"Build a 100-billion-level AI (artificial intelligence) large-scale model technology system, create financial image character recognition products, and realize batch credit granting and digitalization of the whole process after lending …" In the 2023 annual report published by listed banks, in addition to the business performance indicators that have attracted much attention from the market, the financial technology investment of many banks increased year-on-year, the digital transformation and upgrading progressed steadily, and the exploration of large-scale model technology research and development and application scenarios increased significantly, laying a solid foundation for writing a big article on digital finance.

　　Digital transformation has achieved initial results.

　　The disclosed annual reports of listed banks in 2023 show that more than half of the banks have achieved a year-on-year increase in financial technology investment. From the perspective of the "big four banks", the investment amounts of Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank in 2023 reached 27.246 billion yuan, 24.85 billion yuan, 22.397 billion yuan and 25.024 billion yuan respectively, up by 3.9%, 7.06%, 3.97% and 7.45% year-on-year.

　　In terms of joint-stock banks, in 2023, two banks invested more than 10 billion yuan in financial technology. China Merchants Bank invested 14.126 billion yuan in science and technology, although it decreased slightly by 0.3% year-on-year, but it is still the institution with the largest amount of investment among joint-stock banks. CITIC Bank’s investment in financial technology reached 12.153 billion yuan, up 38.91% year-on-year, and it was the listed bank with the largest year-on-year growth.

　　"As a key force to promote the digital transformation of banks, financial technology is in an important strategic position in most listed banks. However, at present, the development of digital technology itself and its application in the financial industry require more research and exploration, and it is necessary to increase investment in financial technology. " Lou Feipeng, a researcher at China Postal Savings Bank, said that it is of positive significance for the banking industry to accelerate the digital transformation by increasing investment, so as to enhance its own market competitiveness and service level.

　　With the increasing investment in financial technology, many banks have made remarkable achievements in the digitalization process in 2023, especially in the key field of scene construction.

　　According to the annual report of ICBC, around the goal of "Digital ICBC", we will speed up the construction of a digital financial service system that is compatible with the modern economic system, and innovate a new model of digital financial development with the main line of building a platform, improving capabilities, expanding scenarios and building ecology. In 2023, digital business accounted for more than 99%. Relying on corporate online banking and mobile banking, we will build a digital financial service platform that integrates e-cloud, and launch services such as specialized and special new service areas and Pratt & Whitney areas for exclusive customers to provide customers with ecological services that cover the integration of financial and business scenarios.

　　China Merchants Bank increased its investment in science and technology, comprehensively promoted digital remodeling around online, data-based, intelligent, platform-based, ecological and so on, gradually established an ecological circle of financial services, and explored the application of artificial intelligence scenarios. Intelligent applications have replaced more than 17,000 full-time manpower in intelligent customer service, process intelligence, quality inspection, conch RPA+ (robot process automation) and other scenarios.

　　Many banks mentioned in their annual reports that they should improve their technology and finance system by optimizing their organizational structure. For example, Industrial Bank set up a digital operation department, actively explored new modes of digital operation, and strived to get through the "last mile" from digitalization to productivity; China Postal Savings Bank optimized and adjusted the organizational structure of the information technology section of the head office, and renamed the Information Technology Management Committee under the senior management as the Financial Technology Committee; Reorganize the Information Technology Management Department and the Financial Technology Innovation Department into the Financial Technology Department; Rename the data center as an operational data center, promote the transformation of science and technology governance structure, and strengthen the overall leading role of information technology.

　　Accelerate the application of large model technology

　　In 2023, with the big model tsunami wave set off by ChatGPT sweeping the world, AI big model technology has become the focus of exploration and layout in many industries, and banking is no exception.

　　The reporter noted that six large state-owned banks and a number of joint-stock banks such as CITIC, China Merchants and Xingye disclosed the research and development and application of the big model field in the 2023 annual report. AI big model technology may become an "accelerator" for the digital transformation of financial institutions.

　　China Construction Bank mentioned in its annual report that it will continue to strengthen research on key core technologies. Independent research and development of artificial intelligence platform, and form a comparative advantage in the fields of computer vision and intelligent voice, and implement the "Ark Plan". The big data platform covers over 30,000 physical nodes, and the foundation of data governance is further consolidated. The annual report of Agricultural Bank of China revealed that relying on the artificial intelligence innovation laboratory, the functions of pre-research and incubation of large-scale model technology, online answer recommendation of customer service knowledge base and auxiliary search of knowledge base were accelerated.

　　CITIC Bank has built a CITIC big model platform with integrated software and hardware, completed the deployment of a 100 billion-level open source big model, and explored scenarios such as landing code generation and intelligent operation. China Merchants Bank seized the opportunity of certainty of the big language model to develop the construction and application of the big language model. On the one hand, we actively strengthen the construction of large models, introduce large models with 100 billion parameters, tune, train and adapt the scenes in the industry with our own corpus, follow up the development of open source large model technology, and develop large models with 100 billion parameters in professional scenes. On the other hand, explore the application of big model in retail, wholesale, middle and back office. At the same time, build a large model experience platform, access to a number of domestic mainstream large models.

　　In the view of Wu Dan, a researcher at China Banking Research Institute, at present, banks have increased their application and exploration of big model technology, and strengthening their customer service capabilities with financial technology empowerment is conducive to enhancing the core competitiveness and customer attraction of banking business. In the context of the current narrowing of net interest margin, it is also beneficial for banks to accelerate the pace of digital transformation and enhance their non-interest business capabilities such as smart investment and care, and to seize market share and enhance profit margins.

　　"The smart big model has strong data capture, text understanding and calculation and analysis capabilities, which can improve the existing service quality and efficiency of banking institutions on the basis of deeply tapping the potential value of big data." Wu Dan said that it is very important for the banking industry to accelerate the research, development and application of technologies in the field of big models, which is also the key link to do a good job in digital finance.

　　Broad space for development

　　In recent years, financial management departments have promoted the digitalization process of China’s financial industry as a whole, and taken various measures to encourage the innovation and application of financial technology to enhance the efficiency of financial services to the real economy. In January 2022, the People’s Bank of China issued the Financial Science and Technology Development Plan (2022-2025), which proposed to promote the digital transformation of finance with high quality and improve the modern financial system adapted to the development of digital economy.

　　On January 26th of the same year, the former General Office of China Banking and Insurance Regulatory Commission, China issued the Guiding Opinions on the Digital Transformation of Banking and Insurance Industry, proposing that by 2025, the digital transformation of banking and insurance industry will achieve remarkable results. Digital financial products and services have been widely popularized, financial innovation based on data assets and digital technology has been practiced in an orderly manner, the development ability of personalized, differentiated and customized products and services has been significantly enhanced, and the quality and efficiency of financial services have been significantly improved.

　　In the field of securities, in June, 2023, China Securities Industry Association issued the Three-year Improvement Plan for Network and Information Security of Securities Companies (2023-2025), encouraging qualified brokers to make full use of new technologies to actively promote the construction of a new generation of core systems and carry out the transformation and upgrading of the technical framework of core systems, and clearly stated that the average investment in information technology of brokers should not be less than 10% of the average net profit or 7% of the average operating income from 2023 to 2025.

　　Experts believe that under the background of the new round of scientific and technological revolution and the in-depth development of industrial transformation, deepening digital transformation is an inevitable choice for the financial industry to practice the innovation-driven development strategy. Under the continuous guidance of policies, financial institutions will continue to increase the exploration of digital applications represented by large-scale model technology.

　　The Report on the Application of Generative AI in Financial Industry in 2024 jointly released by Tsinghua University Institute of Economics and Management and Du Xiaoman shows that financial institutions can carry out more product innovation, provide more effective credit support, underwriting claims and market financing for the real industry, release huge financial data value, improve the financial service level of the real economy, and promote the innovative development of financial institutions themselves, and move towards the ranks of powerful financial institutions.

　　For the banking industry, Wu Dan suggested that the digital transformation of the banking industry should focus on intelligent, personalized, universal and other key directions. Using AI technology to accurately identify customer needs and provide flexible and diverse personalized services is conducive to improving customer experience and customer stickiness. Use financial technology to extend financial inclusiveness and provide more convenient financial services for small and micro enterprises at a lower cost.

　　"It is expected that the banking industry will make better use of data elements, improve the infrastructure of digital finance development, enrich the application of digital finance scenarios, and increase the exploration and practice of digital finance development security, so that digital finance can empower technology and finance, green finance, inclusive finance and pension finance to better meet economic and social development and people’s demand for high-quality financial services." Yan Feipeng said. (Economic Daily reporter Ma Chunyang)

　　On March 29, 2023, local time, Ukrainian soldiers stood in front of a tank in the Donetsk region. Vision china diagram

　　Senior US government officials revealed that confidential documents about NATO and the United States assisting Ukraine in preparing for war were leaked and appeared on social platforms this week. The Pentagon is investigating this.

　　According to a report by The New York Times on April 6, these leaked documents detailed a secret plan of the United States and NATO, which planned to help Ukraine prepare for the spring counterattack against Russian troops. The leaked documents appeared on social platforms such as Twitter and Telegram. Telegram is a social platform widely used in Russia.

　　The report quoted military analysts as saying that some parts of the leaked documents seem to have been revised, exaggerating the US estimate of the number of Ukrainian people killed in the conflict and reducing the estimate of the number of Russian people killed. Although there are traces of revision, the document still discloses information about weapons delivery, troop setting, strength, action plan and so on.

　　Officials of the US President Biden’s government tried to delete these leaked information from the Internet, but as of the evening of April 6, local time, it was still unsuccessful.

　　The New York Times said that the leaked documents did not provide a specific operational plan. Besides, these documents have been out of date for five weeks. However, these documents can provide analysis materials for military personnel.

　　According to Reuters’s report on April 7, Ukrainian government officials said that the leaked documents were "false intelligence actions" by the Russian side, aiming at "spreading doubts" about Ukraine’s counter-offensive plan.

　　Xinhua News Agency, Shenyang, August 7th Title: Building the "lifeline" of the people — — On-the-spot record of Liaoning’s fight against the rare torrential rain in history

　　Xinhua news agency reporter

　　When the sun shines on the earth again, people hit by torrential rain begin to clean the flooded courtyard, look at the flooded farmland and rebuild their new lives. On the severely damaged rural roads, the fleets, police cars and material supply vehicles of the pontoon bridge troops continue to advance to the key disaster areas … …

　　Since August, Chaoyang, Xiuyan in Anshan, Zhuanghe in Dalian, Yingkou and other places in Liaoning have been hit by torrential rains, and the rainfall in many places has exceeded the historical extreme. Faced with the huge waves, the party committees and governments at all levels in Liaoning Province, the officers and men of the armed police and the grassroots cadres and the masses have mobilized urgently and composed a generous and heroic song of the land of Liaoning.

　　Rainfall in many places exceeded the extreme value.

　　Affected by the remnants of Typhoon No.10, heavy rainfall occurred in Chaoyang, Huludao, Jinzhou and Fuxin in western Liaoning on the 2nd.

　　Late at night on the 2 nd. The building of Liaoning Flood Control and Drought Relief Command Center is brightly lit.

　　The responsible person of Liaoning provincial government led the members of the provincial flood control and drought relief headquarters to pay close attention to the rain and water conditions in various places. On the electronic big screen, satellite cloud pictures and precipitation statistics in various places are displayed in real time. Meteorologists analyze the trend of typhoon and rainfall on the spot. Through the communication system, the headquarters keeps in touch with the main leaders of the city’s defense finger in real time and dispatches on the spot.

　　The heavy rain came as scheduled, accompanied by a gust of 9, and some trees on the roadside were uprooted. According to the statistics of the meteorological department, from the evening of the 2nd to the afternoon of the 3rd, heavy rain fell in more than half of western Liaoning, and local heavy rain occurred. The single-day rainfall in Chaoyang City has exceeded the local historical extreme.

　　On the 3rd, the rainfall in western Liaoning basically ended. Typhoon Haitang has not yet receded, and typhoon Olu will affect Liaoning again. It is predicted that there will be heavy rain in Zhuanghe, Dalian, Xiuyan, Anshan and other places on the night of the 3rd, and local heavy rain will occur.

　　A flood is an order. That night, the Liaoning Provincial Defense Index dispatched and directed various places to urgently transfer people, and meteorological, land and other departments intensively issued the rainstorm and geological disaster warning … …

　　At 3 am on the 4th, the Chamber of Commerce of Liaoning Anti-Finger Association was in an emergency. On the electronic big screen, the rainfall histograms of the 25 towns with the largest rainfall in the province have all turned red. Since then, the rainfall has continued to climb in a straight line, and the rainfall in parts of Xiuyan, Zhuanghe and Gaizhou has reached the level of torrential rain.

　　According to the monitoring of the meteorological department, the maximum daily precipitation in Xiuyan is 317.3 mm, which breaks through the historical extreme; Zhuanghe has the largest rainfall since meteorological records were recorded in 1956.

　　Put people’s life safety first.

　　At 6 o’clock on the 4th, the main leaders of Liaoning Provincial Party Committee and Provincial Government rushed to the Provincial Defense Command Center to hold a meeting on flood control and flood fighting. At the meeting, the person in charge of Anshan Municipal Committee asked for support: the torrential rain caused the road power of eight villages in Xiuyan to be interrupted, and three of them formed islands. The situation was grim, and troops and helicopters were requested for support!

　　"People’s life safety must be put in the first place!" After learning about this situation, the main leaders of the Liaoning Provincial Party Committee and the provincial government immediately led a team to Xiuyan to guide flood control and disaster relief. On the morning of the same day, six helicopters and pontoon troops went to the hardest hit area to rescue the people trapped by the flood and get through the isolated island disaster relief channel.

　　Luquanzi Village in longtan town, a remote Manchu Autonomous County in Xiuyan, was once disconnected from the outside world for 12 hours in this catastrophic flood, and the safety of more than 3,200 people in 20 residential groups in the village touched the hearts of all walks of life. "Almost all the seven bridges that went out in the village were broken." Hu Yingquan, the village party secretary, recalled afterwards.

　　What Hu Yingquan didn’t expect was that after 17: 00 pm on the 4 th, public security, fire fighting and various rescue organizations successively entered the village.

　　Wang Dayong, chief of the training section of Xiuyan County Public Security Fire Brigade, said that at 15: 30 pm on the 4th, 50 fire officers and soldiers from Anshan and Panjin came to support them, carrying rescue equipment, and headed for Lujuanzi Village on foot. The road was interrupted and we had to walk through the cornfields. Fire officers and soldiers are connected by thick ropes in groups of 5, and move forward. "The mud is so deep that I can hardly pull my feet out, and I have encountered several rolling stones." Wang Dayong said that after more than five hours of trekking, the fire officers and soldiers came to the village branch of Luquanzi, which was already in the evening. After arriving at the village branch, they learned that the vast majority of villagers were safe, and there were still two more remote villagers’ groups that were not checked. The rescue team checked these two villagers’ groups overnight to ensure safety, and then withdrew from Lujuanzi Village the next day.

　　Before the rain, Dalian zhuanghe city conducted a thorough investigation on reservoirs, offshore operations, key areas prone to mountain torrents, mudslides and geological disasters, dangerous sections of rivers and various water conservancy projects, closed nine tourist attractions in the city, arranged special personnel to be responsible for the elderly, the sick, the five-guarantee households and the low-guarantee households, and strictly guarded the weak links such as seawalls and moisture-proof dikes to ensure the safety of people’s lives and property.

　　If the flood does not recede, the cadres will not withdraw.

　　According to preliminary statistics, the torrential rain affected 358,000 people in Xiuyan County and 25,000 people in zhuanghe city. The province has transferred and resettled more than 150,000 people.

　　It is better to believe in it than to believe in it; It’s better to believe it’s big than it’s small. This is the principle repeatedly emphasized by Liaoning before this torrential rain. Governments at all levels have built the "lifeline" of the people with responsibility and responsibility.

　　"2-3 days before the rainstorm, all the notices on TV, SMS and WeChat were about to rain heavily. Until the rainstorm, the big speakers in the village kept broadcasting to let us transfer." Wang Shaomin, a 40-year-old villager, said, "On the evening of the 3rd, the village went to the village branch to take shelter from the rain." He recalled that he simply cleaned up and went to the village branch to take shelter.

　　In the early morning of the 4 th, the pouring rain kept falling. "God seems to have missed it." Then, he heard the rumble of mountain torrents. "Fortunately, I came out from home early." Wang Minmin said with emotion.

　　According to the unified arrangements of the Liaoning Provincial Party Committee and the provincial government, before the flood, all cadres at the county level sank to the front line to guide flood fighting and disaster relief. Zhou Hui, secretary of the Disciplinary Committee of Xiuyan County, said: "We demand that all cadres who go to the grassroots level will not retreat from the flood, and the cadres will not withdraw. At present, we must resolutely protect the lives of the people." (Reporter Feng Lei, Sun Renbin, Zou Mingzhong, Zhang Yifei, Cai Yongjun)

The metal middle frame with exquisite glass backboard is not only high-end atmosphere, but also particularly textured, which is full of technology in your hand. This color scheme is really amazing. It can show rich and delicate color changes under different light, just like a work of art, which fully meets my high requirements for the face value of mobile phones. The body design of the mobile phone fits the palm of your hand very well, and the grip is great. You won’t feel tired after using it for a long time. The details are handled in place, and the rounded transition at the edge makes the whole more comfortable.

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.

　　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.

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.

　　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.

Recently, it unveiled its second model, Dongfeng Yipai eπ 008, which is positioned as a "family intelligent large SUV". It has a length of 5002mm, a wheelbase of 3025mm, and a 6-seat home layout of "2 + 2 + 2". The excellent body size makes Dongfeng Yipai eπ 008 have very strong space attributes, making it a veritable "536" model. In this regard, we have also had a test drive experience of the vehicle and share with you some of the experience after the test drive.

In the actual test drive, the eπ 008 has three modes: pure electric priority, fuel priority, and mixed gasoline and electricity. The power response is still very positive, and it is more suitable for household use. It is recommended to drive pure electric priority in daily cities. While saving energy and being cost-effective, you can also enjoy the light driving experience brought by the tram.

When passing through the fine and bumpy road section, the filter of Dongfeng Yipai Eπ 008 is relatively in place, and it is generally comfortable. In steering, although driving such a big guy, the steering is still very flexible and not clumsy.

The NVH performance of the new car is also good. The eπ 008 uses 265/45 R21 size Continental silent tires. When driving on the gravel road at a speed of 90km/h, the noise in the car is about 75.8dB. When driving on high-speed sections, the wind noise control is good, and the wind sound is hardly audible. However, the tire noise of the vehicle is slightly obvious, which may be caused by the large tire width.

After saying dynamic, look at static

From the appearance, the EPi 008 adopts a closed front face design, which is also one of the popular features of the moment. The entire front part looks very sturdy, giving a very heavy feeling. The through light strip divides the front face into two, and there is a relatively complex built-in light source inside, which can support a variety of lights when lit, especially at night to create a very cool atmosphere.

On the side of the body, it is worth mentioning that there is also a small window between the C-pillar and the D-pillar, which can make the third-row passengers not feel depressed. In addition, the D-pillar is also equipped with a digital rhythm charging indicator light, which will produce different light changes when the vehicle is charging. In terms of body size, the length, width and height of the Dongfeng Yipai e π 008 are 5002mm × 1972mm × 1732mm, the wheelbase is 3025mm, and the positioning of the medium and large SUV is 0.268Cd.

At the rear of the car, the eπ 008 also uses a through-type taillight, and the internal lattice light source shape echoes the front of the car, which is highly recognizable after lighting.

Entering the car, the interior of the eπ 008 continues the interior design style, which is as windy as the appearance. Although the shape is simple, the texture is online. The six-seat layout of 2 + 2 + 2 will be more suitable for large families and can take care of everyone’s comfort.

Intelligent configuration,E π 008The intelligent cockpit is composed of an 8.8-inch instrument and a 15.6-inch central control screen. The car is the mainstream chip, and the impression I get from using it is that the screen is large, the car responds quickly, and the mainstream functions can be found quickly. The voice system responds quickly, and it can be 100% voice-controlled on the car-machine interface. The overall experience does not differ much from other models.

In terms of space, adjust the second row of seats to the final state. After riding with a height of 170cm, there is still room for more than 3 punches in the legs. After adjusting the second row to the remaining 2 punches, the third row of legroom also has 3 fingers of wealth. When 6 people travel at the same time, the third row is more suitable for passengers with a height of less than 175cm.Among them, you can also choose seats, leg supports, small table boards, headrests, and sunshades on the right side, which are all equipped with rich functions.

Write to the end

As a medium and large SUV, the Eπ 008 shows excellent competitiveness in terms of appearance, interior, comfort, power and intelligent configuration. The price of the 216,600 is also relatively close to the people. Recently, there are preferential policies, and the price of the limited-time car starts from 18,86 yuan. Interested friends can go to the store for a test drive and learn about your local preferential situation by the way.