分类： cc

The price of high-quality development

The most striking feature of current economic operation is that the speed of supply repair is obviously slower than that of demand improvement, and supply constraints have a negative impact on price stability and demand release. However, some of the supply constraints are aimed at reducing pollution, reducing debt and optimizing economic structure, which is the price that must be paid actively for high-quality development; The other part of the supply constraint is caused by the impact of global commodity production and industrial chain supply chain, which is also an acceptable reality for high-quality development. Looking forward to 2022, the expansion rate of total demand will further slow down, but the supply-side constraints may persist, and the "rebalancing" of the supply-demand gap still faces multiple obstacles.

1. Domestic economic forecast and suggestions on asset allocation

Judging from the actual economic situation, the economic situation in 2022 will be weaker than that in 2021.According to the follow-up, the improvement of consumption is limited, the bottoming role of real estate investment declines, the pulling role of exports weakens, the traditional infrastructure investment continues to fluctuate at a low level, and the rebound of manufacturing investment and new infrastructure is also difficult to support the total demand. Therefore, in 2022, the domestic economy will return to the long-term growth center.

We forecast the GDP growth rate of each quarter and the whole year in 2022 through the ring-on-ring growth rate under different assumptions.Under the neutral hypothesis, the year-on-year growth rate of GDP in the first four quarters of 2022 was 2.9%, 3.2%, 6.1% and 5.2%, and the annual GDP increased by 4.4%. The annual GDP increased by 3.5% under pessimistic circumstances and by 4.8% under optimistic circumstances. In all cases, the third quarter is the year-on-year economic high, but the base fluctuation caused by the COVID-19 epidemic will continue to affect the year-on-year trend of economic indicators in 2022. The year-on-year growth rate in the second half of the year is faster than that in the first half of the year.

How to accurately measure the trend of the year-on-year data of the real economy next year is a key issue to guide market investment.However, the two-year average growth is no longer applicable in 2022, because the two-year average growth is also affected by the base. According to the neutral scenario of GDP growth rate in 2022, the average growth rate in the first four quarters is 10.3%, 5.5%, 5.5% and 4.5% respectively, and the trend is exactly the same as that in 2021, which is of little significance for investment guidance. So, what indicators can be used to describe the economic rhythm in 2022 more accurately?

Starting from the idea of cross-cycle adjustment, we can consider the average growth for three years.Our estimated results for the first four quarters of 2022 are 4.3%, 4.7%, 5.3% and 5.2%, which is consistent with the year-on-year rhythm of this quarter, but at least to some extent reduces the impact of the high base in the first half of 2021. Moreover, the annual economic growth rate under the three-year average is 4.9%, which is closer to the average level of China’s potential growth rate during the 14 th Five-Year Plan period calculated by the People’s Bank of China.

Judging from the economic rhythm depicted by the three-year average growth, the domestic economy was in recession in the first and fourth quarters of 2022 (corresponding to the decline in corporate profits). At this time, the performance of bonds was relatively better than that of equity assets, and the allocation of large-scale assets should be defensive. In the second and third quarters, the domestic economy stabilized and rebounded, and the allocation of large-scale assets should shift to equity assets.

2. Industry is facing the dual impacts of supply constraints and declining demand.

In 2022, global commodity production was limited and the manufacturing supply chain was unstable; The domestic "peak carbon dioxide emissions" goal continues to affect domestic industrial production. Judging from the situation in 2021, even if the export industry and high-tech manufacturing industry maintain rapid growth, it is difficult to resist the economic downturn after the heavy chemical industry production is hit. What’s more, it is difficult for the export industry to repeat the high growth in 2021 in 2022. Therefore, it is expected that the industrial growth rate in 2022 will drop significantly compared with that in 2021.

First, the global crude oil production capacity is still limited.Although the current Brent crude oil price has exceeded $80/barrel, OPEC+ countries have no intention of further increasing production. According to EIA estimation, the idle capacity of OPEC countries is as high as 6.72 million barrels per day, which is significantly higher than the pre-epidemic level.

Second, long before the COVID-19 outbreak, the global copper production and capacity had dropped significantly.Among them, the global copper production increased by zero in 2019, only by 0.3% in 2020, and the copper production capacity increased by only 0.3% in 2018 and 0.5% in 2019. Since 2021, the average monthly output of global copper mines has reached 1.729 million tons, which is the highest level in recent years, but the average monthly capacity utilization rate has reached 80.6%, which is less than 5 percentage points from the highest level after the financial crisis. The investment cycle of copper mine is long, which means that the space for monthly expansion of copper mine production in the next few years is less than 10,000 tons.

Third, 2021 is the first year of "peak carbon dioxide emissions" goal. The implementation of "sports" policies in some areas has excessively affected the production of some high-energy-consuming industries, caused product shortages and sharp price increases in some areas, and also aggravated the nationwide power cut.At present, the capacity utilization rate of high energy-consuming enterprises has dropped significantly. The capacity utilization rate of coking enterprises has dropped to 71.7%, equivalent to the level in February 2020. The capacity utilization rate of electrolytic aluminum has dropped from 94% at the beginning of the year to around 90%. The national blast furnace operating rate has fallen to 53.2%, which has fallen to the recent historical level. Judging from the added value of different industries, the added value of non-metallic mineral products and steel industry has fallen into a negative growth state year-on-year, and the output of steel, cement and other industries has generally fallen into negative growth. Although the non-ferrous metal industry is supported by the production of new energy metals, the added value of the industry has also fallen to the lowest level since November 2017.

In addition, the instability of the global industrial chain supply chain has also had a significant impact on the production of automobile and other manufacturing industries.In June 2021, after the Malaysian manufacturing PMI fell below the critical value due to the impact of the epidemic, the added value of China’s automobile industry also entered a negative growth state. At present, there are more than 6,000 new cases in Malaysia every day. It will take some time for the supply of automobile chips to fully recover, and the production of domestic automobile industry will still be affected by the lack of chips.

3. The investment structure is further differentiated.

In recent years, investment demand has shown obvious structural differentiation characteristics, including the differentiation of old and new infrastructure investment, the differentiation of high-tech industries and traditional industries. We expect that the investment structure will be further differentiated in 2022 under the background of major changes in the medium and long-term development direction, such as the adjustment and upgrading of the real estate industry, the continuous promotion of peak carbon dioxide emissions and the accelerated pace of common prosperity.

(1) The deterioration of incremental indicators impacts the stability of stock indicators, and the demand for real estate investment shrinks.

In October, 2021, the regulator released the signal to ensure the normal financing demand of real estate, and then the National People’s Congress Standing Committee (NPCSC) authorized the State Council to conduct a real estate tax pilot. The market thought that the possibility of stricter real estate regulation and control policies was obviously reduced, but the impact of previous regulation and control on the real estate market was far from over.

In the first half of 2021, the real estate market benefited from the countercyclical adjustment policy after the epidemic, and the main data related to real estate investment still maintained rapid growth. But in the second half of the year, we observed the rapid deterioration of real estate market data. Since July, the two-year average growth rate of housing construction area and newly started area in the same month has continued to grow negatively, while the two-year average growth rate of commercial housing sales area in the same month has started to grow negatively since August, and the two-year average growth rate of completed housing area and commercial housing sales in the same month has also fallen into a negative growth state in September. The growth rate of the constituent indicators of the completed real estate investment has also slowed down significantly recently. In September, the two-year average growth rate of Jian ‘an project dropped to 5.4% year-on-year, which was 7.4 percentage points slower than that in June. The two-year average growth rate of land acquisition fees in September was negative again, which directly led to the slowdown of the two-year average growth rate of real estate investment in September to 4.0%, which is the lowest level so far this year.

Looking forward to 2022, the main problem of real estate investment lies in the acceleration of housing completion and the serious deterioration of land acquisition data, which may further worsen the newly started area of obvious houses. With the continuous compensation of construction debts, the stabilizing effect of stock data on the growth rate of real estate investment will become increasingly weak.In the first three quarters of 2021, the land acquisition area decreased by 8.5% year-on-year, with an average increase of 5.7% in two years. In fact, since 2019, the land acquisition area has stabilized in a negative growth state. The negative growth of land acquisition area will be translated into the continuous negative growth of newly started housing area in 2022. The continuous negative growth of new construction area and the obvious impact of completion rhythm have been reflected in the housing construction area in 2021. Since 2021, the two-year average growth rate of newly started area-completed area has continued to grow negatively, which means that real estate developers are accelerating the destocking of construction inventory this year. However, this kind of decontamination is unhealthy and unsustainable, and the deterioration of flow data eventually translates into the deterioration of stock data. In September, the two-year average growth rate of new housing construction has dropped to negative growth.

Therefore, for the real estate investment in 2022, on the one hand, the newly started area of houses is likely to maintain a negative growth state, and the support of traffic data for real estate investment continues to decline. On the other hand, with the accelerated completion of real estate, the support of housing construction debts for real estate investment is also declining. The demand for real estate investment will inevitably shrink, and the growth rate of real estate investment will inevitably decline.

(2) The investment in new and old infrastructure is as hot as ice.

It is estimated that the growth rate of traditional infrastructure investment will remain below 5% in 2022.At present, traditional infrastructure is facing multiple constraints. First, the financial resources of local governments are constrained by preventing risks and declining land revenue; second, factors such as the impact of project quality affect the issuance of special bonds; third, the constraints of peak carbon dioxide emissions’s objectives on traditional infrastructure projects are strengthened; fourth, the demand of cross-cycle adjustment policy framework for smoothing short-term fluctuations is reduced, and the dependence of steady growth policy means on stimulating investment is reduced. Some of these constraints existed before the epidemic, and some were obviously reflected after the epidemic, but in any case, the final result was that the traditional infrastructure investment has been hovering at a low level in the past few years. At present, the two-year average growth rate of infrastructure investment is only 0.4%, of which the two-year average growth rate of investment in water conservancy, environment and public facilities management has been negative for three consecutive months.

There are two directions in the new infrastructure, both of which are key areas for development at present. First, a new generation of scientific and technological revolution.This is embodied in two indicators: First, investment in information transmission, software and information technology services, with an average growth rate of only 4.0% in the current two years, which is not far from the overall investment, but it is expected that the end of 2021 to the beginning of 2022 will be the key areas for the formation of physical workload.Second, investment in high-tech industries, with an average growth rate of 11.0% in the first two years of 2021, and accelerated to 13.8% in the first three quarters, of which the average growth rate of investment in high-tech manufacturing industries accelerated from 10.7% to 17.1%. Second, investment in social fields related to common prosperity, especially in health and education.In the first three quarters of 2021, investment in social fields increased by an average of 10.5% in two years, 1.7 percentage points faster than at the beginning of the year. Among them, the two-year average growth rate of health investment is 25.7%, and the two-year average growth rate of education investment is 11.5%, both of which are faster than the level at the beginning of the year, and are also greatly related to the overall investment growth rate.

(3) There is a high possibility that manufacturing investment will continue to pick up.

The driving force for manufacturing investment to continue to pick up is mainly reflected in two aspects: First, the growth rate of investment in high-tech manufacturing and strategic emerging industries continues to grow rapidly under the requirements of the new generation of scientific and technological revolution and scientific and technological self-reliance.Since 2015, the investment growth of high-tech manufacturing industry has been sustained and significantly ahead of the manufacturing industry as a whole, and the proportion of high-tech manufacturing investment in all manufacturing investment should also continue to increase, and its influence on the overall manufacturing investment is also increasing day by day. Furthermore, under the goal of peak carbon dioxide emissions, the investment scale of heavy chemical industry is strictly controlled, and the investment structure of manufacturing industry will further change. The prices of resource products have risen sharply in the past year or so, but this year, the investment growth rate of high-tech manufacturing industry is still ahead of energy-consuming industries such as steel, nonferrous metals and non-metallic mineral products.

Another driving force for manufacturing investment to continue to pick up comes from the export industry.Although the global economic growth rate has slowed down in 2022, the weak dollar, the spillover of consumer demand and the rising possibility of easing Sino-US economic and trade relations are still conducive to China’s export situation being better than before the epidemic. At present, the capacity utilization rate of China’s export industry excluding automobile manufacturing industry is 80.4%, which has remained above 80% for four consecutive quarters, which is also 3.1 percentage points higher than the overall capacity utilization rate of manufacturing industry in the same period. Since the beginning of this year, the two-year average growth rate of investment in export industry has continued to improve, with the growth rate of -2.8% in the first two months and accelerated to 6.8% in September. Due to the high proportion of investment in export industry in manufacturing industry, the two-year average growth rate of manufacturing investment accelerated from -3.0% to 3.6% in the same period.

We expect that the two logics that manufacturing investment will continue to pick up in 2022 are still valid, and from the credit supply structure since this year, the proportion of medium and long-term loans in manufacturing industry has improved significantly. With the support of funds, policies and the relationship between supply and demand, manufacturing investment will continue the current improvement trend.

4. The improvement direction of consumption is determined, but the degree is uncertain.

In August, 2021, affected by many short-term factors, the social zero month fell to 2.5% year-on-year. In the future, the growth rate of social zero will re-enter the recovery range. However, due to the high uncertainty of income, epidemic situation and other factors, there is also a high uncertainty of the improvement degree of social zero in 2022. The main influencing factors include the following:

First, after the improvement of real estate credit environment, the recovery of commercial housing sales will drive the improvement of commodity consumption in the post-real estate cycle.Since 2021, the sales of furniture, home appliances and other real estate products have continued to grow negatively, which is one of the main factors that drag down the current zero growth rate. Measured by the average growth in two years, the retail sales of furniture has been negative for seven consecutive years, and it is currently -8.0% year-on-year. The retail sales of home appliances also showed a sluggish performance, with an average monthly growth rate of only 0.6% from March to September, and the retail sales of building and decoration goods continued to grow negatively since July. In the future, with the increase in the amount of mortgage loans, the sales of commercial housing are expected to improve marginally, and related commodities are expected to get out of the continuous downturn.

Second, the improvement trend of the employment situation remains unchanged, and the decline in consumption of necessities is only a short-term disturbance.Previously, the unexpected decline in social zero growth rate was closely related to the consumption of necessities. The shrinking demand for necessities comes from the deterioration of employment and income expectations caused by the upgrading of industry governance. However, the latest employment data shows that the anti-seasonal rebound of unemployment rate in mid-2021 may only be a short-term fluctuation. In Q3 of 2021, although the economic situation is not as expected, the urban survey unemployment rate has dropped below 5.0% for the first time since 2019, and the target of newly employed population in cities and towns is nearing completion. The survey unemployment rate of key populations has continued to decline, and the number of migrant workers in rural areas is close to the highest level before the epidemic. Under the framework of cross-cycle adjustment, ensuring employment, people’s livelihood and market players is the primary goal of macro-policy.

Third, the improvement of exports will increase the average wage level of employed people.Historical data shows that China’s export growth rate will be ahead of the average wage growth rate. From 2002 to 2008, exports continued to achieve a high growth rate of more than 20%, and the average wage growth rate of employed people also rose steadily from about 10% in 2002 to more than 18% in 2007. During the "4 trillion" period, China’s export growth rate rose to over 30% in the second half of 2010. The wage growth rate also returned to 16% in the second half of 2011. After 2012, China’s export growth rate gradually slowed down, with negative growth for two consecutive years from 2015 to 2016, and the wage growth rate also fell to around 9% at the end of 2016. After the outbreak of trade friction between China and the United States, exports approached zero growth in 2019, and the wage growth rate in that year further dropped to 8.7%. We predict that the export growth rate will be close to 30% in 2021, which is significantly higher than that in 2020, which means that the average wage of employed people will also be significantly improved, thus promoting the income growth rate of related industries to rebound.

On the other hand, the consumption situation in 2022 also faces the following negative impacts:

First, the epidemic situation is still an unavoidable problem, which is mainly reflected in catering revenue and automobile retail sales.The former is due to the obvious impact of epidemic prevention and control measures on contact services, while the latter is due to the impact of epidemic on the stability of global supply chain and industrial chain. In recent months, the industrial added value of the automobile manufacturing industry has continued to grow negatively and the decline has been expanding, which has suppressed the demand for automobile consumption on the supply side. According to the data of household survey consumption expenditure, in the first three quarters of 2021, the per capita service consumption expenditure of national residents was 7,781 yuan, up 23.4% year-on-year, and the growth rate was 7.6 percentage points higher than the per capita consumption expenditure. But overall, the recovery degree of service consumption is lower than other consumption. The average service consumption expenditure of the national residents increased by 4.5% in two years, which was 1.2 percentage points lower than that of the residents. The proportion of service consumption expenditure in household consumption expenditure rose by 2.7 percentage points compared with the same period of last year, and it has not yet recovered to the same level in 2019. If the epidemic situation is still not effectively controlled, service consumption and automobile consumption will remain the uncertain factors of the consumption situation in 2022.

Second, income differentiation intensified after the epidemic.Since the first quarter of 2021, the average growth rate of per capita disposable income has been faster than the median growth rate, and the growth rate difference has been widening — — On a quarter-on-quarter basis, the average growth rate in the first and second quarters was 1 percentage point faster than the median growth rate, and the difference in growth rate in the third quarter widened to 2.4 percentage points. Measured by the two-year average growth, the average growth rate in the third quarter was 1.6 percentage points faster than the median growth rate, while the difference in the first quarter was 1.2 percentage points. From the structural point of view, the growth rate of property income is the highest in all kinds of income, while the marginal consumption tendency of people who hold more assets or wealth is low. If the problem of income differentiation cannot be alleviated, the consumption situation will be affected in 2022.

Third, the impact of industry governance is far from over.From the perspective of the average wage level of the industry, the average wage level of the Internet and the financial industry ranked the top two in all industries in 2020. From the perspective of the average wage growth rate, the growth rate of the Internet industry ranked second in 2020, and the average wage level of the agriculture, forestry, animal husbandry and fishery industry ranked first was less than 90,000 yuan, less than 33% of the Internet industry and less than 50% of the financial industry. Any policy has both benefits and costs. Judging from the situation in the third quarter of 2021, although industry governance is helpful to solve the medium and long-term problems of China’s economic development, it will indeed reduce residents’ willingness to consume in the short term and improve the precautionary saving motivation. The People’s Bank of China’s savings questionnaire shows that the proportion of depositors who are willing to spend more in the third quarter of 2021 decreased by 1 percentage point against the seasonal trend, and increased by 0.37 percentage point in the same period in history. From August to September, the new deposits of households reached 2.4 trillion yuan, the highest level in history.

5. The export growth rate has dropped quarter by quarter, and it may still be positive for the whole year.

Export forecast:In 2022, although the manufacturing PMI of developed economies may fall back, it is likely to remain in the boom zone, so the demand for restocking and the import of intermediate products will still have some support. However, the immunization progress in emerging economies is relatively backward, and China will still undertake some return orders. Therefore, the annual export growth rate will remain positive. However, due to the base factor, the year-on-year growth rate of the four quarters will weaken quarter by quarter. Therefore, it is predicted that the export growth rate in 2021Q4 will be 18.2%, with an average growth rate of 17.9% in two years. The year-on-year growth rates of exports from Q1 to Q4 in 2022Q1 were 12.1%, 4.2%, -0.7% and -0.7% respectively, and the annual growth rate was 3.2%.

Import forecast:Although the domestic economy is in marginal decline, policies such as special bond issuance and real estate credit have been marginally adjusted, and there is little risk of further economic stall. At the same time, global orders have returned, and domestic processing trade is running smoothly. In terms of commodities, since the gap between supply and demand is difficult to solve in a short time, China will further implement the measures of "ensuring supply and stabilizing prices" to support the import of related commodities. Therefore, it is predicted that the import growth rate in 2021Q4 will be 24.5%, with an average growth rate of 14.7% in two years. From Q1 to Q4 in 2022, the import growth rate was 16.8%, 8.4%, 6.0% and 4.5% respectively, and the annual growth rate was 8.6%.

(1) Exports: Developed economies maintain prosperity, and orders from emerging economies return.

First, although the PMI index of developed economies has declined marginally, it can still maintain the boom zone in 2022.From 2021Q4 to 2022, the developed economies will gradually enter a new stage of "coexistence with the epidemic", the global economy will still maintain a stable recovery stage, the productive demand will remain relatively stable, and the import of intermediate products will maintain a relatively high growth rate. Among them, the United States started the replenishment cycle from 2021Q1, and it is still in the second half of the replenishment cycle, and there is still room for replenishment of machinery, electronics, electrical equipment and transportation equipment.

Second, the immunization progress in emerging economies is relatively lagging behind, and China will still undertake some return orders.At present, the global vaccine distribution is extremely uneven, and the vaccination rate gap between developed economies and emerging economies is obvious. Britain, Europe and the United States are relatively high, while Southeast Asia, South Asia and Africa, which rely on imported vaccines, are seriously low. Taking Viet Nam as an example, measures such as blocking factories and restricting the flow of people during the epidemic period triggered the return of orders or production lines to China. The data also shows that since the second half of this year, the export growth rate of India, Mexico, Vietnam and other countries has continued to decline, while China’s exports have maintained a relatively high growth rate.

(2) Import: Processing trade kept smooth, and energy and raw materials grew rapidly.

Since the second half of 2021, the domestic prosperity has declined, and the year-on-year growth rate of exports has dropped marginally. However, the growth rate of imports in the next stage still has a supporting force. It is predicted that although imports will decline year-on-year, the annual growth rate will still be 8%, slightly higher than the nominal GDP growth rate.

First, the processing trade remained smooth.The impact of the epidemic on industrial production has been significantly reduced. First, prevention and control measures have greatly reduced the probability of industrial practitioners contacting infected people; Second, practitioners in key units are more likely to get vaccination; Third, the detection efficiency is improved, and infected people are isolated and treated in time. Under this circumstance, the global processing trade will remain relatively smooth, which will also promote China’s imports. The data shows that the year-on-year growth rate of feed processing trade in September has risen to 17.3%.

Second, the import volume of energy, raw materials, chips and agricultural products will continue to grow at a high speed, and their prices will remain relatively high.The above categories are the main imported commodities in China. First of all, in terms of energy, it is difficult to change the situation that crude oil is highly dependent on imports in the short term. In terms of coal, it is necessary to ensure power and heat, give consideration to peak carbon dioxide emissions, and increase imports. Secondly, in industries with high energy consumption such as steel, electrolytic aluminum, cement, flat glass, oil refining, ethylene, synthetic ammonia and calcium carbide, reducing exports, increasing imports or transferring production capacity will help reduce carbon emissions. Thirdly, although the import of chips and agricultural products is affected by Sino-US relations, the actual demand is strong. Finally, since the outbreak of the new crown, there has actually been a global gap between supply and demand for the above-mentioned commodities, so the prices have continued to rise, which has also pushed up the growth of import value.

Macro team of investment promotion: Xie Yaxuan, Luo Yunfeng, Zhang Yiping, Liu Yaxin, Gao Ming and Zhang Qiuyu.

　　On August 25th, China Petroleum held a press conference to announce the information of a major strategic breakthrough in the exploration of Gulong shale oil in Daqing Oilfield.

　　According to reports, Daqing Oilfield has deployed key exploration wells such as Guye Youping 1, Yingye 1H and Guye 2HC.Get more than 30 cubic meters of daily oil, high yield and stable trial production.Among them, Well Guye Youping-1 produced more than 500 days of oil breakthrough, accumulated more than 6,000 tons of crude oil, and accumulated nearly 10,000 tons of oil and gas equivalent, achieving a major strategic breakthrough in continental shale oil in Songliao Basin. On the plane, 43 vertical wells have produced oil, and 5 horizontal wells have achieved high production.In 2021, the oil-bearing area will be 1,413 square kilometers.The predicted geological reserves of new oil are 1.268 billion tons.Daqing Gulong shale oil will become an important strategic resource for the construction of Daqing oilfield in the past 100 years, which is of milestone significance to the sustainable development of Daqing oilfield.

　　Daqing Oilfield has been explored and developed for more than 60 years. Faced with the severe challenge of unbalanced storage and production and difficulty in stable production, Daqing petroleum people innovated unconventional exploration ideas, marched into the shale oil of Qingshankou Formation in Yuannei, strengthened the study of shale oil enrichment law and evaluation of enrichment layer, and tackled the problem of fracturing horizontal wells to increase production, and achieved great innovation in shale oil in-situ accumulation theory, major breakthrough in key engineering technology and great achievements in exploration practice.

　　Four breakthroughs have been made in theoretical understanding:

　　It is found that Gulong shale has a fracture-pore reservoir system controlled by foliation, which breaks through the traditional understanding of poor physical properties of shale reservoirs. It is found that the high clay shale has good oil-bearing property, which breaks through the traditional understanding that shale oil mainly exists in sandy and carbonate interlayers. It is found that the oil generation window of Gulong shale is wide, and it can still generate hydrocarbon mainly in liquid state at high maturity stage, which breaks through the traditional understanding that gas is the main source of Ro greater than 1.3%. The "extinction line" of water-sensitive mineral montmorillonite was discovered, which broke through the traditional understanding of poor compressibility of high clay shale. These breakthrough understandings have realized the leap from "oil generation" of continental shale to "oil production" of continental shale, and the leap from migration and accumulation of classical petroleum geology to in-situ accumulation of high organic shale.

　　Significant progress has been made in key engineering technologies:

　　Matching the template of drilling speed-up technology, the length of horizontal section is increased from 1500m to 2500m, and the drilling cycle is shortened from 113 days to 18.8 days. The main fracturing technology of "reverse mixing, current-limiting perforation and compound production increase" with Daqing characteristics was formed, and the compound production increase technology was innovatively developed. It took 33 days to complete the fracturing of 381 sections of 12 horizontal wells, and the factory construction capacity and construction scale were improved. The daily number of fracturing sections was increased from 3.5 to 8.2, and the fracturing construction time was increased by 50%.

　　By exploring production systems such as controlled pressure blowout and early pumping, oil production in wells such as Guye Youping 1 and Songye You1hf has been running smoothly for more than a year, which fully shows that Daqing Gulong shale oil has good stable production capacity. At the same time, we should objectively realize that the exploration and development of continental shale oil, as an unconventional resource type, is still facing a series of new challenges in theory, technology, cost and benefit, and it is necessary to further strengthen scientific and technological research and management innovation to realize the effective development of Daqing shale oil.

　　It is reported that Daqing Oilfield regards Gulong shale oil as an important strategic field and is making every effort to accelerate all work. In 2021, 100 wells will be implemented, 58 wells have been drilled, 27 wells have been tested, 25 wells have seen oil, and 17 wells have obtained industrial oil gas flow. The "14th Five-Year Plan" will increase the proven geological reserves of oil by 1 billion tons, and the annual output of shale oil will reach more than 1 million tons. (Headquarters reporter Guo Xiaoguang Liang Dong)

Recently, China National Intellectual Property Administration released the Patent Investigation Report of China in 2023 (hereinafter referred to as the Report). According to the survey data, at this stage, the effect of patent transformation in China has increased steadily, the cooperation and innovation in Industry-University-Research has achieved remarkable results, and the level of intellectual property protection has been continuously improved.

First, the industrialization rate of invention patents in China has been further improved. In 2023, the industrialization rate of invention patents in China was 39.6%, an increase of 2.9 percentage points over the previous year and a steady increase for five consecutive years. As the main body of innovation, the industrialization rate of invention patents of Chinese enterprises was 51.3%, up by 3.2 percentage points over the previous year. From the scale of enterprises, the industrialization rates of invention patents of large, medium, small and micro enterprises were 51.0%, 57.9%, 53.9% and 33.8% respectively, all of which were higher than that of the previous year.

Second, Industry-University-Research’s cooperation has effectively improved the effectiveness of patent transformation. In 2023, the average income of Industry-University-Research’s invention patent industrialization reached 10.332 million yuan/piece, which was 24.5% higher than the average income of’s invention patent industrialization (8.296 million yuan). The survey also shows that the proportion of enterprises solving key technologies or key parts problems through Industry-University-Research cooperation is the highest, reaching 56.1%, indicating that Industry-University-Research cooperation plays an important role in tackling key core technologies.

Third, the protection of intellectual property rights in China has continued to improve. In 2023, the proportion of Chinese patentees who had suffered patent infringement was 6.7%, down 1.0 percentage points from the previous year. In contrast, the proportion has been above 10% during the 13 th Five-Year Plan period and below 8% during the 14 th Five-Year Plan period. Among the cases involving enterprises in patent infringement litigation in China, the proportion of cases in which the amount of compensation, court mediation or out-of-court settlement is more than 5 million yuan is 8.4%, an increase of 1.4 percentage points over the previous year, and it has remained above 7% in the past three years, indicating that the illegal cost of intellectual property infringement in China is constantly increasing.

Fourth, the ranks of intellectual property talents in enterprises are growing. In 2023, 61.3% of China’s enterprise patentees have full-time intellectual property management personnel, 78.3% have part-time intellectual property management personnel, and only 8.6% of enterprise patentees have no full-time or part-time intellectual property management personnel. The survey also shows that 26.9% of enterprise patentees plan to expand the team of intellectual property management personnel in the coming year.

China’s patent investigation has gone through 16 years. In 2008, the Outline of National Intellectual Property Strategy was promulgated and implemented, and the patent investigation in China came into being. Over the years, with the strong support of local intellectual property management departments and respondents, the investigation work has been continuously deepened and improved. In 2023, the patent investigation further optimized the investigation content and organization mode, and strengthened the thematic analysis of Industry-University-Research’s cooperative innovation, overseas intellectual property protection, intellectual property talents and services from the perspective of "four chains" integration; Strengthen the linkage between the upper and lower levels, strengthen the provincial patent investigation in six places including Liaoning, Heilongjiang, Jiangsu, Zhejiang, Jiangxi and Gansu, and give full play to the role of patent investigation platform; Using information technology in the survey means to realize the filling and answering of mobile phones, and constantly improve the convenience of filling and answering questionnaires.

The Report has been released to the public for the ninth consecutive year, which provides strong data support for relevant policy decisions, and also becomes an important window for the public to understand the development of China’s intellectual property cause, which has played a positive role in popularizing the patent system and enhancing the innovation consciousness of the whole society.

　　Cctv news(News Network): The Central Eco-environmental Protection Inspector is a major institutional innovation and major reform measure personally planned, deployed and promoted by the Supreme Leader General Secretary. Since the 18th National Congress of the Communist Party of China, the CPC Central Committee with the Supreme Leader as the core has made unprecedented efforts to promote the construction of ecological civilization, deployed and carried out central ecological environmental protection inspectors, adhered to a strict tone, adhered to problem orientation, resolutely investigated and dealt with a number of major typical cases that damaged the ecological environment, solved outstanding ecological environmental problems that were strongly reflected by a group of people, and promoted historic achievements and changes in China’s ecological civilization construction and ecological environmental protection.

　　Since the 18th National Congress of the Communist Party of China, the CPC Central Committee with the Supreme Leader as the core has put the construction of ecological civilization in a prominent position in its overall work and promoted the reform of the ecological civilization system. In 2015, the General Secretary of the Supreme Leader personally planned and deployed to promote the establishment of a central eco-environmental protection supervision system, demanding that it be an important starting point for the construction of ecological civilization, and strengthening the requirements of the party and government for the same responsibility and one post and two responsibilities for ecological environmental protection. Inspector’s key sword refers to prominent environmental problems, frequent major environmental incidents, and ineffective implementation of environmental protection responsibilities.

　　Xu Bijiu, Executive Deputy Director of the Central Ecological Environmental Protection Inspector’s Office(Central Ecology) The system of environmental protection supervision was carried out under the personal care, promotion and deployment of the General Secretary from its establishment to its operation to its further development. If the general secretary repeatedly emphasizes the requirements, he must always adhere to the strict tone and problem orientation, persist in strengthening rectification, dare to resist the pressure, and dare to touch the truth.

　　Protect the ecological environment with the strictest system and the strictest rule of law. Every link and report of the central eco-environmental protection inspector should be made public from the beginning of stationing, sinking inspectors, feedback problems to rectification and accountability. From the end of 2015 to 2018, the first round of inspectors completed the full coverage of 31 provinces (autonomous regions and municipalities directly under the Central Government) and Xinjiang Production and Construction Corps in three years, and "looked back" on the rectification of 20 provinces. In July 2019, the second round of central eco-environmental protection inspectors started again. This round added inspectors to the National Energy Administration, the National Forestry and Grassland Bureau and six central enterprises. The focus of inspectors has also expanded from solving outstanding environmental problems to focusing on major regional strategies and promoting high-quality development.

　　"Great protection and no great development" is the strategic direction set by the Supreme Leader General Secretary to promote the high-quality development of the Yangtze River Economic Belt. Nantong, Jiangsu Province, which is located at the mouth of the Yangtze River, is the last ecological barrier for the great protection of the Yangtze River. The Wushan and Binjiang areas here were once described as "the riverside does not see the river, and the near water is not hydrophilic" because of the problems of surrounding the river with chemicals, many docks and sewage outlets everywhere. In 2016, after the central eco-environmental protection inspector pointed out the related problems in the Nantong section of the Yangtze River, the local authorities took the opportunity of inspector rectification to implement ecological protection and restoration, optimize the layout of the coastline along the Yangtze River, promote industrial transformation and upgrading, and enhance the level of green development. In the past, the beautiful scenery of the Yangtze River reappeared and was praised by the General Secretary.

　　General Secretary of the Supreme Leader: "I am particularly impressed by the magnificent Yangtze River here. This time, look at this scenery. In the past, it was a place with low scattered pollution, and it was indeed a great change. Such a happy life is also built and struggled by yourself, and I wish you a better life here. "

　　Today’s Nantong, under the impetus of the central eco-environmental protection inspector, has changed its concept, found a correct position, accelerated its transformation, and built a green foundation for high-quality economic development with high-level ecological protection.

　　Henry Hui Wang, Secretary of Nantong Municipal Committee of Jiangsu ProvinceAt that time, what we felt was responsibility and pressure, but now what we feel is the opportunity and confidence of "ecological priority and green development"

　　The vitality of the system lies in its implementation. In the past seven years, the central eco-environmental protection inspector has completed two rounds of full coverage, accepting a total of 287,000 reports from people who have been transferred to other offices, and 285,000 have been completed or phased, which has solved a large number of problems that have been solved for a long time but have not been solved, and has done many important things that I wanted to do in the past.

　　In Qinling Mountain, Shaanxi Province, illegal villas have been transformed into parks and green spaces, and the quality of ecological environment has been significantly improved. In many places in Hainan, the problem of illegal reclamation has been actively rectified and ecological restoration has been carried out, and "ecological scars" are "healing". In Shantou, Guangdong Province, through river basin management and industrial upgrading, the water quality of Lianjiang, which used to have a cross-flow of sewage, is now stable to Class IV. In Kunming, Yunnan, illegal buildings in the first and second protected areas of Dianchi Lake have been banned, and the ecological background of the Pearl of the Plateau is more beautiful.

　　Professor Xin Ming of the Central Party School (National School of Administration)The central eco-environmental protection supervision system is an important original achievement and institutional guarantee of the supreme leader’s ecological civilization thought. The organic unity of the political advantages of the Party’s leadership, the institutional advantages of state governance and the main advantages of the people has created an environmental protection sword for China’s ecological civilization construction, which fully embodies the far-sighted strategic layout of the Supreme Leader General Secretary and fully demonstrates the practical power of the Supreme Leader’s ecological civilization thought.

　　"particle robot" system

　　The robot we see now may be human, or it may be a mechanical arm and a big machine … … Do you dare to imagine that the robot in the future may be composed of countless "cell" robots, not only human beings have autonomous consciousness, but also can change their shapes at will like the robot in Terminator, and even more like human beings, even if "cells" age and die every day, it will not affect the normal body function at all … …

　　On November 3rd, many authoritative scientists from all over the world gathered at Tencent Science WE Conference in Beijing to explore the future "small universe". At the meeting, the reporter of Yangzi Evening News interviewed Hod Lipson, a researcher of the new particle robot, director of the Creative Machine Laboratory of Columbia University and professor of engineering.

　　Yangzi Evening News/Zi Niu News reporter Xu Xiaofeng

　　Explore the future

　　In the world of grandchildren, machines will have a sense of autonomy

　　Let the robot take care of itself and manage itself.

　　Robots have autonomous consciousness and even bite human beings, which has always been a problem that many scientists worry and argue about. The new "particle robot" reported on the cover of Nature magazine on March 20 this year can move collectively like living cells. Simply put, just like the human body is made of cells, this "particle robot" may also be combined into a robot that can be truly autonomous or even "regenerated".

　　In the future, robots will have autonomous consciousness, but I am not worried. As one of the leaders of the particle robot research team, Professor Hod Lipson thinks that "it is inevitable that there will be such a day. I don’t know whether it will happen in 10 years or 100 years, but I am more sure that our grandchildren will live in a world where machines will have self-awareness."

　　For the threat theory of autonomous robot, Hod Lipson uses the example of "fire" to express his views — — Fire is very dangerous and powerful. But do humans wish they had never discovered fire? The answer is no. Because with a fire, you can do many things that you couldn’t do before, such as eating cooked food, heating and so on. Robots with autonomous consciousness are powerful and dangerous, and this technology is worth owning. It is important for everyone to realize what this robot can and can’t do, and make sure to use it for good things.

　　"Just like the face recognition technology that has been criticized by many people for invading privacy, it is a great help to find missing children; The UAV, which may be developed into an attack weapon, is a useful tool to help farmers take care of crops when it is used in agriculture. Therefore, the mirror of AI is just ‘ Enlarged ’ Whether AI develops in a good direction or a bad direction depends on the intentions of developers and users. We have developed and used many machines now, and the number of these machines will become more and more complicated. One day, humans will not be able to directly take care of so many and complicated robots. We must find ways to let robots take care of themselves. "

　　"particle robot" should "transform" into nanometer

　　Or you can simulate a "life-like body" with thousands of widgets.

　　According to Hod Lipson, the so-called "particle robot" system consists of many individual units, with a simple disk shape, a built-in battery, a communication module, a small motor and a uniquely designed mechanical structure. Every part of the particle robot is very simple and cannot move independently. But if the three particles are put together, when the particles are instructed to expand and contract, they will interact with the other two "neighbors", and you will push me and drag me to complete the straight line walk. After adding more particles, more complicated things can be accomplished. A robot composed of a group of particles can move around, transport objects and avoid obstacles under the guidance of light.

　　The scientific evaluation of particle robot technology developed by Hod will lead to the fourth wave of artificial intelligence, and the machine will probably have the unique creativity of human beings in the past. The great thing about this "particle robot" is that it is just like the cells that make up the human body. Even if 20% of the particles fail, the whole system can still run, which is also a breakthrough in the viability of the system. Hodglipson said that cells are constantly being produced, aging and dying in people every day, but I am still me, and you are still you. Now build a robot, like a human body, which can be composed of these parts (particle robots). Even if it is partially damaged, it can still function normally as a whole like a human body.

　　This is completely different from our idea of building machines today. An airplane is made up of many parts. If any part fails, the airplane can’t go to the sky. But the robot composed of particle robots is more like an organism, with brains to model and develop itself, and maybe it can be repaired and regenerated in the future.

　　Hod Lipson told reporters that in the future, "particle robots" will be smaller and will form robots to operate like tens of millions of cells. So using nanotechnology or at least micron technology is the next goal. It is impossible to have a practical scene until every part of the particle robot is small enough.

　　What are the benefits of "life-like" robots? Hodglipson said that organisms can be 100% recycled. For example, if you eat a food, your body will recycle the useful substances it provides to you and make full use of it. In the future, there may be a physical machine that can realize this cycle, which is composed of millions and tens of millions of small parts and becomes a recyclable ecosystem. The primary application of this robot may appear in the exploration of the universe. For example, when exploring the moon, these robots can change their shape to adapt to and explore the environment.

　　international cooperation

　　Among the 10 doctoral students in the team, there are 4 Chinese.

　　Do China and the United States have different research focuses in the field of artificial intelligence? NO！

　　Hod Lipson told reporters that there are 10 doctoral students in his research team, including 4 Chinese, and there are more Chinese among the master students, accounting for about half and more than 10. There are also many Chinese among the faculty and staff of our university.

　　In the field of artificial intelligence and robotics, the number of papers published in China, the United States and Europe is roughly the same. Hod Lipson believes that in the world of artificial intelligence and robotics, the world is really flat, and everyone has a strong sense of sharing, which has greatly promoted international cooperation. Hod Lipson’s laboratory is visited by reporters to take photos and ask questions day and night, and sometimes they ask very difficult questions.

　　Some people say that the difference between China and the United States in the fields of artificial intelligence and robotics is that China may be more applied in research, while the United States has done more solid basic research. Hod Lipson said that he didn’t think so. Both Chinese and American scientists are involved in research. In his own laboratory, some researchers pay more attention to application and some pay more attention to basic theory. For example, he has a project of his own that is a robot that can "catch" this action. Researchers will have a lot of contacts with the factory to study whether it can catch 100,000 times without failure, and there are people who pay special attention to the creativity and self-awareness of robots. This is a more philosophical thinking. Therefore, in the wider field of artificial intelligence and machinery, practical and theoretical basic research is widely carried out.

CCTV News:This year, as witnesses, we cheered for the country, with vast mountains and rivers and fireworks, and China in the new era is full of vitality; In this year, as participants, we stood shoulder to shoulder with the country, overcame all difficulties, and China on the new journey bravely moved forward; A little bit of starlight, even if it is weak, together is the bright Milky Way. It is millions of ordinary people, you and I, who have finally achieved extraordinary China. Next, let’s review 2023, which is full of struggle and courage, look at the thriving land of China and feel the vitality and vitality of Chinese modernization together.　

[Groups of growing economic data depict indomitable struggle China]

In the first three quarters of 2023, the gross domestic product (GDP) increased by 5.2% year-on-year, the economic aggregate grew rapidly, the growth rate remained ahead of the major economies in the world, and high-quality development was solidly promoted.

In 2023, we overcame frequent natural disasters, and the country’s grain harvest again, with a total output of 1,390.82 billion Jin, an increase of 17.76 billion Jin over the previous year, and it has been stable at more than 1.3 trillion Jin for nine consecutive years, hitting a new record high.

In 2023, global trade demand continued to be under pressure, but China’s foreign trade "new three kinds" exports still performed brilliantly. Data show that in the first 11 months of this year, China’s "new three products" such as new energy vehicles, lithium batteries and photovoltaic products exported a total of 1,014.2 billion yuan, up 30.7% year-on-year. The new growth reflects the continuous accumulation of manufacturing capacity in China, and it also shows that new advantages are constantly being formed in the high-quality development of manufacturing in China.

In 2023, we will open the market more confidently, participate more actively in international affairs, and pay more attention to safeguarding and improving people’s livelihood. On the journey of promoting Chinese modernization, China is getting better and better with down-to-earth work and perseverance.

This year marks the tenth anniversary of the "One Belt, One Road" initiative. Over the past decade, more than 150 countries and more than 30 international organizations have joined in building the "Belt and Road" family, and a large number of landmark projects such as China-Laos Railway and Jakarta-Bandung High-speed Railway have been completed and put into operation. This year, the Regional Comprehensive Economic Partnership Agreement (RCEP) came into full force for 15 signatory countries, and China’s Pilot Free Trade Zone has also been upgraded and expanded to 22, and Xinjiang has joined the family of Pilot Free Trade Zones.

Join hands with the world and move towards prosperity. In the first three quarters of this year, the per capita disposable income of Chinese residents reached 29,398 yuan, a year-on-year increase of 5.9%. This year, the results of the third batch of high-value medical consumables and the eighth batch of centralized drug procurement organized by the state have been implemented nationwide, and the overall cost of dental implantation has also dropped significantly. 1-mdash this year; In November, the national tax reduction and fee reduction and tax refund deferral exceeded 1.8 trillion yuan, and taxpayers in the private economy were the main beneficiaries of preferential tax and fee policies, accounting for 73.8%.

This year, the Chinese civilization tracing project released the latest achievements, which deepened the understanding of the origin and early development of Chinese civilization. A breakthrough has been made in the archaeology of Sanxingdui site, and it is estimated that the burial age of six sacrificial pits is concentrated in the late Shang Dynasty and early Zhou Dynasty. The cultural landscape of Pu ‘er Jingmai Mountain ancient tea forest has been listed in the World Heritage List, and the number of world heritage sites in China has increased again … … The splendid Chinese civilization has condensed a strong spiritual force for strengthening cultural self-confidence and building a cultural power.

In today’s China, the people’s better life is constantly realized, the high-level opening-up is promoted vertically, and the international influence is increasing day by day … … Step by step, progress bit by bit, the thriving land of China, vividly shows the vitality and weather of Chinese modernization.

　　　　　　 In the first 11 months of this year, the R&D expenditure of central enterprises exceeded 900 billion yuan.

The reporter learned from the State-owned Assets Supervision and Administration Commission of the State Council that in the first 11 months of 2023, the R&D expenditure of central enterprises reached more than 900 billion yuan, an increase of nearly 70 billion yuan.

In 2024, the R&D investment intensity and scientific and technological output efficiency of central enterprises will continue to improve, the overall asset-liability ratio will remain stable, the transformation of traditional industries will continue to be promoted, the construction of 100 digital transformation pilot enterprises and 100 smart factories will be accelerated, and the green and low-carbon transformation in the fields of industry, construction and transportation will be further promoted.

China’s manufacturing production index has been in the expansion range for seven consecutive months.

China Federation of Logistics and Purchasing and National Bureau of Statistics announced today (December 31, 2023) that the purchasing managers’ index of China manufacturing industry in December was 49%. From the main sub-indices, the production index reflecting the product supply of manufacturing enterprises is 50.2%, which has been in the expansion range for seven consecutive months; The expected index of production and business activities reflecting the confidence of enterprises has risen for three consecutive months.

　　　　　　 Throughout the year, the economy showed a steady recovery and the structure improved.

According to the annual trend of purchasing managers’ index of manufacturing industry, the annual average value of purchasing managers’ index of manufacturing industry in 2023 is close to 50%, which is 0.8 percentage points higher than the annual average value in 2022, and the economy shows a steady recovery and a good structural development trend.　

In 2023, the annual average of purchasing managers’ index of manufacturing industry in China was 49.9%, which was 0.8 percentage points higher than that in 2022. From the trend of the year, the purchasing managers’ index of manufacturing industry ran at a good level of more than 50% in the first quarter, indicating that the economy recovered rapidly after the impact of the epidemic subsided; In the second quarter, the index dropped rapidly, indicating that the economic recovery momentum slowed down after the rapid release of backlog demand; In the third and fourth quarters, the average index was around 49.5%, which showed that China’s economy maintained a relatively stable operation, driven by the active implementation of policies and measures to stabilize the economy and promote growth.

From the perspective of enterprise market expectation, in the second half of 2023, the average expected index of production and operation activities is higher than that in the first half and the second half of 2022, indicating that enterprise confidence is constantly boosting.

Experts said that looking forward to 2024, China has a solid super-large-scale market and strong production capacity advantages, and it is still a vital link in the global supply chain value chain. Various policies and measures to stabilize the economy, promote growth and optimize the structure have continuously achieved results. The foundation for China’s economy to continue to operate well is still relatively solid, and the economy is expected to continue to pick up in 2024.

Eight departments issued the Guiding Opinions on Accelerating the Transformation and Upgrading of Traditional Manufacturing Industry.

The Ministry of Industry and Information Technology and other eight departments recently jointly issued the Guiding Opinions on Accelerating the Transformation and Upgrading of Traditional Manufacturing Industry, proposing that by 2027, the penetration rate of digital R&D design tools and the numerical control rate of key processes of industrial enterprises will exceed 90% and 70% respectively, and the intensity of industrial energy consumption and carbon dioxide emission will continue to decline.

In the first 11 months, the profit of China’s software industry increased by 12.9% year-on-year

According to the data of the Ministry of Industry and Information Technology, in the first 11 months of this year, China’s software business revenue exceeded 11 trillion yuan, showing a rapid growth trend; The total profit reached 1,303.3 billion yuan, a year-on-year increase of 12.9%.

[Great country project highlights China’s strength and adds new kinetic energy to the high-quality development of China’s economy]

This year, new breakthroughs have been made in a series of major projects, from the eastern coast to the northwest inland, from the underground 10,000 meters to the deep blue sea. These landmark achievements reflect China’s increasingly high-spirited innovative ideas and continuous innovation vitality in generate.

It is 8848 meters above sea level, which is the height of Mount Everest, the highest peak on earth. And if you reverse the direction and extend several kilometers below the ground, what will you find? This year, China found the answer in the Taklimakan Desert in Xinjiang. On November 15th, 2023, the "Shendi No.1" Yuejin 3-3 well located in Tarim Basin, Xinjiang, obtained high-yield oil and gas flow from the well depth of 9432 meters. 9432 meters, the depth of this completed drilling is nearly 600 meters more than that of Mount Everest, setting a new record for the inclined depth of the deepest well in Asia and the horizontal displacement of ultra-deep drilling.

Thousands of meters deep, we found precious "black gold"; Prospering towards the sea, we turn the sea breeze into a surging "blue power". On June 28th this year, the world’s first ultra-large capacity 16 MW offshore wind turbine was successfully hoisted in Fujian. The height of the hub center of this super windmill is 152 meters. It can generate more than 66 million kWh of electricity a year, which is enough for 36,000 households to use electricity for one year. Moreover, all the key components of this wind turbine are made in China.

Ten years of water supply in the first phase of the East Route of South-to-North Water Transfer Project: optimizing the allocation of water resources, more than 68 million people directly benefited.

The South-to-North Water Transfer Project is an important strategic infrastructure to alleviate the shortage of water resources and the deterioration of ecological environment in northern China and promote the optimal allocation of water resources. On November 15th this year, the first phase of the East Route of South-to-North Water Transfer Project was officially opened for the 10th anniversary. In the past ten years, more than 40 billion cubic meters of river water has been pumped, and the population directly benefited from the water receiving area exceeds 68 million.

　　　　　　 Major projects are frequently "innovative" to show the hard-core strength of China manufacturing.

Underground exploration, strong to the chart, major projects frequently "new", fully demonstrating the hard-core strength made in China; Crossing mountains and seas to overcome difficulties, the construction of big country projects is constantly adding new kinetic energy to the high-quality development of China’s economy.　

The clear waves are vast and turbulent. Major national water conservancy projects — — In 2023, the project of diverting water from the Han River to the Wei River was officially opened to Xi ‘an, with a total water receiving area of 14,000 square kilometers and a population of 14.11 million. The beautiful vision of the Han River flowing through the Qinling Mountains and moistening the land of Qinchuan finally came true.

A bridge flies to build a thoroughfare. Not long ago, the Tianxingzhou special waterway bridge of Changtai Yangtze River Bridge project was successfully closed. With a main span of 388 meters, this waterway bridge is the world’s largest steel truss arch bridge for highway and railway. Changtai Yangtze River Bridge connects Changzhou and Taizhou, Jiangsu Province, with a total length of 10.03 kilometers. It is the world’s first river-crossing passage integrating expressways, intercity railways and ordinary highways.

The construction of the great country project not only turns "thousands of miles away" into "close at hand", but also becomes a bond carrying happiness. Yunnan Diqing Tibetan Autonomous Prefecture is located at the junction of Yunnan, Sichuan and Tibet provinces, where many ethnic groups live together. On November 26th, 2023, the Lijiang-Shangri-La Railway was officially opened with the departure of the C 9518th "Fuxing" EMU train from here, which ended the history of no railway in Diqing Prefecture and also set up a bridge for ethnic exchanges and exchanges.

The bridge to people’s hearts also crosses national boundaries. On October 17, 2023, China and Indonesia jointly established a landmark project of "One Belt, One Road" cooperation — — Jakarta-Bandung High-speed Railway officially opened for operation, with a maximum operating speed of 350 kilometers per hour. It is the first high-speed railway in Indonesia and even Southeast Asia. It not only injects vitality into Indonesian development, but also further promotes China’s high-speed rail standards and equipment to the world.

While the traditional infrastructure continues to exert its strength, the new infrastructure has also entered the fast lane. By the end of November 2023, the total number of 5G base stations in China reached 3.282 million, covering all prefecture-level cities and county towns. China 5G is constantly consolidating the infrastructure base for the development of digital economy.

The first batch of units in the largest onshore wind power project are connected to the grid for power generation.

Today, the world’s largest onshore single wind power project — — The first batch of units in the first phase demonstration project of Wulanchabu Wind Power Base will realize grid-connected power generation, with an annual power generation capacity of 3.6 billion kWh, which will effectively promote the development of local green economy.

The first-phase project of Wulanchabu Wind Power Base of State Power Investment has a total installed capacity of 6 million kilowatts, which is located in the central and eastern part of Siziwangqi, Wulanchabu City, covering an area of over 2,000 square kilometers. The installed capacity of the first batch of grid-connected power generation units is 1.2 million kilowatts. After all the projects are put into operation, they can generate 18 billion kWh of clean electricity every year, reducing carbon dioxide emissions by 15.3 million tons.

[A number of initiatives work together to "flow" to highlight China’s traffic strength]

The annual freight volume of the Three Gorges Project reached a new high.

The reporter learned from the Three Gorges Group today that in 2023, the annual freight volume of the Three Gorges Hub reached 172 million tons, up 7.95% year-on-year, a record high. The vitality of the dam passage of the hub was further released, and the shipping benefits of the golden waterway were further brought into play.

Yongjin Railway opens, Ningbo Zhoushan Port and Yiwu are interconnected.

Today, the Yongjin Railway from Ningbo, Zhejiang Province to Jinhua has been put into operation, with a total length of about 188 kilometers and a design speed of 160 kilometers per hour. There are 9 stations in the whole line, including Fenghua, Shengzhou, Jinhua and Yiwu, realizing the interconnection between Zhoushan Port in Ningbo and Yiwu.

The annual container throughput of Beibu Gulf Port has exceeded 8 million TEUs.

In 2023, beibu gulf port’s annual container throughput exceeded 8 million TEUs, a record high, with an increase of over 10% for seven consecutive years. Up to now, there are 76 routes in the port, which has achieved full coverage of major coastal ports in China and ASEAN countries.

From January 1, 2024, Hainan will collect half of the port charges for goods.

The reporter learned from the Hainan Provincial Department of Transportation that according to the Action Plan for Reducing Fees and Improving Services at Maritime Ports in Hainan Province (2023— In 2025), in order to reduce logistics costs, from January 1, 2024, port operators in Hainan Province will collect cargo port charges at 50% of the national standards. Port dues for goods refer to the fees charged by the port administration agencies for goods handled through the port.

　　　　　　 From January 1, 2024, Guangxi Expressway will fully implement differentiated toll collection.

Recently, the Department of Transportation, the Development and Reform Commission and the Department of Finance of Guangxi Zhuang Autonomous Region issued the Work Plan for Implementing Differentiated Toll Collection to Promote High-quality Economic Development in Guangxi Expressway, starting from January 1, 2024 — By December 31, 2026, Guangxi Expressway has fully implemented differentiated charging, and studied and formulated six differentiated charging methods, including sub-payment, sub-entrance, sub-section, sub-vehicle, sub-time, sub-direction and independent pricing. It is estimated that the reduction of vehicle tolls will exceed 2 billion yuan in 2024.　

[Accelerate the construction of high-standard farmland to create a "hope field" for rural revitalization]

　　　　　　 Gansu built 28.87 million mu of high-standard farmland to help increase grain production.

High-standard farmland is the farmland with concentrated contiguous areas, supporting facilities, high and stable yield, good ecology and strong disaster resistance, which is formed through land consolidation and construction, including land leveling, irrigation and drainage, farmland protection and other projects. By the end of this year, Gansu has built a total of 28.87 million mu of high-standard farmland to promote the continuous growth of grain output.　

At present, in the construction site of high-standard farmland in Touqi Village, Hanzuo Town, Liangzhou District, Wuwei, Gansu Province, the staff installed the equipment of "water and fertilizer integrated and efficient water-saving drip irrigation" according to the specifications, which is also the last link in the construction of high-standard farmland irrigation and drainage project this year. After installation, the equipment can be put into agricultural production next spring after debugging and pressurization.

In 2023, 30 mu of cultivated land in Liu Dongsheng, a grower, was used for the first time after being built into high-standard farmland. Although affected by the dry weather, the yield per mu still reaches about 1800 Jin, and in some plots, the yield per mu even reaches 2000 Jin, which is the same as the high yield in favorable weather years.

By the end of this year, Gansu had built a total of 28.87 million mu of high-standard farmland. This year, the province’s grain output reached 12.729 million tons, an increase of 79,000 tons over last year.

Looking back on 2023, every hard-working year and every hard-working moment in the past has been fixed as an unforgettable moment; Looking forward to 2024, every good wish in the future and every hard-working day will mean a brand-new beginning; Landscape Wan Cheng, non-stop. Every drop of sweat is not in vain, and every effort has a harvest; Accompanying each other, home and country walk together. Regardless, every stroke and painting is filled with the spirit of self-improvement; Tick-tock, time continues to move slowly at its own pace. When the sun jumps over the horizon again, we will usher in a new year. The road under our feet has never been a Ma Pingchuan. With full confidence and United struggle, we will stride forward fearlessly.

　　Today (March 4th), the Supreme People’s Court and the Supreme People’s Procuratorate jointly issued the Interpretation on Several Issues Concerning the Application of Laws in Handling Criminal Cases Endangering Drug Safety, which comprehensively and systematically stipulated the conviction and sentencing standards of related crimes, and proposed solutions to the legal application problems that have been highlighted in judicial practice. The Interpretation mainly clarifies the following issues:

　　First, severely punish the crime of counterfeit and inferior drugs according to law.The "Interpretation" emphasizes that the production, sale and provision of counterfeit and inferior drugs, in which the drugs involved are mainly used by pregnant women, children and critically ill patients, are used to deal with emergencies such as natural disasters, accidents, public health incidents and social security incidents, or drug users and their staff produce and sell counterfeit and inferior drugs, should be severely punished as appropriate; Whoever produces, sells or provides fake drugs causes death or has other particularly serious circumstances shall be sentenced to fixed-term imprisonment of not less than ten years until death; Whoever produces, sells or provides inferior drugs has especially serious consequences shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment.

　　The second is to severely punish crimes that hinder drug management according to law.The crime of obstructing drug administration is an added crime in the 11th Amendment of Criminal Law. The Interpretation clarifies the specific situation that the threshold for the crime of obstructing drug management is "enough to seriously endanger human health", focusing on punishing illegal production and sale of drugs, including "black workshops". The Interpretation stipulates that a "black workshop" that has not obtained the relevant approval documents for drugs produces drugs or knowingly sells them, and the indications, functional indications or components of the drugs involved are unknown, which can constitute a crime of obstructing drug management; If the drugs involved are identified as counterfeit and inferior drugs according to law, they may also constitute crimes of producing and selling counterfeit drugs, producing and selling inferior drugs and other crimes with heavier punishment.

　　The third is to severely punish the crime of illegally purchasing and selling fraudulent drugs according to law.Medical insurance fund is the "life-saving money" of the people, which is related to the vital interests of the broad masses. In view of the current problem of using medical insurance to cheat and buy drugs and resell them for profit, the judicial organs have implemented the criminal policy of combining leniency with severity, focusing on punishing the organizers of medical insurance fraud crimes, professional insurance fraudsters and those who cheat medical insurance funds by taking advantage of their positions and occupations. The "Interpretation" further clarifies that those who knowingly illegally purchase and sell drugs purchased by using medical insurance fraud, with an amount of more than 50,000 yuan, will be convicted and punished for concealing and concealing the crime;Whoever instigates, instigates or instructs others to use medical insurance to defraud and buy drugs, and then illegally purchase and sell them, shall be convicted and punished for fraud.

　　The Interpretation will come into force on March 6, 2022. The "two highs" will guide local people’s courts and people’s procuratorates to strictly implement the provisions of the criminal law and judicial interpretation, give full play to the role of judicial functions, earnestly safeguard the people’s drug safety and life health, and continuously strengthen the judicial protection of people’s livelihood.

　　This year is the first year to implement the spirit of the 20th Party Congress. The Political Bureau of the Communist Party of China (CPC) Central Committee decided to carry out the theme education of studying and implementing the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era from top to bottom in the whole Party from April this year. The supreme leader’s rule of law thought is an important part of the supreme leader’s Socialism with Chinese characteristics Thought in the new era. When People’s Daily Online and China communist party News Network launched the series planning of learning the supreme leader’s rule of law thought, this article focused on "persisting in taking the people as the center".

　　Source: People’s Daily, Introduction to the Supreme Leader’s Thought of Rule of Law.

　　Editor: Liang Qiuping

　　Design: Ma Ting

From the design point of view, this is the first time that the domestic product is different from the European version, while the domestic new Passat is more "authentic".

Friends familiar with Volkswagen models know that the original Volkswagen could distinguish different models by having "several bars" on the front, but now Volkswagen uses the "one bar" that can be lit as a family design language.

The C-shaped on both sides of the front surround is also hollowed out to reduce wind resistance. The wheel rim is designed in a five-spoke style, and the shape is relatively sporty, but the hollowed area is not large and the weight is definitely not light.

The illuminated logo and through taillights are even reminiscent of Volkswagen’s own tram, the ID.7VIZZION.

Entering the car gives people the illusion of a pure electric car. The 15-inch large screen and the 11.6-inch passenger entertainment screen add a lot of "digital sense" to the car. Although the new Maiteng air conditioner adjustment area can be lit up, it is still not as easy to operate as the physical button. The passenger screen actually looks average, bullet comments can be scrolled across the screen, but the black edges on both sides are large and the screen display area is small.

The new atmosphere mode is worth mentioning. If you choose a different mode, the ambient light, music and meter style will change in tandem. The trim pattern of the door panel is similar to marble, and the ambient light is lit in the center position in a dot shape.

The front seats are softly filled, but the wrapping is average, and the top model supports ventilation, heating, and massage functions, as well as manual leg rests.

The rear seats are as comfortable as ever, and the top model also supports ventilation, heating, massage and angle adjustment of the electric backrest.

The new Maiteng has 1.5T and 2.0T high-power engines available, both of which are matched with a 7-speed wet dual-clutch transmission. The 2.0T high-power engine has a maximum power of 220Ps and a maximum torque of 350N · m. We are all too familiar with the new Maiteng powertrain, but the gearbox changes gears more silkily.

If you are more concerned about fuel economy, it is recommended to use the economic mode for daily driving. If you release the accelerator, the vehicle will keep the engine speed at around 800rpm and slide in neutral, and the sliding distance is very long.

Compared with the old model, the early stage of the suspension is more "soft", the chassis feedback is more comfortable, and it will provide similar "tough" support to the old model when passing through large potholes.

The steering feel of the new car is lighter, and daily driving is easier. In terms of NVH, the car is quieter when driving at medium and low speeds, and more fetal noise is transmitted into the car when driving at high speeds. The front wheels are obviously slippery when starting, and the momentum is still very strong after changing gears.

　　Jiang Aguli Ai Shan (middle) is making rounds. (Image courtesy of Xinjiang Yili Traditional Chinese Medicine Hospital)

　　Tianshan Net News (Reporter Zhao Zixuan intern Wang Luyao reports) Near May, the apricot blossoms in Nileke County, Ili Kazakh Autonomous Prefecture are in full bloom, and a piece of almond trees attracts visitors to stop and enjoy. "Xinglin" is also synonymous with the field of traditional Chinese medicine. People often praise the noble quality and excellent medical skills of doctors with "Xinglin is warm in spring".

　　Butterflies and bees are flying among the flowers, and the "sweet career" of Jiang Aguli Ai Shan, a "grassland doctor" who went out from Nilek County, has never stopped. Every holiday, she rides a horse to a remote farming and pastoral area for a free clinic, and visits poor patients for dressing change and bone setting for free.

　　Bone-setting inheritance+medical skill innovation = craftsman spirit

　　When Jiang Aguli, director of the Department of Orthopaedics, Ili Chinese Medicine Hospital, Xinjiang, is mentioned, patients and their families will give thumbs up.

　　Jiang Aguli was born in an ordinary herdsman’s family in Qunji Ranch, Nilek County.

　　"I must use traditional Kazakh bone-setting and osteopathy to relieve the pain of more patients." 40 years ago, when 13-year-old Jiang Aguli studied the traditional Kazakh bone-setting and bone-setting therapy with her grandfather and aunt, she set such an ambitious goal.

　　Jiang Aguli once broke her collarbone when she was a child, and her neck could not move. The pain was unbearable. That night, my father called my aunt on horseback. It took my aunt half an hour to help her fix, reset and apply medicine.

　　"It won’t hurt after it is fixed." Jiang Aguli said. She immediately made a decision in her mind: she would study orthopedics with her aunt. From then on, every winter and summer vacation, she went to her aunt’s house to learn from her teacher. When she met a patient with mobility difficulties, she rode a long way with her aunt to treat the patient.

　　Forty years later, Jiang Aguli, while inheriting the ancestral therapy, innovated and developed a new Kazakh medicinal ointment and self-created therapy with independent intellectual property rights, so that her medical technology not only relieved the pain of patients with bone injuries in China, but also attracted patients with bone injuries in neighboring countries such as Kazakhstan.

　　Exquisite medical skills+free diagnosis and treatment = kindness of doctors

　　As a doctor, Jiang Aguli saved every patient who was struggling with illness with a passionate heart and hard-working hands. Years have carved a solid and regretless footprint on her life path with full and affectionate brushstrokes.

　　Jiang Aguli was deeply impressed when he mentioned little Dang Kang in the orphanage.

　　A few years ago, Dang Kang Jr., who was only five years old, accidentally fell while playing, and his left femoral shaft was broken, requiring hospitalization for surgery.

　　Upon learning of this situation, Jiang Aguli immediately went to the hospital pharmacy to buy bandages and medicines, and rushed to the orphanage more than 20 kilometers away to treat him, which relieved the child’s pain and exempted him from the cost of hospitalization.

　　Jiang Aguli often takes her daughter to the orphanage to do rehabilitation for Dang Kang Jr. During this period, my daughter also forged a deep friendship with little Dang Kang, and kept this little brother in her heart.

　　On October 18, 2016, a 76-year-old man, Kadi Abdulbai, who lives in Sayiboyi Village, Kalatobe Township, Nilek County, suffered a comminuted fracture of his calf due to an accidental fall.

　　Considering that his mother was too old for surgery, the old man’s son turned to Jiang Aguli for help. Jiang Aguli quickly gave relevant treatment to the elderly and relieved their pain.

　　After learning about the actual situation of the elderly’s family’s financial difficulties, home distance and so on, Jiang Aguli decided to use the rest time to provide on-site service.

　　Since then, no matter whether it is windy or rainy or on holidays, she has insisted on dressing change and treatment at the patient’s home to guide her family members to take proper care.

　　After nearly two months’ hard work, the old man Kadi Abdulbai was finally able to walk in the fields. She excitedly took Jiang Aguli’s hand and said, "Thank you so much for coming all the way to change your medicine and being so patient. I really don’t know how to thank you … …”

　　Jiang Aguli Ai Shan (second from right) is treating patients. (Image courtesy of Xinjiang Yili Traditional Chinese Medicine Hospital)

　　Cold and hot summer+riding up and down = a long way to practice medicine

　　In the eyes of others, Jiang Aguli has made great achievements in the medical field. She was successively awarded the National May 1st Labor Medal winner, the national model of national unity and progress, the national advanced worker, the national advanced worker of health and family planning system, the advanced individual of national unity in Yili Kazakh Autonomous Prefecture, the "Top Ten Doctors" in Yili Kazakh Autonomous Prefecture, and the top talents in Yili Kazakh Autonomous Prefecture. She was selected into the "China Good People List" and won the special contribution award of Kazakh medicine of Xinjiang Kazakh Medical Association. She was awarded the title of "Frontier Health Guardian" in the advanced typical selection activity of health and family planning system in Xinjiang for 60 years and was elected as the national "2000".

　　But in Jiang Aguli’s heart, she just wants to be a qualified doctor. She said, "The task of a doctor is to save lives. When I think that everyone trusts me and comes to me so far, I must cure every patient. This is all my wish. "

　　On the operating table, Jiang Aguli is a worthy orthopedic surgeon.

　　Under the operating table, she is a patient with thyroid tumor caused by years of reduction under radiation. At the same time, she also suffers from severe lumbar diseases, osteoporosis and other diseases, and she has to endure great pain every time she visits. The operation lasted for hours at a time, and I couldn’t straighten my waist. In winter and spring, the cold wind blows in the pastoral area, and she needs to wear a waist protector to work all the year round when she goes to the mountain for a free clinic. In the face of these, Jiang Aguli did not complain.

　　In the scorching sun and the long snowstorm, Jiang Aguli walked on the road of practicing medicine without any regrets. Over the past few years, she has treated more than 100,000 patients, made more than 1,000 visits, and traveled tens of thousands of kilometers to practice medicine.