If food safety is brought into the assessment of local political achievements, the serious impact will be severely blamed.

  BEIJING, Feb. 25 (Xinhua) According to the WeChat WeChat official account news of the General Administration of Market Supervision, the general offices of the General Office of the Central Committee of the CPC and the State Council recently issued the Provisions on the Responsibility System for Food Safety of Local Party and Government Leading Cadres, which clarified that local party committees and governments at all levels should take overall responsibility for food safety work in the region, and those who fail to do their work and lead to major or particularly serious food safety accidents or cause serious adverse effects should be severely investigated for responsibility.

  Data Map: The staff of the market supervision department conducts on-site vegetable testing for consumers. China News Service reporter Han Suyuan photo

  The General Offices of the General Office of the Central Committee of the CPC and the State Council recently issued the Provisions on the Responsibility System for Food Safety of Local Party and Government Leading Cadres, which clearly stipulated the food safety responsibilities, assessment and supervision, rewards and punishments of local party and government leading cadres. The relevant person in charge of the General Administration of Market Supervision answered the reporter’s questions on relevant issues.

  The person in charge said that the promulgation of the "Regulations" provided a new institutional guarantee for food safety work, which will more effectively urge local governments to implement the responsibility of territorial management of food safety, promote the improvement of local food safety work, and better protect the people’s "safety on the tip of the tongue".

  According to the person in charge, the "Regulations" clarify that local party committees and governments at all levels have overall responsibility for food safety work in the region. The main person in charge is the first person in charge of food safety work in the region, and other members of the team are responsible for food safety work in the industry or field in charge.

  — — The main leaders of local party committees at all levels "should comprehensively strengthen the party’s leadership over food safety work in the region";

  — — The main person in charge of local governments at all levels "should strengthen the leadership of food safety work in the region";

  — — The person in charge of food safety in local governments at all levels "should strengthen the leadership of food safety supervision in the region and be specifically responsible for organizing food safety supervision in the region";

  — — Other members of the Standing Committee of local party committees at all levels and other members of the government leadership team shall, in accordance with the division of responsibilities, strengthen their leadership over food safety-related work in the industry or field in charge.

  The person in charge said that the "Regulations" also clarified the three major means of supervision and implementation. The first is tracking supervision. It is clear that local party committees and governments at all levels should follow up and supervise the implementation of major deployment and key work of food safety. The second is duty inspection. It is clear that local party committees at all levels should check the performance of food safety duties by local party and government leading cadres in combination with the inspection work arrangements. The third is appraisal. It is clear that local party committees and governments at all levels should give full play to the role of "baton" in evaluation and assessment, and promote local party and government leading cadres to implement food safety responsibilities. The "Regulations" emphasize the application of the results, and clarify that the results of follow-up supervision, duty inspection and evaluation should be used as an important reference for the assessment, reward and punishment, use and adjustment of local party and government leading cadres.

  Regarding rewards and punishments, the person in charge introduced that the "Regulations" clearly and effectively organize the prevention of food safety accidents and eliminate major food safety risks in a timely manner, so as to protect the interests of the state and the people from major losses; Significant innovations have been made in food safety work and remarkable results have been achieved; In the case of outstanding achievements in the evaluation of food safety work, it shall be commended and rewarded in accordance with relevant regulations.

  Failing to perform the duties and requirements of the Regulations, or failing to perform their duties properly; Responsible for leading major food safety accidents in this region or food safety incidents with bad social impact; Failing to organize and lead the relevant departments to effectively deal with food safety accidents in this area in time, causing adverse effects or great losses; Leading responsibility for concealing, making false reports or delaying the reporting of food safety accidents; Violation of regulations, intervention in the handling of food safety accidents according to law and the handling of food safety crimes, etc., should be held accountable in accordance with relevant regulations.

  The "Regulations" also mentioned that those who report dereliction of duty in time and take the initiative to take remedial measures, effectively prevent or reduce the heavy losses of food safety accidents, recover serious adverse effects of society, or actively cooperate with accountability investigations and take the initiative to take responsibility shall be given a lighter and mitigated accountability in accordance with relevant regulations; If poor work leads to major or especially major food safety accidents, or causes serious adverse effects, the responsibility shall be severely investigated.

Six major consumption trends of the new middle class in 2023: the end point of consumption is "sense of relaxation"

"In 2023, most new middle-class people were cautious about consumption. 47.5% of new middle-class families expect their consumption expenditure to remain unchanged, and 44.5% will fluctuate slightly. Among them, the proportion of people who choose to increase slightly is slightly higher than that of people who shrink slightly. "

Text/dawn report

The White Paper on the New Middle Class in 2023 will be released soon, and the time is set in mid-January 2024.

Compared with usual, we delayed the release of this report and put it at the beginning of the new year.

Retreat, standing in 2024 and looking back at 2023, the perspective is higher and more comprehensive; Practically speaking, this gives us more time to use more accurate annual data, not only to see it all, but also to see it carefully.

In addition to the release time, the content of the New Middle-class White Paper in 2023 has also changed a lot. In the past, we may have observed the changes of the new middle class life from a similar angle more mechanically, with the intention of catching a glimpse of the leopard from the small life links. The problem with this is that the observation may be accurate, but there is no practical reference for future speculation.

If you still don’t know what the new middle class is, here is a long picture for your reference, which records the starting point and mental journey of our observation of the new middle class.

The theme of the White Paper on the New Middle Class in 2023 is "Globalization". We refer to the development experience of the new middle class in other countries and combine the current situation faced by the new middle class in China to find a reference value for consumption and life. On a similar path, see where you have gone, and then step on others’ footprints to decide your next step, so as to reduce the opportunity cost brought by the choice as much as possible.

So where did the new middle class go in 2023? From this new report, which is about to be completed, we have drawn six groups of intuitive conclusions and made a simple summary of the new middle class year with data.

In 2022, we defined the new middle class as people who have certain wealth and are in the period of rising career. They are an important force to promote the social development of China through many dimensions such as occupation and consumption, and they are also a group of people who are greatly influenced by the overall development level of society.

The data tells us that the wealth growth of the new middle class has also encountered certain bottlenecks. Only 17.5% of the respondents said that 2023 was a year of asset expansion, which directly mapped to every consumption of the new middle class.

Mark Twain said: "History does not simply repeat itself, but it always moves forward with the same rhyme."

Looking back at the development of China’s consumption era, it has gone through four stages since the 1990s:Food and clothing consumption → diversified brand consumption → personalized consumption → rational consumption.

In 1980s and 1990s, China residents concentrated on food and clothing and large household durable consumer goods, such as color TV sets, washing machines and refrigerators, and paid attention to the price. In the new century of 2000, consumers have initially formed brand awareness, which requires not only the basic functions of products, but also additional functions. From 2010 to 2017, personalized consumption rose, social media such as WeChat and Weibo became the main channels to influence consumers, and the focus of consumption also shifted from commodity to service consumption.

Since 2018, new domestic products have risen, consumption has been further upgraded, the new middle class has been expanding, and consumption has gradually returned to pragmatism and rationality, from brand consumption to quality consumption.

Based on the data dimensions of macroeconomic level, per capita disposable income and per capita GDP, there are many similarities between China and the United States and Japan in the past.

Generally speaking, the changes of consumption times in China, the United States and Japan will basically go through three stages.

At the beginning, the economy developed at a high speed, urbanization advanced, and mass consumer goods prevailed. Later, after the economy developed to a certain stage, consumers’ cognition improved, and faced with consumption upgrading, consumption began to enter the stage of high-end, brand and quality. Finally, when the economic growth slows down or even stagnates, residents’ consumption behavior will tend to return to rationality, instead of blindly pursuing brands, they will pay the bill on demand.

Click on the picture to enlarge it immediately.

As shown in the figure, China is currently in the transition stage from the second consumer society to the third consumer society, but it has emerged the characteristics of the fourth consumer society, and the overall level is closer to the Japanese level in the 1970s-1990s. In combination, it is more like being in the middle of the "3 consumption era".

The most typical data feature in the consumption era is the change of consumption expenditure of new middle-class families.

Judging from the specific expenditure figures, in 2023, the daily expenditure of the new middle class appeared the phenomenon of "tight monetary policy". In 2023, the proportion of the new middle class whose monthly household expenditure is less than 10,000 yuan is 12.9 percentage points higher than that in 2022.

Affected by the objective environment, the uncertainty of one’s own work and investment and other factors,In 2023, most of the new middle class were cautious about consumption. 47.5% of new middle-class families expect their consumption expenditure to remain unchanged, and 44.5% will fluctuate slightly. Among them, the proportion of people who choose to increase slightly is slightly higher than that of people who shrink slightly.

Positive, but positive is relatively limited. At present, the attitude of the new middle class towards household consumption expenditure is generally conservative.

The daily consumption of the new middle class is diligent and frugal, and it is also comfortable to streamline consumption. In the investigation in 2023, we found that when a commodity is related to keywords such as "cost performance", "basic/practical", "living artifact" and "tens of billions of subsidies", it is easier to attract the attention of the new middle class.

Referring to the United States in the 1990s, price comparison is one of the most common operations after returning to rational consumption. When millennials become the main force in the American consumer market, they attach great importance to the cost performance of goods. According to the survey of Bank of America Merrill Lynch, 71% of people will compare prices online before buying, and 50% will compare prices between stores.

Although there are signs of spending cuts, the new middle class has not completely given up the happiness brought by consumption. According to the survey data, the new middle class is willing to spend money on their hobbies, and it is also affordable to splurge occasionally for "experience upgrade", "high-end/quality", "delicious" and "fun".

"overall frugality, local arbitrariness",It is the consumption attitude of the current new middle class. But how to find a balance between these two almost completely different attitudes has become our next dismantling object.

Basic consumption is the main position for the new middle class to save money.

German sociologist Haltmut Rosa believes that the essence of modernity is social acceleration, which can be divided into scientific and technological acceleration, social change acceleration and life rhythm acceleration.

With the rapid development of the Internet, the new middle class is inevitably caught in the accelerated time. As a result, the demand of some new middle-class people for instant and entertainment has increased rapidly, and prefabricated dishes and mobile entertainment have naturally become the just-needed consumption of families living alone or having children late.

In 2023, the prefabricated vegetable market rose. From January to September, 2023, the sales volume of prepared dishes below 50 yuan was the highest in Tik Tok. 200 yuan’s sales at the price of 100-100 increased the fastest year-on-year, reaching 99%, including some complicated dishes, party packages, New Year’s Eve packages and so on.

Behind the rise of prefabricated dishes, it shows that the new middle class pursues frugality and quick satisfaction in food consumption, the consumption cost and time costs are reduced at the same time, and the living density is accelerated.

Prefabricated dishes greatly reduce the difficulty and threshold of home cooking and provide a kind of "quick fireworks". According to the report of iResearch, nearly 70% of consumers buy pre-cooked dishes because of "saving time", nearly 30% because they don’t like cooking, and nearly 20% because they can’t cook.

The macro reason behind this is inseparable from the changes in the country’s demographic structure. Singletonization, family miniaturization and increasing female employment rate in the 1990s made Japanese small-sized families more inclined to cook prepared dishes or eat out. After Japan’s household expenditure peaked in 1992, the per capita consumption of food sub-categories was generally still on the rise, including beverages, dairy products, condiments and prepared vegetables.

Where did the money saved by the new middle class by squeezing basic consumption go? It is likely to be used to enhance sensory stimulation.

In 2023, a short drama with an episode of 3-5 minutes but an unambiguous plot became one of the electronic mustard tuber that brought sensory stimulation. As long as the microwave oven heats a pre-cooked dish, it can meet the entertainment needs of the new middle class for simplicity, relaxation and direct delivery.

In 2023, the market size of micro-short plays in China reached 37.39 billion yuan, and in the third quarter, the circulation of online micro-short plays in China reached 150, nearly twice the total in 2022. On Aauto Quicker APP, nearly 200 million users watch short plays every week.

This year is also a year of performance economy. According to the data of China Performance Industry Association, the number of performances and box office receipts in the first three quarters of 2023 have exceeded the level of the whole year of 2019. Jumping and jumping in concerts and music festivals, as supporting guests and Wu Bai singing to the top of their lungs, is one of the ways for the new middle class to vent.

2023 is also a year of theme parks. According to the financial report of Disneyland, even though the ticket prices of Shanghai Disneyland and Hongkong Disneyland have been rising one after another, the number of tourists and spending in the park have increased. Disney has also become a new middle-class weekend resort. Among the preferences of theme parks of netizens in China in 2023, 43.6% of consumers like Disney best.

Before that, the new middle class rewarded themselves with a feast at the weekend, but now the saved meals are marked as light sticks at concerts and Lena Belle dolls in Disney Park.The sensory stimulation pursued by the new middle class has never disappeared, but the stimulation of taste has turned into more intense enjoyment in vision and hearing.

In 2023, the new middle class is not only used to "deslagging" consumption like chewing sugar cane, but also expects consumption to bring longer-term additional significance.

Compared with the survey data in 2022, we have the following three findings.

First of all, "children’s education" has been the champion of the main expenditure items of new middle-class families for two consecutive years. Specifically, the monthly child-rearing expenditure of the new middle class is highly concentrated in three places, namely education and study (73.4%), daily diet (46.3%) and interest cultivation (45.3%).

Although the travel consumption has risen rapidly, it has only returned to the normal level. However, the proportion of children’s education and learning improvement has increased significantly, which shows the long-term change of the consumption attitude of the new middle class. Investing in the growth and health of the next generation is still the most certain expenditure and the most worthy of persisting in "long-term doctrine".

In addition to basic and enjoyable consumption, in 2023, there will be two important words in the consumption of the new middle class-"indoor" and "outdoor".

According to the data of the National Bureau of Statistics, in the first three quarters of 2023, the per capita consumption expenditure of residents ranked second, second only to basic consumption (food, tobacco and alcohol).

Suning.cn’s "double 11 Electrical Appliances Consumption Watch" shows that the new trend of household appliances is intensive, and the sales of household appliances represented by washing and drying suits, dishwashers and sweeping robots have increased by 117%, 125% and 132% respectively.

The reason is that the long-term experience of staying at home makes the relationship between the new middle class and the space of "home" more and more intimate. With the recovery of consumption, the new middle class has continued and even upgraded the personalized demand for living space.

In terms of outdoor economy, China’s new middle class is now keen on suburban exploration and short trips.

In 2023, the outdoor travel frequency of the new middle class is higher than that of 2022, and nearly 40% of the new middle class will go outdoors every month. More than 40% of the new middle class said that they would try new products related to travel on a regular basis.

This is similar to Japan’s travel trend from 1984 to 2019. At that time, in Japan, short-distance tours with short distance, short time and low price constantly replaced European and American tours, and showed the characteristics of family and miniaturization. From 1992 to 2022, Japan’s sports-related consumption has also been rising, such as mountaineering, camping, cycling and gymnasiums.

According to the massive engine "2023 Tik Tok Tourism Content Experience Survey", in terms of travel days, the number of people who choose to travel for 1-3 days is the highest, reaching 44.2%. Even if they don’t take a three-day holiday, many new middle-class people have to "sleep somewhere else" for the weekend-or simply find a hotel in the city where they live.

The above are eight important figures that we extracted from the White Paper on New Middle Class: Consumption in 2023. In addition to consumption-related data, we also explored more data with the brand of the times from the perspectives of wealth, occupation and social relations of the new middle class. Teacher Wu will also use these findings in the "Foreseeing the 2024 Wu Xiaobo Factory Year-end Show" on December 30th.Welcome to make an appointment for live broadcast.


Author |
Awan
| responsibilityEdit | Tao Xu

Editor | He mengfei | Source | VCG

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Reporting/feedback

Cut interest rates! The universe is out of hand.

China Fund reported to Amman
Really cut interest rates!
On the afternoon of December 21st, ICBC’s App posted the Notes on Adjusting the Interest Rate of RMB Savings Deposits, and lowered the deposit listing interest rate from December 22nd, 2023, mainly involving three-month, six-month, one-year, two-year, three-year, five-year time deposits and large deposit certificates.
Among them, the listed interest rates of call deposits are lowered by 0.2 percentage points, the listed interest rates of lump-sum deposit, lump-sum deposit and withdrawal, and deposit-principal withdrawal are lowered by 0.1 percentage points, the listed interest rates of three-month, six-month and one-year time deposits are lowered by 0.1 percentage points, the listed interest rates of two-year time deposits are lowered by 0.2 percentage points, and the listed interest rates of three-year and five-year time deposits are lowered by 0.25 percentage points.
ICBC said that in addition to adjusting the deposit listing interest rate, it also optimized the best interest rate level of call deposits and time deposits (including large deposit certificates) to reflect the changes in the market interest rate situation.
Referring to the practice of adjusting deposit interest rates in June and September this year, major commercial banks all chose the same day to take collective action, and tomorrow (December 22), major commercial banks are expected to reduce deposit interest rates simultaneously again.
It is worth noting that this is the third time this year to adjust the deposit interest rate.
The industry believes that "the current net interest margin of banks is under great pressure. According to the data of the General Administration of Financial Supervision, the net interest margin of commercial banks at the end of the third quarter of 2023 was 1.73%, the lowest since 2010. Next, the financial policy will continue to exert its strength to further rationally benefit the real economy. Banks will fully tap the dividend of market-oriented reform of deposit interest rates, reasonably reduce deposit interest rates, balance their own stable operations and further support the real economy, and further benefit the real economy by lowering deposit interest rates. Expand space. "
Quickly rush to hot search
On the afternoon of December 21st, it was revealed by the media that state-owned banks would cut the deposit interest rate on December 22nd. According to the reporter’s simple calculation, the annualized interest rate of three-year large deposit certificates of many state-owned banks is 2.65%, which is 2.35% after being lowered by 30BP. If you deposit 200,000 yuan for three years, the three-year interest will be 1,800 yuan less.
In fact, the annualized interest rate of this three-year certificate of deposit is only lowered by 25BP, and it is adjusted to 2.4%. If you save 200,000 yuan for three years, the three-year interest will be 1500 yuan less.
10-year treasury bonds quickly turned red in the afternoon.
Affected by the expected reduction of deposit interest rate, the bond market went bullish in the afternoon today. At the close, the 10-year treasury bond futures turned from green to red in the quarter.
However, will the bond market strengthen for a long time?
Previously, Zhang Wei, the chief revenue officer of Founder Securities, counted the trend of the bond market after several rounds of deposit interest rate cuts this year (including a round of replenishment of interest rate cuts by small and medium-sized banks in early April for last year’s big banks). The results showed that after the intensive release of deposit interest rate cuts in April and June, the yield of government bonds dropped significantly; After the big bank cut interest rates in September, the bond market yield was adjusted, but after the small and medium-sized banks followed suit, the bond market strengthened again.
Li Yong, a soochow securities, believes that a larger reduction in the interest rate of long-term deposits can improve the trend of deposit regularization, which not only relieves the pressure on the debt side of banks, but also encourages residents to convert more deposits into consumption. However, the impact of lowering the deposit interest rate on the bond market is not as direct as lowering the policy interest rate directly, but in the medium and long term, it will still create a relatively downwind environment for interest rate bonds.
On the one hand, the decline of deposit interest rate will reduce the cost of bank debt, and on the asset side, it will tend to allocate interest rate bonds with low yield and risk to match it; On the other hand, the lowering of bank deposit interest rate will make it less attractive to residents. Residents who choose deposit products usually have low risk preference and tend to choose wealth management products or debt-based products to replace them, thus increasing the demand for bonds. In the short term, the downward adjustment of deposit interest rate and stock mortgage interest rate will not quickly stimulate the recovery of the real estate market, and there is no upward risk of interest rate exceeding expectations.
CITIC Securities clearly stated that since residents’ risk appetite is still low in the short term, even if the deposit interest rate is lowered, it is expected that the deposit scale will continue to rise. However, in the medium and long term, the phenomenon of "deposits moving" may be strengthened, and low-risk asset management products such as bank wealth management are expected to usher in incremental funds. For the bond market, after the cost of bank debt is controlled, it is possible to drive the overall downward trend of broad-spectrum interest rates; In the medium and long term, the scale of low-risk asset management products such as wealth management and debt base will increase, and the strengthening of the allocation power of the bond market will also indirectly push down interest rates.
Editor: Captain

Audit: Chen Siyang

Reporting/feedback

歼 20 mass production detonated the military sector brokers believe that these stocks are worthy of attention!

  At the end of today, the military-related sectors performed strongly, with national defense, aviation power and large aircraft in the top four respectively. Chenxi Airlines, Platinum 20cm daily limit, Haite High-tech 3 consecutive boards, Aileda, Xinyan shares, Xinyu Guoke, Hangfa Technology and other stocks all rose more than 10%.

  In the news, on June 18th, the Air Force announced today that the new generation stealth fighter J -20 made in China is equipped with many heroic units of the People’s Air Force. With the upgrading of fighters, it will boost the prosperity of the upstream and downstream industrial chains of fighter aviation industry chain.

  At the same time, it is worth noting that on June 9, Aero Power announced that it plans to use 11.7 billion yuan for cash management. Considering that the monetary capital of 21Q1 Company is 4.438 billion yuan, it is considered that the company may receive a large amount of monetary capital in the near future. Previously, AVIC Shen Fei had also announced a substantial increase in associated deposits, or indicated that large orders would land. Since the second half of 2020, military enterprises have announced that they intend to finance the construction of new production lines, and most production lines will not be put into production until at least the end of 2022, which also shows that the industry still has long-term order support at the end of the 14 th Five-Year Plan. Judging, with the release of the semi-annual report or the third quarterly report, the growth of the industry will be gradually realized, and the arrival of a large number of advance receipts has verified the high certainty of the long-term development of the industry.

  According to the in-depth analysis of the recent research report of Guosheng Securities, the forecast period of the interim report is coming, and the high prosperity of the military industry is expected to continue to cash in 2021Q1. The performance of supporting manufacturers such as electronics and materials in the upstream of the military industry has increased substantially, and the cash paid by downstream host manufacturers for purchasing goods has also increased substantially, which indicates that the orders and shipments in the upstream of the military industry have increased substantially. However, the revenue of Q1 OEM has not increased significantly, which is caused by the delivery rhythm of host products.

  Main engine direction: Take the engine as an example, the orders for upstream raw materials and electronic components have increased substantially in 2020Q3, and the engine manufacturing delivery cycle is estimated to be 8-10 months. From the perspective of goods transfer in the industrial chain, it means that the delivery volume of midstream and main engine products in Q2-Q3 is expected to increase month-on-month, and the revenue of the main engine factory is highly certain. Then, the company announcement represented by AVIC Power is superimposed to manage the cash of 11.7 billion yuan or directly reflect the advance payment. Considering the verifiability of the upstream and downstream of the military industrial chain, it is expected that with the gradual disclosure of the interim report, the advance receipts of other OEMs will also be revealed. Therefore, the delivery volume and advance payment of the downstream mainframe will fully verify the high prosperity of the military industry.

  Upstream and midstream direction: Under the background of comprehensively strengthening training and preparing for war, the domestic military industry has entered a major development opportunity period of "short-term/three-year order and production capacity increase substantially, and medium-term/seven-year equipment system upgrade". During the 14th Five-Year Plan period, the procurement mode of the military industry will be changed from "rolling procurement" to "batch merger and large single procurement", and accordingly the proportion of advance payment is expected to be greatly increased. The original intention of large advance payment is to increase procurement and promote production expansion. Therefore, the demand for military orders is very strong, and the downstream OEMs will constantly put the demand for military industry ahead, and the prosperity is very strong. It is believed that the performance of upstream and midstream enterprises will maintain a high year-on-year growth in 2021Q2, and it will also show an increasing trend from the previous quarter. With the gradual disclosure of the data in the interim report, the high prosperity and continuous performance of the military sector will be fully verified, and the upstream and downstream of the sector will usher in a resonance effect.

  The military sector has reached a period of earning money for performance. In terms of performance, as mentioned above, the performance of the military sector will continue to be honored, and the entire military sector enterprises will usher in a high growth dividend period in the next 3 to 5 years; In terms of valuation, from the perspective of growth, we should try our best to avoid companies whose valuations are constantly being killed in the future. That is to say, after the war preparation bonus is over, the development of some military enterprises will meet the ceiling as the downstream models enter a stable development period. We should choose product-driven military enterprises that can achieve long-term growth by relying on product expansion capabilities. If these enterprises can maintain or expand their valuations in the future, then we can earn money with confidence.

  1) From the perspective of the industry, the military industry will bring long-term growth space because of the continuous confrontation and upgrading of technology. Taking the United States as a mirror, the compound growth rate of US military expenditure has reached 4.7% in the past 60 years, and its military expenditure accounts for about 4% or more in GDP for a long time. The simultaneous development of the US economy and national defense has made the US military sector rank fourth in annualized rate of return in the past 40 years. At present, China becomes rich before it is strong, and focusing on the development of military industry is an important guarantee for economic achievements. However, China’s national defense and economic strength do not match. In 2019, military expenditure accounted for only 1.89% of GDP. Therefore, China’s "14 th Five-Year Plan" clearly pointed out that "promoting the simultaneous improvement of national defense strength and economic strength". It is estimated that military expenditure should at least be on par with the United States in GDP, so China’s military expenditure growth rate or long-term GDP growth rate.

  The combination of equipment gap filling and actual combat training makes the high prosperity of the military industry highly certain. The current military industry is the starting point of the bumper harvest period of equipment scientific research achievements in the past 20 years, focusing on high-growth tracks such as missiles, aero-engines, military aircraft and national defense informationization. On the other hand, technological confrontation exists forever, and the emerging weapons and equipment are endless and the assembly cycle is as long as several decades, which also brings long-term deterministic growth, such as unmanned aerial vehicles, all-electric push ships, electromagnetic weapons, laser weapons, etc. Or the weapon system is constantly upgraded, such as avionics system, which brings great development space to the military industry.

  2) From the perspective of enterprises, the current military sector has entered the performance cashing period, and the EPS of most military enterprises will continue to be cashed. Our key is to find enterprises with technology and product expansion capabilities to gain long-term growth space, and the valuation of these enterprises can be expanded or maintained. The way for military enterprises to achieve long-term growth is: relying on the continuous expansion of technology or products, they can penetrate into the equipment that is constantly iteratively updated, and then gain sustained growth momentum. This requires military enterprises:

  The product direction conforms to the future equipment development trend. For OEMs or core subsystem vendors, it is necessary to choose enterprises that meet the current or future war mode and have new equipment and products reserves, such as fighter planes, unmanned equipment, laser weapons, etc., which will usher in significant development; For the upstream supporting manufacturers, it is necessary to choose the basic electronic/material suppliers that conform to the equipment development trend, which can continuously penetrate in the direction of all kinds of emerging equipment and civilian products, which will bring a large space for long-term growth, such as the increasing penetration rate of carbon fiber composite materials and titanium alloys in emerging equipment, and the continuous upgrading of national defense information technology will bring about an accelerated demand for special chips.

  Product-driven rather than channel-driven. With high R&D investment, technology and products have core competitiveness, and then gain strong expansion ability, whether it is horizontal expansion or vertical integration of products, or expansion to other high-end equipment products such as large aircraft and commercial aviation development based on the characteristics of military-to-civilian conversion, or expansion to the field of military trade to usher in greater market space.

  Individual stock investment:

  1) The core card position enterprise of the high-growth subdivision track of military industry. As a cornerstone product of military industry, the penetration rate of emerging equipment will continue to increase and then achieve long-term growth. The characteristics of high-barrier industries make these core card companies have a high market share in their respective sub-tracks, which proves the company’s ability, and its order rhythm also determines the delivery of the entire industrial chain. In other words, the orders and performance of these enterprises cannot be released, and the prosperity of the military industrial chain may be falsified. Under the certain high-growth industry dividend, it will bring great performance flexibility to these core card companies. Such as Fushun Special Steel, Ziguang Guowei and AVIC Hi-Tech.

  2) Military OEM or core subsystem manufacturer. Fully enjoy the industry dividend with an almost monopolistic industrial position, and once new equipment is installed, it will bring decades of revenue growth. These enterprises are not only the beneficiaries of the high-certainty and high-growth dividends in the military industry brought about by the construction of war preparedness capacity, but also gain long-term growth in the process of continuous confrontation and upgrading of weapons and equipment technology with their industrial monopoly status. For the main engine factory, the productivity requires the change of production relations, and the transformation and upgrading of the military industry to adapt to the comprehensive training and preparation for war is ready to come. The governance structure of the military main engine factory will also be continuously improved, and the profitability of the enterprise will also be continuously improved under the influence of scale effect. Such as: AVIC Shen Fei, Xiangdian, Hangfa Power, Hongdu Aviation, Aerospace Rainbow and Hangfa Control.

  3) Military enterprises with strong expansion capability. Relying on the continuous expansion of technology or products, it can penetrate into the equipment that is constantly iteratively updated, or expand in the direction of civilian use, and then gain sustained growth momentum. This requires military enterprises: products meet the development trend of equipment, such as continuous installation of unmanned equipment, continuous upgrading of national defense informationization, and continuous infiltration of advanced materials such as carbon fiber into new equipment; Product-driven rather than channel-driven, with high R&D investment, technology and products have core competitiveness and thus strong expansion ability, whether it is horizontal expansion or vertical integration of products, or relying on the characteristics of military conversion to civilian to expand to other high-end equipment products such as large aircraft and commercial aviation development. Such as: Zhenhua Technology, Western Superconductor, Shanghai Hanxun, AVIC Heavy Machinery, Tunan, Beimo Hi-Tech.

  4) integration of defense and civilian technologies-style military enterprises. With the gradual development of China’s high-end equipment industries such as large aircraft and commercial aero-engines, due to the universality of military and civilian technologies, this will bring more long-term growth space to many military enterprises. Such as: AVIC Optoelectronics, Yingliu, Ruichuang Micro-Nano and Baoti.

Source: Tongshun-Change Eyes

Reporting/feedback

"Made in Chengdu" new energy bus speeds up its journey to home and abroad.

Although it was a weekend yesterday, the workshop of Chengdu Gree Titanium New Energy Co., Ltd. in Xinjin District was still busy. "There are too many orders waiting to be delivered before the Spring Festival. We work overtime until 11 o’clock every night and work overtime as usual on weekends and holidays." Yang Tianfu, the director of the automobile factory, told the reporter that in the past 2023, compared with 2022, the order volume increased by more than 30%. "The factory has achieved full production, the efficiency has improved, and everyone is more motivated!"

In 2023, Chengdu Gree Titanium New Energy Co., Ltd. achieved a great leap in terms of orders, production capacity and export volume. In particular, it won the largest order worth 360 million yuan in the new energy bus industry that year and became famous in the industry. The large-scale popularization and application of new energy vehicles in the public transport industry has brought market opportunities for enterprises like Chengdu Gree Titanium. Seize the opportunity and share more market cakes. "In 2024, we will work harder, not only to further expand the domestic market, but also to speed up the pace of going abroad and let more regions in the world apply the’ Chengdu-made’ new energy bus." Dong Feng, general manager of Chengdu Gree Titanium New Energy Co., Ltd. said.

01

A car goes offline every 8 minutes.

Sprint 100 logistics vehicles every day.

Walking into the assembly workshop of Gree Titanium, the reporter saw that two 400-meter-long production lines were filled with logistics vehicles being assembled, and more than 200 workers were distributed in chassis tire installation, cab installation, seat installation, glass installation and other links. Through orderly assembly line operation, every 8 minutes or so, an assembled logistics vehicle was commissioned, rolled off the assembly line and drove to the parking lot for shipment.

"Before the Spring Festival, a number of logistics vehicles are being rushed, and they are full of horsepower. They sprint the output of 100 units every day and start while producing." Yang Tianfu proudly introduced that logistics vehicles are another important product of Chengdu Gree Titanium besides buses. In 2023, the factory delivered tens of thousands of logistics vehicles, and the order volume of logistics vehicles will exceed 10,000 in 2024.

In Dong Feng’s view, the company achieved a big breakthrough in 2023. He told reporters that when competing for the largest order of 200 18-meter buses from Yinchuan, Ningxia, there were also domestic first-class car companies such as BYD and Xiamen Jinlong. Chengdu Gree Titanium successfully won this order by accurately grasping the customer’s needs, designing a customized appearance plan according to the local culture and characteristic elements, and establishing a supporting after-sales service station in the local area to quickly respond to the customer’s after-sales needs.

"These 200 18-meter-long buses have been delivered. Some time ago, I just delivered a batch of customized buses in Linyi, Shandong. On the evening of the 20 th, another batch of buses customized by Zhanjiang, Guangdong Province were sent away. " Dong Feng introduced that in 2023, in addition to Chengdu’s local market, Gree Titanium’s buses also expanded greatly in other places, and were sold to Yibin, Meishan, Yinchuan, Xining, Linyi, Beijing, Tianjin, Zhanjiang, Xingtai and Hangzhou.

Not only that, Gree Titanium’s new energy buses have also opened up the international market, and were sold to Norway, Israel and other countries last year. It is understood that Gree Titanium new energy bus has the characteristics of wide temperature resistance and fast charging, and can adapt to extremely cold or extremely hot environments. "We are communicating with some Central Asian countries and Southeast Asian countries to try to open up the markets in these places." Dong Feng said.

02

The additional production line is at full capacity.

Seize the development opportunity of new energy industry

"Lithium battery and hydrogen energy are the two tracks of the new energy industry. Xinjin District is closely following the action of building a strong chain, aiming at the two tracks of lithium battery and hydrogen energy, and is vigorously developing the new energy industry. " He Zhongheng, director of Xinjin Economic and Information Bureau, said that leading enterprises such as Contemporary Amperex Technology Co., Limited, Gree Titanium and Sinoma Technology, as well as upstream and downstream enterprises such as Silibao, Indira and Mingran Intelligent, are all producing at full capacity at present, and some of them have invested in expanding new production lines, all of which are seizing market opportunities.

As a leading manufacturer of hydrogen bottles in the industry, Sinoma Technology (Chengdu) Co., Ltd. recently signed an agreement with Xinjin District to invest an additional 500 million yuan to build 100,000 automatic production lines for hydrogen storage bottles. After the completion of the new project, Xinjin Base will become the largest production base of hydrogen storage bottles in the Asia-Pacific region, with an annual production capacity of 200,000 bottles, more than 100 new jobs and an annual output value of more than 500 million yuan.

The reason for adding a new production line is that with the vigorous development of green hydrogen industry, the market demand for safe and efficient gas storage and transportation equipment has greatly increased. At present, the application scenarios of hydrogen storage bottles of Sinoma Technology have blossomed everywhere, and have been applied to hydrogen-powered light rail vehicles, hydrogen-powered work boats, CNG buses, hydrogen-powered commercial vehicles, etc. The market is in short supply.

In 2021, Contemporary Amperex Technology Co., Limited, which settled in Xinjin District and built five lithium iron phosphate battery production lines, increased its weight again in 2023, investing in the construction of two battery PACK production lines with an annual output of 6.6GWh, and now it has been officially put into production. It is understood that the battery PACK is the terminal product provided by the battery factory to the downstream automobile factory, which mainly includes several parts: battery core, module, electrical system, thermal management system, shell and BMS.

The new energy industry is developing rapidly. How can the government provide good service and relieve the worries of enterprises? "On January 18, Xinjin District held the first political and business forum to optimize the business environment this year, and invited more than 20 enterprises to make demands face to face. Several major new energy enterprises were invited." He Zhongheng said that new energy enterprises raised issues such as electricity security and transportation security at the meeting. "We must escort the development of the industry with a better business environment and promote the qualitative change of the new energy industry from a single project to an industrial cluster."

Original title: "Made in Chengdu" New Energy Bus Speeds to Home and Abroad "

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"If we can’t see, let more people see us."

On the evening of March 9, the Fujian delegation was stationed.

When the reporter knocked on Wang Yongcheng’s door, he was groping for a braille pen and a braille board, struggling to "dot" on braille paper to take notes. In the past few days when he came to Beijing to attend the meeting, he repeatedly revised his speech every night and was often busy until late at night.

Deputy Wang Yongcheng deliberated and spoke at the meeting.

Among nearly 3,000 deputies to the 14th National People’s Congress, Wang Yongcheng is the only blind person. In an exclusive interview with China People’s Congress magazine, he said, "As a blind NPC deputy, I must bring the voices of my blind brothers and sisters to the NPC. If we can’t see it, let more people see us! "

"Always walk out of an aboveboard road!"

"Every disabled person is like a grass. Although he has experienced the tempering of life, he is still stubborn, still full of hope and growing in the sun." This is the life portrayal of Wang Yongcheng’s blindness for nearly forty years.

In 1985, 19-year-old Wang Yongcheng was blinded by an accident and had no sense of light. When he lost his light in his youth, the once colorful world suddenly fell into a deep darkness, which made him pessimistic, desperate and self-destructive, and even once thought of suicide.

At the lowest point in life, it is good to have the support and companionship of family members. In 1989, Wang Yongcheng met his wife, and they broke through many obstacles and finally came together. For the sake of his lover and his family, he is determined to learn a living skill.

Wang Yongcheng began to teach himself Braille to take the exam and went to Henan to study blind massage. Because you can’t see, it’s normal to take the wrong bus, get off the wrong station, fall into the river, and walk on the tracks … It’s normal to stumble, but it’s normal to stumble. Fortunately, there are always enthusiastic people to help him out of trouble again and again.

"After a lot of suffering, I also feel a lot of true feelings. I know that there is nothing in life that I can’t pass. I always have to walk out of a road and walk out of an aboveboard road!" Wang Yongcheng said.

During his study in Henan, his wife, who was far away from home, supported his studies by working as a cleaner, and sent him 130 yuan’s salary every month, 100 yuan. Life was hard, which made him cherish the hard-won opportunities, study very hard, and finally graduated with excellent results.

In 1995, Wang Yongcheng returned to his hometown, rented a 10-square-meter facade room and founded the first local Chinese massage health care center for the blind. At that time, blind massage was still a new thing, and the store was deserted. Wang Yongcheng went around for free clinics and gave massage to the masses, which really eased the pain of many patients.

"When I first heard someone call me’ Dr. Wang’, I was so excited that I trembled all over and felt that I had found the meaning of life, and I could also contribute to others and society." Wang Yongcheng sighed.

When the value of life is gained through dedication, he finds the motivation to move forward. With superb technology, enthusiastic service and hard work, Wang Yongcheng’s health care center has gradually improved and expanded its scale, solving the employment problem of more than a dozen disabled people.

In 1996, with the support of Sanming Disabled Persons’ Federation and other relevant departments, he began to hold a training course on blind massage, giving his skills to others, and expanding the scope to the whole province, and achieved good results of "training one person, finding a job and helping a family". Later, he founded the Fujian Strait Massage Guidance Center for the Blind, which trained more than 6,000 blind masseurs for free for more than ten years, with an employment rate of 98%, and led more blind people to get rid of poverty and stand on their own feet.

Things are sweet and bitter, and those who taste them know; There are dangers in the Tao, and those who follow it know it. Because he has personally experienced various difficulties, Wang Yongcheng regards helping the blind as his mission and responsibility.

As the chairman of Fujian Blind Association, Wang Yongcheng actively responded to the spirit of the CPC Central Committee and Fujian Provincial Committee on implementing the strategy of poverty alleviation and rural revitalization, participated in the "Sunshine 1+1 (social organization+old village) hand-in-hand plan", and took the initiative to help the old revolutionary areas and set up a provincial-level poverty-stricken village-Yongyue Village, Anyuan Township, Ninghua County, Sanming City, Fujian Province. Based on the village conditions and people’s feelings, we integrated social resources, and invested a total of more than 1.3 million yuan to help the disabled, help the poor, help students, help doctors, help farmers and other multi-dimensional assistance, support the construction of village water pipes, street lamps and other infrastructure, directly serve and benefit more than 4,000 villagers, and practice the party’s purpose and fulfill social responsibilities with practical actions. It was rated as one of the "Top Ten Typical Cases" by the Civil Affairs Department of Fujian Province.

Years of dedication have won high recognition from the broad masses. In 2023, Wang Yongcheng was elected as the representative of the 14th National People’s Congress. He said excitedly: "I come from the rural grassroots and grew up in the warmth and sunshine of the party. I can be elected as a deputy to the National People’s Congress, which fully reflects the superiority of our socialist system. "

"Let more people know about the blind group.

What you think, what you worry about. "

As a newly elected deputy to the National People’s Congress, Wang Yongcheng was deeply impressed by "the representative should play the role of a bridge" when he was trained to perform his duties.

In his view, one more identity means one more responsibility, one must perform a good job, come up with high-quality suggestions, and make more suggestions and voices for the disabled.

There are more than 85 million disabled people in China, who are a particularly difficult group and need full respect, care and help from the whole society. Engaged in the work of the disabled for more than 20 years, Wang Yongcheng often visited and investigated everywhere, and deeply felt that the cause of the disabled in China had undergone earth-shaking changes.

Since the 18th National Congress of the Communist Party of China, the CPC Central Committee with the Supreme Leader as the core has attached great importance to the development of the cause of the disabled, guaranteed their basic livelihood, improved their quality of life, and promoted their all-round development. The sense of acquisition, happiness, and security of the majority of disabled people has improved significantly.

Before attending the conference, representative Wang Yongcheng had a discussion with the blind group to listen to opinions and suggestions.

"I am a witness, a witness and a beneficiary." Wang Yongcheng said. In recent years, more than 20 laws and regulations, such as the Civil Code, have stipulated the protection of the rights and interests of the disabled. The financial investment in the cause of the disabled at all levels has increased year by year, with more than 4,000 service facilities for the disabled, and the standard of "two subsidies" for the disabled has been continuously improved …

In the investigation, Wang Yongcheng found that while remarkable achievements have been made in the cause of the disabled, the healthy people still don’t know enough about the specific difficulties faced by the disabled groups, and many well-intentioned help is inevitably thoughtless in practice.

At the end of February this year, Wang Yongcheng had a discussion with the blind group in Zhangzhou on the proposal to be submitted to the conference. The experience shared by a blind man resonated with those present.

The blind man traveled by plane alone, and the ground crew enthusiastically pushed the wheelchair after learning about it, but it embarrassed the recipients: he could walk by himself and only needed someone to help guide him.

Then how to guide the blind to travel? "If you help me, I stand in the front, I don’t know the road ahead, and my heart will still be afraid. It is best for you to walk slowly ahead, and I will hold your shoulders or arms, so that you can perceive the general road conditions through the ups and downs of your body. " The blind man said.

The method is simple and easy, and enthusiastic people "are not impossible, just don’t know". It is precisely by observing each other’s incomprehension that Wang Yongcheng has been running between all walks of life and blind people. "Everyone cares about us, and we should take the initiative to let everyone know about us." He often encourages blind friends to communicate with the outside world and boldly tell others what kind of help they need.

Wang Yongcheng knows that it is his mission and responsibility to speak for the blind and let more people know what they think, worry and hope.

"My suggestion was specially taken back by the comrades of the Health and Health Commission."

"The blind are blind and the heart is not blind. The lack of vision brings keen hearing, touch and highly concentrated thinking. Years of exploration and practice have proved that Chinese medicine massage is the best choice for blind people to obtain stable employment and decent jobs. " Wang Yongcheng said.

According to the data, by 2022, a total of 13,618 blind people in China had obtained the qualification certificates of blind medical massagers, more than 3,000 blind people were practicing in medical institutions, and more than 600 blind medical massages were opened.

However, the electronic registration of health technicians and the implementation of the filing system management in Chinese medicine clinics have made it difficult for blind people to verify their medical qualification certificates, and it is difficult to approve blind people’s medical massage centers. Most certified blind people cannot engage in medical massage as they wish, and blind people who have already practiced in medical institutions have also encountered new difficulties.

How hard does a blind person have to work to get this thin qualification certificate? How important is a stable job in a medical institution to a blind family?

All this, Wang Yongcheng personally experienced and felt the same. "If we can’t see, let more people see us!" To this end, Wang Yongcheng has done a series of preparatory work.

"Improve the social security system and care service system for the disabled and promote the all-round development of the cause of the disabled." "Eliminate unreasonable restrictions and employment discrimination that affect equal employment, so that everyone has the opportunity to realize their own development through hard work." Wang Yongcheng regards Report to the 20th CPC National Congress of the Party as his "pillow book", in which he knows by heart the part about the cause of the disabled, and reads it verbatim. Wang Yongcheng took it as the first case of his proposal to the conference. He extensively consulted the law on the protection of the disabled, the law on traditional Chinese medicine and other laws, and found the basis for blind people to engage in medical massage services.

Knowing that representative Wang was going to attend the two sessions with suggestions about the blind, blind people from all over the country sent Wang Yongcheng a lot of materials. These "invisible but tangible" words bear the hearts of blind friends, and finally converge into suggestions-National Health Commission, Chinese Medicine Bureau and other departments revise the "Measures for the Administration of Medical Massage for the Blind", incorporate blind medical massage institutions and blind medical massage personnel into the electronic registration management of medical institutions and medical staff, and solve the problems of filing blind medical massage institutions and practicing blind medical massage personnel.

The lack of large-character textbooks suitable for students with low vision is also a problem strongly reflected by the masses. According to the statistics of the Ministry of Education on December 28th, 2022, there are 41,806 school-age students with visual disabilities who receive compulsory education, of whom about 60% are enrolled in regular schools to receive integrated education. For these students, the font size, background color and pictures of ordinary textbooks are easy to cause visual fatigue and affect residual vision. Therefore, it is necessary to publish barrier-free Chinese character teaching materials.

Wang Yongcheng suggested that the Ministry of Education should publish the general textbooks for compulsory education used by students with visual disabilities in large print simultaneously, and list them in the catalogue of teaching books for primary and secondary schools of the Ministry of Education, and provide them to students with low vision in regular classes throughout the country free of charge through schools, so as to meet the learning needs of students with visual disabilities, ensure that children can study with peace of mind in general schools and "stay, keep up and learn well", thus improving their sense of acquisition, happiness and satisfaction.

With thousands of carefully prepared suggestions, Wang Yongcheng came to Beijing and walked into the Great Hall of the People. These days, Wang Yongcheng is busy but full. He refined his suggestions and repeatedly discussed and communicated with the staff of the ministries and commissions who came to attend the group deliberation. "My suggestion was specially taken back by the comrades of the Health and Health Commission. The staff of the conference also kept contact with me and said that they would follow up the handling."

"I must not only actively perform my duties, but also perform brilliantly!"

In March, the world-famous National People’s Congress was grandly opened! What are the two sessions like for you and me? It is a solemn and magnificent Great Hall of the People, a bright red flag fluttering in the wind, a packed auditorium with 10,000 people under the lens focus, and a beautiful business card of China’s democracy.

For Wang Yongcheng, the two sessions were measured with both feet, listened with both ears, touched with fingertips and felt with the heart.

"Please press the voter!" On the morning of the 5th, the announcer’s prompt sounded at the conference venue, and when voting on related decisions began, the representative on the side asked if he needed help to press the voting button. Wang Yongcheng declined with a smile. Before the meeting, with the help of his wife, he had touched several voting buttons on the desktop with both hands and kept their positions and functions firmly in mind.

"I can clearly distinguish a dot as small as Braille by hand, and there is no problem with such a big voting key." Wang Yongcheng said, "I must personally cast a sacred vote!"

Representative Wang Yongcheng and his wife were at the meeting.

In order to facilitate Wang Yongcheng’s performance of his duties, the secretariat of the First Session of the 14th National People’s Congress made proper arrangements: his wife accompanied him as a guide and assistant, and her room was equipped with a computer for the blind. When she went to the Great Hall for a meeting, she took a special bus and took barrier-free access …

Unable to see the grandeur of the Great Hall, Wang Yongcheng listened to the grandeur of the Great Hall with his ears and measured it with his feet. Nearly 3000 delegates gathered together to listen to the government work report. At the end of each page, when everyone turned the page in unison, the sound was like a breeze blowing leaves, like waves rolling snow. For Wang Yongcheng, this is the unique voice of the two sessions and the echo of the surge of democracy.

Groups of accurate and detailed data and bursts of applause cheered Wang Yongcheng up. "Improve the care service system for the disabled … to protect the legitimate rights and interests of the disabled." Hearing these words in the government work report, Wang Yongcheng was filled with emotion and could not calm down for a long time.

New spring, new departure. "Next, I will not only actively perform my duties, but also perform brilliantly! I want to use my own performance story to tell the whole society that our democracy is the most extensive, authentic and effective democracy. " Wang Yongcheng said, "After the conference, I will bring the good policies of the party and the government to our disabled friends, and earnestly publicize, implement and guide the spirit of the conference."

Although the road is long, it will come, and although it is difficult, it will be done. Wang Yongcheng firmly said: "As a deputy to the National People’s Congress, in the next performance of my duties, I will continue to go deep into the grassroots, listen to the opinions and suggestions of the people, worry about the needs of the disabled, think about the thoughts of the disabled, and really help solve the problems that everyone is anxious about."

(Reprint should be complete and accurate, and indicate the source and author information)

The same search giant: Why is Baidu’s financial report more attractive than Google’s?

Today, Baidu released its financial report for the fourth quarter of 2019. In terms of core business progress, Baidu’s mobile business grew in an all-round way. The daily users of Baidu App reached 195 million, up 21% year-on-year, and the monthly active users of Baidu smart applet reached 316 million, up 114% year-on-year. Its positive potential further promoted Baidu’s net profit to 9.2 billion yuan in the fourth quarter, up 95% year-on-year.

Baidu’s commercial revenue has increased for three consecutive quarters, and it has continued to rebound. Its profitability is improving and it has gained more users.

Baidu mobile ecology entered the delivery period.

Behind Baidu’s sustained high growth, Baidu’s mobile ecology has taken shape, and it has now entered the delivery period and the income realization period.

At present, Baidu mobile ecology has formed three pillars: Baijiahao+smart applet+hosting page.

Looking back, we will find that Baidu’s mobile ecological layout has been constantly adjusted and upgraded in the past few years.

In the past few years, Baidu has been solving content problems by laying out hundreds of numbers; In 2016, Baidu launched an information flow product, established a dual-engine strategy of search+information flow in 2017, and released smart applets in 2018. In July 2018, after initially solving the content problem, Baidu began to build new connections. Last year, the dual ecological pattern of "No+smart applet" was gradually formed.

In December 2019, Baidu App had a daily activity of 195 million, Baijiahao had 2.6 million content producers, the release of original content was more than three times that of the same period last year, and the monthly active users of Baidu smart applet reached 316 million. The number of smart applets is 35 times that of a year ago. The initial scale of smart applets has enabled Baidu to form a closed loop from retrieving information to obtaining goods and services.

The benign interaction and content diversification ecology formed between search and Baijiahao and smart applets have gradually broken the "island" effect of the mobile Internet.

In the second half of last year, Baidu began to encourage advertisers to migrate landing pages to "hosted pages". Merchants can independently publish content, information and services to achieve efficient connection and interaction with users, reducing the risk of landing pages and improving advertising quality and user experience.

The financial report shows that in the fourth quarter, the revenue of hosted pages increased to about a quarter of Baidu’s core revenue. It is understood that the solution of hosting page has covered life service, B2B, law and other fields, and advertisers are also actively embracing Baidu hosting page.

An important reason is that those smaller businesses that do not have the development ability can use Baidu’s artificial intelligence capabilities through Baidu’s hosting marketing platform. Small and medium-sized enterprises can keep up with the latest internet technology and continuously improve the conversion rate by opening an account without buying servers and software. Moreover, the hosted page is built with a data structure, which can guarantee the quality of content and enhance the trust of consumers.

Behind the continuous high growth of Baidu App’s daily activities and user duration, the dual ecological construction of Baijiahao and smart applets has been initially completed, and the managed page mechanism has also achieved results. The three pillars have entered the delivery period from the construction period, which also gives Baidu the ability to help advertisers build a closed-loop marketing.

In fact, it also confirms Citigroup’s judgment in Q3 last year: the combination of Baijiahao+smart applet+hosting page has improved the user’s usage time and user experience; The number of in-terminal searches has increased, and it is expected that the traffic and in-terminal queries will be consistent with the income growth in the second half of 2020.

Baidu’s financial report is more attractive than Google’s.

As a search giant, Baidu is often used to benchmark Google, but at present, Baidu’s financial report is more attractive than Google’s.

Google’s previously released financial report data showed that its operating profit in the fourth quarter of 2019 was 9.3 billion US dollars, far below the market expectation of 9.9 billion US dollars. Alphabet’s revenue in the fourth quarter was $46.1 billion, less than analysts’ expectations of $46.9 billion. A number of indicators failed to meet Wall Street expectations, and the core revenue advertising business was also slightly tired. Analysts question how Google should support the trillion-dollar market value in the future.

One is lower than expected, and the other is stabilizing and warming up. Behind this is actually that the business growth space and potential brought by the ecological innovation of mobile content are different.

Behind Google’s lower-than-expected revenue is the lack of innovation highlights in the digital advertising business that supports its core revenue, the lack of achievements in the ecological layout of mobile content, and the failure to effectively upgrade its business performance and user experience, which suppresses its liquidity in digital advertising and the expectations of the capital market.

For example, it was only in September 2018 that Google announced that it would push the news of information flow through the "Discover" function, but its information flow business at this time was already two years later than Baidu’s. Nevertheless, Google only planned to invest in information flow advertisements on the home page of mobile applications in 2019, and now the effect is not obvious. Google’s core advertising model is still following the past "search" advertisements, including Google Adwords and display advertisements.

In addition, in response to the general trend of online shopping users bypassing Google search and directly searching for products through platforms such as Amazon and Wal-Mart, Google launched "popular products", which enhanced the search function of e-commerce, searched for keywords, and products appeared on the search results page with a sliding and interactive interface. However, Google’s single function, which is based on saving users and rushing online, lacks overall strategic thinking. At present, the effect remains to be seen, because the search experience of platforms such as Amazon has formed a strong appeal to shoppers.

According to eMarketer, Amazon is expected to report that its share of net digital advertising revenue in the United States will increase from 6.8% in 2018 to 8.8% in 2019. Facebook’s market share is expected to rise from 21.8% in 2018 to 22.1% in 2019. Google’s market share is expected to drop from 38.2% in 2018 to 37.2% in 2019.

Analysts are questioning whether services such as Amazon and Facebook’s Instagram are attracting online shoppers and thus attracting advertisers away from Google.

For many years, Google’s revenue has been highly dependent on advertising, but Google has not formed a set of mobile content ecology that is constantly upgrading, serving both brand commercialization and users’ rigid needs to promote the continuous improvement of its content and experience and provide incremental value to advertisers. Therefore, in the face of Facebook’s social advertising and Amazon’s e-commerce advertising, the competitiveness of Google’s old advertising model’s user experience and effect is weakened, and its advertising market is also being eroded.

However, the incremental space of Google’s original mobile mode is quite limited, so its growth is increasingly dependent on YouTube and cloud services.

However, under the strong suppression of Amazon and Microsoft cloud business, it is difficult for Google Cloud to support its second growth curve. According to research institute Gartner, Amazon AWS currently ranks first, accounting for 32.3% of the market share in the cloud computing market; Ranked second is Microsoft Azure, with a market share of 16.9%; Google Cloud ranked third with 5.8%.

However, on Baidu’s side, the three pillars of Baijiahao, smart applet and hosted page promote Baidu’s business ecology, and Baidu Mobile Ecology can better achieve the double matching of content and service, thus better retaining users and developers. And brand owners, achieving a balance between business and user experience.

In addition, Baidu carried out a comprehensive "upgrade" of information and knowledge in 2019–not only self-built content, but also strengthened the knowledge and information ecology through strategic investment.

In the past 15 years, Baidu has accumulated more than 1 billion pieces of high-quality content including knowledge, encyclopedia and library. Baidu Encyclopedia, Baidu Library and Baidu know that these three products have established cooperation with more than 7,000 authoritative organizations such as China Association for Science and Technology, China Anti-Cancer Association, People’s Daily Digital Communication, and National Literature Center for Philosophy and Social Sciences, so as to promote more authoritative and professional knowledge content and structure.

Baidu’s own content system-Post Bar, Know, Encyclopedia, Baijiahao, Iqiyi, Good-looking Video and other content and information channels have been fully connected and searched, completing the closed loop of mobile ecology.

At the same time, Baidu has successively invested in high-quality vertical content such as fruit shell, uncle Kai telling stories, Zhihu, etc., and entered the children’s content track, free reading entrance and knowledge quiz community respectively. These contents are connected to Baidu App and integrated into the product matrix such as information flow.

Take Zhihu as an example, it has 220 million users and 130 million answers, and a lot of content can already be seen on the homepage of Baidu search.

This mobile ecology with information and knowledge as the core has two values:

On the one hand, it can reflect the development trend of events through the summary, integration and analysis of information, and deepen the understanding and understanding of things. Based on a powerful knowledge map, it can help users greatly expand the boundaries of knowledge. For example, in this epidemic, the value of big data formed by "knowledge and information ecology" highlights its important decision-making value in epidemic prevention and control.

On the other hand, implement key influence on users’ key decisions. Obtaining information is a key node in the user’s decision-making path. Baidu can implement key influence on both search and recommendation decision paths, and Baidu has entered the stage of mining users’ commercial value from the pursuit of traffic.

That is to say, its entire ecosystem has formed a closed-loop and synergistic effect. Through search+information flow, it comprehensively covers the users who need search and the user groups who obtain information, and takes the "ecology with information and knowledge as the core" to intervene in every step of the user decision-making chain, accurately understanding the user’s needs. The ecological barrier of mobile content in turn improves the efficiency of advertising realization and strengthens the search moat.

However, we pull the perspective back to Google. At present, Google has not made similar innovations and layouts in the mobile content ecology, but has been adding more and more advertisements to existing search platforms and map products. Despite the overall slowdown in growth, the ninth operating profit in the past 10 quarters failed to meet expectations, Google still follows its inherent search advertising model.

This is why Baidu is more attractive than Google’s financial report, because the two have been on different tracks. Relatively speaking, Baidu has been deeply involved in the mobile content ecology in recent years, and when it is busy, Google continues to be in an old-fashioned mentality in the mobile ecological layout. Although Google is still making money, as Facebook and Amazon continue to nibble at the plates of digital advertisements, there is not much time left for Google’s layout.

Behind the high growth, the potential and value of Baidu’s business ecology

In the context of the overall pressure on the advertising industry in 2019, Baidu’s business grew steadily for three consecutive quarters. The author believes that Baidu’s mobile content eco-driven marketing model upgrade has broken through the ceiling of the advertising industry.

This is reflected in the layout of the content layer "Baijiahao+smart applet" and the touch layer "search+information flow", which can not only provide one-stop service for users, but also provide advertisers with a complete ecosystem of integrated delivery. On the one hand, Baidu’s strategy of exchanging investment for growth is quite effective, and it also stems from the steady rise of the content layout that blooms in all directions and enters the harvest season.

Especially when we compare Tencent and Baidu, which are also engaged in information flow business, this experience of content ecology is very valuable.

First, Baidu advertising puts more emphasis on user safety, which improves the advertising quality and user experience. Tencent has display advertisements, mainly Tencent News and Tencent Video. There are online alliance advertisements such as Guangdiantong, social advertisements, etc., which relatively retain the traditional advertising model and experience.

The upgrade of Baidu’s advertising model lies in that "hosted pages" greatly reduce the risk of landing pages, while the ever-developing content ecology and services attract creators and providers to put content and services on Baidu’s hosting platform, which attracts more users on the one hand and improves the advertising quality, user experience and advertising conversion rate on the other.

The second is the difference between information flow advertisements: both of them have information flow advertisements. Baidu takes Baidu App as the core, and integrates the channel traffic and content service resources within the system, providing an internal driving force for the accurate matching of user duration and advertisements. Although Tencent’s information flow business integrated QQ Watch, QQ Browser and Daily Express last year, the product lines such as Tencent News, Daily Express and Microvision are still independent.

With a high-quality product team and traffic, Tencent’s advertising business is dull or there is no closed loop in the content ecology.

Third, Baidu’s advertising revenue growth against the trend depends on its content ecology and the mature ability of the whole chain marketing model.

An important action of Baidu on the commercial side in 2019 is the launch of "N.E.X.T Baidu Full Chain AI Marketing". What it is doing is to form a full-chain user interactive marketing scheme through the combination of public domain, commercial domain and private domain traffic-from search to generating consumption intention to final consumption action, the whole link can be completed within Baidu’s ecology. Baidu AI and big data help brands to find potential users, and then rely on Baidu’s ecology.

In addition, Baidu has strengthened its IP capability. Last year, Baidu announced eight IP resources, including Baidu, Baidu National Tide Season and Good Luck China Year. Relying on the resources such as video, content and offline activities in Baidu’s ecology, from last year’s National Tide Season to Baidu’s boiling point, it can be seen that the integration and linkage of these resources and portals shortened the link between brand exposure and transformation.

For advertisers, Baidu’s AI+IP is showing new potential-various IP resources are driven by AI, forming a more diversified gameplay upgrade, and the traffic value after IP packaging has also been further developed, that is, Baidu’s content ecological layout has driven the industry marketing to break, highlighting new commercial potential.

Conclusion:

If we review Baidu’s continuous content ecological layout for many years, we can know that Baidu has been delaying its satisfaction, putting its goal in a few years and paying more attention to long-term value.

Baidu’s new financial report has gradually highlighted its upward trend, which actually means that after half a year’s adjustment, Baidu’s mobile ecology has entered a stable growth channel and entered a delivery period and a revenue period. Its layout in the mobile content ecology is also fully stimulating its users’ commercial value. Judging from its performance, Baidu’s good days may have just begun.

Author: Wang Xinxi TMT Senior Commentator This article refuses to reprint my WeChat WeChat official account: Hot Micro-comment (redianweiping) without permission.

Why do more game UP owners start to settle in watermelon videos?

Every game video creator has his own reason to start making videos, and most of these stories go back to when they have not been noticed. WindGrin likes indie games very much, but he is worried that there are not many people around him to communicate with, so he started video creation and discovered the joy of Amway games.

Another creator, China Boy, who fell asleep in WindGrin’s bed, started his production journey when he was playing computer games with his friends. Because he was pushed to the back and couldn’t play it himself, he could only record other people’s playing process with his classmate’s mobile phone in the back, during which he found that he liked and was good at making video content.

Unlike this kind of story of "realizing what he is good at", the original intention of Director Ao’s video is to attract the attention of girls who like it. Although he soon found that the girls did not watch it at all, it was useless, but the video was made today.

The above stories are all from the self-reports of these UP owners in the watermelon video "Feel at Home" column. In the past six months, 17 head video creators (Director Ao, China BOY, Black Escort, Marco, Mango Bing, 0+7, Xiaoxiao, Exhaustion, Vacation Jun, Lao E, Yun Xinghe, Dean Xiaochao, Jing Junming, Ze Ye Mantis, Xiao Keer, Director Yang, and A Passerby) have chosen to settle in watermelon videos and set up exclusive columns. Many creators are in 《

Many familiar faces came to watermelon.

What is people’s general impression of watermelon videos? Here, you can learn to cook a braised carp with "gourmet writer Wang Gang", or you can watch the Huanong Brothers cook country food with local materials. Besides the massive jokes and entertainment, you can also listen to Li Yongle’s explanation of Fermi Paradox in a relatively popular way. On the homepage of watermelon videos, from the issues concerning agriculture, countryside and farmers to urban life, these videos show all aspects of people’s lives: daily necessities of life, the latest trends of celebrities, the record of working and working mood, and the experience of popular science learning …

Many people may still remember the "wide oil" in Wang Gang’s cooking tutorial.

The rural life shown in the video of Huanong Brothers often becomes a hot topic on the Internet.

This is also the general impression of watermelon video: as a comprehensive video website transformed from headline video, the game category is not particularly prominent in watermelon video.

On June 8, 2017, the headline video was officially upgraded to a watermelon video. Although it is still a fairly young content platform, it has accumulated a lot of users. In June 2019, the number of users of watermelon video has exceeded 300 million. Under the huge volume, the proportion of game videos is not high. Therefore, when talking about game videos and game video creators, some players may not think of watermelon videos first.

Although this view is not wrong, it also underestimates the influence of the watermelon video game section: up to now, the average daily broadcast volume of the watermelon video game section has exceeded 200 million, and the more influential game videos often have millions or even tens of millions of broadcasts, which is not inferior to other game videos or live broadcast websites.

In recent years, people are very keen to watch the video and live broadcast of popular games. The game section of watermelon video has attracted many content creators and accumulated a large number of users. The game area of watermelon video has bred several video writers with tens of millions of fans, such as Lao Tearing Chicken, Chen Dabai and Sniper Mike, and their videos often have millions of plays.

Compared with other game video websites, in the past, the game section of watermelon video also had the characteristics of "popularization". Open the game section of Watermelon Video, and you will see different types of game pushes (if you have logged in, these pushes will be customized according to your preferences). From the perspective of broadcast volume, the broadcast volume of popular game content such as "Eat Chicken", MOBA mobile games or "My World" and "The Fifth Personality" is significantly higher. This is also a feature of the watermelon video game section. The content of popular games will often get more attention. The video creators of the watermelon videos mentioned above are also popular games such as "Eat Chicken" and MOBA.

In the field of popular games, watermelon videos have cultivated many popular authors who pay attention to tens of millions of levels.

Compared with popular game videos, the amount of single-player and host game videos on watermelon videos is relatively small. Many other game video platforms also have similar phenomena-for most video platforms, a few popular games have always been the main force supporting users’ consumption. This situation is determined by the number of players, and the content creation of stand-alone and console games is relatively scattered, and their communication effect is often not as good as that of popular games with strong social interaction.

However, this situation has changed recently. In the recent push of watermelon video, there have been more stand-alone and host video content. And such changes are likely to continue to happen.

The push status of video websites is a reflection of players’ concerns. Looking at the development of the domestic game market in recent years, although popular games are still in an absolute advantage in the number of players, the trend of stand-alone and console games on the rise can not be ignored. For platforms such as Watermelon Video, this trend means new opportunities. They can enrich their own content according to market changes and make their own ecology more complete.

The domestic game industry has experienced abnormal development for quite a long time. The ban on game consoles has brought the prosperity of PC games, and the prosperity of PC games is concentrated on online games. Due to the difference in income level and consumption concept, the market performance of stand-alone and console games has always lagged behind in China. After a slight decline in the end-game era, multiplayer mobile games have become a new craze.

However, in recent years, with the lifting of the ban on game consoles and the development of many PC digital game stores, the awareness of stand-alone and console games among mass players has been increasing, and domestic manufacturers have begun to launch their own game platforms. In terms of video and live broadcast platforms, the impact of this change is that the amount of single-player and host games has increased in recent years.

As mentioned above, there are a large number of users of watermelon video, and the traffic in the station is considerable. In the game section, these traffic are especially concentrated in popular categories such as "eat chicken" and MOBA. This means that it is difficult for them to seek high-speed or substantial data growth in this aspect, and at the same time, this "partial subject" status quo is not conducive to the construction of more meta-ecology. Therefore, in order to seek more new opportunities and provide more content from different angles, watermelon video needs to start with more potential content-stand-alone and host content just meet the needs.

Of course, all this can’t be done overnight. Despite the huge potential users, the attempt of watermelon video still faces some challenges.

First of all, competitors in the watermelon video game section have accumulated many users. In the early development, these websites often focus on the characteristics of one or several target player groups and optimize the arrangement and coverage of related content. For users who are used to watching these contents on other websites, why go to Watermelon Video has become a problem.

Secondly, watermelon video is a comprehensive video website, which will not make people think of ACG at the first time when they talk about watermelon. In a sense, this may lead to a prejudice: players who don’t know it may think that watermelon video doesn’t seem to have much important game content output, and they won’t look for specific content in it.

In the final analysis, video websites provide video content, and the content is always created by video producers. No matter what people’s previous habits and their impressions of something, it is important to pay attention to the future and provide more viewers with what they want to see.

For a platform, good content creators are extremely valuable, and they bring target users to the platform through high-quality content. Watermelon video, which wants to attract more users related to stand-alone and console games, naturally needs content creators in this field. At the same time, this is not a unilateral demand of watermelon video platform. In fact, any platform and content creators are mutually beneficial and symbiotic. Platforms need creators, and creators also need platforms. What the platform needs to give video creators is a reason, a reason why they come to this platform, or even a reason to provide exclusive content for a platform.

When talking about his own creation, Director Ao thinks that "the previous video feeling has taken shape, and there is not much room for improvement", and coming to Watermelon Video also wants to "take a brand-new challenge, create a new video series, and do what he wants to do". During the one-year visit to Watermelon Video, Director Ao has released 371 videos and accumulated more than 2 million fans.

One year after entering Watermelon Video, Director Ao has more than 2 million fans.

Creators such as Director Ao have already had a high reputation before, and they have achieved good development in watermelon videos. After Director Ao settled in Watermelon Video, he endorsed the "Dreamer Plan" of Watermelon Video. Compared with attracting famous creators, this plan encourages newcomers to create on watermelon videos. The plan claims that the creators of game videos will be evaluated not on the basis of broadcast volume, but on the basis of content quality. Creators with excellent quality can enjoy the rewards of signing contracts, doubling traffic or doubling revenue.

The same support project for newcomers is "Watermelon University", which provides a detailed guide for newcomers from the technical level to the content level. In addition, newcomers will also get the docking and guidance of the operation specialist and get more help in video creation.

According to the introduction of watermelon video, the "Game Dreamer" program aims to select and support potential new authors and provide them with traffic support and professional training programs. At present, this activity has been held for three seasons.

There are many authors in the game field in Watermelon University to share their experiences. Besides, there are many tutorials and help on video production.

The creation of video is indispensable to the support of tools. Not long ago, Lao Tear Chicken uploaded a live video of Watching Pioneer with 4K quality on his own channel. Some viewers lamented 4k@60 frames in the barrage, which greatly improved the viewing effect. On the second day after the video was released, Watermelon Video announced that it supports video uploading with 4K resolution, 120fps frame rate and 320kbps audio rate for free, hoping that better image quality can help UP owners improve their fans’ stickiness or attract new fans. At the same time, Watermelon also launched a watermelon creation platform for creators, which provides the functions of viewing data summary, traffic tracking, fan portraits and other information, providing more efficient creative support for content creators.

At present, most mainstream stand-alone and console games have supported 4K, and this audio and video upgrade of Watermelon allows video viewers to enjoy the audition experience similar to that of UP owners.

When ordinary people want to try video creation and even develop it into their own career, they are often scared off by the high cost and threshold of creation. Watermelon video helps some UP owners to smooth this threshold by providing revenue methods such as platform sharing, e-commerce realization, live broadcast realization, content payment and advertiser list. At present, the old tearing chicken with 17.1 million fans was just a security guard when he first came into contact with video creation. When the enthusiasm was rewarded accordingly, Lao Tear Chicken finally developed his hobby into a career.

It is worth mentioning that at the moment when the creator’s income is linked to the flow, the huge flow of watermelon video can provide a good return for content creators. At the same time, watermelon videos often launch different incentive plans to encourage content creation. For example, in June, Watermelon Video announced the "Movable Type Plan", announcing that it would provide 100 million yuan in cash and 100 million yuan in traffic to support graphic writers to create video content.

For watermelon video, this is a virtuous circle: attracting video creators through its own mechanism, attracting and retaining viewers through the high-quality output of video creators, and increasing the number of users and its own income through the increasing audience.

In the past, compared with popular games, the content of stand-alone and host games of watermelon video received less attention, but this situation has changed with the arrival of more stand-alone and host UP owners in recent six months, and the video content of stand-alone and host games is expected to become a new growth point of watermelon video game section. For watermelon video, this change will also make the content of the game section more balanced and diverse, and can provide more users with more interesting content.

More specifically, the uniqueness of Watermelon Video lies in that it is a more popular video website and adopts a customized push mode. This means that the game content appearing on the watermelon video will be pushed to more potential users more accurately. These users may not even be gamers, but they are actually interested in the game.

No matter what industry you do, the most difficult thing is to break through the circle. In this sense, it is more important to let more people who don’t play games know about games than to let people who like games see the videos they want to watch-which is beneficial to the whole industry.

At the same time, if watermelon video becomes more attractive in stand-alone and stand-alone video, the creators of game video also have more choices. In order to attract more content creators, major video websites also need to provide more reasonable returns, broader development space and better experience. For many video producers, how to produce excellent content continuously and stably and how to attract more attention are always problems, and a good platform will help a lot.

The weekly sales volume of Buick GL8 reached a new high, reaching 3,210 vehicles in the third week of December.

  # Model Weekly Sales Record # # Big Event # Just now, Buick announced the terminal sales of the GL8 family in the third week of December, and Buick GL8 model set a weekly sales record with 3,210+vehicles, an increase of over 15% from the previous month.

The weekly sales volume of Buick GL8 reached a new high, reaching 3,210 vehicles in the third week of December.
The weekly sales volume of Buick GL8 reached a new high, reaching 3,210 vehicles in the third week of December.

  At present, Buick GL8 family double 12 promotion season is in progress. From now until December 31, all Buick models will be given a compulsory insurance and the existing preferential policies will be superimposed: GL8 PHEV 0 interest 0 routine, the replacement subsidy will be up to 45,000, and the maximum savings will be 130,000; GL8 Lu Zun starts from 269,900 yuan, the replacement subsidy is as high as 40,000 yuan, and the additional purchase subsidy can enjoy 5,000 yuan; GL8 business class on land starts from 197,900 yuan, and the replacement subsidy is up to 30,000 yuan, and you can enjoy 24 installments of zero interest.

[Cherry Blossoms Open Again —— Reviving Hubei after the Epidemic] Revitalize the trial operation of the water "expressway" in the Yangtze River Economic Belt

  Cctv news(Reporter Tang Shiying, Wang Xiaoying, Luo Chuan) On March 30th, the national online media Hubei Tour came to the site of "Regulation Project of 6-meter-deep Waterway in Wuhan-Anqing Section of Yangtze River Trunk Line" in Ezhou City. Li Ping, executive deputy manager of the II Project Department of Wu ‘an Section of Yangtze River Trunk Line, introduced that on March 26th this year, the regulation project of 6-meter-deep Waterway in Wuhan-Anqing Section of Yangtze River Trunk Line (referred to as Wu ‘an Section Project) was fully completed and put into trial operation.

  This means that 10,000-ton river-sea ships can reach Wuhan all the year round, forming a "water expressway" that "runs smoothly in Hubei, Jiangxi and Anhui, and reaches Jiangsu, Zhejiang and Shanghai" to revitalize the Yangtze River Economic Belt.

Ecological beach consolidation project (picture from official website of Yangtze River Waterway Bureau)

Ecological beach consolidation project (picture from official website of Yangtze River Waterway Bureau)

  In 2014, the Hubei Provincial Party Committee and the provincial government submitted a request to the Ministry of Transport for the construction of the "6-meter-deep waterway from Anqing to Wuhan and 4.5-meter-deep waterway from Wuhan to Yichang" (referred to as the "645" project). In March 2016, the "645 Project" was included in the National Outline of the Yangtze River Economic Belt Development Plan and the "Thirteenth Five-Year Plan" of the Ministry of Transport.

  In October 2018, Wu ‘an Section, one of the main projects of the "645 Project", started construction. The waterway regulation project of Wu ‘an section of the Yangtze River trunk line spans Hubei, Jiangxi and Anhui provinces, with a total length of 386.5 kilometers, starting from Tianxingzhou Yangtze River Bridge in Wuhan, Hubei Province, and ending at Anhui Anqing, Anhui Province, and systematically regulating seven navigation-blocking beach sections such as Luohuzhou and Daijiazhou.

  Before the regulation, some waterways were winding and shallow, which was the "intestinal obstruction" that restricted the capacity of the Yangtze River trunk line. The implementation of waterway regulation will effectively solve the outstanding problem of "deep at both ends and shallow in the middle" of the Yangtze River trunk channel, and form a super-large "water expressway" linking the four provinces of Hunan, Hubei, Jiangxi and Anhui in the middle reaches of the Yangtze River, which will greatly promote the construction of the shipping center in the middle reaches of the Yangtze River in Wuhan, and the navigation capacity of the Yangtze River trunk channel will also achieve an overall leap, thus promoting the upgrading of the comprehensive transportation system along the Yangtze River.

Lejiawan Beach Control Project (Image from official website, Yangtze River Waterway Bureau)

Lejiawan Beach Control Project (Image from official website, Yangtze River Waterway Bureau)

  Li Ping introduced that a total of 15.4 kilometers of ecological revetment, 1.46 million square meters of ecological beach consolidation and 3 ecological conservation areas were built in Wu ‘an section.

  In this waterway regulation, more than 6 million fry were released by adhering to the principle of "ecological priority and green development", forming a complete set of green waterway construction technology, and comprehensively utilizing the dredged soil of the waterway to support the construction of major projects along the Yangtze River, including providing 1.19 million cubic meters of dredged soil for Ezhou Huahu Airport. The project also pioneered real-time monitoring technology to dynamically monitor the sinking and drainage construction, which filled the gap in China.

Ecological revetment project (picture from official website, Yangtze River Waterway Bureau)

Ecological revetment project (picture from official website, Yangtze River Waterway Bureau)