Liu Shijin: China’s economy has shifted from conventional growth to a long-term war epidemic growth model

Liu Shijin: China’s economy has shifted from conventional growth to a long-term war epidemic growth model
According to the latest statistics released by Johns Hopkins University in the United States, the number of newly diagnosed cases of new coronary pneumonia in the world is approaching 2 million, and the WHO recently found that the epidemic has not yet reached its peak.The overseas epidemic continues to spread, and the Chinese economy continues to be under pressure due to this.How to treat the impact of this second wave of overseas epidemic on China’s economy?What is the expected growth of China’s economy in 2020?Liu Shijin, former deputy director of the Development Research Center of the State Council, believes that the second wave of shocks will be much longer than the first wave of shocks, and the probability of growth impairment will exceed that of the former. China ‘s economy will have to shift from a conventional growth modelThe “war epidemic growth model” of the period.”Most can achieve a growth of about 3%, which is a big victory.”” Liu Shijin also said that in the case of changes in the growth background, the assessment of growth targets should also be adjusted accordingly.It is recommended to adopt a “relatively relative” assessment method, which is to use the ratio or difference between China’s growth rate and the world’s average growth rate.”If the world growth rate is -2 in 2020.5%, 3% in China, and 5 in relative terms.5% is higher than last year.”In the face of complex domestic and foreign economic indicators, how to position the policy?Liu Shijin suggested that short-term policies should focus on “recovery”, “rescue” and “risk-avoidance”, and the focus of the rescue assistance is on small and medium-sized enterprises and low-income people, thus relying on fiscal policy to exert force.The focus of hedging is to prevent the financial system from being shut down and chaotic due to liquidity tensions. China should have the ability to keep monetary policy normal without having to follow negative interest rates.Liu Shijin did not expect that at this stage to achieve steady economic growth, first and foremost is steady consumption, especially residents’ consumption, while infrastructure investment cannot stabilize the overall situation of China’s economy.So how to promote consumption?He suggested direct subsidies for low-income groups.”(Subsidies) cannot take the form, drizzle, and have a large enough amount to reach the monthly income or consumption level of low-income people.”In the medium and long term, how can reform be used to stimulate economic growth momentum?Liu Shijin believes that substantial deepening of reform is the best stimulus policy.The accelerated development of metropolitan areas and urban agglomerations is the largest structural potential of China’s economic growth. It is necessary to promote the construction of metropolitan areas through the reform of factor markets.”The outstanding problem of infrastructure investment is the wrong place and mechanism of investment.In the metropolitan area, there is little chance of error.”Sauna Night Net: The impact of the overseas epidemic is under pressure as one of China’s economic troika’s exports.How do you view the impact of overseas epidemics on the Chinese economy?Liu Shijin: First, the second wave of impact cannot be underestimated.At the beginning of this year, China’s economy was first hit by the epidemic. The economy almost stopped for more than a month, and it is now gradually recovering.However, the overseas epidemic situation is in a state of rising anxiety, and in general there is no turning point.According to the latest estimate by the WTO, the impact of global economic growth on the tilt of the ground in 2020 will be reduced by -2.5% to -8.8%, export growth rate is -17.1% to -40.9%, the import growth rate is -14.5% to -33.8%.China’s exports fell 11 quarters in the first quarter.4%, imports fell by 0.7%.After the second quarter, it is expected that the impact of overseas epidemics on China ‘s imports and exports will intensify and will become the second wave of impact on the Chinese economy.Relevant research conclusions, China’s imports and exports are expected to appear 15% -20% substitution, of which the decline in service trade.There is a view that because net exports account for a relatively low share of GDP, as long as net exports do not exhibit large negative growth, the impact on domestic growth is limited.This is true under normal growth, but if the short-term internal reduction of exports is too large, resulting in the suspension of a large number of export enterprises and production, it will directly affect domestic consumption, investment and employment.By expanding the budget analysis can be polished, a decline in exports and a merger will affect 0.2 nominal GDP.According to recent information, there has been a steep decline in orders from foreign trade companies.The impact of the 2008 international financial crisis on the Chinese economy also confirmed this.At that time, exports fell by 30 digits from a high point, driving GDP down by 7 subdivisions.When the second wave of shocks alleviates directly determines the trend of the international epidemic, and there are three great uncertainties in the international epidemic.First, the United States, Europe, Japan and other countries have shown inflection points after the reduction, but under the current control mode, it may be difficult to clear them in a short period of time like China, and there will be a fairly long tail;Third, whether the epidemic will exist across years or even for a long time.In this context, the second wave of shocks will be much longer than the first wave of shocks, and the growth and impairment will also exceed the former.I agree with the statement that the end of the global epidemic does not mean the country where the epidemic ended, but the worst country because we are on the same interconnected earth.Because of this, we will have to face and adapt to the reality that we have shifted from the conventional growth model to the “war epidemic growth model” for a long period of time.The salient feature of this growth model is the need to pay a “war epidemic discount cost”, which means that some resources must always be allocated to internal anti-rebound, external anti-input, and the economy is difficult to operate at full horsepower to achieve potential advantages.Sauna, Ye Wang Hou Runfang Editor Wang Jinyu proofread Li Ming

Three years of 200 million fines, the former branch president bribery floated out of Hengfeng Bank’s internal control out of control?

Three years of 200 million fines, the former branch president bribery floated out of Hengfeng Bank’s internal control out of control?
On April 22, Hengfeng Bank Co., Ltd. (hereinafter referred to as “Hengfeng Bank”) Penglai Sub-branch was fined 500,000 yuan by Yantai Banking and Insurance Supervision Bureau for “serious violation of prudential business rules due to insufficient internal control management.”According to incomplete statistics by reporters, Hengfeng Bank’s “internal control” violated regulations, and the total fines since 2017 have been nearly 200 million yuan.And together 3.During the trial process of the 2.8 billion bad “resolve plan” case, the prosecution found that the two former executives of Hengfeng Bank’s Beijing branch had taken bribes behind the case.In the case of “internal control management” violations and other cases, the official website of the 500,000 ticket issued by the lord showed that Hengfeng Bank was one of the 12 national joint-stock commercial banks. Its predecessor was Yantai Housing Savings Bank approved by the State Council in 1987.Approved at the beginning of 2003, it was restructured and renamed Hengfeng Bank Co., Ltd.The Hengfeng Bank’s 2020 interbank certificate of deposit issuance plan (hereinafter referred to as the “bank certificate of deposit issuance plan”) aims at scale and has been explained.As of the end of November 2019, Hengfeng Bank established 16 first-level branches in 13 provinces and cities, 2 direct branches, 32 second-level branches, and 341 branches in total. In addition, it also initiated the establishment of 5 village banks.According to the interbank deposit certificate issuance plan, since the new leadership of Hengfeng Bank took office, the bank is determined to forge ahead and deepen reforms.The working mechanism of the Risk Management Committee of the Board of Directors and the Risk and Internal Control Compliance Management Committee of the senior management has been improved.The reporter noticed that the issuance of the interbank certificate of deposit was issued in January 2020, but three months later, Hengfeng Bank once again received this 500,000 fine for reasons such as “internal control management” violations.However, the interbank deposit certificate issuance plan does not disclose the specific operation, financial and asset conditions of Hengfeng Bank.As of now, Hengfeng Bank’s official website letter Phi only shows up to the 2016 annual report.As of the end of 2016, Hengfeng Bank’s total asset balance reached 1.2 trillion yuan, with a net profit of 9.1 billion yuan in 2016.Non-performing loan financing 1.78%, a year-on-year increase of 0.29 total; provision coverage renewed 170.52%, a decrease of 6 from the same period last year.95 averages.In the “Hengfeng Bank’s 2017 Tracking Rating Report” (hereinafter referred to as the “rating report”) issued by Lianhe Credit Rating Co., Ltd. on July 27, 2017, Lianhe Credit Rating Co., Ltd. cited CBRC statistics to introduce the industry situation.As of the end of 2016, the National Commercial Bank of Non-performing Loan Supplement 1.74%, provision coverage costs 176.40%.In terms of asset quality, compared with industry data, Hengfeng Bank had already shown a development situation in which the NPL ratio was high and the provision coverage ratio was low.According to the rating report, Hengfeng Bank’s “high concentration in the loan industry and an increase in overdue loans” also became “attention” at that time.Regarding the disclosure of the annual report, on June 9, 2019, the Banking and Insurance Regulatory Commission ‘s news report explained to the reporter that “Hengfeng Bank has not disclosed the annual report due to factors such as investigation and reform and reorganization of the case.At the same time, according to its introduction, the relevant personnel involved in the case of Hengfeng Bank are investigating in accordance with the law.3.The Beijing Banking and Insurance Regulatory Bureau, the regulator of the Beijing branch of Hengfeng Bank, was the “back-to-case case” behind the 2.8 billion unfavorable “resolving plan.” On January 8, the official website published a news.The news content showed only one sentence-“Recently, Liu Zhiyong, member of the party committee and deputy director of the Beijing Banking and Insurance Regulatory Bureau, met with the president of Hengfeng Bank Beijing Branch Zhuang Baotai and his party.9 days ago, on December 30, 2019, the Zhucheng People’s Court of Shandong Province held a hearing about the original president of Hengfeng Bank Beijing Branch Qiu Ye, former general manager of the company’s business development department Zhu Weixin “Issued in violation of regulations”Financial ticket, bribery” first-instance criminal case.On February 18 this year, the China Judges Documents Network disclosed the entire court record (see Figure 1).The defendant Qiu Ye was sentenced to 7 years in prison with a fine of 300,000 yuan; the defendant Zhu Weixin was sentenced to 8 years in prison.Figure 1 The time of the case goes back to June 2016, which involves the merged company.In fact, this is to focus on 3 together.The 2.8 billion bad cases behind the “solution plan”, but during the trial process, the prosecution found new clues and was finally found by the court.The two defendants Qiu Ye and Zhu Weixin’s bribes in the back of the case amounted to nearly RMB 3 million.According to the allegations made by the People’s Procuratorate of Zhucheng, in June 2016, Tianjin Golden Energy Commercial Development Co., Ltd. (hereinafter referred to as “Golden Energy Company”) sponsored by the defendant Zhu Weixin was taken from Hengfeng Bank Beijing Branch3.The 2.8 billion loan was overdue.After trial, the court found that the Beijing branch of Hengfeng Bank established a “Leadership Group for Collection and Dissolution” composed of defendants Qiu Ye and others.The defendant Zhu Weixin is responsible for specific execution and communication with customers, and the defendant Qiu Ye is responsible for listening to the report and making the final decision.A branch chief of a listed bank told reporters that the bank ‘s relatively normal bad disposal has its corresponding process.”There are various forms of” pocket bottom “for a loan. There are third-party guarantee companies, real estate mortgages, and equity or commercial pledges.We will first analyze the way in which it is most likely to recover the overdue loan.Then, the next process is usually the first collection to the lender, go through the judicial process, enter the auction of collateral, recover the guarantee and other disposal.”According to the testimony of two witnesses (Zhang Mou1, then vice president of Hengfeng Bank Beijing Branch and Lu Mou2, then assistant president and general manager of the Business Department of Hengfeng Bank Beijing Branch), in June 2015, Gold Energy CompanyMortgage Loan for Commercial Acceptance and Exchange Acceptance issued by the company3.2.8 billion. By March 2016, it was found that Fenghua Company’s commercial ticket was not redeemed after the expiry of the ticket, and this business was at risk.The measures taken by the defendants Qiu Ye and Zhu Weixin were to find Fenghua Company ‘s superior unit, the Third Aerospace Academy, to bear the debt, but the result was not satisfactory. The other party claimed that Fenghua ‘s operations exceeded the authorization of the hospital.In order to resolve this overdue loan, a loan from Beijing Yingtong Property Management Co., Ltd. (hereinafter referred to as “Yingtong Company”) to Hengfeng Bank Beijing Branch was formed.For US $ 800 million, Beijing Bodikang Technology Development Co., Ltd. (hereinafter referred to as “Kangmou Company”) acquired 100% equity of Yingtong Company and undertook 3.The solution to the 2.8 billion loan repayment responsibility.In order to pay the down payment for the acquisition of Yingtong Company and to repay part of the overdue loans of Golden Energy Company in advance, some of the actual controllers of Kangmou Company borrowed money from Wuan Zhantuo Material Co., Ltd. (hereinafter referred to as “Zhantuo Company”) in the name of the company.800 million yuan.However, Zhantuo Company requested Evergrande Bank Beijing Branch to issue a letter of commitment, promising to issue loans on schedule to replace the projects absorbed by Kang Company.800 million bear joint responsibility.According to the court testimony of Zhang Mou1, a member of the “Leading Group for Collection and Resolution”, who was then the deputy governor of Hengfeng Bank Beijing Branch, the testimonial from Zhantuo Company required the Hengfeng Bank Beijing Branch to be a guarantee letter.The issuance of a guarantee letter requires credit approval, head office approval, merger of accounting conditions, accounting and other procedures, and uses the unified standard text issued by the head office, and if the text is to be narrowed, it must be reported to the head office for approval.At that time, the branch issued a letter of commitment to Zhantuo Company, which exceeded the authority.According to witnesses, this is the most common knowledge of bank employees, but it was “innocent” in the eyes of the executives of the two Hengfeng Bank Beijing Branch at that time.The court found that on March 16, 2017, the defendant Zhu Weixin submitted the letter of commitment drafted by Zhan Tuo to the defendant Qiu Ye for review.After reviewing, the defendant Qiu Ye violated the relevant provisions of the bank to process the guarantee letter, and unauthorizedly agreed to issue a commitment letter and signed it on the approval slip. Afterwards, the defendant Zhu Weixin took the seal approval slip to the office of Hengfeng Bank Beijing Branch on the commitment letter.Stamp.Subsequently, the defendant Zhu Weixin and the staff of Zhantuo Company jointly changed the letter of commitment to the replacement of the China Merchants Bank appointed in the name of a certain staff member of Zhantuo Company.According to the testimony of witness Zhang 2, the approval sheet that was supposed to be kept separately was later “returned by President Qiu Ye to be kept as an important document. Since then, I have not seen this approval sheet again.”However, a sudden report triggered a “crash” of the entire “bureau”.In May 2017, the defendant Qiu Ye was transferred to the head office company department.A month later, the defendant Zhu Weixin reported that the loan procedures were fully prepared, but suddenly received a report letter from the head office, which reported that Yeston had embezzled food assets.The head office of Hengfeng Bank requested that the relevant reports be merged first and the loan is suspended.It was identified in the verification that Yeston Company did not have a plot of engulfing and engulfing existing assets, and was qualified for issuing loans.However, due to the fact that the head office of Hengfeng Bank agreed to issue the loan on January 18, 2017, the validity period is 6 months, which expires on July 18, 2017.The pen 16.The 8 trillion dollar loan was eventually replaced as scheduled, and Kang and Yu were unable to repay Zhan Tuo.800 million US dollars.Zhantuo Company retrieved the letter of commitment and filed a civil lawsuit on June 18, 2018 to the Hebei Provincial High People’s Court, requesting Hengfeng Bank Beijing Branch to undertake.800 million US dollars principal and interest total 2.Joint liability of USD 3.4 billion.The east window finally happened.With 3.The 2.8 billion bad “save” case comes to the surface, as well as the fact that the two senior executives of Hengfeng Bank Beijing Branch took bribes.The court found that the defendant Qiu Ye, taking advantage of his position as governor, had repeatedly received the property delivered by Zheng Mou, an executive director of Beijing Womou Trading Co., Ltd., equivalent to RMB 183 in total.89.93 million yuan.The defendant Qiu Ye is a Beijing Womou Economic and Trade Co., Ltd., Beijing Lihengyuan Decoration Co., Ltd., and Zhongteng Hengxin Economic and Trade Co., Ltd., which belong to Zheng 1 and its partners, and seeks benefits from loans.Only one night in December 2017, in the underground parking lot of the community, the defendant Qiu Ye once accepted a trolley box given to him by Zheng Mou1, with a total of one million yuan inside.The defendant Qiu Ye then used 250,000 of his wife, 370,000 to pay the mortgage, and the remaining 380,000 yuan for his daily expenses.And on March 20, 2017, in order to thank the defendant Zhu Weixin in handling 16.With a US $ 800 million bank loan and help in the process of issuing a commitment letter, Yumou arranged for the secretary to transfer 100 million yuan to the China Merchants Bank Card of the defendant Zhu Weixin’s wife through bank transfer.His wife used 500,000 yuan to purchase wealth management products, and the remaining 500,000 yuan was transferred to the defendant Zhu Weixin’s China Merchants Bank Card for corporate expenses and daily expenses.The accused Qiu Ye and Zhu Weixin all had no objections and no defense in the court’s charges against the public prosecution agency; they also confessed the above facts recognized by the court.As of April 23, the reporter did not find the records of the second instance of Qiu Ye and Zhu Weixin’s appeal on the Chinese Judgment Document Network.In the third year, he was fined nearly 2 billion for violations of “internal control”. He made 5 orders a year and was directly related to the “internal control” issue.The administrative authority of the regulator; and the executives of Hengfeng Bank’s Beijing branch, similar to Zhu Weixin’s practice of hosting other companies during his tenure, have also been included in the fines for “17 crimes”.On December 29, 2017, the China Banking Regulatory Commission issued a total of 1 fine.6.7 billion “Skyward Tickets”.Allegedly, the ticket disclosed that there were 17 violations including “a serious loophole in internal control management”, “non-real transfer and distribution of non-performing credit assets of the branch” and “part-time executive violations in other economic organizations”.Because of “directly responsible for the mandatory investment activities of Hengfeng Bank in violation of state regulations”, Qiu Ye and five others were warned by the CBRC, and Qiu Ye and two others were also fined 5 million.At the beginning of the year, on March 2, 2017, the then vice chairman of the China Banking Regulatory Commission, Cao Yu, said at the press conference of the new state office that the CBRC changed to continue to strengthen supervision and promoted Hengfeng Bank to seriously implement the national standard policy and improveCorporate governance, improve the overall risk management level, strengthen the internal control compliance mechanism, and effectively improve its ability to serve the real economy.On April 3 this year, also at the press conference of the State Council, Zhou Liang, vice chairman of the China Insurance Regulatory Commission, was talking about the development model of small and medium-sized banks. During corporate governance, he “named” Hengfeng Bank again.According to Zhou Liang, because of the suspected crimes committed by the two previous chairman, Evergrande Bank had a small amount of bad assets.The regulatory authorities have also taken decisive measures to deal with this.According to the reporter’s incomplete statistics, in the past three years, that is, from 2017 to April 22, 2020 (based on the time when the ticket was issued), Hengfeng Bank received a total of 49 tickets issued by the supervising party to the organization as the target, and the total penalty was 2.01 billion.”Internal control” and “disposal of non-performing assets” and other related violations have become the focus of the supervision of Hengfeng Bank’s restructuring.According to the reporter’s incomplete statistics, there were 9 fines (institutions as the object of identification) involving “internal control” and “disposal of non-performing assets” from 2017 to April 22, 2020.Among the 17 institutional fines awarded a total of 1248 million penalties by Hengfeng Bank in 2018 alone, there were 5 directly related to “out of control of internal control management” or “unsound internal control”.In terms of specific fines, Hengfeng Bank ‘s total fines for “internal control” from 2017 to April 22, 2020 (institutions are the targets of discrimination) totaled 1.7.2 billion.Among them, Hengfeng Bank was fined 1 in 2017 for “serious loopholes in internal control management” and “part-time executives violated regulations while working part-time in other economic organizations”.6.7 billion, the highest in three years.Sauna, Ye Wang Huang Xinyu editor Chen Li proofreading Wang Xin

[How to distinguish eggs]_Egg_How to distinguish_How to distinguish

[How to distinguish eggs]_Egg_How to distinguish_How to distinguish

Eggs are foods that people often eat in daily life. Because of their rich nutrition and delicious taste, many people eat 1-2 eggs at breakfast for their health.

But how do you tell if eggs are fresh when buying them?

In fact, there are the following six methods. First of all, they can be identified by appearance method.


Appearance method: The egg shell of fresh eggs is relatively rough, there is a layer of hoarfrost powder on the egg shell, and it is not smooth when rubbed by hand.

The shell is smooth and shiny, incomplete, and cracked or gray spots are stale eggs.

Egg-raw egg-yolk-egg_10964213_xxl2.

Hand-cranking method: When you buy eggs, use your index finger, middle finger and thumb to shake the eggs. The ones without sound are fresh eggs.

The sloshing sound when hand-cranked is stale eggs, some sounds, the worse it gets worse.


Irradiation method: Gently hold the egg with your hand and observe the light. The fresh egg protein is clear and translucent. There is a small empty room on one end.

Stale eggs appear grayish, with empty spaces penetrating.

Some eggs have stains, which is a sign of staleness or deterioration.


Smell method: Use your mouth to gently breathe hot air on the egg shell, and then sniff the smell with your nose. Good fresh eggs have a slight lime flavor.


Rotating method: place the egg on a flat surface and gently turn it with your fingers. When fresh eggs are rotated, the egg shell is twisted, and it will stop after 2-3 weeks.

The spoiled eggs turn quickly and for a long time. If the eggs turn fast or slow, it proves that they are not fresh enough.


Float method: Take 500 grams of water, add 1 tablespoon of salt, put the eggs into the water after the salt has dissolved, and the fresh eggs are settled on the bottom of the water.It has been stored for 3-5 days.

And completely floating on the water, it is already rotten eggs.

[How to make Cola Ginger and Chicken Wings]_The common practice of Cola Ginger and Chicken Wings

[How to make Cola Ginger and Chicken Wings]_The common practice of Cola Ginger and Chicken Wings

In today’s booming economy, more and more people are pursuing “quick talk”, and more and more gourmet restaurants have suddenly emerged.

Eating out is a wonderful thing, but it’s not as good as doing it at home.


So in order to satisfy your “mouth desire”, you can learn to make Cola Ginger Chicken Wings 1 with me.

Clean the 1212 chicken wings, and use a fork to make small holes on the surface of the chicken wings to make the wings easier to taste; 2.

2121 Swipe two knives on the back of chicken wings, which is also convenient for chicken wings to taste; 3.

Add 10ml of white wine; 4.

Add 5ml of white vinegar, mix by hand and marinate for 10 minutes;

Ginger is peeled and cut into shredded ginger. Ginger is recommended to add more, very delicious; 20ml of raw soy sauce, 5ml of old soy sauce, 2g of salt, 2g of sugar, and substitute for use; 6.

Non-stick pan does not need to put oil. After the high heat is heated, turn to medium and low heat, and put the chicken wings face down into the pan; 7.

8. Fry over medium to low heat until golden, turn over; 8.

Also fry until golden; 9.

10. Pull chicken wings aside and stir-fry ginger shreds until fragrant; 10.

Pour a can of cola; 11.

Pour in the seasoning just adjusted; 12.

Do n’t cover the pot first, boil the foam when you see it; 13.

Cover the lid and cook for 10 minutes; open the lid and collect the juice on high heat; 14.

15. The sauce doesn’t have to be too dry. Use the sauce to make bibimbap.

The shredded ginger cooked with Cola is delicious and not spicy at all; after reading Xiaobian’s detailed analysis of Cola Ginger and chicken wings, do you really want to make it yourself?

But if you want to make it delicious and delicious, then it’s up to you.

[How to make pork and bean paste buns]_How to_Practice

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[How to make cola ribs]_Cola ribs_How to do_How to do

[How to make cola ribs]_Cola ribs_How to do_How to do

Everyone has eaten Coke Spare Ribs, a common dish. The most common way to make it is to prepare some fresh Coke, which is best opened fresh, so that the taste will be more uniform.

The ribs will be simmered with water beforehand, so the taste will be more gluten, and it will not affect the meat quality.

How to make it Cola ribs is a delicious recipe. The main ingredients are cola and ribs, sour, sweet, delicious, and nutritious.

Practice 600 g ribs, 2 cans of cola, ginger slices, shallots, star anise, old soy sauce, salt.

Ingredients for Method 2: 500 grams of pork chops Ingredients: Scallion, ginger, star anise, peppercorn juice, cinnamon, fragrant leaves, and spices Seasoning: salad oil, salt, old, soy sauce, cola, 1 canGinger, cinnamon, fragrant leaves, star anise, peppercorns, oil, old soy sauce, white sesame method one, preparation materials 2, put water in the pot, boil the water, 3, pour pork ribs, remove 4, and put oil in the pot andGinger slices 5, pour ribs, 6, stir fry, pour Cola 7, add star anise, 8, cook until the soup is dry.

Routine 2 1. Wash the ribs, add them to a pot of clear water, boil over high heat, skim off the froth, remove, and rinse with hot water 2. Set the wok on the fire, put oil, and heat to 50%, put inGinger slices, spring onion 3, pour in ribs with water, stir-fry, pour in old soy sauce, add star anise, peppercorns, fragrant leaves and cinnamon 4 and pour in a bottle of cola.Bring to a boil and simmer for 40 minutes.

Practice III 1.

Wash the ribs and drain the water for later use; 2.

2. Heat the oil in a pan, pour onion ginger slices and stir-fry; 3.

Pour pork ribs and stir-fry, pour old soy sauce; 4.

Add cinnamon, fragrant leaves, star anise and peppercorns, stir fry evenly; 5.

Pour in Coke, and spare no ribs. After the heat is high, simmer for 20 minutes. Sprinkle some white sesame seeds out of the pot.

Tip 1. Add cola to the ribs to taste slightly sweeter.

2. You can also add an appropriate amount of salt or soy sauce as you like.

In addition to protein, traces, and vitamins, ribs also contain a large amount of calcium phosphate, bone collagen, osteoadhesin, etc., which can provide calcium for young children and the elderly.efficacy.

[Eating figs and honey]_How to eat_How to eat

[Eating figs and honey]_How to eat_How to eat

Fig is a specialty fruit in Xinjiang, which has the function of laxative and laxative. People with high blood pressure and hyperlipidemia can often eat fig, which can relieve the symptoms of high blood pressure and hyperlipidemia.

If the fig and honey are eaten together, will it affect the body?

Figs have a very high sugar content. If you eat honey again, you will cause symptoms of high blood sugar and your body will become fat, so you must not eat figs with honey.

First, the efficacy and role of figs 1. Spleen and digestion, laxative and laxative figs are very rich in nutritional value. It is rich in citric acid, malic acid, trace enzymes, invertase, protease, etc.Digestion is very helpful to promote your appetite, and because figs contain a variety of lipids, it has a bowel and laxative effect.

Therefore, Xiaobian here recommends that friends who often like picky eaters and constipation can buy some figs and eat them back, which will greatly help your body.

2, lower blood pressure, lower blood fat friends who have eaten figs know that the flesh of figs is tender and tastes very good.

And the nutritional value of figs is relatively high.

do you know?

Decomposing enzymes, trace enzymes and other substances contained in figs can decompose blood lipids and reduce blood lipids.

Therefore, if you eat figs often, you can lower blood lipids and reduce aunt deposition in blood vessels, thus preventing coronary heart disease and lowering blood pressure.

3. Nutritional supplements Figs are rich in a variety of nutrients such as lipids, sugars, cellulose, proteins, inorganic salts, vitamins and essential amino acids, which can effectively supplement the nutrients in the human body and enhance our body.Anti-virus capabilities.

4. Anti-cancer and anti-cancer. The immature figs contain higher active ingredients such as bergamot, psoralen, and a kind of aromatic substance “benzaldehyde” can be extracted from the juice of mature figs.These all have anti-cancer and anti-cancer effects, which can effectively prevent the occurrence of lung cancer, liver cancer and gastric cancer.

Second, figs can’t be eaten with anything 1. Figs cannot be eaten with cold foods. Figs are natural laxatives. After eating, they have the effect of correcting diuresis and diarrhea, while cold foods have a strong cold.Obviously reduce the function of the gastrointestinal tract, and also have a certain effect of causing diarrhea. Among them, diarrhea is easy to occur when taken together.

Common cold foods are: okra, duck meat, millet, mung beans, cucumber, bitter gourd, etc.

2. Figs should not be eaten with high-sugar foods. Ripe figs have a sweet taste. They contain glucose, a small amount of glucose, fructose, and starch. They will also increase the sugar in the blood soon after consumption. If eaten with other high-sugar foods,It is easy to cause hyperglycemia, hyperglycemia and obesity.

Common high sugar foods: granulated sugar, candy, pastries, honey, etc.

3. Figs should not be eaten with over-acid foods. Figs contain a large amount of plant acids. After eating, they have a certain stimulating effect on digestion, and sour foods are also rich in acid. Eating these types of foods together is too stimulating to wasteCauses a large amount of secretion of gastric acid. In mild cases, gastric acidosis occurs. In severe cases, even the implanted mucosa is injured. Degenerative and perfusion ulcers appear.

Common sour foods are: kiwi, orange, grapefruit, plum, etc.

Third, the precautions for eating figs 1, friends with thin stools should not eat figs raw.

2. Patients with cerebrovascular disease, acute liver, diarrhea, paralysis of normal serum potassium and other patients should not consume figs.

3, figs are easily contaminated by fungi and insects after maturation. Therefore, figs cannot be eaten more and are not suitable for raw consumption, so as to avoid diarrhea.

[Difference between lemon and orange]_Orange_Difference

[Difference between lemon and orange]_Orange_Difference

Most people in life have eaten lemons and oranges. From the appearance, because they look similar to oranges, they are all oval-shaped, and some colors are similar. Oranges are sour, but there will beA trace of sweet taste, unlike oranges, is that the lemon itself is sour, and some people can’t stand it directly. The nutritional value and elements in the lemon are also different.

Oranges are the ripe fruits of the rutaceous arbor tree.

East China, South China, Southwest and Hubei, Hunan and other places have been cultivated.

Harvested in autumn and winter, peeled and used for sacs.

Contains orange peel compounds, citric acid, malic acid, succinic acid, fructose, pectin and a lot of vitamins (C, P) and other nutrients, has increased capillary elasticity, reduces blood cholesterol, has hypertension, arteriosclerosiseffect.

This product contains a large amount of vitamin C, which has the function of preventing oxidation and replacing carcinogen dimethylnitrosamine, so it can prevent cancer and treat cancer.

Lemon belongs to the evergreen small tree of the Artaceae family. The Latin species is called Citrus limon.

The fruit is pale yellow, with tender leaves and flowers with purplish red. It is mainly used for juice extraction. The fruit is sometimes used for cooking, but it is basically not used for fresh food because it is too sour.

The fruit contains 5% citric acid.

501 per liter of lemon juice.

6 mg of vitamin C and 49.

88 grams of citric acid.

Lemons originated in Malaysia and were brought to Europe by the Arabs. There is no record in the ancient Greek or Roman literature. Planting began in Genoa, Italy in the 15th century. It appeared in the Azores in 1494.To solve the fatal problem of westerners’ long-distance navigation-scurvy, the British Navy replaced the supplemental vitamin C.

1. Oranges: Mature fruits of the fragrant orange of the rutaeaceae tree plant.

East China, South China, Southwest and Hubei, Hunan and other places have been cultivated.

Harvested in autumn and winter, peeled and used for sacs.

Lemon: Citric acid Vitamin C, citric acid, malic acid, high amount of sodium and low amount of potassium, is one of the most medicinal fruits that is very useful to the human body.

Lemon has a pleasant taste and can be directly replenished with body water and vitamin C.

Vitamin C intake can triple the absorption of iron.

Smokers eat more lemons because they need twice as much vitamin C as nonsmokers.

2, citrate is low, and has a strong shrinkage, which is conducive to reducing traces. It is a good medicine for reducing the popularity of agricultural materials.

Lemon prevents cardiovascular arteriosclerosis and reduces blood viscosity.

Hot lemon juice and honey are very effective in treating bronchitis and nasopharyngitis.

Lemon has a certain effect on sinusitis, angina, liver disease, biliary disease and ulcer.

Lemon can also cure diarrhea, and has the effect of alkalizing urine, which is helpful for removing stones and urinary tract infections.

Lemon can make acne scarring in a short time, and it is also good for treating indigestion.

3, lemon is oval and small, very sour, used to squeeze more juice and soak more water, oranges are generally round and delicious.

Liuyao Pharmaceutical Co., Ltd. (603368): Pure drug sales continue to perform well in high-growth industries

Liuyao Pharmaceutical Co., Ltd. (603368): Pure drug sales continue to perform well in high-growth industries

Event: The company released its 18-year annual report. The income, net profit attributable to mothers and net profit attributable to non-mothers were 117.

1.4 billion, 5.

28 ppm and 5.

28 trillion, each year +24.

00%, +31.

59% and +31.

52%, slightly lower than our previous profit growth rate of 35%, mainly due to the increase in Q4 expenses and asset impairment.

The opinions are as follows: 18Q4 revenue maintained rapid growth, and profit growth fluctuated.

In 18Q4 income, net profit attributable to mothers and net profit attributable to non-mothers increased by +23 respectively.

99%, +21.

23% and +21.

36%; gross profit margin 12.

14%, an increase of 1 per year.

95 single, mainly due to the rapid growth of non-distribution high-margin business income.

We estimate that the growth rate of profit is lower than the growth rate of income mainly due to the impact of expenses and impairment: 1, 18Q3 cash acquisition of Vantone Pharmaceuticals, increased short-term expenses and financial expenses of Q4, total financial expenses of 18Q4 +16 million; 2, increaseAfter the 100 drugstores with the highest limit, Q4 has been regularly equipped with pharmacists and clerks. In the short term, labor costs and other expenses have been increased. 18Q4 sales expenses and management expenses have increased by +38.19 million yuan and +31.35 million yuan, respectively, both more than + 65%.

From the perspective of the highest split business, the income from the wholesale business increased by + 20%. We estimate that the revenue from the pure drug sales business increased by + 23%, maintaining a rapid growth; the gross profit margin was 8.

11%, ten years +0.

The advantages of 26 single, mature networks are gradually realized at the gross profit margin; the non-liuzhou region’s revenue continues to grow at a high rate (24% -30%), indicating that the company continues to vigorously promote the regional coverage of the distribution business; the number of equipment distribution increases by about 54%The future space is still vast.

The revenue of retail pharmacies is about + 50% per year. There are 443 pharmacies, of which 283 are medical insurance pharmacies, and pharmacies have been covered in 14 core cities in Guangxi.

In terms of industry, the income of Chinese herbal medicines1.

1.2 billion US dollars, in a rapid development; Chinese patent medicine (acquired Wantong Pharmaceutical) income for ten years.

6.5 billion, previously + 33%, profit of 86.39 million yuan, + 32% a year, we expect its 18Q4 consolidated 1500 or so, in 19 years while maintaining a rapid growth trend will contribute objective consolidated profits.

The stock repurchase can be used for 19 years of equity incentives to rationalize the benefits of middle-level backbone employees to promote growth.

The company’s recent share repurchase accounted for 1 of the company’s total share capital.

19%, holding cost price is 26.

Around 72 yuan / share.

For the 杭州桑拿网 upcoming 19-year equity incentive plan, all share repurchases are due to incentives, including 201 middle and senior executives including Tang Chunxue and Vice President Qiu Zhimeng.

06 yuan.

The conditions for unlocking stocks in developing countries are that incomes in 19-21 years are +18% / + 35% / + 50% respectively on the basis of 18 years.

The company estimates that the impact of budgeted stocks on profits in 19-21 will be 215.41 / 1579/502 million yuan.

Maintain “Highly Recommended-A” rating.

We expect the company’s attributable net profit growth in 2019-2021 to be 30% / 24% / 21%, and the corresponding EPS will be 2 respectively.



97 yuan; excluding equity incentive expenses, returning to the mother every year + 21% + 33% / 23% / 20% in 19-21, EPS is 2.



99 yuan.The current 四川耍耍网 market value corresponds to 19 years and pe is estimated to be around 12X.

As a regional pharmaceutical circulation leader, the company has deep industry barriers. The extension of the industrial chain provides strong support for the continued growth of future performance. The revenue structure continues to be optimized, and the “strongly recommended-A rating” is maintained.

Risk reminder: industry policy risk, risk of impairment of accounts receivable.

Hanchuan Intelligent (688022): Leading automotive electronics equipment company focuses on technological innovation and accumulates a large number of core technologies

Hanchuan Intelligent (688022): Leading automotive electronics equipment company focuses on technological innovation and accumulates a large number of core technologies

Report summary: Automotive electronics technology has become the core technology of the modern automotive industry. The high prosperity of downstream industries and the increase in the proportion of automotive electronic bicycles have driven the demand for equipment.

1) The size of China’s automotive electronics market increased from 32.8 billion US dollars in 2010 to 72.3 billion US dollars in 2016, with an average annual compound growth rate of 14%, and it is expected to reach 105.8 billion US dollars by 2020, and maintain a compound value-added of more than 10% in the next few yearsSpeed, the downstream industry maintains a high prosperity; 2) The electrification of automobiles and the trend of network connectivity are obvious, and the proportion of automotive electronics costs to the total vehicle costs has gradually increased. It is expected that the current 40% will increase to 50% or even higher in 2030Technology resonance will directly benefit the automotive electronics equipment industry.

Leading automotive electronics equipment company to accelerate the layout of medical health and new energy battery business.

Hanchuan is based on the automotive electronic equipment industry and is a leader in the domestic automotive electronic equipment industry. The equipment is mainly used in connectors, sensors and other fields. Its main customers include Tyco, China and other first-tier international companies. It is also one of the few domestic companies that has gone abroad.An enterprise that has won the core production line intelligent project of a world-renowned enterprise.

Downstream customers ‘capital expenditures are steadily increasing, and their proportion in customers has gradually increased. There is also room for breakthroughs in the future.

In addition, the fields of medical and health care, new energy batteries, and smart manufacturing business are further developed.

Focus on technological innovation, and continue to develop and accumulate a large number of core technologies.

Decades of independent research and development and industrial accumulation have created a highly competitive intelligent manufacturing product technology for the company, and accumulated a variety of core technologies such as embedded technology and machine vision technology.

From 2016 to 2018, the company’s R & D expenses were 11.43 million, 12.67 million and 19.6 million, and the R & D expansion continued to grow. At the end of 2018, there were 163 R & D personnel, accounting for 23.


Investment suggestion: It is expected that the company’s net profit attributable to the mother in 2019-2021 will be 0.

9.8 billion, 1.

2.7 billion and 1.

6.2 billion.

Hanchuan Intelligent and comparable companies are both emerging high-growth industries and have achieved considerable revenue and profit volume. We believe that the 都市夜网 comprehensive use of price-earnings ratio (PE) and market-sales ratio (PS) is reasonable and reasonable.The intelligent reasonable market value interval is (29.

45 billion, 34.

8.5 billion), 27 million shares to be publicly issued this time, accounting for 25 of the total issued share capital.

00%, the total share capital of the company after this issuance is 108 million shares, corresponding to a span of (27.

27 yuan, 32.

27 yuan).

Risk warning: Downstream industry development is less than expected; new customer expansion is less than expected