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Chongqing Broadcasting Network, November 10 (Reporter Wang Hai) On November 8, Yuan Hua, a policeman from Hefeng Police Station of fengjie county Public Security Bureau in Chongqing, was involved in a traffic accident while escorting a suspect to identify the scene. After being rescued, he died in the line of duty at the age of 28.

Yuan Hua’s heroic sacrifice touched the hearts of teachers and students of his alma mater, Chongqing Police College. Everyone recalled his life, without tears, and recalled and mourned the circle of friends between teachers and students of the Police College.

Rui Liu, a team leader of the Student Affairs Office of Chongqing Police College, who used to be the head teacher of Yuan Hua, told the reporter that Yuan Hua was determined to join the police and took the college entrance examination three times until 2013. What impressed him was that in September of that year, when Yuan Hua participated in military training, it was in the scorching sun, and the military posture lasted for an hour or two, although he was still sweating; Before and after practice, I often fall black and blue, and I never complain that I am tired. Practice crawling and other tactical actions. The clothes are worn out, and the hands are bloody, and the teeth are clenched. The classmates advised him to take it easy, and he smiled: I can overcome this pain!

Group photo of graduation of the 3 rd District Team of the 2017 Investigation Brigade of Chongqing Police College (Photo courtesy of Chongqing Police College issued by Yangguang. com)

During Yuan Hua’s stay in the police station, his team in the third district couldn’t get on the house, so he took the initiative to stand up and took pains to teach everyone to fold quilts into "tofu blocks" and tidy things up more neatly. Since then, the team in the third district has won the "flowing red flag" for many times, and Yuan Hua’s dormitory has been rated as "civilized dormitory". Chen Jiaojiao, a teacher of the Management Brigade of the Training Department of Police College, said that Yuan Hua had a strong sense of collective honor, and it was his dedication and responsibility that won these honors.

Cheng Cong, a policeman from Yongle Police Station of fengjie county Public Security Bureau, is a classmate of Yuan Hua Police College. He said that there are many excellent qualities worth learning from Yuan Hua. After four years in college, Yuan Hua worked hard and his grades were always among the best in his class. During the preparation for the public security joint exam, he got up early every day and soaked in the library. When he was thirsty, he drank a bottle of mineral water, and when he was hungry, he chewed a loaf of bread, and also helped other students improve their professional knowledge. Some students can’t keep up with their physical fitness. He volunteered to be a sparring partner, led them in middle and long distance running, back and forth running, pull-ups, etc., and corrected everyone’s posture and movements with his heart. With his hard work, all the students succeeded in their physical fitness assessment. Students ask, we are competitors, aren’t we afraid of being surpassed? He said with a smile, as long as the students can pass smoothly, I am willing to be their paving stone.

Group photo of Chongqing Police College students (Photo courtesy of Chongqing Police College issued by Yangguang. com)

Luo Xiaoguang, who once shared a dormitory with Yuan Hua, told reporters that when he was a freshman, Yuan Hua met an old man in rags outside the school and asked people around him for help, saying that he had lost his wallet and mobile phone and needed 20 yuan to go home. Passers-by dispersed one after another, thinking that the old man was cheating. Yuan Hua took the initiative to come forward, carefully consulted and asked, and handed the 50 yuan money to the old man. Passers-by laughed at him for being stupid, but Yuan Hua said, I can’t treat everyone with suspicion. What if it’s true? I want to feel at ease myself.

At the beginning of 2016, Yuan Hua went to the Petroleum Road Police Station of Yuzhong District Public Security Bureau for an internship. The teacher who took him was Liu Wenhua, a policeman. He commented on Yuan Hua: The young man is energetic and aggressive, and he is a good prospect! After half a year’s internship, Yuan Hua lived and ate in the institute. He followed Liu Wenhua on duty for 24 hours, visited and investigated, patrolled for prevention and control, and mediated contradictions and disputes. There were comrades in the institute who needed help at work, and he always accepted it cheerfully.

One night in late October, 2016, Liu Wenhua led his comrades-in-arms to crouch and arrest a criminal suspect for more than five hours. As soon as the suspect appeared, Yuan Hua was the first to rush up and throw him to the ground, searched him cleanly and handcuffed him. Liu Wenhua said with emotion, I didn’t expect a police cadet to show a heroic spirit!

Students take a photo with the school gate of Chongqing Police College (Photo courtesy of Chongqing Police College issued by Yangguang. com)

"Today we are ready-made reserve police, and tomorrow we are the immortal backbone of China ruled by law!" This is your solemn oath in your graduation speech in 2017. Unexpectedly, after four years as a police officer, your beloved career has just started, and your life is beginning to be wonderful, but everything comes to an abrupt end … You are only 28 years old, my good brother! Yuan Hua’s alumnus, Wen Hao, a policeman from the Political Department of Beibei District Public Security Bureau, recalled that this scene was still difficult to calm down.

The alumni of Chongqing Police College said that they felt sorry for their brothers and were even more proud of them. After seeing their heroic deeds, I realized the true meaning of the phrase "You are proud of the police station now, and your police station will be proud of you in the future" at the beginning of the school. The younger brothers and sisters of the police station will follow your example and work hard and forge ahead.

The voice and smile are still in sight, and now heaven and man are separated. I’m proud of you! The alumni of Chongqing Police College held graduation photo in their hands, and it was hard to restrain their grief. The training assembly scene in that year was vivid in front of them. In the future, the name will be called. "Chongqing Police College’s 2013 Class III team should have 42 people, actually 41 people, and one person died in the line of duty!"

Yuan Hua, have a good trip!

We will follow in your footsteps!

　　From May 21st to June 13th, 19 enterprises including () (603392.SH), () (605337.SH) and () (300485.SZ) successively indicated on the investor platform that there was no synthetic biology related business or application (see Figure 1) for the time being, mainly because there was no technical reserve or none.

　　In sharp contrast to the cautious attitude of these enterprises towards synthetic biology, in the last two months, the concept stocks labeled with synthetic biology in the secondary market have soared.

　　The data shows that in the past 60 days, nearly 40% of the 27 synthetic biology concept stocks have risen. Among them, () (301301.SZ), () (603739.SH) and () (002773.SZ) led the way, with increases of 39%, 29% and 29% respectively. Seven stocks rose more than 5% (the opening price on June 18th).

　　This large group increase in share prices is considered to be driven by favorable policies. At the end of April, at the annual meeting of Zhongguancun Forum, Tan Tianwei, an academician of China Academy of Engineering, emphasized that bio-manufacturing is a very important new track and new format for new quality productivity. Led by the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and other national ministries and commissions are jointly developing a national action plan for biotechnology and bio-manufacturing, which is expected to be introduced in the near future.

　　Synthetic biology is not a new concept, it was first born in early 2000, and it is considered as the "third life science and technology revolution" after the discovery of DNA double helix structure and the human genome project.

　　To put it simply, the way of synthetic biology is to transform the genes of microorganisms such as bacteria, so that they can produce raw materials needed by human beings in metabolism, such as plastics, food or medicines, which can be applied to medical treatment, environment, health, energy, food, agriculture and other industries. This mode of production is often more environmentally friendly than traditional chemical methods, or it can produce new products that cannot be realized by chemical methods.

　　This is not the first time that synthetic biology has set off a market boom. The last wave of capital influx was in 2021, when there were 458 financing events in the field of synthetic biology in China, and the financing amount reached 113.6 billion yuan, all of which were the highest level since 2019.

　　At that time, Ginkgo Bioworks and Zymergen of the United States successively landed on NASDAQ. Both companies are platform-based enterprises that provide synthetic biology technology, and their listing also drives domestic hot money to flood into synthetic biology start-ups.

　　However, in less than three years, the three giants of American synthetic biology were almost wiped out, and the related investment and financing also fell to freezing point.

　　Amyris, the world’s first synthetic biology listed company, was once famous for producing artemisinin by using synthetic biology technology. However, after the development of bio-fuel products failed, it expanded its cosmetics raw materials and other businesses on a large scale, and its debts snowballed until the bubble burst, and it went bankrupt and liquidated in 2023.

　　Also in 2023, Zymergen went bankrupt. At first, it only focused on the development of strains. Later, it turned to the development of products, and chose an optical film Hyaline, which can be used in electronic products such as folding screens. However, mass production failed, and the entire synthetic biology sector in the United States plummeted. Zymergen was acquired by Ginkgo Bioworks after bankruptcy.

　　However, the surviving Ginkgo Bioworks is hard to say success. They insisted on making technology instead of products, and their market value fell by 92%, and their stock price was as low as 0.99 US dollars. In May 2024, they received a warning of delisting.

　　Industry martyrs have proved with painful reality that the concept of synthetic biology is very popular, but it is difficult to do business in this crater-selecting products, mass production, and developing business models. One wrong step may lose the game.

　　Who is the real synthetic biology enterprise?

　　Many practitioners said that enterprises in China are concentrated in the downstream field of synthetic biology, product-oriented, and there are few platform-based enterprises that provide technology.

　　A reference perspective is that, as an instrument supplier, synthetic biology is one of the fastest growing sectors of Agilent’s business in China, and its customer business focuses on bulk chemical raw materials, food additives, pharmaceutical and cosmetic raw materials.

　　Figure 2 shows the top ten companies in the synthetic biology concept stocks, and they are also the players that the market thinks are more promising, including Huaheng Bio (688639.SH), Huaxi Bio (688363.SH), Tebao Bio (688278.SH), Kaisai Bio (688065.SH) and () (600298.

　　These enterprises entered the field of bio-manufacturing earlier and firmly occupied the leading position in the subdivision track.

　　Huaheng Bio’s global market share of alanine exceeds 50%; Huaxi Bio is the largest supplier of sodium hyaluronate in the world, accounting for 44%. The long-chain dibasic acid produced by Kaisai Bio-accounts for 90% of the global market share.

　　Companies with stock prices in the top ten generally have two characteristics: one is mature products, and the other is rich experience in mass production.

　　A technician who has been engaged in synthetic biology research for many years said that when a company has made clear the synthetic biology methods used, it still needs to solve the problem of mass production. This is called "crossing the Death Valley from lab (laboratory) to fab (factory)" in the industry, and it will be scaled up to the industrial level after small-scale and pilot-scale tests.

　　In the research and development stage, the screening of strains is the key, and the characteristics of chassis cells should be studied for many years. In industrial scale-up, it is necessary to control fermentation temperature, time, dissolved oxygen and miscellaneous bacteria pollution more precisely, and the difficulty coefficient increases exponentially. After the problems appear, we should go back to the most basic strain optimization, reconstruct the metabolic pathway, and repeat it many times to achieve a breakthrough in strain tolerance and yield.

　　Gong Mo, general manager of Lingdao Capital, vividly explained the differences in each stage. It takes several years or even more to do basic research in the laboratory, and it is enough for a doctor to graduate after entering the pilot stage, which requires at least five years and tens of millions of dollars. It’s not a sudden idea that can be realized immediately. She said that investors are more optimistic about the team with long-term experience in basic research and industrialization. This kind of industrialization experience is best accumulated in downstream separation, extraction and purification.

　　Different industries have different definitions of "mass production". For example, the overall demand for cosmetic raw materials is small and the unit value is high. Therefore, the pilot scale is kilograms per year and the mass production is tons. For the chemical and material industries with large demand and low unit value, the pilot scale is at least 1,000 tons, and the mass production is calculated based on an annual output of one million tons.

　　The ability of mass production is so critical that after the concept of synthetic biology broke out in 2021, many enterprises raised funds mainly for building new industrial lines and expanding production capacity.

　　See the direction of the enterprise from the location of the new factory. In coastal areas such as Yancheng, Tianjin and other places, factories are mainly built by enterprises with small mass production scale and products going to sea. There is sufficient wind power in the local area, which is convenient for export and sales near ports. Enterprises with larger production capacity will directly choose places such as Xinjiang and Inner Mongolia where raw materials such as electricity, energy and corn are cheaper.

　　Among the concept stocks, Huaheng Bio has completed the expansion of Qinhuangdao and Bayannaoer bases, with the current production capacity of 100,000 tons and 50,000 tons. In addition, it has built a new material production base with a production capacity of 100,000 tons in Chifeng, Inner Mongolia.

　　Kaisai Bio’s 100,000-ton bio-based polyamide production line in Wusu production base in Xinjiang has been put into production. Huaxi Bio’s Tianjin plant has been put into production, and 64 pilot production lines are planned to be built. The overall production capacity of bioactive materials is planned to reach 1,000 tons.

　　Among the synthetic biology concept stocks, most enterprises are still in the initial stage of layout.

　　For example, Angel Yeast’s subsidiary Weiqi Enterprise, with an annual output of 10,000 tons, is under construction, and the first phase is planned to be put into production in 2025.

　　Azure Bio, whose daily limit has been raised for many times, shows that the enterprise has only set up a synthetic biology technology innovation laboratory, which is still in the research and development stage of the early strain laboratory and does not have the conditions for industrialization.

　　Product homogeneity is serious.

　　Synthetic biology is still in the early stage, because people’s understanding of the biological field is less than 10%, which brings a common phenomenon in synthetic biology enterprises-product homogenization.

　　The involution of cosmetic raw material enterprises is particularly serious.

　　There are more than 40 synthetic biology enterprises engaged in the development of cosmetic raw materials in China. Many start-ups and listed companies have plunged into squalene, ergothionine, icodoline and other popular raw materials with moisturizing and antioxidant effects.

　　At present, the listed companies with mass production capacity in China are mainly Huaxi Bio and Chuanning Bio. Ultra-pure ergothionine produced by Huaxi Bio-technology has a purity of over 99%. At the end of May, Chuanning Bio announced that some synthetic biological products have entered the stage of small-scale and pilot-scale, including squalene, ergothionine, and icodoline.

　　The aforementioned technicians believe that when making the same product, the volume concentration, volume purity, volume impurities, etc. really make the quality of raw materials better, and also knock down the original inflated price. For example, the price of ergothione was 200,000 yuan/kg a few years ago, and now it is only tens of thousands of yuan/kg.

　　However, cosmetics raw materials are a relatively small market, and the enterprises that enter the market first will have advantages, and most of the enterprises that enter the market later can only fight price wars, or suffer heavy losses because of drastic price changes.

　　In February this year, Sinochem, one of the earliest enterprises that made ergothionine, declared bankruptcy. The enterprise was founded in 2016, when there were almost no enterprises that produced ergothionine in China.

　　According to public information, Zhongke Nuozhi and Tianjin Institute of Industrial Biology, China Academy of Sciences agreed to realize the industrialization of ergothionine within 4 years after it passed the verification level of 75L fermentor, which means that it should be produced in at least 1000L fermentor.

　　However, in 2020, which was supposed to be the test result, Zhongke Nuozhi suffered a triple blow from inside and outside: it failed to mass produce, the price of ergothionine began to decrease, and it was deeply involved in various judicial cases and disputes.

　　In this year, the number of judicial cases involved in Kono Knowledge exceeded 60, which was the highest in the past years, including private lending disputes, patent transfer contract disputes, service contract disputes, labor disputes and so on. A year later, the court ruled that Kono paid R&D expenses and breach of contract fees, and transferred the development patent back to Tianjin Institute of Technology.

　　The bankruptcy of Zhongke Nuozhi shows the other side behind the scenery of synthetic biology track. The market turmoil and the ability of enterprises to land can directly determine life and death.

　　In addition, for some products, even if the price is lowered by the method of synthetic biology, it can not stimulate demand, and it is a waste of production capacity to be involved, so the forward-looking selection of products by enterprises is particularly critical.

　　For example, Glutathione, a raw material drug with the functions of protecting liver and whitening, is quoted at a price of about 800 yuan/kg-900 yuan/kg by using traditional yeast, and () (300233.SZ) occupies about 90% of the market share in China. Glutathione produced by synthetic biological process is quoted at about 600 yuan/kg-700 yuan/kg, but Jincheng Medicine still occupies 90% of the market.

　　This is because, on the one hand, the price drop is relatively low, which has not impacted the market; on the other hand, the change of pharmaceutical raw materials needs to be reapplied for approval, and the process is very complicated. Safety and stability are more critical factors than cost.

　　To sum up, there are two reasons for the homogenization of involution products in synthetic biology enterprises:

　　First, the raw materials of cosmetics are mainly small molecular compounds and monomer materials. At present, both the research on the characteristics of chassis cells and the environmental control of mass production are very mature. If the price in the market is high, more enterprises will flock to do it.

　　Second, China’s current policies are relatively stricter in food, medicine, agriculture and other fields. For example, the longest approval period for biological pesticides can reach 8-10 years.

　　Many practitioners said that the standards committee related to synthetic biology in China is gradually being established, and the access and process of approval will be improved in the future. However, what determines the profitability of enterprises at present is the ability to expand diversified product lines and find materials with a wider range of applications through long-term research and development.

　　Dong Lei, dean of the School of Life Sciences of Nanjing University, told the Economic Observer that the focus of synthetic biology around the world is mainly on the synthesis of small molecules, but not on macromolecular materials, because the synthetic steps involved are more complicated and difficult.

　　New materials, new business

　　Many enterprises that started earlier are also producing macromolecular materials based on synthetic biology. The leading ones are polymers in the chemical industry, such as PHA (polyhydroxy fatty acid ester, note: a kind of bio-polyester, which has degradable characteristics) and polyamide materials (nylon).

　　In the past, chemical companies such as Kaisai Bio and Huaheng Bio mainly sold small molecular monomer materials such as dibasic acid and alanine. They made them by biological method instead of chemical method, which reduced the cost and seized a larger market share.

　　It is difficult to reduce the short-term cost of macromolecular new materials, and the market has not been widely accepted, so enterprises are also exploring new business models. The most representative is that raw material enterprises directly go off to build brands or jointly manufacture products.

　　Many synthetic biology enterprises have flocked to PHA racetrack. This material has good biocompatibility, biodegradability and thermal processability, and can be applied to food packaging, fiber fabrics, agricultural mulching films, drug delivery and medical materials.

　　Blue Crystal Microbes is one of the start-ups with the most financing in synthetic biology. Since its establishment in 2016, it has completed 10 rounds of financing and disclosed that the total financing amount exceeds 2 billion yuan.

　　Li Teng, co-founder and president of Blue Crystal Microbes, told the Economic Observer that they have been doing PHA since its establishment, providing only technical services and not making products. It is difficult for start-ups to survive. If they only make popular products at the moment, they will be eliminated in a few years.

　　Li Teng said that at first, their definition of PHA was a fine chemical, but now it has changed into a bulk chemical. He explained that this adjustment is market demand-oriented. Unlike other enterprises, blue crystal microorganisms hope to use the same PHA to meet different needs. Blue crystal PHA is made because it has the greatest potential for cost reduction, the highest product adaptability, and the corresponding technical difficulty is higher. Stability and quality are the most priority factors, followed by cost.

　　The direct profit of Blue Crystal Microbes is to cooperate with brands and manufacturers to jointly develop PHA products, including disposable products, soft and hard packaging, textile fibers and so on. The annual production capacity of blue crystal PHA is 5000 tons, and the output of downstream products is 5000 tons, which belongs to the first echelon among PHA manufacturing enterprises at home and abroad.

　　In addition, cyanobacteria also develop in the middle and upper reaches, providing platforms and technologies to incubate small enterprises.

　　Li Teng said that in the past, they only produced products, but now it may be a turning point. They have observed that more and more small enterprises are also entering. However, the capabilities provided by incubators and biomedical sharing platforms on the market are different from the actual needs.

　　For example, most synthetic biology laboratories usually emphasize the automation of Qualcomm quantity, but most strain development processes do not need Qualcomm quantity, which is different from drug research and development, which needs to screen many different molecules. Therefore, Blue Crystal is helping small enterprises to improve efficiency through its own experience, such as technical services and laboratory sharing.

　　As the leading supplier of long-chain dibasic acids in the world, Kaisai Bio is also the first enterprise in the world to realize bio-based polyamide (note: dibasic acids and diamines are important monomer raw materials of polyamide). The pilot test of this material was completed in 2014, and the production line with an annual output of 100,000 tons was completed and put into production in 2021.

　　Although the production capacity has increased significantly, the actual sales volume has increased less.

　　According to the prospectus, from 2016 to 2021, the sales volume of bio-based polyamide increased from 0.5 million tons to 0.7 million tons, and the ratio of production to sales was always around 50%. In contrast, the sales volume of long-chain diacid, the ace product, increased from 25,000 tons to 61,000 tons.

　　According to Kaiser Bio, bio-based polyamide is a brand-new material, its price is higher than that of nylon made by chemical method, and its application ability is still being explored.

　　Bio-new materials made of new polymer materials need to provide a whole set of solutions, tell customers how to process and produce, jointly research and develop with downstream, and even assist customers in carbon footprint, equipment and technology, so as to make the market accept them faster. In this regard, Kaisai Bio has established an interdisciplinary R&D center, which has made remarkable progress in the textile field, engineering materials and composite materials.

　　In addition, Kaisai Bio has established its own fiber brand TERRYL to provide fiber solutions for the textile field.

　　For example, we cooperated with Bosideng’s brand Samet to build school uniforms, and cooperated with close-fitting clothing brands such as Shushu and Ubras to develop underwear, sportswear, yoga clothes and other kinds of clothing. At the same time, we replaced the consumables such as work clothes, helmets and carpets in the internal production base with new materials.

　　Liu Xiucai, chairman of Kaisai Bio, once publicly stated: "We can’t make the business model of synthetic biology too early." In the future, there may be a model similar to the pharmaceutical industry. A startup or research institution has made an efficient and valuable metabolic pathway, but it does not do follow-up research and development, and packages the results and sells them to mature enterprises in the industry to complete it.

CCTV News:Spring Festival travel rush ends on February 22nd, 2025. According to the data from the comprehensive transportation Spring Festival travel rush working class in 2025, in 40 days in Spring Festival travel rush, the cross-regional personnel flow of the whole society was 9.02 billion person-times, an increase of 7.1% over the same period in 2024.

Among them, the number of railway passengers sent was 510 million, a year-on-year increase of 6.1%; The turnover of highway personnel was 8.39 billion person-times, a year-on-year increase of 7.2%; The number of passengers sent by waterway was 31.21 million, a year-on-year increase of 7.6%; The number of passengers sent by civil aviation was 90.2 million, a year-on-year increase of 7.4%.

Inventory in Spring Festival travel rush in 2025: The "ice and snow fever" traffic in the north and south helps the ice and snow tour.

This year’s Spring Festival travel rush also presents a feature: whether it is cold in the north or warm in the south, there has been an ice and snow tourism fever.

The hosting of the Asian Winter Games has heated up the "two-hour" and "three-hour" economic and tourism circles with Harbin as the center. Domestic air ticket orders with Harbin as the destination increased by over 20% year-on-year, and hotel bookings increased by nearly 60% year-on-year. The cumulative reception of inbound tourists in Harbin increased by 144.7% year-on-year.

A major feature of Spring Festival travel rush this year is that ice and snow tourism fever has appeared in many places in the north and south of China. The data shows that the hotel booking fever in Altay, Yili, Qitaihe, Heilongjiang and Xilin Gol, Inner Mongolia in the north increased by more than 40% year-on-year. The search heat of ice and snow consumption in Shanghai, Zhejiang, Guangdong and other places in the south has more than doubled.

In order to cope with the ice and snow tourism fever, this year, Spring Festival travel rush, the railway departments around the country increased the frequency of trains running between the hot cities of ice and snow tourism. Railway and transportation departments around the country have opened up the "fast lane" of ice and snow tourism, realizing the seamless connection between railway stations, bus stations and ski resorts. In view of the surge of tourists going to Shangri-La, Yunnan for skiing, Yunnan Railway Department has started tourist trains from Xishuangbanna, Kunming, Dali and other popular tourist cities to Lijiang, and then the tourists will transfer to the EMU train from Lijiang to Shangri-La, which will go directly to Shangri-La. Xiamen, Fujian opened the first ice and snow theme train to Harbin.

Wu Zhenbin, the stationmaster of Xiamen North Station of Nanchang Bureau of China Railway, said: "We have designated a waiting area for group passengers in the waiting room and arranged special escort services to make the elderly groups travel steadily and feel warm."

　　On July 6th, in order to further implement the decision-making arrangements of the CPC Central Committee and the State Council, increase financial support for stabilizing foreign trade and foreign investment, and give full play to the role of financial services in the real economy, Shenzhen Central Sub-branch of the People’s Bank of China, Shenzhen Branch of the State Administration of Foreign Exchange, Shenzhen Municipal Bureau of Commerce, Shenzhen Supervision Bureau of the Bank of China Insurance Regulatory Commission, and Shenzhen Local Financial Supervision Administration issued the Guiding Opinions on Shenzhen’s Financial Support for Stable Scale and Excellent Structure of Foreign Trade, which mainly showed three characteristics.

　　First, focus on problem-oriented and accurately grasp the direction of force. Based on in-depth investigation and study, the drafting focuses on finding out the situation and problems, and puts forward effective countermeasures, which has strong pertinence and operability, can solve the urgent difficulties and worries of foreign trade enterprises in time, and effectively help them out.

　　The second is to coordinate the current and long-term and accelerate the innovation drive. On the one hand, focus on the difficulties in the field of foreign trade at this stage and put forward solutions; On the other hand, it also takes into account the long-term, improves the financial environment for foreign trade development, actively cultivates new kinetic energy of foreign trade, and promotes the innovative and standardized development of new foreign trade formats and new models.

　　The third is to fully mobilize policy resources and form a synergy. It has fully integrated the existing financial support foreign trade policies, covering financing, settlement, credit insurance, exchange rate risk management and other contents, deeply integrated with the development policy of Shenzhen’s foreign trade industry, and organically combined the management services of financial institutions and regulatory authorities to co-ordinate risk prevention and steady growth.

　　There are 24 specific measures in four aspects in the Guiding Opinions of Shenzhen Financial Support for Stable Scale and Excellent Structure of Foreign Trade. First, increase import and export credit support to help foreign trade enterprises reduce costs and increase efficiency. Encourage financial institutions to do a good job in credit supply in foreign trade, actively meet the foreign trade financing needs of private, small and medium-sized enterprises, and use monetary policy tools to support the development of foreign trade enterprises; Innovate credit products, stabilize and expand import and export in key areas, and develop foreign trade supply chain finance; Cultivate and expand export credit insurance policy financing, and expand the use of RMB in cross-border trade financing. The second is to optimize cross-border settlement services and promote the innovative development of foreign trade. Encourage financial institutions to improve the facilitation level of cross-border trade revenue and expenditure, broaden the channels for cross-border settlement of new foreign trade formats, and promote the standardized and innovative development of cross-border e-commerce, market procurement trade, and comprehensive foreign trade services; Encourage banks and related institutions to facilitate cross-border settlement of major trading platforms, improve the efficiency of cross-border use of local and foreign currency funds, and support domestic and foreign linkage of cross-border trade settlement. The third is to enrich supporting financial support and optimize the financial environment for foreign trade development. Encourage banks to serve foreign trade enterprises to enhance their ability to cope with exchange rate risks and reduce operational risks; Support financial institutions to promote the application of cross-border financial service platform scenarios, participate in the construction of cross-border trade big data platforms, and promote the docking of banks, enterprises and enterprises; Accelerate the implementation of "30 financial support for Qianhai". The fourth is to do a good job in the implementation of the work and give full play to the effectiveness of the policy. All financial institutions are required to strengthen the promotion of foreign trade financial policies and products and services, strengthen the empowerment of science and technology, and strengthen the organization and implementation.

　　Foreign trade is an important part of the national economy. Promoting the stable scale and excellent structure of foreign trade plays an important supporting role in stabilizing growth and employment, building a new development pattern and promoting high-quality development. As an export-oriented economic city, Shenzhen’s foreign trade export ranks first among large and medium-sized cities in China for 30 years in a row. It is of great significance to promote the stable scale and excellent structure of foreign trade to stabilize the economic market. In the next step, the People’s Bank of Shenzhen and the Shenzhen Foreign Exchange Bureau will cooperate with the Municipal Bureau of Commerce, the Shenzhen Banking Insurance Regulatory Bureau and the Municipal Finance Bureau to supervise the financial institutions within their jurisdiction to implement the Guiding Opinions, continuously improve the real economic capacity of financial services, and provide financial guarantee for the high-quality development of Shenzhen’s foreign trade.

() The business review of the Board of Directors in the first half of 2022 is as follows:

　　I. Review of Main Work

(1) Taking the initiative to act in stabilizing the economic market and supporting the real economy, the Bank introduced 22 measures in six aspects to help stabilize the economic market and support the real economy; We will provide the service of "stabilizing the economy and entering all enterprises" for the single champion enterprises specializing in innovation and manufacturing; Focus on key areas and industries such as manufacturing, inclusive finance and green finance, expand pricing authorization, optimize credit approval and increase assessment; We will introduce special preferential support policies for high-quality customers, establish flexible and efficient "list system", "consultation system" and "pre-trial" mechanisms, unblock blocking points, solve difficulties, and accurately implement credit supply. By the end of the reporting period, total loans exceeded 3.5 trillion yuan, bond investment (including funds) exceeded 1.5 trillion yuan, manufacturing loans increased by 12.36%, green loans increased by 26.59%, clean energy loans increased by 44.16% and inclusive loans increased by 18.94%.

(II) Stimulating innovation momentum and promoting business development during the transformation of wealth management. The Bank promoted the hierarchical and grouped retail customer business strategy and built a new hyperbolic business development model. The total retail AUM was 2.31 trillion yuan, and the proportion of retail operating income increased by 0.6 percentage points to 42.07%. There are 147 million retail customers and 1.1 million wealth customers. The balance of retail credit exceeded 1 trillion yuan, and the proportion of retail non-housing loans increased. The integrated comprehensive service capability of the company’s financial investment banks continued to improve, with FPA (total customer financing of the company) reaching 4.62 trillion yuan, an increase of 11.65% over the end of last year; For five consecutive years, it has achieved "three excellent results" in the evaluation of the central financial agency bank; The effect of public-private linkage was improved, the transaction volume and the retention rate of agency funds were both improved, and the service of supporting the military bank won the "China Financial Product Communication Model Award". The business collaboration capability has been continuously improved, and the collaboration of "mobile banking+cloud payment" has been strengthened to create a new service model of "one-stop service for financial management, social security, payment and loan"; Develop financial scene products such as "logistics link" and "automobile link" to enhance digital management ability; Strengthen the collaborative linkage mechanism of trust and bond investment, and use financial market and interbank business resources to coordinate the development of custody business; The scale of cooperation with China Everbright Group and its operating income have increased steadily.

Iii. Tightening safety responsibilities and ensuring development quality while adhering to the risk bottom line, the Bank’s asset quality continued to improve, and the NPL ratio, interest rate, overdue interest rate and provision coverage ratio achieved "three reductions and one liter", and its risk resilience continued to increase; Build an automated examination and approval management system, implement unified examination and approval management, strengthen consolidated management, establish a pre-trial consultation mechanism between China and Taiwan, and improve examination and approval efficiency; Improve the management and control mechanism of large credit customers, and establish the concentration limit of large credit customers by layers; Implement mandatory withdrawal of potential risk customers, and orderly clear out the stock risks in key areas; Strengthen the monitoring and management of complaints, and get an A grade in the annual consumer protection evaluation organized by the People’s Bank of China for two consecutive years.

(IV) Optimizing structural functions and strengthening team building in deepening mechanism reform; The Bank actively and orderly promoted the "two departments and two centers" structural setting of digital transformation, and enhanced the efficiency of "business+technology" integration; Deepen the reform of audit system and mechanism, strengthen the leadership of party committees on audit work, and improve the long-term mechanism of audit rectification; Improve the performance appraisal system and comprehensive appraisal methods, increase the assessment of supporting the real economy, internal control compliance and development quality, and encourage value creation and synergy; Establish a pool of outstanding young cadres, cultivate "finance+technology" compound talents, and strengthen grassroots exercise, multi-post experience and hard-working experience in cadre selection.

II. Development Strategy of the Bank

(A) strategic overview

1. Strategic Vision

The Bank adheres to the strategic vision of "building a first-class wealth management bank" and is committed to creating greater value for society, shareholders, customers and employees.

2. Strategic Connotation The Bank resolutely implements the national strategy, actively serves and integrates into the new development pattern, and relies on the advantages of Everbright Group’s full financial license, production integration and land port to strengthen group linkage, strengthen innovation drive and create unique advantages in wealth management.

(II) Implementation of the Strategy During the reporting period, the Bank carried out the missions of the national team of financial central enterprises, the wealth management professional team and the people’s livelihood service vanguard, based on the new development stage, implemented the new development concept, actively served to build a new development pattern, focused on the strategic vision of "building a first-class wealth management bank" and continuously improved its high-quality development capability.

First, take root in the real economy and serve the people’s livelihood. We will fully support key areas such as manufacturing, inclusive finance, green finance and rural revitalization through the full implementation of special credit plan management, differentiated internal fund transfer pricing preferential policies, and strengthened balanced scorecard assessment; Medium-and long-term manufacturing loans and inclusive agriculture-related loans increased by 17.13% and 25.21% respectively over the end of last year, both higher than the average growth rate of various loans; Intensive cultivation of people’s livelihood services, such as pensions and third-generation social security cards, served 11,964,200 social security customers and realized pensions of 15.953 billion yuan; We continued to do a good job in supporting the army and giving special care to the disabled. The cooperation project of preferential treatment cards for retired military personnel and other special care recipients landed in 32 branches and successfully issued the first wealth management product with the theme of "supporting the army". The second is to promote structural transformation and highlight business characteristics. Broaden the transaction settlement business, increase the original and high-quality liabilities, and the deposit balance increased by 271.869 billion yuan over the end of last year; Continue to promote the development of green intermediary business, optimize the allocation of resources, and achieve the effect of light transformation, achieving a green revenue of 6.169 billion yuan, a year-on-year increase of 6.44%; Continue to cultivate the characteristics of wealth management, actively develop "cloud payment", and strengthen the ecological construction of education and training, logistics, housing transactions and other scenarios. The third is to optimize the quality and efficiency of operation and consolidate the customer base. Strengthen the role of corporate finance as a "ballast stone", take FPA as the engine, and accelerate the integrated transformation of "commercial bank+investment bank+asset management+transaction" to meet customers’ comprehensive financing needs; Play the role of "new force" in retail business and wealth management, with AUM(Retail customer asset management scale) is the Polaris indicator, which will strengthen the agency business, enrich product shelves and improve customer experience; Enhance the role of "booster" in the financial market, focus on GMV (transaction amount of interbank customers’ funds), strengthen transaction attributes, expand business cooperation, and promote multi-win situation.

Fourth, strengthen risk control and improve asset quality. Continue to promote risk stationing and risk embedding for business front-end, and improve the accuracy of marketing services and risk prevention and control; Clarify the risk management requirements of key areas such as real estate business and local government financing platform, and formulate differentiated regional credit investment policies; Improve the research management system of credit industry, follow up key industry areas, and provide support for marketing services; Take measures to solve the stock risk and promote the stable and positive asset quality.

III. Core Competitiveness of the Bank

First, the background of diversified operation, industry-finance cooperation and full financial license shareholders. Everbright Group, the controlling shareholder, is a large-scale financial holding group directly under the central government, ranking among the top 500 in the world. Its business scope covers financial and environmental protection, tourism, health, high-tech and other characteristic industries. Its business area spans Hong Kong and the mainland, and its institutions and businesses are all over the world, providing a platform for the Bank to carry out comprehensive financial services and cooperation between industry and finance.

The second is to unify the advantages of Sunshine brand. Over the years, with the concept of "sharing sunshine and innovating life", the Bank has strengthened brand building, strived to build a series of "sunshine" brands, and launched a series of famous products such as Sunshine Financial Management, Cloud Payment, Sunshine Pratt & Whitney, Autolink, Forfaiting Blockchain, Sunshine E-loan, Salary Loan and Sunshine Finance.

The third is the advantage of excellent innovative genes. Under the background of establishing a competitive financial market in China, the Bank came into being, developed and strengthened through pioneering and innovation, and had a strong sense of innovation. The first to launch RMB wealth management products, the first to have the qualification of fully acting as a financial treasury business, and the first to obtain the qualifications of enterprise annuity fund custodian and account manager, to build the largest open payment platform "cloud payment" in China, to launch and expand the wealth E-SBU ecosystem, and to achieve good innovation results. The fourth is the leading edge of some businesses. The Bank is committed to "building a first-class wealth management bank" and has a strong competitive advantage in wealth management; Investment banking has established a first-Mover advantage in the industry and has the ability to provide comprehensive investment banking services for enterprises; Digital finance business is based on an open platform, and an open service system is constructed, and the business model is in a leading position in the industry; The financial market business maintained steady and compliant operation, and the trading strategy won high recognition from the market; The continuous improvement of the value creation and high-quality development ability of retail business has played a stabilizing role in the sustainable development of the Bank.

The fifth is prudent and steady business style. The Bank has always adhered to prudent risk management concepts, sound business development strategies and compliant management measures, and the methods and means of comprehensive risk management have been continuously enriched, asset quality control has been effective, the management system has been continuously improved, and the initiative, foresight and predictability of risk management have been continuously improved.

The sixth is the driving advantage of scientific and technological innovation. The Bank continued to deepen the "123+N" digital everbright development system of "one intelligent brain, two technical platforms, three service capabilities and n digital famous products". In the future, the Bank will continuously increase its investment in science and technology, optimize its governance in science and technology, enhance its basic capabilities in science and technology and empower its business development.

Iv. overall operation of the bank

(I) Steady growth in business scale and strengthening support for the real economy. At the end of the reporting period, the total assets of the Group were 6,257.247 billion yuan, an increase of 355.178 billion yuan or 6.02% over the end of the previous year; The total principal of loans and advances was 3,512.531 billion yuan, an increase of 205.227 billion yuan or 6.21% over the end of last year; The balance of deposits was 3,947.612 billion yuan, an increase of 271.869 billion yuan or 7.40% over the end of last year. During the reporting period, the Group actively implemented the decisions and arrangements made by the CPC Central Committee and the State Council, based on the needs of the country, gave full play to Everbright’s ability, and introduced a number of measures to stabilize the economic market and support the real economy. The average cost ratio of interest-bearing liabilities was 2.31%, down 3BPs year-on-year, and the debt cost remained improved.

(II) The growth of operating income and profit accelerated, and the profitability continued to improve. During the reporting period, the Group achieved operating income of 78.454 billion yuan, up 1.77% year-on-year. Among them, the net interest income was 56.675 billion yuan, a year-on-year increase of 1.39%; The net fee and commission income was 14.835 billion yuan, a year-on-year decrease of 1.49%. The net profit was 23.446 billion yuan, the growth rate of operating income and net profit increased by 1.65 and 1.84 percentage points respectively compared with the first quarter, and the profitability continued to improve.

(III) The asset quality is stable and the ability to resist risks is enhanced. At the end of the reporting period, the balance of non-performing loans of the Group was 43.643 billion yuan, an increase of 2.277 billion yuan over the end of the previous year; The non-performing loan ratio was 1.24%, down 0.01 percentage point from the end of last year; The loan ratio of concern was 1.84%, down 0.02 percentage points from the end of last year; The overdue loan ratio was 1.96%, down 0.03 percentage points from the end of last year; The provision coverage ratio was 188.33%, up 1.31 percentage points from the end of last year.

(IV) The capital strength has been enhanced, and the regulatory requirements have been continuously met. At the end of the reporting period, the Group’s net capital was 542.714 billion yuan, with a capital adequacy ratio of 12.18%, a Tier 1 capital adequacy ratio of 10.95% and a core Tier 1 capital adequacy ratio of 8.59%, all of which met the regulatory requirements.

V. Main items in the income statement

(I) Changes of items in the income statement

None.

(2) Operating income

During the reporting period, the Group achieved operating income of 78.454 billion yuan, an increase of 1.362 billion yuan or 1.77%. Net interest income accounted for 72.24%, down 0.27 percentage points year-on-year; The net fee and commission income accounted for 18.91%, down 0.62 percentage points year-on-year; Other income accounted for 8.85%, up 0.89 percentage points year-on-year.

(3) Net interest income

During the reporting period, the Group’s net interest income was 56.675 billion yuan, an increase of 778 million yuan or 1.39%.

The Group’s net profit margin was 1.99%, down 12BPs； year-on-year; The net interest rate of return was 2.06%, down 14BPs year-on-year, mainly due to the implementation of the policy of reducing fees and making profits, reducing the financing cost of the real economy, and the average rate of return on interest-bearing assets decreased by 15BPs year-on-year.

(4) Interest income

During the reporting period, the Group realized interest income of RMB118.396 billion, up RMB5.311 billion or 4.70% year-on-year, mainly due to the increase in interest income from loans and advances.

1. Interest income from loans and advances During the reporting period, the Group realized interest income from loans and advances of RMB84.986 billion, up RMB4.552 billion or 5.66% year-on-year, mainly due to the increase in loan scale.

2. Investment interest income

During the reporting period, the Group’s investment interest income was 26.034 billion yuan, down by 132 million yuan or 0.50% year-on-year, mainly due to the decrease in investment yield.

3. Interest income of financial assets lent out, deposited in banks and bought back for sale During the reporting period, the interest income of financial assets lent out, deposited in banks and bought back for sale of the Group was 2.088 billion yuan, up 1.136 billion yuan or 119.33% year-on-year, mainly due to the increase in the scale and yield of financial assets lent out, deposited in banks and bought back for sale.

(5) Interest expenses

During the reporting period, the Group’s interest expense was 61.721 billion yuan, up by 4.533 billion yuan or 7.93% year-on-year, mainly due to the increase in customer deposit interest expense.

1. Interest Expenditure on Customer Deposits During the reporting period, the interest expenditure on customer deposits was 41.172 billion yuan, an increase of 3.225 billion yuan or 8.50% year-on-year, mainly due to the increase in the scale of customer deposits and the increase in interest rates.

2. Interest expense of interbank deposits, borrowings and sales of repurchase funds During the reporting period, the interest expense of interbank deposits, borrowings and sales of repurchase funds of the Group was 8.889 billion yuan, a year-on-year decrease of 2.527 billion yuan or 22.14%, mainly due to the decrease in scale and interest rate.

3. Interest expenses on bond issuance

During the reporting period, the interest expense of bonds issued by the Group was RMB11.66 billion, up RMB3.835 billion or 49.01% year-on-year, mainly due to the increase in the scale of bonds issued.

(6) Net fee and commission income

During the reporting period, the Group’s net fee and commission income was 14.835 billion yuan, a year-on-year decrease of 224 million yuan or 1.49%, mainly due to the year-on-year decrease of 214 million yuan in other fee income.

(7) Other income

During the reporting period, the Group’s other income was 6.944 billion yuan, up 808 million yuan year-on-year, mainly due to the increase in investment income.

(8) Business and management fees

During the reporting period, the Group’s business and management fees amounted to 18.788 billion yuan, a year-on-year decrease of 1.165 billion yuan or 5.84%. The cost-income ratio was 23.95%, down 1.93 percentage points year-on-year.

(IX) Asset impairment losses

During the reporting period, the Group adhered to an objective and prudent provision policy, continuously consolidated the provision base and enhanced its risk resilience, and accrued asset impairment losses of RMB29.025 billion, up RMB312 million or 1.09% year-on-year.

(10) Income tax expenses

During the reporting period, the Group’s income tax expense was 5.771 billion yuan, up by 1.089 billion yuan or 23.26% year-on-year, which was mainly due to the increase in assets losses that are not expected to be deductible before tax in this period.

VI. Main items in the balance sheet

(1) Assets

At the end of the reporting period, the Group’s total assets amounted to RMB6,257.247 billion, an increase of RMB355.178 billion or 6.02% over the end of the previous year, mainly due to the increase in loans and advances.

1. Loans and advances

At the end of the reporting period, the total principal of loans and advances of the Group was RMB3,512,531 million, an increase of RMB205,227 million or 6.21% over the end of the previous year; Net loans and advances accounted for 54.98% of the total assets, an increase of 0.09 percentage points over the end of last year.

2. Investing in securities and other financial assets

At the end of the reporting period, the Group invested 1,958.801 billion yuan in securities and other financial assets, an increase of 109.080 billion yuan over the end of the previous year, accounting for 31.30% of the total assets and 0.04 percentage point lower than the end of the previous year.

3. Types and amounts of financial bonds held.

At the end of the reporting period, the Group held financial bonds of RMB1,277.895 billion, an increase of RMB700.116 billion over the end of the previous year, of which financial bonds measured in amortized cost accounted for 81.13%.

4. Hold ten financial bonds with the largest face value.

5. Goodwill

The cost of goodwill of the Group was 6.019 billion yuan. At the end of the reporting period, the provision for impairment of goodwill was 4.738 billion yuan, with a book value of 1.281 billion yuan, unchanged from the end of last year.

6. By the end of the reporting period, the Bank’s main assets were not sealed up, detained, frozen or mortgaged or pledged.

(2) Liabilities

At the end of the reporting period, the Group’s total liabilities amounted to RMB5,764,712 million, an increase of RMB347,009 million or 6.41% over the end of the previous year, mainly due to the increase in customer deposits.

At the end of the reporting period, the balance of customer deposits of the Group was RMB3,947.612 billion, an increase of RMB271.869 billion or 7.40% over the end of the previous year.

(III) Shareholders’ rights and interests

At the end of the reporting period, the Group’s shareholders’ equity attributable to the Bank was RMB490.530 billion, a net increase of RMB8.041 billion over the end of the previous year, mainly due to the increase in profits realized in the current period.

(4) Off-balance-sheet items

The off-balance-sheet items of the Group are mainly credit commitments, including loan and credit card commitments, acceptance bills, letters of guarantee, letters of credit and guarantees. At the end of the reporting period, credit commitments totaled 1,404.146 billion yuan, an increase of 34.542 billion yuan over the end of the previous year.

VII. Cash flow

The net cash outflow from the Group’s operating activities was RMB178,781 million. Among them, the cash inflow was 417.47 billion yuan, up 80.453 billion yuan or 23.87% year-on-year, mainly due to the increase in customer deposits; The cash outflow was 596.251 billion yuan, an increase of 116.026 billion yuan or 24.16% year-on-year, mainly due to the increase in customer loans and advances. The net cash outflow from the Group’s investment activities was 43.761 billion yuan. Among them, the cash inflow was 441.387 billion yuan, an increase of 26.434 billion yuan or 6.37% year-on-year, mainly due to the increase in cash inflow from investment recovery; The cash outflow was 485.148 billion yuan, up 31.380 billion yuan or 6.92% year-on-year, mainly due to the increase in cash paid for investment. The Group’s net cash inflow from fund-raising activities was RMB123.38 billion, a year-on-year decrease of RMB50.841 billion, mainly due to the increase in cash paid for bonds.

VIII. Loan Quality

IX. Operating Performance of Various Business Lines

(1) Financial business of the company

In accordance with the strategic requirements of "building a first-class wealth management bank", the Bank’s corporate finance business strengthens customer thinking, adheres to customer orientation, pays attention to customer value, accelerates the establishment of a "layered, graded and grouped" marketing model, solidly promotes the strategic transformation of "commercial bank+investment bank+asset management+transaction", and strives to build high-quality first-class corporate finance; Actively integrate into the national development strategy, actively serve the development of the real economy, implement major regional strategies, and provide financial services in infrastructure construction, advanced manufacturing, green finance, coal and electricity supply, and epidemic relief; We will promote the incremental expansion and price reduction of microfinance services, vigorously support the development of the private economy, and launch a series of service activities of "stabilizing the economy and entering all enterprises" to help stabilize the economic market. During the reporting period, the operating income was 30.36 billion yuan, a year-on-year decrease of 787 million yuan or 2.53%, accounting for 38.70% of the bank’s operating income. At the end of the reporting period, the total number of customers was 927,000, an increase of 44,200 or 5.01% over the end of the previous year, of which 434,100 were effective corporate customers, an increase of 20,100 or 4.86% over the end of the previous year.

1. Corporate deposit and loan business

The Bank insisted on serving the real economy, strengthened its support for key areas and weak links, actively increased the loan scale, reduced the financing cost of enterprises, and expanded FPA；; Adhere to the development orientation of "both quantity and price", focus on payment and settlement, scene construction and capital circulation, broaden the channels for deposit growth and optimize the deposit structure; Strengthen the construction of customer channels, promote the pilot work of electronic certificate accounting data standards of the Ministry of Finance, and successfully issue the first electronic receipt in the banking system; Promote digital construction, strengthen technology and data support, and empower customer marketing, product innovation and business development; Adhere to the risk bottom line, operate in compliance with the law, and the asset quality is stable and good. At the end of the reporting period, the balance of corporate deposits (including corporate portion of other deposits) was 2,935.961 billion yuan, an increase of 173.942 billion yuan or 6.30% over the end of the previous year, of which the balance of corporate RMB core deposits increased by 171.652 billion yuan or 7.40%; The balance of corporate loans (excluding discounts) was 1,908,885 million yuan, an increase of 118,066 million yuan or 659% over the end of last year.

2. inclusive finance business The Bank continued to increase the investment of inclusive loans, promoted the "incremental expansion" of inclusive finance, and achieved the phased supervision standards of "two increases and two controls"; Help small and micro enterprises to solve problems, introduce policies such as stabilizing the economy, ensuring smooth traffic and resuming production, and increase support for industries seriously affected by the epidemic, such as accommodation, catering, retail, culture, tourism and transportation; Strengthen chain financing and scenario application, and strive to build inclusive ecological chain projects such as "Sunshine Political Mining Loan", "Commercial Ticket Financing Loan" and "Sunshine Supply Loan" to help stabilize the industrial chain and supply chain; Promote the digital transformation of inclusive business, and iteratively upgrade online products such as "Sunshine e-loan" and "Sunshine e-tax loan" to provide customers with a convenient financing experience. At the end of the reporting period, the balance of inclusive loans was 281.884 billion yuan, an increase of 44.883 billion yuan or 18.94% over the end of the previous year, which was higher than the average growth rate of various loans. 451,600 customers, an increase of 59,500 over the end of last year; The weighted average interest rate of new loans was 4.62%, down 28BPs； from the end of last year; The defective rate is 0.63%.

3. Investment banking business

The Bank continued to deepen the management concept of "commercial bank+investment bank+asset management+transaction", improve the professional service ability of investment banking business, and build a new competitive advantage of "integration of investment and commercial bank"; Promote the construction of customer system, establish an all-round marketing map for investment banks, and the business volume of strategic customers has grown steadily; Focus on FPA product system and realize "multi-dimensional drive" such as bond financing, M&A financing, structured financing, equity financing and intermediary matching; Vigorously support the real economy, landing rural revitalization bills, panda bonds, science and technology bills, equity investment bills, carbon neutral bonds and other projects. During the reporting period, the Bank underwritten 371 bonds with an amount of RMB243.890 billion; Newly added M&A loans of 14.085 billion yuan; Four credit asset securitization projects were issued, with an asset scale of 10.016 billion yuan.

4. Transaction banking business

In line with the development trend of digitalization, online and scene, the Bank enhanced the comprehensive financial service capability of trading banks, and built various channels for core enterprises in the supply chain, public resource trading centers and corporate customers through Sunshine E-chain, Sunshine Supply Chain Cloud Platform and cash management system, continuously enriching the product system and providing scene financial services; The functions and advantages of "sunshine salary" in ensuring all aspects of migrant workers’ wage payment were further exerted, and the business scale grew steadily, helping to protect the legitimate rights and interests of new citizens. At the end of the reporting period, the accumulated guarantee amount of migrant workers’ wage guarantee was 7.813 billion yuan, serving 1,387 corporate customers; Implement the policy of stabilizing foreign trade and foreign financial services, and introduce financial support measures to promote the stability and quality of foreign trade; Relying on scientific and technological innovation, actively participate in docking new foreign trade formats and new models such as cross-border e-commerce and market procurement; Support the construction of Hainan Free Trade Port, improve free trade service measures, and promote the development of international settlement and cross-border RMB business. At the end of the reporting period, the balance of off-balance-sheet trade financing was 464.785 billion yuan.

(2) Retail financial business

The Bank strives to build a digital retail bank, adheres to the "customer-centered" business philosophy, builds a new "hyperbolic" business development model, deepens the "first curve", gives full play to the advantages of branch outlets and full-time wealth management managers, and enhances offline production capacity; Expand the "second curve" and accelerate the transformation and upgrading of services; Strengthen digital drive, continue to deepen the comprehensive operation of retail customers, increase the total number of retail customers and improve their quality; Accelerate the structural adjustment of the debt side, increase the scale of retail deposits, optimize the structure and improve the cost; Promote the transformation of asset-side business, start intensive management, create famous products of Sunshine retail loans, support the development of inclusive finance, increase the scale of retail loans, and maintain stable asset quality; Continue to deepen the transformation of wealth management, adapt to the diversified investment needs of customers, increase product supply, and the characteristics of wealth management become more and more distinct. During the reporting period, the operating income was 33.002 billion yuan, up 1.032 billion yuan year-on-year, or 3.23%, accounting for 42.07% of the bank’s operating income, of which the net interest income from retail sales was 22.987 billion yuan, up 3.56% year-on-year, accounting for 40.56% of the bank’s net interest income. The net non-interest income of retail sales was 10.015 billion yuan, up 2.48% year-on-year, accounting for 45.98% of the net non-interest income of the Bank.

1. Retail customers and managing the total assets of customers. The Bank promotes the construction of a retail customer management system with "hierarchical grouping, data-driven, channel collaboration and transaction transformation" as the core, optimizes the organizational structure, sets up a customer operation center, and gradually realizes the online operation of all basic customers; Focus on relying on offline channels to serve high-end customers and continuously improve the level of centralized management; Establish a retail business center, cultivate digital capabilities, promote digital retail construction, reshape business processes, re-create service models, vertically empower front-line account managers, drive customers to operate in layers and groups with data capabilities, and enhance customers’ comprehensive contributions. At the end of the reporting period, there were 146,998,900 retail customers (including debit and credit card customers), and the number of middle and high-end customers with monthly average assets of 500,000 yuan or more increased by 5.93% over the end of last year; Mobile banking, Sunshine Life and Cloud Payment have accumulated 220,893,200 users, a year-on-year increase of 42.07%, of which 37,202,600 are monthly users (MAU); Aum was 2,310.267 billion yuan, an increase of 187.800 billion yuan or 8.85% over the end of last year.

2. Retail deposit business The Bank deepened the comprehensive operation of deposits, upgraded the scale, optimized the structure and improved the cost according to the high-quality development orientation; Actively expand channels such as social security and people’s livelihood, health care, business circle management, community property, transportation, cultural and educational tourism, consumer payment and Internet innovation platform, and give full play to the role of the project in obtaining customers in batches; Strengthen the coordinated development of the public-private linkage agency business, optimize the comprehensive financial service platform of "salary manager", promote the marketing activities of "full salary and sufficient benefits", and carry out the characteristic operation of the agency customer base; Increase channel linkage, actively expand the third-party fast payment card-binding business, increase the transaction volume of online platforms, and drive the settlement funds to be deposited and retained; Adhere to differentiated product marketing strategies, implement refined product management, promote digital precision marketing, and enhance customers’ comprehensive income. At the end of the reporting period, the balance of retail deposits (including the retail part of other deposits) was 949.560 billion yuan, an increase of 91.258 billion yuan or 10.63% over the end of the previous year.

3. Retail loan business The Bank actively practices the concept of "finance for the people", fully serves the national strategy of expanding domestic demand, vigorously develops inclusive finance, increases the credit supply of small and micro customers, and increases the supply of inclusive credit loans; Continue to implement fee reduction and profit-making, give customers deferred debt service support, and help customers affected by the epidemic to bail out; Actively deploy financial support measures for new citizens to enhance their sense of gain; Keep a close eye on changes in policies and market situation, and adjust the strategies of mortgage and inclusive products in a timely manner; Carry out intensive management, promote the integration of business risks, promote the construction of risk control system in the whole process of online lending, adhere to the dual improvement of business development and risk control capabilities, and achieve balanced development of scale, efficiency and quality. At the end of the reporting period, retail loans exceeded the trillion yuan mark, and the balance (excluding credit cards) was 1,029.878 billion yuan, an increase of 46.914 billion yuan or 4.77% over the end of the previous year.

4. Wealth management business The Bank firmly takes the scale of expanding AUM as the "North Star" indicator, accelerates the transformation of wealth management, comprehensively enhances the value of retail financial channels through the "hyperbolic" integrated development, and injects new kinetic energy into retail finance; Create an offline hierarchical and professional team of financial managers, build a new management model of "hall integration" in outlets, and improve the service efficiency of outlets; Gradually build an open ecosystem of online Everbright characteristic wealth management, improve the content operation system, incubate scene financial projects, and strengthen marketing innovation; Strengthen the asset allocation ability, enrich the wealth management and agency product system, adapt to the diversified investment needs of customers, accompany customers well, and promote the continuous expansion of wealth management scale and steady improvement of benefits. During the reporting period, the net income from personal wealth management fees was 4.723 billion yuan, up 5.70% year-on-year, of which the income from agency wealth management increased by 14.24%, the income from agency trust increased by 18.58% and the income from agency insurance increased by 25.43%.

5. Private Banking The Bank adheres to the customer group business model of data guide+scene acquisition+full journey companionship (DSC), strengthens the construction of data center, and conducts in-depth insight, portrait, identification and positioning of customers through data center; Go deep into the whole life cycle scenes of private customers’ socialization, wealth, life, education, healthy pension, and open up the boundaries between transactions and non-transactions, financial and non-financial, online and offline services; From the perspective of internal operation to the perspective of customer journey, we will establish the omni-channel collaborative service capability of mobile banking+video investment+offline team (OVO, online+video IC+offline), so as to realize seamless connection and full journey companionship among all channels. We adjusted the agency business structure, focused on improving the insurance contribution, and optimized the strategy and layout of public offering and private placement. The retail agency business achieved a revenue of 1.804 billion yuan, up 0.43% year-on-year, ranking among the top in the industry. Accelerate the digital transformation, the three major product channels of mobile banking realize the transformation from shelf sales to content operation mode, iterative upgrade of private special edition, online customer journey, scene finance, interactive service and intelligent recommendation; Establish a platform for private bank customers’ A-currency points to improve their rights and interests service capabilities; The cloud payment platform has fully opened up the fund and insurance trading system, and initially realized the dual-platform layout of wealth management. At the end of the reporting period, there were 53,273 private bank customers, an increase of 3,252 or 6.50% over the end of last year. Assets under management amounted to 537.076 billion yuan, an increase of 35.948 billion yuan over the end of last year.An increase of 7.17%.

6. Credit card business

The Bank firmly promoted the credit card business to return to the source of consumption, strengthened the introduction of young and high-spending customers, and launched the Yokado and Yaokado cards for young customers, with the proportion of high-quality customers increasing by 14 percentage points year-on-year; Strengthen customers’ use of cards to promote activities, and form normalized marketing activities such as "about Friday", "about dinner", "about shopping" and "about playing". During the reporting period, online transactions increased by 38.33% year-on-year, and Sunshine Life APP had 11,523,200 monthly users, ranking among the top three credit card apps; Improve the installment business management system, systematically optimize the approval, credit granting, product management and marketing promotion of installment business, and steadily increase the installment overdraft balance; Improve the response efficiency of science and technology to business, speed up the construction of a new generation of integrated business management system, and focus on promoting the construction of marketing activity operation management, integrated management of electricity and electricity; Improve the effectiveness of risk management and control, expand data sources, improve the ability to identify new customers, strengthen the normalized risk management and control of existing customers, and promote the collection and disposal of non-performing assets. The overdue rate and non-performing rate have decreased from the end of last year; Strengthen the protection of consumers’ rights and interests, improve the customer-centered whole-process service mechanism, and enhance customer satisfaction. At the end of the reporting period, there were 46,017,000 credit card customers, an increase of 1,662,000 this year; The transaction amount was 1,379.79 billion yuan, a year-on-year increase of 2.56%; The time-point overdraft balance (excluding the adjustment of in-transit losses) was 449.417 billion yuan; Realized business income of 21.488 billion yuan.

7. Digital Finance and Cloud Payment Service

The Bank continued to promote the construction of digital banking and accelerated the digital transformation of the whole bank. At the end of the reporting period, the replacement rate of electronic transactions was 99.02%. There were 55,007,500 registered users of mobile banking and 16,018,500 monthly users, up 17.42% year-on-year; There are 916,300 registered users of corporate online banking, and the transaction amount is 27.68 trillion yuan, up 28.72% year-on-year. Cloud payment continues to maintain the leading edge of China’s largest open and convenient payment platform, the number of project access continues to increase, the coverage area of collection services is further expanded, and the output channels of the platform continue to expand. At the end of the reporting period, there were 13,354 access payment projects, with an increase of 1,091 this year, an increase of 8.90%; There are 703 cumulative output platforms, with 35 new platforms this year, an increase of 5.24%; The number of payment transactions was 1.134 billion, a year-on-year increase of 21.28%; The payment amount was 247.432 billion yuan, a year-on-year increase of 25.91%; There are 123 million direct customers, with 17 million new customers this year, an increase of 16.04%; The monthly users of direct link customers were 9,660,900, a year-on-year increase of 6.17%. Strengthen the collaborative empowerment of mobile banking and cloud payment dual apps and the characteristic construction of self-operated platforms to open up the whole process experience of customers; Complete the user information integration of mobile banking, online banking and light application platform, and launch the new mode of "one-stop service for financial management, social security, payment and loan"; The cloud payment platform will accelerate the ecological construction of "life+Microfinance" and improve the ability of social security applet traffic gathering and customer conversion. Focus on scene financial construction,From the four dimensions of industry, enterprise, government affairs and (), we will provide comprehensive financial service solutions, and key businesses such as logistics and Anjutong will achieve rapid development; Logistics has accelerated the horizontal and vertical three-dimensional promotion, and has formed certain advantages in the field of road freight. There are more than 40 head cooperative enterprises, serving more than 7 million freight drivers, and the transaction amount during the reporting period is 85.489 billion yuan; Anjutong established in-depth cooperation with a number of mainstream service organizations based on the second-hand housing transaction scenario, with a transaction amount of 123.379 billion yuan during the reporting period; In terms of government affairs scenes, focusing on customs, courts, welfare lottery and other scenes, important breakthroughs have been achieved in many regions.

(III) Financial market business The Bank’s financial market business strictly implements regulatory requirements, focuses on wealth management and value creation, and continuously improves the operational level and investment and trading ability of financial market business from the perspective of serving the real economy; Strengthen inter-bank franchise management, optimize asset structure, control debt cost by using market band, and promote financial inter-bank business to improve quality and efficiency; Give full play to the role of hosting business platform, increase the integration of resources and realize the strategic value of hosting business; Continue to enrich the colorful sunshine product system, actively participate in the pilot project of old-age financial management, and create sustainable value returns for investors. During the reporting period, the operating income was 15.395 billion yuan, an increase of 1.421 billion yuan or 10.17%, accounting for 19.62% of the bank’s operating income.

1. Treasury business

Focusing on the financial origin, the Bank optimized the asset-liability structure according to the market situation, improved the refined operation level of funds, and ensured the safety of liquidity; Give full play to the advantages of forward-looking judgment in the market and continuously improve the investment and trading level of local and foreign currency bonds; In-depth service to the national strategy, help the development of the real economy, and focus on the allocation of government bonds, local bonds, policy financial bonds and high-grade credit bonds, involving rural revitalization, clean energy, common prosperity, and foreign trade security; Do a good job in product pedigree construction, actively promote interest rate and exchange rate valet business, and serve the safe-haven needs of entity enterprises; Increase the business linkage between the head office and branches, promote collaborative empowerment, and meet the needs of customers for comprehensive financial services; Bond underwriting was strengthened, and the underwriting ranking of national debt and securities debt remained at the forefront of joint-stock banks. At the end of the reporting period, the Bank’s self-operated bond portfolio was 1,148.397 billion yuan, accounting for 18.35% of the Bank’s assets, of which national bonds and local government bonds accounted for 45.40%.

2. Financial interbank business

The Bank strengthened the exclusive management of the same industry, maintained a moderate business scale, and ensured compliance and steady operation; Actively carry out market research and judgment, accelerate the transformation of inter-bank operations, continuously optimize the asset structure, and promote the quality and efficiency of inter-bank business; Enhance the ability to support the real economy, take the national strategy as the guide, increase support for manufacturing, benefiting small and micro enterprises, green finance, rural revitalization and other fields, and conscientiously implement the requirements of steady growth; Explore diversified development paths, enrich the connotation of inter-bank operation, release the efficiency of inter-bank operation, extend the boundary of collaborative service, accelerate the business development in the fields of bond, custody, wealth management and factor market, start the construction of digital integrated service platform for inter-bank institutions, and create a new starting point for inter-bank operation of "building external ecology and realizing internal synergy"; Continue to pay attention to liquidity safety and help the bank’s liquidity management; Adhere to the risk bottom line, strictly control business risks, strengthen credit risk monitoring and early warning, and maintain stable asset quality. During the reporting period, the Bank has carried out business cooperation with 3,829 peer customers. At the end of the reporting period, the balance of interbank deposits was 442.953 billion yuan.

3. Asset management business

Industry, government affairs, new industries and other four dimensions to provide integrated financial services, logistics, housing and other key businesses to achieve rapid development; Logistics has accelerated the horizontal and vertical three-dimensional promotion, and has formed certain advantages in the field of road freight. There are more than 40 head cooperative enterprises, serving more than 7 million freight drivers, and the transaction amount during the reporting period is 85.489 billion yuan; Anjutong established in-depth cooperation with a number of mainstream service organizations based on the second-hand housing transaction scenario, with a transaction amount of 123.379 billion yuan during the reporting period; In terms of government affairs scenes, focusing on customs, courts, welfare lottery and other scenes, important breakthroughs have been achieved in many regions.

(III) Financial market business The Bank’s financial market business strictly implements regulatory requirements, focuses on wealth management and value creation, and continuously improves the operational level and investment and trading ability of financial market business from the perspective of serving the real economy; Strengthen inter-bank franchise management, optimize asset structure, control debt cost by using market band, and promote financial inter-bank business to improve quality and efficiency; Give full play to the role of hosting business platform, increase the integration of resources and realize the strategic value of hosting business; Continue to enrich the colorful sunshine product system, actively participate in the pilot project of old-age financial management, and create sustainable value returns for investors. During the reporting period, the operating income was 15.395 billion yuan, an increase of 1.421 billion yuan or 10.17%, accounting for 19.62% of the bank’s operating income.

1. Treasury business

Focusing on the financial origin, the Bank optimized the asset-liability structure according to the market situation, improved the refined operation level of funds, and ensured the safety of liquidity; Give full play to the advantages of forward-looking judgment in the market and continuously improve the investment and trading level of local and foreign currency bonds; In-depth service to the national strategy, help the development of the real economy, and focus on the allocation of government bonds, local bonds, policy financial bonds and high-grade credit bonds, involving rural revitalization, clean energy, common prosperity, and foreign trade security; Do a good job in product pedigree construction, actively promote interest rate and exchange rate valet business, and serve the safe-haven needs of entity enterprises; Increase the business linkage between the head office and branches, promote collaborative empowerment, and meet the needs of customers for comprehensive financial services; Bond underwriting was strengthened, and the underwriting ranking of national debt and securities debt remained at the forefront of joint-stock banks. At the end of the reporting period, the Bank’s self-operated bond portfolio was 1,148.397 billion yuan, accounting for 18.35% of the Bank’s assets, of which national bonds and local government bonds accounted for 45.40%.

2. Financial interbank business

The Bank strengthened the exclusive management of the same industry, maintained a moderate business scale, and ensured compliance and steady operation; Actively carry out market research and judgment, accelerate the transformation of inter-bank operations, continuously optimize the asset structure, and promote the quality and efficiency of inter-bank business; Enhance the ability to support the real economy, take the national strategy as the guide, increase support for manufacturing, benefiting small and micro enterprises, green finance, rural revitalization and other fields, and conscientiously implement the requirements of steady growth; Explore diversified development paths, enrich the connotation of inter-bank operation, release the efficiency of inter-bank operation, extend the boundary of collaborative service, accelerate the business development in the fields of bond, custody, wealth management and factor market, start the construction of digital integrated service platform for inter-bank institutions, and create a new starting point for inter-bank operation of "building external ecology and realizing internal synergy"; Continue to pay attention to liquidity safety and help the bank’s liquidity management; Adhere to the risk bottom line, strictly control business risks, strengthen credit risk monitoring and early warning, and maintain stable asset quality. During the reporting period, the Bank has carried out business cooperation with 3,829 peer customers. At the end of the reporting period, the balance of interbank deposits was 442.953 billion yuan.

3. Asset management business

Focusing on the colorful sunshine smile curve and starting from the national strategy and customer needs, the Bank continuously enriched the net worth wealth management product system, and issued a number of wealth management products such as Pratt & Whitney, Common Prosperity, New Energy, Support for the Army and Regional Theme. Deeply participate in the pilot project of old-age financial management, develop a series of old-age products that meet the long-term old-age needs and life cycle characteristics, and provide diversified solutions for new citizens’ old-age services; Strengthen the systematic investment capacity building of production-research-investment, pay attention to the investment opportunities of new economy, new energy and new infrastructure, and the transformation and upgrading of traditional economy, traditional energy and traditional infrastructure to create sustainable value returns for investors; Adhere to compliance management, implement risk control responsibilities, improve the initiative and foresight of risk management and control, and escort high-quality development. At the end of the reporting period, the balance of consolidated non-guaranteed wealth management products of the Bank was RMB1,185.323 billion, an increase of RMB117.614 billion or 11.02% over the end of the previous year, of which the balance of net wealth management products was RMB1,141.141 billion, accounting for 96.27%. During the reporting period, non-guaranteed wealth management products issued a total of 2.08 trillion yuan.

Topic 1: Sunshine Wealth Management Reaches a New Level In 2004, the Bank launched RMB wealth management products for the first time in China, and Sunshine Wealth Management began to enter the public’s field of vision, becoming an indispensable financial tool for residents’ wealth management, public asset allocation and real economy services. After 18 years of accumulation, precipitation and continuous optimization and upgrading, especially since the new asset management regulations in 2018, under the vigorous promotion of the net transformation of wealth management products and the reform of corporate system of wealth management business, Sunshine Wealth Management adheres to the new development concept, comprehensively strengthens capacity building, and achieves a new level of wealth management business with a new look.

First, focus on the transformation of net worth, and the product system will reach a new level. Around the market demand and product characteristics, combined with the general trend of asset management and wealth management, upgrade and build a "colorful sunshine net worth product system"; Taking "fixed income+"as the main product line, the all-weather series products are launched. By arranging products with different risk and return characteristics, the characteristics of colorful sunshine product system are more obvious and the sunshine smile curve is more flexible. We launched the first digital RMB wealth management product in the market, the first infrastructure public offering REITs investment product, the first batch of pension wealth management products and direct equity investment products, and issued theme products such as common prosperity, rural revitalization, ESG, children’s education, concerted anti-epidemic, and military exclusivity to meet the diversified needs of different customer groups. At the end of the reporting period, the balance of net wealth management products of Sunshine Wealth Management was 1,141.141 billion yuan, accounting for 96.27% of the total scale of Sunshine Wealth Management.

Second, focus on serving the real economy, and the investment and research ability will reach a new level.

Promote the systematic investment structure of production, research and investment, actively integrate into the national development strategy, support the development of green economy, lay out key industries such as new energy, high-end manufacturing and consumption upgrading, support the financing of specialized and special new enterprises, deeply participate in public investment in REITs, and comprehensively help small and medium-sized enterprises and private enterprises to solve problems. During the reporting period, under the complicated internal and external environment, the withdrawal of Sunshine wealth management products was controllable and the fluctuation was small, showing good risk control ability and the ability to continuously create income for investors in the face of market fluctuations. Since 2004, Sunshine Financial Management has accumulated more than 410 billion yuan for investors.

Third, focus on refined management and reach a new level of comprehensive risk management and control.

Adhere to the principle of maximizing the interests of investors and prudent and steady operation, improve the risk management structure of three lines of defense, and optimize the control of credit risk, market risk, liquidity risk, concentration risk, portfolio risk and operational risk from four levels: macro, regional/industry, enterprise/project and mode; Adhere to the "combination+diversification" risk management strategy, establish an elastic combination of risks and benefits that can reflect market characteristics, ensure that the net value of wealth management products fluctuates within a reasonable range, and achieve the control goal of risk isolation, measurability and affordability; For the first time in the industry, the self-assessment of institutional money laundering risk was carried out and completed, and it was the first among the financial subsidiaries of joint-stock commercial banks to pass the internal control verification of international standards.

Faced with new opportunities such as the redistribution of residents’ wealth, the construction of the second and third pillars of old-age care, digital construction, and the universal development of wealth management, Sunshine Financial Management will shoulder the responsibility, keep its initial heart and continue to create sustainable value returns for investors.

4. Asset custody business

The Bank’s asset custody business adheres to value symbiosis, co-construction and sharing, gives full play to the role of "big platform", strengthens coordination and integration of resources in various sectors, and achieves effective growth in custody scale and custody income; In view of market changes, optimize product strategy, actively market innovative products such as public offering REITs and pension financing, broaden the types of trust custody business, strengthen annuity marketing, and lay out personal pension business; Establish business structure, sort out business sectors, strengthen system construction, optimize and improve product system and business system, and improve service capacity; Actively respond to the impact of the epidemic, start an emergency plan, and ensure the safe and continuous operation of custody. At the end of the reporting period, the after-tax income of the Bank’s custody business was 927 million yuan, and the custody scale was 7,578.448 billion yuan.

X. Business Innovation The Bank gave full play to the advantages of the special fund for financial science and technology innovation, improved the innovation management mechanism, strengthened innovation guidance and incentives, and strived to build a new pattern of hyperbolic innovation and development. By the end of the reporting period, the Bank had established 78 innovative projects, of which 23 have achieved phased results. Cloud Payment, Logistics Link and inclusive finance Cloud System were awarded "China Digital inclusive finance Innovation Achievements in 2021", and Social Security Cloud Payment won the gold medal in the 5th Digital Finance Innovation Competition; The Sunshine Supervision Platform for Medical Consumables has innovated the government’s "liquidation+supervision" process, integrated SAAS service modules to provide a full range of online financial services for the platform, serving more than 3,000 medical institutions and pharmaceutical companies.

XI. Information Technology

The Bank deepened the construction of "123+N" digital banking development system. "One Smart Brain" continues to be empowered, with over 900 training algorithm models and over 2,300 customer tags; Realize the cross application of multimodal biometrics, covering more than 500 scenes. The "two major technology platforms" accelerate self-control. The cloud computing platform 3.0 (full-stack cloud) adopts the technical architecture of "dual-stack and multi-core in one stack", providing 35 kinds of cloud services in 9 categories, and the cloud rate on business application systems is close to 90%; The total data of big data platform exceeded 11PB, increasing by 23.23% compared with the end of last year, making it the first bank in China to realize centralized localization of data warehouse platform. The "three service capabilities" focus on mobility, openness and ecology, innovate new online service models and channels, and build a digital-driven ecological service system with Everbright characteristics. The "N Digital Famous Products" include 24 items such as cloud payment, free loan and logistics, providing convenient online financial services. Outstanding achievements in scientific and technological projects, and 16 patents or soft works were obtained during the reporting period; "Distributed ledger application specification" and "mobile financial client application software specification" were selected as the "leaders" list of enterprise standards in the financial field in 2021.

Continue to increase investment in science and technology and the construction of talent team. At the end of the reporting period, the investment in science and technology was 2.138 billion yuan, an increase of 434 million yuan or 25.47%. There are 2,598 scientific and technical personnel in the Bank, an increase of 237 over the end of last year, accounting for 5.69% of the employees in the Bank. Build a 7*24-hour security operation command center, upgrade the intelligent operation and maintenance system, and carry out network security inspection, data security inspection, information system emergency drills and centralized disaster backup switching drills to ensure the stable operation of the information system and business continuity during the epidemic. Topic 2: Financial technology helps digital transformation of business. The Bank adheres to technology leadership, strengthens technology empowerment, implements technology stationing mechanism in corporate, retail and digital finance fields, and conducts two-way communication between technology and business positions in departments of the Head Office, promoting deep integration of technology and industry, responding to business needs promptly, and promoting digital transformation and development of business.

First, empower corporate finance and improve the level of customer acquisition and living.

Promote the project of "China-Taiwan for corporate customers and China-Taiwan for corporate marketing", and make efforts to build the customer system and scenario finance; Strengthen the application of data analysis, push 3.58 million pieces of information about potential customers, and open 32,000 accounts; Expand the "1+N" financial scenario of trading banks, and realize the access of large enterprise platforms, with a total of over 10,000 customers; Build products such as Sunshine "Fortune+"and cash management cloud to enhance online financial service capabilities.

2. Empowering retail finance, improving customer service and business ability, promoting the new generation of retail credit, retail customers in Taiwan, retail marketing in Taiwan and operation strategy in Taiwan, and optimizing operation tools and marketing models; A new generation of retail credit system will be launched to realize online application, automatic approval, intelligent risk control and fine management. Enrich the function of the mobile phone version of the personal account manager’s workbench to help business people "fight the epidemic" to work at home; Carry out off-line data backflow of retail financial cloud studio, and assist business personnel in customer group operation analysis; Improve the precision marketing ability, provide a list of 3 million intelligent marketing activities, and increase the number of wealth customers by 58,000.

Third, empower digital finance and improve online channel service capabilities

We will promote the open banking project and intelligent operation strategy project, continue to build a "wealth+openness" service ecosystem, and jointly build a private domain traffic operation ecosystem with cooperative institutions. Mobile banking has added a special edition for private banks and a special zone for digital RMB. The innovative R&D portal of branches is connected to 17 branches, and the service number platform is connected to 34 merchants. The customer rights platform supports many rights and interests activities such as logistics communication and the exchange of A-currency points for private banks. A total of 30 long-tail customer group data mining models have been built, and more than 7,800 new business strategies have been added.

The Bank continues to promote the reform of financial technology system and optimize the governance structure of technology. It plans to rename the Information Technology Department as the Financial Technology Department, and set up a new data asset management department, a technology research and development center and an intelligent operation center. In the future, a "two-department and two-center" financial technology system will be formed, which will promote the capacity building of business, data and technology, further strengthen technology empowerment and accelerate the pace of digital transformation.

XII. Investment Situation

(1) Foreign equity investment

At the end of the reporting period, the balance of the Bank’s long-term equity investment was 12.983 billion yuan, and other major equity investments were 1.0975 billion yuan.

XIII. During the reporting period, there was no significant equity sale of the Bank.

XIV. Major Holding Companies

(I) Everbright Financial Leasing Co., Ltd. The company was established in May 2010, engaged in financial leasing business, registered in Wuhan City, Hubei Province, with a registered capital of 5.9 billion yuan. During the reporting period, it mainly focused on public utilities, infrastructure construction, urbanization and other areas of the national economy and people’s livelihood, as well as new materials, new energy, high-end manufacturing and other national strategic emerging industries, forming a certain brand advantage in the field of aviation equipment and vehicle equipment, and actively expanding the field of wind power, covering the whole country. At the end of the reporting period, the total assets were 125.548 billion yuan, the net assets were 12.311 billion yuan, and the net profit during the reporting period was 876 million yuan.

(2) Everbright Financial Management Co., Ltd.

Founded in September 2019, the company is engaged in asset management related businesses such as issuing public wealth management products, issuing private wealth management products, wealth management consultants and consulting. It is registered in Qingdao, Shandong Province with a registered capital of 5 billion yuan. During the reporting period, we continuously enriched the "colorful sunshine" smile curve, continuously improved product lines such as retail, private banking, institutional customization, and off-bank agency sales, deepened pension financing, improved the availability of new citizen services, focused on national key strategies, and continuously increased service support for the real economy and market players. At the end of the reporting period, the total assets under management amounted to 1,185.515 billion yuan, with total assets of 7.820 billion yuan and net assets of 7.352 billion yuan. During the reporting period, the net profit was 984 million yuan.

(III) Beijing Sunshine Consumer Finance Co., Ltd. The company was established in August 2020, engaged in the business of issuing personal consumption loans, registered in Beijing, with a registered capital of 1 billion yuan. During the reporting period, we actively promoted the construction of our own scenes and the improvement of our independent risk control capabilities. At the end of the reporting period, total assets were 9.444 billion yuan, net assets were 1.144 billion yuan, and net profit was 132 million yuan during the reporting period.

(4) Guangyin International Investment Co., Ltd.

Founded in June 2015, the company is registered in Hong Kong with a registered capital of HK$ 2.6 billion, and holds business licenses for securities trading, securities consulting, financing consulting and asset management. During the reporting period, investment banking services such as sponsorship and underwriting, additional placement of listed companies and corporate refinancing were mainly carried out. At the end of the reporting period, the total assets were HK$ 11.022 billion and the net assets were HK$ 1.919 billion, with a loss of HK$ 149 million during the reporting period.

(V) China Everbright Bank Co., Ltd. (Europe) The company was established in July 2017, registered in Luxembourg with a registered capital of 20 million euros. It is a fully licensed banking institution, and its main business includes taking deposits, issuing loans, issuing bills, issuing bonds and all other businesses that can be carried out as a credit institution according to Luxembourg laws. During the reporting period, we focused on risk participation and buying. At the end of the reporting period, the total assets were 77.89 million euros, the net assets were 14.33 million euros, and the net profit during the reporting period was 810,000 euros.

(VI) Shaoshan Everbright Rural Bank Co., Ltd. This rural bank was established in September 2009 and engaged in commercial banking business such as deposits and loans. It was registered in Shaoshan City, Hunan Province with a registered capital of 150 million yuan. During the reporting period, "based on agriculture, rural areas and farmers, serving Shaoshan", we developed small and micro businesses, boosted county economy and explored financial support for rural economic development. At the end of the reporting period, the total assets were 856 million yuan, the net assets were 233 million yuan, and the net profit during the reporting period was 4.27 million yuan.

(VII) Jiangsu Huai ‘an Everbright Rural Bank Co., Ltd. The rural bank was established in February 2013, engaged in commercial banking business such as deposits and loans, registered in Huai ‘an City, Jiangsu Province, with a registered capital of 100 million yuan. During the reporting period, it served agriculture, rural areas and farmers, expanded small and micro businesses and maintained steady development. At the end of the reporting period, the total assets were 1.131 billion yuan, the net assets were 142 million yuan, and the net profit during the reporting period was 5.03 million yuan.

(VIII) Jiangxi Ruijin Everbright Rural Bank Co., Ltd. The rural bank was established in November 2018 and engaged in commercial banking business such as deposits and loans. It was registered in Ruijin City, Jiangxi Province with a registered capital of 150 million yuan. During the reporting period, we actively explored services for agriculture, rural areas and farmers and developed small and medium-sized micro-businesses. At the end of the reporting period, the total assets were 573 million yuan, the net assets were 175 million yuan, and the net profit during the reporting period was 7.18 million yuan.

XV. Structured entities controlled by the Bank The structured products in which the Group enjoys interests but are not included in the scope of consolidated financial statements mainly include special asset management plans.

XVI. Risk Management

(A) credit risk management

The Bank improved the consolidated risk management mechanism and unified management at home and abroad to ensure the effective transmission of risk policies and credit policies; Continue to strengthen the management of loan concentration and reasonably control the credit scale and proportion of a single enterprise; Carry out the risk monitoring breakthrough mechanism under the unified risk limit, include the risk customers with both general credit and interbank credit into the key monitoring scope, and implement the management of tying the mouth; Further improve the remote credit management mechanism; Promote the construction of automatic examination and approval management system and sunshine early warning platform, implement unified examination and approval management, establish a pre-trial consultation mechanism between China and Taiwan, and improve the accuracy of marketing and risk prevention and control; Strengthen the research management of credit industry and improve the pertinence of risk management policy guidance; Use big data, artificial intelligence and blockchain to transform traditional risk control technologies to improve the digital and intelligent level of risk management. The Bank actively serves market players, helps stabilize the economic market and promotes the steady growth of credit; Support major national strategies and do a good job in financing services in infrastructure construction and major projects; Support strategic emerging industries, advanced manufacturing industries and modern service industries, and increase medium and long-term loans for manufacturing industries, private enterprises and green industries; Implement the policy of delaying repayment of principal and supporting credit loans, increase financial relief efforts, and help stabilize the main body and stabilize employment; Separate the credit plan for small and micro enterprises and give special credit support to small and medium-sized enterprises; Strengthen financial services in the consumer sector and implement the policy of expanding domestic demand.

The Bank accurately classifies assets and dynamically and objectively reflects the risk status; Adhere to a prudent and prudent provision policy, and make impairment measurement and provision in strict accordance with the new accounting standards for financial instruments; Improve the whole process management mechanism of asset quality, strengthen portfolio monitoring and penetrating risk monitoring of large credit customers, and strengthen risk prevention in key areas; Increase the disposal of non-performing loans and broaden the disposal channels.

(2) Liquidity risk management

The Bank adheres to the prudent concept of liquidity risk management, maintains an adequate and steady liquidity level and strictly adheres to the bottom line of liquidity safety by implementing proactive liquidity management strategies; Closely follow the changes of economic and financial situation at home and abroad, face the uncertain factors such as epidemic situation and geopolitical conflict, make forward-looking liquidity strategy planning, and strengthen diversified debt planning; Regularly carry out stress tests and emergency plan evaluation, strictly control liquidity risk limits, and achieve a balance between liquidity, safety and efficiency; Strengthen the construction of consolidated management and governance system, and enhance the ability of bank groups to resist risks.

(3) Market risk management

The Bank closely follows the international political and economic situation and domestic and foreign markets, conducts forward-looking judgment and management on interest rate risk, exchange rate risk and liquidity, and establishes a market risk management system covering all aspects of market risk identification, measurement, monitoring and control; Strengthen the management of market risk limit; Actively promote the implementation of the Basel III market risk new standard method consulting and system construction project.

(4) Management of large risk exposure

The Bank implemented the Management Measures for Large-scale Risk Exposure of Commercial Banks (China Banking and Insurance Regulatory Commission Order No.1 of 2018), continuously strengthened the management of large-scale risk exposure, carried out the measurement, monitoring and system optimization of large-scale risk exposure in an orderly manner, and effectively controlled the risk of customer concentration. During the reporting period, all quota indicators of the Bank’s large risk exposure were controlled within the regulatory scope.

(V) Country-specific risk management

The Bank incorporated country risk management into the comprehensive risk management system, established a country risk management system suitable for the bank’s risk status and complexity, regularly monitored country risk exposure, carried out stress testing, and formulated major risk handling procedures. At the end of the reporting period, the international ratings of the countries with country risk exposure of the Bank were all above investment grade, and the country risk reserve was fully accrued according to the regulatory requirements.

(VI) Operational risk management

The Bank strengthened the dynamic identification and monitoring of operational risk management, effectively used historical data, and continued to do a good job in risk prevention, problem tracking, risk disposal and rectification; Pay attention to the trend of supervision and punishment in real time, analyze and summarize the key violations, and draw inferences from other cases to prevent the delay; Carry out risk case collection activities, and strengthen warning notification and education and training on common risks in key areas; Continue to promote consulting management projects, deepen scientific and technological empowerment, and constantly improve operational risk management and measurement systems.

(VII) Compliance risk management

The Bank keeps track of changes in external laws and regulations and dynamically optimizes the construction of internal rules and regulations; Focus on the key areas of regulatory concern, strengthen the governance of repeated investigations and repeated crimes, and improve the quality and efficiency of compliance inspections; Improve the comprehensive evaluation index system of internal control and compliance management, strengthen the early warning and reporting management of compliance risks of consolidated institutions, and build a long-term mechanism for compliance management; Establish the management mechanism of corporate lawyers and improve the echelon construction of legal compliance talents; Improve the authorization management system and strengthen dynamic adjustment; Optimize the flight inspection mechanism, continuously carry out the investigation of abnormal capital transactions of employees, and be serious and accurate in accountability.

(VIII) Reputation risk management

The Bank attaches great importance to reputation risk management, and has incorporated reputation risk management into the overall risk management system according to the management idea of "early warning, in-depth judgment and proper disposal". Further clarify the main responsibility, strengthen the regular investigation of reputation risk hidden dangers, do a good job of pre-prevention and post-evaluation and closely integrate reputation risk management with business development and customer service to effectively safeguard the good reputation and brand image of banks.

During the reporting period, the Bank did not have any major reputational risk events that caused serious harm to the bank’s reputation.

(9) Money laundering risk management

The Bank revised the anti-money laundering internal control system and improved the money laundering risk management system; Strengthen the construction of anti-money laundering talent team; Carry out the risk assessment of money laundering of legal person institutions; Investigate the money laundering risks of digital RMB and correspondent banks; Strengthen the control of high-risk customers; Optimize the function of anti-money laundering system, improve the suspicious transaction monitoring model, and develop a new generation of anti-money laundering list monitoring system; Strengthen sanctions compliance and management of overseas institutions, strictly fulfill international obligations and fully implement relevant resolutions.

(X) Credit policy in key areas The Bank complied with the regulatory guidance, increased credit support in the fields of coal, coal-fired electricity and hydropower, and ensured energy security and the stability of industrial chain and supply chain; Support the nuclear capacity increase, production expansion and new production projects of large coal enterprises in major coal producing areas such as Shanxi, Shaanxi and Mongolia, and promote the coal mines with potential for increasing production to release production capacity as soon as possible; Support the ultra-low emission reconstruction projects of large coal-fired power enterprises in areas with abundant coal resources and convenient transportation to ensure the reasonable financing needs of coal-fired power enterprises; Support coal production enterprises to save energy and reduce carbon, transform and upgrade and green development. The Bank attaches great importance to risk prevention in the real estate sector, adheres to the positioning of "housing and not speculating", implements the regulatory requirements of "two concentrations" and reasonably controls the total amount of real estate loans. Adhere to the management of customer list system for public business, and give priority to the selection of high-quality leading enterprises for cooperation; Strict project compliance management, the implementation of funds closed regulatory requirements. Retail business develops personal mortgage loans around core areas and projects, and implements differentiated mortgage and pledge rate management according to regional and project conditions; Do a good job in the access management of real estate projects, and choose developer projects with strong business ability and good financial status. Support the work of "ensuring the delivery of buildings, people’s livelihood and stability", handle risks according to the principles of marketization and rule of law, and resolve stock risks; According to the investigation results of risky buildings, the balance of overdue mortgage loans with the risk of "guaranteeing the property" is small, and the overall risk is controllable. Since the beginning of this year, the frequent spread of epidemic has caused a serious impact on the stable operation of the economy and greatly affected the consumption of residents.Credit card business development and asset quality are facing challenges. The Bank strengthened model transformation, focused on desirable customers, built a customer service ecosystem, and promoted customer structure optimization; Pay attention to the consumer service attribute of credit card business and improve the quality and efficiency of Huimin convenience service. Strengthen the construction of intelligent risk control, enhance the ability of customer risk and value identification, and provide high matching financial services; From the perspective of optimizing risk portfolio management, we will promote the optimal allocation of quotas and pricing, and enhance customer experience and contribution. Increase risk disposal, enrich the dimension of customer risk judgment, monitor the risk of existing credit card business, promote the optimization of collection management mechanism, improve the ability of independent collection and digital collection, and maintain the relative stability of credit card business assets quality. With the recovery of future economic growth and the improvement of consumption expectations, credit card business will usher in a higher quality, more standardized and healthier development stage.

XVII. Future development prospect

(a) the completion of the business plan

The Bank actively implemented regulatory requirements, made overall plans for epidemic prevention and control and business development, steadily improved its asset-liability business, and achieved business results in line with expectations, maintaining a good momentum of steady progress.

(II) Possible Risks and Countermeasures From the perspective of the international environment, the changes in the past 100 years and the epidemic in the century are intertwined, the world economic recovery is struggling, and global development has suffered serious setbacks. Some important industrial chains and supply chains have been artificially disturbed, commodity prices have fluctuated at a high level, global inflationary pressures have remained high, international financial markets have continued to be turbulent, and the momentum of world economic recovery has been weakening. From the domestic situation, China’s economic development and epidemic prevention and control have maintained a leading position in the world, with strong economic resilience, and the long-term positive fundamentals have not changed. At the same time, China’s economic development is also facing three pressures: demand contraction, supply shock and expected weakening. Competition in the banking industry will be more intense, financial technology will develop rapidly, and capital constraints will be tighter. The traditional business philosophy and model of commercial banks will face great challenges. Adhering to the strategic vision of "building a first-class wealth management bank", the Bank has firmly implemented the central decision-making and actively supported the strategy of serving the country. Second, persist in optimizing the business structure and promote high-quality development; The third is to persist in innovation-driven and strengthen scientific and technological empowerment; The fourth is to optimize customer service and safeguard consumers’ rights and interests; The fifth is to adhere to the bottom line thinking and resolutely prevent and resolve business risks.

According to the "Science Curriculum Standards for Compulsory Education Primary Schools" revised by the Ministry of Education, since the beginning of this autumn, primary school science courses have been listed as "basic courses" as important as Chinese and mathematics, and the initial grade has been extended to the first grade of primary school. This change has been widely recognized by teachers and parents.

Science education has always been an important part of Lide Shuren’s work. In today’s era, science education has a fundamental role in improving the scientific quality of the whole people and laying a solid foundation for building an innovative country. Nowadays, science and technology are changing with each passing day, which is profoundly changing people’s production and lifestyle. Because of this, everyone living in the era of rapid development of science and technology must have scientific quality. Science education in primary schools is of great significance to stimulate and protect children’s curiosity and thirst for knowledge, and to cultivate students’ scientific spirit and practical innovation ability. From this point of view, the cultivation of scientific quality must be grasped and grasped from an early age.

It should also be noted that science education is not limited to theoretical education. The goal it pursues is not only to master scientific knowledge, but also to put the learning of scientific knowledge in the process of hands-on practice and in the situation of the relationship between science and society under the grand natural and social picture. The new curriculum standard emphasizes that primary school science is a practical and comprehensive course, and the course regards inquiry activities as an important way for students to learn science, and comprehensively uses knowledge and methods in different fields to understand natural phenomena and solve practical problems. These requirements are obvious to the improvement of students’ practical ability, scientific thinking and scientific spirit. How to cope with the new changes of science curriculum standards? As the main force, schools and teachers need to make changes and innovative attempts in teaching concepts and teaching practices, and push open the door to the guidance of science education in primary schools. And all kinds of high-quality science education institutions, such as universities, scientific research institutes and popular science venues, should also take active actions to create conditions for ensuring the implementation of science courses, so that the skylight of science education in primary schools can directly reach the sky of science.

With the support of Shanghai Education Commission, Shanghai Science and Technology Museum and Shanghai Natural Museum established cooperative relations with 127 primary and secondary schools in Shanghai in 2016 alone, and developed 97 library-based courses suitable for different age groups, and 40 science courses have been officially started in schools. Not long ago, the "Future Science+"summer science camp project of Shanghai popular science forum sponsored by Shanghai Science and Technology Museum also made a useful attempt on science education. Some students said that this kind of science education not only enabled them to learn scientific knowledge, but more importantly, they were educated in a future-oriented world outlook, outlook on life and values, and knew how to learn science and think across disciplines. Science education institutions, including popular science venues, have unique advantages in science education because of their rich interactive natural science exhibits and facilities, which can provide more opportunities for students to practice and think scientifically. To develop science education in primary schools well, education administrative departments and school management departments need to establish stable communication channels and long-term cooperation models with popular science venues, make good use of the resources of popular science venues, and promote the development of science courses through cooperation between libraries and schools.

General Secretary of the Supreme Leader once emphasized that "scientific and technological innovation and scientific popularization are the two wings to realize innovation and development, and scientific popularization should be placed in the same important position as scientific and technological innovation". Teenagers are the key population and basic population for the popularization of science. Only by constantly innovating and invigorating science education in primary schools and attaching importance to front-line practice can we guide students into the door of science, subtly spawn a group of innovative brains and cultivate more modern talents with scientific literacy for the future.(Deputy Director, Research Center for Science Communication and Development, Shanghai Science and Technology Museum) Song xian)

CCTV News:Since the beginning of this year, China has continuously opened up new channels for foreign trade, and many ports and hub stations have given new vitality.

China-Europe trains exceeded 6,000 in the first four months of high-quality development.

Accelerating the high-quality development of China-Europe trains is one of the eight actions to jointly build the "Belt and Road" with high quality. The latest data released by China State Railway Group Co.,Ltd. shows that this year 1-mdash; In April, China-Europe trains operated a total of 6,184 trains and delivered 675,000 TEUs, up 10% and 11% respectively year-on-year, and the growth rate continued to expand compared with the first quarter.

Huanghua Port — The China-Europe train in Moscow, Russia started for the first time.

With the long whistle, the train loaded with auto parts, machinery and equipment left Huanghua Port in Cangzhou, Hebei Province on May 13th, which marked the official opening of the first China-Europe train in Huanghua Port. It is understood that the first train has a total of 50 standard containers, which will leave the country through Erenhot Port and be transported to Moscow, the Russian capital.

Since the beginning of this year, the freight train of the new land and sea passage in the west has exceeded 300,000 TEUs.

While China’s good things keep going out, foreign good things keep coming in. Qinzhou Port in Guangxi is the hub of land-sea combined transport in the new land-sea passage in the west, where a large number of goods from western China and ASEAN countries gather. As of May 12th, the container cargo transported by trains in the new land and sea passage in the west has exceeded 300,000 TEUs this year.

Pingxiang, Guangxi: The proportion of durians entering the country at Youyiguan Port is high.

Youyiguan Port, located in Pingxiang, Guangxi, is an important land passage for fruits from ASEAN countries to enter China. According to customs statistics, in the first quarter of this year, the value of fresh agricultural products imported through Youyiguan Port was 2.15 billion yuan. Among them, imported fresh durian was 1.85 billion yuan, accounting for 86%. With the continuous improvement of port convenience and the progress of cold chain preservation technology, more and more China consumers have eaten fresher imported durian.

China-Europe trains provide a stable channel for international economic and trade.

Since the beginning of this year, faced with the challenge of the international economic and trade environment and the uncertainty of logistics timeliness, China-Europe trains have been running steadily, which has consolidated the foundation of interconnection between Asia and Europe and provided strong support for China-Europe and global economic and trade exchanges.

In Yiwu, Zhejiang Province, this year, cross-border e-commerce has a new choice for transportation channels. More than 70% of the orders of many freight companies have been shipped from the sea to the Central European trains. In response to the increase in demand, China State Railway Group Co.,Ltd. has continuously expanded the transportation capacity of the China-Europe train corridor since this year. In the timetable from Xi ‘an to Duisburg, Germany, and from Chengdu to Lodz, Poland, the China-Europe train runs stably for 5 times a week; Successfully opened the Central European train from Urumqi, Xinjiang to Naples, Italy across the Caspian Sea and the Black Sea; 16 container return points will be added overseas to meet the diversified needs of customers.

The latest data from China State Railway Group Co.,Ltd. shows that this year is 1-mdash; In April, China-Europe trains operated a total of 6,184 trains and delivered 675,000 TEUs, up 10% and 11% respectively year-on-year, and the growth rate continued to expand compared with the first quarter.

Foreign-funded financial institutions overweight the layout of China market.

Recently, a number of foreign-funded financial institutions have set up more institutions and expanded their investment, and continued to increase the layout of the China market.

A few days ago, everything network information technology (Beijing) Co., Ltd. announced its official opening, which is the second joint venture bank card clearing institution opened in China.

In April, the ninth wholly foreign-owned fund management company in China was approved to start business. These days, the company is accelerating the expansion of its domestic team and preparing for the sale of its first Public Offering of Fund product.

Also in April, Faba Securities became the fourth wholly foreign-owned securities company in China. This is the second time that BNP Paribas has expanded its business layout in China after the unveiling of financial management in June last year. At present, 10 foreign-controlled securities companies, 9 wholly foreign-owned fund management companies and 3 foreign-controlled futures companies have been allowed to do business in China. While accelerating the business layout in China, foreign-funded financial institutions are constantly increasing their capital, expanding their scale, and continuously increasing the China market. In the first quarter, Fidelity Fund and Lubomai Fund respectively completed the fourth and third capital increase after their establishment.

The data shows that in the first quarter, the actual use of foreign capital in the financial industry increased by 1.4%, and the net increase of foreign capital in domestic bonds reached 41.6 billion US dollars, which exceeded the net increase of last year.

Shanxi Provincial Department of Culture and Tourism and other three departments.

Notice on printing and distributing the measures for the identification and management of intangible cultural heritage workshops

Jin Wen LV Fa [2022] No.69

Municipal Cultural and Tourism Bureaus, Human Resources and Social Security Bureaus and Rural Revitalization Bureaus:

In order to strengthen the standardized construction of non-legacy workshops in Shanxi Province, revitalize traditional crafts, promote employment and increase income, consolidate the achievements of poverty alleviation and help rural revitalization, the Provincial Department of Culture and Tourism, the Provincial Department of Human Resources and Social Security and the Provincial Rural Revitalization Bureau have formulated the Measures for the Identification and Management of Non-legacy Workshops, which are hereby printed and distributed to you. Please follow them and report the identification results to the Provincial Department of Culture and Tourism for the record before the end of each year. The original "Measures for the Identification and Management of Intangible Cultural Heritage Workshops" (Jinwen Lvfa [2022] No.39) was abolished.

I hereby inform you.

Shanxi Provincial Department of Culture and Tourism

Shanxi province labor resources and social security department

Shanxi province village revitalization bureau

December 31, 2022

(This piece is made public voluntarily)

Measures for the identification and management of intangible cultural heritage workshops

the firstIn order to promote the construction and management of non-legacy workshops in Shanxi Province, strengthen the protection of non-legacy workshops, increase employment, consolidate the achievements of poverty alleviation, and help rural revitalization, these measures are formulated in accordance with the spirit of the Notice on Continuously Promoting the Construction of Non-legacy Workshops to Help Rural Revitalization issued by the General Office of the Ministry of Culture and Tourism, the General Office of Ministry of Human Resources and Social Security, and the Comprehensive Department of the National Rural Revitalization Bureau, combined with the actual situation in our province.

the secondThe term "intangible cultural heritage workshop" as mentioned in these Measures refers to all kinds of business entities and production and processing points that rely on local intangible cultural heritage representative projects or traditional handicrafts to carry out intangible cultural heritage protection and inheritance and drive local people to find jobs nearby.

ArticleCounty-level cultural and tourism departments, together with human resources, social security and rural revitalization departments, are responsible for the selection, identification and management of non-legacy workshops.

Article 4Meet the following conditions, you can declare the non-legacy workshop:

(a) relying on one or more non-legacy representative projects, or traditional handicrafts with characteristics and certain mass base and market prospects to carry out production;

(two) there are leading enterprises, cooperatives or leaders in the construction and operation of non-legacy workshops;

(3) Having the site, water and electricity heating, tools and equipment for production;

(four) there are specific systems and measures to help the people out of poverty (including the monitoring object of preventing poverty, the same below) and put them in place, so as to attract more people out of poverty and achieve good results;

(5) Having a standardized management and production system and paying labor remuneration in full and on time;

(six) the products produced have good market prospects, and there are platforms and channels for display and sales;

(seven) to carry out skills training for employees on a regular basis;

(eight) the enterprise or individual has good credit and no illegal acts.

Article 5Non-legacy poverty alleviation and employment workshops that have been established in poverty-stricken areas will be included in the support scope of non-legacy workshops in accordance with the regulations.

Article 6In principle, the declaration of non-legacy workshops is carried out once a year.

Article 7The following materials shall be submitted to declare the intangible cultural heritage workshop:

(a) the name and address of the intangible cultural heritage workshop, the name, inheritor, category and level of the intangible cultural heritage project, or the name and main business of traditional handicrafts;

(two) the original (for verification) and copy of the site lease contract, real estate license or land use certificate;

(3) Employees’ information, including the information on the employees of the poverty-stricken population, the original (prepared) and photocopy of the signed labor service agreement or contract, and the Employment Roster for Absorbing the Labor Force from Poverty-stricken Families;

(four) the basic information and vouchers of operating income and salary payment;

(five) other supporting materials to prove that they meet the conditions for recognition.

Article 8Procedures for identifying non-legacy workshops:

In accordance with the principle of territorial management, the non-legacy project business entities and production and processing points voluntarily apply, and the township (street) will be jointly recognized by the county-level cultural and tourism department in conjunction with the human resources and social security and rural revitalization departments at the same level after passing the preliminary examination.

(a) the township trial. The township (street) government shall conduct a preliminary examination of the application materials and conduct on-the-spot investigation and verification, confirm those that meet the requirements, and submit the relevant materials to the county-level cultural and tourism departments after signing and sealing.

(2) County-level review. After reviewing the application materials, the county-level cultural and tourism departments will jointly review with the management departments of rural revitalization, human resources and social security, finance, etc., and the review will follow the principles of fairness, impartiality and openness.

(3) publicity. The county-level administrative department of culture and tourism will publicize the list of institutions to be identified as non-legacy workshops on the government portal website for 5 working days.

(4) Confirmation and filing. Those who pass the evaluation and publicity shall be recognized, and awarded the "non-legacy workshop" plaque or related logo, and reported to the provincial and municipal competent departments for the record.

(5) establish files. Accurately and truly record the evaluation of the non-legacy workshops, collect and summarize all the information and results of the evaluation of the non-legacy workshops, archive and properly keep the minutes of the evaluation meetings, and establish a complete evaluation file of the non-legacy workshops.

Article 9County-level cultural and tourism administrative departments, human resources and social security, and rural revitalization departments should do a good job in the guidance, supervision, and service of non-legacy workshops, and take the following measures to support the work of non-legacy workshops:

(1) Support willing enterprises, cooperatives and leaders to set up non-legacy workshops in poverty-stricken areas, key counties for rural revitalization, and ex situ poverty alleviation relocation and resettlement areas. Encourage other regions to build non-legacy workshops, incorporate the construction of non-legacy workshops into the rural revitalization work system in this region, explore the work of non-legacy assistance to rural revitalization, and promote the sustainable development of non-legacy workshops.

(two) will meet the conditions of the intangible cultural heritage workshop project into the county to consolidate and expand the achievements of poverty alleviation and rural revitalization project library, to give corresponding support.

(3) Support non-legacy workshops to cultivate characteristic labor brands and improve the employment quality of non-legacy workshop personnel. Non-legacy workshops recognized as provincial-level labor brands enjoy relevant support policies.

(four) if the intangible workshop is identified as an employment assistance workshop, it will enjoy the employment assistance workshop support policy. If it is recognized as an employment assistance base, it will be given a one-time award of up to 250,000 yuan according to regulations. Eligible candidates are selected as intangible productive protection demonstration bases and intangible tourism experience bases, and enjoy relevant support policies.

(5) If all kinds of workers set up non-legacy workshops, they shall be given policy support such as tax reduction and exemption, venue arrangement, business guarantee loans and interest subsidies, one-time business start-up subsidies and business start-up training subsidies in accordance with relevant regulations.

(6) Support qualified leaders of intangible cultural heritage workshops to select representative inheritors of intangible cultural heritage at all levels, rural cultural and tourism talents, rural craftsmen, etc.

(seven) in all levels of non-genetic inheritors training programs, set up special training for non-legacy workshops, carry out on-the-spot assistance actions, and build a sales platform for them. Relying on non-legacy workshops to carry out traditional manual vocational skills training, and giving vocational skills training subsidies to those who meet the requirements.

(eight) to establish a catalogue of non-legacy workshop products, to include high-quality non-legacy workshop products in the poverty alleviation consumption procurement catalogue, and to implant them in poverty alleviation supermarkets, agricultural supermarkets and other consumer places.

(nine) support the rational use of copyright, trademark rights, patent rights, etc., strengthen the protection of intellectual property rights, and cultivate well-known brands of non-legacy workshops with local characteristics.

(ten) to encourage the A-level tourist attractions, historical and cultural blocks and other places to provide support for the construction of production experience and sales platform for non-legacy workshops.

Article 10The recognized non-legacy workshops shall confirm or update the registration information to the county-level cultural and tourism departments every year.

Article 11County-level cultural and tourism administrative departments shall, in principle, evaluate non-legacy workshops every two years and implement dynamic management. For outstanding non-legacy workshops, they should be informed of praise and be tilted in the support of relevant policies and funds; Non-legacy workshops that fail to implement relevant requirements, play a bad role in radiation driving or cause adverse effects in violation of the provisions of these measures shall be rectified within a time limit.

Article 12In any of the following circumstances, the county-level cultural and tourism departments, human resources and social security, and rural revitalization departments will automatically cancel their qualifications, announce them, and shall not re-declare them within 3 years from the date of revocation of their names:

(a) take fraud, false and other improper means to defraud the establishment of intangible cultural heritage workshop;

(two) the creation and production violates the socialist core values, infringes on public rights and interests, infringes on intellectual property rights and causes certain consequences;

(three) the main person in charge of the non-legacy workshop has violated the law and discipline;

(four) not to carry out the work of the workshop for more than one year;

(five) non-legacy workshops that have not confirmed the registration information to the county-level cultural and tourism departments for two consecutive years;

(six) illegal misappropriation of special financial subsidies;

(seven) the deadline for rectification can not meet the requirements;

(eight) other acts that should cancel the non-legacy workshop.

Article 13These Measures shall be interpreted by the Shanxi Provincial Department of Culture and Tourism, the Shanxi Provincial Department of Human Resources and Social Security and the Shanxi Provincial Rural Revitalization Bureau.

Article 14These Measures shall be implemented as of January 31, 2023 and shall be valid for 3 years. The original "Measures for the Identification and Management of Intangible Cultural Heritage Workshops" (Jinwen Lvfa [2022] No.39) was abolished. According to the actual needs, all localities can formulate detailed policies and measures to ensure the strong promotion of the construction of non-legacy workshops.

　　Beijing Procuratorate Daily, August 26th (Reporter Xie Wenying) "164 votes in favor and 3 abstentions". On the morning of August 26th, the 12th meeting of the 13th the National People’s Congress Standing Committee (NPCSC) voted to pass the newly revised Drug Administration Law. The highlight of the revision is that the scope of counterfeit and inferior drugs has been revised, and drugs imported without approval have not been classified as counterfeit drugs. At the same time, respond to questions such as whether the network can sell prescription drugs.

　　Because China has not implemented compulsory license, some cancer patients are still "illegally" buying foreign generic drugs to save themselves. The experience of Lu Yong, a leukemia patient in Dying to Survive, is a true portrayal of this situation. In order to alleviate the contradiction of "expensive medical treatment" among the people, and let the public use good drugs more quickly and afford good drugs, the State Council requires speeding up the examination and approval of new drugs listed overseas and strengthening the supply guarantee of drugs in short supply, which are all reflected in the newly revised Drug Administration Law.

　　Yuan Jie, director of the Administrative Law Office of the Legal Affairs Committee of the National People’s Congress Standing Committee (NPCSC), said at today’s press conference that the import of drugs from abroad must be approved, which is a rule and principle made by law. Drugs that have not been approved, even those that have been legally listed abroad, cannot be imported. This time, the scope of counterfeit and inferior drugs was revised, and drugs imported without approval were no longer classified as counterfeit drugs, which was a response to the concerns of the people. The newly revised Drug Administration Law stipulates that if the circumstances are minor, the punishment may be reduced or exempted for importing a small amount of drugs legally listed abroad.

　　"It is not the same as reducing the punishment to take drugs imported without approval out of counterfeit drugs and stipulate them separately." Yuan Jie said that the law has strictly set legal responsibilities, and the production, import and sale of counterfeit and inferior drugs without obtaining the drug approval documents are still punished according to the production, import and sale of counterfeit and inferior drugs.

　　To implement the drug administration law well, the responsibility of the regulatory authorities should not be underestimated. Yuan Jie said that in the chapter on supervision and management, it is stipulated that if the drug supervision and administration department finds that a drug violation is suspected of committing a crime, it shall promptly transfer the case to the public security organ. The public security organ, the people’s procuratorate and the people’s court shall promptly transfer the case to the pharmaceutical supervisory and administrative department if there is no need to pursue criminal responsibility or be exempted from criminal punishment according to law, but administrative responsibility should be pursued.

　　There is a high degree of social concern about whether prescription drugs can be sold online. In this regard, the newly revised Drug Administration Law also responded. Liu Pei, director of the Policy and Regulation Department of National Medical Products Administration, said that the current law clearly stipulates that prescription drugs cannot be sold directly to the public through the Internet, and the revised Drug Administration Law stipulates the principle of comparison in selling drugs through the Internet, that is, it requires the drug sales through the Internet to comply with the relevant provisions on drug management, and authorizes the drug supervision and administration department of the State Council to formulate specific measures in conjunction with the health authorities of the State Council and other departments, and stipulates that several types of specially managed drugs cannot be sold online.

　　The newly revised drug administration law will come into effect on December 1 this year.

　　CCTV News:On October 23, 2017, the Ministry of Commerce issued Announcement No.61 of 2017, imposing anti-dumping duties on imported copolyformaldehyde originating in South Korea, Thailand and Malaysia. After a name change review, this measure will expire on October 23, 2022. At present, the corporate tax rate in Korea is 6.2%-30.4%, that in Thailand is 18.5%-34.9%, and that in Malaysia is 8.0%-9.5%.

　　On July 12, 2022, the Ministry of Commerce received the application for final review of anti-dumping measures submitted by Yunnan Yuntianhua Co., Ltd., Ningxia Coal Industry Co., Ltd., Kaifeng Yu Long Chemical Co., Ltd., Yankuang Lunan Chemical Co., Ltd., Tangshan Zhonghao Chemical Co., Ltd. and CNOOC Amano Chemical Co., Ltd. on behalf of domestic industries. The applicant claims that if the anti-dumping measures are terminated, the dumping of imported copolyformaldehyde originating in Korea, Thailand and Malaysia to China may continue or recur, and the damage to China’s industry may continue or recur, and requests the Ministry of Commerce to conduct a final review investigation on imported copolyformaldehyde originating in Korea, Thailand and Malaysia, and maintain the anti-dumping measures imposed on imported copolyformaldehyde originating in Korea, Thailand and Malaysia.

　　According to the relevant provisions of the Anti-dumping Regulations of the People’s Republic of China, the Ministry of Commerce has reviewed the applicant’s qualifications, the relevant information about the products under investigation and similar products in China, the import of the products under investigation during the implementation of anti-dumping measures, the possibility of continued or reoccurrence of dumping, the possibility of continued or reoccurrence of damage and relevant evidence. The available evidence shows that the applicant meets the provisions of Articles 11, 13 and 17 of the Anti-dumping Regulations of the People’s Republic of China on industry and industry representation, and is qualified to file an application on behalf of the paraformaldehyde industry in China. The investigation organ believes that the applicant’s claims and the prima facie evidence submitted meet the requirements of the final review and filing.

　　According to Article 48 of the Anti-dumping Regulations of the People’s Republic of China, the Ministry of Commerce has decided to conduct a final review investigation on the anti-dumping measures applicable to imported copolyformaldehyde originating in South Korea, Thailand and Malaysia from October 24, 2022. The relevant matters are hereby announced as follows:

　　I. Continue to implement anti-dumping measures

　　According to the suggestion of the Ministry of Commerce, the Customs Tariff Commission of the State Council decided to continue to levy anti-dumping duties on imported copolyformaldehyde originating in South Korea, Thailand and Malaysia in accordance with the scope of taxable products and tax rates announced by the Ministry of Commerce in the annex during the final review investigation of anti-dumping measures.

　　The anti-dumping tax rates levied on companies are as follows:

　　Korean companies:

　　1. Korea Engineering Plastics Co., Ltd. 30.0%

　　（KOREA ENGINEERING PLASTICS CO.,LTD.）

　　2. (Zhu) Kelong Plastic Co., Ltd. 6.2%

　　（KOLON PLASTICS, INC.)

　　3. Other Korean companies 30.4%

　　（All others）

　　Thai company:

　　1. Thailand Polyformaldehyde Co., Ltd. 18.5%

　　（THAI POLYACETAL CO., LTD.）

　　2. Other Thai companies 34.9%

　　（All others）

　　Malaysian company:

　　1. Baoli Plastics (Asia Pacific) Company 8.0%

　　（Polyplastics Asia Pacific Sdn. Bhd.）

　　2. Other Malaysian companies 9.5%

　　（All others）

　　Second, the review investigation period

　　The dumping investigation period of this review is from July 1, 2021 to June 30, 2022, and the industrial injury investigation period is from January 1, 2018 to June 30, 2022.

　　Third, review the scope of products under investigation

　　The scope of products reviewed is the products to which the original anti-dumping measures apply, which is consistent with the scope of products to which the anti-dumping measures announced by the Ministry of Commerce are listed in the annex, as follows:

　　Product name: copolymerized polyoxymethylene, also known as polyoxymethylene copolymer, or polyoxymethylene copolymer.

　　English name: Polyformaldehyde Copolymer, or Polyoxymethylene Copolymer, or Copolymer-type Acetal Resin, or Acetal Copolymer, etc. English name is usually referred to as POM Copolymer for short.

　　Chemical molecular formula:-[CH2-O] n-[CH2-O-CH2-CH2] m-(n > m).

　　Physical and chemical characteristics: Copolymerized polyoxymethylene is a thermoplastic resin synthesized from formaldehyde, with -CH2-O- main chain and -[CH2-O-CH2-CH2]- block bond (the content of -CH2-O- is more than 50% by weight). At room temperature, it is usually a milky white or yellowish granular solid, and it also meets the following performance indexes:

　　

　　Main uses: Copolymer polyoxymethylene has good comprehensive mechanical properties such as high mechanical strength, high fatigue resistance, high creep resistance, etc. It can partially replace metal materials such as copper, zinc, tin and lead, and can be directly used or modified for automobile parts, electronic appliances, industrial machinery, daily necessities, sports equipment, medical appliances, pipeline fittings, building materials and other fields.

　　This product belongs to People’s Republic of China (PRC) Import and Export Tariff: 39071010 and 39071090. Other products under these two tax codes, such as homopolymerized polyoxymethylene and modified polyoxymethylene, are not within the scope of the products under investigation.

　　Fourth, the content of the review

　　The contents of this review investigation are: If the anti-dumping measures against imported copolyformaldehyde originating in Korea, Thailand and Malaysia are terminated, whether dumping and damage may continue or recur.

　　V. Register for the survey

　　Interested parties may, within 20 days from the date of this announcement, register with the Trade Relief and Investigation Bureau of the Ministry of Commerce to participate in this anti-dumping final review investigation. Interested parties participating in the survey shall provide basic identity information, the quantity and amount of products under investigation exported or imported to China, the quantity and amount of similar products produced and sold, and related information according to the Reference Form for Registration to Participate in the Survey. The reference format for registering for the survey can be downloaded from the website of the Trade Relief Investigation Bureau of the Ministry of Commerce.

　　Interested parties who register to participate in this anti-dumping investigation shall submit the electronic version through the "Information Platform for Trade Relief Investigation" (https://etrb.mofcom.gov.cn), and submit the written version at the same time according to the requirements of the Ministry of Commerce. The contents of the electronic version and the written version should be the same, and the format should be consistent.

　　The interested parties mentioned in this announcement refer to the individuals and organizations stipulated in Article 19 of the Anti-dumping Regulations of the People’s Republic of China.

　　Sixth, access to public information

　　Interested parties may download it from the website of the Trade Relief Investigation Bureau of the Ministry of Commerce or go to the Trade Relief Public Information Consulting Room of the Ministry of Commerce (Tel: 0086-10-65197878) to find, read, copy and copy the non-confidential text of the application submitted by the applicant in this case. During the investigation, interested parties may search, read, copy and copy the public information of the case through relevant websites or to the consulting room of trade remedy public information of the Ministry of Commerce.

　　VII. Comments on filing a case

　　If interested parties need to comment on the product scope, applicant qualifications, countries (regions) under investigation and other related issues, they can submit their written opinions to the Trade Relief and Investigation Bureau of the Ministry of Commerce within 20 days from the date of this announcement.

　　Eight, the investigation method

　　According to the provisions of Article 20 of the Anti-dumping Regulations of the People’s Republic of China, the Ministry of Commerce can obtain information from relevant stakeholders and conduct investigations by means of questionnaires, sampling, hearings and on-site verification.

　　In order to obtain the information needed for the investigation of this case, the Ministry of Commerce usually issues questionnaires to interested parties within 10 working days from the deadline for registration and participation in the investigation stipulated in this announcement. Interested parties can download the questionnaire from the website of the Ministry of Commerce and the sub-website of the Trade Relief Investigation Bureau.

　　The interested parties shall submit complete and accurate answers within the specified time. The answer sheet should include all the information required by the questionnaire.

　　IX. Submission and processing of information

　　In the process of investigation, interested parties shall submit comments, answers, etc. through the "Information Platform for Trade Relief Investigation" (https://etrb.mofcom.gov.cn), and at the same time submit the written version according to the requirements of the Ministry of Commerce. The contents of the electronic version and the written version should be the same, and the format should be consistent.

　　If the information submitted by interested parties to the Ministry of Commerce needs to be kept confidential, they may request the Ministry of Commerce to keep the relevant information confidential and explain the reasons. If the Ministry of Commerce agrees to its request, the interested party applying for confidentiality shall also provide a non-confidential summary of the confidential information. The non-confidential summary shall contain sufficient meaningful information so that other interested parties can have a reasonable understanding of the confidential information. If you cannot provide a non-confidential summary, you should explain the reasons. If the information submitted by interested parties does not indicate the need for confidentiality, the Ministry of Commerce will regard the information as public information.

　　X. Consequences of Non-cooperation

　　According to Article 21 of the Anti-dumping Regulations of the People’s Republic of China, when the Ministry of Commerce conducts an investigation, the interested parties shall truthfully reflect the situation and provide relevant information. If the interested party fails to truthfully report the situation and provide relevant information, or fails to provide necessary information within a reasonable time, or seriously hinders the investigation in other ways, the Ministry of Commerce may make a ruling based on the facts already obtained and the best information available.

　　XI. Time limit for investigation

　　This survey started on October 24th, 2022 and should be completed before October 24th, 2023 (excluding today).

　　XII. Contact information of the Ministry of Commerce

　　Address: No.2 East Chang ‘an Street, Beijing, China

　　Postal code: 100731

　　Import Investigation Division 3 of Trade Relief Investigation Bureau of Ministry of Commerce

　　Tel: 0086-10-65197586, 65198175

　　Fax: 0086-10-65198172

　　Related websites: the website of the Ministry of Commerce and the sub-website of the Trade Relief Investigation Bureau (the website is https://trb.mofcom.gov.cn).

　　Ministry of Commerce

　　October 23, 2022