Guest of this issue: Liu Qiao, Dean of Guanghua School of Management, Peking University

Produced | Sohu School of Business

Edit | Xu Xiaoqi

Chief Editor | Wang Demin

On June 21, China’s 9 first batch of publicly offered REITs were officially listed. This batch of publicly offered REITs ushered in popularity as early as the subscription stage, with subscription funds exceeding 30 billion, and all of them ended early.

REITs (real estate investment trust funds) are an important means to realize real estate securitization. It is a trust fund that pools the funds of most investors, transfers them to a special investment institution for real estate investment management, and distributes the investment income to investors in proportion.

In 1960, the world’s first REITs were born in the United States. From 2000 to 2016, the average annual yield of US REITs reached approximately 12%. At present, REITs products have been issued in more than 40 countries and regions, and the global market value exceeds 2 trillion US dollars. China’s first batch of public offering REITs is of great significance to China.

What impact does the securitization of REITs have on my country’s capital market? How is REITS different from stocks? How big is the overall market size of China’s REITS in the future? What is the relationship between REITs and real estate? Sohu Finance and Economics “Acknowledge 100 People” talked about this with Liu Qiao, Dean of Guanghua School of Management, Peking University.

Liu Qiao has studied and actively promoted the development of REITs in China for many years. In his view, REITs are a milestone in the development of China’s capital market, equivalent to the full implementation of the registration system, and a great attempt without losers.

Liu Qiao Means, REITs products are between “stocks” and “debts”, It is the fourth major financial asset except stocks, bonds, and cash. It has not only improved the types of Chinese assets, but also brought new choices for Chinese residents in the future investment allocation, which is an important step in advancing the capital market.

Talking about the characteristics of REITs, Liu Qiao said that the cash flow of REITs is relatively stable. Compared with stocks, it is relatively less speculative and more suitable for long-term holding and investment. Especially in a bear market, it is more resilient and its performance is more stable. Under global inflation expectations, REITs have a certain stabilizing effect on residents’ wealth management and obtaining property income. In the United States, REITs have better investment returns than bonds and stocks, and they have lower risks than stocks.

“Assessing whether a financial product is a good asset, we cannot look at the increase in the bull market, but the resilience of the bear market,” Liu Qiao said frankly. He also introduced that the vast majority of REITs’ income must be distributed, and there is a mandatory distribution ratio requirement. Investing in public REITs funds with growth potential is equivalent to sharing the dividends of China’s future economic growth. Liu Qiao also clarified the common misunderstanding of the relationship between REITs and real estate in my country during the interview. He emphasized that real estate is not equal to real estate. In fact, REITs and real estate are two concepts. In the United States, the underlying assets of REITs are only 13.2% related to real estate, and a larger proportion are other assets such as retail stores, hospitals, and industrial plants. How big is the market for China’s REITs? Liu Qiao predicts that if only infrastructure is considered in the short term, R The future market size of EITs will be between 5 trillion and 10 trillion . This scale is not small. After more than 30 years of development, the A-share market has a volume of only nearly 80 trillion. According to his analysis, the market size of mature REITs such as the United States and Japan accounts for about 5% to 15% of GDP. According to this law, China’s GDP is 101.6 trillion, and the volume of China’s REITs will probably reach 4 to 12 trillion in the future. From another perspective, China’s overall infrastructure stock is now 130 trillion yuan. If 5% of the infrastructure stock is securitized, it can reach a volume of 6.5 trillion yuan. “In addition, China’s current REITs’ underlying assets are only infrastructure, and this scope will expand to other areas in the future, so I think the real market size of China’s REITs in the future will be much larger than this number.” Liu Qiao said. Liu Qiao, Dean of Guanghua School of Management, Peking University The following is a compilation of interviews: Sohu Finance: On June 21, 9 public offering REITs went public. How do you expect REITS prices to perform? Liu Qiao: Because the subscription is very active, the price of REITs will definitely increase on June 21st, but the increase cannot be determined because there is a 30% upper limit on the increase. Sohu Finance: What impact will the securitization of REITs have on my country’s capital market? Liu Qiao: Nine infrastructure public offering REITs went public, after 20 years of hard work. The launch of public REITs has three meanings. The first is to build a multi-level capital market. Public REITs have grown from scratch and are the fourth largest financial asset in addition to stocks, bonds, and cash. It has perfected China’s major asset categories and is an important step in advancing the capital market. At the same time, REITs products are between “shares” and “debts”, bringing new choices for Chinese residents’ future investment allocation. Second, public REITs are traded in the secondary market and have the function of price discovery. REITs price is the anchor for market-based pricing of underlying assets , Which is conducive to more effective allocation of resources. Third, public REITs can increase the proportion of direct financing, which is an important measure for the supply-side reform of China’s financial sector. It not only provides another source of funding for future infrastructure investment, but also has great value in improving the efficiency and return of China’s infrastructure investment in the future. REITs are a milestone in the development of China’s capital market. They are equivalent to the full implementation of the registration system. . REITs and the registration system are the most important and only two measures of China’s financial supply-side reform. From this perspective, I am very looking forward to June 21st, and hope that these 9 pilot public offering REITs will be listed with great success. Sohu Finance: You just said that REITs are financial products between stocks and bonds. What is the specific difference between them and stocks? Liu Qiao: The publicly offered REITs in this trial are equity products. From this perspective, they are not debts, and are equity securities like stocks. However, as financial products, REITs have their own specific attributes. For example, the underlying assets are real estate and the cash flow is relatively stable. Its growth depends more on stable cash flow growth. Compared with stocks, it is less speculative and has stronger long-term investment attributes. In addition, The vast majority of REITs’ income must be distributed, and there is a mandatory dividend ratio requirement . According to the research of the US, Singapore, Australia and other markets, the pricing law of REITs is also different from that of stocks and bonds. If various types of financial assets have strong linkages and a high degree of price linkage, the effect of risk diversification will be relatively poor. In the U.S. market, REITs prices have a low correlation with bond prices and stock prices . Therefore, from the perspective of resource allocation, it is a very good configuration field, with greater configuration value. Sohu Finance: The current REITs are only pilot projects, and the fund subscription scale is small. How big do you estimate the overall market size of China’s REITS? Liu Qiao: The mature REITs market in the United States and other countries accounts for about 4% to 12% of GDP. According to this law, China’s GDP is 101.6 trillion, and the volume of China’s REITs will probably reach 4 to 12 trillion in the next few years. This scale is not small. After more than 30 years of development, the A-share market now has a volume of only nearly 80 trillion. In addition, Chinese REITs are not the same as the US and Australian markets. The first batch of our pilots are infrastructure public offering REITs, and the underlying assets are infrastructure. China’s entire infrastructure stock is now 130 trillion yuan. If 5% of the infrastructure stock is securitized, and the final public offering is listed, it can also reach a volume of 6.5 trillion yuan. Moreover, as a large category of financial assets, REITs have relatively stable yields and little price fluctuations. In the United States, REITs have better investment return data than bonds and stocks, and the risk is relatively low. In the future, the scope of underlying assets of China’s REITs will also expand to other areas. Such as rental housing, low-carbon related assets and so on. Including these underlying assets, the scale of China’s REITs will be larger than 6.5 trillion yuan. If only infrastructure REITs are considered in the short term, the market size will be between 5 trillion and 10 trillion. But I think the real market size of China’s REITS will be much larger than this number in the future. Sohu Finance: How to correctly understand the relationship between REITs and real estate? Liu Qiao: People’s There has always been a misunderstanding in the perception of REITs. The English literal translation of REITs is “real estate investment trust fund”. The underlying assets are real estate, not just real estate. The wrong perception of real estate has led people to think that REITs are investment funds with real estate as the underlying assets. The launch of REITs is just another channel for real estate companies and related issuers to provide financing. Therefore, as the Chinese real estate market is facing a structural transformation and controlling housing prices, everyone has a lot of concerns about the launch of REITs. This is one of the reasons why public REITs have not been called out for so many years. It took many years for academics and policy makers to correct their perceptions of REITs. In the U.S., REITs are really only 13.2% of the underlying assets related to real estate A larger proportion is retail stores accounted for 18.28%, hospitals accounted for 10.72%, infrastructure accounted for 13.92%, industry accounted for 7.7%, and other assets such as hotels and data centers. Sohu Finance: What impact does the listing of REITs have on residents’ financial management? Liu Qiao: The value of publicly offered REITs is that they have both financial and real estate attributes, and they are the most typical example of the integration of industry and finance. The performance of REITs in the market depends on the operational capabilities of the management team. Investing in public REITs funds with relatively high quality underlying assets, strong management team operational capabilities, and growth potential is also equivalent to sharing the dividends brought about by China’s future economic growth and the continuous improvement of infrastructure investment efficiency. Sohu Finance: Under global inflation expectations, what are the effects of REITs on residents’ wealth management? Liu Qiao: To assess whether a financial product is a good asset, one cannot look at how much it rises in a bull market, but depends on its resilience in a bear market. REITs have weak volatility and strong anti-cyclical ability. When the economy performs poorly and the financial market is in a counter-cyclical period, the performance is more stable. When allocating assets, REITs are an ideal alternative investment product. Under global inflation expectations, REITs have a certain stabilizing effect on residents’ wealth management. Sohu Finance: How has the US REITs’ yield performance over the years? Liu Qiao: From 2000 to 2016, the average annual return rate of US REITs reached about 12%, which is much higher than the average of the S&P 500. After the 2008 financial crisis, REITs continued to grow in decline, but still surpassed the stock and bond markets. Sohu Finance: The listing of REITs refers to the advancement of the Science and Technology Innovation Board. What impact will it have on the Sci-tech Innovation Board and ChiNext after it goes public? Liu Qiao: As a growing financial market, everyone has high expectations for the follow-up development of REITs. And after sorting out the pilot experience, the scope of the overall underlying assets of REITs will continue to expand. The US REITs market has the largest scale and the longest development time in the world so far, and the scope of the underlying market is very wide.but China’s current REITs’ underlying assets are only infrastructure. In the future, this scope will continue to expand during the development process. I believe that rental housing and carbon-neutral assets will be gradually included. In this case, REITs will eventually become a very important part of the entire capital market. Its size, coverage, support for the real economy, and influence on the capital market will expand year by year. However, when discussing the impact on the traditional capital market, the current REITs are only pilot projects with limited scale.For example, the total volume of the 9 REITs listed this time is only more than 30 billion, and the market value of the A-share market is close to 80 trillion, so So far, the impact of REITs on the stock market is very small . If we only look at the direct price impact or the liquidity impact, the impact of REITs on the Sci-tech Innovation Board and ChiNext will be minimal in the short term. However, the launch of publicly offered REITs is an important measure for the supply-side reform of the financial sector. Its significance is equivalent to the launch of the science and technology innovation board and the implementation of the registration system. The positive impact will gradually become apparent. Sohu Finance: REITs funds have a certain degree of “share nature.” What do you think of the risks that it may bring when trading in the secondary market? Liu Qiao: From the perspective of recruitment and subscription, REITs are highly recognized by market investors. But REITs are not growth stocks in the classic sense, but more like sound investment products. It is less speculative and more suitable for long-term holding and investment. I am worried that everyone thinks it is speculative and thus speculates on the price. If the price rises too sharply, it will bring noise to the steady and sustainable development of public REITs in the future. Investors should have a clear understanding of the pricing rules of REITs and establish a correct investment philosophy, so that the development of REITs can proceed steadily. Sohu Finance: In addition to new infrastructure, what other areas or groups will benefit from REITs? Liu Qiao: From the issuer’s perspective, asset owners included in the scope of the REITS pilot program are definitely beneficiaries, such as highways, environmental water services, industrial parks, logistics, and data centers. However, from the perspective of investors, the long-term significance of the benefits is that REITS public offerings provide public investors with the fourth category of financial assets, enabling the public to invest in real estate and benefit from it. In addition, REITs have stable cash flow, stable yield, and risk between stocks and bonds, which is good for long-term institutional investors. Finally, local governments and platform companies are also major investors in national infrastructure construction. After REITS pilots, the scale will continue to expand, and as the market becomes more and more mature, the future will bring about a radical change in investment philosophy. So local governments are also beneficiaries. In addition, finances can also collect the taxes that occur during the issuance and transaction process of REITS, so public offering of REITS is a great attempt without losers. More interviews are as follows: Liu Qiao: There is a general misunderstanding about REITS in our country, it is not equal to the securitization of real estate investment Liu Qiao: REITs funds are more resilient than stocks in a bear market, and are suitable for long-term stable holding and investment Liu Qiao, Dean of Peking University Guanghua: my country’s provident fund stock is more than 800 billion, and the implementation of rental REITs can build more public rental housing

That’s it.

This is a complaint made by many friends around me after staying up late to watch the WWDC Developer Conference. The update rate is not too big, the new iPadOS has not liberated the productivity of the M1 chip version of the iPad Pro, and the attractiveness of changing the phone is low.

In the Apple product lineup, there is another product that is similar to the iPad Pro, and that is the Apple Watch. Since Apple Watch 4, the subsequent generations of products have not been updated much.

What’s more, the lower price of Apple Watch SE is not too far from the Apple Watch 6 in terms of core functional experience, which makes it more or less embarrassing to have a higher positioning and price, and Apple Watch users will inevitably have less willingness to change. some.

If you want to change this status quo, you must make drastic updates and adjustments to the product. Judging from the current exposure information of Bloomberg and other media, the changes in the next-generation Apple Watch have begun to take shape.

With narrower screen borders and better performance, Apple Watch 7 has changed?

The first is the change in appearance. According to a report by the well-known whistleblower Jon Prosser, Apple will use a similar design to the iPhone 12 on the Apple Watch 7, that is, it will adopt more right-angled edge designs.

Earlier, Apple analysts also said that Apple may update the appearance design of Apple Watch in 2021. The two predictions for Apple products are more than 70% accurate, and there is still a certain degree of credibility..

The shape is the most intuitive difference that people feel, and it is also one of the important ways to distinguish between the new and the old. Its boosting effect on sales has been verified by products such as iPhone 12, which may be one of the reasons why Apple changed its design.

In addition, Bloomberg, which also has a high rate of prediction accuracy, recently released a report on the next-generation Apple Watch. It stated that the Apple Watch released this year will cause major changes in both the appearance and the inside.

In terms of screen, the next generation of Apple Watch will adopt a narrower screen frame, which means that the screen size may increase. The previous 4th generation has also reduced the screen frame as a major change.

▲Comparison of the screen size of Apple Watch 4 and Apple Watch 3

At the same time, Apple may use new screen technology to reduce the gap between the display and the glass cover, but the watch will be thicker overall.

Next is the heavyweight, Bloomberg said that Apple Watch 7 will use a faster chip.

At present, the S6 chip used in the sixth generation is based on the two small cores of the A13. The A13 is manufactured based on the 7nm process. Now Apple has used 5nm for both the M1 chip on the Mac and the latest A14 chip process. , The next-generation S7 chip, the same 5nm process seems to be the natural choice.

More advanced craftsmanship can often improve performance, reduce energy consumption, and reduce battery life pressure. The new Mac equipped with the M1 chip is the best case.

Of course, whether the battery life can be improved depends on the implementation of Apple’s product planning, and an increased screen often means an increase in energy consumption. It is not easy to say whether the battery life will increase or decrease under one increase and one decrease.

Battery life is now one of the biggest experience pain points of Apple Watch. It is really troublesome to charge a day as a portable device, and functions like sleep monitoring conflict with people’s habit of charging at night.

Another change is the feature update of Ultra Wideband Technology (UWB). As early as Apple Watch 6, Apple installed the U1 chip, but there have been few applications for related functions.

According to the characteristics of UWB technology near field communication, the new update is likely to interact with more smart devices. There are also related functions in the new system watchOS 8. Apple Watch will become a smart home butler, not only can manage smart home devices, but also similar Remind to lock the door, automatically turn on the lights and other functions.

▲Remind you that the door is not locked

Finally, there are changes in health functions. Although functions such as blood oxygen detection and electrocardiogram have become one of the core differences between the highest-positioned Apple Watch 6 and other models, the changes in this aspect of the next-generation Apple Watch are still unclear.

Bloomberg said that the temperature test at this year’s meeting may have to wait until next year. As for the non-invasive blood oxygen test that can measure blood glucose levels without blood sampling, it takes longer for commercial use. For diabetic patients, blood glucose testing at any time is important for the condition. It is very meaningful for monitoring.

The next-generation Apple Watch SE and outdoor version will also be released next year.

The popularity of Apple Watch

Today’s Apple Watch has already proven its value. Market data is the best proof. According to data research institutions Counterpoint ResearchAccording to the report, global smartwatch shipments in the first quarter of 2021 increased by 35% year-on-year, and Apple Watch accounted for nearly one-third of the market.

It is foreseeable that manufacturers, including Apple, will still promote the popularization of smart watches, but this cannot be solved quickly by polishing products alone.

As a product that focuses on the sports and health market, the barriers to use and learning of smart watches are much higher than those of mobile phones. I once asked a friend who has been using Apple Watch to assist in fitness for many years. I can’t help but sigh while opening up a new world. The matter of exercise depends not only on personal wishes, but also on the use of tools.

According to a friend’s introduction, Apple Watch can detect a number of data during exercise, and more importantly, use the data to determine whether your exercise is correct, and in which areas need to be improved.

Taking swimming as an example, in addition to common calories, Apple Watch will also give out heart rate, speed, distance and other data, which mainly use speed and heart rate to judge whether the swimming style is correct and whether swimming is effective in reducing fat.

Many people do not feel too strenuous when learning breaststroke, and at this time his posture is often inclined in the water, the posture is not considered standard, corresponding to the exercise data is slow speed and low heart rate.

When I asked my friend how to use the exercise data tracked by Apple Watch to adjust swimming style, she said:

After learning breaststroke, I swam in a lap, and my heart rate was as high as 160, but the speed reached 5 minutes per 100 meters. That means my posture is wrong and swimming is not efficient. At this point, what I have to do is adjust my breath to lower my heart rate, and then pay attention to the next lap of swimming stretching and breathing frequency.

Speaking of this, you probably already understand that it is necessary to learn to use exercise data to judge exercise status and improve exercise ability. This is also related to personal exercise experience. As an exercise aid, Apple Watch must lower the threshold for popularization.

It is not that Apple has worked hard for this. Social functions are one of them. Users can share exercise data with friends and family through iMessage and other functions, while functions like “7-day competition” support mutual PK between users through reminders and notifications. Encourage both parties to complete the corresponding exercise.

This is also one of the answers many users argue about why they choose Apple Watch instead of professional sports watches. In addition to being a sports measurement tool, smart watches can also promote people to better establish healthy exercise habits through social services.

At the same time, you can judge your physical ability through exercise data. Taking running as an example, the heart rate of professional runners is different from that of ordinary people. Although everyone is within the normal heart rate range, professional runners have stronger cardiorespiratory capabilities and are calmer. The resting heart rate in the state is also lower (usually around 50 beats per minute).

Of course, sports social interaction is more limited to communication in a circle, and the threshold for direct tutorials is lower. In this regard, brands such as Huawei and OPPO are obviously doing better in China. They directly have supporting related tutorial services and provide a variety of Sports mode.

The fitness sports subscription service launched by Apple has not been launched in China, and whether the tutorials match the physical fitness of the Chinese is also a question mark.

▲ Fitness+ supports follow-up training.

This part of the lack can only be filled by keep and sports content on social media, which is also one of the values ​​of their existence.

The future of smart watches

Let more people know about smart watches through sports-related content services, which is more like a horizontal product popularization, and the vertical exploration of the smart watch category is to add more categories of health data monitoring.

Related functions are not only being explored by Apple, but also by manufacturers such as Huawei and Xiaomi.

In addition to the non-invasive blood glucose testing mentioned above, as well as blood pressure, food intake records, etc., richer health data monitoring can not only let people understand the state of the body, but also can be used as a guide for healthy living, such as a sudden spike in blood sugar level. Food intake records can be traced back to whether it is caused by food in order to adjust the recipe.

These data can also be used as an early warning reminder of some diseases, whether you should go to the hospital for an in-depth examination.

Of course, more in-depth health data is very likely to require related approvals. For example, the ECG electrocardiogram function on the Apple Watch, in addition to the FDA certification in the United States, still needs approval in the world.

With the certification of professional institutions, the accuracy of its data can also be recognized to a certain extent.

In an era when personal data is increasingly valued, the privacy issues of smart watches also need to be taken seriously, especially in the future where health status can be judged through data, smart watches, like mobile phones, are products that people use personally, which is caused by data leaks. The problem is also serious. There were earlier cases where health data was used as the basis for insurance service recommendations.

In the movie “Transcendental Hacker”, there is also a plot of excessive abuse of health data. The protagonist played by John Nedpp can understand the heroine’s emotions without being around by detecting the heroine’s physical data.

Tracking a partner privately without permission is undoubtedly an invasion of personal privacy, and it is also easy to have a bad influence on the relationship between the partners.

On the other hand, when health data becomes more and more abundant, will it alienate our lives like the Internet? Earlier, some people paid too much attention to quantitative food calorie data when losing weight, and found that there are fewer and fewer foods that can be eaten. It has caused greater psychological anxiety and even psychological problems.

Smart watches led by Apple Watch have improved people’s sports and even health experience with more accurate data, and at the same time made quantitative life a part of people’s lifestyle.

However, various news in recent years have told us that technology or tools have never been more than one side. How to make good use of tools instead of being negatively affected by tools is a problem that companies such as Apple and even ordinary users need to think about.

That’s it.

That’s it.

This is a complaint made by many friends around me after staying up late to watch the WWDC Developer Conference. The update rate is not too big, the new iPadOS has not liberated the productivity of the M1 chip version of the iPad Pro, and the attractiveness of changing the phone is low.

In the Apple product lineup, there is another product that is similar to the iPad Pro, and that is the Apple Watch. Since Apple Watch 4, the subsequent generations of products have not been updated much.

What’s more, the lower price of Apple Watch SE is not too far from the Apple Watch 6 in terms of core functional experience, which makes it more or less embarrassing to have a higher positioning and price, and Apple Watch users will inevitably have less willingness to change. some.

If you want to change this status quo, you must make drastic updates and adjustments to the product. Judging from the current exposure information of Bloomberg and other media, the changes in the next-generation Apple Watch have begun to take shape.

With narrower screen borders and better performance, Apple Watch 7 has changed?

The first is the change in appearance. According to a report by the well-known whistleblower Jon Prosser, Apple will use a similar design to the iPhone 12 on the Apple Watch 7, that is, it will adopt more right-angled edge designs.

Earlier, Apple analysts also said that Apple may update the appearance design of Apple Watch in 2021. The two predictions for Apple products are more than 70% accurate, and there is still a certain degree of credibility..

The shape is the most intuitive difference that people feel, and it is also one of the important ways to distinguish between the new and the old. Its boosting effect on sales has been verified by products such as iPhone 12, which may be one of the reasons why Apple changed its design.

In addition, Bloomberg, which also has a high rate of prediction accuracy, recently released a report on the next-generation Apple Watch. It stated that the Apple Watch released this year will cause major changes in both the appearance and the inside.

In terms of screen, the next generation of Apple Watch will adopt a narrower screen frame, which means that the screen size may increase. The previous 4th generation has also reduced the screen frame as a major change.

▲Comparison of the screen size of Apple Watch 4 and Apple Watch 3

At the same time, Apple may use new screen technology to reduce the gap between the display and the glass cover, but the watch will be thicker overall.

Next is the heavyweight, Bloomberg said that Apple Watch 7 will use a faster chip.

At present, the S6 chip used in the sixth generation is based on the two small cores of the A13. The A13 is manufactured based on the 7nm process. Now Apple has used 5nm for both the M1 chip on the Mac and the latest A14 chip process. , The next-generation S7 chip, the same 5nm process seems to be the natural choice.

More advanced craftsmanship can often improve performance, reduce energy consumption, and reduce battery life pressure. The new Mac equipped with the M1 chip is the best case.

Of course, whether the battery life can be improved depends on the implementation of Apple’s product planning, and an increased screen often means an increase in energy consumption. It is not easy to say whether the battery life will increase or decrease under one increase and one decrease.

Battery life is now one of the biggest experience pain points of Apple Watch. It is really troublesome to charge a day as a portable device, and functions like sleep monitoring conflict with people’s habit of charging at night.

Another change is the feature update of Ultra Wideband Technology (UWB). As early as Apple Watch 6, Apple installed the U1 chip, but there have been few applications for related functions.

According to the characteristics of UWB technology near field communication, the new update is likely to interact with more smart devices. There are also related functions in the new system watchOS 8. Apple Watch will become a smart home butler, not only can manage smart home devices, but also similar Remind to lock the door, automatically turn on the lights and other functions.

▲Remind you that the door is not locked

Finally, there are changes in health functions. Although functions such as blood oxygen detection and electrocardiogram have become one of the core differences between the highest-positioned Apple Watch 6 and other models, the changes in this aspect of the next-generation Apple Watch are still unclear.

Bloomberg said that the temperature test at this year’s meeting may have to wait until next year. As for the non-invasive blood oxygen test that can measure blood glucose levels without blood sampling, it takes longer for commercial use. For diabetic patients, blood glucose testing at any time is important for the condition. It is very meaningful for monitoring.

The next-generation Apple Watch SE and outdoor version will also be released next year.

The popularity of Apple Watch

Today’s Apple Watch has already proven its value. Market data is the best proof. According to data research institutions Counterpoint ResearchAccording to the report, global smartwatch shipments in the first quarter of 2021 increased by 35% year-on-year, and Apple Watch accounted for nearly one-third of the market.

It is foreseeable that manufacturers, including Apple, will still promote the popularization of smart watches, but this cannot be solved quickly by polishing products alone.

As a product that focuses on the sports and health market, the barriers to use and learning of smart watches are much higher than those of mobile phones. I once asked a friend who has been using Apple Watch to assist in fitness for many years. I couldn’t help but sigh while opening up a new world. The matter of exercise depends not only on personal wishes, but also on the use of tools.

According to a friend’s introduction, Apple Watch can detect a number of data during exercise, and more importantly, use the data to determine whether your exercise is correct, and in which areas need to be improved.

Taking swimming as an example, in addition to common calories, Apple Watch will also give out heart rate, speed, distance and other data, which mainly use speed and heart rate to judge whether the swimming style is correct and whether swimming is effective in reducing fat.

Many people do not feel too strenuous when learning breaststroke, and at this time his posture is often inclined in the water, the posture is not considered standard, corresponding to the exercise data is slow speed and low heart rate.

When I asked my friend how to use the exercise data tracked by Apple Watch to adjust swimming style, she said:

After learning breaststroke, I swam in a lap, and my heart rate was as high as 160, but the speed reached 5 minutes per 100 meters. That means my posture is wrong and swimming is not efficient. At this point, what I have to do is adjust my breath to lower my heart rate, and then pay attention to the next lap of swimming stretching and breathing frequency.

After learning breaststroke, I swam in a lap, and my heart rate was as high as 160, but the speed reached 5 minutes per 100 meters. That means my posture is wrong and swimming is not efficient. At this point, what I have to do is adjust my breath to lower my heart rate, and then pay attention to the next lap of swimming stretching and breathing frequency.

Speaking of this, you probably already understand that it is necessary to learn to use exercise data to judge exercise status and improve exercise ability. This is also related to personal exercise experience. As an exercise aid, Apple Watch must lower the threshold for popularization.

It is not that Apple has worked hard for this. Social functions are one of them. Users can share exercise data with friends and family through iMessage and other functions, while functions like “7-day competition” support mutual PK between users through reminders and notifications. Encourage both parties to complete the corresponding amount of exercise.

This is also one of the answers many users argue about why they choose Apple Watch instead of professional sports watches. In addition to being a sports measurement tool, smart watches can also promote people to better establish healthy exercise habits through social services.

At the same time, you can judge your physical ability through exercise data. Taking running as an example, the heart rate of professional runners is different from that of ordinary people. Although everyone is within the normal heart rate range, professional runners have stronger cardiorespiratory capabilities and are calmer. The resting heart rate in the state is also lower (usually around 50 beats per minute).

Of course, sports social networking is more limited to communication in a circle, and the threshold for direct tutorials is lower. In this regard, brands such as Huawei and OPPO are obviously doing better in China. They directly have supporting related tutorial services and provide a variety of Sports mode.

The fitness sports subscription service launched by Apple has not been launched in China, and whether the tutorials match the physical fitness of the Chinese is also a question mark.

▲ Fitness+ supports follow-up training.

This part of the lack can only be filled by keep and sports content on social media, which is also one of the values ​​of their existence.

The future of smart watches

Let more people know about smart watches through sports-related content services, which is more like a horizontal product popularization, and the vertical exploration of the smart watch category is to add more categories of health data monitoring.

Related functions are not only being explored by Apple, but also by manufacturers such as Huawei and Xiaomi.

In addition to the non-invasive blood glucose testing mentioned above, as well as blood pressure, food intake records, etc., richer health data monitoring can not only let people understand the state of the body, but also can be used as a guide for healthy living, such as a sudden spike in blood sugar level. Food intake records can be traced back to whether it is caused by food in order to adjust the recipe.

These data can also be used as an early warning reminder of some diseases, whether you should go to the hospital for an in-depth examination.

Of course, more in-depth health data is very likely to require related approvals. For example, the ECG electrocardiogram function on the Apple Watch, in addition to the FDA certification in the United States, still needs approval in the world.

With the certification of professional institutions, the accuracy of its data can also be recognized to a certain extent.

In an era when personal data is increasingly valued, the privacy issues of smart watches also need to be taken seriously, especially in the future where health status can be judged through data, smart watches, like mobile phones, are products that people use personally, which is caused by data leaks. The problem is also serious. There were earlier cases where health data was used as the basis for insurance service recommendations.

In the movie “Transcendental Hacker”, there is also a plot of excessive abuse of health data. The protagonist played by John Nedpp can understand the heroine’s emotions without being around by detecting the heroine’s physical data.

Tracking a partner privately without permission is undoubtedly an invasion of personal privacy, and it is also easy to have a bad influence on the relationship between the partners.

On the other hand, when health data becomes more and more abundant, will it alienate our lives like the Internet? Earlier, some people paid too much attention to quantitative food calorie data when losing weight, and found that there are fewer and fewer foods to eat. It has caused greater psychological anxiety and even psychological problems.

Smart watches led by Apple Watch have improved people’s sports and even health experience with more accurate data, and at the same time made quantitative life a part of people’s lifestyle.

However, various news in recent years have told us that technology or tools have never been more than one side. How to make good use of tools instead of being negatively affected by tools is a problem that companies such as Apple and even ordinary users need to think about.

#Welcome to follow Aifaner’s official WeChat account: Aifaner (WeChat ID: ifanr), more exciting content will be provided to you as soon as possible.

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Sohu Finance and Economics and “Economics” magazine series of interviews-“Acknowledge 100 People” No. 125 (click to enter the topic)

Guest of this issue: Liu Qiao, Dean of Guanghua School of Management, Peking University

Produced | Sohu School of Business

Edit | Xu Xiaoqi

Chief Editor | Wang Demin

On June 21, China’s 9 first batch of publicly offered REITs were officially listed. This batch of publicly offered REITs ushered in popularity as early as the subscription stage, with subscription funds exceeding 30 billion, and all of them ended early.

REITs (real estate investment trust funds) are an important means to realize real estate securitization. It is a trust fund that pools the funds of most investors, transfers them to a special investment institution for real estate investment management, and distributes the investment income to investors in proportion.

In 1960, the world’s first REITs were born in the United States. From 2000 to 2016, the average annual yield of US REITs reached approximately 12%. At present, REITs products have been issued in more than 40 countries and regions, and the global market value exceeds 2 trillion US dollars. China’s first batch of public offering REITs is of great significance to China.

What impact does the securitization of REITs have on my country’s capital market? How is REITS different from stocks? How big is the overall market size of China’s REITS in the future? What is the relationship between REITs and real estate? Sohu Finance and Economics “Acknowledge 100 People” talked about this with Liu Qiao, Dean of Guanghua School of Management, Peking University.

Liu Qiao has studied and actively promoted the development of REITs in China for many years. In his view, REITs are a milestone in the development of China’s capital market, equivalent to the full implementation of the registration system, and a great attempt without losers.

Liu Qiao Means, REITs products are between “stocks” and “debts”, It is the fourth major financial asset except stocks, bonds, and cash. It has not only improved the types of Chinese assets, but also brought new choices for Chinese residents in the future investment allocation, which is an important step in advancing the capital market.

Talking about the characteristics of REITs, Liu Qiao said that the cash flow of REITs is relatively stable. Compared with stocks, it is relatively less speculative and more suitable for long-term holding and investment. Especially in a bear market, it is more resilient and its performance is more stable. Under global inflation expectations, REITs have a certain stabilizing effect on residents’ wealth management and obtaining property income. In the United States, REITs have better investment returns than bonds and stocks, and they have lower risks than stocks.

“Assessing whether a financial product is a good asset, we cannot look at the increase in the bull market, but the resilience of the bear market,” Liu Qiao said frankly.

He also introduced that the vast majority of REITs’ income must be distributed, and there is a mandatory distribution ratio requirement. Investing in public REITs funds with growth potential is equivalent to sharing the dividends of China’s future economic growth.

Liu Qiao also clarified the common misunderstanding of the relationship between REITs and real estate in my country during the interview. He emphasized that real estate is not equal to real estate. In fact, REITs and real estate are two concepts. In the United States, the underlying assets of REITs are only 13.2% related to real estate, and a larger proportion are other assets such as retail stores, hospitals, and industrial plants.

How big is the market for China’s REITs? Liu Qiao predicts that if only infrastructure is considered in the short term, R The future market size of EITs will be between 5 trillion and 10 trillion . This scale is not small. After more than 30 years of development, the A-share market has a volume of only nearly 80 trillion.

According to his analysis, the market size of mature REITs such as the United States and Japan accounts for about 5% to 15% of GDP. According to this law, China’s GDP is 101.6 trillion, and the volume of China’s REITs will probably reach 4 to 12 trillion in the future. From another perspective, China’s overall infrastructure stock is now 130 trillion yuan. If 5% of the infrastructure stock is securitized, it can reach a volume of 6.5 trillion yuan.

“In addition, China’s current REITs only have infrastructure as the underlying assets, and this scope will expand to other areas in the future, so I think the real market size of China’s REITs in the future will be much larger than this number.” Liu Qiao said.

Liu Qiao, Dean of Guanghua School of Management, Peking University

The following is a compilation of interviews:

Sohu Finance: On June 21, 9 public offering REITs went public. How do you expect REITS prices to perform?

Liu Qiao: Because the subscription is very active, the price of REITs will definitely increase on June 21st, but the increase cannot be determined because there is a 30% upper limit on the increase.

Sohu Finance: What impact will the securitization of REITs have on my country’s capital market?

Liu Qiao: Nine infrastructure public offering REITs went public, after 20 years of hard work. The launch of public REITs has three meanings. The first is to build a multi-level capital market. Public REITs have grown from scratch and are the fourth largest financial asset in addition to stocks, bonds, and cash. It has perfected China’s major asset categories and is an important step in advancing the capital market. At the same time, REITs products are between “shares” and “debts”, bringing new choices for Chinese residents’ future investment allocation.

Second, public REITs are traded in the secondary market and have the function of price discovery. REITs price is the anchor for market-based pricing of underlying assets , Which is conducive to more effective allocation of resources.

Third, public REITs can increase the proportion of direct financing, which is an important measure for the supply-side reform of China’s financial sector. It not only provides another source of funding for future infrastructure investment, but also has great value in improving the efficiency and return of China’s infrastructure investment in the future.

REITs are a milestone in the development of China’s capital market. They are equivalent to the full implementation of the registration system. . REITs and the registration system are the most important and only two measures of China’s financial supply-side reform.

From this perspective, I am very looking forward to June 21st, and hope that these 9 pilot public offering REITs will be listed with great success.

Sohu Finance: You just said that REITs are financial products between stocks and bonds. What is the specific difference between them and stocks?

Liu Qiao: The publicly offered REITs in this trial are equity products. From this perspective, they are not debts, and are equity securities like stocks. However, as financial products, REITs have their own specific attributes. For example, the underlying assets are real estate and the cash flow is relatively stable. Its growth depends more on stable cash flow growth. Compared with stocks, it is less speculative and has stronger long-term investment attributes.

In addition, The vast majority of REITs’ income must be distributed, and there is a mandatory dividend ratio requirement . According to the research of the US, Singapore, Australia and other markets, the pricing law of REITs is also different from that of stocks and bonds.

If various types of financial assets have strong linkages and a high degree of price linkage, the effect of risk diversification will be relatively poor. In the U.S. market, REITs prices have a low correlation with bond prices and stock prices . Therefore, from the perspective of resource allocation, it is a very good configuration field, with greater configuration value.

Sohu Finance: The current REITs are only pilot projects, and the fund subscription scale is small. How big do you estimate the overall market size of China’s REITS?

Liu Qiao: The mature REITs market in the United States and other countries accounts for about 4% to 12% of GDP. According to this law, China’s GDP is 101.6 trillion, and the volume of China’s REITs will probably reach 4 to 12 trillion in the next few years. This scale is not small. After more than 30 years of development, the A-share market now has a volume of only nearly 80 trillion.

In addition, Chinese REITs are not the same as the US and Australian markets. The first batch of our pilots are infrastructure public offering REITs, and the underlying assets are infrastructure. China’s entire infrastructure stock is now 130 trillion yuan. If 5% of the infrastructure stock is securitized, and the final public offering is listed, it can also reach a volume of 6.5 trillion yuan.

Moreover, as a large category of financial assets, REITs have relatively stable yields and little price fluctuations. In the United States, REITs have better investment return data than bonds and stocks, and the risk is relatively low. In the future, the scope of underlying assets of China’s REITs will also expand to other areas. Such as rental housing, low-carbon related assets and so on. Including these underlying assets, the scale of China’s REITs will be larger than 6.5 trillion yuan.

If only infrastructure REITs are considered in the short term, the market size will be between 5 trillion and 10 trillion. But I think the real market size of China’s REITS will be much larger than this number in the future.

Sohu Finance: How to correctly understand the relationship between REITs and real estate?

Liu Qiao: People’s There has always been a misunderstanding in the perception of REITs. The English literal translation of REITs is “real estate investment trust fund”. The underlying assets are real estate, not just real estate. The wrong perception of real estate has led people to think that REITs are investment funds with real estate as the underlying assets. The launch of REITs is just another channel for real estate companies and related issuers to provide financing. Therefore, as China’s real estate market is undergoing structural transformation and controlling housing prices, everyone has many concerns about the launch of REITs. This is one of the reasons why public REITs have not been called out for so many years. .

It took many years for academics and policy makers to correct their perceptions of REITs. In the U.S., REITs are really only 13.2% of the underlying assets related to real estate A larger proportion is retail stores accounted for 18.28%, hospitals accounted for 10.72%, infrastructure accounted for 13.92%, industry accounted for 7.7%, and other assets such as hotels and data centers.

Sohu Finance: What impact does the listing of REITs have on residents’ financial management?

Liu Qiao: The value of publicly offered REITs is that they have both financial and real estate attributes, and they are the most typical example of the integration of industry and finance. The performance of REITs in the market depends on the operational capabilities of the management team.

Investing in public REITs funds with relatively high quality underlying assets, strong management team operational capabilities, and growth potential is also equivalent to sharing the dividends brought by China’s future economic growth and the continuous improvement of infrastructure investment efficiency.

Sohu Finance: Under global inflation expectations, what are the effects of REITs on residents’ wealth management?

Liu Qiao: To assess whether a financial product is a good asset, one cannot look at how much it rises in a bull market, but depends on its resilience in a bear market. REITs have weak volatility and strong anti-cyclical ability. When the economy performs poorly and the financial market is in a counter-cyclical period, the performance is more stable. When allocating assets, REITs are an ideal alternative investment product.

Under global inflation expectations, REITs have a certain stabilizing effect on residents’ wealth management.

Sohu Finance: How has the US REITs’ yield performance over the years?

Liu Qiao: From 2000 to 2016, the average annual return rate of US REITs reached about 12%, which is much higher than the average of the S&P 500. After the 2008 financial crisis, REITs continued to grow in decline, but still surpassed the stock and bond markets.

Sohu Finance: The listing of REITs refers to the advancement of the Science and Technology Innovation Board. What impact will it have on the Sci-tech Innovation Board and ChiNext after it goes public?

Liu Qiao: As a growing financial market, everyone has high expectations for the follow-up development of REITs. And after sorting out the pilot experience, the scope of the overall underlying assets of REITs will continue to expand.

The US REITs market has the largest scale and the longest development time in the world so far, and the underlying market has a very wide range.but China’s current REITs’ underlying assets are only infrastructure. In the future, this scope will continue to expand during the development process. I believe that rental housing and carbon-neutral assets will be gradually included.

In this case, REITs will eventually become a very important part of the entire capital market. Its size, coverage, support for the real economy, and influence on the capital market will expand year by year.

However, when discussing the impact on the traditional capital market, the current REITs are only pilot projects with limited scale.For example, the total volume of the 9 REITs listed this time is only more than 30 billion, and the market value of the A-share market is close to 80 trillion, so So far, the impact of REITs on the stock market is very small .

If we only look at the direct price impact or the liquidity impact, the impact of REITs on the Sci-tech Innovation Board and ChiNext will be minimal in the short term. However, the launch of publicly offered REITs is an important measure for the supply-side reform of the financial sector. Its significance is equivalent to the launch of the science and technology innovation board and the implementation of the registration system. The positive impact will gradually become apparent.

Sohu Finance: REITs funds have a certain degree of “share nature.” What do you think of the risks that it may bring when trading in the secondary market?

Liu Qiao: From the perspective of recruitment and subscription, REITs are highly recognized by market investors. But REITs are not growth stocks in the classic sense, but more like sound investment products. It is less speculative and more suitable for long-term holding and investment.

I am worried that everyone thinks it is speculative and thus speculates on the price. If the price rises too sharply, it will bring noise to the steady and sustainable development of public REITs in the future.

Investors should have a clear understanding of the pricing rules of REITs and establish a correct investment philosophy, so that the development of REITs can proceed steadily.

Sohu Finance: In addition to new infrastructure, what other areas or groups will benefit from REITs?

Liu Qiao: From the issuer’s perspective, asset owners included in the scope of the REITS pilot program are definitely beneficiaries, such as highways, environmental water services, industrial parks, logistics, and data centers.

However, from the perspective of investors, the long-term significance of the benefits is that REITS public offerings provide public investors with the fourth category of financial assets, enabling the public to invest in real estate and benefit from it. In addition, REITs have stable cash flow, stable yield, and risk between stocks and bonds, which is good for long-term institutional investors.

Finally, local governments and platform companies are also major investors in national infrastructure construction. After REITS pilots, the scale will continue to expand, and as the market becomes more and more mature, the future will bring about a radical change in investment philosophy. So local governments are also beneficiaries.

In addition, finances can also collect the taxes that occur during the issuance and transaction process of REITS, so public offering of REITS is a great attempt without losers.

Tim Draper. “I think I would be right on this one,” Draper told CNBC Make It. Draper first made his bold price prediction in 2018, when Bitcoin was trading around $8,000, according to Coinbase. “I will be really right or really wrong [nhưng] I’m pretty sure it’s going in that direction,” Draper said. That’s because Draper believes that virtual currency will be “more used by then”. Draper predicts: “Wait about a year and a half and retailers will use Opennode [một bộ xử lý thanh toán Bitcoin], so people will accept Bitcoin.” Currently only a few major companies accept Bitcoin directly or indirectly through a third-party digital wallet app, including Microsoft, PayPal, Overstock, Whole Foods, Starbucks, and Home Depot. And many experts see Bitcoin as a store of value, like gold, rather than currency. Draper said: “I think [Bitcoin] will continue to increase because there are only 21 million in all. Thanks to its code, only 21 million Bitcoins can be “mined”. To date, over 18 million bitcoins have been in circulation. Draper, 63, who built his fortune by making early investments in Twitter, Skype, Tesla and SpaceX, did not share how many Bitcoins he currently holds or whether he invests in other cryptocurrencies. or not. Draper says most engineers are working on improving Bitcoin right now. Last week, Bitcoin had its first upgrade in four years, called Taproot. Going into effect in November, the reported change will mean greater security and transaction efficiency. It is also meant to unlock the potential for smart contracts on the Bitcoin blockchain, CNBC reported. Bitcoin “Like Microsoft” [trong] software world or Amazon in the world of e-commerce,” said Draper. He believes that Bitcoin will be at the center of all financial activity in the next two to three decades. However, the value of Bitcoin is highly volatile and there are concerns about its massive energy use. For this and other reasons, experts recommend only investing as much money in Bitcoin as you can afford. Hundreds of billions of dollars were wiped out after Elon Musk tweeted in May that he would be suspending Bitcoin purchases at Tesla due to environmental concerns. In 2014, Draper purchased nearly 30,000 Bitcoins seized by US Marshals Services from the Silk Road Online Black Market.

Produced | Sohu School of Business

Editor | Wang Zhen

According to the “Research Report on China’s Third-Party Payment Industry in 2021”, according to the statistical data of iResearch, The third-party payment market has experienced rapid development, and the total scale of mobile payment and Internet payment will reach 271 trillion yuan in 2020. Third-party payment has made China’s payment market one of the world’s leading payment markets with its convenient, efficient and safe payment experience.

As early as 1998-2005, third-party payment institutions such as Capitel, Alipay, Lianlian Pay, Kuaiqian and Tenpay were established one after another to provide payment channels for online commercial activities. In 2010, the People’s Bank of China issued the “Measures for the Administration of Payment Services for Non-financial Institutions” and issued payment business licenses to eligible institutions. These measures confirmed the legal status of payment services for non-financial institutions and adopted them as regulatory standards. To ensure the long-term and orderly development of the business and ensure the long-term development of the industry.

Looking back on the growth path of third-party mobile payment in my country, it originated from e-commerce, which has experienced explosive growth due to social red envelope transfers, and offline QR code payment has entered a new offline-driven track. With the rapid growth of scale, the penetration rate of third-party mobile payment has gradually increased, and the growth rate of the industry scale has stabilized. Even in the special year of 2020, only the first two quarters of offline QR code payment has been affected to a certain extent, and the industry as a whole can still maintain a stable growth trend.

From the perspective of changes in the structure of mobile payment itself, the emergence of offline QR code payment has changed the form of offline mobile payment, which has steadily increased the proportion of consumer transactions. In the financial and personal application trading sectors, with the exception of the early social red envelopes and baby currency fund products, there has not been a leap-forward product form since 2016. The growth of the business scale of these two sectors mainly comes from the mobile payment itself. Increasing penetration rate, increasing user stickiness, and the development of Internet wealth management and consumer finance businesses.

Comparing the structure of bank card transactions, we have also experienced an increase in the proportion of consumer transactions, but in 2020, bank card transfer transactions accounted for 85.5%, and third-party mobile payment personal applications and mobile finance accounted for the total proportion. It’s still not enough, so in large-amount financial services, personal application transfer services, and B-end transfer services, third-party mobile payment companies still have room for power and have growth potential.

In 2020, the first echelon Alipay and Tenpay will occupy the leading position in the market with a relatively large lead. . Payment companies in the second tier are working hard in their respective subdivisions.

The blue ocean oasis subsidy for the catering industry has temporarily come to an end, and the monetization rate of the payment business rebounds

In 2017, WeChat and Alipay successively launched the “Oasis Plan” and the “Blue Ocean Plan” for merchants in the catering industry. At the beginning of the event, merchants in the catering industry enjoy low or even zero rates for receiving payments, and service providers who promote merchants can also receive a 0.2% rebate based on the transaction amount. As the penetration of catering merchants continues to increase, the rebate ratio of Alipay WeChat to service providers will be reduced to 0.1% in the later stage. Until 2020, the Blue Ocean Oasis plan will gradually adjust merchants’ payment rates to the normal rate of 0.38%. The service provider rebate ratio was further reduced to 0.05%. At the same time, Alipay has launched the “New Blue Ocean Plan” for some merchants that are equipped with designated IoT operating equipment. But overall, the subsidy for the traditional blue ocean oasis will officially end in 2021, which means that this part of the transaction scale can not only get the normal payment fee, but also reduce the 0.05%-0.2% subsidy for service providers. The analysis believes that the phased end of the Blue Ocean Oasis Plan means that the benefits of this part of the transaction can be increased from -0.2% to 0.15% of the transaction scale to 0.38% of the transaction scale, and the overall transaction scale is increased by 0.23% -0.58%.

The party in the new scenario enters, forming a closed loop of the payment business, and increasing the compliance requirements for the realization path

For Internet giants such as Meituan, Toutiao, and Pinduoduo that have entered third-party payment in recent years, the consideration of starting payment services is usually for three reasons: One is to form their own business closed loop to prevent user transaction information and payment information from being out of the system. Other third-party payment companies can obtain the advantages of their own business; the second is that with the expansion of the business scale in the system, the total amount of payment transaction fees continues to increase, and the establishment of free payment channels can save this part of the cost; the third is to pass After the transaction flow in the system is converted into payment flow, services such as credit and wealth management are further superimposed to earn financial service fees.

Return to the nature of payment business, with core capabilities in user operations and merchant operations

Looking back at the development history of third-party payment, whether it is the “guaranteed payment model” in the e-commerce field, the red envelope in the social field or the offline QR code payment, every increase in growth rate comes from the innovative products provided to users and merchants. Unique value. Therefore, although the current anti-monopoly regulatory compliance measures facing the industry have caused some business development expectations to be different from before, However, it is precisely these anti-monopoly compliance measures that enable industry participants who have gradually shown to rely solely on the advantages of scenarios to expand their business scale to re-think about the new payment business value they can provide. With the implementation of anti-monopoly compliance measures, it is foreseeable that the concentration of the third-party mobile payment market will decline to a certain extent. In this process, a complete user and merchant operating system will maintain the stickiness of users and merchants. Providing unique value is the key capability of payment institutions.

Barcode payment provides a window for the digital upgrade of offline merchants, and diversified value-added services further facilitate digital transformation

For many online, small, medium and micro businesses, offline barcode payment is one of the first digital methods they contacted. In the process of continuous penetration of barcode payment, offline small, medium and micro merchants have also established a certain connection with their service providers. In terms of the classification of barcode payment, it can be divided into three methods: the payment code and personal code directly connected to the head payment agency, and the aggregate payment that requires other acquirers or acquirer service providers. While providing merchants with the integration of multiple payment channels, the provider of aggregate payment further superimposes services such as cashier terminal sales and maintenance, marketing diversion, etc., while increasing their own business income, further improving the stickiness of merchants and deepening the degree of digital transformation of merchants.

Increased demand for equipment upgrades in downstream systems, with less impact on mid- and upstream companies

The central bank’s digital currency replaces M0 and belongs to cash currency. According to the idea of ​​digital currency positioning as cash currency, we review the provisions of the “Provisions for Deposit Management of Non-bank Payment Institution Customers” issued this year: “Non-bank payment institutions passed the regulations in accordance with the regulations. If the customer is to redeem the provision in cash, it should be processed through the filing own fund account first, and then the corresponding amount of the client provision fund should be transferred to the filing through the main supervision agency of the provision fund from the central storage account of the provision fund. Own funds account”.

It can be seen that the digital wallet service of third-party payment institutions and the merchant-side acquiring service are still one of the important carriers of their circulation. The promotion of digital currency and the application of third-party payment are complementary and not a substitute for each other. At the same time, the clearing institution, which is an important infrastructure of the payment chain, will still play a clearing role in the digital currency era. In the downstream of the payment chain, acquiring service providers and machine tool manufacturers need to upgrade their original equipment and systems in order to allow digital currencies to have a wider range of payment scenarios. This certainty will be for downstream companies. Business income brings special growth drivers.

Service providers are facing transformation challenges and orderly integrate diversified corporate services

The emergence of offline QR code payment is the first contact between many offline merchants and digitization. With the sweeping wave of digitization and the upgrade of payment-related services, QR code ordering and merchant mini programs have become the entry point for further digitization of merchant business.

With the promotion of QR code ordering, small program takeaway, and ordering applications, it not only means savings in operating costs for merchants, but will also be accompanied by digital upgrades in the pre-payment link, which will make merchants’ operating information more complete, which is conducive to further progress. Analyze and improve their own operating efficiency and obtain external financial support.

For payment companies, the distinction between online and offline scenarios will be broken. Merchant services will still focus on offline attributes, but the services provided for them will not be limited to offline payments, which raises the overall technical capabilities of service providers. Requirements.

When devices with screens cast screens to each other to build a super terminal, when devices without screens call system resources on demand, this is Hongmeng’s revolutionary breakthrough in distributed soft bus, distributed calls, and distributed security. The good news for Huawei is constantly coming out!

1. Huawei Hongmeng HarmonyOS 2 has been officially released on June 2. In just one week, the number of HarmonyOS upgrade users has exceeded 10 million, and there are still a large number of users waiting for the upgrade. Of course, one of my own p30s has already applied for internal testing. , Just wait for the results to be announced on the 17th! We also noticed that the number of HarmonyOS users that Huawei expects this year has ranged from 200 million originally conservative by Xu Zhijun to 300 million by Wang Chenglu. Recently, Wang Chenglu has updated the expected number of users to 360 million. Now Huawei R&D engineers are working overtime, 3 shifts, many mobile phones to be upgraded next year have been scheduled for the fourth quarter of this year, and some have already begun internal testing!

   

2. HUAWEI CLOUD ranks first in the container software market in China. International Data Corporation (IDC) recently released a report “PRC SDC Market Overview and Analysis, 2020H2/2020”, which shows that HUAWEI CLOUD ranks among China’s container software with a market share of 24.3%. Market first.

3. Huawei Hongmeng formally reached a cooperation with Mercedes-Benz. Although it does not have much material significance, Mercedes-Benz, as a benchmark for the automotive industry, is Huawei’s pavement for Hongmeng’s next car deployment. At the same time, Turkey’s TOFAS Automobile Company uses Huawei’s computing, network and The storage integration program completed the database infrastructure transformation project and won the IDC “Annual Best Data Infrastructure Project” award. TOFAS is a joint venture of Fiat Chrysler Automobiles (FCA) and is the only company in Turkey that has made it to the Fortune Global 500 list. The project won the “Best Data Infrastructure Project of the Year” award at the Smart Manufacturing Summit hosted by IDC and became an industry benchmark.

1. Huawei’s largest cyber security transparency center was officially opened today in Dongguan, China. At the launching ceremony, Huawei released the “Huawei Product Security Baseline” white paper, which for the first time announced the product security requirements baseline framework and management practices to the industry, communicated with customers, suppliers, industry standards organizations and other stakeholders to jointly improve the overall industry network Safety level.

   

   Ren Zhengfei once said that as long as it can be the most advanced in the world, then we are the standard, and others will move closer to us!

Besides, European Commission President Ursula von der Leyen also expressed optimism that the two sides will reach an agreement as soon as possible. US and EU express cooperation on protection issues for Boeing and Airbus In March, the EU and the US also agreed to suspend counter-tariff actions for four months over a dispute related to protections for Airbus and Boeing. The US accused the EU of protecting aircraft maker Airbus to create a competitive advantage, while the EU also accused the US of taking similar measures against Boeing. The related lawsuits have dragged on for the past 17 years but have not come to an end. The dispute has led Brussels and Washington to repeatedly launch tariffs to punish each other. In March 2018, former US President Donald Trump imposed 25% tariffs on imported steel products and 10% on aluminum imports from the EU, Canada and Mexico. In response, the EU approved a regulation to impose tariffs on $3.2 billion in US goods, including a 25% tax on the country’s whiskey. In addition to the issue of Airbus-Boeing, the two sides are currently arguing about France, Spain and some EU countries imposing digital taxes on major US technology firms.

The US-EU reached a historic agreement to settle a 17-year dispute involving Airbus and Boeing. (Source: Getty Images) US officials confirmed that the country and the EU had reached an agreement to end a dispute over government subsidies to the world’s top commercial aircraft manufacturers at the US Summit- EU in Brussels. The two sides agreed to suspend the tariffs for a period of five years. US Trade Representative Katherine Tai said the deal “resolves a longstanding trade issue in the US-EU relationship”. “Instead of fighting one of our closest allies, we are ultimately fighting a common threat together,” Ms. Tai said. Under the agreement between Airbus-Boeing, any passenger aircraft built in the future will not be allowed to receive subsidies from the government. In addition, these two allies also pledged to settle another dispute related to imported aluminum and steel products. According to the CNN The fact that the EU and the US reached an agreement to end the dispute and impose a “eaten patty” tax for the past 17 years is a positive signal for bilateral cooperation under President Joe Biden. Immediately after the news was announced, shares of Airbus group rose 1.4% on the Paris exchange. Meanwhile, shares of Boeing have not changed much. (according to CNN)

Facebook sees great potential in rural Vietnam (Photo: Nikkei) Facebook is looking for a new growth approach in rural Vietnam as its advertising business gets tougher than before. According to Facebook’s assessment, rural areas in Vietnam are rapidly adapting to smartphones, especially features such as chat and video calling. Responding to the Nikkei newspaper, the social network said that Vietnam and Thailand lead the world in using chat in online sales, in terms of the volume of messages exchanged between businesses and customers. Mr. Khoi Le, in charge of Facebook business in Vietnam, revealed that many of his colleagues in the US have been “opened eyes” to this trend. Currently, Vietnam is an extremely important market for Facebook. According to Nikkei, in its financial report filed in January this year, Facebook listed Vietnam as the largest revenue engine in Southeast Asia. Globally, nearly all of the company’s revenue comes from advertising. Mr. Le said rural markets are part of Facebook’s next phase. Of the 98 million Vietnamese, 62 million live in rural areas. Even so, their spending is expected to grow faster than those of urban dwellers. Facebook forecasts that rural spending on FMCG will grow 7% annually from 2020 to 2025, compared with 2% in cities. A survey by GroupM company on 4,500 Vietnamese people living in rural areas, Facebook pointed out that if in 2018, television is still their main traditional means, by 2020, the rate of watching TV will be only 86% and remaining Internet usage rate will reach 91%. Mr. Le shared: “I used to think that rural people are not really proficient in using the Internet.” However, a Facebook survey found that 92% of rural households own a smartphone, using it to play games, shop and watch television. “They used every tool at hand extremely proficiently,” Mr. Le said. Given the growing video-watching habits of Vietnamese users, Facebook has identified several areas of focus, including live streaming, TV shows on Facebook Watch, video clips in the news feed, reposts. from Facebook-owned Instagram. For e-commerce, Le said these options will complement Facebook’s chat feature, from chatbots to allowing sellers to answer questions directly via livestream. The company hopes it will help retailers stay connected with customers, especially after Apple’s policy took effect in April, requiring iPhone owners to allow apps to track them. The change in Apple’s policy means that companies buying ads from Google or Facebook will send targeted ads to the right audience. On Monday, Apple unveiled more security features for its latest operating systems, a move expected to further disrupt online advertising. According to Phuc Ngo, Director of Strategic Planning at marketing agency Vero, advertisers are still figuring out how to adapt to Apple’s strict tracking policy. Custom ads are currently the most effective, while “community commerce” like Facebook is touting plays a small role in the translations he manages. Mr. Ngo said: “Before the policy change, you can completely depend on Facebook’s artificial intelligence because it is very smart.” While the Vietnamese countryside is getting richer, it still lags behind the cities. The minimum monthly wage in Hanoi is 4.4 million VND, compared to 3 million VND in poor provinces. Focusing on video will bring Facebook closer to competitors like YouTube, TikTok. In contrast, TikTok is also wary of Facebook and YouTube. A survey of research firms Decision Lab said Facebook is the top choice of Vietnamese users when it comes to watching short videos, but it lost 3% in the first quarter from a year ago, while TikTok doubled its market share. Although Mr. Le emphasized the role of e-commerce in helping businesses connect with rural customers, cost is still a major obstacle. With little infrastructure outside of cities, overall logistics costs equate to 16.8% of gross domestic product, higher than the Asian average, according to the Ministry of Commerce’s 2020 Vietnam Logistics Report. . Companies can advertise their products to Vietnamese farmers. But shipping those products after a successful promotion is another matter.

After a hacker attack Investigators come to extorted pipeline millions

Status: 08.06.2021 02:12 a.m.

It has been a month since the largest gasoline pipeline in the United States was hacked. The operator paid millions to the extortionists. Now the investigators report a success. After the hacker attack on the largest gasoline pipeline in the United States, investigators recovered most of a ransom payment in the digital currency Bitcoin. The US Department of Justice announced that 63.7 Bitcoin, currently valued at around 2.3 million US dollars, had been seized. The FBI was able to identify a digital wallet that hackers allegedly used to collect a payment from the company concerned, said the agency’s deputy director Paul Abbate.

Hacker from Russia suspected behind the act

The company Colonial Pipeline announced in early May that it had been the victim of a hacker attack. As a result, the pipeline, through which about 45 percent of all fuel consumed on the US east coast runs, was temporarily completely shut down. There were petrol shortages in parts of the country. The capital Washington was particularly hard hit, where at times 88 percent of the gas stations ran out of fuel. “It was an attack on one of our most important national infrastructures,” said Lisa Monaco from the US Department of Justice. The US government suspects hackers from the DarkSide group from Russia behind the crime. Both US authorities and IT security experts strongly advise companies against paying ransom so as not to incentivize cyber criminals to blackmail them. But the pipeline operator paid, as company boss Joseph Blount admitted in the “Wall Street Journal” at the end of May. He authorized a payment of $ 4.4 million. Blount explained the controversial decision by saying that the company was unsure about the extent of the system damage caused. According to the US Department of Justice, Colonial Pipeline had quickly notified the FBI that DarkSide had broken into the computer network and the company had paid the requested ransom of 75 Bitcoin.

Colonial boss praises investigators

In so-called ransomware attacks, data on computers is encrypted – and the attackers usually demand a ransom for the release. Cases in which companies paid were also known before. But it is extremely rare to get the money back. Colonial chief Blount praised the work of the FBI investigators in a statement. He also said the private sector needs to take cyber threats seriously and invest to better defend against them. “Ransomware attacks have increased in scope and sophistication over the past year, targeting our critical infrastructure, businesses of all kinds, entire cities and even law enforcement agencies,” said Monaco from the Justice Department. “Ransomware and digital extortion pose a threat to national and economic security in the United States.” Just a few weeks after the attack on the gasoline pipeline, the world’s largest meat company JBS was hit by a massive cyber attack. Large parts of the production in North America and Australia were paralyzed.

Asia-Pacific countries are expected to reach $2 trillion in e-commerce revenue by 2025. (Source: 4S) The region is projected to witness the highest retail sales growth during 2020-2025, after Latin America. In the official report “Top 100 Retailers in Asia 2021”, Euromonitor International examines how Asia-Pacific’s world-class mobile connectivity enables digital transformation and is supported supported by the region’s extremely tech-savvy consumer segments. According to a statement, last year, businesses that received online orders recorded a growth of 37.6% and will reach 44% by 2025. As retail becomes more competitive to stay relevant in the digital space, localize shopping to individual markets, and personalize the retail experience for retailers. Different customer segments in Asia-Pacific will be essential. Euromonitor International senior research analyst Deepika Chandrasekar said: “As consumers connect and shop online more than ever before, more and more brands are expected to use social media to interact with them. and build trust with consumers beyond acting as a retailer.” (according to Euro Monitor)

Illustration. Source: Internet. Under the impact of the pandemic, Vietnam’s e-commerce market has grown rapidly with a growth rate of 18%, reaching US$11.8 billion. Among them, e-commerce and digital payments are booming with an increasing number of users. However, there has not been much breakthrough in the value of digital payments due to consumer confidence and spending considerations amid the crisis. It is estimated that with the expected recovery of the economy after the pandemic, the value of digital payments will increase by 30% to reach $15 billion this year. According to Appota, in 2020, 121 startups have been providing fintech services. The number of digital payment startups accounted for 31%, more than twice that of peer-to-peer lending companies (16%). As of September 2020, Momo reached 20 million users, becoming the most used payment platform in Vietnam. Meanwhile, intermediary payment service provider VNPay has become the second unicorn startup and one of 12 companies in Southeast Asia valued at $1 billion. Obviously, the digital payments market is very potential but also highly competitive. Due to the implementation of social distancing measures, more and more people are staying at home and using mobile apps online. Short-form video application TikTok has reached 16 million downloads in Vietnam, becoming the latest entertainment trend of users. The market segment is expected to be more active in 2021 with the expansion of Instagram and Youtube. Meanwhile, the online games segment also recorded dizzying growth with 40% growth in revenue, new game downloads and releases reaching $205 million in 2021.

By dedicating a special area in your home to reading in the summer, you’ll help your child find joy in books. Whether it’s a cozy corner in the living room or a special space in a child’s bedroom, creating a summer reading environment will inspire children to read and make reading immersion fun. more taste. This helps children experience reading as a fun summer activity – like going swimming or playing outside – instead of something they think they have to do as homework. In the process of reading, children can write down things they find interesting. Here are 5 tips parents should refer to when planning to create a summer reading space for their children. 1. Capture the spirit of summer This time of year is boundless fun, so reading should spark that relaxed and joyful spirit. Parents should create a reading space that suits the child’s carefree mood. It could be a hammock in the yard, a sofa in the corner or a swivel chair by the window. 2. Create a comfortable atmosphere When it comes to reading, comfort is key. Pay special attention to good lighting when creating a reading environment and make the space as cozy as possible. Wall art and family photos are also a highlight for the reading space to attract young readers, raising the spirit of summer reading. 3. Eliminate distractions Distraction is a dilemma during reading for both young and old. So try to make your child’s reading corner away from the TV and other entertainment devices. Avoid crowded, noisy areas. Children will find it much easier to focus on a book when they have a quiet space. 4. Reasonable arrangement of books Make sure your child’s favorite books are within easy reach. However, don’t be afraid to mix up reading materials. A wide variety of books and materials is available to meet children’s reading needs and interests. 5. Refresh books periodically During the summer, parents should refresh their reading space with new options that match their child’s interests. This way, children will continue to interact, eager to read and learn something new about topics they love. Parents can even make reading more special by designating a specific day of the week to introduce new reading material or host a family pizza party to celebrate a new book. release.

Caramel brown Caramel brown is a bright color but still very “western” and luxurious. Dyeing caramel brown, even if you have mature hairstyles, such as long hair parting, curling, you still do not look “dumb”. The actress who is applying this dye tone is the most beautiful Korean beauty in the world, Nana in the movie “Oh My Ladylord”. Nana can have straight hair or slightly wavy hair, but both exude elegance and style. This hair color is also very suitable for office girls in their 30s because even though it looks so young, caramel brown color still ensures elegance and elegance for the owner. Sepia Eugene also had a successful makeover in part 2 “Penthouse” thanks to switching from short hair to long hair. But that was not enough, it was the red-brown dye that added elegance and playfulness to Eugene, completing her strong image in the second part of the film. Red-brown is a color that is not picky about the skin, and even has the ability to make the skin brighter and more radiant, so please pay attention to this suggestion. In addition to Eugene, Jiyeon also dyed her hair auburn and had a very cold, “lemongrass” look. Flaxseed brown Flaxseed brown is a hot dye color, this dye has a bit of a smoky effect, so it looks quite fanciful and eye-catching. This is also a color that is not too difficult to conquer, women of all ages can make friends. Equally important, flaxseed brown will bring a stylish, trendy but also unique – strange look to the owner, even helping you to get the highest makeover ever. Chocolate brown Chocolate brown is the most basic and easy to conquer color. Dyeing this color, you will not need to bleach your hair, nor spend too much time at the hairdresser. Chocolate brown tones are featured in elegance and elegance but equally “western”, stylish when compared to the above colors. Finally, this is the best skin color dye, every girl’s face will become brighter, younger and more radiant if dyed chocolate brown. Photo: Internet

Voto car cockpit simulation model In which, invention The supporting mechanism for the robot is parallel to the spring system with constant power received exclusive patents from the US Patent and Trademark Office. From manufacturing simulated cars to airplanes … Working at the Simulation Modeling Center, Viettel High-Tech Industry Corporation (VHT) under Viettel Group, is Viettel’s main research and production unit in the military and civil fields, Cu Xuan Hung day and night diligently learning, exploring and utilizing human knowledge to master core technology, creating many simulation products in the military field such as the tank control training simulation system, airplanes, personal shooting, car driving simulations … make an important contribution to the modernization of the army, exporting products to the world. One of the typical products of the VHT research group is to successfully manufacture a Su-30 aircraft simulation for military operations. Right from the beginning of the work, the team stumbled on … a rock when asking the question of buying parameters with the manufacturer, the answer that the VHT engineers received was shaking their heads. They had to mobilize all input data sources from reality in related documents and learn knowledge through many different channels such as the Internet, books, magazines at home and abroad, even going abroad to study. . To simulate an airplane, it takes parameters to perform mathematical equations to represent the state of the plane as well as the situation the plane needs to process. Meanwhile, the parameters of the Su-30 aircraft are unknown. In the end, Hung and VHT’s team found more than 100 types of parameter sets and the testing process alone took several years for the VHT engineers. In the world, only Russia is the only country that owns the Su-30 aircraft simulation technology, the quality of products of the Su-30 aircraft simulation model of the VHT research team is assessed by partners. The height is remarkable. Another product successfully researched and manufactured by Hung and VHT is a driving training simulation system called Voto. The system uses modern simulation equipment and technology, bringing the most authentic experience and feeling to the practitioner, is expected to be a safe and effective solution in driver training. Voto is expected to be Vietnam’s first standard and compliant product for a driving simulator cabin for car driving training. Hung and VHT have applied “the invention of the supporting structure for parallel robot with spring system with constant power” in the research and manufacture of Voto. Thanks to this invention, the model of the car cockpit is truly simulated with the drive control cluster (steering wheel, gear lever, clutch, accelerator, brake …) and the clock system showing speed and rotation. equivalent to real vehicle equipment. It is known that the simulation model of Hung and the VHT team is preparing to be mass produced to bring to the market. … to a patent in the US and the aspiration to reach out For every scientist, having a research topic being patented, especially an invention protected by the United States is considered a special achievement, because the US is a country with such leading technology. Gender, the criteria for approval and certification is a very rigorous and thorough process. By the end of 2020, Viettel has had 4 patents, covering all 3 main areas of activity, including military, telecommunications infrastructure, and civil. The invention helps affirm that Viettel can completely master core technologies, making the most difficult products in the field of software development, especially the database system on memory … One of 4 patent plates The invention issued in the US is that of Cu Xuan Hung and the invention group of “supporting structure for the robot parallel with a spring system with constant power”. It is known that this invention of Hung and the research team has been immediately applied to the production of simulation models of tanks and cars for military training and testing. Talking about the patent and other achievements, Hung shared: “Getting patents or intellectual property is not to beautify the product, but our goal is to achieve product recognition. Viettel is on par with the world. This is an important requirement on the way that the product will gradually be optimized for consumers. VHT does not create products like an inventor, but we create products to contribute to the country, for everyone and contribute a part to build the Group. We call it the startup spirit at VHT, ”said Hung. Mr. Nguyen Vu Ha, General Director of VHT said, “US-protected patents are the recognition of inventions and scientific research, thereby, affirming that Vietnam can stand shoulder to shoulder with public corporations. major technology such as Huawei, LG, Nokia … Having these results, VHT has overcome many difficulties and difficulties not only from research, registration but also practical implementation. Currently, the unit is actively applying the value of invention effectively, contributing to building a growing and growing enterprise, raising the position of Vietnamese knowledge to the world ”.

Chamomile: Chamomile plants are great for purifying indoor air. This beautiful flower plant helps to purify ammonia and other toxic gases in the air. However, you should take care to keep out of reach of children and pets, as chamomile can cause poisoning if ingested. Red Banyan Tree: The red banyan tree, an evergreen variety native to India, is excellent in removing toxic gases such as formaldehyde or carbon monoxide from the air. This plant also helps your home or office have a pleasant scent. Bodhi tree: The almond tree, or spider tree, is also an indoor plant with excellent air purification. The advantage of this plant is that they are easy to take care of and do not cause poisoning, so you can place them anywhere in the house. Ivy: The ivy just helps to add cool green to the indoor space, while also helping to remove harmful gases. This plant can live both outdoors and in no sunlight. Fern: The fern not only helps to purify harmful substances such as formaldehyde from the air, but also acts as a humidifier thanks to its rapid evaporation rate. Gerbera trees: Gerbera trees from South Africa are the ideal ornamental plants to place indoors if you want to both purify the air and adorn the house with colorful colors. Madagascar Hemorrhoid: The Madagascar Hemorrhagic Tree, or dragon tree, is a suitable ornamental plant located in the sun and high humidity. This plant will help keep the air in your home fresh and clean. Rhizophora: Rhizophora is a small bonsai, you can completely put them on your desk or indoor drinking table to purify the air. Royal orchid: Royal orchid not only adds elegant beauty to your home, but also helps remove all pollutants from your home atmosphere. Queen betel nut tree: The betel nut tree king has both great cleaning effects and beautifies your home space with bright green and crimson colors. Aloe vera: Aloe vera: In addition to its health and beauty benefits, it also removes benzene, formaldehyde and detergent byproducts from the air in your home. Tiger’s Tongue: Tiger’s tongue helps remove harmful gases such as benzene, formaldehyde, trichlorethylene, xylene, and toluene from your home space. Guanyin is a bonsai that is suitable for direct sunlight. This indoor bonsai helps to purify the air from harmful gases such as ammonia, carbon dioxide, formaldehyde and xylene. Seedlings: Plant that removes formaldehyde, xylene, and toluene from the air. However, you should be careful to keep the plant out of the reach of domestic pets, as this can cause poisoning for pets. Endowed Tree: A rich tree is an easy-to-care ornamental plant, which helps remove toxic gases and dust from the air, and increases indoor air humidity.

Tonglu is a county under the jurisdiction of Hangzhou, Zhejiang. It is located in the core area of ​​the famous national scenic tourist area “Fuchun River-Xin’an River” golden tourist route. It is located in the middle reaches of the Qiantang River, and the Fuchun River crosses the county border. Since the county was founded in 225 AD, it has a long history of nearly 1800 years. Even though Tonglu is just a small county town, it is a well-known “place of beauty and beauty, and a country of chic civilization”. It has a very obvious location advantage. Although it was relatively poor in the 1980s and 1990s, with the rapid development of light industry in Jiangsu and Zhejiang, Tonglu people who are hardworking, brave and willing to bear hardships have business opportunities in Shanghai foreign trade and Hangzhou e-commerce. Under the leadership of the company, after unique innovation and unremitting efforts, it has become a famous “hometown of express delivery industry”, creating an economic miracle. Today, Tonglu is known as the most beautiful county town in China. It is surrounded by mountains and rivers, with a great beauty, a gathering of humanities and rich products. In the 2021 recommended travel list published by the US “National Geographic” magazine, Tonglu, as the only selected city in China, has aroused widespread attention from domestic and international media. No, seeing that the heat has not yet receded, a few days ago, Deng Chao and Sun Li’s “come here” made Tonglu a hit. Netizens expressed that they were overwhelmed by Tonglu’s poetry, paintings and landscapes, and many more. Put it on the list of tourist destinations during the May Day holiday. “The mountains are tender and tender, and the Tonglu County is chic. The scenery is extremely windy and smokeless, and it can be said to be the best.” Tonglu is rich in tourism resources, and the scenery is beautiful and beautiful. The Daqi Mountain in the territory is known as “the first mountain in the south of the Yangtze River” in history. It is famous for its majestic, dangerous, strange, beautiful and open, and it is a “recreation paradise” integrating the scenery of the Jiangnan landscape and grassland. Tongjun Mountain is one of the famous scenic spots in Tonglu, with its profound heritage and magnificent scenery. It was called the “Holy Land of Medicine Ancestor” by the later world honours. The Yaolin Wonderland, known as the “Crown of the Caves in the Country”, is magical, illusory and magnificent, and has been rated as the “Forty Top Tourist Attractions in China”. The Fuchun River, known for its beautiful water color, rushes in front of Tonglu County, attracting the fascination and praise of countless literati and writers. “The Qiantang River is as far as Tonglu, the water and blue mountains and green paintings are not as good”, “The world is beautiful, ancient and modern promote Fuchun”, etc., are all affirmation of its endless charm. Although Tonglu is famous all over the world for its picturesque landscapes, its profound cultural landscape is also praised by countless tourists throughout the ages. The Yanziling Diaotai, one of the historical sites of the Eastern Han Dynasty, is engraved with the world’s full admiration for Yan Gong’s refusal to popularize and retreat to the landscape between the ancient buildings. It can be called the first of the top ten “diaotai” historical sites in the country. The ancient village of Shen’ao, known as the “first village in the Southern Song Dynasty”, has a unique water system that is similar to Anhui Hongcun. It is thick and elegant, with vicissitudes and vicissitudes of life. It can be called the most beautiful ancient village in Zhejiang. The She nationality township of Eshan in Tonglu, nestled in the bamboo sea of ​​Qingfeng, has a very strong ethnic atmosphere. It is the only She nationality gathering place in northwestern Zhejiang. It is known as a small paradise in the world, Xishuangbanna in Zhejiang, and the first hometown of the She nationality in China. In addition, Tonglu has many special delicacies and products, such as tribute tea “Xueshuiyunlu”, famous specialty Tonglu chestnut, Fuchunjiang shad and so on.

Produced | Sohu Technology

Author | Zhang Yating

Edit | Yang Jin

Huawei, which has always been prudent and prudent, has recently made intensive adjustments to its cloud business, which has aroused heated discussions in the outside world. On April 9, Huawei announced the appointment of Rotating Chairman Xu Zhijun as Chairman of Huawei Cloud, and Huawei Consumer BG CEO Yu Chengdong was appointed as Huawei Cloud CEO.

A week ago, on April 2, Huawei announced the abolition of Cloud&AI (cloud and computing) BG. On March 30, Huawei just appointed 11 members including Zhang Pingan (formerly President of Consumer Business Cloud Services) as Cloud&AI BG managers; Zhang Pingan was appointed as Cloud BU President.

At this point, the structural adjustment of the cloud business has come to an end in the turmoil. The latest Xu Zhijun + Yu Chengdong, the luxurious lineup of two generations of Huawei’s Titans, also made the speculation that “Huawei Cloud will develop independently or be sold” spread like wildfire. Some insiders bluntly said that “this is the management configuration of a listed company.”

At the Huawei Analyst Conference on April 12, Xu Zhijun gave a formal response to related hot topics. He pointed out that the abolition of cloud and computing BG is to focus on developing cloud business, increase the proportion of software service revenue, and reduce dependence on hardware.

As we all know, Huawei started by making communication equipment, and hardware revenue has always been the main driver. In recent years, the revenue of consumer business, which is dominated by mobile phones, has supported about 50% of its revenue. However, the blow of the ban made Huawei have to think about how to go on leaving the chip?

The cloud business is regarded by Huawei as a key “chess piece” for increasing software revenue. Guowei, the chief product official of Huawei Cloud, told Sohu Technology that this year’s cloud business will definitely continue to grow in three digits. On the one hand, Huawei attaches great importance to the cloud business, and customer demand is also great. According to official disclosures, Huawei Cloud will grow by 168% in 2020.

It should be noted that even if the cloud and computing BG has been withdrawn, the current cloud and computing entire sales and channel system remains consistent. Shi Jilin, President of Huawei Cloud and Computing Global Marketing and Sales Service Department, told media including Sohu Technology, “The future sales and channel system will be optimized and adjusted accordingly as business development needs.”

“The shortcoming that needs to be made up most is the user experience”

Compared with mainstream cloud vendors, Huawei Cloud is almost 10 years behind. Amazon AWS cloud computing service was commercialized in 2006, Alibaba Cloud was formally established in 2009, Tencent Cloud was commercialized in 13 years, and Huawei only established Cloud BU in 17 years and officially entered the public cloud.

“It is necessary to make up for shortcomings but also to find ways to surpass other manufacturers.” Fang Guowei told Sohu Technology that the biggest challenge for Huawei’s cloud business is that the business started relatively late. .

He pointed out that it took Huawei almost four years to go through the product development process of other manufacturers for about ten years. “We started to do public cloud in 17 years and developed more than 200 products in almost four years. The number of products is about the same as that of other vendors.”

The speed of HUAWEI CLOUD’s development should not be underestimated. According to Canalys’s Q4 China Cloud Service Market Report last year, Alibaba Cloud occupies an absolute leading position with a 40% share, Huawei Cloud ranks second with a 17% market share, and Tencent ranks third with a 15% share.

Dai Mingzhe, an analyst at Head Leopard Research Institute, told Sohu Technology that because of its first-mover advantage, Alibaba Cloud has always maintained the first place in market share. However, HUAWEI CLOUD is catching up with its accumulation in the ICT field and the precipitation of the government and enterprise markets, and is constantly shortening the gap with the leading manufacturers in the market.

Of course, in the pursuit of rapid development, Huawei Cloud also needs to make up for its shortcomings. “We are a traditional hardware-advanced company. There are no examples in the world of transforming into a software-advanced company. Our difficulties are imaginable.” Ren Zhengfei realized that changing from selling products to selling cloud services requires building cloud services. The ability and support to provide customers with the operation, operation and maintenance capabilities of cloud services.

A business manager of a domestic leading cloud vendor told Sohu Technology that Huawei Cloud’s long-tail customers have relatively weak operating capabilities. “Customers who consume hundreds of thousands a month in the order of magnitude, either look at the brand or buy the cheap ones. Huawei Cloud is a bit embarrassed in the middle. And the stability and performance of its products still need to be polished.”

Fang Guowei also bluntly told Sohu Technology that the shortcoming that needs to be made up most is the user experience to make the product more usable. Previously, it was more to quickly complement the functions, but there is still a lack of user experience. This year, it will be promoted as a focus.

“For example, in terms of product design, interaction design will strive to be more user-friendly; in terms of documentation, I hope that customers will understand how to operate immediately after reading the documentation, because a very important point in the cloud is self service.”

Relieve the pain of lack of core

Undoubtedly, sending two generals, Xu Zhijun and Yu Chengdong, can see how much Huawei attaches importance to the cloud business. Of course, frequent architectural shocks can also reveal Huawei’s entanglement in exploring cloud services.

At the beginning of 2020, Cloud&AI (cloud and computing) rose to Huawei’s fourth largest BG, Hou Jinlong served as the president of Cloud and Computing BG, and Peng Zhongyang as the president of Enterprise BG.

In January of this year, Huawei internally issued a document stating that consumer business CEO Yu Chengdong will concurrently serve as the president of Cloud and Computing BG, and Hou Jinlong, former president of Cloud and Computing BG, intends to appoint the chairman of Digital Energy. At that time, a Huawei insider revealed to Sohu Technology that “the development progress of the cloud business is average, and the slogans are more powerful. I hope Mr. Yu’s leadership can change the current state.”

On April 2, Huawei adjusted its cloud business again, appointing Zhang Pingan as the president of Cloud BU, and at the same time withdrew the cloud and computing BG, and the original server and storage were classified as “network products and solutions.”

About a week later, Huawei Cloud ushered in new personnel appointments again. Rotating Chairman Xu Zhijun was appointed as Huawei Cloud Chairman, Yu Chengdong was appointed as Huawei Cloud CEO, and Cloud BU added two deputy directors, Peng Zhongyang and Tao Jingwen in charge of corporate business. And process IT.

From the establishment of Cloud and Computing BG to the dismantling of Cloud and Computing BG, Cloud BU has once again returned to an independent state. Xu Zhijun said to the relevant changes that Huawei Cloud has always been an end-to-end independent BU. At the beginning of the establishment of HUAWEI CLOUD, it was hoped to coordinate the operation of servers and storage with HUAWEI CLOUD, but the collaborative operation was found to consume the energy of the cloud team.

He pointed out that the adjustments made now are to hope that the cloud business will be more independent and focus on developing cloud. At the same time, in the long run, we hope to increase the proportion of software service revenue.

Under the influence of the US ban, Huawei is also actively thinking about future business development issues. How does the future go? Xu Zhijun put forward five key strategic measures in the future, and the first one is to optimize the industrial mix and enhance the resilience of the industry, especially the enhancement of software capabilities, the strengthening of investment in advanced technology and weak-related industries and the investment in the smart auto parts industry.

Dai Mingzhe told Sohu Technology that under the ban, the chip industry chain will have a certain impact. However, Huawei’s cloud business will focus on software development in the future, and it is expected that this impact will be mitigated to a certain extent.

Can the cloud business become the next “cash cow”?

The cloud market still has development potential. Gartner data shows that as of 2019, the global cloud computing market reached US$188.3 billion, and it is expected that the market size will reach US$350 billion in 2023. According to the “2020 Cloud Computing Development White Paper” issued by the Institute of Information and Communications Technology, China’s cloud computing market is expected to continue to grow rapidly in the next four years.

At the same time, the cloud business has brought huge returns to the top manufacturers. According to the 2020 earnings report, AWS cloud services contributed 11.7% of revenue and 59% of profits for Amazon. According to Microsoft’s financial report, since the Q3 quarter of fiscal year 2020, revenue from the smart cloud business has become Microsoft’s largest source of revenue for three consecutive quarters.

Of course, before the cloud business brought huge returns, it was also a terrible “golden beast”. Only after a huge investment can manufacturers “lie down and make money.” From the official commercial use of Amazon AWS in 2006 to 2015, it took nearly 10 years to turn around. year. Alibaba Cloud was founded in 2009, but it achieved breakeven for the first time in the fourth quarter of 2020, and it took about 11 years from a huge loss to a balance.

Gu Fan, general manager of cloud service product management for AWS Greater China, once said that it took nearly 10 years for AWS to achieve its first $10 billion in revenue from scratch, and it took 23 months for the second $10 billion increase. The third $10 billion increase took 13 months.

Huawei hopes to avoid excessive capital investment and emphasizes the construction of application ecology. Ren Zhengfei pointed out in his internal letter at the end of last year, “We can’t simply take the same path as Ali and Amazon. We don’t have that much money. They have endless amounts of money in the US stock market. How do we develop, we must find a way out. , Rather than simply imitating.”

In China, BAT Internet vendors, three major operators, Huawei Cloud, Kingsoft Cloud and other vendors gathered in the cloud computing track. A cloud computing-related practitioner told Sohu Technology that compared with other vendors, Huawei’s advantages lie in sales capabilities, key customer relationships, hardware coordination capabilities, and a top-to-bottom ecosystem.

Through the growth process of Amazon and Alibaba, we can see that cloud is not a “quick money” business. From its exposure to cloud computing in 2011, to its formal entry into the public cloud in 2017, and to the further improvement of its strategic position today, Huawei has not disclosed the revenue of its cloud business to the public.

It is foreseeable that Huawei Cloud still has a long way to go in the process of increasing software revenue and optimizing the industry mix.

Pentagon Motor Group (PMG), part of Motus Group of UK has analyzed more than 7 million hashtags on Instagram to find out the beautiful roads that are most “checked-in” by tourists in the world. Specifically, PMG has listed the most famous routes in the world with their locations and lengths. Next, the survey team used the hashtag data on Instagram to find out how many “check-in” photos each place had, dividing the number by the distance length and the average mile (1.6 km ) how many such photos Accordingly, topping the list is the 252-kilometer Great Ocean Road in Australia with 5261 photos / km, followed by the US Big Sur with 145km with 3,266 photos / km, Jebel Hafeet in the UAE ranked 3rd with the length of 11, 2km with 3025 photos / km, Vietnam’s Hai Van Pass is 4th with a length of 20km and has 2,686 photos / km In addition to the above achievements, Hai Van Pass has also been in the “top” of the 10 most beautiful coastal roads in the world voted by the Guardian newspaper in 2015. So what is special that makes this road get a lot of recognition and love. of such tourists at home and abroad? It is known that Hai Van pass also has another name: Ai Van pass (because there is a gate on the top of the old pass) or May pass (because the top of the pass is often covered with clouds), 500 m high above sea level, long 20 km, lying on a mountain branch stretching to the sea, crossing Bach Ma mountain range (part of Truong Son mountain range), is the natural geographical boundary of Thua Thien Hue province and Da Nang city. Before the Hai Van tunnel was built, due to the complicated topography, relatively high slope, the continuous winding road with many “death” bends, often landslides in the rainy season … so Hai Van Pass was Considered as the most dangerous pass in Vietnam, it is the worry of many drivers and passengers passing through this area. However, Hai Van pass is the most poetic, majestic and magnificent pass in Vietnam with a vast blue sea on the other side, and the other leaning against the same mountain, creating a picture of a charming mountain. Beautiful but challenging, Hai Van pass quickly attracts many travelers to explore and conquer Coming to Hai Van pass, visitors can not only satisfy the feeling of conquest but also visit many other interesting points. The first is Hai Van Quan (also known as Hai Van gate, located on the top of Hai Van pass). The gate was built in the Tran dynasty, restored in 1926 under the reign of Emperor Minh Mang (Nguyen Dynasty). The building is made of red brick, about 6m high, below there is a large arch, above is a separate floor with windows to observe. The front door facing the Thua Thien district “Hai Van Quan”, and the door facing to Quang Nam is titled “The first majestic Thien”. This is a historic architectural work, because it has witnessed many tours of feudal kings. Not only that, Hai Van Quan is also a strategic military position. Currently, Van Quan gate is an attractive tourist destination. When standing on Hai Van Quan, you will admire the panoramic view with breathtaking passes, hills covered with green carpet, sky and sea are one … Here, you can shoot for My best pictures about Hai Van After exploring Hai Van Quan, visitors can go down to the foot of the pass to admire Lang Co Bay This is one of the most beautiful bays in Vietnam with peaceful and poetic beauty, mountains stretching to the sea and unspoiled white sand. Here, visitors can enjoy the beautiful scenery, enjoy specialties in Lang Co Bay or experience fun activities and resorts at the resorts here. In addition, the railway at Hai Van Bac station (a point of the North – South railway line, connecting Lang Co station in Hue with Hai Van station of Da Nang) is also a destination “attracts” visitors in the pass area. customs vein Along this track, you will gradually get lost in a secret world, away from the noise of the city. The two sides of the track are rows of green and beautiful trees like movies In addition, at the foot of the majestic Hai Van pass, there is a beautiful sky gate, which is the Don Ca arch bridge, located in the border between Da Nang and Hue Unique design with solid pillars and classic arches, the corner of Don Ca arch bridge attracts many visitors to “check-in”. In particular, at the foot of the Don Ca arch bridge, there is a cool stream flowing through. Visitors coming here both have unique pictures by the stream, the backdrop is the archway, and experience the fresh nature and a little sense of adventure. With only these highlights, Hai Van Pass deserves to be a once-in-a-lifetime destination for every traveler.

Program No. 02-CTr / TU on “Promote innovation of growth models, restructure the economy and international integration, improve productivity, quality, efficiency, competitiveness, economic development. The fast and sustainable capital in the period of 2021-2025 ”has a 3-part structure, including: Evaluation of implementation results in the period 2015-2020; goals, targets, requirements, tasks, and key solutions for the period 2021-2025 and implementation organization. In addition, the program also has 6 appendices, a list of key tasks for implementing the program. The program sets out 5 specific goals, namely: Controlling the Covid-19 epidemic and effectively implementing the “dual mission”; recovering economic growth with synchronous solutions associated with innovation, creativity, taking advantage of the achievements of the Fourth Industrial Revolution; attract, manage and use effectively resources of the economy; formulating and perfecting mechanisms and policies to create a breakthrough in economic development; improve the efficiency of foreign affairs and international integration. According to the Chairman of the City People’s Committee, Program No. 02-CTr / TU has 11 main targets, prominent, by 2025, the growth rate of Gross Domestic Product (GRDP) on average is 7.5-8%. ; Average GRDP / person 8,300-8,500 USD; The economic structure is: Services accounts for 65-65.5%; Industry and construction accounts for 22.5-23%; Agriculture, forestry and fisheries account for 1.4-1.6%; investment capital for social development is 3.1-3.2 million VND (current prices, up 12.5-13.5% / year). In addition, the city strives to achieve a digital economic ratio in the GRDP of about 30%; export turnover reached 20.47 billion USD; The number of tourists welcoming and serving is from 35-39 million, including 8-9 million international visitors … Focusing on restructuring and developing the economy quickly and sustainably In depth analysis of 6 groups of tasks and key solutions, Chairman of the City People’s Committee Chu Ngoc Anh said that the number one task and solution is to improve the institution, further improve the effectiveness and efficiency of management. and administration of the government at all levels associated with the restructuring of the economy, improving productivity, quality, efficiency and competitiveness. In particular, the city has identified an important goal to continue researching and proposing the Central Government to amend and supplement specific mechanisms and policies for the capital to meet the development mission in the new period (especially). especially mechanisms and policies to remove existing difficulties and problems, lasted for many years, through different periods and policies such as old apartments, service land). At the same time, Hanoi will focus on proposing the Central Government to approve the city construction planning until 2030, with a vision to 2045; amending and supplementing Resolution 11-NQ / TU of the Politburo on the direction and tasks of the capital development; amending the Capital City Law; Summary of the implementation of the Resolution 15/2008 / QH12 of the National Assembly on the adjustment of administrative boundaries of Hanoi city and some related provinces … In parallel, the city will continue to innovate the growth model, restructure the capital’s economy based on the application of science, technology and innovation, achievements of the Fourth Industrial Revolution; improve the efficiency of management, exploitation, use and promotion of resources to promote development in order to meet the requirements of fast, efficient and sustainable development of the Capital. Hanoi will also continue to improve the investment and business environment, enhance competitiveness, improve economic management efficiency, and promote the Capital’s economy to develop rapidly, effectively and sustainably. Improve the quality and effectively use human resources associated with innovation, strong application and development of science and technology and continue to expand and improve the efficiency of foreign affairs and national integration. development cooperation, improving the prestige and position of the Capital. Comrade Chu Ngoc Anh stated that the implementation of Program No. 02-CTr / TU must be conducted synchronously, continuously, with high determination, great effort, with a specific, focused and focused roadmap. point, close to reality … The Chairman of the City People’s Committee also noted that Program No. 02-CTr / TU is relatively general in nature, the contents are related to many different branches and fields. Therefore, the system of targets and projects of the program will focus mainly on the goal of restructuring and promoting the rapid and sustainable development of the Capital’s economy. Besides, a great solution to effectively implement the program is to make a breakthrough in the development of infrastructure of the capital in the coming period such as the development of infrastructure of industrial zones, clusters, logistics infrastructure, … And especially with the two major and very new breakthroughs today, they are: “Development of new generation telecommunications infrastructure” and “Development of science and technology infrastructure and priority to develop the science market – technology is synchronous with capital markets, labor markets, and commodity markets ”. Comrade Chu Ngoc Anh emphasized that there should be solutions to concretize, arouse patriotism, national pride, love for Hanoi, will and aspirations to rise to really create the driving force. innovate, contribute to the capital’s increasingly rich, beautiful, civilized and modern development.

Produced | Sohu Think Tank

Edit | Yuan Changyou

Wu Xiaoqiu, vice chairman of the Academic Committee of Renmin University of China and dean of the China Capital Market Research Institute, said in a guest program of “National Wealth Lecture Hall” recently that an important sign of the success of capital market reform should be among the top 10 listed companies in China by market value. , There are at least 5 high-tech companies.

Wu Xiaoqiu said that the capital market focuses on growth. In the past, the capital market paid too much attention to traditional industries and confuses importance and growth. Therefore, one of the important signs of the success of the capital market reform is that among the top 10 listed companies in China by market value, there are at least five high-tech companies.

“At present, Moutai and financial companies rank relatively high. Although financial institutions are very important, they are the country’s important tools and towns, but in terms of industrial competitiveness, investor returns and asset growth, high-tech companies are more important. It is important.” He said that if the current policy guidance allows commercial banks to flow 400-500 billion yuan into high-tech companies from the profit of more than 1 trillion yuan, then the market value rankings of listed companies will undergo major changes in the future.

Wu Xiaoqiu said that without the intervention of new finance, the process from new technology to new industry will be very slow. To this end, we should fully realize the role of finance in promoting the transformation of new technologies into new industries. The role of finance is not only to provide loans for enterprises, but also to incubate the emergence of new enterprises and promote the transformation of new technologies to new industries. This is the deeper meaning of financial services to the real economy.

“Although traditional markets are easy to manage, they have weak functions, a single unit, and low efficiency. China’s financial development to the current prosperity is the result of persisting in reform and opening up, marketization, and the integration of technology and finance. We cannot Let it return to the era of traditional finance.”

Wu Xiaoqiu emphasized that China’s financial market competition is not yet sufficient. It is necessary to promote financial market competition through financial disintermediation reforms and technological reforms. At the same time, appropriate financial policies must be provided so that the high-tech real economy can obtain more profits.

He pointed out that the valuation of technology companies can reach 50-70 times, while the average value of the banking industry is about 5 times. The highest valuation of China Merchants Bank is only 10-12 times. “If profits can flow to high-tech companies, the value of China’s capital market will not only be 80 trillion, but may reach 120 trillion or more. This will help us reach the goal of a securitization rate of over 100%.”

[Sohu Think Tank: Gather the wisdom of scholars and entrepreneurs to get the pulse of economic trends. If you are interested in contributing or contacting on-site reports, interviews, and program cooperation matters, please send an email to zhikucaijing@sohu.com]

As it turns out, the act of killing a spider is not only a “bad omen” but also harms the home ecosystem. Even the cleanest houses have inhabited spiders. In the journal The Conversation, entomologist Matt Bertone and colleagues at North Carolina State University in the United States published a study of 50 homes in North Carolina and in each home they found spiders. According to Bertone, arachnids are important members of the inner human ecosystem. They are “omnivorous” predators and eat almost anything they catch: from a fly trapped in a window to a mosquito trying to suck human blood. Sometimes, the spiders eat their own kind. A house spider is watching for flies Many of the “victims” of spiders are potential vectors of disease. There is even a species of jumping spider in Africa that only likes to eat blood-sucking insects in the house. So when you kill a spider by hand, you accidentally “kill” a “soldier” to destroy the pathogen in your home. The indoor spiders are not the venomous monster spiders in Australia that we still see in newspapers. During his research, Bertone often found only common indoor spiders like Pholcidae * and the most harmless arthropods of the family Theridiidae **. Both of these spiders spread silk where they live. Spiders Pholcidae sometimes leave their webs to hunt and eat other spiders around. I don’t want to see this scene in my house at all, what about you guys? The truth is that most spiders are poisonous, but the venom of most of them is not strong enough to harm humans. The spider’s fangs are also often too weak to bite through the skin. Hollywood movies have sprinkled us in the head with spiders attacking us while we are off guard. However, in contrast to these movie “myths”, the spiders almost never crawl past a sleeping person. The act of snoring, puffing, or even ordinary human breathing is enough to scare away the vertebrates in the home. Furthermore, spiders are afraid of humans and always try to avoid us. We are far more dangerous to them than they are to us. Cases of spider bites are extremely rare. The scene is haunting for many people Although there are some highly toxic species like the Black Widow, they very rarely bite humans and even so, these bites rarely cause serious medical disorders. If you have phobia or simply don’t want to see spiders crawling around where you live, follow the scientists’ recommendations: instead of killing arthropods, catch them in one. box and drop off the road. The spiders themselves will find a new place and we do not have to carry the “killing” karma. *: Pholcidae are arachnids in the arachnid family of the suborder Araneomorphae. They have a body length of 2–10 mm and their legs can be up to 50 mm long. They can be found on every continent in the world except Antarctica. They weave a messy, irregular mesh. Spider webs are woven in wet and dark areas, in caves and under rocks, and abandoned animal caves. Do these spiders look familiar? Spider webs do not have cohesive properties, but their unusual insect trap structure makes it difficult for prey to escape. Spiders quickly cover their prey with spider webs and then inflict a poisonous bite to kill the prey. The prey can be eaten or stored immediately thereafter. **: Theridiidae is a family of arachnids of the order Araneae. This family has 109 genera, a total of 2295 species. The spider Theridiidae is usually reclusive, almost harmless and extremely gentle.

Produced | Sohu Technology

Author | Zhang Yating

Edit | Yang Jin

Huawei, which has always been prudent and prudent, has recently made intensive adjustments to its cloud business, which has aroused heated discussions from outsiders. On April 9, Huawei announced the appointment of Rotating Chairman Xu Zhijun as Chairman of Huawei Cloud, and Huawei Consumer BG CEO Yu Chengdong was appointed as Huawei Cloud CEO.

A week ago, on April 2, Huawei announced the abolition of Cloud&AI (cloud and computing) BG. On March 30, Huawei just appointed 11 members including Zhang Pingan (formerly President of Consumer Business Cloud Services) as Cloud&AI BG managers; Zhang Pingan was appointed as Cloud BU President.

At this point, the structural adjustment of the cloud business has come to an end in the turmoil. The latest Xu Zhijun + Yu Chengdong, the luxurious lineup of two generations of Huawei’s Titans, also made the speculation that “Huawei Cloud will develop independently or be sold” spread like wildfire. Some insiders bluntly said that “this is the management configuration of a listed company.”

At the Huawei Analyst Conference on April 12, Xu Zhijun gave a formal response to related hot topics. He pointed out that the abolition of cloud and computing BG is to focus on developing cloud business, increase the proportion of software service revenue, and reduce dependence on hardware.

As we all know, Huawei started by making communication equipment, and hardware revenue has always been the main driver. In recent years, the revenue of consumer business, which is dominated by mobile phones, has supported about 50% of its revenue. However, the blow of the ban made Huawei have to think about how to go on leaving the chip?

The cloud business is regarded by Huawei as a key “chess piece” for increasing software revenue.Guowei, the chief product official of Huawei Cloud, told Sohu Technology that this year’s cloud business is definitely still growing in three digits. On the one hand, Huawei attaches great importance to the cloud business, and customer demand is also great. According to official disclosures, Huawei Cloud will grow by 168% in 2020.

It should be noted that even if the cloud and computing BG has been withdrawn, the current cloud and computing entire sales and channel system remains consistent. Shi Jilin, President of Huawei Cloud and Computing Global Marketing and Sales Service Department, told media including Sohu Technology, “The future sales and channel system will be optimized and adjusted accordingly as business development needs.”

“The shortcoming that needs to be made up most is the user experience”

Compared with mainstream cloud vendors, Huawei Cloud is almost 10 years behind. Amazon AWS cloud computing service was commercialized in 2006, Alibaba Cloud was formally established in 2009, Tencent Cloud was commercialized in 13 years, and Huawei only established Cloud BU in 17 years and officially entered the public cloud.

“It is necessary to make up for shortcomings but also to find ways to surpass other manufacturers.”Fang Guowei told Sohu Technology that the biggest challenge for Huawei’s cloud business is that the business started relatively late..

He pointed out that it took Huawei almost four years to go through the product development process of other manufacturers for about ten years. “We started to do public cloud in 17 years and developed more than 200 products in almost four years. The number of products is about the same as that of other vendors.”

The speed of HUAWEI CLOUD’s development should not be underestimated. According to Canalys’ Q4 China Cloud Service Market Report last year, Alibaba Cloud occupies an absolute leading position with a 40% share, Huawei Cloud ranks second with a 17% market share, and Tencent ranks third with a 15% share.

Dai Mingzhe, an analyst at Head Leopard Research Institute, told Sohu Technology that because of its first-mover advantage, Alibaba Cloud has always maintained the first place in market share. However, HUAWEI CLOUD is catching up with its accumulation in the ICT field and the precipitation of the government and enterprise markets, and is constantly shortening the gap with the leading manufacturers in the market.

Of course, in the pursuit of rapid development, Huawei Cloud also needs to make up for its shortcomings. “We are a traditional hardware-advanced company. There are no examples in the world of transforming into a software-advanced company. Our difficulties are imaginable.” Ren Zhengfei realized that changing from selling products to selling cloud services requires building cloud services. The ability and support to provide customers with the operation, operation and maintenance capabilities of cloud services.

A business manager of a domestic leading cloud vendor told Sohu Technology that Huawei Cloud’s long-tail customers have relatively weak operating capabilities. “Customers who consume hundreds of thousands a month in the order of magnitude, either look at the brand or buy the cheap ones. Huawei Cloud is a bit embarrassed in the middle. And the stability and performance of its products still need to be polished.”

Fang Guowei also bluntly told Sohu Technology that the shortcoming that needs to be made up most is the user experience to make the product more usable. Previously, it was more to quickly complement the functions, but there is still a lack of user experience. This year, it will be promoted as a focus.

“For example, in terms of product design, interaction design will strive to be more user-friendly; in terms of documentation, I hope that customers will understand how to operate immediately after reading the documentation, because a very important point in the cloud is self service.”

Relieve the pain of lack of core

Undoubtedly, sending two generals, Xu Zhijun and Yu Chengdong, can see how much Huawei attaches importance to the cloud business. Of course, frequent architectural shocks can also reveal Huawei’s entanglement in exploring cloud services.

At the beginning of 2020, Cloud&AI (cloud and computing) rose to Huawei’s fourth largest BG, Hou Jinlong served as the president of Cloud and Computing BG, and Peng Zhongyang as the president of Enterprise BG.

In January of this year, Huawei internally issued a document stating that consumer business CEO Yu Chengdong will concurrently serve as the president of Cloud and Computing BG, and Hou Jinlong, former president of Cloud and Computing BG, intends to appoint the chairman of Digital Energy. At that time, a Huawei insider revealed to Sohu Technology that “the development progress of the cloud business is average, and the slogans are more powerful. I hope Mr. Yu’s leadership can change the current state.”

On April 2, Huawei adjusted its cloud business again, appointing Zhang Pingan as the president of Cloud BU, and at the same time withdrew the cloud and computing BG, and the original server and storage were classified as “network products and solutions.”

About a week later, Huawei Cloud ushered in new personnel appointments again. Rotating Chairman Xu Zhijun was appointed as Huawei Cloud Chairman, Yu Chengdong was appointed as Huawei Cloud CEO, and Cloud BU added two deputy directors, Peng Zhongyang and Tao Jingwen in charge of corporate business. And process IT.

From the establishment of Cloud and Computing BG to the dismantling of Cloud and Computing BG, Cloud BU has once again returned to an independent state. Xu Zhijun said to the relevant changes that Huawei Cloud has always been an end-to-end independent BU. At the beginning of the establishment of HUAWEI CLOUD, it was hoped to coordinate the operation of servers and storage with HUAWEI CLOUD, but the collaborative operation was found to consume the energy of the cloud team.

He pointed out that the adjustments made now are to hope that the cloud business will be more independent and focus on developing cloud. At the same time, in the long run, we hope to increase the proportion of software service revenue.

Under the influence of the US ban, Huawei is also actively thinking about future business development issues. How does the future go? Xu Zhijun put forward five key strategic measures in the future, and the first one is to optimize the industrial mix and enhance the resilience of the industry, especially the enhancement of software capabilities, the strengthening of investment in advanced technology and weak-related industries and the investment in the smart auto parts industry.

Dai Mingzhe told Sohu Technology that under the ban, the chip industry chain will have a certain impact. However, Huawei’s cloud business will focus on software development in the future, and it is expected that this impact will be mitigated to a certain extent.

Can the cloud business become the next “cash cow”?

The cloud market still has development potential. Gartner data shows that as of 2019, the global cloud computing market reached US$188.3 billion, and it is expected that the market size will reach US$350 billion in 2023. According to the “2020 Cloud Computing Development White Paper” issued by the Institute of Information and Communications Technology, China’s cloud computing market is expected to continue to grow rapidly in the next four years.

At the same time, the cloud business has brought huge returns to the top manufacturers. According to the 2020 earnings report, AWS cloud services contributed 11.7% of revenue and 59% of profits for Amazon. According to Microsoft’s financial report, since the Q3 quarter of fiscal year 2020, revenue from the smart cloud business has become Microsoft’s largest source of revenue for three consecutive quarters.

Of course, before the cloud business brought huge returns, it was also a terrible “golden beast”. Only after a huge investment can manufacturers “lie down and make money.” From the official commercial use of Amazon AWS in 2006 to 2015, it took nearly 10 years to turn around. year. Alibaba Cloud was founded in 2009, but it achieved breakeven for the first time in the fourth quarter of 2020, and it took about 11 years from a huge loss to a balance.

Gu Fan, general manager of cloud service product management for AWS Greater China, once said that it took nearly 10 years for AWS to achieve its first $10 billion in revenue from scratch, and it took 23 months for the second $10 billion increase. The third $10 billion increase took 13 months.

Huawei hopes to avoid excessive capital investment and emphasizes the construction of application ecology. Ren Zhengfei pointed out in his internal letter at the end of last year, “We can’t simply take the same path as Ali and Amazon. We don’t have that much money. They have endless amounts of money in the US stock market. How do we develop, we must find a way out. , Rather than simply imitating.”

In China, BAT Internet vendors, three major operators, Huawei Cloud, Kingsoft Cloud and other vendors gathered in the cloud computing track. A cloud computing-related practitioner told Sohu Technology that compared with other vendors, Huawei’s advantages lie in sales capabilities, key customer relationships, hardware coordination capabilities, and a top-to-bottom ecosystem.

Through the growth process of Amazon and Alibaba, we can see that cloud is not a “quick money” business. From its exposure to cloud computing in 2011, to its formal entry into the public cloud in 2017, and to the further improvement of its strategic position today, Huawei has not disclosed the revenue of its cloud business to the public.

It is foreseeable that Huawei Cloud still has a long way to go in the process of increasing software revenue and optimizing the industry mix.

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.

The “May Day” holiday is approaching, do you have any travel plans? Where are you going? According to data from a travel ticketing platform, it is expected that the “May Day” outing may reach 200 million people. As of April 14, orders for air tickets, hotels, tickets, and car rentals during the “May 1st” period have all achieved positive growth compared to the same period in 2019.

△ Hangzhou West Lake

Over 70% of tourists choose to travel across provinces

Car rental self-driving increased by 126% over the same period in 2019

Data shows that over 70% of the people during the “May Day” holiday choose to travel across provinces.

In terms of travel destinations, Shanghai, Beijing, Sanya, Guangzhou, Chengdu, Chongqing, Xi’an, Xiamen, Hangzhou, and Shenzhen rank among the top ten travel destinations. From the perspective of the growth of air ticket orders, Yangzhou, Zhoushan, Beihai, Dunhuang, Enshi, Haikou, and Sanya may become the “dark horse” of this year’s “May 1st” holiday destination.

In terms of car rental and self-driving, data show that current bookings for May 1st car rentals have increased by 126% compared to the same period in 2019, and nearly 90% of them are inter-provincial demand. Sanya, Chengdu, and Haikou rank among the top three popular destinations.

In terms of air ticket prices, data shows that at present, some flights in more than 51 places in economy class have been sold out. The number of ticket orders has surpassed the level of the same period in 2019, an increase of 23%. The average fare of May 1st ticket in economy class was 1021 yuan, exceeding the average price of the same period in 2019. As of mid-April, air tickets to many popular destinations in China have basically risen to full prices.

△Kuanzhai Alley in Chengdu

In terms of travel themes, theme parks, zoos and botanical gardens, museums, exhibition halls, and architecture and humanities are the most popular types of scenic spots during the May 1st holiday. Data shows that Shanghai Disney Resort, Qin Shihuang Mausoleum Museum (Terracotta Warriors and Horses), Chengdu Research Base of Giant Panda Breeding, Zhangjiajie National Forest Park, etc. are among the top ten popular scenic spots in the “May Day”.

△Hengdian Film and Television City, Zhejiang

Relaxation of restrictions on scenic spots

“Hotel Tourism” continues to lead the new fashion

As the epidemic prevention and control continues to improve, Shanghai, Sichuan, Zhengzhou, Henan and other places have cancelled flow restriction measures in scenic spots.

Data show that as of April 14, the number of people booking tickets for scenic spots has increased by 114% compared to 2019. The ticket booking cycle of scenic spots is relatively short, and it is expected that in the next one or two weeks, ticket bookings will usher in a period of explosive growth.

In addition, thanks to a wealth of theme activities and cultural experiences, hotels continue to be popular destinations for tourists. The data shows that Atlantis Sanya, Moganshan Kaiyuan Senbo Holiday Park, and Huzhou Longemont Animal World Hotel are among the top ten popular hotels on May 1st.

Staggered travel is more cost-effective

The reporter learned that if tourists travel on a staggered peak before the holiday, the travel experience and cost performance will be higher, and the price of some routes before the holiday is even half of the May Day holiday.

According to the current booking situation, the most popular destinations for domestic travel before the holiday are Hainan, Yunnan, Beijing, Hunan, Guizhou, Ningxia, Hubei, Guangxi, Jiangsu, Chongqing, Gansu, Fujian, Xinjiang, Shanxi, Shaanxi, etc. , Red tourism, flower viewing, scenic spots and other theme routes are the most popular with tourists.

In terms of travel prices, if you want to choose a domestic long-term tour, such as a 4-6 day popular route, the price for departure before the holiday is much cheaper than the May Day holiday.

△Zhejiang Zhoushan

This “May Day” holiday

do you have any plans?

Source: Comprehensive from CCTV News (ID: cctvnewscenter), Zhejiang Daily reporter Lu Yao

[责任编辑: ]

TOP 10 models of the hottest car in March

The most surprising is that the model, the Suzuki Swift, is at No. 3 on the list of cars sold at least in March, with a number of only 3 units. At the time of February, this model was at the 7th position on the list of slow-selling cars with sales of 11 units.

Suzuki Swift has been in the ranking for the first time since the beginning of this year, the fact that there are no major changes in design and high price in the segment makes this model “drop” in comparison with competitors in the same segment. .

Toyota is a big brand in the Vietnamese auto industry and perhaps because of that, the Japanese automaker often contributes its products in both the best-selling and the worst-selling car groups. 3 positions, respectively, belonged to 3 representatives from the Japanese automaker, Toyota Hiace, with 3 cars sold; Toyota Avanza with 6 cars and Toyota Alphard with 10 cars. All three models seem to be too familiar in the monthly slow sales chart.

Two new positions appearing in the ranking this month from the Korean automaker are the KIA Optima sedan with 41 cars and the 7-seater KIA Rondo model with 51 vehicles delivered to customers.

Ford had a lot of growth in sales in March. However, the automaker still has a name that exists on the list of slow-selling cars and that is the Ford Tourneo model.

By 2021, the total number of personal computers (laptops and desktops), tablets and smartphones will reach 6.2 billion units globally, according to the latest forecast from research firm Gartner. .

According to the report, the number of laptops and tablets in use by 2021 will increase by 125 million units compared to 2020. By 2022, the number of these devices globally will reach 6.4 billion units, an increase 3.2% compared to 2021. Gartner believes that the number of laptops and tablets will increase by 8.8% and 11.7% by 2021, respectively. will decrease from 522 million units in 2020 to 470 million units by 2022.

Although the number of smartphones will decrease by 2.6% by 2020, it will increase by 1% by 2021. Ranjit Atwal, Gartner Senior Research Director, said: “The pandemic has permanently changed the way the device is used. employee and consumer Family education has shifted to digital education, interactive games to cloud computing… The variety and number of devices will continue to increase ”.

Gartner also predicts a 32% increase in PCs in Q1 2021, to 69.9 million units over the same period last year. This is the fastest growth rate in 21 years. During a pandemic, people need computers to work from home or study online. Shipments in Q1 this year remained the highest since 2015 of 71.7 million units.

Lenovo is still the largest PC maker in the world, with 25.1% market share, up from 23.3% a year ago. HP and Dell ranked second and third with market shares of 21.4% and 16.5%, respectively. Apple, Acer and Asus ranked fourth through sixth.

According to Gizchina