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)

The key to China’s characteristics lies in "two combinations" (in-depth study and implementation of Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era)

  synopsis

  The road of Socialism with Chinese characteristics came out under the guidance of Marxism and the history of Chinese civilization for more than 5,000 years. "Two combinations" is the only way to open up and develop Socialism with Chinese characteristics. Chinese-style modernization theory is an important theoretical innovation that our party combines the basic principles of Marxism with the concrete reality of China and the excellent traditional Chinese culture, which shows the great significance of "two combinations".

  Direction determines the road, and the road determines fate. General Secretary of the Supreme Leader pointed out at the symposium on cultural inheritance and development: "Why is our socialism different? Why can it be full of vigor and vitality? The key lies in the characteristics of China. The key to China’s characteristics lies in ‘ Two combinations ’ 。” This important conclusion profoundly reveals the great significance of the "two combinations", highlights our party’s historical and cultural self-confidence, deepens our party’s regular understanding of upholding and developing Socialism with Chinese characteristics, and provides scientific guidance for continuously advancing the modernization of Marxism in China and building the modern civilization of the Chinese nation on the new journey.

  "Two combinations" is the only way to open up and develop Socialism with Chinese characteristics.

  Rivers and Wan Li always have sources, and trees are high and thousands of feet also has roots. Socialism with Chinese characteristics didn’t fall from the sky, but was the fundamental achievement made by the Party and the people at all costs. What kind of doctrine a country implements depends on whether this doctrine can solve the historical problems facing this country. More than a hundred years ago, during the period when the Chinese nation was poor and weak, and was trampled upon by others, in order to save the nation from peril, the people of China rose up and rebelled, people with lofty ideals ran and shouted, and all kinds of doctrines and ideological trends tried, but they failed to solve the future and destiny of China.

  A cannon shot of the October Revolution brought Marxism–Leninism to China. In the great awakening of the people of China and the Chinese nation, and in the close combination of Marxism–Leninism and the China workers’ movement, the Communist Party of China (CPC) came into being. General Secretary of the Supreme Leader pointed out: "How can communist party succeed? In Shikumen, there was a boat on the South Lake, and there were more than a dozen people, so today. The road here must be clarified and the truth must be localized. " Turning over the century-long history of storms, our Party has gone through practice and breakthrough again and again, combining the basic principles of Marxism with the concrete reality of China and the excellent traditional Chinese culture, and constantly promoting the modernization of Marxism in China. History and practice have proved that only when Marxism is rooted in the historical and cultural fertile soil of our country and nation can it always maintain its vitality and guide us to create, uphold, defend and develop Socialism with Chinese characteristics.

  When Socialism with Chinese characteristics entered a new era, the Supreme Leader General Secretary clearly put forward the important conclusion of "the second combination". The "second combination" is our party’s profound summary of the historical experience of the modernization of Marxism in China, and a profound grasp of the law of the development of Chinese civilization, which shows that our party’s understanding of China’s road, theory and system has reached a new height, that our party’s historical self-confidence and cultural self-confidence have reached a new height, and that our party’s consciousness of promoting cultural innovation in inheriting Chinese excellent traditional culture has reached a new height.

  Practice has proved that it is the only way to open up and develop Socialism with Chinese characteristics on the deep foundation of Chinese civilization for more than 5,000 years, and to combine the basic principles of Marxism with the concrete reality of China and the excellent traditional Chinese culture. This is the regular knowledge that we have gained in the course of exploring Socialism with Chinese characteristics. It is through the "two combinations" that the "localization of truth" is constantly promoted, and Marxism is increasingly integrated with China’s excellent historical culture that has been passed down for thousands of years and the values that the broad masses of people are unaware of every day, showing a stronger and more convincing force of truth in China and leading Socialism with Chinese characteristics’s great cause to create a new situation.

  "Two combinations" is the greatest magic weapon for our success.

  "If there is no Chinese civilization for five thousand years, what are the characteristics of China? If it is not the characteristics of China, how can we have such a successful Socialism with Chinese characteristics road today? " The road of Socialism with Chinese characteristics came out under the guidance of Marxism, and it also came out from the history of Chinese civilization for more than 5,000 years. Based on the magnificent history of Chinese civilization of more than 5,000 years, we can deeply understand why "two combinations" have become the greatest magic weapon for our success.

  "Two combinations" endow Socialism with Chinese characteristics with unique roads. The unique cultural tradition, unique historical destiny and unique basic national conditions have doomed the Chinese nation to take the development road suitable for its own characteristics, which is the Socialism with Chinese characteristics Road. Socialism with Chinese characteristics is the dialectical unity of the theoretical logic of scientific socialism and the historical logic of China’s social development. At the same time, the mutual agreement between Chinese excellent traditional culture and Marxism also provides a cultural foundation for Marxism to take root in China. The premise of "combination" is mutual fit, and mutual fit can be organically combined. The result of "combination" is mutual achievement, and through profound "chemical reaction", an organic and unified new cultural life has been created. "Combination" has laid a solid foundation for the road. In particular, the "second combination" has given Socialism with Chinese characteristics Road a broader and far-reaching historical depth and expanded the cultural foundation of Socialism with Chinese characteristics Road.

  "Two Combinations" Activate the Creativity of Socialism with Chinese characteristics’s Theoretical System. Why the Communist Party of China (CPC) can and why Socialism with Chinese characteristics is good is, in the final analysis, a Marxist line, a Marxist line with China modernization. This is the conclusion of history. The important proposition of China and modernization of Marxism itself determines that we must never abandon the soul pulse of Marxism and the root pulse of Chinese excellent traditional culture. Only by adhering to the "two combinations" can we stick to this soul and root, comprehensively excavate the treasure house of Chinese civilization for more than 5,000 years under the guidance of Marxism, activate the outstanding factors with vitality in Chinese excellent traditional culture with Marxism and endow it with new connotation of the times, inject the great spirit and rich wisdom of the Chinese nation into Marxism at a deeper level, effectively integrate the essence of Marxist thought with the essence of Chinese excellent traditional culture, fuse them into new theoretical advantages, and constantly climb new ideological peaks.

  "Two Combinations" to Enhance the Superiority of Socialism with Chinese characteristics System. What kind of national system and national governance system to choose is determined by the country’s history, culture, social nature and level of economic development, and it is also determined by the people of this country. In the long-term exploration, our Party has always grasped the ideological and cultural initiative, and paid attention to the organic unity of history and reality, theory and practice, form and content, so that the Socialism with Chinese characteristics system not only embodies the basic principles of scientific socialism, but also has distinctive China characteristics, national characteristics and characteristics of the times. Only by adhering to the "two combinations" can we make full use of the precious resources of Chinese excellent traditional culture to explore future-oriented theoretical and institutional innovations in a broader cultural space, and use China-oriented and modernized Marxism to guide the system construction, so as to maintain and continuously enhance the institutional superiority of Socialism with Chinese characteristics in self-improvement and development for a long time.

  "Two Combinations" to Consolidate the Cultural Subjectivity of Socialism with Chinese characteristics. Without high cultural self-confidence, there would be no great rejuvenation of the Chinese nation. Cultural confidence comes from our cultural subjectivity. Our Party has always attached importance to cultural construction, always adhered to the guidance of Marxism, promoted the creative transformation and innovative development of Chinese excellent traditional culture, inherited revolutionary culture, developed advanced socialist culture, kept in mind the original, absorbed foreign countries and faced the future, better built China spirit, China values and Chinese strength, and continuously cultivated, refined and sublimated and consolidated the cultural subjectivity of the Chinese nation. The creation of the Supreme Leader’s New Era Socialism with Chinese characteristics Thought is the most powerful embodiment of this cultural subjectivity. With cultural subjectivity, we have a firm self in the cultural sense, a fundamental support for cultural self-confidence, a powerful cultural force to lead the times in the Communist Party of China (CPC), a solid cultural foundation for national identity for the Chinese nation and the people of China, and a distinctive cultural feature for Chinese civilization to exchange and learn from other civilizations in the world.

  Chinese modernization theory is a great achievement of "two combinations"

  In the new era and new journey, the Communist Party of China (CPC)’s central task is to unite and lead the people of all ethnic groups to build a socialist modernization power in an all-round way, realize the goal of the second century, and comprehensively promote the great rejuvenation of the Chinese nation with Chinese modernization. Chinese-style modernization is deeply rooted in Chinese excellent traditional culture, fully embodies the advanced essence of scientific socialism, draws on and absorbs all outstanding achievements of human civilization, represents the development direction of human civilization progress, and shows a new picture different from the western modernization model, which is a brand-new form of human civilization. Summarizing and expounding the Chinese modernization theory is an important theoretical innovation for our party to combine the basic principles of Marxism with the concrete reality of China and the excellent traditional Chinese culture. It is the latest major achievement of scientific socialism and shows the great significance of "two combinations".

  The context is well-versed, and Sven is here. Chinese civilization has endowed Chinese-style modernization with profound connotations, enriched the cultural life of Marxism with Chinese excellent traditional culture, and promoted Marxism to achieve a new leap of China modernization, showing an increasingly distinctive China style and China style. China Marxism has become the essence of Chinese culture and China spirit. The "second combination" makes Marxism China, Chinese excellent traditional culture modern, and the new culture formed through "combination" becomes a Chinese modern cultural form, which enriches and develops Marxist cultural theory and promotes the formation of the cultural chapter of Socialism with Chinese characteristics Thought of the Supreme Leader in the new era, that is, the cultural thought of the Supreme Leader. Chinese-style modernization is to continue the modernization of ancient civilization, not to eliminate it; It is a modernization that grows from the land of China, not the modernization of other countries; It is the result of civilization renewal, not the product of civilization fracture. Chinese-style modernization is the new life of the old country of the Chinese nation, which will surely promote the rejuvenation of Chinese civilization.

  "Take the wind, go to Wan Li in the sky, and look down at the mountains and rivers." Only when the universal truth is combined with the concrete reality can it be transformed into a material force that destroys everything and changes the world. Only when scientific theory is combined with excellent culture can it be internalized into a spiritual force that moistens everything and unites people’s hearts. In the great practice of Chinese-style modernization, we should study, study and interpret the cultural thoughts of the supreme leader, always adhere to the "two combinations", more deeply discover mutual agreement, promote mutual achievements, build a solid road foundation, open up new space for innovation, better shoulder new cultural missions, and continue to promote cultural prosperity, build a cultural power and build a modern civilization of the Chinese nation at a new starting point.

  (The author is a researcher at the New Era Socialism with Chinese characteristics Institute of Thought, the supreme leader of China Renmin 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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20 gold, 8 silver and 12 bronze, China swimming team ranked first in the gold medal list of Fukuoka Swimming World Championships.

Medvedev: If Russia loses its territory, it will have to use nuclear weapons.

Typhoon Du Surui has killed 16 people in the Philippines and affected more than 1.02 million people.

Russia said that Ukrainian drones attacked Moscow, causing damage to two office buildings and one injury.

Foreign media: Saudi Arabia will host talks on Ukraine and intends to invite many countries to participate in the peace agreement.

A strong storm in the Mariel Republic of Russia has killed seven people.

Arsenic-containing sewage from an excavation site in Hokkaido, Japan was leaked again during transportation.

Two small planes collided in the air in Wisconsin, USA, killing two people and injuring two others.

Yunnan Provincial Department of Culture and Tourism denied that "Yunnan announced the closure of tourist shopping stores around the country".

Shanxi Jishan responded to the abandonment of relief supplies: the relevant personnel were dealt with and Jingping Village was ordered to rectify.

Guangxi lost archivists talk about "being notified": I have not been retired as a staff member.

The anchor of goods in Yushan County, Shangrao, Jiangxi Province fictionally worked to earn money to treat his grandfather and was interviewed by the police.

A gang in Beijing tricked collectors into making VR videos at high prices, and the Beijing police arrested 7 people.

The 30-meter-high auxiliary police who jumped into the river to save people won the second-class honorary medal, and the Wuhan Public Security Bureau delivered the prize to the door.

The man took out 4000 yuan from someone else’s bank card and was praised by the police.

Shijingshan, Beijing reported that the road surface outside Jingxi Joy City collapsed: no casualties were caused.

Fujian Nan ‘an typhoon blew off the power line and the puppy was electrocuted. Good-hearted people were stationed for 2 hours to remind passers-by.

Guangzhou Chimelong Wildlife World: MengMeng, Shuai Shuai and Kuku, the only surviving giant panda triplets in the world, celebrated their 9th birthdays.

Don’t let the "study trip" become a "killing pig plate".

— — Jingchu. com comments on the problems of false propaganda, low price and high quality in the travel market

In the scorching sun, a minesweeper brigade of the navy in the southern theater organized a mine-sweeping exercise in a certain sea area. With the commander’s order, the minesweeper Hejian successfully detonated the mine.

In late July, female Tibetan antelopes who finished giving birth in Zhuonaihu Tibetan Antelope Aggregation, Hoh Xil, Qinghai, embarked on a journey of "returning home" with their young. Among them, Tibetan antelopes from the Sanjiangyuan area of Qinghai will go to their habitats through the Qinghai-Tibet Highway one after another.

"My college dream is round." Huang Zhen Yu, the first blind college entrance examination candidate in Fujian, was recently admitted to Jiangxi University of Science and Technology and will study broadcasting and hosting art. Huang Zhen Yu said that he would cherish his four years in college and strive to be admitted to the graduate school of his choice for further study.

See you at 8 o’clock tomorrow!

The Open Character of a City —— Shanghai Path to Promote High-quality Development (Part Two)

   [A magnificent new era of 70 years of struggle — — Promote high-quality development research bank]

  Guangming Daily reporter Shang Jie Yan Weiqi Xu Danlu

  A city has the character of a city.

  "The reason why Shanghai has developed so well is closely related to its open character, open advantages and open actions." On November 5, 2018, at the opening ceremony of the first China International Import Expo, General Secretary of the Supreme Leader introduced Shanghai to the heads of 172 countries, regions and international organizations.

  Shanghai, which should be born and prospered by opening up, has been leading the national opening-up trend since the founding of New China, especially after the reform and opening up. In the process of promoting a new round of high-level opening up all over the country, how can Shanghai continue to be the vanguard of national reform and opening up, play the role of pioneer, demonstration and breakthrough, and expand space and stimulate motivation for promoting high-quality development?

  Shanghai is exploring and practicing.

  The open field is constantly expanding.

  The opening-up of China’s financial industry started in Shanghai. The first foreign bank and the first foreign insurance company in China were born here.

  On April 10th, in the Shanghai Representative Office of Huaihai Middle Road, Nomura Oriental International Securities was in full swing to prepare for its opening. As the first domestic application and the first batch of newly established foreign-controlled securities firms, Nomura Holdings Co., Ltd. from Japan plans to hold 51% of the shares.

  On the same day, Junkang Iiyama, executive chairman of Nomura Holdings Asia (excluding Japan) and chairman of China Committee, said that Nomura set up a representative office in Shanghai in 1980s and has been a witness and participant in the opening-up of China’s financial industry. "At the Boao Forum last year, as a representative of the participating enterprises, I felt the confidence and determination of China to further expand the opening of the financial industry." Fortunately, we can seize the opportunity of China’s new round of opening to the outside world, and Shanghai is always at the forefront of opening to the outside world. Nomura is full of confidence in the future.

  Not only in finance and securities, but also in education and medical care, which are closely related to citizens’ lives, Shanghai has also taken a new step of opening up.

  Shanghai Yongxing Gynecology Hospital, located in Waigaoqiao Free Trade Zone, is the first wholly foreign-owned hospital in China. The settlement of this "foreign hospital" benefited from the pilot of the Shanghai Free Trade Zone. In 2013 and 2014, the Shanghai Free Trade Zone released the restrictions on the establishment of wholly foreign-owned medical institutions and the total investment, which made Japan Yongxing Group see the opportunity.

  "At the end of 2014, we applied for running the hospital. At that time, many people reminded that in China, a permit had to run many departments and cover more than a dozen chapters. We were worried that we couldn’t handle it, so we hired a consulting company for guidance at a cost of $20,000. In the process of actual settlement, the Free Trade Zone Management Committee and Pudong New Area supported it in many ways, and the bid was particularly smooth. The US$ 20,000 was a waste. " Fan Yu, president of the hospital, said with a smile.

  In the past two years, the first similar "foreign institutions" have sprung up in Shanghai: the first wholly foreign-owned credit investigation and rating agency — — Moody’s (China) Co., Ltd., the first wholly foreign-owned vocational training institution — — PricewaterhouseCoopers Business Skills Training (Shanghai) Co., Ltd., the first wholly foreign-owned travel agency — — Yixin Dalv (Shanghai) International Travel Service Co., Ltd., the first wholly foreign-owned performance agency — — "Bandai Nanmenggong (Shanghai) Interactive Entertainment Co., Ltd." … … In 2018 alone, there were 413 new service industry expansion and opening-up projects in Shanghai, and a large number of projects were officially put into operation, which stimulated the vitality of the market.

  Behind the cluster of "foreign institutions", it is the result of Shanghai’s continuous relaxation of market access, steady opening-up of financial industry, service industry and manufacturing industry, continuous benchmarking of international first-class and optimization of business environment.

  Continuous optimization of open environment

  Expanding opening up on the basis of high-level opening up requires greater courage and boldness. In 2018, Shanghai formulated and implemented "100 measures for opening wider to the outside world", and put forward five aspects, 20 tasks and 100 measures for opening wider to the outside world, among which it was clearly proposed to deepen the opening up in key areas such as telecommunications, education, medical care and culture. At present, all 93 local powers have been implemented.

  The bottleneck problems encountered by some enterprises in their development have been solved. In recent years, taking advantage of the east wind of "One Belt, One Road" construction, the orders received by Volvo Construction Equipment China Headquarters have greatly increased, but it has encountered the problem of offshore settlement. Under the original supervision system, large-scale machinery should be sent directly to Africa from Korean factories, and the goods could not be settled in China without customs declaration. Enterprises have to bypass Singapore to complete it, which is time-consuming and laborious and increases costs.

  The Jinqiao Management Committee of Shanghai Free Trade Zone has learned this difficult problem, communicated and negotiated with the customs, the People’s Bank of China, the safe and other departments for many times, and solved this problem by building an information comprehensive platform and a "white list" system. Zhan Xu, vice president and director of the company, said that this move not only greatly saved the cost of the company, but also increased the offshore trade volume of the company by four times. More importantly, the Shanghai headquarters has obtained the international contract flow, income flow and capital flow, and changed from the original "paper headquarters" to a veritable headquarters.

  At the same time, Shanghai has made great efforts to deepen the business environment. In 2018, Shanghai launched 56 reform measures in one breath against the top ten evaluation indicators of the World Bank’s business environment, and completed two batches of 198 pilot projects of "separation of licenses" reform, with an average reduction of 30.5% in work links and 52.8% in work time. At present, more than 99% of new foreign investment and changes are handled by filing, and the processing time is reduced to three working days.

  More and more international enterprises feel the change. In July 2018, the Tesla Super Factory project was officially signed and settled in Shanghai. Five months later, the project was granted the construction permit, which achieved the signing, land acquisition and construction in the same year, and was praised by Tesla CEO elon musk as "amazing Shanghai speed".

  The continuous expansion of the open field and the continuous optimization of the open environment have attracted investors from all over the world. More than 50,000 foreign-funded enterprises have become an important force supporting Shanghai’s economic development. They account for 2% of the city’s enterprises, contributing 1/5 of Shanghai’s employment, 1/4 of GDP and 1/3 of tax revenue, and creating about 2/3 of the city’s foreign trade import and export and the total industrial output value above designated size.

  The scale of attracting investment continued to climb, the structure of attracting investment continued to be optimized, and the quantity and quality of the headquarters economy improved. As early as 2002, Shanghai took the lead in introducing the interim measures to encourage multinational companies to set up regional headquarters, which have been revised and improved many times in recent years to promote the scale and energy level of regional headquarters. By the end of 2018, Shanghai had settled in 677 headquarters of multinational companies and 444 foreign R&D centers, and the number of headquarters continued to lead the country. A large number of global leading multinational corporations have settled in Shanghai, showing a good trend of "being in Shanghai for the world".

  "Shanghai experience" is replicated and promoted to the whole country.

  In the "Double Eleven" in 2018, the number of cross-border e-commerce orders in Shanghai reached 2.75 million votes, reaching 1 million votes per hour at the peak, the transaction volume reached 390 million yuan that day, and the customs clearance rate reached 98.4%, basically achieving "second customs clearance". E-commerce companies such as Tmall and JD.COM reported that the processing efficiency of Shanghai Platform ranked first in China.

  Behind consumers’ enjoyment of "Happy Shopping" is Shanghai’s unremitting efforts to continuously strengthen the construction of an open platform.

  The declaration time for import and export goods is reduced from one day to half an hour; The entry and exit procedures for ships have been reduced from two days to two hours. On April 11th, at the Shanghai Port Center, the reporter experienced the convenience brought by the single window of international trade in China (Shanghai). Since the construction started in February 2014, it has been upgraded and improved many times. At present, this window connects 22 departments and serves 270,000 enterprises, saving enterprises more than 2 billion yuan every year.

  The establishment of a single window in international trade has turned the former manual errands into data running, and also made "information exchange, mutual recognition of supervision and mutual assistance in law enforcement" a reality. At present, this single window supports 1/3 of the country’s import and export trade volume and has become the largest single platform for the global import and export business. In 2015, the General Office of the State Council officially issued a document to promote the construction experience of Shanghai single window to the whole country.

  And this is just one of the "Shanghai experience" replicated and promoted by the Shanghai Free Trade Zone to the whole country.

  After the 1.0 version of the overall plan, the 2.0 version of the deepening plan and the 3.0 version of the comprehensive deepening plan, the Shanghai Free Trade Zone has always adhered to the pioneering and institutional innovation for five years, and more than 120 institutional innovations have been replicated and promoted nationwide. In particular, the national treatment plus negative list management model before foreign investment access has become the most thorough and widely implemented achievement of the free trade zone reform, which has been replicated and promoted throughout the country.

  China International Import Expo is another open platform that Shanghai focuses on. On April 12th, Liu Fuxue, deputy director of China International Import Expo Bureau and vice president of National Convention and Exhibition Center, introduced that compared with the first session, the exhibition area of the second session of enterprises will increase by 30,000 square meters, a unified release platform for new products, technologies and policies will be added, an outdoor exhibition hall for displaying large machinery and vehicles will be added, and a high-end consumer goods area & HELIP; … Shanghai has fulfilled its promise of "running a level, achieving results and getting better and better" with actions.

  Accelerate the construction of a global asset management center, accelerate the construction of an integrated platform in the Yangtze River Delta, and enlarge and strengthen the international import and export commodity display and trading platform … … Shanghai is focusing on building an international economic, financial, trade, shipping and scientific and technological innovation center, continuing to open to the outside world in an all-round way and enhancing its ability to allocate global resources.

  "In the new era, Shanghai has to undertake the new mission entrusted by the central government, and expanding opening up is the only way." Li Qiang, secretary of the Shanghai Municipal Party Committee, said that the promotion of Shanghai’s urban energy level depends on expanding openness to gather resource elements, and the enhancement of core competitiveness should be considered and practiced under open conditions. In the future development, Shanghai will continue to adhere to the policy of opening up and opening up, and strive to build Shanghai into a new round of all-round opening-up highland in China, a bridgehead serving the Belt and Road Initiative, an Asia-Pacific gateway for allocating global resources, and a strategic support for China’s approach to the center of the world stage, and take the lead in building a new pattern of all-round opening up.

  Guangming Daily (April 22, 2019, 01 edition)

[Variety Strategy] Soda soda: Summary of opinions of several futures companies in the morning paper on September 02

Summary of views of soda ash organization Futures company Core view Nanhua futures By August 29th, 2024, the inventory of soda ash this week was 1,218,800 tons, from Monday to 0.72 million tons, and from last Thursday to 0.39 million tons. In the short-term rhythm, the reduction of supply will continue, and the static balance will be tight or even gap, resulting in destocking. Soda is exploring new cost support. Galaxy futures The domestic soda ash market is weak, and the price center of gravity moves down in a narrow range. Recently, the maintenance of enterprises has continued, and the start-up and output have declined. The fundamentals of soda ash have not improved significantly, and the pattern of oversupply remains the same. The price of soda ash fluctuated mainly in the short term. Arbitrage: 1-5 anti-set opportunity to enter. Xingye futures With the expansion of soda production capacity and the slowdown of demand growth, the long-term price center of gravity will move down. Short-term maintenance leads to supply contraction, traditional peak season and low disk valuation, which may support the price of soda ash in the short term. Strategically, soda ash 09 contract takes profit, and 01 contract is patiently held. Yongan research Soda soda futures were flat in the day and weak in the night, with low basis and high spread in September/January; Strategy: soda ash air distribution, glass air distribution. Sdic Anxin futures Friday night’s market fell sharply. The accumulation trend slowed down last week. Zhou Du’s output fell to 673,500 tons month-on-month. At the beginning of September, three large factories planned to overhaul, and at the same time, an alkali plant resumed production, which is expected to start to maintain oscillating operation. Photovoltaic output continues to decline, and heavy soda just needs to be reduced. At present, the glass industry continues to accumulate, and there is still a cold repair expectation in the future, which has become a negative point for soda ash. At the end of the month, the downstream low-priced goods will be replenished, but it is expected to last for a short time. The supply chain has eased to some extent, but it is not obvious, and the year-on-year increase is obvious. The downstream demand is weak and the drive is still insufficient. Shen Yin wanguo Pay attention to the drive of consumption in the market outlook and the adjustment of upstream supply. From a medium-term perspective, observe the effects of changes in real estate policies. The market outlook pays attention to the process of supply and demand adjustment, especially the adjustment degree of supply side and inventory changes. Zhengxin futures Short-term partial overhaul and improved shipping margin have slowed down the accumulation of soda plants, but the absolute inventory is still high. Recently, the disk surface has stabilized slightly but the support is expected to be limited. Under the expectation of future supply improvement, the medium-and long-term trend of soda ash has not changed. However, 01 can be traded for a long time and some valuations have been digested in the early stage, and the subsequent tradable logic has increased, and the decline may not be smooth. Hongye futures After the soda ash disk bounced back, it was suppressed again, and the first line of 1600 was under pressure. The maintenance of the enterprise continued, and the supply was low. During the week, the output of soda ash was 673,500 tons, a decrease of 15,700 tons from the previous month. Both downstream float and photovoltaic production lines are expected to be repaired by cooling water.

Will Dongfeng Peugeot, whose brand is gradually being marginalized, be the next legal brand to withdraw from China?

When it comes to Dongfeng Peugeot, many people may be able to think of its glorious history, but when they think about why Dongfeng Peugeot, which had unlimited scenery back then, has suddenly become what it is today. In addition to the decline in the influence of the legal brand, Dongfeng Peugeot itself also has some problems that cannot be ignored.

Taking Peugeot’s 508 model as an example, the Peugeot 508, as a sports-grade sedan, has frameless doors and hatchback tailgates that emphasize sports models in overseas markets. However, when the Peugeot 508 arrived in China, Dongfeng Peugeot cancelled the design of the 508 frameless door and hatchback tailgate, and adopted an ordinary sedan design scheme to become the Dongfeng Peugeot 508L. Although this approach will save the cost of vehicle construction, it will also reduce the competitiveness of its own products in disguise, which also makes it difficult for everyone to choose such a model that is introduced and reduced after weighing.

The lack of cost-effectiveness and the lack of comprehensive strength

Today’s Dongfeng Peugeot can be said to be facing a dilemma, that is, when major car companies are competing fiercely in the market, Dongfeng Peugeot’s brand influence and vehicle cost performance are difficult to compete with other brands. Whether it is Peugeot 408, 508L sedans, or Peugeot 2008, 4008 or even 5008 SUV models are unable to give consumers a satisfactory price/performance ratio. Coupled with today’s market changes, more and more models with excellent cost performance continue to emerge, which invisibly brings a lot of competitive pressure to Dongfeng Peugeot. If it cannot launch a model that can turn the tide, it may eventually die out in the automotive market.

Peugeot’s current predicament, in addition to the lack of cost-effectiveness, is also a major problem in terms of its comprehensive strength. The 1.2T, 1.6T and 1.8T engine technologies carried by its models have not undergone major upgrades for many years. The replacement of each model is more like a change in the interior and appearance. The intrinsic essence seems to be the same old thing, and even not as good as the old models of the year. Today’s consumer market is gradually moving towards a younger age. Major manufacturers compete more on the performance and cost-effectiveness of vehicles, while Dongfeng Peugeot, which is technologically backward, wants to survive in China. Perhaps it is really time to think hard and think about what kind of model consumers want.

The external environment is gradually compressing Peugeot’s living space

With the electrification reform of the automobile market, a large number of new car-making forces have emerged, and the status of established car companies has brought a complete reshuffle. Today’s traditional companies have to face a cruel fact – only in the field of automotive electrification reserve knowledge, traditional car companies are not much ahead of new car-making forces. Peugeot is more like half a beat slower than other car companies, and has not yet come up with a bright pure electric model, which has directly become the culprit of Dongfeng Peugeot’s gradual loss of competitive advantage with the market.

Automotive Network Review: Dongfeng Peugeot urgently needs a model that can break the game

The future of Dongfeng Peugeot in China is worrying. The accelerated development of domestic automakers has already had a great impact on joint venture automakers. For Dongfeng Peugeot, which lacks cost performance and brand reputation, the impact is self-evident. If Dongfeng Peugeot cannot come up with a model that has regained market recognition in a short period of time, Dongfeng Peugeot is really not far from the day it withdraws from the Chinese market.

Mu Changchun, director of the digital currency Research Institute of the Central Bank: The central bank must speed up its pace and provide digital currency services

Reporter | Si Linwei
According to the 21st Financial Report, at the Innovation Summit of the Bank for International Settlements (BIS) held on March 25th, Mu Changchun, director of the digital currency Research Institute of the People’s Bank of China, said that in order to provide another backup or backup for the retail payment system, the central bank must speed up the pace and provide digital currency services.
In this meeting, many central bankers around the world, including Federal Reserve Chairman Powell, German central bank governor Weidemann, European Central Bank president Lagarde, current Bank of England governor Bailey and former Bank of England governor Carney, attended the meeting and delivered speeches. Studying the Central Bank digital currency (CBDC) is the core topic of this meeting.
As one of the top spokesmen of the US dollar system, the current Federal Reserve Chairman Powell is not enthusiastic about the attitude of the central bank digital currency. At the meeting of the Bank for International Settlements (BIS), he said: "We don’t have to rush the central bank digital currency, and the Federal Reserve doesn’t need to be the first central bank to launch the digital currency."
In contrast, China’s digital RMB has made rapid progress. On March 25th, as the second batch of pilot cities of digital RMB in China, some banks in Changsha have started to launch related businesses of digital RMB. At present, Changsha has realized a variety of scenarios to support digital RMB transactions, including public payment such as gas, and some consumption scenarios such as supermarkets, restaurants, long-distance passenger transport, gas stations, and postal express delivery and tourism.
Among the major central banks in the world, the layout of digital currency, the Bank of China, is very forward-looking and has made the fastest progress. Since 2014, the People’s Bank of China has set up a special team to conduct special research on digital currency’s distribution framework, key technologies, distribution and circulation environment and related international experience. By the end of August 2020, there were more than 6,700 ten-point scenes in China, with a total transaction volume of over 1.1 billion yuan and more than 3.12 million transactions.
With the continuous opening up of a batch of pilot cities, we can feel that the digital RMB is at the ready-to-go node, but the official launch time of the digital RMB is not clear at present. In May, 2020, Yi Gang, governor of the People’s Bank of China, said that the current pilot test of digital RMB is just routine work in the research and development process, which does not mean that digital RMB is officially launched, and there is no timetable for its official launch.
Digital RMB will coexist with electronic payment, but it will be more anonymous.
Regarding the technical features of digital RMB, Mu Changchun, director of digital currency Research Institute of the Bank of China, said at the China Development Forum on March 20th that in the foreseeable future, paper money, electronic payment and digital RMB will coexist. At the same time, the digital RMB is loosely coupled with the bank account, which can technically realize small anonymity. The protection of users’ privacy by digital RMB is the highest among the existing payment tools.
Mu Changchun said that the current payment tools, whether bank cards, WeChat or Alipay, are all tied to the bank account system, and the bank account is opened in real-name registration system, which cannot satisfy the anonymous appeal. Digital RMB is loosely coupled with bank account, which can technically realize small anonymity.
"The first meaning of controllable anonymity is anonymity, which should meet the needs of reasonable anonymous payment and privacy protection. The digital RMB wallet is designed by classification, and different levels of digital wallets are opened according to the degree of KYC (fully understanding your customers) to meet the different payment needs of the public. Among them, the wallet with the weakest KYC strength is an anonymous wallet, which can be opened only by using the mobile phone number. The balance and daily transaction limit of this kind of wallet are also the lowest, which can only meet the daily small payment needs. If you want to make a large payment, you need to upgrade your wallet, and the wallet balance and payment limit will increase with the strength of KYC. The consideration of this design is to meet the public’s reasonable privacy protection needs on the one hand, and to prevent the risk of large suspicious transactions on the other hand. " Mu Changchun explained.
Digital RMB still needs legal protection.
In addition to the technical pilot, the progress of digital RMB at the legal level has also attracted attention.
At present, regarding the definition of digital RMB, Mu Changchun, director of the digital currency Research Institute of the Central Bank, once explained that digital RMB is legal tender in digital form issued by the People’s Bank of China, operated by designated operating institutions and exchanged for the public. Based on the generalized account system, it supports the loose coupling function of bank accounts, is equivalent to paper money coins, has value characteristics and compensation, and supports controllable anonymity. The concept of digital RMB has two key points. One is that digital RMB is legal tender in digital form; Another point is that it is equivalent to paper money and coins. The digital RMB is mainly located in M0, that is, cash and coins in circulation.
On October 24th, 2020, the People’s Bank of China Law and the Draft for Comment, which were solicited by the People’s Bank of China, intended to expand the scope of RMB to include the digital RMB in the legal tender (Article 19).
In this regard, the special commentator of Phoenix Satellite TV and lawyer Jin Yan of Guangdong Oriental Jinyuan Law Firm told Interface News that there is only a short distance from the legal digital currency to achieve wide application, but there is still a long way to go in terms of laws and regulations. Before the large-scale spread of digital currency, it is inevitable to amend the law. But before that, digital currency needs to go through a lot of checks on legality. In order to circulate on a large scale, we need to solve the problem of its legal basis. "According to my judgment, in the revision of laws and legislation related to digital currency, the relevant departments will also follow the principle of’ equal treatment with real money’." Lawyer Jin Yan said.
First of all, we should solve the problem of correcting the name. For example, the first paragraph of Article 4 of the People’s Bank Law of China authorizes the People’s Bank of China to issue RMB on behalf of the country, manage the circulation of RMB, and exercise the right of currency issuance. Article 2 of the RMB Management Regulations states that the currency issued by the central bank according to law includes paper money and coins, and there is no legal tender in digital form. This means that according to the current law, there are only two physical forms of RMB: paper money and coins, excluding the intangible digital currency. Furthermore, there is no legal support for digital currency’s legal compensation. Therefore, it is urgent for digital currency to be granted legal status, otherwise it will be difficult to implement.
In addition, the issue of inheritance in the Civil Code implemented this year also involves legal digital currency. The inheritance part of the Civil Code has adjusted the scope of inheritable heritage, changing the "citizens’ income, houses, trees, cultural relics and copyrights" stipulated in the previous inheritance law into a "package" formulation-heritage is the personal legal property left by a natural person when he dies. Lawyer Jin Yan said that this general form of legislation made digital currency also classified as inheritable property.
The internationalization of digital RMB has been laid out in advance.
On January 16th, 2021, according to public reports, SWIFT, together with China People’s Bank Clearing Center, Cross-border Inter-bank Payment and Clearing Co., Ltd., digital currency Institute of the Central Bank and China Payment and Clearing Association, established Financial Gateway Information Service Co., Ltd., with Mu Changchun, director of digital currency Institute of the Central Bank, as one of the directors.
The shareholders of Financial Gateway Information Service Co., Ltd. are SWIFT, Clearing Center of China People’s Bank, Cross-border Inter-bank Payment and Clearing Co., Ltd., China Payment and Clearing Association and digital currency Research Institute of China People’s Bank in descending order.
SWIFT is a non-profit cooperative organization among international banks, headquartered in Brussels, Belgium, which mainly provides financial message network services for international financial business. Banks and other financial institutions complete financial transactions by exchanging messages with their peers through SWIFT network. It is the most important institution for international cross-border payment and settlement business at present.
On March 16th, according to the Cailian News Agency, Raymond Yue, President of the Hong Kong Monetary Authority, said that the HKMA and the digital currency Institute of the People’s Bank of China are studying the technical test of using digital RMB for cross-border payment and making corresponding technical preparations.
Reporting/feedback

The pre-sale price of Geely Xingrui Boom Edition is 112,800 yuan.

  [Aika Auto Domestic New Car Original]

  On June 8, Geely Automobile’s compact car — — Xingrui Boom Edition officially opened for pre-sale, with a pre-sale price of 112,800 yuan. At the same time, you can also enjoy four super-booking privileges: "You can enjoy the exclusive green car color with a value of 2,000 yuan for free when you place an order before June 30", "The first owner can enjoy free basic maintenance for 3 years or 60,000 kilometers", "50,000 interest for 24 limited periods, with a discount of up to 5,000 yuan" and "the repurchase subsidy is up to 6,000 yuan". In addition, the official has confirmed that the new car will be officially listed on June 18.

Xingrui whirlwind edition

  Stylistically, Xingrui Boom Edition continues the high-end atmosphere, fashionable and elegant design style. The front face adopts a brand-new waterfall front grille design, and the internal straight waterfall chrome trim is more stereoscopic and full. At the same time, the new car LED light source headlights with the upper daytime running lights have a good recognition after lighting. In addition, the new car has also added the exclusive color of "Caiqing".

Xingrui whirlwind edition

Xingrui whirlwind edition

  The overall lines on the side of the new car are simple, and a slightly raised waistline extends from the front fender to the taillights. With the implementation of the lower waistline of the front and rear doors, the whole side looks more layered. The body size of the new car is 4785*1869*1469mm and the wheelbase is 2800 mm. The taillights at the tail are connected by silver chrome-plated strips, which stretch the width of the tail, and the exhaust layout of two sides makes the overall appearance more visual tension.

Xingrui whirlwind edition

  In terms of interiors, the new car is basically the same as the current model. The multi-function steering wheel with a 12.3-inch central control screen looks full of technology. In addition, the new car is covered with soft leather materials in the seats, door panels, roof and other places to enhance the sense of grade. In terms of configuration, the new car is equipped with Geely Galaxy OS system, which supports intelligent voice interaction, Huawei Ecology, OTA online upgrade and other rich functions. It is also equipped with Bluetooth key +App remote control system, God’s Eye 540 transparent chassis, CCS cruise control system, 12.3-inch central control screen, 8 speakers in the whole car, G-clean intelligent ecological health circle, AQS air quality management system and automatic constant temperature air conditioning in dual temperature zones.

Xingrui whirlwind edition

Xingrui whirlwind edition

  In terms of power, Xingrui Boom Edition is equipped with a 1.5T turbocharged engine, with a maximum power of 133kW(181 HP) and a peak torque of 290Nm, and matched with a 7-speed wet dual-clutch gearbox, with a comprehensive fuel consumption of 6.2L per 100 kilometers.

Xingrui whirlwind edition

  Editor’s summary: Geely Xingrui has always had a very strong competitiveness in the compact automobile market. Now the launch of the whirlwind model will further lower the entry threshold of Xingrui models and bring consumers more choices of models.

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