In the first quarter, national tax revenue increased by 24.8% year-on-year and 4.3% year-on-year. Among them, domestic value-added tax increased by 23.9% year-on-year; the national general public budget expenditure was 5,870.3 billion yuan, a year-on-year increase of 6.2%. The “three guarantees” and other key points Expenditure grew rapidly, among which expenditures on education, health, social security and employment increased by 13.8%, 8.3%, and 6.1% respectively. (Website of the Ministry of Finance) ｜Reviews｜ The fiscal revenue in the first quarter achieved a year-on-year growth of 24.2%, mainly due to the low income in the same period caused by the new crown pneumonia epidemic last year. It is worth noting that due to the active securities market, the securities stamp duty in fiscal revenue increased by 94.2% year-on-year, and this item alone was a net income of 88 billion yuan. The increase in fiscal revenue has ensured that the country can continue to implement tax and fee reduction policies for small and medium-sized enterprises. Although the epidemic has passed, many small and medium-sized enterprises are still under tremendous pressure. Therefore, relevant policies will continue for some time. From this perspective, it is expected that the growth rate of fiscal revenue in the next quarter may be reduced. In the first quarter, the national per capita disposable income of residents was 9,730 yuan According to news on April 22, the National Bureau of Statistics updated and released data on the per capita disposable income of residents in 31 provinces in the first quarter, with Shanghai, Beijing, and Zhejiang ranking the top three. In the first quarter, the national per capita disposable income of residents was 9,730 yuan, a nominal year-on-year increase of 13.7%. The national median per capita disposable income of residents was 8,014 yuan, an increase of 12.7%. In the first quarter, the national per capita disposable income continued the trend of increasing quarter by quarter since the same period last year, maintaining stable and restorative growth. At the same time, on the basis of sustained and stable recovery of residents’ income growth, residents’ consumption expenditure rebounded sharply year-on-year. Data show that in the first quarter, the national per capita consumption expenditure was 5978 yuan, a nominal increase of 17.6%, and a decrease of 8.2% in the same period of the previous year. In terms of growth trends, in the first quarter, household consumption has reversed the four consecutive quarters of decline since the same period last year, showing a recovery growth trend. (China News Network) ｜Comments｜ Increase in national income is the guarantee for stable economic development. What’s exciting is that my country’s per capita income rose steadily last year. The first quarter’s household consumption data reversed the downward trend in the past year and started to grow, although it has not fully recovered to the level before the epidemic. It is foreseeable that stimulating the recovery of consumption is still the focus of the government’s work. However, judging from the recent central bank reverse repurchase and MLF’s stable style, monetary policy is quite cautious, and it is expected that there will be no much action in the near future. Therefore, there should be a relative slowdown in import and export, or some adjustments in taxation policies. Real estate tax is not included in this year’s legislative plan On April 22, the Standing Committee of the National People’s Congress announced the 2021 legislative work plan. In terms of tax legislation, it is clearly required that laws such as the Stamp Tax Law and the Customs Law be reviewed for the first time. However, in the real estate tax legislation that has attracted much attention from the market, this legislative plan is still not mentioned. In recent years, only the 2015 Legislative Work Plan of the Standing Committee of the National People’s Congress explicitly mentioned the real estate tax law as a preliminary project that year. Real estate tax will levy taxes on individual housing, so it has attracted much attention from the market. The current real estate tax legislation is drafted jointly by the Budget Working Committee of the Standing Committee of the National People’s Congress and the Ministry of Finance. In the legislative work plan of the Ministry of Finance this year, there is no mention of real estate tax legislation. (China Business News) ｜Reviews｜ The news of real estate tax has been so many years, the “boots” have never landed. This should be based on the fact that the market has only begun to recover after the current domestic epidemic, and there is a lack of a legislative social environment. After all, the impact of real estate tax on the real estate market is too great, which is not conducive to the orderly progress of the 14th Five-Year Plan. In addition, we must also see the trend of negative population growth. After ten or twenty years, housing demand will decrease, housing prices will inevitably be affected, and real estate taxes will also have an impact on the market. However, how to rationally allocate the real estate resources in hand is a problem that people need to consider now. The VAT exemption period for sales of houses in Guangzhou is increased to 5 years On the evening of April 21, the General Office of the Guangzhou Municipal People’s Government issued a notice on improving the policy for the steady and healthy development of the real estate market in Guangzhou. The notice clearly stated that the VAT exemption period for individual sales of houses in 9 districts including Yuexiu District, Tianhe District, and Baiyun District will be increased from 2 years to 5 years; in addition, talent purchasers must provide 12 consecutive months of payment of social guarantees, and no repayment is allowed. The above policy will be implemented on April 22. This is after the beginning of April, Guangzhou has introduced another property market regulation and control policy. On the evening of April 2nd, Guangzhou issued a document stating that newly purchased housing (including newly-built commercial housing and second-hand housing) by enjoying the talent policy will extend the sales restriction period from 2 years to 3 years. (Broker China) ｜Reviews｜ This time Guangzhou further introduced a regulatory policy, which should be in response to the request of the Ministry of Housing and Urban-Rural Development. Earlier, Guangzhou was one of the five cities that the Ministry of Housing and Urban-Rural Development asked to resolutely curb speculative real estate speculation, which shows that there is still pressure on its property market regulation. In fact, among the five cities interviewed, only Dongguan’s property market regulation is relatively strict, and the four cities including Guangzhou are relatively loose. Guangzhou’s upgraded regulatory policies have also filled a loophole in talent purchases. Talent purchases must be paid for one year of social security, which can stop the behavior of “fake talents” in real estate speculation, which has a clear direction. TeslaPublish pre-accident data of rights protection vehicles At about 4:30 pm on April 22, Tesla disclosed the data one minute before the accident of the Shanghai Auto Show rights protection accident vehicle, and made a text explanation. The note pointed out that when the driver stepped on the brake pedal for the last time, the data showed that the speed of the vehicle was 118.5 kilometers per hour. After the driver stepped on the brake pedal, the vehicle speed continued to decrease, and before the collision, the vehicle speed was reduced to 48.5 kilometers per hour. In addition, with regard to the condition of the vehicle 30 minutes before the accident, Tesla said: In the 30 minutes before the accident, the driver drove the vehicle normally and had more than 40 records of depressing the brake pedal. More than 100 kilometers per hour and multiple stops occurred. (Comprehensive China Market Supervision News) ｜Reviews｜ Under the high attention of the whole society, Tesla finally announced the technical data and text descriptions before the accident vehicle accident. From its unilateral discussion, it does not seem to be like the brakes that the rights defenders claimed before. , More like the driver himself is suspected of speeding. Of course, this is only a side word of the enterprise, and then a third party is required to participate in the test before an authoritative conclusion can be made. However, if the facts are that there are operational problems with the rights protection vehicles themselves, then Tesla cannot be blamed blindly. After all, what we ultimately hope to see is a fair and reasonable result. Tsinghua University established “Chip Academy” On April 22, the School of Integrated Circuits of Tsinghua University was formally established. In the future, it will be committed to solving the “stuck neck” problem of current chips, and is determined to prevent China’s semiconductor industry from being “stucked” in the future. The college will become an important base for my country’s integrated circuit talent training, and is expected to provide strong talent support for the localization of the semiconductor industry. According to incomplete statistics, there are as many as 27 well-known Tsinghua-based chip companies with a total market value of 600 billion yuan. In the most cutting-edge chip research in the world, the Tsinghua team has also achieved fruitful results. (China Youth Network) ｜Reviews｜ The global “chip shortage” crisis that began in the first half of 2020 has made China more aware of the importance of chips, and at the same time, it also realizes that in these core industries, it cannot be stuck. Taking advantage of this moment, China must be more aggressive, cultivate its own chip talents, and build its own chip industry chain. Of course, this will not happen overnight, but no matter how difficult it is at the beginning, we must take a step forward. Taking a path of your own semiconductor industry, the establishment of a “chip academy” is only one step, and there are many other things to do. Beijing Culture (000802.SZ)Law Enforcement Corps: To Douyinquick workerKey supervision On April 22, at a press conference on the status of intellectual property protection in Beijing, Wang Ningzhi, deputy chief and second-level inspector of the Beijing Cultural Market Comprehensive Law Enforcement Corps, stated that the Cultural Market Comprehensive Law Enforcement Corps continued to strengthen the classification and supervision of websites and monitor the Internet. The entire network is dynamically monitored in key areas such as literature, video, music, animation, and games.IQIYI, Douyin, Kuaishou and other nationally influential video websites are under key supervision. The Beijing Cultural Market Comprehensive Law Enforcement Corps will inspect 18,000 websites (times) in 2020, close 13 infringing and pirating websites, deleting 8 million infringing and pirating links, and destroying more than 200,000 infringing and pirated books. (Comprehensive Beijing Business Daily) ｜Reviews｜ The short video industry is in full swing, and the corresponding intellectual property issues have also attracted attention. In particular, some short video websites used extensive use of film and television material from the media, which, strictly speaking, constituted infringement and caused strong dissatisfaction in the film and television industry. Relevant departments are focusing on supervision of video websites with national influence such as Douyin and Kuaishou because of their large number of users, fast transmission speed, and wide range, which can achieve a multiplier effect with half the effort. In this regard, relevant platforms should be highly valued, otherwise it may have a serious impact on its content production and industrial development. The three major A-share indexes split again on Thursday On April 22, the three major indexes opened higher and dived to a collective green after the opening. In terms of sectors, the medical aesthetics concept sector continued to be strong, and the steel sector led the two markets; nearing the end, the index rebounded.gemThe performance was relatively strong, rising by more than 1% at one time. In terms of sectors, the food and beverage sector was strong, while the liquor sector fell. In the afternoon, the three major indexes continued to trade sideways. The trend of the indexes remained differentiated. The ChiNext board performed strongly. In terms of sectors, the medical and aesthetics sector continued its strong momentum, the digital currency moved up, and the semiconductor sector collectively strengthened. As of the close,Shanghai IndexFell 0.23% to 3465.11 points, with a turnover of 317.1 billion yuan;Shenzhen Component IndexIt rose 0.41% to 14,209.44 points, with a turnover of 423.8 billion yuan; the Chuang Index rose 0.77% to 2939.39 points, with a turnover of 145.4 billion yuan. (Sina Finance) ｜Reviews｜ On Thursday, the A-share market showed another trend of differentiation between Shanghai and Shenzhen. The downturn in the weight sector made it more difficult for the index to break through. However, there was no deep intraday correction during the shock period, indicating that the current market atmosphere is still warm , The probability of selecting the direction upward after the adjustment is over is increasing.The profit-making effect in terms of disk characteristics is not yetIdeal carThere is no change in hotspots with sustainability. Other news-driven hotspots have little value. The continuity of individual industries (such as steel and securities firms) remains to be observed. The rapid recovery of China’s economy in the post-epidemic era shows that many industries that have rebounded at a high speed have already had a clear response to their share prices. You might as well pay attention to related sectors. The content of stock market and futures in the article is for reference only Does not constitute investment advice Duty Editor | Chen Wei | Chen Zhe | Column Editor | Wei Yingjie Chief Editor | He Mengfei | Chief Editor | Zheng Yuanmei

One test site COVID-19 in Brazil. (Photo: THX / TTXVN) On April 23, credit rating agency Moody’s warned that the Brazilian government’s failure to impose ceiling regulations on public spending on support for people and businesses affected by the COVID-19 pandemic would Negatively affect the credit profile of this country. Moody’s Vice President Samar Maziad said that the credit rating agency kept its assessment of Brazil’s solvency at “Ba2” with a stable outlook. However, Mr. Maziad said that the Brazilian government’s view of the pandemic as an exception in order not to apply regulations on the public spending ceiling, will adversely affect the credit rating of the country’s ability to pay debts . In addition, Moody’s Vice President Samar Maziad also highlighted the expectation that the Brazilian authorities will maintain their previous commitment on the issue. consolidate fiscal year in the coming years. In 2020, the budget deficit of Brazil has reached the equivalent of 14% of Gross Domestic Product (GDP), making the public debt of Latin America’s largest economy a record 90% of GDP. The poor fiscal situation in the past year was due to the fact that the government had to increase public spending in order to reduce the economic impact of the COVID-19 epidemic on citizens and businesses. On April 7, in the context of a strong outbreak of COVID-19 across the country, the Brazilian government had to resume an emergency assistance program for the poor to overcome the effects of pandemic COVID-19 with a budget of about 8 billion USD./.

Produced | Sohu Technology

Edit | Liang Changjun

On April 13, Lenovo Group held an online oath meeting for the fiscal year 2021/22. Lenovo Group Chairman and CEO Yang Yuanqing said that the total turnover in the first three quarters of the 20/21 fiscal year increased by 12% year-on-year, and the pre-tax profit increased by 48%, which is expected to reach a new milestone in the full fiscal year.

“Last year, due to the epidemic and other uncertainties, we froze salaries and promotions. In the new fiscal year, we should be promoted, and the salary should be increased.” Yang Yuanqing said. He also mentioned that he will work hard to realize the “rediscovery” and “revaluation” of Lenovo in the capital market.

In January this year, Lenovo announced that it would issue China Depository Receipts (CDR) and apply for CDR listing and trading on the Shanghai Stock Exchange Science and Technology Innovation Board, and enter the listing guidance period at the end of the month. Yang Yuanqing said that this will not only enhance the diversified optimization of the company’s capital structure, but also give small partners the opportunity to participate and further benefit from the company’s development.

Regarding the development trend of the post-epidemic era, Yang Yuanqing believes that the information industry is currently facing three major upgrades. One is the upgrading of information consumption. In the new normal of remote work, online learning, and home entertainment, everyone will have more smart devices and spend more time on them, and device replacement and upgrades will be more frequent. The mature market is the transition from “one family, one computer” or tablet to “one person, one computer”. In emerging markets, it is a transition from “one person, one mobile phone” to “one person, one mobile phone and computer or tablet”.

Yang Yuanqing said that Lenovo will continue to work on the expansion from computer to computing, so that more “dumb terminals” in the past will become smart, and will provide solutions for smart collaboration, smart meetings, etc., combined with AR/VR technology to make remote collaboration change It’s more convenient and efficient.

The second trend is the upgrading of information infrastructure. In the past, customers purchased traditional IT infrastructure such as servers, storage, and networks, which were product-oriented. Today, customers buy computing power and solutions, which are application- and service-oriented. What they need is the design and construction of infrastructure , The service of the whole process of operation and maintenance.

Yang Yuanqing believes that Lenovo has a unique positioning in this field. The ISG Infrastructure Solutions Business Group can not only provide traditional data center products, but also private cloud and public cloud infrastructure, achieving full coverage from edge computing to cloud computing; It can not only reach SMEs directly, but also serve large-scale enterprise-level customers.

“Our path is a comprehensive solution, not only hardware product sales, but also three links: consulting, construction and implementation, and operation and maintenance services. In fact, this is exactly what we changed DCG to ISG infrastructure solution business. The main reason for the group.” Yang Yuanqing said.

The third trend is the application upgrade from digitization to intelligence. The core is artificial intelligence, based on the three major elements of data, computing power and algorithms. The data in the digital and intelligent era does not only come from smart devices, information systems and the Internet, but more from the Internet of Things equipment. Medical equipment, machine tools in workshops, turnstiles in airports and railway stations, etc., can all become Intelligent terminal for collecting industry data.

Yang Yuanqing said that simple storage and calculation can be done on the “end”, but more needs to be done on the cloud. To connect the “end” and the “cloud”, the “network” of high-speed transmission is indispensable. With the great development of 5G and the Internet of Things, if all terminal “end” data is sent to the cloud for calculation and then the results are returned, it will inevitably cause network traffic jams or delays. Therefore, a kind of between “end” and “cloud” The calculation between the “edge” margin calculations came into being.

Finally, algorithms are needed to learn the logic of existing processes and decision-making methods and provide reasoning, working with data and computing power at the same time to make smart solutions possible, such as smart manufacturing, smart education, smart retail, and so on. “This is the intelligent transformation, which is what we call the’new IT’. It can be said to be a perfect fit with the’new infrastructure’ pushed by the country.” Yang Yuanqing said.

It is understood that in order to grasp the above three trends, Lenovo has taken the initiative to reform and reorganize its structure. In February of this year, Lenovo announced a new organizational structure plan and established a new business group: Solution Service Business Group (SSG). After the establishment of this new business group, Lenovo’s core business will consist of three major business groups, including the Intelligent Device Business Group (IDG) focusing on the Internet of Things, the ISG Infrastructure Solutions Business Group (renamed from DCG) focusing on intelligent infrastructure, and SSG Group.

Yang Yuanqing also put forward goals for the new fiscal year. He hopes that the PCSD team in IDG will maintain industry-leading profitability, all customer categories will become global champions, and mobile business will maintain profitable growth; ISG will maintain double-digit year-on-year growth; SSG will create 5 beacon-effects , Reproducible vertical industry solutions, revenue growth has reached twice the company’s overall growth rate. In addition, China and international sales organizations support ISG and SSG to achieve more than 20% business growth together.

On April 13, Lenovo’s Hong Kong stocks continued to rise after the market opened. As of press time, they rose by more than 2%. The company’s share price has doubled since last year.