Hu Xijie, former Vice Minister of Communications and former General Manager of China International Engineering Consulting Co., Ltd.

　　Zhao Xufeng of China International Engineering Consulting Co., Ltd.

　　Transportation is a basic, leading and strategic industry and an important support and strong guarantee for economic and social development. Over the past 40 years, China has adhered to the basic national policy of reform and opening up, and has made unprecedented achievements in terms of transportation infrastructure scale, transportation service quality, technology and equipment, as well as the transformation of development concepts, institutional innovation and market-oriented development, creating the "China Speed" and "China Model" that attract worldwide attention in the world transportation history.

　　First, 40 years of rapid development of transportation.

　　From the "bottleneck" restriction in the early days of reform and opening up to the current adaptation to economic and social development, transportation productivity has been greatly liberated and developed.

　　(1) Infrastructure ranks among the top in the world.

　　In the 40 years of reform and opening up, China’s transportation infrastructure construction has made great achievements, and various modes of transportation have achieved rapid development. The mileage of high-speed railways, expressways, urban rail operations and the number of 10,000-ton berths in ports rank first in the world, and the number of airports and pipeline mileage rank first in the world, which has become an important support for socialist modernization.

　　1. Modern high-speed railway network

　　At the beginning of reform and opening up, the mileage of China’s railway network was only 51,700 kilometers. At the end of 2003, the scale of China’s railway network reached 73,000 kilometers, an increase of about 20,000 kilometers in 25 years. The Medium and Long-term Railway Network Planning was implemented in 2004, and China’s railways entered a stage of rapid development. The Qinghai-Tibet Railway with the highest altitude in the world was completed in 2006, and China’s first high-speed railway — — The Beijing-Tianjin intercity railway opened in 2008, which opened the prelude to the era of high-speed rail in China. The Beijing-Shanghai high-speed railway, which was completed and opened to traffic in 2011, has the highest commercial operation speed and the longest mileage in the world.

　　Since the 18th National Congress of the Communist Party of China, China’s railways, especially high-speed railways, have developed rapidly. The operating mileage of high-speed railways has increased from 0.97 thousand kilometers in 2012 to 25 thousand kilometers in 2017, an increase of 1.58 times. In 2017, Fuxing, which has completely independent intellectual property rights, ran on the vast land of the motherland. China’s high-speed railway has achieved a leap-forward development from scratch to the first in the world in a short time, and has become a bright business card that shines in the world. By the end of 2017, the national railway operating mileage was 127,000 kilometers, including 25,000 kilometers of high-speed rail, accounting for two-thirds of the world’s high-speed rail. The main channels of "four vertical and four horizontal" high-speed rail were all connected ahead of schedule, and the high-speed rail covered more than 65% of cities with a population of one million. At present, China has the most modern railway network and the most developed high-speed rail network in the world.

　　2. Highway network extending in all directions

　　In the 40 years of reform and opening up, China’s highway construction has made rapid progress. In 1978, the total mileage of highways in China was 890,000 kilometers, and the highway density was 9.27 kilometers/100 square kilometers. In 1988, the first expressway — — The Hujia Expressway was completed and opened to traffic. By the end of 2012, the national expressway mileage had reached 96,200 kilometers.

　　Since the 18th National Congress of the Communist Party of China, China’s highway construction has made brilliant achievements. The total mileage of highways has increased by 530,000 kilometers, and the number of expressways has increased by 40,000 kilometers. The expressways cover 97% of cities with a population of 200,000 and administrative centers at the prefecture level. The highways above the second level reach 96.7% of counties, 99.99% of townships (towns) and 99.98% of villages. By the end of 2017, the total mileage of national highways was 4,773,500 kilometers, and expressways ranked first in the world with a mileage of 136,500 kilometers. The national highway network density reached 49.72 kilometers/100 square kilometers. In the past 30 years, China’s expressway development has attracted worldwide attention, creating a miracle in the world expressway history.

　　3. Super Bridge and Tunnel Project

　　With the extension of traffic mileage, the record of "longest, highest and largest" has been written into the history of bridge and tunnel construction in the world, and "China Bridge and China Tunnel" has become a new brand to show the image of China.

　　At present, there are 5 and 6 longest-span suspension bridges and cable-stayed bridges in the world, respectively. In recent years, China has successively built a number of world-class long-span bridges such as Donghai Bridge, Jiangyin Yangtze River Bridge, Hangzhou Bay Cross-sea Bridge, Runyang Yangtze River Bridge, Sutong Bridge and Hong Kong-Zhuhai-Macao Bridge. Hong Kong-Zhuhai-Macao Bridge is the longest sea-crossing bridge in the world. Beipanjiang Bridge is the tallest bridge in the world. Dasheng Guangong Railway Bridge is the world’s first six-line railway bridge, and the double-span multi-arch railway has the largest span in the world. The Wufengshan Yangtze River Railway Bridge under construction has a main span of 1,120 meters, ranking first among suspension bridges in the world. The Hutong Yangtze River Bridge under construction will become the world’s first cable-stayed bridge with a span of more than 1000 meters.

　　In terms of tunnel construction, in recent years, China has successively built a number of the best in the world: the longest double-hole expressway tunnel in the world — — Zhongnanshan Tunnel in Qinling Mountains, the largest diameter shield tunnel in the world — — Shanghai Yangtze River Tunnel, the highest highway tunnel in the world — — Queershan Tunnel on Sichuan-Tibet Line, the longest plateau railway tunnel in the world — — Xinguanjiao Tunnel of Qinghai-Tibet Railway, the highest high-speed railway tunnel in the world — — Qilian Mountain Tunnel, the largest road tunnel in the world — — Gongbei Tunnel of Hong Kong-Zhuhai-Macao Bridge, the longest submarine immersed tunnel in the world — — Immersed tunnel of Hong Kong-Zhuhai-Macao Bridge.

　　4. Advanced large-scale ports

　　In 1978, there were 735 production berths in China’s major ports, including 133 deep-water berths of 10,000-ton and above, and there were no berths of 10,000-ton and above in inland rivers. After 1985, large-scale and specialized ports entered a stage of rapid development; By 2012, there were 31,862 berths for production terminals in ports across the country, including 1,886 berths of 10,000-ton class and above (369 for inland rivers).

　　Since the 18th National Congress of the Communist Party of China, the intelligent level of China’s ports has obviously accelerated, with 480 berths above 10,000 tons increasing, with an average annual increase of 96 berths, and 133 berths above 100,000 tons increasing. By the end of 2017, the national ports had 27,578 berths for production, including 2,366 berths of 10,000-ton class and above (418 inland rivers). The fully automated container terminal in Yangshan Port Area of Shanghai Port, which was put into operation in 2017, is the largest and most automated container terminal in the world. At present, seven of the top ten ports in the world are located in China. In 2017, Shanghai Port ranked first in the world with a throughput of 40.3 million TEUs, Shenzhen Port, Ningbo Zhoushan Port and Hong Kong Port ranked third, fourth and fifth, and Guangzhou Port and Qingdao Port ranked seventh and eighth. China’s modern large-scale ports play an important role in the construction of the Belt and Road Initiative.

　　5. Smooth golden waterway

　　Since the reform and opening up, China’s inland waterways, such as the Yangtze River trunk line, the Beijing-Hangzhou Canal, the Xijiang River and the Xiangjiang River, have been systematically and comprehensively managed. Since 1982, China has been renovating the waterway of the Beijing-Hangzhou Canal. From Jining, Shandong Province to Hangzhou, Zhejiang Province, 500-ton ships can be navigable, and some sections of northern Jiangsu Province can be navigable with 1,000-ton fleets. At the end of 1990s, the Yangtze estuary deepwater channel regulation project started construction, which is by far the largest and most complicated estuary regulation project in the world. It was successfully completed in 2010. The 12.5-meter deepwater channel from the Yangtze estuary to Taicang was fully connected, and the cargo throughput of Shanghai Port and Jiangsu ports along the Yangtze River increased rapidly. The cargo volume passing through the Yangtze estuary increased from 220 million tons in 2000 to 1.02 billion tons in 2012. At the end of 2012, the navigable mileage of inland waterways nationwide was 125,000 kilometers, including 9,894 kilometers of third-class and above waterways.

　　Since the 18th National Congress of the Communist Party of China, relying on the golden waterway of the Yangtze River to promote the development of the Yangtze River Economic Belt has become a major national strategy. The construction project of the 12.5-meter deep-water waterway below Nanjing of the Yangtze River was started, which was completed and put into operation in April this year. It can realize the full navigation of 50,000-ton and above ships from Nanjing to the estuary of the Yangtze River, and push the seaport further inland, which is equivalent to an increase of nearly 800 kilometers of coastline, and realize the river-sea combined transport of the golden waterway in China on a large scale. At the same time, China has accelerated the waterway regulation project of Jingjiang reach in the middle reaches of the Yangtze River and the waterway from Chongqing to Yibin in the upper reaches. The Yangtze River has become the world’s largest and busiest navigable river. The waterway regulation project from Xijiang Jietou to Zhaoqing has been completed, so that 2000-ton ships can directly reach Guigang, Guangxi, and the capacity expansion and upgrading project from Xijiang Jietou to Zhaoqing will continue to be implemented, so as to achieve the goal of navigation for 3000-ton ships. The renovation project of the Beijing-Hangzhou Canal (Zhejiang section) has also been started, which will realize the direct connection of 1,000-ton ships from Shandong to Hangzhou.

　　6. Wide coverage of civil aviation

　　With the great historical process of China’s reform and opening up, China’s civil aviation has developed from a militarized industry to a modern air transport system that plays an important role in national economic and social development. In the early days of reform and opening up, China’s civil aviation was subordinate to the Air Force, with 78 civil airports. After the reform of management system in 1980, the civil aviation industry made great progress. By the end of 2012, there were 183 civil aviation airports and 178 cities with scheduled flights.

　　Since the 18th National Congress of the Communist Party of China, the number of civil aviation certification airports in China has increased by 46, with an increase of 25%. As a new power source for national development, the Capital New Airport has been successfully capped. By the end of 2017, there were 229 certified airports for civil aviation in China, including 228 airports for regular flights and 224 cities for regular flights, with a fleet of 3,261 aircraft and a mileage of nearly 7 million kilometers. Civil aviation services covered 88.5% of prefecture-level cities and 76.5% of counties in China. There are 784 international routes and 61 countries (167 international cities) with regular flights. In 2017, the passenger throughput of Capital International Airport was 95.79 million, ranking second in the world, Hong Kong International Airport and Shanghai Pudong International Airport ranked eighth and ninth respectively, and Guangzhou Baiyun International Airport ranked thirteenth. As an integral part of China’s comprehensive transportation system, air transportation has developed from a subordinate supplementary position to a popular means of transportation.

　　7. Developed urban rail transit

　　The construction of urban rail transit in China began from 1950s to 1970s, and until the end of 1980s, there were only 40km subways in Beijing and Tianjin. From the last century to the late 1980s and early 1990s, marked by the construction of Shanghai Metro Line 1, Beijing Metro Line 8 and Guangzhou Metro Line 1, China really started the construction of urban rail transit for traffic purposes. At the beginning of the 21st century, Beijing, Shanghai and Guangzhou have a total mileage of 105 kilometers. By the end of 2012, 70 rail transit lines have been opened in 17 cities in China, with an operating mileage of 2,064 kilometers, including 1,726 kilometers of subway lines.

　　Since the 18th National Congress of the Communist Party of China, the operating mileage of urban rail transit in China has increased by nearly 3,000 kilometers, 2.4 times that of the end of 2012. By the end of 2017, 165 urban rail transit lines had been opened in 34 cities in China, with an operating mileage of 5,033 kilometers, including 3,884 kilometers of subway lines. Shanghai rail transit has a mileage of 732 kilometers, ranking first in the world; Beijing rail transit has a mileage of 685 kilometers, ranking second in the world; Guangzhou and Nanjing ranked fifth and sixth respectively. At present, the operating mileage and mileage under construction of urban rail transit in China rank first in the world.

　　8. Vertical and horizontal interwoven oil and gas pipeline network

　　In 1958, the first long-distance crude oil pipeline was built in New China. In 1978, the mileage of oil and gas pipelines in China reached 8,300 kilometers. With the reform and opening up, China’s major oil and gas fields have entered the peak of exploration and development, which has greatly promoted the construction of long-distance oil and gas pipelines and other storage and transportation facilities. At the end of 2012, the mileage of oil and gas pipelines in China reached 90,000 kilometers.

　　Since the 18th National Congress of the Communist Party of China, the construction of oil and gas pipelines in China has been accelerated in an all-round way. By the end of 2017, 23,800 kilometers of crude oil pipelines and 26,000 kilometers of refined oil pipelines have been built nationwide. The total mileage of long-distance natural gas pipelines is nearly 74,000 kilometers (excluding provincial pipeline networks), reaching a total of 123,800 kilometers. The backbone oil and gas pipeline network basically constitutes the pattern of "transporting oil from the west to the east, transporting oil from the north to the south, transporting gas from the north to the east, transporting gas from the north to the south, transporting gas from Myanmar to the north, and landing by sea and gas", which has played an important role in ensuring China’s energy security and promoting China’s economic and social development.

　　(B) the rapid growth of passenger and freight transport.

　　In the 40 years of reform and opening up, both passenger traffic and freight volume have made great progress, which is not only an objective fact that the rapid economic and social development has driven huge transportation demand, but also an achievement that the rapid development of transportation infrastructure has greatly improved transportation capacity. At the same time, it is also a remarkable effect of the continuous reform and opening up of transportation to release productivity, and transportation has played a very important role in ensuring economic and social development.

　　1. The quality of passenger transport has improved significantly.

　　In 1978, the total passenger traffic in China was only 2.54 billion person-times, and the passenger turnover was 174.3 billion person-kilometers. With the economic and social development and the liberalization of the passenger transport market, the passenger traffic increased rapidly. By 2012, the passenger traffic in China reached 38 billion person-times and the passenger turnover reached 3,338.3 billion person-kilometers, which increased by 15 times and 19 times respectively compared with the initial stage of reform and opening up.

　　Since the 18th National Congress of the Communist Party of China, the quality of Chinese tourists’ travel has been significantly improved, and the people’s sense of happiness and gain has been continuously enhanced. By the end of 2017, the passenger traffic of the whole society was 18.486 billion person-times, and the passenger turnover was 3,281.2 billion person-kilometers. With the rapid development of high-speed railway, the passenger volume of railway increased from 1.89 billion in 2012 to 3.08 billion in 2017, an increase of 63%, and the passenger turnover increased from 981.2 billion person-kilometers to 1,345.7 billion person-kilometers, an increase of 37%. The proportion of high-speed train emus reached 56.4%, and China’s railway passenger turnover ranked first in the world. With the continuous improvement of people’s living standards, the passenger volume of civil aviation increased from 320 million in 2012 to 550 million in 2017, an increase of 71.9%, and the passenger turnover increased from 502.5 billion person-kilometers to 951.2 billion person-kilometers, an increase of 89.3%. The proportion of civil aviation passenger traffic and passenger turnover increased to 3% and 29% respectively, and China’s civil aviation passenger turnover ranked second in the world.

　　2. The freight efficiency is constantly improving.

　　In the early days of reform and opening up, the total annual freight volume of the whole society was less than 3.2 billion tons, and the freight turnover was less than 1 trillion tons kilometers. With the economic and social development and the liberalization of the freight market, freight transportation has developed rapidly. By 2012, the freight volume of the whole society reached 41 billion tons, and the freight turnover reached 17,380.4 billion tons-kilometers. The freight volume and freight turnover increased by 12.8 times and 17.4 times respectively compared with the initial stage of reform and opening up.

　　Since the 18th National Congress of the Communist Party of China, the freight volume of the whole society has increased by 15.2%, the freight turnover has increased by 10%, and the proportion of logistics cost in GDP has decreased from 18% in 2012 to 14.6% in 2017, a decrease of 3.4 percentage points. Transportation has further promoted the logistics industry to reduce costs and increase efficiency, which has played an important role in ensuring the quality and efficiency of the whole supply system. By the end of 2017, the freight volume of the whole society was 47.2 billion tons, the freight turnover was 19,258.8 billion tons kilometers, the road freight turnover accounted for 34.7%, the inland river and coastal freight turnover accounted for 7.76% and 14.8% respectively, the ocean freight turnover accounted for 28.6%, and the railway freight turnover accounted for 14%. China’s railway freight volume, road freight volume and turnover, port cargo throughput and container throughput all ranked first in the world. In recent years, with the rise of e-commerce, China’s express delivery industry has developed rapidly. In 2017, 40.056 billion pieces of express delivery were completed, ranking first in the world.

　　3. Urban traffic is more convenient

　　In the past 40 years of reform and opening up, with the rapid development of urbanization in China, China’s urban traffic has also achieved unprecedented development. At the end of 1980s, there were 61,400 buses and 114,000 taxis in China. In the past 40 years of reform and opening up, China’s urban public transport has developed rapidly, especially since the 18th National Congress of the Communist Party of China, new formats such as online car ride and bike-sharing have developed rapidly. By the end of 2017, there were 651,200 public buses and trams in China, of which 27.9% were natural gas vehicles, 13.2% were hybrid vehicles and 26.3% were pure electric vehicles. It has 1,395,800 taxis and completed 127.215 billion passenger trips in the city. In 2017, 34 cities across the country opened rail transit, with a total passenger volume of 18.48 billion passengers and a total passenger turnover of 151.5 billion person-kilometers.

　　Two, 40 years of transportation reform and opening up practice

　　The Third Plenary Session of the Eleventh Central Committee of the Communist Party of China held in December 1978 sounded the clarion call of reform and opening up and started the historical journey of reform and opening up. 40 years of unity, 40 years of hard work, 40 years of spring breeze and rain, China’s unswerving adherence to the basic policy of reform and opening up has promoted earth-shaking changes in China. The practice of 40 years of reform and opening-up has proved that "reform and opening-up is a key choice to determine the fate of contemporary China and an important magic weapon for the cause of the party and the people to catch up with the times in great strides".

　　Persist in emancipating the mind and seeking truth from facts. General Secretary of the Supreme Leader pointed out: "The process of reform and opening up is the process of ideological emancipation." "The people of China persist in emancipating the mind and seeking truth from facts, realizing the mutual agitation between emancipating the mind and reform and opening up, and promoting the mutual innovation of ideas and practical exploration, which fully demonstrates the powerful power of ideological guidance." In 1978, Comrade Deng Xiaoping delivered a speech entitled "Emancipating the Mind, Seeking Truth from Facts, Looking Forward with Unity", which clearly supported the "discussion on the standard of truth". In 1992, Comrade Deng Xiaoping pointed out in his talk in the south that we should not dwell on the issue of "surname capital" or "surname society". "The criterion of reform and opening up mainly depends on whether it is conducive to developing the productive forces of socialist society, enhancing the comprehensive national strength of socialist countries and improving people’s living standards". It is the emancipation of the mind again and again that has enabled China’s economic and social development to gain new vitality and motivation. Practice has proved that without emancipating the mind and seeking truth from facts, there will be no breakthrough in reform and an open mind. The Third Plenary Session of the 18th CPC Central Committee pointed out that there is no end to the development of practice, the emancipation of the mind and the reform and opening up. This further clarifies the decisive role of the market in resource allocation.And made a decision to comprehensively deepen the reform, and pushed the theory of reform to a new breadth and depth.

　　Adhere to the reform direction of market allocation of resources. The market-oriented reform of transportation is a main line running through the 40 years of transportation reform and opening up. In 1983, the Ministry of Communications put forward the reform policy of "everyone should take the boat when there is a river, and everyone should take the car when there is a road". "All departments, industries and regions should work together, and state-owned, collective, individual and various means of transport should go together", which broke through the shackles of ownership and allowed self-employed individuals to enter the transportation market, greatly promoting the development of transportation capacity and effectively alleviating the tension in transportation. In 1985, the railway carried out the "all-in-one contract". In 1986, the State Council approved the "Plan on Implementing the Economic Contract Responsibility System by the Ministry of Railways" by five ministries and commissions, and implemented the economic contract responsibility system of "building roads by roads". In 1993, the first joint-stock railway company — — Guangzhou-shenzhen railway Co., Ltd. was established and successfully listed in Hongkong and new york in 1996. In 1995, "Several Opinions on Accelerating the Cultivation and Development of Road Transportation Market" proposed to establish a unified, open and competitive road transportation system throughout the country. In 1996, the "Notice on Further Strengthening the Management of China’s Water Transport Market" proposed to promote the cultivation and improvement of the water transport market; The establishment of Shanghai Shipping Exchange is of great significance to standardize the trading behavior of shipping market, adjust market prices and deepen the reform of waterway transportation market. Since the 18th CPC National Congress,The transportation sector has accelerated the pace of market-oriented reform, actively promoted and deepened the "streamline administration, delegate power, strengthen regulation and improve services" reform, and effectively stimulated the vitality of market competition. In 2014, the Opinions of the Ministry of Transport on Comprehensively Deepening Transportation Reform focused on the main line of deepening reform, strengthened the top-level design, and deployed 42 reform tasks and more than 150 reform measures in terms of improving comprehensive transportation, establishing and improving the modern transportation market system, and transforming and upgrading transportation. In 2016, the Opinions on Further Deepening Civil Aviation Reform put forward 40 reform tasks in 10 aspects in the face of the new situation and new tasks of civil aviation development. In 2017, the Central Committee of the Communist Party of China and the State Council issued "Several Opinions on Deepening the Reform of Oil and Gas System", demanding that the fair access mechanism of oil and gas pipelines be further improved and the oil and gas pipelines be fair and open to third-party market players.

　　Adhere to the reform direction of diversified investment and financing. In the past 40 years of reform and opening-up, the field of transportation construction has been constantly deepening reform in the direction of broadening financing channels and diversified investment. In 1984, the fifty-fourth executive meeting of the State Council approved and agreed to raise the collection standard of road maintenance fees, levy vehicle purchase surcharges, and allow "road repair by loan and repayment by charge". These three things have important historical significance, which have provided a stable source of funds for highway construction and an environment for accelerating development. In 1983, the Ministry of Communications put forward the principle of "who invests, who uses, who benefits" and encouraged cargo owners to invest in the construction of docks. In 1986, the state decided to levy port construction fees on the goods of 26 coastal ports, and implemented the policy of "keeping ports in Hong Kong, so that the income can offset the expenditure", and the port construction funds had a stable channel. During the Seventh Five-Year Plan period, China’s first joint venture railway — — Sanmao railway started construction. In 1992, the State Council approved the Notice of the State Planning Commission and the Ministry of Railways on the Development of Central and Local Joint-venture Railway Construction, which defined the development mode of the central and local joint-venture railway construction. In 1991, the railway began to levy a construction fund of 2% per ton kilometer, and the railway construction funds were basically guaranteed. Apart from the "one-nine-system" preferential treatment, civil aviation construction is also exempted from all other taxes.It has successively formulated regulations allowing local governments, domestic enterprises and private capital to invest in civil aviation enterprises and airports, and carried out pilot reforms of local investment in the construction and management of airports. In 2004, the State Council promulgated the Regulations on the Management of Toll Roads, which fixed the policy of "building roads with loans and repaying loans with fees" through laws and regulations. At present, China’s transportation construction field has basically formed a diversified transportation financing pattern of "state investment, local financing, social financing and introduction of foreign capital".

　　Since the 18th National Congress of the Communist Party of China, in 2013, the State Council’s Opinions on Reforming Railway Investment and Financing System and Accelerating Railway Construction proposed to fully open the railway construction market and encourage social capital to invest in railway construction. Investment in oil pipeline construction is gradually released to third parties. In 2013, PetroChina introduced Taikang assets and 60 billion yuan of capital from the League of Nations Fund to establish "China Petroleum Pipeline Union Co., Ltd.". In 2015, the Guiding Opinions of the Ministry of Transport on Deepening the Investment and Financing Reform of Transportation Infrastructure proposed to establish and improve the investment and financing management system of "government-led, graded responsibility, diversified financing, standardized and efficient" for transportation development. In 2016, the Civil Aviation Administration of China’s Opinions on Encouraging Social Capital to Invest in the Construction and Operation of Civil Airports proposed that the market for the construction and operation of civil airports should be fully liberalized, and social capital should be widely attracted to participate in the construction and operation of civil airports and their service supporting facilities.

　　Adhere to the management system reform direction of separating government from enterprise. In the past 40 years of reform and opening up, the transportation management system has always been moving in the direction of separating government from enterprises and integrating comprehensive transportation. In 1980, civil aviation was placed under the management of the State Council by the army and began to take the road of enterprise. In 1984, the Ministry of Communications put forward a reform idea with "transfer, separation, liberalization" and "realizing two changes" as the main contents, realized the separation of government from enterprises, strengthened industry management, and established a five-level traffic administrative organization. Subsequently, 14 coastal ports and 26 key ports of the Yangtze River were all decentralized. In 1985, the State Council approved the Report on the Reform of Civil Aviation Management System, speeding up the reform of "separating government from enterprises" and "separating airports from airlines", and establishing an independent civil aviation air traffic management system by separating the Administration Bureau, airlines and airports. In 1993, the State Council approved Guangzhou Railway Bureau to set up Guangzhou Railway (Group) Company and set up a modern enterprise system as a pilot project. In 1995, Dalian Railway Co., Ltd. was established to actively explore the separation of railway administration from enterprise management. In 1996, the Ministry of Communications "Deepening the Reform of Water Transport Management System" proposed to promote the reform of water transport management system, set up a maritime bureau, and implement the management system of "one water, one supervision, one port and one supervision". In 1998, the two major petroleum and petrochemical groups reorganized, and the reform of oil and gas pipeline network continued to advance in the direction of marketization and specialization. In 2001,The Notice of the General Office of the State Council on Deepening the Reform of Port Management System Directly under the Central Government and under the Dual Leadership proposes that the port should be completely decentralized to local management. In 2002, civil aviation started the reform of "separation of government and capital" and "localization of airport". In 2005, the railway sub-bureau was abolished and the railway bureau directly managed the stations and sections, and the separation of railway administration from enterprises and the management of market entities continued to deepen. In 2008, the Civil Aviation Administration was abolished, and the Civil Aviation Administration was established and placed under the management of the Ministry of Transport. At the same time, the State Post Bureau was also placed under the management of the Ministry of Transport. Since the 18th National Congress of the Communist Party of China, the State Council has abolished the Ministry of Railways and established the National Railway Administration, which is managed by the Ministry of Transport. So far, the Ministry of Transport has managed the National Railway Administration, the Civil Aviation Administration of China and the State Post Bureau, and is responsible for coordinating the development of railways, highways, waterways, civil aviation and postal services, basically forming a "multi-department" management system for transportation.

　　Insist on the direction of opening to the outside world. At the same time of internal reform, the transportation sector is actively opening to the outside world. At the beginning of 1979, China Merchants, an enterprise affiliated to the Ministry of Communications, took the lead in establishing Shekou Industrial Zone in Shenzhen, which started the "first shot" of reform and opening up. In the early 1980s, foreign government loans and World Bank loans were introduced into China’s transportation construction. In 1983, the World Bank loans were introduced to the first-class highway from Xi ‘an to Sanyuan in Shaanxi for the first time, which not only introduced funds, but also introduced advanced project management systems in the world, such as project supervision system and project bidding system. In 1984, the electrification project of China’s North Tongpu Railway used the World Bank loan of 219 million dollars for the first time. Jinwen Railway Company was established in 1991. Jinwen Railway was the first railway in China to introduce foreign capital, and Hong Kong Lianying Industrial Co., Ltd. invested 45.86 million US dollars (80%). In 1988, the first Sino-foreign joint venture road transport enterprise was approved, and in 1993, the Interim Provisions on the Examination and Approval of Foreign-invested Road Transport Project was promulgated, further liberalizing the road transport market. Civil aviation began to open to the outside world in the 1990s. In 1994, the Notice on Policies Concerning Foreign Investment in Civil Aviation was promulgated, and in 2002, the Regulations on Foreign Investment in Civil Aviation was implemented to further open the civil aviation market. Since the 18th National Congress of the Communist Party of China, China’s transportation sector has been adhering to the "Belt and Road Initiative" and carrying the "five links".The major mission of "connecting facilities" is to actively promote the interconnection of transportation infrastructure, develop transportation to support the development of China’s foreign trade, and accelerate the "going out" of transportation. China-Europe trains galloped in Eurasia. By March 2018, the cumulative number of trains had exceeded 7,600, reaching 41 cities in 13 European countries, providing strong support for China’s new pattern of all-round opening up.

　　In addition, medium and long-term traffic development planning is also an important part of comprehensive traffic development road with China characteristics. At the end of 1980s, the Ministry of Communications put forward the development strategic plan of "three mainstays and one support", and the "Five Vertical and Seven Horizontal" national trunk line plan was approved and implemented by the State Council during the Eighth Five-Year Plan period, which is the plan with the highest approval level in the transportation system. In the 21st century, national-level plans have been issued one after another. In 2004, the State Council approved the Medium and Long-term Railway Network Plan and the National Expressway Network Plan, in 2005, the State Council approved the Rural Highway Construction Plan, in 2006, the State Council approved the National Coastal Port Layout Plan, and in 2007, the State Council approved the National Inland Waterway and Port Layout Plan, which promulgated China’s first comprehensive transportation plan — — Medium-and Long-term Development Plan of Comprehensive Transportation Network. In 2008, the State Council approved the National Civil Airport Layout Plan. After the 18th National Congress of the Communist Party of China, the State Council successively approved the new long-term planning of roads, railways, civil airports and oil and gas pipelines. The introduction of national medium-and long-term transportation planning not only ensures the national political, economic and national defense security, but also enhances the macro-control ability, integrates the superior transportation resources, and rationally arranges them, while ensuring scientific and orderly development.

　　Third, the new era opens a new chapter in the transportation power.

　　The 19th National Congress of the Communist Party of China has formulated a grand blueprint for building a socialist modern power in an all-round way and put forward a grand goal of building a transportation power. This is a strategic deployment made by the CPC Central Committee with the Supreme Leader as the core from the overall development of the cause of the party and the country, and it is a historical mission entrusted to transportation in the new era.

　　Building a transportation power is the inherent requirement of building a socialist modernization power and realizing the Chinese dream of the great rejuvenation of the Chinese nation. Throughout the history of human civilization, developed transportation has always been an important symbol of strong comprehensive national strength. "If you want to be rich, build roads first" reveals the law of traffic and economic development simply and profoundly. Building a transportation power in the new era gives a new historical connotation of "building roads first if you want to get rich", which means building a safe, convenient, efficient, green and economical modern comprehensive transportation system, meeting the people’s growing needs for a better life, supporting the construction of China’s modern economic system and taking the lead in building a socialist modern power. The two complement each other. A modern transportation power, "people can do what they want and goods can flow smoothly".

　　To build a strong transportation country, we must always adhere to the basic idea of reform and opening up. "Only reformers advance, only innovators are strong, but those who reform and innovate win." On the basis of 40 years’ practice of reform and opening up, we will unswervingly push forward the reform, deepen the structural reform of the transportation supply side, focus on promoting the quality change, efficiency change and power change of transportation development, and adhere to the road of high-quality development. Innovation is the first driving force to lead development. We should be brave in innovation in transportation development power, service quality, science and technology, governance mode, security, system and mechanism, and take the road of innovation-driven development.

　　Optimize and upgrade the infrastructure network. In the 40 years of reform and opening up, China’s transportation infrastructure has developed rapidly, and its scale ranks among the top in the world, making it a veritable transportation power. In the future, it will gradually change from "construction-oriented" to "operation and maintenance-oriented", and infrastructure construction will mainly "fill shortcomings" and optimize networks. Strengthen the application of modern science and technology in transportation infrastructure and vigorously promote the development of a new generation of digital and intelligent infrastructure. At the same time, we should pay attention to the maintenance and management of infrastructure and improve the quality and operational efficiency of transportation infrastructure.

　　Highlight the basic function of transportation in serving the economy and society. The basic function of transportation is to provide high-quality and efficient transportation services, which is also the most fundamental requirement of "strong country" in transportation. The structural reform of the transportation supply side should focus on meeting the people’s growing demand for high-quality transportation, providing safe, convenient and comfortable transportation services, and constantly enhancing the people’s sense of happiness, acquisition and security. The structural reform of transportation supply side should focus on meeting the needs of the construction of modern economic system, promoting the development of modern logistics, optimizing and adjusting the transportation structure, balancing various modes of transportation, and promoting the logistics of the whole society to "reduce costs and increase efficiency".

　　Public transport-oriented urban development model. Urban traffic congestion is a worldwide problem. With the acceleration of urbanization, traffic congestion is not only the "patent" of big cities, but also many small and medium-sized cities have begun to suffer from "urban diseases" of congestion. By the end of 2017, the number of cars in China had reached 217 million, with 53 cities having more than one million cars and 24 cities having more than two million cars. General Secretary of the Supreme Leader pointed out: "We should put solving the traffic congestion problem in an important position in urban development and accelerate the formation of a safe, convenient, efficient, green and economical comprehensive transportation system." "Developing public transportation is the direction of modern city development." We should adhere to the public transport-oriented urban land space planning, build a convenient and smooth three-dimensional urban transportation system, vigorously develop intelligent transportation technology, strengthen traffic demand management, and adopt a sustainable urban transportation development model.

　　Focus on developing advanced intelligent transportation. Intelligent Transportation System (ITS) is the development direction of future transportation system and a revolution in transportation. By integrating and applying advanced information, communication, sensing, control and other technologies, the interaction among people, vehicles and roads can be presented in a new way, thus achieving the goals of real-time, accuracy, efficiency, safety and energy saving. Cooperative intelligent transportation and autonomous driving will become the focus of intelligent transportation development in the future. We should vigorously implement the leading strategy of scientific and technological innovation, strengthen the application of basic research and the transformation of scientific and technological achievements, promote the deep integration of new technologies such as the Internet, big data and artificial intelligence with transportation, and accelerate the development of intelligent transportation in China.

　　Construct a modern comprehensive traffic management system. Modern comprehensive traffic management system is a "soft power" and a "hard requirement" for a traffic power. Coordinate various modes of transportation, innovate organization and management methods, establish a unified, open and competitive transportation market, and continuously promote the modernization of governance system and governance capacity. Apply modern scientific and technological means to improve the level of traffic management, information sharing and decision support. Strengthen the construction of traffic legal system and culture. Adhere to the concept of safe development, strengthen the construction of safety guarantee system and emergency rescue system, and consolidate the foundation of a strong transportation country.

　　In the 40 years of reform and opening up, the Chinese nation has achieved prosperity from standing up, greatly liberated and developed China’s social productive forces, and opened up the road to Socialism with Chinese characteristics, which fully proved that reform and opening up is the key choice to determine the fate of contemporary China, the source of vitality for the development and progress of contemporary China, an important magic weapon for the cause of the party and the people to catch up with the times in great strides, and the only way to uphold and develop Socialism with Chinese characteristics and realize the great rejuvenation of the Chinese nation. At present, standing at a new historical starting point, Socialism with Chinese characteristics has entered a new era, opening the road of the Chinese nation’s great rejuvenation and strengthening the country from being rich to being strong. Under the guidance of the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, we must unswervingly adhere to the road of Socialism with Chinese characteristics and unswervingly follow the correct road of reform and opening up, the road of strengthening the country and enriching the people. Adhere to the people-centered development thinking, constantly meet the people’s growing needs for a better life, and make the fruits of reform and development more fair and benefit all the people. In the new journey of winning the great victory of Socialism with Chinese characteristics in the new era, we will continue to strive for self-improvement and self-innovation, unswervingly deepen the reform in an all-round way, open roads on every mountain, bridge bridges when encountering water, carry out the reform to the end, strive to open a new chapter in the transportation power, and take the lead in building a socialist modern power.

　　[News] A few days ago, some media exposed a new car planning table of GM before 2020. It is reported that before 2020, GM wants to launch 60 brand-new cars and modified models in the US market, one third of which are models. Among them, it also includes many domestic models with high attention, including brand-new, brand-new ATS and brand-new. (In this paper, the names of various models in China are adopted.)

　　●
　　Summary: There are 9 cars, including 5 cars and 4 SUVs.

『』

　　In the second half of 2015, Buick has no plans to launch a new car. In the first half of 2016, Buick’s new soft-top Cascada will be officially put on the market. This car can be regarded as a rebranded version of/,and this car is Buick’s first convertible model in the past 25 years.

"Spy photos of new overseas test vehicles"

　　In the second half of 2016, Buick will launch four models to the market, including the new Verano, the new LaCrosse and the new model, and will also officially land in the US market during this period. Among them, the new LaCrosse test car has been exposed many times, and it will be officially unveiled at the end of 2015 at the earliest.

"Buick Cash Regal Overseas Edition"

　　In 2017, the brand-new Regal and the brand-new Regal will enter the American market. Among them, the new Regal will be built based on E2XX platform. In 2018, Buick may also bring a brand new one. In 2019, Angola will be replaced.

　　●　Cadillac
　　Summary: There are 16 cars, including 11 cars and 5 SUVs.

『』

　　After the independent operation of Cadillac brand, it is announced that a number of new cars will be launched one after another. In the second half of 2015, the new CTS-V and CT6 will be officially put on the market. Cadillac CT6 is the flagship model of Cadillac at present. This car is positioned between the 5-series Li and the 7-series Li. Its design is dynamic and high-tech configuration is rich, matching 2.0T, 3.0T and 3.6L power, which is worth looking forward to.

『』

　　In 2016, Cadillac will bring XT5, new ATS and new CTS. Cadillac XT5 is actually a replacement model. The new car has been exposed, which continues Cadillac’s diamond cutting line design and the overall design is very fashionable. In terms of power, it will be powered by a 2.0T engine with 276 horsepower and a 3.6L engine with 340 horsepower.

　　In 2017, Cadillac will launch a number of models. In addition to ATS convertible version, CT6 plug-in hybrid version and new Escalade, it will also bring two heavyweight products: brand-new and brand-new medium and large 7-seat SUV. These two cars will probably be named XT3 and XT6. XT3 will make up for the vacancy of Cadillac in this area, and it will compete with a series of luxury brand compact SUV models such as, and GLA in the future. XT6 will be built on the platform of Buick Encore, and will compete with other models after listing.

　　In 2018, Cadillac will bring a brand new car, which may be named CT2. In the same year, Cadillac ATS will also be replaced, and the new car may adopt the name of CT3.

　　In 2019, Cadillac’s new CTS will be put on the market, and the new car may be named CT5. At the same time, CT6 will also launch a diesel version. This year, Cadillac may launch one to expand its product line in SUV. It is worth mentioning that the CT7 (with uncertain name) model with higher positioning will also be launched this year, which will replace the CT6 as the flagship model and compete with derivative models and ultra-luxury brand models.

　　● /
　　Summary: There are 29 cars, including 13 cars, 10 SUVs and 6 pickups.

　　As a brand of GM, Chevrolet will launch a lot of products in the next few years, even exceeding the sum of Buick and Cadillac.

"Overseas Chevrolet brand-new Mai Rui Bao"

　　In the second half of 2015, Chevrolet will launch the brand-new Spark, brand-new Mai Rui Bao, brand-new and brand-new Camaro. In 2016, the new Mai Rui Bao will also enter the China market, and it will be sold together with the new Mai Rui Bao released at the same time. The new Volanda is a plug-in hybrid car. The appearance, interior and configuration of the new car have changed greatly compared with the previous generation, and it is likely to be introduced to the China market in the future. In addition to these cars, the diesel version /Canyon and the new 1500/Sierra 1500 pickup truck will also be available.

"overseas brand-new"

　　In 2016, Chevrolet also launched many products, including the new Cruze, the Cruze hatchback version, the new Mai Rui Bao hybrid version, the new Camaro convertible version, the new model, the new model and the new model. At the same time, Chevrolet and GMC will also launch the new Silverado 2500/Sierra 1500 pickup truck.

"New Chevrolet"

　　In 2017, some models launched by Chevrolet and GMC are new cars that are unfamiliar to everyone, including new models, new Equinox/in, new models/,new Yukon/Yukon XL and new Silverado 1500/Sierra 1500 pickup trucks. It is worth mentioning that in this year, it will launch a brand-new SUV, which is positioned between the current Chevrolet Equinox and the large SUV Traverse, and it is worth looking forward to in the future.

　　In 2018, Chevrolet and GMC will launch the new Silverado 2500/Sierra 1500 pickup truck, and there are no plans for other models. In 2019, it will launch brand-new Aiwei Europe, brand-new Chuangkuo, brand-new Tahoe/Suburban, brand-new Yukon/Yukon XL and brand-new Silverado 2500/Sierra 2500 pickup trucks. (Source: Geshi Auto Network; Compile/car home Chen Hao)

　　Read more:

　　Push a new entry-level model to expose Cadillac’s new car plan
　　//www.autohome.com.cn/news/201501/859852.html

　　Although the CCTV Spring Festival Evening in 2018 has come to an end, the discussion on the content of the party continues. From New Year’s Eve to today, all the programs in the program are occupying the hot search list in fancy, proving their influence with high popularity. Last night, Yang Dongsheng, director of CCTV Spring Festival Evening in 2018, Qin Xinmin, director of language program and director of song and dance program in 2018, accepted the WeChat interview of Mammoth reporter, responded to many questions from netizens and revealed the release process of many popular programs.

　　Q: The evaluation of this song and dance program has taken care of the appreciation needs of audiences of different ages. How was it initially considered?

　　A:I think the stage of the Spring Festival Gala is a national stage, which itself is to take care of different audiences, because it is not only for the whole country, but also for the audience of the world, so you can see that what we are pursuing this year is this kind of internationalization, and then it is fashionable, and then there is a mix of nationalization and pluralism.

　　Everyone says that the Spring Festival Gala is a rich New Year’s Eve dinner, a big meal. That’s just like every Chinese New Year’s Eve dinner on our table has a combination of vegetarian and vegetarian dishes, and then there are different flavors and different dishes. That’s actually the same in the Spring Festival Evening, not only for these viewers who have feelings for the Spring Festival Evening, but more importantly, we must attract the participation and attention of young viewers. It has gone through more than 30 years in the Spring Festival Evening, and we also hope that it can become the best companion for every family through this different style and variety of programs.

　　Q:tfboys"Me and"2035Have an appointment, is there any special meaning?

　　A:In fact, it is a theme song. When creating, we hope to convey positive energy to the society, but we don’t want to use a blunt way. We hope that it can be presented artistically. The style of the whole song is easy to spread and be accepted by young people. At the same time, we also found tfboys, three idols that young people have always liked, and they are all young people full of positive energy, because they will be the backbone of social development by 2035.

　　Q: After the Spring Festival Gala, are your concerns the same as you expected? What will be more unexpected? For example, Faye Wong’s gloves, did their styling directors give any comments?

　　A:I’ve been watching the internet since I woke up today. I actually love watching netizens’ spit. I think everyone’s interesting comments on the Spring Festival Gala are also good incentives for themselves. To be honest, some of your concerns are really different from what we thought. About this Faye Wong glove, it is really a place that I didn’t expect, but I also think what you said is quite interesting.

　　Q: Can you tell us about the process of being invited to Faye Wong to sing with Na Ying this time? Is there anything interesting behind the scenes?

　　A:Please come to Faye Wong and Na Ying this year. I think this may be an idea about the feelings of the Spring Festival Evening, because they first appeared on the stage in 1998, when I just entered CCTV. At that time, the work of the Spring Festival Gala left a very, very deep impression in my mind, and I think it is an excellent work. At the same time of this year’s whole layout of the Spring Festival Evening song and dance program, singing and dancing is not just about grasping the works. More often, we have to lay out the whole actors, that is, how to make the actors fit in well with the program. I think this stage of the Spring Festival Evening must not mean that everyone can sing their own songs casually. What really needs to be reflected on this stage is the director’s art and the director’s creativity, that is, what kind of ideas you have. You may be difficult to present on other programs, but it is possible to achieve it on the stage of the Spring Festival Evening, so at the beginning, we hoped to catch such a program this year, and we called it the design of highlight programs. Then I thought of "Meeting in 1998" and joining hands again after 20 years. With this idea, I began to communicate actively with them.

　　Basically at the same time, while communicating with Faye Wong, I was communicating with the elder sister. When I put forward this idea, everyone accepted it at once. They all felt that if two people came on stage again in 20 years, they would be very excited. So, it means that the three of us hit it off, and then everyone acted quickly.

　　In this program, they really have great support for the Spring Festival Gala. That sister has also made a lot of efforts for the creation and promotion of the whole lyrics and songs. When you see the subtitles, you will know that the lyrics of this song are actually written by Na Ying and Faye Wong, who collided with each other.

　　At first, we thought of a theme: "Reunion". When we get together again, we will feel what it is like. Are we expressing a reunion, a friendship, a passage of time or something? At that time, there were several versions of words in front of us, which were always running in. At last, I felt that maybe this was really a point in the process of communication and collision with the performer himself. No matter how time goes by, I think what the years can finally precipitate is a very good memory, so I have this work this year.

　　At that time, when we were communicating, even when we were composing, we also said that I hope this work, not a party song, can become a truly excellent music work. So, we are creating in this direction. I think this year’s "Time" works meet our expectations at that time. I was really excited when I first heard the demo, and I got goose bumps all over. Maybe it was because of this feeling. On the other hand, I think the two people really interpreted this work very well.

　　Q: "The Best Stage" performed by Bo Huang, William Chan and LAY received a very good response. From yesterday to today, it was also a hot search for fancy. How did you come up with this new group?

　　A:Some of the reactions after the show are actually expected, such as "The Best Stage". At the time of design, in fact, we expected it to be a bright spot on the stage of the Spring Festival Evening. Through the very, very dedicated and hard work of these three actors, I feel that the final effect has been achieved, and the form of dancing together is also the first time to appear on the stage of the Spring Festival Evening.

　　I have to say here that I think Huang Bo is really a very, very good actor, and he is also a very dedicated director. In this program, he devoted a lot of his own efforts. We had a meeting together, and then discussed the presentation from the initial lyrics to the stage, including the design of dance movements. He participated in the whole process and held a meeting with our director.

　　At the same time, two other young actors, William Chan and LAY, are also very cooperative. Today, when I saw comments on the Internet, they all said, "Wow, Brother Huang Bo is so handsome and dances so well." But in fact, everyone didn’t know that he really made great efforts. He practiced every day, including his design of every point, and he thought a lot about every movement. Then Wei Ting and Yi Xing also had a good idea and communicated immediately. We kept communicating, and finally this program was presented on this stage through everyone’s efforts.

　　Q: "Double Heroes" invited two martial arts masters, Wudang and Shaolin, to compete. This is also the first time that it was presented in the Spring Festival Evening. Is this a difficult process? Did the performance achieve the expected results?

　　A:Wushu program is an indispensable program form in the Spring Festival Evening, so how to innovate is really a difficult problem. If we just continue the last martial arts program, I think it’s easier, because China’s martial arts is really very strong, but how to make it present a different way, I think this is a very difficult thing.

　　Because there are a lot of observations and inspections in the early stage of the Spring Festival Gala. At that time, I saw the Shaolin monk group coming to Beijing to perform in the Great Hall of the People. In fact, since last year, we have had the idea of inviting the real Shaolin monk group to the stage of the Spring Festival Evening. So after seeing their performance, I went to Shaolin and went directly with the choreographer.

　　It’s really different to see it on the spot after you go. The real spirit of martial arts is different from the shock that martial arts kungfu brings to you. This program in Wudang is also directed by Dai Bing, one of the directors of this dance in this year’s Spring Festival Evening. He invited the inheritor of Wudang to perform this kind of balance beam performance in a program before, but Qingfengzi was the only one at that time. At that time, we thought that Shaolin’s kung fu was also very good, and Wudang’s Tai Chi combines femininity with femininity. Then we wondered if we could have a magical chemical effect if we combined these two forms this year. It is precisely because this way of balance beam has been used before, so it is an idea of this double hero meeting.

　　However, they encountered many difficulties in the whole rehearsal process, because Shaolin’s kung fu is that kind of rigid and hard kung fu, and it may not give full play to his advantages on the balance beam, so they rehearsed for a long time and also ran in for a long time. The final effect, I think, should be said to have reached 80% compared with the original idea at that time, but if there is a longer time to run in, it should be more exciting.

　　Q: Kung Fu boys from Tagou Wushu School in Henan Province.16year15Can you talk about your impressions and comments on these kung fu boys when you board the Spring Festival Evening for the second time?

　　A:Tagou Martial Arts School is actually an old friend of the Spring Festival Evening. Before that, everyone could see the name of Tagou Martial Arts School on the annual Spring Festival Evening martial arts program, and watched the growth of these children from generation to generation. Many performers of that year have become later teachers. This year, these two somersaults children participated in this year’s "I want to go to the Spring Festival Evening". The child in "I want to go to the Spring Festival Evening" challenged fifty somersaults on the spot, and then the scene exploded, and then there was applause, so we also included it as an element in the whole martial arts program design this year. We want to reflect the profoundness and profoundness of Chinese Wushu and the spirit of Chinese Wushu through this form of change and communication between different sects.

　　Finally, the program presented on the stage, I think that no matter what, in fact, all the actors have made a lot of efforts. There are several national Wushu champions among them. They all presented the best state to the audience with their very professional and dedicated spirit. I think this has also reached an expectation of our director group and I hope it can be recognized by the audience.

　　Q: Why did Jackie Chan and Jason Wu arrange a chorus? Some netizens think that their performance kung fu should be more exciting.

　　A:In fact, Jackie Chan and Wu Jingdu performed martial arts programs on the stage of the Spring Festival Evening respectively, but I think their chorus songs should appear for the first time this year.

　　Everyone thought that it was good for them to perform a kung fu together, but I felt that because China was chosen this year, it was actually hoped that this patriotic theme and positive energy work could be accepted by ordinary people, and that it could be sung and promote more positive energy in society. Who will sing it? In fact, who can better interpret this work and convey the idea we want to convey. So I thought of Jackie Chan and Jason Wu this year.

　　I saw a comment on the Internet today, which I thought was particularly well written. It said, "It’s the first time I saw a handshake between two powerful men." I think this may be the meaning of their interpretation of this work.

　　Q: How did the idea of Huang Xiaoming, Jerry Yan, Wallace Chung and Xia Liao come about? Is the process of four people on the same stage smooth?

　　A:The program of the four of them is the program of Shandong Branch, because the theme of Shandong Branch this year is traditional culture, so when selecting works, I chose two songs. One is Descendants of the Dragon, and the other is Glorious China. At the earliest, I wanted this actor from Hong Kong, Macao and Taiwan to present it together. Therefore, there will be the cooperation of these four people.

　　They are also very popular actors. I think the four of them also presented this work very well. Huang Xiaoming is a native of Shandong, but he is very active and cooperative. I think that as long as we are on the stage of the Spring Festival Gala, or everyone feels proud to stand here and be able to represent mainland actors, Hong Kong actors, Taiwan Province actors and Macau actors. Therefore, all the actors convey and interpret this work with sincere intentions.

　　Q: Some of the opening songs and dances were real families, such as Tong Liya and Chen Xiao. They were temporary groups, but the response was very good. What was the standard for inviting actors at that time? Anji Xiaoyu stole the camera, and even went on a hot search today. How did they perform during the rehearsal? Are you worried that it will be uncontrollable during the live broadcast?

　　A:The song after the opening dance is "New Year’s Eve". When the actors are matched, family, friendship and affection are taken into account. There are also singers and actors’ representatives, including representatives from Hong Kong and Taiwan. Tong Liya and Chen Xiao are just very good friends, and they are also very good actors.

　　Sha Yi Hu Ke family, I think two people are very serious and dedicated actors, and the two children are very cute. During the whole rehearsal this year, I think it really brought us a lot of tidbits. The little fish is really cute. He often dances or often gives us some different surprises. For example, we all saw it on the screen. He suddenly hugged his brother on that stage, and then when he was off stage, the two children had a good relationship and always brought a lot of joy to the crew.

　　In fact, I don’t worry that they can’t be controlled when they broadcast live, because I think that the two children are very good at tutoring at first sight. In fact, every time they rehearse, especially Anji is very, very serious. Then he often pats his younger brother to remind him that he should pay attention to this, and then he is particularly careful to remember his own words. They are really cute children. I think this year their family of four also added a lot of highlights to the opening program of the Spring Festival Evening.

　　Q: What are the criteria for the selection of language programs this year? How to choose a new generation of comedians and actors?

　　A:An important feature of language programs in the Spring Festival Evening is the degree of joy. It must be comedy, and it must bring joy to people on this night. Then, how can we meet more audience groups, pay attention to the Spring Festival Gala and provide our comedy programs for all audience groups, which determines what kind of actors we are looking for.

　　Because it is often said that the Spring Festival Evening is a big dinner, and it is difficult for many people to adjust, even so, we try our best to satisfy the appetite of the vast majority of viewers for comedy programs through our efforts. In this way, it will have actors that the old audience likes, and young people will have objects that the young people admire. According to these two criteria, the audience likes them first, so we will select the ones that the young people like in this year’s sketch actor community. At the same time, he has both stage performance experience and comedy performance ability.

　　Q: In terms of selection criteria, which is more important, funny or conveyed meaning? Are there any regrets that funny stalks are useless?

　　A:In fact, the two are an organic unity. If you only have laughter, it is a cheap laugh. If you only have meaning, it does not meet our artistic standards. Therefore, in the creation of language programs in recent years, we have a saying that we should not only talk about meaning, but also be interesting. In the organic unity of meaning and interest, we can complete the comedy program that our audience likes.

　　Q: This year’s Spring Festival Evening, some netizens have begun to sort out golden sentences, such as "Love keeps fresh by confession, love" in the essay "Learning to Drive"TAYou have to say it. ""This is not love, this is blindness "and so on. Were these golden sentences originally anticipated?

　　A:The golden sentence in "Learning Car" is something we didn’t imagine at first. As far as the law of creation is concerned, there may be two ways to create it: one is that in the process of creation, in the process of plot advancement, it naturally collides with the dialogue of this character. There may be another one, because there is a golden sentence, how to embed it into a reasonable plot that conforms to its production. Just these two ways, in Learning to Drive, I think he is a golden sentence produced in the process of creation.

　　Q: Every Spring Festival Evening, language programs are the most concerned by the public, and they are also the earliest form of programs. What are the criteria for language newcomers to choose?

　　A:In fact, everyone should know that over the years, we have a unified standard for actors in the Spring Festival Evening, that is, the four-no-use standard. This four-no-use standard is our basic premise. Under this premise, what kind of young actor we choose to be an actor in our language program in the Spring Festival Evening must also meet the first requirement. He is the actor we need for the characterization of this drama. Secondly, he can accomplish the task entrusted to him by this role well, and thirdly, he is a popular actor among young people.

　　Q: The African aunt is on fire. How did you think of letting Lou Naiming play this role before?

　　A:At first, we still wanted to use African actors, and our first target was Wolf Warriors 2, an African grandmother. However, in the process of contact, we found that she could not speak Chinese well, and the language program would not become a language program if the language expression was not good. However, it is difficult for us to find an actor who has both our language requirements and performance requirements, if he is a pure African actor.

　　At the right moment, at first, we positioned Lou Naiming as the director of this work. After she entered, when we discussed the actor of this sketch together, we were in trouble because we were looking for this old lady. At the planning meeting, our editor-in-chief Jeikiy suggested that Lou Naiming could play this role. At that time, she declined. But then, at our strong request, she tried it, but she didn’t expect it to be very brilliant.

Zhiji automobile /SIXGOD

In November, the hard-core off-road sales list was announced, with 20 models on the list. Among them, the tank 300 was overtaken by Leopard 5 and slipped to the second place; Looking forward to the sharp decline in U8 sales, only 278 units were sold, and the performance was not satisfactory; Although Ford Fierce Horse entered the top ten of the list, its sales volume failed to break through the thousand mark. Hongqi Guoyao was even worse, and almost fell to the bottom.

Leopard 5 successfully climbed to the top, tank 300 second, new energy off-road is more popular than pure oil models?

Specifically, Equation Leopard 5 performed well, ranking first with sales of 6,058 units per month, followed by Tank 300 and Tank 400 New Energy. These two models sold 5,397 units and 5,216 units respectively, and the sales gap was very small, showing the fierce competition in the market.

Maybe some netizens will wonder why Leopard 5, whose off-road performance is relatively inferior, is more popular than Tank 300 on the hard-core off-road sales list. The price ranges of the two cars overlap. Although the Leopard 5 is a new energy vehicle, it is equipped with BYD 1.5T plug-in system, and its comprehensive cruising range is as high as 1,200 km (NEDC), which not only has no endurance anxiety but also saves fuel, and the fuel consumption of the feed is as low as 7.8L/100km(NEDC).

In contrast, the tank 300 is more suitable for pure off-road enthusiasts because of its simple and durable structure and can withstand greater impact. As can be seen from the market trendThe demand of more users is only concentrated on light off-road rather than heavy off-road, which belongs to a relatively niche market.

In addition, two models, Tank 500 New Energy and Beijing BJ40, also made it into the top five of the list, with sales reaching 4,790 units and 3,993 units respectively.

The sales of Leopard 8 and Haval H9 were both cold, and Ford Fierce Horse failed to break through 1,000 units.

The sales volume of Equation Leopard 8 is 2,463 units, which is far less popular than Leopard 5 because of its high positioning (official price: 379,800-407,800 yuan). The performance of Haval H9 is similar to that of Leopard 8, with a sales volume of 2,328 units.

From the performance of the top models on the list, it can be seen that BYD is obviously inferior to Great Wall Motor’s reputation and user base in the hard-core off-road market segment, and the latter has higher market recognition in the field of new energy.

Prado and Ford Fierce Horse are both in the middle of the list, with sales of 1,904 units and 880 units respectively, and their overall performance is average, which failed to arouse enthusiastic response in the market; The sales of Tank 700 New Energy and Haval H5 hovered around 700 units, and failed to gain a firm foothold in the market.

Looking forward to U8′ s market downturn, Hongqi Guoyao and Beijing BJ80 are both he is my brother.

It is worth noting that the market performance of high-end models looking up to U8 declined, with sales of only 278 units. At the same time, the sales of paladin and Warriors are less than 200 units, and their appeal in the current market environment is very limited.

The performance of the last three models on the list is very bleak. Among them, the territory only achieved 70 sets of sales in a single month, and Hongqi Guoyao faced more severe challenges, with sales only staying at 6 sets. Its "he is my brother" BJ80 was also in trouble, and the market response was quite cold. Only 4 sets were sold in November, which was completely marginalized by the market.

Conclusion:Faced with these models with poor market performance, consumers need to be more cautious before buying to ensure that they can make rational and wise decisions.

The original article of Zhiyou Automobile, please contact us if you need to reprint it.

* The picture is from the Internet. If it is infringing, please contact the author to delete it. *

Automobile is a hot spot in the current automobile market, and major car companies are stepping up the layout and launching of various models to meet the needs and expectations of consumers.However, the price of pure electric vehicles has always been an insurmountable threshold, and many consumers have to give up the idea of buying or choose cheaper oil vehicles when facing the high price..

As a leading manufacturer of new energy vehicles in China, Chery Automobile has been committed to building cars with high cost performance and providing consumers with more choices and values. Recently, Chery Automobile officially launched a brand-new car-ICAR 03, which broke the price barrier of A-class pure electricity with a starting price of 109,800 yuan, even cheaper than the oil car of the same level, causing widespread concern and praise in the market.

So, what is the charm of Chery iCAR03, which can make the oil truck feel ashamed?? Let’s take a look.

Appearance: young, fashionable and dynamic.

The design of Chery iCAR03 fully conforms to the aesthetics and preferences of young consumers, and is full of fashion and dynamic atmosphere.. The body adopts a streamlined shape, with large wheels and tires, creating a sense of movement and strength. The front face adopts the family-style design of Chery automobile, with a closed air intake grille as the main part, and with daytime running lights, it forms a sharp "electric eye". A number of lines are used to outline the layering on the side of the car body, which increases the stability and aerodynamic performance of the car body. The rear end of the car adopts a penetrating taillight design, which echoes the front face and increases the recognition and visual effect of the rear end.

Chery iCAR03 has a body size of 4360×1820×1630mm and a wheelbase of 2630mm, which belongs to the standard size of A-class pure electric vehicles. However, it has great advantages in the same class, providing sufficient guarantee for the seating space and luggage space.In addition, Chery iCAR03 also provides a variety of colors and personalized modified models, so that consumers can build their own exclusive cars according to their own preferences and needs..

Interior: Strong sense of science and technology and high intelligence.

The interior design of Chery iCAR03 is also based on the theme of youth and technology, creating an atmosphere of futurity and intelligence. Black and gray are used in the car, creating a simple and advanced feeling. The center console is centered on a 12.3-inch LCD instrument panel and a 10.25-inch central touch screen, which integrates a variety of vehicle information and entertainment functions, and supports voice control and mobile phone interconnection, making driving more convenient and safe. The steering wheel adopts a three-spoke design, with multi-function buttons and shift paddles to make driving more flexible and comfortable. The seat is wrapped in leather, and at the same time, it provides functions such as heating, ventilation and massage, which makes the ride more comfortable and comfortable.

The interior space of Chery iCAR03 is also very spacious and comfortable. The front passengers can enjoy enough head and leg space, and the rear passengers can also have enough riding comfort. The trunk has a volume of 450L, which can meet the daily luggage demand, and at the same time, it can further expand the storage space by putting down the rear seats.In addition, Chery iCAR03 is also equipped with panoramic sunroof, keyless entry, one-button start, automatic air conditioning, wireless charging, rearview mirror heating, reversing image, car Bluetooth, car networking and other configurations to make driving more convenient and intelligent..

Power: strong performance and long battery life.

The power system of Chery iCAR03 is its biggest bright spot and advantage, and it is also a place where the oil truck is ashamed. Chery iCAR03 is equipped with a permanent magnet synchronous motor with a maximum power of 150kW and a maximum torque of 300N·m, and with a capacity of 60.5kWh, it can provide excellent power performance and endurance. According to official data, the 0-100km/h acceleration time of Chery iCAR03 is only 7.9 seconds, the maximum speed can reach 160km/h, and the cruising range under comprehensive working conditions is 510km. In fast charging mode, it can be charged to 80% in 30 minutes, and in slow charging mode, it can be fully charged in 8 hours. This kind of dynamic performance can be easily dealt with whether in the city or at high speed, and it can also effectively reduce the cost of car use and environmental pollution.

The power system of Chery iCAR03 is not only strong in performance, but also high in safety. Chery iCAR03 adopts the international leading battery management system, which can monitor the state and performance of the battery in real time, and has multiple safety guarantees such as overcharge protection, overdischarge protection, temperature protection and short circuit protection, effectively avoiding the aging and damage of the battery.In addition, Chery iCAR03 is equipped with ABS+EBD, ESP, TCS, HDC, HSA, TPMS, 360-degree panoramic image, adaptive cruise, automatic parking, active braking, blind spot monitoring, lane keeping, traffic sign recognition and other intelligent safety assistance systems, which can provide effective help and protection for drivers in various complex road conditions and environments..

: cost-effective, worth having.

Chery iCAR03

Chery iCAR03 is a pure electricity that makes the oil truck feel ashamed. With the starting price of 109,800 yuan, it broke the price barrier of A-class pure electricity, even cheaper than the oil truck of the same level, without sacrificing product strength and quality, and provided consumers with a cost-effective choice.So, how did the price of Chery iCAR03 get so low?? What are the unique advantages and strategies of Chery Automobile? Let’s unveil its mystery together.

Price: reasonable and affordable.

The price of Chery iCAR03 is its biggest selling point and attraction, and it is also the place where the oil truck is ashamed. The starting price of Chery iCAR03 is 109,800 yuan, and the highest price is 139,800 yuan. There are three versions to choose from, namely comfort version, luxury version and distinguished version. Such a price can be said to be very low and competitive in the A-class pure electricity market, even cheaper than the same level of oil vehicles. For example, the starting price of Honda CR-V, which is also Class A, is 169,800 yuan, and the highest price is 276,800 yuan, which is much more expensive than Chery iCAR03. The starting price of BYD Yuan EV, which is also pure electricity, is 149,900 yuan, and the highest price is 189,900 yuan, which is also much higher than Chery iCAR03.

So, how did the price of Chery iCAR03 get so low?? This has the unique advantages and strategies of Chery Automobile.First of all, Chery Automobile has a strong independent research and development capability, which is designed and produced by Chery Automobile in all aspects, such as motor, battery, electronic control, body and chassis, which can effectively reduce costs and improve efficiency, and at the same time ensure the quality and performance of products..Secondly, Chery Automobile has a perfect industrial chain and supply chain, from the procurement of raw materials, to the manufacture of parts and components, to the assembly of vehicles, all of which are completed by Chery Automobile itself or together with its partners, which can effectively reduce the costs of intermediate links and links, and at the same time ensure the supply and stability of products..Finally, Chery Automobile has a flexible market strategy, providing different products and services according to different market demands and consumers’ preferences, and at the same time, using the national subsidy policy for new energy vehicles to provide consumers with more concessions and benefits..

To sum up, the price of Chery iCAR03 is low and reasonable, affordable and well-founded, not by sacrificing product strength and quality, but by the unique advantages and strategies of Chery Automobile, providing consumers with a cost-effective choice..

: cost-effective, worth having.

Chery iCAR03 is a pure electricity that makes the oil truck feel ashamed. With the starting price of 109,800 yuan, it broke the price barrier of A-class pure electricity, even cheaper than the oil truck of the same level, without sacrificing product strength and quality, and provided consumers with a cost-effective choice. It is fashionable and dynamic in appearance, intelligent in interior technology, strong in power performance, long in endurance and perfect in safety configuration, which can be easily handled in cities or at high speed, and can also effectively reduce vehicle cost and environmental pollution.Chery iCAR03 is a confident pure electric SUV, and it is also a pure electric SUV worth owning. If you are looking for a pure electric SUV with high cost performance, then Chery iCAR03 is a good choice..

　　Xinhua News Agency, Hong Kong, June 29th: Work together to create the future — — Hong Kong celebrates the 25th anniversary of its return to the motherland.

　　Xinhua news agency reporter

　　Street view taken on the streets of Hong Kong on June 28th to celebrate the 25th anniversary of Hong Kong’s return to the motherland. Xinhua News Agency reporter Li Gangshe

　　National flags and regional flags are flying in the streets and lanes, red lanterns are hung on the footbridges in central ferry piers, fishing boats are cruising around the Victoria Harbour, and residents in the New Territories set up traditional large-scale flower cards, and the song "My motherland and I cannot be separated for a moment" is rippling in Victoria Park … … On the occasion of the 25th anniversary of China’s return to the motherland, Hong Kong is filled with festive atmosphere.

　　A good show to welcome the celebration.

　　On the morning of the 28th, Hong Kong was clear with blue sky and white clouds. Hong Kong fishermen celebrated the 25th anniversary of their return to the motherland, and the sailing ceremony of fishing boat cruise in Victoria Harbour was held at Tsim Sha Tsui Pier.

　　Despite the hot weather, the event attracted many citizens to participate. Mr. Guo, who lives in Tai Po, and his family came to the dock early in the morning and excitedly took a selfie at the fishing boat. "This year’s fishing boats are particularly festive!"

　　After the cruise began, the fleet of 25 fishing boats was divided into five phalanxes and set out from Tsim Sha Tsui. At the bow and stern of each fishing boat, the five-star red flag and the bauhinia regional flag are flying.

　　Yang Shangjin, the chairman of the Hong Kong Fishermen’s Mutual Aid Society and the post-80s generation, is an out-and-out fisherman’s child. At the launching ceremony, he sang the national anthem with the audience. He said: "The motherland is ours ‘ Home ’ . Thanks to the country’s concern and support for fishermen, let our lives live better. "

　　"The five-star red flag flutters in the wind, and the victory song is so loud … …” At the landmark locations such as Golden Bauhinia Square, Tsim Sha Tsui Cultural Center and Kai Tak Cruise Terminal, the 25th anniversary of the return of thousands of young people, jointly sponsored by 21 provincial associations in Hong Kong, was staged. The young people who participated in the activities dressed in uniform sang "Singing the Motherland" together, and expressed their patriotism and love for Hong Kong with loud singing and youthful attitude.

　　"In ‘ Flash ’ During the singing, I felt the love of the vast number of young people in Hong Kong for the motherland and the spirit of sincere unity and positive progress. " Hong Dingteng, director of the Youth Committee of the Federation of Fujian Associations in Hong Kong, said that we will continue to sing about a better life and work together to create a new future and a new chapter.

　　A large-scale theme exhibition hosted by Bauhinia Culture Group to celebrate the 25th anniversary of Hong Kong’s return to the motherland attracted more than 25,000 visitors in six days.

　　The film One Sky, which was made to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, was released recently. Zhuangcheng, the film producer, said: "Hong Kong is developing in a better direction. I hope this film can inspire Hong Kong compatriots’ feelings of home and country and work hard to create a better tomorrow."

　　The five-star red flag and bauhinia regional flag hung in Lidong Street, Hong Kong, shot on June 28th. Xinhua News Agency reporter Li Gangshe

　　The whole city is "China Red"

　　"Dreamers set off from the starting line and crossed the line at the foot of the Lion Mountain. May this Hong Kong be created together." On the big screen of Times Square in Causeway Bay, the theme song "Before" was played to celebrate the 25th anniversary of Hong Kong’s return to the motherland. A circular red festival poster was posted on the glass curtain wall of the building, and Mr. Lin took out his mobile phone to take photos as a souvenir.

　　Mr. Lin came to Causeway Bay on a tram with the slogan of warmly celebrating the 25th anniversary of Hong Kong’s return to the motherland printed on its body from the West Ring Road. On the streets of Hong Kong, many buses and trams have changed into red "new clothes". "Trams are issued from time to time ‘ Ding Ding ’ The sound, when slowly passing through the streets of Wan Chai, complements the holiday decoration of the tram station. " He said.

　　On Lidong Street on Hong Kong Island, on the streets of Tsim Sha Tsui East and Baili Avenue in Kowloon, five-star red flags and bauhinia regional flags are hung all over the streets, which are particularly bright against the blue sky and white clouds. People passing by can see a piece of "China Red" when they look up. Many Hong Kong citizens took photos and videos and posted them online, which was well received by netizens: "The scene is too shocking" and "inspiring" … …

　　Hong Kong in the night is festive and peaceful. The World Trade Plaza, the tallest building in Hong Kong in West Kowloon, is located in Sun Hung Kai Center and Central Plaza on Hong Kong Island. Rows of skyscrapers perform light shows, making the brightly lit Victoria Harbour more colorful and displaying the unique charm of the "Pearl of the Orient".

　　From July 1st, the special edition of the large-scale multimedia show "symphony of lights" will be officially launched. Specially designed and produced for the 25th anniversary of Hong Kong’s return to the motherland, the lighting show not only adds more buildings to the lighting show, but also adds various elements, bringing refreshing audio-visual enjoyment to the public.

　　Cheng Dingyi, Director-General of the Hong Kong Tourism Board, said that the new elements include setting up multiple lighting effects at various locations on both sides of the Victoria Harbour, setting up unique light and shadow on the outer wall of the SAR Government Headquarters and the rooftop of the Legislative Council Building, and putting on new clothes for many Star Ferries to blink at night.

　　The five-star red flag and bauhinia regional flag shot on the streets of Hong Kong on June 29th. Xinhua News Agency reporter Binghui Lu photo

　　People from all walks of life celebrated together

　　Citizens and social organizations celebrated the 25th anniversary of Hong Kong’s return to the motherland in various ways.

　　"Bless Hong Kong, Bauhinia is blooming beautifully, and the road is just ahead … …” Zhu Wunina, a Hong Kong songwriter, co-wrote this song "Blessing Hong Kong" with friends. "Only when there is a country can there be a home, and when the country is good, Hong Kong can be good." She said that she hopes to express her deep love for the motherland and Hong Kong with songs.

　　"Compared with previous years, I felt more responsibility when I participated in the celebration this year." Zhu Dingwen, the flag bearer of the China-Hong Kong delegation to the Beijing Winter Olympics and a short-track speed skater, said that this year he came to the celebration as an athlete who participated in the Beijing Winter Olympics, and his feelings were very different. "I hope that these activities can bring positive energy to more young people in Hong Kong."

　　"We take ‘ Poster+lighting+flag array ’ Way, let ‘ Tsuen Wan City takes China Red ’ 。” Hua Meiling, Secretary-General of the Organizing Committee for Celebrating the 25th Anniversary of Hong Kong’s Return to the Motherland in Tsuen Wan, told reporters that there are 18 celebration activities in Tsuen Wan, including festival theme decorations, cultural performances, and Putonghua recitation.

　　A gala celebrating the 25th anniversary of Hong Kong’s return to the motherland will be held in Hung Hom Gymnasium on July 1st, and many famous artists from Hong Kong, such as Andy Lau, Alan Tam and Nicholas Tse, will give wonderful performances to the audience.

　　"On the 26th, I went to Hung Hom Gymnasium for the first time for live rehearsal. The venue is magnificent, the stage is beautiful, and the visual effect of the overall performance is shocking. " Mo Hualun, a Hong Kong tenor, said that he was full of expectations for the performance of the gala, and firmly believed that with the support of the central authorities, the new SAR government would lead Hong Kong to "open a new chapter" and usher in a new stage of development. (Written by reporters: Liu Huan, Cha Wenye, Lu Min, Lin Ning, Wei Hua, Huang Yitian, Su Wanming, Li Baitao)

　　The three A-share indexes collectively closed down in early trading. By midday, the Shanghai Composite Index was down 0.29%, the Shenzhen Component Index was down 0.46%, the Growth Enterprise Market Index was down 0.49%, and the Beizheng 50 was up 2.26%. The half-day turnover in Shanghai and Shenzhen stock markets was 488.7 billion yuan. More than 3,600 stocks in the two cities fell. Northbound funds sold 4.685 billion yuan in half a day.

　　On the theme of the sector, media, games, optical modules and other sectors were among the top gainers; Agricultural machinery, auto parts and other sectors are floating green.

　　On the disk, media and game stocks continued to strengthen, with (), () and () daily limit, () and () rising by over 5%. The concept of CPO was among the top gainers, () rose by over 14%, and () and () both had daily limit. Media stocks are active again and again, () up more than 15%, (), publishing media, Beijing culture daily limit. The Beizheng 50 Index rose more than 2%, and Liujin Technology rose more than 15%. The auto parts sector was among the top losers, with () down, (), () and () leading the decline. In addition, on the high standard, the word () recorded 6 consecutive boards, and Longban Media recorded 5 consecutive boards.

　　Plate analysis:

　　Straight flush hot stock list:

　　Transaction review:

　　At 09: 25, the A-share market opened, the Shanghai Composite Index opened 0.11% lower, the Shenzhen Component Index opened 0.16% lower and the Growth Enterprise Market Index opened 0.26% lower.

　　At 09:26, the high-end stocks started to fall, and the words (), () and Weishi Electronics went down, and () and () went down one after another.

　　At 09:27, the media and game stocks were active at the beginning, with Beijing Culture 2 being linked to the board, Wentou Holdings’ daily limit, Shanghai Film, (), () and () rising.

　　At 09:29, Xinyada stepped out of six consecutive boards with a daily limit of over 500 million yuan.

　　At 09:31, the Hang Seng Technology Index fell more than 1%, and the Hang Seng Index is now down 0.82%.

　　At 09:32, the concept of small metal went down in the morning, () fell more than 5%, and (), (), (), (), () and so on went down one after another.

　　At 09: 35, the concept of AIGC strengthened in early trading, () rose by over 13%, () rose by over 10%, (), (), Kunlun Wanwei and Danghong Technology rose by over 5%.

　　At 09: 40, the concept of CPO rose sharply, and Guang Chen rose by over 11%, followed by Wufang Optoelectronics, Yuanjie Technology, (), () and ().

　　09:42 Food stocks fluctuated and weakened, () fell by more than 7%, () and Huifa Food fell by more than 5%, and (), () and () fell by more than 3%.

　　At 09:44, the Hang Seng Index fell more than 1%, the Hang Seng Index is now down 1.28%, and Yaoming Bio and China Merchants Bank fell more than 4%.

　　At 09:49, the concept of retail fell, () approached the down limit, () fell more than 8%, (), (), (), () and so on all went down.

　　At 09:58, the Beizheng 50 Index rose more than 3% against the market, while the daily limit of Huaxin Yongdao and Tianrun Technology was 30cm, while that of Liujin Technology, Luqiao Information and Guoyuan Technology rose more than 15%.

　　At 10:12, the volume of Huaxia Ophthalmology dropped by 14%. In the news, Su Qingcan, the chairman of the company’s announcement, was detained by the Shanghai Supervision Committee for personal reasons.

　　At 10:13, the main contract of lithium carbonate hit the daily limit, with an increase of 6.99% to 95,600 yuan/ton.

　　At 10:15 (), it rose by more than 6% in intraday trading, and the turnover exceeded 2.4 billion yuan.

　　At 10:21, the pork plate bottomed out, and (), () and () rose by more than 5%, while (), () and () surged in succession.

　　At 10:23, the concept of computing power leasing was divided in intraday trading. (1) The daily limit, Hengxin Dongfang, (2) and (3) followed up, (2) the daily limit, (3) and (3) followed down.

　　At 10:38, the concept of optical module continued to strengthen, with Guang Chen hitting a daily limit of 20cm, Ruiruikangda and Wufang Optoelectronics reaching a daily limit, and (), () and Zhongji Xuchuang all went higher.

　　At 10:48, the concept of auto parts fluctuated and went down. Changchun Yidong hit the limit, Tianlong and Shenglong shares fell more than 8%, and Yunnei Power, (), () and () fell more than 5%.

　　At 10:50, the main contract of soda ash futures increased to 9%, and it is now reported at 2260 yuan/ton.

　　At 10:51, real estate stocks bottomed out and rose, () daily limit, (), (), (), (), () and () followed suit.

　　News:

　　1. WTI crude oil futures fell below the integer mark of $70/barrel for the first time since July 4th, with a drop of more than 3%.

　　WTI crude oil futures fell below the integer mark of $70/barrel for the first time since July 4, with a drop of more than 3%.

　　2. SpaceX, a space exploration company owned by Musk, will trade shares at a valuation of more than $175 billion.

　　SpaceX, Musk’s space exploration company, will trade shares at a valuation of more than $175 billion. (Sina Finance)

　　3. Tesla plans to restart the Shanghai Phase III factory project, and the energy storage products will be supplied to China.

　　According to LatePost, Tesla is planning to restart the construction of the third phase automobile factory in Shanghai. Tesla disclosed in April this year that it would build a new energy storage battery factory with an annual output of 40 GWh in Shanghai, which will be put into operation in the second quarter of next year. At that time, it did not mention the expansion of the automobile factory. Besides, Tesla’s energy storage battery products, which will be produced in Shanghai next year, will be sold in China. At present, the Shanghai factory energy storage project has recruited the person in charge of research and development, and is recruiting the person in charge of sales.

　　4. HarmonyOS Ecology ushered in an important breakthrough in the catering field. Many enterprises started the development of native applications in HarmonyOS.

　　According to the China Securities Journal, on December 6th, McDonald’s China and Huawei reached a cooperation agreement in HarmonyOS, officially announcing that McDonald’s China APP will start HarmonyOS native application development based on HarmonyOS NEXT. With more than 5,500 restaurants in China market, more than 200,000 employees and more than one billion customers each year, McDonald’s China has become the first large-scale chain catering enterprise in the world to start the development of HarmonyOS’s native application. The McDonald’s China APP officially announced the launch of the native application development in HarmonyOS, which means that HarmonyOS Ecology has made a major breakthrough in the catering field. At present, Meituan, Qunar, Sina, Nail, Ant Group, Xiaohongshu, 58 Group, Bili Bili and Gaode Map have started the development of native applications in HarmonyOS.

　　5. Ministry of Industry and Information Technology: Promote the coordinated development of "Double Gigabit" and accelerate the layout of intelligent computing facilities.

　　According to Guan Wei of the Ministry of Industry and Information Technology, on December 6, the Ministry of Industry and Information Technology held a symposium of the National Communications Administration and a symposium on information and communication supervision. The meeting emphasized that the information and communication industry is a strategic, basic and leading industry of the national economy. It is necessary to persist in promoting the modernization of the industry, continuously consolidate and enhance the competitive advantage and leading position of the industry, persist in empowering the digital transformation of the real economy, and consolidate the technology, network, application, market and security foundation of services to support new industrialization, and play a greater role in promoting new industrialization and building a modern industrial system. It is necessary to speed up the optimization and upgrading of new information infrastructure, promote the coordinated development of "double gigabit", speed up the layout of intelligent computing facilities, optimize the internet architecture, and improve the green and low-carbon level of information infrastructure. It is necessary to speed up tackling key core technologies, promote the R&D and innovation of 6G technologies, and build a modern industrial system of information and communication. It is necessary to deepen the empowerment of integrated applications, issue guidance on the high-quality development of industrial Internet, promote the "100 million" action of 5G factories, and accelerate the industrial "intelligent transformation from digital to network". Support platform enterprises to expand consumption scenarios, empower manufacturing and enhance international competitiveness. It is necessary to strengthen the network and data security system and capabilities, strengthen the construction of technical support capabilities, improve the data security management level of the industry, and promote the innovative development of the network and data security industry. It is necessary to further promote the construction of a new industry supervision system, improve the all-round, multi-level and three-dimensional supervision system, improve the supervision of the whole chain and all fields before and after the event, actively and orderly promote the opening up of the industry, and further promote the construction of work style and rectification work.Deepen the supervision of key areas such as APP. Improve the emergency communication plan system and command system, and ensure communication services for major events and emergencies.

　　6. CITIC Securities: Google Gemini model was released, and AI entered the multi-modal era.

　　Citic Securities Research Report pointed out that recently, Google announced the release of a new generation of large model Gemini, which once again triggered the market’s continued attention to the artificial intelligence industry. As the first multimodal model released by Google and the world, Gemini model is the first model to surpass human experts on MMLU in performance. According to the volume, the model is divided into three versions: Gemini Ultra, Gemini Pro, and Gemini Nano, which support cloud and edge measurement. At the same time, Google simultaneously released the latest version of the computing chip TPU v5p, which is 2.3 times more cost-effective than the previous generation TPU v4. We believe that the official release of multimodal Gemini model can not only broaden the application scenarios, but also bring about the continuous upgrading of computing power requirements. We continue to be optimistic about the prospects of the subsequent AI industry, and believe that the release of subsequent GPT-5 models will also bring more catalysis.

　　7. Western Digital issued a price increase letter. It is expected that the cumulative price increase of NAND chip products in the next few quarters will be 55%.

　　According to Taiwan media quoted by Cailian, Western Digital (WD), the world’s fourth largest storage NAND Flash supplier, sent a price increase notice letter to customers, emphasizing that the price of NAND chip products will rise periodically in the next few quarters, and the expected cumulative increase is 55%. This wave of NAND chip quotation is unstoppable. At this stage, the industry is optimistic that the quotation will stop falling and rebound. Compared with the current situation in which suppliers and customers individually notify to adjust the quotation, Western Digital sends a price increase letter to customers, and the expected price increase is amazing, opening the first shot of a comprehensive price increase in the industry.

　　8. The EU is about to reach a landmark artificial intelligence supervision bill.

　　According to Reuters, quoted by Sina Finance, people familiar with the matter said that the EU is about to reach an agreement on the supervision agreement on artificial intelligence, which may be the most extensive and influential in the West. Negotiators have agreed to control a series of generative artificial intelligence tools such as ChatGPT of OpenAI and Bard of Google. Representatives from the European Commission, the European Parliament and 27 member states reached a compromise at the meeting that began on Wednesday afternoon and lasted for several hours, which brought the parties closer to reaching a formal agreement on a broader legislation, namely the Artificial Intelligence Act. In the absence of any meaningful action by the United States, this move will set the tone for the supervision of generative artificial intelligence in developed countries. For months, policymakers have been trying to finalize the wording of the Artificial Intelligence Act and try to get it passed before the European election in June next year.

　　9. General Administration of Customs: China’s foreign trade import and export increased by 1.2% in November this year.

　　The General Administration of Customs announced today that in November this year, the total import and export value of China’s goods trade was 3.7 trillion yuan, up 1.2% year-on-year, and the steady and positive trend of foreign trade was further consolidated. According to customs statistics, in the first 11 months of this year, the total import and export value of China’s goods trade was 37.96 trillion yuan, which was basically the same as that of the same period last year. Among them, exports reached 21.6 trillion yuan, up 0.3%; Imports reached 16.36 trillion yuan, down 0.5%. In the month of November, the import and export was 3.7 trillion yuan, up 1.2% year-on-year; Exports were 2.1 trillion yuan, an increase of 1.7%; Imports reached 1.6 trillion yuan, up 0.6%.

　　10. Ministry of Science and Technology: It will study and form the scheme of high-speed maglev test line with a speed of 600 kilometers per hour.

　　According to Zhongxin. com, the Ministry of Science and Technology issued the Reply to Recommendation No.2199 of the First Session of the 14th National People’s Congress in official website. The Ministry of Science and Technology said that it will actively support the basic research of magnetic levitation power technology based on the "14 th Five-Year Plan". For example, in the key special project of "transportation equipment and intelligent transportation technology", we will continue to support the research on the engineering technology of high-speed maglev transportation system and the integration technology of operation system, and study and form a high-speed maglev test line scheme with a speed of 600 kilometers per hour and a complete set of commercial operation solutions to provide scientific and technological support for the development of high-speed maglev transportation in China.

　　As a heavy model put into the compact SUV market by GAC Aian, AION V is built on the second-generation GEP pure electric platform, with sci-fi avant-garde design, good spatial performance and configuration level, and its product competitiveness is very strong. In the previous survey of "100 car owners evaluating new cars" for the 2023 Guangzhou Automobile AION V, the new car was widely praised in terms of appearance, configuration level and interior, but some consumers also reported that the vehicle had problems such as "not delivering the car according to the contract".

First, the basic information of vehicles

　　1. Comparison of configuration parameters of the same model: the configuration performance is more honest.

　　Through configuration comparison, it is not difficult to find that the overall performance of the 2023 GAC AION V is not bad. Although the configuration level of the entry model is relatively general, it can still meet the needs of daily use. Up-to-date, including comfort, technology and safety configuration, the threshold is not too high, and it is basically decentralized to the middle-equipped models, which is very friendly to consumers and has a large choice. In addition, configurations such as front parking radar and automatic parking are given the opportunity to be installed even if they are not standard in the original factory. Consumers don’t have to be too entangled, and the practice is quite kind.

　　2. Comparison of configuration parameters of competing models: the overall performance is bright.

　　Although there are many choices of pure electric compact SUVs on the market at present, there are not many models that overlap with GAC AION V in terms of price and can form a direct competitive relationship. In the end, I chose SAIC Volkswagen ID.4 X, GAC Mitsubishi Arturo AIRTREK and GAC Toyota bZ4X with medium SUV positioning. In comparison, the performance of the four models in the configuration link is remarkable. GAC AION V is mainly comprehensive, with no special highlights, but it can’t find obvious shortcomings.

Second, the quality reliability

　　As of press time, Chezhi.com has accepted 54 complaints from Guangzhou Automobile AION V, including 20 complaints about pure quality problems involving 39 fault points. Among these complaints, body accessories and electrical appliances account for the largest proportion. In the previous quality reliability survey of "100 car owners evaluating new cars", car owners still gave a more objective evaluation of their quality reliability. Among them, the proportion of car owners who gave a "very satisfied" evaluation was 24.6%; Car owners who expressed "satisfaction" accounted for the highest proportion, reaching 53.6%; The proportion of car owners who say "average" is 20%, while the proportion of car owners who clearly say "dissatisfied" is 1.8%. On the whole, the quality and reliability performance of Guangzhou Automobile Aian AION V has reached the expectations of the interviewed car owners.

Third, after-sales service satisfaction

　　As of press time, Chezhi. com has accepted 39 complaints about service problems of Guangzhou Automobile AION V, among which there are relatively many complaints about promises not being fulfilled, which are embodied in "not delivering the car according to the contract" and "not fulfilling the sales promise".

　　As of press time, the manufacturers have all responded to 54 complaints received by Chezhi.com about GAC Aion V. From the data point of view, manufacturers are more active in solving the problems that consumers have in the process of purchasing and using vehicles. For the problems raised by consumers, manufacturers will communicate with the 4S shop where the owner is located and contact the owner to enter the store for inspection and maintenance.

Fourth, the cost of car use

　　1. Power consumption: The performance is basically in line with expectations.

　　For consumers, since the date of purchase, more expenses are concentrated on daily maintenance and use costs. In view of the daily maintenance and electricity consumption of the 2023 Guangzhou Automobile AION V, Chezhi. com collates the data published by several major automobile websites for consumers’ reference:

　　Based on the statistical data of the Ministry of Industry and Information Technology and the vertical websites of various automobiles, it is concluded that the actual power consumption of the owners of 2023 Guangzhou Automobile AION V is slightly higher than that of the Ministry of Industry and Information Technology.

　　The 2023 GAC AION V can enjoy a four-year or 150,000-kilometer vehicle warranty. The initial warranty period of AION V is 5000km or 3 months, and the project is the routine inspection of the three power systems. Carry out routine maintenance every 10000km; The replacement cycle of air conditioning filter element is 20000km；; The replacement cycle of antifreeze and brake oil is 40000km；; The gear oil replacement cycle is 60000km. In the survey of "100 car owners evaluating new cars", nearly 90% of the questionnaires think that the repair/maintenance cost of Guangzhou Automobile Aian AION V meets expectations and is within a reasonable range.

V. Road Test Report

　　In terms of power, GAC AION V is equipped with a three-in-one high-efficiency electric drive module, and different adjustable motors and batteries are available. Take the 80 Smart Collar Edition as an example. It is equipped with a front single motor with a maximum power of 165kW and a ternary lithium battery with a capacity of 80kWh. The NEDC cruising range is 600km. Although the power parameters are unremarkable, it is quite skillful in adjustment, excellent in ride comfort performance, dense in starting acceleration power and easy to control, which is very suitable for a compact SUV with home positioning.

Sixth, user word of mouth

　　In the car channel of "Guangzhou Automobile AION V", a total of 12 people participated in the scoring activity, of which 10 people gave a four-star rating and 2 others gave a five-star rating. In the comments, some car owners summed up the advantages and disadvantages of the 2023 GAC AION V in use, which can provide more real and comprehensive reference opinions for other consumers.

　　In the user’s word of mouth, most car owners are satisfied with the design and comfort of the 2023 GAC Aion V. As a pure electric compact SUV for the home market, the design of GAC AION V is sci-fi avant-garde, and the power adjustment is quite smooth, and the driving experience is very comfortable. However, some car owners have complained about the car system of Aeon V.

Seven, plus points

　　1. Collision safety

　　At present, the 2023 Guangzhou Automobile AION V has not participated in the C-NCAP crash test, so the safety of the car can not be supported by data.

　　2. Recall history

　　Judging from the data currently available, GAC AION V has not been recalled in Chinese mainland. Although the absence of recall does not mean that the quality of the vehicle has reached perfection, it at least proves that the manufacturer has determined that the current vehicle has no hidden problems that affect the safety of driving and property.

Author | Wang Yajun 　

Cover Source | Douban Entry 　

On January 26th, Beijing time, Tesla released the latest financial report: in the fourth quarter of 2022 (hereinafter referred to as Q4), the revenue increased by 37% year-on-year to US$ 24.318 billion, and the net profit increased by 59% year-on-year to US$ 3.687 billion, both hitting record highs and exceeding market expectations. 　

During the period, Tesla’s vehicle production and delivery both reached new highs: Q4 produced 439,701 vehicles and delivered 405,278 vehicles, up 44% and 31% respectively. 　

On the first trading day after the financial report was released, Tesla closed up nearly 11% and its market value returned to 500 billion US dollars. 　

DanielIves, a well-known Tesla bull and Wedbush analyst, believes that Q4 in 2022 will be "one of the most important financial reports in Tesla’s history" because its dominant position in the electric vehicle market is facing new resistance in the past few years. 　

Before the financial report was released, Tesla took the lead in the unprecedented price reduction promotion in the domestic market on January 6, and then spread the price war to the United States, Europe and other places. Musk said in the earnings conference call that he saw the strongest order in Tesla’s history in January, and the current number of orders is almost twice the production capacity. 　

In 2023, Tesla gave a delivery target of 1.8 million vehicles in the financial report, an increase of 37% compared with 2022, which was lower than the previously set long-term target (an annual increase of 50%). However, Musk is also optimistic that if there is no external interference, 2 million cars may be produced and sold in 2023. 　

The price of cars has dropped, but the growth rate of delivery has slowed down. 　

In Q4 of 2022, Tesla, the "price butcher", once again showed the cutting edge of price reduction. 　

Since October, 2022, Tesla has successively reduced prices in China and North America. Musk’s goal is to sell all the cars produced in Q4 that year and usher in an "epic year-end". 　

However, due to the small price reduction, the effect of exchanging price for quantity is not satisfactory. Tesla delivered a total of 405,300 vehicles in Q4, with a year-on-year growth rate slowing from 71% in the same period of last year to 31%, and a year-on-year revenue growth rate of 37%, a record low in the past two years. MarkDelaney, an analyst at Goldman Sachs, believes that Q4′ s delivery data is "an increasing negative factor". 　

　In Q4 last year, Tesla’s output exceeded the delivery by 34,423 vehicles, and the annual difference was 55,769 vehicles. In 2022, Tesla delivered a total of 1,313,800 vehicles, which failed to reach the annual target (1,404,100 vehicles), and the throne of the annual new energy vehicle sales crown was also taken away by BYD. 　

As the most profitable new energy vehicle company in the world, Tesla’s net profit growth rate slowed down obviously in Q4 last year, even less than Q2, which was affected by epidemic and supply chain. 　

The price reduction promotion also lowered the gross profit margin. Tesla Q4′ s gross profit margin was 23.8%, down 3.6 percentage points from the same period of last year and 1.3 percentage points from the previous month, hitting a new low in nearly seven quarters. 　

　　In the face of the decline in profitability brought about by price cuts, Musk believes that Tesla can get compensation from autonomous driving. 　

In a Twitter space discussion at the end of 2022, Musk said that the value of a car that can drive automatically is much higher than that of a non-self-driving car. Even if the profit margin is extremely low when selling a car, it can be upgraded to automatic driving. It can bring a lot of income. "Only Tesla can do this." 　

FSD(FullSelf-Drive) brought Tesla $324 million in revenue in Q4. Tesla has released a beta version of FSD to almost all customers in North America, and the number is about 400,000. 　

In addition to the slowdown in growth and the decline in gross profit margin, Musk, as the soul of Tesla, was also distracted by Twitter. 　

Musk proposed to acquire Twitter in April 2022 and entered the company in October. After the acquisition, Musk reduced his holdings of Tesla shares worth nearly $23 billion. KoGuanLeo, the third largest individual shareholder of Tesla, said that Musk gave up Tesla and Tesla had no CEO. 　

The cold winter of Q4, together with Twitter nightmare, has impacted Tesla’s market value and Musk’s net worth. As of the close of the last trading day in 2022, Tesla’s share price fell by more than 50% in the fourth quarter. Affected by this, Musk became the first rich man in history to lose $200 billion. 　

　　

Weakened first-Mover advantage 　

Behind the slowdown in delivery, revenue and net profit growth is Tesla’s insufficient demand challenge in Q4. According to the financial report, Tesla Q4′ s global inventory supply days reached 13 days, up 225% year-on-year, the highest in the whole year. 　

Bernstein, an American investment research institute, said that the price reduction of Tesla’s promotion in China and the United States in 2022 means that Tesla may have a demand problem. 　

The long gap period of models is one of the important reasons for the decline in Tesla demand. In 2022, the combined delivery of Model3 and ModelY accounted for 94.92% of Tesla’s total annual delivery, but the release time of these two models should be traced back to 2016 and 2019 respectively. 　

Merrill Lynch once predicted in a report that by 2025, Tesla’s American electric vehicle market share will drop from the current 70% to 11%, because Tesla did not expand its product portfolio quickly enough, while traditional car manufacturers and new forces making cars are improving their product lineup. Standard & Poor’s Global Mobile also believes that although Tesla is still the best-selling electric vehicle brand in the United States, its competitors are launching more and more affordable models, and Tesla’s dominant position in the electric vehicle market is being weakened. 　

During the gap period of Tesla models, the pattern of new energy vehicle market in China has also changed greatly. According to the data of the Association, the market share of BYD’s new energy passenger cars increased from 19.5% in 2021 to 31.7% in 2022. In the same period, Tesla decreased from 10.7% to 7.8%. Wei Xiaoli also broke through the annual delivery of 100,000 vehicles in 2022, and plans to launch more models. 　

　

At the same time, Tesla’s technological aura is gradually eclipsing. 　

Tesla’s brand power is centered on the exploration and landing of new technologies, especially the combination with FSD. Musk also predicted that "autopilot software will become Tesla’s most important profit point", but FSD has never achieved true full autopilot. According to the calculation of CITIC Securities, from 2019 to 2021, the revenue of FSD accounted for 3.4%, 2.8% and 1.7% respectively. 　

Will the price war last? 　

At the beginning of 2023, Tesla cut prices sharply on a global scale. 　

On January 6th, all the models on sale in Tesla China market were reduced in price, with a drop of 20,000 ~ 48,000 yuan, and the promotion was unprecedented. The following week, Tesla spread the bonfire of price war to Japan, South Korea, North America, Europe and other places. 　

Price reduction is a double-edged sword. Daniel, the aforementioned Wade Bush analyst, believes that Tesla’s price reduction may increase the global delivery this year by 12% ~ 15%. Deutsche Bank predicts that Tesla’s gross profit margin will drop by 3 percentage points in 2023 compared with 2022. 　

At the earnings conference call, Tesla did not release the expectation of continuing to exchange prices. Musk said that Tesla raised the price slightly because the demand after the price reduction far exceeded the output. On January 24, Tesla raised the price of the ModelY dual-motor all-wheel drive model sold in the United States by $500. Tesla CFOZachKirkhorn also said in the earnings conference call that the gross profit margin of automobiles will be higher than 20% this year. 　

Tesla’s price reduction action is bound to cause a rebound of competitors. Haitong Securities believes that Tesla will increase market sales by reducing prices, announcing that the electric vehicle industry will officially enter fierce competition in 2023, and global car companies will face great pressure to compete head-on. 　

On January 13, AITO asked the community to announce that the price of some of its models would be lowered by 28,800 ~ 30,000 yuan. On January 17th, Xpeng Motors, which is still at a loss, announced that it would adjust the price of its G3i/P5/P7 models, with an overall decrease of 20,000 ~ 36,000 yuan. 　

The day after the official announcement of price reduction, He Xiaopeng, chairman of Xpeng Motors, said at the annual summary meeting, "Either you are brilliant enough with everyone, or you will die with a bang". 　

BYD, which did not follow the price cut, launched a million-class luxury car the day before Tesla’s domestic price cut in an attempt to get more cakes in the high-end market. 　

In the face of rivals who are chasing after each other step by step, Tesla urgently needs to find new sales growth points. 　

FranzvonHolzhausen, chief designer of Tesla, said on January 16th that Cybertruck, a pure electric pickup truck, had finished the design and was ready to put into production. The market generally believes that if Cybertruck can be listed as scheduled, it will become a new growth point for Tesla in the North American market in 2023. 　

Cybertruck； Source: Tesla official Weibo 　

　Musk said in the earnings conference call that Cyberruck may start production in the summer of 2023, but the real mass production work will begin in 2024, and Cyberruck’s contribution to profits will not be great this year. 　

Cheap models are another sales growth point besides Cybertruck. Musk predicts that the cost of the next-generation car platform will be half that of the second-generation platforms (Model3 and ModelY), and its output may be higher than the sum of all the company’s current products. 　

Tesla said in Q4 financial report that more details of the next-generation car platform will be released on March 1, 2023, Investor Day. Analysts of venture capital firm LoupVentures believe that Tesla’s affordable model Model2 will not be launched until 2024. 　

In addition, Tesla has to consider the impact of the macro environment. 　

In a Twitter discussion at the end of 2022, Musk believed that the severity of the economic recession in 2023 was equivalent to that in 2009, which would affect the demand for automobiles and lead to an increase in the consumption cost of automobiles. However, in the earnings conference call, Musk also said that the economic recession will reduce Tesla’s costs, which in turn will bring higher profit margins. However, he stressed that this was only his guess. 　

Twitter is also a variable that Tesla will face this year. In December 2022, Musk launched a vote on whether he should step down as CEO of Twitter. 57.5% of users thought he should resign, but Musk still serves as CEO of Twitter. 　

In the earnings conference call, Musk "showed off" his Twitter account with 127 million fans, and said that Twitter created demand for Tesla. At present, Musk has renamed his Twitter account "Mr. Twitter". 　

Competition in the industry has intensified and the first-Mover advantage has diminished. In 2023, Tesla will still face severe challenges.

　　Shi Zifu, Harbor Business Watch

　　In the sub-field of matching in the same city, flash delivery is usually regarded as a leading participant in the industry. However, this market is highly competitive, and only the well-known SF City, JD.COM Hours and Dada Seconds are not small rivals.

　　On October 4th, Flash (FLX.US) was successfully listed on NASDAQ, with an issue price of US$ 16.5 /ADS and a total fundraising of US$ 66 million. As of 9: 38 EDT on October 8th, the stock price of Flash dropped to about US$ 15. According to Tianyancha, the domestic operation entity of Flash is Beijing Tongcheng Bing Technology Co., Ltd..

　　01

　　Achieve profitability in 2023.

　　Official website introduced that Flash Delivery is a one-to-one express delivery platform in the same city’s instant delivery industry, providing personal and corporate customers with special express delivery services on demand. The brand of Flash Delivery is FlashEx or Flash Delivery, which means instant delivery.

　　According to the data of iResearch, in terms of revenue in 2023, Flash is the largest independent on-demand express service provider in China. In 2023, the market share of Flash in China’s independent on-demand express service is about 33.9%.

　　Different from the delivery service provider that adopts the order consolidation mode, Flash initiated and always focused on the special delivery mode of on-demand delivery. For each order, Flash will assign a special Flash-Rider to pick up the order and deliver it to the recipient without merging multiple orders or changing hands on the route.

　　As of June 30, 2024, Flash has about 2.7 million registered riders, and its service coverage has been extended to 295 cities in China.

　　From 2021-2023 and January-June 2024 (hereinafter referred to as the reporting period), Flash Delivery fulfilled 158.6 million, 213.4 million, 270.7 million and 138.1 million orders respectively; In the current period, the company realized revenue of RMB 3,039.8 million, RMB 4,002.7 million, RMB 4,528.8 million and RMB 2,284.5 million respectively, and realized gross profit of RMB 189 million, RMB 259 million, RMB 395 million and RMB 257 million respectively, with gross profit margins of 6.2%, RMB 6.5%, RMB 8.7% and RMB 11.3 respectively.

　　It is not difficult to understand the reason for the increase in revenue, which is related to the increase in the company’s orders in the current period. In terms of net profit, flash delivery generated a net loss of 291 million yuan and 180.4 million yuan in 2021 and 2022 respectively, and realized a net profit of 110 million yuan (US$ 15.205 million) and 124 million yuan (1702.0) in 2023 and January-June 2024 respectively.

　　For the realization of profit in 2023, the flash payment is attributed to the increase of other income caused by the increase of government subsidies. In 2023, other income from flash delivery was 74.3 million yuan (US$ 10.2 million), compared with 9.2 million yuan in the same period in 2022.

　　In the revenue composition of Flash-Riders, the salary and incentive paid to Flash-Riders are the biggest components of the company’s revenue cost. During the reporting period, it was 2.751 billion yuan, 3.614 billion yuan, 3.975 billion yuan and 1.951 billion yuan respectively, accounting for 90.5%, 90.3%, 87.8% and 85.4% of the total income of the current period respectively.

　　In addition, the attention of the outside world is high. During the reporting period, the average income of a single order delivered by flash was 19.2 yuan, 18.8 yuan, 16.7 yuan and 16.5 yuan respectively, showing an obvious downward trend. Although the order volume is rising, the continuous decline of single income is still likely to affect the overall operating performance of the company.

　　02

　　Downgrading various fees, more than 8,000 complaints.

　　The operating expenses of flash delivery include sales and marketing expenses, general and management expenses and research and development expenses. In the total cost, sales and marketing expenses account for the vast majority.

　　According to the prospectus, the sales and marketing expenses of flash delivery mainly include: advertising and marketing expenses, staff costs related to sales and marketing functions, rent and depreciation, and advertising expenses mainly include endorsement fees and advertising fees. During the reporting period, the sales and marketing expenses of flash delivery were 272 million yuan, 240 million yuan, 188 million yuan and 89.738 million yuan respectively, accounting for 8.9%, 6.0%, 4.2% and 3.9% of the corresponding income respectively.

　　General and administrative expenses of flash delivery mainly include: salaries and related costs of employees engaged in general company functions, professional fees and other general company expenses, as well as expenses related to the use of facilities and equipment. During the reporting period, the company’s general and administrative expenses were 113 million yuan, 103 million yuan, 105 million yuan and 45.505 million yuan respectively, accounting for 3.7%, 2.6%, 2.3% and 2.0% of the corresponding income respectively.

　　In addition, R&D expenses mainly include: staff costs, rent and depreciation related to R&D functions, and other expenses related to R&D functions. During the reporting period, the R&D expenses of Flash were 105 million yuan, 119 million yuan, 90.847 million yuan and 41.306 million yuan, respectively, accounting for 3.4%, 3.0%, 2.0% and 1.8% of the revenue in the corresponding period.

　　In the first half of 2024, Flash reduced the sales and marketing expenses, general and administrative expenses, and research and development expenses, by 8.56%, 13.17% and 18.6% respectively compared with the previous year. Some market participants told Harbor Business Watch that it is not ruled out that this year is facing fierce market competition and the consumption environment is weak. In order to improve profitability and IPO, Flash delivery has carried out all-round cost control.

　　Flash accounts payable mainly refer to the remuneration payable to Flash-Riders. By the end of 2022, 2023 and the end of the first half of 2024, the accounts payable for flash were 356.1 million yuan, 339.8 million yuan and 314.6 million yuan respectively. In the same period, the company’s cash and cash equivalents were 622 million yuan, 699 million yuan and 712 million yuan respectively.

　　In 2021 and 2022, the net cash used in flash business activities was 194.9 million yuan and 86.8 million yuan respectively, and in 2023, the net cash provided by flash business activities was 45.7 million yuan.

　　In the first half of 2024, the net cash provided by Flash business activities was 20.7 million yuan (US$ 2.8 million). Flash mentioned that the company’s main source of liquidity was equity financing income. In March, April and May, 2021, the company obtained 747.8 million RMB from D2 financing. As of June 30, 2024, Flash had cash and cash equivalents of 711.7 million yuan (US$ 97.9 million).

　　Flash delivery mentioned in the prospectus that the company does not employ any lightning riders, and provides special express service for individual and corporate customers by relying on Flash-Riders. The company usually regards such lightning riders as independent contractors.

　　In this context, there are also many consumer complaints about flash delivery. As of October 8, the keyword "flash delivery" was searched on the black cat complaint platform, with a total of 8,128 complaints, and 5,744 complaints have been completed. In the last 30 days, there were 213 complaints, with an average of 7.1 complaints per day. Consumer complaints focus on time delay, overlord clauses, arbitrary deduction of service fees, unreasonable punishment of riders, and unauthorized cancellation of orders.

　　03

　　Valuation has shrunk dramatically, how to break through the competition in the Red Sea?

　　Tianyancha shows that at the beginning of its establishment in March 2014, Flash received millions of RMB angel round financing from Jingwei Venture Capital; In June of the same year, the company also received millions of dollars in Series A financing from Jingwei Venture Capital and CDH Investment. In July and August, 2015, Flash completed $50 million in Series B financing and Series B+ financing respectively, with investors including Jiuding Investment, Light Source Growth Fund and Tiantu Investment.

　　In February and June of 2017, Flash completed the C and C+ rounds of financing respectively, and the transaction amount of both rounds was USD 50 million. In August, 2017, August, 2018 and March, 2021, Flash completed the D, D+ and D++ rounds of financing respectively, among which the investors in the D+ round of financing included Haisong Capital, Wuyue Capital, Yuanxing Capital, Haina Asia Venture Capital, Shunwei Capital, Changbai Xing Capital, Shunliang Investment, Hearst Capital and Light Source Venture Capital, with a transaction amount of 60 million.

　　The investors in the flash D++ financing include Shunzhi Capital, Wuyue Capital, Haina Asia Venture Capital Fund, Tiantu Investment, Haisong Capital, AlphaSquare Group, Qiyuan Investment Axiom Asia Private Capital, Qian Shan Capital and Zhongcai Capital, and the transaction amount reached 125 million US dollars.

　　However, in the instant delivery market, flash delivery faces a lot of market competition.

　　In the field of traditional logistics and distribution, SF Express’s SF Express delivery, running errands, and helping to buy services, with an average of one hour in the whole city; JD.COM’s instant retail business is aimed at consumers’ JD.COM Hours, and in May 2024, JD.COM Hours and other brands were upgraded to "JD.COM Seconds Delivery"; Dada Group’s Dada seconds to send help, help to send, run errands, 1 hour; Hungry? Hummingbird, its real-time logistics platform, also provides consumers with comprehensive life services such as home catering service, supermarket service, help buy and help deliver.

　　In addition, after the completion of the D++ round of financing in March 2021, the valuation of flash delivery reached 2 billion US dollars (equivalent to about 14 billion yuan). According to the Hurun Global Unicorn List in 2024, the flash valuation is about 7 billion yuan, down about 40% from 2021. Up to now, the flash market value is about $1.078 billion.

　　According to the Research Report on Instant Distribution Industry in China released by iResearch, the scale of the instant distribution industry will be about 341 billion yuan in 2023, and it is estimated that the scale of the industry will exceed 810 billion yuan in 2028.

　　Mo Daiqing, director and senior analyst of the online retail department of the E-commerce Research Center of NetEconomy & Society, pointed out that the competition in the instant delivery market is becoming more and more fierce. For example, Dada Group and SF Express have been successfully listed in the same city, and the rookie also announced to upgrade its express delivery service in the same city and launched the "half-day service". Backed by giants such as JD.COM, SF Express and Ali, they have strong financial support and business resources. In addition, there are some new "showstopper". For example, last year, the cargo Lala announced the online errands business; Didi also launched Didi errands service; Gaode Map announced that it has cooperated with a number of instant delivery companies to provide errands through its platform; Tik Tok, Aauto Quicker, Oriental Selection, etc. are also accelerating the trial of instant retail.

　　Although it has been successfully listed, on the one hand, its profitability is under great pressure, and on the other hand, how to successfully break through in the Red Sea industry has also been tested.