Category: Fashion

On the afternoon of the 27th, due to the influence of strong convective clouds, a strong tornado and large hail with a diameter greater than 5 centimeters appeared locally in Guangzhou. On the late night of the 27th, the Guangdong Provincial Meteorological Bureau reported four reasons for the occurrence of this extreme weather.

Around 15:00 on the 27th, a tornado appeared near Liangtian Village, Zhongluotan Town, Baiyun District, Guangzhou City. The Guangdong Provincial Meteorological Bureau organized an expert team to conduct on-site disaster investigation and preliminarily surveyed the impact path of the tornado, which is about 1.7 kilometers long. The maximum impact width is about 280 meters, and the preliminary assessment shows that the tornado intensity is a strong tornado level.

Tornado is a rare local, small-scale, and sudden strong convective weather that occurs under extremely unstable weather conditions. Preliminary analysis by the meteorological department shows that there are four reasons for the occurrence of strong tornadoes and heavy hail in Guangzhou this time:

Firstly, in the past period of time, the warm and humid airflow from the southwest of the South China Sea has continued to strengthen, transporting a large amount of water vapor and energy to Guangzhou. Guangzhou has been in an unstable state of high temperature and humidity for a long time, and a large amount of unstable energy has accumulated near the ground.

Secondly, on the morning of the 27th, the warm and humid air flow in the near surface continued to increase, and multiple meteorological observation stations recorded abnormally high absolute humidity.

Thirdly, during the daytime on the 27th, the low-level jet strengthened, exacerbating the unstable layer structure of “cold above and warm below”.

The fourth is that the mesoscale convergence line on the ground and the passage of high-altitude fluctuations serve as triggering conditions, triggering strong updrafts and causing the mother storm of the tornado to develop strongly.

The Central Meteorological Station continued to issue the rainstorm blue warning at 6:00 on April 28

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Defense Guidelines:

1. The government and relevant departments shall make preparations for rainstorm prevention according to their responsibilities;

2. Schools and kindergartens should take appropriate measures to ensure the safety of students and young children;

3. Drivers should pay attention to road waterlogging and traffic congestion to ensure safety;

4. Inspect the drainage systems of cities, farmland, and fish ponds, and prepare for drainage.

The Central Meteorological Observatory continued to issue a blue warning for severe convective weather at 6:00 am on April 28th

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Defense Guidelines:

1. The government and relevant departments shall prepare for short-term rainstorm, lightning protection and gale prevention according to their responsibilities, and the meteorological department shall prepare for manual hail suppression;

2. Outdoor pedestrians and staff should reduce outdoor activities and stay away from scaffolding, billboards, and other structures;

3. Drive poultry and livestock into covered areas, close doors and windows, and reinforce sheds;

4. Take positive countermeasures such as returning to the port to avoid or bypass navigation for water operations in relevant waters and passing ships, cover construction materials on the construction site, and properly arrange outdoor goods vulnerable to rainstorm, wind and hail;

5. Check the drainage systems of cities, farmland, and fish ponds, prepare for drainage, and prepare for defense against disasters such as flash floods, landslides, and mudslides.

The reporter learned from the People’s Government of Daoli District, Harbin City that at 17:40 on April 27, 2024, during daily inspections, it was discovered that Building 10 in Kang’an Community, consisting of three independent structural buildings, was in danger of tilting as a whole (all residents of the building had been relocated and resettled in August 2022 and are now vacant).

On April 27th local time, according to The Capitol Hill, the National Transportation Safety Board and other federal authorities will investigate a freight train derailment incident. On the afternoon of the 26th, a freight train carrying propane and gasoline derailed and caught fire near the border between Arizona and New Mexico, forcing the closure of a nearby interstate highway. At present, there are no reports of casualties. (CCTV News)

According to the official microblog of the Meteorological Service Center of Guangdong Province, at 7:05 on April 28, there was still heavy rainfall in Meizhou and eastern Guangdong. 14 cities and counties, including Shanwei, Shantou, Jieyang and Chaozhou, were hung with orange rainstorm warning signals. Pay attention to traffic safety when traveling. When encountering deep water, try to bypass the road and never wade.

With the intensive disclosure of the first quarter reports of listed companies, the latest holdings of billions of private equity funds have surfaced. In the first quarter of this year, Gao Yi Asset Management’s Deng Xiaofeng took frequent actions, reducing his holdings in cyclical stocks such as Zijin Mining, Yunlu Group, and Chinalco. There were signals of partial profit taking from these cyclical stocks, and he also made new purchases in Naxin Micro; Feng Liu reduced his holdings in Baofeng Energy and Hikvision, increased his holdings in Longbai Group, and newly entered Ruifeng New Materials.

The 2024 International Consumer Season and Shanghai May 5th Shopping Festival launch event, as well as the National Consumer Goods Trade in Action – Shanghai Station and International Consumer Center City Forum, were held on April 27th at the World Reception Hall located on the North Bund of Shanghai.

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Chen Jining, Secretary of the Shanghai Municipal Party Committee, Wang Wentao, Minister of Commerce, and Shen Haixiong, Deputy Minister of the Central Propaganda Department and Director of the Central Radio and Television Station, attended and jointly launched the 2024 International Consumer Season and the 5th Shanghai May 5th Shopping Festival, as well as the National Consumer Goods Exchange – Shanghai Station event.

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Before the launch of the event, Chen Jining, Wang Wentao, Shen Haixiong and others came to the exhibition area on the first floor of the World Reception Hall, and successively inspected the “must buy and take” commodity displays and CCTV broadcast rooms in Shanghai, Beijing, Guangzhou, Tianjin, Chongqing and other cities, to understand the new scenes, new models and new experiences of the supply of featured products, the renewal of time-honored brands, the building of the “China-Chic” brand and the integration of diversified consumption.

At the event site, representatives of the third batch of Chinese time-honored enterprises recognized by the Ministry of Commerce in conjunction with relevant departments were awarded plaques. Shanghai has released policies for the linkage of business, tourism, cultural and sports exhibitions, as well as action plans to further improve payment convenience and a special action plan to trade in consumer goods. A trailer for the “Shanghai Summer” international consumption season has been broadcasted. Cities such as Shanghai, Hong Kong, Beijing, Guangzhou, Tianjin, and Chongqing showcase exciting and enjoyable consumption scenes and experiences through video connections. Representatives from domestic and foreign enterprises such as Bailian Group, Ele.me, Guangming Group, JD.com, Kaiyun Group, Meituan, Pinduoduo, SAIC Group, Tuhu Yangche, Ctrip, China Eastern Airlines, and China UnionPay joined forces to announce the unique highlights of their respective promotional activities during the festival and introduce the latest measures to actively participate in the construction of Shanghai as an international consumer center city.

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During his keynote speech at the 3rd International Consumer Center City Forum, Wang Wentao pointed out that the cultivation and construction of international consumer center cities have achieved positive results, with a comprehensive improvement in consumer leadership, center driven driving force, and international influence. In 2023, the total social capital of Shanghai, Beijing, Guangzhou, Tianjin, and Chongqing increased by 8.4% year-on-year, with a growth rate 1.2 percentage points higher than the national average. Wang Wentao emphasized that international consumption center cities should better play a demonstrative and leading role, continuously consolidate the positive momentum of consumption rebound, seek driving force from innovation, seek vitality from openness, and promote high-quality cultivation and construction. To promote the exchange of old for new consumer goods and stimulate consumer vitality; Expand service consumption and unleash consumption potential; Adhere to innovation leadership and promote the development of new forms and models of consumption; Promote the benefit of the people and better meet their needs for a better life.

During his keynote speech, Shen Haixiong stated that as the world’s largest comprehensive international media carrier with the largest scale, most business forms, and widest coverage, the headquarters fully utilizes the international communication resources and integrated communication advantages of 80 languages and 192 overseas sites, actively assists in the construction of international consumer center cities and economic and social development, and allows audiences at home and abroad to see that China’s economy is resilient, has great potential, and full of vitality, effectively singing the “Bright Theory of China’s Economy”. In order to further unleash media resources and brand advantages, and support economic development, the headquarters has collaborated with the Ministry of Commerce and local governments for five consecutive years to innovate and carry out activities such as the “National Consumption Promotion Month”, the Beijing Tianjin Hebei Consumption Season, the Guangdong Hong Kong Macao Greater Bay Area Consumption Season, and the Shanghai May 5th Shopping Festival. The headquarters will closely collaborate with all parties to help create a globally friendly, universal, age friendly, all time friendly, and panoramic friendly consumer market environment.

Vice Minister of Commerce Sheng Qiuping presided over the forum. Hua Yuan, member of the Standing Committee of the Shanghai Municipal Party Committee and Deputy Mayor, Sima Hong, Deputy Mayor of Beijing, Li Wenhai, Deputy Mayor of Tianjin, Zhang Guozhi, Deputy Mayor of Chongqing, and Tan Ping, Deputy Mayor of Guangzhou, respectively delivered speeches. Chacha Stepan, Mayor of Bangkok, Thailand, and Nick Smo, Deputy Mayor of Liverpool, UK, delivered speeches via video. Wang Yiming, Vice Chairman of the China Center for International Economic Exchange, and Liu Yuanchun, President of Shanghai University of Finance and Economics, delivered speeches respectively. The forum released the “Report on the Development of China’s Consumer Market” and the “Annual Report on the Cultivation and Construction of International Consumer Center Cities”.

Shanghai leaders Zhao Jiaming, Li Zheng, Zongming, Xiao Guiyu, representatives of Chinese and foreign enterprises and industry associations attended.

As one of the key activities of the “Consumption Promotion Year” of the Ministry of Commerce, the 2024 International Consumption Season will launch new consumption scenarios such as debut, fashion consumption, health consumption, and sports consumption, guiding local organizations to carry out rich and diverse business, tourism, cultural, sports and health integration activities. The 5th Shanghai May 5th Shopping Festival, which will be launched synchronously, will continue until the end of June, focusing on the economy of first launch, brand economy, night economy, live streaming economy, as well as new consumption, service consumption, automobile consumption, and green consumption, and carrying out more than 1000 special activities. The “Shanghai Summer” International Consumption Season is a new brand of urban summer consumption promotion activities created by Shanghai after the “May 5th Shopping Festival”. It will last from the first weekend of July to the second weekend of October, fully leveraging the rich resources of Shanghai’s high-quality cultural tourism and the convergence of high-quality goods and services. Combining with the comprehensive transportation convenience of international aviation hubs, international cruise hub ports, railways, highways, and other facilities, a series of high-quality, high flow, and high-energy concerts, music festivals, cultural performances, cultural and artistic exhibitions, major sports events will be launched, and a series of service measures reflecting Shanghai’s internationalization and quality consumption environment will be jointly introduced with businesses, platforms, hotels, attractions, venues, etc.

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Photography: Chen Zhengbao

On April 27th, the Chengdu Municipal Bureau of Statistics announced that in the first quarter, the city achieved a regional GDP of 551.82 billion yuan, a year-on-year increase of 5.0% based on comparable prices. Looking at industries, the added value of the primary industry was 9.44 billion yuan, an increase of 1.0%; The added value of the secondary industry was 154.88 billion yuan, an increase of 4.3%; The added value of the tertiary industry was 387.50 billion yuan, an increase of 5.3%.

From the perspective of the three industries, both the primary and secondary industries in Chengdu have lower GDP growth rates. Due to the relatively small size of the primary industry, the effect of the secondary industry on GDP growth rate is more pronounced. The secondary industry includes industry and construction, with Chengdu’s industrial growth under pressure in the first quarter.

Statistics show that in the first quarter, the added value of industrial enterprises above designated size in Chengdu increased by 3.9% year-on-year. Compared to the 5% growth rate from January to February, it decreased by 1.1 percentage points, indicating that Chengdu’s industrial production faced significant pressure in March, which may mainly come from its main pillar industries.

Looking at the three major categories of industry, in the first quarter of this year, the added value of mining, manufacturing, electricity, heat, gas, and water production and supply industries increased by 10.3%, 2.2%, and 6.5%, respectively. This indicates weak growth in its manufacturing industry, which has become the main factor dragging down industrial growth.

Although statistical data shows stable contributions from key industries, 26 out of 37 industry categories have achieved positive growth, with the added value of rubber and plastic products, food manufacturing, and oil and gas extraction increasing by 26.1%, 14.9%, and 10.7%, respectively. The production of emerging products has grown rapidly, with the production of new energy vehicles and lithium-ion batteries increasing by 33.1% and 57.3% respectively.

However, in reality, the electronic information industry is one of the main pillar industries of Chengdu’s manufacturing industry. Under the influence of factors such as reduced orders, industrial transfer, and declining international demand, Chengdu’s computer manufacturing and other industries have experienced a significant decline since last year.

According to the Chengdu Statistical Bulletin for 2023, the total output of electronic computers in Chengdu was 52.214 million units, a decrease of 27.5%, and the integrated circuits were 7.86 billion units, a decrease of 12.2%. These have also led to a decrease in its imports and exports. In 2023, Chengdu achieved a total import and export of goods of 748.98 billion yuan, a decrease of 9.7% compared to the previous year.

The Chengdu Bureau of Statistics did not release data on the electronic information industry when releasing economic data for the first quarter. However, from January to February, the electronic information industry in Chengdu only grew by 0.1%. Zeng Junlin, Deputy Director of the Sichuan Provincial Bureau of Statistics, recently released data for the first quarter of Sichuan Province, stating that the added value of Sichuan’s computer, communication, and other electronic equipment manufacturing industry decreased by 2.8% in March.

At the same time, the driving force of Chengdu’s tertiary industry belt is not very strong. In 2023, Chengdu’s secondary industry only grew by 3%, but its GDP grew by 6%, mainly driven by the tertiary industry, which grew by 7.5% in 2023. In the first quarter of this year, the growth rate of Chengdu’s tertiary industry was 5.3%.

If we look at the “three carriages” of investment, consumption, and import and export, the decline in consumption growth rate is relatively significant. In the first quarter of this year, Chengdu achieved a total retail sales of consumer goods of 242.0 billion yuan, a year-on-year increase of 2.7%. According to the location of the operating unit, the retail sales of urban consumer goods reached 231.99 billion yuan, an increase of 2.6%; The retail sales of rural consumer goods reached 10.01 billion yuan, an increase of 5.1%.

The Chengdu Municipal Bureau of Statistics stated that overall, in the first quarter, with the continuous manifestation of various policy effects and the accumulation of positive factors, the city’s economic operation continued to recover and show a positive trend. However, there are still some industries with uneven and insufficient development, and some enterprises face certain difficulties in production and operation. The foundation for economic stability and improvement is not yet solid.

The emerging industries driven by technology are becoming the engine of economic growth in the Guangdong Hong Kong Macao Greater Bay Area.

On April 26th, Deloitte released the “2023 Guangdong Hong Kong Macao Greater Bay Area High tech High Growth Top 40 and Tomorrow’s Star Project Report” (hereinafter referred to as the “Report”), which stated that the average cumulative revenue growth rate of the top 40 companies in the Greater Bay Area in 2023 was 1506% over three years, and the top ten companies on the list had a cumulative revenue growth rate of 4612% over three years, significantly higher than in 2022.

In 2023, the top 40 high-tech enterprises in the Greater Bay Area will focus on the software and Internet industries, which are the top two major industries in terms of proportion. In addition, the life science industry has replaced the popular high-end equipment in 2022 and become the third most popular industry this time, marking the rapid growth and expanding influence of the industry in the technology industry. From the perspective of industry segmentation, pan Internet platform services are the main segmentation fields of the top 40 high-tech enterprises in the Greater Bay Area, followed by emerging segmentation fields such as pan AI software, big data, Internet of Vehicles, commercial software and biological products and technology.

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As for the Greater Bay Area’s Tomorrow Star Enterprises, compared to 2022, the industry distribution of the companies listed in 2023 is more balanced, with hardware and life sciences still ranking in the top two primary industries. Meanwhile, the number of enterprises from the clean technology industry has significantly increased in 2023. The Internet and high-end equipment also made great contributions, accounting for a quarter of the enterprises on the list. In terms of industry segmentation, biological products and technology, new energy and intelligent manufacturing are the main segmentation areas of the Big Bay Area’s Rising Star enterprises, followed by robots, pan Internet platform services and consumer electronics. The trend of digital technology enabled manufacturing continues to highlight.

Zhuhai Diqi Furui Biotechnology Co., Ltd. has entered the list of Tomorrow’s Star Enterprises. Chairman Chen Tianlan told reporters that the company’s products have plans to go abroad and hope to reach the world through the Hong Kong platform. In the future, we plan to establish an overseas sub center or headquarters in Hong Kong to conduct clinical tests locally, synchronize and share data to apply for relevant certifications domestically. On the other hand, after carrying out relevant work in Hong Kong, one can go overseas, such as in Southeast Asia or Europe and America.

Shenzhen Yuanxiang Information Technology Co., Ltd. is the third largest enterprise of Tomorrow’s Star. Co founder Wang Nan stated that Yuanxiang has deep cooperation with many Hong Kong universities and has established an office in Tsim Sha Tsui, Hong Kong. In the future, we are considering attracting more local AI talents and attracting more international AI talents to join the office established in Hong Kong. On the other hand, whether it is VR, metaverse, or something more futuristic, many different companies on the international scale are very willing to try this. There are not many start-up companies in the field where Yuanxiang is located. Consider making Hong Kong the first stop and then think about how to connect or go out to sea.

Deloitte’s Managing Partner in South China, Ou Zhenxing, stated that the Greater Bay Area has numerous leading technology enterprises, a gathering of high-end scientific and technological innovation talents, and strong integration capabilities in the scientific research industry. He also pointed out that the effect of cultivating science and technology innovation enterprises in the Greater Bay Area is significant and ranks among the top 100 global technology clusters, but the uneven development of regional industries or spillover effects on innovation. The “9+2” urban agglomeration in the Greater Bay Area has its own industrial positioning, but there is also healthy competition. He suggested that the local government further strengthen institutional innovation to promote coordinated and integrated development and achieve complementary advantages.

Eurovision also mentioned that over 70% of surveyed companies in the Greater Bay Area have financing plans. When considering expansion and site selection factors, over 60% of surveyed companies believe that market acquisition is the most important factor for enterprise site selection, followed by business environment and operating costs. At present, the economy is full of challenges, and government subsidies, as an important economic policy tool, remain the most anticipated source of financial support for technology enterprises.

At the event, Zhang Manli, Deputy Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region Government, delivered a speech stating that Hong Kong’s future development relies on science and technology innovation, with the goal of making Hong Kong an international innovation and technology center. Over the past six to seven years, the Hong Kong SAR government has invested over HKD 200 billion to construct the entire science and technology innovation ecosystem. To further develop basic scientific research, it is necessary to rely on the transformation of midstream achievements and connect with downstream markets, with downstream commercialization and industrialization. In addition to deepening basic scientific research capabilities, we also need to construct our own technology industry system.

According to Luo Yuanjiang, the managing partner of Deloitte’s High tech and High Growth Project in the Greater Bay Area, as the region becomes an important part of Chinese companies going global and expanding into the international market, Hong Kong can leverage its multiple advantages as an international financial center, trade free port, and cross-border supply chain management center to help mainland enterprises in different fields such as financial services, biotechnology, cross-border e-commerce, consumer electronics, and manufacturing meet financing needs and achieve international development.

When it comes to the challenges of science and technology innovation enterprises going global in the Greater Bay Area, Luo Yuanjiang told reporters that based on the companies he has encountered with a demand for going global, the first point is that they lack understanding of local policies and relevant resources. The second point is that due to geopolitical and other factors, some industries face difficulties in financing for enterprises. Investment institutions or family offices are also facing transformation, seeking good projects and talents, with higher requirements for investment projects and expectations for team investment returns. Finally, for certain industries, expanding international business requires setting up data centers overseas to separate data from domestic and international sources.

On April 27th, the 8th Member Representative Conference of the China Economic and Media Association was held in Beijing. The eighth council was elected, and the heads of 133 member media were elected as council members. Zhao Jian was re elected as the President at the first council meeting of the eighth session. The resolution of the conference stated that we should further strengthen the mainstream public opinion of economic propaganda, identify the entry point for media associations to serve Chinese path to modernization, and serve the country, the society, the masses, and the industry.

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The current general meeting of members reviewed and voted on nine proposals, including the work report of the seventh council, the financial work report of the seventh council, the work report of the supervisory board, the revised draft of the association’s articles of association, the five-year development plan of the association, and the industry professional ethics standards and industry self-discipline convention. A new council and supervisory board were elected.

The first council meeting of the eighth session elected 44 executive directors and 19 council leaders. Du Yuejin, Zhang Shuhong, and Qiu Chengjun were elected as Vice Presidents stationed at the conference, with Wang Hengtao, Wang Hui, Ji Xiaolei, Zhang Jun, Hu Limin, Du Zengliang, Zhu Changxue, Deng Qingxu, Yang Yudong, Yu Wei, Li Botao, Wu Jianfei, Ke Shanbei, Yang Lu, and others serving as Vice Presidents, and Song Minqiang serving as the full-time Secretary General. The new board of supervisors elected Song Bo as the chairman of the board of supervisors.

The council hired Feng He as the chairman of the expert committee, with Mo Xinyuan, Gu Yonghua, Pi Shuyi, Guan Jianwen, Ding Shi, Huang Wenfu, Liu Hong, and Wang Qing as the first batch of senior experts; Liu Canguo is the Honorary Vice President of the 8th Council.

It is understood that the China Economic Media Association is a national and industry social organization voluntarily formed by relevant institutions and individuals engaged in the dissemination and service of economic news and information in China, such as newspapers, radio, television, networks, and new media. It was founded in November 1987 as the China Economic Information Newspaper Association, renamed as the China Economic Newspaper Association in December 2005, and changed to its current name in August 2017. Approved, the seventh council has been in office since then. The association currently has around 400 mainstream economic media and top new media members nationwide, making it the most influential organization in the economic media industry.

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Speech by Wu Jing, member of the Party Group and Secretary of the Secretariat of the All China Journalists Association

Wu Jing, a member of the Party Group and Secretary of the Secretariat of the All China Journalists Association, congratulated the China Economic and Media Association on its smooth transition on behalf of the China Journalists Association. She stated that the Economic Media Association adheres to the correct political direction, upholds the spirit of unity in organizing meetings, continuously strengthens its own construction, serves the country, society, and industry, and contributes to consolidating and strengthening mainstream ideological and public opinion. It is hoped that the new Council will lead all members to improve their political ability, serve the overall situation, adhere to pioneering and innovation, build a “home of economic media” in the new era with high quality, and tell new stories and good stories about Chinese path to modernization under the guidance of Xi Jinping’s cultural ideology.

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Speech by Yu Ping, Deputy Secretary of the Party Committee of the China Federation of Logistics and Purchasing

Yu Ping, Deputy Secretary of the Party Committee of the China Federation of Logistics and Purchasing, represented the Party building work organization authorized by the Central Department of Social Work and attended the entire membership conference. He pointed out that the election of the head of the China Economic and Media Association has received strict review and careful guidance from the Second Bureau of the Ministry of Social Security, laying a solid foundation for the convening of the conference. The 7th Council of the Association has always put political construction in the first place, led the development of the industry with party building, accurately grasped the overall requirements of the Party for news media work in the new era, continuously integrated economic media linkage communication resources, adhered to the position of economic propaganda and public opinion, effectively and effectively promoted the innovative development of the economic media industry. Some traditional brand activities have been consolidated and improved, and some innovative service activities have a significant social impact, strong industry credibility, and high praise from media colleagues. He emphasized that as a social organization in the economic media industry, from a political perspective, the China Economic Media Association undertakes an important task of promoting public opinion on the construction of socialism with Chinese characteristics; From an industry perspective, it plays an important role in organizing members and promoting the development of the economic and media industry. The new council should adhere to the leadership of the Party’s political construction in economic and media work, firmly grasp the Party’s leadership in ideological work, and unify ideological actions with the “Two Foundations”. At a new starting point, the quality of the association’s party building and service level should be continuously improved.

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Zhao Jian, President of the China Economic and Media Association, made a statement on behalf of the 8th Council of Directors

After being re elected as the President of the 8th Council, Zhao Jian stated that the new Council will be guided by the Party’s innovative theory, comprehensively strengthen the Party’s leadership, and adhere to the principle of putting the people first and putting people’s livelihoods first. Combining the development and change of social organizations and the advantages of economic media communication, we focus on the central work of economic construction and the primary task of high-quality development, and accurately serve the construction of Chinese path to modernization. Further consolidate and strengthen the mainstream public opinion position of economic propaganda, and strengthen the construction of a fully media communication system empowered by technology. Service oriented, innovative brand activities, caring for society, serving members, honesty and trustworthiness, autonomy and self-discipline, striving to build a more warm and dignified economic media home.

Feng He, former editor in chief of the Economic Daily and former president of the China Economic Media Association, Zhai Huisheng, former party secretary and executive vice chairman of the All China Journalists Association, and Zhu Huohong, director of the Social Organization Bureau of the Ministry of Civil Affairs, were invited to attend the conference. Nearly 270 member representatives of the association participated in the voting at the general meeting.

(Attached are the names of the leaders and executive directors of the 8th Board of Directors)

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Zhao Jian, Du Yuejin, Zhang Shuhong, Qiu Chengjun, Wang Hengtao, Wang Hui, Ji Xiaolei, Zhang Jun, Hu Limin, Du Zengliang, Zhu Changxue, Deng Qingxu, Yang Yudong, Yu Wei, Li Botao, Wu Jianfei, Ke Shanbei, Yang Lu, Song Minqiang

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Ding Jianming, Wang Kai, Wang Ying, Wang Hui, Wang Hengtao, Wen Zhao, Deng Qingxu, Cong Gang, Zhu Changxue, Qi Jieren, Sun Xiayun, Su Manli, Du Yuejin, Du Zengliang, Li Botao, Yang Yi, Yang Yu, Yang Lu, Yang Yudong, Wu Peng, Wu Jianfei, Qiu Chengjun, Song Minqiang, Zhang Jun, Zhang Yiyong, Zhang Yandong, Zhang Shuhong, Chen Xiaobin, Chen Lina, Hang Min, Ji Xiaolei, Zhou Haicheng, Zhao Jian, Zhao Xiaoqiang, Hu Limin, Ke Shanbei, Hou Dawei, Yuan Ye, Dang Dihuan, Yu Wei, Xiong Yuping, Pan Chuanlong (contact person), Pan Lianzhong, Wei Jiajing

On April 27th, the Beijing Humanoid Robot Innovation Center released the world’s first fully sized humanoid robot, “Tiangong,” which is purely electric driven and can run steadily at a speed of 6 kilometers per hour in the Beijing Economic and Technological Development Zone. This is also its independently developed universal humanoid robot mother platform, which can be open to the industry for use. Tiangong is 163 centimeters tall and weighs 43 kilograms in lightweight; The robot is equipped with multiple visual perception sensors, with a computing power of 550 trillion operations per second, high-precision inertial measurement units (IMUs), and 3D vision sensors. It has solved basic motion control problems and is the best platform for embodied intelligence scene applications and research. In addition, Tiangong is equipped with high-precision six dimensional force sensors to provide precise force feedback.

According to a reporter from State Power Investment Corporation of China, on April 26th, the first tank of concrete pouring (FCD) was successfully completed on the nuclear island of Unit 2 of the Guangdong Lianjiang Nuclear Power Project Phase I, marking the official start of construction for Unit 2 and entering a new stage of comprehensive construction for the Lianjiang Nuclear Power Project Phase I.

State Power Investment Corporation of China is one of the three major nuclear power groups in China. The Lianjiang Nuclear Power Project is the first nuclear power project developed and constructed by State Power Investment Corporation of China in Guangdong, and also the first nuclear power project in China to adopt seawater secondary circulation cooling technology. Among them, the first phase of the project involves the construction of two million kilowatt nuclear power units, each with a rated capacity of 1.25 million kilowatts. The advanced CAP1000 third-generation passive pressurized water reactor nuclear power technology is adopted, and after the two units are completed and put into operation, the annual power generation is about 20 billion kilowatt hours.

The Lianjiang Nuclear Power Project is located in Tianluoling, Cheban Town, Lianjiang City, Zhanjiang City, Guangdong Province. It plans to build six CAP series third-generation nuclear power units with a total installed capacity of 8.62 million kilowatts and a total investment of 130 billion yuan, with an average investment of nearly 21.6 billion yuan per unit. This demonstrates the significant driving effect of nuclear power construction on the economy.

The nuclear power industry is a highly interconnected and long chain industry, involving dozens of upstream and downstream industries. The construction of nuclear power projects not only promotes the improvement of the localization ability of nuclear power equipment manufacturing, but also drives the vigorous development of related industries such as metallurgy, electromechanical, and manufacturing in China.

Nuclear power is highly favored for its clean and environmentally friendly characteristics. Taking the Lianjiang Nuclear Power Project as an example, after the completion of all six units, the annual power generation of the project is about 70.2 billion kilowatt hours, which can reduce the consumption of standard coal by about 2007 million tons per year. The emission reduction effect is equivalent to planting about 148000 hectares of broad-leaved forest.

With the gradual construction of six domestically produced CAP1000 units, the CAP series third-generation nuclear power units are expected to achieve mass construction, further promoting the development of China’s nuclear power industry.

According to the reporter’s understanding, the CAP series third-generation nuclear power units were developed by State Power Investment Corporation of China based on the introduction of Westinghouse’s AP1000 technology. At present, China has built four AP1000 support projects in Sanmen, Zhejiang and Haiyang, Shandong. At this point, China has formed a parallel development pattern of “Hualong 1” and CAP series third-generation nuclear power units. Among them, “Hualong No. 1” was jointly built by CNNC and CGN.

As of the end of 2023, there were a total of 55 nuclear power units in operation in China, with an installed capacity ranking third in the world. In terms of the number of nuclear power units built, China ranks first in the world. The China Nuclear Industry Association predicts that China is expected to surpass the United States in terms of installed nuclear power capacity and become the world’s largest by 2030.

At present, the proportion of nuclear power generation in China is 5%, but according to industry experts, this proportion is expected to increase to around 10% by 2035, which means that nuclear power generation will double in growth. This trend not only demonstrates the important position of nuclear power in China’s energy structure, but also foreshadows the enormous development potential of the nuclear power industry in the future.

It is worth noting that with the rapid development of nuclear power and other atomic energy industries, the industry is strongly calling for the timely introduction of the top-level law related to nuclear laws and regulations – the Atomic Energy Law. This law is regarded as the parent law in this field and is of great significance for regulating industry development and ensuring nuclear energy safety. On April 24th, the 9th meeting of the 14th Standing Committee of the National People’s Congress reviewed the draft Atomic Energy Law of the People’s Republic of China in groups.

Professor Liu Jiu from the School of Humanities and Social Sciences at Harbin Engineering University participated in the research on the draft of the Atomic Energy Law. She told reporters from First Financial that compared to other nuclear related laws and regulations, the scope of the Atomic Energy Law is more extensive. For the development of China’s civil nuclear industry, the promulgation of the Atomic Energy Law is particularly important.

On April 25-28, 2024, the 32nd China (Shenzhen) International Gift, Crafts, Watch and Household Products Exhibition and the 1688 Source Factory Merchant Festival (hereinafter referred to as the “32nd Shenzhen Gift and Home Furnishings Exhibition”) officially opened. Through innovation, the exhibition promotes new quality productivity in the industry and is promoting sustainable development of the gift industry.

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The exhibition covers an exhibition area of up to 260000 square meters, with 13 exhibition halls connecting more than 30 national consumer goods production bases, and over 1 million creative gifts, covering over 30 consumer categories. Over 5500 high-quality suppliers and over 8000 brands participated in the exhibition. At the same time, major gift companies, advertising agencies, public relations companies, terminal groups, enterprises and other B-end buyers, as well as e-commerce platforms, live streaming influencers, and private traffic buyers, gathered at the exhibition. They not only had access to cutting-edge information and business models in the gift industry on site, but also upgraded their supply chain and operational level while acquiring industry explosive products, cost-effective products, and innovative products.

According to Chen Li, Vice President of Lizhan Huabo Exhibition (Shenzhen) Co., Ltd., the organizer of the exhibition, as a large-scale consumer goods exhibition in China, the 32nd Shenzhen Gift and Home Furnishings Exhibition has gathered more than 30 strong factories from domestic and foreign industrial bases. The products cover popular categories such as 3C digital electronics, small household appliances, leather goods and bags, stationery and cultural creativity, home goods, health food, etc., and can meet marketing scenarios such as points and membership gifts, business gifts, employee benefits, enterprise customization, retail product selection, marketing materials, festival gifts, cultural tourism, and event peripherals.

At present, new productive forces with the inherent requirement of promoting high-quality development are accelerating the formation of various industries in China. Chen Li told reporters that in terms of the new quality productivity model in the gift industry, products are transitioning from mass production to personalized customization, production lines are transitioning from labor-intensive to artificial intelligence, technology and research and development innovation are constantly achieving new breakthroughs, and sales channels are undergoing comprehensive transformation around convenience for consumers.

As a flagship exhibition of the gift industry that keeps pace with the times and always promotes innovative development in the industry, the 32nd Shenzhen Gift and Home Furnishing Exhibition places greater emphasis on and highlights the comprehensive innovation of products from technology to design, with a focus on supporting new enterprises, new technologies, new products, and new designs. It is committed to breaking product homogenization, showcasing the constantly emerging innovative products in the industry, maintaining the driving force for upgrading and innovation, and promoting high-quality and sustainable development of the industry.

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This exhibition has newly planned exhibition areas to highlight the strong promotion of new quality productivity, with special theme exhibition areas such as original corridor, cultural and creative corridor, IP authorization platform, “Everything can be Gifted” creative collection, Chinese gift, and excellent design corridor, strengthening the product design value, cultural attributes, and innovative creativity. Chen Li believes that innovation comes from the concept of creating value. As a long-standing exhibition, Shenzhen Gift and Home Furnishings Exhibition always revolves around the real needs of the public for gifts. Currently, many young people are concerned about pet care, healthy lifestyle, and other lifestyles. The exhibition in October this year also planned for this category.

The 32nd Shenzhen Gift and Home Furnishings Exhibition is not only a product display, but also a key platform for practitioners to gain insight into the ecology of the gift industry in China and even internationally. Create a professional and high-quality gift exhibition through vertical subdivision of the gift industry forum activities. The theme of this exhibition forum focuses on forward-looking hot topics such as the digital development of the gift industry, the new ecology of the supply chain, and the new quality and productivity of the gift industry. From “exhibition” to “conference”, we will create a professional high-quality gift exhibition to help enterprises keep up with industry trends, quickly expand and enter gift channels.

The exhibition also pays attention to the continuous development of online models, and the addition of new channels such as e-commerce/live streaming/private domain/group leaders has given businesses more new ways to play. The hosting policy is to hold multiple special events for exhibitors and channel owners in live streaming and private traffic channels, to help them improve their operational capabilities in emerging channels. At the same time, we will collaborate with top live streaming platforms and MCN institutions to invite top influencers, mid-range influencers, and influencers to the exhibition site, carry out characteristic supply and marketing docking activities, help exhibitors connect on-site and expand new channels for buyers, find new additions at the exhibition site, and achieve high exhibition value transformation.

At the same time, with the continuous maturity of exhibition platforms and the rise of the current trend of going abroad, expanding derivative IPs into overseas gift markets has gradually become mature conditions. Chen Li revealed that many exhibitors at this year’s exhibition have expressed their desire to expand their markets overseas. The overseas gift exhibition, which combines the Shenzhen gift and home furnishing exhibition model with local conditions, has also been put on the agenda. In September of this year, the first stop will lead Chinese high-quality enterprises to Indonesia to explore the first international gift and home furnishing exhibition market. In the future, there are plans to land more high-quality gift and home furnishing exhibitions in Southeast Asia, providing new scenes for Chinese brands to go abroad.

China Earthquake Networks Center officially measured that at 02:49 on April 27, a magnitude 5.3 earthquake occurred in the sea area of Hualien County, Taiwan (24.21 degrees north latitude, 121.77 degrees east longitude), with a focal depth of 27 kilometers.

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At 03:13 on April 27, a magnitude 4.0 earthquake occurred in the sea area of Hualien County, Taiwan (24.18 degrees north latitude, 121.73 degrees east longitude), with a focal depth of 25 kilometers.

US core PCE increased by 2.8% in March, exceeding expectations

Technology giant’s strong financial report, Alphabet achieves the best daily increase since 2015

Oil prices have ended two consecutive weeks of decline, with a cumulative increase of 2% this week

As the market weighed the latest inflation data and strong corporate financial reports, the US stock market rose overall on Friday, with the technology sector leading the way, and the Nasdaq achieving its best daily gain since February.

As of the close of the day, the entire US stock market closed higher. The Dow Jones Industrial Average rose 153.86 points, or 0.40%, to close at 38239.66 points; The Nasdaq rose 316.14 points, or 2.03%, to close at 15927.90 points; The S&P 500 index rose 51.54 points, or 1.02%, to close at 5099.96 points.

Popular Chinese concept stocks generally rose, with the Nasdaq China Golden Dragon Index closing 2.45% higher. Xiaopeng Automobile rose 10.73%, NIO rose 8.72%, Ideal Automobile rose 6.69%, JD.com rose 6.12%, Bilibili rose 4.96%, New Oriental rose 4.55%, iQiyi rose 3.53%, and Pinduoduo rose 2.80%.

This week, the Dow Jones Industrial Average has risen 0.7%, the Nasdaq has risen 4.2%, and the S&P 500 has risen 2.7%. Among them, the S&P 500 index and the Nasdaq both achieved their best weekly performance since November last year.

In terms of the bond market, influenced by inflation data, the 10-year US Treasury yield fell by 4 basis points to 4.667%, while the two-year US Treasury yield slightly dropped to 4.987%.

US core PCE increased by 2.8% in March, exceeding expectations

In terms of economic data, according to the latest data released by the US Department of Commerce, the personal consumption expenditure (PCE) price index in the US increased by 0.3% month on month in March, which was consistent with expectations and the previous value was 0.3%; YoY growth of 2.7%, expected value of 2.6%, previous value of 2.5%. After excluding volatile food and energy prices, the core PCE price index in the United States increased by 2.8% year-on-year in March, with an expected value of 2.7% and a previous value of 2.8%; A month on month growth of 0.3% remained unchanged from previous values and expectations. US inflation in March showed almost no signs of easing. In the initial reading of US GDP for the first quarter released this Thursday, inflation in the first quarter also exceeded expectations. The PCE index increased by 3.4%, while the core PCE price index increased by 3.7%.

According to the CME Federal Reserve observation tool, the market expects a 97% probability that the Federal Reserve will remain inactive in May and an 88% probability that interest rates will remain unchanged in June.

In April, the University of Michigan Consumer Confidence Index decreased by 2.2 points to 77.2, slightly lower than market expectations of 77.9. Although the changes were not significant, consumer survey director Joanne Hsu stated that since January, the consumer confidence index has remained stable in a narrow range of 2.5 points, far below the 4.8 points that require statistically significant differences. But while consumers are waiting for the upcoming presidential election, they still show uncertainty about the future economic trajectory. However, there is currently no evidence to suggest that global geopolitical factors are the primary concern for consumers. Consumer inflation expectations for next year have risen from 2.9% to 3.2%, and long-term expectations have risen from 2.8% to 3%.

Technology giant’s strong financial report, Alphabet achieves the best daily increase since 2015

On the company side, boosted by strong financial reports, the stock price of Google’s parent company Alphabet rose by over 10%, marking the best daily increase since July 2015. The company’s first quarter profits and revenue exceeded expectations, and announced its first dividend and a $700 million repurchase plan. The company also stated that revenue increased by 15% year-on-year, which is the fastest growth rate since 2022. Alohabet’s stock price has risen by over 22% so far this year.

Also boosted by strong financial reports, Microsoft’s stock price rose 1.82% to close at $406.32 per share. The company’s performance in the third quarter exceeded expectations, and the Azure business continued to maintain growth momentum.

The stock price of Snap, the parent company of social media platform Snapchat, surged 27.63% to close at $14.55 per share. The company made a profit of 3 cents per share in the first quarter, achieving a revenue of $1.19 billion and a global daily active user base of 422 million, with an average revenue of $2.83 per user, both exceeding expectations. The company’s revenue increased by 21% year-on-year in the first quarter, with advertising revenue of 1.11 billion US dollars. Snap expects its revenue to be between $1.23 billion and $1.26 billion in the second quarter, exceeding analyst expectations; The adjusted EBITDA will be between $15 million and $45 million.

According to the performance released by oil giant Chevron, the company earned $2.93 per share in the first quarter, exceeding expectations and achieving revenue of $48.72 billion, which fell short of market expectations. Part of the reason for the decrease in profits is due to the decline in natural gas prices and the decrease in sales profit margins. Since the beginning of this year, oil prices have risen by over 16%, and gasoline futures prices have risen by 31%, but the impact of the upward trend on profits is limited. Due to oversupply, natural gas prices have fallen by 37% this year. Chevron’s stock price rose slightly by 0.37% to close at $165.89 per share.

According to the results released by ExxonMobil, the company’s earnings per share in the first quarter were $2.06, lower than expected, and achieved revenue of $83.08 billion, exceeding expectations. ExxonMobil’s earnings for the US stock market in the first quarter decreased by 28% year-on-year. The CEO of the company stated that the performance was in line with the company’s plan, and non cash tax and inventory adjustments resulted in lower than expected profits. ExxonMobil fell 2.78% and closed at $117.96 per share.

Mobileye Global, an autonomous driving technology company, fell 5.5% to close at $29.20 per share. Morgan Stanley analysts have downgraded the company’s stock rating from “wait-and-see” to “underweight”, with a target stock price lowered from $26 to $25.

Oil prices have ended two consecutive weeks of decline, with a cumulative increase of 2% this week

In the commodity market, due to inflation data, crude oil futures prices have risen, ending a two-week decline. The WTI crude oil futures for June delivery rose 0.3% to close at $83.85 per barrel. WTI oil prices have accumulated a 2% increase this week. The Brent crude oil futures for June delivery rose 0.6% to close at $89.50 per barrel, with Brent crude oil up a cumulative 2.5% this week.

After hours on April 23rd, Tesla announced its first quarter results, with revenue down 9% year-on-year, the largest year-on-year decline since 2012. However, Musk stated that the company plans to start producing new models before 2025, which has driven Tesla’s post market stock price up more than 12%. Since the beginning of this year, Tesla’s stock price has fallen by more than 40%.

Tesla is facing fierce competition in the global electric vehicle market, and recently the company has comprehensively lowered the prices of electric vehicles and autonomous driving software worldwide to stimulate demand.

In the first quarter of this year, Tesla’s revenue was $21.3 billion, a year-on-year decrease of 9%, which even exceeded the sales decline caused by production interruptions during the pandemic; Net profit decreased significantly by 55% from $2.5 billion a year ago to $1.1 billion; Gross profit decreased by 18%.

Multiple factors have led to a significant decline in Tesla’s profits, mainly due to Tesla’s price reduction in the fierce electric vehicle price war, especially the intensified competition in the Chinese market, which supports Tesla’s sales, resulting in a downward trend in Tesla’s sales. In addition, the Red Sea crisis in the first quarter also affected Tesla’s logistics and led to an increase in operating costs. Musk said that the situation in the second quarter may improve.

Meanwhile, capital expenditure increased by 34% to $2.77 billion. Tesla attributed the increase in expenses to a $1 billion capital expenditure on “artificial intelligence infrastructure.”. Tesla is actively purchasing artificial intelligence chips to train its autonomous driving model.

Earlier this month, Tesla announced a year-on-year decrease of 8.5% in car deliveries in the first quarter. Tesla expects that the sales growth rate in 2024 may be significantly lower than the growth rate in 2023.

However, in order to boost the confidence of the capital market in Tesla, Musk stated during the earnings conference call that the company plans to start producing new models, including cheaper electric vehicles, in early 2025 or even by the end of this year. Previously, it was reported that Tesla had abandoned the development of a low-cost model called the Model 2 and turned to the development of the autonomous taxi Robotaxi.

At the financial report meeting, Tesla presented a screen based on Robotaxi ride services. Musk also stated that Tesla is in negotiations with a major automaker regarding the licensing of its assisted driving system.

To reduce costs, Tesla has launched a large-scale personnel adjustment worldwide this month, which will lay off more than 10% of its employees worldwide. The first financial reporter learned that Tesla’s layoffs in China involve almost all departments, and some departments even have a layoff rate far exceeding 10%.

Musk was asked during the earnings conference call if he plans to leave Tesla, considering that he already owns multiple companies and may be distracted. He did not provide an answer, but stated that he spends most of his time working, even rarely resting on Sunday afternoons, and will strive to ensure Tesla’s sustained growth.

The latest disclosed data shows that Tesla will cut 2688 jobs at its headquarters in Austin, Texas and 3332 jobs in California. According to the filing documents, as of December 2023, the total number of Tesla employees exceeded 140000.

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