Reporter | Hu Yingjun

The second bank’s wealth management subsidiary was approved during the year.
On June 21, the official website of China Banking and Insurance Regulatory Commission issued the “Approval for the Establishment of Hengfeng Wealth Management Co., Ltd.”, agreeing to Hengfeng Bank’s investment of 2 billion yuan to build Hengfeng Wealth Management Co., Ltd., and the required funds should be allocated from the capital. Hengfeng Bank shall handle the preparatory work in strict accordance with the requirements of relevant laws and regulations, and complete the preparatory work within 6 months from the date of approval. The preparation work accepts the supervision and guidance of the China Banking and Insurance Regulatory Commission. During the preparation period, no financial business activities are allowed. After the completion of the preparatory work, an application for opening business shall be submitted to the China Banking and Insurance Regulatory Commission in accordance with relevant regulations and procedures.
Hengfeng Wealth Management is the second bank financial management subsidiary approved after Bohai Wealth Management in 2021. This also means that among the 12 national joint-stock banks, 11 bank financial management subsidiaries have been approved.
According to Jiemian News reporter, Hengfeng Wealth Management is registered in Laoshan District, Qingdao. This is also the second bank wealth management subsidiary registered in Qingdao in addition to Everbright Wealth Management.
A relevant person from Evergrowing Bank stated that expanding retail is a major strategy that the bank has always adhered to. The closed-end wealth management products launched by the bank, such as the Great Profit series and the Zengxiang series of wealth management products, and the open-end wealth management products such as the Hengmeng wallet, the progressive T+1 gain-winning series, and the Hengxin series of net wealth management products, are both profitable. And liquidity, which can meet the wealth management needs of different types of customers, has always been popular in the market. The establishment of a wealth management subsidiary has been approved, which has opened up a broad space for Evergrowing Bank to expand its retail business and expand its asset management landscape. Hengfeng Wealth Management will be guided by the steady value-added of management assets, taking digital transformation as an opportunity, and agile services as a means, focusing on improving investment and research capabilities and risk control capabilities, resolutely returning to the business origin of asset management, and taking serving the real economy as the foundation and working hard to achieve Customers provide long-term stable returns.
Hengfeng Bank is one of 12 national joint-stock commercial banks, formerly known as Yantai Housing Savings Bank established in 1987. In 2003, approved by the People’s Bank of China, it was restructured into Evergrowing Bank Co., Ltd. In 2019, the market-oriented reform stock reform account was completed, and Central Huijin became the largest shareholder.
Hengfeng Bank is headquartered in Jinan, Shandong, and has 310 branches across the country. Financial data shows that as of the end of 2020, Hengfeng Bank’s total assets reached 1.1 trillion yuan, and its operating income was 21 billion yuan, a year-on-year increase of 53%. Net profit was 5.3 billion yuan, a year-on-year increase of 703%. The provision coverage ratio was 150.37%, an increase of 29.54% from the end of 2019. The non-performing loan ratio was 2.67%, a decrease of 0.71 percentage points from the end of 2019, achieving a decline for two consecutive years.
At the end of the reporting period, the scale of various wealth management products maintained by Hengfeng Bank was RMB 110.685 billion. Among them, the pressure on capital preservation and financial management dropped to zero

Photo: The Verge Microsoft will end support for Windows 10 on October 14, 2025. That marks more than 10 years since the operating system was first introduced. This is the first time Microsoft has officially confirmed the end of support for Windows 10. Microsoft keeps giving hints about Windows 11 Microsoft has made many hints that it is ready to launch Windows 11. The software giant is holding a special Windows event to reveal the “next generation” of this operating system next week. The event started at 11 a.m. ET or around 10 p.m. the same day in Vietnam. Microsoft executives have also been making announcements about the “next generation of Windows” for months, and one CEO even described it as a “new version of Windows” recently. Microsoft also introduced Windows 11 in an 11-minute video last week. Many users expect Microsoft to announce a new version of Windows with significant user interface changes and an overhaul to the Windows Store. Microsoft has been working on a new code called “Sun Valley”, perhaps this is a new version of the operating system that the company has called “a complete visual rejuvenation of Windows”. Microsoft originally scheduled the end of support for Windows 10 to be October 13, 2020. However, Microsoft said this is the period when the company does not add new features to the operating system and only maintains support with those. bug fixes and security patches. Windows 10 is an unusual version of the operating system for Microsoft because it has fallen outside the cycle of releasing new operating system versions every few years like other companies. Instead, Microsoft has been updating Windows 10 continuously twice a year with new features. Microsoft used to call Windows 10 the “final version of Windows,” but it’s been almost six years since its release and Microsoft seems ready to move on to something new.

Withdrawing troops from Afghanistan, the US is still concerned about al-Qaeda. (Source: Reuters) In a report to the National Assembly entitled “Strengthening security and stability in Afghanistan”, the US Department of Defense emphasized: “The Al-Qaeda terrorist group still poses a threat to its soldiers and US allies in Afghanistan through ongoing interaction with local Taliban chiefs ”. Earlier this month, US President Joe Biden approved the complete withdrawal of US troops from Afghanistan by 9/11. Same day, CNN quoted three US defense officials as saying that some of the US military equipment began to be shipped out of Afghanistan, which were unnecessary equipment and supplies, which were not destroyed or transferred to the force. Afghan security. Meanwhile, outdated equipment will be destroyed. This is the first move by the US military since President Joe Biden last week announced details of a plan to withdraw troops from Afghanistan with a deadline of 9/11, the full 20 years of the crisis. father in 2001 and also the event that sparked the US war in this southwest Asian country. (Reuters)

Phan Sao Nam at the trial of the first instance Accordingly, Senior Judge Hoang Van Tien, Chief Justice of the People’s Court of Quang Ninh province, said that inmate Phan Sao Nam was arrested and detained on October 27, 2017, serving a prison sentence at Quang Ninh Detention Center under the Ministry of Public Affairs. Security from September 17, 2019. In the process of serving the sentence, inmate Phan Sao Nam has clearly recognized his guilt, actively studied, renovated, strictly observed the laws and rules of the detention facility, has been continuously ranked emulation with “Fair” results (with the Emulation classification decisions attached); and have the first successful record (helping the Investigation Agency to mobilize the subject Le Van Kien who is having an international wanted order to surrender – Document No. 851 / GXN-ANĐT dated 20/11/2019 of Department of Security and Investigation of the Police of Phu Tho province). Civil liability part: Phan Sao Nam has executed more than 1,314 billion VND, including first-instance criminal court fees, illicit profits that the Court is forced to return and more than 387,966,943,921 VND confiscation to supplement the State fund (equal to 89.1% of the obligation). The amount of inmate Phan Sao Nam still has to execute is more than 160 billion VND. After studying the proposal, the opinion of the representative of the People’s Institute of Quang Ninh province at the meeting, the Council to consider reducing the time limit for serving the prison sentence of the People’s Court of Quang Ninh province found that the dossier was made in accordance with the order customary, on time, right authority; prisoners have served more than 1/3 of the sentence (2 years, 5 months and 1 day in prison); During the renovation, there were many progresses; has partially compensated civil obligations (more than half of the obligation); has made a mark; and was proposed by the Quang Ninh Detention Center to reduce the prison term, with an appropriate recommendation. In comparison with the provisions of the law, the Reduction Review Council accepted the proposal of the Quang Ninh Detention Center, reducing the 19 months imprisonment term for inmate Phan Sao Nam. During the next serving period, inmate Phan Sao Nam was very active in reforming and made the second time (helping the Investigation Agency to mobilize the object of Phan Anh Tuan who was hiding abroad to surrender – document) confirmation number 725 / GXN-ANĐT dated September 18, 2020 of the Security and Investigation Agency of the Police of Phu Tho province). As for civil liability, inmate Phan Sao Nam continued to actively mobilize his family to help Nam fulfill the remaining civil liability with the State, having paid more than 5.3 billion VND. On October 14, 2019, the South’s inmate’s family wrote an application to present his extremely difficult economic situation and had not yet been able to continue performing his civil obligations under the Court’s judgment. The application is certified by the People’s Committee of Da Kao ward (District 1, Ho Chi Minh City). Thus, as of October 16, 2019, inmate Phan Sao Nam has served more than 1,300 billion VND out of a total of more than 1,475 billion VND (equal to 89.48% of the obligation); the amount of money still enforced by Nam prisoners is more than 155 billion. On January 15, 2021, Quang Ninh Detention Center made a request to consider reducing the prison term for inmates, with the recommendation of 2 months. The application has been appraised and approved by Department C10, Ministry of Public Security, and is inspected by the People’s Institute of Quang Ninh province in accordance with the law. After considering the proposal to reduce the prison term of Phan Sao Nam, the recommendation of the representative of the People’s Procuracy of Quang Ninh province at the meeting, the Council to consider reducing the time limit for serving the prison sentence of the People’s Court Quang Ninh province found that after being considered for the first reduction, inmate Nam has been consistently classified as a Fair reformer, and continues to actively overcome the consequences of his crime. Up to the time of the second reduction consideration, the remaining prison term is less than 1 year. Comparing the provisions of the law, inmate Phan Sao Nam is eligible to be reduced to the second serving term of imprisonment one time before one round. If he accepts the Camp’s proposal, Phan Sao Nam will receive a second reduction of his sentence, but he still has a practical time limit to serve more than of the penalty declared, in accordance with Clause 2, Article 63 of the Penal Code ( up to the time of the second reduction consideration, inmate Phan Sao Nam has practically served 3 years and 3 months 8 days in prison, also has to serve 1 month and 22 days in prison). Comparing the provisions in Article 63 of the Penal Code, Article 38 of the Law on Execution of Criminal Judgments, the Judgment Reduction Council decides to accept the request of Quang Ninh Prison and reduce the remaining prison term for inmate Phan. Sao Nam in Decision No. 80 / QD-TA dated February 4, 2021 because the remaining imprisonment term is lower than the reduction proposed by the Prison and the Procuracy.