Huasheng Online March 15 (Reporter Yu Qian) What should I do if there is something wrong with my home appliances? Searching online for brand customer service telephone repair has become the first choice of many consumers. However, seemingly regular 400 telephones are not necessarily official after-sales hotlines, and there are many hidden dangers in on-site maintenance. Recently, a survey conducted by reporters in the columns of "Xiangwen Complaints Through Train" and "Consumer Complaints" found that the threshold for handling "400" calls was low, and the online search shanzhai hotline was given priority recommendation by search engines.

Search the brand "400" phone online.Encounter a "cottage"repair

At the beginning of March, Ms. Liao, a citizen of Changsha, found that the boiling water temperature of Baxi brand wall-hung boiler, which had been used at home for more than ten years, couldn’t get up, so she asked her husband to search the after-sales maintenance hotline of Baxi wall-hung boiler through the Internet and got a number of 4009918883. After dialing, the other party claimed to be the customer service of the manufacturer, so she could leave her address and arrange a maintenance master to come to the door.

A maintenance master who claimed to be sent by the manufacturer came to the door as scheduled. After a simple inspection, the maintenance master said that the controller was broken and needed to be replaced. The motherboard had some problems and needed to be repaired, which cost a total of 1,600 yuan. After some bargaining, the master finally agreed to charge 1000 yuan.

"The master fixed it quickly. After collecting money and adding WeChat, he left without leaving any documents, which was very casual." Ms. Liao recalled that the more she thought about it, the more wrong she was, and she found the official after-sales hotline 4006688700 from the official website of Baxi brand again. When she asked, she learned that she had encountered cottage maintenance, and the official maintenance quotation was actually half cheaper.

Ms. Liao spits out, "We just believe in online search too much. By default, as long as the phone starts with 400, it is formal."

Inconsistent official identification before and after customer service is false after-sales

On March 14th, according to the telephone provided by Ms. Liao, the reporter contacted the maintenance master and asked if it was "after-sales service of Baxi manufacturer". The master said that he was "from Baxi maintenance center".

As a consumer, the reporter dialed the telephone number 4009918883 that Ms. Liao’s husband called for repair at that time. Without telling the brand of home appliances, the wiring customer service claimed to be "a paid maintenance line, and any brand can be repaired, and orders can be received nationwide". After simply asking about the brand of home appliances, the fault situation and the location, the customer service also called itself the "eight-up special hotline" and told the reporter that there would be a master contact later, and the door-to-door fee would be 40 yuan, and the maintenance and replacement of accessories would be counted separately.

Subsequently, the reporter contacted Manager Pang, the after-sales person in charge in Hunan Province, through the after-sales service hotline 4006688700 displayed on Baxi official website. After listening to the reporter’s description, Manager Pang said that the reporter should have encountered a fake after-sales service of Baxi. "The official after-sales hotline is only 4006688700. After the customer reports for repair, he will receive a feedback message, and then the master with authorized service qualification will come to the door. The specific maintenance fee is charged according to the after-sales manual provided by the manufacturer, and formal documents will be issued after the repair."

"I have received many customers’ reports that the level of after-sales personnel in the cottage is uneven, and sometimes it is still minor and overhauled, but we can’t stop it." Manager Pang said helplessly.

The cottage is recommended first after sale.400 telephoneLow threshold for handling

When the reporter searched for the keyword "brand+after-sales" through the mobile phone, he found that many cottage maintenance information ranked in front of the official after-sales information, and was also marked with "national unified customer service hotline" and "headquarters maintenance". Many consumers said that it was difficult to identify if they did not browse carefully.

Why is the false after-sales hotline recommended first? An advertising agent of a search engine told reporters that the display order may be related to advertising bidding ranking and keyword matching, and the information with high price and high fit will be given priority.

Handling the "400" hotline is also very simple. The reporter’s investigation found that on a shopping platform, as long as you provide the business license, legal person ID card and official seal, you can do it with money. The minimum package is one year in 260 yuan, and the annual fee can be fully deducted. 114 can’t find the real information of the company.

Hunan Consumer Protection Committee reminds: Don’t trust the so-called "official maintenance" of online search.

Some insiders said that in recent years, some home appliance enterprises have paid more attention to marketing than after-sales. With the increase of operating costs, the number of regular home appliance repair stores has been decreasing, which has made some cottage repairs have living space, taking advantage of the characteristics of large market demand, low operating threshold, asymmetric information and high difficulty in illegal accountability, and fooling consumers into paying the bill.

In order to prevent consumers from encountering the trap of "cottage" home appliance maintenance, Hunan Consumer Protection Committee reminds consumers that when choosing maintenance services, whether within the warranty period or not, they should first choose the official after-sales service outlets of the purchased brands, and don’t trust the so-called "official maintenance" searched by the Internet; When applying for repair, we should try our best to explain the fault situation so that the door-to-door personnel can take the spare parts and dispose of them in time; After confirming the identity of maintenance personnel, it is necessary to know in detail the charging standards of maintenance projects and whether formal invoices can be issued. If necessary, you can seek technical support from official customer service and understand the official price charging standards; Consumers should collect relevant evidence for the behavior of raising the price or adding maintenance items in the middle of maintenance service, which can be reflected to the official website of the brand, or through relevant government departments and consumer associations to defend their rights.

Jianshi [2019] No.18

Housing and Urban-Rural Development Departments of all provinces and autonomous regions, Human Resources and Social Security Departments, Housing and Urban-Rural Development Committees of municipalities directly under the Central Government, Human Resources and Social Security Bureau, Housing and Urban-Rural Development Bureau of Xinjiang Production and Construction Corps, and Human Resources and Social Security Bureau:

　　The Ministry of Housing and Urban-Rural Development and the Ministry of Human Resources and Social Security have formulated the Measures for the Administration of Real-name System for Construction Workers (Trial) in order to implement the requirements of the Opinions of the General Office of the State Council on Comprehensively Governing the Wage Arrears of Migrant Workers (Guo Ban Fa [2016] No.1) and the Opinions of the General Office of the State Council on Promoting the Sustainable and Healthy Development of the Construction Industry (Guo Ban Fa [2017] No.19). Is issued to you, please combine the actual situation in the region, conscientiously implement.

Ministry of housing and urban-rural development of the people’s Republic of China

ministry of human resources and social security of the people’s republic of china

February 17, 2019

Measures for the administration of real-name system for construction workers (for Trial Implementation)

　　Article 1 In order to standardize the order of the construction market, strengthen the management of construction workers, safeguard the legitimate rights and interests of construction workers and construction enterprises, ensure the project quality and safe production, cultivate professional and skilled construction workers, and promote the sustained and healthy development of the construction industry, in accordance with the Construction Law, the Labor Contract Law, the Opinions of the General Office of the State Council on Comprehensively Governing the Wage Arrears of Migrant Workers (Guo Ban Fa [2016] No.1) and the Opinions of the General Office of the State Council on Promoting the Sustainable and Healthy Development of the Construction Industry,

　　Article 2 The term "real-name registration system of construction workers" as mentioned in these Measures refers to the system of comprehensive management of the employment, training, skills and rights protection of construction workers recruited by construction enterprises by means of authentication of real identity information.

　　Article 3 These Measures shall apply to housing construction and municipal infrastructure projects.

　　Article 4 The Ministry of Housing and Urban-Rural Development and the Ministry of Human Resources and Social Security shall be responsible for formulating the national regulations on the management of real-name system for construction workers, and guiding and supervising the implementation of real-name system management for construction workers in various places; Responsible for organizing the implementation of the planning, construction and management of the national construction worker management service information platform, and formulating the data standard of the national construction worker management service information platform.

　　Article 5 The housing and urban-rural construction departments and human resources and social security departments below the provincial level (autonomous regions and municipalities directly under the Central Government) shall be responsible for the real-name management of construction workers in their respective administrative areas, formulate the real-name management system for construction workers, and urge construction enterprises to fully implement the requirements for the real-name management of construction workers at the construction site; Responsible for establishing and perfecting the real-name management platform for construction workers in this administrative region, ensuring the completeness, timeliness and accuracy of all data, and realizing the communication and sharing with the national construction workers management service information platform.

　　Article 6 The construction unit shall agree with the construction enterprise on the relevant contents of implementing the real-name management of construction workers, urge the construction enterprise to implement various measures for the real-name management of construction workers, create conditions for the construction enterprise to implement the real-name management of construction workers, and pay the wages of construction workers in full and on time to the special account for wages opened by the construction enterprise in the bank according to the progress of the project.

　　Article 7 A construction enterprise shall undertake the responsibility of real-name management of construction workers on the construction site, formulate its own real-name management system for construction workers, equip full-time (part-time) real-name management personnel for construction workers, and upload relevant data to the real-name management platform of construction workers of relevant departments in real time, accurately and completely through information means.

　　General contracting enterprises (including construction general contracting, engineering general contracting and professional contracting enterprises that directly sign contracts with the construction unit according to law, the same below) take overall responsibility for the real-name management of construction workers who undertake the project, while subcontracting enterprises take direct responsibility for the real-name management of construction workers they employ, and cooperate with general contracting enterprises to do relevant work.

　　Eighth full implementation of the real-name management system for migrant workers in the construction industry, adhere to the construction enterprises and migrant workers to sign labor contracts before entering the site for construction. Construction enterprises should sign labor contracts with recruited construction workers according to law, provide them with basic safety training, and register on the real-name management platform of relevant construction workers before allowing them to enter the construction site to engage in activities related to construction operations.

　　Article 9 Project managers such as project leaders, technical leaders, quality leaders, safety leaders, and labor leaders shall bear the corresponding responsibilities for the real-name management of construction workers who undertake the project. Project managers and construction workers of construction units, contractors and supervision units who enter the construction site are all included in the real-name management of construction workers.

　　Tenth construction workers should cooperate with the relevant departments and the real-name management of the construction enterprises, and must sign labor contracts and receive basic safety training before entering the site.

　　Eleventh real-name registration system information of construction workers consists of basic information, employment information, integrity information and other contents.

　　The basic information should include the identity card information, education level, type of work (major), skill level (professional title or post certificate) and basic safety training of construction workers and project managers.

　　Employment information should include jobs, labor contract signing, attendance, salary payment and employment records.

　　Credit information should include credit evaluation, complaint reporting, good and bad behavior records and other information.

　　Twelfth general contracting enterprises should be based on the real identity information, collect the basic information of construction workers and project management personnel entering the construction site, and timely verify and update; Truly and completely record the employment information of construction workers’ jobs, labor contract signing, attendance and salary payment, and establish a real-name management ledger for construction workers; According to the real-name management requirements of construction workers where the project is located, the collected information of construction workers will be uploaded to relevant departments in time.

　　Construction workers who have entered the national construction workers management service information platform and have no data update for more than one year (including one year) shall be re-trained in basic safety when they are engaged in construction work, and relevant information shall be recorded, otherwise they shall not enter the construction site for post work.

　　Thirteenth construction enterprises should be equipped with hardware facilities and equipment necessary to realize the management of construction workers in real-name registration system. In principle, the construction site should be closed, an entrance and exit access control system should be set up, and biometric technologies such as face, fingerprint and iris should be used for electronic punching. Engineering projects that do not have closed management conditions should adopt technologies such as mobile positioning and electronic fence to implement attendance management. Relevant electronic attendance and electronic files such as images and videos shall be kept for at least 2 years.

　　The cost of implementing the real-name management of construction workers can be included in the safety civilized construction measures and management fee.

　　Article 14 A construction enterprise shall, according to the labor contract, directly pay wages to construction workers in full monthly through the special account for wages of migrant workers, and set up a "notice board for rights protection of construction workers" in a prominent position on the construction site to disclose relevant information.

　　Article 15 Housing and urban-rural construction departments at all levels, human resources and social security departments, construction enterprises, system platform development and application units shall formulate systems and take measures to ensure the safety of data and information related to real-name management of construction workers, as well as the authenticity and integrity of real-name registration system information of construction workers, and shall not omit or conceal it.

　　Article 16 Housing and urban-rural construction departments and human resources and social security departments at all levels should strengthen data sharing with relevant departments, establish an early warning mechanism for the protection of construction workers’ rights and interests through data utilization analysis and the use of new media and information technology channels, effectively protect the legitimate rights and interests of construction workers and improve their ability to serve them.

　　Seventeenth housing and urban-rural construction departments at all levels, human resources and social security departments should supervise and inspect the implementation of real-name management of construction workers by lower departments, and order rectification within a time limit for problems found; Refused to rectification or rectification is not in place, to interview the relevant responsible person; After the interview, it still refuses to make rectification or rectification is not in place, which is included in the scope of key supervision and brought to the attention of relevant departments for accountability.

　　Article 18 Housing and urban-rural construction departments at all levels shall, in accordance with the requirements of "double randomness and one openness", strengthen the daily inspection of the implementation of the real-name management system for construction workers at the construction site of their respective administrative areas, and investigate and handle complaints and reports related to the real-name management of construction workers. Those who violate the labor security rights and interests of construction workers, such as not signing labor contracts according to law and unpaid wages, shall be dealt with by the human resources and social security department in conjunction with the housing and urban-rural construction department according to law; Illegal problems or case clues involving the functions of other departments should be transferred in time according to the division of responsibilities.

　　Nineteenth housing and urban-rural construction departments at all levels can include the real-name management of construction workers in the standardized site assessment content. Real-name registration system information of construction workers can be used as the basis for relevant departments to deal with labor disputes of construction workers. All relevant departments should formulate incentive measures to support construction enterprises that effectively implement the real-name management of construction workers. If there is no wage arrears within a certain period of time, the wage deposit for migrant workers can be reduced or exempted.

　　Article 20 The housing and urban-rural construction departments at all levels shall correct the irregularities of enterprises and individuals found in the supervision and inspection, such as fraud, omission and concealment, make rectification within a time limit, enter them into the real-name management platform of construction workers and upload them to relevant departments in time. Refuse to rectify or rectification is not in place, can be dealt with through exposure, verification of enterprise qualifications, etc., there is wage arrears, can increase the proportion of migrant workers’ wage deposit payment, and record related bad behavior in enterprise or personal credit files, and announce it to the public through the national construction market supervision public service platform.

　　Twenty-first it is strictly forbidden for housing and urban-rural construction departments at all levels and human resources and social security departments to designate construction enterprises to purchase related products in the name of implementing the real-name management of construction workers; It is not allowed to arbitrarily charge fees under various pretexts, which will increase the extra burden of enterprises. Those who violate the rules and require construction enterprises to use a certain product or collect fees at random should be corrected immediately; If the circumstances are serious, it shall be submitted to the relevant departments for accountability according to law, and if the case constitutes a crime, criminal responsibility shall be investigated according to law.

　　Twenty-second levels of housing and urban and rural construction departments, human resources and social security departments should be combined with local conditions, formulate the detailed rules for the implementation of these measures.　　

　　Article 23 These Measures shall be interpreted by the Ministry of Housing and Urban-Rural Development and the Ministry of Human Resources and Social Security.

　　Article 24 These Measures shall come into force as of March 1, 2019.

In the early morning of 27th, Newcastle beat brentford 2-0 in the Premier League relegation battle. However, compared with the game, Eriksson’s coming off the bench for brentford is obviously more sensational.

The Danish star who almost died suddenly at last year’s European Cup finally returned to the pitch after 259 days.

Eriksson returns to the pitch. This article picture CFP

Break out of the "gate of hell" and rekindle the green dream

On June 12th, last year, Eriksson, who played for the Danish national team in the European Cup, suddenly fell to the ground without colliding with anyone in the group match against Finland. Fortunately, captain Kiel responded in time, giving Eriksson first aid for external pressure in the golden minute, and the on-site medical staff rescued him for 10 minutes, so that Eriksson, who had once stopped his heart, regained consciousness and was sent to hospital for medical treatment before he was able to save his life.

Eriksson later recalled that he asked the medical staff to accept his football shoes as a souvenir in the ambulance, because he felt that he could no longer play football and didn’t need football shoes anymore.

However, the miracle happened after all. After active treatment and automatic defibrillator implantation, Eriksson returned to normal and rekindled the idea of returning to the pitch. However, it is impossible to return to his old club Inter Milan. As the Serie A stipulates that all players who have implanted defibrillators are prohibited from participating in the Italian professional league, Eriksson has already terminated his contract with Inter Milan in advance.

Eriksson almost died suddenly at last year’s European Cup.

Eriksson, who had no ball to play, once trained with Danish team odense BK in order to recover his physical fitness and state-this was his home team when he debuted and the starting point of his career. Since then, another team that Eriksson once played for has lent a helping hand-Dutch giant Ajax. Since then, Eriksson has come to Amsterdam to train with Ajax youth team.

Join brentford and return to the Premier League.

On January 31st this year, Premier League team brentford announced that 29-year-old Danish midfielder Eriksson had joined the team on a free transfer and signed a contract this summer. It is reported that there is an option to renew the contract for one year.

Returning to the Premier League has always been Eriksson’s dream. After all, the highest light of his career was spent in the Premier League with Tottenham Hotspur. His agent previously admitted that returning to the Premier League was Eriksson’s priority. "He wants to go home." One advantage of brentford is that they are a London team like Tottenham.

In addition, Thomas Frank, the Danish coach of brentford, worked with Eriksson many years ago and knew his abilities like the back of his hand. Eriksson was one of them when he coached the Danish U17 youth team. In addition, there are as many as eight Danish players in brentford, including Norgard, Jensen, Rasmussen and Zanka, many of whom are Eriksson’s national team teammates.

Eriksson showed a good competitive state.

Although Eriksson is the biggest star in brentford, although the team’s recent record is poor and the pressure of relegation is great, it’s almost a month since he joined, and brentford has never arranged Eriksson to play in the official competition.

Obviously, in order to ensure no accidents, the club is quite cautious. For Eriksson, during this month, brentford arranged two closed-door friendly matches for Eriksson, so that he could re-adapt to the rhythm of the football field. As a result, Eriksson not only adapted freely, but also contributed assists continuously in these two games, showing his personal ability and field experience.

Substitute, back in the game after 259 days.

This round of Premier League, brentford vs Newcastle at home, which is a PK between relegation opponents. Before the game, fans around the world welcomed exciting news, and brentford coach Frank confirmed that Eriksson would enter the competition list.

"Eriksson will be on the list and he will play for brentford for the first time, which is so exciting. This is a big day for us, for Eriksson, for the fans and for his family. How important it was to Eriksson and his family at the moment he stepped into the stadium. "

Eriksson also wants to continue to contribute to the field.

In the early morning of 27th Beijing time, brentford showed the biggest courtesy to the team: all kinds of banners welcoming Eriksson were everywhere, full of human feelings. In fact, despite their feelings, today’s brentford really needs Eriksson, because they are only three points ahead of Burnley, the third from the bottom, but they have played three more games, and the pressure of relegation is quite great.

Finally, in the 52nd minute of the game, with brentford 0-2 behind, Eriksson was 259 days away from back in the game. Although it failed to help the team recover the defeat in the end, it was quite wonderful for Eriksson to come back after the game.

Eriksson said: "I am a happy person regardless of the result. After everything I have experienced, it is a wonderful feeling to return. Frank didn’t say much when I played. I talked to him every day for the past few weeks. He just wished me luck and enjoyed the game. From the first day I joined, it was very special. The club took care of me. Everyone was willing to help others. My family, parents, children, mother-in-law and some doctors who have been taking care of me are all here. What they experienced is even more difficult than what I experienced. "

Talking about the goal of this season, Eriksson said: "The first thing is to find the feeling of the game and then help brentford stay in the Premier League."

The company’s 2023 annual report recently disclosed by Kexing Pharmaceutical shows that the company achieved an operating income of 1.259 billion yuan, down 4.32% year-on-year, a net profit loss attributable to listed shareholders of 190 million yuan, and a non-net profit loss attributable to shareholders of listed companies of 201 million yuan.

The loss in 2023 is also the second year since 2022 that Kexing Pharmaceutical has fallen into a loss, and the amount of loss has intensified. The annual report disclosed by Kexing Pharmaceutical also shows that the company invested 345 million yuan in research and development in 2023, setting a new high since its listing. However, although R&D investment continued to increase, Kexing Pharmaceutical not only failed to turn losses, but further increased its losses. The turnover rate of scientific research personnel in Kexing Pharmaceutical is around 21.63%, and in 2023, the company lost half of its doctors.

Addition and subtraction of doctor introduction and loss

The data shows that in 2023, the company introduced 17 new doctors, and the number of doctors in 2022 was 25. However, the number of doctors disclosed in the company’s 2023 annual report was only 20. In other words, although 17 doctors were introduced, 22 doctors left the company in 2023, which means that 17 postdoctoral doctors were introduced and half of them left Kexing Pharmaceutical in 2023.

How does Kexing Pharmaceutical, which relies on high-end talents for drug research and development, maintain innovation in research and development? What are the hidden dangers behind the abnormally high turnover rate of high-end talents?

Except for doctors, the overall number of R&D personnel of Kexing Pharmaceutical is in a state of substantial loss. The data shows that in 2022, the number of graduate students in the company was 87, and in 2023, the number of graduate students has been reduced to 79; In 2022, the number of R&D personnel with bachelor’s degree was 72, and in 2023, the number of R&D personnel with bachelor’s degree was only 53; In 2022, the number of R&D personnel with junior college or below was 24, and in 2023, it has dropped sharply to 11.

In 2022, there were 208 R&D personnel in the company, and in 2023, the number of R&D personnel in the company has been reduced to 163, a year-on-year decrease of 21.63%. In 2020 and 2021, the number of R&D personnel in the company was 170 and 194 respectively. In 2023, the number of R&D personnel of the company also hit a new low since listing.

R&D investment has reached a new high, but R&D personnel have been greatly lost and net profit has been greatly lost. For example, Kexing Pharmaceutical has fallen into a strange circle of more R&D investment and more losses this year.

The R&D investment of listed companies in the same industry disclosed in the company’s research report shows that the R&D investment of Tebao Bio, Sihuan Bio, Sanyuan Gene, Wan Ze Co., Ltd. and Cain Technology accounted for 13.33%, 14.42%, 20.65%, 16.68% and 12.22% of the operating income respectively, while the R&D investment of Kexing Pharmaceutical accounted for 27.4% of the operating income in 2023.

Overseas commercialization is not effective only by shouting.

The annual report disclosed this time also exposed the embarrassing reality of the company’s overseas commercialization strategy.

The annual report shows that the company’s export revenue in 2023 was 138 million yuan. Compared with 2022, the company’s export revenue did not rise but fell. In 2022, the company achieved overseas sales revenue of 161 million yuan, an increase of 61% over the same period of last year, setting a record high.

Kexing Pharmaceutical once regarded overseas commercialization as an important strategy, and the company indicated that it would devote itself to building the most valuable overseas commercialization platform in China. However, in three years, the company’s export income still accounts for only about 10% of the company’s operating income.

As early as 2021, Kexing Pharmaceutical introduced albumin paclitaxel, and obtained the technology of albumin paclitaxel and its commercial rights except the American market. However, albumin paclitaxel has only recently passed the GMP certification of the European Union, and if the drug goes on the market, it needs to be approved by the European Union Marketing Permit Application (MAA).

Although the company has introduced a total of 12 products, signed contracts with customers in more than 40 countries and submitted applications for registration of imported products, it still seems that it has not been sold in overseas markets. "infliximab, bevacizumab, albumin paclitaxel and other products have successively completed on-site audits in Egypt, Brazil, Indonesia, the European Union and other countries, and it is expected that overseas sales of the above products will be realized in 2024.

On the evening of May 24th, Kexing Pharmaceutical released the 2024 restricted stock incentive plan (draft). The number of restricted shares to be granted is 3.786 million shares, with a total of 147 people to be encouraged.

The assessment year of this incentive plan is two fiscal years from 2024 to 2025, and it is assessed once in each fiscal year. Taking the company’s overseas sales revenue in 2023 as the performance base, the growth rate of overseas sales revenue in each assessment year or the cumulative number of overseas registration documents was assessed. Based on the overseas sales revenue in 2023, it is planned that the growth rate of overseas sales revenue will be 50%-100% in 2024 and 200%-400% in 2025.

In 2023, the company’s export revenue will decline instead of rising, but in 2025, the overseas sales revenue will increase by two to four times. Although the vision of Kexing Pharmaceutical is beautiful, it still has a long way to go.

Original title: "It is related to Kexing vaccine! Look quickly! 》

Read the original text

　Fan Chunhai is a member of the Central Committee of Jiu San Society, a professor at the School of Chemistry and Chemical Engineering of Shanghai Jiaotong University, and a member of the Shanghai Municipal Political Consultative Conference. In 2019, he was co-elected as an academician of China Academy of Sciences.

At the age of 26, he received a doctorate in biochemistry and molecular biology from Nanjing University.

At the age of 33, he was supported by the Outstanding Youth Fund of the National Natural Science Foundation of China.

At the age of 42, his team developed a new method for inducing nano-scale precise mineralization by DNA self-assembly structure, which was published in Nature, and achieved the first breakthrough in the field of DNA nanotechnology by China researchers.

He has been selected as a "highly cited scientist in the world" in the past six years.

At the age of 45, he was elected as an academician of China Academy of Sciences, the youngest among the Shanghai academicians in 2019.

He is Fan Chunhai, member of the Central Committee of the Jiu San Society, member of the Shanghai Municipal Committee of the Chinese People’s Political Consultative Conference, and director of the Shanghai Municipal Committee of the Jiu San Society.

Fan Chunhai’s office is located in the Translational Medicine Research Center of Shanghai Jiaotong University. Next to the simple and bright office is a uniform laboratory. The experimental platform is filled with all kinds of equipment. The window is bright and clean, with few other colors except black and white. Fan Chunhai, who has just been interviewed by his alma mater, is still immersed in the memories of middle school life. Talking about today’s achievements, he said with emotion: "These 20 years happened to be a period of rapid development in China, and the conditions and level of scientific research have undergone tremendous changes. I am glad to catch up with such a good era and let me make great achievements in scientific research."

Fan Chunhai belongs to the Ministry of Chemistry in the published results of the co-election of academicians of China Academy of Sciences. He once won the Tan Jiazhen Prize for Innovation in Life Sciences, one of the most influential awards in the field of life sciences in China. After returning to China, he chose the Shanghai Institute of Applied Physics of Chinese Academy of Sciences as his work unit. Under such a "cross-border", it seems difficult to define his professional field. His explanation for this is: "Subject field and research direction are different concepts, and my research direction has not changed for more than 20 years. I have been engaged in basic research on biosensing since I was a graduate student, just to explore the unknown world and need a broader vision. "

In 1992, Fan Chunhai, who was preparing to take the college entrance examination, applied for the Department of Biochemistry of Nanjing University. "At that time, the choice of biochemistry was blind and I didn’t understand it at all. But I vaguely feel that biochemistry has both biology and chemistry. This name is cool! " Fan Chunhai recalled.

樊春海在南京大学读书时，生物化学系就有浓郁的学科交叉氛围，系里的口号是“学不好化学，就做不好生物化学”。我国生物制药技术研发的开拓者之一，肝素、尿激酶工业的创始人朱德煦时任系主任，中国科学院院士、生命分析化学概念的创导者和生命分析化学国家重点实验室创始人陈洪渊的博士李根喜在生物化学系任教，樊春海在研究生期间得到他们的指导，在生物化学和生命分析化学两条学术传承线的交叉点起步，从事电化学生物传感器的研究，这在当时属于前沿交叉学科。

在前沿学科里不断前进，必须更多地了解国际上的科研动态，“我读书那会儿，经常需要看国外文献，遗憾的是那时看到的文献会滞后至少半年。”樊春海偶然读到《先进材料》（Advanced Materials）杂志对圣塔芭芭拉加州大学（UCSB）艾伦？黑格（Alan J. Heeger）教授（诺贝尔化学奖获得者）的专访文章。文章中黑格表示，自己在获诺贝尔奖后希望做一些以往不敢做的事，比如生物学，特别是生物传感方面的研究。樊春海内心有种一拍即合的快感，随即就向黑格教授申请了博士后，并最终获得认可。

Allen? Haig is a professor in the Department of Physics, but he always advocates interdisciplinary research. Many years later, Professor Haig said modestly in a speech in China: "I knew nothing about biology at that time, even the most basic knowledge such as DNA molecular structure was taught by Chunhai."

"Studying in a Nobel Prize winner’s laboratory, the vision of seeing problems and the way to deal with problems are very different from those in an ordinary laboratory." Fan Chunhai admits that when he was working as a postdoctoral fellow, he realized a deeper connotation about interdisciplinary. Working in Haig’s laboratory, Fan Chunhai had to carry out multiple scientific research projects at the same time, which once overwhelmed him. "You just pick the most important thing to do." This sentence of the tutor made Fan Chunhai enlightened, and he still often guides him to make judgments.

Under the guidance of Professor Haig, Fan Chunhai has made some research progress, and related research work has been published in authoritative magazines such as Proceedings of the National Academy of Sciences (PNAS) and Journal of the American Chemical Society (JACS). Among them, an electrochemical DNA biosensor named E-DNA has been developed, which has been widely praised by international peers. American Chemical Society C&E News rated it as one of the important chemical progress in 2003.

The postdoctoral experience has greatly broadened Fan Chunhai’s horizons and strengthened his confidence in interdisciplinary research. At that time, China was in the initial stage of discipline construction and needed a lot of new blood. In January 2004, Fan Chunhai joined sinap with the support of the "Hundred Talents Program" of China Academy of Sciences. Coincidentally, the day when he joined the defense was the day when the Shanghai Synchrotron Radiation Light Source Project undertaken by the Institute was approved after ten years of hard preparation. This internationally advanced synchrotron radiation light source was completed in only five years. The scientists who participated in the project are not afraid of hardships and hard work, and are praised as "Shanghai Light Source Spirit". In the past five years, under the inspiration of "Shanghai Light Source Spirit", Fan Chunhai built a laboratory from scratch.

In 2008, Fan Chunhai and others established a physical biology laboratory and set up a multidisciplinary research team integrating physics, chemistry and biology. This unique interdisciplinary research atmosphere not only enabled the biosensor research to advance rapidly, but also broadened more frontier research directions. In 2016, the important achievement of the laboratory, "Research on Mechanism, Regulation and Application of Biomolecular Interface", won the second prize of National Natural Science.

In recent years, Fan Chunhai’s team has applied biosensing probes detected in vitro to cells, and is committed to developing frame nucleic acid cell imaging technology. "It doesn’t matter what technology you use, physics or chemistry, or nanotechnology. What matters is that you find some new methods and use some new technologies to observe and decipher the mysteries of life."

"Individual growth cannot be separated from excellent collectives"

Fan Chunhai always appreciates the strength of the collective. Whether it is the study and life in middle schools and universities or the scientific research work, Fan Chunhai believes that the excellent collective has given him the motivation for personal growth.

He recalled that he was never the best student in middle school. "I am a person who knows by learning, not a person who knows by birth." In high school, many of my classmates were excellent. Everyone always discussed problems harmoniously and equally, forming a rich learning atmosphere. Under the professional guidance of teachers, everyone was growing and making progress. In the end, the whole class handed over an excellent answer sheet in the college entrance examination. "

There is such a collective star effect in scientific research, such as the famous Cavendish laboratory, which has trained more than 20 Nobel Prize winners in the past 100 years. "So scientific research has never been alone, and the progress of each group cannot be separated from individual efforts, and the growth of individuals cannot be separated from an excellent group." Fan Chunhai said.

At the beginning of this century, the scientific research conditions in Chinese universities were still relatively difficult, and the information was not as developed as it is now. It was the dream of many analytical chemists in China to be able to publish papers in Analytical Chemistry in the United States. At that time, only Mr. Chen Hongyuan in Nanjing University published papers in this magazine. Fan Chunhai published a paper in Analytical Chemistry as the first author under the guidance of his tutors, and achieved a breakthrough.

Interdisciplinary cooperation is also inseparable from the cooperation between scientists and the whole team. Fan Chunhai, deeply inspired by the "Shanghai Light Source Spirit", hopes to do the same internationally influential research work in Shanghai Institute of Applied Physics, Chinese Academy of Sciences. Mr. Li Mingan and researcher Hu Jun are early explorers in the cross-research of nano-organisms in China. With their guidance and help, Fan Chunhai gradually made it clear that DNA nanotechnology is the starting point to form research characteristics.

DNA nanotechnology is to use the excellent self-assembly and recognition ability of DNA molecules as a nano-material to achieve accurate nano-construction. In 2006, the nano-scale "Map of China" assembled by DNA molecules was successfully created and published in both Chinese and English editions of Science Bulletin, which made an international appearance with China characteristics and became the second published work in the frontier cross field of "DNA origami", which was jointly completed by Fan Chunhai, Hu Jun and Academician He Lin of Shanghai Jiaotong University.

After years of accumulation, Fan Chunhai’s team developed a new method to induce nano-scale precise mineralization by DNA self-assembly structure, which improved the mechanical properties of DNA nano-structure while maintaining its exquisite design, and opened a new door for the construction and analysis of bionic nano-channels. This research achievement was published in the journal Nature, which achieved the first breakthrough in this field by researchers in China.

During the epidemic in COVID-19, due to the lack of Covid-19 RNA reference materials, the performance of nucleic acid detection kits could not be evaluated, and the competitiveness of high-quality domestic kits could not be strongly proved. Faced with this situation, with the deep participation and support of Fan Chunhai’s team, Shanghai Jiaotong University and Shanghai Institute of Metrology and Testing Technology jointly set up a research team and started the research and development project of Covid-19 RNA reference materials. After more than 40 days of repeated trials and improvements, two kinds of "novel coronavirus standard materials for RNA transcription in vitro" were successfully developed. These Covid-19 reference materials, like a "biological standard ruler", can help people to evaluate the indicators of the virus nucleic acid detection kit and help the detection laboratory to confirm the results, thus further reducing the probability of "false negative".

Facing the students from different majors in the team, Fan Chunhai advocates teaching students in accordance with their aptitude and effective guidance. "Students are not managed, but grow up freely under appropriate guidance. My task is to tap students’ interest in scientific research, help them establish correct values and lofty aspirations, and become firm supporters of students."

The road of scientific research has always been bumpy. The life of researchers is more like an ascetic monk to many people, but in their hearts, they are happy because of their love for science. In Fan Chunhai’s view, this happiness is not equal to comfort. He encourages students: "To do scientific research, we should be brave enough to go out of our comfort zone and challenge new things."

"Teamwork and independent thinking are equally important. I hope that every student can choose his own topic under the background of team research, and actively explore various possibilities without relying on authority." Despite his busy work, Fan Chunhai will try his best to take time to communicate with the students face to face, not sitting in danger, but full of relaxation and pleasure.

Fan Chunhai always tries his best to support and encourage students’ decisions and every attempt. Under his training, two students have been supported by the National Science Fund for Distinguished Young Scholars, and four postdoctoral students have been selected for the "Super Postdoctoral Program" in Shanghai in 2020.

Communication and cooperation promoted Fan Chunhai’s scientific research work, and also made him know Li Xinxin, chairman of the Shanghai Branch Committee of the Shanghai Municipal Committee of the Chinese Academy of Sciences of the Jiu San Society. The warmth of the Jiu San Society and the spirit of patriotism, democracy and science attracted him. In 2014, he joined the Jiu San Society.

After joining the club, Fan Chunhai successively served as deputy director and director of the Shanghai Municipal Committee of the Jiu San Society. Although his scientific research work is still busy, he will still find time to engage in popular science work. "Popular science work is actually a kind of inheritance. Whether it is exploring the unknown world or promoting the country’s scientific and technological development, it needs the efforts of generations. However, the concept of scientific research is not exactly the same as that of textbook education in primary and secondary schools. Our popular science work is not a simple strengthening of textbook knowledge, but a broader vision for children. "

In his mind, interests are hierarchical. The interests of primary and secondary school students are often in textbook knowledge and the use of known world knowledge, while real scientific talents need to keep their interest in exploring the unknown world. Spreading the seeds of science in children’s little hearts will not only keep them interested in exploring the unknown world, but also make the city form an atmosphere of obeying and respecting science, which is also the future light of the construction of Shanghai Science and Technology Innovation Center.

Looking back on his own growth experience, Fan Chunhai said with emotion: the cultivation of quality is more important, and the knowledge learned by the school is constantly updated, and the quality cultivated by the school will accompany people all their lives, and good quality will push people forward.

Good quality also made Fan Chunhai on his way to school recognized by teachers. "I am very relieved about what I have told him. No matter whether I get satisfactory results or lessons from failure after completion, he will definitely reply to me and have a serious discussion with me." Professor Li Genxi said of his students, "He is patient in learning and can hold his breath. Once his goal is set, he will be firm and forge ahead. His success is no accident."

In the interview, Fan Chunhai rarely talked about specific difficulties, because he believed that difficulties always existed, and problems could be solved as long as he worked hard and was good at learning and observing. In the communication with his students, Fan Chunhai has always conveyed a belief: optimistic and unyielding. "The development of science is not a full stop, but a comma. The success of scientific research depends on whether you have the courage to face failure and the determination to be more frustrated on the road of exploration. I hope that all students can work hard for the scientific dream of mankind."

It has been nearly thirty years since I entered the university and contacted the interdisciplinary subject of biochemistry. Along the way, Fan Chunhai has grown from an ignorant teenager to an internationally renowned scientist: he was selected as a Fellow of American Association for the Advancement of Science (AAAS), American Academy of Medical and Biological Engineering (AIMBE), international society of electrochemistry (ISE) and royal society of chemistry (RSC), and concurrently served as the deputy editor of ACS Applied Materials & Interfaces Journal of American Chemical Society. Co-chairman of the editorial board of ChemPlusChem, royal society of chemistry, has been selected as a "global highly cited scientist" continuously since 2014. In 2019, he was elected as an academician of China Academy of Sciences, and won the ho leung ho lee foundation Science and Technology Innovation Award, the American Chemical Society’s Lecture Award for Progress in Measurement Science and the 12th Tan Jiazhen Life Science Innovation Award, and in 2020, he was awarded the title of "National Advanced Worker".

Faced with many honors, Fan Chunhai said calmly: "It is curiosity, responsibility and initial heart that lead me to climb to the peak on the road of science." In the future, he said that he will continue to keep his initial heart and forge ahead, lead students to "look up at the stars, be down-to-earth, persevere and make contributions for a long time", constantly explore the frontiers of science, and make due efforts to promote the scientific and technological progress of the country and society.

Fan Chunhai’s goal is to promote his basic research work to clinical application and protect human health. After joining the School of Chemistry and Chemical Engineering of Shanghai Jiaotong University, Fan Chunhai built the laboratory of "Framework Nucleic Acid Design and Nano-medical Diagnosis and Treatment" based on the newly completed national major scientific and technological infrastructure of translational medicine, and devoted himself to transforming and applying the developed new methods of nucleic acid analysis and detection to clinic. In particular, he received the full support of Academician Tan Weihong, Dean of the Institute of Molecular Medicine of Shanghai Jiaotong University, and actively carried out clinical cooperation in Renji Hospital, trying to apply biosensors to the detection of practical clinical samples such as prostate cancer, and exploring the possibility of developing low-cost medical detection.

"The road is long and Xiu Yuan is awkward, and I will search up and down." Fan Chunhai is still moving forward on the road of seeking. In 2019, in order to commemorate the tenth anniversary of the publication, "Nature? The magazine Nature Chemistry specially invited more than 50 internationally renowned scholars to write a monograph on "The Road to Chemistry". As one of them, Fan Chunhai raised a challenging question in the field of chemistry: "An exciting frontier of the discipline is to understand how artificially designed nucleic acid structures are assembled and function in living cells and animals. Creating new tools to control the assembly process of natural and artificial nucleic acid molecules in living cells will probably bring revolutionary changes to the field of nucleic acid chemistry, thus promoting the development of nano-diagnosis and treatment and precision medicine. In the longer term, another promising research direction is to explore and develop DNA or RNA robots with artificial intelligence and work in animals and humans. " (Huang yun)

　　There are three ways to upgrade the sogou input method: 【 Manual Update 】 means not to update, and click 【 Update Now 】 to update yourself. [Prompt Update] is to prompt when there is a new version. Automatic update is to download and install the updated new version automatically when a new version is found.

　　Sogou input method is a Chinese Pinyin input method recently launched by Sohu, which is a great breakthrough compared with Intelligent ABC and Microsoft Pinyin input method. First of all, it has increased a lot in the thesaurus. The sogou input method includes the most popular phrases, including the names of famous stars, into the thesaurus by analyzing a large number of web pages, so that the phenomenon that commonly used phrases can’t be typed is no longer seen. Secondly, the interface has also been greatly improved. Chinese characters will be automatically displayed below the typed letters, and it is no longer necessary to press the space bar. More convenient input and faster typing speed are the main features of sogou input method.

　　Sogou input method is different from the traditional method in that it adopts search engine technology, which is the second generation input method. Thanks to the adoption of search engine technology, the speed has made a qualitative leap, and sogou is far ahead of other input methods in terms of the breadth of thesaurus and the accuracy of words.

　　The biggest feature of sogou input method is the combination of input method and Internet. The input method will automatically update its own popular thesaurus, which is derived from the popular keywords of sogou search engine. In this way, the workload of users’ self-created words is reduced and the efficiency is improved.

In the 1970s, the international situation changed rapidly, and a new situation appeared in China’s foreign relations. In 1974, Mao Zedong made a new judgment on the international pattern and put forward a strategic idea of dividing the three worlds.

From a "middle zone" to "two middle zones"

The strategic thought of dividing the three worlds contains profound thinking and long-term exploration of the international pattern, which comes from the theory of "middle zone"

Regarding the division of international pattern, Mao Zedong first put forward a theory of "middle zone". After World War II, the relationship between the United States and the Soviet Union deteriorated, and a full-scale civil war broke out between the Kuomintang and the Communist Party. It was impossible for Mao Zedong to put China on the road of new democracy through peaceful and democratic means. At the critical moment of the situation transformation, Mao Zedong put forward the theory of "two camps" and "one middle ground" in the summer of 1946. He believes that the post-war world is divided into a peaceful and democratic camp headed by the socialist Soviet Union and a reactionary camp headed by American imperialist forces; There is a vast middle zone between the United States and the Soviet Union, which is composed of many capitalist countries and colonial and semi-colonial countries in Europe, Asia and Africa. The realistic problem facing the world after the war is that the United States is trying to control and invade countries in the middle zone, including China. This theory makes a unique division of various international political forces, points out China’s position in the world, and clarifies the relationship between friends and enemies of the China Revolution in the world. Since then, when the China Revolution is about to win, this theory naturally leads to the conclusion of "one-sided" to the socialist Soviet Union.

Since then, with the changes in the international situation and surrounding environment, Mao Zedong has put forward the strategy of "two intermediate zones". In the early 1960s, the international movements of countries in Asia, Africa and Latin America against imperialism and colonialism, striving for and safeguarding national independence continued to rise, and the internal contradictions in the capitalist world continued to develop. Judging from China’s foreign relations, Sino-US relations continue to be tense, and Sino-Soviet relations are on the verge of rupture. From the end of 1963 to the beginning of 1964, Mao Zedong put forward the strategy of striving for "two intermediate zones". He divided the "middle zone" into two parts, one part refers to the underdeveloped countries in Asia, Africa and Latin America, and the other part refers to capitalist countries and eastern European countries except the United States. Mao Zedong pointed out that these two parts are opposed to American control, while eastern European countries are opposed to Soviet control. Mao Zedong believes that in the process of confronting the two great powers, China should unite the two middle areas as much as possible. The strategy of "two intermediate zones" has relieved China’s external pressure to some extent. In 1964, China and France broke through the barriers of different ideologies and social systems and formally established diplomatic relations. During this period, China’s relations with African and Arab countries have also developed significantly.

The changes in Sino-US relations have caused a chain reaction.

In the early 1970s, the foundation of tripartite relations between China, the United States and the Soviet Union changed significantly, and the trend towards multipolarity in the world gradually emerged. Mao Zedong began to re-examine the new international situation and China’s foreign relations, and put forward the strategic idea of "three worlds" division.

Since the late 1960s, new changes have taken place in the international pattern. First of all, the balance of power between the United States and the Soviet Union has changed, from the dominance of the United States to a balance of power, and the position of the United States among Western allies has also weakened. Secondly, western Europe and Japan are gradually reviving, and the centrifugal tendency of eastern European countries towards the Soviet Union is also developing. Finally, China has gradually become an independent and important political force on the international stage, and the power and influence of other Asian, African and Latin American countries have also further increased. During this period, China’s foreign relations have undergone major changes. On the one hand, the border conflict between China and the Soviet Union in 1969 and the nuclear threat of the Soviet Union since then made Mao Zedong deeply feel the seriousness of national security issues. On the other hand, China and the United States began to ease their relations out of consideration for their respective national security. In the spring of 1971, "Ping-Pong Diplomacy" kicked off the relaxation of Sino-US relations. In February of the following year, President Nixon visited Beijing, and the process of Sino-American reconciliation started. In October 1971, the 26th United Nations General Assembly adopted a resolution to restore China’s lawful seat in the United Nations, and then the climax of the establishment of diplomatic relations between countries and China appeared. With the relaxation of Sino-US relations, the Soviet Union has become the biggest and most direct threat to China. In 1973, Mao Zedong put forward the strategic idea of "one line" and "one large area", hoping to establish a United front from Japan through Europe to the United States.

With the rapid development of international situation and China’s foreign relations, Mao Zedong put forward the strategic idea of dividing three worlds. In February 1974, when talking with Zambian President kaunda, Mao Zedong first put forward the strategic idea of dividing the three worlds. He pointed out: "I think the United States and the Soviet Union are the first world. The centrists, Japan, Europe, Australia and Canada, are the second world. We are the third world. " He also said: "The third world has a large population. Asia is a third world except Japan. All of Africa is the third world, and Latin America is also the third world. " According to the division of Mao Zedong, China belongs to the third world, so it is necessary to strengthen unity with third world countries and strive for unity with second world countries; Among the two superpowers in the first world, they mainly develop relations with the United States and concentrate on opposing the hegemonism of the Soviet Union.

On April 6, 1974, at the proposal of Mao Zedong, Deng Xiaoping led a delegation from China to attend the sixth special session of the United Nations General Assembly. This is the first time that a People’s Republic of China (PRC) leader has attended a United Nations meeting, which has attracted worldwide attention. On April 10th, in his speech at the conference, Deng Xiaoping comprehensively expounded Mao Zedong’s strategic thought on dividing the three worlds and China’s foreign policy. He emphasized that China is a socialist country and a developing country, and China belongs to the third world. The government of China and the people of China firmly support all the oppressed people and nations in their struggle for and maintenance of national independence, development of national economy and opposition to colonialism, imperialism and hegemonism. China is not and will never be a superpower. This has actually repositioned China’s international role and further clarified China’s corresponding international responsibilities.

Compared with the "two intermediate zones" strategy in the 1960s, the most obvious difference in the strategic thinking of the three worlds is to treat the Soviet Union at the same level as the United States. This change is based on the changes in the relations between China, the United States and the Soviet Union, uniting with the party that poses less threat to China and concentrating on preventing the main threat from China. In terms of ideological methods, the criteria for dividing the three worlds are no longer based on the nature of class and society, but mainly on comprehensive national strength. It enables people to clearly see the position of countries in the world in international political and economic relations.

Expanded the stage of China’s diplomatic activities.

The strategic thought of dividing the three worlds is the result of Mao Zedong’s long-term deliberation, which has great significance and far-reaching influence on China’s foreign strategy and foreign relations.

The strategic thought of dividing the three worlds is based on Mao Zedong’s scientific judgment on the international situation and accurate understanding of the international pattern. It is saturated with Mao Zedong’s long-term political experience in international struggle and is the development of Mao Zedong’s United front theory under the new situation. The strategic thought of dividing the three worlds reveals the main characteristics of the development of the world situation at that time and the basic pattern of the strength comparison among countries in the world, and determines China’s international status and strategic goals from the historical, realistic and strategic significance. This thought has long been the theoretical basis and main basis of China’s foreign strategy, and its role and influence continued until the disintegration of the Soviet Union, the disappearance of bipolar confrontation and the overall change of the original international pattern.

Under the guidance of Mao Zedong’s strategic thought of dividing three worlds, China’s diplomatic work has made a comprehensive breakthrough. China broke through the pattern of "two camps", implemented the policy of "one line" and "one large area", persisted in opposing the hegemonism and the threat of war of superpowers, worked hard to normalize Sino-US relations, actively improved relations with second world countries, and vigorously developed friendly cooperation with third world countries and other types of countries. From 1970 to 1976, China successively established diplomatic relations with 61 countries, and more than 110 countries established diplomatic relations with China, including most countries in the world at that time. This completely broke the diplomatic deadlock caused by China’s isolation and containment for a long time, greatly improved the international environment in China, and greatly expanded the scope of China’s diplomatic activities. At the same time, it also ensures that China can smoothly implement reform and opening up and participate in international affairs more extensively in the near future.

Author: Sun Yanling

Source: study times.

Text | market value observation Xiao Li flying knife

Editor | Xiao Shimei

Recently, the international gold price is witnessing history every day, and the current price once exceeded $2,380 per ounce.

Under the skyrocketing price of gold, ETFs tracking the spot price of gold also ushered in brilliant performance. Among them, the gold ETF Huaxia (518850) rose nearly 16% in more than one month, which was more than 50% higher than the low point in March 2021, which caused great concern in the market. In the eyes of many professional organizations, this round of gold bull market is far from over.

【 cycle cycle 】

Historically, the price of gold has experienced many rounds of bull-bear cycles.

After the Great Depression in 1929-1933, most developed economies abandoned the gold standard and implemented the paper money system. As a functions of money, gold has been greatly weakened, and the price of gold is facing revaluation, which has soared by more than 70% in just a few years. This is the first time that people have witnessed the power of gold.

Since then, the international gold price was tepid, and it was not until 1970-1980 that the second super bull market was ushered in, with a cumulative increase of 430%.

In 1971, Nixon brazenly announced the suspension of the exchange of dollars into gold, the Bretton Woods system collapsed and the value of gold was revalued again. In addition, after the decoupling of the US dollar from gold, the US fiscal and monetary policies were like wild horses, which eventually led to a round of hyperinflation, which also drove the current round of gold prices to rise sharply to some extent.

Subsequently, gold ushered in a 20-year super bear market. During this period, gold continued to depreciate, in sharp contrast to the rising prices of major economies around the world. Among them, American prices soared by 500%.

In 2000, before the bursting of the Internet bubble in the United States, the global stock market was extremely enthusiastic, and gold was at the end of the bear market cycle, gradually bottoming out and opening the road to rebound.

From 2006 to 2008, there was a super bubble in the American real estate market, and the price of gold continued to rise to a high of $1,000. Since then, with the collapse of Lehman Brothers, the subprime mortgage crisis has swept the world. As a major asset, gold has also fallen more than 20% following the stock market and bond market in just a few months.

In November 2008, the United States officially launched the QE policy, and large-scale over-issuance of money saved finance and economy from fire and water. The European Central Bank also implemented quantitative easing policy and expanded its balance sheet rapidly. The huge amount of liquidity continuously depressed the market interest rate and entered the zero interest rate range in December 2011. In the same period, the Bank of Japan’s QE and QQE policies came out.

The global mainstream currencies flooded, the real interest rate of the US dollar fell, and gold rose all the way to 2011, with the highest exceeding $1,900 per ounce.

▲COMEX gold main futures price chart, source: Chocie

After this bull market, gold ushered in a bear market for nearly seven years. The price of gold once dropped from a high level to $1,045 per ounce in 2015, with a cumulative decline of 46%. After that, it oscillated at the bottom for several years and started a new bull market cycle in October 2018.

From the perspective of historical deduction, once the gold price enters the bull market or bear market cycle, the trend will not end soon, and the duration can often last for more than 10 years. If this gold bull market follows the historical laws, it is a good choice to invest in gold-themed index funds such as gold ETF Huaxia (518850).

"Different bull market"

As we all know, gold has three attributes, including finance, hedging and commodities.

Financial attributes are mainly priced by two major indicators, one is inflation expectation and the other is nominal interest rate. To put it simply, gold has been used as a "hard currency" against inflation over the years-inflation has gone up, and gold tends to rise; Deflation, gold tends to fall. Nominal interest rate generally regards the yield of 10-year US bonds as opportunity cost. When the nominal interest rate goes down, gold tends to go up, and vice versa.

The combination of two factors, that is, the real interest rate (nominal interest rate-inflation expectation), is one of the important logics that determine the long-term trend of gold prices.

Hedging is the most important attribute of short-term fluctuation of gold, but it can’t support the performance of gold price in the medium and long term. Commodity attributes are weaker than the first two, because the demand for gold consumption (such as gold ornaments) is relatively stable and the supply is relatively stable, which often has little impact on the price of gold.

Then, since October 2018, why has a sharp bull market broken out in gold? How is this different from previous cycles?

From October 2018 to the end of 2022, there was a relatively obvious negative correlation between gold and the real interest rate as a whole, which was not very different from the past big cycle.

▲ US real interest rate VS gold futures price trend, source: m square

At the end of 2018, the Federal Reserve entered the end of the interest rate hike cycle since 2015, and then cut interest rates three times in 2019. In 2020, when the COVID-19 epidemic crisis hit, the Federal Reserve quickly lowered the federal benchmark interest rate to zero, and its balance sheet expanded by $5 trillion. Massive currency liquidity flooded into the market, the real interest rate fell sharply, and gold as a whole showed a continuous upward trend.

Since the end of 2022, the real interest rate in the United States has fluctuated and risen, but gold has continued to strengthen. Recently, the macro data of non-agricultural employment and inflation in the United States have performed strongly, indicating that the economic fundamentals are strong, and the yield of 10-year US bonds has also rebounded to above 4.4%, driving the real interest rate to rise, but gold is still unmoved and crazy.

From the real interest rate in the past big cycle, the main pricing factors can no longer effectively explain the surge in the second stage of this gold bull market. The main reason is that the crazy purchase of gold by global central banks has become another important factor leading the trend of gold prices.

In 2022, global central banks bought 1,082 tons of gold, a significant increase compared with the previous 450 tons, setting a record high. In 2023, the net purchase again was 1,037.4 tons, which continued to maintain a high level, close to 20% of the annual gold supply. Among them, the biggest buyer originated from the Bank of China.

▲ The central bank’s demand for gold purchases has increased rapidly. Source: Zeping Macro

As of March, 2024, the gold reserve of the Bank of China was 72.74 million ounces, up 160,000 ounces from the previous month. It is worth noting that this is the 17th consecutive month that the Bank of China has increased its holdings by 10.1 million ounces, or about 286 tons. According to the current gold price, the increase in holdings exceeds 170 billion yuan.

Since March, gold has continued to skyrocket, which has stimulated the rapid increase of global non-commercial long positions in gold for speculative profits and the relative decline of short positions. This undoubtedly exacerbated the soaring price of gold with a very steep slope.

From the short-term and medium-term perspective, the Fed will enter the interest rate reduction cycle for several years in the future, and the high interest rate of US bonds will have a large downside in the future. From a long-term perspective, due to distrust of the sovereign currency of the US dollar, central banks around the world systematically increase their holdings of gold, which will drive the upward trend of gold prices.

Long and short period resonance, the future gold market is still expected.

[investment at the right time]

Since the gold price in the afternoon is expected, it will be a good choice to vote for gold. You know, gold is the only legal and compliant global allocation asset that most people in China have access to.

In addition to buying physical gold, a more convenient way to invest in gold is to use ETF for layout. For example, the latest scale of gold ETF Huaxia (518850) is over 400 million yuan, with good liquidity, and it has recorded nearly 50% return performance in the past three years, which deserves special attention.

Of course, participating in the gold market can also focus on outstanding A-share gold listed companies.

Specifically, the middle and upper reaches of the gold industry chain are mainly engaged in gold mining and smelting, with Zijin Mining and Shandong Gold as the leading companies, while the downstream is mainly engaged in the production and sales of gold jewelry, with Lao Fengxiang and Zhou Dasheng as the leading companies.

The leading enterprises in the upstream resources are relatively more profitable, especially Zijin Mining, which has a market value of over 440 billion. Its gross profit margin increased from 8.5% in 2015 to 15.8% in 2023, and its net interest rate increased from 1.8% in the same period to 9%.

Zijin Mining’s gold business scale is undoubtedly the largest in China. In terms of reserves, it will reach 1,191 tons in 2022 (gold resources will reach 3,117 tons), far exceeding the 507 tons and 417 tons of Zhongjin Gold and Shandong Gold. In addition to the gold business, Zijin Mining also mines non-ferrous metals such as copper and zinc, and its output ranks among the top in the world.

These businesses have experienced explosive growth in the past few years. From 2005 to 2023, the revenue expanded from 3.07 billion yuan to 293.4 billion yuan, with a compound annual growth rate of 29%. The net profit of returning to the mother increased from 700 million yuan to 21.1 billion yuan, with a compound annual growth rate of 21%.

One of the core competitiveness driving the continuous growth of performance stems from low cost. On the one hand, Zijin Mining has mining technology that its peers don’t have, or can’t reach, to realize the benefit of mining low-grade mines. On the other hand, Zijin Mining is good at using the cycle and purchasing mineral resources at low prices against the trend.

In addition, Zhongjin Gold and Shandong Gold are not bad in operation, but their cyclical properties are stronger than Zijin Mining, and their share prices generally fluctuate with the gold price.

Lao Fengxiang, the core leader in the downstream of the gold industry chain, is also a super bull stock. Although the level of gross profit and net profit is very low, which is not much different from that of most manufacturing companies, fortunately, the business scale continues to expand, which also drives its profits to continue to grow.

Lao Fengxiang’s good growth stems from the bonus of China’s gold jewelry industry. According to Euromonitor, the market size of the industry was 815.9 billion yuan at the end of 2022, and it will reach 942.9 billion yuan in 2025, with a compound annual growth rate of 7.8%. In addition, from the perspective of per capita jewelry consumption, China’s jewelry consumption is US$ 82, which is lower than US$ 693 in Hongkong, China, US$ 309 in Singapore and US$ 250, and there is still much room for growth in the future.

In China’s jewelry market, the consumption of gold products is significantly higher, accounting for 58.3% in 2021 and above 60% in many years. In the global market, the largest market segment is diamond jewelry, accounting for 47%, followed by gold, accounting for 42%. It can be seen that the leading enterprises specializing in gold jewelry in China will benefit more.

In short, from the historical dimension and driving logic, this round of gold bull market may be far from complete. In this uncertain era, the allocation of gold-related assets should be a relatively certain choice.

three three

Sichuan is spicy and addictive. Hot and sour powder, saliva chicken, spicy chicken pot, cold pot string … Red spicy oil, fragrant pepper, eat to the scalp sour, sweating, shaped like a taste purgatory trip, but the aftertaste is getting deeper and longer, and it will become addictive after a long time. However, the food in this place is so brilliant that 1,000 Chengdu people may have 1,000 small shops they like.

Sichuan is spicy, fragrant and hemp, and saliva is secreted at a glance. The graphs in this paper are all three graphs.

An hour in the morning is worth two in the evening

No matter how famous the hot pot in Shudu is, you can’t eat it early in the morning. Everyone in the land of abundance is very comfortable, sleeping until they wake up naturally, hungry for the first meal, where to go and what to eat? Go to a fat sausage shop with heavy taste, eat a bowl of bean soup rice with pure pie, and the old school will come to a bowl of red oil to copy their hands. After eating and drinking enough, they are full of vitality, so they can set off for the teahouse.

Pork intestines powder+pot helmet is my favorite breakfast. Pork intestines powder must be white and tender, and the powder is strong. The intestines should be washed clean without peculiar smell, simmered slowly with a little chewiness, red oil slipped and stained a little, and some soup should be hooked in the bend to make people enjoy themselves.

The powder should be high-quality sweet potato powder, and it is best to make it by hand, so that the taste is strong. The seasoning should be enough, and the sauce should not be vague. It must be aged Pixian bean paste, and the fragrance is layered. It is absolutely comfortable to eat in such a bowl. Another crispy pot helmet, hand-made noodles, strong fragrance, fresher soaking, is simply authentic civilian food.

Pork rolls with pot helmet.

People who like the large intestine are regarded as treasures. No matter at noon for breakfast, when you enter the fat sausage shop, braised sausage head and mixed sausage head are not to be missed. The sausage head tastes the most refreshing, tender, thick and chewy. Authentic stores turn the whole piece over and wash it with alum. When it is finished, cut it into pieces to taste before serving, so that the delicious food is firmly sealed and blooms before serving. The intestines are fat and heavy, and it is even thicker when soaked in red oil peppers. With fresh and tender cress, the fresh and spicy fragrance makes the tongue unable to find the north for a while.

Everyone who will order will have a sausage head.

In Chengdu breakfast, only miscellaneous sauce noodles can compete with pork intestines powder.

A bowl of miscellaneous sauce noodles with red oil begins a day full of vitality.

Miscellaneous sauce noodles are the most popular in small noodles in the morning. Knowledgeable families must cut alkaline noodles with fresh water, commonly known as cudgel noodles, which have a yellowish surface and taste strong. The miscellaneous sauce for mixing noodles is ironclad sesame sauce, Hanyuan pepper noodles, pork minced meat and Chili oil, plus some sugar, garlic paste, soy sauce and the like. When you smell it in the morning, you will be full of saliva, and the dishes are green vegetables in winter and cowpeas in summer.

When it is hot, cold noodles with shredded chicken is the savior of appetite. You don’t need to see the fire, the store can mix a bowl in 5 seconds. The white jade congealed face, glittering and translucent spicy oil, and shredded chicken without oil flowers are chilled and refreshed. Popular stores use chicken leg meat, and then use chicken soup with noodles. No matter how hot it is, diners will continue.

Cold noodles with shredded chicken is the savior of summer.

Baijia gaoji pork intestines rice rolls

Baijia Town, South Third Ring Road, Shuangliu County

Ganji rice rolls

No.26-32 Xiaojiahe Middle Street, Wuhou District, Jiangyou Pork Intestines, No.18 Ma ‘an North Road, jinniu district

Noodles

9-21 Ximianqiao Street, Wuhou District

Liuji Lupin Branch (Cold Noodles with Chicken)

No.192, Randeng Temple North Street, Wuhou District

King of Sichuan cuisine twice-cooked pork

Apart from hot pot, there are four most popular Sichuan dishes in the world, namely, Sichuan style pork, diced chicken with kung pao, shredded pork with fish sauce and Mapo tofu. These four sweet, sour, spicy and fragrant dishes are balanced and palatable, which makes Sichuan cuisine invincible. But the dish that can be regarded as the "king of Sichuan cuisine" is probably Sichuan style pork.

Authentic Sichuan-style stew pork must use "two knives".

Sichuan people have always loved Sichuan pork. However, I’m afraid many Sichuanese didn’t expect that the Sichuan-style pork they ate was not authentic. From the selection of materials, ingredients to the final side dishes, it is actually very particular to fry a plate of authentic Sichuan style pork.

The most authentic Sichuan-style pork comes with skin and hind legs, which is called "Erdao" locally. The second knife meat has regular shape, reasonable fat and thin collocation, and heavy meat flavor. Add aniseed, pepper and cooking wine and boil it until it is raw. Add oil to the wok and burn the meat. The cooked meat looks like a lamp nest, then add wine and salt. After a little cooking, add bean paste and then sweet noodle sauce. Yes, you certainly didn’t expect that authentic Sichuan style pork and sweet noodle sauce are also essential, and the rich sauce flavor comes from this.

The side dishes of Sichuan style pork are also exquisite, and they must be garlic seedlings. Garlic seedlings are particularly important for Sichuan style pork, which not only smells fragrant, but also leaves of garlic seedlings can fully absorb the fat of meat, and it is also a rare delicacy. Stir-fried pork with garlic sprouts and special soy sauce until it is cut off. Only after turning off the fire can vegetables have a unique fresh feeling, and sometimes they are more popular than the meat on the plate.

Many fly restaurants in Chengdu cook Sichuan style pork, but when it comes to exquisite and clean materials, it will be the most popular one to turn around. As one of the longest restaurants in Chengdu at present, what it advocates here is the comfortable life in old Sichuan. In the old house with cornices and arches at the entrance of Lotus Lane, there are several thick wooden tables and bamboo chairs in the small courtyard of blue brick, which are the seats that guests scramble to reserve every day.

Zhuanzhuanhui (Liangui Branch)

No.25 Lianhua South Road (near Longzhou Road Police Station); 028-84511000

Chengdu Midnight Food Store

No matter how late the night is in Chengdu, there is also a snack bar with a light on and a steaming pot boiling, which attracts hungry passers-by with delicious meat. On a cold winter night, there is nothing warmer than a bowl of soup.

The hoof flower soup has warmed many wet winters in Chengdu.

Age loves hoof flower soup. A bowl of snow-white, rich snow bean and hoof flower soup. The white soup has a thick bean flavor, and there is no oil slick. When swallowed, it seems that there is a thin layer of gum condensed in the mouth, which is warm and smooth. The store keeps the skin of pig’s trotters white and shiny, so delicate that you can’t see the pores. When chopsticks touch them, they will be soft and detached from the bones. They will be dipped in soy sauce, vinegar, sesame oil, pepper powder, chopped pepper and chopped green onion, which will drive away the cold in one bite and cheer up in two. If you are tired of eating the taste of snow beans, kelp and lotus root will have another flavor.

Another late-night snack that is quite chivalrous is black chicken feet.

The huge black chicken feet, which are longer than the palm of a man’s hand, have traveled all over the restaurants in Chengdu, large and small. Without it, they can’t keep up with the trend and play Freestyle. Black chicken feet and ordinary chicken feet are not the same concept at all. The big black chicken from Zigong has an upgraded flavor, and the skin on its legs is smooth and tender. The chicken feet are crisp and chewy, and the soup is rich and the gum is rich. 10 yuan is one. After eating it, I looked up and saw that everyone in the room was eating it.

Liaolaoma pettitoes (Dongchenggen branch)

No.7-11, Dongcheng Gennan Street, Qingyang District; 028-86152948

Wanlai

No.18, Zhaixiangzi, Qingyang District; 15928117959

Black chicken feet longer than human palms.

For more frontier travel content and interaction, please pay attention to this column WeChat WeChat official account Travelplus_China, or search for "private geography".

　　[PConline sea election shopping guide]Since the beginning of this year, major manufacturers have launched new speaker products with Bluetooth function. Perhaps due to the hot sales of smart phones, the Bluetooth audio market is also unprecedentedly hot, and some insiders even think that this year is the first year of Bluetooth audio. In this issue of China Good Speaker, I recommend several portable Bluetooth stereos for you. I hope you like them.

Recommended products: DOSS New achimo
Reference quotation: 399 yuan

DOSS New achimo　　picture　　evaluating　　forum　　quote　　Net purchase price

　　DOSS New achimo Bluetooth has won the recognition of users for its compact and beautiful appearance, humanized design and excellent sound quality since its release.

DOSS New achimo

　　DS-1168 box is cylindrical in design, which not only meets the needs of audio performance, but also gives people a better impression and attracts more people’s attention. In addition to the speaker body, DS-1168 also designed a flying saucer-shaped base for it. When they are combined, the appearance is full of science and technology, and the base can provide more lasting power for the speaker.

DOSS New achimo

　　DOSS New achimo integrates the technical achievements of DOSS Audio R&D Center for many years, and adopts advanced NdFeB speakers, Air Bass pneumatic booster vibrating basin technology, and the perfect balance of high, medium and low frequencies, which ensures the sound quality.

DOSS New achimo

　　Although it is the most authentic Bluetooth speaker, achimo can also connect computers and other devices as audio sources, and input audio signals through the LINE IN interface, which is convenient for people who often use notebooks and have requirements for notebook sound effects. However, the small interface can well expand the audio function.

　　Editor’s comment:No matter from the market performance or the product itself, DOSS New achimo is definitely one of the most successful Bluetooth stereos this year. Its humanized intelligent "human voice" prompt function leads the whole industry, and with the design of its own mobile power supply, the new achimo is definitely a Bluetooth stereo that can’t be missed.

Recommended product: Shengbao T2
Reference quotation: 188 yuan

Shengbao T2 Athena　　picture　　evaluating　　forum　　quote　

　　Shengbao T2 Athena Bluetooth Audio is a Bluetooth portable audio newly launched by Shengbao, which has been liked by many users as soon as it went on the market and received rave reviews from the industry. This sacred treasure T2 Athena, like its name, is elegant and generous, small and portable, and exquisite in workmanship, which will definitely make you fondle it.

Shengbao T2

　　Shengbao Athena T2 Bluetooth speaker has a variety of colors to choose from, such as black, red and silver. The design of this audio is round and compact, which is equivalent to the size of small canned Wangwang milk. It is basically difficult to find a Bluetooth audio product smaller than it, which is very light and easy to carry.

Shengbao T2

　　T2 audio adopts a cylindrical appearance, with a flat bottom and two foot pads. The foot pads have strong adsorption to glass, which is convenient for audio placement. Most of the accessories of Shengbao T2 speaker are made of frosted metal, and only the key part is made of a piece of plastic, so the overall weight is good and the workmanship is solid.

Shengbao T2

　　Through the white metal net cover, we can see that the angle between the speaker unit and the horizontal desktop is about 45 degrees. This kind of inclined speaker is still effective for improving the sound effect of near-field listening.

　　Editor’s comment:Shengbao T2 is compact in design, exquisite in production, flexible in color matching and very fashionable. With a universal Bluetooth wireless interface, it is very convenient to connect various Bluetooth playback devices for music playback. The most innovative thing is to support hands-free calls on mobile phones, and its price of 188 yuan is very competitive in the market.

Recommended products: DoubleLe HT2009BABY
Reference quotation: 258 yuan

DoubleLe HT2009BABY Bluetooth Hands-Free Speaker　　picture　　evaluating　　forum　　quote

　　Doublele HT2009BABY Bluetooth hands-free speaker is a hands-free speaker suitable for computers, mobile phones, tablet computers and other devices with Bluetooth connection. It is small in size and can be held in one hand. The body is made of metal material, which is very classy and textured.

Beijiale HT2009BABY

　　Doubletree HT2009BABY Bluetooth speakerphone has 5 colors to choose from, including pink, space blue, ruby red, pearl silver and all black.

Beijiale HT2009BABY

　　The power switch of Dole HT2009BABY Bluetooth hands-free speaker is designed at the bottom, so that it will not be turned off due to wrong pressing of other buttons or collision. The function keys of the sound box are set on the bottom side, including volume increase key, increase and decrease key and a multi-function key (play pause key/answer key).

Beijiale HT2009BABY

　　The other bottom side of Doubletree HT2009BABY is the audio input port and USB hole, which can be played by wired input besides wireless. The bass unit of the speaker is designed at the bottom, and the heavy bass effect is achieved by using the contact surface resonance.

　　Editor’s comment:Doublele HT2009BABY has a good sound quality, and with its compact and portable figure and Bluetooth connection function, it can be said to be very practical. Friends who like it may wish to pay more attention to this product.

Recommended products: Shengpaisi Cool Listening C3BR
Reference quotation: 198 yuan

Sound, think and listen to C3BR.　　picture　　evaluating　　forum　　quote

　　The C3BR speaker is only the size of a fist, but it is very powerful. It has the functions of external amplification, call, Bluetooth and so on. It is definitely an indispensable thing for hipsters and is also very useful for drivers!

Sound, think and listen to C3BR.

　　Sound Paisi Cool Listening C3BR Listening is compact, novel in design, like tennis, and can be put in your pocket and schoolbag, with strong portability, so you can take it wherever you go! Adopt ABS special plastic, which is earthquake-resistant and fall-resistant, five-layer paint technology, wear-resistant and colorfast, and the outer layer uses thread design, which is anti-slip and fashionable, and can also compress and stretch. It can be said that concentration is the essence, which is vividly reflected in this product!

Sound, think and listen to C3BR.

　　Sound Paisi Cool Listening C3BR Listening adopts a special telescopic cavity, which can get the best foreign sound quality when playing music, especially the bass is powerful after marriage, and the effect is remarkable. The speaker is equipped with USB interface, 3.5mm standard interface, etc., which can realize the connection and charging with mobile phones, notebooks and other computers. The best thing is, of course, this speaker also has Bluetooth module, which has strong anti-interference ability, rapid pairing and stable signal. As long as Bluetooth is turned on, it can be wirelessly transmitted with other devices, getting rid of the shackles of transmission lines.

Sound, think and listen to C3BR.

　　It is worth mentioning that the C3BR also supports voice calls. After connecting Bluetooth, you can answer the phone and hang up through the control keys on the speaker, which is especially convenient for drivers. The battery life of this speaker is also good, and it can be used continuously for about 6 hours at a time.

　　Editor’s comment:Sound Paisi Cool Listening C3BR is compact and powerful. It can amplify, talk, listen and speak externally. With the addition of Bluetooth function, it is convenient and practical. Friends who plan to buy portable Bluetooth audio may wish to pay attention to it.

PConline summary:

　　Judging from the current situation, portable Bluetooth stereos are small and portable, supporting Bluetooth and voice calls, and some products even add mobile power or even intelligent voice prompt design, which makes the selling point of products more prominent. At the same time, we found that the established speakers such as rambler and Sannuo have not set foot in the field of portable Bluetooth audio, but prefer to integrate Bluetooth functions on the basis of existing products. On the contrary, many micro-audio manufacturers are in the middle of this "gold mine" and are planning to enter the market as quickly as possible to seize the share. In the near future, this market will definitely become more lively and chaotic. We hope that the portable Bluetooth audio market will not repeat the micro-audio.