All your concerns about secondary water supply are here.

With the increasing number of high-rise residential buildings, secondary water supply has become a problem closely related to people’s livelihood. Recently, some citizens have reported that there is a problem with the secondary water supply in their homes: some homes are empty, but the water meters are turning; Some question that there is a lot of water consumption in the home, but the property cannot be solved; Some people think that the water pressure of secondary water supply in the home is a little low, and hope that the water pressure can be high … The problem of secondary water supply has become one of the hot issues of public complaints.

A citizen who lives in Mulan Garden, Dragon City, Oriental reported that his home is a secondary water supply. In the past, the water used to be normal and the water pressure was high. "The bath is standing far away, and the water from the faucet can also be drenched." However, since the water supply company adjusted the water pressure, the water pressure in the home has become lower. Many residents in the same building have the same confusion, and the water experience is not as good as before. It is suggested that the water supply company adjust the water pressure to the same high as before.

The reporter learned from Huayan in Wuhu that the high water pressure has an impact on the lives of residents in the community! With the change of occupancy rate and water consumption, Wuhu Huayan will adjust the secondary water supply pressure according to the relevant national standards to achieve energy-saving, efficient, time-saving and labor-saving high-rise water supply!

"At this stage, before 2015, most of the secondary water supply facilities and pump rooms in Wuhu City were built and operated by real estate enterprises. After delivery, the operation and maintenance of the secondary water supply equipment were managed by the residential property company. In case of insufficient pressure and increased water charges, the main target of citizens’ consultation and reflection was our water supply company." Wuhu Huayan staff introduced that due to some enterprises’ unprofessional management, poor service, aging facilities unable to maintain, untimely cleaning and disinfection of water tanks (pools), and chaotic use of equipment brands and quality, failures occurred from time to time, which brought hidden dangers to water supply safety. The water supply company does not own the property rights of these secondary water supply facilities, nor is it authorized to manage these equipment, only to ensure that the water is qualified when it enters the community.

In 2015, Wuhu City issued the Measures for the Administration of Secondary Water Supply in Wuhu City and other relevant laws and regulations, requiring that the management of secondary water supply be comprehensively strengthened to ensure the safety of urban water supply. Subsequently, Wuhu Huayan actively participated in the formulation of secondary water supply standards, project construction and handover, and 66 projects have been completed and put into operation. It has played a positive role in promoting the standardization construction of secondary water supply facilities in Wuhu, and also opened a good start for the future work of "unified construction and unified management" of secondary water supply.

The reporter learned that the problems reflected by residents of secondary water supply are mainly in the following aspects:

Is the water pressure of secondary water supply as high as possible?

Some residents may think that the higher the water pressure, the better, which is more comfortable to use. In fact, there is an upper limit on the pressure of water supply pipeline. If the pressure of water supply is too high, it will do great harm to pressurizing equipment, water supply equipment and water consumption equipment. According to the standard of Technical Specification for Secondary Water Supply Project in Anhui Province, the pressure of the lowest-level household pipe in each partition should not exceed 0.35Mpa. If the community supplies water with ultra-high pressure for a long time, it will cause great harm.

Water supply exceeding the design pressure will not only lead to the long-term overload operation of the pressurized water pump and increase the power consumption (increase the owner’s share of electricity), but also the pressurized related equipment (water pump, check valve, connector, butterfly valve, etc.) will be easily damaged. Long-term ultra-high pressure water supply, the pressure of water supply pipeline exceeds the design value, which is easy to cause water leakage and damage of water supply equipment pipeline (especially pipeline joints and bends in weak links), and increase the phenomenon of leakage and pipe explosion. On the one hand, it will often stop water maintenance, affect residents’ lives, on the other hand, it will also cause water waste and increase the water sharing of residents. Because the water pressure requirements of household sanitary wares and household appliances are designed according to national standards, the long-term high water pressure of households will also lead to the damage of the toilet bowl, affect the service life of water heaters and faucets, and the household water consumption will also exceed the normal range, resulting in an increase in electricity bills.

I am away from home for a long time, why does the water meter generate expenses?

This is because there is air in the water pipe due to the pressure of the pipe mixed with air and the change of water temperature, and the pulsation effect caused by it makes the water meter installed in some positions slowly move when there is no running water. Wuhu Huayan suggested that users should contact the management unit of secondary water supply to help close the valve before and after the water meter, so as to avoid idling of the water meter.

Why does my home use secondary water supply on the fifth floor?

This is designed according to the actual situation of the developer in the early stage of construction, which may be caused by the high floor height, high terrain and low local water pressure.

Is the water quality of secondary water supply guaranteed?

Since the promulgation of the Measures for the Administration of Secondary Water Supply for Urban Residential Buildings in Wuhu City in 2015, according to the relevant regulations, the secondary water supply management unit needs to clean the secondary water supply tank every quarter, and the health and epidemic prevention department needs to conduct random inspections and issue relevant water quality test reports.

A woman renting a degree room in Longgang can only rent it for a long time if the landlord asks for 80 thousand (Figure)

  According to the current policy, renting a house can apply for points admission, but the landlord needs to cooperate with the street rental office to apply for a lease certificate, which is commonly known as a lease contract. However, many parents are stuck by this certificate because the landlord does not cooperate. Today, some citizens reported that some landlords were willing to cooperate, but the asking price was outrageous.

  Dapeng points lowland citizens go to rent houses.

  Ms. Zhou, who lives in Longgang, said that her child will go to primary school next year. According to the current regulations, she needs to apply for a lease contract before April 1 this year, and her child will be able to go to school normally next year. However, she is not a deep household but also a point for renting a house. The surrounding schools generally need more than 70 points. Obviously, her points can’t be a good school. So she turned her attention to Shenzhen School, a high school affiliated to the National People’s Congress in Dapeng New District.

  The new school is popular, and the rent has soared.

  Shenzhen School attached to the National People’s Congress is a school that was put into use only in 2017. There are not many students around, so the score is relatively low. According to Ms. Zhou’s points, children will definitely be able to attend school. Everything is ready except for renting a house, so Ms. Zhou chose one of the rented houses at the beginning of this year.

  Can only rent for a long time and ask for 80 thousand

  Ms. Zhou said that because the house has a degree, the owner thinks that if Ms. Zhou is allowed to use this degree, it means that the house will be locked in a six-year degree. Therefore, not only the price increase, but also the long-term rent, the rent for two years at a time, this account is counted. Let Ms. Zhou’s heart cool.

  The rent has all gone up, including the degree fee

  Ms. Zhou said it was really difficult for her to take out so much money at one time. Ms. Zhou thought that he was not the only degree room in Shenzhen School affiliated to the National People’s Congress, so she continued to look for other houses, but she didn’t expect the rents around her to rise in just half a month.

  Blank houses are also rented for six years and sixty thousand yuan.

  Ms. Zhou said that it is not an individual phenomenon that the high-priced rental degree is near the Shenzhen School affiliated to the National People’s Congress. The owners even have a unified market price. Recently, there has also been a phenomenon of renting blank houses. As the name implies, blank houses can’t live in people, but the rent is 10 thousand yuan a year, and it will be 60 thousand after six years.

  A number of real estate degrees have been rented out.

  Later, the reporter went to a housing agency near the school. The staff introduced that the additional fee for degree rooms is a tacit understanding recently formed by the owners. The price has gone from a few thousand yuan at the beginning to 11,000 years now, and the rough houses are already in short supply, and they are all rented out but not occupied. The Shenzhen School affiliated to the National People’s Congress, which originally had few students, suddenly became lively.

  In the past, we often heard about sky-high degree rooms, all of which were about buying degree rooms. It is very rare to rent a degree room at such a high price. After all, it is basically difficult to apply for a good degree and rent points. However, it happened that this abnormal phenomenon occurred in Shenzhen School affiliated to the National People’s Congress in Dapeng New District. Should the relevant departments take care of it?

  An agreement before renting a house can reduce disputes

  Lawyers believe that the degree room includes housing points and rental points, which are in conflict, which means that once the degree room is locked for six years in the name of renting, it is equivalent to occupying the owner’s degree in buying a house. Therefore, when the tenant and the owner sign the rental contract, they should clearly agree on the use of the degree in advance, and the owner will get some extra compensation, which is legally protected.

  Beware of price war, the government should intervene.

  In real life, many tenants have not agreed with the owners in advance. After renting, they find that they need a degree, so they are prone to conflicts. At present, laws and regulations have not made clear provisions, so they can only solve them through consultation. The lawyer pointed out that in either case, it is reasonable for the degree price to be adjusted according to market rules without legal prohibition, but the price war in special areas should be prevented.

  The government should strengthen the verification of the degree of renting blank houses

  The survey found that some owners priced their rental houses and degrees separately, which caused a lot of chaos. For example, the previous "First Scene" survey showed that an intermediary collected money to help people handle the lease contract, so that students who had not rented in the area were eligible to enroll in the school. In the neighborhood around Shenzhen School affiliated to the National People’s Congress, some owners sell rough houses, and the actual houses are uninhabited. The education department and the leasing department should strengthen supervision.

  Post-event household verification should make a difference.

  Lawyers, on the other hand, believe that it is reasonable for the leasing office to relax its control on the premise that the registration of housing lease contracts is not mandatory. Therefore, in the follow-up verification, it is necessary for all departments to jointly plug the loopholes, so that the actual renter can obtain the qualification to enter the school nearby. According to the current regulations, it takes one year for the lease contract to participate in the points, and during this year, the street office should do a good job of verification.

36 days in advance! The longest 618 opening in history: the official announcement of the live broadcast room of JD.COM supermarket called for a 10% discount on the spot in Li Jiaqi.

  This year’s 618, as the sponsor, JD.COM will start at 8: 00 pm on May 31st, while Tmall intends to pre-sell at 8: 00 pm on the 13th. Therefore, JD.COM started the Heart Shopping Season at 8: 00 pm on the 13th. This also made the 618 e-commerce war 36 days ahead of schedule for the first time, thus becoming "the longest 618 in history".

  As the head gun of "the longest 618 in history", Li Jiaqi, the head anchor of Tmall, started the pre-sale of 618 on the 13th. On the same day, JD.COM Supermarket officially announced that the live broadcast room of JD.COM Supermarket will be broadcast simultaneously with Li Jiaqi, and the same or similar goods will be sold in stock, and a 10% discount will be given on the price of the live broadcast room in Li Jiaqi, which is full of gunpowder.

  It is understood that when you open the JD.COM APP and search for "JD.COM Supermarket Purchase and Sale", you can enter the JD.COM supermarket purchase and sale live room and buy 10% off the same spot goods in Li Jiaqi.

  According to reports, with its exclusive "self-operated mode" advantage, JD.COM abandoned intermediate links, directly purchased from brands, and greatly reduced commodity prices with the advantage of large-scale procurement; At the same time, different from the live broadcast mode of other platforms, all the live broadcast rooms in JD.COM have "no pit fee and no commission", which will benefit consumers and realize the lowest price in the whole network.

  Different from the anchors with goods on other platforms, JD.COM is an expert in a certain kind of goods, and the goods sold in the live broadcast room are one of the best in JD.COM, with the best quality and the highest cost performance. Data show that last year, the order volume of live broadcast rooms in double 11 and JD.COM increased by 3.8 times year-on-year.

  It is understood that this year, JD.COM 618 integrated state subsidies, take-away sales of 10 billion yuan, agricultural subsidies of 10 billion yuan, and factory goods subsidies for the first time, bringing consumers the preferential treatment of "making up and making up".

  On May 13th, Li Jiaqi said that it would start random red envelope rain in the live broadcast room, and set different red envelope limit numbers according to different fan levels. If the fan level is low, the number of red envelopes that can be grabbed will be greatly limited.

  On the contrary, the live broadcast room of supermarket in JD.COM said that they would not classify users into three categories, and all consumers would be treated equally, with the same rights, they could receive the same red envelope, enjoy the same preferential strength and would not engage in price discrimination.

007, the double 11 party when the President came to power, this was a chaos in film and television marketing!

    1905 movie network news On the day of "double 11", an "double 11" party, which lasted for more than four hours, was held in the Beijing Water Cube last night, in order for all the people in China to happily buy it in buy buy. According to incomplete statistics, the local tyrants’ party, which cost more than 50 million yuan, was created by our Chinese New Year director Xiaogang Feng. So, apart from fancy telling everyone what to buy, one of the highlights of this party is the placement of movie advertisements (of course, this is also the specialty of small steel cannons). Looking at the whole party, Mr. Ma Yun, our gang leader and spokesman of local tyrants, told everyone that working for BAT in the film industry is by no means a sham.

 

    From to, several upcoming Chinese New Year blockbusters, and then to popular American TV series, plus the appearance of all-star cast, this is not a party, it is simply a big chaos in the marketing implantation of film and television circles: when the propaganda dog meets single dog, it is simply a broken heart for the film.

 

Ma Yun and daniel craig came to the finale.

007 Most Surprise: Ma Yun "shows off" the color for "Bond" daniel craig.

 

    As early as the opening of the "Double Eleven" party, the hosts sold a pass and said meaningfully, "Cats’ paws extend to all parts of the world". Two-thirds of the party, Jane Zhang sang the theme song, and after the song ended, he told everyone that "007 will be released soon, don’t miss it", and the suspense escalated — — Please note that this is the first oral broadcast time of the star.

 

    At almost zero o’clock, the whole party ushered in a surprise and climax: daniel craig in "007: Ghost Party" really came, and what is even more incredible is that the "bond girl" came from our gang leader, and there was a classic picture of Ma Yun standing at Bond’s gun with a wig and heavy makeup on the big screen. "Ladies and gentlemen, you are not mistaken, he is our’ bond girl’!" With the excitement and screaming of the host, the "Wang" appeared in a suit and tie, and came to work with Mr. Bond, a British agent, to send 11 luxury cars for everyone!

 

    As the 24th Bond film series, The Ghost Party’s trip to China was very grounded. daniel craig, who has always been unsmiling and cool and arrogant in the film, showed his closeness to the people, so he boarded the "double 11" party handsomely and coolly, spent a full moon with Ma Yun’s "bond girl" and "bachelor night". Later, he will also meet with "bond girl". — Do you still feel too far away from such a cold British agent?

 

Xiaogang Feng went on stage to sell advertisements.

Feng Family: The producer’s Bad Guy Must Die and the actor’s mr. six are indispensable.

 

    Using stars to attract the audience is an essential means of the party. So how to let the stars promote their own resources by the way, then Xiaogang Feng’s best "advertising implantation" will begin.

 

    The most interesting (or controversial) passage in the whole party was the talk show "Strange Goods" with fancy advertisements brought by Zhao Wei, Ma Dong and Gao Xiaosong: three people brought their own props, changed their ways to promote their own red wine, "Strange Flowers" and "Strange Talks with Xiao Song". In fact, this slightly embarrassing talk show is a "hard and wide" that says no advertising but no words.

 

    Xiaogang Feng, the general director, also pretended that he couldn’t stand it, and ran to the stage to "bomb" the three of them, and then swaggered for his starring "mr. six" directed by Guan Hu. In addition, Xiao Gang Bao also invited the Korean rock band CNBLUE to sing the theme song "cinderella" of the Chinese-Korean co-production film "The Bad Guy Must Die" produced by him. This "softness" of the handsome sunshine fresh meat men really hit the hearts of the post-90 s, causing fans to be elated and shouting "Ouba, get stuck!"

 

The famous American singer adam lambert took the stage.


The president of "House of Cards" teased the Double Eleven.


American TV series: "House of Cards" and "Game of Thrones", American presidents want buy buy to buy them!

 

    After taking care of the post-90s generation of Ha Han, how can we neglect the young and middle-aged people who love watching American TV series? The joining of American TV series in the party is really deeply rooted in people’s hearts, and House of Cards and Game of Thrones also appeared one by one. Kevinspacey fowler, the "American President" in House of Cards, loves to get humor back at the party. Previously, he was most praised for suddenly turning around at the Golden Globe Awards, and a "house of cards" style spit came to his seat. This time, China was far away, so he recorded a video in the "White House". He even laughed and said that the firewall in the White House was tight, and he wanted to shop but couldn’t do it at all. Then he stood up and told everyone how to "cross-dress" at ordinary times. I believe that his Taobao version will be available with the search soon.

 

    In addition, when adam lambert, a famous American singer, sang on stage, she was sitting in a chair full of precious knives in Game of Thrones, and she was proud from beginning to end, which made American TV dogs not lick their screens and become materialistic.

 

TFboys

Talk about live broadcast again: exhausted film shooting techniques TFboys backstage dressing live show.

 

    The whole live broadcast not only caused many singers to fall into the hardest hit areas, but it is noteworthy that Xiaogang Feng used a lot of filming positions and photography techniques to show the party scene in many directions. For example, TFboys, these small fresh meats, are all delicious and attractive, and the cameras at the party have met the wishes of the broad masses of the people. After the end of one of their songs, the camera has been following TFboys to step down. The details of the three people’s changing scenes and discussions with the staff are truly displayed, which is a bit like the feeling of being in the mirror. After the party, many viewers felt: The original live broadcast can be played like this, thanks to the camera!

 

    In addition, as soon as Hua Chenyu opened the scene, he rocked up from just below the stage, and only Hua Chenyu used this seat for the whole party. Farewell to the fixed seat and simple push, pull, shake, move, follow, rise and fall, showing a dark and heroic temperament.

 

    When the festival in single dog was gradually replaced by the "Chop Hands" Festival, it became an out-and-out shopping carnival, and at the same time, it gradually became a national carnival in a wider range, including entertainment circles and film and television circles. Online sales are constantly setting a new record, and movies and stars are also infiltrating bit by bit unconsciously. Just before you notice any clues, in fact, the advertisements have been broadcast and the publicity has been completed. However, the people who don’t know the truth have to continue to buy in buy buy and silently sigh: "The city will play!"

 

The collapse of the working face at the construction site pulls off the water supply and gas supply pipeline.

Yesterday afternoon, an accident occurred at a rail transit construction site on Nanbin Road, Nan ‘an District. Hundreds of square meters of ground in the construction site suddenly collapsed, and underground gas and tap water pipelines were pulled off. Due to the gas leakage, a fire was also ignited.

At four o’clock in the afternoon, some citizens found that there was an abnormal sound coming from the construction site of this rail transit, and soon a raging fire broke out.

Witnesses said that after hearing the abnormal sound, they saw a large area of ground collapse in the construction site, and the gas pipes and water pipes located in the collapsed area were broken one after another.

It is understood that after the incident, this area of Nanbin Road stopped water and gas. According to the on-site construction personnel, there were signs of ground subsidence at that time, and the workers had already evacuated.

The repair personnel said that the gas pipeline has been repaired and the gas supply in the residential area has basically resumed. The water supply pipeline is being welded at the end, and the normal water supply can be fully restored at night. According to reports, no one was injured in the accident and the cause of the accident is still under investigation.

The Central Meteorological Observatory issued a yellow typhoon warning at 10: 00 on July 16th.

CCTV News:According to the website of the Central Meteorological Observatory, the center of the No.4 typhoon "Taili" (a strong tropical storm) this year is located at 9: 00 am today (16th) in the northeast of the South China Sea, about 660 kilometers south-east of Zhanjiang City, Guangdong Province, China, which is 18.9 degrees north latitude and 116.2 degrees east longitude. The maximum wind force near the center is 10 (25m/s), and the lowest pressure at the center is 985 hectopascals.

It is estimated that "Taili" will move northwest to north-north at a speed of about 15 kilometers per hour, and its intensity will gradually increase. It will land on the coast from Taishan in Guangdong to Wenchang in Hainan on the night of the 17th (typhoon level or strong typhoon level, 35-42m/s, 12-14), enter the Beibu Gulf on the 18th, and then move towards the northern coast of Vietnam.

Gale forecast: From 14: 00 on July 16th to 14: 00 on July 17th, there will be 6-7 winds in most parts of the South China Sea, coastal areas of Guangdong, eastern Beibu Gulf, Xisha, Zhongsha, Nansha and Huangyan Island, 8-10 winds in some sea areas in the central and northern South China Sea and near Dongsha, 11-12 winds in the sea areas and islands where the typhoon center passes, and 13-14 gusts.

Precipitation forecast: From 14: 00 on July 16th to 14: 00 on July 17th, there will be moderate to heavy rain in parts of southern and northern Guangdong, Hainan Island, southeastern Fujian, central and southern Jiangxi and southern Taiwan Province Island, among which there will be heavy rain or heavy rain (100-160mm) in Hainan Island, southern Leizhou Peninsula and southern coastal areas of Guangdong.

The business income of multinational pharmaceutical companies in China market surfaced, with Merck and AstraZeneca both exceeding $5.8 billion.

  【Industry trends of pharmaceutical networkBased on the huge market demand in China and the continuous optimization of the policy environment, many foreign pharmaceutical companies have actively increased the layout of the China market and achieved good results. With the global pharmaceutical companies disclosing their 2023 financial reports one after another, their business income in China market also surfaced.
 
  According to combing, in 2023, Merck’s business income in China reached 6.71 billion US dollars; AstraZeneca’s business income in China reached $5.876 billion; The business revenues of Novartis, Sanofi, Roche, Novo Nordisk and Lilly in China were US$ 3.267 billion, US$ 3.184 billion, US$ 3.171 billion, US$ 2.42 billion and US$ 1.54 billion respectively.
 
  According to the 2023 financial report released by Merck, the company’s global sales in 2023 were US$ 60.1 billion, a year-on-year increase of 1%; The net profit of returning to the mother was $365 million, a year-on-year decrease of 97.49%. Among them, Merck’s revenue in China in 2023 was USD 6.71 billion, accounting for 12.5% of the company’s global market, with a year-on-year increase of 32%.
 
  According to the industry, Merck has successfully seized the growth opportunity of China market by continuously introducing new original drug products and cooperating with local companies. In 2023, Merck’s layout and strategy in China market received positive feedback and became a multinational pharmaceutical company with good performance in China in 2023.
 
  According to AstraZeneca’s 2023 results, the company’s total revenue in 2023 was 45.811 billion US dollars (+3%), of which product revenue was 43.789 billion US dollars, up 2% year-on-year. After deducting COVID-19’s products, the total revenue was US$ 45.488 billion, up 13% year-on-year. In terms of regional distribution, the annual income of the US market was US$ 19.077 billion, a year-on-year increase of 6%. Emerging markets reached US$ 12.025 billion, a year-on-year increase of 2%. Among them, China contributed US$ 5.876 billion, accounting for 13% of AstraZeneca’s global market.
 
  It is understood that since the beginning of this year, AstraZeneca has also continuously increased its production and R&D layout in China. For example, in early March, AstraZeneca and Wuxi officially signed a cooperation agreement on a new small molecule innovative drug factory project with a total investment of 475 million US dollars, which will realize the production of specific small molecule drugs from preparation to packaging in Wuxi, and strive to build AstraZeneca into one of the global production and supply bases in China.
 
  AstraZeneca recently announced that Shanghai has become its fifth largest global strategic center. Shanghai, China will become a global strategic center integrating R&D, commerce, production and operation in addition to the four R&D-oriented strategic centers in Cambridge, Boston, gaithersburg and Gothenburg, Sweden, and become an important strategic fulcrum for AstraZeneca’s global strategy, R&D and long-term development.
 
  According to the 2023 financial report released by Novartis, the company’s annual revenue in 2023 was 45.44 billion US dollars, a year-on-year increase of 10%; Net profit was $8.572 billion, up 62% year-on-year. In 2023, Novartis achieved an operating income of $3.3 billion in China, a year-on-year increase of 17%. It is reported that in terms of production capacity, Novartis announced on December 1, 2023 that it plans to invest more than 600 million yuan to set up a radiopharmaceutical production base in Haiyan, Zhejiang, in order to accelerate the pace of introducing innovative radioligand therapy into China.
 
  According to the 2023 financial report released by Sanofi, the company’s sales in 2023 reached 43.07 billion euros (46.52 billion dollars, converted at the current exchange rate of 1 euro =1.08 dollars, the same below), a year-on-year increase of 5.3%. From the geographical distribution of income, the US market is still the main battlefield of Sanofi, contributing 18.512 billion euros (about 20.243 billion US dollars) in revenue, up 4.8% year-on-year; China’s market revenue was 2.912 billion euros (about 3.184 billion US dollars), and its growth rate also slowed down (0.4% in 2023 and 6.2% in the same period last year).
 
  It is reported that in 2023, Sanofi was approved for 12 innovative products and indications in the China market. Earlier, it announced that it planned to introduce 25 innovative products and indications in China from 2020 to 2025. With the approval of Le Weichu, the first respiratory syncytial virus prevention method for all infants at the end of 2023, Sanofi announced that it would achieve its goal two years ahead of schedule.
 
  In addition, Roche achieved a total revenue of US$ 65.627 billion in 2023, including China business income of US$ 3.171 billion, an increase of 6%. In 2023, Novo Nordisk’s revenue reached about 33.771 billion US dollars, a year-on-year increase of 31%; The company’s operating profit also increased by 37%, reaching about $14.914 billion, of which China’s business income was $2.42 billion, an increase of 11%. Lilly achieved revenue of $34.124 billion in 2023, up 20% year-on-year, net profit of $5.24 billion, down 16% year-on-year, and revenue of China District was $1.540 billion, up 11% year-on-year.
 
  Disclaimer: In any case, the information or opinions expressed in this article do not constitute investment advice to anyone.

The Big Four covers 45% of the market, and the stores are diversified and transformed into the normal state | North American accident car maintenance chain TOP10

introduction

In the first two weeks, Xiao Bian took stock of the list of quick oil change and quick repair and quick maintenance chains in the United States.Some enthusiastic readers left a message saying that they hope to have another issue dedicated to introducing the American accident car maintenance chain. Well, this is the introduction.

Executive summary:

  • The Big Four are currentlymainofThe growth means is to buy small accident car maintenance chain;

  • It is estimated that before 2021,The Big Four will cover 45% of the American accident car repair market;

  • The speed of merger and reorganization slowed down, and the giants began to consider purchasing strategic clusters;

  • technologyinnovateIs playing a role in promoting market changes;

  • outletsDiversified transformation will become the norm.

A brief introduction to the top 10 accident car maintenance chains in the United States

1. Boyd group,One of the four giants of the American accident car maintenance chain,Founded in 1990 and headquartered in California, USA,It owns Boyd Autobody & Glas,Gerber Collision & Glass andOther accident car maintenance chain.about4,170 employees,the year of 2016The annual output value is578.3 million dollars,haveMore than 400Direct sellingStore.

Its latest acquisition list is:Assured Automotive, Craftmaster Auto Body and Champ’s Holding Company, LLC.

Gerber, who was famous then, is now.A subsidiary of Boyd group,Founded in 1937, headquartered in Illinois, USA, aboutThere are 498 employees,the year of 2016The annual output value is50 million dollars.

Its latest acquisition list is: Faith Autobody Repair Centers..

2. Service King,One of the four giants of the American accident car maintenance chain,Founded in 1976, headquartered in Texas, USA, with about 4,686 employees,the year of 2016Annual output valuefor549 million dollars, with more than 300 direct stores.

Its latest acquisition list includes: First Impressions Collision, Inc., The Body Shop Collision Center and Auto World Paint and Body.

In addition, there were rumors in the first half of this year.Service KingWill soon be acquired, I wonder if it is true.

3. ABRA,One of the four giants of the American accident car maintenance chain,Founded in 1984, headquartered in Minnesota, USA, with about 613 employees,the year of 2016Annual output valuefor100 million dollars, with more than 300 stores, direct sales+joining.

Its latest acquisition list includes: Lehman’s Garage, MGM Collision South, Inc. and Keenan Auto Body..

4. Caliber Collision, one of the four giants of the American accident car maintenance chain,Founded in 1997, headquartered in.United States of AmericaTexas,about6,444 employees, 2016The annual output value is89 million dollars, with more than 500 direct stores.

CalibeR Collision’sThe latest round of financing was in 2013.Raised $60 million, and the main investor was Penfund.

thatThe latest acquisition list includesCollision care auto body centers Inc., Craigs Collision Ctr and Automotive Collision Tech.

5. MAACO,Founded in 1972,A subsidiary of Driven Brands,Headquartered in North Carolina, USA,Franchise mode. general headquartersaboutThere are 65 employees,the year of 2016Annual output valueIt is $91 million and has more than 500 franchise stores.

Its latest acquisition list is: Spray Glo Auto Refining & Body Repair and 1-Day Paint & Body Centers, Inc.

6. CARSTAR,Founded in 1989, a subsidiary of Driven Brands, headquartered in Kansas, USA,Franchise mode. general headquartersabout306 employees,the year of 2016Annual output value23.2 million US dollars, with more than 500 franchise stores in the United States and Canada.

7. Fix Auto,Founded in 1997, headquartered in Blainville, Canada, it began to implement franchise mode (joining) in the United States in 2011. The number of stores is unknown, and the annual output value is unknown.

Its latest acquisition list is:Novus Glass, Speedy Glass and Speedy Corporation.

8. Joe Hudson,Founded in 1989, it is a family business with 56 direct stores, with unknown number of employees and annual output value.

9. Cooks Collision, Founded in 1979, headquartered in California, 39Direct sellingShop,The number of employees is unknown and the annual output value is unknown.

10. Classic Collision,Founded in 1983, currently19Direct sellingStore, located in Atlanta, family business,The number of employees is unknown and the annual output value is unknown.

2. The latest development of accident car maintenance chain in the United States

Last week, Vincent Romans, CEO of Roman Consulting Company, expressed his latest views on the accident car maintenance industry in the United States at the seminar on the development of accident car maintenance chain in Chicago Auto Show.

1. The market in the next five yearspredict

Vincent predicts that before 2021, the market share of the above-mentioned four giants, such as Boyd Group, will continue to grow, covering nearly 45% of the American accident car repair market, equivalent to a share of $16.7 billion (he estimates that the share of the entire accident car market segment is about $37.6 billion).

There are also 55% shares belonging to those small chain stores and single stores.

Vincent said: "We are now at another stage of the industry.Industry consolidation continues, but the speed has obviously slowed down. The Big Four are in no hurry to buy small chains at this stage.Instead, we are considering purchasing strategic clusters. "

"The market is currently in a temporary equilibrium state," Vincent said. "However, in the next two or three years, we will have another large-scale market contraction."

"At present, all kinds oftechnologyInnovation is playing a driving role, "Vincent said.

Diversified transformation in the industry will become the norm, which will lead to various simple and complex partnerships, alliances and market segments will be integrated.

2. Market conditions affecting the industry

At the meeting, Vincent cited various market conditions that affected the industry: stores increased DRP;; Advanced driver assistance system and automatic driving technology; Remote information processing; Supply chain integration;Alternative assessment model of margin pressure;predictive parsing;Photo evaluation;Main engine factory; The speed of technical iteration;Population, urbanization and changing lifestyles, etc.

3. Private equity players also join in the fun.

Private equity funds have also entered the PBE supply chain.VincentIt is mentioned that PNC RiverArch Capital acquired Painter’s Supply, 21 of which are located in Michigan, Ohio and Indiana. Driven Brands cooperated with many private equity groups to establish a wider MSO (multi-store operation, which means chain operation) group franchise network in its Maaco and CARSTAR.

If they come together, it may not have that great influence, but together, they can be very powerful.VincentSay.

The above is a brief introduction to the American accident car maintenance market at this stage.

The ancients really pay attention to the New Year! From New Year’s Eve to the seventh day, blessings and taboos in traditional customs.

The year 2008 is a transitional ceremony of time renewal.

Say goodbye to the old year and enter the new year, and the time for a new cycle of four seasons will be regained, and human life will also enter a new journey. As the saying goes in China, "Nian" is called "Nian Guan", which inevitably reveals the meaning that it is not such an easy time threshold to pass the Chinese New Year.

China is rich in old customs, and there are also many taboos, which need people to treat and practice respectfully. Old people will say, "Chinese New Year is done day by day". The following "Chinese New Year’s Guide" is to take you through the Chinese New Year and teach you how to make the "Year" go by day.

New Year’s Eve: Say goodbye to the old, get rid of the special, and keep the lights on.

New year’s eve dinner The original hand-drawn painting is from the National Festival Handbook, Shanghai Museum (ed.), published by East China Normal University Press in April 2016.

The "year" of the ancients is more like a time pass that needs to be handled carefully than our current "year". According to Lu’s Spring and Autumn Annals and Ji Dong Ji, during the Zhou and Qin Dynasties, people used drums to drive away "ghosts of epidemic diseases" on the day before the New Year to ensure the safety and health of the next year, which was called "eviction", so the evening (evening) of this day was called "New Year’s Eve". The earliest mention of the name "New Year’s Eve" is the "Notes on Local Customs" written by Zhou Chu in the Western Jin Dynasty, in which it is said: "Late years are related to feedback, which is called feedback. Wine and food are invited for another year. On New Year’s Eve, Da Dan didn’t sleep, which was called keeping the year. " Therefore, the so-called "New Year’s Eve", the old year will be removed this evening, and the new year will be replaced tomorrow. Its core words are "farewell to the old" and "removing the special". Su (su), that is, ghosts and demons.

Posting blessings, couplets and New Year pictures. The source of original hand-drawn drawings is the same as above.

During the day of New Year’s Eve, we will start to do the work of "removing the old and creating the new": we should go to the house to clean up the family; Adults and children bathe in turn, which is called "washing the old"; There are also "changing door gods, hanging clocks, nailing peach symbols and sticking spring cards", which means that door couplets, New Year pictures, blessings and the like must be replaced with new ones; If there are patients at home, the leftover dregs need to be thrown out, which is called "losing all diseases".

In the evening, when everyone sits together to have a New Year’s Eve dinner, it pays more attention to auspicious meaning. The essential food for northerners is jiaozi, which means "making friends at a younger age" when the new year and the old year alternate. Southerners eat spring rolls, rice cakes and the like, and the meaning of rice cakes is "high every year". There are also some auspicious foods, such as "fish with more than one year", "Nostoc flagelliforme" and water chestnut, which are also popular among people in Jiangsu and Zhejiang provinces because they look like ingots.

Step on the age. Original hand drawingThe source is the same as above.

After the New Year’s Eve dinner, "Shounian" is not just sitting around, but also some interesting activities for recreation. For example, the popular "stepping on the old" in the northern region is to sprinkle sesame stalks on walking places such as courtyards, so that children can crush them and crack them, and the ghosts around them will be scared away. "Stepping on the old age" is actually "stepping on the precious". Similarly, the lucky money is actually "precious". In the era of using copper coins, lucky money should be threaded with brown rope, braided into a dragon shape and placed at the foot of a child’s bed.

On New Year’s Eve, one thing needs to be noted: the lights of vigil should stay on all night. As the folk saying goes, "Thirty fires, fifteen lights", it is the best way to drive away evil spirits with light!

From the first day to the fourth day: welcome the new year and celebrate the New Year, and keep taboos.

On New Year’s Day, we should get up early to welcome the new year. Because we have to set off firecrackers, go out to meet XiShen, and there are good men and women who want to go to the temple to burn incense at the age of four.

When the cock crows, firecrackers are set off first, and its intention, according to the "Record of the Age of Jingchu", is "to make the mountain ashamed of evil spirits". And "welcoming XiShen" means walking and worshipping Kyrgyzstan as mentioned in the almanac, and asking XiShen to bless himself at the age of one. In Shanghai, it’s also called "Happy God’s Prescription".

Happy new year. The source of original hand-drawn drawings is the same as above.

"Happy New Year" is an important theme at the beginning of the year. There is an order for New Year greetings. As far as folk families are concerned, the first is to worship the gods and ancestors, the second is to worship the elders and elders, and then the members of the family worship each other.

There are two points worth noting about New Year greetings. First of all, the traditional custom is to pay New Year greetings only at home on the first day, and not to go out to visit relatives and friends until the second day. Secondly, don’t make a mistake in the "bowing hand" ceremony in New Year’s greetings-China culture respects the left and takes the left as the yang, so when bowing, you need to make a fist with your right hand, palm your left hand, or wrap or cover your right fist. This bowing gesture is "Jibai"; On the contrary, it is fierce worship and can be used for mourning.

The first day is the first day of the new year, and people all hope that everything will go smoothly at the beginning of the year, which is a good sign. Therefore, there are many taboos on this day, and they often can’t be broken until the fifth day:

1. Avoid saying unlucky things. In case children spill the beans, many families put up a red note saying "Children’s words are unbridled" to crack it.

2. Avoid sweeping the floor, splashing water outside and taking out the garbage, because it is easy to sweep away the wealth at home. If the ground is dirty and must be swept, then sweep it inward, symbolizing that the treasure enters the door. After sweeping, put it in the trash can and keep it.

3. Avoid bathing, shampooing and washing clothes, so as not to wash away the good fortune of the year.

4, avoid breaking the cups and bowls. If you accidentally break the dishes, quickly say "peace".

5, when eating, avoid using boiled water to soak rice, and avoid using soup to soak rice, otherwise you will be lucky in the New Year.

"Mice Marry" paper-cut.

As the saying goes, "the first day is early, the second day is early, and the third day is full." The Chinese New Year is very busy and tiring these days. On the third night, people need to give themselves a reason to go to bed early, that is, "a mouse marries a woman". Everyone turns off the lights and goes to sleep early, so as not to disturb the happy event of mice marrying women. People often sprinkle some rice grains or cake crumbs on the corner of the house as a wedding gift to show that they can share a year’s harvest with mice. Therefore, New Year pictures and paper-cuts of "Mice Marry Women" and "Mice Marry" are also regarded as mascots among the people, and can be posted on walls or windows during the New Year.

The fifth day and the sixth day: break the ban, send the poor and welcome the god of wealth.

Set off firecrackers to welcome the god of wealth. The source of original hand-drawn drawings is the same as above.

In Jiangsu and Zhejiang provinces, there is a very important god to meet on the fifth day of the Lunar New Year, that is, the God of Wealth, also known as the "Road Head God" or "Five Road God". "Five roads", as the name implies, are rich in things, north and south. Everyone loves the god of wealth, and it is very popular. The sooner you receive it, the more effective it will be. Therefore, it is said that the fifth day is the day to meet the gods, but people want to "grab the road" early on the fourth night.

Gu Lu, a scholar in Qing Dynasty, described this great event in Wu in Qing Jia Lu: "The fifth day of the first month is the birthday of Lu Tou Shen. Golden gongs and firecrackers, which are sacrificed to the past, are eager to make a profit, and they must get up early to meet them, which is called the end of the road. " After receiving God, everyone still has to eat road wine, often until dawn.

Shanghai welcomes the god of wealth with carp, also known as "silver ingot fish", and fishmongers call it "sending silver ingot fish". These customs, Yuan Zuzhi’s "Poems of Bamboo Branches on the Sea" wrote: "Yuanbao shouted to send it in, and Caidong made a fortune again tonight; Carps don’t jump into the dragon gate, but also offer gold and silver to Taiwan. “

There are also secular reasons for welcoming the god of wealth on the fourth night and the early morning of the fifth day. In the old days, Chinese New Year shops closed their doors on New Year’s Eve and reopened on the fifth day of the first month. This is connected with the god of wealth, so that we can "open the door to see wealth" and "make rich resources" smoothly and profitably.

Go poor. The source of original hand-drawn drawings is the same as above.

On the fifth day of the fifth day, the more popular customs in northern China are "breaking the fifth day" and "sending the poor", which belong to taboo and blessing activities. "Breaking Five", that is, those taboos in the past few days, can be lifted after this day. And "sending the poor" is also related to this. The garbage that was not dumped in order to accumulate wealth before was just cleaned up on this day, and this attention became "sending the poor".

There are many ways to send the poor. It’s simply that firecrackers are ringing in the morning and the garbage is dumped out of the door. The more complicated thing is to cut a villain ("poor daughter-in-law") with paper, and even let her carry a paper bag filled with garbage outside the door and burn it. In Han Yu’s "Send the Poor", it is mentioned that it is necessary to "make a car out of willows, bind grass as a boat, carry grain, tie the ox under the yoke, and sail on the pole" for the poor. That is to say, when sending the poor, it is necessary to prepare vehicles, boats and dry food for the poor and send them away quickly.

The ceremony of "seeing the poor off" can also be held on the sixth day of the sixth day, even on the dark day of the first month. Han Yu’s "sending the poor" is in the dark days. Dark day, that is, the last day of each month in the lunar calendar, and the dark day in the first month of the year, that is, "the first dark day", is particularly valued.

The seventh day: "People’s Day", Dai Sheng, seven dishes soup.

The seventh day of the Lunar New Year is "People’s Day", and the previous six days are "Livestock Day". The Chronicle of Jingchu’s Age quoted Dong Xun’s Asking about Etiquette and Custom as saying: "On the first day of the first month, you will be a chicken, on the second day, a dog, on the third day, a pig, on the fourth day, a sheep, on the fifth day, a cow, on the sixth day, a horse, and on the seventh day, you will be a human being. Zhengdan painted a chicken on the door and posted it on the account on the seventh day. " Therefore, "Today, no chickens, no dogs, no pigs, no sheep, no cattle, no horses, no execution, and no execution."

Dai Ren wins. The source of original hand-drawn drawings is the same as above.

The important custom of "People’s Day" on the seventh day of the seventh day is "wearing people to win", so "People’s Day" is also called "People’s Victory Festival". Human victory is a kind of ornament. Women cut the ribbon for flowers, or cut the ribbon for people, or carve gold foil for people, stick it on screens, bed curtains, or wear it in their hair to pray for blessings and avoid disasters. "Chronicle of Jingchu’s Years Old" explains the meaning of "Dai Ren Sheng", which means that "those who cut the ribbon will enter the New Year, and the description will be changed from the new one", that is, the New Year will take on a new look. This custom has been popular since the Wei and Jin Dynasties, and it has been paid more and more attention since the Tang Dynasty. On every "People’s Day", the emperor gave the ministers colorful decorations to win, and gave them a big banquet to compose poems for the holidays, while the people cut the ribbon and gave them to each other. In Li Yuan’s poem "Cut the Ribbon" in the Tang Dynasty, there is a poem "A gift of money is given to a blind date, and a silver hairpin is decorated with a phoenix; Two birds in a row, two bridge people ".

The festive food of "People’s Day" is "seven-dish soup", which is a soup made by chopping seven kinds of vegetables and cooking them together. If you eat them, you can pray for the New Year and prevent all diseases. This food custom has declined in modern times. But interestingly, Japan will eat "seven grass porridge" on January 7th. This custom has been popular among Japanese people since the Edo period. In Japanese haiku, there is praise for seven grass porridge "The porridge tastes good and the intestines are longing for the Soviet Union". In fact, this custom was introduced from the ancient and popular seven dishes soup in China.

The 3000-point A-share defense war has been restarted. What’s the difference this time?

  On April 25th, the Shanghai Composite Index closed down by 5.13%, and fell below the 3,000-point mark again after 22 months to 2,928.51 points, bringing a general decline covering more than 96% of the stocks.

  Why did A shares plummet? Many institutions believe that it is the result of the failure to effectively hedge external risks and internal benefits under multi-factor resonance. A shares will be repaired, but it will take some time.

  Overseas markets are surging — — James Bullard, a well-known hawkish official of the Federal Reserve, refused to rule out the possibility of raising interest rates by 75 basis points (BP) in early May. According to CME’s FedWatch tool, the probability that traders will raise interest rates by 75BP at least once in the next two meetings is over 95%. In the first quarter, US stock earnings reached a climax this week. Five-sevenths of the companies with the largest market capitalization in the United States will release earnings reports, mainly technology giants, which will naturally become the focus. The agency expects that the overall profit growth rate will be the lowest in the past five quarters. US stocks plunged last Friday, with the Dow falling by 1,000 points.

  At the same time, on the 25th, the offshore RMB broke through the 6.6 mark against the US dollar, with the depreciation rate exceeding 2,400 points since the beginning of the year. As of 16:30, USD/onshore RMB reported 6.5544, down 669 points from the previous closing price, the lowest since April 2 last year; As of 18:49, USD/offshore RMB reported 6.6041. Then, the central bank announced that it would reduce the foreign exchange reserve ratio, and the offshore RMB rebounded by 300 points in the short term to near 6.5738.

  The Shanghai Composite Index fell below 3,000, and the hot stocks plunged.

  Affected by weakening market sentiment, the Shanghai Composite Index fell below 3,000 points on the 25th. After the resumption of the market performance during several RMB devaluations since 2015, the overall market was dominated by decline, with relatively dominant value and finance in style, and its growth was greatly affected.

  Since April, the major indexes have continued to fall by shocks. Last week, the Shanghai Composite Index and the Shanghai and Shenzhen 300 Index fell by 3.87% and 4.19% respectively, while the Growth Enterprise Market fell by 6.66%. At the industry level, textile clothing benefited from the depreciation of RMB exchange rate, rising by 4.93%, while the decline of electricity and public utilities, food, household appliances and transportation was relatively small; Real estate, steel, nonferrous metals, coal, medicine and building materials were among the top losers.

  On the 25th, the hot stocks fell sharply, including the Internet, basic metals, education, chemical raw materials, leisure products, aerospace and military industries, which fell by more than 8%, while the popular concept sectors including photoresist, sodium ion batteries, industrial metals, semiconductor equipment, aluminum industry and online education fell by more than 9%. Even the COVID-19 antigen testing, large-scale infrastructure, generic drugs and other sectors, which once became the concept sector of A-shares rising against the trend, fell by more than 3.5% on that day. Short positions favored by foreign investors, such as China Merchants Bank, New China Life Insurance, Wuliangye, Contemporary Amperex Technology Co., Limited and Longji, all fell more than 5%.

  At present, it is in the intensive release period of a quarterly report, and some manufacturing growth leaders have slowed down their performance growth or failed to meet expectations, which may lead to a decline in stock prices and suppress the overall performance of A shares. For example, Hengrui Pharma, the leading pharmaceutical stock, plunged at the opening, and fell sharply in intraday trading, closing at 29.7 yuan/share, hitting a three-year low. Another example is Longji shares, which fell by 8.69% to 56.61 yuan/share on the 25th after many days’ decline, and the market value of one day evaporated by 29.176 billion yuan.

  According to the reporter, on the 25th, the total market value of 4,799 listed companies in the city evaporated to 4.58 trillion yuan. Since the beginning of this year, the average decline of the above 255 listed companies is as high as 19%.

  A number of institutions told reporters that the sharp drop in A shares was the result of the failure to effectively hedge external risks and internal benefits. "It is precisely because the weak rebound expectation is broken that the market is moving in an extreme direction." Yan Kaiwen, chief strategist of Huaxin Securities, said.

  Li Meicen, chief strategist of Caitong Securities, also put forward the theory of "dislocation". "At present, the external economy is at a high level, China’s economy is at a low level, and the economic fundamentals are at the biggest dislocation stage. The external is receiving, we are releasing, the exchange rate expectation pressure is high, the stock market stock game, and the liquidity is more pessimistic. " The two-way dislocation inside and outside, coupled with the repeated epidemic, the constant thunder in the first quarter, the recovery of supply chain and the recovery of consumption have not improved, so the Shanghai Composite Index is close to the previous low again, and investors are more pessimistic.

  How does the exchange rate affect A shares?

  Since 2010, there have been eight obvious cycles of RMB depreciation, in which A shares rose four times and fell four times. Specifically, after the "811 Exchange Reform" in 2015, the RMB exchange rate experienced four obvious devaluations. The first two times were the narrowing of the spread between China and the United States caused by the tightening of the Federal Reserve, and the macroeconomic kinetic energy was "strong in the United States and weak in the middle". Corresponding to the performance of the stock market, both the broader market and the industry closed down.

  The probability that RMB depreciation is positively related to the decline of A shares is 50%. There is no direct causal relationship between the stock market and the exchange rate, but the exchange rate is usually a reflection of the basic market. At the same time, with the increase of the participation of overseas investors in A shares, the impact of foreign capital flows on A shares is increasing. Therefore, Yan Kaiwen believes that the rapid depreciation of the RMB exchange rate since 2018 has a dominant impact on A shares, and at the same time, such impact will be amplified in the weak stage of A shares.

  "The market expects more steady growth policies and measures to stabilize the economy and market expectations, thus boosting investor sentiment. The current market uncertainty is more prominent. Seeing more and doing less is still a more suitable investment strategy for ordinary investors. The opportunities after the direction is determined are easier to grasp. " Yuan Huaming, general manager of Huahui Chuangfu Investment, said.

  Li Meicen said that this week is a crucial week, and the uncertainty that investors pay attention to is becoming clear. On the one hand, with the improvement of the domestic epidemic situation and the recovery of the supply chain, the domestic economy will run upwards, and corporate profits are expected to gradually stabilize and rebound. On the other hand, in the case of less incremental funds, the market showed a situation of stock game in the first half of the year. If the Federal Reserve did not make a more "eagle" statement later, with the comparative advantage of China’s economy highlighted, overseas funds may flow back to emerging markets, especially the China market with significant allocation value in the medium and long term.

  As for the follow-up trend of the exchange rate, the most critical export data has not changed much, and there is no sign that the capital outflow will continue to accelerate significantly. The weakening of the emotional side is the main reason. "At present, offshore hedge funds have begun to make more dollars against the RMB. Although there are many uncertainties and even some institutions are at a loss, it seems more mainstream to make more dollars in the short term." A foreign bank strategist told CBN.

  Another foreign trader told reporters: "Let the bullets fly for a while." In fact, from October last year to the beginning of last week, the RMB kept in the range of 6.3, and the fluctuation was unusually low, and there was no trace of offshore short positions. At that time, China’s exports continued to be strong, and domestic US dollar deposits reached 1.1 trillion US dollars, which also made enterprises unwilling to buy US dollars. Moreover, before that, the RMB yield was still higher than the US dollar, and shorting the RMB required a spread. However, at present, the situation has reversed, and even if the prospects are highly uncertain, offshore institutions have begun to test the water and short.

  The spread between China and the United States has been upside down for nearly two weeks. As of the close of 25th, the yield of China ten-year treasury bonds 220003(22 interest-bearing treasury bonds 03) was 2.8325%. The yield of US 10-year Treasury bonds was reported at 2.828% on Monday, down from the high of 3% hit last week, but it is still expected to rise in the future.

  However, around 19: 20 on the 25th, the central bank announced that it would reduce the foreign exchange deposit reserve ratio of financial institutions by 1 percentage point, that is, from the current 9% to 8%. This means that the market dollar liquidity will increase, releasing the signal of the central bank to stabilize the RMB.

  "This is more symbolic, with a range of only 1%, but it also shows that the central bank is happy to see the two-way fluctuation of the RMB, but it does not want to see the exchange rate depreciate sharply too quickly." The above traders told reporters that the maximum release of US dollar liquidity was US$ 10 billion, which was still relatively small compared with the daily average US$/RMB trading volume in the onshore market of US$ 39 billion.

  In fact, before this RRR cut, the central bank "increased the RRR" twice last year, each time by 2%, and the foreign exchange reserve ratio rose from 5% before June last year to 9%. At that time, the central bank intended to slow down the appreciation of the RMB. In 2021, due to strong exports and accelerated inflow of foreign capital, the RMB once rose to around 6.3.

  Be wary of the Fed raising interest rates by 75BP in May.

  In the next two weeks, the financial reports of overseas central banks and US stocks will be the focus of the market, which will also have an impact on the RMB and China stock market.

  US stocks closed down sharply last Friday. The Dow hit its biggest one-day drop so far this year, closing down 981.36 points, or 2.82%.

  The increasingly hawkish stance of the Fed is the main reason. Federal Reserve Chairman Powell said last week that "it is possible to raise interest rates by 50BP at the meeting in May", while Brad refused to rule out the possibility of raising interest rates by 75BP next month.

  "It is becoming increasingly clear that the Fed is accepting the view that it needs to raise interest rates extremely aggressively to control inflation. The Fed has never raised interest rates by 75BP at one time since 1994, but the hint of raising interest rates by 75BP seems not so bizarre to almost all of us now. In fact, according to CME’s FedWatch tool, traders now count the chances of raising interest rates by 75 basis points at least once in the next two meetings of the Fed to exceed 95%. " Matt Weller, head of global research at Jiasheng Group, told reporters.

  "In view of this, the volatility of all markets is likely to remain high for the rest of this year." He said. The core PCE report will be released this Friday, which is the most favored inflation indicator of the Fed, and it has been rising for five months. Judging from the early estimates, the core PCE may remain unchanged at 5.4% this time. If the reading is unexpectedly higher than expected, it may open the door to raising interest rates by 75BP as soon as next Thursday, which may be highly profitable for the US dollar and bad for the US stock market. As of 17: 50 Beijing time on the 25th, the US dollar index stood at 101.573.