports events with its first-class facilities and operational advantages. Many high-level individual events under FINA have settled in the "Water Cube".

　　— — Establish a diversified development system. "Bird’s Nest" and "Water Cube" have formed a comprehensive business system including large-scale activities, tourism services and commercial development. Take the "Bird’s Nest" as an example. First, strengthen the development of tangible assets. The Bird’s Nest Cultural Center not only becomes a public cultural space in the capital, but also incubates innovative and entrepreneurial projects in the cultural and sports industry. The second is the development of intangible assets, constantly promoting advertising sponsorship and the development of cultural and creative products. The third is to extend the industrial chain of venues, and set up five subsidiaries around the "Bird’s Nest", including ticketing, commerce, activities, media and culture, so that the "Bird’s Nest" has the export conditions for venue management.

　　— — Cultivate independent brand projects. "Water Cube" has built a sub-brand of art exhibition "Art Water Cube" and a sub-brand of cultural performance "Dream Water Cube", and transformed itself from a sports venue into a platform for cultural and artistic exchange. After the country announced the goal of "300 million people participating in the ice and snow sports", the two major venues also created mass sports brands such as "Meet 2022" Ice and Snow Culture Festival, which enabled the Olympic venues to "get on the international stage and enter the people’s lives".

　　According to statistics, after the opening of the two venues, they received more than 56 million Chinese and foreign tourists and visitors, and held more than 3,400 events such as various competitions, performances, exhibitions and national fitness activities.

　　The post-match operation of stadiums and gymnasiums is a process of gradual industrialization and enterprise

　　The "Bird’s Nest" and "Water Cube" have a bright "report card", which benefits from the strong leadership and scientific judgment of the venue owners.

　　As the earliest state-owned enterprise in Beijing to enter the cultural and sports industry, Beijing State-owned Assets Management Co., Ltd. summed up the "China experience" to solve the problem of the utilization of Olympic venues after the games.

　　"The post-match operation of stadiums and gymnasiums should be a process of gradual industrialization and enterprise, but the post-match operation of many stadiums and gymnasiums is still a pure government act. Once the large-scale event is over, it is difficult for the venue to balance social and economic benefits. " Wu Xiaonan, vice president of Beijing State-owned Corporation, pointed out the crux of the problem.

　　Wu Xiaonan said that the operation experience of "Bird’s Nest" and "Water Cube" proves that super-large stadiums need to introduce large-scale platform enterprises, especially comprehensive investment and financing platforms as venue operators, and bring resources for the integrated development of culture, sports, finance, venture capital and other industries for the development of stadiums, rather than simply turning stadiums into a company.

　　In order to operate the two major venues well, Beijing State-owned Assets Corporation has laid out the layout with the whole cultural and sports industry in mind, and coordinated the advantages of its capital cultural and sports industry flagship enterprises, digital vision technology and service providers and national A-level professional performance institutions on the Olympic venues. At the same time, Beijing SME Credit Re-guarantee Company in the financial sector set up the National Cultural and Creative Experimental Zone Enterprise Credit Promotion Association to promote the long-term operation of the Olympic venues through "combination boxing" with complementary resources.

　　"Facts have proved that this model is conducive to giving full play to the role of large state-owned enterprises. While ensuring the completion of important tasks, it can achieve a double harvest of social and economic benefits through enterprise management and integration of various formats." Wu Xiaonan said.

　　At the beginning of the construction of "Ice Ribbon", the problem of post-game utilization was considered.

　　In order to build the iconic new venue of Beijing Winter Olympics and the National Speed Skating Gymnasium "Ice Ribbon", Beijing established "Beijing National Speed Skating Gymnasium Management Co., Ltd.".

　　Wu Xiaonan, who is also the chairman of the National Speed Skating Hall Company, said that the "Ice Ribbon" was fully considered at the beginning of its construction. In addition to becoming a speed skating competition venue during the games, it can meet the needs of six kinds of ice sports competitions such as speed skating, short track speed skating, figure skating and curling, and can also meet the national fitness needs of 3,000 people skating at the same time.

　　At the end of this year, 22 flowing ice ribbons of the National Speed Skating Museum will fly in the Beijing Olympic Park, and together with the majestic steel structure "Bird’s Nest" and the flexible membrane structure "Water Cube", they will form the landmark building complex of "Double Olympic City".

　　Peng Yue, chairman of Beijing State-owned Assets Corporation, said: "Pass ‘ Bird’s Nest ’ ‘ Water cube ’ ‘ Ice ribbon ’ We hope to provide the international community with the Olympic venues after the Games ‘ Repeated utilization, comprehensive utilization and sustainable utilization ’ China’s experience, this is ‘ Four self-confidences ’ A vivid manifestation of implementation in practice. "

　　International Olympic Committee President Bach once commented: "China has every reason to be proud of its Olympic legacy."

　　The insiders believe that the post-games operation and sustainable utilization of Beijing Olympic venues have set a new example of benign interaction and win-win development between the Olympic Movement and cities and regions, benefiting the people for a long time. Continuing this road of sustainable development of the Olympic mega-stadiums with China characteristics will show more wonderful China to the world.

Military guidance theory is the basic follow-up to lead military practice. Since the 18th National Congress of the Communist Party of China, General Secretary of the Supreme Leader, as the core of the Party, the commander-in-chief of the army and the leader of the people, has created and formed the thought of strengthening the army by the Supreme Leader with distinctive characteristics of the times and China characteristics in the magnificent military practice, and realized that the party’s military guiding theory keeps pace with the times again.

The supreme leader’s thought of strengthening the army has guided the construction of the people’s army in the new era and made historic achievements

Socialism with Chinese characteristics has entered a new era, so has national defense and army building. In the practice of governing the country, the General Secretary of the Supreme Leader led the people’s army to rebuild and rebuild in an all-round way, promoted the "four modernizations" of the army in an all-round way, and opened up a grand foundation to support the rejuvenation of a powerful country on the journey of strengthening the army and rejuvenating the army.

Military reform is extraordinary and a historic breakthrough has been achieved. Breaking and then standing, breaking and standing, and hoofing and stepping steadily are the distinctive features of our party building and army management in the new era. Facing the complicated and profound changes in the international situation and national security environment, and facing the institutional obstacles, structural contradictions and policy issues that have long restricted national defense and army building, General Secretary of the Supreme Leader made a strategic conclusion that "deepening the reform of national defense and army is the requirement of the times to realize the Chinese dream and the dream of strengthening the army, the only way to strengthen the army and the key measure to determine the future of the army". He personally led, personally designed and personally promoted the military reform in the overall deployment of the reform of the party and the state, initiated an unprecedented overall revolutionary change in the history of our army, and fought "three major battles." The first was the "above the neck" reform, which established the leadership and management system of "Central Military Commission-services-troops" and the operational command system of "Central Military Commission-war zone-troops", breaking the long-standing headquarters system, military region system and continental army system. The second is the "below the neck" reform, which reduces the number of military personnel by 300,000, greatly simplifies the non-combat institutions and personnel of the military, and implements the "army-brigade-battalion" system for the main combat troops, changing the long-standing land-based and homeland-defensive forces. The third is the military policy system reform, which systematically promotes the policy system reform in the four major areas of party building, strength application, strength building and military management, and establishes and improves Socialism with Chinese characteristics’s military policy system. The three reform campaigns are interlocking, and the people’s army has been completely transformed and has a new look.

The army building is extraordinary and a historic leap has taken place. In the face of the army’s long-standing abuses for a period of time, the Supreme Leader General Secretary gained insight into the problem from a political perspective, personally led the Gutian Army’s political work conference, set up a general plan for building the army politically, unswervingly promoted political training and consolidation, seriously investigated and dealt with serious cases of violation of discipline and law by senior cadres, completely eliminated the pernicious influence, and the people’s army was reborn from the ashes and the political ecology was fundamentally reversed. Promote the implementation of the strategy of strengthening the army through science and technology, seize the key of national defense science and technology innovation, establish the strategic basis of independent innovation, greatly strengthen basic research and original innovation, and realize the transformation of national defense science and technology and weapons and equipment construction from running side by side to running side by side. Promote the implementation of the strategy of strengthening the army with talents, build a new military talent training system, innovate military human resource management, and recruit outstanding talents from all walks of life to join the cause of strengthening the army. Grasp the core and foundation of all the work of the army, grasp the leadership and party building work of the army, and promote the grassroots construction of the people’s army to make great progress. We will step up efforts to administer the army according to law and strictly manage the military, speed up the construction of a military legal system with China characteristics, continue to rectify the "four winds" and the "Five-odd" problems, and promote the gradual and fundamental transformation of the way of administering the army. The "combination boxing" formed by a series of major measures has made a comprehensive situation and a long-term trend, which has continuously improved the quality and efficiency of people’s army building in the new era.

The military struggle was extraordinary and achieved historic results. Since the 18th National Congress of the Communist Party of China, new complex and profound changes have taken place in the international pattern. The General Secretary of the Supreme Leader has profoundly grasped the general trend of national security, engaged in relations among major powers, led the people’s army to calmly respond, firmly grasped the opportunities of military competition, and always controlled the initiative of military struggle. The preparations for military struggle have taken on a new look. Leaders formulate military strategic guidelines for the new era, strengthen the overall guidance of military struggle, focus on winning battles, make in-depth preparations for fighting in all directions and fields, and be vigorous and promising in expanding the depth of active defense strategy, accelerating the military forces to go abroad, and managing new security fields. Command a series of major military operations, effectively resolve possible war risks, earnestly safeguard national sovereignty, security and development interests, boost national prestige and military prestige, and enhance national self-confidence and pride.

The supreme leader’s thought of strengthening the army is the latest achievement of the Communist Party of China (CPC)’s military guidance theory advancing with the times

The supreme leader’s thought of strengthening the army made profound strategic thinking on all aspects of national defense and army building, made scientific and long-term strategic plans, and profoundly expounded a series of fundamental issues such as the goal direction, mission, strategic layout, fundamental direction and important path of strengthening the army, forming a scientific theoretical system with rich ideological connotation and profound implications.

Focus on rejuvenating the country and make a new summary of the goals of the people’s army. The supreme leader’s thought of strengthening the army points out that the party’s goal of strengthening the army in the new era is to build a people’s army that listens to the party’s command, can win battles and has a good work style. It must be consistent with the process of national modernization, and strive to basically realize the modernization of national defense and the army by 2035, and build the people’s army into a world-class army in an all-round way by the middle of this century. This profoundly answered the question of what kind of people’s army to build in the new era and laid the "theoretical cornerstone" of the supreme leader’s thought of strengthening the army in one fell swoop. In the practice of building and managing the army, the general secretary of the supreme leader’s exposition on the goal of strengthening the army has been developing continuously, especially the 19th National Congress of the Communist Party of China has made new strategic arrangements for comprehensively promoting national defense and army modernization. The Fifth Plenary Session of the 19th CPC Central Committee proposed to speed up the modernization of national defense and the army, and ensure the realization of the centennial goal of building the army in 2027, which further pointed out where the people’s army will go and where it will develop, and made clear the goal direction for the people’s army to break the waves on a new journey.

Focus on great struggle, keep pace with the times and innovate military strategic guidance. The supreme leader’s thought of strengthening the army profoundly expounds that strengthening the country and the army must be strategic first, and clearly points out that the strategic goal of the party and the country is to achieve the goal of "two hundred years" and realize the great rejuvenation of the Chinese nation at present and for a long time to come. Innovative development of military strategic guidance must firmly grasp this fundamental focus, strengthen military strategic operation and improve the level of military strategic guidance. This military strategy is a general plan to take the overall situation into consideration, balance the opponents and win the war. Its spiritual essence is to ensure that the army effectively performs the mission entrusted by the party and the people, and provide strategic support for consolidating the Communist Party of China (CPC)’s leadership and socialist system, defending national sovereignty, unity and territorial integrity, safeguarding national overseas interests and promoting world peace and development.

Strengthen the Party’s absolute leadership over the people’s army with an eye on the eternal stability of the country. The supreme leader’s thought of strengthening the army emphasizes that the party’s absolute leadership over the army is the foundation of the people’s army and the soul of strengthening the army. It is necessary to comprehensively implement a series of fundamental principles and systems of the party’s leadership over the army to ensure the absolute loyalty, purity and reliability of the army. Adhering to the party’s absolute leadership over the people’s army at the 19th National Congress of the Communist Party of China is defined as a basic strategy for upholding and developing Socialism with Chinese characteristics in the new era. The Fourth Plenary Session of the 19th Central Committee of the Communist Party of China regards "upholding the party’s command of guns and ensuring the people’s army’s absolute loyalty to the party and the people" as a remarkable advantage of the national system and the national governance system, and clearly proposes to uphold and improve the party’s absolute leadership over the people’s army. The implementation of the chairman responsibility system in the Central Military Commission is the fundamental form of upholding the party’s absolute leadership over the people’s army. The highest leadership and command of the army belongs to the CPC Central Committee and the Central Military Commission, and the national armed forces are under the unified leadership and command of the chairman of the Military Commission. All these are significant theoretical and political contributions, which indicate that Socialism with Chinese characteristics’s basic military system is more mature and stereotyped.

Focus on the overall situation of the cause and creatively optimize the layout of strengthening the army. The supreme leader’s thought of strengthening the army puts the army construction in the overall situation of the party and the state, thinking, planning and scientific deployment. From "deepening the political army building, reforming and strengthening the army, and managing the army according to law" to "persisting in the political army building, reforming and strengthening the army, managing the army according to law" and then "persisting in the political army building, reforming and strengthening the army, strengthening the army through science and technology, strengthening the army with talents and managing the army according to law", the layout of strengthening the army has been continuously expanded and optimized. This layout of strengthening the army is the embodiment of our party’s strategic layout of governing the country and politics in the new era in the military field. It has grasped the strategic key issues supporting the strengthening of the army, defined the fundamental guarantee, key move, powerful motivation, strategic resources and the guarantee of the rule of law for strengthening the army, and set up a four-pillar, eight-pillar and backbone framework for the cause of strengthening the army.

Focus on winning the battle and comprehensively strengthen training and preparation. The inherent characteristic of military guidance theory is to seek and win. The supreme leader’s thought of strengthening the army emphasizes that the army should prepare for war, and must comprehensively improve its ability to prepare for war in the new era, effectively shape the situation, control the crisis, contain the war and win the war. These expositions reveal the fundamental direction of strengthening the army in the new era and constitute the "theoretical core" of the supreme leader’s thought of strengthening the army. The army is born of war, and the preparation for military struggle is the basic practical activity of the army. The supreme leader’s thought of strengthening the army clearly puts forward the only fundamental standard of firmly establishing combat effectiveness, which requires that the combat effectiveness standard should run through the whole process and all aspects of army building, pay great attention to actual military training, make solid preparations for military struggles in all directions and fields, gather together to build elite combat forces, and carry forward the fighting spirit of not being afraid of hardships and not being afraid of death. These important expositions are of great significance for correcting the center of gravity and direction of army building and development, forming a direction that all minds focus on fighting and all work focuses on fighting hard, and promoting the people’s army to fully leap forward in winning the war.

Focus on enriching the country and strengthening the army, and promote the simultaneous improvement of national defense strength and economic strength. Dealing with the relationship between the coordinated development of national defense construction and economic construction is a common topic in the governance of great powers at all times and at all times, including both profound lessons and good experiences. The supreme leader’s thought of strengthening the army integrates national defense and army building into the national economic and social development system, and emphasizes the combination of development and security, economic construction and national defense construction, the unification of enriching the country and strengthening the army, making full use of all superior forces and resources to build an integrated national strategic system and capability. In the new era, the cause of strengthening the military is rooted in the deep soil of the rapid development of the country’s economy and society. With the strong strength of the country’s economy and science and technology, and the majestic strength of the whole society, the modernization of national defense and the military will surely add wings and advance by leaps and bounds.

The supreme leader’s thought of strengthening the army is a vivid Marxist military theory in the 21st century.

In the new era, which is a special historical period of great changes in the world, great development of the country and great military competition, the supreme leader’s thought of strengthening the army applies Marxism to observe and reflect China’s military practice, reveals and reflects the objective laws of military activities in the world today, and makes great original contributions to enriching and developing Marxist military theory. This thought not only adheres to the basic viewpoints of Marxism on war and military issues, but also adheres to our party’s consistent guiding ideology and major principles for building and managing the army. It also closely combines the characteristics of the new era and practical development, absorbs the essence of Chinese excellent traditional military culture, draws on the outstanding achievements of world military theory, sublates scientific theories, and forms the achievements of military civilization with China style and China style.

The supreme leader’s thought of strengthening the army profoundly answered the question of the times when a strong country must strengthen the army. To cope with the great changes in the world in the past century and ensure that China is invincible in the fierce international military competition, it is required that the army must accelerate the transformation from a "big country army" to a "powerful country army." At present, the international strategic pattern is deeply adjusted, and the overall competition and overall contest between countries are more prominent. The more complicated the situation, the better the military skill. At present, national security is facing one kind or another of risk challenges, the possibility of war and chaos at home is real, and the task of safeguarding national unity and social stability is arduous and arduous. We must dare and be good at carrying out great struggles with many new historical characteristics. A strong army is an inherent requirement and an important symbol of a strong country. A strong army is needed to deter and stop the war, and a strong army is needed to provide support for the country’s prosperity and development. The supreme leader’s thought of strengthening the army focused on strengthening the army and put forward many strategic and original ideas, comprehensively and systematically answered the historical and epochal topic of supporting the country with strengthening the army, and opened up a new realm of China-ization of Marxist military theory.

The supreme leader’s thought of strengthening the army further enriched the party’s military guidance theory treasure house. The Communist Party of China (CPC)’s military guidance theory is a scientific summary of the practical experience of China’s revolutionary war, people’s army and national defense construction, and the crystallization of the collective wisdom of the whole party and army. It is in the same strain and keeps pace with the times with the changes of the times and the development of practice. Our party has gone through a hundred years of struggle, and in the course of commanding guns by the party, it has successively formed Marxist military theoretical achievements with China characteristics, such as Mao Zedong’s military thought, Deng Xiaoping’s army building thought in the new period, Jiang Zemin’s national defense and army building thought, and Hu Jintao’s national defense and army building thought. Based on Do not forget your initiative mind’s political consciousness and radical theory, the supreme leader’s thought of strengthening the army scientifically summarizes the basic experience of our army’s construction and development, profoundly reveals where the people’s army came from and why it went from victory to victory, and at the same time puts forward a series of new ideas, new ideas, new theories and new requirements in response to the needs of the new era, realizing a major breakthrough and innovation in the party’s military guidance theory, and highlighting the political and theoretical inheritance of the Communist Party of China (CPC) people in the past 100 years.

The supreme leader’s thought of strengthening the army shines with the truth of dialectical materialism and historical materialism throughout. The supreme leader’s thought of strengthening the army has a keen insight into the contradictory movements in the military field in the new era, and has made a series of new explanations on the relationship of unity of opposites, such as war and peace, military and politics, development and security, change and new situation, crisis and initiative, preparation and stop of war, deterrence and actual combat, and man and weapons, which profoundly reveals the way to strengthen the army and win in the new era, with broad vision, lofty ideas and vigorous weather, and embodies the basic principles and science of Marxism. The supreme leader’s thought of strengthening the army runs through the mission based on far-reaching history, which contains conscious understanding of historical position, firm adherence to revolutionary feelings and determined pursuit of ideal goals, showing the ideological style and lofty realm of contemporary the Communist Party of China (CPC) people; Through the epistemological methodology of grasping the military and building the army around politics, we put the war issue in the realization of the great goal of national rejuvenation, promote national defense and army building as a whole from the overall situation of the party and the state, and guide military actions with the overall situation of national politics, diplomacy, national security and strategy, enriching and developing the Marxist military view of war; Through the revolutionary style of seeking truth from facts and building the army by hard work, the Marxist practical viewpoint and the party’s ideological line of seeking truth from facts are applied to the military field, which sets an example for thoroughly eliminating problems and opening up new prospects for the cause and provides methods and guarantees for turning the blueprint for strengthening the army in the new era into reality; Throughout the sense of urgency of looking to the future and preventing in advance, we are always ready to carry out new great struggles.Fight a well-prepared battle to prevent and resist risks, and fight a strategic initiative to turn danger into opportunity; Through the enterprising spirit of being proactive and determined to develop, it embodies the strategic enterprising view of taking the initiative, the struggle art of sticking to the bottom line and daring to show the sword, and the innovative character of relying on scientific and technological development and progress, and so on. All this is condensed with profound theoretical practicality and distinct strategic foresight, and shows the wisdom and strength of Marxist military theory in the new era.

[The author is a special researcher at the Socialism with Chinese characteristics Thought Research Center of the New Era, the supreme leader of the Central Party School (National School of Administration), and the former executive vice-president of the Central Party School (National School of Administration)]

　　■ Zheng Bingwen
　　
　　The issue of housing provident fund retention and abolition has once again become a hot topic in society. Some people think that the housing provident fund system is unfair, and the housing provident fund has completed its historical mission. In order to reduce the burden on enterprises, it is advocated to abolish the housing provident fund.
　　
　　The author believes that the housing provident fund system still has the value of existence at present and should continue to be retained.
　　
　　Institutional Efficiency and Equity of Housing Provident Fund
　　
　　From the 2018 Annual Report of National Housing Provident Fund published by official website, Ministry of Housing and Urban-Rural Development, we can have a bird’s eye view of the institutional efficiency and fairness of housing provident fund, and have a general understanding of the system. According to the "annual report" of the provident fund, the institutional efficiency of the provident fund can be summarized into four characteristics, and the institutional fairness can be summarized into four characteristics. First look at the four institutional efficiency characteristics of housing provident fund.
　　
　　First, the benefit rate is relatively high.Since the establishment of the provident fund system, a total of 33.35 million individual housing loans (including two sets of loans with more than two times) have been issued, of which one third are dual employees, and a total of about 55 million people have benefited. Among the 144 million paid-in employees, 38% have successfully become housing lenders. The essence of the housing provident fund system is a mutual aid system. As a mutual aid system, 38% of its members can benefit, which is not low.
　　
　　Second, the mortgage level is appropriate and effective.In 2018, 2.53 million individual housing loans were issued, with an amount of 1.02 trillion yuan. On average, each mortgage was about 400,000 yuan. Paying down payment in second-and third-tier cities can basically solve the loan, and there is no need to combine commercial loans.
　　
　　Third, reduce the heavy interest burden for employees.The interest rate of provident fund loans is low, 3.25% for more than five years, which is 1.65&mdash lower than the benchmark interest rate of commercial individual housing loans; 2 percentage points. The mortgage issued in 2018 can save interest expenses of 202 billion yuan for loan employees, and the average loan can save interest expenses of 80,000 yuan if calculated in 10 years. For more than 20 years, the provident fund system has reduced the interest burden of trillions of yuan for employees, which is the vitality of the provident fund system.
　　
　　Fourth, the administrative cost comes entirely from the extracted management fee.There are 342 provident fund management centers in China with 3,439 service outlets, and there are 44,000 employees in the country, 40% of whom are non-employees. In 2018, the management fee was 11.7 billion yuan, and the comprehensive management cost per 100 million yuan of assets was 210,000 yuan, including salaries and bonuses of all employees, office space, office equipment and official expenses. The whole provident fund system is a self-supporting system. In the national contributory welfare system, such as the social insurance system and even the National Social Security Fund Council, all its operating and management costs (staff salaries and office equipment, etc.) come from financial funds, while the management costs of the housing provident fund system are completely self-digested, which is very rare in China’s current contributory welfare system.
　　
　　Let’s take a look at the four institutional fairness characteristics of the housing provident fund from the 2018 Annual Report of the National Housing Provident Fund.
　　
　　First, the coverage has gradually expanded.By 2018, the number of employees paid into the provident fund was 144 million, which is a large coverage in China’s contributory welfare system. For example, in a comparable social insurance system, except for medical care and old-age care, unemployment insurance covers 196 million people and maternity insurance covers 204 million people, and they are more compulsory than housing provident fund. Other payment systems cover a small number of people, for example, enterprise annuities cover less than 24 million people.
　　
　　Second, the structure of paid employees is dominated by formal sector employment.Among the 144 million employees, 31% are from government agencies and institutions, 20% from state-owned enterprises, 31% from private enterprises and 8% from foreign capital, and the remaining 10% are non-governmental, collective enterprises and other types of units. There are narrow and broad definitions of formal sector employment in China. The narrow definition refers to urban corporate institutions and urban collective units, which employ 170 million people. In a broad sense, we should also add 140 million urban private employees, that is, employees of private enterprises whose business address is located above Chengguan Town in the county. Unemployment insurance, industrial injury insurance and provident fund mainly cover employees in the formal sector in a narrow sense.
　　
　　Third, the system is very transparent.The information disclosure and transparency of the housing provident fund system have always been better. In 2015, the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the People’s Bank of China jointly issued the Notice on Improving the Information Disclosure System of Housing Provident Fund (J.J. [2015] No.26). In addition, the Annual Report of the National Housing Provident Fund jointly released by the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the Central Bank to the whole society every year has complete information and is very transparent. For example, the proportion of paid employees according to the nature of the unit (civil servants, institutions, state-owned enterprises, collective enterprises, etc.), the withdrawal of provident fund by type (reasons for withdrawal, number of people, proportional amount), various types of loans (housing type, area, number of units, etc.), pilot loans to support the construction of affordable housing, business revenue and expenditure and value-added income, distribution of housing loans and value-added income in various provinces, asset risk, etc.
　　
　　Fourthly, housing provident fund, as a mutual fund, has played three spillover effects on housing construction in China.One is to occupy a place in the housing market. For example, in 2018, the housing consumption category of housing provident fund, personal housing loans and discount loans for public developers totaled 2.2 trillion yuan (including nearly half of the repayment of loan principal and interest), accounting for 17% of the national commercial housing sales and 16% in the personal housing loan market. Another example is to support loan workers to purchase and build housing area of 287 million square meters, accounting for 19% of the national commercial housing sales area. Second, it plays an obvious role in the rental market and housing repair market. The provident fund has provided support to employees who have no need to buy a house for the time being in their needs of renting and repairing houses. The withdrawal amount of 7.66 million rented employees has reached 73 billion yuan, and the per capita annual withdrawal amount is 10,000 yuan. Third, it plays a huge role in the construction of affordable housing. The housing provident fund provides loan support for affordable housing construction projects. By the end of 2018, a total of 87.215 billion yuan of loans had been issued to 373 pilot projects for affordable housing construction. In addition, the value-added income of some housing accumulation funds also provided supplementary funds for the construction of urban public rental housing (low-rent housing), and a total of 336.5 billion yuan was withdrawn from the construction of public rental housing. For another example, the Beijing Housing Provident Fund has so far issued 36 project loans with a loan amount of 20.1 billion yuan and a construction area of 940,000 square meters, potentially solving the housing difficulties of low-and middle-income workers’ families by more than 90,000 households.
　　
　　The mission of housing provident fund is not completely over.
　　
　　From the perspectives of efficiency and fairness, the above-mentioned provident fund system has performed well in many contributory welfare systems, at least not very badly, which has played a role in the transformation of housing system and solving the housing difficulties of employees. In the coming period, the historical mission of housing provident fund has not yet ended, which is mainly manifested in the following aspects.
　　
　　First, from the demand side, housing provident fund can also play a certain role.In the third-and fourth-tier cities, the role of alleviating housing difficulties for working-class people is very obvious. The most convincing is the mortgage rate, that is, the ratio of the balance of personal housing loans to the balance of housing provident fund deposits at the end of the year. For example, most provinces in the central and western regions have mortgage rates of 70% to 80%, and only Xizang (68%), Qinghai (69%) and Xinjiang Construction Corps (38%) are below 70%. Almost all first-and second-tier cities are above 85%, for example, Beijing is 95%, Shanghai is 96%, Tianjin is almost 100%, and Jiangsu, Zhejiang, Anhui, Fujian and Guizhou are above 95%. What’s important is that the housing prices in first-and second-tier cities are high, and the employees employed by government agencies and institutions every year are under great pressure to buy houses. These groups are all admitted through the "national examination", and they undertake the function of running the state machine. In the front line of scientific research and teaching, the marginal utility of housing provident fund is the highest, and in second-and third-tier cities, they can completely rely on provident fund to solve the problem of buying houses. If the provident fund is abolished, it means that there are great obstacles for the central ministries or some departments to recruit outstanding talents.
　　
　　Second, from the pattern of initial income distribution in China, retaining the provident fund can increase the share of labor income.As we all know, the share of labor income is too low in China’s primary income distribution pattern. Since the reform and opening up, the index of labor income share has fluctuated, from over 60% in the 1990s to below 50% before the international financial crisis in 2008, and then it has rebounded. It has improved in the past 10 years, but it is 15 to 20 percentage points lower than developed countries on average, and even lower than some developing countries.
　　
　　The report of the 19th National Congress of the Communist Party of China clearly pointed out: "Adhere to the simultaneous growth of residents’ income while economic growth, and realize the simultaneous increase of labor remuneration while improving labor productivity". The Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Improvement of the Socialist Market Economic System in the New Era just released on May 18, 2020 once again pointed out: "Increase the labor remuneration of workers, especially front-line workers, increase the proportion of labor remuneration in the initial distribution, realize the simultaneous growth of residents’ income while economic growth, and realize the simultaneous increase of labor remuneration while improving labor productivity."
　　
　　From the perspective of implementing the central spirit, the provident fund system is a good thing. The idea of canceling the provident fund is mainly for the sake of reducing the burden on enterprises, and the starting point is also good, but the crux of the problem lies in the fact that the focus should be on reducing taxes and social security premiums. China’s tax revenue mainly comes from indirect taxes, and direct taxes only account for about 10%. In the long run, we should gradually focus on direct taxes, but if the share of labor income is always too low, it will always be empty talk.
　　
　　Third, from the perspective of employees’ sense of acquisition, the effect of provident fund is very obvious.When they paid the provident fund, the people never complained that the base was too high and the proportion was too high. They complained that the social security premium rate and base were too high. The phenomenon of "evasion" of social security for ordinary people and enterprises is very serious, while almost no one and enterprises "evade" the provident fund! Why? Because the "tax wedge" of the provident fund is "zero", 100% of it becomes the disposable income of employees and their families, and its private attribute is very obvious. Excluding the provident fund, the tax wedge of social security contributions (including payroll tax) in China is as high as 30.81%, which is exactly equal to the average of OECD countries. In contrast, the tax wedge of Denmark, a Nordic welfare country, is only 30.99%, which is only a little higher than that of China. There are many developed countries with lower tax wedge than ours, such as Japan (29.64%), Australia (26.96%), Britain (26.51%), Luxembourg (26.29%), Ireland (24.66%), Canada (24.12%) and the United States (23.95%).
　　
　　Importantly, in the social security payment of individuals and enterprises, the tax wedge of enterprise payment is as high as 19.22%, and the tax wedge of individual payment and individual tax is 6.41% and 5.19% respectively. That is to say, in the structure of tax wedge, the social security payment of enterprises accounts for as high as 62.36% (individual payment is 20.79%, individual tax is 16.85%). Such a large tax wedge, with Of course, enterprises can evade fees "justifiably". Employees don’t get benefits, and they don’t have a sense of gain. Of course, they are willing to "cooperate" with enterprises to evade fees. Therefore, it is an unspoken rule that employees and enterprises "evade" social security fees together, and it is the social security system that ultimately "suffers". This is the main reason why paying provident fund is more popular than paying social security fees.
　　
　　Fourth, the low-and middle-income borrowers of the provident fund account for 95%, which is especially popular in poor areas.One of the main reasons for advocating the abolition of provident fund is that the system is unfair and the poor subsidize the rich. Of the 2.53 million mortgages of 1 trillion yuan issued in 2018, 95% were low-and middle-income borrowers, and high-income earners only accounted for 5%. According to the 2018 Annual Report of the National Housing Provident Fund, the low-middle income here means that the income is 3 times lower than the average wage of the local society last year, and the high income means that the income is 3 times higher than the average wage of the local society last year (inclusive). Look at age and housing purchase: 76% of borrowers are under 40 years old, 89% buy a building area of less than 144 square meters, and the first set accounts for 85%. Obviously, the above data show that buyers are basically just in need, and the provident fund system really provides protection and support for low-and middle-income groups to buy houses.
　　
　　Let’s use the deposit base of several typical poverty-stricken areas in 2017 to see their attitudes and behaviors towards the provident fund (the data are all from their housing provident fund report released in official website): the deposit base of Dingxi in Gansu is 101% of its social average wage, Baise in Guangxi is 110% of its social average wage, and Zhangye in Gansu has the highest actual deposit base, which is 113% of its social average wage. This shows that the deposit base of employees in poverty-stricken areas is very "real", even exceeding the local social wage, because they have benefited.
　　
　　Fifth, the number of employees who have paid in is increasing, especially in private enterprises.Let’s look at the fairness between "within the system" and "outside the system". In real life, this pair of concepts can be understood in two ways. One means that institutions and state-owned enterprises are regarded as "within the system", while others are regarded as "outside the system". Among the 144 million paid-in employees, there are 44.52 million in government institutions and 29.28 million in state-owned enterprises, totaling 73.8 million, which shows that the number of paid-in employees in the "system" is basically in a "saturated" state; Another understanding is that "within the system" refers to the formal employment sector, "outside the system" refers to the informal employment sector, and the formal employment sector has broad and narrow meanings. With government agencies, institutions and state-owned enterprises basically saturated, private enterprises will become the main force to participate in the provident fund at present and in the future. For example, in 2018, there were 19.9 million new accounts opened in the provident fund, of which private enterprises accounted for 50% (9.94 million), which shows that the proportion of private enterprises will gradually increase in the process of expanding coverage in the future. In the formal employment group, it is unfair to employees who have not participated in the provident fund, but the expansion of coverage needs a process. The state has issued documents many times to expand the coverage of the provident fund, which requires the joint efforts of employers, employees and the whole society, and the coverage of social insurance has also gone through such a process. For example,The basic old-age insurance for employees of urban enterprises covered only 136 million people 20 years ago, and reached 967 million in 2019. However, if the provident fund is abolished, the employees who have not joined and those who have joined will lose their opportunities forever. As long as this system exists, opportunities will exist.
　　
　　Main problems and reform suggestions of housing provident fund system
　　
　　The Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Improvement of the Socialist Market Economic System in the New Era, which was just released on March 18th, 2020, pointed out: "Reform the housing provident fund system".
　　
　　The author believes that this is the most authoritative and latest tone of the central government on housing provident fund, and its attitude is very clear, that is "reform", not "cancellation", and I fully agree with it. Since the central government’s attitude is still clear, if we want to reform, we should first make clear what the problems are in the provident fund, and then discuss what the solution is, not whether to cancel it, but whether to reform it. There may be many problems with the provident fund, for example, whether older employees who have no need to buy houses have the right to quit, whether individual employees have the right to choose the proportion of contributions within the upper limit, and so on.
　　
　　However, there have been two biggest problems with the housing provident fund: First, the investment method is single and the rate of return is too low. For example, the value-added rate of return in 2018 is only 1.56%; The direct result of the low value-added rate of return is that the deposit interest paid by employees is too low, and the interest is only calculated at 1.5%. If calculated according to the market-oriented investment rate of return, the loss is huge. Take the balance of 802.3 billion yuan in 2018 as an example. If it is entrusted to the National Social Security Fund Council for investment and the rate of return is assumed to be 6%, the interest income this year will be as high as 28 billion. Therefore, after more than 20 years, the interest loss will be several hundred billion yuan. For individual employees, the interest rate of 1.5% is far from outperforming the inflation rate, and the risk of depreciation is very obvious. The funds deposited in the account are shrinking every year; The interest rate of 1.5% is at least 10 percentage points lower than the social average wage growth rate, resulting in "welfare loss" doubling every few years. In the past 22 years, the unit proportional payment is almost equivalent to "nothing". In the past 22 years, the wage growth rate and population growth rate have exceeded 14%, which is called "biological rate of return" and "internal rate of return" (we can roughly understand it as actual purchasing power). Minus the interest-bearing level of 1.5%, the annual "welfare loss" will be at least 12%. After 22 years, the welfare loss of employees will be astronomical.From the perspective of the whole society, this is a huge loss of social welfare and a "transfer" of social wealth. The second problem is that the surplus funds can’t be used in the whole country between the areas with low overall planning level and high loan ratio (for example, 99.5% in Tianjin) and the areas with low loan ratio (for example, 78% in Qinghai). From the perspective of the whole society, the low level of fund management and regional separatism reduce the efficiency of "mutual assistance" of surplus funds.
　　
　　In view of the above analysis, there are problems in the provident fund system, but we should not give up eating because of choking. We should solve the problems in the provident fund as soon as possible, and we should not turn a blind eye to them. Otherwise, we will be irresponsible to the paid employees. From a certain point of view, we will "fatten" the state-owned banks with low-priced and high-quality assets. Since some scholars have put forward a motion to cancel the provident fund, policy makers should act as soon as possible with a sense of urgency and a high sense of responsibility for the people’s interests, so as not to let a good livelihood system become a "soft rib" for a long time. In order to get rid of the above two main disadvantages, the author puts forward four reform ideas or four reform options.
　　
　　First, expand the function and optimize the structure without changing the nature of the current administrative institution of the housing provident fund center.This is an improved scheme, the easiest and most convenient scheme, and the existing system and mechanism will not be changed. The areas of "improvement" include: in the investment system, we can adopt the mode that the basic old-age insurance fund for urban workers entrusts the National Social Security Fund Council to invest, and the provinces sign contracts with the National Social Security Fund Council respectively and agree on specific matters such as investment return rate, and all the real investment income is distributed to the paid employees as interest. In terms of business scope, provident fund centers in first-and second-tier cities are allowed to use value-added income and other funds to directly invest in and hold rental housing, and support paid employees to solve housing problems through leasing; Expand the coverage of deposits to cover urban migrant workers and even freelancers; At the level of overall planning, it will be promoted to national overall planning, and the mutual integration of funds between cities will be strengthened. Deposited employees can continue to deposit in different places, extract and use in different places, and lend; Establish a new loan allocation mechanism in the use of extraction, tilt towards low-and middle-income groups, and increase support for rental housing; Improve the efficiency in the operation mechanism and simplify the procedures for extraction and use; Strengthen the publicity according to law in supervision and regularly disclose information.
　　
　　Second, the national housing provident fund management company, a policy-based non-bank financial institution with independent legal person, was reorganized and established (the idea of "Fannie Mae and Freddie Mac" in the United States).The national housing provident fund management company issues bonds and securities in the capital market with national credit, expands the fund pool, and provides liquidity support and policy guarantee for ordinary people to use the housing provident fund; In terms of the use of funds, the National Housing Provident Fund Management Company does not directly issue loans, but supports the basic housing needs of paid employees by providing low-interest and long-term credit guarantees for paid employees. After being guaranteed by the provident fund management company, paid employees can choose any provident fund center and commercial bank to obtain loans. This method can promote the competition between provident fund centers and commercial banks, and improve the efficiency and service level of housing loans for paid employees. At the same time, the national housing provident fund management company provides funds for the provident fund centers and commercial banks by purchasing their mortgage assets in bulk. In the first-and second-tier cities with high housing prices, we will support the construction and operation of rental housing through loans or direct investment, and promote "both rent and purchase". Establish a national overall planning mechanism and a national housing provident fund fund fund management platform to realize national deposit and withdrawal and interbank lending; In terms of operation mechanism and supervision mechanism, it operates in the way of corporate governance structure of financial institutions and accepts supervision.
　　
　　Thirdly, the policy-oriented National Housing Bank was reorganized and established (the idea of China Postal Savings Bank).Based on the model of housing savings banks in developed countries, the national provident fund center will be reorganized into a unified national independent legal person financial institution, and the provincial and municipal provident fund centers will be reorganized into branches of the National Housing Bank, and bonds and securities will be issued in the capital market with national credit; Carry out policy-based housing savings business, establish a differential credit mechanism, and provide more favorable housing financial support to low-and middle-income groups, which can be deposited and connected in different places, and used and loaned in different places; Issue project loans to rental housing construction. In the operation mechanism, it operates according to the corporate governance structure of modern financial institutions, and establishes an incentive mechanism to promote efficiency and risk control; According to the regulatory mechanism of policy finance, the Ministry of Housing and Urban-Rural Development is responsible for the formulation and supervision of housing policy rules, while the central bank and the China Banking Regulatory Commission are responsible for the formulation and supervision of banking regulatory rules.
　　
　　Fourth, merge with enterprise annuity and integrate it into a comprehensive provident fund system (the idea of Singapore Central Provident Fund).Considering the aging trend, following the principle of life cycle, taking into account the capital needs of urban residents in housing and pension, a unified personal provident fund account will be established throughout the country. According to the housing and pension, two sub-accounts are set up. The housing account implements "low deposit and low loan", and the funds in the housing account can be extracted for renting or buying housing. When employees have no provident fund loans or housing consumption needs, the funds in the housing account are transferred to the pension account. Set up a policy-based non-bank financial institution to be responsible for the investment and operation of the comprehensive provident fund pool, and play the dual role of the current housing provident fund and enterprise annuity.
　　
　　(The author is a member of Chinese People’s Political Consultative Conference and director of the World Social Security Research Center of China Academy of Social Sciences)