月度归档： 2026 年 7 月

Ministry of Natural Resources： The industrial structure is continuously optimized, and the growth rate of emerging marine industries exceeds 10%

　　CCTV News:On September 19th, the Propaganda Department of the CPC Central Committee held a series of press conferences on the theme of "Ten Years in China" to introduce the development and achievements of natural resources in the new era.

　　Zhang Zhanhai, chief engineer of the Ministry of Natural Resources, said that the marine economy is an important embodiment of the country’s comprehensive strength and is closely related to the lives of the broad masses of people, so it is highly valued by the whole society. The General Secretary of the Supreme Leader stressed that the ocean is a strategic place for high-quality development, and it is necessary to speed up the construction of a world-class marine port, a perfect modern marine industrial system, and a green and sustainable marine ecological environment, so as to make contributions to building a maritime power. The Ministry of Natural Resources conscientiously implements the spirit of the important instructions of the Supreme Leader General Secretary on the construction of a maritime power, and promotes the high-quality development of the marine economy with relevant departments and localities, and the development of the marine economy has also achieved new results.

　　First, the overall strength of the marine economy has been continuously improved. From 2012 to 2021, the total value of marine economy increased from 5 trillion yuan to 9 trillion yuan, accounting for about 9% of GDP. The structure of the marine industry is also constantly optimized, especially the growth rate of emerging marine industries exceeds 10%. China is also the largest shipbuilding country in the world, and its status has been further improved. The assembly and construction of offshore engineering equipment has entered the first phalanx in the world, and the scale of offshore ports and the cumulative installed capacity of offshore wind power have both ranked first in the world. The Ministry of Natural Resources, together with relevant departments, issued financial guidance to support the development of marine economy, and the balance of marine economic loans of major banks remained at 600-700 billion yuan.

　　Second, the conservation and intensive use of marine resources has been continuously strengthened. Establish and improve the control system of reclamation pipes and continuously strengthen control. Ensure the landing of major national engineering projects under the premise of strict management and control. Classify the problems left over from history and speed up the revitalization of the stock of reclamation. From 2018 to the first half of this year, a total of 418 projects were implemented, with an area of 8,678 hectares, involving an investment of about 900 billion yuan. In addition, strengthen the management of coastline protection and utilization, and urge and guide local governments to implement the coastline retention rate index. Improve the paid use system of uninhabited islands in the sea area and improve the utilization efficiency of marine resources.

　　Third, positive progress has been made in marine ecological protection and restoration. Initially establish a marine ecological early warning and monitoring system, and implement a special action plan for mangrove protection and restoration and a marine ecological protection and restoration project. There are 145 marine nature reserves in China, covering an area of 7.91 million hectares, and 143 projects including the protection and restoration of the blue bay and coastal zone have been implemented, with 1,500 kilometers of coastline, 30,000 hectares of coastal wetlands and 72 kilometers of seawall ecological construction.

　　Fourth, the progress and innovation of marine science and technology have been further accelerated. The number of ocean satellites in orbit in China has reached 10, and the constellation of ocean satellites has been formally established. The marine exploration and transportation operations represented by the submersible "Jilong" and "Struggle" have achieved a qualitative leap. The icebreaker "Xuelong 2" has filled the gap in the field of major equipment for polar exploration in China, which is also the first polar icebreaker independently built by our country. The self-developed megawatt tidal current generator set has maintained its leading position in the world in continuous operation time.

　　In the next step, under the guidance of Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era, we will implement the new development concept completely, accurately and comprehensively, constantly improve the marine resources protection and development system, build a marine ecological security barrier, promote the high-quality development of the marine economy, and make new contributions to building a maritime power.

＂I have a date with zombies＂ sequel hot shot Bosco Wong Wu Qianyu returns.


1905 movie network news Previously, the urban classic fantasy masterpiece "I have a date with zombies" series IP returned after 24 years, and announced that it would shoot a movie version, which triggered a heated discussion among the audience. As a sequel to the series "Frozen Contract", the film "Ma Xiaoling, the Exorcist Dragon" has been launched recently and is currently under intense shooting. The film is directed and scripted by actors, actors and actresses. The classic "stiff contract" IP reloaded and returned, and the evil spirits were eliminated and the exorcism was continued!

The original screenwriter Chen Shisan returned to the array with a "stiff contract" IP to awaken memories of youth.


The movie Ma Xiaoling, the Exorcist Dragon, mainly tells the story of Ma Xiaoling, the 41st descendant of the Exorcist Dragon, and Kuang Tianyou, Nightcrawler, joining hands to fight against the alien intruders. As a descendant of the family, Ma Xiaoling shoulders the family mission of eliminating evil and punishing evil; Kuang Tianyou, a private detective, has repeatedly solved mysterious cases with his unique ability and youthful appearance, but in fact he has been hiding his "Nightcrawler" identity with thirst for blood after gene mutation. The originally peaceful days were broken by a "shadow", and the two met in the investigation of a shadow attack. At the moment of risking their lives, it seems that the lock of fate forged by a century-old feud has been quietly unlocked … …


As the highest-rated drama of ATV, the drama version "Frozen Contract" is the Bai Yueguang in the eyes of countless viewers, and it has won the love of countless netizens, especially the familiar mantra that "those who are in a war are all in front, killing evil" has become a youthful memory of many people. The story about the exorcism of Ma Xiaoling, a female celestial master, is timeless and charming. This time, Chen Shisan, the original screenwriter, returned with a classic sequel, and said in an interview: "This time, I chose to shoot a film version, which attracted the attention of many fans and netizens. I can’t disclose too much about the casting and plot content, but I will try my best to meet everyone’s expectations." The return of Chen Shisan, the original screenwriter, can be described as a shot in the arm for the original fans. I hope that the film Ma Xiaoling, the exorcist dragon, as a sequel, can continue the classics and live up to its expectations.



The original class created a town to create a boutique, and the new exorcism group attracted expectations.


Previously, the film exposed the concept poster and officially announced the cast. The film is starring actors Bosco Wong, Wu Qianyu and Jie Cai, and starring actors Wu Qiyang, Xie Xuexin, Huang Wenhui, Huang Zile, Zhu Baikang and Guo Boyan. In the film, Kuang Tianyou will be played by Bosco Wong, who is one of the most popular actors in TVB. He has left classic roles in many works such as Sneak Sniper, My Savage Grandma and Protecting Flowers. Ma Xiaoling, the heroine, is challenged by Wu Qianyu, who has super long legs. Chen Shisan, who is also a screenwriter and director, also said in an interview: "I am confident in choosing Wu Qianyu to play the film version of Ma Xiaoling because she is very close to the role"; Wang Zhenzhen, Ma Xiaoling’s best friend, is played by the sweet and salty TVB actress Jie Cai, whose "Forensic Pioneer 5" is currently being broadcasted and has a high popularity. The trio formed a brand-new exorcism group, which can’t help but make people expect what kind of evil stories they will bring.


As for whether the original Ma Xiaoling player will return, the director said that he can’t reveal too much now, but everyone can look forward to it. In those days, Ma Xiaoling, the drama version, with her 42-inch long legs and youthful and fashionable dress, subverted the stereotype image of exorcists in Hong Kong film and television dramas and gained a large number of fans. If Joey Meng Yee Man can really return, it will be a big surprise for the audience.


In terms of the creative team, the film will be created by the original class of the "Dead Contract" series. Known as a "ghost writer", Chen Shisan created his own "frozen universe" with his imaginative power and solid writing skills. His series "I have a date with zombies" as a screenwriter has become a generation of classic plays. This time, as a screenwriter and director, he deeply participated in the whole process of script creation and shooting, and filled the expectations of netizens. Jonathon, who once worked as a music composer in Frozen Contract, will also return and continue to work as a music composer for the film. He has also created music for many popular film and television works, such as Jingwumen, Zombie Taoist, etc. The film’s photography director is called the "Royal 3D Photographer". His representative works include "Mermaid", "Mermaid" and so on. His unique photography style has profoundly conveyed the charm of the film and won many praises. This time, the gold medal creator will join hands again in the film version, and I believe that it will definitely contribute a high-quality masterpiece to the audience.


The movie Ma Xiaoling, the Exorcist Dragon, is being shot. I look forward to seeing the audience as soon as possible as this sincere sequel to Frozen Contract!


Britain and Europe kick each other’s balls, and the ＂Brexit＂ negotiations are deadlocked again (international perspective)

　　The deadlock in the "Brexit" negotiations has cast a shadow of uncertainty on the British economy. The picture shows pedestrians passing Big Ben, a landmark building in London.

　　Core reading

　　On October 12, the fifth round of "Brexit" negotiations between Britain and the European Union came to an end in Brussels, and the negotiations ended without results and reached a deadlock. Seven months after the start of the "Brexit" negotiation process, Britain and Europe still have not reached a consensus on the key issues in the first stage, such as the protection of citizens’ rights and interests, the list of expenses, and the border arrangement. The stagnation of the negotiation process has cast a shadow over the British economy, and at the same time, the negotiation ability and leadership of British Prime Minister David Theresa May have been questioned, which in turn has brought greater uncertainty to the prospect of "Brexit" negotiations.

　　The two sides are caught in the first stage of negotiations, "no agreement ‘ Brexit ’ " Speculation worries all parties.

　　Michelle Banier, the chief representative of the European Commission’s "Brexit" negotiations, said at a press conference on the 12th that the negotiations were in a "worrying deadlock". He said, "The fifth round of negotiations this week clarified some key points in a constructive spirit, but it did not take a big step forward." Banier once again stressed that the EU will not make concessions in the negotiations on civil rights, Irish borders and expenses.

　　David, the chief representative of Britain, said that this week, the two sides of the negotiations have enhanced the common goal consensus, but "there is still a lot of work to be done." Davis once again put pressure on the EU to start the second phase of trade negotiations, saying that "in order to provide certainty, we must talk about the future". However, the EU insists that the current negotiation results are not enough to start the second stage of trade negotiations.

　　According to the original plan of the negotiations, the EU summit on October 19-20 will exchange views on whether to enter the second stage of the "Brexit" negotiations. However, it seems very difficult to start the second stage at present. Juncker, president of the European Commission, also said that it is very difficult for the negotiations to enter the second stage. At present, the two sides are still in the "wrangling" of the first stage of negotiations.

　　Speaking in Parliament on October 9th, British Prime Minister Theresa May said, "We expect the negotiations to enter the next stage, but the ball is in the EU’s side", implying that we expect the EU to make concessions and take the first step to break the deadlock. This speech triggered a rebound in the European Union, and Margaritis Skinas, the chief spokesman of the European Commission, said, "There is obviously a sequence of negotiation topics, the first stage — — That is ‘ Brexit ’ The procedural problems have not yet achieved results, so the ball is entirely on the British side. Britain must take action to promote the rest of the steps. "

　　Theresa May said that Britain needs to be prepared for the final failure of the Brexit negotiations, and revealed that the British government has already started relevant preparatory work. This remark sparked heated public opinion, speculating whether the British government has begun to move toward "no agreement ‘ Brexit ’ " Move in the direction. In response, European Council President Tusk responded that the EU will not be "no agreement ‘ Brexit ’ " Get ready. Tusk once warned, "No agreement ‘ Brexit ’ " The result will be a lose-lose, and Britain will bear the brunt.

　　Once there is no agreement, the existing convenience arrangements between Britain and the European Union in terms of trade, personnel and tariffs will expire in March 2019, which will undoubtedly have a huge impact on Britain’s trade, personnel flow, services, especially the financial industry. Philip hammond, the British Chancellor of the Exchequer, said, "No agreement ‘ Brexit ’ " The plan is not supported. He said that Britain should only consider "no agreement" at the last minute. In his speech on the 11th, Hammond admitted that the current negotiation process has cast a shadow of uncertainty on the British economy.

　　The British Conservative government was accused of poor negotiations, and the Prime Minister faced leadership challenges from within the party.

　　“脱欧”谈判陷入僵局，英国民众对政府处理“脱欧”谈判的信任度已降到历史最低点。根据最新民调，自今年夏天以来，认可政府谈判表现的比例已经从6月的54%下降到本月初的36%。10月4日，在保守党年会上，首相特雷莎·梅在演讲中连续遭遇“抗议者递上‘辞职信’”等意外“插曲”，甚至有约30名下议院议员酝酿发起对特雷莎·梅的不信任议案。

　　眼下，英国保守党政府被指责谈判不力，其削减公共开支的财政紧缩政策屡遭质疑，政府权威也受到挑战。特雷莎·梅在保守党内的领导权面临挑战，这给未来的“脱欧”谈判前景带来更大的不确定性。

　　特雷莎·梅今年6月提前举行大选未能如愿稳固其执政地位，保守党反而失去议会多数党地位，加之在伦敦大火后应对不佳，领导力不断遭受质疑。近几个月来，保守党政府内部，不时有内阁成员在“脱欧”问题上表达不同意见。特别是外交大臣鲍里斯·约翰逊曾两度阐述其“荣誉脱欧”计划，与政府立场有出入，约翰逊与特雷莎·梅的政治对立意味越来越明显。不过，面对来自党内反对者发起的挑战，特雷莎·梅强调，目前英国需要“沉稳的领导力”，她不会辞职，并且能够得到内阁的足够支持。

　　According to the data released by the Organization for Economic Cooperation and Development on October 9, the global economy is expected to maintain a strong growth rate in 2018, but Britain may not be among them. Indicators show that Britain’s economic performance in the first half of this year has slipped to the last among the seven major industrial countries. Experts believe that the devaluation of the pound caused by Brexit, the rising inflation rate and the uncertainty of the relationship between Britain and its major trading partners are the reasons for this phenomenon.

　　A survey report by the British Agriculture and Horticultural Development Agency also believes that the most unfavorable situation of "Brexit" may lead to a decline in farm profits in the UK by half. The report pointed out that the subsidies granted by the European Union under the Common Agricultural Policy are very important to the British agriculture and horticulture industry. At the same time, zero-tariff trade with the EU is also related to the survival of British farms. If these two points are affected by "Brexit", British farms will face a serious blow.

　　(London, October 12 th)

Drug Administration Law Implementation Regulations ＂Overhaul＂： 101 new articles, what changes will pharmaceutical companies welcome？

　　In recent years, with China’s vigorous support and encouragement of drug innovation, how to further implement the Drug Administration Law requires a deeper and more normative legal connection.

　　Recently, the "Regulations on the Implementation of the Drug Administration Law (Revised Draft for Comment)" issued by National Medical Products Administration completed the collection of opinions. This is the first major overhaul since the implementation of this regulation on September 15th, 2002, and it has increased from 80 articles with more than 12,000 words to 181 articles with more than 29,000 words.

　　Song Hualin, a professor at Nankai University Law School and director of the Research Center of Medical and Health Law, said in an interview with CBN that as an administrative regulation of the State Council, the Regulations on the Implementation of the Drug Administration Law constitutes a bridge between the Drug Administration Law, drug regulatory regulations and normative documents. "The revision of the Regulations on the Implementation of the Drug Administration Law will help modernize the drug safety supervision and governance system and governance capacity."

　　Institutional dividends encourage drug innovation.

　　Many insiders believe that this exposure draft encourages drug innovation from many angles, including institutional dividends and industrial promotion.

　　For example, in terms of system bonus, the relevant clauses in the draft for comment include: Article 9 "Encourage innovation", Article 10 "Speed up the listing channel", Article 20 "Change of bidders" and Article 38 "Patent link".

　　Song Hualin said that China has designed four mechanisms to speed up the approval of drug listing, including the conditional approval system introduced in Article 26 of the Drug Administration Law; Priority review and approval procedures stipulated in Article 96 of the Drug Administration Law; Special examination and approval procedures stipulated in Articles 72 and 73 of the Measures for the Administration of Drug Registration; Breakthrough therapeutic drug procedures stipulated in Article 59 of the Measures for the Administration of Drug Registration.

　　"However, as a departmental regulation, the Measures for the Administration of Drug Registration has relatively low hierarchical effectiveness." Song Hualin said that Article 10 of the exposure draft, "Accelerating the listing channel", directly gave a legal basis for breakthrough therapeutic drugs, conditional approval for listing, priority review and approval, and special approval system.

　　Article 20 "Change of the sponsor" proposes that "during the clinical trial of drugs, the change of the sponsor shall be approved by the drug supervision and administration department of the State Council; Re-issue the approval notice of drug clinical trials when necessary. "

　　A person from the drug supervision department who participated in the revision of the exposure draft told the reporter that this gave the pharmaceutical company a great institutional advantage. "For the applicant, if the company’s main body experiences some changes in transfer and merger during the clinical trial of drugs, its bidding subject will have a legal basis for change. This is a system that a considerable number of pharmaceutical companies are more concerned about, and such a change channel was blank before. "

　　Article 38 "Patent Link" is also the highlight, which stipulates that "if there is a dispute over the patent right during the application for drug registration, the parties may bring a lawsuit to the people’s court or apply to the patent administrative department of the State Council for an administrative ruling, and the drug technical review will not be stopped during the period".

　　Lawyer Guo Yafei, a partner of Huiye Law Firm, explained to reporters that this clause strengthened the protection of intellectual property rights of drugs by the system. "On the one hand, it enhanced the original research pharmaceutical companies’ judgment on the certainty of the drug market. On the other hand, it also confirmed the listing risk of generic drugs in advance for generic pharmaceutical companies, avoiding high litigation compensation caused by blind listing, and promoting the high-quality development of generic drugs. In addition, balancing the interests between original pharmaceutical companies and generic pharmaceutical companies through legal means can also maximize the accessibility of drugs and truly let the people use good drugs. "

　　Pharmaceutical companies welcome market changes

　　In terms of industrial promotion, the relevant clauses in the Exposure Draft include: Article 29 "Rare Diseases", Article 39 "Promoting the Development of Generic Drugs" and Article 40 "Data Protection", etc. These clauses are closely related to the strategic planning and commercialization of drugs, which have attracted strong attention from pharmaceutical companies.

　　Article 39 "Promoting the development of generic drugs" mentions that "the first chemical generic drug that successfully challenges the patent and is approved for listing shall be given an exclusive market period. The drug supervision and administration department of the State Council will no longer approve the listing of generic drugs of the same variety within 12 months from the date of approval of the drug, except for those who jointly challenge the patent successfully. ".

　　Guo Yafei said that quite a few pharmaceutical companies still have objections to this. They think that the 12-month exclusive period is still too short and the incentive effect on enterprises is not obvious enough.

　　Guo Yafei analyzed that after the successful patent challenge of the "first imitation drug", pharmaceutical companies still need to go through registration, build factories, set up commercialization teams, and finally realize profits after marketing promotion. This complete cycle far exceeds 12 months. "In the second draft for comments, this exclusive period may be adjusted accordingly."

　　In addition, article 40 "data protection" has also attracted much attention, which mentions that "the state protects the undisclosed test data and other data of some drugs approved for marketing, and no one other than the drug marketing license holder may make improper commercial use of the undisclosed test data and other data".

　　The article also mentions that "within 6 years from the date when the drug marketing license holder obtains the drug registration certificate, if other applicants use the data in the preceding paragraph to apply for the drug marketing license without the consent of the drug marketing license holder, the drug supervision and administration department of the State Council will not grant the license; Except for other applicants who submit their own data. "

　　"At present, pharmaceutical companies are still controversial about the scope of data protection, such as ‘ Undisclosed data ’ How to define it? Is it protected for pharmaceutical companies to use public data for registration? Do you want to start the accountability mechanism when using non-public data for registration? And so on, these issues are not clear in the terms. " The above-mentioned people in the drug supervision department told reporters that the industry still expects the implementation measures for the protection of relevant drug test data to be introduced as soon as possible, which will give pharmaceutical companies more guidance at the operational level.

　　Supervision embodies "tolerance and prudence"

　　Many people in the industry said that this exposure draft strengthened the supervision of the whole process of drug reproduction, management and use.

　　Song Hualin said that in detail, in the supervision of drug production, the requirements for personnel have been strengthened, the management of material management, overseas production and entrusted examination has been strengthened, and the management of Chinese herbal medicine processing and Chinese herbal medicine decoction pieces production has been strengthened; In the supervision of drug business, the classified management system of prescription drugs and over-the-counter drugs and the transportation and distribution system of drugs were clarified, which further standardized the management of drug online sales; In the pharmaceutical affairs management of medical institutions, the framework of sympathetic drug use system and emergency drug use system has been established.

　　As mentioned in Article 83 "Management Obligations of Third-Party Platforms", which Internet medical platforms are concerned about, "third-party platform providers shall not directly participate in drug online sales activities", the share prices of Ali Health and JD Health once fell. However, insiders said that this is actually a change in the form of supervision and management.

　　As an Internet medical platform, the relevant person in charge of Ping An Health also told reporters recently that the company has always focused on the construction of medical service capabilities. In recent years, the proportion of the company’s medical service capabilities has also increased year by year; At the same time, although the company has a business segment layout such as Health Mall, the core of the mall business still focuses on medical services and related resource allocation.

　　In addition, the exposure draft has also made many adjustments in the "legal liability" section, including further supplements and expansions for illegal situations in the previous Drug Administration Law.

　　"For example, the exposure draft supplemented the ‘ Administrative license application agent ’ The legal responsibility, this is because many drugs will be entrusted to CRO (commissioned by R&D service contract) or CDMO (commissioned by production service contract). Before, there has been no responsibility determination for this third party (including disciplinary measures for data fraud), and now it is also stipulated. " Guo Yafei said.

　　On the practical level of supervision, Song Hualin said that the exposure draft has improved the connection with the Administrative Punishment Law and the Administrative Enforcement Law, including clarifying the different situations of heavier punishment, lighter punishment, no punishment and exemption from punishment, as well as the discretion in administrative punishment and the procedures for connecting execution. "This is also the practice of strengthening supervision and management and unifying the scale of supervision and law enforcement."

Trump’s first visit to China to watch many senior officials in the United States： the past methods have been unable to solve the DPRK nuclear issue

　　CCTV News:From November 8 to 10, US President Trump paid a state visit to China. This is Trump’s first visit to China since he took office as President of the United States at the beginning of this year, and it is also the first state visit received by China after the successful conclusion of the 19th National Congress of the Communist Party of China. As another major event in the development of Sino-US relations, this visit has attracted the attention of all parties. This visit can be regarded as the result of the positive interaction between China and the United States’ policies and diplomacy over a period of time, which will have an important impact on the future direction of Sino-US relations.

　　Play the role of top-level design for building a new type of Sino-US relations

　　The meeting between the heads of state of China and the United States will play a positive role in promoting the construction of a new type of Sino-US relations. In the report of the 19th National Congress, General Secretary of the Supreme Leader proposed that China should build a new type of international relations.

　　

Su Xiaohui, Deputy Director of the Institute of International Strategy, China Institute of International Studies (video screenshot)

　　When talking about Trump’s visit to China, Su Xiaohui, deputy director of the Institute of International Strategy of China Institute of International Studies, said that through face-to-face and in-depth exchanges between leaders, this visit will set the tone for the next stage of Sino-US relations. In addition, such a visit will also promote the friendship between the two countries, including the friendship between the leaders of the two countries.　

　　When talking about this visit, Diao Daming, an associate professor at the School of International Studies at Renmin University of China, said that the foothold of new international relations in Sino-US relations is to build a new type of Sino-US relations, which requires both sides to inject strong impetus into the steady development of Sino-US relations on the premise of conforming to the principles of non-conflict, non-confrontation, mutual respect and win-win cooperation. I believe Trump’s visit to China will play a top-level design role in building a new type of Sino-US relations.

　　Resolving economic and trade contradictions requires the joint efforts of both sides to do "addition"

　　In the agenda of Trump’s visit to China, Sino-US economic and trade issues have also attracted the attention of all parties. After Trump took office, economic and trade issues once became a "hot spot" in bilateral relations, and the American media kept speculating about the so-called "unbalanced" and "unequal" bilateral economic and trade relations, which caused certain pressure on both governments.

　　Regarding how to solve the trade imbalance between China and the United States, China’s ambassador to the United States, Cui Tiankai, said in an interview with the media that if the United States can relax the restrictions on the export of high-tech civilian products to China, it will greatly increase American exports to China and help solve the trade imbalance between China and the United States from a long-term perspective.

　　China and the United States are each other’s most important trading partners. Only when the two countries work together to "add" can we further promote the development of Sino-US economic and trade relations.

　　Chen Jianqi, deputy director of the World Economic Office of the Institute of International Strategy of the Party School of the Central Committee of the Communist Party of China, said in an interview with the media that Trump has repeatedly expressed concern about the bilateral economic and trade imbalance between China and the United States, but from a practical point of view, China is not the core factor causing the US trade deficit, and China and the United States have gradually reached a consensus on this. The economic and trade imbalance between China and the United States cannot be solved through trade wars, and only by deepening Sino-US cooperation through dialogue can the related problems be better alleviated. Since the beginning of this year, China has taken measures such as increasing American beef imports. In the future, the United States can further expand the export of high-tech products to China to alleviate the external imbalance. China and the United States have many options to solve external imbalances, and Sino-US cooperation will help achieve the goal of more balanced and healthy development.

　　North Korea’s nuclear issue attracts attention that "the past methods can no longer solve the present problems"

　　The DPRK nuclear issue is also the focus of Trump’s visit. How to properly resolve the DPRK nuclear issue is the key condition for the continued development of Sino-US relations. On the DPRK nuclear issue, China and the United States have maintained close communication and coordination at all levels, and the two heads of state have also discussed this issue many times. Trump’s visit believes that the heads of state of China and the United States will further communicate on this issue.

　

　　US Presidential National Security Assistant McMaster (video screenshot)

　　After Trump took office, he listed the DPRK nuclear issue as the main security concern and adopted a tough attitude towards North Korea. In an exclusive interview with CCTV reporters, McMaster, national security assistant to the President of the United States, said that he thought everyone felt that there was not much time left. Because North Korea’s missile and nuclear tests have reached a special stage. At this stage, the past methods, such as both sides suspending or freezing their respective projects, can no longer solve the current problems.

　　However, blind sanctions are not an end and are not conducive to the resolution of the DPRK nuclear issue. Zheng Zeguang, Vice Foreign Minister of China, said that China and the United States have maintained close communication and coordination at all levels on the DPRK nuclear issue, and the two heads of state have also discussed this issue many times. "We will continue to maintain communication and coordination with the United States on the peninsula issue, and at the same time, we have consistently and resolutely opposed the deployment of the United States in South Korea ‘ Sade ’ The anti-missile system. "

　　Regarding the North Korean nuclear issue and the development of the situation on the peninsula, Su Xiaohui, deputy director of the Institute of International Strategy of the China Institute of International Studies, believes that face-to-face exchanges between the two sides will lay a foundation for how the two great powers can jointly handle such a problem. This does not mean that there are no problems, differences or contradictions between the two countries, but that the two countries respect each other and are willing to listen to each other’s voices. Although the United States is the largest economy in the world, it has no ability to deal with all the problems and difficulties alone. Therefore, it conducts benign exchanges with China, based on mutual respect and guided by fairness and justice, and finally achieves win-win cooperation.

The relevant person in charge of the CSRC answered the reporter’s question on activating the capital market and boosting investor confidence.

　　CCTV News:On July 24th, Politburo meeting of the Chinese Communist Party made important arrangements for capital market work, and clearly stated that "the capital market should be activated to boost investor confidence". Recently, the relevant person in charge of the CSRC accepted an interview with the media on the implementation.

　　1. What consideration does the CSRC have for the implementation of this decision? What policy measures will be taken next?

　　A: This time, Politburo meeting of the Chinese Communist Party emphasized "to enliven the capital market and boost investors’ confidence", which is the new deployment and new requirements of the CPC Central Committee for capital market work, and fully reflects the great attention and ardent expectations of the CPC Central Committee for the capital market, and the important significance of stabilizing capital market expectations for maintaining overall economic and social stability. The CSRC thoroughly studied and implemented the spirit of Politburo meeting of the Chinese Communist Party, conscientiously implemented the arrangements of the the State Council executive meeting and the the State Council plenary meeting, set up a special working group, formulated a work plan on the basis of brainstorming, and determined a package of policies and measures to invigorate the capital market and boost investors’ confidence.

　　The general idea is to take Socialism with Chinese characteristics Thought of the Supreme Leader in the new era as the guide, adhere to the general tone of striving for progress while maintaining stability, adhere to the system concept, adhere to the problem orientation, adhere to the direction of marketization and rule of law, focus on the main line of building a modern capital market with China characteristics, make comprehensive policies and make concerted efforts to give full play to the functions of resource allocation, price discovery and risk management, continuously optimize the market ecology, effectively enhance the market vitality, efficiency and attractiveness, and maintain a stable and good development trend of the capital market.

　　Grasp several principles in the work: First, treat both the symptoms and the root causes. Based on the present situation, we will speed up the launch of a number of practical and effective policy measures to stabilize expectations and boost confidence, and focus on the long-term, adhere to reform and open the way, make overall plans for the development of the stock, bond and futures markets, and improve the basic system of the capital market. The second is to highlight key points. Emancipate the mind, identify the starting point, and strive to make breakthroughs in introducing flowing water from the source, reducing transaction costs, and improving transaction smoothness. The third is to stabilize the word. Grasp the relationship between stability and vitality, coordinate the work of living the market, stabilizing expectations and keeping the bottom line, and insist on improving market activity on the premise of maintaining overall market stability. The fourth is to exert synergy. Strengthen cross-ministerial communication and policy coordination, and work in the same direction to form a strong synergy to activate the market and boost confidence. The main measures include the following aspects:

　　First, accelerate the reform of the investment side and vigorously develop equity funds. Accelerate the formulation of the action plan for the reform of the investment side of the capital market, and make systematic arrangements from the aspects of promoting the high-quality development of Public Offering of Fund industries, continuously optimizing the market investment ecology, and increasing the introduction of medium and long-term funds. Vigorously developing equity funds is an important part of the investment-side reform. The key measures include: First, relaxing the registration conditions of index funds, improving the development efficiency of index funds, and encouraging fund managers to increase product innovation. The second is to promote the comprehensive implementation of Public Offering of Fund’s rate reform and lower the management rate level. The third is to guide Head Public Offering of Fund Company to increase the issuance ratio of equity funds, so as to promote the total amount of Public Offering of Fund and optimize its structure. The fourth is to guide Public Offering of Fund managers to increase their efforts to purchase their own equity funds. Fifth, establish the incentive and restraint mechanism of "counter-cyclical layout" of managers in Public Offering of Fund to reduce pro-cyclical resonance. Sixth, broaden the investment scope and strategy of Public Offering of Fund, and relax the investment restrictions on Public Offering of Fund’s investment in stock index options, stock index futures, treasury bonds futures and other varieties.

　　The formula of the spirit Lord ascended the skyPractical measures will also be introduced in cases and further promoting the normal issuance of REITs.

　　Third, optimize and improve the trading mechanism to enhance the convenience of trading. At present, it has been announced to reduce the proportion of settlement reserve, reduce the number of stock funds to declare, study the introduction of ETF into the after-hours fixed-price trading mechanism, and introduce the inquiry transfer and placement reduction system of GEM. The next step will be to introduce the following measures: first, reduce the handling fee of securities transactions and simultaneously reduce the commission rate of securities companies. The second is to further expand the scope of margin financing and securities lending targets, reduce the margin financing and securities lending rates, and include ETFs in the refinancing targets. The third is to improve the share reduction system, strengthen the supervision of illegal reduction and "detour" reduction, and severely punish illegal reduction. The fourth is to optimize transaction supervision, enhance transaction convenience and smoothness, and enhance the transparency of transaction supervision. Timely launch a programmed transaction reporting system. Fifth, study the appropriate extension of the trading hours in the A-share market and the exchange bond market to better meet the needs of investment transactions.

　　Fourth, stimulate the vitality of market institutions and promote the high-quality development of the industry. First, adhere to the direction of intensive, differentiated, functional and international development, and build high-quality investment banks. Optimize the calculation standards of risk control indicators of securities companies, appropriately relax the capital constraints on high-quality securities companies, and improve the efficiency of capital use. The second is to implement counter-cyclical adjustment of margin financing and securities lending, and study the appropriate reduction of margin ratio of on-site financing business under the premise of overall controllable leverage risk. Third, research and launch a series of financial futures options such as SZSE 100 stock index futures options and CSI 1000ETF options to better meet the risk management needs of investors. Allow more domestic and foreign investment institutions to use derivatives to manage risks under the premise of prudence. The fourth is to implement differentiated regulatory policies, simplify the registration and filing of high-quality private equity venture capital funds, and further promote the pilot of physical distribution of shares by private equity venture capital funds. Fifth, vigorously develop China’s characteristic index system and indexed investment, and encourage all kinds of funds to enter the market through indexed investment.

　　5. Support the development of the Hong Kong market and make overall plans to enhance the activity of A shares and Hong Kong stocks. At present, it has been announced to introduce a block trading mechanism in Shanghai-Shenzhen-Hong Kong Stock Connect. In the next step, practical measures will be further introduced to stimulate the vitality of the Hong Kong market and promote the coordinated development of the mainland and Hong Kong markets. First, continue to optimize the interconnection mechanism, further expand the scope of interconnection targets, and add RMB stock trading counters in Hong Kong Stock Connect. The second is to launch treasury bonds futures and related A-share index options in Hong Kong. The third is to support the dual listing of stocks listed in the United States in Hong Kong.

　　Sixth, strengthen inter-ministerial coordination and form an active capital market synergy. Activating the capital market and boosting investors’ confidence is a systematic project, involving all aspects of work, which requires a set of "combination boxing" to form a joint policy force. Especially in the medium and long-term capital market, capital market tax policy, etc., it needs the coordinated support of relevant ministries and commissions. Recently, we have increased inter-ministerial communication and coordination, and made great efforts to study and promote some important measures. For example, promote the optimization of listed companies’ equity incentive personal income tax payment time and other capital market-related tax arrangements; Promote the establishment and improvement of a long-term assessment mechanism for equity investment such as insurance funds, and promote its efforts to increase equity investment; Guide and support bank wealth management funds to actively enter the market; Support more investors such as banking institutions to fully participate in the exchange bond market, and so on.

　　What needs to be emphasized is that activating the capital market, boosting investors’ confidence, and striving for progress while maintaining stability are complementary and internally unified. Without a relatively stable market environment, it is impossible to activate the market and boost confidence. We will do a good job in activating the market, preventing risks and strengthening supervision. We will work with relevant parties to prevent and handle risks in key areas such as urban investment bonds and real estate, resolutely maintain the stable operation of the market, stick to the main business of supervision, increase the intensity of anti-counterfeiting and counterfeiting in the capital market, and severely and promptly investigate and deal with typical illegal cases such as fraudulent issuance, financial fraud, market manipulation and insider trading, so as to provide investors with real and transparent listed companies and consolidate long-term investment confidence.

　　2. Incremental capital inflow is the key to active market. What are the considerations and specific measures for introducing more medium and long-term funds?

　　A: In recent years, social security funds, insurance funds, annuity funds and other medium-and long-term funds have adhered to market-oriented and professional operations, maintaining a net inflow as a whole, and achieving a benign interaction with the capital market while maintaining and increasing value. But overall, the shortage of medium and long-term funds is still a prominent problem that restricts the healthy development of the capital market. At present, the proportion of medium and long-term capital holding shares is less than 6%, far below the level of more than 20% in mature overseas markets. With the strong support of relevant parties, we are studying and formulating a reform plan for the investment side of the capital market. In introducing more medium and long-term funds, the key point is to create a policy environment conducive to medium and long-term funds entering the market. Specific measures: First, support the national social security fund, basic endowment insurance fund and annuity fund to expand the investment scope of the capital market; Second, study and improve the rules for identifying strategic investors, and support medium and long-term funds such as the National Social Security Fund to participate in the non-public offering of listed companies; The third is to formulate rules for institutional investors to participate in the governance of listed companies and give play to the binding role of professional buyers; The fourth is to optimize the supervision of investment transactions, study and optimize the application of laws and regulations such as large shareholding information disclosure, short-term trading, and reduction restrictions to facilitate the investment operation management of professional institutions; Fifth, enrich the financial derivative investment tools inside and outside the market, optimize the restrictions on the use of derivatives by various institutional investors, and improve the efficiency of risk management; Sixth, enrich the personal pension product system, and include equity products such as index funds into the scope of investment choices.

　　At the same time, we will strengthen cross-ministerial communication and coordination, increase the introduction of various medium and long-term funds, and increase the proportion of equity investment. Including: promoting the improvement of the investment management system of the national social security fund and the basic old-age insurance fund, and further promoting the market-oriented investment operation level of the annuity fund; Promote research and optimization of accounting treatment of equity investment of insurance funds, promote the pilot project of long-term stock investment of insurance funds, and gradually expand the scope and scale of the pilot project; Promote the accelerated expansion of the personal pension system to the whole country and expand the coverage of the system; Support bank wealth management funds to improve the ability of equity investment; Actively promote all kinds of medium and long-term funds to establish long-term investment performance orientation, comprehensively establish a long-term assessment mechanism for more than three years, and enhance the stability of investment behavior.

　　3. At the 14th Lujiazui Forum, President Yi Huiman said that policies and measures to further support the self-reliance and self-reliance of high-level science and technology in the capital market will be introduced in due course. What is the progress in this regard and what specific measures are there?

　　A: Since the beginning of this year, on the basis of in-depth research and extensive listening to opinions and suggestions, the CSRC has accelerated the research and demonstration of a package of policy measures to further support scientific and technological innovation, and relevant documents will be issued in due course. The general idea is to improve the support mechanism of capital market for scientific and technological innovation, guide resources to gather in the field of scientific and technological innovation, stimulate the vitality of market scientific and technological innovation, boost scientific and technological enterprises to become better and stronger, and smooth the virtuous circle of "science and technology-industry-finance".

　　Main policy measures: First, establish a "green channel" for listing financing, bond issuance, mergers and acquisitions of technology-based enterprises that break through key core technologies, improve the efficiency of audit and registration, and increase the supply of high-quality listed companies. Second, continue to improve the equity incentive system and mechanism of science and technology enterprises, optimize the implementation procedures, exempt short-term transactions, and help science and technology enterprises attract stable talents. Third, optimize the financing environment of technology-based listed companies, actively study more types and ways of financing to meet the needs of technology-based enterprises, and study and establish the science and technology innovation board and Growth Enterprise Market shelf distribution system. The fourth is to appropriately improve the inclusiveness of restructuring and valuation of light-asset technology-based enterprises, and support technology-based enterprises to comprehensively use various payment tools to implement restructuring. Fifth, strengthen the bond market’s accurate support for scientific and technological innovation, focus on supporting corporate bond financing of high-tech and strategic emerging industries, incorporate high-quality corporate science and technology bonds into benchmark market-making varieties, and support new infrastructure and scientific and technological innovation industrial parks to issue REITs in the field of scientific and technological innovation. In addition, actively support the development of private equity venture capital funds, implement differentiated regulatory policies, simplify the registration and filing of high-quality private equity venture capital funds, and guide venture capital funds to invest more in scientific and technological innovation.

　　4. Recently, the market has paid more attention to the IPO rhythm, and it is also rumored that refinancing will be suspended. What does the CSRC think?

　　A: To realize the sustainable development of the capital market, we need to fully consider the dynamic and positive balance between the two ends of investment and financing. Without the steady operation of the secondary market, the financing function of the primary market will be difficult to play effectively. We always adhere to the scientific and reasonable normalization of IPO and refinancing, and at the same time fully consider the affordability of the secondary market, strengthen the countercyclical adjustment of the primary and secondary markets, and better promote the coordinated and balanced development of the primary and secondary markets. The market will feel this change.

　　5. What are the specific considerations for deepening the market-oriented reform of M&A?

　　A: M&A is an important way to optimize resource allocation and stimulate market vitality. Since 2019, there have been about 3,000 mergers and acquisitions in the whole market every year, and the transaction amount has exceeded 1.5 trillion yuan. In the next step, we will adhere to the problem orientation, conform to the market demand, and deepen the market-oriented reform of mergers and acquisitions. First, appropriately improve the valuation inclusiveness of light asset technology-based enterprise restructuring, and support high-quality technology innovation enterprises to become bigger and stronger through mergers and acquisitions. The second is to optimize and improve the audit mechanism such as "small amount and quick", extend the validity period of financial materials for stock issuance and restructuring, and further improve the efficiency of restructuring market. The third is to introduce the relevant rules for listed companies to issue convertible bonds to purchase assets, and enrich the payment methods for mergers and acquisitions. The fourth is to promote central enterprises to increase the integration of mergers and acquisitions of listed companies, and inject high-quality assets into listed companies through mergers and acquisitions channels to further improve the quality of listed companies.

　　6. Share repurchase plays an important role in stabilizing stock prices and boosting confidence. What considerations does the CSRC have in supporting share repurchase?

　　A: Share repurchase is an internationally accepted important means to safeguard the company’s investment value, improve the corporate governance structure and enrich the investor’s return mechanism. It is also a basic institutional arrangement in the capital market. In recent years, the CSRC has encouraged and supported listed companies to carry out share repurchase in many ways, and the scale of repurchase in the A-share market has increased steadily as a whole. In the next step, we will work with relevant parties to further optimize the share repurchase system, support more listed companies to stabilize and boost their share prices through share repurchase, safeguard shareholders’ rights and interests, and lay a solid foundation for a stable market operation. On the one hand, accelerate the revision of repurchase rules, relax the repurchase conditions of listed companies when their share prices fall sharply, relax the repurchase restrictions of new listed companies, relax the restrictions on the repurchase window period, and enhance the convenience of implementing repurchase. On the other hand, it encourages qualified listed companies to actively carry out repurchase, and urges listed companies that have issued repurchase plans to speed up the implementation of repurchase plans, increase repurchase efforts, and send positive signals in a timely manner.

　　7. Recently, the market has paid more attention to the major shareholder’s reduction. What are the next considerations in improving the reduction system and strengthening the supervision of the reduction behavior?

　　A: The major shareholder and Dong Jiangao are the "key minority" of listed companies. They have special obligations and responsibilities in the company’s business development and governance, and should earnestly safeguard the interests of the company and minority shareholders. The Securities Law, the Company Law and relevant regulatory rules clearly stipulate the holding period and the number of shares sold by major shareholders and Dong Jiangao. The major shareholder and Dong Jiangao shall strictly abide by it, and shall not evade the reduction restrictions in any way. Recently, we have clarified the regulatory caliber for the major shareholder and Dong Jiangao’s reduction in divorce, dissolution and separation, and eliminated possible loopholes in the system.

　　In the next step, the CSRC will continue to do a good job in reducing its holdings. On the one hand, resolutely crack down on illegal reduction, promptly and seriously deal with excessive reduction, undisclosed reduction, circumvention of restricted reduction, etc., and comprehensively use various means such as administrative supervision measures, administrative penalties, self-discipline measures or trading restrictions to severely punish illegal subjects, thus creating a shock and maintaining the order of the capital market. On the other hand, pay close attention to the problem of shareholder reduction reflected by the market, carefully analyze and evaluate, study and optimize the reduction rules in a timely manner, further standardize the reduction behavior of major shareholders and directors and supervisors, and enhance the institutional binding force.

　　8. Recently, there has been a lot of discussion on the T+0 trading system in the stock market. What do you think of this? Will this system be introduced?

　　A: Whether T+0 trading should be implemented in China’s stock market has been widely discussed in recent years. On the whole, there are great differences in various aspects. We believe that T+0 trading objectively plays a positive role in enriching trading methods and improving trading activity. However, we should also see that the stock price trend of listed companies depends on the quality and operating efficiency of listed companies, and the medium and long-term impact of T+0 trading method on market valuation is limited. At present, the A-share market is dominated by small and medium-sized investors, with 96% of the small retail investors holding shares with a market value of less than 500,000 yuan. At this stage, the implementation of T+0 trading may amplify market speculation and manipulation risks, especially institutional investors’ extensive use of programmed trading, which will aggravate the disadvantaged position of small and medium-sized investors and is not conducive to fair trading in the market. We believe that it is premature to implement T+0 trading at this stage.

　　9. Recently, there have been many calls from investors to reduce the stamp duty rate of securities transactions. What do the CSRC think of this?

　　A: We have paid attention to the market’s appeal and concern about lowering the stamp duty rate on securities transactions. Historically, adjusting the stamp duty on securities transactions has played a positive role in reducing transaction costs, activating market transactions and embodying the inclusive effect. It is recommended to know the specific situation from the competent authorities.

　　10. In March this year, the new regulations for overseas listing were officially implemented, and the CSRC indicated that more "green light" cases would be launched. What is the progress in this regard? What’s the next step?

　　A: Since the implementation of the new regulations on overseas listing filing, enterprises have actively submitted filing materials, and the number of applicants has increased significantly. We have continuously improved the requirements of filing compliance standards, strengthened communication and coordination between domestic and overseas regulators, and solidly promoted filing work. Nineteen enterprises of various types have completed listing and filing in Hong Kong and overseas in the United States. In the next step, we will continue to unblock the overseas listing channels of enterprises and launch more qualified "green light" cases, including VIE architecture enterprises and platform enterprises that are more concerned by the market. At the same time, promote the formation of a more transparent, efficient and smooth overseas listing supervision and coordination mechanism, respect enterprises’ independent choice of overseas listing places according to laws and regulations, and support qualified enterprises to make good use of two markets and two resources to achieve standardized and healthy development.

　　11. The bond market is an important part of the capital market. What are your considerations in implementing the deployment of "active market and boosting confidence"?

　　A: Since the beginning of this year, we have persisted in striving for stability and made every effort to promote the function of the bond market and achieved positive results. In terms of steady growth of services, we adhered to the coordinated development of corporate bonds, corporate bonds, ABS and REITs. From January to July this year, the total financing of various bonds issued by the exchange bond market was 7.32 trillion yuan, exceeding the level of last year. Among them, the issuance of science and technology bonds exceeded 167 billion yuan and the issuance of green bonds exceeded 90 billion yuan. By the end of July, a total of 32 REITs projects had been issued and listed, raising a total of nearly 100 billion yuan. In terms of basic system reform, the reform and deployment of the party and state institutions were implemented, and the transfer of corporate bond responsibilities was efficient and smooth. We issued guidance on implementing the reform of the corporate bond registration system, improving the quality of intermediary bond practice, and promoting the deepening of the reform of the bond registration system. In terms of prevention and control of key risks, we strengthened the prevention and control of bond risks in key areas such as urban investment and real estate, and the risk of default remained generally convergent.

　　In the next step, we will further introduce measures to stabilize expectations and confidence to stimulate the vitality of the bond market. First, comprehensively improve the vitality and quality of the bond market. Strengthen the reform of the investment side of the bond market and promote the full participation of banking institutions in the bond market of the exchange. We will strengthen the ranks of bond market makers, steadily push forward the reform of the inquiry and quotation system, and deepen the opening up of the bond market. The second is to accelerate the normal issuance and high-quality expansion of REITs. We will launch REITs-related indexes and REITs index funds, optimize the REITs valuation system and issue inquiry mechanism, cultivate professional REITs investors, and accelerate the interconnection between the REITs market and the Hong Kong market. The third is to adhere to the bottom line thinking and do a good job in risk prevention and control in key areas such as real estate and urban investment. To adapt to the new situation that the relationship between supply and demand in the real estate market has undergone major changes, we will continue to do a good job in supporting the stable and healthy development of the real estate market in the capital market. Maintain the overall stability of the financing channels of housing enterprises’ stock bonds and support the reasonable financing needs of normal operating housing enterprises. Adhere to the "one enterprise, one policy" and steadily resolve the default risk of bonds of large housing enterprises. Strengthen the risk monitoring and early warning of urban investment bonds, take the "explosion-proof thunder" of open market bonds and non-standard debts as the top priority, and make every effort to maintain the smooth operation of the bond market.