标签归档：西安品茶上课

A shopping mall in Changsha forced merchants to open during the Spring Festival, and closed the store for 50,000 a day？ Here comes the response.

The interior of the shopping mall. Photograph by Xiang Yipeng

Zhongxin. com, Changsha, January 27 th, for the network transmission in Changsham international shopping plazaHunan Wanjiali Group responded that the shopping mall will not force merchants to open their business during the Spring Festival. This matter is a rumor and has been reported to the police.

The notice of this online transmission pointed out: "In order to respond to the national policy of celebrating the New Year on the spot and meet the consumption needs of consumers, the business hours of our shopping mall will not be adjusted during the Spring Festival in 2022, and it will operate normally according to the winter business hours: during the Spring Festival, all shops must ensure that they are open for business normally, and must not be late, leave early or close. If they are late, they will be punished by 500 yuan/time; The closed shop will be fined 50,000 yuan/day according to the contract area of 100 square meters or more, and 20,000 yuan/day according to the contract area of 100 square meters or less (including 100 square meters). "

The signing unit of the above notice is Hunan Wanjiali Group International Shopping Plaza Co., Ltd., and the signing date is January 12, 2022.

However, the reporter noticed that this notice was neither stamped with the official seal of the company nor signed by the legal representative of the company.

"The company did not issue this notice and did not force merchants to operate. The so-called fines for violating regulations are even more false. We only propose to all merchants to try to open as much as possible during the Spring Festival. " Huang Wen, director of the administrative office of Hunan Wanjiali Group, said in an interview that during the Spring Festival, the shopping mall itself is open normally, and the business hours are from 9: 30 am to 10: 00 pm. Merchants can decide whether to open or not according to their own conditions, and shopping malls will not intervene forcibly.

Why do you advocate the business of merchants? Huang Wen, for example, said that if a customer booked a New Year’s Eve dinner at a restaurant in the mall, but other restaurants were closed, then the customer’s experience would be discounted. "So we advocate that merchants are open during the Spring Festival, one is to serve customers, and the other is for the management consideration of shopping malls."

On the 26th, the reporter visited many storefronts such as clothing, mobile phones, training institutions, leather goods, catering, gold wares, etc. in the above-mentioned shopping malls, and the staff of the storefronts all said that they had not received the above notice.

Most stores said that they would open normally during the Spring Festival. Only a few training institutions and restaurants have made it clear that they will be closed for a few days during the Spring Festival, but staff will still be on duty during this period.

Why do you have to be on duty when you are closed? A staff member of a training institution said that according to his knowledge, the contract signed between the institution and the shopping mall included the agreement on the opening and closing time of the store.

"Judging from last year’s situation, our store’s business during the Spring Festival was not bad." Ms. Zhou, a staff member of a goldsmith shop in this shopping mall, said that this store will be open for business in the Spring Festival this year, and colleagues are ready for work.

"Our store will open as usual during the Spring Festival. For people who work in shopping malls, it is normal to go to work in the New Year." For going to work during the Spring Festival, a staff member of a brand clothing store in the mall seems very calm.

In response to this matter, the reporter interviewed Liu Ming, executive director of Hunan Ruibang Law Firm. He believes that if the online notice is true, the behavior of the mall is suspected of infringement, because there is a contractual relationship between the merchant and the mall. If the contract does not stipulate that the merchant must open during the Spring Festival, the mall has no right to make such demands on the merchant outside the contract; In addition, as a party to the contract, the mall has no right to fine, and the so-called fine has no legal effect. "And if the notice is false and forged, then the act of publishing false information to disrupt the production and operation of others is suspected of violating the Law on Public Security Administration Punishment, and the public security organ may impose penalties according to law; Seriously, it is also suspected of fabricating and deliberately spreading false information, and will be subject to criminal punishment. "

(Source: China News Network)

Reporting/feedback

A number of domestic beauty brands listed companies exceeded expectations.

　　Domestic beauty brands are on the rise, gradually occupying the market share of international cosmetics in China, which is expected to achieve a breakthrough from catching up to surpassing.

　　Recently, A-share cosmetics listed companies have successively disclosed the 2023 performance forecast. Under the background of consumption recovery, many companies, including Freda, Marubi, Shuiyang and Kesi, expect net profit to increase year-on-year.

　　The performance of subdivided tracks is beautiful

　　Marubi, a veteran domestic beauty company, released a performance forecast saying that the company expects to achieve a net profit of 300 million yuan to 330 million yuan in 2023, an increase of 72% to 89% year-on-year; The net profit after deduction was 220 million yuan to 250 million yuan, a year-on-year increase of 62% to 84%.

　　The company said that it is actively promoting the transformation of online channels. Among them, the content e-commerce of Marumi brand represented by Tik Tok Aauto Quicker increased by over 100%, and the second brand PL Love Fire increased by over 100%. In addition, the company firmly divides channels and products, implements the strategy of "big mind and single product", optimizes product structure, and reduces costs and improves efficiency.

　　The single product strategy and the promotion of online channels are the reasons why most domestic cosmetics listed companies achieved performance growth last year.

　　According to the data of Youth Intelligence, in 2023, the growth rate of platform cosmetics sales in Tik Tok was 47%, and that in Aauto Quicker was 69.7%. This feature is also reflected in the performance forecasts of many companies.

　　Shuiyang shares are expected to achieve a net profit of 280 million yuan to 320 million yuan in 2023, a year-on-year increase of 124% to 156%; The non-net profit deducted was 260 million yuan to 300 million yuan, up 169% to 210% year-on-year. The company owns its own brands: Effidan, Dashuidi and Royal Mud Workshop, and its agency brand business is also deeply bound with Johnson & Johnson.

　　Shuiyang Co., Ltd. said that during the reporting period, the multi-level brand matrix system of the company’s own brands was further improved, brand assets continued to precipitate, the agency brand business entered a benign track, the overall business and product structure were further optimized, and the proportion of high-margin brands continued to rise.

　　Freda is expected to achieve a net profit of 260 million yuan to 290 million yuan in 2023, an increase of 472% to 538% year-on-year; The non-net profit deducted was 116 million yuan to 146 million yuan, up 98% to 150% year-on-year.

　　After divesting the real estate development business, Freda has continuously empowered its core business development by relying on the strength of scientific research and development and the advantages of multi-brand omni-channel development. The company said that during the reporting period, the cosmetics business continued to build a brand matrix, broaden sales channels and achieve sustained and steady growth.

　　On the raw material side, Kesi, a leading sunscreen company, expects the net profit of returning to the mother in 2023 to be 720 million yuan to 760 million yuan, up 85.50% to 95.80% year-on-year.

　　During the reporting period, with the steady improvement of the market position of KES and the continuous growth of the market demand for sunscreen products, as well as the improvement of the company’s overall capacity utilization rate and the rapid release of new product capacity represented by new sunscreen agents, it helped the company to improve its main business income and gross profit margin. According to reports, in the future, the company will also invest in the construction of "10,000 tons of sunscreen products in Malaysia" to expand market demand in Asia-Pacific, Europe and other regions.

　　The medical and beauty sector also showed signs of recovery. Aimeike expects to achieve a net profit of 1.81 billion yuan to 1.9 billion yuan in 2023, a year-on-year increase of 43% to 50%; The non-net profit was 1.782 billion yuan to 1.872 billion yuan, a year-on-year increase of 49% to 56%.

　　Aimeike said that the company actively pays attention to market changes, provides high-quality services for downstream medical and beauty institutions at the academic and operational ends, better meets the needs of beauty seekers and enhances the depth of cooperation with customers. At the same time, through the distribution model, we will further expand the number of institutions covered by the company’s products and enhance the breadth of cooperation with customers. The company continues to increase investment in research and development expenses and do a good job in the research and development of pipeline products.

　　According to the performance forecast released by Jinbo Bio, the company’s net profit for returning to its mother in 2023 is expected to be 280 million yuan to 300 million yuan, up 156.47% year-on-year to 174.79%. The main reason for the increase in performance is that the company continues to increase R&D investment, actively develops new products and product upgrades, and strives to increase brand promotion and market development.

　　Constructing core competitiveness with high quality

　　Some people in the industry told reporters that scientific research is still the core issue. With the upgrading of consumer demand and the trend of rational consumption, cosmetics brands began to "roll" research and development, "roll" technology, "roll" ingredients and "roll" raw materials.

　　High-quality domestic brands sold well last year, mainly because they gradually gained the trust and recognition of consumers in terms of quality and safety, and their market competitiveness was constantly enhanced. At the same time, consumers’ rational consumption awareness was enhanced, and domestic brands with high cost performance and good use experience became the preferred choice.

　　In addition, the domestic beauty care brand has also broken the traditional operation mode and made bold innovations and attempts in marketing, attracting more young consumers. With the continuous improvement of the product strength and research and development strength of domestic beauty brands, its rising trend is expected to continue.

　　Caixin Securities Research Report pointed out that in the long run, with the gradual recovery of consumption, domestic brands continue to consolidate their brand potential and adjust their marketing strategies in time. Domestic brands with solid R&D functions, strong marketing capabilities and multi-brand matrices are expected to rise further.

　　It is worth noting that the market space for domestic beauty products to expand is still increasing. The report "Insight into the Development and Consumption of Cosmetics Market in China in 2023" shows that the market size of China’s cosmetics industry is about 516.9 billion yuan in 2023, up 6.4% year-on-year, and it is expected to increase to 579.1 billion yuan in 2025.

　　Recently, the General Office of the State Council issued the Opinions on Developing the Silver-haired Economy and Improving the Well-being of the Elderly. This is the first time that a special policy with the theme of silver-haired economy has been introduced at the national level, and it is also the first time to encourage the development of anti-aging products at the national level, which mentions promoting the research and development of cosmetic raw materials, formulation and production process design and development.

700,000 people across the country have a low admission rate for civil servants, and candidates laugh at themselves as ＂cannon fodder＂


　　At noon yesterday, after the exam, people who took the national civil service exam walked out of the examination room of Beijing Union University. Our reporter Zhang Tao photo


　　(Reporter Jiang Yanxin) At 9: 00 am yesterday, the national civil service examination was officially opened in 2009. The number of people taking the national civil service examination this year is about 775,000, more than 130,000 last year, and the number of candidates is the highest in the past years. Although the central authorities and their directly affiliated institutions plan to enroll 13,500 civil servants in 2009, which is slightly higher than that in 2008, the admission rate is still only 1.75%.


　　Candidates with low admission rate laugh at themselves as "cannon fodder"


　　Yesterday’s exam was arranged for administrative professional ability test (9: 00 am to 11: 00 am) and application (2: 00 pm to 4: 30 pm). Located in Muxidi, Xicheng District, the test center of Beijing No.8 Middle School Branch, the red banner indicates that the civil service exam will be held here. Although the entrance was prompted at 8: 40 on the blackboard at the school gate, from 8: 00 onwards, candidates came one after another and lined up naturally in order.


　　It is understood that in this year’s civil service examination, there are 95,000 candidates in Beijing, an increase of 15,000 over last year. Beijing has set up 132 test sites and 3,186 examination rooms in the city this year. This year, the proportion of the national civil service examination is 57: 1, which is more competitive than last year’s 46: 1. Many candidates who take the examination jokingly call themselves "cannon fodder".


　　Paying attention to the world food crisis by applying for the exam


　　In yesterday afternoon’s application examination, the theme of the examination questions was the food crisis. The reading materials provided by the examination paper amount to more than 9400 words. The question and answer includes seven aspects, which require candidates to summarize the causes of the world food crisis and the grain production situation in China from complicated materials. At the same time, candidates are also required to draft the Opinions on the Development of Grain Production as a functional department of the provincial government.


　　Zhong Jun, director of the Application Teaching and Research Section of Huatu Civil Servant Examination Research Center, said that this test closely follows social hotspots and focuses on the analysis ability of candidates and the ability to judge the effectiveness of some countermeasures in combination with the international and domestic situation.


　　Regarding why this topic was chosen, Zhong Jun said that food security is now a threat facing the whole world; At present, the financial crisis, oil shortage and other issues that everyone is generally concerned about are not particularly obvious around September when the exam questions are given.


　　The written test results will be announced in January next year.


　　It is understood that after the written examination of public subjects, the relevant departments will organize personnel to mark the papers, and it is expected that the written examination results will be announced in early January 2009. In order to avoid the problem of network congestion last year, this year’s candidates can also query by SMS. In addition, the interview and professional examination of the national civil service examination will be held before March 15, 2009, and the whole recruitment work will be completed before June next year.


　　-Related news


　　The exam is a serious violation of discipline for 5 years and cannot be re-tested.


　　(Reporter Jiang Yanxin) According to the relevant person of the National Civil Service Bureau, in order to purify the examination room environment and ensure fairness and justice, any candidate who is found by the relevant departments to be seriously violating discipline and discipline in the examination will be scored as zero, and will not be allowed to apply for civil servants again within five years. Many high-tech means have been used this year to investigate and deal with violations in the examination room. According to the relevant person in charge of the Beijing Municipal Personnel Bureau, radio signal shielding devices and radio signal monitoring vehicles have been set up in key test sites in Beijing. These devices can quickly find and accurately locate radio signals suspected of cheating, and at the same time investigate and block unknown signals and suspected cheating radio signals in time. In addition, the public security department will also strengthen the security patrol around the examination room to ensure the safety and fairness of the civil service recruitment examination.


　　-Key words of national examination


　　The examination questions are closely related to social hotspots and life.


　　Li Weiming, director of the quantitative relationship and data analysis teaching and research section of Huatu Civil Service Examination Research Center, said that the overall difficulty of this year’s administrative professional ability test is equivalent to last year, but the order of questions has changed. It is understood that this exam is closely related to social hotspots. The impact of the 2008 Beijing Olympic Games, the launch of the Shenzhou VII rocket, the subprime mortgage crisis and the significance of CPI are all reflected in this exam. At the same time, in the topic setting, many topics are more innovative, reflecting the timeliness and flexibility, and are closely related to life. For example, "Sima Qian and the rule of Wenjing, who was earlier"; For example, "what is the secondary meaning of the subprime mortgage crisis"; For example, "What school of thought of China was used in the’ harmony’ of the Olympic Games"; For example, "When did China’s 30-year economic system reform begin?" and so on.


　　Most candidates have not finished answering the questions.


　　There are 140 questions in the test, and some candidates report that some of the questions are too long and have too much reading. At 11 o’clock in the morning, the candidate Xiao Xia was a little depressed when he walked out of the test center of the Eighth Middle School: "The difficulty of the test questions is average, but the number of questions is too large. I only answered more than 90 questions. Other math problems can’t be solved by themselves, but they can only be blinded. It is estimated that they will be tested. " Xiao Xia said that he spent a lot of time reading books for this purpose, but unfortunately the effect was not good.


　　不少学生反映，两小时内要做完140道选择题，还要涂机读卡，实在没办法完成。据搜狐教育的调查显示，截至昨天中午12：00，超过5成网友认为试题难度中等，54.89%网友表示没有做完行政能力测验试题。


　　李委明主任表示，虽然今年依然有多数考生未答完全部题目，但和往年相比，答完的人相对较多。


　　专家　重考察考生分析能力


　　万学金路公务员研究中心专家表示，在行测考试中，今年的常识题从去年的完全考察法律常识，过渡到以国策考察为主的模式，让许多法律专业的考生显得有些“措手不及”。其中，只有6道法律常识题，而社会、经济、历史、时事题目则较大幅度增加。考试内容全面体现了考察考生知识面的广泛性，突出了对多种思维方式的考察和运用，特别是考生的分析能力成为考察重点。


　　同时，今年的题型保持稳定，但是给出的题干内容比往年有明显增加。总体阅读量继续增长。


　　本报记者 蒋彦鑫

责编：赵旋璇

Those who sign up for the judicial examination in 2019 from the 5th will be banned for life.

　　Beijing, June 5 (Leng Yuyang) According to the announcement of the 2019 National Unified Legal Professional Qualification Examination issued by the Ministry of Justice, online registration for the objective examination of this year’s judicial examination will be opened from today to June 20. The examination time for objective questions is August 31 and September 1 this year.

　　Data Map: On September 22, 2018, the national unified legal professional qualification examination was opened. China News Service reporter An Yuan photo

　　Registration for the 2019 Judicial Examination starts today.

　　In May this year, the Ministry of Justice issued the announcement of the 2019 national unified legal professional qualification examination. The online registration time for the objective examination is from June 5 to June 20, and the examination time is August 31 and September 1; The online registration confirmation time for subjective examination is from September 7 to 11, and the examination time is October 13.

　　In terms of registration conditions, the announcement stipulates that applicants should have a bachelor’s degree or above in law in full-time colleges and universities, a bachelor’s degree or above in illegal courses in full-time colleges and universities, and a master’s degree or above in law, and a bachelor’s degree or above in illegal courses in full-time colleges and universities, and have obtained corresponding degrees and engaged in legal work for three years.

　　In addition, according to the announcement, before the implementation of the Measures for the Implementation of the National Unified Legal Vocational Qualification Examination, graduates with bachelor’s degree or above in law major in institutions of higher learning who have obtained student status (examination record) or corresponding qualifications, or graduates with bachelor’s degree or above in illegal major in institutions of higher learning and have legal professional knowledge, can sign up for the National Unified Legal Vocational Qualification Examination.

　　At the same time, the announcement also made it clear that full-time undergraduate graduates (including junior college graduates) from ordinary institutions of higher learning and military academies in 2020 and recent master graduates applying for the same academic qualifications can sign up for the 2019 national unified legal professional qualification examination.

　　How to take the 2019 judicial examination?

　　— — Objective questions are divided into two batches of exams.

　　The announcement is clear. In 2019, the national unified legal professional qualification examination will be computerized, and the objective examination will be closed-book and computerized. The subjective examination is mainly computerized. If it is really difficult for the examinees to use the computer examination, they can apply for a paper-and-pencil examination when they confirm their registration for the subjective examination. The use of minority languages to participate in the examination, the subjective examination of the implementation of paper and pencil examination.

　　In terms of examination time, according to the announcement, in 2019, the objective examination of the national unified legal professional qualification examination was conducted in batches. The judicial administrative organ at the place of registration determines the examination batch of candidates according to the number of seats in each examination area and the number of applicants, which is divided into two batches on August 31st and September 1st, and the candidates take one of the batch examinations. In addition, the subjective test time is October 13th.

　　In terms of proposition, the national unified legal professional qualification examination implements the national unified proposition. The "2019 National Unified Legal Professional Qualification Examination Outline" formulated and published by the Ministry of Justice is the basis for the proposition.

　　Specifically, this year’s judicial examination objective test has two volumes. It is divided into test paper 1 and test paper 2. Each test paper has 100 questions, with a score of 150 points, including 50 single-choice questions, 1 point for each question, 50 multiple-choice questions and indefinite multiple-choice questions, with 2 points for each question. The total score of the two test papers is 300 points.

　　Among them, the first objective test paper will examine Socialism with Chinese characteristics’s theory of rule of law, jurisprudence, constitution, China’s legal history, international law, judicial system and legal professional ethics, criminal law, criminal procedure law, administrative law and administrative procedure law; The examination contents of the second paper include civil law, intellectual property law, commercial law, economic law, environmental resources law, labor and social security law, private international law, international economic law and civil procedure law (including arbitration system).

　　The subjective examination is a volume, including case analysis questions, legal document questions, essay questions and other questions, with a score of 180. Specific examination subjects are: Socialism with Chinese characteristics’s theory of rule of law, jurisprudence, constitution, criminal law, criminal procedure law, civil law, commercial law, civil procedure law (including arbitration system), administrative law and administrative procedure law, judicial system and legal professional ethics.

　　Data Map: On September 22, 2018, the national unified legal professional qualification examination was opened. China News Service reporter An Yuan photo

　　Strict examination discipline

　　— — Substitutes will be banned for life.

　　In terms of examination discipline, according to the "Measures for Handling Disciplinary Actions in the National Unified Legal Professional Qualification Examination" promulgated by the Ministry of Justice in September 2018, if serious cheating behaviors such as organizing cheating, illegally obtaining test questions, and taking exams are implemented, their test scores in that year will be invalid and they will not be allowed to apply again for the exam for life.

　　Specifically, the registration of people who do not have the conditions for examination registration by concealing personal information or false promises is invalid; Those who fraudulently apply for registration by providing forged or altered academic degree certificates and certificates, legal work experience, identity and household registration information, or obtain registration qualifications by bribery, coercion or other improper means may not apply for registration again within 2 years.

　　In addition, after the exam begins, candidates are found to be carrying equipment with the function of sending or receiving information, plagiarizing, viewing and eavesdropping on the text, audio-visual materials related to the exam content illegally brought into the examination room, transmitting the answer information by means of discussion, gesture, etc., plagiarizing other people’s answers or agreeing or assisting others to plagiarize answers. Their exam results in that year are invalid and they may not apply for the exam again within 2 years.

　　For candidates who have serious cheating, the handling method is clear, and their test scores in that year are invalid and they cannot apply again for life.

　　These acts include: forging, altering or stealing other people’s resident identity cards, household registration books, admission tickets and other supporting materials to take the exam; Invading the computerized examination system illegally or illegally obtaining, deleting, modifying or adding the data of the examination information system; Organizing cheating, or providing cheating equipment, programs or other help for others to organize cheating; Illegally obtaining test questions and answers or illegally selling or providing test questions and answers to others; Take the exam instead of others or let others take the exam instead of themselves.

How to balance the traditional folk custom of banning fireworks and firecrackers with environmental protection

　　During the Spring Festival holiday this year, Wang Hui, who lives in Harbin, Heilongjiang Province, finally slept for a few days.

　　"In the past, during the Chinese New Year, from the night of the New Year’s Eve to the morning of the first day, firecrackers would keep ringing, either unable to sleep or awakened. I feel much quieter this year. " Wang Hui said.

　　In recent years, the management of setting off fireworks and firecrackers has become more and more strict, and many places have made special legislation to ban fireworks and firecrackers, and Harbin is one of them. The Decision of the Standing Committee of Harbin Municipal People’s Congress on Prohibiting Fireworks and Firecrackers stipulates that those who set off fireworks and firecrackers in areas where fireworks and firecrackers are prohibited shall be fined in 500 yuan.

　　"This kind of regulation is very timely and useful. I have personal experience." Wang Huixiao said.

　　Hu Jing, a professor at the Institute of Environmental Resources Law of China University of Political Science and Law, said in an interview with the reporter of Legal Daily recently that setting off fireworks and firecrackers during the Spring Festival is a traditional folk custom in China, but it does bring problems such as disturbing people, environmental pollution and safety, and it is not advisable to completely ban and let it go.

　　"It is suggested that all localities legislate according to local conditions to achieve a balance between environmental protection and respect for folk customs. It should be emphasized that when punishing illegal acts, education and fines should be the main ones, and administrative detention should be used with caution to restrict personal freedom. " Hu Jing said.

　　More than 400 cities have legislated to ban it.

　　As in 2018, the "No Fireworks and Firecrackers" reminder message of Beijing Municipal Party Committee and Municipal Government arrived as scheduled before the Spring Festival. On February 3, 2019, the Beijing Municipal Party Committee and the Municipal Government sent a text message to remind the public: Please consciously abide by the prohibition regulations and do not set off fireworks and firecrackers within the Fifth Ring Road and other prohibited areas.

　　Two years ago, the SMS reminders of the Beijing Municipal Party Committee and Municipal Government were still "restricted". On January 25, 2017, the Beijing Municipal Party Committee and the Municipal Government sent a text message to remind them that fireworks and firecrackers can be set off from New Year’s Eve to the first day of the Fifth Ring Road, and from 7: 00 to 24: 00 from the second day to the fifteenth day, and the rest of the time is forbidden.

　　In 2005, the Standing Committee of the Beijing Municipal People’s Congress passed the Regulations on the Safety Management of Fireworks and Firecrackers in Beijing, which divided Beijing into forbidden zones, restricted zones and permitted zones for classified control, and allowed limited discharge of fireworks and firecrackers during the Spring Festival. In December 2017, the Standing Committee of the Beijing Municipal People’s Congress revised this regulation, clearly stipulating that the area within the Fifth Ring Road (including the Fifth Ring Road) in Beijing is an area where fireworks and firecrackers are prohibited.

　　For the management of setting off fireworks and firecrackers, Harbin City, Heilongjiang Province also experienced "from restriction to prohibition".

　　Since 1994, Harbin has experienced several legislative processes such as the prohibition and restriction of fireworks and firecrackers. In recent years, suggestions on banning fireworks and firecrackers have frequently appeared at the two sessions in Harbin. For example, Li Jihong, a representative of Harbin Municipal People’s Congress, thinks that setting off fireworks and firecrackers has some disadvantages, such as potential safety accidents, environmental pollution and waste of resources, and suggests that it be prohibited by legislation.

　　Since December 1, 2018, the Decision of the Standing Committee of Harbin Municipal People’s Congress on Prohibiting Fireworks and Firecrackers has been implemented, which clearly stipulates the areas where fireworks and firecrackers are prohibited and the punishment measures for illegal acts.

　　In terms of legislation prohibiting fireworks and firecrackers, there are many cities that are "one step at a time" except Beijing and Harbin, which are "restricted to prohibition". The data shows that at present, more than 400 cities across the country have explicitly banned fireworks and firecrackers through local legislation.

　　There is no need to ban it across the board.

　　"Setting off fireworks and firecrackers can set off the atmosphere, arouse traditional memories and have cultural value. But at the same time, air pollution, disturbing people and other issues can not be ignored. In fact, the management of setting off fireworks and firecrackers has gone through several times ‘ Prohibition, release and prohibition ’ With the emphasis on air quality in recent years, the policy of prohibiting discharge has returned again. " Yan Xinhui, an associate professor at Shanghai University of Political Science and Law, said.

　　In December 2003, Qingdao, Shandong Province took the lead in revising the original policy of "banning fireworks and firecrackers", clearly stipulating that fireworks and firecrackers can be set off during the Spring Festival. In 2004, Beijing changed the "ban" to "limit". By the end of 2006, more than 200 cities across the country had implemented the "ban on fireworks and firecrackers".

　　As Zhai Xinhui said, behind the repeated prohibition of fireworks and firecrackers is a contest between traditional folk customs and air quality.

　　On the one hand, people regard setting off fireworks and firecrackers as a part of the custom of the Spring Festival, and together with Spring Festival couplets, New Year pictures and other elements, they form a strong atmosphere of the Spring Festival.

　　On the other hand, setting off fireworks and firecrackers is regarded as an "accomplice" to aggravate air pollution. According to the monitoring data of the Department of Ecology and Environment of Henan Province, the air quality in Henan Province deteriorated sharply from 18: 00 on February 4 (New Year’s Eve) to 10: 00 on February 5 (Spring Festival), and the average concentrations of PM10 and PM2.5 increased by 34 μ g/m3 and 12 μ g/m3 respectively compared with the Spring Festival in 2018.

　　It is worth noting that the prohibition of fireworks and firecrackers in many places is no longer a simple policy return, but a clear way through local legislation.

　　Hu Jing believes that it is not necessary to ban fireworks and firecrackers across the board, and the practice of "limiting the time and area of fireworks and firecrackers" can be adopted. Judging from the regulations prohibiting the discharge of fireworks and firecrackers in various places, there are many ways to restrict the discharge of fireworks and firecrackers, and there are fewer comprehensive bans.

　　Li Jianwei, a professor at China University of Political Science and Law, also believes that we should listen to public opinions to the greatest extent on the basis of fully respecting folk customs, and protect folk customs as much as possible, and allow fireworks and firecrackers to be set off in limited time areas. We can’t make a "one size fits all" ban, but we should adopt a step-by-step and step-by-step model to gradually change the public customs.

　　"The prohibition of setting off firecrackers has an effect on reducing or alleviating pollution to a certain extent, but for the Chinese nation with a long culture of thousands of years, setting off fireworks and firecrackers during the Spring Festival itself is an important traditional custom. Therefore, the key to legislation is to grasp the balance point. For example, for areas with serious pollution and many people who are prone to traffic accidents, it is possible to prohibit discharge, or to designate special areas for discharge, and to use pollution-free and safe electronic firecrackers to a certain extent. " Ouyang Aihui, an associate professor at the School of Economics, Management and Law, University of South China, said.

　　Legislation should listen to the voice of the people.

　　Li Chao, who is doing business in Handan City, Hebei Province, used to set off firecrackers at the door to "welcome the god of wealth" when he opened the door on the fifth day.

　　"I heard that the punishment has been increased this year. Some people have been administratively detained for setting off fireworks and firecrackers. Pictures and videos have spread in the WeChat group and dare not let them go." Li Chao said.

　　On the first day of the fireworks ban, Shenyang police investigated and dealt with 66 illegal fireworks and firecrackers according to law; Since the Spring Festival, the public security organs in Weifang City, Shandong Province have investigated and dealt with 875 cases of illegal fireworks and firecrackers with 890 people … … After searching for "setting off fireworks and firecrackers" on the Internet, the reporter found that there were countless news reports that were punished for illegally setting off fireworks and firecrackers.

　　In recent years, more and more cities have joined the army of legislating against fireworks and firecrackers. Hu Jing believes that in the process of legislation and law enforcement, the punishment for illegal discharge of fireworks and firecrackers should be treated according to the situation and need not be too severe.

　　"Those who make corrections after dissuasion shall be exempted from punishment. If they do not listen to dissuasion and continue to set off fireworks and firecrackers, they may be punished. In terms of punishment methods, education and fines should be the mainstay. Unless the circumstances are particularly bad, it is not recommended to impose administrative detention. " Hu Jing said.

　　Experts believe that when changing customs through legislation, public opinions must be widely solicited, and scientific and democratic legislation must be achieved.

　　"The regulation of traditions and habits should follow the principles of democracy and the rule of law. On the one hand, fully consult the opinions of local residents. On the other hand, the introduction of various bans must follow the principle of the rule of law and avoid ultra vires. Special attention should be paid to avoiding simple and rude law enforcement. It can be considered to ban by region and time, and more publicity and explanation work should be done. " Yan Xinhui said.

　　Ouyang Aihui believes that local legislation to control excessive firecrackers during the Spring Festival is in line with the needs of building a China ruled by law. But this kind of legislation must conform to the basic principles of administrative law, namely, administration according to law and reasonable administration.

　　"Before legislation, we should attract public participation, listen to people’s voices, and reflect the democratic and scientific nature of legislation, instead of simply doing it overnight. In legislation, the prohibition of firecrackers should be based on legitimate considerations, and the prohibition provisions must be fair, moderate, reasonable and feasible. For those who do not need to ban discharge or do not need to ban discharge completely, there is no need to impose excessive restrictions. Otherwise, it will not only fail to achieve the corresponding effect, but also be vulnerable to public resistance, and it will also be a huge waste of administrative law enforcement resources. " Ouyang Aihui said.

　　□ Legal Network reporter Pu Xiaolei

How far are you from heatstroke in the collective sauna mode of Shanghainese today？

Shanghai Central Meteorological Observatory issued a yellow warning signal of high temperature at 08: 20 on July 8, 2022: Due to the influence of subtropical high, the temperature in this city is rising rapidly at present. It is estimated that the highest temperature in this city will exceed 35℃ today. Please do a good job in heatstroke prevention and cooling.

Current temperature

High temperature warning

—— Pay attention to heatstroke during the hot summer—

"Mid-summer"

Heatstroke is the thermal damage of the body caused by the accumulation of heat in the body when the individual exposed to the high temperature and high humidity environment (or the environment temperature is not high but there are heat dissipation obstacles) produces more heat than heat dissipation. The heat dissipation modes of the machine body include conduction, convection, radiation and evaporation. When the way of heat production and heat dissipation is balanced, the body temperature can be kept normal and stable; When heat production is greater than heat dissipation, the accumulation of heat in the body leads to the increase of core temperature and excessive sweat loss, which can lead to heatstroke. Core temperature change = body heat generation-(conduction heat dissipation+radiation heat dissipation+convection heat dissipation+evaporation heat dissipation) What kind of heat dissipation form the human body takes mainly depends on environmental conditions. Conduction, radiation and convection require a temperature difference between the skin and the environment. When the ambient temperature approaches or exceeds the skin temperature, evaporation is the only way to dissipate heat, and the amount of sweating increases obviously, which is prone to heatstroke. High humidity environment affects sweat evaporation and heat dissipation, which is also one of the reasons for heat accumulation in the body. When all four heat dissipation methods are affected, heatstroke is easy to occur.

one

Dear teammates, do you know anything about heatstroke?

Heatstroke is usually divided into premonitory heatstroke, mild heatstroke and severe heatstroke, among which severe heatstroke can be divided into heat spasm, heat exhaustion and heatstroke.

According to the diagnostic criteria of heatstroke, it was graded from three aspects: core temperature, consciousness change and clinical manifestations.

Mild heatstroke: that is, threatened heatstroke in the previous definition. Only the above symptoms of heatstroke, normal or slightly increased core temperature (< 38℃), no new disturbance of consciousness, no organ damage.

Moderate heatstroke: heat exhaustion. There is decompensation of organ dysfunction, and it can not meet the diagnostic criteria of heat stroke. It is often characterized by manifestations of insufficient blood volume, such as cold and wet skin, pale face, obviously increased heart rate, decreased blood pressure, oliguria, etc. You may have syncope, but you will regain consciousness within a few minutes without obvious neurological damage (GCS score = 15). Core body temperature increased (≥38℃, < 40℃).

Severe heatstroke: that is, heatstroke. After exposure to high temperature (high humidity) environment and/or strenuous exercise for a certain period of time, any of the following clinical manifestations appears, which cannot be explained by other reasons: ① central nervous system damage (such as coma, general convulsion, delirium, abnormal behavior, etc., GCS score ≤ 14); ② Core temperature ≥ 40℃; (3) multiple organ (≥2) dysfunction (liver, kidney, rhabdomyosis, gastrointestinal, circulatory and respiratory dysfunction, etc.); ④ Severe coagulation dysfunction or disseminated intravascular coagulation (DIC).

2

How should we deal with heatstroke?

1. Immediately terminate the training;

2. Move to a ventilated and cool place to rest;

3. Help heatstroke comrades to take off their equipment and coats, fan and sprinkle water for him to promote heat dissipation;

4. Drink 500-1000ml； of light salt water;

5. In the wild, you can use the surrounding trees and terrain to shade the sun, use your own kettle to get water, and even help your teammates immerse themselves in the water to cool down (avoid immersing your head in the water to avoid respiratory obstruction);

6. When the symptoms of heatstroke are still not improved after rest and drinking water, you should immediately ask the health personnel for help.

three

How to effectively prevent heatstroke in summer training?

Before training: half an hour before training, 200 -500ml； of boiled water or mineral water can be taken orally;

Training: In case of high temperature weather, sweating more, thirst, less urine and dark urine, light salt water should be replenished in time. Especially when there is weakness, numbness of hands and feet, dizziness, muscle spasm of limbs, etc., normal saline should be added immediately, or water and pickles should be added;

After training: add brackish water, pickles and slightly salty soup in time.

four

"Hot acclimatization" training, find out.

Thermal acclimatization is a special training to adapt to high temperature and high humidity environment based on physical training, which should be carried out every year before entering summer (mid-April), especially when the local temperature suddenly rises.

The temperature of thermal acclimation environment should be higher than 30℃. If the temperature is not enough, local high temperature environment can be created by increasing clothes. Thermal acclimatization requires continuous training for 10-15 days, 1.5-2 hours a day, and the exercise time can be reached in several times, but each time it should not be less than 50 minutes.

Training can be carried out through various forms of aerobic exercise, such as long-distance running, basketball, football and other ball games, with or without load training, etc. Training must reach a certain intensity, such as heart rate reaching 130-150 beats/min, sweating, etc.

After heat acclimatization training, the body’s body temperature regulation and organ protection ability can be greatly enhanced.

five

Choose a scientific and reasonable training opportunity

Personal factors: Know your physical condition before training and do what you can. Especially for those who are not systematic in early training, have fever, diarrhea, stay up late, etc., we must scientifically allocate physical fitness and make a reasonable plan.

Environmental factors: evaluate the environment before training. The meteorological threshold of heatstroke is daily average temperature > 30℃ or relative humidity > 73%. When the conditions of temperature and humidity coexist or one of them increases obviously, the incidence of heatstroke increases. When the daily maximum temperature is ≥37℃, the number of people suffering from heatstroke increases sharply.

Training factors: When the environment is hot and humid, when the probability of heatstroke increases, the training intensity should be adjusted reasonably, and comfortable and breathable clothes should be worn during training, and the rest time should be arranged reasonably before and after training. When arranging training, we should pay attention to strengthening medical support, carrying heatstroke prevention and cooling drugs, oral rehydration salts, commonly used injections and drugs, and carrying ice packs, thermometers and pulse oximeters for monitoring.

six

Tips of "Cool" for heatstroke prevention and cooling in summer.

Heatstroke is very common in the training of fire fighting in summer. It looks like a minor illness, but it also hides a big hidden danger. You must not take it lightly. In addition to the series of related knowledge mentioned above, I have a little hint:

Teammates can’t simply drink a lot of mineral water or pure water after training, so they must pay attention to the supplement of electrolytes.

Because a lot of sweating will cause a lot of electrolyte loss, simple hydration will cause low potassium and sodium, which will cause weakness, numbness of hands and feet, and in severe cases, heat spasm, coma, and even cardiac arrest, so timely supplementation of light salt water is the best choice.

Original title: "Today’s Shanghainese collective" sauna "mode, how far are you from heatstroke? 》

It is planned to broaden the channels for using insurance funds： stocks, funds, real estate, etc.


　　Perspective on the amendment of insurance law: broadening the channels for the use of insurance funds


　　Xinhuanet Beijing, August 25th (Reporter Mao Xiaomei, Wu Jingjing) China’s current insurance law stipulates that the use of insurance funds is relatively narrow. However, in recent years, with the increasing scale of the insurance market, the rapid accumulation of insurance funds has become a bottleneck for the development of the insurance industry because of the narrow channels of application and the difficulty of maintaining and increasing value.


　　Wu Dingfu, chairman of the China Insurance Regulatory Commission, explained the revised draft of the Insurance Law at the fourth meeting of the 11th the National People’s Congress Standing Committee (NPCSC) on 25th, saying that the revised draft appropriately broadened the channels for the use of insurance funds, considering that the use of insurance funds should not only meet the needs of industry and economic development, but also take into account the principles of safety and stability. For example, the "buying and selling government bonds and financial bonds" stipulated in the current insurance law is revised to "buying and selling bonds, stocks, securities investment funds and other securities"; It is added that insurance funds can be invested in real estate.


　　In order to prevent risks in the use of insurance funds, the revised draft also authorizes the State Council insurance regulatory agencies to formulate management measures for the use of insurance funds in the form of authorization clauses, including stipulating the specific proportion of funds invested by insurance companies in a specific project to their total funds.


　　In fact, the investment of insurance funds in stocks and funds has already been broken through in practice. In recent years, according to the decision of the State Council and the actual needs of the development of the insurance industry, the China Insurance Regulatory Commission (CIRC) combined with the provisions of the current insurance law "other forms of capital utilization stipulated by the State Council", A series of regulations and normative documents, such as Interim Measures for the Administration of Insurance Companies Investing in Securities Investment Funds, Interim Measures for the Administration of Insurance Companies Investing in Corporate Bonds, Interim Provisions for the Administration of Insurance Asset Management Companies, Interim Measures for the Administration of Overseas Use of Insurance Foreign Exchange Funds, and Interim Measures for the Administration of Stock Investment of Insurance Institutional Investors, have been issued successively. While broadening the channels for the utilization of insurance funds and trying to innovate the organizational form of fund utilization, they have achieved a good balance between safety and efficiency and effectively prevented the risk of fund utilization. At present, insurance companies have become one of the most important institutional investors in the domestic capital market.


　　"The revised draft of the Insurance Law is the new investment channel approved by the State Council in recent years." Yang Huabai, director of the regulatory department of the China Insurance Regulatory Commission, told reporters.


　　As for the insurance law’s plan to "open the gate" for the first time to invest in real estate with insurance funds, the relevant person of the China Insurance Regulatory Commission said that the scale of real estate investment is large and the term is long, which is more in line with the characteristics of insurance funds pursuing long-term, valuable and steady investment. Opening this channel can give play to the capital financing function of insurance, support the national economic construction, optimize the insurance asset structure and cultivate a new profit model for the insurance industry. In practice, some insurance companies have tried to invest in developing commercial real estate.


　　Yang Huabai said that for the regulatory authorities, the implementation of any new investment policy must be based on effective prevention and control of risks. "Once the law allows investment in real estate, the CIRC will first limit the proportion of this investment in the company’s total funds in the future and formulate a specific method for real estate investment." Because the insurance industry’s investment in real estate is still unfamiliar and lacks professional experience, it is necessary to adhere to the system first and advance steadily.


　　According to the announcement, there are more than 100 Chinese and foreign insurance companies in China, and the total assets of the insurance industry are about 3 trillion yuan. In 2007, the balance of insurance funds in China reached 2.7 trillion yuan, which was 10.5 times that of 2000.


　　It is understood that in recent years, emerging insurance organizations such as cooperative insurance institutions and mutual insurance institutions have appeared in the insurance market. This revised draft adds provisions that insurance organizations in the form of mutual system and cooperative system shall be stipulated separately by laws and administrative regulations, and the provisions of this law shall apply to their insurance business activities. Thereby giving legal status to insurance organizations such as mutual system and cooperative system.


　　It is also known that the quality of insurance companies directly relates to the interests of the vast number of policyholders, insured and beneficiaries. In order to improve the quality of insurance companies, in this revision, the insurance law intends to make stricter provisions on the conditions for the establishment of insurance companies, and will clearly state the qualifications of company executives.


　　The revision of insurance law intends to improve the management of insurance intermediaries.


　　Xinhuanet Beijing, August 25th (Reporter Wu Jingjing, Mao Xiaomei) With the development of the insurance market, some new types of insurance intermediary service institutions have emerged in China, such as insurance assessment institutions, which need to be regulated by law. The revised draft of the Insurance Law, which was deliberated at the fourth session of the 11th the National People’s Congress Standing Committee (NPCSC) on 25th, further improved the management of insurance intermediaries.


　　When explaining the revised draft, Wu Dingfu, chairman of the China Insurance Regulatory Commission, said that the provisions of the current insurance law on insurance intermediaries are relatively simple, and there are some gaps in both the subject and the code of conduct.


　　According to reports, the revised draft clarifies that part-time insurance agency is an important form of insurance agency to solve the problem of unclear legal status of part-time insurance agency; It is clear that insurance assessment institutions are insurance intermediaries, and the registered capital, employees and business rules of their business scope are stipulated; Considering the characteristics of individual insurance agents, the revised draft deletes the provisions in the current insurance law that individual insurance agents should obtain insurance agency business licenses, handle industrial and commercial registration, obtain business licenses, deposit deposits or take out professional liability insurance, and only stipulates that individual insurance agents should meet the qualifications stipulated by the State Council insurance regulatory authorities and obtain qualification certificates; The legitimate business activities of individual insurance agents shall not be investigated and dealt with without a license.


　　China revises insurance law to crack down on insurance violations


　　Xinhuanet Beijing, August 25th (Reporter Wu Jingjing, Mao Xiaomei) China’s current insurance law is not perfect in terms of penalties for insurance violations, and there is a lack of penalties for some illegal acts, which makes illegal acts unable to get due sanctions. The revised draft of the Insurance Law, which was reviewed at the fourth session of the 11th the National People’s Congress Standing Committee (NPCSC) on 25th, further clarified the legal responsibilities and cracked down on insurance violations.


　　Wu Dingfu, chairman of the China Insurance Regulatory Commission, said that with the continuous development of the insurance market, on the one hand, it is necessary to provide corresponding penalties for some new insurance violations, and on the other hand, it is necessary to improve the penalties in the existing insurance law.


　　The revised draft of the insurance law has increased the punishment for new illegal acts. New illegal acts mainly include illegal appointment of directors, supervisors and senior managers; Insurance companies and their staff make false claims by means of fictitious contracts to defraud insurance money or other illegitimate interests; Lease, lend, alter or transfer the business license; Insurance companies and their staff engage in related party transactions in violation of regulations, fail to disclose information in accordance with regulations, fabricate and spread false facts, etc., which damage the business reputation of competitors and disrupt the order of the insurance market; Insurance companies and their staff misappropriate and occupy insurance premiums and use insurance intermediaries to engage in illegal acts; Insurance intermediaries conceal important information related to insurance contracts, force, induce or restrict the insured to conclude insurance contracts by improper means, and fail to pay insurance money or take out professional liability insurance in accordance with regulations; Foreign insurance institutions set up representative offices in China without approval to engage in insurance business.


　　The revised draft also increases the accountability of those responsible for illegal acts, and stipulates that insurance companies, insurance asset management companies and insurance intermediaries engage in illegal activities. In addition to punishing illegal institutions, insurance regulators can also take measures such as canceling their qualifications and implementing market bans for their directly responsible directors, supervisors and senior managers. Insurance salesmen, personal agents and employees of insurance intermediaries who violate the law can be warned, fined, their qualification certificates revoked and banned from the market.


　　In view of the actual situation of various economic sectors investing in the insurance industry, in order to prevent investors from using insurance companies as financing tools, the revised draft draws lessons from the legislation of other countries and regions, and stipulates that if an insurance company’s assets are insufficient to pay off its debts due to its illegal operation, its directors, supervisors, general manager and deputy general manager responsible for deciding the business shall be jointly and severally liable to the company’s creditors.


　　On the basis of the current insurance law, the revised draft increases the restrictions on the administrative behavior of insurance supervisors, and stipulates the corresponding legal responsibilities for the illegal acts of supervisors in approving institutions, approving insurance clauses and rates, conducting on-site inspections and taking compulsory measures.


　　China revises insurance law and strengthens self-discipline management of insurance industry.


　　Xinhua News Agency, Beijing, August 25th (Reporter Wu Jingjing, Mao Xiaomei) A chapter "Insurance Industry Association" was added to the revised draft of the Insurance Law, which was deliberated at the fourth session of the 11th the National People’s Congress Standing Committee (NPCSC) on August 25th, and the legal status and main responsibilities of insurance industry associations were stipulated.


　　"In order to promote the transformation of government management functions, improve insurance supervision methods and make effective use of supervision resources, we should give full play to the role of insurance industry associations as a self-regulatory organization." Wu Dingfu, chairman of China Insurance Regulatory Commission, said. The revised draft stipulates that the insurance industry association is a self-regulatory organization of the insurance industry and a social group legal person. An insurance company shall join an insurance industry association. Insurance agents, insurance brokers and insurance assessment institutions may join insurance industry associations.


　　The revised draft also stipulates the responsibilities that insurance industry associations should perform, including safeguarding the legitimate rights and interests of members in accordance with the law and reflecting the suggestions and requirements of members to insurance supervision and management institutions; To mediate disputes between members, members and policyholders, insured and beneficiaries; Members who violate the articles of association of the insurance industry association and the self-discipline rules of the industry shall be given disciplinary sanctions in accordance with the regulations. (End)


　　The amendment of insurance law intends to improve the market exit mechanism of insurance companies


　　Xinhuanet Beijing, August 25th (Reporter Wu Jingjing, Mao Xiaomei) The revised draft of the Insurance Law, which was deliberated at the fourth session of the 11th the National People’s Congress Standing Committee (NPCSC) on the 25th, further improved the market withdrawal mechanism of insurance companies.


　　The current insurance law has made some provisions on the cancellation and bankruptcy of insurance companies. In order to maintain the order of the insurance market and public interests, the revised draft, on the basis of the existing provisions, adds provisions that insurance companies have illegal operations, poor management or solvency lower than the standards set by the State Council insurance regulatory agencies. If the insurance company is not revoked, it will seriously endanger the order of the insurance market and damage the public interests. The insurance regulatory agency of the State Council will revoke it and organize a liquidation team in time to conduct liquidation according to law.


　　According to the relevant provisions of the Enterprise Bankruptcy Law, the revised draft also provides for special matters concerning the bankruptcy of insurance companies, mainly including: stipulating that the State Council insurance regulatory agencies can apply to the people’s court for reorganization or bankruptcy liquidation of insurance companies; The order of debt settlement in bankruptcy liquidation of insurance companies is further clarified.

Editor: Meng Xu

In 2018, the total number of passenger cars in Beijing will be reduced to 100,000, and the proportion will be tilted towards individuals.

　　On December 15th, the Beijing Municipal Commission of Communications released the total number and allocation ratio of passenger cars in Beijing in 2018, and announced the revision of the 2017 edition of the Interim Provisions on the Regulation of the Number of Passenger Cars in Beijing. In 2018, the total number of passenger car indicators decreased from 150,000 to 100,000, of which the new energy indicators remained unchanged at 60,000, and the general indicators were reduced from 90,000 to 40,000. Although the index has been reduced, it will be greatly tilted towards individuals, and the number of individual ordinary car indexes will become 38 thousand. The number of new energy indicators will exceed that of ordinary vehicles for the first time. According to the relevant person in charge of the Municipal Transportation Commission, Beijing must control the total development of passenger cars due to environmental and road resource constraints. While controlling the number of passenger cars, Beijing will make great efforts to accelerate the construction and development of rail transit and continuously increase the supply of public transport infrastructure.

　　issue

　　Individual ordinary car index reduced to 38,000

　　Beijing Youth Daily reporter learned from Beijing Municipal Transportation Commission that on December 15, 2017, the newly revised Interim Provisions on the Regulation of the Number of Passenger Cars in Beijing and the Notice on the Total Quantity and Allocation Ratio of Passenger Cars in 2018 were announced to the public on the website of Beijing Passenger Car Index Regulation Management Information System, and the Interim Provisions will be implemented on January 15, 2018.

　　According to the relevant person in charge of the Municipal Transportation Commission, in order to implement the goal of "the number of motor vehicles in the city should be controlled within 6.3 million by the end of 2020" in the Traffic Development and Construction Plan of Beijing during the Thirteenth Five-Year Plan and the Work Plan for the Implementation of the Beijing Urban Master Plan (2017-2020), the Notice clarifies that the total number of passenger car allocation indicators will be reduced from 150,000 to 100,000 in 2018.

　　In 2018, the quotas of general indicators and new energy indicators will be further tilted towards individuals, and the proportion of individual general indicators will increase from 92% in 2017 to 95%, which is 38,000.

　　The index of new energy vehicles exceeds that of ordinary vehicles for the first time.

　　In 2015, 2016 and 2017, the total number of new passenger cars in Beijing each year was 150,000. Among them, the number of new energy indicators increased from 30,000 in 2015 to 60,000 in 2016 and 2017. With the increase in the proportion of new energy vehicles, the number of indicators of ordinary vehicles has decreased, and the difficulty of winning the lottery has hit record highs.

　　In 2018, the new energy indicators will remain unchanged at 60,000, the proportion of individual new energy indicators will increase from 85% to 90% (54,000), and the unit indicators and operating indicators will each account for 5% of the annual quota (3,000 each). This is also the first time that the personal new energy index has exceeded the personal ordinary car index.

　　The reporter of Beiqing Daily learned that according to the detailed rules for the implementation of the Interim Provisions on the Regulation of the Number of Passenger Cars in Beijing (revised in 2013), the city has implemented a system of quantity regulation and quota management for passenger cars. The specific growth quantity and regulation ratio are determined by the demand situation of passenger cars, road traffic and environmental carrying capacity. In fact, according to the data of the Municipal Traffic Management Bureau, as of November 2017, the number of motor vehicles in the city has reached 5.9 million, which is close to the carrying capacity of traffic and environment.

　　The allocation ratio is constantly tilting towards individuals.

　　At present, the index applications of individuals and units in Beijing are all in the same pool, but in the past two years, the proportion is constantly tilting towards individuals.

　　In 2015, the quota of passenger cars in Beijing was 150,000, including 120,000 ordinary indicators and 30,000 demonstration and application new energy indicators. Among them, the individual quota accounts for 88% of the annual quota, the unit quota accounts for 6% of the annual quota, and the operating passenger car quota accounts for 6% of the annual quota. In 2016, the quota of individual indicators accounted for 90% of the annual quota. In 2017, the quota of individual indicators accounted for 92% of the annual quota. In 2018, the data increased to 95%.

　　The validity of indicators is automatically extended to one year.

　　At present, the index is valid for 6 months. However, due to various reasons such as the purchase of new cars and the late signing of the index, many citizens report that the index is too short. In the future, the validity period of the index will be adjusted to one year to facilitate the citizens to go through the formalities. According to reports, the extension of the validity period is not only for the newly added configuration indicators, but also for the time limit for applying for updating indicators after the vehicle is transferred out or scrapped and the time limit for buying a car after obtaining the updated indicators. Citizens have a year to make a choice after they get the ordinary index or wait for the new energy index. Citizens who update their vehicles have two years to choose from eliminating the previous car to buying a new one. Indicators that have been held before the official implementation of the new interim provisions and are still within the validity period will be automatically extended.

　　Four types of situations will not update the indicators.

　　The reporter of Beiqing Daily learned that in this new policy, there are four situations in which the indicators are not updated: (1) Reaching the service life (among them, small and micro non-operating passenger cars have no service life limit. The service life of small, micro, medium and large rental passenger cars is 8 years, 10 years and 12 years respectively, and the rental passenger car is 15 years); (2) After repair and adjustment, it still does not meet the relevant requirements of the national standards for motor vehicle safety technology for in-use vehicles; (3) After being repaired and adjusted or adopting control technology, the pollutants or noise discharged into the atmosphere still do not meet the relevant requirements of the national standards for in-use vehicles; (4) Failing to obtain the motor vehicle inspection conformity mark within three consecutive motor vehicle inspection cycles after the expiration of the inspection validity period.

　　For ordinary citizens, if they fail to obtain the motor vehicle inspection conformity mark within three consecutive motor vehicle inspection cycles after the expiration of the inspection validity period, the indicators will not be updated.

　　interpret

　　Why is the index of ordinary cars reduced?

　　Since Beijing implemented the policy of controlling the number of passenger cars in 2011, the number of passenger cars has increased reasonably and orderly. From January 2011 to the end of November 2017, the number of passenger cars in this city increased by 954,000, and the annual growth rate dropped from 24.3% in 2010 to 2.4%. In the same period, the resident population increased from 19.612 million in 2010 to 22 million in 2017, with an estimated increase of 2.38 million. The traffic index dropped from 6.1 in 2010 to about 5.6 in 2017, and the congestion situation not only did not deteriorate, but also improved.

　　At the same time, the index control policy has also promoted the demonstration application of new energy vehicles and promoted the optimization of vehicle energy structure in this city. At present, the city has registered more than 137,800 pure electric passenger cars, ranking first in the country.

　　Judging from the current development situation, although the disorderly and rapid growth of passenger cars has been effectively curbed, the continuous growth of motor vehicles still poses great pressure on air quality, traffic operation and urban space.

　　On the atmospheric side, with the pollution control of industrial production, coal burning and dust in this city, the proportion of motor vehicle emission pollution in local pollution sources is prominent, becoming the biggest "contributor" of PM2.5

　　In terms of traffic operation, from 2010 to 2016, the city’s total highway mileage increased by 0.66% and urban roads by 0.17% annually, while motor vehicles increased by 3.23% annually during the same period, which was much higher than the growth rate of road construction mileage. The carrying capacity of urban road network is still fragile.

　　In terms of urban space, the contradiction between supply and demand between the number of motor vehicles and parking spaces is still outstanding. Judging from the distribution of passenger cars, the number of cars between the Second and Third Ring Roads is about 5,500/km2, which is obviously higher than that between the Fifth and Sixth Ring Roads, which is about 700/km2, showing a high-density gathering trend, while the parking contradiction between the old residential area in the central city and the bungalow hutong area is the most prominent, and it is the most difficult to tap the potential. Therefore, it is necessary to take the bearing capacity as a binding condition to further slow down the growth of motor vehicles.

　　answer questions

　　How to calculate the validity period of indicators?

　　Q: Which indicators can be extended?

　　A: In August, October and December, 2017, the passenger car configuration indicators obtained by lottery and waiting were extended for 6 months on the original basis.

　　If you haven’t applied for updating the index after selling or scrapping the Beijing brand minibus from July 15, 2017 to January 14, 2018, the time limit for applying for updating the index will also be extended by six months on the original basis.

　　After the vehicle was stolen and robbed, if the public security organ filed the case after July 15, 2016 (inclusive), and the case has not been recovered for 12 months, and the stolen and robbed state has been registered in the vehicle management system of the public security organ, you can apply for the passenger car index within the next 12 months.

　　Q: How to calculate the annual inspection cycle of passenger cars?

　　A: Article 16 of the Regulations for the Implementation of the Road Traffic Safety Law of the People’s Republic of China stipulates the inspection period of various motor vehicles, among which the passenger cars are inspected once a year within 5 years; More than 5 years, once every 6 months. Small and micro non-operating passenger cars shall be inspected once every 2 years within 6 years; More than 6 years, the inspection once a year; More than 15 years, once every 6 months.

　　Q: Is it impossible to apply for updating indicators as long as the time limit for compulsory scrapping is reached?

　　Answer: For vehicles that have reached the national compulsory scrapping standards for motor vehicles, the Public Security Traffic Management Bureau of this Municipality will regularly issue the Announcement on the Invalidation of the License Plate, Driving License and Registration Certificate of Motor Vehicles that have not been deregistered according to the national compulsory scrapping standards through official website. Any vehicle whose deregistration date is later than the announcement date will no longer accept the application for updating the indicators. Passenger cars whose motor vehicle license plates have been declared invalid before January 15, 2018 will no longer accept applications for updating indicators if they cancel their registration after January 15, 2018.

　　be relevant

　　Beijing opens next year.

　　Three sections of subway line

　　In recent years, while controlling the number of passenger cars, the city has made great efforts to speed up the construction and development of rail transit, constantly increasing the supply of public transport infrastructure, and new lines have been opened and put into operation every year.

　　Three new lines will be opened at the end of this year, namely Yanfang Line, Xijiao Line and S1 Line. After the opening of the three new lines, there will be 22 subway lines in this city, and the operating mileage will increase from 574 kilometers to 608.2 kilometers.

　　In 2018, the city plans to open three more lines, including the third phase of Line 8 (Zhushikou Station to Wufutang Station, Nanluoguxiang Station to National Art Museum of China Station), the fourth phase of Line 8, and the west extension of Line 6 (Haidian Wuluju Station to Pingguoyuan South Road Station). The operating mileage has increased to more than 630 kilometers.

　　At the same time, Beijing will accelerate the construction of more than 300 kilometers of rail transit lines, such as the new airport line, pinggu line, the east extension of Line 7, Line 12, the remaining section of Line 14, Line 16, Line 17, Line 19, CBD line and Yanfang line branch. It is planned to realize 900 kilometers of rail transit by 2020, and the coverage rate of 750 meters in the central city subway station will reach 90%.

　　In addition, we will continue to optimize the ground bus network, build a comprehensive and convenient transfer system, grasp the new changes in the rapid development of the subway network and share the economy, and make the green travel environment of "subway+ground bus, bike-sharing and walking" better and better.

　　extend

　　Regulation policy on the number of passenger cars

　　Optimization for many times in six years.

　　The reporter of Beiqing Daily learned from the passenger car indicator office that since the implementation of the passenger car quantity control policy in 2011, the indicator office has actively listened to the opinions and suggestions of the Municipal People’s Congress, CPPCC members and the general public, and has revised, supplemented and improved the implementation rules several times.

　　On December 27, 2011, the implementation rules were revised for the first time. The revised contents mainly include: First, it is clear that the expired unused personal passenger car indicators will be re-incorporated into the lottery pool configuration; The second is to stipulate the validity period of personal configuration index application and streamline the number of lottery pool codes; The third is to allow newly registered enterprises to participate in the lottery to facilitate the development of enterprises; The fourth is to clearly update the application time limit of indicators and strengthen the management of indicators.

　　On November 27, 2013, the implementation rules were revised again. The revised contents mainly include: setting the winning rate of individual lottery ladder to alleviate the pressure of "long-term failure"; Increase the index configuration of new energy passenger cars; Solve the problem of applying for indicators after the passenger car is stolen; Cooperate with the municipal court to implement the judicial auction of Beijing brand passenger cars with index transfer, and solve the problem of difficult implementation.

　　On January 22, 2016, the advanced rules for the winning rate of the lottery ladder of ordinary passenger cars were further adjusted, and the care for applicants who have been shaken for a long time was increased. Issued the "Notice on Demonstrating and Applying the Relevant Rules for Waiting for the Allocation of New Energy Passenger Cars", and cancelled the lottery of new energy passenger cars.

　　This time, in combination with the revision of the Interim Provisions on the Regulation of the Number of Passenger Cars in Beijing, the Detailed Rules for the Implementation of the Interim Provisions on the Regulation of the Number of Passenger Cars in Beijing have been revised, which will also be announced in the near future and will be implemented simultaneously on January 15, 2018.

　　This edition/reporter Liu Wei

　　Cartography/Reporter Wang Zixuan for the picture/vision china

　　expert

　　The number of motor vehicles in megacities in the world has gradually increased by zero.

　　Xu Kangming, a transportation expert, said in an interview with the reporter of Beiqing Daily that the number of motor vehicles in megacities in the world has gradually increased by zero or even negative growth. For example, the number of motor vehicles in some European cities and Singapore has been zero growth. It can be seen from the new index management method that Beijing has adopted a rational overall policy for motor vehicle development.

　　Xu Kangming believes that the motor vehicle development policy may go through four stages, from the past control to the current reduction of the total increase, and will gradually develop to zero growth or even negative growth in the future.

Promote the stable and healthy development of the real estate market (Rui Finance)

A few days ago, the relocated residents in Nantingfang Community, Changqing Street, Baohe District, Hefei City, Anhui Province, welcomed the resettlement houses, and they will start a new life in a modern community with complete facilities. According to reports, the community can accommodate 2533 sets of houses this time. Xinhua News Agency reporter Liu Junxi photo
Reasonably adjust the scope of purchase restriction, increase the amount of provident fund loans, optimize the use of existing real estate land, and revitalize the existing parking spaces of development projects … Since the beginning of this year, many places across the country have continuously optimized and adjusted the property market regulation policies to further support the rigid and improved housing demand and promote the stable and healthy development of the real estate market.
With the long-term mechanism of real estate taking root and the stable operation of the real estate market, the positioning of "the house is for living, not for speculation" has further become a social consensus.
Downward trend needs attention.
The real estate industry is large in scale, long in chain and wide in scope, and plays a decisive role in the national economy. Since the beginning of this year, the national real estate market has been generally stable, but the downward trend also needs great attention. Statistics from the National Bureau of Statistics show that from January to April this year, the national fixed asset investment (excluding farmers) was 15,354.4 billion yuan, up 6.8% year-on-year. Among them, investment in real estate development decreased by 2.7%. From January to April, the sales area of commercial housing nationwide was 397.68 million square meters, down 20.9% year-on-year.
Sheng Guoqing, chief statistician of the Urban Department of the National Bureau of Statistics, said that in April, among 70 large and medium-sized cities, the number of cities where the sales price of commercial housing decreased increased, and the sales price of commercial housing in first, second and third tier cities showed a downward trend on the whole and continued to decline year-on-year.
From the ring comparison, the sales price of commercial housing in first-tier cities increased slightly, while that in second-and third-tier cities decreased. In April, the sales price of new commercial housing in first-tier cities rose by 0.2% month-on-month, and the growth rate dropped by 0.1 percentage point from last month. The sales price of second-hand houses rose by 0.4% month-on-month, the same as last month. From a year-on-year perspective, the year-on-year increase or decrease in the sales price of commercial housing in first, second and third tier cities dropped or expanded. In April, among 70 large and medium-sized cities, the sales prices of newly-built commercial housing and second-hand housing decreased year-on-year, respectively, in 39 and 56 cities, increasing by 10 and 9 respectively from last month.
Relevant experts believe that from the year-on-year changes in house prices, the number of cities with falling house prices has an increasing trend, and the confidence of buyers has yet to be restored.
Since April, the property market regulation policies have been released in many places. Among them are Zhengzhou, Lanzhou, Fuzhou, Changsha, Nanjing, Suzhou and other large and medium-sized cities, as well as many third-and fourth-tier cities. Its control measures mainly focus on supporting rigid and improved housing demand and boosting housing consumption.
Liu Lin, a researcher at China Macroeconomic Research Institute, believes that while keeping the risk bottom line, all localities should make appropriate adjustments to the previous contractive control policies to better support the first set of rigid housing demand and reasonable improvement demand, and encourage new citizens, young people and other groups to make housing consumption.
Actively encourage self-occupation demand
Facing the new situation and new challenges, the central and local departments concerned have taken a series of concrete measures to support the first set of rigid demand for house purchase, reasonable demand for improvement, and demand for rental housing.
On May 15th, the People’s Bank of China and China Banking and Insurance Regulatory Commission issued relevant notices to adjust the differentiated housing credit policy. Among them, for households who purchase ordinary self-occupied housing by loans, the lower limit of the interest rate of the first set of commercial personal housing loans is adjusted to not less than the quoted interest rate of the loan market for the corresponding period minus 20 basis points. On May 20th, the People’s Bank of China authorized the National Inter-bank Funding Center to announce the quoted interest rate (LPR) of loans over five years, which was 4.45%, a decrease of 0.15% compared with the previous one, and it has been lowered again since January 20th this year.
In Shandong, Jinan Housing Provident Fund Center issued a policy. Since May 24, the standard for identifying the first suite has been adjusted from "the family of registered employees in this city has no housing and no housing loans (including provident fund loans and commercial loans)" to "the family of registered employees in this city has no housing in this city". At the same time, the down payment ratio of the first home loan for non-registered families in this city was adjusted from 60% to 30%.
In Jiangsu and Lianyungang, the latest measures were introduced to further optimize the payment mode of bid bond for operating land. On the basis of strictly implementing the supervision system of pre-sale funds of commercial housing, we will explore ways to guarantee and release a certain amount of funds for the construction and operation of real estate projects.
"Judging from the situation in most cities, the lower limit of the first home loan interest rate in May decreased by 35 basis points compared with April, and the lower limit of the second home loan interest rate decreased by 15 basis points. This change, superimposed on the optimization measures taken by various places due to urban policies, will help reduce the cost of buyers and promote the release of just-needed and improved housing demand. " RealData market analyst Liu Lijie said.
The bottom line of "housing and not speculating" is solid.
According to the data of the Ministry of Housing and Urban-Rural Development, China is still in the stage of rapid urbanization, with more than 11 million newly employed people in cities and towns every year, which brings a lot of new housing demand. At the same time, a large number of old houses built before 2000 are small in area, poor in quality and incomplete in supporting facilities, and the demand for residents to improve their living conditions is relatively strong. All these provide favorable conditions for the real estate market to stick to the principle of stability and achieve healthy development.
Zhao Xiuchi, a researcher at the Institute of Economic and Social Development of Megacities of Capital University of Economics and Business, pointed out in an interview with this reporter that the recent fine-tuning and optimization of the credit environment and real estate regulation and control policies is due to the city’s policy of supporting rigid and improved housing demand, which is a necessary move to keep the economy running in a reasonable range, and reflects the positioning that "houses are used for living, not for speculation".
"The optimization of real estate regulation and control policies should continue to adhere to the word’ stable’ and firmly hold the bottom line of’ housing and not speculating’ while meeting reasonable needs." Zhao Xiuchi believes that we should further improve the efficiency of land and housing use and accelerate the development of the housing rental market with the guidance of meeting reasonable and self-occupied housing demand and the balance between occupation and housing as the starting point.
In the view of Feng Jun, president of China Real Estate Association, local governments can’t break away from the orientation and direction of "housing and not speculating", and they can’t use real estate as a tool and means to stimulate the economy in the short term. In the future, the key is to continue to implement a long-term real estate mechanism, maintain the continuity and stability of regulatory policies, and enhance accuracy and coordination.
Reporting/feedback

In the first half of the year, credit bonds defaulted by nearly 100 billion yuan, ranking first in the real estate industry.

　　The default situation of credit bonds continues unabated. According to Wind statistics, as of June 30, the default scale of credit bonds this year has reached 98.573 billion yuan, far exceeding the level of the same period last year. Among them, the overdue principal of bonds is 91.338 billion yuan and the overdue interest is 7.235 billion yuan.

　　Insiders interviewed by reporters said that the deterioration of default data in the first half of this year was mainly due to the risk exposure of several major entities such as HNA Group and Huaxia Happiness, which can be said to be the result of the accumulation of default risks in the previous period. Looking forward to the second half of the year, the default situation may continue, and the credit differentiation will further intensify.

　　At the same time, with the gradual normalization of bond market default, the redemption rate of bonds after default has also decreased year by year. Although private enterprises are still the main force of default, the scale of default of state-owned enterprises has increased rapidly. According to statistics, in the first half of 2021, the balance of default bonds of local state-owned enterprises totaled 36.411 billion yuan, accounting for 79% of the default amount of local state-owned enterprises’ bonds last year, which continued to impact the "belief in state-owned enterprises". Some analysts said that there have been two major trends in the default of credit bonds. First, state-owned enterprises with weak qualifications will become a breakthrough to break the just exchange; Second, the tail real estate company will accelerate the market clearing.

　　The scale of credit debt default has expanded.

　　Since the beginning of the year, credit bond defaults have occurred frequently. According to statistics, there were 13 new issuers who defaulted for the first time in the first half of the year, including 7 issuers in the first quarter and 6 issuers in the second quarter. However, this figure is down from 19 in the first half of 2020.

　　According to the analysis of CICC’s collection team, in contrast, the cumulative number of issuers who defaulted in the first half of this year and in the two quarters showed a downward trend year-on-year. The decrease in the number of issuers who defaulted was related to the greater efforts of supervision and local governments to maintain stability, and repeatedly stated that they had zero tolerance for malicious "evasion of debts", actively guaranteed bond payment and restored market confidence.

　　Although the number of new defaulting subjects has decreased, the scale of default has not decreased. According to the reporter’s statistics, as of June 30th, the number of defaults on credit bonds reached 120 this year, with a scale of 98.573 billion yuan, compared with 94 and 72.995 billion yuan in the same period last year. Among them, the overdue principal of bonds this year is 91.338 billion yuan, and the overdue interest is 7.235 billion yuan.

　　"This is mainly due to the risk exposure of several major defaulting entities, such as HNA Group and Huaxia Happiness, which is the result of the accumulation of risks in the early stage." A director of fixed income of a fund company told reporters. For example, in the first half of the year, a number of issuers of Hainan Airlines were ruled by the court to accept bankruptcy and reorganization applications, and all the surviving bonds were deemed to be due to breach of contract, which in turn pushed up the number and amount of defaulted bonds in the first half of the year.

　　Ming Ming, deputy director of CITIC Securities Research Institute, also told CBN: "The scale of default under the conventional caliber includes the subjects that have defaulted over the years. If their surviving bonds expire in the first half of 2021, they will also be included in this year’s default, resulting in large data. In particular, the defaults in the first half of this year included large bond entities such as Kangmei, Huaxia Happiness, Huaxin and Taihe, which led to a higher amount than the same period last year. "

　　Mingming also said that considering the risk of default in the first half of this year, it is usually compared with the first default of enterprises. In the first half of this year, the new default was 8.65 billion yuan, which was lower than 13.38 billion yuan in the same period last year.

　　Real estate default accounts for a large proportion

　　From the perspective of industry distribution, in the first half of this year, bond defaults were mainly concentrated in comprehensive, real estate, air transport, construction and engineering industries. Among them, the default scale of the real estate industry was 19.192 billion yuan, ranking first. Some insiders predict that the market-oriented clearing will be accelerated in the future under the background that the real estate regulation is not relaxed.

　　CICC’s collection team believes that this is because real estate development enterprises have the problems of large cash inflow and outflow, frequent policy regulation and tight refinancing as a whole, and naturally have the characteristics of high credit risk.

　　In fact, since 2018, with the marginal tightening of real estate financing and the arrival of the peak of real estate corporate bonds maturity, the default of real estate bonds has gradually been exposed. Especially since May last year, local regulatory policies have been tightened again, and the continuous financing shortage has stretched the capital chain of some real estate industries.

　　After the default of three real estate enterprises in the first half of this year, the institutions intensified their risk investigation on the real estate sector, and their attitudes tended to be cautious. "Some small and medium-sized housing enterprises have relatively high debt ratios, and the financing channels faced by the industry have narrowed, so they are prone to default." Macro analyst Zhou Maohua told reporters.

　　It is also worth mentioning that on July 12, Sichuan 100 billion-level housing enterprise Blu-ray Development Co., Ltd. also defaulted. The announcement shows that as of the end of the due date, the issuer failed to raise the full repayment funds as agreed, and "19 Blu-ray MTN001" failed to repay the principal and interest in full on schedule, which constituted a material breach of contract.

　　It is reported that the issuance scale of "19 Blu-ray MTN001" is 900 million yuan, with a term of 2 years. The interest rate of the bonds in this interest period is 7.5%, and the amount of principal and interest payable is 967.5 million yuan. The redemption date is July 11, 2021 (the actual redemption date is July 12, 2021).

　　Looking forward to the future credit bond market, many people in the industry expressed optimism. The aforementioned fixed income director of the fund company told reporters that it is expected that the credit default situation will continue in the second half of the year. After all, the credit financing environment has not been relaxed, and the policy has been tightening the review of urban investment bonds and real estate bonds. The performance of the credit market will be more differentiated, and the sinking of qualifications will be more cautious.

　　Zhou Maohua said that from the trend, domestic defaults will not rise sharply, mainly because the overall domestic monetary and credit environment remains reasonable and moderate, and accurately supports short-term weaknesses. At the same time, the economy and domestic demand are recovering steadily, the overall profit of enterprises tends to improve, and the market financing function is sound.

　　"We should treat the domestic bond market default rationally. A certain amount of bond default will help to find the market price, force enterprises to operate steadily, reasonably debt, and continuously improve operating efficiency; It also helps the market mechanism to play its role and promote the efficiency of market resource allocation. " Zhou Maohua also mentioned.

　　Decreasing the redemption rate of default bonds

　　As the default of credit bonds tends to be normalized, there is also a phenomenon that the payment ratio of default bonds is also decreasing.

　　According to the statistics of Zhongtai Securities, the proportion of the accumulated principal paid by default bonds to the accumulated balance of default bonds has dropped from 79.37% at the end of 2014 to 6.87% at the end of the first half of 2021; The proportion of fully paid bonds to default bonds decreased from 20% to 7.16%. This means that once the bond defaults, investors will face greater losses.

　　Generally speaking, after the bond defaults, enterprises mainly have five ways to deal with the default, namely litigation arbitration, bankruptcy litigation, self-financing repayment, debt restructuring and collateral disposal/guarantor compensation. In general, self-raised funds, debt restructuring and bankruptcy litigation are three common disposal methods, among which debt restructuring and self-raised funds have shorter redemption period and higher recovery rate than bankruptcy restructuring.

　　In addition, there are differences in default payment of different types of bonds. For example, from the perspective of the nature of enterprises, Zhongtai Securities analyzed that by the end of June 2021, 40 of the 135 private enterprises that had defaulted on bonds had partially or fully paid the defaulted bonds, with a redemption probability of 29.63%; However, local state-owned enterprises and central state-owned enterprises have higher redemption probabilities, which are 38.46% and 36.36% respectively.

　　However, in recent years, with the substantial increase in the default scale of local state-owned enterprises and the successive default of bonds issued by some central enterprise groups, "the redemption ratio of local state-owned enterprises and central enterprises according to the amount of redemption and the number of fully redeemed bonds has been lower than that of private enterprises." Zhou Yue, chief analyst of Zhongtai Securities Solid Revenue, said.

　　Specifically, in the first half of 2021, the cumulative redemption amount of local state-owned enterprises accounted for 5.03% of the bond default scale, compared with 13.95% at the end of 2018; The proportion of central enterprises is 4.20%, and it was 17.26% at the end of 2018. Zhou Yue further believes that at present, there are two tendentious problems in the default of credit bonds. First, weak state-owned enterprises will become a breakthrough to break the just-redeemed; Second, the tail real estate company will accelerate the market clearing.