On Tuesday, local time, the three major US stock indexes closed up slightly, with the Nasdaq and the S&P 500 both hitting record highs. NVIDIA rose 0.64% to close at $953.86 per share, also hitting a new closing high. NVIDIA will announce its latest results on Wednesday, local time. At present, the market predicts that NVIDIA’s revenue in the first fiscal quarter is expected to reach 24.65 billion US dollars, with a year-on-year increase of over 200%.

　　On the disk, Tesla rose 6.66% to close at $186.6 per share, and its market value increased by about $37.2 billion overnight (about RMB 269.2 billion). An executive of Tesla introduced the Semi truck at an Expo. He said that thanks to Tesla’s fastest charging technology, the Semi truck can travel 1000 miles in 24 hours.

　　On Tuesday, local time, Ethereum continued to rise, once exceeding $3,800, with a cumulative increase of over 30% in 7 days. As of press time, the price hovered around $3,790. In the news, people familiar with the matter said that on Monday, the US Securities and Exchange Commission asked Nasdaq and Chicago Board Options Exchange to fine-tune the listing application of spot Ethereum ETF, indicating that the institution may be ready to approve the application for spot Ethereum ETF.

　　Nasdaq, S&P 500 hit record closing highs.

　　On Tuesday, local time, the three major US stock indexes closed up slightly, with the Nasdaq and the S&P 500 both hitting record highs. At the close, the Dow rose 66.22 points, or 0.17%, to 39,872.99 points. The Nasdaq rose 37.75 points, or 0.22%, to 16,832.62 points; The S&P 500 index rose 13.28 points, or 0.25%, to 5321.41 points.

　　Fed officials said in a speech that they hope to see good inflation data for many months before starting to cut interest rates. Federal Reserve Governor Waller said on Tuesday that the latest consumer price index is a reassuring signal that inflation has not accelerated. The inflation data in April showed that the progress towards the 2% target may have resumed, but the progress was moderate.

　　At present, the market is waiting for the minutes of the Federal Reserve meeting and NVIDIA financial report to be released on Wednesday local time. At present, Wall Street is generally optimistic about NVIDIA’s performance in the first quarter, and NVIDIA’s performance may bring more catalysis to the market.

　　On the disk, most technology stocks rose, with Apple up 0.69%, Amazon down 0.21%, Nye soaring 1.53%, Google up 0.53%, Facebook down 0.9% and Microsoft up 0.87%.

　　NVIDIA rose 0.64% to close at $953.86 per share, setting a new closing high. Several analysts raised the target price of NVIDIA. NVIDIA will announce its latest results on Wednesday, local time. At present, the market predicts that NVIDIA’s revenue in the first fiscal quarter is expected to reach 24.65 billion US dollars, with a year-on-year increase of over 200%.

　　Most Chinese stocks fell, with Nasdaq China Jinlong Index down 2.27%, Alibaba down 2.44%, Baidu down 3.43%, Pinduoduo down 0.9%, JD.COM down 4.2%, Netease down 5.57%, Weilai up 0.57%, LI down 3.45% and Xpeng Motors up 5.92%.

　　Tesla rose nearly 7%

　　On Tuesday, local time, Tesla rose 6.66% to close at $186.6 per share, and its market value increased by about $37.2 billion overnight (about RMB 269.2 billion).

　　In the news, a Tesla executive introduced the Semi truck at a clean energy transportation Expo in Las Vegas. He said that thanks to Tesla’s fastest charging technology, Semi trucks can travel 1000 miles in 24 hours. At the same time, Tesla confirmed that it is expected to start delivering Semi trucks to customers by 2026. To this end, they plan to build a new factory in Nevada with a target annual production capacity of 50,000 vehicles.

　　However, Tesla has not been calm recently. Tesla shareholders called on investors to vote against Tesla CEO Musk’s $46 billion sky-high salary plan at the shareholders’ meeting held in June. They accused Musk of ignoring Tesla and focusing on the roles of other companies such as SpaceX and X, and Musk also poached key talents from Tesla for the new company.

　　In addition, the shareholder group also called on shareholders to refuse to let Musk’s brothers and friends be re-elected as Tesla directors on the grounds that they have close personal relations with Musk.

　　According to Bloomberg News, Musk plans to cut at least 10% of Tesla’s employees. This plan has been implemented for more than a month, but it has not yet been completed. This means that employees need to check their information when they wake up every day to know whether they still have jobs. According to informed sources, the rolling layoffs may last at least until June. Musk has not given employees a clear signal that the layoffs are over.

　　Ethereum continues to rise

　　On Tuesday, local time, Ethereum continued to rise, once exceeding $3,800, with a cumulative increase of over 30% in 7 days. As of press time, the price hovered around $3,790, and Bitcoin dropped slightly, but the price was still above $70,000.

　　On Monday, local time, Ethereum soared nearly 20%, and the price once exceeded $3,700, which was the main virtual currency with the largest increase. Bitcoin prices also broke through the $70,000 mark again after more than a month.

　　In the news, people familiar with the matter said that on Monday, the US Securities and Exchange Commission asked Nasdaq and Chicago Board Options Exchange to fine-tune the listing application of spot Ethereum ETF, indicating that the institution may be ready to approve the application for spot Ethereum ETF.

　　According to a report by Bloomberg on Monday, the US Securities and Exchange Commission asked an Ethereum spot ETF issuer to update its 19b-4 filing document. 19b-4 filing documents are one of the necessary documents for ETF listing. ETF issuers need to obtain the approval of 19b-4 form and S-1 registration statement before they can officially launch products.

　　It is reported that the US Securities and Exchange Commission will disclose whether to approve the listing of spot ETFs of Ethereum on Thursday.

　　Federal Reserve Report: Inflation has led to the deterioration of the financial situation of over 60% of American households.

　　According to CCTV news reports, on May 21, local time, the Federal Reserve released the "Report on the Economic Situation of American Households in 2023". The report shows that although inflation may have slowed down last year, it continues to have an impact on the livelihood of Americans.

　　According to the report, inflation has caused the financial situation of 65% American families to "deteriorate", and 19% of them said their financial situation was "very bad".

　　In addition, more than half of the adults said that there was no money left after paying the fixed monthly expenses. Before the end of the survey, 17% of the adults surveyed said that they could not pay all the bills in full. According to the report, 63% of adults said that the cash on hand was enough to cover the emergency expenses of $400.

　　Liu Wei: The socialist basic economic system has obvious advantages in continuously liberating and developing productive forces.

　　The socialist basic economic system has fundamentally overcome the opposition between capitalist private ownership and production socialization, mobilized the enthusiasm of the broad masses of workers to a greater extent, overcome the fundamental opposition between capital and labor, and created a foundation for effectively coordinating the relationship between micro-and macro-economic goals and between the government and the market. While fully stimulating the vitality of market players, it has overcome the opposition between private interests and long-term social development goals from the system, so that the liberation and development of productive forces have stronger motivation and broader space. This institutional advantage has strict and scientific theoretical logic, and has been transformed into a remarkable advantage in liberating and developing productive forces in practice, which is manifested in the following aspects: it has realized the long-term sustained and high-speed development of China’s economy and created a miracle for backward developing countries to get rid of poverty; It has the independent ability to develop the national economy independently, while maintaining steady economic growth, it also has strong anti-risk ability; The achievements of economic development can be translated into the general improvement of people’s quality of life to a greater extent. — — President of China Renmin University and Chairman of the New Era Socialism with Chinese characteristics Thought Research Institute, the supreme leader of China Renmin University (Guangming Daily, 11th edition, December 13, 2019).

　　Zhang Junkuo: Perfecting the institutional environment is the key to successfully crossing the "middle income trap"

　　In the process of modernization of catch-up economy, there is not only the phenomenon of "middle income trap", but also the phenomenon of "institutional high wall". Through the comparative analysis of economic development and institutions in more than 100 countries, this theory finds that when an economy is at a low level of development, the requirements for institutional environment are not very high, but when it wants to break through the critical range of per capita GDP of 10,000 to 12,000 dollars, it needs a relatively perfect institutional environment, otherwise it will be difficult to cross this high wall and enter the ranks of modern countries. At present, China’s economic development and modernization process are close to this critical point, and the optimization of institutional environment is very important for the further advancement of modernization process.

　　To improve the institutional environment, we should focus on handling the relationship between the government and the market, follow the requirements of "effective market mechanism, dynamic micro-subjects, and moderate macro-control", seize the main contradictions and major issues, and concentrate our efforts in order to achieve practical results. — — Deputy Director of the State Council Development Research Center (Economic Daily, 15th edition, October 23, 2019)

　　Wang Bingquan: High-quality development needs a good institutional environment.

　　The core of the modernization of the national governance system is the improvement of the institutional system, which shows that all aspects of society are brought into a complete institutional framework for benign operation, and they will not be bothered by people. High-quality development urgently needs such an institutional environment. A good institutional environment brings a good social order and a stable social ecology, so that members of society and all walks of life can truly get their places. Only in this excellent environment can the development subject have the confidence to develop and the impulse to create.

　　On the political level, we must continue to strictly ensure that "politics is a door", eliminate the soil caused by political differences and political struggles from the system design, and build a ruling team that stresses politics, listens to instructions, and is clean and efficient. On the economic level, the development of mixed ownership, giving full play to the respective strengths of different forms of ownership and making them complement each other require further creation in institutional guarantee. — — Researcher, Institute of Political Science, China Academy of Social Sciences (People’s Forum, May 2019)

　　Gao Peiyong: The mode of resource allocation determines the characteristics of industrial system.

　　From the traditional economic system to the modern economic system, the combination of resource allocation methods will also undergo a two-dimensional turn. One is to change from government-led to market-led, and the other is that both market and government intervention should change from simple methods to complex ones. The government’s leading resource allocation and direct intervention in economic development can concentrate on mobilizing the capital and labor resources of the whole society, which will help the late-developing countries to promote industrialization quickly and realize take-off; This is not only recognized by the classical development theory, but also the reality of China’s planned economy era and reform and opening up. The model of "government-led+growth-oriented government+basic market mechanism" promotes the formation of an industrial system dominated by industry, but it also leads to a pattern of low internal efficiency and low-end dominance in various industries. When the combination of resource allocation mode is "market-oriented"+"sophisticated market mechanism"+"public service-oriented government", an industrial system with service-oriented and advanced internal structure of each industry can be established. — — Vice President and Member of China Academy of Social Sciences (Economic Research, No.4, 2019)

　　Drama Jinwen: We must promote economic system reform according to the principle of reducing transaction costs.

　　In the final analysis, the economic system is a series of rules that restrict the behavior of economic participants, and to measure the quality of an economic system, we must first look at the transaction costs it causes. A good system is an economic system that can continuously reduce transaction costs. As far as the current economic system of China is concerned, although it is generally consistent with the existing productivity level, there are still many unsatisfactory places. For example, the efficiency of state-owned economy and resource allocation in China still has room for further improvement, and the vitality of private economy has not been fully exerted, which restricts the high-quality development of China’s economy.

　　Therefore, it is necessary to intensify the reform of economic system and give state-owned enterprises more operational autonomy in accordance with the basic principle of reducing transaction costs; Through the "streamline administration, delegate power, strengthen regulation and improve services" reform, we will create a better policy environment, market environment and legal environment for the private economy, release the potential energy of market players to the maximum extent, and make the economic system truly become the institutional guarantee for high-quality development. — — Researcher, Institute of Economics, China Academy of Social Sciences (No.4 of National Governance Weekly, October 2019)

　　Liu Yuanchun: Promoting high-quality economic development with the macro-control system with China characteristics.

　　National governance is the result of the organic operation, organic combination and interaction of various systems. In order to give full play to its advantages and transform it into effective governance capacity, the existing systems should have correct political direction and strategic direction, an institutional system for allocating various resources, and an incentive mechanism and cultural system for fully mobilizing all kinds of subjects. The national development strategy ranks first in the macro-control with China’s characteristics, which is an important embodiment of the national medium-and long-term development plan. Through planning, we can unify our thinking, direction and actions, pool all kinds of resources and promote the implementation of major national strategies. Fiscal policy and monetary policy are the main means of our macro-control. In addition, our industrial, regional and employment policies also play a very important role. All these constitute the macro-control system with China characteristics. — — Vice President of China Renmin University (21st century business herald, November 19, 2019)

　　Liu Shangxi: Promoting high-quality economic and social development through fiscal and taxation system reform

　　The modernization of national governance system and governance capacity is an inevitable requirement for China’s economic and social development to reach a specific stage and achieve long-term national stability and national rejuvenation. Finance is the foundation and important pillar of state governance, and the modernization of fiscal and taxation system is a prerequisite for the modernization of state governance. The reform of fiscal and taxation system from the perspective of national governance should have new ideas and new paths. In particular, we should promote the reform of fiscal and taxation system with the central and local fiscal relations as the main body and the budget system and tax system as the two wings under the framework of two-level governance to avoid the reform falling into "fragmentation"; An advanced system needs advanced management means, tools and technology as its support. Therefore, the reform of fiscal and taxation system must attach importance to infrastructure construction to avoid falling into a situation where the advanced system is difficult to operate. Finance should play a basic role in national governance, infiltrate and sink into public policy and management, take fund management as the main line, coordinate and coordinate public policy and management, and make people, things and money in public management match more effectively; To play a pillar role in national governance, finance needs to be upgraded to a comprehensive national policy, and public management should be coordinated by fiscal management and public policy should be coordinated by fiscal policy. — — Party Secretary, Dean and Researcher of China Academy of Fiscal Science (National Governance Weekly, No.4, October 2019)

　　Ma Jiantang: Creating an Excellent Development Environment for the Real Economy

　　We should work hard to build a level playing field. We should fully mobilize the enthusiasm of all kinds of ownership enterprises to develop the real economy and create a fairer competitive environment; It is necessary to implement the shortest negative list system to provide fair access conditions for various market players; It is necessary to standardize market supervision and treat all kinds of market players equally; It is necessary to enforce the law fairly and effectively protect the legitimate rights and interests of various market players. Efforts should be made to optimize policies. The low profit rate is an important factor restricting the development of the real economy. To promote the gathering of various resource elements into the real economy, we must improve the profit rate of the real economy. It is necessary to reduce the tax burden of enterprises and create more profit space for market players by implementing larger-scale tax reduction and fee reduction. At the same time, it is necessary to effectively reduce the financing cost of the real economy, take measures such as lowering the RRR, lowering the real interest rate level, expanding direct financing, and supporting the accelerated development of market-oriented venture capital, so as to solve the problem of difficult and expensive financing in the real economy and promote finance to better serve the real economy. — — Party Secretary of the State Council Development Research Center (Economic Information Daily, A07 Edition, July 17, 2019)

　　Li Peng: Give full play to the role of the market as a "monitor" in the effective connection between consumption and industry

　　At present, China’s consumption upgrading has fully demonstrated and played a leading role in technological progress and scientific and technological innovation. However, compared with the development requirements driven by innovation, government regulation, policy adjustment and market system are still in the process of reform and reconstruction. We must speed up this process in order to stimulate the potential advantages of China’s huge consumer market capacity to a greater extent. First, we should take intellectual property protection as a long-term task, speed up the improvement of laws and policies on science and technology and intellectual property, and stimulate the internal driving force of innovation subjects. Second, we should clearly define the role of the government and the market in promoting consumption and innovation. We should not only give play to the macro-leading role of the government in strategic industries, but also accelerate the improvement of the micro-market system to promote consumption, expand competition and reduce regulation, and deeply stimulate the enthusiasm of enterprises and residents for independent development. Third, it is necessary to further strengthen support for small and medium-sized enterprises, give full play to their natural adaptability and viability to the market economy, and make them play the role of innovative subjects in high-quality economic development. — — Professor, Department of Economics, Party School of the Central Committee of the Communist Party of China (National School of Administration) (People’s Forum, mid-May 2019)

　　Chi Fulin: Promoting the process of high-quality development with the breakthrough of openness and innovation

　　A new round of scientific and technological revolution and industrial transformation is changing the way of human production and life, and its outstanding feature is global open innovation. A new generation of information technologies, such as artificial intelligence, 5G communication and industrial Internet, have made breakthroughs in concentration, and accelerated the infiltration and integration into traditional industries to promote the reconstruction of industrial chains, value chains and supply chains. At present, China’s economic transformation is intertwined with the new round of scientific and technological revolution, and it is even more necessary to lay a solid foundation for innovation-led development, strengthen the technical support for innovation-led development, and build R&D — The market integration system forms a policy and institutional environment that supports and encourages enterprise innovation, and fully stimulates the innovation vitality and innovation potential of enterprises. — — Dean of China (Hainan) Reform and Development Research Institute (Economic Daily, 15th edition, October 31, 2019)

　　Reporter Yang Zhonghou and Fang Liang Shi Dongbai reported that on March 18th, the mobilization meeting for major power grid projects in Liaoning and centralized start-up of Daya River and Xingcheng Pumped Storage Power Station of State Grid Corporation was held at the site of Shenyang Shengjing Power Transmission and Transformation Phase II Project. Hao Peng, Secretary of Liaoning Provincial Party Committee and Director of the Standing Committee of Provincial People’s Congress, Li Lecheng, Deputy Secretary of Liaoning Provincial Party Committee and Governor, and Xin Baoan, Party Secretary and Chairman of State Grid Corporation attended the mobilization meeting to jointly start the project. On March 17th, Liaoning Province held a meeting with State Grid Corporation to further strengthen communication, deepen cooperation and jointly promote high-quality development.

　　On behalf of the Liaoning Provincial Party Committee and the provincial government, Hao Peng thanked the State Grid Corporation for its strong support and help to Liaoning’s economic development and people’s livelihood improvement in various historical periods. He said that the General Secretary of the Supreme Leader attached great importance to the revitalization and development of Liaoning, full of confidence and full of expectations. We thoroughly study and implement the spirit of the important speech and instructions of the Supreme Leader General Secretary, fully implement the major decision-making arrangements made by the 20th National Congress of the Communist Party of China and the spirit of the two sessions of the National People’s Congress, firmly grasp the primary task of high-quality development, focus on achieving a new breakthrough in all-round revitalization, firmly grasp the precious window period and opportunity period in the last three years of the 14th Five-Year Plan, thoroughly implement the three-year action of comprehensively revitalizing the new breakthrough, and fight the "Liaoshen Campaign" to win the revitalization of Northeast China and Liaoning in the new era with unconventional measures to promote the transformation and upgrading of the province’s economic structure. The centralized commencement of major power grid projects of State Grid Corporation of Liaoning fully reflects the strong responsibility of State Grid Corporation of China to serve the national strategy and help Liaoning to revitalize in an all-round way, which will strongly promote the development of new energy in Liaoning, strengthen the safety and supply of energy and electricity, better safeguard national energy security and promote the green transformation of economic and social development in the province. Revitalize development, power first. It is hoped that State Grid Corporation of China will continue to base itself on the national strategy, actively participate in the revitalization and development of Liaoning, and combine Liaoning’s economic transformation, urban renewal and improvement of people’s livelihood.Increase investment and project layout in Liaoning, support the development of clean energy industry in Liaoning, accelerate the construction of new energy infrastructure, consolidate and upgrade the rural power grid, and make every effort to build a strong power grid to provide power guarantee for all kinds of market players to achieve better development in Liaoning. We will earnestly implement various supporting policies and measures, ensure the high-quality development of the State Grid in Liaoning, and make new and greater contributions to safeguarding national energy security.

　　At the mobilization meeting, Li Lecheng, on behalf of the Liaoning Provincial Party Committee and the provincial government, expressed warm congratulations on the centralized construction of 57 major power and energy projects, and expressed heartfelt thanks to State Grid Corporation and other central enterprises for their long-term important contributions to the revitalization and development of Liaoning. He said that at present, the whole province has fully implemented the spirit of the 20th National Congress of the Communist Party of China and the two sessions of the National People’s Congress, thoroughly implemented the spirit of the important speech and instructions of the Supreme Leader General Secretary on the revitalization and development of Northeast China and Liaoning, fully implemented the three-year action of comprehensively revitalizing the new breakthrough, and made extraordinary measures to win the "Liaoshen Campaign" for the revitalization of Northeast China and Liaoning in the new era. To achieve a new breakthrough in Liaoning’s comprehensive revitalization, electric power should be a "pioneer". We should take this mobilization meeting as an opportunity to thoroughly implement the "14th Five-Year Plan" strategic cooperation framework agreement signed by the two sides, accelerate the construction of a new power system, promote the high-quality development of Liaoning power grid, strengthen energy and power security, accelerate energy science and technology innovation and industrial upgrading, and jointly build a strong province with clean energy. We will increase policy support, support the implementation of power grid planning at all levels, support State Grid Corporation of China to participate in major engineering construction and comprehensive energy services in key areas in Liaoning, and promote the implementation of the "one body and four wings" development layout of State Grid Corporation of China in Liaoning. It is hoped that State Grid Corporation of China will closely combine the enterprise development strategy with Liaoning’s development strategy and development priorities, deepen pragmatic cooperation and achieve mutual benefit and win-win.Show greater responsibility and achievements in jointly serving the national strategy and accelerating the revitalization and development of Liaoning.

　　Xin Baoan said that Liaoning is the leader and engine leading the revitalization of Northeast China and plays a pivotal role in China’s overall economic and social development. State Grid Corporation of China has always regarded serving Liaoning’s economic and social development as a major political task. Since the "Thirteenth Five-Year Plan", a number of major power grid projects have been started and put into operation in Liaoning, and the layout of power grid development has been continuously optimized to ensure a stable and orderly power supply. Construction of 57 major power grid projects, such as Daya River and Xingcheng Pumped Storage Power Station, started in an all-round way, which is a great measure to improve the power grid’s ability to allocate resources and ensure the reliable supply of electric power in Liaoning. It is also a great responsibility to go all out to stabilize growth and employment, serve the overall revitalization of Liaoning, and promote the clean and low-carbon transformation of energy and the green development of Liaoning. Today’s mobilization meeting marks that all projects have entered the stage of comprehensive construction. State Grid Corporation of China will give full play to the advantages of talents, management and technology, meticulously organize, carefully deploy and lean management, and promote the project construction with high quality and high efficiency. It is hoped that all participating units and builders will vigorously carry forward the spirit of artisans, work closely together, firmly establish the concept of safety first, pay close attention to the quality of projects, and strive to build quality projects and demonstration projects. We will make every effort to promote the construction of major power grid projects, jointly ensure power supply, stabilize growth and promote transformation, better serve Liaoning’s comprehensive revitalization and make new and greater contributions to building a socialist modern country in an all-round way.

　　The centralized construction projects include 55 major power grid projects such as Fuxin Toyota 500 kV power transmission and transformation project, Panjin Liaobin 500 kV power transmission and transformation project and Yingkou Huguan 500 kV power transmission and transformation project, as well as two pumped storage projects in Daya River and Xingcheng, with a total investment of 33.8 billion yuan, which is expected to stimulate social investment of more than 70 billion yuan, provide more than 20,000 jobs, and promote better stable investment, employment and people’s livelihood in the province. The power grid and pumping and storage project have the advantages of large investment, strong driving force and remarkable medium-and long-term economic benefits, which will effectively promote the coordinated development of upstream and downstream enterprises in the industrial chain and the coordinated development of regional economy, improve the power supply guarantee capacity of Liaoning power grid, and better serve Liaoning’s economic and social development and energy transformation and upgrading.

　　The mobilization meeting was held in Dalian, Huanren Manchu Autonomous County of Benxi, Zhangwu County of Fuxin and Xingcheng City of Huludao.

　　Hu Yuting, Deputy Secretary of Liaoning Provincial Party Committee, Wang Xinwei, Wang Jian, Zhang Chengzhong, Jiang Youwei and Chen Shaowang, leaders of Liaoning Province and Shenyang and Dalian, and relevant responsible comrades of State Grid Corporation attended the relevant activities.

1905 movie network news The crime action giant released the theme song "It’s hard to draw a line between right and evil" by and together. Although the two have known each other for decades, and George Lam is the guide on the music road in Andy Lau, this is the first formal cooperation single of "Master and Apprentice". In the song, Andy Lau plays the role of "righteousness" and George Lam plays the role of "evil". Their rich voices complement each other, and they sing the affection and righteousness of Lin Zhen ‘an (Andy Lau), a drug Lord, to his wife and brother in the film, and the lawlessness in the live broadcast of drug trafficking and disregard for human life, and tell the story of his complex multifaceted and human struggle.

Old songs also have new ideas! This time, they added Cantonese rap passages to this classic old song, which made the game between right and evil more dramatic. At the same time, the whole MV is innovatively made by using AI technology, and its virtual image and colorful pictures are refreshing. Old Cantonese songs, which have been repeatedly tasted by countless people in 1980s, have gained new vitality under the interpretation of Andy Lau and George Lam.

The film is produced and directed by Andy Lau, acting as the action director, starring Andy Lau,, and, especially starring Zheng Zeshi, Tan Shanyan, Liu Junqian and Zhu Jianran. It will be released nationwide on December 29th, and the pre-sale is in full swing.

Andy Lau and George Lam were divided into "angels" and "demons".

Sing the two sides of drug Lord Lin Zhen ‘an’s "crazy criticism" and "pure love"

The tense duet between Andy Lau and George Lam seems to be a fierce self-analysis in the peace of mind of drug lords. He constantly tortured his heart and faced the right and evil in human nature, and we gradually entered his complicated heart in music. In the drug empire, Lin Zhen ‘an, the drug Lord, is the "root of all evils". He opened up a secret network to broadcast drug trafficking live, poisoned more people at a lower cost and made sky-high profits from it. Whoever gets in the way, he won’t hesitate to get rid of them. Just as in the lyrics, "Control my fate and let me arrange it skillfully", Lin Zhen ‘an absolute monarch is like a "devil" who plays with life.

The devil also has another side. In front of close people, Lin Zhen ‘an becomes a "close friend" and a "gentle husband". He will be keenly aware of Xiuhao (Lin Jiadong)’ s family crisis and patiently comfort him. He will also drop his guard and listen to songs and have heart-to-heart talks with Xiuhao. At the same time, he takes good care of his pregnant wife Vivian (Liu Yase). When he smiles gently at Vivian, no one can connect him with a murderous drug Lord. When Vivian was shot and injured, Lin Zhen ‘an was completely crazy, and he avenged his love at all costs and made everyone pay for it. Without Vivian, he seems to have lost his humanity and become a "devil" completely.

Andy Lau named Lin Zhen ‘an George Lam to pay tribute to George Lam.

Use AI technology to create MV and restore the young appearance of Andy Lau George Lam.

It has been 34 years since the last screen cooperation between Andy Lau and George Lam. This time, Andy Lau invited George Lam to sing the theme song of the film together and complete their first formal single. George Lam’s fate with Stealth doesn’t stop there. Andy Lau also hides his tribute to George Lam in the details of the film. For example, Lin Zhen ‘an’s English name George Lam is taken from George Lam’s English name. In the movie, Lin Zhen ‘an and Xiu Hao met because they both liked listening to George Lam.

The feelings in the play are full, and the new ideas in the MV are constant. The whole process of this MV uses AI technology, and the virtual images of Andy Lau and George Lam are presented in the MV. The director Junie Lau collected hundreds of photos of the two people in different periods, and then used AI technology to restore their youthful looks, and then derived nearly 30 different characters.

In recent years, Andy Lau has been trying new things and getting closer to the world of young people. At the same time, it has also unreservedly supported young creators in various fields. MV director Junie Lau won the Stable Diffusion short film contest earlier with her homemade AI MV. When Andy Lau invited her to work on the MV, she was also given ample creative space. Andy Lau, like a ferryman, has built a bridge of communication between the public and young creators, allowing more new generations to be seen by everyone and bringing more fresh experiences to everyone.

The movie "Stealth" will be released nationwide on December 29th.

　　At the two conferences held in a week, the Supreme Leader General Secretary emphasized the same key word — — People’s democracy in the whole process.

　　On September 14th, at the celebration of the 70th anniversary of the founding of the National People’s Congress, General Secretary of the Supreme Leader emphasized: "We should adhere to, improve and operate the people’s congress system around the development of people’s democracy in the whole process, so as to provide a solid institutional guarantee for realizing the goal of the party and the people in the new era and new journey."

　　On September 20th, at the celebration of the 75th anniversary of the founding of China People’s Political Consultative Conference, the Supreme Leader General Secretary pointed out: "Looking back at history and looking forward to the future, we should be more confident in road, theory, system and culture, give full play to the remarkable political advantages of the CPPCC in the whole process of developing people’s democracy, and constantly consolidate and develop a lively, stable and United political situation."

　　Why should "whole process people’s democracy" be placed in such an important position?

　　General Secretary Supreme Leader’s thinking on the whole process of people’s democracy has always been based on the broad vision of the great cause of national rejuvenation.

　　Looking back 10 years ago, General Secretary of the Supreme Leader looked back at the Party’s unremitting exploration and struggle to realize the people being the masters of the country and made an important conclusion — —

　　"People’s democracy is the life of socialism. Without democracy, there will be no socialism, no socialist modernization, and no great rejuvenation of the Chinese nation. "

　　Extend the lens of time again.

　　General Secretary of the Supreme Leader has repeatedly mentioned the "cave-cave pairing" between Comrade Mao Zedong and Mr. Huang Yanpei in Yan ‘an. That was in the summer of 1945. Facing the question of how to jump out of the historical cycle rate, Comrade Mao Zedong confidently replied: "We have found a new way, and we can jump out of this cycle rate. This new road is democracy. "

　　Wind and rain, the road is boundless.

　　On November 2, 2019, General Secretary of the Supreme Leader clearly pointed out — —

　　"We are following a road of political development in Socialism with Chinese characteristics, and people’s democracy is a democracy in the whole process".

　　In October 2021, at the work conference of the Central People’s Congress, the General Secretary of the Supreme Leader made a systematic and incisive exposition on the major concepts and practical requirements of people’s democracy in the whole process.

　　Once put forward, "people’s democracy in the whole process" immediately attracted great attention at home and abroad. It is precisely because of this great concept that based on the understanding of the development law of democratic politics, the "master key" and "master switch" for realizing democracy have been identified.

　　The whole process of people’s democracy, for whom?

　　People being masters of their own affairs is the essence and core of democracy in China. Since its birth, the Communist Party of China (CPC) has made unremitting exploration and struggle to realize that the people are the masters of the country.

　　Jiangshan belongs to the people, and Jiangshan is crowned with the people. "The name of our country, the name of our state organs at all levels, are titled ‘ People ’ This is our basic orientation for the socialist regime in China. "

　　Capitalized "people" paves the way for the whole process of people’s democracy. Whether it is holding a conference to deliver an important speech or going deep into the grassroots investigation and research; Whether meeting with Chinese and foreign journalists or having a cordial discussion with people from all walks of life, the Supreme Leader General Secretary repeatedly stressed: respect the people’s dominant position and ensure that the people are masters of their own affairs.

　　Who does people’s democracy depend on in the whole process?

　　Socialist China has developed from a backward agricultural country to a world power with the second largest economic aggregate and strong comprehensive national strength. It has eliminated absolute poverty, created a miracle in the history of human poverty reduction, and built the world’s largest education system, social security system and medical and health system … … Without the people’s status and spirit of ownership, without the United struggle of hundreds of millions of people, how can such achievements be achieved?

　　At present, the changes of the world, the times and the history are constantly expanding in breadth and depth, and the arduous and arduous task of China’s reform, development and stability is unprecedented. In the critical period of comprehensively promoting the construction of a strong country and the great cause of national rejuvenation with Chinese modernization, only by fully stimulating the enthusiasm, initiative and creativity of all the people can we have a solid support and strong confidence to cope with risk challenges, difficulties and even stormy waves.

　　What is the weight and strength of the people? General Secretary of the Supreme Leader said: "China has a population of more than 1.4 billion. Who can match the strength and wisdom of hundreds of millions of people?"

　　The whole process of people’s democracy is combined with great practice and develops with the times.

　　"The whole process of people’s democracy not only has complete institutional procedures, but also has complete participation in practice, which is extensive, true and useful."

　　In August this year, faced with the speakers attending the 40th anniversary of the National People’s Congress’s accession to the Inter-Parliamentary Union and the Sixth Seminar for Parliamentarians from Developing Countries, General Secretary of the Supreme Leader pointed out that one of the most important experiences of China’s remarkable achievements in governance was that it took the road of political development in Socialism with Chinese characteristics under the leadership of the Communist Party of China and adhered to and developed people’s democracy throughout the process.

　　Extensive, authentic and effective democratic achievements are strongly supported by "full chain, all-round and full coverage".

　　In a big country with a vast territory, a large population and complicated national conditions, it is not easy to truly express and realize the wishes of more than 1.4 billion people, and it must be guaranteed by the system.

　　"Both history and reality show that a stable system leads to a stable country, and a strong system leads to a strong country." The 20th National Congress of the Communist Party of China made comprehensive arrangements for developing people’s democracy in the whole process and ensuring that people are masters of their own affairs, and the Third Plenary Session of the 20th Central Committee of the Communist Party of China made specific arrangements for improving the system of people’s democracy in the whole process … … We will develop people’s democracy in the whole process, so that various systems can better reflect people’s will, protect people’s rights and interests, stimulate people’s creativity, and use institutional systems to ensure that people are masters of their own affairs.

　　In recent years, some countries have seen phenomena such as democratic alienation and disorderly governance, which has given birth to deep thinking about the relationship between democracy and state governance in the international community. How to ensure the benign interaction between democratic development, political stability and social progress? How to overcome the phenomenon that the people in some countries have the right in form but not in fact, and make promises all over the sky during the election and no one asks after the election? China’s exploration and practice vividly explained that "people’s democracy is a glorious banner that the Communist Party of China (CPC) has always held high" and explored a new path for the development of human democracy.

　　Unswervingly follow the road of political development in Socialism with Chinese characteristics, adhere to and improve China’s fundamental political system, basic political system and important political system, constantly improve the system of people being masters of their own affairs, enrich democratic forms at all levels, expand people’s orderly political participation, fully embody people’s will, safeguard people’s rights and interests, and stimulate people’s creative vitality.

　　Complete institutional procedures and participation in practice make the whole process of people’s democracy change from value concept to institutional form, governance mechanism and people’s lifestyle rooted in China.

　　"The whole process of people’s democracy in China is based on China’s national conditions, history and culture and reflects the wishes of the people. We are equally proud." The words of the Supreme Leader General Secretary show pride in the whole process of people’s democracy and confidence in Socialism with Chinese characteristics’s political development path, which has become a portrayal of the whole party and the people of all ethnic groups in China who are full of confidence in the great cause.

　　Self-confidence is the only way to improve yourself. We should learn from the beneficial achievements of human political civilization, but never copy the western political system model.

　　Practice has fully proved that the whole process of people’s democracy is feasible, vital and efficient because it grew from the social soil of China, and it must be deeply rooted in the social soil of China if it is to continue to thrive in the future.

　　Looking far and wide, and putting democracy in the perspective of "the common value of all mankind", the significance of China’s active development of people’s democracy in the whole process is even broader.

　　When in some countries "excess democracy", "excessive democracy" and "deficit democracy" coexist, and when the myth of "what’s wrong with democracy" and "does democracy still work" arises, "the Communist Party of China (CPC) led the people of China to make great achievements in developing people’s democracy, which enriched the theory and practice of world democracy and contributed to China’s wisdom and China’s plan."

　　"Democracy is not an ornament, not for decoration, but for solving problems that people need to solve."

　　"Democracy is the right of people of all countries, not the patent of a few countries."

　　The unique concept of democracy contained in Chinese modernization was formed in the process of promoting socialist modernization, and it was put forward on the basis of summing up the process of human modernization, which provided a useful reference for human exploration of a better political system.

　　"We are willing to continue to explore with all countries and people in the world who pursue peace, development, fairness, justice, democracy and freedom the way to realize extensive, true and effective democracy and make new contributions to the progress of human political civilization." The words of the Supreme Leader’s General Secretary are extremely important, based on the common pursuit of democracy by all mankind, and full of deep concern for the future and destiny of mankind.

　　Planning: Zhang Yi, Du Shangze

　　Written by Zhao Cheng

　　Poster: Li Yan

　　Vision: Bi Xiaoyang and Yu Dongsheng

　　Photography: Xinhua News Agency reporter Xie Huanchi and Ju Peng.

　　Editor: Jiang Xuehong

　　Proofreading: Julie

　　Editor in charge: Jiang Xuehong

　　"Green hills on three sides and water on one side, a city full of porcelain and half a city full of kilns" is a unique city in China and even the world. More than 2,000 years’ history of smelting ceramics, 1,000 years’ history of official kilns and 600 years’ history of imperial kilns-Jingdezhen was born and prospered because of porcelain, and the blending of mud and fire created countless amazing arts, which made a city rely on a single handicraft industry to support for thousands of years. Jingdezhen hand-made porcelain is one of the important non-legacy cultures, which is famous for its exquisite ceramic making skills and unique artistic style.

　　In order to protect and inherit Jingdezhen’s intangible culture, the local government and relevant institutions have taken a series of measures, such as establishing intangible cultural protection bases, holding ceramic cultural activities and cultivating inheritors. At the same time, it also promotes the innovative development of Jingdezhen ceramic culture through the combination of modern design and technology, and makes this ancient intangible culture glow with new vitality in the contemporary era.

　　Non-legacy should not just be displayed in a museum, but should be constantly given more vitality. As a new business model, live e-commerce is gradually becoming a new channel for non-genetic broadcasting and promotion, enhancing the social awareness of non-legacy projects and promoting the inheritance and development of non-legacy projects.

　　Based on protecting traditional culture and helping non-genetic inheritors, Tik Tok e-commerce "Seeing Craft Plan" has launched special support one after another. Relying on the global interest e-commerce model, it helps non-genetic inheritors, craftsmen and merchants to grow continuously on the platform through daily business training, commodity card traffic support, and live broadcast of talents.

　　According to the 2023 Tik Tok E-commerce Assistance Intangible Heritage Development Data Report released by Tik Tok E-commerce, the turnover of non-genetic inheritors on the platform increased by 194% year-on-year, and the number of non-genetic inheritors with turnover exceeding one million yuan increased by 57% year-on-year. Handmade twist, ceramic cups, purple sand teapots, filigree inlaid necklaces and Wuyi rock tea are the most popular intangible heritage items for consumers. Judging from the proportion of consumers of different age groups, "post-90 s" accounts for the largest proportion, and it is the people who love to buy non-legacy products on the platform. The turnover of "post-00 s" purchases of non-legacy products has nearly tripled year-on-year.

　　Xu Zhijun, the founder of Xu Kiln in Jingdezhen, studied under the tutelage of Jingdezhen since childhood, and began to deepen the famille rose porcelain industry in 2018, and founded the brand of Xu Kiln, which mainly inherited the famille rose craft of Imperial Kiln Factory and focused on the palace style. "Inspired by the royal aesthetic and imperial kiln factory, every artifact must be exquisitely crafted, exquisite and elegant, which is where the brand culture of Xu kiln lies." Xu Zhijun said frankly that Xu Yao’s products include not only gorgeous and elegant peony series, clear and refined day lily series, but also rigorous and delicate design and decoration series.

　　"Compared with before, after the short video and live room sales of Tik Tok e-commerce, the transaction volume has almost quintupled." Up to now, the products of Xuyao peach series and flower series have sold over 60,000 pieces through Tik Tok e-commerce. Xu Zhijun has now opened five physical stores in Jingdezhen, and there is also a famille rose production factory of more than 1,000 square meters. According to Xu Zhijun, the number of pastel craftsmen and students in the factory has increased to 50, and many post-90s and post-90s students of Jingdezhen Ceramic University will often visit his shop, showing their willingness to learn this intangible skill.

　　As a treasure of China traditional culture, intangible cultural heritage is the crystallization of national wisdom. Live e-commerce is not only an innovation of business model, but also the inheritance and promotion of traditional culture. This kind of cooperation has enabled Intangible Heritage to enter more people’s lives, and at the same time, it has added more cultural value to the e-commerce platform. We look forward to seeing more such cooperation, contributing to the protection and development of intangible cultural heritage and jointly creating a more colorful cultural world.

Original title: More than 100 events in three series, such as "Book Fair for the New Year", appeared in Beijing, and the book-like feast warmed people’s hearts.

A book market is set up on the second floor of Beijing West Railway Station, which is convenient for passengers to bring books to read on the road. (An Xudong photo)

　　The Spring Festival in the Year of the Loong is approaching. With the theme of "Reading and Enjoying the New Year in Beijing", Beijing has carefully organized and launched more than 100 events in three series, namely, "Celebrating the New Year in the Scholarly Market", "Celebrating the New Year in the Scholarly Travel" and "Celebrating the New Year in the Scholarly Cloud", and prepared a feast for the general public and tourists. On February 7th, I visited Beijing West Railway Station, Wangfujing Pedestrian Street, Beijing Book Building and Liulichang Store of China Bookstore, and felt the strong fragrance of books.

　　On the second floor of Beijing West Railway Station, people are coming and going, and the book market of "Reading and Enjoying the New Year in Beijing" is full of joy and kindness, which makes everyone stop. It is the first time to open a book market in Beijing West Railway Station. Wangfujing Bookstore has prepared more than 1,000 kinds of books and cultural and creative products for this purpose. Here are the top books on the book charts, such as Alive, One Hundred Years of Solitude, Red Rock, etc., and excellent literary works published in recent years, such as Baoshui, Jiashan and Golden Ruins, as well as books that highlight Beijing cultural elements, such as the series of Beijing Cultural Books, etc., and popular reading materials that children like are indispensable. Du Juan, deputy general manager of Wangfujing Bookstore, said: "Wangfujing Bookstore combines the characteristics of Spring Festival travel rush to plan the activity of" bringing a book to children in hometown ",and readers can enjoy 60% discount and free postage service when purchasing books.

　　The book market also set up a public reading activity desk, and the Beijing Newspaper Distribution Bureau distributed free electronic or paper reading materials and Spring Festival gifts to passengers, and presented free online reading cards. Periodicals such as chinese national geography and China Newsweek, as well as newspapers such as Beijing Daily and Beijing Youth Daily, can be collected for free. The newspaper distribution bureau has also prepared 20,000 reading aid cards. Passengers can enter the password to activate the reading cards, and they can read more than 200 kinds of electronic periodicals on the "China Post Reading" APP for free within 40 days.

　　It is understood that the management committee of key stations in Beijing, taking advantage of the traffic resources of the stations, joined forces with Beijing Publishing Group and Beijing Newspaper Publishing Bureau to launch the book market of "Reading and Enjoying the New Year" in Beijing West Railway Station and Beijing Chaoyang Station from the first day of Spring Festival travel rush (January 26th) to the Spring Festival (February 8th).

　　Come to Wangfujing Bookstore on Wangfujing Pedestrian Street. In the sunshine, people buy books, punch cards and collect chapters, and choose cultural creations here, which is a happy atmosphere. With the theme of "Lighting Reading, Warming Winter", Wangfujing Shuxiang Market has linked seven bookstores including China Bookstore, Foreign Language Bookstore and Beijing Book Building, and provided citizens with a series of activities, such as book sales, exhibitions and exhibitions, and experience in restoring ancient books. An Liang, assistant general manager of the foreign language bookstore, said that the book fair originally lasted for one month and ended on January 31. Because it was loved by readers, it was specially extended to April 10. To this end, major bookstores have increased holiday stocking, festive lanterns have been hung high, and readers’ favorite the Year of the Loong seal is waiting for everyone’s arrival.

　　In Beijing Book Building, a 18-meter-long "Gankun Ruilong" hanging in the shared space has an extraordinary momentum, which means that the dragon is auspicious and auspicious. On the first floor, holiday exhibitions and decorations are arranged around "the taste of the year in memory", and an immersive interactive experience area of "the taste of the year" is created in the form of "books+".In addition to a large number of carefully selected new books and good books, there are also concentrated exhibitions of Beijing culture, folk culture, new year gifts and other products. Xu Shen, deputy general manager of Beijing Book Building, said that the building extended its business on New Year’s Eve until 1 am on the first day of the first month, and it was open from the first day to the seventh day until 12 pm that day. "On New Year’s Eve, readers can come to watch the Spring Festival Gala, eat jiaozi, and participate in recreational activities such as solve riddles on the lanterns and throwing pots."

　　In the Liulichang store of China Bookstore, readers are beaming and come to buy books and the cultural and creative products of Dragon Elements. Liu Yichen, manager of Liulichang Store of China Bookstore, said that nearly 10 stores under the China Bookstore have integrated online and offline exhibitions of "Old Books and New Knowledge", including more than 10 kinds of old books such as epigraphy, edition of old books and classic comic books. In order to meet the needs of readers, China Bookstore has sorted out nearly 10,000 kinds of old books. (Lu Yanxia)

Detailed explanation of the regulations on the limit management of bank savings cards

In today’s financial field, the limit management of bank savings card is an important institutional arrangement, aiming at ensuring the safety of customers’ funds, preventing financial risks and maintaining the stability of financial order.

First of all, different banks may set different transfer limits for savings cards. Generally speaking, common transfer methods include counter transfer, online banking transfer, mobile banking transfer and ATM transfer. Take the counter transfer as an example, there is usually no strict limit, but it may be audited and managed according to the identity of the customer and the use of funds.

The online bank transfer limit is often different according to the customer’s security authentication method. For example, customers who use advanced authentication methods such as digital certificate and U shield may have a relatively high transfer limit; For customers who only pass simple authentication methods such as SMS verification code, the limit is relatively low.

There are also many regulations on the transfer limit of mobile banking. Some banks will set different limits according to the customer’s star rating, transaction records and other factors.

The ATM transfer limit is usually clear, and the daily cumulative transfer amount is generally limited. For example, the common limit is 50,000 yuan.

In addition, there are corresponding regulations on the limits of consumption payment. For example, when spending by credit card, different limits may be set according to the types of merchants and consumption scenarios. For some large consumption, it may be necessary to communicate with the bank in advance or carry out relevant authorization operations.

The following are examples of transfer limits of some common bank savings cards (for reference only, subject to the latest regulations of banks):

It should be noted that banks will make timely adjustments to the limit management regulations of savings cards according to factors such as market environment, risk status and regulatory requirements. If customers need to increase the limit, they can bring their valid identity documents, bank cards, etc. to the bank outlets to apply and handle according to the requirements of the bank.

In a word, it is of great significance to understand the limit management regulations of bank savings cards for customers to arrange funds reasonably, ensure the safety of funds and conduct financial transactions smoothly.

[Disclaimer] This article only represents the author’s own views and has nothing to do with Hexun. Hexun.com is neutral about the statements and opinions in this article, and does not provide any express or implied guarantee for the accuracy, reliability or completeness of the contents. Readers are requested for reference only, and please take full responsibility. Email: news_center@staff.hexun.com.

Information picture

In July, 2023, polymyxin B sulfate for injection, an exclusive drug produced by a subsidiary of Shanghai Pharmaceutical Group, suddenly announced that it had dropped from 2,303 yuan/branch to 270 yuan/branch, with a drop of nearly 90%, which attracted the attention of the industry.

The reporter learned from official website, State Administration of Market Supervision, that the decision of administrative punishment on the case of abuse of market dominance by four companies, such as Shanghai Shangyao No.1 Biochemical Pharmaceutical Co., Ltd., was recently released. According to the decision, in July 2023, the Shanghai Municipal Market Supervision Administration initiated an investigation into the abuse of market dominance by four companies, including SAIC Biochemical. In December 2023, Shanghai Municipal Market Supervision Administration made an administrative punishment decision on this case according to law. The punishment decision shows that during the period from December 2017 to June 2023, four pharmaceutical companies abused the dominant position in the market of polymyxin B sulfate for injection in China, and implemented the behavior of selling preparations at unfairly high prices, which excluded and restricted market competition and harmed the interests of patients and social public interests.

Well-known anti-monopoly law experts pointed out in an interview that the above four companies were fined 1.219 billion yuan for violating the Anti-monopoly Law of the People’s Republic of China, which is the case with the largest amount of anti-monopoly punishment in the pharmaceutical field at present.

Monopolize the API market

Polymyxin B sulfate for injection plays an important role in the treatment of carbapenem-resistant gram-negative bacteria infection, which is highly dependent on hospitals and patients and difficult to be replaced by other drugs. Before 2017, no domestic company produced its raw materials and medicines and needed to import them from abroad.

According to the circular of the State Administration of Market Supervision, three private pharmaceutical companies, Wuhan Huihai Pharmaceutical Co., Ltd., Wuhan Kede Pharmaceutical Co., Ltd. and Hubei Minkang Pharmaceutical Co., Ltd., and the state-owned pharmaceutical company Shanghai Pharmaceutical Group Shangyao No.1 Biochemical Pharmaceutical Co., Ltd., abused the dominant position in the market of polymyxin B sulfate for injection in China and implemented the act of selling preparations at unfair high prices.

Wuhan Huihai, Wuhan Kede and Minkang Pharmaceutical (collectively referred to as Wuhan Huihai) have the same actual controlling shareholders, confused personnel and office locations, unified decision-making, division of labor and cooperation, jointly implemented the acts involved, and shared monopoly profits.

In order to introduce and control its raw materials, in 2010, Wuhan Huihai signed an agreement with Danish Yaseli Company to become the agent of Danish Yaseli China market. Since 2016, Wuhan Huihai has given the sales manager of Danish Yaseli China a benefit fee, asking him not to sell the API to other enterprises, thus controlling the supply of the whole API in China market.

On the other hand, Wuhan Huihai is busy looking for manufacturers. Because only the drug is qualified for production in China, it has not been put into production. Wuhan Huihaisui reached a cooperation intention with Shanghai Pharmaceutical Biochemical Co., Ltd. to supply raw materials to Shanghai Pharmaceutical Biochemical Co., Ltd., which was responsible for drug declaration and production, and granted exclusive distribution rights to its preparations, from which Shanghai Pharmaceutical Biochemical collected processing fees. Shanghai Pharmaceutical Biochemical applied for production qualification, and obtained the production approval from the Food and Drug Administration in 2017, becoming the only production enterprise in China.

According to the Shanghai Municipal Market Supervision Bureau, operators must first have APIs for R&D and production when entering the market, while Wuhan Huihai controls the supply of APIs in the China market, so it is difficult for other operators to obtain APIs. It is reported that this is the second time that Wuhan Huihai was punished by pharmaceutical antitrust in 2023. In May 2023, the State Administration of Market Supervision fined him 4,126,800 yuan. Wuhan Huihai Pharmaceutical Co., Ltd. was established in 2003 with a registered capital of 3 million yuan, and its legal representative is Li Meilin.

Conspire to earn excess profits

Shanghai Pharmaceutical Biochemical Co., Ltd. belongs to Shanghai Pharmaceutical Group, with total assets of 800 million yuan and registered capital of 225 million yuan.

When Wuhan Huihai signed a cooperation agreement with Shanghai Pharmaceutical Biochemical Co., Ltd., it was agreed that when bidding for preparations, the two sides would negotiate and communicate on matters such as bidding price and distributors, and jointly agree on bidding matters. According to the rules of drug sales, Shanghai Pharmaceuticals Biochemistry came forward to connect with the drug recruitment departments of all provinces in the country, made online quotations, and invoiced and sold them to circulation enterprises according to the instructions of Wuhan Huihai to obtain the sales income of preparations.

As the only operator who sells the drug, Shangyao Biochemical has the ability to influence and determine the key trading conditions such as sales price and sales quantity. The price of the drug was 2303 yuan/piece in Fujian province for the first time, and then it reached 2918 yuan/piece in Shanghai. Since then, the provinces have hung up their nets one after another, and the prices are mostly 2303 yuan/branch to 2918 yuan/branch. According to the instructions of Wuhan Huihai, Shanghai Pharmaceutical Biochemical Co., Ltd. supplies the goods to the circulation enterprises after deducting the distribution fee according to the hanging price.

In 2016, the state began to implement the "two-vote system" policy, that is, drugs are invoiced once from the production enterprise to the circulation enterprise and once from the circulation enterprise to the medical institution, with the aim of reducing the circulation of drugs and lowering the price of drugs. Limited by the "two-vote system", Wuhan Huihai can’t directly obtain the monopoly profit of preparation sales by buying low and selling high. To this end, Wuhan Huihai, with the cooperation of Shanghai Pharmaceutical Biochemical Co., Ltd., obtained monopoly profits from the raw materials link by inflating the sales price of raw materials.

Due to the large amount of payment for raw materials, Wuhan Huihai arranged for 38 pharmaceutical companies in Hubei and Jiangxi to increase prices step by step, and gradually pushed up the import price of raw materials purchased from Danish Yaseli Company from 73 yuan/g to 94 yuan/g to 18,000 yuan/g to 35,000 yuan/g, and sold them to Shanghai Pharmaceutical Biochemical Company to produce preparations, from which profits were made. This creates the illusion that the high drug price is due to the high drug price of raw materials.

Drive up drug prices for nearly six consecutive years.

According to the Shanghai Municipal Market Supervision Bureau, in 2022 alone, the illegal income of Wuhan Huihai was 610 million yuan, and that of Shanghai Pharmaceutical was 330 million yuan. The biochemical behavior of Wuhan Huihai and Shanghai Pharmaceutical Co., Ltd. constitutes the abuse of market dominance to sell goods at unfairly high prices.

It is reported that the cost of drug production is mainly composed of two parts: the cost of raw materials and the cost of biochemical workshop. According to the biochemical financial data of Shanghai Pharmaceutical Co., Ltd., the total production cost of this drug is about 8.6 yuan -14.6 yuan/piece, and the processing fee charged by Shanghai Pharmaceutical Co., Ltd. is from 140.4 yuan/piece -230 yuan/piece. Finally, the net price of the drug is as high as 2303 yuan/piece -2918 yuan/piece.

In addition, the domestic sales price of polymyxin B sulfate for injection is significantly higher than that of other countries and regions in the same period, which is about 35 to 44 times that of overseas products.

"The serious handling of this case corrected the illegal behavior in time, and the drug price dropped by nearly 90%. This safeguards the interests of consumers and the public interest. " In an interview, Wang Xianlin, a member of the Expert Advisory Group of the State Council Anti-monopoly Committee and vice president of china law society Economic Law Research Association, pointed out that the parties in this case abused their dominant market position to sell drugs at unfairly high prices. On the one hand, they distorted the market price formation mechanism of this drug and made its price seriously deviate from the normal level, which excluded and restricted market competition. On the other hand, it also makes patients have to pay higher prices, increases the cost of medication for patients, and seriously damages the interests of patients; It also increased the expenditure of the national medical insurance fund, which seriously damaged the public interest.

The reporter learned that after the above-mentioned case was investigated in July 2023, six senior executives of Shanghai Pharmaceutical Group were investigated. In September 2023, Pan Deqing, former vice president of Shanghai Pharmaceutical, Li Ping, general manager of Shanghai Shangke Pharmaceutical, Chen Binhua, former general manager of Shanghai Pharmaceutical Biochemical, and Huang Yuhui, former deputy general manager of Shanghai Pharmaceutical Biochemical, were investigated. In November, Zhou Jun, chairman of Shanghai Pharmaceutical, and Gu Haoliang, former vice president of Shanghai Pharmaceutical, were investigated.

1. In the medical expenses for serious illness, taxpayers are hospitalized at the end of the year and discharged at the beginning of the second year. How to calculate the deduction for such inter-annual medical expenses? Is it deducted separately in two years?

A: Taxpayers are hospitalized at the end of the year and discharged at the beginning of the following year. Generally, medical expenses are settled when they are discharged. Taxpayers who claim to enjoy medical deduction for serious illness shall be subject to the settlement time on the medical expense settlement form. Therefore, the medical expense expenditure belongs to the second year.

For example, if a taxpayer is hospitalized at the end of 2022 and discharged at the beginning of 2023, he can enjoy the deduction in 2024 if he meets the conditions of medical deduction for serious illness by the end of 2023.

2. Can I enjoy the deduction when I see a doctor in a private hospital?

Answer: For private hospitals included in the medical insurance settlement system, as long as the taxpayer’s medical expenses can be reflected and collected in the medical insurance system, the taxpayer’s expenses related to basic medical insurance can be deducted for serious illness according to regulations.

3. The husband and wife have serious medical expenses at the same time. If both of them are deducted from the husband, what is the deduction limit?

Answer: Husband and wife have eligible medical expenses for serious illness at the same time, so they can choose to deduct both of them from the husband’s side. The deduction limit is calculated separately. The maximum deduction for each person is 80,000 yuan, and the total maximum deduction limit is 160,000 yuan.

4. Special additional deduction for serious illness medical treatment, is it also necessary to deduct medical expenses for hospitalization, and medical expenses without hospitalization cannot be used as special additional deduction?

A: According to the Interim Measures, the medical expenses incurred by taxpayers related to basic medical insurance, after deducting the personal burden after medical insurance reimbursement (referring to the self-paid part within the scope of medical insurance catalogue), are deducted within the limit of 80,000 yuan. In other words, the medical expenses for serious illness only need to meet the above conditions, regardless of whether the taxpayer is hospitalized.

5. Does the out-of-pocket part of the medical deduction for serious illness include the out-of-pocket part under the deductible line of medical insurance reimbursement?

A: There is no provision for the deductible line of medical insurance reimbursement in the special additional deduction policy for serious illness medical care, so as long as it belongs to the deductible part within the scope of medical insurance catalogue.

6. How to inquire about medical expenses for serious illness?

A: You can download the "National Medical Insurance Service Platform" through your mobile phone, and after registration, you can query it through the "Annual Expense Summary Query" module on the home page. You can also fill in according to the medical service charges of seriously ill patients and the self-paid amount of personal burden within the scope of medical insurance catalogue on the bills related to medical insurance reimbursement.

Original title: "Error-prone points of special additional deduction for individual tax-medical treatment for serious illness"

Read the original text