In terms of sectors, the electronics and automotive sectors bucked the market and rose, while the leisure services and non-ferrous metals sectors fell by more than 3%.

After the Dragon Boat Festival, the rainy season rained and wet the A shares. The high shock before the holiday was “inspiring”, and the plunge after the holiday was “sad”. On June 15, the first trading day after the Dragon Boat Festival, the performance of A shares was “unsatisfactory.” The two markets traded over one trillion yuan, and large market value stocks plummeted significantly.

What is the main logic of the A-share market opening on the first day after the holiday? From the perspective of fundamentals, valuation, liquidity, etc., what is the expected A-share market in the second half of the year? How to choose between large, medium and small market value and sectors?

“International Finance News” reporter interviewed several industry insiders. In their opinion, the current A-shares do not have the conditions for the index to rise sharply, and the hotspots collectively fell again, and the index continued to wash up and gather momentum. The upward momentum of the economy is still weak, liquidity is restricted, and equity market valuations are not low. In the second half of the year, income expectations should be lowered.

The first day after the holiday market “green fat red thin”

On June 15th, the three major A-share indexes rebounded slightly after falling in early trading, and then maintained a low and volatile trend, and the decline narrowed. As of the close, they all fell by about 1%. The Kechuang 50 Index bucked the market and opened higher and then fell back to close up.

In terms of sectors, the electronics and automotive sectors bucked the market and rose, while the leisure services and non-ferrous metals sectors fell by more than 3%. The performance of individual stocks was “green, fat, red and thin”, with 1351 individual stocks rising and 67 daily limit stocks; 2913 individual stocks falling, and 27 falling limit stocks.

In terms of popularity, the turnover of the two cities exceeded one trillion yuan, a slight decrease from the last trading day before the holiday. The net outflow of Beishang capital was 5.2 billion yuan, mainly reducing its holdings of WuXi AppTec, Zijin Mining, Ping An, etc., each of which exceeded 500 million yuan; Beishang capital also “started” Yanghe shares and BYD, and the net sales were about approximately 300 million yuan.

In the first half of the year, a total of 208.3 billion yuan of net inflows of funds from the north, including 88.8 billion yuan in Shanghai Stock Connect. Since June, the net inflow of funds from Beijing to Beijing is 1.5 billion yuan, of which Shenzhen Stock Connect has a net inflow of 1.4 billion yuan.

What is the main reason for the market decline after the holiday?

Qianming Asset Management Fund Manager Bai Yi analyzed to a reporter from the International Finance News that today’s market’s hot cyclical stocks and the concept of Hongmeng fell collectively, and the bull market trend sector securities also appeared to sell off. The deep-seated logic is that there are currently no conditions for the index to rise sharply, and the hotspots collectively fell again, so the index continues to wash up and gather momentum.

“The Shanghai Index fell below the 20th line on the first day after the Dragon Boat Festival, which exceeded most investors’ expectations.” Liu Youhua, head of research on private equity rownets, also told reporters that in terms of popularity, the turnover of the two markets still exceeded one trillion yuan. , The market is still hot, but structural opportunities are more difficult to grasp. In terms of liquidity, over-issuance of foreign currencies has led to global inflation expectations, while the continuous appreciation of the renminbi has led to continued inflows of foreign capital. This expectation will still exist in the second half of the year. From the perspective of individual stock fundamentals, the profitability of most individual stocks has improved, and the semi-annual report will be the focus of the market.

Wang Jiang, general manager of Yuanrong Investment’s stock department, said in an interview with a reporter from the International Finance News that the market tends to choose the direction of least resistance in the short term, which has a certain degree of randomness. On the macro level, the market focuses on US employment data. If employment is weak, the expected contraction of the balance sheet will be delayed, which is conducive to the stability of the valuation level. However, as time goes by, the window of desensitization of inflation data and employment data has not yet recovered is being consumed, and as the Fed’s interest rate meeting approaches, the market will inevitably be worried. “As far as the second half of the year is concerned, there are macro variables, and the current equity market valuation is hardly cheap, and it is reasonable to reduce income expectations. In terms of sectors, the optional consumption branch in the increase in penetration rate and the disturbance of raw material prices The sub-manufacturing sectors that have little real impact can be paid attention to.”

How to switch between large and small market capitalization opportunities

In the first half of the year, the Shanghai Composite Index rose more than 4%, the ChiNext Index rose more than 11%, and the Shanghai and Shenzhen 300 Index and the China Securities 1000 Index both rose more than 2%. Since June, there has been a significant gap in the index of individual stocks representing large, medium and small market capitalization. The Shanghai and Shenzhen 300 Index fell nearly 1% during the year, the Shanghai 50 Index fell more than 3%, and the CSI 1000 Index rose 2.5%.

How to choose large, medium and small market capitalization stocks in the second half of the year?

“Currently, large blue chips and Baotuan stocks are at historical highs, and the probability of shock adjustments in the second half of the year is relatively high; but small market capitalization, second-tier blue chips, and the financial sector are again in the historical underestimation range, and there is an upward trend in the second half of the year. The biggest opportunity in the second half of the year. The risk is the valuation of U.S. stocks, which severely restricts the rise of the big blue chips of A shares.” Bai Yixiang “International Finance” reporter estimated that in terms of liquidity, the central bank is expected to continue to implement moderate monetary policy, and foreign capital will continue to flow into A shares. tendency. On the whole, the index fluctuated more in the second half of the year. Focus on the upside opportunities of undervalued companies. On the sector, it is recommended to pay attention to TMT, domestic substitution, and post-epidemic sectors such as tourism, airports, ports, etc.

Lang Chengcheng, director of the research department of Furong Fund, bluntly stated to the reporter of “International Finance” that the market was mainly high and volatile last week, and structurally small and medium-sized market capitalization companies rose at the top. In fact, since May, from the rotation of large market value companies to small and medium market value companies, both types of companies have seen a certain degree of rise. The core logic is to restore the pessimistic expectations of liquidity. “As the semi-annual report and the 100th anniversary of the founding of the party approach, the round of rising prices may have reached the middle and late stages, and market volatility will increase. Small and medium-sized market value companies under the catalysis of the theme should be treated with caution.

“In the short-term, it is recommended to moderately control the investment rhythm, and be optimistic about low-value banks and some cyclical leaders; in the medium and long term, performance growth is still the core main line, and we are optimistic about the high-period cycle of electronics and electronics.” Lang Chengcheng further analyzed, economic fundamentals. Financing data reflect that the upward momentum of the economy is still weak, the scale of new social financing has fallen sharply year-on-year, and the year-on-year growth rate of the stock of social financing has also continued to decline. The South China Industrial Products Index has risen to a high level again. Last week, the US CPI rose by 5% year-on-year in May, exceeding expectations and setting the largest increase since August 2008. However, the yield of Treasury bonds has continued to decline since then. Compared with inflation, the Fed pays more attention to employment and economic recovery, focusing on the Fed’s interest rate meeting this week.

Institutional view: not overly optimistic in the second half of the year

In terms of sectors, cyclical stocks such as steel, mining, chemical, non-ferrous metals and other cyclical stocks ranked first in the year’s component range (total market value weighted average), with a rise of more than 14%; non-banking finance, defense and military industry, and household appliances all fell more than 11%.

In terms of price-to-earnings ratio PE (TTM, holistic approach), science and technology sectors such as computers, national defense and military industries, transportation, communications, electronics, and medical biology exceed 50 times, of which media, leisure services, and integrated sectors exceed 240 times. The lower valuations are steel, mining, non-banking finance, etc., less than 20 times, and banking, building decoration, and real estate sectors are less than 10 times.

How to choose sector investment in the second half of the year?

Chen Li, chief economist of Chuancai Securities and director of the research institute, predicts that in the second half of the year, sector rotation will become more frequent and structural differentiation will continue. Unlike last year’s single valuation drive and the dominant performance drive in the first half of this year, the market in the second half of the year will no longer be a competition among various industries, and more inclined to comparisons within the industry, with low internal valuations and growth rates. The fast company will become the leader, and vice versa, it will continue to fall. For example, the growth of mid-to-high-end liquor in the liquor industry is expected to have strong certainty; under the background of “carbon neutrality”, the new energy industry is expected to diverge, focusing on both the technological path and cost advantages; Pay attention to the three links.

Looking ahead to the second half of the A-share market, the strategy team of Ping An Securities predicts that the overall market will fluctuate upwards in the second half of the year, and will lay out structural opportunities for growth styles. The economy is basically facing the upward pressure of the market, and there are corresponding constraints on liquidity. However, continued favorable policies and funding levels in the second half of the year are expected to continue to increase risk appetite. Equity valuation is not overly optimistic from the perspective of equity-bond yield ratio and earnings expectations. . It is recommended to pay attention to the proliferation of new energy vehicles, new energy, semiconductors, new chemical materials, biomedicine and other industries, as well as the proliferation of investment opportunities for more companies in the high-prosperity industry chain.

Northeast Securities bluntly stated that the leading factor in the market in the second half of the year will be the topping of profits, and the overall market valuation will be difficult to increase, and low-value and high-prosperity industries will prevail. The market fluctuated in the second half of the year. From the perspective of profit calculations, the profit growth rate in the second half of the year is decreasing quarter by quarter. In terms of funding, the US Taper expectations and the decline in domestic credit entering the second half of the year led to tight macro liquidity in the second half of the year; the stock market remained neutral in the second half of the year, mainly due to the increase in the issuance of new funds at the inflow side and the slowdown in foreign capital inflows. The outflow-end IPO fundraising rose, and the lifting of the ban fell. In terms of valuation and sentiment, the advantages of small and medium-cap valuations are obvious and the position of individual stocks is still low; Sino-US relations and credit risks may still suppress risk appetite.

Cambodia’s Angkor Wat temple complex was bustling with tourists. (Photo: Asia Times) The Chinese ambassador is said to have repeatedly said that this data is needed to help Beijing monitor the movement of people between the two countries, but the reality is that China is now imposing strict quarantine measures. strict for visitors and the two countries do not share borders According to reports, people who install the Stop COVID-19 app when entering a specific location will receive a message of a 6-digit sequence via phone. They need to enter this code to be granted entry. In this way, a digital log is created to record and track the user’s location based on the phone where the app is installed, as well as their behavior and relationships. Sources said that Ambassador Wang and other Chinese officials offered to assist the Cambodian Ministry of Post and Telecommunications in upgrading the current QR system with Huawei’s modern digital technology. Last year, China also made a similar offer to Thailand to access two movement tracking apps “Thai Chana” and “Mor Chana”. Chinese agencies are said to have requested access to information about foreigners in Thailand. The Chinese official told Thai authorities that any decision on allowing Chinese tourists to return to Thailand would also depend on sharing information on the Thai Chana and Mor Chana apps. Beijing has a bargaining chip when it comes to this proposal. In 2019, when the pandemic had not yet begun, Thailand welcomed 11 million Chinese tourists, more than any other country. Tourism accounts for nearly 20% of Thailand’s GDP and is currently suffering extremely serious damage because of restrictive measures to deal with the epidemic. However, Thailand has dodged this sensitive offer from China thanks to skillful diplomacy, the sources said. Thai people say that it is difficult to gather all the information in one application because the information is stored in many different databases. Cambodia is even more dependent on Chinese tourists. Out of a total of 5.29 million visitors to Cambodia in 2019, 2 million were from China. Tourism accounted for 32.7% of Cambodia’s GDP that year, but has been virtually crippled by the pandemic so far. Experts say Cambodia’s vulnerability and strategic location make it one of the focus of China’s influence efforts, as well as a target China wants to monitor, especially is with sensitive people in government and armed forces.

Intel is pushing partners to sell Intel Evo laptops using Tiger Lake chips. In 2020, Intel launched the 11th generation Intel Core mobile processors collectively known as Tiger Lake. This new chip is introduced with outstanding performance, real-world battery life of 9 hours or more using FHD screen, fast charging and stable response. The Intel Evo concept is a standard set for all high-end laptops equipped with this new line of Intel chips. Continuing from 2020, this year Intel has a plan to develop and boost sales for the Intel Evo brand. Intel’s partners will also be part of the plan, and Intel wants to give them promotional tools to sell more devices. Reply CRN Steve Long, Intel’s global vice president of computer sales, said that this year will be the year of investing in customers’ businesses. In addition to investments in Intel partners and products or programs, but also in market access. The tools Intel says will be the most advanced tools that give partners access to schools or educational institutions. These are the places that will need a lot of laptop devices to organize teaching for students. According to statistics, with 1.6 billion students in the world, only 5 out of 100 students have laptops to use. Alder Lake will be Intel’s next generation of chips to appear next year. The business segment also has room for growth in laptop sales as the need to work remotely from home is increasing and becoming a trend for many companies. As for the next generation of Intel chips, at the end of Q2, the Intel Lake H45 laptop will be released. For desktops, Intel will also introduce the first 10 nanometer technology Alder Lake processors. Demand for a laptop or Chromebook is growing, especially in the second half of 2021 and into 2022, as well as in the following years. Intel is expanding its policy to reach customers in different segments and deliver high quality products.

Demonstrating responsibility to set an example in learning, grasping the Resolution

On April 13, the Hanoi Confederation of Labor held a study conference, thoroughly grasped the Resolution of the XIII Congress of the Party and deployed 10 action programs to implement the Resolution of the XVII Congress of the Party Committee of Hanoi. . Attending the meeting were Mr. Nguyen Phi Thuong – Member of the Executive Committee of the Vietnam General Confederation of Labor, Member of the Committee, Chairman of the City Confederation of Labor, Mr. Pham Thanh Hoc – Deputy Head of the Standing Committee of the Propaganda Department. Hanoi City Party Committee.

Attending the meeting were the standing comrades of the City Confederation of Labor: Standing Vice Chairman Dang Thi Phuong Hoa, Vice President Ngo Van Tuyen, Vice President Pham Ba Vinh, Vice President Le Dinh Hung, Vice President Chairman Nguyen Chinh Huu and especially, more than 600 key officials of the Capital Trade Union and Party Committee members of the Labor Confederation of the City attended to study and grasp thoroughly the Party’s Resolution.

More than 600 key officials of the Capital Trade Union have studied and grasped the Party’s resolutions

Speaking at the opening of the conference, Comrade Ngo Van Tuyen, Member of the Executive Committee of the Vietnam General Confederation of Labor, Vice Chairman of the City Confederation of Labor said: Research, study, grasp, propaganda and implementing the Resolution of the XIII Congress of the Party, the Resolution of the Seventh Congress of the Party Committee of Hanoi with 10 action programs is one of the key tasks of the year 2021, is a round of extensive political activities. so that each official, party member, trade union member, especially key cadres at all levels in the Hanoi Trade Union system will thoroughly grasp, grasp and properly and creatively implement the Party’s Resolution.

The Vice Chairman of the City Confederation of Labor requested that each key officer of the Capital Trade Union demonstrated his responsibility to set an example, focused attention on listening to the reporter’s presentation, combined with researching documents, exchanging, discuss and contact practices of their localities and units in order to effectively apply them to the trade union tasks of their agencies and units in the coming time.

In that spirit, at the conference, delegates heard Mr. Pham Thanh Hoc – Deputy Head of the Standing Committee of the Hanoi Party Committee for Propaganda and Education convey the core basic contents of the Resolution of the XIII Congress of the Communist Party. Vietnam such as: results of implementing the Resolution of the XII Congress; national development vision and orientation for the 2021-2030 period with specific economic, social and environmental goals.

In particular, he gave specific information on 6 key tasks in the term of the XIII Party Congress and 3 strategic breakthroughs to improve leadership, ruling and fighting capacity of the Party. building a clean, strong and comprehensive political system and Party; consolidating and enhancing the people’s confidence in the Party, the State and the socialist regime; arousing aspirations for developing a prosperous and happy country, promoting the will and strength of great national solidarity combined with the strength of the times; promote comprehensively and synchronously the renovation of industrialization and modernization of the country; building and firmly defending the Fatherland, maintaining a peaceful and stable environment; striving for the middle of the twenty-first century, our country will become a developed country, following the socialist orientation.

The Standing Deputy Head of the Party Committee for Propaganda of the City Party Committee also thoroughly grasped the basic contents of 10 working programs of the Hanoi City Party Committee, term XVII, issued on March 17, 2021 and emphasized: This not only has important and urgent significance in the immediate period 2021-2025, but also has very fundamental and long-term significance for the capital’s development in the next phases.

Applying and innovating the Resolution of the Party in Trade Union activities

According to Vice Chairman of the City Labor Confederation Ngo Van Tuyen, studying and grasping the Resolution helps key officials of the Capital Trade Union, Party members of the City Labor Confederation agency to master the basic content. , core and new points in the documents of the XIII Congress of the Party and 10 action programs to implement the Resolution of the XVII Congress of the Party Committee of Hanoi, from which to apply, properly and creatively apply the Decree. determination, creating a unity of will and action in the entire Party and people, and a high consensus among cadres, party members, union members, workers and employees.

The leaders of the City Confederation of Labor requested that, after the conference, the Executive Board, the Standing Committee of the Trade Union of the Capital must quickly develop a plan, update, supplement and amend the action plan of the application. practical position, concretized by projects, plans in each field, with a clear roadmap to implement under the motto “policy one, program ten, action one hundred”.

At the same time, the units must propagate creative, effective, rich and vivid ways of the success of the Congress, the core contents, new issues in the documents of the XIII Congress. of the Party; accurately and fully identify opportunities, advantages and disadvantages, challenges in the coming years …

Focus on the fight against the wrong and wrong views of the hostile forces and orient the public opinion in accordance with the motto of “building as the main”, “taking beauty and deflecting bad”, “taking the positive push. back to negative “; reflect promptly, fully and comprehensively the implementation of the Resolution of the Congress to a large number of officials, union members and employees

In particular, for units with a large number of workers working in industrial zones and export processing zones, non-state enterprises and foreign-invested enterprises need to actively consult with the authorities. Local committees and propaganda committees at the local level organize research, publish brief propaganda materials such as leaflets, newsletters … to serve the propagation of the Resolution in accordance with the conditions and characteristics of each specific object. creating strong and effective changes in the organization, implementing Trade Union activities and the movement of workers and employees of the Capital./.

NEW FEATURES

Implementation of Directive No. 01-CT / TW, dated 9/3/2021 of the Politburo (Session XIII) “Regarding research, study, grasping, propaganda and implementation of the Resolution of the Congress of deputies XIII National Party of the Party ”; From March 27-28, 2021, the Secretariat held a “National Online Conference to research, study and thoroughly grasp the Resolution of the XIII Congress of the Party”.

Based on the guidance and direction of the Central Propaganda Department, the Propaganda Committee of the provinces, city commissars and party committees under the Central Government have promptly advised the committee level to promulgate the plan of research, study and grasp thoroughly. propagating the Resolution of the XIII National Congress of the Party; dispatch directing units directly under the provincial Party Committee, city party committee, party committee and related units to prepare all conditions of material and technical facilities connecting transmission lines with the central bridge point to organize research. study, study and thoroughly grasp the Resolution of the XIII Congress of the Party according to the Central program and plan.

Delegates attending the Conference at the National Assembly’s house bridge, Hanoi.

National online conference research, study, grasp thoroughly the Resolution of the XIII Congress of the Party has many new points.

Compared with the tenure of Congress XI, XII, this conference was held uniformly in the online form from the central bridge point to the bridge point of the provincial Party Committee, Party Committee, Party Committee directly under the Central Government and expanded to the level. basis; Ingredients are mass summoned, the largest number ever. The delegates attending the conference were the Politburo member, member of the Secretariat, member of the Party Central Committee, member of the Central Inspection Committee, and the Central Theoretical Council; The comrades of the 14th National Assembly are attending the 11th session, the 14th National Assembly; former leaders of the Party and State, the former leaders of key provinces, city commissars and party committees directly under the Central Government; key leaders at all levels of Party committees, party organizations, departments, ministries, branches, agencies and units at the central level; key cadres at provincial, district and grassroots levels of 67 provinces, city party committees and party committees directly under the Central Government; Central reporters, reporters at provincial and district levels, cadres and party members attended the conference at all bridge points in the country.

The Standing Comrade of the Party Central Committee’s Secretariat attended the opening speech, directing the Conference. The Chairman of the National Assembly, the Prime Minister and members of the Politburo, Secretary of the Party Central Committee attended; 5 members of the Politburo directly worked as reporters at the National Online Conference.

Bridge point at Da Nang City Party Committee.

The conference was conducted in 2 days with 5 topics: (1) Political Report of the Party Central Committee Session XII at the XIII National Congress of the Party; (2) Summary report on Party building work and implementation of Party Charter of the XII Central Executive Committee at the XIII National Congress of the Party; (3) Strategy for socio-economic development for 10 years 2021-2030 and Orientation and tasks of socio-economic development for 5 years 2021-2025; (4) New perceptions and new thinking about Vietnam’s defense; (5) New perceptions and new thinking about national security.

According to reports sent by localities, agencies and units, the total number of demand points in the country is 7,903; including 1 central bridge point; 67 bridge points at the provincial level and equivalent; 7,835 bridge points at district and commune levels and equivalent to a total of 1,022,037 participants.

HIGHLY APPRECIATED

Regarding the organization of conferences, reporters, learning contents and basic documents are highly appreciated by localities and units.

The conference organization was carried out in a thoughtful and scientific manner, welcomed by the majority of the delegates. The Conference Organizing Committee has prepared meticulously, fully with learning materials, research and references; Thorough preparation of conditions and good assurance of security, order and disease prevention Covid-19 contributed to the success of the Conference.

The online transmission line from the central bridge point to the bridge point of the provinces, city commissars, party committees under the Central Government and the grassroots level is basically stable, ensuring quality for learners to monitor and absorb the contents. implemented at the National Online Conference of the Secretariat.

The localities and units were very excited to hear directly the members of the Politburo who led and directed the work of building the Document of the XIII Congress of the Party conveyed. Topics are carefully and meticulously prepared, closely following the content of the Document of the XIII Congress of the Party, clearly presenting basic opinions, core issues, new content, focusing on analyzing and interpreting the New points help cadres and party members to more deeply realize the spirit of the Resolution, create an atmosphere of serious and democratic political activities, contribute to unifying will and action, consensus, trust and determination. successfully implemented the Resolution of the XIII Congress of the Party; To encourage and encourage the entire Party, the entire people and the entire army to uphold the spirit of patriotism, the will of self-reliance, self-reliance, the strength of great national unity and aspirations to develop a prosperous and happy country .

The meeting participants were provided with the following documents: (1) Document of the XIII National Congress of the Party (volume 1, volume 2); (2) Learning Materials and Questions and Answers Documents of the XIII National Congress of the Party. The documents serving research, study, grasping and propaganda of documents of the XIII Congress of the Party have been edited briefly, concisely, suitable for each object of study.

After the Conference, the Central Propaganda Committee cooperated with the National Political Publishing House and the related agencies to continue issuing and sending talents to provinces, city commissars and Party committees under the Central Government. the above data to continue research, grasp and widely propagate among cadres, party members and the entire society. All levels are not the cost of ordering materials like the previous term.

Regarding propaganda work, Vietnam Television Station, the Voice of Vietnam radio and central and local press agencies promptly and quickly reported boldly on the National Online Conference on Research and Learning. , thoroughly grasp the Resolution of the XIII Congress of the Party. This has created a pervasive power throughout the Party and the entire society, contributing to early bringing the Resolution to life, creating a clear change in awareness, unification of will and action in the entire Party. High consensus among the people, high promotion of patriotism, self-reliance, self-reliance, the strength of great national solidarity and the desire to develop a prosperous and happy country, and the determination to strive for real currently winning the Resolution of the XIII Congress of the Party.

Bridge point at Ho Chi Minh City Party Committee.

CONTINUOUS RESEARCH, LEARNING, COURTING, RECOMMENDING XIII GENERAL ASSOCIATION OF THE BOARD

It can be affirmed that the National Online Conference on research, study and grasp thoroughly the Resolution of the XIII Congress of the Party is a major political event directed by the Politburo and the Party Central Secretariat. deep and wide throughout the Party. This is the first time, more than 1 million Party members in all parts of the country are focused on researching, studying and grasping the Resolution of the XIII Congress of the Party in the online form, and hear directly from the high leaders. Most of the Party, State has led and directed the construction of documents conveyed by the XIII Congress of the Party. During the two days attending the Conference, the delegates were fully, accurately and agreed on the basic and core contents of the Resolution. This is the first round of research, study, and thorough understanding of the resolution of the first Congress held in the form of online nationwide, which is a new point compared to the traditional way of the previous term.

In the coming time, the Central Propaganda Department will preside over and coordinate with relevant agencies and units to organize research conferences, study and grasp thoroughly the Resolution of the XIII Congress of the Party for the leaders of the institutions. press, publishing; leaders of literary and artistic associations, scientific and technical associations, writers, artists and intellectuals in the second quarter of 2021.

The Central Propaganda Committee urged provinces, city commissars and Party committees directly under the Central Government to continue to direct the organization of research and study conferences and grasp thoroughly the Resolution of the XIII Congress of the Party for each specific audience. , from province to grassroots level, cadres and party members have not been able to attend the Conference organized by the Secretariat. Strengthen the inspection and supervision of research, study, thorough understanding and development of the Action Plan to implement the Resolution of the XIII Congress.