Text/Zhou Daoxu Director of Financial Security Research Center of Tsinghua University Wudaokou Finance College

Capital market is essentially an information market, and enterprise value is continuously priced in information interaction. When the crisis of public opinion occurs, the sudden change of information environment will trigger the market to re-evaluate the fundamentals of enterprises.

First, the financial transmission mechanism of public opinion shock

The surge in the cost of information verification is the primary transmission channel. When an enterprise is caught in a crisis of public opinion, the market will doubt the authenticity of its information disclosure, and investors need to invest additional resources for due diligence, including consulting financial statements, analyzing industry data, and referring to third-party audit opinions. This extra verification cost will reduce market liquidity and may lead some investors to choose to withdraw from the market because of information asymmetry. At the same time, institutional investors may adjust their investment portfolio to reduce the risk exposure related to the enterprise, thus triggering a further decline in the stock price.

In addition, the intensification of information asymmetry will lead to an increase in the market’s risk premium requirements for enterprises. When faced with information uncertainty, investors often demand higher risk compensation to make up for potential losses. The rise of this risk premium will not only be directly reflected in the decline of the company’s share price, but also affect the financing cost of the company, which will challenge its refinancing ability in the capital market. In extreme cases, enterprises may fall into a liquidity crisis due to the loss of market trust, and even go bankrupt and reorganize.

The dynamic adjustment of credit rating forms the second pressure. In the face of major public opinion crisis, rating agencies usually quickly adjust their credit ratings to reflect the latest market awareness of corporate credit status. However, the adjustment of rating agencies is often characterized by "over-revision", that is, a large downward adjustment in a short period of time to avoid their own reputation risks. This rating adjustment not only affects the debt financing cost of enterprises, but also may trigger a chain reaction in the bond market, leading to sharp fluctuations in bond prices.

The downgrade of credit rating may also trigger the "cross-default" clause in the financial market, that is, some loan or debt agreements of enterprises may stipulate that once the credit rating falls below a certain level, enterprises need to repay debts in advance or provide additional guarantees. This means that enterprises may face sudden cash flow pressure after the public opinion crisis, further aggravating the deterioration of their financial situation. This chain reaction will amplify the market’s concerns about the fundamentals of enterprises, and may even lead enterprises to enter debt restructuring or bankruptcy procedures.

Second, the empirical analysis of typical cases

In April 2020, Luckin Coffee’s self-disclosure of financial fraud caused widespread market panic, which spread to CAR Inc., which belongs to the "Shenzhou Family". Affected by the crisis of investor confidence, CAR Inc.’s share price plummeted by 17.11% on April 8th. The market’s doubts about CAR Inc. focus on the expansion model similar to that of Ruixing, the authenticity of financial data and the joint liability of the major shareholder Lu Zhengyao. At the same time, international rating agencies Standard & Poor’s and Moody’s quickly downgraded CAR Inc.’s credit rating, which further aggravated investors’ panic. This incident shows that in the capital market, the financial transparency and governance structure of enterprises are very important. Once the trust crisis breaks out, it will not only increase the cost of information verification, but also trigger a series of chain reactions such as stock price crash, financing difficulties and credit rating downgrade.

Third, the impact of public opinion risk on different financing channels

1. Bond market

In the bond market, the impact of public opinion risk on credit bonds is particularly significant. For bond investors, the credit status of enterprises is one of the key factors in their decision-making. Negative public opinion events may cause investors to worry about the solvency of enterprises, which in turn will lead to the decline of bond prices and the expansion of credit spreads. For example, after the public opinion of financial fraud or poor management of some enterprises spreads, the credit rating of their bonds may be lowered, which will not only increase the financing cost of enterprises, but also make it more difficult to issue bonds. In addition, public opinion events may also trigger a chain reaction in the bond market, affecting the performance of credit bonds in the whole industry, and even impacting the stability of the bond market.

2. Equity market

In the equity market, public opinion risk will also have a significant impact on the stock price and equity financing cost of enterprises. Investors’ confidence in the enterprise is an important support for the stock price, and negative public opinion may weaken investors’ confidence and lead to a decline in the stock price. At the same time, the cost of equity financing will also rise due to the reassessment of corporate risks by the market. For example, when an enterprise faces public opinion events such as product quality problems or management scandals, investors may demand higher rate of return to compensate for risks, which will directly lead to an increase in the cost of equity financing. In addition, public opinion events may also affect the refinancing ability of enterprises, and may even cause enterprises to lose financing opportunities in the capital market.

3. Bank credit market

Bank credit market is one of the important financing channels for enterprises, and public opinion risk will also have an impact on bank credit. When deciding whether to provide loans to enterprises, banks will comprehensively consider the credit status, operating conditions and market reputation of enterprises. Negative public opinion events may make banks doubt the credit status of enterprises, thus raising the loan interest rate, increasing the collateral requirements or shortening the loan period. For example, when a company has a major negative public opinion, the bank may reassess the loan risk of the company and adopt a more cautious credit policy. This will not only increase the financing cost of enterprises, but also limit the liquidity of enterprises and affect the normal operation of enterprises.

Fourth, the relationship between public opinion risk and corporate governance structure

1. The role of the board of directors

The board of directors of enterprises plays a key role in dealing with the risk of public opinion. An effective board of directors can find and deal with public opinion risks in time and protect the interests and reputation of enterprises. For example, the board of directors can strengthen the supervision of enterprise operation and management by establishing a sound internal supervision mechanism, and discover potential public opinion risk factors in time. In addition, the board of directors can also communicate with investors, the media and the public to convey the positive information of the enterprise and alleviate the impact of the public opinion crisis on the enterprise.

2. Responsibility of management

Management also bears an important responsibility in public opinion risk management. The management needs to report the operating conditions and potential risks of the enterprise to the board of directors in time to ensure that the board of directors can fully understand the public opinion risk of the enterprise. At the same time, the management also needs to formulate and implement effective public opinion management strategies, strengthen the management and control of internal information of enterprises, and prevent the leakage of negative information. In addition, the management also needs to maintain good communication with external stakeholders, respond to market concerns in a timely manner, and maintain the good image of the enterprise. For example, when a public opinion crisis occurs, the management can clarify the truth by releasing accurate information in time, stabilize market expectations, and reduce the impact of public opinion risks on enterprises.

3. The role of internal audit

Internal audit also plays an important role in public opinion risk management. Internal audit can find out the potential risk factors of public opinion through auditing the internal financial and operational activities of the enterprise and report to the management and the board of directors in time. For example, internal audit can audit the authenticity, completeness and accuracy of enterprise financial statements to prevent negative public opinion events such as financial fraud. At the same time, internal audit can also evaluate the effectiveness of the internal control system of enterprises, put forward suggestions for improvement, and enhance the ability of enterprises to resist the risk of public opinion. In addition, internal audit can also participate in the formulation and implementation of enterprise crisis response plans to ensure that enterprises can quickly take effective response measures when public opinion crisis occurs.

V. Interaction between public opinion risk and macroeconomic environment

1. The impact of the economic cycle

The economic cycle has an important influence on the formation and spread of public opinion risk. In the period of economic prosperity, enterprises are in good operating condition, market confidence is high, and the risk of public opinion is relatively low. However, during the economic recession, enterprises are faced with great operating pressure and are prone to various problems, such as financial difficulties and layoffs, which may lead to negative public opinion. At the same time, during the economic recession, some enterprises suffered losses or closed down due to poor management. These negative events caused public concern about the operating conditions of enterprises in the same industry through media reports and network communication, which further aggravated the public opinion risk of the remaining enterprises in the industry. In addition, the change of economic cycle will also affect investors’ risk preference and market confidence, and then affect the impact of public opinion risk on corporate financing costs.

2. The impact of the policy environment

The policy environment also has an important impact on the risk of public opinion. The government’s policy adjustment and regulatory measures may lead to the public opinion risk of enterprises. For example, the strengthening of the government’s environmental protection policy for enterprises may make some highly polluting enterprises face greater operational pressure, which may lead to negative public opinion.

3. The influence of market confidence

Market confidence plays a key role in the interaction between public opinion risk and macroeconomic environment. When the market confidence is insufficient, negative public opinion events may be amplified, which will have a greater impact on the financing cost and market performance of enterprises. For example, in the period of economic instability or market volatility, investors’ confidence in enterprises is relatively fragile, and any negative public opinion may lead to panic selling or financing difficulties. On the contrary, in the case of sufficient market confidence, even if there are some negative public opinions, investors may treat them more rationally and will not easily overreact to enterprises. Therefore, enterprises need to pay close attention to the changes of market confidence and adopt corresponding strategies in public opinion management to reduce the impact of public opinion risk on enterprises.

Sixth, the industry differences of public opinion risk

1. Public opinion sensitivity of different industries

There are significant differences in the sensitivity of different industries to public opinion risk. Some industries are more sensitive to the risk of public opinion because of their business nature and high social concern. For example, in the financial industry, food industry and medical industry, once negative public opinion appears in enterprises in these industries, it may quickly arouse public concern and doubt, which will have a significant impact on the financing cost and market performance of enterprises. Taking the financial industry as an example, the credibility of banks and financial institutions is the key to their survival and development. Any public opinion about financial fraud, poor risk management or poor management may trigger market panic, leading to a sharp drop in stock prices and a sharp rise in financing costs.

2. Transmission mechanism of industry public opinion risk

The risk transmission mechanism of public opinion in different industries is also different. In some industries that are highly dependent on market confidence and public image, such as tourism, hotels and aviation, negative public opinion may directly affect the income and cash flow of enterprises through changes in consumer behavior. For example, when there are security problems or negative public opinions in tourist destinations, consumers may choose other destinations, which will lead to a sharp drop in the income of local tourism enterprises, thus affecting their financing ability and financing cost. In some technology-intensive industries, such as science and technology and Internet industry, public opinion risk may be transmitted by affecting the technological innovation ability and market competitiveness of enterprises. For example, when technology leakage or public opinion of product quality problems occur in technology enterprises, it may lead to their disadvantage in market competition, and then affect their financing environment and financing cost.

VII. Future development trend of public opinion risk

1. The challenge of public opinion risk in the digital age

With the rapid development of digital technology, the spread speed and influence of public opinion risk will be further enhanced. The popularity of social media, network platform and mobile Internet makes information spread more rapidly and widely, and public opinion events can trigger global attention and discussion in a short time. For example, some companies’ inappropriate comments or behaviors posted on social media may quickly trigger public doubts and criticisms, which in turn will affect the financing costs and market performance of enterprises. Therefore, in the digital age, enterprises need to pay more attention to public opinion management, establish a sound public opinion monitoring and early warning mechanism, and timely discover and deal with public opinion risks.

2. The combination of artificial intelligence and public opinion management

The development of artificial intelligence technology provides new means and methods for public opinion management. Through artificial intelligence technology, enterprises can realize real-time monitoring and analysis of massive public opinion data and quickly identify potential public opinion risks. For example, using natural language processing technology, enterprises can analyze the emotion and identify the theme of text data on social media, and find the signs of negative public opinion in time. At the same time, artificial intelligence technology can also help enterprises formulate more accurate public opinion coping strategies, analyze and predict historical public opinion events through machine learning algorithms, and provide decision support for enterprises. For example, some enterprises have developed a public opinion early warning model by using artificial intelligence technology, which can predict the occurrence probability and influence degree of public opinion risk in advance, provide early warning information for enterprises, and help enterprises prepare in advance.

3. Long-term management of public opinion risk

The management of public opinion risk needs to pay attention not only to short-term crisis response, but also to long-term reputation building and risk prevention. Enterprises need to establish a good brand image and social image through continuous reputation management, and enhance public trust and recognition of enterprises. For example, enterprises can enhance their social reputation and public image by actively fulfilling their social responsibilities and strengthening communication and cooperation with stakeholders. At the same time, enterprises need to establish a sound risk management system, incorporate public opinion risk into the overall risk management framework of enterprises, and reduce the impact of public opinion risk on enterprises through institutionalized, standardized and normalized management measures. For example, enterprises can conduct public opinion risk assessment regularly, formulate public opinion management strategies and plans, and establish public opinion response teams and working mechanisms to ensure that they can respond quickly and effectively when public opinion crises occur.

In a word, public opinion risk has become one of the important factors affecting the financing cost of enterprises. Through in-depth analysis of the pricing mechanism, transmission mechanism and management strategy of public opinion risk, enterprises can better cope with public opinion crisis, reduce financing costs and enhance their market competitiveness. In the digital age, the spread speed and influence of public opinion risk will be further enhanced. Enterprises need to pay more attention to public opinion management, establish a sound public opinion early warning and response mechanism, and use new technical means such as artificial intelligence to improve the efficiency and effectiveness of public opinion management. At the same time, enterprises need to pay attention to long-term reputation building and risk prevention, and enhance their anti-risk ability and market competitiveness through continuous efforts. Future research needs to further quantify the elasticity coefficient of public opinion risk in different industries, provide more scientific theoretical support for accurate risk management of enterprises, and promote the scientific, standardized and professional development of public opinion management of enterprises.

This article is published by Tsinghua University Institute of Financial Science and Technology, a columnist of Weiyang.com, and the content belongs to the author’s personal opinion, not the website’s. It is forbidden to reprint it without permission, and offenders will be prosecuted!

Depp joined Hollow Man.

　 　 1905 movie network news Universal Picture’s "Monster Universe" plan is moving forward in an orderly way. A few days ago, the remake of Hollow Man attracted a famous actor to join us. It is reported that Johnny Depp will definitely join the film and play the role of invisible man in the film. In the original film, the invisible man became a killer after being invisible, and there were killers in Depp’s previous screen roles, so this role is more suitable for Depp to interpret.

　 　 The original Hollow Man, filmed in 1933, tells the story of a talented scientist who invented an invisibility reagent that can make people invisible after drinking. Although the effect of the reagent is obvious, unfortunately, the side effects make the scientist become eccentric, and gradually, he becomes an invisible killer. The film depicts the alienation of science and technology to human beings. Although it is exaggerated, the scenes of a large number of invisible people killing people in the film are still chilling. The film has been put on the screen five times. The famous David .S. Goyer once filmed a version in 2007.

The 1933 edition of Invisible Man

　 　 As early as last year, Universal decided to build a "monster universe", hoping to copy the successful experience and bring the famous monsters in the film history such as Dracula, Frankenstein, Frankenstein’s bride, werewolf, invisible man, mummy, and Black Lake Fishman to the big screen. Judging from the progress of the current exposure, the list signed by Universal is big: Tom Cruise just confirmed to join us not long ago, and now Hollow Man has invited Depp to join us. Just from the stunt, this "monster universe" can be described as huge.

　 　 Universal Picture’s Hollow Man will be written by ed solomon, a screenwriter, and the director candidate and release time have not been decided.

On May 17th, during the 2022 World Telecommunication and Information Society Day Conference, China Unicom successfully held the launch conference of innovative achievements of 5G application sailing, and jointly released the 5G private network PLUS scene products "5G accompanying private network" and "5G multi-park private network" with industrial partners, and held the unveiling ceremony of the OPENLAB open laboratory of 5G Internet of Things to promote the 5G application sailing.

Liang Baojun, deputy general manager of China Unicom, said in his speech that China Unicom has implemented the "Sailing Action Plan for 5G Applications (2021-2023)" of ten departments including the Ministry of Industry and Information Technology, focusing on the five main businesses of "big connection, big computing, big data, big application and big security", focusing on "building the cornerstone of 5G computing network, promoting 5G wisdom and gathering 5G ecological partners". 1,500 5G industry virtual private network projects and 5,000 5G commercial industry application projects, covering more than 20 sub-sectors such as steel, mining, education, cultural tourism and medical care, and accelerating the 5G integration innovation from pilot demonstration to scale replication.

Take advantage of the situation and gain insight into the "new track" of industrial digital transformation

Wang Zhiqin, vice president of China Information and Communication Research Institute, pointed out in his speech that the new digital infrastructure represented by 5G is driving the continuous upgrading of production methods, lifestyles and service systems, and promoting the continuous deepening of digital transformation in various fields of economy and society. As a new industry information infrastructure, the virtual private network of 5G industry has evolved from 1.0 to 2.0, realizing the evolution of 5G from ToB general network to customized network of thousands of industries. China Unicom has continuously deepened the private network market and continuously introduced innovative products of 5G private network PLUS scenes, which has achieved fruitful results in the digital transformation of 5G empowerment industry.

In order to continuously accelerate the transformation of 5G applications from "model rooms" to "commercial houses", Wang Zhiqin proposed that the first is to formulate a series of standards for 5G industry private networks and build a cross-border integration landing system; The second is to build a cross-border communication platform and build an application ecological cultivation system for the 5G industry; The third is to establish a "model room" for the application of the 5G industry and establish a publicity and promotion system.

Ingenuity forging, gaining momentum to innovate and develop "new kinetic energy"

The 5G private network has become a "new engine" for the technical integration of 5G vertical industries and communication fields and the high-quality development of 5G applications. At this conference, China Unicom, together with ICT Institute, State Grid Shandong Electric Power Company, Guangdong Bureau of Politics and Statistics, FAW Group, Beijing University of Posts and Telecommunications, Huawei and other industrial partners, released the 5G private network PLUS scene products "5G accompanying private network" and "5G multi-park private network".

Concentrate on the strength and win-win situation. 5G application sails the value of "new blue ocean"

Walking alone is fast, and many people travel far. At this conference, China Unicom, together with partners such as ICT Institute, State Grid Shandong Electric Power Company, Huawei and Zhuhai Gree, jointly released the OPENLAB of the 5G Internet of Things, built a joint innovation technology service platform, and accelerated the consolidation of the application technology foundation of the 5G industry.

5G pilot, sail the future. China Unicom is willing to join hands with all parties in the industry to promote the integration of 5G into thousands of industries and create a new blue ocean of digital economy.

It’ s too embarrassing … Although I knew in advance that BYD was going to engage in intelligent driving of the whole car, I really didn’ t expect that it was close to the standard of the whole department. (PS: products under 100,000, this is the second time to start carrying)

Eye of the God 100-Blue Tail Mark-High Speed Pilot

Eye of God 300-Red Tail-City without Map

See for yourself the specific car payment. Careful students have already seen it. Not this time, it should not be, and it is not a succession relationship with up. Students with insider can comment on it, and then I will ask BYD’s classmates and give you an answer.

Author | Yu Songye Editor | Han Qing

Produced by | Internet circle

Recently, official website, the National Network Information Office, announced the third batch of problematic websites investigated and dealt with according to law in the 2020 "Clear Lang" special action and the special rectification activities of online class platforms. In addition to some live broadcast platforms, Baidu Post Bar is also impressively listed.

The reason why Baidu Post Bar was named this time: "LOLI Bar", "CQY Bar" and other post bars and accounts published pornographic information of underage "Welfare Ji", and sold pornographic selfies, videos and other resources of minors in the name of accompanying play and chatting.

In recent years, Baidu Post Bar has been paid attention to by the public every time, either because of rampant black production or because of malicious speculation, and there are few good things. At the end of September, a malicious phishing post "Brother, our family is rich" in Baidu Post Bar caused widespread discussion on the Internet because of the anxiety of selling bride price, which led a large number of angry netizens to rush into Baidu Post Bar, find the original post and accuse the landlord of being "selfish".

In the end, the incident took a surprising turn, and the posting party saw that the incident was getting worse and worse, so they had to admit that the post was fabricated and apologize to the public, but the poster also stressed that the post could not be deleted because of unknown reasons. The reason why this incident has become a hot topic is that someone has led the way and pointed out that the initiator is "Anti-stress Bar Team 1".

The reason why the incident successfully went out of the circle is unknown, but people can’t help but sigh that Baidu Post Bar, as one of the founders of the Internet community, has fallen to the point where it can only be remembered by maliciously fabricated public opinion events.

At that time, Baidu had money and resources. Even now, it is still a "skinny camel is bigger than a horse". However, Baidu Post Bar has gradually declined and lost its advantage in the community track.

The decline of Baidu Post Bar is not only attributed to the rise of competing products, but also to Baidu’s own strategic problems. Baidu’s attitude towards the light operation and light control of Post Bar makes the high-quality content of Post Bar languish day by day. Baidu Post Bar was born to improve the user’s stickiness, but Baidu seems to have forgotten for a long time that the loss of high-quality content pool will eventually lead to the shrinkage and collapse of the core business-search engine business.

From popularization to minority

Baidu Post Bar, launched in 2003, is a veteran Internet community. The idea of Post Bar came from Baidu CEO Robin Li. At that time, the search engine was considered as a "run-away" product, but Robin Li wanted to break this shackles, so he thought of making an interest community with keywords as the core, so Post Bar was born.

From the end of the 20th century to the first decade of the 21st century, online forums such as Maopu, Tianya and Post Bar jointly created a brilliant BBS era. However, the good times didn’t last long. After 2010, the barbaric growth of the mobile Internet created the rise of Weibo, and the old-fashioned communities that clung to the remnants suffered a huge impact, and Post Bar was no exception, and gradually declined.

The decline of communities such as Post Bar also lies in the high decentralization of these established communities. For example, each netizen’s post can be exposed relatively fairly according to the timeline. However, since its launch, Weibo has continuously highlighted the role of operation, taking the topic of stars and hot events as a gimmick to attract users to join. With the help of stars and hot topics, Weibo has become a new generation of Internet darling.

On the other hand, in the face of the rise of Weibo, Post Bar did not seek mutation, still stuck on its laurels, did not iterate frequently, and never made a big breakthrough in function and operation. A few years later, Zhihu rose. Zhihu, which is problem-oriented, is equivalent to a dimensionality reduction blow to Post Bar, because people will not only search for words but also search for questions on the search engine side, so that when people search for a certain question in Baidu, the more relevant search results are often the questions in Zhihu.

Although Baidu also has its own Q&A product, Baidu knows that it can complement the Post Bar in content, but it is still broken by Zhihu. Zhihu and Weibo are similar, with heavy operation and KOL as the core, so they successfully went out of the circle, further dividing the time and attention of netizens.

In early Zhihu, the invitation system was implemented, and there were many professionals and intellectual groups in various fields, and the atmosphere of seeking knowledge was strong, which laid the community tone of "knowledge first" in Zhihu. Therefore, a large number of outstanding creators were successfully precipitated, forming a differentiated competitive advantage with Baidu Know and Baidu Post Bar.

Post Bar and Baidu know that it is still a straggler, and there is no professional operation and integration of high-quality creator resources, which makes it difficult to form a high-quality content pool and thus it is difficult to retain high-quality users.

In June, 2016, something happened that dealt a further blow to Post Bar, that is, the launch of Weibo Chaohua. Before the introduction of Chaohua in Weibo, Post Bar has always been the main gathering place for fans. Fans can discuss stars in Post Bar, and even support activities can be organized through Post Bar.

Baidu Post Bar, which has a huge groupie user, has no star resources, but there are many stars in Weibo. After Weibo used his own star resources to launch Chaohua, Chaohua quickly became the core base for fans to discuss idols. As a result, a large number of fans have left the post bar.

What makes Baidu Post Bar even more embarrassing is that the bar service team, the core resource of Baidu Post Bar, is also moving closer to Weibo. For example, the most famous post bar "Li Yiba" (Diba) opened its official micro-blog in Weibo.

At present, Diba Guanwei has 1.17 million fans and has played a positive role in many sensitive events. Last August, Diba organized a massive "expedition" activity, which was highly praised by a number of official media. However, the traffic generated by the activities of Diba is not directed to the Post Bar, and it is still Weibo who enjoys the heat bonus.

At present, the hottest posts in Baidu Post Bar are mainly games, animation, digital and sports posts. Games and animation belong to the secondary subculture, while digital and sports are the favorite of straight men, and the diversity of users is relatively poor. Without the resources of stars and high-quality creators, groupies and high-quality users are constantly losing, and the audience of post bars is getting narrower and narrower, gradually sliding from the public to the minority.

Baidu’s mistake

The early post bar can become a phenomenal community product, and Baidu’s traffic blessing is very important. However, the decline of Post Bar is not only due to the rise of competitors, but also due to Baidu’s decision-making mistakes in products and strategies.

Li Yanhong’s continued contempt for the mobile Internet has led Baidu to miss the era of mobile Internet and lose its advantage in the mobile battlefield. When Baidu was aware of it, it had already given away its own traffic.

Baidu had many high-quality post bars in its early years, such as various post bars for postgraduate entrance examination and skill learning, which contained many dry goods and self-study tutorials. However, Baidu, which was weak on the mobile side, lost the favor of users, and people flocked to various learning classes in Weibo. There are also many young people who flock to bilibili to study. With the help of video, a more expressive medium, bilibili has a unique advantage in learning resources.

On the other hand, Baidu’s social strategy has always been to integrate social elements into core products, rather than developing a social product alone. Based on this idea, Baidu Post Bar failed to seize the opportunity of transformation and became a semi-community and semi-social product like Weibo.

In addition to the topic discussion, Baidu Post Bar has another identity, which is the "answer library" of Baidu search engine business. Because Baidu Post Bar is deeply bound to Baidu’s search engine, when users use Baidu to search for keywords, corresponding post bars will appear in the search results, and when users search for multiple keywords or sentences, posts with high relevance will appear in the search results.

Post Bar is born for interest, but for those who have no specific interest and just want to find the answer to the question in Post Bar, Post Bar is still a disposable product with poor user retention rate. However, the identity of "answer library" is not completely without benefits for Post Bar. For people who are not deeply exposed to the Internet, Post Bar located in the front row of Baidu search results is an important way for them to obtain information.

"Last spring, when I was Baidu’s mushroom farming skills, I found a post in the post bar to promote mushroom farming supplies, and the price was a little lower than the market price. Feng Yuqin is a mushroom farmer in the northeast rural area. She shared her experience of being cheated on Baidu Post Bar with "Internet insider". "Later, I added the post owner’s WeChat and bought more than 500 yuan of mushroom farming supplies through WeChat transfer. Later, the courier reminded me that the parcel was collected and the postage was more than 300 yuan. If you refuse, you won’t get your money back, because the seller has blacked out my WeChat, so you have to bite the bullet and pay the postage.

For Baidu Post Bar, there are not a few sinking market users like Feng Yuqin, who make it difficult to distinguish all kinds of information in the post bar. Over time, Baidu Post Bar has become a popular place for some unscrupulous traders.

There is no doubt that the UGC attribute of Post Bar is strong. If it is not re-operated and re-controlled, the community tonality will develop in an uncontrollable direction. Post Bar, however, is a product of Baidu’s "stocking". Post Bar is created by an individual application, and the bar staff has extremely high permission to post it. Baidu’s official operational role has been greatly weakened.

Baidu Post Bar’s official limited regulation of Post Bar has also been criticized as "three views are touching". In the emotional column of Baidu Post Bar, there is a classification of "beauty". Under this category, there are many post bars that cater to the preferences of diaosi groups, such as "black silk bar", "beautiful legs bar", "stunner bar", "connotation map bar" and "student girl bar", and these post bars are undoubtedly hotbeds for black production.

The recent exposure of "LOLI Bar", "CQY Bar" and other post bars selling underage "Welfare Ji" pornographic resources is the tip of the iceberg.

The prevalence of black products also shows that users of Post Bar have great value, but Baidu is "lazy" and has not explored a diversified profit model. For a long time, it has been realized by advertising, membership and selling Post Bar. At the beginning of 2016, the "hemophilia bar" was sold, which once caused Baidu to fall into a major public opinion crisis.

Due to the obvious community attribute, Post Bar is the most dynamic and advantageous product in Baidu’s own content pool, but now it has become Baidu’s "time bomb", and negative news will be exposed every one or two years, hurting Baidu’s vitality. It can be predicted that Baidu’s search business will become increasingly depressed if all kinds of ills of Post Bar are not removed.

Baidu urgently needs high-quality content pool.

As a search engine, Baidu’s nourishment includes its own content and external content, and building its own high-quality content pool is the key to enhance its competitiveness. Around the search engine, Baidu has developed a series of content products to expand Baidu’s content pool, including Baidu Post Bar, Baidu Know, Baidu Experience, Baidu Library, Baidu Encyclopedia and Baijiahao.

Baidu knows that the status quo of Baidu’s experience, like a post bar, has been largely replaced by Zhihu, a professional creator. After cracking down on piracy in China, Baidu’s library will no longer be brilliant. Baidu’s expectation of revitalizing high-quality content is pinned on Baijiahao, the benchmark WeChat WeChat official account.

However, the overall content quality of Baijiahao has been difficult to compete with WeChat WeChat official account. On the one hand, Baijiahao is different from WeChat WeChat official account’s "Hundred Flowers Bloom". Baijiahao is more inclined to recommend short information, and the long and in-depth content is not the main support object of Baijiahao, which hinders the development of high-quality content in Baijiahao to some extent; On the other hand, Baidu has a large user base and a high proportion of sinking users. Due to the influence of recommended algorithms, it is inevitable that low-quality content will prevail; Moreover, Baidu does not have a strong application ecology, which leads to the poor liquidity of Baijiahao, so few high-quality creators regard Baijiahao as the main position of content creation.

Baidu has not made efforts on specialized high-quality content, but this force target is Baidu Encyclopedia. Baidu Encyclopedia started the operation of high-quality content matrix around 2014, and derived content sections such as featured encyclopedia, second encyclopedia and V encyclopedia, and introduced authoritative creators in various fields to output high-quality content. However, the entrance of these high-quality content is deeply hidden and difficult to be found and used by users.

Encyclopedia of science under the classification of characteristic encyclopedias

Baidu’s planning mistakes in the high-quality content pool have caused the loss of users, the decline of word of mouth and the shrinking of core search business. StatCounter statistics show that in 2018, Baidu’s share in the domestic search engine market was 70.3%, and by 2019, this figure fell to 67.09%. The market share of sogou search and Shenma Search is rising steadily.

Sogou, backed by Tencent, launched the WeChat channel in 2014, which opened a huge pool of high-quality content, and launched the Zhihu channel in 2015, which means that sogou search has captured another city in the pool of high-quality content. Users who are increasingly eager for high-quality content are gradually migrating to sogou.

In addition to sogou, a strong rival, all mobile rivals are also eating into Baidu’s search business. The Shenma search created by UC and Ali has thrived under the protection of UC browser; Wechat and today’s headlines also started their own search business, feeding the growth of mobile search business with the application matrix of their own camp as nutrients.

Giants have built their own search businesses, and their confidence comes from their own layout in various content tracks. Wechat Search contains WeChat WeChat official account, video number, applet, Tencent video, WeChat reading, QQ music, JD.COM Mall and other channels, which is enough to support the basic disk of WeChat search; Headline search also integrates the resources of content products such as headline number, micro-headline, Tik Tok, headline question and answer, and has strong strength.

In contrast, Baidu’s content is short-lived. Baidu, which is centered on search engines, does not have a fist-level content product. When competitors are mainly based on their own content pools and supplemented by external content pools, Baidu products represented by Post Bar are gradually declining.

In the face of all kinds of big moves by competitors, such as holding a strong group or integrating the application matrix, if Baidu can’t make great progress in high-quality content, it will eventually lose the throne of the first search engine. If the search engine business loses its advantage, it will not be far from the total collapse of Baidu Empire.

(Feng Yuqin is a pseudonym in the text)

　　2016 is an extraordinary year. Adjusting the structure, promoting reform, and transforming government functions, every step must be determined to swim against the current, and to retreat if you don’t advance.

　　As the prime minister of a big country, how did Li Keqiang spend the past year?

　　This year, he continued to twist the "bull nose" of the reform of "simplifying administration and decentralizing power" to create a clear growth environment for enterprises and people; Promote "mass entrepreneurship and innovation" and make entrepreneurial innovation become a common practice throughout the country; Promote "Internet+government services", so that data can run more and people can run less errands.

　　This year, the "strong rhythm", which is famous for its high efficiency, was staged many times overseas, including four countries in Asia and Europe, the Americas, Laos and Mongolia … … In the rush, he spared no effort to promote international capacity cooperation, and in the face of the downward pressure of the global economy, he realized the complementary advantages and common development of both sides and parties.

　　On the occasion of the New Year, the the State Council client selected 35 photos to freeze the 35 moments of the Prime Minister’s busy work this year. In these moments, it is his figure of being devoted to the country and the people.

　　Prime Minister’s 2016, share with you!

　　On January 4th, Premier Li Keqiang visited Xiaobeiguan shantytown in Taiyuan. He said to the residents here: "I grew up in a shanty town myself and I know your hardships." There are 830 households in this area, only one faucet and one public toilet, and there is no heating and sewer. When leaving, Li Keqiang said to the residents: We must let you live in a new building as soon as possible!

　　On January 5th, Li Keqiang came to Guandi Mine of Shanxi Coking Coal Group and met the miners who had just come out of the well before going down. Among the miners with dark faces, the Prime Minister held their hands tightly and said, "You have been working in the dark underground all the year round, but you have illuminated others. Some people say you are coal sunspots, and I say you are coal Liangzi. Coal workers are not only the backbone of Shanxi, but also the backbone of the country. "

　　On January 25th, Li Keqiang, Premier of the State Council of the People’s Republic of China hosted a forum in Beijing to listen to the opinions and suggestions of the leaders of the central committees of democratic parties, the All-China Federation of Industry and Commerce and representatives of personages without party affiliation on the Government Work Report (Draft) and the Outline of the 13th Five-Year Plan (Draft).

　　After bumping along the rugged mountain road for more than an hour, Li Keqiang came to the home of Wang Qi, a poor household in Banzigou Village, Xiji County, Guyuan, Ningxia on the afternoon of February 1. 70-year-old Wang Qi is paralyzed in bed and can only live on subsistence allowances. The Prime Minister inquired carefully about the distribution of subsistence allowances and reimbursement of serious illness medical insurance.

　　Li Keqiang visited Ningxia Shared Equipment Co., Ltd. on February 2nd. This old foundry state-owned enterprise, founded in 1966, made a revolutionary breakthrough in 3D printing of foundry industry through restructuring and innovation. The Prime Minister praised it for changing from "silly and rough" to "My Fair Lady", showing the integration of "Made in China 2025+ Internet", which is a vivid embodiment of the transformation of old and new kinetic energy.

　　On March 5th, at the fourth meeting of the 12th National People’s Congress, Li Keqiang, Premier of the State Council of the People’s Republic of China made a government work report.

　　On March 16th, Li Keqiang, Premier of the State Council of the People’s Republic of China met with Chinese and foreign journalists in the Great Hall of the People and answered their questions.

　　On March 22nd, Premier Li Keqiang welcomed China to attend the Lancang River in Sanya, Hainan. Leaders of Thailand, Cambodia, Laos, Myanmar and Vietnam shook hands with them and took photos as a souvenir. In 2014, Li Keqiang was in the 17th China — At the ASEAN leaders’ meeting, it was proposed that in China — Under the framework of ASEAN (10+1), explore the establishment of a dialogue and cooperation mechanism between Lan and Mei.

　　On March 25th, Li Keqiang came to the construction site of Hainan Boao Lecheng International Medical Tourism Pioneer Zone to learn about the living conditions of migrant workers. Knowing that a worker earns 9,000 yuan a month, but sends 8,000 yuan back to his hometown, the Prime Minister said that if you scrimp and save to increase family income, the projects built will also benefit more people’s health. You are the pillars of the family and the backbone of the country.

　　"Is there a difference between the six classics recorded in bamboo slips and the existing version? Have you found the Book of Music? " Li Keqiang repeatedly asked questions with great interest when he learned about the research results of "Tsinghua Bamboo Slips" in Tsinghua University on April 15th. The person in charge of the project said that Yue Jing has long been lost, and it is still difficult to determine, but at present, it has been found that there are many differences between bamboo slips and handed down documents, and there are new titles. The prime minister even praised the work as great.

　　On the evening of April 15th, when Li Keqiang appeared in the dining hall of Peking University Agricultural Park, the atmosphere in the whole hall suddenly reached boiling point, and students rushed forward to shake hands with the Prime Minister and take photos. Li Keqiang sat down among the students after choosing the dishes with a tray. From the expensive food in the canteen to whether the state grants are enough, from the accommodation conditions in the dormitory to the topic selection of the students’ papers, the Prime Minister talked with everyone over dinner for more than half an hour.

　　Three years later, Li Keqiang came to Lushan again. On April 24th, he first went to pay homage to the victims and the martyrs who died heroically in the earthquake relief. Li Keqiang walked slowly up the steps, leaned over and gently put a flower on the memorial platform in front of the memorial hall for the "4 20" Lushan strong earthquake. The names of 196 victims were engraved on the table. The Prime Minister bowed deeply in front of the memorial platform and observed a minute’s silence. The scene was solemn and solemn.

　　Three years ago, in the ruins of the Lushan earthquake on April 20, Li Keqiang shook the hand of the villager Gao Pancai and said, I promise to let you live in a new house. On the afternoon of April 24th, the Prime Minister walked into the newly-built three-story building of Gaos, and listened to the owner’s detailed comparison of life before and after the earthquake. The Prime Minister lamented that Sichuanese are optimistic, have the spirit of enduring earthquakes, and are tenacious and unyielding when encountering any difficulties.

　　On the afternoon of April 25th, Li Keqiang came to Jingrong Chuangke Town, Chengdu, Sichuan to communicate with entrepreneurs. Premier was invited to "learn" the skills of badminton robots designed by the entrepreneurial team.

　　On the evening of April 25th, Premier Li Keqiang visited Kuanzhai Lane in Chengdu at night. Just not far into the alley, Li Keqiang was attracted by the signboard of "See Mountain Bookstore", and went straight in, "scouring" books from shelf to shelf.

　　On May 23rd, Premier Li Keqiang filled the fuel tank of a red heavy truck on the assembly line at the new factory of Dongfeng Commercial Vehicle Heavy Truck.

　　On June 12th, Premier Li Keqiang accompanied visiting German Chancellor Angela Merkel for a walk in the Summer Palace. The prime ministers of the two countries met at the East Palace Gate and went to Zhichun Pavilion at the same time, overlooking the Buddha Pavilion and the 17-hole bridge symbolizing the spirit of cooperation. Then I went to the antique Dehe Garden Grand Theatre, where I felt the exquisite craftsmanship and rich cultural heritage of China classical gardens in a natural and human landscape.

　　On June 26th, Li Keqiang walked into the Flying Pigeon Bicycle Tianjin Shengli Road Experience Store. Bicycles of different grades, materials and performances are placed here. Premier came to a carbon fiber bicycle, weighed it, and personally experienced the performance of this super smart bicycle. He said, I would like to advertise bicycles in China, and I would like to upgrade the platform for "Made in China".

　　On the morning of June 28th, Li Keqiang, Premier of the State Council of the People’s Republic of China held a dialogue meeting at Tianjin Meijiang Convention and Exhibition Center with more than 300 entrepreneurs from all over the world attending the 2016 Summer Davos Forum. The Premier responded to China’s economic situation, structural reform, manufacturing upgrading, and financial and capital markets. Li Keqiang emphasized that China will continue to promote the development of the capital market in the direction of marketization and rule of law, improve financial supervision and guard against systemic and regional financial risks.

　　On July 6th, Premier Li Keqiang went to Wuhan Yangtze River embankment to direct rescue and disaster relief. It rained heavily that day, and the Prime Minister ignored the mud on the road and went straight to the piping site as soon as he got off the bus.

　　During Premier Li Keqiang’s visit to Mongolia from July 13th to 16th and attending the 11th Asia-Europe Summit, after the morning meeting, the Prime Minister did not rest, and was still busy summing up his work with the ministers.

　　On August 22nd, Premier Li Keqiang came to Huawu Group of Huangsha Village, Yeping Township, Ruijin, Jiangxi Province to inspect the progress of livelihood improvement projects such as the renovation of dilapidated adobe houses in rural areas. During the inspection, Jiangxi Province issued a yellow warning of high temperature, the highest temperature in some areas exceeded 38℃, and the shirt of the Prime Minister was soaked with sweat.

　　On August 22nd, when the Prime Minister passed a paddy field on his way to Ruijin, Jiangxi, he temporarily requested to stop. He got off the bus and went into the field to see the growth of rice, and randomly asked many farmers along the way about the purchase price of rice this year and the income of farmers growing grain. Li Keqiang told relevant officials accompanying him that the next step is to improve the grain circulation and price mechanism to protect farmers’ reasonable income from growing grain.

　　A sandwich and a cup of coffee is a lunch for Premier Li Keqiang during the East Asia Summit on September 8th. In this series of leaders’ meetings of East Asian cooperation, the Prime Minister’s multilateral and bilateral foreign affairs meetings were arranged in a tight schedule. It was past 1 noon that day, and the Prime Minister had just finished a bilateral meeting, and then he would immediately attend the leaders’ meeting of the "10+8" East Asia Summit. The prime minister’s lunch can only be so fast.

　　On the morning of September 19th, local time, Premier Li Keqiang attended the high-level meeting of the United Nations General Assembly on solving the problem of mass migration of refugees in new york, and expounded China’s proposition on solving the refugee crisis. This is the first high-level meeting to deal with the problem of refugee migration since the founding of the United Nations, and it is also the first time that Premier Li Keqiang took the podium of the General Assembly.

　　On the evening of September 21st, local time, two hours after Premier Li Keqiang arrived in Canada, he attended a family dinner hosted by Canadian Prime Minister Trudeau at the Prime Minister’s residence in Lake Chareton. Before the meal, the prime ministers and couples of the two countries sat and talked by the lake outside the official residence. After a simple three-course dinner, the prime ministers and couples of the two countries returned to the lake to enjoy the sunset scenery and continue to communicate.

　　On the afternoon of September 25th, local time, Premier Li Keqiang visited Fidel Castro, the leader of Cuban revolution. The two sides exchanged in-depth views on Sino-Cuban relations and a wide range of issues of common concern. Li Keqiang’s wife Cheng Hong attended the meeting. After the meeting, Castro specially accompanied Li Keqiang and his wife to visit the outdoor plantation. After the two sides cordially said goodbye, Castro watched the motorcade of Li Keqiang and his wife leave.

　　On the morning of October 10th, Li Keqiang met with Chief Executive Chui Sai On at the hotel where he stayed in Macau. He strolled to the window and stood for a long time, gazing at this hot land of Macau with deep affection.

　　On the afternoon of October 12th, Premier Li Keqiang came to the main venue of Shenzhen National Double Creation Week. Under the demonstration of a head of a hearing-impaired entrepreneurial team, the Prime Minister also made a gesture of "love". Li Keqiang paid special attention to this entrepreneurial team, and was invited to sign his name on the drawing board of "Caring for the Deaf to Start a Business".

　　On October 13th, a laser-cut word "Made in China" was delivered to Li Keqiang in the laser workshop of Shenzhen Dazu. The Prime Minister studied it carefully and said that the craft is very good, but "2025" should be added. The workers have made a smile and took a photo with the Prime Minister. Li Keqiang encourages employees that "Made in China 2025" holds great promise and should shine in your hands.

　　On October 17th, Premier Li Keqiang watched the launch of Shenzhou XI manned spacecraft at the China Manned Space Engineering Command Center in Beijing. The launch was a complete success.

　　On the afternoon of November 2, local time, after Li Keqiang arrived in Bishkek, the capital of Kyrgyzstan, he got off the plane and went straight to our embassy in Kyrgyzstan, where he had been attacked by terrorism, to visit the condolences staff. The Prime Minister instructed that the building should be repaired as soon as possible, and all forces should be coordinated to strengthen security work to ensure the personal safety of embassy staff, family members and overseas citizens.

　　On November 4th-5th, Li Keqiang, who attended the "16+1" leaders’ meeting in Riga, Latvia, held 17 bilateral meetings, which was a "grand slam"! Of course, the busiest core area is the scene where the Prime Minister negotiates with the ministers gathered around during the meeting.

　　On November 7, local time, Premier Li Keqiang and Russian Prime Minister Dmitry Medvedev, who are visiting St. Petersburg, Russia, held the 21st regular meeting between Chinese and Russian Prime Ministers in Constantine Palace, attended the signing ceremony and met with reporters together. Intensive activities lasted from 1: 00 noon to 7: 00 pm. The two "old friends" cordially said goodbye in the snowy night and agreed to meet again in Beijing next year.

　　Shanghai Free Trade Zone is 3 years old. Li Keqiang came here again on November 21st, and visited Shanghai Free Trade Zone for the third time in three years. Since the Prime Minister urged Shanghai to establish a free trade pilot zone in 2013, it has become a "reform highland" in the new era, not only expanding from the initial 28 square kilometers to 120 square kilometers today, but also replicating 10 "reform and opening up experimental fields" in Guangdong, Tianjin and Fujian.

[car home Taiyuan Promotion Channel] Good news! In order to give back to consumers, an unprecedented preferential activity is being carried out in Taiyuan market. At present, this high-profile electric vehicle is enjoying a cash discount of up to 115,000 yuan, and the minimum starting price has dropped to 324,900 yuan. This is a good opportunity to buy a car. If you want to know more about the preferential situation of specific models and the price of picking up the car, please click "Check the price of the car" in the quotation form to ensure that you can get the latest market preferential information and grasp the best time to buy a car.

The exterior design of BMW i4 fully embodies BMW’s innovative spirit and elegant aesthetics. The front face adopts the classic kidney grille design, but it incorporates the modern elements of the electrification era, making this iconic element more scientific and technological. The air intake grille adopts a closed design, which not only meets the aerodynamic requirements of electric vehicles, but also shows its electric identity. The overall style is smooth and futuristic, and the body lines are tough and dynamic, showing BMW’s unique insights in the field of luxury electric cars.

With its streamlined body design, BMW i4 outlines an elegant and dynamic profile. The body size is 4785 mm long, 1852 mm wide and 1455 mm high, showing the balance of strength and exquisiteness. The wheelbase is as long as 2856 mm, which gives the vehicle spacious interior space and excellent driving stability. The front tread is 1601 mm and the rear tread is 1630 mm, which ensures good handling performance. On the tyre size, BMW i4 is equipped with 245/45 R18 front wheels and 255/45 R18 rear wheels. With exquisite rim design, it not only enhances the visual effect, but also provides excellent grip and comfort for driving.

The interior design of BMW i4 is elegant and full of technology, which combines luxury and futuristic feeling. The exquisite leather steering wheel provides a comfortable grip and supports manual adjustment up and down and back and forth, which is convenient for drivers to adjust according to their needs. The center console adopts a 14.9-inch large touch screen, which integrates the functions of multimedia system, navigation and telephone, making it easy to operate and the information displayed clearly. The seat in the car is made of imitation leather, genuine leather and leather /Alcantara mixed material, which provides good riding comfort, supports front and rear adjustment, backrest adjustment and electric seat memory function, and the driver can set it individually. The front and rear rows are equipped with two USB/Type-C interfaces, including the wireless charging function of mobile phones, to meet the needs of passengers for various electronic devices. The overall interior pays attention to practicality and luxury, creating an intelligent and comfortable driving space for passengers.

The BMW i4 model is equipped with a powerful engine, with a maximum power of 210kW, providing a surging power output. At the same time, the engine also has a peak torque of 400 Nm, which ensures the excellent performance and response speed of the vehicle during acceleration and driving. This engine is BMW’s careful design for electric driving experience, aiming to meet the dual needs of users for power and efficiency.

In a word, according to the feedback from car home car owners, BMW i4 is impressive for its excellent sound insulation effect, surging power output and unique volcanic red interior design. He even compared it with the exquisiteness of Mercedes-Benz. As a luxury electric vehicle integrating performance and aesthetics, BMW i4 has undoubtedly won high praise in the market.

IT House reported on April 26th that Wuling Automobile launched the Wuling E5 pure electric car today, which can be regarded as the online car version of Wuling Starlight, with the price starting from 159,800 yuan.

The car is available in 410 km and 510 km versions, and the official guide price is 159,800 yuan and 169,800 yuan respectively.

For reference, Wuling Starlight Co-creation Edition pure electric vehicles are available in 410 standard and 510 advanced configurations, and the prices are 99,800 yuan and 109,800 yuan respectively.

IT House found that the configurations of the two models are basically the same, equipped with a single motor drive system with a maximum power of 100 kW, and equipped with lithium iron phosphate batteries with two capacities of 41.9 kWh and 54.3 kWh. The length, width and height of the whole vehicle are 4,835 * 1,860 * 1,515 mm respectively, with a wheelbase of 2,800 mm.

The standard configuration of the car includes automatic LED headlights, embedded door handles, 17-inch rims, rain-sensing automatic wipers and electrically heated exterior rearview mirrors, etc. At the same time, it supports Bluetooth key function, and high-profile models also provide 18-inch rims.

The car is also equipped with two floating screens, an 8.8-inch digital LED screen and a 15.6-inch central touch screen. There are two USB ports in the front and rear rows, and the maximum charging power is 20 watts. In addition, the vehicle is also equipped with practical functions such as 6-way electric adjustment of the main driver’s seat, six air outlets in the rear row and ISOFIX child safety seat interface.

　　UAE sends aerobatic team and cavalry to escort Putin (Russian News Network Today)

　　Overseas Network October 16thRussian President Vladimir Putin visited the United Arab Emirates on the 15th and signed a new contract with the UAE worth about $1.4 billion. In order to welcome Putin’s visit, the UAE dispatched aerobatic teams and cavalry teams, and held a grand welcoming ceremony in the palace.

　　Sputnik news agency & radio reported on the 15th that Putin was welcomed by Crown Prince Mohammed of Abu Dhabi, United Arab Emirates, at the airport after arriving in Abu Dhabi that day. After that, he drove through the center of Abu Dhabi, and the roads were covered with Russian flags and UAE flags.

　　The cavalry escorting Putin holds the national flags of the two countries (Russian News Network Today)

　　Putin’s welcome is not limited to this. Three white horse riders and 10 brown horse riders form a cavalry team, holding the national flags of the two countries and marching in a neat and rhythmic pace to escort Putin’s car.

　　The UAE Air Force also sent an aerobatic team. Seven planes pulled out white, blue and red smoke symbolizing the Russian flag and flew over Putin’s car and the escort cavalry.

　　UAE Army Plays Russian National Anthem (Russian News Network Today)

　　Later, Putin arrived at the United Arab Emirates Palace and watched the military band play the Russian national anthem with Crown Prince Muhammad. However, from the expression, Putin does not seem to be very looking forward to it.

　　According to an earlier report on today’s Russian website, Putin visited Saudi Arabia on the 14th. At the welcoming ceremony held by King Salman, when the Saudi military orchestra played the Russian national anthem, an embarrassing scene appeared: it was out of tune. As can be seen from the video published on this website, Putin’s expression is "slightly embarrassed".

　　On 15th, Putin and Crown Prince Mohammed were talking (Oriental IC).

　　According to Sputnik news agency & radio, after the welcoming ceremony, Putin held talks with Crown Prince Mohammed of Abu Dhabi, the United Arab Emirates, mainly discussing mutual cooperation between the two countries on the international stage and cooperation in the fields of energy, aerospace and tourism.

　　UAE and Russian discuss business cooperation and other matters (Sputnik news agency & radio)

　　Putin later said in a discussion with the UAE business community that Russia and the UAE signed a new contract worth about $1.4 billion. Every effort will be made to make foreign investors, including UAE, feel comfortable in the Russian market.

　　Putin also said that the UAE Sovereign Fund is one of the first partners of the Russian Direct Investment Fund (RDIF), and the two sides have jointly implemented more than 45 projects worth 2.3 billion US dollars, and the return on investment of these projects has obviously exceeded the global level. (Overseas network Wang Xiluo)

　　　　"Dedicating to firefighting is a noble realm! Choosing firefighting is choosing dedication. In the face of the baptism of blood and fire, and the test of life and death, firefighting officers and soldiers have rushed to the front line of emergency rescue and firefighting and disaster relief again and again, in exchange for social peace and people’s safety. Standing up, not afraid of sacrifice; heroic and tenacious, living up to their mission; going through fire and water, pursuing excellence… This is the ideological benchmark of firefighting officers and soldiers, and it is also the spiritual motivation and solemn commitment of firefighting officers and soldiers."

　　　　4月29日上午，消防英雄李继文、潘志毅事迹展在浙江省平湖市档案馆爱国主义教育基地举行了揭幕仪式。平湖市消防大队、平湖市民政局、公安局、文体局、教育局以及两位烈士家属等115人参加了揭幕仪式。平湖市委常委王道平出席了仪式。

　　　　揭幕仪式定于上午10时开始，然而9时刚过，社会民众就自发的来到烈士事迹展门口静静的等待。一位姓吕的市民手捧鲜花前来，将花束轻轻放在烈士事迹介绍展板前，并向烈士遗像鞠躬。“李继文是我民兵训练时的教导员，他为人正直，工作敬业，对于他的牺牲我一直深感惋惜。”他这次听说烈士事迹展开展，特意前来献花，以表怀念。

　　　　上午10时整，李继文、潘志毅事迹展揭幕仪式正式开始。平湖市委常委王道平、嘉兴市档案局副局长周军、平湖市消防大队以及平湖市中小学代表都纷纷在仪式上作了发言。他们纷纷表示，一定要立足本职，学习李继文、潘志毅两名烈士舍生忘死、顽强拼搏、无私奉献的精神，今后要用自己的行动为嘉兴市经济建设发展做出应有的贡献。

　　　　两位烈士家属与平湖市委常委王道平一同为消防英雄李继文、潘志毅事迹展揭幕，由公安部消防局谢模乾政委亲笔题词的“人民卫士 浩气长存”映入眼帘。现场响起了经久不息的掌声，代表了人们对烈士的无限敬意。随后，参观者跟随讲解员步入展厅。整个烈士事迹展分为英雄篇、成长篇、奋斗篇、励志篇四个部分，共展出烈士照片99张，实物73件，包括烈士生前所使用过的物品、穿着过的衣物、获得过的部分荣誉，生动地展现了李继文、潘志毅短暂而光辉的一生。

　　　　观看着烈士生前的一张张照片、一件件实物，听着讲解员富有感情的解说，观看着展厅里播放的“烈火双雄”的纪录片，许多参观者流下了感动的泪水。少先队员代表张紫薇说：“我们将以优异的成绩告慰烈士的英灵，他们将永远活在我们心中。”

　　　　再次目睹烈士生前的音容笑貌，在一件件展品中寻找着最珍贵的记忆，烈士家属们感到既悲痛又骄傲。李继文的妻子胡赞希望烈士事迹展能让更多人感受到烈士的精神，学习烈士的责任感，并将这种精神和责任感化为努力工作、认真生活的动力。

　　　　新闻链接：在浙江省嘉兴平湖市委、市政府的精心组织下，历时半年时间，平湖市爱国教育基地李继文、潘志毅烈士事迹展终于落成于东湖风景区环城东路9号，占地约120平方米，投资近二十万余元，烈士事迹展通过展板、文字、图片、实物等，详细介绍了李继文、潘志毅烈士的成长过程及所获得的荣誉，全方位展示了两位烈士的光荣历史和消防官兵不畏艰难，勇于拼搏的精神。

　　　　2007年9月13日凌晨，浙江省嘉兴平湖市林埭镇徐家埭集镇的平湖市林埭镇喜福门木门厂发生火灾。接到报警后，平湖市公安消防大队迅速出警组织扑救。 在灭火过程中，一根断落的电缆线突然砸向官兵，紧急关头，李继文同志奋不顾身冲上前去推开一名战士，自己不幸被电缆线击中，强大的电流把他击倒在河中。潘志毅同志见状急忙冲向前去拉他，也被电流击倒在河中。事发后，李继文、潘志毅被战友们迅速送往医院抢救，因伤势过重，抢救无效，光荣牺牲。