CCTV News:The General Administration of Customs announced on March 7 that in the first two months of this year, China’s import and export of goods increased by 8.7% year-on-year, and exports reached double-digit growth, making foreign trade a "good start".

In the first two months of this year, the total import and export value of China’s goods trade was 6.61 trillion yuan, up 8.7% year-on-year. Among them, the export was 3.75 trillion yuan, a year-on-year increase of 10.3%; Imports reached 2.86 trillion yuan, a year-on-year increase of 6.7%.

Behind the good start, China’s export growth performance is bright and its competitive advantage is consolidated. Exports of superior products such as automobiles, household appliances and ships increased by 15.8%, 24.3% and 180.6% respectively.

Diversified trading partners and vigorous private economy.

According to the data released by the General Administration of Customs, in the first two months of this year, the import and export of foreign trade between China and its major trading partners maintained a growth momentum, and the international market layout with close regional cooperation and diversified progress continued to be optimized.

Customs statistics show that in the first two months of this year, China imported and exported 3.13 trillion yuan to countries that jointly built the Belt and Road Initiative, up 9% year-on-year, accounting for 47.3% of China’s total import and export value. Among them, the import and export to ASEAN was 993.24 billion yuan, an increase of 8.1%; Imports and exports to five Central Asian countries reached 95.09 billion yuan, an increase of 26%. In the same period, the import and export to other RCEP member countries was 1.94 trillion yuan, an increase of 3.5%; Imports and exports to Latin America reached 587.48 billion yuan, up by 17.3%; Imports and exports to Africa reached 338.94 billion yuan, up by 17.3%.

After the Spring Festival, in Taizhou, the country’s largest private shipbuilding base and national ship export base, various ship companies are busy. In this dock, 14 ocean-going ships are being built at the same time.

At present, Jiangsu Taizhou has been successfully selected into the national advanced manufacturing cluster by virtue of its advantageous industries such as offshore equipment and high-tech ships. High-end ship types such as oil tankers, LNG dual-fuel power ships and super-large container ships are favored by the international market and become the "trump card" products for enterprises to attract international orders.

Develop new products, cultivate new formats, apply new technologies, and optimize market layout. Since the beginning of 2024, various departments and foreign trade entities in various regions have faced difficulties and taken measures simultaneously to seize new market opportunities and create new competitive advantages in innovation and change.

Customs statistics show that in the first two months of this year, the import and export of private enterprises in China was 3.61 trillion yuan, up 17.7% year-on-year, accounting for 54.6% of the total import and export value, up 4.2 percentage points from the same period last year.

"Going out to sea" service continues to increase, and enterprises seize the "spring economy"

At present, the "spring economy" has ushered in the peak of consumption. In overseas consumer markets, outdoor leisure products such as tents, beach chairs and travel bags are also popular among consumers. During this period, Ningbo Customs actively docked the enterprises exporting outdoor leisure products in its jurisdiction, sorted out the export difficulties and pain points of enterprises, and formulated a personalized supervision and protection plan to help enterprises seize the "spring economy".

Early in the morning, Ningbo Customs staff came to the company to give guidance on shipping, customs clearance, inspection and other issues in the export business of enterprises. The surge of orders and the extended shipping time compared with previous years have brought a lot of pressure to enterprises.

In March, the peak season of hiking and outing is coming, and outdoor leisure products will also usher in the peak season of sales. Ningbo Customs has further improved its overall supervision efficiency by implementing measures such as "reporting and checking immediately" and "booking customs clearance". At the same time, we will open up the whole chain of delivery policies and fully guarantee the timely delivery of corporate orders.

In 2024, it is planned to issue 1 trillion yuan of ultra-long-term special government bonds.

This year’s "Government Work Report" proposes that from this year, it is planned to issue ultra-long-term special government bonds for several consecutive years, specifically for the implementation of major national strategies and the building of security capabilities in key areas, with an initial issuance of 1 trillion yuan this year. Why do you want to issue "ultra-long-term special government bonds" this year? What is the significance of issuing ultra-long-term special government bonds?

National debt is a kind of government bond issued by the state to raise financial funds, which has the highest credit and is recognized as the safest investment tool. In the bond market, it is generally considered that interest rate bonds with a maturity of more than 10 years are "ultra-long-term bonds". The so-called "special" refers to the national debt issued for a specific goal with a clear purpose, and the funds need to be earmarked.

This year, China’s proactive fiscal policy should be "moderately strengthened", mainly by making good use of fiscal policy space, combining various policy tools, maintaining an appropriate expenditure scale, and promoting a sustained economic recovery.

Experts said that the ultra-long-term special national debt is aimed at two aspects, one is the implementation of major national strategies, and the other is the construction of security capacity in key areas. These areas are aimed at the long term and are closely combined with the task of Chinese modernization.

Wu Sa, deputy director of the Economic Research Institute of China Macroeconomic Research Institute, said that, for example, new urbanization, rural revitalization, rejuvenating the country through science and education, food security, energy security, etc., these areas are in urgent need of some medium-and long-term investments, and these investments will be issued through ultra-long-term special government bonds, because the issuance period of government bonds is longer, and the economic and social benefits in these areas are also longer, and they match each other and can better play the special pulling role of ultra-long-term government bonds.

China has tried visa-free policies for six countries including Switzerland since March 14th.

The Department of Consular Affairs of the Ministry of Foreign Affairs announced on March 7 that in order to further promote the exchange of Chinese and foreign personnel, China decided to expand the scope of visa-free countries and try out visa-free policies for ordinary passport holders in Switzerland, Ireland, Hungary, Austria, Belgium and Luxembourg. During the period from March 14th to November 30th, 2024, people with ordinary passports from the above-mentioned countries may come to China for business, sightseeing, visiting relatives and friends and transit for less than 15 days, and may enter China without a visa. Those who do not meet the visa-free conditions in the above countries still need to complete their visas to China before entering the country.

In February, the global manufacturing purchasing managers index was 49.1%.

China Federation of Logistics and Purchasing released on March 6th that the global purchasing managers’ index of manufacturing industry was 49.1% in February, down 0.2 percentage points from last month, and remained above 49% for two consecutive months. The recovery of global manufacturing industry is relatively stable, but it still maintains a low growth pattern. In February, the purchasing managers’ index of Asian manufacturing industry was 50.3%, which remained above 50% for two consecutive months.

For the first time, China telecom enterprises obtained the international telecom code number resources of satellite communication services.

The reporter learned from the Ministry of Industry and Information Technology that China Telecom Group Co., Ltd. has been approved by the international telecommunications department recently, and obtained the user dialing number and network identification number of Tiantong satellite service. This is the first time that China telecom enterprises have obtained international telecom code number resources for satellite communication services.

The "Silk Road Shipping" route has exceeded 14,000 times.

According to Xiamen Customs, by the end of February, the "Silk Road Shipping" route had operated more than 14,000 times, and the container throughput exceeded 16.6 million TEUs, reaching 106 ports in 37 countries and regions jointly building the "Belt and Road".

The two departments issued opinions to minimize the inconvenience of litigation for disabled people.

On March 6th, the Supreme People’s Court and China Disabled Persons’ Federation jointly issued their opinions, and for the first time made specific specifications for the barrier-free environment construction of litigation service places of people’s courts. Encourage qualified courts to make special marks on cases involving disabled persons, so as to realize priority in filing, trial and execution. For the disabled who can’t handle litigation matters independently on the spot, arrange special personnel to provide agency and deputy services.

Haixi, Qinghai: Red deer, a national second-class protected animal, appears in wetland park.

A few days ago, a photographer took a moving picture of the national second-class protected animal red deer in Buha River Wetland Park, Tianjun County, Haixi Prefecture, Qinghai Province. There are dozens of red deer in this group. They take a leisurely walk in the wetland park, stop and watch from time to time, and then queue up to cross the river ice. In recent years, with the improvement of local ecological environment, more and more wild animals thrive here.

　　Zhongxin Finance, January 27th (Ge Cheng) Recently, Chongqing Ruilan Automobile Technology Co., Ltd., a joint venture company under Geely, officially settled in Liangjiang New District of Chongqing. The new company is jointly invested by Geely Automobile and Lifan for 300 million yuan, which indicates that Geely will accelerate its entry into the new energy vehicle exchange circuit.

　　It is reported that Ruilan Automobile is an automobile company with independent production qualification jointly established by Geely Automobile and Lifan Technology, which is positioned in a new generation of new potential energy for power exchange and travel. In the future, Ruilan Automobile will develop new products based on the self-developed power exchange platform, and work together at the B-end and C-end to lay out the power exchange market.

　　In addition to car companies, power battery related companies are also actively deploying in the field of new energy vehicles. On January 18th, Contemporary Amperex Technology Co., Limited, the industry leader, released the power exchange brand "EVOGO", providing users with a "combined power exchange overall solution" consisting of three products: power exchange block, quick exchange station and APP.

　　The power exchange mode is popular.

　　In addition to the newly-built Ruilan Automobile and Contemporary Amperex Technology Co., Limited, Weilai, BAIC, Geely, Chang ‘an and other enterprises have successively laid out the new track of power exchange.

　　In 2020, Weilai was named as one of the 100 companies that changed the world by Fortune magazine because it launched a battery rental service based on the separation of vehicles and electricity. Its CEO Li Bin said: "The battery of the power station itself is an energy storage device. In the process of operation, the use of technological innovation can effectively reduce the carbon emissions per unit of electricity and the overall facilities."

　　Charging and replacing facilities are the bottleneck of the popularization and application of new energy vehicles, and whether the electric energy is "clean" is also the key to its energy saving and emission reduction. Chen Quanshi, a professor at Tsinghua University Institute of Vehicles and Transportation, said that centralized power exchange can make full use of the low-peak electricity at night and further reduce carbon dioxide emissions.

　　The power batteries of new energy vehicles can form a huge "power sponge", which can realize reverse power transmission to the power grid by centralized charging and replacing, and has the potential of dispatching energy storage. Xin Baoan, chairman of State Grid Co., Ltd. said that new energy vehicles with power batteries can effectively participate in peak shaving and valley filling, ensure the balance of power and electricity, and improve the overall operating efficiency of the power system.

　　On the other hand, adopting the power exchange mode can also make the new energy vehicles change and leave without waiting for charging. When a new energy vehicle is charged to 80%, it takes 30 minutes at the earliest, and the power change can be completed within 5 minutes. The appearance of power exchange mode will effectively improve the problem of long waiting time for new energy vehicles to replenish energy. Once popularized, the long-term "queuing" of charging stations will no longer exist.

　　In addition, the power exchange mode is also conducive to improving safety and prolonging the service life of power batteries, which can effectively reduce the use cost of new energy vehicle batteries. The centralized monitoring, management and maintenance of batteries by operating companies are more professional than users, which is conducive to prolonging the life of power batteries and improving the safety of batteries.

　　Although the advantages are obvious, the development speed of the new energy vehicle power exchange mode is far less than that of charging. Experts in the industry generally believe that the current standard of power exchange is not uniform, which is a major obstacle to the development of power exchange mode. Liu Yongdong, director of the Standardization Center of China Electric Power Enterprise Federation, once admitted that the power exchange standards are not completely missing, including connectors, batteries and communication protocols, but they are all related standards. However, due to the constraints and poor operability of the standards, a consensus has not been reached in the industry.

　　Policy promotes the development of power exchange

　　New energy vehicles are an important cornerstone of the development of China’s automobile industry, which has played an indispensable role in the process of China’s transformation from a big automobile country to a powerful automobile country.

　　According to official data, in 2021, the sales of new energy vehicles in China reached 3.521 million, a year-on-year increase of 1.6 times, ranking first in the world for seven consecutive years. Relevant policies have played a very important role in the development of new energy automobile industry.

　　In 2020, the Development Plan of New Energy Vehicle Industry (2021-2035) issued by the General Office of the State Council put forward an outline for the development of new energy vehicle charging mode: we should vigorously promote the construction of charging and charging network, encourage the application of charging and charging mode, strengthen the research and development of new charging technologies such as intelligent and orderly charging, high-power charging and wireless charging, and improve charging convenience and product reliability.

　　In view of the development of new energy vehicle power exchange mode, the competent authorities have also put forward corresponding policy standards to promote the innovative development of business models.

　　On November 1, 2021, the "Safety Requirements for Electric Vehicle Switching" promulgated by the Ministry of Industry and Information Technology was officially implemented, which stipulated the safety requirements, experimental methods and inspection rules of electric vehicles, and solved the urgent problem that there was no standard to follow in the switching mode. In the future, the standards for power batteries of new energy vehicles are expected to be unified.

　　In addition, increasing the research and development of new technologies will also play a positive role in promoting the rapid development of new energy vehicles. On January 10th, 2022, the National Development and Reform Commission and other departments jointly issued the "Implementation Opinions of the National Development and Reform Commission and other departments on Further Improving the Service Support Capability of Electric Vehicle Charging Infrastructure", proposing to continue to increase the research and development of new technologies and continuously improve the standard system. Give full play to the energy storage characteristics of power batteries, explore and promote orderly charging, V2G and other forms, and realize the synergistic interaction between electric vehicles and the power grid. Promote the power exchange mode according to local conditions in scenes such as mines, ports and urban transshipment.

　　At present, the Ministry of Industry and Information Technology has started the pilot work of the application of new energy vehicle power exchange mode. There are 11 cities included in this pilot project, and Beijing, Nanjing, Wuhan and other cities have been shortlisted as pilot cities for power exchange mode, and will accelerate their development in strengthening technology research and development, carrying out demonstration applications and improving infrastructure.

　　Business model needs to be broken through.

　　As a new thing, the development of new energy vehicle power exchange is not smooth sailing.

　　In 2019, Weilai Automobile launched Nio Power power exchange technology for private car owners. After a period of operation, some users spit out: "Change the power for three minutes and wait for one hour." On the one hand, it reflects that the power exchange service is hot and popular among car owners, which was once in short supply; On the other hand, the new business model has shortcomings and poor user experience.

　　By 2021, Weilai has built more than 700 power stations in China. According to the plan, in 2022, Weilai automobile power stations will exceed 1,300.

　　As time goes on, the power exchange mode has gradually matured in the pilot cities and has been accepted by car owners.

　　Master Wang, a taxi driver in Beijing, told the reporter of Zhongxin Finance and Economics that the mode of changing electricity brought convenience to the new energy taxi he was driving. In the past, it took one hour to charge, but now it only takes three or four minutes to get it, and the price is more affordable than that of a fuel car. Sixty or seventy yuan can run more than 200 kilometers. More and more taxi drivers have taken new energy taxis as the first choice for changing cars.

　　At present, many car companies, such as Weilai and BAIC, have launched battery-changing models and power stations, but the battery-changing business is mostly based on their own brands, and the market level has not been penetrated, and the corresponding business model has not been completely opened. The development of battery-changing mode is still hindered by many obstacles. Li Songzhe, a researcher of China Electric Vehicle committee of 100 Research and Consulting Department, mentioned that even if a car company realizes the unification of battery specifications and standards, it is still difficult to make a profit because of its small scale.

　　Although there are many difficulties at present, under the background that car companies and power battery manufacturers are competing to enter the new energy vehicle power exchange track, the power exchange mode will still usher in a wave of leap-forward development. The unification of relevant standards for power batteries will accelerate the popularization of power exchange mode, and then form a business model with wider coverage and more mature operation mode. By then, the last obstacle to the development of new energy vehicles will be removed, and the problems of "by going up one flight of stairs" and "mileage anxiety" will no longer exist. (End)

Watch animation in summer.

In the big environment where the epidemic has not yet dispersed, the film market is still in a state of slow heat, and it is not as frequent as the summer files in previous years. However, the animated film "White Snake 2: The Green Snake Robbed" still won a great discussion with a box office of 400 million yuan (as of press time) and a douban score of 7.3 points. The audience who watched the previous work "White Snake: The Origin" and paid attention to domestic animation will also be interested in many eggs in "The Green Snake Robbed". Today, Xiaobian will take you to see the eggs buried in this animated film.

The owner of Baoqing Workshop got the broken tail.

There are two eggs at the end of "White Snake 2: The Green Snake Robbed". The first one is that the owner of Baoqingfang got a broken tail at the bottom of the West Lake Bridge, and he murmured that "the trace of the enemy will finally show, and my great hatred will be reported". Then, in the animation, we have seen that the owner of Baoqingfang had eight tails when he was incarnated without a pool, plus one in the treasure chest, which is exactly nine. It is not difficult to guess that the real identity of the owner of Baoqing Workshop is actually the nine-tailed fox in ancient mythology, that is, the charming Zhou Wang da ji. The story about the revenge of the owner of Baoqing Workshop is bound to unfold in the subsequent animation, which is worth looking forward to.

Yang Jian

As early as when it was released in New Gods: Nezha Reborn, there were eggs about Yang Jian at the end of the film. At that time, Yang Jian was dressed in modern clothes and appeared in the street smartly. Now, the last egg at the end of The Green Snake is also about Yang Jian. Yang Jian, dressed in ancient costume, jumped from a sailboat flying in the air and flew to Penglai Wonderland. Many netizens speculated that "White Snake" series animation and "New God List" series would share a world view, but screenwriter Wei Wang denied this statement. So, how does the story of The New God List: Yang Jian unfold? Is Yang Jian also a role with both ancient and modern identities? We won’t know until the movie is released.

Ouroborosaurus

Shura City is a city in the shape of Wuluo Polosse (a snake that almost bit its tail end to end). The Ouroborosaurus is the layout of Shura City in The Green Snake Robbed, and it is also the key for Xiaoqing to leave Shura City. The owner of Baoqing Workshop called the tail of the Ouroborosaurus a bridge, and those who are obsessed with it can leave Shura City with their memories after jumping over it at an appropriate moment. But the snake itself also contains the meaning of fate and reincarnation, which not only corresponds to Xiaoqing’s prototype, but also symbolizes the cycle of life.

Male and white

In the second half of the film, it can be traced back to one thing from Xiaobai’s memory-Xiaobai has been reincarnated many times after the Leifeng Tower fell, including both boys and girls, and it was not until the male Xiaobai of Shura City that he entered Shura City with his obsession. This story reveals a message that Xiaobai’s body may not have come out of the Leifeng Tower, but was reincarnated for some reason. In addition, in China’s early local operas, the green snake was originally a male, but because she coveted the beauty of the white snake and was suppressed by its magic power, she became a maid Xiaoqing to serve around. Therefore, perhaps in the film, the fetters of the green and white sisters have transcended gender, time and space, which is a deeper definition of love.

Why can’t Fahai beat Xiaoqing?

In the dreamland set by the movie story, Xiaoqing not only overthrew the Leifeng Tower, but also turned Fahai into nothingness. According to Spider Spirit, twenty years in the dreamland cave, only one day outside the cave. But Xiaoqing can practice all the time, but Fahai in the dreamland only grows with age, and can’t make progress. In addition, Shura City was originally built by Fahai, and combined with the plot of letting Xiaoqing go by Fahai at the beginning of the movie, perhaps the dreamland Fahai is the door left by the real Fahai to Xiaoqing Du Jie and her obsession.

Ox Head and Horse Face ［two demon attendants of the King of Hell］—demonic/evil/wicked people of all kinds

There are two gangs in Shura City, one is Luo Cha led by Sima Guan Ren, and the other is Niutou Gang. Behind the cow’s head and horse’s face are actually people, only when this person sells himself for strength does he become a cow’s head and horse’s face. This is a metaphor in The Green Snake Robbed, implying a sinister heart.

Architectural design of shura city

The setting of Shura City is very interesting. The architecture in the city includes modern urban style, industrial urban architectural style, as well as ancient architectural complexes of various dynasties. Natural landscapes such as mountains, lakes, islands and cliffs, combined with modern articles such as locomotives, chariots, machine guns and laptops, have greatly opened the world view of Shura City. These elements may also mean that the light-chasing animation will be more integrated in the subsequent animation film creation.

Four robberies

The four robberies in "The Green Snake Robbed" correspond to the four mythical beasts in ancient China: Fei Lian, an exotic animal with a bird’s head and a deer, is the wind god; Bi Fangniao, who burned Wanyi Supermarket, was a legendary beast that helped the Yellow Emperor resist Chiyou during the Chiyou War. Wherever it appeared, a strange fire would happen. The beast that launched the water robbery is a mysterious turtle that uses qi to purify water; And the gas robbery at the end of the film, the animal that produced the poisonous gas, is a strange fish in the ancient legend of China, which is called Pomfret Fish. According to Shan Hai Jing, this fish can be used for fire prevention, and consumption of it can cure consumption.

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　　Xinhua News Agency, Beijing, September 5th　

Work together to promote modernization and build a community of destiny.

— — Keynote speech at the opening ceremony of the Beijing Summit of the Forum on China-Africa Cooperation

(Beijing, September 5, 2024)

Chairman People’s Republic of China (PRC), Supreme Leader

　　Dear President Faye,

　　Dear President Ghazwani, the rotating chairman of the African Union,

　　Dear Heads of State, Government and Delegation,

　　Dear Mr. Guterres, Secretary-General of the United Nations,

　　Dear Mr. Faki, Chairman of the African Union Commission,

　　Dear friends and distinguished guests,

　　Chun Hua Qiu Shi, old things are rich. In this harvest season, I am very happy to meet all the old and new friends in Beijing to discuss the friendly cooperation between China and Africa in the new era. First of all, on behalf of the government of China and the people of China, I would like to extend a warm welcome to all of you!

　　China-Africa friendship crosses time and space, mountains and seas, and is passed down from generation to generation. The establishment of the Forum on China-Africa Cooperation in 2000 is an important milestone in the history of China-Africa relations. Over the past 24 years, especially since the new era, China has been working hand in hand with African brothers and sisters in the true and sincere concept. We are shoulder to shoulder and hand in hand in the century-old changes in the world, firmly defending each other’s legitimate rights and interests; In the tide of economic globalization, we have strengthened our bones and muscles, and achieved fruitful results to benefit hundreds of millions of people in Central Africa; In the face of great disasters and epidemics, we worked hard together and wrote a touching story of China-Africa friendship; We have always understood each other and supported each other, setting a new model of international relations.

　　After nearly 70 years of hard work, China-Africa relations are at their best in history. Facing the future, I propose that the bilateral relations between China and all countries that have diplomatic relations with Africa be upgraded to the level of strategic relations, and the overall positioning of China-Africa relations be upgraded to an all-weather community of China-Africa destiny in the new era!

　　Dear friends and distinguished guests!

　　Realizing modernization is an inalienable right of all countries in the world. The process of western modernization has brought great suffering to developing countries. After the Second World War, the third world countries, represented by China and Africa, achieved independence and development one after another, and constantly corrected historical injustices in the process of modernization. People’s Republic of China (PRC) is about to celebrate its 75th birthday, and is unswervingly promoting the construction of a strong country and the great cause of national rejuvenation with Chinese modernization. Africa is also experiencing a new awakening and making steady progress towards the modernization goal described in the African Union’s Agenda 2063. The dream of China and Africa pursuing modernization together will surely set off a global modernization upsurge in the South and write a new chapter in building a community of human destiny.

　　— — We should work together to promote fair and reasonable modernization. To promote national modernization, we should not only follow the general law of modernization, but also conform to the reality of our country. China is willing to strengthen exchanges of experience in governing the country with Africa, support countries to explore modernization paths suited to their national conditions, and ensure equal rights and opportunities for all countries.

　　— — We must work together to promote open and win-win modernization. Mutually beneficial cooperation is in the long-term and fundamental interests of all countries, sunshine avenue. China is willing to deepen cooperation with Africa in the fields of industry, agriculture, infrastructure, trade and investment, set a benchmark for building the "Belt and Road" with high quality, and jointly create a model for implementing global development initiatives.

　　— — We should work together to promote the modernization of the people first. Realizing people’s free and all-round development is the ultimate goal of modernization. China is willing to actively cooperate with Africa in personnel training, poverty alleviation, employment and other fields to enhance people’s sense of gain, happiness and security in the process of modernization, and jointly promote modernization to benefit all people.

　　— — We must work together to promote the modernization of pluralism and tolerance. Realizing the coordinated development of material civilization and spiritual civilization is the lofty pursuit of modernization. China is willing to have close cultural exchanges with Africa, advocate mutual respect and inclusive coexistence of different civilizations in the process of modernization, and jointly promote the global civilization initiative to bear more fruits.

　　— — We should work together to promote eco-friendly modernization. Green development is a distinctive symbol of modernization in the new era. China is willing to help Africa build a "green growth engine", narrow the gap in energy accessibility, adhere to the principle of common but differentiated responsibilities, and jointly promote global green and low-carbon transformation.

　　— — We should work together to promote the modernization of peace and security. Modernization is inseparable from a peaceful and stable development environment. China is willing to help Africa enhance its ability to independently maintain peace and stability, promote global security initiatives to take the lead in Africa, promote the benign interaction between high-quality development and high-level security, and jointly safeguard world peace and stability.

　　Dear friends and distinguished guests!

　　China and Africa account for one third of the world’s total population. Without the modernization of Central Africa, there would be no modernization of the world. In the next three years, China is willing to carry out ten partnership actions with Africa to jointly promote modernization, deepen China-Africa cooperation and lead the modernization of the global South.

　　First, the partnership action of mutual learning among civilizations. China is willing to build an exchange platform for China-Africa experience in governing the country and set up a China-Africa development knowledge network and 25 China-Africa research centers with Africa. Relying on the African Leadership Institute to train talents for governing the country, 1,000 African political parties were invited to China to exchange ideas and deepen the exchange of experience in governing the party and the country.

　　Second, trade prosperity partnership action. China is willing to take the initiative to unilaterally open its market, and has decided to give 100% tariff-free treatment to all the least developed countries that have established diplomatic relations with China, including 33 African countries, to become the first large developing country and the world’s major economy to implement this initiative, and to promote China’s big market as a great opportunity for Africa. Expand access to agricultural products in Africa, deepen cooperation in e-commerce and other fields, and implement the "China-Africa Quality Improvement Plan". China is willing to sign a framework agreement with Africa to jointly develop economic partnership and provide long-term, stable and predictable institutional guarantee for China-Africa trade and investment.

　　Third, industrial chain partner action. China is willing to build an industrial cooperation growth circle with Africa, focus on building a pioneering zone for in-depth economic and trade cooperation between China and Africa, and launch the "African SME Empowerment Plan". Co-build China-Africa Digital Technology Cooperation Center, build 20 digital demonstration projects, and jointly embrace a new round of scientific and technological revolution and industrial transformation.

　　Fourth, the interconnection partner action. China is willing to implement 30 infrastructure connectivity projects in Africa, work together to build the "Belt and Road" with high quality, and build a China-Africa interconnection network with land and sea linkage and coordinated development. China is willing to help the construction of a free trade zone on the African continent, deepen logistics and financial cooperation, and help Africa’s cross-regional development.

　　Fifth, develop partner actions. China is willing to jointly issue a joint statement with Africa to deepen cooperation within the framework of global development initiatives and implement 1,000 "small but beautiful" livelihood projects. Invest in the China-World Bank Partnership Fund to help Africa’s development. Support the hosting of the 2026 Youth Olympic Games and the 2027 Africa Cup, and promote the development achievements to better benefit the Chinese and African people.

　　Sixth, health partnership action. China is willing to establish a China-Africa hospital alliance with Africa to jointly build a joint medical center. We will send 2,000 medical personnel to Africa, implement 20 medical and anti-malaria projects, promote China enterprises to invest in drug production, and continue to provide assistance to the epidemic in Africa within our capacity. Support the construction of African CDC and improve the public health capacity of African countries.

　　Seventh, partner action to promote agriculture and benefit the people. China will provide 1 billion yuan of emergency food aid to Africa, build 100,000 mu of agricultural standardization demonstration zone, send 500 agricultural experts and build China-Africa agricultural science and technology innovation alliance. Implement 500 public welfare projects. Encourage Chinese and African enterprises to "go both ways" to invest and start businesses, leave the added value of industries in Africa, and create no less than 1 million jobs for Africa.

　　Eighth, people-to-people exchange partnership action. China is willing to further promote the "Future Vocational Education in Africa" plan with Africa, jointly build an engineering and technical college and build 10 "Luban workshops". Focus on African women and youth, providing 60,000 training places. Jointly implement the China-Africa "Cultural Silk Road" plan and the "Radio and Television Audio-visual Innovation Cooperation Plan". The two sides agreed to designate 2026 as "China-Africa Humanities Exchange Year".

　　Ninth, green development partnership action. China is willing to implement 30 clean energy projects in Africa, build a meteorological early warning business platform, and carry out cooperation in disaster prevention, mitigation and relief and biodiversity protection. China-Africa Forum on Peaceful Uses of Nuclear Technology was established, 30 joint laboratories were built, and cooperation in satellite remote sensing, moon and deep space exploration was carried out to help Africa achieve green development.

　　Tenth, build a partnership for security. China is willing to establish a partnership with Africa to implement the global security initiative, build a demonstration zone for initiative cooperation, provide 1 billion yuan of unpaid military assistance to Africa, train 6,000 military personnel and 1,000 police law enforcement personnel for Africa, and invite 500 young officers to visit China. We will carry out joint training and joint cruises between the Chinese and African armed forces, and implement the "Action to Help Africa Get rid of Landmines" to jointly safeguard the safety of personnel and projects.

　　In order to promote the implementation of the "Top Ten Partnership Action", the China Municipal Government is willing to provide 360 billion yuan of financial support in the next three years, including 210 billion yuan of credit funds and 80 billion yuan of various kinds of assistance, and promote China enterprises to invest in Africa not less than 70 billion yuan. China will also encourage and support non-parties to issue "panda bonds" in China and provide strong support for pragmatic cooperation between China and Africa in various fields.

　　Dear friends and distinguished guests!

　　In July this year, the Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) was successfully held, which made systematic arrangements for further comprehensively deepening reform and promoting Chinese modernization. This will further profoundly change China, and will certainly provide new opportunities and inject new kinetic energy into African countries and China and Africa’s dream of pursuing modernization together.

　　There is an African proverb that "people who go the same way are true friends". No one can be left behind on the road to modernization, and no country can fall behind. Let us unite the majestic strength of more than 2.8 billion Chinese and African people, walk hand in hand on the journey of modernization, help the modernization of the global South with the modernization of China and Africa, draw a brand-new picture in the history of human development, and jointly push the world towards a bright future of peace, security, prosperity and progress!

　　Thank you.

　　Beijing, July 23 (Yu Wang) On the 22nd, Beijing time, FINA issued a statement, and decided to warn the Australian Swimming Association and mark houghton for Australian Horton’s refusal to take a photo with Sun Yang at the award ceremony.

　　FINA said that it respects the freedom of speech of athletes, but at the same time, it believes that everyone’s freedom of speech needs to be expressed in the right way.

　　FINA issued a statement and decided to warn the Australian Swimming Association and mark houghton. Image source: FINA official website

　　Can’t afford to lose? Sun Yang won the championship and Horton refused to take a photo.

　　In the men’s 400-meter freestyle final of the World Championships, Sun Yang won the championship in 3 minutes, 42.44 seconds, achieving four consecutive championships in the World Championships. This is Sun Yang’s tenth gold medal in the World Championships, and it is also the most powerful proof that "everything in the competitive arena depends on the results".

　　However, at the award ceremony after the game, Australian Horton, who won the silver medal, once again made much ado about nothing and refused to take a photo with Sun Yang on the podium, which also caused boos from the audience. And Sun Yang also ignored, just laugh it off.

　　For Horton’s rude behavior, Sun Yang responded at the press conference that night: "The award is very sacred. You have thousands of unwillingness, but when you stand on the podium, you can disrespect me, but you must respect China."

　　This series of "storms" did not disturb Sun Yang, who entered the competition state. In the men’s 200m freestyle semi-final held on the evening of 22nd, he advanced to the final with a time of 1 minute 45.31 seconds. Tonight, Populus alba will attack the second gold medal in this World Championships.

　　Helpless! Horton made trouble at the Rio Olympics.

　　In fact, Horton’s unprovoked attack on Sun Yang can even be traced back to the Rio Olympic Games three years ago. At that time, before the men’s 400-meter freestyle final, Sun Yang took the initiative to greet him, but he was coldly greeted by his opponent.

　　What is even more jaw-dropping is that Horton beat Sun Yang to win the gold medal in the subsequent competition. However, after winning the gold medal, he openly attacked Sun Yang and called him a "doping player". Horton’s unprovoked slander immediately caused an uproar.

　　In the men’s 400-meter freestyle swimming in Rio Olympic Games, Sun Yang regretted winning the silver and Horton won the gold medal. Zhongxin.com reporter Futian photo

　　In response to Horton’s behavior, a spokesman for the International Olympic Committee once responded: "The audience wants to see fair, just and open sports events. We hope that athletes will adhere to the Olympic spirit and ask each athlete to respect each other."

　　As a party, Sun Yang immediately replied: "We are not friends". The Chinese Swimming Association also formally notified the Australian Swimming Association and asked Horton to publicly apologize for what he had done.

　　Comfortable! FINA issued a statement warning Horton

　　But this time, FINA’s attitude is even tougher. In their statement, they said: "FINA officials analyzed the situation of the men’s 400-meter freestyle award ceremony and decided to send a warning letter to Australian Swimming Co., Ltd. and its athlete Horton."

　　"FINA respects freedom of speech, but it must be done in an appropriate context. Like all major sports organizations, our athletes and their entourage should understand that they have the responsibility to respect FINA regulations and not to use FINA events to make personal statements or gestures. "

　　Horton refused to take a photo with Sun Yang at the award ceremony. China News Service reporter Han Haidan photo

　　According to the usual practice, only FINA and the World Anti-Doping Agency are responsible for the investigation of doping in swimmers. When FINA decided that there was no violation in Sun Yang and court of arbitration for sports had not held a hearing on doping control in Sun Yang, Horton’s accusation was obviously groundless.

　　Recently, Sun Yang also issued a certificate through his lawyer, demanding that the hearing be made public to prove his innocence. FINA expressed a clear attitude: "Horton’s protest is currently under trial in court of arbitration for sports, and FINA will not comment on it before the hearing."

　　Condemn! Former executive of Australian anti-doping agency: Horton should be severely punished

　　Many people in the industry also criticized Horton’s loss after the game. Richard Inges, the former CEO of the Australian Sports Anti-Doping Administration, is one of them. He said on his personal social media that Horton should be severely punished for this.

　　Richard Inges, former CEO of the Australian Sports Anti-Doping Administration, said Horton should be severely punished.

　　"I’m not a fan of Sun Yang, but a series of things have been clarified before. Therefore, Horton’s failure to stand on the podium should be severely punished. " He wrote.

　　According to the internationally renowned swimming website "Swim Swam", Horton also "suggested" Italian player Deti who won the third place to stand on the podium before the award ceremony, but the Italian said, "I have paid too much for this bronze medal, and I want to stand on the podium."

　　Not only that, Horton also attracted resistance from foreign netizens on social media. Some netizens said: "Sun Yang’s participation in the competition has proved that he is innocent. I don’t understand that Horton wants to make a big fuss about this." "Why can’t Horton face the reality: he just can’t win Sun Yang?"

　　Interesting! Horton participated in the World Championships by "going through the back door"?

　　Interestingly, Horton, who openly accused others of "counterfeiting" in public, was able to come to Gwangju, and the reasons behind it were also somewhat speechless. According to Australian media reports, Horton did not qualify for the previous World Championships in Australia.

　　After the men’s 400-meter race, the British Daily Mail also wrote that Horton’s move was "very rude" and revealed that he relied on "privilege" to participate in this World Championships. The reason is that Horton’s head coach has discretion.

　　Horton refused to take a photo with Sun Yang at the award ceremony. China News Service reporter Han Haidan photo

　　In the end, Horton also repaid the trust of the Australian Swimming Association with a silver medal, but what he did after the game puzzled the coach: "No one knew he would do this, it was his idea."

　　In sharp contrast, at the women’s 100m butterfly award ceremony on the evening of 22nd, Canadian player McNeil, Swedish star Sjostrom and Australian player mckeown put their palms to the camera, and their hands were written with the words "Chijiang Glazed Flower" and "Never Give Up" to cheer for Chijiang Glazed Flower suffering from leukemia, which also moved everyone.

　　The stadium is a stage for athletes to pursue "higher, faster and stronger", which is pure and full of warmth and emotion. Whether you are skeptical or resentful, please let sports return to their original heart when the starting gun goes off. (End)

Special feature of 1905 film network 6.758 billion!According to the statistics released by the National Film Bureau, the Spring Festival in 2023 lived up to expectations, successfully surpassing the box office record in 2022 with a box office score of 6.758 billion, and at the same time achieving the second good result in film history.High-quality works with diverse types and styles have also successfully attracted more than 129 million people to enter the cinema again during this Spring Festival holiday.

The total box office brought surprises, and the single-chip performance was equally wonderful.

From the opening of the painting on the first day of New Year’s Day to the end of the sixth day holiday, the two "head" blockbusters successfully crossed the 2 billion mark, and the title winner "Man Jianghong" finally won with over 2.606 billion yuan, and "Wandering Earth 2" gained 2.163 billion yuan. The third place "Bears Come and Go with Me" is the most "unexpected". It entered the third place with 747 million yuan for the ninth time in the Spring Festival file, and ranked fourth to sixth.

In addition, under the condition of the key continuation, the film played a super stamina and won 49.67 million box office, ranking seventh in the Spring Festival file.

The film, which was originally released on the third day of the New Year’s Eve, announced on the evening of the fourth day that it would change its distribution strategy, focusing on point screening, and the schedule was changed to February 17.

The head is super stable: "Man Jiang Hong" and "Wandering Earth 2" both broke 2 billion

The 6.758 billion box office data not only represents the second new record in the history of Spring Festival screening, but also witnessed a real "hundred flowers blossom" in China movies.

Compared with previous years, the 2023 Spring Festival movies are not only significantly genre-oriented, but also more "stable" in market performance. The "Head" blockbusters "Man Jiang Hong" and "Wandering Earth 2" both achieved box office of 2 billion+during the holidays. Excellent quality helped the two works to lead the data fault, but also brought more vitality and topicality to the film market.

Four years ago, the first The Wandering Earth hit the top by opening the first year of China science fiction movies, and the accumulated passers-by helped the sequel easily win the first place in the pre-sale stage. On the first day of its release on New Year’s Day, Wandering Earth 2 also made a strong start, reaching the top of the daily list with 479 million yuan.

Previously, the director, as the representative, had been treading on thin ice whether the audience was still willing to "remain tolerant", and then, with high reputation and high score, Wandering Earth 2 set off discussions on the whole network from the brain-burning plot in the play to the "high-tech equipment" outside the play. Whether it’s the space elevator, digital life, or "China Aerospace Squadron’s over 50-year-old exit", the audience has reason to believe that "Little Broken Ball" really "knocked open" the door of China’s sci-fi film creation in four years.

It consistently ranked second in the box office list, which enabled Wandering Earth 2 to reach nearly 2.2 billion box office on the last day of the holiday. This achievement also surpassed the first The Wandering Earth, helping the film win the sci-fi category champion in the Chinese New Year film history.

"Man Jiang Hong", which was originally followed closely, staged a wonderful and rapid "reversal" without losing the plot on the second day of the New Year’s Day.

The powerful appeal of the "luxury creative lineup" made the film achieve the double overtaking of "Wandering Earth 2" in the next day. And the elements of Tiger Balm comedy, which drove it to successfully realize the "sinking" of the market, made Manjianghong sit firmly at the top of the list for the rest of the holiday. For the audience of the film "Above", there was once a craze for reciting the poem "Man Jiang Hong" and "punching in" Yuewang Temple.

For six consecutive days, the box office exceeded 400 million, and the third and fourth days were significantly "down" for two consecutive days, consolidating and expanding the leading edge of Manjianghong. In the end, the film won more than 2.6 billion box office in the schedule, easily won the 2023 Spring Festival title, and finally predicted that the box office had soared to more than 4.5 billion, which also created the director’s personal best so far.

Multi-film reversal: the best Spring Festival file for genre films to achieve word of mouth

"Stable" is not only the head blockbuster, but also an important factor for the 2023 Spring Festival to achieve a breakthrough in box office performance again.After years of deep cultivation, the series "Bears" has already become the most stable domestic animation IP for the basic disk of the Spring Festival file.

Since the first time in 2017, the box office has exceeded 100 million yuan, and the market share of Xiong Da and Xiong Er has continued to grow during the Spring Festival: after the last year, Cheng Lili ranked fourth in the schedule with 500 million yuan+,this year’s "Bear with You" began to exert its strength from the second day of its release, only behind "Double Heroes", "Man Jiang Hong" and "Wandering Earth 2", firmly occupying the third place in the box office list.

Among them, from the beginning of the fourth day, the film arrangement of "Bears with Me" Bear Core "successfully" reversed "for three consecutive days, which also won more box office for the film.

In 2022, it finally ended with 977 million yuan, creating the highest box office of the series. In 2023, during the Spring Festival alone, "Bears with Me" Bear Core "has already won 747 million yuan, and it is only a matter of time before it leads the series to break through the 1 billion mark. So far, the IP series box office has broken the 5 billion mark.

In this 2023 Spring Festival file, which is phenomenal in data, genre and topicality, other films on the list also have impressive performances.

"Reverse decline" has become the most frequent keyword in the second half of the Spring Festival.It’s not just "Man Jiang Hong" and "Bears Come and Go" by the head echelon. The film Nameless, which was rated as "having a certain threshold for watching movies" and has a relatively bipolar reputation, achieved a "reverse decline" on the fifth day of the Lunar New Year after being relatively weak in the opening competition.

"Deep Sea" with a large number of "tap water" also achieved a "reverse decline" beyond its box office performance in the second half of the fourth and fifth days.

In the end, the two films ranked fourth and fifth with 493 million and 359 million respectively.

What’s even more surprising is that the diversified types have also made a Spring Festival file with the best reputation in recent years. On the online ticketing platform, the scores of six movies in the Spring Festival file have almost remained above 9 points. Among them, the two "head" works have a good reputation, with the scores of 9.6 and 9.4, which confirms the progress of China’s film in story creation and industrialization, and makes the audience feel the greater possibility brought by the market "letting a hundred flowers blossom".

During the Spring Festival, all the film masters also called for civilized and rational competition in the form of collective initiative to promote the healthy development of the industry. And good works have successfully attracted more than 129 million people to return to the cinema during the Spring Festival to witness the new breakthrough of China movies.

The Spring Festival has made a good start, which gives us reason to look forward to a better 2023. We hope that more excellent films will be released in China in the new year, so that more filmmakers can meet the audience at the cinema!

　　In recent years, with the rapid development of short videos, the network charm index of cities such as Chongqing, Xi ‘an, Chengdu and Hangzhou has soared. Chongqing’s 8D magic interchange, Xi ‘an’s tumbler performance, Xiamen’s seaview subway … … These scenes with their own traffic attract a large number of tourists to spread and share on the Internet. Experts pointed out that behind the hot popularity, how to turn the flow economy into an incremental economy and shape the real urban competitiveness is an important issue for online celebrity cities.

　　"online celebrity punching place" is hot

　　Xiao Zhao, a Beijing girl who is engaged in the clothing industry, is keen on traveling. She and several friends like to "walk away". Before going to a place, she didn’t do much travel strategy. Often, when she arrived at her destination, she went to Tik Tok and other short video platforms to search for popular videos related to the tourist destination, and then happily "punched in" together, or enjoyed the unique natural and cultural landscape, or felt the wonderful historical and cultural customs, or tasted the mouth-watering local specialties. "Taking photos, taking short videos, making friends circle and trembling sound are must-do in travel."

　　In recent years, the rise of social networks has changed many people’s travel habits. Whether it’s a traditional scenic spot or a new landmark, once it has the label of "online celebrity", it will attract tourists to take photos or take videos to "punch in".

　　Recently, People’s Daily People’s Cultural Tourism Research Institute and others published the TOP20 Value Recommendation List of "online celebrity Punching Places" for National Cultural Tourism, recommending high-quality tourism resources from three dimensions: attention, reputation and expert evaluation. The selected 20 "online celebrity Punching Places" have the following characteristics: First, they must have aesthetic feeling to meet the needs of tourists for photography, such as Sakura Avenue, Chaka Salt Lake and Dongji Island; Secondly, it can highlight personality and meet the needs of tourists to show their taste, such as THE BRIDGE covered bridge in Chengdu; In addition, it can provide different tour experiences to satisfy tourists’ sense of freshness and participation, such as Xiamen Seaview Subway and Xi ‘an Yongxingfang "Bowling Wine".

　　“‘ Online celebrity punching place ’ The popularity is largely due to the new media communication methods. " Xu Fengwen, chief planner of the Cultural Tourism Center of Tianjin University Architectural Design and Planning Research Institute, said that people’s demand for the participation and dissemination of online celebrity scenes has changed from the traditional view of the city to the experience of specific city scenes.

　　Nowadays, more and more tourists release short videos to exchange travel strategies and experiences. Insiders pointed out that short video has become an important communication and expression tool, which has mobilized the enthusiasm of tourists to record and discover the charm of the city. The reason is, first of all, because short travel videos are more intuitive, richer, story-telling, entertaining and more impressive to others. In addition, in the short videos taken by tourists, scenic spots and food are often more grounded and can appreciate a city at close range. In addition, friends like to go to the "punch card place", and they also go to make a card and connect with each other in a brand-new way, which is also a new form of social interaction.

　　"Lens" makes online celebrity city.

　　Today, it has become the norm that a "online celebrity punching place" is a city with fire. The White Paper on Beautiful City Index: the Relationship between Short Video and Urban Prosperity published by China Urban Planning and Design Institute shows that the content related to urban travel on short video can not only drain online, but also drive offline "planting grass". More than 80% of Tik Tok users said that they would "punch in" because they like short videos of specific cities, scenic spots and business districts.

　　Under the trend of new media communication, the "punching place in online celebrity", which is favored by young consumers, has great potential in enhancing the popularity of cultural tourism brands. To this end, various localities have launched relevant measures to activate and promote cultural tourism resources. For example, Beijing recently launched the "First Beijing Net Red Punch Site Selection" activity, where the public can participate in recommendation and voting through the Internet to help their own Beijing-style "online celebrity"; Kunming launched the promotion activity of "punching places for cultural tourism" to encourage citizens and tourists to explore new landmarks in the city; Chongqing held the promotion activity of "Sun Culture Sun Scenery" to show the "face value" and "temperament" of "City of Mountains and Waters" with the help of social media platform.

　　Some cities have been re-recognized by young people through emerging media platforms. Among them, short videos have become an important scene to create new business cards for cities, opening up a new possibility for "lens" to create online celebrity cities. For example, since July, 2019, Xi ‘an Datang City Scenic Area has designed two street performance art performances of tumblers according to Xi ‘an city mascots "Tang Bao" and "Tangniu", and soon the performance of "Real Tumbler" Picachen became popular. On Tik Tok, the video under the topic of "Miss Tumbler" has been played 2.77 billion times. In this regard, Nan Chuxin, deputy director of the china society of economic reform Internet and New Economy Professional Committee, said that compared with traditional city landmarks, such tourist scenes are more modern, approachable and cultural, and are favored by the younger generation. This kind of city "punching in" behavior based on characteristic IP not only brings traffic explosion, activates the local tourism economy, but also personifies and rejuvenates the image of scenic spots, which injects new kinetic energy into the cultural tourism industry.

　　However, in reality, there are also some areas that blindly follow the trend. For example, regardless of their own personality and characteristics, they copy and introduce "punch-in" elements such as tumbler performance, glass plank road, sky mirror and light show. "Blindly chasing the real-time effect of the network, being out of position and being surprised, we must pay attention to prevention! In particular, it is necessary to prevent rushing headlong into it, copying it, and mismatching the name. " Jin Yuanpu, director of the Institute of Cultural and Creative Industries of Renmin University of China, said in an interview that every city has its own genes, and it is necessary to shape its unique image and temperament.

　　Fully "realize" the traffic

　　A few days ago, the "Top 100 online celebrity Cities in China Tide Economy 2020" published by a certain platform measured the "online celebrity Degree" of a city from five dimensions: network popularity index, live broadcast index, tide life index, industrial development index and impression index. The top 10 cities in online celebrity are: Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Chengdu, Xi ‘an, Changsha, Nanjing and Chongqing. Experts pointed out that the high popularity of online celebrity city is actually the result of a series of factors, such as urban cultural heritage, economic strength, population size and even scientific and technological progress.

　　"online celebrity city is not only a city that is popular on the Internet. A online celebrity city must form a high-quality development model if it wants to be red for a long time and keep its traffic. " The insiders believe that in the era of "attention economy", how to transform online traffic into the core competitiveness of the city, and finally attract the influx of people and form an industrial agglomeration effect is the ultimate goal of the city to create a "online celebrity label".

　　According to Huang Hancheng, the chief researcher of Zhigu Trend, only when people gather through Internet traffic, such as tourists who spend money or talents who come to settle down, can online celebrity be regarded as a city. The "online celebrity Effect" can’t be underestimated, for example, in recent years, Chongqing’s tourism fever is among the highest, and in 2019 alone, 657 million people visited Chongqing, achieving a total tourism income of 573.4 billion yuan.

　　In this regard, Jin Yuanpu said that in order to turn online traffic into real dividends, supporting facilities and public services should be in place, and more detailed work should be done in all aspects of urban development, especially in the upgrading of tourism. Through the system construction of new technologies, new management and new operations, tourists’ sense of experience, participation and integration will be continuously enhanced.

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!

The growth rate of China market is higher than that of the whole world.

From 2010 to 2020, the market size of China’s pet industry increased from 13.44 billion yuan to 72.73 billion yuan, with a compound annual growth rate of nearly 20%, which is higher than that of the whole world. In 2020, the US pet consumption market accounts for 41.1% of the world, ranking first, and China accounts for 8.1%. The pet raising rate and the annual consumption of a single pet in China are far below the level of developed countries, and there is much room for growth in the future.

Judging from the proportion of pet expenditure in household consumption, in 2014, the difference in the proportion of pet expenditure in household consumption between China and the United States was 3.1 times, and in 2019, the difference dropped to 1.8 times.

1. The average annual compound growth rate of China’s pet industry is nearly 20%, accounting for less than 10% of the global market.

With the development and prosperity of China society, the role of pets is gradually changing — — Cats and dogs are increasingly regarded as indispensable members of the family, rather than simply companion pets. Social media has also promoted pets to become an important part of young people’s lives, and the trend of "raising cats in the cloud" has made owning pets more desirable. Therefore, the pet market has grown rapidly in the past 10 years. In 2020, the pet consumption market in China will be 72.73 billion yuan, up 21.1% year-on-year, and the CAGR will be 18.4% in 10 years.

With the development of economy, the consumption of pets is also increasing. Families in most developed countries regard pets as family members, and the spending on pets is increasing. According to Euromonitor data, in 2020, the global pet market industry scale will be about US$ 138.2 billion, up by 4.4% year-on-year, and the CAGR will be 3.6% in 10 years. Among them, the pet consumption market in China, Japan and the United States accounted for 8.1%, 4.2% and 41.1% of the global market respectively.

2. There is a big gap between China’s pet raising rate and single pet consumption amount and developed countries, and there is huge room for improvement.

In the past decade, the changing population and social structure, as well as the improvement of income and adoption rate, have become the main factors to promote the growth of pet keeping rate in China. Compared with other parts of the world, in 2019, the family pet raising rate in China was only about 17%, far lower than 67% in the United States, 62% in Australia and 44% in the United Kingdom. The pet raising rate in China is far lower than that in developed countries, and there may be several times room for improvement in the future.

Since 2016, the growth rate of China’s single pet consumption has increased year by year, mainly driven by the increase of per capita disposable income and the enhancement of pets’ kinship attributes; In 2020, the annual consumption of a single pet in China will be $59. Compared with other countries, in 2020, the consumption of single pet in Japan and the United States will be $317 and $343, respectively, and the consumption of single pet in China is still lower than that in developed countries.

3. The proportion of pet expenditure in household consumption in China has increased, and the gap with the United States has narrowed.

From 2014 to 2019, the proportion of pet expenditure in household consumption in China increased from 0.16% to 0.29%, and the proportion of pet expenditure in household consumption in the United States in 2019 was 0.52%. In 2014, the difference in the proportion of pet expenditure in household consumption between China and the United States was 3.1 times. In 2019, the difference dropped to 1.8 times.

It can be seen that there is an obvious trend of consumption upgrading in the pet market in China, which accelerates the expansion of the pet market. With the stronger willingness of consumers in China to invest in pets in the future, the pet industry has great development potential.

For more data and analysis, please refer to Forward-looking Industry Research Institute, and at the same time Forward-looking Industry Research Institute provides solutions such as industry, industry declaration, industry investment attraction, IPO fundraising feasibility study and prospectus writing.

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)