Trump will lift global chip restrictions; Extreme Krypton announced privatization and delisting, and Li Shufu responded: Return to a Geely; Huawei’s intelligent assisted driving continued to explore a

1. big move! When Krypton announced privatization and delisting, Li Shufu responded: Return to an auspicious year.

2. Li Yanhong’s internal speech exposure: It is a good thing that new technologies are constantly coming out in the market to compete with us.

3. Following the cooperation with Tencent, Xiaohongshu cooperated with Alibaba: merchants can directly embed product links into posts.

4. Get within 200,000! Expose Huawei’s intelligent assisted driving and continue to explore: it will land Baojun’s new SUV.

5. Xiaomi Automobile apologized twice in a row, responding to the dispute over SU7 Ultra ranking mode and carbon fiber double air duct front hatch cover.

6. Aviation giants enter the market to build cars! Auspicious AIR officially listed: starting from 147,800.

7. The Trump administration is reported to be planning to cancel the AI ​ ​ chip restrictions in Biden’s era.

8.OpenAI was exposed to cut Microsoft’s revenue share, which was less than 10% before 2030.

Big move! When Krypton announced privatization and delisting, Li Shufu responded: Return to an auspicious year.

On May 7, the news of extremely privatization and delisting triggered a heated discussion in the car circle. According to the announcement issued by Geely Automobile on the Hong Kong Stock Exchange, the company submitted a non-binding quotation letter to Krypton, proposing to privatize Krypton and acquire all issued and outstanding shares of Krypton and American Depositary Shares (except beneficial owners of the Group). The suggested purchase price is $2.57 per krypton share or $25.66 per American depositary share.

This price is about 13.6% higher than the closing price of American Depositary Shares in NYSE on the last trading day, and 20.0% higher than the weighted average price of American Depositary Shares in NYSE during the last 30 trading days up to the last trading day. As of the announcement, Geely Automobile holds about 65.7% of the total issued and outstanding share capital. If the privatization proposal is implemented and completed, Krypton will become a wholly-owned subsidiary of the company, realize privatization and delist from the NYSE.

It is understood that "privatization" of listed companies is a special M&A operation in the capital market, which is the biggest difference from other M&A operations. Its goal is to delist the acquired listed companies from public companies to private companies. Generally speaking, the controlling shareholder buys back all the shares in the hands of minority shareholders, expands the existing share, and finally delists the company.

Li Shufu, Chairman of Geely Holding Group, said: "In the face of fierce market competition and increasingly complex economic environment, we will judge the situation and, in accordance with the spirit of the Taizhou Declaration, continue to promote the integration of automobile business, return to a Geely, integrate technological advantages, improve innovation and profitability, continue to create long-term value, and build a world-leading intelligent electric vehicle group. At the same time, we will continue to maintain close communication and cooperation with the US and international capital markets. " (auto industry concerns)

Domestic information

Li Yanhong’s internal speech was exposed: It is a good thing that new technologies are constantly coming out in the market to compete with us.

On the evening of May 7th, in Baidu’s internal award-winning activities, the founder of Baidu, Li Yanhong, delivered a speech, saying that firmness, self-confidence and pragmatism are the culture passed down by Baidu for more than 20 years. "I am very confident that with our group of people, our execution and our efforts, we can definitely change the world."

Li Yanhong said that when he attended the Create2025 conference not long ago and took a radish run, some passing participants rolled down their windows and shouted at the radish he took, "Baidu Niu! Baidu Niu! " . "It’s quite shocking to see a car on such a crowded road that it can be driven completely without anyone."

He also said, "There are all kinds of new technologies coming out in the market to compete with us. In a sense, this is a good thing. It will promote the whole market to mature faster, so that more enterprises and more individuals can benefit from AI. " (Interface News)

Trump will lift global chip restrictions; Extreme Krypton announced privatization and delisting, and Li Shufu responded: Return to a Geely; Huawei's intelligent assisted driving continued to explore and reached the Leifeng Morning Post within 200,000.

Hungry? Renting Yushu humanoid robot to promote "flash purchase" on the street. The official response: it is an official activity, marketing for Hangzhou city characteristics.

On May 7 th, the recent online pictures showed that a row of Yushu humanoid robots dressed in blue and hungry "work clothes" appeared on the streets to promote the take-away red envelope activities, which attracted attention. In response, the hungry side responded: This is an official activity of being hungry. On May 6th, when I was hungry, I rented six Yushu robots and publicized them in Zijingjian Street, Xixitianjie Street, EFC, Hubin 88, Hubin Pedestrian Street and Ping An Yuefang in Hangzhou.

"This year, Hangzhou is on fire because of science and technology. We also want to combine this hot spot, so we will make a comprehensive attack with Yushu robots, helicopters, drones, land, sea and air, and make unexpected advertisements with Hangzhou characteristics," said Hungry. "I hope to combine the characteristics of Hangzhou to give benefits to Hangzhou citizens and create urban characteristic marketing." (IT house)

Trump will lift global chip restrictions; Extreme Krypton announced privatization and delisting, and Li Shufu responded: Return to a Geely; Huawei's intelligent assisted driving continued to explore and reached the Leifeng Morning Post within 200,000.

Following the cooperation with Tencent, Xiaohongshu cooperated with Alibaba: merchants can directly embed product links into posts.

On May 7 th, Taobao Tmall signed a strategic cooperation with Xiaohongshu to create the "Red Cat Plan". Xiaohongshu’s notes on planting grass can directly jump to Taobao App. It is understood that Tmall and Xiaohongshu are further open and integrated, opening up the whole link from planting grass to purchasing. The two sides opened the effect advertisement link for the first time, and jointly added the function of "advertising hanging chain" under the notes. For the brands that joined the pilot in the early stage, the content placed in Xiaohongshu can directly jump to Taobao Tmall.

This cooperation, for the first time, realized the full link from Xiaohongshu planting grass to Taobao Tmall consumption transformation. In the future, the cooperation between the two parties will continue to be open to more high-quality brand businesses. In real time, this is the time that Xiaohongshu once again embraced other platforms, and this time it was Ali, after allowing direct jump to WeChat applet last spring.

In the past few years, Xiaohongshu has been exploring commercialization. However, regardless of vigorously supporting e-commerce, live broadcast and buyers, or launching a "potato shop" support plan to deliver traffic to middle-aged businesses, the commercialization of Xiaohongshu has a remarkable feature: strictly control the diversion outside the station. The little red book’s support link jumps to the Tmall product page, which is a very huge turn. At present, Xiaohongshu cannot fully utilize the traffic in the platform, and the traffic of Taobao Tmall is diluted by Tik Tok Pinduoduo. The cooperation between the two parties is more like one taking money and the other taking traffic. (fast technology)

Get within 200,000! Expose Huawei’s intelligent assisted driving and continue to explore: it will land Baojun’s new SUV.

On May 7th, it was reported that many people liked Huawei’s lidar intelligent assisted driving system. However, the purchase threshold of related models is not low. At present, the cheapest model is Aouita 06 Max extended range version (with an equity price of 221,900). According to the latest news, Baojun brand under SAIC-GM-Wuling plans to launch a brand-new model, which will be equipped with Huawei ADS advanced intelligent driving scheme.

The report pointed out that the cost of Huawei’s intelligent assisted driving scheme is not low, and the cost of a single scheme is between 20,000 yuan and 30,000 yuan. Previously, it was basically aimed at the vehicle market of more than 300,000 yuan. However, Huawei is also constantly radiating the lower price range of models, reaching the level of 200,000 yuan, such as the deep blue car equipped with Huawei ADS SE scheme, and the "Shangjie" brand that SAIC and Huawei will launch. Huawei is also exploring and polishing a more complete product matrix, inciting the car market from entry-level to million-dollar luxury car.

The new car that Baojun brand plans to launch is an SUV equipped with lidar, which will be listed at the end of the year at the earliest, and the price range is about 150,000-250,000 yuan. This is the first time that Huawei’s lidar intelligent assisted driving system has been tested within 200,000 yuan. By then, it will become the most expensive model of Baojun brand, but it may also become one of the cheapest Huawei intelligent assisted driving cooperative models with laser radar. (fast technology)

JD.COM take-out exploded again and frequently timed out! Customer service response: there is a delay in the rider’s order during the peak period.

At noon on May 7th, the topic of "take-out overtime in JD.COM" appeared in Weibo hot search again. Many netizens reported that there was no rider taking orders and the take-out time was overtime when ordering JD.COM take-out recently. In this regard, JD.COM customer service said: "There may indeed be a delay in the rider’s order during the peak period."

At the same time, the delivery of take-away orders is related to the user’s city, the weather at the time of ordering, etc. Generally, it can be delivered on time under non-special circumstances, but it may be delayed during the peak period or under the influence of the weather. At present, the platform also has the activity of free of charge for 20 minutes overtime. However, many people also said that it’s a little time to eat at noon. Although JD.COM’s take-out is indeed free of charge, it’s really annoying not to eat at that time.

In addition, JD.COM does not impose a mandatory "two-choice" restriction on riders, and allows part-time riders to take orders on other platforms such as Meituan and Dada at the same time, which leads some riders to even open 3-4 order taking systems at the same time, and coordinate order distribution through algorithms to increase their income. Some netizens responded: "The JD.COM takeaway at yesterday’s point and other takeaways at today’s point are delivered by the same rider. It is definitely too late for one person to deliver so many orders." (fast technology)

Xiaomi Automobile apologized twice in a row, responding to the dispute over SU7 Ultra ranking mode and carbon fiber double air duct front hatch cover.

On the evening of May 7th, Xiaomi Automobile issued an official response and apologized twice for the two disputes caused by the recent Xiaomi SU7 Ultra model-the change of the unlocking conditions of the "ranking mode" and the unclear expression of the function of the carbon fiber double air duct front hatch cover.

Previously, in the updated version pushed by Xiaomi SU7 Ultra, the "ranking mode" function added an unlocking condition, which caused some users’ dissatisfaction. According to user feedback, the new unlocking conditions restrict the free use of vehicle performance, which is inconsistent with the expectations when buying a car. In response, Xiaomi Automobile said that after receiving the feedback, Xiaomi has suspended the push of this version and immediately promoted the development and testing of the new version, which is expected to take 4 to 8 weeks. Xiaomi explained that the function adjustment was originally intended to strengthen driving safety, but admitted that the user’s opinions were not fully solicited and communication instructions were insufficient in the decision-making process.

At the same time, the carbon fiber double air duct front hatch cover of Xiaomi SU7 Ultra is also controversial. Some car owners questioned the difference between its actual function and propaganda, and thought that the part was only for appearance decoration, which did not achieve the expected air flow export and heat dissipation effect. Xiaomi Automobile responded that the front hatch cover does have some airflow export and auxiliary front cabin heat dissipation functions, but admitted that the previous information expression was not clear enough.

In fact, this is not the first time that Xiaomi Automobile responded and apologized quickly due to user feedback. On March 29th this year, a user suspected of being a senior executive of ByteDance complained about the test drive experience of Xiaomi SU7 Ultra on WeChat group, saying that car ferry was temporarily cancelled after the test drive, and he was forced to walk 300 meters back to the parking lot, thinking that "the service details hurt people". Just two hours later, Lei Jun personally apologized and said that he would improve immediately. (whipping ox)

DeepSeek thanked Tencent’s technical team: this is a "great acceleration" code contribution.

On May 7th, DeepSeek thanked Tencent’s technical team. According to reports, Tencent’s technical team deeply optimized DeepSeek’s open-source DeepEP communication framework, enabling it to achieve significant performance improvement in various network environments. The technical scheme was publicly acknowledged by DeepSeek, saying that it was a "huge acceleration" code contribution.

It is understood that since DeepSeek opened five code bases, including DeepEP, in February this year, the team showed the industry how to use limited hardware resources to achieve the performance close to Wanka cluster. Among these technologies, DeepEP has improved the communication efficiency by 300% with a breakthrough method, and successfully solved the dependence of MoE architecture model on NVIDIA NCCL. However, this technology does not perform well in the RoCE network environment with lower cost and wider application, which limits its application in a wider range of scenarios. This pain point has triggered a continuous discussion in the open source community.

Under Tencent’s technical optimization, DeepEP not only doubled the performance in RoCE network, but also improved the original communication efficiency by 30% when it was fed back to IB(InfiniBand) network. At present, this technology has been fully open source, and has been successfully applied to the training and reasoning of Tencent’s mixed-element model and other projects. In the high-performance environment built by Tencent Star Pulse and H20 server, this scheme shows excellent versatility. (Sina)

The founder of Box Horse started his business again, and Pat Xiansheng completed $25 million in angel round financing.

Recently, Pat Xiansheng, a new retail brand of pet fresh food founded by Hou Yi, the founder and former CEO of Box Horse, announced the completion of $25 million angel round financing, setting a new high for angel round financing in the pet industry in recent years.

According to public information, Pat Xiansheng was founded at the end of 2024. In terms of shareholding structure, Hou Yi, the founder of Pat Xiansheng, holds 51% of the shares, and Huang Hualong, the founder and chairman of the pet products manufacturer, holds 49%. Interestingly, this is not the first time the two sides have held hands. As early as 2021, Naiwick cooperated with Box Horse to open the world’s first pet restaurant and explore the "pet+new retail" model. This investment can be said to be the continuation of Huang Hualong and Hou Yi.

Hou Yi once revealed to the media that Paite Xiansheng is mainly engaged in new retail stores, integrating online and offline. He said: "We only make food. Nowadays, the difference between pet food and human food is too much … (This market) is completely blank. " (Hunting Cloud Network)

Will Lenovo products increase in price in the next few months? Yang Yuanqing responded on the spot.

On May 7, the US tariff policy had a certain impact on global technology enterprises. Regarding the question of whether Lenovo products will increase in price next, Yang Yuanqing, chairman and CEO of Lenovo Group, responded to the media during the Lenovo Tech World 2025 conference, saying that at present, high-tech products, especially semiconductor-based products, generally enjoy tariff exemption policies, so the impact on product pricing may be relatively limited in the short term.

Yang Yuanqing pointed out that as a global enterprise, Lenovo’s product pricing is mainly influenced by two key factors: the supply and demand of parts and the change of tariff policy, which will directly determine the price trend of Lenovo products in the next few months. When talking about the impact of tariffs, Yang Yuanqing said that at present, high-tech products, especially products based on semiconductors, generally enjoy tariff exemption policies, so the impact on product pricing may be relatively limited in the short term. However, he also stressed that the situation may be different if there are major changes in future policies. (Phoenix Net Technology)

It was reported that it was merged into Dongfeng Group as a second-class enterprise, and Changan Automobile rumored that it would pursue the responsibility of relevant parties.

On the afternoon of May 7th, the official of "Changan Automobile False Information Reporting Center" denied the rumor, saying that during May 5th to May 6th, Changan Automobile discovered that a group of media accounts had systematically spread false information, slandered China automobile brands and maliciously slandered the relationship between Changan Automobile and other automobile brands. From the content, the related rumors all point to "Changan Automobile merged into Dongfeng Group as a second-class enterprise", and advised Changan Automobile not to release the car sales separately, in addition to some "inside stories and hidden feelings" that sound serious.

Changan Automobile said that the relevant content had a bad influence on the brand image of Changan Automobile, and also affected the healthy development order of the industry. For the subjects/individuals who spread the above false information, Changan Automobile has taken legal measures to safeguard the legitimate rights and interests of enterprises. If netizens have detailed information about the organization behind the spread of such false content, they can send it to them in the background. Once verified, the whistleblower will receive a reward of up to 1 million yuan.

Aviation giants enter the market to build cars! Auspicious AIR officially listed: starting from 147,800.

On May 7th, it was reported that Jixiang AIR, the first model launched by Jixiang Airlines’ Jixiang Automobile, has been officially launched, and two models have been launched, with the prices of 147,800 yuan and 159,800 yuan respectively. The B model is priced at 147,800 yuan, and the comprehensive cruising range of CLTC is 435 kilometers; The D model is priced at 159,800 yuan, and the comprehensive cruising range of CLTC can reach 530 kilometers.

It is reported that the symbol of auspicious automobile consists of two English letters "J", which symbolizes the air-land linkage between auspicious aviation and auspicious automobile, and also means "happy life and good luck all the way". Auspicious AIR’s exterior design is inspired by civil airliners and adopts a closed grille design. In terms of interiors, Auspicious AIR is equipped with Crystal OS cockpit operating system, which is jointly created by Auspicious Automobile and Unity to provide a full 3D multi-modal desktop interactive experience. The vehicle is equipped with Qualcomm 8155 cockpit platform, and three sets of desktops are designed, including car control desktop, interactive desktop auspicious world and pet desktop.

Trump will lift global chip restrictions; Extreme Krypton announced privatization and delisting, and Li Shufu responded: Return to a Geely; Huawei's intelligent assisted driving continued to explore and reached the Leifeng Morning Post within 200,000.

Market News: The IPO price of Contemporary Amperex Technology Co., Limited and Hongkong may be less than 10% discount to A shares.

On May 7th, according to several unnamed insiders, potential investors listed in Contemporary Amperex Technology Co., Limited and Hongkong have been told that the issue price may be less than 10% lower than the A shares listed in Shenzhen. Two people familiar with the matter said that the discount rate may be in the middle single digits. At present, the pricing has not been finalized. (Sina Finance)

The network car giant is optimistic about China’s autonomous driving company, and Uber adds 100 million US dollars of equity investment to Wen Yuan Zhixing.

On May 7th, according to media reports, people familiar with the matter said that Uber promised to add $100 million (the current exchange rate is about 721 million yuan) of equity investment to Wen Yuan Zhixing on the basis of existing investment. According to informed sources, the investment will be delivered in the next few months, which is Uber’s largest investment in the field of autonomous driving so far. It is worth noting that on May 6th, Uber announced that it had reached a strategic cooperation with Xiaoma Zhixing, a domestic autonomous driving company, and also announced that it would expand its strategic cooperation with Wen Yuan Zhixing. (IT house)

Huawei’s internship qualification was openly sold! Huawei rumors: it’s all fake.

On May 7 th, in March this year, Huawei officially launched the 2026 intern recruitment, but many scams appeared on the Internet under the name of Huawei internship. WeChat official account, Huawei’s recruitment official, issued a reminder today that some intermediaries have recently sold Huawei’s "internal internship", "internship recommendation letter" and "remote internship" on the Internet, and some students have been deceived. Huawei said: "I would like to remind all students that Huawei has no internship methods such as" internal internship "and" remote internship ",and has never cooperated with any third party (intermediary or individual) in any form." (fast technology)

International information

The Trump administration is reported to be planning to cancel the AI ​ ​ chip restrictions in Biden’s era.

At 3: 40 am on May 8, according to foreign media reports, Trump plans to cancel the restrictions on artificial intelligence chips in the Biden era, which is part of his comprehensive revision of semiconductor trade restrictions. NVIDIA shares rose after the news was released. These restrictions were strongly opposed by major semiconductor companies such as NVIDIA, AMD and Intel and foreign governments.

According to people familiar with the matter, the revocation decision has not yet been finalized, aiming at reshaping a policy introduced during Biden’s administration, which divided countries into three categories to regulate the export of AI chips by companies such as NVIDIA. According to people familiar with the matter, the Trump administration will not implement the so-called artificial intelligence diffusion rules that will take effect on May 15.

A spokesman for the US Department of Commerce said in a statement that the Biden administration’s artificial intelligence rules are too complicated and bureaucratic, which will hinder innovation in the United States. We will replace it with a much simpler rule, which will release the innovation vitality of the United States and ensure the dominant position of the United States in the field of artificial intelligence. (AIGC open community)

Trump will lift global chip restrictions; Extreme Krypton announced privatization and delisting, and Li Shufu responded: Return to a Geely; Huawei's intelligent assisted driving continued to explore and reached the Leifeng Morning Post within 200,000.

OpenAI was exposed to cut Microsoft’s revenue share, which was less than 10% before 2030.

On May 7 th, according to foreign media reports, OpenAI has informed investors that while promoting the company’s restructuring plan, it will significantly reduce the revenue sharing ratio with the main supporter Microsoft. Bowen pointed out that according to the existing agreement, OpenAI agreed to share 20% of its revenue with Microsoft by 2030. The latest leaked private documents point out that OpenAI has made it clear to some potential and existing investors that by 2030, the revenue share with business partners including Microsoft will be controlled within 10%.

According to previous reports, OpenAI abandoned its plan to turn itself into a for-profit company, and kept its overall business under the control of non-profit organizations. This move was thought to weaken the power of CEO Sam Altman within the company. Microsoft hopes that the structural adjustment of OpenAI can fully protect Microsoft’s investment interests. People familiar with the matter also said that Microsoft is still actively negotiating the details of the restructuring plan. (IT house)

IBM CEO: AI replaced hundreds of employees, but the total number of employees actually increased.

According to reports, Arbide Krishna, CEO of IBM, said on Monday that the company has used AI, especially AI agents, to replace the work of hundreds of human resources employees. However, it also prompted the company to recruit more programmers and sales staff.

Krishna, CEO of IBM, said: "Although we have used AI and automation technology extensively for some enterprise workflows within IBM, our total number of employees has actually increased, because these technologies enable us to invest more in other fields."

Krishna refers to "other fields" including software engineering, sales and marketing, which is what he calls "focusing on critical thinking". In these positions, people need to perform "the task of interacting with others or solving problems face to face, not the process work of mechanical repetition". (Sanyan Technology)

Apple pushed Safari to AI search, and Google’s share price once fell by more than 9%

According to media reports, Apple is actively studying the improvement of Safari browser, hoping that the latter will turn to a search engine driven by artificial intelligence (AI). This means that the long-term cooperative relationship between Apple and search engine giant Google may end. Affected by this news, Google’s share price once fell more than 9% on Wednesday, and Apple once fell nearly 3%.

The US Department of Justice recently filed an antitrust lawsuit against Google’s parent company Alphabet. Eddy Cue, senior vice president of Apple’s service business, disclosed the above news during his testimony. At the heart of the case is an annual agreement of about $20 billion between the two technology giants, which makes Google the default search engine in Apple’s browser. This lawsuit may force Apple and Google to terminate their cooperation, thus subverting the long-term operation of the iPhone and other devices.

In addition, it is worth noting that Cue, senior vice president of Apple, said that Apple and Microsoft have reached an annual search cooperation agreement. Apple has no intention of developing its own general search engine. (Finance Association, Fast Technology)

Tesla’s sales in Europe fell sharply, even though the new Model Y began to exert its strength.

According to media reports, Tesla’s sales in major European electric vehicle markets continued to decline in April, although the company’s most popular model launched an upgraded version. The British Automobile Manufacturers and Traders Association said on Tuesday that the company registered only 512 new cars in the UK last month, down 62% year-on-year. Tesla’s sales in Denmark, the Netherlands and Sweden fell even more, with a minimum of two-thirds.

Although Tesla has begun to deliver the modified Model Y sport utility vehicle (SUV) to customers, its sales in eight of the top ten electric vehicle markets in Europe have still fallen sharply. At the beginning of this year, the production line adjustment of global assembly plants, including Germany, caused the company to lose several weeks of production, making its single-season sales the worst since 2022.

This downward trend continued until April, which shows that although Tesla has optimized its product line, CEO elon musk’s untimely actions and his work for US President Donald Trump are leading to a decline in Tesla’s sales. The CEO has been a senior adviser in the US government, which has launched a global trade war and is rethinking the role of the United States in NATO and other alliances. (Global Market Broadcast)

OpenAI plans to expand the "Stargate" AI project outside the United States.

According to media reports, OpenAI plans to expand its $500 billion US data center project "Stargate" by increasing overseas investment. However, the group did not disclose the details of the financing and implementation of the project. "This investment will exceed our expectations in the United States," said chris rene Hane, vice president of global affairs at OpenAI.

In January this year, Sam Altman, CEO of OpenAI, launched the "Stargate" project at the White House, together with US President Trump, Softbank CEO Masayoshi Son and Oracle Bone Inscriptions boss Larry Ellision. Trump praised the plan to invest $500 billion in the construction of artificial intelligence infrastructure in the United States during his tenure as a "declaration of confidence in the United States." (Global Market Broadcast)

Google set up a film and television production company: to enhance the "cool feeling" of Android among young people

It is reported that recently, Google established a film and television production company named "100 Zeroes", which was inspired by the mathematical term "googol", aiming at young people, creating a positive and desirable image of Google and its products through film and television content, enhancing the "cool feeling" of Android, competing with the Apple brand, and conveying a positive technological impression. Google cooperates with Range Media Partners, and Google provides funds or co-production. (Sanyan Technology)

Leifeng net(WeChat official account: Leifeng. com)

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The updated version of the online WeChat attracts attention to the browsing records of friends circle or is made public as the focus.

  CCTV News:Most users who use smart phones know that all kinds of software and apps often have "system upgrade" or "version update" reminders, which generally do not attract much attention. Recently, a profile picture of a suspected WeChat system update on the Internet has attracted the attention of a large number of users. This picture, titled "Tips for Updating WeChat System 7.0.X", has a LOGO and color matching consistent with WeChat, and is accompanied by a caption, saying, "This update: a friend circle visit function will be added to tell you that he has been here; At the same time, the function of staying in a circle of friends is added to tell you how long he has been here. "

  Two seemingly unremarkable words have caused a lot of discussion among netizens. Netizens who oppose the opening of this function said: "I like the circle of friends without visitor records", and some even said that "if this function is opened, the micro signal will be replaced"; Netizens who agree with the opening of a circle of friends said that such a function can "know who cares about you and who is too lazy to care about you".

  Researcher Zhu Tingshao, Institute of Psychology, Chinese Academy of Sciences:Because from the perspective of the current prediction, if we can get the trajectory information of this person in various circle of friends, we can make a better prediction of some related psychological indicators of this person. That is to say, I can know your situation by seeing the trajectory information of different friends.

  Wechat rumor: the new version does not show the visit record of friends circle.

  In response to the whimsy of netizens, on February 20th, WeChat issued a statement through its official Weibo, saying, "Don’t panic, the pictures circulating on the Internet are fake". The reporter also learned from Tencent that WeChat will protect users’ privacy, and in the new version, the function of recording visitors in the circle of friends has not been added.

  Users cannot cancel the default public browsing records of multiple platforms.

  It is understood that the daily login volume of WeChat platform has reached 1 billion, and massive reading records have become big data of user information. The reason why netizens care about whether the circle of friends will openly browse the trajectory is because they have a "lesson from the past." Through investigation, CCTV reporters found that at present, there are many online platforms with tens of millions of users, and the user browsing records are actively disclosed by the platform.

  QQ space access trajectory is made public, stealth access needs to pay.

  It belongs to the old social platform of Tencent — — QQ has the function of "recording visitors in QQ space". The reporter found that QQ settings did not provide the function of "turning off the feedback of visitors’ records", but provided two charging functions of "visiting his space invisibly" and "hiding his visit records". Users want to browse the yellow diamond members who need to open QQ without trace, and the fee for yellow diamond members is one month in 12 yuan.

  "Nail" is a social Internet platform. Through data collection, the reporter found that only in Apple’s iOS system, the estimated download volume of "Nail" in the past year exceeded 30 million times. The reporter found that in the use environment of group chat, the message posted by users is usually marked with "unread message" feedback information and marked with different colors. For example, several people have not read this message. When the reporter clicks on the word "unread", he can clearly see who is the "unread" message.

  The reporter found that "Nail" clearly stated in its user agreement that "the service content includes technical functions such as unread list of messages, and these functional services may be optimized or modified according to changes in user needs, different service versions, or the unilateral judgment of service providers", but the reporter did not find the option of closing reading records in "Nail". The "nailed" customer service staff also told reporters that the opening of this function is not decided by the user.

  Nail customer service staff:There are "read" and "unread" in this piece. For example, after their boss or our leader sends a message, he can know at a glance which colleagues have read it and which colleagues have not. In this case, if they have read it, they can operate it, and there is no other time to remind you, that is, what information I send you to have a look, that’s what I mean.

  Reporter:If I want to close it, I can’t close it at present, can I?

  Nail customer service staff:This side can’t be closed, sir.

  During the investigation, the reporter found that the user’s reading and browsing tracks were fed back to others without his own consent, which also appeared on the Weibo platform. As a tool for anonymous chatting on the Internet, "Weibo Private Message" has been reported by users that it has brought troubles to the recipients of information because it cannot turn off the read and unread feedback functions of "Private Message". Some netizens even said that this function directly exposed the privacy of whether users log in and browse Weibo. On November 1st, 2018, Weibo Platform announced that it was offline "the read function of private messages in Weibo".

  Hu Gang, Secretary General of internet society of china Research Center:This is actually the difference between traditional telecommunications and the Internet. Telecommunications must be sound, that is to say, I must find out who the other party is, because in our traditional telecommunications environment, the fixed telephone of your phone must clearly know who the other party is, and the telephone company is registered. The Internet or mobile Internet and mobile communication have changed this rule. Generally speaking, the influence of the Internet on personal information should be said to be very great. Therefore, it is very necessary for us to be more alert to this situation in today’s increasingly high awareness of personal information privacy rights.

  Expert: Browsing trajectory is a private platform and should not be ignored.

  Some legal scholars said that at present, the feedback function of users’ reading records in Internet social platforms is similar to the "automatic reply of letters received" in traditional e-mail. The difference lies in whether the reading feedback of e-mail is displayed or not, and its decision rests with the recipient. However, at present, the reading feedback of multiple online social platforms has become the right of the sender, which is not in line with the principle of free choice of users and is also suspected of revealing the privacy of user data.

  Zhu Wei, Deputy Director of Communication Law Research Center of China University of Political Science and Law:The behavior information of web browsing also belongs to the scope of privacy. You must let users choose the exit mechanism and seamless browsing system, and you can’t force users to use their new functions. You can’t expose your trajectory to others without the user’s knowledge, even if this person is your friend. This "read" and "unread" is equivalent to an email receipt, and it should be up to the user to decide whether to open it or not. If the user is deprived of the right to set himself, it is directly mandatory to send a receipt to the other party, which may involve a consumer’s free choice.

  In January this year, the four departments of the Central Network Information Office, the Ministry of Industry and Information Technology, the Ministry of Public Security and the General Administration of Market Supervision jointly issued the "Announcement on the Special Governance of the Illegal Collection and Use of Personal Information by App", clarifying that App operators do not force users to authorize in disguise by default, binding, stopping installation and use, and must not collect and use personal information in violation of laws and regulations and the agreement with users. Some scholars have said that the biggest advantage of the Internet is to eliminate the asymmetry of information, and the asymmetric feedback behavior of the Internet platform on the user’s reading trajectory should also be concerned to avoid becoming a vacuum zone of supervision.

  Hu Gang, Secretary General of internet society of china Research Center:From the consistent logic of the Internet, first of all, I want to record your whole actions, but after recording, you can’t use this data again and then commercialize it and transfer it to others. This is not possible. When an IP address or a friend visited me, what he was interested in, I knew this information, and then I told it to others, for example, without the consent of the relevant obligee, and then this may cause this abuse of personal information. It is not allowed to do so without the consent of others. (CCTV reporter Ma Li)

Who is the restaurant tycoon who married two peerless beauties and had four children at the age of 80?

Original Su Yibai, Miss S Lan and Miss Huang are included in the topic # Celebrity/Vanity Fair 56. The other day, the news about the old artist Liu Shikun becoming a father at the age of 81 was heated, and it was once searched.

▲ The Hong Kong media used the word "breaking the gambling king’s 78-year-old female record" with great loss. In fact, Sun Ying, as Liu Shikun’s third wife, is 45 years old this year, and Sun Ying declined to comment on whether the child is a surrogate.

But what we are going to talk about today is not the pianist, but another successful man who has a strong heart and has a son in his old age. He is 80 years old and has too many labels on his body. He is the celebrity queen, artist, collector, restaurant tycoon and "Muse" ex-husband. He is the founder of MR CHOW restaurant, Zhou Yinghua.

▲ The hairstyle and beard of the logo, as well as the Cutler And Gross full-round handmade black-rimmed glasses that have been followed for decades, are all personal characteristics of Zhou Yinghua.

▲ At the age of 80 in 19 years, he got married for the fourth time, married a wife who was only 30 years old, and gave birth to his youngest son Phoenix. This is the Halloween costume of the 81-year-old and his son who just turned one.

Before, we talked about Jiang Sunyun, a famous family lady who brought authentic Chinese food to the United States, and also talked about her son’s current chain restaurant, P.F. Chang Chinese Restaurant.

Similarly, Zhou Yinghua, as a catering magnate, was born in a noble family.

Father Zhou Xinfang is a generation of Peking Opera masters who started the Qiqi School, and mother is the third young lady of Qiu Tianbao Silver House, which is famous in Shili Foreign Exchange. His elder sister Zhou Caiqin was the first Chinese "bond girl", and his younger sister Zhou Caici was a famous "Tsuga" in Hong Kong entertainment circle. The first wife was grace coddington, the former creative director of American Vogue, and the second wife was Zhou Tianna, the muse in the hearts of countless artists. His daughter, known as "China’s daughter", is keanu reeves’s ex-girlfriend.

The story about their family can be told for three days and nights.

Today, let’s talk about this legendary family and their ups and downs.

Father Zhou Xinfang, whose stage name is Kirin Tong, is the founder of the old Qiqi School of Peking Opera.

▲ Thick eyebrows and big eyes, high nose, even if you get old later (pictured right), you are full of heroic spirit.

Zhou lived in Cicheng, Ningbo, and was a famous local family, but his father, Zhou Weitang, was despised by his people because he was addicted to singing, and then he was expelled from family ancestral temple. Later, she married Xu Guixian of Tsing Yi, who was in the same troupe, and gave birth to Zhou Xinfang.

▲ 一直到周信芳成为了一代名伶,捐出巨款,父子才被宗族重新接纳。

当时在京剧界,有着“北有梅兰芳,南有麒麟童”的美名。

▲ 这正是两位的合照,图左周信芳,图右梅兰芳。

▲ 1949年的开国大典上,他们和当时的文化部长一起在天安门城楼上观礼,足以证明地位之高。

周大师的精湛艺术水平和独到表演风格影响着一代又一代的人。

▲ 比如郭德纲就对麒派艺术痴迷,更奉周大师为偶像,他自己也已经正式拜师入室麒门,而儿子郭麒麟的名字来由也出自于此。

关于周信芳,除了他在艺术上独一无二的造诣外,被广泛谈论的还有他和太太裘丽琳的爱情故事。富家千金和戏子邂逅,为爱私奔,这样的桥段多少年后听起来仍旧深感荡气回肠,而这般义无反顾的个性更是在骨子里深深地影响着周家的每一位后人。

裘丽琳的父亲裘仰山拥有着谦和茶庄与致和钱庄两个产业,家财万贯,而母亲玛丽·罗丝有着一半的苏格兰血统。

▲ 作为四分之一混血的裘丽琳出落得标致水灵,尤其是那精致的小翘鼻,叫人一见倾心。她自小就读于上海法国天主教教会学校,讲着一口流利的英文。原名叫裘宏祯的她后因为英文名Lillian的关系,改名为丽琳。

Miss rich, dressed in fancy clothes, often goes to the most fashionable social gatherings in Shanghai, and Qiu Lilin is a well-deserved socialite.

And Zhou Xinfang, like most people at that time, married his wife and gave birth to a son step by step. At the age of 17, he married his original wife Liu Fengjiao and had a son and two daughters.

A well-loved rich girl since childhood, a "player" with a dull personality and low social status, seems to be two parallel lines intertwined at a certain point in time, doomed to a desperate trip.

One night in 1928, Qiu Lilin escaped from the house locked by her mother and ran to her love.

After the event, Qiu Jiafa announced that she wanted to leave the relationship, and Qiu Lilin was not to be outdone to find a lawyer to make a statement in the newspaper.

▲ This passage was dictated by their youngest daughter, Zhou Caici, in which Qiu Jianfei was Qiu Lilin’s brother. Because he was described as a "rogue villain who destroyed love", he also attracted the dissatisfaction of the descendants of Qiu’s family and felt that the image of his ancestors had been vilified.

It must be said that this love was full of cruel betrayal in the eyes of the original wife and children, and it was deviant in the mouth of the world at that time, but now it has become a romanticism praised by all, largely due to the fact that Qiu Lilin’s children are very competitive and prominent, and they preach their parents’ loyal love everywhere. Even the old Shanghai writer Shu Ting wrote a book for their story, Love Song for Life and Death.

In order to facilitate everyone’s memory, I specially made a family map:

▲ Today, this article focuses on the tycoon and his family. In the next episode, we will talk about the tycoon and his four wives and children (watermarking, drawing by Miss Lan and Miss Huang).

In fact, it was not until Qiu Lilin had given birth to her third child, Zhou Caiqin, that Zhou Xinfang divorced his first wife and formally married her, and the Qiu family finally forgave her.

After that, the two gave birth to three children one after another.

▲ The youngest daughter, Zhou Caici, was not born when this family photo was taken.

Although Qiu Lilin and Zhou Xinfang got married properly, the follow-up test continues.

Zhou Xinfang has a mother who loves gambling and doesn’t know how to earn her due income at the same time. Therefore, under the management system of Bao Yin system, even though he has struggled alone, he has little money.

▲ Zhou Caici, the youngest daughter, said in an interview later that her mother said that there were only various pawn tickets in her father’s pocket.

Qiu Lilin, who grew up in a business family, is very business-minded, and manages everything for her husband. She also took the lead in introducing the form of "73 account splitting" to ensure her husband’s vested interests. Later, they rented a theater by themselves, with Zhou Xinfang in charge of singing and Qiu Lilin in charge of finance, which was called "iron abacus".

▲ Zhou Caiqin, the third daughter, said that her mother even wore a small pistol when she accompanied her father to the north and south, which was really brave and determined.

After liberation, because of Zhou Xinfang’s lofty status, the whole family lived a very superior and affluent life.

▲ In the hearts of children, father is a superstar and the most admired idol.

▲ They live in this garden house located at No.788 Changle Road, Xuhui District, Shanghai, with an area of more than 700 square meters. There are two cars at home, one for Zhou Shaolin, the eldest son, and the other for the driver. There are also two chefs, one for Chinese food and the other for western food.

It is not difficult to find out from the interviews of the descendants of the Zhou family that Zhou Xinfang was taciturn most of the time, unlike most men of that era. In family life, he was the shopkeeper of cutting most of the time, and his mother was solely responsible for everything, including sending the children out of the country one by one without prior notice.

▲ In Zhou Caiqin’s mouth, the father described the mother sending the children away one after another as a "kitten".

It is hard for outsiders to say whether this is keen intuition or foresight for a rainy day. In short, except for Zhou Shaolin, the eldest son, who stayed to inherit his father’s Peking Opera mantle, Zhou’s children are scattered all over the world.

▲ This is the last photo of my family with my father in the 1950s.

At that time, the eldest daughter Caizao had already gone to the United States first, and soon the second daughter Caiyun went to Hong Kong, the third daughter Caiqin and the second son Yinghua went to London, and the youngest daughter Caizi was finally sent to Hong Kong to take refuge in the second sister.

Many years later, they got together again and took this photo:

But times have changed, and everyone’s fate has been turned upside down.

Big sister picking algae has always been the lowest-key one in the family.

There is little information in the public media, except that she lived in Maryland after studying in the United States. She is both a teacher and a housewife, and she is as inarticulate as her father.

▲ When my mother went to London to visit Qin Cai and Yinghua in the 1960s, the elder sister Cai Zao and the second sister Cai Yun also flew across the ocean. The child in the front row is Qin Cai, behind her is algae Cai, and on the far right is Cai Yun.

The second daughter, Cai Yun, looks the most like her mother, and her temperament is fresh. Leng Yan was a stunning beauty in those days.

▲ This photo with her father is not difficult to see that she is worthy of the name as the school flower of St. John’s University.

Sister Zhou Caiqin once described her in The Daughter of Shanghai:

My sister swam proudly past her admirers like a swan, as if unaware of the despair and misery caused by her around her.

Because of her love of literature, she also gave herself a pen name Zhouyi, but she still failed to realize her dream of being a writer after going around.

After going to Hong Kong, Cai Yun worked as a ground worker in an airline to support herself and took care of her little sister, Cai Ci, who came to take refuge. It was not until Xiaomei later went to Macau that she also married an accountant and went across the ocean to the United States to start a business.

▲ Miss Huang wrote this story in her early column "She Comes from the Sea". The most beautiful businesswoman in San Francisco went back to her hometown over 80 years old to fight with a group of relatives for the ancestral home mentioned above. The relatives here refer to the daughter and son-in-law of her younger brother Zhou Shaolin, who are really gods.

Speaking of Zhou Shaolin, his real name was Zhou Ju ‘ao, and later changed to Shao Lin, who also inherited his father’s good name "Kirin Tong".

▲ Zhou Xinfang actually didn’t intend to let his son learn opera, but hoped that he would study hard, but he couldn’t hold Zhou Shaolin’s strong interest in Peking Opera. At the age of 20, he didn’t drop out of school until he was married, and even separated for two years to practice.

In terms of appearance, Zhou Shaolin must be handsome, and his younger sister Zhou Caici described him as "Fan Liuyuan in Zhang Ailing’s works, even Chow Yun Fat has to compete".

▲ This is a photo of Zhou Shaolin, his wife Huang Minzhen, and his two daughters Zhou Yilin, Zhou Chang and grandparents.

▲ Zhou Shaolin, who experienced political turmoil and was rehabilitated, immigrated to the United States in the 1980 s, but still wanted to carry forward his father’s Qipai art. Therefore, with the support of his younger brother Zhou Yinghua, he once boarded the stage of Lincoln Center to perform traditional Peking Opera, and he was still thinking about teaching and inheriting culture. (This passage is written by his daughter Zhou Yilin)

▲ This is "Chasing Han Xin", which he performed as a cantata when he returned to China in 1985. At that time, he was over 50 years old and still heroic.

▲ In 2001, at the age of 67, he returned to his hometown of Shanghai to collect disciples and write books, and taught them orally until he died of heart failure in 2010.

As for the youngest daughter, Zhou Caici, the famous "Tsu Gu" in Hong Kong entertainment circle.

Miss Huang once wrote an interview with her in The Best Woman:

On this day, I met the long-admired Miss Zhou Jiasi in the lobby corridor of Waldorf Astoria Hotel rebuilt by Shanghai General Association. When she walked slowly through the lobby with her hands behind her back, she looked like a ten-queen patrol. When she stood, she walked in a majestic gait, and when she sat, her eyes shone brightly.

When Zhou Caici was born, her father was in his early fifties. As a 7-year-old younger brother Yinghua, she was naturally loved since childhood.

▲ Wearing a princess dress image, my mother will help with my homework, and my father will personally send her to school. Zhou Caici proudly said that she was the only child in the family who had enjoyed the honor of being sent to school by her father.

However, after her mother cruelly sent her to Hong Kong in 1959, these proud pasts seemed to have become memories. I have to work to earn money under the fence, and there is nowhere to resolve my yearning for home. She once ran back halfway and was cruelly urged to leave by her parents. After that, it was farewell.

▲ Many years later, every time she mentioned her parents, she could not help but burst into tears.

▲ She was also the only child in the whole family who came back to attend her father’s memorial service.

Perhaps she loves freedom as she pleases. In the late 1960s, she went to Europe alone and happened to meet her brother Zhou Yinghua who came to Rome for a holiday in a restaurant where she worked. After 14 years’ separation, the brother and sister met again. The elder brother didn’t know his grown-up sister at all, but the encounter finally made Zetz no longer a wandering duckweed. She followed her brother to London and stayed for ten years.

At the end of 1970s, she returned to Hong Kong and started her white-collar career. She entered a TV station in Lili. The most glorious achievement was Leslie Cheung, who just started her career as a packer. Later, she became a press officer of the government information department and worked with Yi Shu to do propaganda.

▲ In the 1980s, she also wrote essays in Extra Magazine under the pseudonym "Pigeon with White Eyes", with sharp words. Pigeon with White Eyes means snob in Cantonese.

As for the love story, Zhou Caici is also a standard Zhou family, who is desperate for love.

There was little information about her first marriage, except that she had a daughter named Lin Chuqi, who entered the music scene after winning the third place in the rookie singing contest held by wireless.

▲ Lin Chuqi was born in 1964, so when she was born in Zhou Caici, she was only 18 years old, so she should have started to go to Hongkong and Macau.

▲ Lin Chuqi’s most famous title is "the widow" of Ka Kui Wong, and when he came back many years later, he said that he would "comb up and not marry" for Jiaju.

▲ However, this statement clearly angered Huang’s family. My younger brother Huang Jiaqiang bluntly said that she was sorry for Ka-kui in the past. After the two broke up, Ka-kui had other girlfriends, accusing her of speculating on the deceased with ulterior motives.

There are quite a few reports about Zhou Caici’s second marriage. The sister-in-law relationship, which is ten years apart, and whether to get married immediately or naked after ten days of love all seem to convey to the world her obsession of loving as a mother.

▲ Husband Huang Yihao (pictured right) is a member of the Hong Kong Repertory Theatre. The two became attached to the stage play and gave birth to two children, daughter Huang Yongzhen and son Huang Jingxuan.

▲ Although it is a flash marriage, the relationship between husband and wife is good, and it has been accompanied by old age.

▲ Zhou Caici has her own unique dressing style. She is overweight, so most of her clothes are made to order. In her own words, "I can’t see the brand of everything I use". In order to confirm this, she also took off her shoes in an interview to let Miss Huang see the golden H with a big sole, and said, "It is very low-key anyway."

In 2003, after wandering for half a lifetime, she chose to return to Shanghai to settle down, living not far from her ancestral home, as if she had been with her parents all the time when she was a child. In 2012, she introduced May Ball and wanted to create a high-level social circle belonging to China.

▲ She can see the iconic bobo head and stand on the side of the stage in a cloak to guide the carefully selected celebrities.

Unfortunately, with her sudden death in 2016, this dream of recreating the old high-end social life also went with her.

▲ According to the article Farewell Vivian published by her friend Deng Xiaoyu in September, 16, she left because of complications caused by minor surgery, which was very sudden and chic.

After talking about these four children, let’s focus on the third daughter Zhou Caiqin and the second son Zhou Yinghua.

Why put these two together? Because their lives in the first few decades were intertwined, with the support of their families and the hidden competition, so that the scene became out of control at the end.

50s and 60s

In 1951, 16-year-old Zhou Caiqin took his younger brother Zhou Yinghua, who was three years younger, from Shanghai to Hongkong and then to England. She attended the Royal Academy of Drama and became the first China student there, while her younger brother was sent to a public boarding school. For Zhou Caiqin, life just left her parents is chaotic, and she has to take care of her younger brother like a half-mother.

She is gorgeous and moving, and everywhere she goes, she is fascinated. And the loneliness of wandering away from parents in a foreign land can easily lead to the mistake of being carried away by love.

Yes Like her sister Zhou Caici, she got pregnant at the age of 18 and gave birth to a baby.

▲ It is not difficult to see that the other party is handsome and handsome.

▲ So that she later said to the camera in the documentary "Daughter of Shanghai", "I liked handsome men when I was young, Never Again".

But obviously, at that time, she underestimated the various contradictions in reality, and not all marriages would be as firm as their parents.

▲ For example, the husband doesn’t intend to show his wife’s face, which is tantamount to a strong self-awareness of Qin picking.

▲ In the words of a close friend who knew her at that time, Cai Qin’s attitude towards men was full of antagonism, even if she was a lover, she had to compete. This personality also appeared in her later relationship with her younger brother Yinghua.

The first marriage soon parted ways, and the man returned to Singapore, leaving her alone in London with a starving baby.

▲ But for Qin Cai, this may be the closest moment to her son in her life.

With the increasing economic pressure and the ardent expectations of her parents in China, she had to face up to her derailed life again. First, she sent her son to a distant nursery because it was cheap, then she went back to school herself, and finally she simply sent her son back to her ex-husband.

For such a decision, sadness is definitely sad. But what should I do? Life forced her to be only 20 years old at that time. To support herself, she had to live up to her parents’ expectations and face the ubiquitous racial discrimination in foreign countries. It was difficult for a face of china to gain a foothold in the film and television circle at that time, and most of the roles she could get were full of prejudice against Chinese. She changed her external name from Irene Chow at the beginning to Tsai Chin pronounced in Chinese.

Soon, she met her second husband, Peter Leonard Coe, a drama director and a handsome guy, and they got married in 1958.

▲ How long did this marriage last? There is no clear answer, but in 1962, the man remarried, so it is speculated that the relationship between the two ended in 1961.

Compared with the dark time in the first paragraph, this marriage has finally brought infinite light.

▲ In 1959, Cai Qin was selected as the heroine of the drama "The World of Suzy Yellow" adapted from a British writer’s novel, and boarded the stage of the Prince of Wales Theatre, which made her famous for a while. And her husband, Peter, also served as the director of this drama, which is entirely due to himself in Qin Cai’s mouth.

▲ She said that she brought a wave to London at that time. Cheongsam, black hair and even makeup were all imitated, full of foreigners’ yearning for the mysterious East.

As a matter of fact, of course she is hot, but the Hollywood movie The World of Suzie Huang, which was released the next year, designated the heroine as another actress who went to the United States from Hong Kong, Nancy Kwan, and the latter also became a person who really took the role of Suzie Wong with fire in the world.

▲ Those popular fashion trends also seem to be attributed to her.

But for picking Qin, after years of struggle, it has finally become a minor celebrity, and it is more or less a bit high.

▲ Her name is on the tallest neon in London.

▲ She was surrounded by people and accepted the cheers. In fact, this subtitle is misleading. She won the best dress of the year, not the woman of the year.

However, in London at that time, even with a certain popularity, there were still only a handful of roles to choose from, either prostitutes or foreigners misinterpreted Chinese.

▲ For example, from 1965 to 1969, she acted in five Fu Manchu films, which was considered as a serious slander on Chinese’s image.

▲ In this regard, her own explanation is that she doesn’t want to pick it up either, but in order to survive.

In 1967, she became the first Chinese bond girl.

▲ Kissing sean connery in "Thunder Valley of 007" is only a honey trap implementer who seduces the hero.

She made records and performed in Cabaret (a restaurant with stage performances), and no matter how famous she was, she earned a lot of money.

If the first twenty years in London, Qin Cai finally settled down after hardships, so did his younger brother Zhou Yinghua.

After graduating from boarding school, he was admitted to the famous St. Martin. He studied art for one year and architecture for two years.

▲ After graduating from St. Martin, he painstakingly studied painting for ten years and met a large number of later masters, but he had to admit that he could not stand as expected.

At that time, Zhou Yinghua had an actor’s dream, and he made guest appearances in several movies with his sister.

▲ For example, brother and sister appeared together in Violent Playground in 1958.

▲ He also appeared in "Thunder Valley of 007", playing agent No.4 without a name.

But obviously these can’t support themselves. He used to be an apartment manager, lived in the basement and worked at night in a restaurant.

In 1965, Zhou Yinghua finally saved enough money to open a hairdressing salon, Smith and Hawes, and his unique interior decoration style attracted wide attention at that time. Later, he sold the shop to Leonard of Mayfair, a famous hair stylist.

▲ The other party is the legendary hairdresser who helped model Twiggy (Twiggy) cut out the world-famous bobo head, making her playful short hair become the object of emulation.

After selling the store, Zhou Yinghua took a large sum of money and specially invited a chef from Hongkong to cook exquisite Chinese food. On Valentine’s Day in 1968, his first MR CHOW opened.

▲ European-style environment with handsome Italian waiter, the Chinese food he wants to provide is more like a high-end improved version that has been integrated into local culture, and Chow has the meaning of "food" in English besides Zhou’s surname. This shop in Knightsbridge is still in business after half a century.

It was also from then on that the lives of the two brothers and sisters began to move towards different trajectories.

70 s

My younger brother took the money to open a shop and start a business, earning a lot of money, while my sister bought a house with it all. In fact, Qin Cai doesn’t know anything about financial management. He just wants to take advantage of the general trend to invest and increase value. As a result, the house he bought was actually mortgaged by others.

In the 1970s, the financial crisis in Britain caused her property to be worthless or even deducted. When you are over forty, you suddenly have to face nothing. At the same time, the news of mother’s death reached London. The actress who once smiled like a flower on the stage completely collapsed. Great mental pressure made her try to commit suicide and was sent to a mental hospital.

▲ She refused to weave baskets there, because if she did, she would admit that she had a problem.

Fortunately, she was not alone at that time.

▲ There are still admirers who are willing to accompany her all the time, although they are not married in the end.

In 1974, my brother Zhou Yinghua had already opened the restaurant to LA. Qin Cai also followed, giving up all his glory in London and heading for a new beginning.

But obviously, a female star who used to be above herself was doomed to be full of contradictions when she faced a rich man who was in the limelight, even if she was a brother and sister.

Cai Qin believes that the influence and achievements of his brother’s restaurant can be attributed to his reputation at that time. It is by her popularity that she brought a group of suitors to the restaurant for dinner, which made MR CHOW famous.

Although in the eyes of others, this is obviously her obsession, and even a little bit of jealousy between siblings.

Her new life in America is not happy. In her own words, she brought up her younger brother, and they lived alone and acted together. Now he has made a name for himself, but he can only work as a waiter in a restaurant and suffer severe humiliation.

▲ From many interviews, it is not difficult to find that my younger brother Yinghua is a "control freak" who is extremely pursuing perfectionism and approaching paranoia, while Cai Qin is a standard egoist. In this process, the two brothers and sisters are simply pointing fingers at each other.

Finally, one day, unbearable, she chose to leave.

▲ She said that the younger brother’s face was white at that time. This sentence "He thought he had me" somewhat exposed the embarrassment of the two brothers and sisters.

In 1976, Qin Cai went to Boston. The female star who holds the moon for a living applied for a typist, and then worked as a library front desk at Harvard University, but fortunately, the actress dream in her heart never went out, which supported her to go on little by little.

▲ Even if I can never reach my father’s height, I am still guided by a beam of light.

She began to perform in those little-known theaters.

▲ For example, play Clytemnestra in Agamemnon and play the heroine Hester Prynne in The Scarlet Letter. For her, those glories in London yesterday are unknown, and now every step of her life is new.

▲ I also completed my master’s degree at Tufts University.

In Zhou Yinghua in the late 1970s, business was in full swing, and the second MR CHOW in the United States was opened on 57th Street in new york.

It is said that at that time, Mr. and Mrs. Zhou took a message to him and wanted to find his sister to pick Qin back, but apparently because of their estrangement, his younger brother did not convey the matter.

After the 1980s.

In 1981, Cai Qin was finally invited back to the Central Academy of Drama to teach for half a year.

▲ When she mentioned the picture invited back by Cao Yu, her excitement was beyond words. It must be that people lose everything in middle age, and such affirmation is very important to her.

▲ In 1981, the Guardian specially wrote about her remodeling process, from a sexy little wildcat to a truly mature drama expert.

In 1988, she published her autobiography "Daughter of Shanghai", which aroused widespread concern and then returned to the stage of drama in London.

▲ You can take a closer look at the style of her interview at that time. She is still fashionable and fashionable in her early 50 s, and she can’t see her age at all.

In 1993, Cai Qin’s role as Aunt Lindo in The Joy Luck Club left a deep impression on people.

After that, she turned her focus to Hollywood. Although they are all unknown bit part, they seem to be full of it.

▲ In Memoirs of a Geisha, she was soaked to the skin and tied the first peach played by Gong Li with a stick from behind.

▲ In Grey’s Intern, she is Yang’s mother played by Wu Shanzhuo.

▲ She is Li’s grandmother played by Jay Chou in "Amazing Thieves 2".

▲ There is also Jia Mu in the new version of A Dream of Red Mansions, which is one of her rare domestic works. This 50-episode TV series has been filmed for a whole year, but its reputation is not as good as expected.

In her home in Los Angeles, it is a great honor for her to collect newspaper clippings from her debut to the present, and it is a symbol of the glorious past.

Don’t regret that she is not as good as yesterday. In her words, at least she has newspaper clippings, at least she was brilliant.

In fact, after watching all kinds of documentaries and interviews, I will sincerely feel the tearing feeling of the Zhou family, which is sensitive and fragile.

They have the pride of being pampered.

▲ The father who is worshipped high above is a well-organized mother, and those genes engraved in the bones are their glory.

However, because they have been away from home for a long time, the locals simply don’t know who their father is who they regard as a "superstar". Coupled with the general environment in the 1950s and 1960s, a standard face of china spoke English fluently, and only they knew the cold shoulder and hardships.

▲ Zhou Caiqin said that she was refused rent by the local landlord just because she was from Chinese.

Later, even if they have made small achievements in their respective fields, they will never catch up with their fathers, and they will never let the family repeat yesterday’s glory.

▲ There is no sadness that I can respect my parents’ bedside and say a few more words to my father.

▲ As long as the Zhou sisters talk about their parents’ past events, it is like putting a knife in their hearts.

Born in a lofty artistic family, every child is extremely self-centered and doomed to be lonely, so it is difficult for them to get along with others.

▲ Zhou Caiqin is difficult to get along with, not only with men, but also with his younger brother Yinghua and his son.

▲ In the words of onlookers, the son is like a thorn in her eye, and the relationship between the two sides is on thin ice.

They are angular, because of their experience, their extreme distrust of the outside world and their self-protection.

They use toughness as a disguise to hide their inner uneasiness. Even though they are full of desperate impulses for love, they also take their parents’ love as a model for the rest of their lives, but they often hurt themselves in the actual relationship.

Because of this toughness, the relationship between the six of them as blood relatives is also very alienated.

▲ They are scattered all over the world, have their own lives and rarely reunite.

▲ This rare photo should have been taken in 1995, when my father Zhou Xinfang’s ashes were moved to the site of Shanghai Wanguo Celebrity Cemetery.

They will be consistent with each other for conflicts of interest, and they have also embarrassed each other.

In 1983, Zhou Xinfang’s three children born by his ex-wife fought with Qiu Lilin’s six children, and the latter won the ownership of the three-story house, and the nine children were divided into calligraphy and painting relics and other furnishings. However, in 2004, the five brothers and sisters living abroad also had a fight with Zhou Shaolin over the house.

▲ The elderly Zhou Shaolin went to court with the help of his wife, and went to court with the same ancient brothers and sisters. The final verdict is that Zhou Shaolin and his wife account for 40%, and the other five brothers and sisters account for 60%. I don’t know how my parents who are alive in heaven will feel when they see this scene.

What an emotional family!

Of course, we still left one, that is, Zhou Yinghua, the protagonist of this article, whose life story is really bizarre. In his life, he married two legendary beauties, went through four marriages and had four children, as well as a prosperous career and a mansion like a private museum. We will continue his magical experience in the next issue.

Original title: "Vanity Fair || What is the restaurant tycoon who married two peerless beauties at the age of 80 and had four children? 》

Read the original text

Why can shallow social intercourse cure young people?

  With the "partner", we are no longer an island in the city.

  The "partner" is on fire again. It seems that many young people need to do everything now, and for them, "everything can be done" and "they don’t want to go to the toilet/eat in the company without a partner".

  Why is "partner" so important?

  Everything can be built, and when it is finished, it will be scattered: shallow socialization and weak relationship

  Netizens joked that "partners" are "friends in the vertical segmentation field", but in fact, the relationship between "partners" is often weaker than that of friends.

  Mark granovetter, the former head of sociology department of Stanford University in the United States, has done research in the field of social networks for decades. In his article The Power of Weak Relationships, he used four indicators to measure the strength of interpersonal relationships: the length of time, the intensity of emotions, the degree of intimate trust and the degree of reciprocal behavior.

  Unlike friends who need to "meet people for a long time", "partners" don’t need to get along for a long time and interact with each other frequently. Say hello on the way to add WeChat and become a "hiking partner"; You can form a team of teammates with a greeting in the game group and become a "game partner"; Sharing snacks with colleagues on the first day of joining a new company can become a "lunch partner" at lunch time. However, after the companion activity, everyone almost lost contact and no longer got along and interacted.

  We will trust our friends and have emotional connection with them in all aspects, while "partners" are only close when they are partners. Think about it, if the "hiking partner" tells you how much he can’t let go of his ex after falling out of love after returning home, you may feel "a little strange"; Or "game partners" borrow money from you, and that’s probably because they met a liar.

  Similarly, we will always help our friends, but the reciprocal behavior with "partners" usually only occurs in partner activities, or in things that don’t take much effort. For example, helping friends move and eating at home sounds normal; It may be ok to help the "lunch partner" find the snack link he bought. If it is to help take care of pets during the Chinese New Year, it will be a bit "out of bounds".

  In short, we can see that the relationship between "partners" is generally weaker than that of friends in the above four aspects, and the social interaction between "partners" is a shallow social interaction.

  Providing information, focusing on companionship: social support in shallow social interaction

  Shallow social and weak relationships sound like there is no way to give us too strong support, but why is this kind of social relationship still desirable?

  Because there are many kinds of social support, shallow social support can also play an important role.

  Psychologists divide the social support we get from interpersonal relationships into four categories: emotional support, that is, caring, accepting emotions and verbal comfort; Physical comfort, such as a pat and a hug; Suggest support, such as providing information, information, or giving advice directly; Material support may be money or other tangible things.

  Although friends can give us a lot of emotional support, physical comfort and even material support, shallow social interaction and weak relationships can often provide more information than friends, which will produce great value at a specific time. Granovett believes that shallow social relationships and weak relationships are widely distributed, so they are more likely to serve as bridges across social boundaries. For example, "hiking partners" and "playing partners" may be distributed in all walks of life. If we want to find a new job, the information and opportunities we get from them will be more and more useful than those we get from our friends.

  This kind of support is especially useful for young people with unsafe attachment types. According to a study by American psychologists, people with alienated attachment types, that is, those who think that there is no way or need to get close to others in intimate relationships, will prefer specific advice support to emotional support. Therefore, for them, shallow socialization may be more comfortable.

  In addition, no matter what kind of concrete support we can get from shallow social interaction, it is actually very important to think that "partners" can support ourselves. Psychological research has found that people’s perceived support is a more effective factor affecting relationship satisfaction and life satisfaction than the amount of objective and actual assistance. Therefore, everyone will say that "taking a partner" means "focusing on a companion". Even if two people don’t chat when eating, having a "lunch partner" will make people feel that "I am not alone", thus making it easier to wait in line for hot meals or take-out in the company. Even if two people are "good" and have a "game partner", people will feel more confident and will not be too wronged when they are abused or even ridiculed by their opponents.

  In fact, as more and more young people flock to big cities, such shallow social activities will become more and more common. According to the research on residential mobility, people with high mobility will adopt friendship division strategy more when they grow up, that is, they will do specific things with different friends, such as turning friends into "partners" in different activities. Young people living in big cities are often faced with moving and job-hopping, and they are too far away from their friends. In the past, the mode of meeting friends every day is no longer applicable, so on the one hand, everyone will look for new "partners", on the other hand, they will regard their old friends as "partners" for different activities.

  With the "partner", we are no longer an island in the city. No matter how social you are, I wish you always get enough information and good company.

  (Yin Jinxiu)

The data says | The big data portrait of China fans is coming, and Shandong football is super enterprising.

What is the hottest this winter?
In 2022 FIFA World Cup Qatar 2022, there will be 8 world-class stadiums, 32 teams and 64 peak matches. The Argentine team and the French team will compete for the World Cup in the final. Nowadays, on the major social platforms, the atmosphere of the competition has been "full", and topics about fans, such as "Is anyone in charge of the mental state of fans", have also been frequently searched. Every World Cup, China fans are more nervous than the players and coaches on the field. The favorite team can be happy all day if it wins, and will be angry if it loses.
Recently, fastdata, a big data intelligent analysis platform, released a data, saying that the number of fans in China is as high as 289 million, making it one of the most important markets for football marketing in the world. China has a population of 1.4 billion, in other words, about one in five people in China is a football fan. What can be found in the portrait of this huge group of fans? Let’s talk about China fans through the data.
The status of football as the most popular sport in the world is indisputable. The global appeal of football is not only to attract the interest of fans all over the world: from sponsorship to broadcasting, from club ownership to the value of major stars, the influence of football is universal. According to the Report on the Marketing Value of Football Fans in China in 2022, football accounts for 43% of the penetration rate of the world’s major ball sports fans. According to the data, there are 3.46 billion football fans in the world, of which about 289 million are from China. In other words, one in every 11 fans in the world is a China fan.
There is no insurmountable gap between football and life. What are the standards for becoming a football fan in China?
According to the data of the platform, male fans in China account for nearly 90%. In terms of age, fans aged 25-34 account for the highest proportion, accounting for 41.5%; In terms of academic qualifications, the proportion of undergraduate and above fans reached 66%, and the overall education level was high; In terms of marriage, the proportion of unmarried fans is high, accounting for more than 60%.
With the help of data, we can know that the proportion of male senior fans in China is higher as a whole; The age is concentrated under 34 years old, and most of them are distributed in first-and second-tier cities. The academic qualifications of senior fans are concentrated in undergraduate courses; Personal monthly income is between 20,000 and 30,000, and the average personal monthly income is 107.661 million yuan.
How do China fans with high diplomas and high incomes perform in terms of spending power? According to the research results of iResearch, Nike and Adidas are the most popular brands among fans in China, while domestic brands Li Ning and Anta are becoming the hot spots of fans’ attention. About 60% of China football fans spend 500-3000 yuan on shoes/clothes/hats every year, with an average annual consumption of 2105.4 yuan.
According to public reports, Qatar released data that China fans bought 7,000 tickets during the World Cup. Fans who haven’t gone abroad are equally enthusiastic, squatting in front of the TV every day to CALL their favorite team stars.
Recently, the consumption related to watching football can be described as "bursting".
According to the data of the US Mission, on the opening day of the World Cup, the order for snack take-out increased by 55% month-on-month and the fruit increased by 35% month-on-month. Among them, melon seeds increased by 69%, French fries by 62%, peanuts by 35% and nuts by 32%.
Of course, watching the ball is inseparable from drinking, and many e-commerce platforms have higher sales of beer and fruit wine. According to the data of Vipshop, the sales of beer have increased by 150% since November. There are still many young fans who favor fruit wine. During the same period, the sales of fruit wine increased nearly four times year-on-year.
In addition, the sales of related categories such as football wear increased by 75% compared with last year. Among them, the sales of brands such as Clover and JOMA increased particularly rapidly, with the growth rates reaching 339% and 112% respectively.
Thus, the consumption potential of China fans is rampant! From analyzing the situation, buying sports lottery tickets to buying goods related to watching football, I am immersed in the upsurge of the World Cup, and my sense of participation is very high.
What are the fans watching about football?
Football players are one of the global stars who lead the trend on platforms such as Facebook and Twitter. A large number of followers on the platform directly increase the value that players bring to partner brands and teams, competitions, charities and other organizations.
Social media provides a powerful platform for sports stars and other celebrities to build personal brand value. The data shows that as of July 2022, C Ronaldo’s social media operation ability is significantly stronger than other players, and he has the most fans on Facebook, Twitter and other platforms.
Cristiano Ronaldo is still the most popular star in China. By December 14th, 2022, the number of fans of Cristiano Ronaldo in Weibo reached 8.391 million, and the number of related topics read exceeded 5 billion. According to the research results of iResearch, the foreign stars that fans are most concerned about are Cristiano Ronaldo, Lionel Messi, Mbappé, Harland and lewandowski. In terms of domestic stars, Lei Wu has become the most popular local star for his outstanding performance in La Liga.
Football is becoming more and more successful in business every year. It may be the sport with the most cash flow in the world and has become one of the most profitable sports industries in the world. A huge fan base is the foundation of players’ commercial value. Mbappé, a French international, topped the list of 2022 footballers’ income published by Forbes magazine in October with US$ 128 million, surpassing Messi and Cristiano Ronaldo to become the highest-paid footballer in football.
What can you find by focusing on Shandong?
The data shows that this year, fans in China, FIFA World Cup Qatar 2022 have the highest frequency of watching several games per week, reaching 27%. The huge fan base has contributed a lot to the promotion of sports industry’s contribution to GDP. Little known is that Shandong people’s football dedication has been strong for thousands of years.
As early as more than 2300 years ago, Shandong people began to explore the cause of football. In Linzi, the capital of Qi State during the Warring States Period, cuju has developed into a popular form of entertainment among the people. Biography of Historical Records of Su Qin records: "Linzi is very rich and real, and all its people are those who play the flute, drum instruments, percussion, playing the piano, fighting cocks, walking dogs, playing six blogs and kneeling."
Shandong Taishan Football Club, referred to as Taishan Team for short, takes Jinan Olympic Sports Center Stadium as its main venue and is now competing in the Chinese Football Association Super League.
In 2005, the world’s first professional football museum, which comprehensively displays the evolution history of China football for thousands of years and the development style of world football, was officially opened in Linzi, Zibo, the birthplace of world football.
In 2017, the General Office of Shandong Provincial Government issued the Implementation Plan for Football Reform and Development in Shandong Province. The plan proposes measures such as building a four-level campus league tournament and creating a "Lu Chao" brand event.
In 2018, Shandong Campus Football Association (SCFA) was established.
The wonderful thing about Shandong football "Foot" is that there are so many talented people. Why can Shandong football be so talented and become the backbone of China football? The answer lies in the high-level football youth training system.
According to the data of "Shandong Campus Football Characteristic Schools Directory" issued by Shandong Provincial Department of Education, there were 317, 264 and 410 campus football characteristic schools in Shandong Province in 2015, 2016 and 2017 respectively.
Some netizens called the Provincial Sports Center Stadium a holy place for Shandong fans, and publicly reported that Rizhao Football Center, the first professional football field in Shandong Province, will soon be put into use.
In this FIFA World Cup Qatar 2022, Shandong elements can be seen everywhere inside and outside the stadium.
Hisense, which is "the first in China and the second in the world", has sponsored four consecutive top sports football events.
Qingdao Wandelong Textile Technology Co., Ltd., which has provided flag products for seven consecutive World Cups, can provide tens of millions of flags. Since March this year, millions of flags, large and small, have set off from here and finally flew over Qatar.
Cuju from Zibo, the birthplace of football, was warmly welcomed by Qatari local players and coaches, who personally experienced Cuju culture.
With the smooth performance of the World Cup, the football DNA of Shandong people moved.
In Yantai, Shandong Province, a woman made noodles into a football cake, with 32 pieces of leather.
Wang Yanbao, a fan of Jinan, Shandong Province, drew the FIFA World Cup Qatar 2022 mascot Raib in a 7 mm snuff bottle.
"Grandpa A Mu" in Liaocheng, Shandong Province is once again popular because of tenon-mortise football.
Regarding football, the dedication of Shandong fans is really super!
If you need to reprint or quote this article, please indicate the source.
Planning: Dai Lingling
Coordinator: Zhao Xiaoju
Data/Copy: Liu Lanhui
Design: Zhu Qianqian
Produced by Volkswagen Daily Data News Studio
Reporting/feedback

"Sword Rain" and "Painted Skin" use dance as a weapon, and Li Zonghan changes his face and combines civil and military


Li Zonghan plays Lu Zhu

    In the golden autumn of October, Li Zonghan was busy non-stop. He played the key role in the box office of John Woo, Su Zhaobin’s martial arts masterpiece, and the 11th National Day, and the wonderful monk "Lu Zhu", led the new version of the TV series, took over Donnie Yen to create the sentimental general "Pang Yong", dubbed the late stage of the movie "Guan Yunchang", and the TV series "Southern City Hate" was a hit… Successful "face-changing" in several big plays, Li Zonghan from the period drama Xiaosheng to the martial arts star who challenged Donnie Yen twice, wanting to be a synthesis of both civil and military.

    "Sword Rain" takes Michelle Yeoh’s face-changing (completely changing her previous appearance after transfiguration) as a watershed, and the change of appearance also makes a major change in the fate of the protagonist. Li Zonghan, who has an emotional entanglement with Michelle Yeoh in the film, also learns from the "big sister of the martial arts" outside the play, and plays a double "face-changing".

Face change 1: Neat and short hair, a new departure, full of mature male charm 

    Changed the hairstyle that has been retained for many years, and matched the role of "Lu Zhu" in "Sword Rain" with a new image. Audiences who are familiar with Li Zonghan must have fresh memories of the styling in many hit dramas such as "Wutong Rain", "Spring Returns" and "Thirty Years After Marriage". Known as the "Mistress Killer", he has been appearing in many works for many years with fresh and capable short hair. Although the roles are different, the hairstyle that matches his temperament has always been retained.

    This time, at the invitation of director John Woo, he starred in the wonderful monk "Lu Zhu" with hair practice. Li Zonghan decided to cut his short hair shorter, and the subtle changes brought a new image. The neat short hair showed his angular features, showing the charm of a mature man.

Face-changing 2: Three major plays explore martial arts talent, and expand the road of drama with both civil and military skills

    2010 can be called another fork in the road of Li Zonghan’s ten-year acting career. Speaking with his works, he has a place in the TV drama field for the first time to touch the big screen. In "Sword Rain", he showed the elegant and free, Zen-like martial arts skills. Zhuang Wenqiang and Mai Zhaohui met Donnie Yen unrestrained in the film "Guan Yunchang". Years of dance foundation have enabled him to successfully transform from a period drama student to a capable and capable amphibious star, opening up a wider sky for his acting career.

    "Not only the literary drama is touching, but the martial arts are also so wonderful" has become the consensus of many senior film critics and media people for Li Zonghan. After the double polishing of the two major dramas "Sword Rain" and "Guan Yunchang", Chan Ka-shang, the Hong Kong gold-medal director who directed the movie "Painted Skin", was invited to lead the new TV series "Painted Skin". Li Zonghan revealed that "Pang Yong" has a bumpy love road and has a multi-faceted personality. As a synthesis of "Lu Zhu" and "Donnie Yen", there are many things to watch. And he will also have more opportunities to challenge high-difficulty fighting dramas, show his martial arts in the imaginative fantasy world, and "play" more surprises.

Explain "zero carbon finance" in detail: how to participate in global governance? What are the pain points to be solved?

With the full implementation of carbon neutrality, the financial industry has entered the era of zero-carbon finance.

On May 21st, at the 2023 Wudaokou Global Finance Forum in Tsinghua, Zhu Min, former vice president of the International Monetary Fund and former vice president of the People’s Bank of China, once again emphasized his concern about zero-carbon finance. He proposed that as finance entered zero-carbon finance, the cooperation and competition of global zero-carbon finance had begun. China has been leading the world in the field of green finance, and zero-carbon finance is also ahead. Therefore, we should continue to actively participate in the construction of global governance mechanism of zero-carbon finance, and promote the further reform and opening up of China’s financial industry in the construction of global governance mechanism.

So, what exactly is zero carbon finance? What attempts have China made in the field of zero-carbon finance? How to participate in global governance? What are the pain points to be solved? Beijing business today reporter integrated the discussions of many authoritative figures and made a detailed interpretation in one article.

Concept: The financial industry has entered a zero-carbon era.

"With the rapid landing of carbon neutrality and global development, finance has entered the era of zero-carbon finance, which is a very important financial industry upheaval." Zhu Min emphasized at the meeting.

From early gas finance to sustainable finance, green finance to zero-carbon finance, Zhu Min pointed out that zero-carbon finance covers many concepts horizontally, and its depth can be measured and defined, because it directly serves the real economy, conforms to carbon neutrality, and the corresponding assets are very clear. Therefore, at the Glasgow meeting, everyone basically formed a consensus that the financial industry should begin to enter the zero-carbon era.

Nowadays, zero-carbon finance includes a series of concepts. First, the financial industry should finance carbon neutrality, which is the first concept. According to Zhu Min, it is estimated that China’s financing volume will be about 180 trillion yuan by 2050, and McKinsey Consulting recently said that the global financing volume will be 9.7 trillion dollars per year. According to the proportion of China’s emissions, China will need 3 trillion dollars a year, which is about 20 trillion yuan. This scale is undoubtedly huge.

At the same time, zero carbon should serve the transformation, because the change of carbon price, all financial prices and all balance sheets, including stocks, is also a huge challenge.

In addition, the financial industry itself should regard itself as a zero-carbon enterprise, that is to say, the balance sheet of financial enterprises is zero-carbon, that is, the financing liabilities are zero-carbon and the operation is zero-carbon, which is actually a very high requirement, and thus a global zero-carbon financial enterprise alliance has been established. Generally speaking, Zhu Min believes that "the concept of zero-carbon finance is taking shape, which has rich connotation, broad coverage and depth, and it is a very important sign that finance has entered the era of zero-carbon finance".

Trend: Cooperation and competition have begun.

The global road to zero carbon emissions is accelerating further. Zhu Min also pointed out that finance must be global, and the cooperation and competition of global zero-carbon finance has also begun.

The first is the standard, which is to make global unified and sustainable financial disclosure. Zhu Min said that there are various standards on financial disclosure, and each place has its own standards and requirements, and it is also competing and cooperating with each other. If the world wants to support carbon neutrality, zero-carbon finance also faces a huge funding gap.

Zhu Min further revealed, "For example, at this meeting in Egypt, what was discussed most was how to meet the funding gap and how to strive for zero-carbon financial funds to come to my market. Now everyone is arguing about how to establish zero-carbon finance. For example, the bond market of zero-carbon finance is at the forefront of discussing commercial real estate. Because REITs have long-term income and the nature of debt, but in the long run, because the carbon premium is gradually rising, it has the content of equity income, so it well meets the dual characteristics of zero-carbon finance as carbon-neutral financing. "

Building REITs market, fund pool and carbon neutral science and technology innovation fund pool is another major event. Zhu Min said that the core of carbon neutrality is science and technology, and the driving force is science and technology. But where does the high-tech investment fund of carbon neutrality come from, where is the market and where is the standard? A series of global competition and cooperation on zero-carbon finance have begun. This ecology is very active, and various initiatives and products are emerging, which will also be the commanding heights of the future.

Initiative: Actively participate in global governance.

When the competition and cooperation in the financial market are formed, the core problem is how to build the governance mechanism.

Zhu Min believes that China should continue to actively participate in the global governance mechanism. A major feature of zero-carbon finance is that after the regulatory system came out, various financial institutions appeared various ecology, cooperation and platforms, especially in risk management, transitional finance, valuation of high-carbon assets, and many spontaneous activities in different details of pricing, capital flow and disclosure.

"Therefore, financial institutions in our country should actively participate in these activities. More importantly, in the process of participating in global governance and zero-carbon financial governance mechanism, China should also bring this new experience to the Belt and Road Initiative, promote the capacity building and system construction of the Belt and Road Initiative and developing countries, and help developing countries enter zero-carbon finance. This is also China’s historical responsibility and international mission. More importantly, participating in the international governance of zero-carbon finance will in turn push China towards a new financial era of reform and opening up. Disclosure should be unified, standards should be unified, product research and development, market liberalization, and capital flow will all be reflected in the entire global governance mechanism. " Zhu Min said.

In this regard, Wang xin, director of the Research Bureau of the People’s Bank of China, also said that the development of sustainable finance in China and related international cooperation are mutually reinforcing and have formed a good virtuous circle; In addition, China participates in international coordination and cooperation, and the latest international progress is also a great guide and promotion for the domestic development of green finance, sustainable finance or zero-carbon finance.

According to Wang xin, in order to better support international coordination and cooperation, the People’s Bank of China has promoted the development of green finance-related fields in many aspects: First, it has strengthened the construction of sustainable financial standards system, including improving green financial standards and expanding and expanding the use of the China-EU Common Catalogue of Sustainable Finance.

The second is to strengthen the disclosure of climate and environmental information. The basic work is to carry out relevant standard statistics and strengthen the requirements of information disclosure of financial institutions. Third, expand the use of sustainable financial instruments. Financial institutions actively participate in the development and interconnection of related financial products and related financial markets. Green loans, green bonds, carbon neutral bonds and bonds linked to sustainable development will also be gradually developed.

Fourth, strengthen the incentive and restraint mechanism, including the formation of a reasonable carbon price. The People’s Bank of China has also launched a special mechanism to support the development of green finance and improve the evaluation and application of green finance results. Fifth, capacity building, and systematic training and capacity building.

In addition, give full play to the role of relevant institutions in the green finance reform and innovation pilot zone.

Pain point: where is the difficulty in achieving coordination?

The construction of carbon market will make China one of the main beneficiaries. However, in the process of achieving "carbon neutrality" and coping with climate change, the challenge of coordination is easy to say, but it is also complicated.

Bai Lefu, chief economist of Asian Infrastructure Investment Bank (AIIB), talked about his views. He mentioned that climate change is a global issue, regardless of national boundaries. Different countries are affected by climate change in different degrees, so their coping strategies are different. For example, some can reduce carbon emissions, or increase their adaptability and resilience, but their adaptability and resilience are more complicated, which may be exerted by the enterprise sector, thus making it more difficult to achieve coordination. After all, in the process of achieving coordination, countries bear different costs and benefits.

Bai Lefu believes that "to achieve global coordination, fairness and justice are very important in this transformation. We need strong governance, including financial governance and mandatory regulatory rules; In order to further develop the carbon market and distribute fair carbon quotas, it is necessary to understand the nodes and starting points reached by countries in the implementation process more accurately, so standards are needed to balance them. We need to gather national platforms to build a global architecture, so as to achieve a fair transformation and make the transformation sustainable. If such a transformation is not sustainable, it will not be supported by the public, it will not be able to achieve sustainable development, nor will it be able to achieve a fair and just transformation, and it will be even more impossible to move towards a zero-carbon future. "

In addition, Zhang Liqing, director of the International Finance Research Center of the Central University of Finance and Economics, believes that China’s leading and formulating international rules in the field of zero-carbon finance is itself a manifestation of financial openness. He also further mentioned the multi-level challenges faced by expanding opening up. First, China’s economy may encounter more external shocks. Affected by fluctuations in international economic growth, changes in monetary policies of major developed countries and some international emergencies, international capital may enter and exit in a short time. This situation is hard to avoid, which will lead to fluctuations in domestic asset prices and exchange rates. If the domestic macroeconomic fundamentals are not good, the probability of such an impact will be great.

The other is the impact of geopolitical conflicts and the tightening of Sino-US relations. Will the expansion of financial opening face greater risk of financial sanctions? Of course it’s possible. Zhang Liqing said, but unless there is an extreme situation, it is more likely that the opposite will happen. The deeper the connection between the two countries in the financial field, the higher the cost of financial sanctions, and the less likely it will happen. In addition, if residents are allowed to invest abroad more freely, it will also reduce the scale of China’s foreign exchange reserves to a certain extent, thus reducing the risk that foreign exchange reserves will be frozen in case.

As for the risk of capital outflow caused by the tension between China and the United States, Zhang Liqing believes that strengthening communication and exchanges and expanding the common denominator as much as possible in all aspects are the key to preventing the further decoupling of technology and trade between China and the United States, and also the key to preventing the risk of capital outflow. China’s economy still has great growth potential. If we can continuously improve the investment environment and do better in the construction of the rule of law and the protection of property rights, the result of expanding the two-way financial opening must be or the probability is that the net capital inflow will increase, not the other way around.

Beijing business today reporter Liu Sihong

Reporting/feedback

Who said you should throw the yolk when eating eggs? Beware of missing most of the nutrition!

  Recently, due to the epidemic, everyone has raised their awareness of storing food at home. Eggs are one of the fastest and most convenient food materials, and they have also become a must-have food for every household. A friend asked: I can’t go out to eat at home recently, and it’s also troublesome to make big fish and meat. There are quite a lot of eggs at home. Can I eat five every day? I heard that it has high cholesterol and is harmful to eat?

  What nutrition does an egg have?

  Choline in eggs is very important to children

  Egg is a kind of food with high nutritional value. An egg weighs about 50g. Its main ingredient is water, accounting for about 75%. In addition, protein and fat are the main ingredients, as well as some minerals and vitamins (such as A, D and B groups). Eggs can provide us with these aspects of nutrition:

  protein

  Protein in an egg is about 7 grams, and the amino acid pattern of protein in the egg is very balanced, which is very suitable for human absorption and utilization, and is a good source of protein intake.

  lecithin

  Lecithin in eggs is an important component of high-density lipoprotein, which can help regulate blood lipids and play an important role in nerve tissues such as brain.

  vitamin

  Eggs are rich in vitamins, which can provide 10%-20% folic acid and 20%-30% vitamins A, D and E in the diet. For vegetarians, eggs are also an important source of vitamin B12.

  choline

  There is also a rich nutrition in eggs — — Choline. The choline content in 100 grams of eggs is about 251 mg, and a shelled egg weighs about 50 grams, which can provide 176 mg of choline.

  Choline is also an important nutrient for children. It is found that when DHA and choline are sufficient, it is most beneficial to the development of fetal brain, and the cognitive level of infants in the future is the highest; Babies who get enough choline during pregnancy have less stress response after birth, and the risk of suffering from various chronic diseases in the future may be reduced.

  Will eating eggs raise cholesterol?

  Don’t worry too much, it’s much better than big fish and big meat

  Many people are afraid to eat more eggs, mainly for fear of raising cholesterol. The yolk of an egg contains more than 180 milligrams of cholesterol, which is really high. Previous dietary guidelines generally suggested that cholesterol should not exceed 300 mg per day, so this became the reason why many people thought that eggs should not be eaten too much.

  However, in recent years, the academic circles have summarized the results of various studies and concluded that there is no direct causal relationship between cholesterol intake and cardiovascular and cerebrovascular diseases. In fact, cholesterol in human blood is not exactly the same as cholesterol in food. There are two sources of cholesterol in human body — — About 70%-80% is synthesized by the liver, and only a small part comes from dietary cholesterol. Some cholesterol ingested through food cannot be absorbed by the body and will be excreted with feces. Therefore, we really don’t have to worry too much about cholesterol in food.

  Moreover, eggs are much better than cholesterol in big fish and meat. Because in addition to cholesterol, there are many nutrients in eggs that can offset the risks associated with excessive cholesterol intake. And big fish and meat are not only high in cholesterol, but more importantly, their fat content (saturated fat in some red meat) is high, which is more harmful to cardiovascular system.

  How many eggs is best to eat every day?

  One a day is fine, and it doesn’t matter if you overdo it occasionally.

  Since there is no problem with cholesterol in eggs, is it ok to eat five eggs every day? Actually, it is not.

  Eggs are really nutritious, but no matter how nutritious they are, they are just a kind of food. For a healthy diet, it is important to diversify food and balance nutrition, rather than being superstitious about a certain food and eating too much.

  For example, the main ingredient in eggs is protein. Although eggs are a good source of protein intake, they are not the only source. Bean products, meat and dairy products can also provide us with protein. You know, one third of soybeans are from protein, and drinking a glass of milk a day can also provide about 10 grams of protein.

  Eating one egg a day is ok, and occasionally eating five eggs a day may not be a big problem. However, if you eat five every day, it will inevitably lead to eating less other foods and reducing other nutrient intake, which will lead to imbalance in nutrient intake and eventually lead to malnutrition, which is not recommended. Besides, during the period of isolation, most people exercise less.

  Do you want to eat egg yolk?

  Vitamins and minerals in egg yolk are higher than those in egg white.

  Most of the vitamins and minerals in eggs are in the yolk, and their contents are higher than those in egg whites, which almost only provide protein. Moreover, egg yolk is rich in lecithin and choline. Dietary Guidelines for China Residents (2022) recommends eating 300-350g eggs a week (about one egg a day), and eating eggs without discarding the yolk.

  The American Heart Association’s scientific advice on dietary cholesterol and cardiovascular risk suggests that healthy people eat a whole egg every day.

  How to eat eggs is healthier?

  Frying may affect cardiovascular system.

  Need to remind everyone that how to eat eggs is also very important. Whether an egg is fried or boiled, whether it is fried in a lot of oil or splashed with water, or whether it is custard or egg drop soup, their effects on human health will be very different.

  Studies have found that after eggs are improperly cooked (such as frying), fat and cholesterol are oxidized, and may generate advanced glycation end products through Maillard reaction, which may promote the damage of human vascular endothelium and arteriosclerosis, which is not conducive to cardiovascular health. However, there is no such problem with steamed eggs and boiled eggs. I suggest you try to eat steamed eggs and boiled eggs.

  What’s the difference between different people in eating eggs?

  Healthy adults: people who have no dyslipidemia and are healthy in liver, kidney, pancreas and gallbladder can eat 1-2 eggs a day without excessive fish and seafood.

  Healthy egg-milk vegetarian: It doesn’t matter if you eat two eggs a day, but it’s still not recommended to eat like this every day.

  Expectant mothers during pregnancy, nursing mothers, bodybuilders, people who do a lot of exercise, teenagers’ long period of physical development and hunger/food shortage: If you are healthy and have no abnormal blood sugar and blood lipids, you can eat 2-3 eggs every day for a period of time, but it is not recommended to do so all the time.

  Middle-aged and elderly people, people with hyperlipidemia, patients with gallbladder disease and diabetics: It is not recommended to eat several eggs every day.

  If there is a shortage of food and there is no big fish and meat for ten days in a row, it is not a big problem to eat five eggs today. However, it is not recommended to eat like this all the time after the food supply keeps up.

  Text/Yan Guangfeng

  (Director of Science and Technology Department of Food and Nutrition Information Exchange Center, Master of Nutrition and Food Safety of China Agricultural University)

Starting from the bitcoin derivatives market: 9 wins and 1 loses or loses the whole game, wandering in the gray area.

Since the end of October, 2020, the price fluctuation of Bitcoin has been increasing at the same time, and some investors have also poured into the bitcoin derivatives market.
On January 21st, the price of Bitcoin once fell below $32,000, which was 10.3% lower than the highest price in 24 hours. Previously, on January 11th, the price of Bitcoin once dropped by 27.78% from the highest price of $41,962, and on January 4th, it once dropped from more than $34,000 to around $28,000 in one day.
Among many influencing factors, some analysts believe that the sharp fluctuation of bitcoin price is behind the growing derivatives market.
Researchers at Skew.com, a cryptocurrency data analysis platform, recently wrote on Twitter: "The open contracts of Bitcoin futures are rapidly rebounding to a record high." According to the chart provided by it, since the end of October 2020, the open contracts of bitcoin futures have been on the rise.
Since late October, the growth trend of open positions in bitcoin futures of various exchanges has come from Skew.com, where bitcoin derivatives transactions occupy a larger market turnover than spot transactions. According to The Paper’s understanding, in addition to spot trading, Bitcoin currently has leveraged trading, as well as derivatives trading such as futures contracts and option contracts. Among them, leveraged trading is also based on spot trading, so some insiders and exchanges do not regard it as cryptocurrency derivatives. However, this kind of transaction is also different from spot trading, which can be understood as the product type derived from spot trading and can achieve the effect that derivatives can achieve.Leveraged transaction: leverage ratio is 2-10 timesTo provide investors with short-selling opportunities.
Leveraged trading is a way for investors to trade assets with funds provided by third parties. In traditional financial markets, such as the stock market, leveraged trading is also called margin trading. Investors can borrow money from stock brokers to buy stocks or borrow stocks to sell them. In the cryptocurrency market, borrowed funds or cryptocurrency assets are usually provided by other users in the exchange.
Leveraged trading can be divided into long and short trading.
Take Bitcoin as an example. If investors expect the price of Bitcoin to rise, they need to borrow more stable coins in their hands to buy Bitcoin, and then sell them to earn the difference after the actual increase. For example, investors have 2000USDT (TEDA coin, a stable currency linked to the US dollar), which can be used as a security deposit. They can borrow 10000USDT with five times leverage, then buy bitcoin, sell it after the price of bitcoin rises, and return 10000 USD T. After that, the investor’s profit is five times that of buying and selling 2000USDT in bitcoin. Bears, on the other hand, if investors expect bitcoin prices to fall, borrow bitcoin and sell it immediately and buy it back after the market falls.
However, once the investor’s opening direction is opposite to the market trend and the market fluctuation exceeds a certain proportion, and the total assets of the user’s margin account are lower than the minimum margin requirement for leveraged trading, the exchange will force the sale of the assets mortgaged by the user to close the position, that is, "explode the position". For example, a bull with 5 times leverage, once the price of Bitcoin falls by more than 20%, multiplied by leverage is 100%, and the margin will be forced to close.
"Even less than 20% will pay off the debt, because leveraged trading has interest." A cryptocurrency market insider told the The Paper reporter.
Compared with conventional spot trading, leveraged trading means that investors can get more funds to amplify the trading results, so as to get more profits. Moreover, spot trading can only buy low and sell high, while leveraged trading provides investors with short-selling opportunities. At present, the leverage ratio of leveraged transactions in the market is generally 2-10 times.
"Leveraged trading actually allows some large holders of money to hedge against the foreseeable price drop without selling money," said an insider in the cryptocurrency market. "Constant arbitrage can meet the needs of long-term holders of money."
For example, he said, if a big money holder holding 1,000 bitcoins thinks that the price of bitcoin will drop by 5 points in the short term, and if it doesn’t move, there will be losses, so he can use 200 bitcoins as a margin to open five times of leveraged trading short, borrow 1,000 bitcoins to sell, and then buy them back after the price drops. In this way, it can make up for the losses caused by the price drop of the remaining 800 bitcoins.
Futures contract: the maximum leverage can reach 125 times.
In the traditional financial market, futures contracts are standardized contracts formulated by futures exchanges, which make uniform provisions on the expiration date of contracts and the types, quantity and quality of assets bought and sold. On this basis, the futures contracts in the cryptocurrency market have made some innovations. At present, they are divided into delivery contracts and perpetual contracts.
In the delivery contract, investors can judge the rise and fall, and choose to buy long contracts or sell short contracts to gain the gains from the rise or fall of cryptocurrency prices. The delivery contract of mainstream cryptocurrency exchanges generally adopts the mode of spread delivery, and the exchange will close all the open contract orders when the contract expires. At present, the delivery time of the delivery contract is the current week, the next week, the current season, the second quarter and so on.
The perpetual contract is an innovative derivative, similar to the delivery contract, except that the perpetual contract has no delivery date, and users can hold it all the time and close their positions independently. Therefore, the perpetual contract relatively lowers the professional investment threshold, and investors don’t need to consider the steps such as delivery and warehouse change, which is similar to the spot experience.
"A particularly big drawback of the perpetual contract is that the rate is settled three times a day and once every eight hours. If the amount of funds is huge, it will take a few ten thousandths of a day, and the number will be huge for one month in a row." The above cryptocurrency market insiders said.
In order to ensure the long-term convergence between the perpetual contract price and the spot target price, the exchange basically uses the capital rate method. The fund rate refers to the settlement of funds between all bulls and bears in the market. If the rate is positive, the bulls pay the funds to the bears. If it is negative, the short pays the long position. In this way, the demand of buyers and sellers for perpetual contracts is balanced, and the price of perpetual contracts is basically consistent with the price of the underlying assets.
Compared with leveraged trading, both delivery contracts and perpetual contracts are bullish and bearish, and leverage can also be used with margin at the bottom. However, leveraged trading like Bitcoin is to borrow a third party’s stable currency to do long or borrow bitcoin to short. Futures contracts are not the concept of "borrowing", but the long investors and short investors bet on each other, and the exchange plays an intermediary role in matching.
"Compared with pure spot leveraged trading, the utilization rate of funds is stronger." The above cryptocurrency market insiders said.
According to the above-mentioned cryptocurrency market insiders, if you make long futures contracts, as long as the leverage is low enough, and then use enough margin according to the self-considered bitcoin price limit, then as long as the market finally picks up, you will eventually make money.
"The contract also has its value. For those who really have a sense of risk control, the contract is a means to improve the utilization rate of funds, not as terrible as imagined." He said.
Futures contracts are the most traded derivatives at present. Compared with leveraged trading, the highest leverage of perpetual contracts and delivery contracts in mainstream exchanges can reach 125 times.
Option contract: At present, it accounts for about 1% of futures.
Option contract is a transaction of buying and selling rights, which stipulates the right to buy and sell a certain kind and quantity of primary assets at a certain time and at a certain price, and can be divided into call option and put option. In the cryptocurrency derivatives market, the trading logic of T-type quoted option contracts dominated by Deribit exchange is almost the same as that of option contracts in the traditional financial industry. All of them are European options, which can only be exercised on the expiration date. Investors can act as option buyers or options sellers.
The simple version of the new options (also known as short-term options) introduced by the currency security and other exchanges is simpler and faster. Investors only need to choose the expiration time and purchase quantity of options when purchasing options, and the exercise price changes in real time when placing an order, which is provided by the exchange. According to the product characteristics of different exchanges, it can be divided into European options and American options. Compared with traditional options, its maturity range is shorter, ranging from 5 minutes to 1 day. Investors can only play the game of option contract with the exchange as the buyer of option.
However, the disadvantage of the option contract is that the intrinsic value is not transparent enough, and the risk that investors need to bear as the counterparty of the option in the exchange is high, even if the price of the option is unreasonable, they cannot learn from it.
The above-mentioned cryptocurrency market insiders said that institutions, qualified investors, Hong Kong and the mining circle will recognize options more, "sometimes it is to hedge some ups and downs of the spot".
"For example, if I think Bitcoin may go up next, I will buy a 50% call option and then a 50% put option," he said. "In the middle, I think that after the trend is formed, I can stop the other one, so I won’t lose money, and I will always keep it."
Therefore, compared with other derivatives, there is no problem of short position in option contracts.
Gu Yanxi, the founder of American Liyan Consulting Co., Ltd. and a researcher in the blockchain and encrypted digital assets industry, told The Paper that compared with futures, the risk of options is smaller, because there are many options tools, and the biggest loss is only royalties, instead of collecting deposits on both sides like futures. As long as the position is in the opposite direction to the market direction, the margin will be collected or even closed if it exceeds the limit.
The above-mentioned cryptocurrency market insiders said that in the cryptocurrency market, options have not been fully developed, and now they are at a stage that has just started, accounting for about 1% of futures.
"Option contracts will gradually enter more and more professional traders, including with the obvious trend of institutionalization. After coming in, many institutional investors may be willing to choose some option tools that they are more familiar with to achieve price anchoring, or according to the logic of their long-term rise or fall. Therefore, more gameplay such as options or binary options may be developed." The industry insider said.
In addition to the above three products, the cryptocurrency market also has the transaction of leveraged tokens. In essence, it is a token with leverage function, which can provide the reward of multiple leverage of the underlying assets, and its function is similar to that of ETF(ExchangeTradedFund) in the traditional financial field.
Leveraged tokens do not need collateral and maintenance margin, nor do they need to worry about the risk of liquidation. Behind each leveraged token, there is a basket of subject matter positions. According to different products, the real target leverage ratio behind leveraged tokens is different. Leveraged tokens maintain the target leverage by increasing or decreasing the positions held by the underlying assets through the position adjustment mechanism of the exchange.
Risk: Without risk control, all bets are off if you win 9 and lose 1.
The high leverage ratio of derivatives not only brings high returns, but also means that the risk of short positions is higher in the market with sharp fluctuations, especially for futures contracts with the highest market share at present.
The above-mentioned cryptocurrency market insiders said: "For white users or newcomers who have just entered the market, this may be something that has entered the grave, especially those with strong gambling. If you open a futures contract of 100 times, if there is not enough margin, as long as it fluctuates up and down by 1%, it will die."
"You won nine times, but in the process of a plunge and a surge, you went in the wrong direction and everything was gone. As long as you don’t do a good job of risk control, you don’t know how to add margin, you don’t know how to divide the warehouse, how much money you earn, and the mental state of being unable to sleep will be very tormenting. " He said.
In addition to the investment risks of derivatives, Gu Yanxi believes that in the cryptocurrency market, there are also many risks for investors in non-compliant derivatives exchanges, such as internal operational risks, bankruptcy risks, and running risks.
"If the internal management process is not good, the storage place is stolen, or it is a security mechanism, and the private key of the cold wallet is not firmly stored, resulting in the partial loss or overall loss of the key. For example, a centralized exchange can rewrite its own books at will, and it can fill in unlimited positions, but users don’t know. " He said.
Due to the high volatility of cryptocurrency assets, it often leads to violent fluctuations in many derivatives markets such as leveraged transactions and contracts. The processing capacity of the exchange’s trading system is particularly critical. If users can’t close positions and add positions in time, it may cause huge financial losses. In addition, due to the opacity of derivatives trading, small derivatives exchanges may have evil behavior, which seriously damages the interests of investors.
Cryptographic currency derivatives exchange is in urgent need of compliance
Compliance of cryptocurrency derivatives exchange is imminent.
At the end of 2017, Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME) launched bitcoin futures contracts; During the same period, LedgerX launched the first physical settlement bitcoin futures contract in the United States. In 2019, Bakkt also launched bitcoin futures and options contracts, which is the first bitcoin option derivative approved by the US Commodity Futures Trading Commission (CFTC).
In the current cryptocurrency market, only these four local exchanges in the United States are approved by the regulatory authorities and operate derivatives transactions in compliance. In terms of policy, the regulatory policies of cryptocurrencies in various countries are still vague.
Gu Yanxi told the The Paper reporter: "At present, the trading volume of these exchanges is relatively large, and they are all registered in some small places and operated in different places, such as Seychelles or the Bahamas. The specific personnel may be in Singapore and Hong Kong, because there is no strict requirement for supervision in the local operation. But now Singapore and Hong Kong will also start to supervise, and they will definitely apply for a license in the future, just like the mainstream derivatives exchanges. If there is this requirement, the transaction volume will definitely be hit very hard. "
Gu Yanxi also pointed out that at present, all exchanges use USDT as the main trading medium, but it is also a non-compliant dollar stable currency. Once the US government sues USDT and takes regulatory measures against it, the traffic in the derivatives market will also lose a lot, so it will be very risky.
(This article is from The Paper, please download the "The Paper" APP for more original information)
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[See you at 8: 00] Shanxi Jishan responded to the abandonment of relief supplies.

CCTV News:At 8 o’clock every day, CCTV will sort out the big and small things that happened around us within 24 hours.

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