419上海 – 上海后花园论坛-上海419论坛-夜上海论坛-阿拉爱上海

SASAC： Do a good job in serving the strategic task of building a new development pattern and give full play to the leading, demonstrating and driving role of central enterprises.

Learning deeply, understanding carefully and doing well, contributing to the construction of a strong country to the strength of state-owned central enterprises

The State Council SASAC Party Committee

　　In-depth study and implementation of the theme education of the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era in the whole Party is a major deployment made by the CPC Central Committee with the Supreme Leader as the core to comprehensively implement the spirit of the 20th Party Congress and mobilize all Party comrades to unite and struggle to accomplish the central task of the Party. The 20th National Congress of the Communist Party of China defined the objectives and tasks of the development of the cause of the Party and the country in the new era and new journey, and made major strategic arrangements for comprehensively promoting the great rejuvenation of the Chinese nation with Chinese modernization and building a socialist modernization power in an all-round way. State-owned enterprises are the pillars of Socialism with Chinese characteristics’s economy, and they shoulder an important mission in building a modern industrial system, building a new development pattern, promoting high-quality development and promoting Chinese modernization. The State-owned Assets Supervision and Administration Commission of the State Council and the central enterprises should take the opportunity of in-depth theme education, make greater efforts to thoroughly understand and adhere to the supreme leader’s Socialism with Chinese characteristics Thought in the new era, and strive to write a new chapter in the great journey of building a strong country and national rejuvenation.

　　First, the Supreme Leader’s Socialism with Chinese characteristics Thought in the New Era is an action guide for doing all the work of state-owned central enterprises in the new era and new journey.

　　The CPC Central Committee with the Supreme Leader as the core attaches great importance to the work of state-owned enterprises. Since the 18th National Congress of the Communist Party of China, the General Secretary of the Supreme Leader has delivered a series of important speeches, made a series of important instructions, put forward a series of new ideas, new viewpoints and new conclusions, and formed an important exposition of the General Secretary of the Supreme Leader on the reform and development of state-owned enterprises and party building, which is an action guide for doing all the work of state-owned central enterprises in the new era and new journey.

　　Adhere to and develop Socialism with Chinese characteristics, and clarify the status and role of state-owned enterprises in the new era.General Secretary of the Supreme Leader profoundly pointed out that state-owned enterprises are an important material and political foundation of Socialism with Chinese characteristics, which is related to the consolidation of the dominant position of public ownership, the ruling position and ability of our party and the socialist system of our country. The dominant position of public ownership cannot be shaken, and the leading role of state-owned economy cannot be shaken. This is an institutional guarantee to ensure that people of all ethnic groups in China share the fruits of development, and it is also an important guarantee to consolidate the party’s ruling position and adhere to China’s socialist system. State-owned enterprises are important, crucial and irreplaceable, and must be firm, strong, excellent and big.

　　Deeply grasp the most essential characteristics of Socialism with Chinese characteristics, and make clear the fundamental political guarantee of state-owned enterprises.On October 10, 2016, General Secretary of the Supreme Leader attended the National Conference on Party Building in State-owned Enterprises and made an important speech, profoundly answering major theoretical and practical questions such as whether state-owned enterprises should strengthen party building, and profoundly pointing out that adhering to the party’s leadership and strengthening party building is the glorious tradition, the "root" and "soul" of state-owned enterprises in China, and the unique advantages of state-owned enterprises in China, emphasizing adherence to the "two consistency".

　　Coordinate the two overall situations and clarify the mission and tasks of state-owned enterprises.General Secretary of the Supreme Leader emphasized that state-owned enterprises should be the vanguard of implementing new development concepts, innovation-driven development and major national strategies. State-owned enterprises such as central enterprises should be brave enough to be the "source" of original technology and the "chain length" of modern industrial chain. These important expositions provide a fundamental basis for state-owned central enterprises to closely follow the plan of the party and the country.

　　Central enterprises actively implement the general requirements of theme education, and strive to make theme education a process of improving the core competitiveness of enterprises, enhancing core functions, and promoting enterprises to overcome the core technical problems of "sticking their necks". The picture shows that on April 20, 2023, the world’s first variable diameter inclined shaft rock tunnel boring machine "Tianyue" rolled off the assembly line in Changsha No.1 Industrial Park of China Railway Construction Heavy Industry Group. Photo courtesy of the State Council SASAC

　　Adhere to overall planning, strategic layout, and overall promotion, and clarify the methods and paths for doing a good job in state-owned enterprises.General Secretary of the Supreme Leader stressed that it is necessary to deepen the reform of state-owned assets and state-owned enterprises, speed up the optimization and structural adjustment of the state-owned economy, and improve the modern enterprise system with China characteristics; Promoting the reform of state-owned enterprises is conducive to maintaining and increasing the value of state-owned capital, improving the competitiveness of state-owned economy and amplifying the functions of state-owned capital. These important expositions provide a scientific action guide for doing a good job in the work of state-owned central enterprises in the new era and new journey.

　　General Secretary of the Supreme Leader’s important exposition on the reform and development of state-owned enterprises and Party building is scientific and complete in system and profound in content, which is a chapter of Socialism with Chinese characteristics Thought of the Supreme Leader in the new era. State-owned central enterprises should adhere to the combination of comprehensive learning and key learning, improve the whole chain system of implementing the important exposition of the Supreme Leader General Secretary, develop the habit of working under the premise of thoroughly understanding the spirit of the CPC Central Committee, firmly support the "two establishments" and resolutely achieve the "two maintenances", and be a firm believer and loyal practitioner of the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era.

　　Second, the supreme leader Socialism with Chinese characteristics Thought in the new era led the work of state-owned central enterprises in the new era and made great achievements.

　　Since the 18th National Congress of the Communist Party of China, Socialism with Chinese characteristics has entered a new era. State-owned central enterprises have thoroughly studied and implemented the spirit of the important speech and important instructions of the Supreme Leader General Secretary, and promoted the work of state-owned central enterprises to undergo major changes and made remarkable achievements.

　　In the new era, state-owned central enterprises have made great political achievements, and the political nature of the surname of the party for the people has become more prominent.The party’s leadership over central enterprises has been comprehensively strengthened. Central enterprises constantly improve the systems of "the first issue" and "aligning and benchmarking"; Continue to deepen the study and implementation of the spirit of the important speech delivered by the Supreme Leader General Secretary at the National Conference on Party Building in State-owned Enterprises, and compile and study the "two excerpts" and "one reader" of the important exposition of the Supreme Leader General Secretary on the reform and development of state-owned enterprises and party building; Carry out the assessment of the responsibility system for party building for six consecutive years, and promote the standardization and standardization of party building at the grassroots level. Regularly carry out the implementation of the important instructions of the Supreme Leader General Secretary "looking back", strictly observe political discipline and rules, strengthen political supervision, vigorously correct the "four winds", establish a new style, deepen inspection and rectification, carry out special rectification relying on enterprises to eat enterprises, and continuously increase anti-corruption efforts. The anti-corruption struggle of state-owned central enterprises has won an overwhelming victory and consolidated development.

　　In the new era, state-owned central enterprises have achieved significant development results, and the role of the pillar and ballast stone in stabilizing the overall economic and social situation has been fully exerted.The orientation of high-quality development has been clearly established, and the comprehensive strength and operating efficiency of central enterprises have reached a new level, from 2012— In 2022, the total assets increased from 31 trillion yuan to 81 trillion yuan, and the total profits increased from 1.3 trillion yuan to 2.6 trillion yuan; The profit rate of operating income in 2022 was 6.8%, 1.8 percentage points higher than that in 2012; The overall labor productivity was 763,000 yuan/person, an increase of 84.2% over 2012. The kinetic energy of high-quality development has been significantly enhanced, the innovation-driven development strategy has been implemented in depth, the system and mechanism of enterprise scientific and technological innovation have been continuously improved, the deep integration of Industry-University-Research has been promoted, and the problem of "sticking the neck" of key core technologies has been accelerated, and a number of major achievements and landmark projects with world advanced level represented by manned space flight, Beidou navigation, 5G application, domestic aircraft carrier, Hong Kong-Zhuhai-Macao Bridge and Baihetan Hydropower Station have been achieved. The foundation for high-quality development has become more solid, and the layout optimization and structural adjustment of the state-owned economy have been actively promoted. Since the 18th National Congress of the Communist Party of China, a total of 27 groups of 49 central enterprises have implemented strategic reorganization and professional integration, and backward production capacity has been eliminated at an accelerated pace. Non-dominant businesses and inefficient and ineffective assets in the main business have been withdrawn in an orderly manner. The proportion of central enterprises in areas involving national security, the national economy and people’s livelihood has exceeded 70%, and the proportion of investment in the main business and the number of subsidiaries engaged in the main business have both exceeded 90%. In recent five years, the average annual

　　In the new era, state-owned central enterprises have made great achievements in reform and successfully built a number of modern new state-owned enterprises full of vitality.The modern enterprise system with China characteristics is more mature and stereotyped, and the "two things are consistent" is fully implemented, and the party’s leadership is strengthened in improving corporate governance. At the level of the central enterprise group and 12,600 important subsidiaries, the list of pre-research items of party committees (party groups) is comprehensively formulated, the board of directors should be fully completed and the majority of external directors should be basically realized, and the modern corporate governance mechanism is accelerated and improved. The restructuring of the corporate system has been completed in an all-round way, and the definition and classification of the functions of enterprises at all levels of central enterprises have been realized for the first time. Stripping off the social functions of enterprises and solving problems left over from history have accelerated the finishing touches and promoted state-owned enterprises to participate in market competition more fairly. The vitality and efficiency of enterprises have been significantly improved, and the three institutional reforms have broken the ice in a large area and at multiple levels. By the end of 2022, 74,000 managers of central enterprises competed for posts, accounting for more than 60%, 38,000 managers of enterprises at all levels were poorly adjusted and incompetent to quit, and 5,750 subsidiaries of central enterprises had been encouraged in the medium and long term, with a cumulative incentive of 368,000 people. A number of old state-owned enterprises have renewed their vitality and a number of modern new state-owned enterprises have accelerated their growth.

　　In the new era, state-owned central enterprises have made great achievements, which has effectively guaranteed the full play of the strategic supporting role of the state-owned economy.State-owned central enterprises actively play a guarantee role in economic and social development. Resolutely help win the battle against poverty, with a total investment and introduction of nearly 100 billion yuan of help funds, and all 248 key poverty alleviation and development counties that have been helped at designated points have lifted their hats. Overcome difficulties, concentrate resources to ensure the supply and price stability of products such as coal, electricity, oil and gas, and effectively safeguard the safety of people’s power supply, gas supply and heating. Since 2013, a total of 18.2 trillion yuan of taxes and fees have been paid, accounting for about 1/7 of the national tax revenue, 1.3 trillion yuan of state-owned capital gains have been paid, and 1.2 trillion yuan of state-owned capital has been transferred to social security funds. State-owned central enterprises actively play a supporting role in implementing major national strategies. Focus on serving major national and regional strategies, actively promote cooperation between the central and local governments, and sign a total of 4478 strategic cooperation project agreements; Actively participate in the "Belt and Road Initiative". At present, there are more than 8,000 overseas institutions and projects of central enterprises with total assets of nearly 8 trillion yuan. A number of landmark projects such as China-Laos Railway and Piraeus Port have successfully landed, and a number of high-quality products such as high-speed rail and nuclear power have gone abroad. State-owned central enterprises actively play a key role in coping with major risk challenges. Central enterprises have stepped forward in fighting the COVID-19 epidemic and responding to major natural disasters. They have made every effort to provide high-quality services in major events such as the centenary of the founding of the Party and the Beijing Winter Olympics, and fully demonstrated the responsibility of big countries at critical moments.

　　Historical achievements have been made in the reform and development of state-owned central enterprises in the new era for 10 years, which fully confirms the practical power of Socialism with Chinese characteristics Thought of the Supreme Leader in the new era, and makes us more deeply aware of the great significance of carrying out theme education.

　　Third, under the guidance of the supreme leader Socialism with Chinese characteristics Thought Science in the new era, strive to write a new chapter in the new era and new journey of state-owned central enterprises.

　　To carry out this theme education in depth, state-owned central enterprises must firmly grasp the general requirements of "learning ideas, strengthening party spirit, emphasizing practice and building new achievements" On April 21st, the first meeting of the 20th Central Committee for Comprehensively Deepening Reform, chaired by General Secretary of the Supreme Leader, deliberated and adopted the Opinions on Strengthening the Subject Position of Enterprise’s Scientific and Technological Innovation and the Opinions on Strengthening and Improving the Management of State-owned Economy to Support Chinese Modernization, which made important arrangements for strengthening and improving the management of state-owned economy, basing on the mission and functional orientation of the state-owned economy in the new era and new journey, serving to build a new development pattern, promoting high-quality development, promoting common prosperity and safeguarding national security. State-owned central enterprises should adhere to the integration of learning and thinking, the unity of knowledge, belief and practice, build their souls by learning, enhance their wisdom by learning, correct their manners by learning, and promote their work by learning, be firm as executors, activists and doers, keep the right direction, keep the right innovation and work hard, and strive to write a new chapter in the reform and development of state-owned central enterprises on the new journey.

　　Do a good job in the major political tasks of theme education, and build a soul with the supreme leader Socialism with Chinese characteristics Thought in the new era.State-owned central enterprises should do a good job in theoretical study with a progressive attitude, systematically study important documents such as Selected Readings of the Supreme Leader’s Works and Selected Topics of Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era, adhere to the integration of theory with practice, enhance their creative execution ability, and find a good way to govern enterprises and strengthen enterprises through ideological tempering and deep learning and conviction, so as to unite the strength of forge ahead. Consciously grasp the inspection and rectification with the blade inward, insist on learning, comparing, inspecting and rectifying, strengthen the analysis of party spirit, list the problems, carry out the rectification and rectification with the truth, strictly carry out the education and rectification of the cadre team, seriously educate the pure thoughts and strictly rectify the pure organization, and build a team with excellent politics, skills and integrity. Do a good job in investigation and research with a pragmatic style, vigorously carry out investigation and research, start from the most prominent problems and proceed from the most realistic interests, identify the real problems, really solve the problems, better serve the needs of development and the urgency of reform, respond to the expectations of enterprises and the aspirations of the people, and turn learning results into work motivation and performance.

　　Earnestly grasp the primary task of high-quality development and accelerate the construction of world-class enterprises.At present, China’s development is facing new strategic opportunities, new strategic tasks, new strategic stages, new strategic requirements and new strategic environment. The great changes in the world that have never happened in a century have accelerated their evolution, and uncertainties and unpredictable factors have increased. State-owned central enterprises should base themselves on the mission, task and functional orientation of the state-owned economy in the new era and new journey, firmly grasp the general goal of strengthening and improving state-owned capital and state-owned enterprises, firmly grasp the general principle of upholding and strengthening the party’s overall leadership over state-owned enterprises, firmly grasp the general requirement of actively serving the country’s major strategies, and accelerate the promotion of high-quality development. We must maintain our strategic strength, always focus on the "two ways" to improve the core competitiveness and enhance the core functions of enterprises, stick to the foundation of the real economy, stabilize the job of taking charge of the main business, and effectively focus on changing the development mode and improving efficiency and effectiveness, without seeking fame, playing "edge ball" or earning money that should not be earned, speeding up the solution of outstanding problems in science and technology, talents, efficiency and brand, and improving the level of high-quality development ability. It is necessary to ensure strong actions, focus on the "seven sets of combination boxing" of party building guidance, value creation, scientific and technological self-improvement, deepening reform, optimizing layout, improving supervision and keeping the bottom line, accelerate the construction of world-class enterprises, enhance comprehensive national strength with enterprise strength, and firmly become the strategic cornerstone for our party to win the great struggle with many new historical characteristics.

　　Central enterprises combine theme education with the implementation of major central decision-making arrangements, and earnestly do a good job in serving and building a new development pattern. Huangmaohai cross-sea passage is another cross-sea passage project in Guangdong-Hong Kong-Macao Greater Bay Area after Hong Kong-Zhuhai-Macao Bridge and Shenzhen-China Passage. The middle tower of Huang Mao Sea Bridge, which was built by Poly, was successfully capped on April 18th, 2023. The picture shows that on April 17th, workers were working on the pier foundation pile construction of Huang Mao Sea Bridge, a cross-sea passage of Huangmaohai.
Xinhua News Agency reporter Deng Hua/photo

　　We will earnestly do a good job in serving the strategic task of building a new development pattern and give full play to the leading, demonstrating and driving role of central enterprises.State-owned central enterprises should give full play to the backbone role of scientific and technological innovation, highlight scientific and technological output, scientific and technological achievements, scientific and technological transformation and scientific and technological industries, speed up the construction of a practical-oriented scientific and technological innovation work system, promote scientific and technological innovation, industrial innovation and institutional innovation as a whole, firmly break through confidence in innovation, make efforts from both technical supply and demand traction, keep a close eye on the "bottleneck" problem in the supply chain of key industrial chains, concentrate on the original leading scientific and technological research, form a joint force to the maximum extent, and strive to create a "source of original technology". Give full play to the leading role of industrial development, increase investment in the next generation of information technology, artificial intelligence, new energy, new materials, biotechnology, green environmental protection and other industries, accelerate the complementarity in the fields of integrated circuits and industrial mother machines, enhance the ability to shape standards, brands, business models and industrial ecology, accelerate the high-end intelligent green transformation, optimize the layout of the global industrial chain, and better support the smooth circulation of the industrial chain. Give full play to the role of security support, strengthen the capacity building of national defense science, technology and industry, promote the domestic exploration, storage and production of important energy and mineral resources, improve the ability of seed self-control and grain source control, increase investment in new infrastructure construction such as communications, strengthen the layout of backbone power grid, backbone pipe network and national water network, speed up the construction of key passages and important hubs, and effectively play a supporting role.

　　The mission of the new blueprint is on the shoulder, and the new journey is inspiring. State-owned central enterprises should study and implement the important speech and instructions of the Supreme Leader General Secretary on the reform and development of state-owned enterprises and party building throughout the whole process of theme education, touch on spiritualism, always maintain loyalty and strengthen party spirit, keep in mind the mission and practice, work hard and make new achievements, strive to promote the reform and development of state-owned central enterprises in the new era and new journey, and make new progress and achievements in party building, and make new and greater contributions to building a socialist modern country in an all-round way.

In 2025, the treatment of 22 kinds of special diseases for inpatients in Longhua District in the first stage will be enjoyed without application.

　　Shenzhen home appliance subsidy activity time

　　The execution period of the activity is from the date when the system goes online to August 31, 2024. The competent department of commerce in the urban area will, according to the budget use of subsidy funds, timely issue an announcement to close the activities.

　　Application conditions for household appliance subsidies in Shenzhen

　　(A) the requirements of the subsidy object

　　1. Individual consumers who purchase qualified consumer electronics and household appliances in sales enterprises (stores) participating in subsidy activities and obtain sales invoices.

　　2 is included in the "credit China" list of untrustworthy enforcers can not participate in activities.

　　(B) the scope of consumer electronics and household appliances requirements

　　1. Scope of consumer electronic products:Cell phone.

　　2. Household appliances (17 categories) scope:Air conditioners (including central air conditioners), refrigerators (including freezers), washing machines (including dryers), televisions, water heaters (including wall-hung boilers), range hoods, gas stoves (including integrated stoves), dishwashers, floor sweepers, printers, air purifiers, microwave ovens (including all-in-one machines), induction cookers, rice cookers, electric fans, water purifiers and microcomputers (including)

　　3. Requirements for green, intelligent and low-carbon household appliances and electronic products:Products that have been included in the compulsory product certification catalogue shall obtain the compulsory product certification certificate. Products that have been included in the catalogue of energy efficiency (water efficiency) labels shall have an energy efficiency (water efficiency) grade of two or above.

　　Shenzhen home appliance subsidy standard

　　For individual consumers who purchase qualified consumer electronics and household appliances in sales enterprises (stores) participating in subsidy activities and obtain sales invoices, purchase qualified consumer electronics and household appliances.The maximum subsidy shall be 10% of the sales price. The amount of subsidy for a single commodity shall not exceed that of 500 yuan, and the subsidy for a single consumer shall not exceed 2,000 yuan.The sales price of household appliances shall be subject to the tax-included price in the sales invoice of household appliances.

　　1. Scope of consumer electronic products:Cell phone.

　　Shenzhen Household Appliance Subsidy Application Process

　　(1)Consumers are eligible for subsidies for consumption.

　　1. Consumers go to the sales enterprises (stores) participating in the subsidy activities, log in to the "China Unionpay Quick Pass" APP of China UnionPay to enter the activity page, declare their personal information and present the declaration QR code, and receive the subsidy qualification after the store scans the code for confirmation.

　　2. Consumers can directly deduct cash and enjoy subsidies when they show the payment code of China UnionPay "China Unionpay Quick Pass" APP.

　　(2) Instructions on the use of subsidy qualifications

　　The subsidy qualification is valid within 24 hours after receiving it, and it will not be returned if it has not been written off after the expiration, and it will be regarded as a voluntary waiver of the subsidy qualification.

　　Scan the QR code aboveView the list of participating enterprises and offline stores.

Tips: WeChat search WeChat official account [Shenzhen Local Treasure], and reply to [Home Appliances Subsidy] after paying attention to get the amount of subsidies for digital home appliances in Shenzhen, the list of active stores (Huawei/Apple /oppo, etc.), the scope of electronic products and home appliances, the application time of subsidies and how to apply.

Six departments jointly issued a document to empower universities and research institutes.

　　Zhang Guohua, a young teacher in a university in southwest China, has a headache in the preparatory work before applying for provincial, municipal and national projects every year, especially in the budget declaration.

　　The "Several Opinions on Expanding the Autonomy of Scientific Research in Universities and Research Institutes" jointly issued by the Ministry of Science and Technology and the Ministry of Education recently made Zhang Guohua very excited, especially "‘ Milestone ’ Type management and ‘ Contract system ’ The implementation will further loosen the front-line researchers. "

　　Focus on national strategy and empower "key minority"

　　Colleges and universities are an important part of the national innovation system, which play a unique role in basic research, personnel training, discipline construction and frontier exploration, and are the strategic scientific research force of national basic research.

　　"In recent years, Lanzhou University has served as ‘ Expand the autonomy of universities and research institutes, and give innovative leading talents greater control over property and technical route decision-making power ’ ‘ Extraction of incentive funds from stable support for scientific research funds ’ The pilot units have continuously improved the relevant scientific research management system, stimulated the innovation vitality of scientific researchers, and achieved remarkable results. " Xu Pengfei, assistant president of Lanzhou University and executive director of the Institute of Science and Technology Development, said.

　　In Xu Pengfei’s view, a new round of scientific and technological revolution and industrial transformation is booming, and the international competition between basic research and frontier research is becoming increasingly fierce. In the new historical period and new situation, in order to strengthen the "from 0 to 1" basic research, university researchers should aim at major original basic frontier scientific problems and "stuck neck" key core technical scientific problems, carry out collaborative innovation and continuous research, work hard on originality and uniqueness, and comprehensively enhance the original innovation ability.

　　Hou Zhijun, director of the school office of China Geo University (Wuhan), said that the Opinions allow the person in charge of the national scientific research project to adjust the research scheme and technical route independently according to relevant regulations, organize the scientific research team independently, and treat the local talents and overseas talents equally. The distribution of performance pay should be tilted towards key innovative positions, researchers who have made outstanding contributions, outstanding young talents and other groups, giving innovative leading talents greater scientific research autonomy, which will greatly enhance the sense of acquisition of scientific researchers.

　　According to Sun Nan, vice president of the Research Institute of Northwest A&F University, colleges and universities, as an important force of scientific and technological innovation, should give full play to their own disciplinary advantages, actively integrate into the national mission, combine scientific research planning, scientific research tasks and national needs, undertake major national scientific research tasks for the main battlefield of the national economy, play the role of the source of scientific and technological innovation in colleges and universities, produce original results, and contribute to solving the problem of "sticking the neck".

　　Focus on long-term "pain points" and further loosen the shackles for scientific researchers.

　　In recent years, China has continued to deepen the reform in the management of science and technology projects and funds, and the autonomy of scientific research personnel in project management and the use of project funds has continued to expand, which has achieved great results. However, in terms of policy implementation, universities and research institutes still face many practical obstacles.

　　"Expanding the autonomy of personnel has the greatest impact on our team and is also our biggest pain point at present." Zhu Guoqiang, a professor at the College of Veterinary Medicine of Yangzhou University, said that after the personnel management reform, researchers can be liberated from trivial work, and self-employment and preferential treatment can also make young researchers feel at ease.

　　"The Opinions proposes to strengthen the training of doctoral students and high-level talents. I especially hope to increase the protection in the recruitment, introduction and training of postdoctoral researchers." Zhu Guoqiang said that the development of postdoctoral individual scientific research business, the potential of engaging in high-level research and the expansion of high-quality scientific research teachers play an important role in the development of the discipline. For these young people, it is necessary to improve their treatment through appropriate measures, so that they can devote themselves wholeheartedly to scientific research.

　　In terms of optimizing the scientific research management system, the Opinions put forward the implementation of "milestone" management during the project implementation, which made many scientific researchers feel excited.

　　"Implement ‘ Milestone ’ Management, simplify process management, reduce all kinds of process evaluation, inspection, spot check, audit and other work. Integrate the work of science and technology management and the link of material submission, realize multi-purpose of one form, effectively reduce the burden of scientific research personnel, and liberate scientific research ‘ Cousin ’ ‘ Cousin ’ 。” Hou Zhijun said that the implementation of the "contract responsibility system" has improved the procurement management of equipment and consumables for scientific research. For equipment and consumables urgently needed for scientific research, the procurement mechanism of special handling and on-call handling can be adopted, so that the bidding process can be avoided and the funded equipment can serve people, not artificially funded equipment.

　　Based on systematicness and wholeness, it emphasizes "landing"

　　The introduction of the policy is only the beginning, and the key lies in implementation. The "Opinions" clearly stated that the departments of science and technology and education should improve the supporting system in a timely manner with relevant departments such as organization, institutional establishment, development and reform, finance, human resources and social security.

　　"The Opinions focus not only on a specific field of scientific and technological system reform, but also on the systematicness, integrity and coordination of scientific and technological innovation policies, and put forward 14 specific reform measures from four aspects, which made a good response to the long-standing pain points of scientific research management, effectively linked the previous scientific and technological reform policies, and highlighted the implementation of the policies, reflecting the sincerity and determination of the Chinese government to reduce the burden, empower and empower researchers through decentralization." Hou Zhijun said.

　　According to Han Xiaoning, deputy secretary of the Party Committee of the School of Journalism, Renmin University of China, the implementation of scientific research autonomy needs to improve the supporting system, and any small part of it may not be fully implemented.

　　Han Xiaoning said that to implement the expansion of scientific research autonomy, more specific implementation rules are needed, such as clarifying who will take the lead and how to establish a linkage mechanism including scientific research project management, personnel management and financial management.

　　"In terms of specific implementation, we must also emphasize the equivalence of powers and responsibilities, strengthen internal process control, and improve the risk assessment mechanism." Hou Zhijun said that in terms of performance, a lifelong accountability system for performance should be implemented. At the same time, improve the scientific research credit system, while emphasizing decentralization and burden reduction, pay attention to the balance of policies, and make a series of arrangements in effectively regulating the operation of autonomy to ensure that autonomy can be accepted, used well and without accidents.

　　Sun Nan believes that in the process of implementing the Opinions, universities and research institutes should further emancipate their minds, change their concepts and make full use of policies. "Management autonomy often involves many departments, such as people, property and so on. It is necessary to strengthen overall coordination within the school, and multiple departments should keep pace in order to truly implement it. Therefore, we should pay attention to optimizing management details and releasing vitality from system regulations and work processes." Sun Nan said. (Trainee reporter Liang Dan reporter Dong Lu Xiaolong)

Attention! The National Disease Control Bureau issued a notice to take precautions in advance.

The National Bureau of Disease Control and Prevention issued a notice on April 27th, asking all localities to do a good job in the prevention and control of key infectious diseases such as Covid-19 infection in spring and summer.

The notice pointed out that May coincided with the turn of spring and summer, and some mosquito-borne infectious diseases and intestinal infectious diseases entered the high season. The increase in personnel mobility and gathering activities during the May Day holiday may increase the risk of spreading infectious diseases such as COVID-19. At present, the epidemic situation of infectious diseases in China is generally stable. The global epidemic caused by JN.1 mutant in Covid-19 has peaked and dropped to a low level. The COVID-19 epidemic in China has maintained a low-level wave epidemic trend, but Covid-19 is still mutating, and the epidemic still has some repetitiveness. The prevention and control of some infectious diseases in China is facing new situations and new features. In some areas, the influenza epidemic has not fallen back to the same period of last year, and the pertussis epidemic has shown a rapid growth trend. The number of reported cases of hand, foot and mouth disease has increased significantly, and the common epidemic of multiple diseases has become the norm. Dengue fever and measles have rebounded in many countries and regions around the world, and the risk of importing overseas epidemics into China has increased.

The Notice highlights seven major measures.

The first is to strengthen the prevention and control of epidemic situation at ports. Pay close attention to the epidemic situation of COVID-19, dengue fever, measles, malaria and other key infectious diseases around the world, implement measures such as temperature monitoring, medical inspection, epidemiological investigation and medical investigation for entry-exit personnel, do a good job in Covid-19 nucleic acid sampling for entry-exit personnel, and strengthen health education for entry-exit personnel.

The second is to strengthen monitoring, early warning, investigation and disposal. We will continue to implement multi-channel monitoring and multi-pathogen monitoring of respiratory infectious diseases in COVID-19, strengthen monitoring and early warning in combination with the epidemic characteristics of infectious diseases in spring and summer and local conditions, and carry out comprehensive analysis and judgment on the epidemic situation. Timely investigation and disposal after the outbreak.

The third is to strengthen the medical treatment of infectious diseases. Prepare for medical treatment, strengthen the training of medical personnel, strengthen the management of medical services, strengthen the implementation of the first consultation responsibility system, and send experienced medical personnel on duty to ensure the smooth and orderly medical services.

The fourth is to strengthen vaccination. Focusing on the core goal of the national immunization program that the vaccination rate is not less than 90%, we will strengthen the monitoring and evaluation of the vaccination rate and seriously organize the work of leak detection and replanting. Promote timely and full vaccination of school-age children with the national immunization program vaccine, and continue to promote vaccination of key populations with Covid-19 vaccine containing XBB mutant antigen.

The fifth is to strengthen epidemic prevention and control in key institutions. Guide kindergartens and schools to implement measures such as morning and afternoon check-up, health education, environmental disinfection, and tracking and registration of absenteeism due to illness. Guide the old-age care institutions and social welfare institutions to strengthen the management of foreign visitors, the elderly and children going home and returning to hospital, and reduce the risk of introduction and spread of the epidemic.

Sixth, strengthen the epidemic prevention and control of travel and tourism activities. According to the change of passenger flow, the passenger station will increase or open the entrance and exit stations and security channels in time, and guide passengers to enter and leave the station in an orderly manner and wait for the bus (ship, plane). Tourist attractions timely and dynamically divert passenger flow to avoid large-scale gathering of people in indoor venues. Accommodation and catering service units strengthen food hygiene and safety management.

Seventh, strengthen publicity and education. Carry out targeted publicity and health education on prevention and control knowledge, guide travelers to know the epidemic situation of infectious diseases in the destination in advance, and advocate people with respiratory symptoms such as fever and cough to avoid participating in group activities or going to crowded places.

Original title: "Attention! The National Disease Control Bureau issued a notice to take precautions in advance. "

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Huayi teamed up with Ali Tencent to raise 3.6 billion yuan and will shoot 31 new films in the next three years.

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Wang Zhongjun, Chairman of Huayi Brothers (right) and Ma Yun, founder of Alibaba (data map)

　　 1905 movie network news On the evening of November 18th, Huayi Brothers announced that it had raised no more than 3.6 billion yuan from four issuers, including Hangzhou Ali Venture Capital Co., Ltd. (hereinafter referred to as Ali) and Shenzhen Tencent Computer System Co., Ltd. (hereinafter referred to as Tencent), through non-public issuance of A shares. Among them, 3.1 billion will be directly used to invest in film and television projects, and Huayi Brothers promised to use this fund to complete the production of 31 films within the specified three years.

　　 In addition to the simple private placement cooperation, Huayi Brothers also revealed in two announcements on strategic cooperation that the company will carry out mutual and deep cooperation with Ali and Tencent respectively, including Taobao, Entertainment Treasure, tencent games and other platforms. In addition, Huayi also reached an agreement with these two issuers to release a certain amount of investment in "Huayi Film Works" for their participation.

　　 So far, Huayi Brothers has completed the largest financing business in the film industry in 2014. With this issuance, Huayi successfully joined hands with companies such as Ali and Tencent, further promoting the company’s layout in the Internet field.

Huayi financing 3.1 billion: 31 films completed in 3 years.

Ali and Tencent each received 10% of the shares.

　　 For some time, the discussion about Huayi’s "de-filmization" strategy has continued to ferment. Some people are optimistic about using this method to expand the territory and realize industrial integration; Some people think that Huayi is "doing nothing", which leads to a decline in performance. Now it is announced that it has reached strategic cooperation with Internet companies Ali, Tencent, Ping An Asset Management Co., Ltd. and CITIC Construction Securities Co., Ltd. from the financial industry. Huayi’s move can be described as "killing two birds with one stone": not only did it not neglect the original multi-layout plan, it successfully broadened the company’s resource channels in film and television, games, e-commerce, finance and other fields, but also raised 3.1 billion yuan for film and television project production, which provided a solid guarantee for the company’s next big move in film and television. According to the analysis report on the use of raised funds issued by Huayi, the company promised to use this fund to invest and produce movies and TV series in the three years from January 2015 to December 2017. Among them, there are 31 films, and the investment will account for nearly 60% of the total, including 12 super-large films, 12 large-scale films and 7 small and medium-sized films.

　　 Among the four companies participating in this non-public offering subscription, the cooperation between Ali and Tencent, two companies from the Internet industry, and Huayi is far from simple private placement. In addition to the deep cooperation with the superior resource "new media" platform, Huayi also reached an agreement with them to release 5%-10% of total investment of the project’s "Huayi Film Works" for Ali and Tencent to participate in the project, and completed the production and distribution of five films with the two companies within three years from the effective date of the agreement.

Join hands with Ali: Entertainment Bao participates in the operation of 10 Huayi projects.

Taobao takes the lead in derivatives promotion platform.

　　 Ali plans to subscribe for Huayi shares this time for 1.533 billion yuan, accounting for 42.5% of the total amount raised. It is not difficult to see from the strategic cooperation announcement that the cooperation between the two parties involves many aspects of the company’s business. First of all, Huayi’s film works will officially enter Ali’s "Entertainment Treasure" in the next three years, and the two companies will jointly select 10 films and adopt this product model for production and distribution. Undoubtedly, the highly targeted business attributes and a large number of user data resources of "Entertainment Bao" will make Huayi, which has just set up a new media interactive platform and is focusing on developing a "fan economy", even more powerful.

　　 Another cooperation is related to Ali’s most popular "Taobao". As early as 2012, Huayi began to test the water film derivative model and regarded it as a powerful performance growth point. According to statistics, in the last three years, Huayi’s movie and TV drama business and its derived income totaled more than two-thirds of the total revenue. In order to continue to focus on creating a brand-new interactive system that combines traditional media with Internet finance and e-commerce, Huayi will give priority to the cooperation of e-commerce platform with Ali on its derivatives with relevant rights. For the cooperative film [Note 4], Huayi will give priority to Taobao for online ticketing sales cooperation. The ticket sales and O2O business of Huayi’s real-life entertainment theme park will also be promoted on this platform.

Cooperation with Tencent: the priority of star IP adaptation is shared by both parties

Realize the common content of movies, literature and online games.

　　 Compared with the multi-point cooperation with Ali, the purpose of cooperation between Huayi and Tencent is much simpler and more direct, that is, sharing the star IP resources of both parties. In the next five years, under the same conditions, Tencent must give priority to Huayi’s online games or literary works for which it enjoys relevant rights. In return, all the online games, online literature and animation adaptation rights of Huayi’s film and television works will also be given priority to Tencent. For Huayi, this seemingly independent content cooperation project also undertakes the important task of exploring new ways of cooperation between Huayi’s game business and tencent games platform, and provides help for the company’s game business that needs to be developed urgently.

　　 Huayi has been trying to deploy its interactive entertainment business group. This time, the establishment of a priority cooperation mechanism between movie IP and Tencent literature and game IP, and the opening of IP rights circulation channels between the two sides to achieve common content will help to bring into play the synergy between the company’s businesses, provide great impetus for the company to establish an internet entertainment network ecosystem, and help enterprises further improve the industrial chain layout.

[Note 1] Private placement: that is, non-public offering, offering shares to specific investors, which is also commonly known as private placement.

[Note 2] Huayi’s film works refer to film projects which are developed and produced by Huayi, controlled by Huayi, and which enjoy the decision-making power of investment arrangement.

[Note 3] Derivatives of which Huayi enjoys relevant rights: including the related derivatives of its contracted artists developed by Huayi and enjoying relevant rights, and the derivatives of which Huayi enjoys the right to develop related derivatives.

[Note 4] Huayi and Ali co-produced films: namely, 10 entertainment treasure co-produced films, 5 co-produced and distributed films and Ali participated in the film.

Focusing on National Park Legislation ｜ Protecting the Return Road of Tiger and Leopard in Northeast China

Xinhua News Agency, Changchun, September 17th (Reporter Shao Meiqi, Sun Yixuan) In the monitoring and research center of Northeast Tiger and Leopard in National Forestry and Grassland Administration, Hunchun City, Jilin Province, real-time pictures of the forest were played on the intelligent big screen, and scenes such as a family of Northeast Tigers walking and a leopard hunting with their baby frequently appeared, showing the vitality of this ecological paradise.

"Last year, at least 20 Siberian tiger cubs and 15 Siberian leopard cubs were born in the Northeast Tiger and Leopard National Park, and the range of activities of the Northeast Tiger and Leopard population was further expanded." Feng Limin, deputy director of the center, said.

Wild Siberian tiger photographed by infrared camera in Northeast Tiger and Leopard National Park. Xinhua news agency

According to the latest monitoring data, there are about 70 wild Amur tigers and 80 wild Amur leopards living in the park. Behind the Tiger Whistling Forest and the Leopard Leaping Castle Peak is the Northeast Tiger and Leopard National Park, which continues to protect wildlife and restore the habitat of the Northeast Tiger and Leopard.

On the 10th, the draft national park law was first submitted to the the National People’s Congress Standing Committee (NPCSC) meeting for deliberation. This is the first time that China has made special legislation on national parks at the national level.

Feng Limin was deeply excited. Since he first set foot in the northeast forest region in 2006, Feng Limin and the scientific research team have carried out monitoring and protection work for more than ten years in Northeast China, witnessing the step-by-step development of tiger and leopard protection.　　

In the Northeast Tiger and Leopard National Park, intelligent infrared cameras can be seen everywhere. Tens of thousands of camera terminals converge into a "sky-ground integrated monitoring system", which can not only send back pictures in real time by networking and analyze them with artificial intelligence technology, but also realize real-time early warning and grasp the specific location of wild animals.

Wildlife conservationists are watching the wild Amur leopard images taken by infrared cameras. Xinhua News Agency reporter Si Xiaoshuai photo

In recent years, the Northeast Tiger and Leopard National Park has actively guided residents to engage in ecological management and protection such as forest management and resource monitoring, and guided indigenous residents to develop alternative industries in various ways to promote the transformation of production and lifestyle.

During the summer vacation, the northeast Tiger and Leopard National Park Stealing and Hunting Warning Center in Wangqing County, Jilin Province ushered in a unique research activity. The museum not only meets the audience’s demand for nature education through traditional forms such as promotional videos and specimen displays, but also helps the audience to immerse themselves in understanding through VR interaction and other scientific and technological means.

"How cool!" "I will also protect the Northeast Tiger in the future!" "The patrol uncles have made great efforts!" Students will sign their names on the big screen of wisdom, and the generation of a leaf represents the commitment to ecological protection.

Ma Fujiu, deputy director of Wangqing Branch of Northeast Tiger and Leopard National Park Administration, said: "There are laws to follow and evidence to follow. We can do better research on popular science under the premise of protection, further improve people’s participation and enhance public service functions."

"The ultimate goal of protection is to benefit the masses. Through the establishment of the legal system, the development of industrial transformation, the popularization of ecological education, and the innovation of scientific and technological means, the living space of tigers can be fully reserved, the development space of people can be well protected, and the harmony between people and tigers can be truly realized. " Chen Xiaocai, director of the comprehensive department of the Northeast Tiger and Leopard National Park Administration, said.

Jaguar XEL is back! A model for family car appeal

If you don’t consider the later cost of the car when you buy it, you will regret it later. For example, today’s performance in this area is worth mentioning. As for the outstanding performance of this car, please take a look at it together.

First of all, from the appearance point of view, the front face design of Jaguar XEL is very personalized. The middle net uses a black mesh shape, which looks more individual and flamboyant. At the same time, the headlights show a fashionable and generous design style, and the shape is very eye-catching. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing, etc. To the side of the body, the body size of the car is 4778MM*1850MM*1429MM, the car adopts a flamboyant line, and the side gives a very simple and generous feeling. With large-sized thick-walled tires, it leaves a feeling of very domineering and stylish. At the rear of the car, the rear line of the Jaguar XEL is clean, and the tail lights are very individual and flamboyant. The sense of neatness is in front of

Sitting in the car, the interior of the Jaguar XEL looks very domineering and stylish, and the overall design is very clean. The steering wheel of the car is beautifully designed, and it is made of genuine leather, which looks a little more avant-garde. Let’s take a look at the central control. With the 10.25-inch touch LCD central control screen, the interior design is quite layered and in line with the mainstream aesthetic. The dashboard and seats are also eye-catching. The dashboard design is remarkable, and the sports atmosphere is created in place. The car adopts imitation leather seats, equipped with functions such as electric adjustment of the auxiliary seat and electric adjustment of the seat, and the overall comfort is acceptable.

The Jaguar XEL is matched with a manual integrated (AT) gearbox, with a 100-kilometer acceleration time of 7.3s. The power performance is good, and it meets the needs of daily use.

The rear compartment of the Jaguar XEL performs reasonably well, and if some larger objects need to be installed, the rear seats also support proportional reclining, which is sufficient for household use. In addition, the car is equipped with fatigue reminders, anti-lock brakes (ABS), LED daytime running lights, brake assistance (EBA/BAS, etc.), braking force distribution (EBD) main driver airbags, passenger seat airbags, side air curtains, front side airbags and other safety features.

The Jaguar XEL introduced today is not only eye-catching in terms of space, but also has reached the mainstream level in various configurations. The driving experience and space experience are not picky. I believe this car will definitely give you and your family a good experience.

Geely Star Wish configuration information exposed

A few days ago, Geely announced the configuration information of Star Wish Car. The car launched a total of 5 models, with a pre-sale price range of 7.88-10 7,800 yuan.

Autohome

Geely Star Wish Entry to enjoy the leapfrog experience. Star Wish 310km Youth Edition pre-sale price 78,800, comprehensive battery life 310km can meet daily commuting needs, the battery adopts Ningde Times battery + liquid cooling system, which can achieve the highest charging rate of 1.66C, fast charging 10 minutes to make up 120 kilometers. The entry version is equipped with the same level of unique independent suspension + rear drive, the only self-developed 11-in-1 intelligent electric drive in the same level is small in size, light in weight, high in efficiency, 16-inch 205 tires for a limited time. In terms of intelligence, the Star Wish 310km Youth Edition comes standard with Galaxy Flyme Auto, built-in 750 version Autonavi map with traffic light countdown function, supports Flyme Link, Huawei HiCar, CarLink and other handcar interconnection, voice interaction full scene can be seen, there are also skin-friendly leather seats, 70L large front trunk, 3.3kW external discharge and other configurations. It is worth mentioning that Geely Star Wish Hologram comes standard with a number of safety configurations such as the Aegis battery safety system, the Star Armor cage body, the "5 vertical and 8 horizontal" force transmission frame structure, and the clover release protection architecture.

Countdown to the finale of ＂Shake＂, Yang Mi ＂blackened＂ blood abuse

"Shake"

With the arrival of the new week, starring Yang Mi and Ruan Jingtian, Liu Yijun and Wang Jinsong in particular, Gao Weiguang, Lai Yi, Zhang Yaqin, Hu Ke, Gao Hanyu, Huang Youming, Li Yixiao, Jiang Long and other co-starring women’s inspirational drama "Shake" will continue to land on Zhejiang Satellite TV China Blue Week broadcast theater at 22:00 today, and continue to unlock the legend of the five continents.

Last week, Fuyao pretended to be Jiang Feng and worked a trick with Wuji to join hands with Zhan Nancheng to help Zhan Beiye win the throne of Tiansha. After that, the "Wufu CP" moved to Xuanji Kingdom to investigate the inside story of the depletion of the abyss. Fuyao "repeated the old trick" pretending to be Zong Yue, in order to inquire about the news, and the princess of Xuanji, who continued to play and be possessed by netizens, was ridiculed by netizens as "Wuzhou transformed into a boss". In addition, the enmity between Duke Qi Zhen and Zong Yue and Yunhen brothers was completely ended, and Duke Meng’s "collar bento" was permanently offline, which made the audience reluctant to part. Zhan Beiye and Yalanzhu’s "Azure Blue CP" kept the clouds open and saw the moon, which was gratifying, and couldn’t help but show "aunt laughing".

It is reported that this week, Fuyao will completely uncover his "mystery of life experience" in the palace of Xuanji, not only will he recognize his biological father, but also he will mention "Xuanji female monarch" as the lord of a country. The map of the Kingdom of Heavenly Power will also be opened again. The eldest grandson of the "monarch and emperor" passed away, the prince of Wuji ascended the throne, and the four kingdoms of the five continents completed the "great change of the throne". The plot is eagerly anticipated.

Yang Mi Ruan Jingtian realized the "king" explosion, Xuan Ji Tianquan each had "difficult scriptures"

With the advance of Fuyao’s "trip to the five continents", the past stories of the royal families of Taiyuan, Tianquan, Tiansha, and Xuanji on the five continents have also been brought up one by one, which can be said to be "a scripture that is difficult for every family to read". In the chapter of Taiyuan, Zong Yue and the Duke of the country are unlocked. In the chapter of Tiansha, the inside story of Zhan Nancheng’s tampering with the last edict of the king is revealed. In the plot last week, Fuyao recalled her childhood many times in the Xuanji Palace, indicating that she must have a relationship with the Xuanji royal family. Just as the mystery of her life was about to be revealed, Fuyao was once again framed by Fu Lian and was caught in the "murder of the eldest queen" storm, which made countless netizens worry.

This week, Fuyao will officially uncover his "mystery of life experience". Not only will he recognize his biological father, but he will also recover all his memories and regain the childhood memories that accompanied his acquaintance with Wuji. At the same time, along with the announcement of his identity, Fuyao will also ascend to the throne of the Queen of Xuanji Kingdom, and he will like to mention "Xuanji Female Monarch".

In addition, the secrets of the royal family of the Heavenly Power Kingdom were also exposed because of the "German King"’s army to force the palace. Why did the "Emperor Father" and the eldest grandson work so hard for so many years to set up a "dead end"? How will the bloody storm of the Heavenly Power Imperial City come to an end? How will the eldest grandson Wuji face the killing of his relatives? What pains and bumps will the road to the throne encounter?

"Shake"

Yang Mi’s strength "heals" Ruan Jingtian, and the "Five Blessings CP" has upgraded its fatalistic killing force

In the plot that has been broadcast, Fuyao shows the image of "real female strength" that is different from the previous ancient costume heroine dramas. She is sincere and kind, has a heart for life in five continents, and is also a significant other who is tough and strong enough to let the eldest grandson Wuji rest assured to entrust his back to her. It is reported that this week, Fuyao will once again become the backbone of "Wufu CP", carrying the banner of "healing system", accompanying and encouraging Wuji throughout the process when he encounters confusion and pain, and even swallowing poison to protect Wuji’s mother’s life. How will Fuyao, who swallows poison, escape danger? What happened to Prince Wuji, who has always been calm and self-contained and strategized, and "doubted life"?

In this week’s plot, Fuyao will not only unlock the two seals in a row, but also learn the truth of "the five-colored stone girl is the demon girl of the five continents" and "only the eldest grandson Wuji can kill the demon girl to save the five continents". The "Five Blessings CP" is destined to kill each other, and the fate of evil has become a reality, and the sadism continues to escalate. The people of Wuzhou and the love in their hearts, how will Fuyao choose? With the seal of Fuyao being unsealed, the "black countdown" of Fuyao has also quietly opened, and the fate of the "Five Blessings CP" will be? Lock in the China Blue Week broadcast theater of Zhejiang Satellite TV at 22:00 every Monday to Thursday, and the excitement will continue, not to be missed!

[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.

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