标签归档 上海龙凤千花1314

Developing Digital Economy and Lighting the Road to Innovation (Belt and Road, Think Tank Observation)

  In March 2016, the Laos-1 satellite successfully launched in xichang satellite launch center, China was delivered in orbit. This is the first commercial satellite exported by China to ASEAN countries. The picture shows the panorama of Laos No.1 communication satellite ground station located in Vientiane, the capital of Laos. People’s vision

  Data source: Ali Research Institute, National Bureau of Statistics, General Administration of Customs, AliExpress, Tianmao International and Global Purchase Data Analysis.

  Wan Li Silk Road, connecting the East and the West, spans the past and the present. The Chairman of the Supreme Leader proposed to build the Belt and Road into a road of peace, prosperity, openness, innovation and civilization. Among them, the significance of innovation lies in insisting on innovation-driven development and advocating green, low-carbon, circular and sustainable production and lifestyle. The development of the digital economy will promote the social development of countries related to the Belt and Road Initiative to be more efficient, intelligent and humanized, and will certainly create new opportunities for development, seek new impetus for development, expand new space for development, and benefit the world and the people.

  Mobile Internet — —

  Digital economy enters the era of big data.

  Based on the core indicators of digital economy development, it can be found that the countries along the "Belt and Road" are obviously unbalanced in the development of digital economy. Among them, there are countries like Israel, Estonia and Singapore that are at the forefront of the world, and many countries are still underdeveloped.

  In recent ten years, some countries, including China, India, United Arab Emirates, Israel and Poland, have made remarkable achievements in digital infrastructure, e-commerce, network governance and other aspects by formulating far-sighted digital economy development strategies, and their growth rate has obviously exceeded that of developed countries, showing great potential and vitality.

  Mobile broadband is the foundation of economic activities such as Internet of Things, autonomous driving and intelligent manufacturing, and represents the development of a new round of intelligent infrastructure of digital economy. Its penetration level can best reflect the digital economic foundation of an economy. In recent years, the mobile Internet has empowered individual consumers, made globalization and large-scale collaboration possible, and directly promoted the so-called "big data torrent". The development of digital economy has entered the era of big data. Globally, this indicator has reached nearly 50% in 2016 from less than 20% in 2011, and the development speed is amazing.

  The widespread penetration of mobile Internet has fundamentally changed the business model of enterprises and the way of personal life and consumption. The most striking things are the rise of sharing economy based on extensive participation of users, diversification of working scenes and intelligent equipment, which have driven a new round of blowout development of e-commerce in various countries. This is reflected in the e-commerce development indicators of countries along the "Belt and Road". The index of "B2C e-commerce development" constructed by the United Nations Conference on Trade and Development is composed of the Internet user penetration rate, credit card payment share, logistics level and security server, which reflect the convenience of developing consumer-side e-commerce. From this indicator value, the national average along the Belt and Road Initiative is 49.0%, slightly higher than the world average of 47.2%.

  Combined with the growth rate index of digital economy in recent years, we can find the unbalanced characteristics among countries along the Belt and Road. Some countries with relatively good foundations, such as Malaysia, Romania and China, have bright growth data, and the growth rate of digital economy is much higher than the global average. It can be expected that these countries will stand out and rise to a higher level of development in the next five years. However, in other countries with weak foundations, the growth level is almost at a standstill, which deserves attention.

  Chinese enterprises go to sea — —

  Share the development opportunity in the digital age

  In 2016, the project and transaction volume of seven core infrastructure areas (public utilities, transportation, telecommunications, society, construction, energy and environment) in countries along the Belt and Road Initiative was about 494 billion US dollars. In the first quarter of 2017 alone, China enterprises increased their non-financial direct investment in countries related to the Belt and Road Initiative by a total of US$ 2.95 billion, accounting for 14.4% of the total foreign investment in the same period, up 5.4 percentage points from the same period last year. The Belt and Road Initiative has become the focus of China enterprises’ overseas investment.

  In addition to the cooperation and co-construction of infrastructure, science and technology, commerce and culture are also the highlights of the "Belt and Road Initiative". With the rapid development of digital economy in China, China Internet companies with global vision and excellent strength have also shown a strong desire to "sail out to sea" in generate.

  From the perspective of ability, the fierce domestic market competition environment and perfect infrastructure have forged a number of Internet enterprises with strong competitiveness. Its operation and innovation ability has gone beyond the simple imitation stage, and many local innovative products and services with international competitiveness have emerged, such as super program, mobile payment, bike-sharing and so on.

  From the perspective of willingness, the competition in the domestic market is becoming increasingly fierce, and expanding the international market has become an inevitable choice for Internet companies in China. The "One Belt, One Road" initiative has pointed out the direction for China Internet companies to build and share the digital economy dividend on a global scale with the advantages of local innovation. Geographical and cultural proximity also makes the countries along the Belt and Road become the yearning places for Internet companies in China.

  It should be noted that countries along the "Belt and Road" have a large number of factor endowments that have not been fully optimized, and they urgently need Internet dividends to improve the overall efficiency of resource allocation, increase employment through large-scale investment, and improve people’s living standards.

  Alibaba, Huawei, Meitu, etc. are quite representative enterprises among them.

  Take Alibaba as an example. Countries along the Belt and Road have become the focus of its strategic development. The company plans to establish several digital free trade zones to create a global "Digital Silk Road". In order to achieve this goal, Alibaba is committed to transplanting the mature e-commerce environment in China to relevant countries from e-commerce, payment means and logistics.

  In 2014, Alibaba invested US$ 249 million in Singapore Post. Cainiao Logistics has deployed 17 overseas warehouses in countries along the Belt and Road. In 2016, it acquired Lazada, the largest e-commerce company in Southeast Asia, for US$ 1 billion, setting a single record for Alibaba’s overseas investment. Ant Financial invested in Ascend Money, a subsidiary of Thailand Zhengda Group, and also invested in the Indian version of "Alipay" Paytm, with a user scale of over 215 million.

  With the help of the huge users and related data brought by e-commerce, Alibaba is also actively building data centers in Hongkong, Singapore, the Middle East and Europe through Alibaba Cloud, and setting up 14 regional nodes around the world. The self-developed large-scale computing operating system Feitian also goes out to sea together, connecting millions of servers all over the world into a supercomputer, and providing computing power for the society in the form of online public services.

  Alibaba is just a microcosm of China enterprises’ deep participation in digital economy construction in countries along the Belt and Road Initiative. A large number of China enterprises such as Huawei, ZTE, Fiberhome, Xiaomi and Meitu have come one after another.

  Up to now, Huawei’s overseas revenue accounts for more than 70%, and ZTE’s overseas revenue accounts for 50%. The global competitiveness of China telecom system equipment manufacturers has provided an important guarantee for the communication infrastructure construction of countries along the Belt and Road.

  Take Huawei as an example. "Six or seven years ago, no one in Bulgaria knew about Huawei. Now it has become a household name, not only because of the popularity of Huawei mobile phones, but also because the network equipment and technology brought by Huawei have changed people’s lives." Aurelio Garic, senior account manager of Huawei Bulgarian Company, said in an interview with the media. This is not uncommon in many countries along the Belt and Road. China enterprises are doing their best to help promote the development and upgrading of local industries, and the business card of "China Zhizao" is getting louder and louder.

  Intelligent terminal is also a major advantage of China Zhizao. Although Apple and Samsung still lead the global market, their market share adds up to only 1/3. In 2016, China enterprises accounted for more than 50% of global smartphone shipments. Among the top ten mobile phone companies in the world, China brand has occupied seven seats.

  With the popularity of smart terminals, mobile phone applications have also become a new emerging field for Internet companies in China. Taking Meitu Xiu Xiu as an example, the self-portrait application "Beauty Camera" specially created for Indian users ranked first in the most popular application field of Google App Market in India in 2016. At the beginning of 2017, Meitu Xiu Xiu became popular overseas because of hand-painted selfies, ranking first in the total list of free mobile phone applications in eight countries and regions, including Russia, and ranking among the top ten in the total list of free mobile phone applications in 21 countries and regions around the world.

  Data show that in 2016, China’s software industry exported 51.9 billion US dollars, up 5.8% year-on-year, and the growth rate was 4.1 percentage points higher than that in 2015. Internet technology enterprises in China, such as Zhuyun, Netlong, DJI Innovation and Daily Yoga, have all benefited from this.

  The "going out to sea" practice of Internet enterprises in China has brought the latest technological innovation and model application to countries along the Belt and Road, and formed a good interaction with local governments, enterprises and people, which has contributed to the development of digital economy and the improvement of economic growth model in countries along the route. This is also the best practice of discussing, building and sharing ideas.

  Digital change — —

  New opportunities to bridge the digital divide

  At present, countries along the "Belt and Road" are struggling to develop, and the ongoing digital economic transformation is a development opportunity that cannot be missed. Developed countries in Europe and America have successively formulated their own national digital strategies, which provide many experiences for the development of digital economy. Some international organizations, such as OECD and World Economic Forum, attach great importance to the agenda of digital economy and publish global development reports in this field every year.

  Facing the reality, countries along the Belt and Road face multiple challenges in the development of digital economy, among which the biggest challenge can be summed up as how to create an environment conducive to digital innovation and entrepreneurship, thus bridging the gap with developed countries.

  Increase budget, encourage competition and expand data sources. The government needs to increase the proportion of digital budget, encourage competition in the information and communication industry and expand the available data sources by strengthening investment in digitalization and various related infrastructure. Some countries with insufficient financial resources can use the co-construction platform under the framework of the "Belt and Road Initiative" to accelerate their development through cooperation with regional institutions such as the Asian Infrastructure Investment Bank.

  Regional cooperation, encouraging investment and industrial integration. Countries along the "Belt and Road" should further strengthen regional cooperation, open up on an equal footing, encourage foreign investment and the development of domestic small and medium-sized digital technology enterprises, and integrate into the global industrial chain. Encourage foreign-funded enterprises to invest digitally, whether focusing on digital infrastructure or digital business applications. By integrating into the global industrial chain, domestic enterprises can transfer the technological achievements of advanced countries and enhance their global competitiveness. In this regard, the government can support it through tax relief for research and development, export tax rebate and accelerated depreciation.

  Digital transformation, model innovation, cross-border integration. Countries along the "Belt and Road" should encourage traditional enterprises to invest in the commercialization of digital technology, especially in the digital transformation of traditional industries, and quickly promote business model innovation, cross-border integration and digital economy development with wide application. In recent years, many emerging market countries have achieved rapid development by encouraging local enterprises to learn from and absorb foreign mature digital business models, and on this basis, carry out localized innovation. Driving the introduction and development of technology by application is an important way for developing countries to catch up.

  People-oriented, digital education, improve literacy. Digital talents are the biggest source of competitiveness for a country. It is an extremely urgent task for countries along the Belt and Road to enhance the digital literacy of the whole people by strengthening digital education. In order to keep up with the times, it is necessary to integrate digital education into primary and secondary education as soon as possible, so that students can get in touch with computers and the Internet earlier to meet the challenges of the future society. For adults, the government should encourage the development of digital training institutions and encourage enterprises to carry out on-the-job training of digital talents.

  The "One Belt, One Road" initiative is ambitious and ambitious. It will establish a brand-new cooperative relationship and sharing platform for relevant countries, and provide a historic opportunity for countries to meet the challenges of the digital age, promote the development of digital economy innovation, and achieve win-win and mutual benefit. (The authors are all from Shanghai Academy of Social Sciences, Wang Zhen, Zhao Fuchun and Wang Yibo)

Behind Changan Qiyuan E07 is Unicom’s C2M overall solution innovation

Recently, the world’s first smart variable new car based on the SDA platform, Changan Qiyuan E07, was unveiled at the Changan Automotive Digital Intelligence Factory. This digital intelligence factory focuses on the production of intelligent networked new energy vehicles and is the unveiling unit of the "National Intelligent Manufacturing Pilot Demonstration Factory".

"Black Light Factory" is the most concrete description of advanced intelligent manufacturing production spaces such as Changan Automobile Digital Intelligence Factory. Tens of thousands of intelligent equipment perform their duties in the factory, more than 800 robots are lined up, more than 500 AGVs shuttle between them, and more than 100 fully intelligent AGV islands replace the original fixed floor chain transmission, which greatly reduces manual participation and increases production efficiency by 20%.

The reporter also learned that the Changan Automobile Digital Intelligence Factory has adopted an innovative software automatic packaging and testing process, which has greatly reduced the data filling time and improved the efficiency of cloud-based electrical inspection by nearly 100%. The AI manufacturing database has become the first factory in the industry to generate more than 28T of manufacturing data per year.

The first 100% to the machine station, the first 100% to the station, the first independent controllable and 5G-compatible industrial control Internet of Things… The application of 5G technology in Changan Automotive Digital Intelligence Factory has set a number of industry firsts. "This is due to China Unicom’s Legion innovation model." Zhou Hua, general manager of China Unicom’s 5G Fusion Innovation Center and Automobile Manufacturing Legion, which undertakes the Changan Automotive Digital Intelligence Factory solution, said.

Focusing on the C2M model

Meet personalized market demand

Data standards are not uniform, it is difficult to share and integrate, limiting real-time information transmission and business collaboration, business complexity lacks unified management, business collaborative efficiency is low, and it cannot adapt to new market demands… In recent years, in the face of the new consumption patterns of "customer engagement manufacturing", "user-defined car" and "user experience car building", the lack of interoperability between the original systems of traditional automobile OEMs, inconsistent standards, and difficult data sharing have become increasingly prominent.

In response to this problem, after nearly two years of practice and polishing, China Unicom Automobile Manufacturing Corps has given its own answer. On July 19, the Shanghai World Expo Center officially released the China Unicom Automotive Industry C2M Overall Solution (hereinafter referred to as the "Solution") at the "Innovation Achievement Release and Partner Conference" jointly organized by China Unicom Research Institute and China Unicom Automobile Manufacturing Corps.

C2M stands for "Consumers participate in manufacturing, organize production according to orders, and provide delivery response and delivery control according to orders". The core of the C2M solution is the Qingtian unified industrial control platform, which provides data standards, application standards, and information interaction standards, and integrates basic applications such as planning, execution, logistics, and quality. Develop enhanced applications that are compatible with C2M, such as logistics enhancements such as warehouse management, manufacturing execution enhancements such as order insertion management, and program enhancements such as dynamic sequencing, so as to achieve data sharing, instruction accessibility, and business implementation coordination, and ultimately realize delivery visibility.

It is understood that the program is based on the practice of multiple projects such as Changan Automobile, relying on advanced Internet of Things and data modeling technologies to provide enterprises with fully connected visual management to ensure the transparency of the whole process, so as to improve enterprise management efficiency and decision-making ability, and achieve the purpose of reducing costs and increasing efficiency.

Leverage the advantages of Unicom integration

Supporting C2M solutions

China Unicom’s C2M solution involves multiple levels of progressive change such as 5G network replacement, edge application reconstruction, data empowerment, and platform reconstruction. The Legion innovation model of Unicom’s integrated capability aggregation plays a crucial role in it.

The Automobile Manufacturing Corps is one of the first vertical innovation units established by China Unicom for the automobile manufacturing industry. It integrates the group’s technological accumulation and innovation resources, carries out technological innovation for the automobile manufacturing industry, overcomes the technical difficulties in the industry, and practices the responsibility of the central enterprise to serve the national strategy.

The Automobile Manufacturing Corps gives full play to Unicom’s cloud network resources and technological endowments, provides 5G-based "cloud network edge" new infrastructure, and supports "visual, manageable, dimensional, and configurable" platform support. It solves the problems of fragmentation, black box, and inefficiency in the original infrastructure, and meets the industrial production requirements such as data not coming out of the network, uninterrupted business, and unified control plane, providing reliable and credible network protection for C2M.

At the same time, the Automobile Manufacturing Corps provides standardized and process-oriented business modeling around business scenarios, ensuring consistent modeling between different business units, providing business-level API calls for upper-level applications, enabling business connection, service sharing, and capability precipitation. It can quickly track positioning and complete iterations when requirements change, laying the foundation for C2M to quickly respond to business requirements.

Based on the accumulation of China Unicom technology, combined with the characteristics of the automotive industry, the Automobile Manufacturing Corps has created a data management system, providing data collection, storage, analysis, and governance capabilities, integrating global data, breaking down barriers, forming unified sources and unified standards of data and services, and providing high-quality data protection for C2M.

Faced with the "chimney-like" problem in the traditional production and manufacturing process, the Automobile Manufacturing Corps combines industrial control requirements, supports data collection and control command integration by innovatively, and uses its pioneering "factory-workshop-production-station-station" five-level space modeling technology to simplify the architecture, support business two-way forwarding, instructions can go directly to the station and other minimum execution units, and the performance exceeds 30% of congeneric products, providing C2M with the ability to direct instructions.

Promote industrial chain collaboration

Empowering traditional manufacturing to digitally upgrade

The C2M solution not only reshaped the production scene in the factory, but also strengthened the linkage and collaboration outside the factory, promoting the quality of the industrial chain collaboration to a new level.

The solution can not only achieve data sharing and real-time updates with other information systems such as supply chain management systems, but also enable upstream and downstream enterprises in the industrial chain to understand each other’s production status and demand information in real time, break the information island, improve information transparency, form more accurate co-frequency collaboration, and improve the collaborative efficiency of the supply chain.

The C2M solution can also integrate multi-dimensional factors such as market demand, production capacity, material inventory, and material supply planning, and efficiently and reasonably arrange production plans. Under the premise of meeting the order delivery time, it takes into account levelized production, which is not only conducive to the stability of the factory production rhythm, but also conducive to maintaining the stability of the supply chain.

In the face of emergencies, C2M solutions can quickly simulate and analyze, evaluate risks, and this ability to accurately calculate and respond quickly can assist factories in making overall plans, making quick decisions, and minimizing impact. By collecting and analyzing the big data generated by the interaction between the production scheduling system and the supply chain management system, enterprises can continuously optimize the supply chain layout, improve the flexibility and adaptability of the supply chain, and help upstream and downstream enterprises in the industrial chain to better cope with market changes and challenges.

This time, the C2M overall solution released by China Unicom Automobile Manufacturing Corps takes the order as the main line and takes the delivery as the goal, which can quickly realize the delivery response and delivery control, and newly defines the new standard of mixed-line production and flexible production. It will inject new impetus into the digital transformation of traditional industries, which is not only suitable for the construction of new factories, but also for the transformation of old factories.

Old Hong Kong stars cluster together in Tik Tok, which is a bit of a painting style. ……

  The writer of this article is @Noodles of Xiaowan family.

  The shadow bugs in the world all begin with movies that eat away at the world.

  No star can guarantee that he will always be popular.

  Those who became famous overnight, or those who worked hard,The star aura will fade sooner or later..

  However, the fading of the aura mentioned here actually mainly means that the film and television works are less or relegated to a secondary role, which does not mean that they are really "out of breath".

  Carman Lee and Benny Chan’s "Embarrassing Dance"

  For example, outside the big screen and screen, on the short video platform.You can often brush some familiar faces.Then click on their homepage and find that the number of fans is millions, which is not as lonely as you think.

  Indeed,Short videos are becoming a place for the older generation of stars to gather popularity again.Sometimes a video clip and a beauty mix can make them turn red quickly.

  For example, the 1.8 billion broadcast shared before, this old film unexpectedly shot to fame in Tik Tok, which made Zhu Shimao fire again.

  Today, we choose a few of them.LaogangxingSee what their styles are in Tik Tok.

  First of all, look at the first place, the eternal "Zhan Zhao" in the hearts of countless audiences.Kenny Ho.

  Kenny Ho in his thirties.

  Handsome Kenny Ho relies onMan called hero.The Chinese heroes in the movie andBao Qingtian.Zhan Zhao in the series has become a generation of heroes in the hearts of mainland audiences, and his "Zhan Zhao" has been irreplaceable for more than 20 years.

  Kenny Ho, 60 years old.

  Although he has already retired for many years, Kenny Ho insists on fitness all the year round, and he can’t see that he is already.61 years old"Old age".

  Most of the videos released by Kenny Ho on Tik Tok are also related tofitnessandScientific dietYes, there are a series of demonstrations of fat burning action, which is not difficult.

  Another immortal male god similar to Kenny Ho isThe Bund"Li Ding" in the movie.Ray Lui, this year65 years old, also often share a lot.Home fitness actionandHealth "tips".

  Donnie Yen, Carina Lau, Rosamund Kwan and other friends have all appeared in his small video, and Lv Liangwei also loves painting.Chinese paintingThe cover of his home page is a picture of a peacock he drew.

  After talking about the immortal male god, let’s look at the immortal goddess-"Little Dragon Girl"Carman Lee.

  Since her official comeback in 2014, Carman Lee has appeared more and more frequently on the online platform. She plays with Tik Tok with a young mind and often ranks in the forefront of the list of love DOU.

  In addition to continuing the "fairy" painting style, Carman Lee also likes hair.fitnessVideo.

  Last year, Xiaowan shared an article about the nine years when the little dragon girl disappeared. What did she experience? Why did the little dragon girl become a fitness expert? There are answers.

  Similar to Carman Lee is "Zhou Zhiruo" in the 1994 edition of "Eternal Dragon Slayer".Kathy CHAU; Chow Hoi Mei.

  Kathy CHAU was a great beauty in the 1980s and 1990s, and her Hong Kong beauty videos have been widely played in Tik Tok, bilibili.

  After the new millennium, she entered the mainland and appeared in many costume dramas, such as Legend of the Condor Heroes and Legend of Wu Mei Niang, while Kathy CHAU, who has reduced her performance in front of the stage in recent years, showed it to her heart’s content in Tik Tok.Enjoy the lazy attitude of life.

  Most of the videos sent are related tofood and clothingtravelpetAbout, the style of painting is both cute and funny. No wonder the personal label says "I’m Garfield, I love sleeping".

  A great beauty who also became popular as early as the 1980s.Irene WanThere is also a Tik Tok account.

  The goddess is 54 years old this year, and her appearance and figure are in good shape. However, the video is full of beautiful girlish style, which is relatively lacking in personal characteristics, so the number of fans is low.

  Deric WanIn those days, it was familiar to countless audiences.TVB hong kong drama spokespersonWhen he was young, he became famous for his high face value and his free control of positive and negative angles.

  However, due to the complicated love story and the complicated gossip, Deric Wan’s popularity after 2000 is no longer the same as before, and his TV series is also inferior to that of TVB, so he gradually became silent.

  Nowadays, uncle Deric Wan, who is over 50 years old, often.Bask in one’s daily life, especially the video of my daughter.

  After the starlight and the ups and downs of life,Return to and enjoy the mundane lifeActually, it is a good choice.

  This is also the same point of many old Hong Kong stars mentioned above, and it is also another support point for them to continue to gather popularity beyond their actor status (past classic roles and sentimental cards).

  After all, in the era of short video, everything is necessary.have/keep both feet on the ground.

  Note: Some pictures in this article are from Douban and the Internet. If there is any infringement, please contact us actively.

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  [Noodles previous articles]

  Click to read

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[US stocks in 2022 investment strategy]: Can the bull market of US stocks continue?

  Looking ahead at the end of 2021, the S&P 500 index has nearly doubled in the past three years, with an annualized rate of return of 27%. However, Deutsche Bank’s survey of more than 750 investors around the world shows that about 20% expect the S&P 500 index to have negative returns next year, with an average increase of only 4.2%.

  Can the bull market of US stocks continue, and what risks will it face? What kind of opportunities are there?

  US stocks as a whole: three elements or building a structural market

  1. Corporate profit growth slowed down.

  According to the Morgan Stanley report, in the first three quarters of this year, the earnings per share of S&P 500 companies increased by over 67%, far higher than the average of 6% from 2001 to 2020. UBS predicts that the profit growth rate of S&P 500 companies may significantly slow down to 10% in 2022.

  2. Tightening liquidity

  () It is believed that the most relaxed point of global liquidity has passed. With the beginning of Taper by the Federal Reserve and the marginal tightening by the central banks of other major overseas economies, global liquidity began to enter a tightening cycle.

  3. Valuation regression

  According to the analysis of CITIC Securities, after the completion of taper by the Federal Reserve, the dynamic PE of US stocks will gradually return from the current high of 21.4 times to the historical average of 18 times since 2015. It is expected that the US stock market will present a structural market next year.

  In the face of many challenges, we sorted out the views of investment banks and listed the US stock sector and its key words worthy of attention in 2022.

  New energy: the inflection point of new energy vehicles in the United States+the installed capacity of scenery has increased greatly

  On November 19th, the US House of Representatives passed the Biden administration’s $1.75 trillion stimulus bill, of which about $550 billion will be used in the new energy industry, and the tax credits in new energy vehicles, photovoltaic wind power and energy storage industries will be fully increased.

  CICC believes that the US new energy vehicle market has been in a "depression" in the global market for a long time due to the previous weak policies, few high-quality vehicles and weak industrial chain. The penetration rate of new energy vehicles in the United States from 1 to 1-3Q21 was only 3.7%, which was significantly lower than that in China and Europe (13.5% and 17.3%). However, with the continuous promotion and strengthening of the Biden administration’s new energy vehicle policy and the acceleration of the electrification transformation of local car companies, the development of new energy vehicles in the United States will usher in an inflection point.

  In terms of photovoltaic wind power, with the increasing momentum of energy transformation, the newly installed capacity of American scenery is expected to set a new record in 2022.

  According to the survey report of Standard & Poor’s Global Market Intelligence Company, it is estimated that 44GW of utility-scale photovoltaic projects will be put into operation in the United States in 2022, nearly twice the estimated new installed capacity of 23GW in 2021. At the same time, it is estimated that the newly installed capacity of wind power in the United States will reach 27GW in 2022, significantly exceeding the highest annual record of 16GW set in 2020.

  BlackRock pointed out that the world is currently transforming into a more sustainable aspect, ahead of schedule. The investment in sustainability has undergone a structural change, and related assets will highlight the advantages of return on investment in the next few years.

  Energy, real estate and finance: safe-haven sectors under the strongest inflation in 40 years

  The CPI of the United States in November increased by 6.8% year-on-year, the highest since June 1982. Excluding food and energy prices, the so-called core CPI rose by 0.5% from the previous month and 4.9% from the same period of last year, the biggest increase since mid-1991.

  Bank of America strategists believe that under the influence of high inflation, the current real profit rate of the S&P 500 index is negative, which indicates the downside risk of the market. Taking history as a mirror, there have been bear markets in the first four times in history when the real profit rate of the S&P 500 is negative. Investors are advised to seek safety in anti-inflation sectors such as energy, finance and real estate.

  According to the analysis of CITIC Securities, under the background that the U.S. economic recovery continues in the first half of next year and inflation remains high, energy, raw materials and other sectors will benefit from the expansion of the scissors gap between PPI and CPI, and EPS (net profit per share) and gross profit margin of individual stocks are also expected to show an upward trend. In addition, after the Federal Reserve lifted the restrictions on bank stock repurchase and dividend distribution on June 30 this year, the repurchase amount of American financial companies has returned to the level of $16 billion per month before the epidemic, which will support the valuation and ROE (return on net assets) of the industry.

  Internet technology: liquidity tightening risk vs structural opportunities for technological innovation

  In December, the Federal Reserve will double the rate of bond purchase, and the bitmap shows that it will raise interest rates three times next year. Many analysts believe that tight monetary policy will pose a threat to the high valuation sector. The current P/E ratio of Nasdaq 100, a cluster of technology stocks, is about 30, which is 21.4 times higher than that of the broader S&P 500.

  The Deutsche Bank report pointed out that inflation may be the main reason for most interest rate hike cycles in the United States. There is a "strong and consistent" negative correlation between the P/E ratio of US stocks and inflation ―― that is, under the high inflation environment, the valuation (PE) of US stocks tends to decline.

  In view of the fact that the United States is under the worst inflationary pressure in 40 years, it may be comparable to the 1980s when the Federal Reserve was forced to raise interest rates due to the same inflationary pressure. During the two interest rate hike cycles in the 1980s, the P/E ratio of US stocks both fell ―― but it does not mean that the stock market fell across the board. In fact, the strong profit growth of US stock companies in these two periods made the S&P 500 index record a range increase of 8% and 23% respectively.

  It can be seen that even if the Fed raises interest rates under the pressure of high inflation, it does not mean "the end of the world" for US stocks. The key is whether individual companies can offset the negative impact of interest rate hike on valuation with strong performance growth. During this period, it is difficult to cash in the growth rate of performance, but companies with high valuations may face challenges.

  According to Bloomberg’s unanimous forecast, the overall expenditure scale of information technology companies in the S&P 500 stocks is expected to be 110.8 billion US dollars in 2022, with a year-on-year growth rate of 24.3%, which is the largest since the statistics in 2015. Whether it is soft technology or hard technology, capital expenditure is obviously positive.

  Industrial Securities pointed out that FAANGs and other technology leaders focused on the direction of capital expenditure, including new energy vehicles, Metauniverse, digital currency, self-driving cars, AR/VR, cloud services, digital media and so on. Next year, the slowdown of US economic growth will weaken the kinetic energy of the overall profit improvement of US stocks and restrict the performance of the index. However, the structural highlights of the American economy in 2022, especially scientific and technological innovation, deserve attention.

  Semiconductor: high valuation+supply and demand reversal risk accumulation

  The Philadelphia Semiconductor Index (SOX Index), which includes chip manufacturers such as NVIDIA and AMD, has increased by 36% this year, with an increase of more than 50% in the previous two years and a cumulative return of 250% in three years. The current dynamic PE of SOX index is 6.3 times, but its 10-year average is only 3.6 times.

  This year, the global wave of Internet of Things and car electrification, and the instability of the supply chain caused by repeated epidemics have caused an unprecedented shortage of chips in almost all industries. Although the shortage of automobile chips remains to be solved, the demand for semiconductors in other fields may have tended to weaken. According to industry data, the growth of global chip sales slowed down for the third consecutive month in October and has fallen back to the level of May this year.

  Hocktan, CEO of Broadcom, a chip maker, also said in the conference call in the fourth quarter that some areas of the semiconductor market were "a bit too hot".

  According to the assessment of CITIC Securities, as a typical cyclical industry, the global PC sales volume is expected to basically peak in 2021, and the data center hardware uplink cycle will peak in 2022Q2. Considering the marginal weakening of downstream demand (PC, server, smart phone, etc.) next year and the continuous release of new semiconductor production capacity, it is judged that the risk of supply and demand reversal in the industry is accumulating.

  Aviation: North American aviation industry is expected to turn losses+epidemic concerns ease

  According to the latest forecast given by the International Air Transport Association (IATA) in October, it is estimated that the expected loss of the whole industry in 2021 is 51.8 billion US dollars, which is 63% lower than the net loss of 137.7 billion US dollars in 2020. It is estimated that the loss will drop to 11.6 billion US dollars in 2022, and it is expected to turn losses into profits in 2023.

  In terms of regions, IATA expects airlines in North America to take the lead in restoring profitability in 2022. It is estimated that airlines in this region will achieve a profit of 9.9 billion US dollars in 2022, which is the only region in the world to turn losses into profits next year.

  Guoyuan International believes that the most difficult period of the global aviation industry has passed, and the passenger volume and profitability are on the track of recovery. The resilience of domestic aviation market demand is still strong, and the gradual relaxation of international routes in the future is a high probability event. It is suggested to reverse the layout of airlines, airports and aviation information targets.

  Strategists in JPMorgan Chase said that although COVID-19 variants (such as Delta and Omicron) have repeatedly caused epidemics in various countries, if people’s natural immunity, vaccine-acquired immunity, significantly reduced mortality and specific drugs are gradually emerging, the epidemic will not be the primary risk next year.

The doctor tells you that crossing your legs and listening to jokes can affect your blood pressure.

This often happens in hospitals. Patients say that their blood pressure is high, but when they go to the hospital, their blood pressure is normal. Recently, 100 patients were investigated by the Department of Cardiology of the hospital, and less than 5% of them can correctly measure blood pressure. The director of the department said that the blood pressure of the same person is different at the same time because of the influence of posture and emotion, and the maximum difference can be 10mmhg, which causes some patients to misjudge their blood pressure, delay their illness or overuse drugs.
17th is World Hypertension Day, and this year’s theme is "Know Your Blood Pressure". The reporter interviewed the director of cardiology and asked the doctor to teach you how to measure your blood pressure.
Posture influence
Legs cocked, low blood pressure rose by 6mmhg. Doctor: Blood pressure is different with different force.
At 14: 00 on the 16th, the reporter measured his blood pressure in the cardiology clinic, and sat in the correct posture as instructed by the director. At this time, his blood pressure was 132/88. After rest, the left arm was measured in the same posture, and the blood pressure value was 132/86. The director said that the blood pressure values of the left and right arms are different. Normally, the blood pressure value of the right arm should be high. If the left side is high, arteriosclerosis may occur. When continuously measuring blood pressure, the interval should be more than 2 minutes to ensure vasodilation, otherwise the blood pressure value will be inaccurate.
Five minutes later, according to the director’s instructions, the reporter tilted his legs and left the back of the chair. At this time, the measured value is 130/94, the high pressure drops by 2mmhg, and the low pressure rises by 6mmhg. The director said that after changing posture, the degree of exertion changed, and the blood pressure also increased. This measurement is also inaccurate.
◎ Focus on the correct posture for measuring blood pressure: sitting upright, leaning back against the back of the chair, landing on both feet, putting your arms on the armrest and table, and measuring blood pressure with your right arm.
Emotional influence
The last time I went to the toilet, the pressure dropped by 4mmhg.
Doctor: If you hold your urine tight, your blood pressure will rise.
At 14: 20, after drinking a lot of water, the reporter measured the blood pressure again according to the director’s request. At this time, the blood pressure value of the right arm was 133/90. After taking a two-minute rest after going to the toilet, the blood pressure value was measured again, which was reduced to 130/86.
The doctor said that when people hold their urine, they are mentally nervous, so their blood pressure will rise accordingly. After emptying the bladder, people’s body and mind will unconsciously relax. At this time, taking a correct posture to measure blood pressure is the real blood pressure value.
◎ Focus on the correct measurement state: the self-measured blood pressure value is a reference value, and only when the posture and state are the same every time can blood pressure be effectively monitored. Therefore, to ensure the correct posture, rest quietly for 5 minutes, ban smoking or drinking coffee within 30 minutes, and empty the bladder, which is the standard measurement state.
Listen to a joke: high blood pressure rises by 5mmhg. Doctor: Blood pressure will rise regardless of sadness or joy.
"Blood pressure is controlled by emotions. Some people think that people who are irritable have high blood pressure. In fact, regardless of sadness or joy, people’s blood pressure will rise."
At 14: 40, the director told a joke when taking blood pressure. After the reporter laughed, the blood pressure value was 135/94, which was 5mmhg higher than before. Because it was not accurate, the blood pressure value was measured again within 1 minute, and it was 138/95, and then it was 141/95. People with normal blood pressure have detected high blood pressure.
People’s blood pressure is controlled by emotions, and it will fluctuate after emotions, and the blood pressure value will fluctuate by 2-10mmhg, which means that some people will have a cerebral infarction or myocardial infarction because of their high blood pressure after being overjoyed or furious.
◎ Focus on the correct measurement interval: blood pressure measurement should be repeated at intervals of more than 2 minutes, and the average of the two readings should be taken for record. If the interval is not enough, the blood vessels can’t relax effectively, which will make the blood pressure rise, and each time it is higher than the last time, which will easily make patients misjudge and take antihypertensive drugs excessively.
Life newspaper reporter Xu Riming
Reporting/feedback

Aauto Quicker Fashion Annual Festival ended 23 years ago, and the number of creators wearing content increased by 65% year on year.

On the evening of January 23rd, the annual Aauto Quicker Fashion Festival came to a successful conclusion next to Fuxian Lake in Yuxi, Yunnan. With the theme of "Flowers in Flowers", the event invited high-quality creators from Aauto Quicker in many fields, such as face value, music, dance, campus, fashion, beauty, parent-child and so on, to gather in the south of Caiyun to review the growth process of fashion in 2023, and to create a youth entertainment and fashion party belonging to Aauto Quicker Laotie, so that ordinary people can define fashion and let every fashion and beauty be seen.

Fashion, dance, beauty, music, facial features, parents and children, and campus dignitaries gathered together.

Multi-domain creators walk together to see every kind of beauty.

Advocated by Aauto Quicker’s values of equality, inclusiveness, truth and goodness, Aauto Quicker’s trendy videos have both a shining pace in the spotlight and an ordinary and simple fashion attitude. This year’s annual fashion festival will turn the traditional red carpet catwalk into a unique "beautifully dressed conference".

Fashion daren fashion grandma Tuan

Colorful flowers make up a beautiful "road of flowers". In addition to @ Shida Beauty, @ Xu Shan, @ Fashion Grandma Group and other head creators, they stepped onto the "busy road" catwalk, and @ Wu Xiaobei, @ 160kg Liuqi and other chubby girls and plus-size girls with little experience on the runway also boldly dressed up their own images and stepped out of different "flowers and flowers".

Beauty cosmetics daren Pangayu

In addition to Aauto Quicker’s fashion, beauty, and parent-child fields, @ Sang Na _, @ Wheat Color _, @ Su Xiaoxiao M, @ Uncle Sanpin, @ Liu Xuekun, and others who represent Aauto Quicker’s youth entertainment, are also well-versed, showing the "fashion" and "beauty" belonging to every ordinary Aauto Quicker.

Musicians @ Uncle Sanpin, @ Liu Xuekun

Aauto Quicker Annual Awards Promulgated to Show the Achievements of High-quality Creators

As an important part of this grand ceremony, the promulgation of "Aauto Quicker Award of the Year" can also be described as "letting a hundred flowers blossom". In addition to various wonderful performances such as singing, dancing and musical instruments, outstanding creators from different fields shared their creative experiences in 2023 on the stage, and more than 50 high-quality creators won 16 annual awards for Aauto Quicker Fashion.

Among the media organizations, China International Fashion Week, Fashion Media Group, Ruili Clothing Beauty, Watermelon Beauty, Front Teeth Video, Dayu, Meida Culture, Chengyi Media and other organizations won the "Partner of the Year" award, while other teams won the "Outstanding Beauty Brand of the Year" award, and @ Moshamaner won the "Popular Brand of the Year" award.

Personally, among them, @ 丞京京京京 won the "Fashion Pioneer of the Year" award; @ Lu Xianren won the "Fashion Person of the Year"; @ Xu Shan won the "Most Influential Fashion Person of the Year" award; @ Fashion Grandma Group won the "Silver Age Fashion Award of the Year" award; In the field of youth entertainment, @ Steel Bar Crab won the "Pink Saxophone Full Star" award; @ Xiao Li and @ Datousi won the "Campus Red Man Award of the Year" award; Five high-quality creators, such as @ Su Xiaoxiao and @ Wheat Skin, won the annual influence award; @ Beauty is not the same. Qi Nv, @ Wei Pin Gou ~ Da Mei Li, @ Tu Tu Mama, @ Bin Ge, @ Skin Future, @ Angela and @ Maiteyou won the "Breakthrough Award of the Year".

The content of dozens of award-winning high-quality creators is just like the theme of this grand ceremony, which is colorful and varied, including professional fashion sharing and humorous parent-child interaction; There are both the frozen goddess group and the dream-chasing uncle. It has truly influenced and promoted the aesthetic concepts of more users from the show to the field in a more grounded form.

Wu Rina (left), head of Aauto Quicker Trend Life Content Center, presented awards to the winners.

In an interview with the media, Wu Rina, the director of Aauto Quicker Trend Life Content Center, pointed out that the creator who won the annual honor not only grew up with Aauto Quicker, but also had his own unique characteristics, which recorded the real life of ordinary people, and was therefore deeply loved by the old irons. Aauto Quicker is willing to embrace those creators who are not limited by age and geographical factors and have their own characteristics. In the future, it will continue to pay attention to creators with Aauto Quicker community characteristics, create a more perfect service system for creators, and launch more activities with Aauto Quicker community mentality to help creators grow and develop better in Aauto Quicker.

In 2023, the search volume of "military coats" increased by 768% year-on-year

At this fashion festival, Aauto Quicker released the 2023 Aauto Quicker Fashion Beauty White Paper. According to the white paper, in 2023, there were more than 500,000 creators under the category of fashion+beauty in Aauto Quicker, among which the number of fashion wear content creators increased by 65% year-on-year, and the number of e-commerce live broadcasts broke through 10 million was as high as 800+; "Body tolerance, the rise of national tide, nostalgic fashion, durability and charm explosion" have become the five major trends of fashion wear in Aauto Quicker in 2023. Among them, the search volume of "plus size girl" increased by 79% year-on-year. Aauto Quicker creators and users bravely refused anxiety and became "girls who are not defined by size" and found that "self-confidence is beauty"; The search volume of "new Chinese style" increased by 142% year-on-year, and the search volume of "domestic products" increased by 138% year-on-year. Through the integration and innovation of tradition and modernity, Aauto Quicker creators planted flowers and made domestic products. The search volume of "military coat" increased by 76.8% year-on-year, and more classics and fireworks were presented on the platform of Aauto Quicker. The classic sense of the era such as military coat and northeast big flower was once again popular, redefining fashion; The search volume of "cost-effectiveness" increased by 88% and the search volume of "contrast" increased by 246% year-on-year, which means that the content creation in the field of fashion and beauty in Aauto Quicker has become more "rolled", not only rolling techniques and skills, but also rolling creativity, focusing on contrast, variety and high cost-effectiveness.

2024 traffic realization policy continues to escort outstanding creators.

"Thanks to each other’s two-way trip this year, we have this splendid gathering." Zhang Lanlan, the head of Aauto Quicker Author’s Business and Liquidation Center, said at the ceremony that Aauto Quicker Fashion has always been committed to let every ordinary person use his own voice to interpret diverse fashion concepts and see the beauty of fashion in different fields and different possibilities.

Zhang Lanlan also focused on commercial realization in 2024. She believes that Aauto Quicker Fashion’s first service user is Aauto Quicker Laotie, and at the same time, it will tilt more resources to the authors who are willing to take the initiative to operate in Aauto Quicker, encourage creators to interact more and create better original content, and Aauto Quicker will continue to provide rich and sustainable ways for high-quality creators to realize their cash.

Yin Chao, the head of Aauto Quicker Youth Entertainment Business, shared the status and prospect of youth entertainment business from three aspects: content ecology, creators and activities. According to him, at present, the youth entertainment business covering dance, music, face value and campus has 3 million+creators, of which 50% are young creators aged 18-30, with a daily publishing volume of 2 million+and an average daily consumption of more than 15 billion, which has become the backbone of Aauto Quicker’s creative ecology, and also reflects the positive yearning of the old iron people for a better life. In terms of activities, Aauto Quicker Youth Entertainment launched a number of special IP activities in 2023, such as Aauto Quicker Country Super Bowl, Campus Short Video Creation Competition, and Dialect Mai Ba Competition, which provided more stages for Aauto Quicker creators to show themselves.

Looking forward to 2024, Yin Chao mentioned that the existing rights and interests will be focused and integrated, and a more targeted and greater creator support plan will be carried out for key content tracks such as campuses, regional cities and featured content, providing creators with tens of billions of flows and recording Lao Tie’s most real interest content with the creators.

Zhang Xuhao held a "pit" for four years.

Original liuyong juchao WAVE

Text | liuyong

Editor | Yang Xuran

One day in December 2021, Zhang Xuhao released a circle of friends:

"Our aim is that 2680 yuan must be used in playgolf for everyone to learn golf. In fact, this movement is very simple and very civilian, and it cannot be demonized by past thinking. "

Only then did people find out what Zhang Xuhao had been doing quietly in recent years.

Back in April 2018, he sold "Hungry" to Alibaba for $9.5 billion, and then fell into silence-perhaps this silence is just an external manifestation of enjoying life.

In fact, people found that after he left hungry, he registered several companies soon: in March 2018, he registered Shanghai Puguan Business Consulting Partnership (Limited Partnership) and set foot in the consulting field, but at present it shows that it has been cancelled; In April of the same year, Shanghai Yuduo Business Consulting Co., Ltd. was registered with a registered capital of 5 million yuan.

Since then, he has taken a stake in Shanghai Yangwan Network Technology, which is a blockchain company mainly established by technical backbones who have been working hard with Zhang Xuhao for many years, but there is no following after 2020.

Besides, he once worked as an investment partner in Yuanjing Capital, an Ali-based capital company. But this is not the career he wants.

Until now, Zhang Xuhao, with a fiery personality and a strong desire to win, finally returned to the battlefield with another attitude. It’s just that few people can imagine that his eye will be on golf-it’s hard to be called an excellent track, so that to many people, his second venture is a bit like a ticket game, even a bit like into the pit.

01

Expensive consumption

A veritable "minority movement"

"Golf is actually not difficult. The small white group only needs 10 classes, which is only 2680 …"

Just like the low-price strategy adopted when he was hungry, Zhang Xuhao still wants to stick to the low-price model this time. He believes in the development potential of China’s sports industry, and thinks that it is not necessary to imagine golf as unattainable. "Golf is actually very simple".

The origin of golf in China happened to be the same year that Zhang Xuhao was born. At that time, for the purpose of providing leisure and entertainment for foreign businessmen, golf courses first appeared in cities where foreign companies gathered, such as Guangzhou and Shanghai. In other words, it is aimed at high-income business people from the beginning.

Golf courses usually serve urban business people.

In the actual stadium operation, from design to maintenance and operation, it also shows that this is a veritable "minority" movement.

Head leopard research institute has calculated such an account:

First of all, the design of golf courses is very professional, but there is a serious shortage of talents in this respect in China, so it is usually necessary to hire foreign designers. Generally, the design cost of an 18-hole standard course is as high as 500 thousand to 2 million dollars, and the design price of celebrities is higher. For example, the design cost of two courses designed by professional golfer Tiger Woods under the name of Beijing Tianan Holiday Golf Club is as high as $16.5 million;

Secondly, the investment in fixed assets and daily maintenance of golf courses are "burning money". Golf courses must occupy a lot of land. The standard 18-hole course is usually about 750 to 1500 mu, and the cost of land acquisition accounts for 70% of the total fixed assets cost. The remaining 30% is spent on paving lawns and importing some professional maintenance equipment such as punching machines and lawn mowers.

At the same time, lawn maintenance also needs a lot of water. According to the report, its average water consumption is 46 times that of cereal crops of the same area, and the daily water consumption of standard courses is as high as 2,000 to 2,500 tons, which is a huge burden for cities with high water consumption costs.

Therefore, the tax authorities in China set the business tax of golf and other industries at 20%, and some areas also levy high water resource use fees on water used in special places such as golf courses, which will inevitably further push up its operating costs.

The agency estimates that it usually takes 14 years for a standard golf course to recover the cost of fixed assets.

The high fixed cost of golf courses has created high prices.

All this is bound to be passed on to consumers without exception. At present, golf in China is basically a private venue, with a membership system, and the individual price is higher. Generally speaking, the price of a membership card is in the range of more than 100,000 to hundreds of thousands or even millions of RMB, and the individual plays a game in the range of two or three thousand yuan.

PLAYGOLF CLUB tries to break such a high-priced convention-the exquisite 20-seat private room of 50 square meters distinguishes the prices of visitors and members. The price of two-hour leisure package visitors is 1040 (weekdays) and 1280 yuan (holidays), and the member is 1000 yuan; The exclusive package for 4 hours (including one extra hour) costs 1560 yuan (weekdays) and 1920 yuan (holidays) for visitors and 1500 yuan for members.

In addition, the training course for "Xiaobai" is 2680 yuan for 10 classes.

Compared with other professional courses, the price offered by Zhang Xuhao is not much different from that of a bowling or tennis game, and it is really very close to the people, which may attract a group of urban middle class. However, the question is whether there are enough consumers, and whether it can help Zhang Xuhao cover all costs and even profits by taking the volume.

02

Desolate battlefield

Golf has neither a huge mass base nor a future.

Zhang Xuhao has a lasting enthusiasm for sports, and his habit of playing basketball continued until he was hungry.

Obviously, golf has become his latest hobby. He once said that the balance required by golf is his pursuit, and he also tried to turn this hobby into his next career. In order to promote the project, he spent 150 million yuan to renovate Huangxing Golf Course, which may be the biggest investment since he was hungry after selling it.

However, the golf course in China has never been seen in sturm und drang. According to the statistics of Huajing Industrial Research Institute, the size of China’s golf market in 2020 is only about 10.26 billion yuan, up 4.37% year-on-year-which is already a good year for this sport in recent years.

However, this figure is still in sharp contrast with the rapid growth of economy and residents’ consumption expenditure in the past years: in 2021, the per capita consumption expenditure of residents actually increased by 12.6%, reaching 24,100 yuan, of which the expenditure on culture and education increased rapidly, with the per capita consumption expenditure on education, culture and entertainment increasing by 27.9%, accounting for 10.8% of the per capita consumption expenditure.

The ugly data indicates that golf has neither a huge mass base nor a bright future.

Golf is a typical foreign product.

As early as 1997, the State Council issued the "Notice on Further Strengthening Land Management and Effectively Protecting Cultivated Land", which laid the policy tone for strict examination and approval of new golf courses. Until 2003, the then Ministry of Land and Resources regarded the golf project as a local "image project" and demanded that "no land should be submitted for approval".

Since then, this policy has been reiterated again and again. By 2014, the phenomenon of official corruption involving high consumption of golf balls was extremely common, which even stimulated the official to check and rectify the industry.

"Corruption in playing golf illegally" once became a high-frequency word. For example, Bai Enpei, the former secretary of Yunnan Provincial Party Committee, was exposed to play golf three times a week and usually played with businessmen. "Playing golf is gambling. If any developer wants to send money to him, then play golf, deliberately lose to him, and bribe in disguise …"

The National Development and Reform Commission and other 11 departments jointly requested to sort out the existing golf courses, of which more than 100 closed down and only 400 remained.

It’s hard to say whether Zhang Xuhao was influenced by his hobbies.

This situation did not basically end until 2016. In the following six years until today, golf has been officially restored as a sport, but in all sports industries, it still hides in a dark corner and becomes synonymous with corruption and luxury. It is divorced from most people’s lives, floating in the air like clouds, but it is not white and beautiful.

03

start a new undertaking

The "phantom of the policy" has never subsided.

Unlike the hungry from scratch that catered to the rise of takeout and the popularity of smart phones, Zhang Xuhao now faces a completely different reality.

As mentioned above, the fate of golf seems to have ushered in a turning point after 2016, and the outside world is optimistic about the future development prospects. But in fact, the "phantom of the policy" has never subsided, and the construction of new golf courses is still banned.

Even PLAYGOLF is not a new project. It is just that Zhang Xuhao has integrated several golf clubs that were originally subcontracted by Huangxing Sports Park and re-opened them in the name of golf training ground after spending 150 million yuan to rebuild them. Even today, some public opinion still thinks that Zhang Xuhao has played a policy "edge ball".

PLAYGOLF project integrates several clubs in Shanghai.

In fact, the scale of golf industry in China has been hovering at a low level in recent years, which not only has the influence of past policies, but also has the factors of weak consumption.

Statistics show that the number of golf facilities in China in 2019 was 380, down 1.3% year-on-year; The number of golf holes in China is 8,360, down 5.5% year-on-year. Of course, the golf market in China will still grow by 4.4% in 2020, but the main reason may be the investment in youth training supported by the state.

When Zhang Xuhao aimed at the middle-income group of 400 million in the future, it probably didn’t consider the possibility that the situation of this group would deteriorate. Although the total economic output of China has successively exceeded the scale of 100 trillion yuan and 110 trillion yuan, the economic growth rate has rapidly dropped from "9" to "5" in the past 10 years. It is extremely doubtful whether the high-speed growth of first-tier cities with concentrated golf courses such as Beijing and Shanghai will be more unsustainable due to economic restructuring and other reasons.

As a result, the general social anxiety leads to weak consumption, which has become one of the main economic problems facing China at present. From the actual situation since 2020, the urban middle class is becoming increasingly cautious in consumption, and it is doubtful whether experiencing golf will become a part of their consumption list.

Zhang Xuhao is the biggest entrepreneur in the history of golf industry.

What’s more, the short-term impact of the epidemic is like a house leak that rains all night.

Established in 2020 and after more than 300 days and nights of renovation, when PLAYGOLF CLUB announced its "return" in March 2021, the COVID-19 epidemic was still not over. In fact, in the past year or so, PLAYGOLF CLUB has been repeatedly closed for business-of course, there are also reasons for renovation and maintenance.

On April 25th, it said in an article on the official website "When the Pause button was pressed in Shanghai" that it was the 25th day that it was impossible to practice in PLAYGOLF CLUB …

Going against the current at this historical node, the resistance that Zhang Xuhao faced in his new career can be imagined.

In those days, when he was hungry, Zhang Xuhao cashed in billions of huge wealth, and in a few years, he walked the road of many entrepreneurs all his life. This is his success. But I’m afraid the money was not burned casually.

04

Write it at the end

Most successful entrepreneurs can’t copy their own legends. How many people succeeded in digging up the first bucket of gold in life, but they only stopped at the first bucket of gold.

For example, in the internet field, in the past, there were not a few people who sold their companies and gained huge wealth in the internet field, and there were not a few entrepreneurs who rejoined the business world, but there were almost no winners again.

For Zhang Xuhao, Hungry’s entrepreneurial experience is full of legend, and he has gained the wealth and success that countless people hope to achieve. As a post-80s rich man in the sunshine, we hope his experience can inspire more people. I hope that his golf popularization route is only a temporary misfortune, just like the early days of the take-away market, which is "mistaken" by more people.

Thank you for your patience in reading. At the same time, I recommend paying attention to Juchao Business Review and finding the wonderful dry goods of stock investment:

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Original title: "Zhang Xuhao held a" pit "for four years | Tide"

What is emotion and how to understand it correctly

What is emotion?

Emotion is the emotional resonance of people’s emotional behavior. For example, I saw a young mother crouching down to tidy her children’s clothes and trousers. What happened between the mother and the children was an emotion, but it turned into an emotion in my cognition. The influence of emotion on people is mainly value judgment. Generally speaking, one’s emotional cognition determines one’s values. When people have emotional resonance with something, they will have value recognition with it. Things that make people identify with value are things that make people feel beautiful, and the opposite is ugly and disagreeable. People are always pursuing what they think is beautiful and rejecting what they think is ugly and disagreeable. Everyone has different growing environment, and different growing environment will shape different sense of identity, and the difference of sense of identity will shape strange values, and the conflict of values will lead to various social contradictions between people.

In order to reconcile the social contradictions created by people, universal values with a wider coverage have been built, and a moral system has been built on the basis of universal values. Social rules have been established on the moral system, and a judicial system has been established to punish individuals who do not abide by the rules. This is the basic structural principle of establishing a modern society, and the starting point of everything lies in what individuals will have emotional resonance with. By adjusting and strengthening universal values, we can change and unify each individual’s cognitive environment to the maximum extent, and eliminate social contradictions caused by differences in values from the root. This is the basic principle of building a harmonious society in the country. How to maintain correct and objective values in society requires individuals to adjust their own values, and the starting point is to correctly understand their emotional cognition.

People will have spiritual dependence on things that arouse emotional resonance, and the value orientation produced by this spiritual dependence determines people’s behavior orientation. The richer the spiritual world, the more flexible and broad the cognitive range, and the simple spiritual world, the more stubborn and intolerant. The process of emotional cognition self-correction is to arouse emotional resonance as much as possible, and a simple understanding is to actively improve one’s aesthetic ability. The stronger the aesthetic ability, the more angles you look at things, and the more perspectives you have, the more complete and profound your understanding of things will be. Everyone yearns for beauty and hates ugliness. When making a choice, they all take the beauty in their hearts as a reference. That is to say, a person who thinks something is beautiful will use it as a standard to measure the value of people, things and things around him.

For example, if a person thinks money is beautiful, he will use money as a standard to measure the value of things around him. Those who think that power is beautiful will measure people and things by whether they can show power, those who think that knowledge is beautiful will measure people and things by the amount of knowledge, those who think that morality is beautiful will measure everything around them by moral standards, and those who think that fairness and justice are beautiful will measure things by whether they are fair or not. The values established by emotional resonance are like a scale to measure everything. Everyone uses the scale in his heart to mark everything he meets with different values. Then define self-pursuit with these values as the guidance, and people’s goals and ideals are the visualized results of self-pursuit.

It is precisely because of the differences in emotional demands that various life goals have been created, and the differences in goals have caused conflicts in values. The moral system based on universal values is an important tool to adjust the conflict of ideas, in which individuals should actively realize their self-worth in addition to passive adaptation and acceptance, which is also the normal state of people in social activities. With the development of society, modern society pays more attention to individual power and value. As a result, a more complex and changeable value system has emerged. With the popularization of education and the information explosion, it will have a greater impact on modern people, and most people have been exposed to information beyond their own understanding. Therefore, a clearer emotional cognition can better adapt to and understand the value conflict brought about by the information explosion.

In personal cognition, emotions bring more emotional outbursts, and people and things that can trigger personal emotions are the embodiment of personal values. When an individual makes a value judgment, there are two kinds of performances, one is that people have no me, and the other is that people have no me. People who have no self are judged by what they have, while people who have no self are judged by what they don’t have. They are all the same in essence and will have differences in performance. Different objects of value identification will produce completely different performances. When a person thinks that a person’s social status is very important, he will use the status as a value reference.

When making reference, take yourself as the coordinate to compare up and down, and when you meet people whose status is not as good as your own, your values will enter a state where people have nothing. The external performance will be different because of different emotional cognition, and the internal state is to think that you are higher than others. When you meet someone with a higher status than yourself, your values will enter a state in which people have me without me, and the external performance is also different. The internal state is that you are lower than others. People who are not much different from themselves will enter a competitive state, and their internal demands are to surpass each other, but their external performances are also different.

The emergence of values lies in what a person thinks a person’s status is determined by, and what a person’s emotional cognition resonates with will make him think that what a person has is valuable. Take the wealth with universal value as an example. A person who thinks wealth is a yardstick to measure personal value will equate everything in his cognition with money. When judging other people’s social status and value, they will convert everything they have into money, then value it with everything they own and measure each other’s value. In this process, the valuation of others and yourself is a free evaluation, and the accuracy of valuation depends entirely on personal cognition. As a result, if you think that your value is higher than others, you will enter a state of being without me, and if you think that your value is lower than others, you will enter a state of being without me. On the outside, you will show different thinking characteristics because of different emotional cognitive deviations.

Under the influence of universal values, introverted resentment will be extremely stingy in a state where people have nothing, and they will always prevent people with lower values from taking advantage of themselves, which makes them appear bitter and indifferent. When dealing with people of equal value, we will maintain a superficial fairness, but after taking advantage, we would rather turn our faces than give up our vested interests. When dealing with people whose value is higher than their own, they will fall into a state where people have nothing to do with themselves. They always put themselves on the weak side and are afraid that they are useless. They often use small favors to maintain relationships, and then find opportunities to take advantage of each other. They are very good at using emotional kidnapping to make profits for themselves. If they can’t find benefits, they will blame each other for their disregard for human feelings.

Outward-looking resentment will show all kinds of self-packaging and show off wealth in a state where people have nothing, so as to prove the inevitability of their success. People who treat people whose value is lower than their own will use all kinds of rhetoric to promise others to pay for themselves, and finally only honor part of them or not, and then pass the buck to others to find various reasons for not honoring their promises. When treating people of equal value, they will play all kinds of tricks to embarrass others, and they are also very concerned about whether they have won the respect of others. They often make trouble on the grounds that others don’t respect themselves, and they are petty but eloquent, and they will excuse themselves. Treating people whose value is higher than their own will fall into the dilemma of people with and without, blindly recognizing everything of high-value people, and doing their best to cater to and borrow the value of others to raise themselves.

Introverted begging will show condescending conceit in a state where people don’t have what they have. In this state, they think that everything they have is earned by their own efforts, so people who treat people with lower value than themselves only see each other’s shortcomings and treat others harshly and mercilessly. When dealing with people of equal value, there is a degree of humility but toughness everywhere. Even if you suffer losses, you will find it back in other directions without holding on to the dead bar. When you treat people with higher value than yourself, you will fall into a state where people have me and have nothing. In this state, you will quickly improve and enrich yourself, and your high demands will last until you can do nothing. Externally, you will not be too grateful to those who promote and take care of yourself, and you will be more sure of your efforts and efforts.

Extroverted begging will show moral superiority in the state that people have nothing. Driven by this superiority, people who are less valuable than themselves are often self-righteous, accusing others of their mistakes with their own one-sided cognition, and they will be very concerned about the way others treat themselves externally. Pay great attention to the display of self-achievement when dealing with people whose value is equivalent to their own, and only maintain respect for those they recognize and formal courtesy for those they don’t recognize. When dealing with people whose value is higher than their own, they will fall into a state where people have me. In this state, they will imagine what would happen if they had these, and then turn these imaginations into expectations for high-value people. These expectations will become moral requirements in most cases and cynical reasons in a few cases.

Introverted love separation will have a sense of mission when people are without me. Driven by the sense of mission, it will show a natural and unquestionable arrogance to treat people whose value is lower than their own. Under this arrogant mentality, whether it is worthy of redemption is often used to judge the value of others. When treating people with equal value, they often put their ideas first. Those who don’t agree with their own ideas will have all kinds of paranoid denials, while those who agree with their own ideas will have no bottom line support. When dealing with people whose value is higher than their own, they will fall into the state that people have me without, irrationally pursue others’ existence, and excessively deny their own absence, which is manifested in various idolatries.

The extroverted love separation will produce a sense of aloofness in the state that people have nothing. Under the influence of this sense of aloofness, people who are less valuable than themselves will have a contemptuous attitude, and they will behave in their own way but never explain anything. When treating people of equal value, they will show both respect and recognition, while keeping their distance from each other and never taking the initiative to develop intimate relationships. When dealing with people whose value is higher than their own, they will be trapped in a state where people have me, respect and seek advice to improve themselves, and at the same time, they will find fault with each other for proving themselves.

Whether people have me or have no me, it is the beginning of self-cognition being disturbed by their own emotions, which is also the basic principle of the existence and non-existence of the Reed Classics of Tao Te Ching. If wealth and goods are not beautiful, they will not raise the status of people with wealth and goods in their hearts, nor will they think that poor people are worthless; If you don’t take power as beauty, you won’t be humble in front of powerful people, and you won’t laugh at people without power; If you don’t take knowledge as beauty, you won’t be afraid to show your ignorance in front of knowledgeable people, nor will you show off your knowledge in front of ignorant people. If you don’t think you have it, you won’t despise others’ lack because you have it; If you don’t think you have nothing, you won’t feel humble because others have it. If we get rid of the awareness of the presence or absence, we will not be disturbed by the presence or absence, and everything we see is original; Without the love of beauty, we can correctly understand the so-called ugliness, and we will not deny anything because of ugliness. Most people in the world are trapped between the existence and non-existence, because they are happy because they have it, and they are sad because they have nothing. It is difficult to understand what virtue is unless they get rid of what they think they have.

In Buddhist thought, people’s self-thought is interpreted as "phase", and they are obsessed with longevity and think that longevity is beautiful, and they can enjoy the fortune. Wisdom is the phase of those who have entered the longevity; Obsessed with saving the world, let the world live according to a certain method, and let all beings enjoy the blessings, that is, they have entered the phase of all beings; The heart of wealth, power, wisdom and compassion will all enter my phase, and my heart will be trapped between the existence and the absence, and it will rise and die because of the cause. Most people who practice Buddhism are obsessed with their hearts, and people’s hearts have no wealth, tactics, wisdom and compassion; If you are obsessed with something, you will stick to it, and if you stick to it, you will think it is true. If you are in line with what you hold, you will think it is, and if you are not in line with what you hold, you will think it is not. Correct others’ wrongs with self-righteousness, no matter what the heart is, it is hard to get good results in the end.

People who are obsessed with Buddhism think that all beings can cross, but they don’t know that all beings can only cross by themselves. All Buddhism and Taoism are just roads for the world to cross the river by themselves. No matter which road is taken by the world itself, many people kneel on the road and kowtow in the hope that this road will become an elevator to take them forward. Therefore, all beings can cross because they have a way to go, and all beings can’t cross because they can only walk by themselves. If you don’t get obsessed with your heart and don’t stick to your phase, you will naturally see the nature of all beings. When you see all beings, you will know that your heart is the same as all beings, and your heart is one and you know the cause and effect.

In China’s traditional thought, emotional cognition is interpreted as "feeling", and all emotions are born of feeling qi. Seeing beautiful things, I feel that this kind of beauty is called "emotion", and what I think I don’t have and want to have after my own measurement is called "desire". Everyone has feelings and desires, so how can I balance myself, neither being partial to feelings nor desires, which requires me to adjust my subjective position. The internal principle is very simple. Is it people who decide the value? Or is value determining people? It is the core part of Confucianism that people themselves determine the value of everything. The gentleman advocated by Confucius is to take people as the king, and any value should serve people, and no value can be used to deny the role of people. Confucius said that the villain is to determine people by value. Once people are defined by value, they will be divided into different grades, and the grade difference caused by value will trigger various emotions.

Because your value is denied by others, you will get angry. For example, others don’t act according to their own wishes, you don’t get the respect you deserve, and your contribution is not recognized. If you feel that you are valuable and can’t get recognition, you will have resentment. For example, your efforts have not been rewarded, your dignity has not been guaranteed, and what you should have has not been obtained. Excessive self-recognition and feeling that you are more valuable than others will lead to arrogance. For example, thinking that you have higher status will lead to arrogance in status, thinking that you have higher knowledge will lead to arrogance in cognition, and thinking that you have greater social value will lead to arrogance in power.

When anger, resentment and pride are mixed together, it will produce hostility, which is explained by modern psychology as anti-social tendency. On the contrary, it is righteousness. The principle of righteousness is not to define people by value, but to define all values by people. How to maintain a correct cognition in daily life and social activities? In Confucianism, there is a book that specifically explains how to nourish qi called The Doctrine of the Mean. The basic principle of The Doctrine of the Mean is the principle of righteousness, and its main function is to correct itself when making daily judgments and decisions. You can’t deviate from the gentleman’s way and can’t afford the villain’s heart.

People’s hearts are true, but only when they are disturbed by miscellaneous gas can they be divided into gentlemen and villains. The so-called villains are not born small, but have made themselves small. When a person thinks that something is more valuable than others, then he is small in front of something. Once I am young, I will fall into the dilemma of "people have me without me, and people have me without me". I am proud of what I have and feel inferior because I have nothing. People don’t need any value, but all values need people. This is the right way. No matter who pursues the right path in the end, the most unforgettable thing in feelings is not those who come because we have nothing, but those who are still kind to us without caring what we have or what we have. When judging whether others are sincere to themselves, they are always worried about whether they are coming for themselves. This is the essential need of people for the right path.

. What this demand reflects is that human nature refuses to be bound by value and longs for inner freedom. What can get rid of the bound by value and meet this essential demand is feelings. The easiest thing to get in feelings is to treat parents’ feelings, regardless of whether parents can be themselves. As children, it is difficult to define their parents by value. What parents should do regardless of their value is the initial foundation of being born as a human being, which is also the core of China’s filial piety culture for thousands of years. The reason to advocate and carry forward filial piety is to tell everyone to the greatest extent that all values in the world serve people. In front of filial piety, people should do something and not do everything for external values. This is the important core of Confucian benevolence. How to keep this core in the complicated world is the significance of the Confucian theory of nourishing qi, and it is also the reason why The Doctrine of the Mean can become an important Confucian classic.

Correcting one’s own emotional cognition can help to understand how values affect people to the greatest extent, and also correctly understand the significance of the existence of the value system. A correct understanding of value does not prevent people from pursuing value. A person who does not regard wealth as a personal pursuit does not prevent him from making money. On the contrary, after making money, he can better play the value of money. Not treating power as a personal pursuit does not prevent him from becoming an official. On the contrary, he can serve the people better after becoming an official. Not defining people by value does not prevent value from playing its due role. The only difference lies in the individual’s perspective and attitude towards value and people. For modern people, there are too many things that need to be judged. Maintaining correct emotional cognition can avoid a lot of unnecessary pain and trouble.

Amazing! Liaoning team’s new foreign aid performed well, and Yang Ming took action and partnered with Molander.

Many fans have doubts about the level of foreign aid in NBL league, especially when Hudson can easily score more than 40 points per game. However, we should not ignore some players in this league that are worth looking forward to, such as Gyllenhaal of Shandong Men’s Basketball Team and others. In addition, the performance of the new foreign aid introduced by Liaoning team recently was also excellent. He contributed 18 rebounds, close to 40 points, which helped the team win at home and relieved Hudson’s huge burden.

Indeed, Hudson, as the top foreign aid in NBL league, has always been the scoring champion and offensive core of Liaoning team. However, it is very unhealthy to rely on one person for a long time, and no team should rely solely on one person’s scoring ability. Such dependence will bring great risks to the team, because the opponent can launch strict defense against this player and suppress his scoring efficiency.

MEK’s joining has brought new hopes and choices to Liaoning team. He showed excellent rebounding ability and scoring ability, which added powerful firepower to the team inside. The arrival of Mack made Liaoning team’s attack more diversified, and the opponent could no longer simply pay attention to Hudson, which also gave Hudson a chance to rest and reduced his pressure and burden.

In the daze of Liaoning men’s basketball team, fans began to look for the candidate who could fill the vacancy of inside strength. As a foreign aid of Fujian men’s basketball team, MEK has always left a deep impression on people. He has a height of 2.11 meters, which most fans know, but his flexibility makes people admire him. He can even pull out and shoot three-pointers, which is really remarkable.

Perhaps it is precisely because of this all-round performance that Yang Ming should not hesitate to inspect Meike. With Molander’s partner, the inside strength of Liaoning Men’s Basketball Team will be greatly strengthened. Once they really cooperate, their opponents will be at a loss. Holding high the banner of MEK, the inside of Liaoning Men’s Basketball Team will become strong and invincible.

However, at this critical moment, problems began to emerge. The biggest problem of Liaoning team in NBL league is that the inside strength is too poor, which is naturally a fact that can be seen by the naked eye. They tried every means, constantly changing foreign aid, hoping to find the right person to fill this vacancy.

They chose Meck, or more accurately, Makor Meck, which became their light of hope. He is the cousin of Fujian men’s basketball team’s foreign aid Meike, and this blood connection is really exciting. The two men are similar in style and figure, which undoubtedly brings more expectations to the fans.

On this stage of basketball playoff, the inside strength of Liaoning men’s basketball team has become the focus of attention. Han Dejun and Li Xiaoxu, the veteran team, have gradually shown signs of fatigue under the erosion of years. Wu Changze’s leaving the team on loan cast a shadow over the inside strength of Liaoning men’s basketball team. Molander’s injury problem also makes people worry. At this time, it seems that the sudden appearance of Meck gave the team a brand-new hope.

Meck’s height is remarkable. The height of 2.11 meters can almost sweep the audience, but it has unexpected flexibility. He can not only grab a strong rebound inside, but also pull it out to make a breakthrough. This combination of height and flexibility is like an unstoppable basketball giant.

In addition to his height and flexibility, Meck also has a fairly good three-point shooting percentage. In this game, he scored 2 out of 4, which is quite rare. This kind of performance has amazed the fans outside the stadium, and calling Meike directly is the third foreign aid that Liaoning men’s basketball team needs.

The new season is coming, and the inside strength of Liaoning men’s basketball team will definitely decline. Veterans are getting older, and injuries often plague the team. Under such circumstances, as a cheap basketball player, MEK is undoubtedly a new supplement to the team’s inside strength.

Under the close relationship between Yang Ming and NBL Liaoning team, he naturally paid more and more attention to Meck’s performance. Once, Yang Ming was there to cheer for the Liaoning team, and this relationship also provided convenience for him to visit Meike. Therefore, in the face of MEK, Yang Ming must not hesitate. Otherwise, not surprisingly, other CBA teams will definitely take the lead and bring MEK into their ranks.

Lose the sparring team for 2 consecutive games! Owen supports the American men’s basketball team: don’t take it too seriously. It happens sometimes.

Live on August 5 th, the US Men’s Basketball World Cup Training Camp is being held recently. The American Men’s Basketball World Cup team lost to the sparring team for two consecutive games and 10 minutes each.

Owen forwarded the report and wrote: "It happens at this time. This is part of the game. Every player in the American men’s basketball team is trying to find his own role and fight for playing time. You have to give the world cup players time to get to know each other and don’t take this report too seriously. "