According to Cailian News, in just half a month, the share price of Trump Media Technology Group (hereinafter referred to as "Trump Media"), the parent company of Trump’s social media Truth Social, turned from skyrocketing to plummeting, and Trump’s own net assets also took a roller coaster ride. More than $2 billion in assets that had soared before were also wiped out in just one week.

Trump Media shares plummeted this month.

At the end of last month, after the reverse merger with a bad check company, Trump Media landed in the US stock market and traded under the DJT stock code.

Due to Trump’s ultra-high traffic, this "backdoor listing" transaction also attracted a lot of attention. The company’s share price also opened 55% higher on the first day of listing and finally closed at 16.%.

Trump media stock price trend

However, this kind of scenery did not last long: since the beginning of this month, the share price of Trump Media Technology Group began to plummet, and almost all the gains since listing have been basically retreated in the last week, which has fallen to the lowest level since the first trading day of listing, down 50% from the peak price of $79.38.

At the same time, Trump’s net worth is rapidly evaporating. Trump owns about 79 million shares of the company, accounting for nearly 60% of its shares.This means that the value of his stock has evaporated by about $2 billion since the stock began to fall sharply on April 1.

This is definitely bad news for Trump. The former president of the United States is currently facing more and more judicial bills. If the stock price of Trump Media continues to decline according to this trend, by the end of the six-month lock-up period, he will have little money to cash out from this stock.

Listing is just "a scam"?

On the first day of Trump Media’s listing, the highest market value was as high as about $10.4 billion, even surpassing Reddit, a social media company that went public a few weeks ago.

However, the company’s fundamental performance obviously does not match its high valuation.

At the beginning of this month, the financial data disclosed by the company showed that the company’s revenue declined and its performance was bleak. By the end of last year, the company had exhausted almost all its funds. Without additional financing, it might not survive, let alone see much potential for future growth.

Many people compared it with some meme stocks and counterfeit coins. Barry Diller, a well-known media tycoon and former chairman of Paramount Film Company, is even more blunt.The listing of this stock is "a scam", and the investors who buy this stock are "idiots". He criticized:

"Investors must have bought this stock without considering the company’s financial situation. They bought it for other reasons. "

Original title: Trump’s net worth plummeted by $2 billion! The share price of "Know the King Concept Stock" was denounced as "a scam"

Editor: Mou Huilan Editor: Zhang Songtao Audit: Feng Fei

Shexian Guild Hall in Beijing in the Qing Dynasty was located in Xuanwumenwai Street, where Beijing official Wang Maoyin (No.Zihuai, 1798-1865) once lived. Wang’s official residence in the imperial history made him famous for daring to speak, and later he was promoted to the right assistant minister of the household department. At that time, Su Shun, the powerful minister, was in power, and he was quite afraid of Wang Maoyin, who had a clean name, so he tried to send someone to pull the cage. In this regard, Wang Maoyin was also quite moved at the moment and made an appointment to pay his respects on a certain day. On the appointed day, the middleman arrived early and sat outside the hall waiting to go with him. Wang also had horses and chariots prepared, and he came out wearing a hat. At that time, there was a big mirror in the east of the hall. When Wang Maoyin passed by, he couldn’t help looking at himself up and down carefully. I saw that he had to say to himself, "How can you be a prince?" Then he immediately went back to his bed, excused himself from being ill and sent the lobbyist away …

The above-mentioned plot comes from "Clear Barnyard Notes" compiled by Xu Ke in the Republic of China. The book "Qing’s Banknotes" is full of anecdotes and anecdotes, and many of its contents are quite vivid, but its story source is usually difficult to trace. However, the story of "Wang Maoyin is not in Su Shun" can also be found in "Talking about Things" compiled by Xu Chengyao, a Huizhou historian in Beijing. Xu Shi, a disciple of Wang Zongyi, Wang Maoyin’s son-in-law, made a detailed investigation of the historical sites of Shexian Guild Hall in Beijing. It is said that in the late Qing Dynasty and the Republic of China, when people living in the capital of overseas Chinese mentioned Wang Maoyin, they always pointed to the mirror in the hall and told the above story.

According to the historical facts, in the early years of Xianfeng, Su Shun, the Manchu power minister, was deeply trusted by the emperor. He rebelled against the old rules of his ancestors who "paid more attention to the Han people than to the Han people" and tried his best to convey it to the Han scholar-officials. Therefore, this story may not be an unfounded fiction. However, through this story, people can see a more important point-regardless of the merits and demerits of historical figures, people act in the world, the temptation of fame and fortune, the balance of gains and losses, and the evaluation of fame behind them are sometimes only in a moment. Only when the person concerned looks at himself in the mirror can he best see the secrets in his heart; As historical spectators, the information provided by handed down literature to us bystanders is really quite limited.

Statue of Wang Maoyin in Shexian County

Wang Maoyin is the only Chinese mentioned by Marx in Das Kapital. This person is a native of Shexian County, Huizhou Prefecture. In 1853, he became the right assistant minister of the Ministry of Housing and was also in charge of the affairs of Qianfatang. He was opposed to casting large sums of money, thinking that low-value copper coins would inevitably lead to rising prices, but this suggestion was not adopted by the emperor. In April of the following year, Wang Maoyin once again talked about the banknote law, requesting that the issued non-convertible banknotes be changed into convertible banknotes, and stipulating the maximum amount of issuance, which is conducive to the development of business and the operation of the economy. As a result, he was reprimanded by Emperor Xianfeng as being instructed by businessmen and not caring about state affairs.

Later, Marx learned Wang Maoyin’s proposition from the investigation report of the Russian Embassy in Beijing, and regarded it as a "new material" of monetary theory and history, which was mentioned in the footnote of Volume 1 of Das Kapital:

Wang Maoyin, the right assistant minister of the Qing dynasty, made a memorial to the emperor, advocating secretly changing official tickets and treasure banknotes into cashed banknotes. In the minister’s deliberation report in April 1854, he was severely reprimanded. Whether he was flogged for this is unknown. At the end of the deliberation report, it said: "It is not convenient for China to read the patent dealers in detail."

Because of the mention of Das Kapital, Wang Maoyin’s monetary thought has been concerned by academic circles for more than 80 years since the 1930s, and famous scholars such as Guo Moruo and Wu Han have expressed their opinions on it. However, in the past, the most systematic document on which people based their arguments was the red tape article "Wang Shilang’s Memorial", with little private information, so that we knew little about Wang Maoyin’s life world outside the temple. In view of this, this paper makes use of the newly discovered Correspondence of Ji Yue Xuan to study the daily life of the Huizhou Jing Guan during the period of Xianfeng’s war, hoping to reveal more about Wang’s family background and social contacts through these manuscripts, and to understand the origin of his "monetary thought" from some aspects.

Transcript of Ji Yuexuan’s Correspondence Book Shadow

Brief introduction of Wang Maoyin’s personal letter

One copy of Ji Yuexuan’s Correspondence is a related manuscript of Wang Maoyin from 1855 to 1859. This manuscript belongs to the "letter base" in Huizhou documents. The so-called letter base is a manuscript or transcript formed by copying letters sent by individuals or letters exchanged with each other into a book.

In the traditional era, people have different purposes to trust each other. Generally speaking, businessmen do this out of the need of business operation, mainly for memo, so as to read, refer to and check the accounts when necessary. Scholars, on the other hand, use this to accumulate personal data, and prepare materials for compiling family instructions, last words and even forming a collection of works in the future. As a famous bureaucrat in the same period of Xian, some words in Ji Yue Xuan’s Correspondence were widely circulated.

Because some letters are presented in the form of family instructions and last words, it is not excluded that the author has considered them when writing and copying. Under the immortal self-expectation or psychological suggestion, when writing, people tend to sit still and be dignified, or polish it after copying the final version. However, judging from the letters received in Ji Yue Xuan’s Correspondence, many of them are related to the privacy of family background, which should belong to a relatively primitive "letter base".

In addition, the name of this copy is related to the place where Wang Maoyin lived in Beijing at that time. It is speculated that Wang Maoyin may once live in the Sleeping Buddha Temple in the Western Hills of Beijing, and "Jiyuexuan" is a courtyard in the Sleeping Buddha Temple, so "Jiyuexuan Correspondence" should be the correspondence between Wang Maoyin and Ji Yuexuan during his residence in the Sleeping Buddha Temple from 1855 to 1859.

Daily life of Beijing official Wang Maoyin during the Taiping Heavenly Kingdom.

The 82 correspondence included in Ji Yue Xuan’s Correspondence is the correspondence between Wang Maoyin, his brothers, sons and others with relatives and friends, which covers a wide range of contents. Besides state affairs and family chores, more letters reflect some aspects of Wang Maoyin and his family’s daily life in Beijing during Xianfeng years, which are discussed below.

Donate officials on behalf of others

In order to solve the financial problems, the Ming and Qing governments carried out the donation system and sold various qualifications related to being an official. The most frequent letters in Ji Yue Xuan’s Correspondence are about donating officials.

For example, the fifth letter in the codex is a letter from Qianqiu Guan Dushou and Manchu Alinbao. He said that his son Baoyin wanted to add a donation to the post of judge, and designated it to be distributed to Shandong Province as an alternate. He hoped that Wang Maoyin’s younger brother Wang Mao Ai would donate money for him, and promised that once he got the license, he would return it in all quarters. In the Qing Dynasty, donors would borrow money from Shanxi Bank or other financial institutions in Beijing (such as banks and banks) if they didn’t have enough funds to donate. However, for Alinbao’s request, Wang Mao replied very politely: He buys goods and sends them to Beijing every year, and sends the silver back to Huizhou home after selling them. However, in recent years, due to the poor traffic between the north and the south, the business is sparse, and there is no goods sent to Beijing at home, and Beijing has no silver coins to send back to Huizhou. Therefore, Alinbao’s request to accommodate the silver coins and donate official positions on his behalf is really at a loss. In addition, at that time, the price of silver in Beijing fluctuated, and Jiangnan and Beijing were separated by thousands of miles. It took dozens of days for letters to exchange, and there was no way to communicate with each other at any time, so it was even more difficult to deal with. Judging from the contents of the above two letters, Wang Mao Ai transports tea, Four Treasures of the Study and other local products from his hometown to Beijing through long-distance trafficking every year, and then sells them and returns them to his home. In addition, judging from the basic situation of Beijing’s agency donation at that time, agencies and individuals usually provide money for donors, so Alinbao will make the above request. From this point of view, as the younger brother of Beijing official Wang Maoyin, Wang Mao Ai is indeed a professional businessman who reports donations on behalf of others. Just because he may have limited money,So I refused Alinbao’s request. Of course, it is more likely that the other party is a Manchu, and doing this deal for it will have certain risks.

Regarding the donation of officials, the 13th letter included in Ji Yuexuan’s Correspondence was written by Wang Maoyin from Beijing to his relative Wang Erchang in 1857. The letter mentioned the advantages and disadvantages of the officials donated at that time, the fierce competition for alternate officials, and enlightened the price of donating officials. He earnestly warned that once he was ready to be an official, the ups and downs of his official career were often involuntary and he had to take care of himself. Regarding Wang Erchang’s official donation, the 29th letter of Ji Yuexuan’s Correspondence was written to Wang Maoyin by Wang in Beijing in 1858, in which he mentioned that he had collected 1,500 taels and planned to remit money to Beijing through Wang Yongyi’s silk shop in shengze town. In this regard, Wang Maoyin’s reply from Beijing (the 30th letter) not only talked about the specific situation of donating officials, but also pointed out: as long as you have silver on hand, you don’t have to worry about not being able to remit money to Beijing. This clearly shows that in the 1950s, even during the war, the exchange between Huizhou and Beijing was still quite smooth.

Regarding donation and exchange, the 21st letter was written by Bao Enqi to Wang Ming, the eldest son of Wang Maoyin, in 1857. It was mentioned in the letter that Wang Maoyin had donated a real job for Bao Enqi’s friend, and after it was completed, a letter from Jixi sent 624 Liang. Among them, 600 taels is the money actually spent for donation, while 24 taels is one cent per month, with a total of four months’ interest. It can be seen that Wang Maoyin and his family have also obtained relevant benefits by donating officials on behalf of others. Since then, the 22nd letter should be a letter sent by Wang Ming to an elder named "Yunyou", in which he mentioned that he had received the silver coins brought by a letter from Jixi. Later, he will send a letter to inform Wang Maoyin who is far away in Beijing. All these show that Wang Maoyin donated official positions for people in the capital, while his home in Shexian received silver from the official donors.

In addition to donating officials from fellow villagers, there are also many donors among Wang Maoyin’s closest relatives. The 36th letter was written by Wang Maoyin to the eldest son-in-law Hong Chengji. In the letter, Wang Maoyin first stated that he did not approve of Hong Chengji’s donation of officials. He believes that there are two realms of being an official, one is to be a good official for the country and the people, and the other is to be an official only for personal gain. In his view, being an official should be for the country and the people, not just for personal gain. Having said these truths, Wang Maoyin then made a concrete analysis of the actual situation of Hong Chengji. He thought that Hong had no children at that time, so he was sure to bring his family to Beijing. Being a Beijing official was obviously quite unfavorable, and if he donated foreign officials, there would be great problems. At that time, the candidates who went to the "safe province" (that is, those provinces where there was no war) were overcrowded, and it took a long time to get the official vacancy. In this case, every year in the provincial capital, food and related entertainment must be supplemented and compensated by their own homes. However, if you go to "military affairs to save points", although it is easier to get the job vacancy, it is quite dangerous, sometimes it will make people in a dilemma, or they will lose their lives or be blamed by the court. At that time, Hong Chengji owned stores in other places, while he owned land in his hometown, which was a typical home of Huizhou merchants. In view of this, Wang Maoyin believes that the eldest son-in-law is a well-off family. Unlike those officialdom speculators who "live in debt and die in debt", it is completely unnecessary to take risks by donating officials.

In addition to the eldest son-in-law, Wang Maoyin’s cousin Hongliangcai also has the willingness to donate. The 37th letter of Ji Yuexuan’s Correspondence is a letter he wrote to Hong Liangcai from Beijing. The annex to the letter mentioned the donation entrusted by this cousin. At that time, Hong Liangcai and others remitted the money to Jingshi 50 Liang through Wan Feng Store. In this regard, Wang Maoyin explained the detailed expenses of the fee. This example also shows that the donated expenses are also transferred through the exchange between Beijing and Jiangnan.

In Ji Yuexuan’s Correspondence, there is not only a special list of the price of donating officials, but also discussions in this regard can often be seen in various letters. It can be seen that Wang Maoyin has a very clear understanding of donation and related money price comparison.

Letters on Donation in Ji Yue Xuan’s Correspondence

Request for assistance in litigation

China is a personal society, and in Huizhou, which attaches great importance to nostalgia and clan friendship, Wang Maoyin, as a second-class Beijing official, is inevitably entrusted by people to work for relatives and friends.

Take Wang Maoyin’s closest relative as an example. His family, the Wang family in Qizili, Shexian County, has been married to the Hong family in Sanyangkeng, the same county for generations. Similar to the Wangs, Hongshi is also a family of Huizhou merchants, and there are quite a few businessmen in Tongzhou and Taizhou in northern Jiangsu. The two litigation cases mentioned in Ji Yuexuan’s Correspondence are related to this background.

One of them is "Hong Yisheng Tea Shop Case". Hongyisheng Tea Shop, which was opened in Taizhou, is an ancestral shop of the Hong family in Sanyangkeng, and has always been opened by the second and third houses in the family. In 1835, Fannie and Freddie jointly signed a contract and agreed to operate separately in turn, with each room lasting for ten years. During the Xianfeng period, the manager of Fannie and Freddie, Hong Zaizhong, died, and the store business was inherited by Zaizhong’s son. Changfang learned that Hong had a lot of losses both at home and abroad. Even if all the assets of Hongyisheng Tea Shop were used as collateral, there was still a big gap. In view of this, Changfang is deeply uneasy, fearing that the son of Zhongzhong will use the store industry to pay off debts, and he will lose all his money. In this context, they can only think hard about how to deal with it. Since Hong Benhuai of Changfang is Wang Maoyin’s cousin, he hopes that Wang will come forward to make decisions. After discussion, Hong Benhuai’s statement is: Hongyisheng Tea Shop is the ancestral business of Hongjia, and Changfang owns half of the shares. Previously, Hong Benhuai opened another small shop in Jiangyan Town, east of Taizhou. Due to the shortage of funds, the capital could not be turned over for a while. In 1852, he pawned half of the shares held by Hong Yisheng Tea Shop to his cousin Wang Maoyin. In this case, the third party is added to the property right relationship, hoping to force Fannie and Freddie to be cautious when paying off debts. In this process, Wang Maoyin wrote to the local officials in northern Jiangsu many times through his family, repeatedly emphasizing his interest in this lawsuit, in order to get the necessary care and protect the related rights and interests of his cousin Hong Benhuai.

In addition to the "Hongyisheng Tea Shop Case", Wang Maoyin’s family also intervened in another commercial dispute in northern Jiangsu. In the early 1820s, Wang Maoyin’s relative, Hong Chengming, bought the property right of Hong Dayuan’s cloth shop in Jiangyan Town, and then had a dispute with others for some reason. There are two letters in Ji Yue Xuan’s Correspondence, which are written by Wang Maoyin’s younger brother to a relative who is an official in the local area. In the letter, he cleverly carried out the Beijing official Wang Maoyin, saying that because he lived far away in Beijing and was beyond his reach, he had to turn to this local official for help, which was of course a means of secretly exerting pressure. In addition, he also wrote to Hong Chengming, quietly telling him that he had asked someone to get through the joint, but this lawsuit was excused and must not be made public.

To sum up, when the Hong family had an economic dispute in northern Jiangsu, Wang Maoyin, as a close relative, intervened directly or indirectly. In addition to admitting his shares in the store, he also asked local officials to try their best to support his relatives.

In 1868, Jiangsu Tongzhou (now Nantong) Honglida Tea House Contract (partial). The "Hong Benke" in the contract is Wang Mao Yin’s cousin Hong Liangcai.

Lending and deposit

Wang Maoyin was born in a family of Huizhou merchants. Because he donated officials for generations, he had money to negotiate with many people. In Ji Yuexuan’s Correspondence, some of them reflect the debts between him and his relatives and friends. For example, a long time ago, Wu Weishan, whose family owned a pawn shop in Quzhou, Zhejiang Province, borrowed money from Wang Maoyin and made a receipt. After Wu Weishan’s death, Wang Maoyin also claimed debts from his son. This iou still exists in the hands of Wang’s descendants.

In addition, on February 2, 1864, Wang Maoyin deposited 300 taels of silver in Wu ‘ertong Bank, and the deposit was both fixed and flexible, with a monthly interest rate of 8%. Wu Ertong was born in 1815, and his great-grandfather Wu Yongping went to Beijing to run the tea industry during the Qianlong period. Later, he opened a number of tea houses and concurrently operated money houses. Wang Maoyin’s 300 taels of silver was deposited in Wu’s bank in Beijing.

It can be seen that during his stay in Beijing, Wang Maoyin lent his spare money to others or deposited it in a bank, and such activities earned considerable interest, which was no different from the common practice of Huizhou merchants who were active all over the country at that time. Similar activities and related initiatives have deepened their understanding of the business environment from some aspects. These are obviously helpful for us to understand Wang Maoyin’s monetary proposition in the mid-19th century.

Wang Maoyin’s family background, daily life and his monetary proposition

In the mid-19th century, the currency reform focused on the issue of paper money and large denomination coins. As an official in charge of the central finance, Wang Maoyin’s monetary proposition is quite noticeable. In this regard, there are many related discussions. In my opinion, among them, the viewpoint of historian Wu Han deserves the most attention. Wu Han said: "Wang Maoyin grew up in the society of Huizhou merchants and lived at home for a long time. His life and ideology were deeply influenced by Huizhou merchants, and he naturally became the spokesperson of the merchant class in politics, especially the spokesperson of Huizhou merchants who mainly opened banks and shops, defending their interests. When discussing official banknotes and big money, he spoke for businessmen everywhere, especially those who opened banks and shops." However, Wu Han’s discussion is still centered on Wang Shilang’s Memorial. His analysis is based on his keen judgment as a historian, and there is no more direct historical data to support it. Therefore, it has also been criticized by many scholars, who think that this is only his personal "association". Of course, even the historical materials used by critics are still red tape articles such as Wang Shilang’s Memorial.

In recent ten years, with the excavation of a large number of folk documents, new historical materials about Wang Maoyin have emerged one after another. In this respect, Ji Yuexuan’s Correspondence should be the most systematic new document. From this, we can know more about Wang Maoyin’s living environment and his daily life, so as to better understand the era and regional background of his monetary proposition.

Wang Maoyin and Huizhou Tea Merchants in North China

In 1798, Wang Maoyin was born in Qizili Village, Shexian County, Anhui Province. His grandfather Wang Huaikang and his father Wang Yingju were both Huizhou tea merchants. Tracing back from the existing literature, at the latest from the Qianlong period in the late 19th century, Wang Huaikang did business with his clansmen in Beijing and founded Sensheng Tea House in Tongzhou.

In the Ming and Qing Dynasties, Huizhou merchants were unemployed and had no future. Although the key areas they operated were in the middle and lower reaches of the Yangtze River, many merchants were active in North China. As early as Qin Long in Ming Dynasty, there were thousands of Shexian people in Beijing. According to rough statistics, by the time of Qing Qianlong, there were 7 tea shops in Beijing, 17 people were engaged in banking and listed as donation brochures of Shexian guild halls, with 166 tea merchants, 6 jewelry stores and thousands of small tea shops. There is also Shexian Yizhuang in Pomegranate Village, more than five miles outside Yongdingmen, Beijing. This charity organization, which specializes in dealing with the remains of foreigners, was founded in about 40 years of Jiajing in Ming Dynasty (1561), which is the same as that of Shexian Guild Hall in Beijing. During the Xianfeng period, Wang Maoyin lived in Shexian Guild Hall for many years, and he had close ties with many Huizhou merchants active in Beijing. For example, many members of the Fang family in Panxi, Shexian, who are related by marriage to the Wang Maoyin family, are also engaged in tea trade in North China. According to the transcript Miscellaneous Collection, Guangxin Tea Shop, which was opened by Fang, a Hui merchant in Qing Dynasty, had as many as 500 or 600 properties in Huaer City, outside Shunzhimen, Beijing, with more than 30 classes of tea shops, which shows that the scale is quite large. It is also mentioned in the book that all the staff in Beijing are close to Fang Ziqing, the manager of Guangxinhang. It is not difficult to imagine that there is a good interaction between Huizhou officials and businessmen in Beijing. In addition, Fang Ruzhu, a member of the Fang family in Panxi, Shexian County, is related by marriage to Wang Maoyin’s cousin Hong Benyao. Before the Taiping Heavenly Kingdom, this man worked as a tea merchant in Nantong, Jiangsu Province, and after the war in Xiantong,Go to Beijing to engage in tea trade. It can be seen that Wang Maoyin’s family and in-laws are closely related to tea merchants all over North China around Beijing.

The French’s view of Huizhou tea house in late Qing Dynasty, the original photo is in the Ji Mei Museum in Paris.

Although Wang Maoyin went to school at a young age, he did not have smooth sailing in the examination hall. Until 1830, Wang Maoyin went north to Luhe, ready to abandon Confucianism and do business. It happened that the following year, Beiwei Enke took the doctor’s degree, and he took the Beijing Zhao test with the qualification of Guo Jian Zi, which was unexpected. The next year, I will take the exam, and I will be a high school scholar, and I will prepare the official household department. From this experience, it can be seen that Wang Maoyin’s entry into officialdom is actually quite accidental. Before that, he was ready to do business, so he should have mastered the basic business knowledge. In North Tongzhou, he once participated in the operation of Sensheng Tea House. In this sense, Wang Maoyin is a central-level bureaucrat from Huizhou merchants. Since then, when he was an official, his family’s tea trade in North China has not stopped, and he still has frequent interactions with Huizhou merchants active in Beijing, which prompted him to have a deep understanding of the business operation and the sufferings of merchants in the 19th century.

Daily life and Wang Maoyin’s monetary proposition

Judging from the book Wang Shilang’s Memorial, Wang Maoyin wrote many memorials to protect businessmen. He spared no effort to safeguard the interests of Huizhou merchants. These, of course, are closely related to the background of Huizhou merchants’ families. Judging from Ji Yuexuan’s Correspondence, Wang Maoyin’s social activities are quite frequent. Among them, donating officials on behalf of others, borrowing money, asking for help in litigation and other human relations are closely related to economic interests. Lending is naturally an individual’s economic activity, and litigation request also involves the commercial interests of related families, while donating officials has long been an important business in the Qing Dynasty.

In the Qing Dynasty, it has long been a well-known fact that Shanxi draft banks specially donated money for people. According to "A Brief Introduction to Doumen", Baoxing and Tongfeng Silver Company are specialized in donating money in the south of Beikou East Road, Dongguozi Lane, Xiheyan, Beijing. In the 1950s, in order to raise military salaries, the Qing government opened the door to donations, and many Shanxi banks took this opportunity to help. At that time, the agency newspaper donation accounted for a great proportion in the daily business of Shanxi draft bank. According to the regulations, the money donated to buy official titles is handed over to the Ministry of Foreign Affairs in various provinces, while it is handed over to the government offices such as the Ministry of Housing in Beijing. However, in order to speed up the progress, local donors often entrust relatives and friends in Beijing to pay donations directly to the household department. In this context, Wang Maoyin and his family donated money for relatives and friends, which is obviously the advantage of getting the moon first.

According to the research of Professor Wu Yue, a scholar studying in Japan, when reporting donations on behalf of the agency, businessmen have to charge about 10% of the handling fee to the donors, which is quite considerable. It can be inferred that it is obviously impossible for Wang Maoyin and his family to report donations for relatives and friends. In fact, even all kinds of human contacts, in Huizhou, which is rich in commercial traditions, doing things for others, regardless of their relationship, is usually a kind of business at the same time. Among the materials collected by Wang Maoyin’s descendants, there are the New Regular Donation of Silver in the 21st year of Daoguang, the Discretionary Articles of Association and the Large Donation of Silver in the 2nd year of Tongzhi (1863), all of which are reference materials related to donation. These can be compared with the relevant contents in Ji Yue Xuan’s Correspondence. This kind of information has become the secret of family heirloom, which should be closely related to the activities of Wang Maoyin and his family as intermediaries to donate officials.

According to Wu Yue’s research, in the Qing Dynasty, all links in the procedures of reporting donations could be handled on behalf of others. The agent will provide all kinds of suggestions to the donors. For example, what kind of official position is the best to donate, what kind of "virtual title" is the best to donate first in order to get an official position, what kind of "tricks" to donate as soon as possible (the priority when participating in the civil service election), and how to avoid being distributed to places that are unwilling to go (such as remote provinces). Judging from Ji Yuexuan’s Correspondence, Wang Maoyin himself often donates officials. He is familiar with all the links, so he knows all kinds of disadvantages like the back of his hand, and often helps those who want to donate. Judging from the above-mentioned letters, especially the donation often involves mutual exchange, which is closely related to Wang Maoyin’s monetary proposition.

Meeting tickets of Huizhou tea merchants in 1854

According to the study of China’s economic history, in the late Qianlong period of the late 18th century, with the expansion of commodity trading volume, financial credit expanded rapidly. A concrete manifestation is that the private bank business has broken through the scope of simply exchanging money and money, and gradually developed into an institution for depositing money and credit and financing money with customers. As credit bills, money bills and meeting bills began to be exchanged and circulated in different regions, and they have the function of currency substitutes. Similar to Shanxi draft banks, Huizhou’s foreign exchange business is also extremely developed. More than 30 years ago, Weiqiao Township, Xiuning, Anhui Province, discovered 23 tickets collected by Hui merchants Xie’s family during the Kangxi period, which shows that as early as the late 17th century, it was quite common to handle exchange between Hui merchants. In addition, according to my research on the salt industry in Huaibei, in the late 18th century, there were also very frequent exchanges between Hankou and Yangzhou. All these show that some shops at that time had handled foreign exchange business, and commercial bills met each other’s financial and credit needs. Wang Maoyin is obviously very familiar with this kind of long-standing exchange business, and there are many related records in the letters quoted before Ji Yuexuan’s Letters. It can be seen that he and his family often use meeting tickets to engage in donation-related business and pay off their debts.

In fact, firms have always played a great role in many exchanges between Huizhou merchants in North China and the South. Until the early 20th century, the exchange between Hu Shi, a famous scholar in Beijing, and Jixi, his hometown, was often mediated by Hu Kaiwen Mozhuang. Therefore, people from Huizhou merchants’ families are often very familiar with this kind of operation. From this point of view, Wang Maoyin’s monetary proposition is obviously closely related to his family background and daily life.

From the actual function point of view, meeting tickets are vouchers cashed in different places, but some of them can be paid in circulation, which is equivalent to the role of banknotes. So in terms of nature, there is not much difference between the two in the traditional era.

During the Xianfeng period, there was a serious shortage of copper materials for coin casting in China, which led to an unprecedented "silver shortage" and "copper shortage". In order to get rid of the predicament, Qing officials have put forward various schemes one after another. In the first year of Xianfeng (1851), Wang Maoyin published "The Law of Banknote Discount". He first reviewed the history of coin issuance, and thought that in order to solve the financial difficulties, the great plan of the past dynasties was nothing more than casting big money or issuing banknotes. The advantages and disadvantages of the two are roughly the same, but the lesser of the two evils is more appropriate to issue banknotes. He suggested issuing silk banknotes funded by private banks, and the government was responsible for cashing them, so as to solve the financial difficulties at that time. Although this memorial was later refuted, from the ten suggestions put forward, Wang Maoyin had a very detailed overall consideration of the implementation of the banknote law, far exceeding the previous knowledge, which was obviously closely related to his rich commercial knowledge reserve. In the third year of Xianfeng (1853), Wang Maoyin became the right assistant minister of the household department and was in charge of the affairs of Qianfatang. Since then, he has put forward his own monetary proposition.

To sum up, the main points of Wang Maoyin’s monetary thought are as follows: First, to ensure the circulation and distribution of paper money, and to "use real money to transport virtual money", that is, to ensure the circulation of paper money with valuable metal money, and to enhance the credibility of paper money through the mutual exchange between paper money and metal money. Second, the circulation and issuance of paper money need to be controlled macroscopically, so as not to cause currency devaluation. Third, it is advocated that in the process of carrying out this reform, businessmen (especially financial businessmen engaged in the operation of banks and banks) should be used as intermediaries to issue paper money, and they should be paid a certain amount to arouse their enthusiasm. Among them, especially "using reality to transport emptiness" is the core of Wang Maoyin’s monetary thought. In view of the devaluation of the official bank notes issued at that time and the Qing dynasty treasure notes, he repeatedly stressed that the virtual and the real can be exchanged with each other, and only in this way can the credit degree of the notes be improved and the inflation be stopped from worsening. In fact, this proposition is no different from the common exchange of Xijia, a contemporary Huizhou merchant.

It is precisely because of this that Emperor Xianfeng decided that Wang Maoyin was "instructed by businessmen and did not care about the country". To this end, he was "strictly responsible, looking for the Ministry of War."

In 1853, the official ticket of the household department (see the anonymous series "Official Ticket for Xianfeng’s Travel", collected by the Institute of Humanities, Kyoto University, Japan)

According to the historical facts, Wang Maoyin had a close relationship with Huizhou merchants. Bao Kang, who is also a fellow countryman of Shexian County, has a comment on Wang Maoyin’s performance in his "Big Money Catalogue". Bao Kang blamed all the financial chaos at that time on Wang Maoyin, but he didn’t actually read the original text of Wang’s play, only heard that Wang Maoyin advocated allowing businessmen to exchange banknotes at hand. After this record, there is a note saying: In 1853, Shexian tea merchants paid taxes in Chongwenmen, Beijing with official tickets, but the tax authorities refused to accept them, which caused many businessmen’s doubts and panic, thus making the credibility of official tickets and precious banknotes lost and difficult to circulate everywhere. According to the imperial edict of Emperor Xianfeng, the so-called "directed by businessmen" may also be related to the tax payment incident of Chongwenmen of tea merchants. It is worth noting that in the above comments of "Big Money Catalogue", both official "treasure notes" and private tickets are mentioned. He said that at that time, because the government issued too many precious banknotes, the Beijing market was in a panic. Merchants all regarded the banknote law as a dangerous road. Most of the employees were banknotes and wanted to spend them as soon as possible, which caused many disputes. "with the national treasure of 1000 yuan, it is not worth the private ticket of 500 yuan." The private ticket mentioned here, of course, also includes the meeting ticket. Regarding private tickets among the people, Wang Maoyin once pointed out: "In the past, Tang and Song Zhifei’s money, jiaozi and Huizi were all shipped." The "virtual reality" mentioned here is also Wang Maoyin’s consistent view. However, most of the previous researchers were obsessed with the related issues of paper money, but did not pay more attention to the emerging exchange business during the Ming and Qing Dynasties.In fact, the core problem of Wang Maoyin’s monetary proposition-convertible paper money model, is similar to the booming conference ticket at that time.

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Xianfeng monetary system reform is a monetary reform under the new situation of unprecedented "money shortage", in which Wang Maoyin plays an important role. It is precisely because of this that his monetary thought is particularly eye-catching.

Wang Maoyin was born in a family of Huizhou merchants. Many of his ancestors, fathers, brothers and relatives did business in North China. His family’s exposure, long-term business practice and communication with relatives and friends prompted him to have a deeper understanding of China society. Under this background, he used the habitual thinking of commercial operation at that time, hoping to use the existing commercial network of the people and draw lessons from the emerging credit mode of commercial meeting tickets at that time, and put forward a solution to the currency crisis in the mid-19th century. It should be pointed out that at that time, not everyone realized the significance of exchange activities in social and economic development. Until the early 1960s, due to wartime traffic jams, the Qing government had no choice but to allow the exchange of Beijing salaries and association salaries to merchants, but there were still some bureaucrats who criticized and strongly opposed the practice of handing over the exchange to merchants, which happened many times. From this point of view, Wang Maoyin’s monetary proposition has certain foresight and important significance of the times. However, because the Qing government during the Taiping Heavenly Kingdom had exhausted its financial resources, the purpose of issuing paper money and large denomination coins was to fill the financial deficit and pass on the financial crisis to the people. In particular, it was impossible to establish the credit for issuing paper money and large denomination coins, which ran counter to Wang Maoyin’s claim, thus doomed his claim to be ignored and adopted.

Anhui Shexian county wangmaoyin former residence

[This article was originally published in Wenhui Scholar on September 9, 2016, entitled "Daily Life and Monetary Thought", which was the author’s speech at the "Chinese local history and beyond" conference held at the French Institute for Advanced Studies in Social Sciences (EHESS) on May 30, 2016. ］

CCTV News:Entering the era of big data, I believe many people have this experience, not the tourist season, but the ticket price is getting higher and higher; When chatting, I casually mentioned a certain product, and when I turned around, I saw the advertising push of related products on major platforms. In the Internet age, we can quickly find the information we want, but the information and data about ourselves seem to be more easily leaked or illegally used by businesses without our knowledge. The following is a case in which consumers are "killed" by big data.　

Not long ago, an article that questioned the use of algorithms by a take-away platform to "kill cooked food" sparked heated discussion. A member user of the platform pointed out that his delivery fee is often higher than that of non-member users for the same order. What was going on at that time? The reporter contacted Mr. Xiao, the author of this article.

Mr. Xiao:"I often order the same takeaway, and suddenly one day I opened a member and found the delivery fee price.Compared with beforeIt has tripled in one fell swoop. It used to be two yuan or free, and then I tried it for almost an hour from 12 noon to 1: 30 pm that day, and the delivery fee was always higher than usual, which was six yuan at that time, and then suddenly caught my attention. "

Mr. Xiao told reporters that in the following week, when ordering takeout, he often used two mobile phones at the same time to log in to member accounts and non-member accounts for comparative experiments, and found that the difference in delivery fees always existed. So he summarized these observations into an article and published it in his personal WeChat official account.

Mr. Xiao:"Later, after my article came out, many netizens left messages in the background and met this kind of member ‘fool friends or acquaintances in business’ The situation. For example, a single item and a mouse, I bought it in 100 yuan when I was not a member, but I bought it with a member.The price became 110 yuan. After I open a member, the price is higher than that of a non-member, so what is the significance of my opening a member? "

After the article sparked a heated discussion, the relevant take-out platform contacted Mr. Xiao. In response to his query, the platform gave the reply that the price difference in delivery fee was an error caused by system cache.

Mr. Xiao:"I have tried many times, and this is the case within a week. That cache statement certainly doesn’t make sense.Where is the location cache? In the same place, the difference is between members and non-members. I consulted some technical friends, and it is true that the error of this cache is within five meters, but it is impossible to cause such a big error. "

Mr. Xiao’s doubts finally failed to get a clear answer. However, his experience has brought the topic of "killing" big data into the public’s field of vision again. So what is behind the "killing" phenomenon of big data?

360-degree accurate portrait The platform collects a lot of personal data.

According to experts, the most critical step in killing big data is to be very familiar with customers, and thus provide differentiated choices. This has already existed in some previous business models, and there are few negative comments.

Pei Wei, Associate Professor, Beihang University School of Law:"As far as big data killing itself is concerned, it is actually differentiated pricing behind it. For example, in insurance, different people may guarantee the amount or amount of money, or the compulsory period of insurance will be different. Therefore, if we simply use differentiated pricing, it does not necessarily constitute a negative thing. What we are disgusted with is differential pricing without a legitimate basis. "　

According to China Consumers Association, consumers are interested in big data.“The core of the problem is the application of algorithm technology on the Internet platform, which is embodied in recommendation algorithm, price algorithm, evaluation algorithm, ranking algorithm, probability algorithm and traffic algorithm.

Jian Chen, Director of Complaints Department of China Consumers Association:"For example, when a consumer buys goods or services, the platform will form some personalized recommendations for him according to some browsed pages of the consumer or some preferences of the consumer, including his whereabouts. In fact, the operator may have made some accurate personal data portraits of consumers. According to this portrait, the relevant goods and services are only recommended to him, so his right to know is very flawed. "

How is the Internet platform "familiar" with every user? The answer is through user portraits. Behind the accurate user portrait is a large amount of personal data accumulated by the platform.

Liang Zheng, Vice President of Tsinghua University Institute of Artificial Intelligence International Governance.: "With my data, you finally made such a portrayal of me. Is this accurate? If it is too accurate, people will worry about being manipulated. After a little in-depth discussion, I will find that what I care about is its own discriminatory pricing, or is my information reflected behind it improperly collected and used? "

"APP eavesdropping" technology can be realized, but the cost is high.　Low efficiency and high legal risk.

User portraits based on big data can let merchants find out whether you like spicy food or sour food, and rank restaurants that are more in line with your taste through algorithms. User data is often collected by the Internet platform through one mobile APP. In the process of dealing with these APPs, there are also problems that worry everyone, such as the phenomenon of "APP eavesdropping" that we often hear. So does "app eavesdropping" exist?

The APP Governance Working Group consists of a group of cyber security legal and technical experts from the National Information Security Standardization Technical Committee, China Consumers Association, internet society of china and China Cyberspace Security Association.

Technical experts first demonstrated to us whether the APP can eavesdrop technically and what might happen if it eavesdrops through a simulated "APP eavesdropping test program" developed by them.

"We will now enter this test. If we make a speech like this, what happens when the hand is released? The recording actually continues. In fact, we can remove this hint, and the whole process of the test is two minutes. "

Two minutes later, we can see that a 120-second speech was generated in the test program. After the technicians export the voice data, after checking, it is confirmed that "eavesdropping" can be realized when the test program is placed in the foreground.

In addition, after a comparative experiment, the technician told us that the recording can continue for a period of time when the test program is back to the background or the mobile phone is locked, but it will terminate automatically. Just different mobile phone operating systems, the duration of continuous recording under lock screen is slightly different.

Then, is the technically achievable "eavesdropping" method abused in the APP on the market?

Expert of APP Governance Working Group He Yanzhe:"When we actually do this kind of detection of eavesdropping, we found that we haven’t found any APP that has this eavesdropping behavior after uploading voice information."

According to experts from the APP Governance Working Group, although it is technically possible to sneak shots and sneak recordings, this method is costly, inefficient and has high legal risks.

Experts from the APP Governance Working Group said that at present, both the industry standard and the technical level are further strengthening the transparency of calling sensitive rights such as mobile phone microphones, so as to let mobile phone users know.

Expert of APP Governance Working Group He Yanzhe:"Now we see that there are some mobile phone operating systems that have realized real-time prompts for the use of microphones. We call it a recording indicator, which means that when you want to call this microphone, there is a status bar, a red dot or a reminder. "

Accurate platform recommendation is the result of multi-channel aggregation accumulated all the year round.

I just chatted with my friends about the fitness plan, and in a blink of an eye, online shopping platforms began to recommend fitness products to you; Or search for the bottom materials of the overheated pot on a platform, and many platforms have started to recommend the ingredients of the shabu-shabu and even the pots and pans to you frequently. How is such an accurate personalized recommendation achieved?

Expert of APP Governance Working Group He Yanzhe:"An APP, we say that it can make a 360-degree portrait of a user. This portrait, I believe, is the result of years of accumulation, which is the first; Second, it is the result of convergence of multiple channels. "

According to experts, the accuracy of the portrait is mainly achieved through big data analysis of our purchase records, browsing records, search records, and even downloaded application lists.

Expert of APP Governance Working Group He Yanzhe:"Why do you say that sometimes you feel eavesdropped? Providing this source of big data, it is not the current APP, it may be other apps. You have done some operations, it will aggregate the corresponding information together, and it may also associate your friends and people in the same area. Then they have some actions, and it may also become a direction for it to push advertisements. "

Experts suggest that users can find the microphone permission in the permission settings of the mobile phone operating system and check which apps are currently authorized to use the microphone. According to their own needs, users can turn off the authorization to use the microphone for the APP at any time.

More attention should be paid to the illegal collection of personal information by APP.

When the experts of the APP Governance Working Group tested the APP on the market, they also found many problems, such as the long privacy policy, the difficulty for users to understand and the inability to cancel accounts.　

"Let’s give an example. In the process of testing, we found that this wallpaper APP has a privacy policy of more than 10 thousand words. Then let’s see what it says. I believe that no one will finish reading this privacy policy. Even people like us who read privacy policies every day have a headache. For example, this location information written in this privacy policy. The APP said that I want location information. It said a lot of reasons, but I don’t think this reason has anything to do with wallpaper. "

Pei Wei, Associate Professor, Beihang University School of Law: "Whether the privacy policy really serves users or really protects individuals is actually a broken state. Therefore, what is more worrying in the future is the formalization of this protection. "

The APP Governance Working Group has a WeChat WeChat official account platform for "APP Personal Information Reporting" and a dedicated reporting mailbox. Experts told reporters that the difficulty of account cancellation is another problem with a large number of complaints from users at present.

"Take a look at this APP first. There is an account cancellation function. I click to enter my information, and then I find the following sentence is ‘ There is ink balance in the account. Cannot cancel ’ . After I clicked on it, I found that there were 20 virtual coins, which were given by me when I newly registered, and I didn’t buy them myself. I thought, can I use it? It says 49 ink coins. But I only have 20, that is, I have to make up the money, and I will never be able to divide that number. So I can never cancel it. "

Ding Xiaodong, deputy dean of the Institute of Future Rule of Law of Renmin University of China: "From the research of information law, we often have a term called ‘ Digital branding ’ . In this network society, all the footprints are permanently marked. In our country’s personal information protection law, there is a special provision. We say that from the legal rights and interests, it belongs to an individual’s right to delete. "

Pei Wei, Associate Professor, Beihang University School of Law:"The national standard for information technology security, which involves the personal information security specification, specifically mentions this cancellation. That is to say, when you log off or stop using a certain service, its ways and means should be the same as when you use this service. Then at the same time, the information you are required to provide during the logout process should not be more than the information you use and the identity information you provide when using the App. "　

According to experts, the collection of personal information is only one of the links in the circulation of data elements. Protection of personal information security, data storage, processing and circulation also need attention.

Ding Xiaodong, Vice President of the Institute of Future Rule of Law of China Renmin University:"If the front-end link (data collection) is closed, it will actually have a great impact on the development of artificial intelligence and data industry. Then how to reconcile? I think a very important aspect is that after the collection of personal information, it must be managed in a very strict life cycle. We should have an anonymous mechanism and a fuzzy mechanism. When processing, we may have to adopt some principles of data minimization to process the necessary data. In particular, a very high standard should be adopted in the aspects of storage and circulation and the protection of leakage. "

The security boundary needs to be explored by the users of the regulatory platform.

Nowadays, the convenience brought by technology and the protection of personal information are at the two ends of a swinging balance. What role does the law play in the process of "balancing" this balance?

Ding Xiaodong, Vice President of the Institute of Future Rule of Law of China Renmin University:"Our traditional consumer protection law also includes the application of contract law to standard terms, the application of tort law to infringement issues, and many problems in administrative supervision. All these laws can be invoked to a certain extent. But on the other hand, many problems are caused by new technologies such as personal information and algorithms, so to some extent, there are still some shortcomings, and the legislature is actively following up. The entry into force of our civil code may provide a lot of legal support for the protection of personal information. Then the formulation of the Personal Information Protection Law (draft) and the Data Security Law (draft) will certainly provide a lot of additional protection in the future. "

Nowadays, each of us is producing a lot of information. Experts said that in the current social life driven by algorithms and big data, the law plays more of a role of protection. The delineation of security boundaries needs to be explored by regulators, platforms and users in interaction.

Liang Zheng, Vice President of Tsinghua University Institute of Artificial Intelligence International Governance: "From the perspective of laws and regulations, it should be the bottom, and then we draw some red lines, which cannot affect public safety. Even some business models like the digital economy are iterative very quickly, and we can’t wait until the law is enacted. For each problem, there can be corresponding technical solutions to deal with it. It is not unsolvable. The key is that we should make the rules clear. "

　　CCTV News:According to the China Weather Network, the Central Meteorological Observatory continued to issue a typhoon blue warning at 06: 00 on May 31: The center of Typhoon Mawar No.2 this year is located at 5: 00 this morning (May 31) in the northwest Pacific Ocean about 455 kilometers southeast of Hualien City, Taiwan Province, China, which is 21.2 degrees north latitude and 124.9 degrees east longitude. The maximum wind force near the center is 12 (35 m/s).

　　It is estimated that Mawa will move to the east-north direction at a speed of about 10 kilometers per hour, and its intensity will gradually weaken, and it will approach the southern part of the Ryukyu Islands. It will turn to the northeast from tomorrow (June 1), and its moving speed will gradually accelerate. On the 5 th, it will be transformed into an extratropical cyclone in the east of Japan.

　　Gale forecast: From 08: 00 on May 31st to 08: 00 on June 1st, there will be 6-8 winds in the east of Taiwan Province, bashi channel, Taiwan Province Strait, the northeastern part of South China Sea, the southern part of East China Sea and the waters near Diaoyu Island, the eastern and northern coasts of Taiwan Province Island, and the coastal areas of Fujian. Among them, the winds in the east of Taiwan Province can reach 9-10, and the gusts are 11-12. The winds in the nearby sea passing by Mawa Center can reach 11. There is a southwesterly wind with 5-6 grades and a gust of 7 grades in the southern South China Sea.

　　Precipitation forecast: From 08: 00 on May 31st to 08: 00 on June 1st, there will be heavy rain or rainstorm in some parts of northeast Taiwan Province Island, and there will be heavy rain (100-120mm) in some parts.

　　Defense guide:

　　1. The government and relevant departments shall, in accordance with their duties, do a good job in typhoon prevention and emergency rescue.

　　2. Water operations and passing ships in relevant waters should return to Hong Kong to take shelter from the wind, strengthen port facilities, and prevent ships from anchoring, grounding and collision.

　　3. Stop large-scale indoor and outdoor gatherings and dangerous outdoor operations such as high altitude.

　　4. Reinforce or dismantle structures that are easy to be blown by the wind. Personnel should not go out at will. They should stay in windproof and safe places as far as possible, so as to ensure that the elderly and children stay in the safest place at home, and the dangerous people will be transferred in time. When the typhoon center passes by, the wind will decrease or stay still for a period of time. Remember that the strong wind will suddenly blow, and you should continue to stay in a safe place to avoid the wind, and the dangerous people will be transferred in time.

　　5. Relevant areas should pay attention to prevent flash floods and geological disasters that may be caused by heavy precipitation.

　　Xinhua News Agency, Geneva, November 20th Interview: Negative Effect Spillover of Fed’s Interest Rate Raising — — Interview with Ray Dalio, a famous American investor

　　Xinhua News Agency reporter Chen Junxia Chi Xu

　　Rui Dalio, the founder of Bridgewater, the world’s largest hedge fund, said in a written interview with Xinhua News Agency a few days ago that the negative effects of the Fed’s aggressive interest rate hike have caused Europe to face a dilemma in economic choices, and the economies of some developing countries have also been affected, and the attractiveness of the US dollar as an important reserve currency has declined.

　　This is the Federal Reserve Building filmed in Washington, USA on June 1st. (Photo by Xinhua News Agency reporter Liu Jie)

　　After the outbreak of the COVID-19 epidemic, in response to the impact of the epidemic on the US economy, the Federal Reserve implemented an ultra-loose monetary policy, and the broad money supply in the United States increased by about 40% in the two years after February 2020. Excessive currency issuance is considered to be one of the main reasons for the serious inflation in the United States.

　　In response to high inflation, the Federal Reserve has turned to monetary tightening policy this year and continuously raised interest rates aggressively. Dalio believes that it is difficult to fundamentally control inflation by monetary tightening alone. Because inflation will reduce people’s purchasing power, while monetary tightening will weaken demand, which will hurt the economy. The Fed needs to compromise, not go to extremes.

　　He said that the anti-globalization policies adopted by the US government, such as so-called "friend-shore outsourcing" and export restrictions in the technology industry, will continue to cause supply constraints and lead to more stubborn inflation.

　　The spillover effect of the Fed’s aggressive interest rate hike has also affected Europe. Dalio believes that the European Central Bank is currently facing the pressure of raising interest rates, although the euro zone has not previously issued money like the United States. "The United States is now tightening harder, while Europe has not tightened by the same amount, resulting in currency depreciation. Inflation in Europe is more serious than that in the United States."

　　Dalio believes that if the European Central Bank cannot keep up with the Fed’s interest rate hike, Europe will encounter more serious capital flight and the euro will further fall.

　　This is the euro and dollar notes that were shot in Madrid, Spain on August 23rd. (Photo by Xinhua News Agency reporter Meng Dingbo)

　　Since March this year, the Federal Reserve has raised interest rates six times in a row and 75 basis points four times in a row, with a cumulative increase of 375 basis points. At the same time, it has signaled to the market that it will raise interest rates again this year. Since the beginning of this year, the European Central Bank has raised interest rates by 200 basis points.

　　Dalio believes that countries in the euro zone have different financial conditions and need to balance the interests of creditors and debtors. However, unclear policies and poor economic conditions have made the market lack confidence. The monetary tightening policy also makes it difficult for countries with huge debts to pay their debts.

　　"This puts the European Central Bank and fiscal policy makers in a dilemma: on the one hand, raising interest rates may cause stagflation, on the other hand, financial support will aggravate the deficit, and the government has to borrow. This is bad for European bonds and the euro, and it also has a negative impact on the European stock market and economy. "

　　In addition, Dalio believes that some developing economies have suffered the most in the tight monetary environment, and the dollar debt burden of these countries has been increasing.

　　Dario predicted that in the future, due to the fear of the weaponization of the US dollar, the attractiveness of the US dollar as a means of wealth storage will become very low.

[Autohome Xiangyang Discount Promotion Channel] The good news continues! At present, the high-profile sedan is running a high-profile promotion in Xiangyang area. This luxury model is giving back to Xiangyang consumers with a maximum discount of up to 30,000 yuan, and the starting price is already as low as 199,800 yuan. This is an excellent time to buy a car. Friends who want to experience the excellent performance and distinguished experience of Hongqi EH7, don’t miss this rare opportunity. Click the "Check Car Price" button in the quotation form, take action now, seize this real offer, and add a driving pleasure to yourself!

As an innovative luxury car series, the Hongqi EH7 has created an eye-catching appearance with its unique design concept and exquisite craftsmanship. The front face is elegant and powerful, and the large-scale chrome intake grille is integrated with the eagle-eye-sharp headlight group, showing the flagship temperament of the Hongqi brand. The overall style not only integrates modern technology elements, but also highlights the perfect combination of tradition and modernity, so that people can recognize its noble identity at a glance. The body lines are smooth and the proportions are coordinated, reflecting the stability and dynamic of the flagship model, demonstrating the outstanding position of the Hongqi EH7 in the luxury car field.

The side lines are smooth and powerful. The body size of the Hongqi EH7 is 4980mm x 1915mm x 1490mm in length, width and height, and the wheelbase is up to 3000mm, giving it a spacious layout. The side design is compact, with a front and rear wheelbase of 1645mm and 1655mm respectively, ensuring good driving stability. The tire specification is 245/50 R18, and it adopts a dynamic wheel rim design, which not only strengthens the visual impact, but also perfectly blends with the body line, showing a unique luxury temperament.

The interior design of Hongqi EH7 highlights its perfect fusion of luxury and technology. The spacious interior space is made of exquisite leather materials, and the steering wheel is delicate to the touch. It supports manual up and down + front and rear adjustment, providing drivers with a good grip and comfort. The 15.5-inch central control screen stands on the instrument panel, integrating multimedia, navigation, telephone and air conditioning control functions. The display interface is clear and easy to operate. As for the seats, imitation leather and leather/fur materials are mixed and matched to provide advanced comfort. The main and passenger seats support multi-directional adjustment, including front and rear, backrest, high and low and waist support. They are equipped with heating, ventilation functions, and power seat memory in the driver’s position. In addition, the configuration of the wireless charging function of the mobile phone is very practical in the front seat, providing passengers with a convenient charging experience. The rear seat supports proportional reclining, which fully meets the different needs of loading or resting.

For the Hongqi EH7, the engine has a strong power performance. Its maximum power reaches 253 kW, which is enough to meet the driver’s demand for performance. At the same time, the maximum torque reaches 450 Nm, providing smooth and powerful acceleration performance, ensuring an efficient and smooth driving experience. This power configuration undoubtedly adds more driving pleasure to the Hongqi EH7.

Summarizing the views of the owner of Autohome, although your mileage may vary, for the Hongqi EH7, he personally believes that the aura of the real car is strong and unique, and its recognition cannot be ignored. Although he regrets the details of the label change and taillights, this does not affect his overall recognition of the vehicle design. When considering buying, it is recommended that you experience it yourself, especially those potential owners who only judge by pictures. The charm of the real car may subvert the initial intuitive impression.

　　CCTV News:

　　[Military Parade at Sea] The People’s Navy is developing in the torrent, forging ahead in the transformation and growing in the remodeling!

　　According to CCTV-13 "News Live Room", the military parade at sea is very different from the military parade on land. The military parade at sea can show more naval equipment, and our navy consists of five arms. It is difficult for a military parade on land to have a chance to see all the equipment of the whole navy, and the military parade on the sea has unique conditions, which is the biggest difference from the military parade on land. The military parade at sea has the characteristics of the navy. Many naval etiquette is universal in the world, and some unique etiquette is also refreshing.

　　Today’s People’s Navy is welcoming visitors from all directions with a more confident attitude. Self-confidence comes from 70 years of unremitting efforts to strengthen the navy, the prosperity of sea power and the prosperity of the country. This is the inspiration left by history. From the offshore to the far sea, from the air, from the surface to the underwater, today’s people’s navy, submarine attack and defense confrontation, air defense and anti-submarine, and other practical drills are staged in the distant ocean. Intensive offshore combat training has also produced excellent "sailors", and more than 80% of naval division-level commanders have experienced the "baptism" of offshore storms. The People’s Navy is defending national security and maintaining world peace with a brand-new attitude. Looking back on 70 years, the People’s Navy has developed in the torrent, forged ahead in the transformation, and grown stronger in the reshaping. Today, the officers and men of the navy sent their 70th birthday wishes to the People’s Navy with clank vows.

　　["One Belt, One Road" policy communication] Future policy communication focuses on promoting multilateralism through bilateral cooperation.

　　According to CCTV-13 "News Live Room", the second "Belt and Road" international cooperation summit forum attracted worldwide attention. Comply with the trend of the times and jointly build the "Belt and Road", so that countries can see the prospect of mutual benefit and win-win under the background of world multipolarization and economic globalization. Policy communication is an important guarantee for building the "Belt and Road", and the circle of friends of the "Belt and Road" is expanding. With the deepening of policy communication among countries, development strategies are also seamlessly connected. For more than five years, in terms of policy communication, the "One Belt, One Road" initiative and its core concept have been written into relevant documents of the United Nations, the G20, APEC and other regional organizations. So far, China has signed 174 cooperation documents with 155 countries and international organizations.

　　The content of policy communication is very rich. As more developed countries participate, it emphasizes third-party market cooperation, which is also an innovation of China’s human cooperation model. In the future, policy communication will focus on promoting multilateralism through bilateral cooperation. The "Belt and Road" circle of friends is growing, its influence is increasing day by day, and policy communication is becoming more frequent and close. Over the past five years, the "Belt and Road" has spread all over the continents, with frequent good news of policy communication and fruitful cooperation and construction. The Silk Road is a shining global village, and the Chinese plan connects you, me and him. Policy communication condenses the efforts of all parties, and will share more opportunities, innovate and prosper in the future, and connect the "Chinese Dream" and the "World Dream" hand in hand. The initiative has gradually become a reality, and the achievements have gradually benefited people of all countries. Over the past five years, China has continuously strengthened policy communication with other countries, expanded the circle of friends in the Belt and Road Initiative, and sang the strong voice of the times of win-win development.

　　[New Credit Report] Fully and timely reflects the credit status of credit subjects.

　　According to CCTV-2 "The First Time" report: On the morning of April 22nd, the central bank announced the progress of credit information system construction. The person in charge of the central bank’s credit information center introduced that the upgrading and optimization of the credit information system is still in progress. As far as this upgrade is concerned, the institutions and types of data submitted to the credit information system have not changed much before and after the upgrade, so the impact on personal economic life will not change much. At present, the credit information system has not collected personal water and electricity fee payment information.

　　Shi Xinzhong, director of the Credit Legislation and Evaluation Research Center of Capital Normal University, said that the new credit report can fully and accurately reflect the credit status of credit subjects. It is beneficial for financial institutions to reduce the risk of financial transactions. On the other hand, the central bank’s credit report has increased the frequency of information update, which can also reflect the credit status of credit subjects in a more timely manner. The person in charge of the credit information center introduced that the credit information system has not collected the payment information of personal water, electricity and telephone bills, and public utilities. At present, the upgrading and optimization of the credit information system is still in progress, and there is no clear online timetable.

　　[Takeaway Storm] The key to distinguishing crime from non-crime depends on the plot

　　According to CCTV-12 "Law Lecture Hall", a woman ordered take-out on the Internet, and the two had an argument because the takeaway brother was late for delivery. After the takeaway storm, the woman frequently received strange text messages and was suspected of being derailed by her husband. In the face of her husband’s questioning, the female client used alcohol to drown her sorrows, but in the end she almost died of alcoholism. To prove her innocence, she went to the police station to report the case. After the truth was found out, they realized that all this was actually an illegal act carried out by the takeaway brother to retaliate against the bad review of the female client.

　　After the facts of the case were ascertained, the police told the couple that the behavior of the takeaway brother had constituted an insult to others, but they expressed remorse and were willing to compensate for economic losses. Because they did not reach the seriousness of the circumstances stipulated by law, their behavior did not constitute an insult in the sense of criminal law. Legal experts pointed out that the key to distinguish crime from non-crime depends on the circumstances. If the circumstances are minor, it is a civil tort or an illegal act that violates the Law on Public Security Administration Punishment. If the circumstances are serious, it constitutes an insult. Legal experts said that the parties lacked understanding and communication. If the takeaway brother could be more rational, if the wife could be more tolerant and the husband could trust, these contradictions would be avoided. The key to the self-restraint and tolerance between husband and wife is the way to deal with family problems, which is also the enlightenment given by this case.

　　[Investigation on the Death of Boys] Training institutions that wear the cloak of "Chinese Studies" and do harm must be severely punished.

　　According to CCTV-12 "Hotline 12" report: In December 2018, Rui Rui, a third-grade student of Yukun Chinese Studies Experimental School in Siping City, Jilin Province, suddenly fell ill while at school and died a few days later. However, two months later, Ruirui’s parents claimed that there was something else in their son’s death. Ruirui’s mother said that on the second day after the child was cremated, they wanted to contact the school to take away Ruirui’s relics. However, a practice of the school suddenly made them suspicious. Ruirui’s mother was kicked out of the school group, and the founder of the school claimed to recite the scriptures for her children. The child got leukemia because the family was too hard to kill. In the interview, many parents of students said that their children had been subjected to corporal punishment to varying degrees, and they still have psychological shadows. Because of these parents’ words, and recalling the bruises on Rui Rui’s body, Rui Rui’s father is even more suspicious of the truth of the statement that "Rui Rui has leukemia".

　　There are more than a thousand students in such a school, so it must be a school with corresponding qualifications and regular schooling. However, the person in charge of the school said that the accidental death of the child turned out to be due to the heavy killing at home. Is this statement in line with our modern educational concept? Is this a statement that a teaching director should make? Obviously, the problem in this school is not simply a dispute over compensation for the accidental death of a child, but also a big problem in management and educational concept. In recent years, we have seen some training institutions in the society wearing the cloak of "Chinese studies", which are full of corporal punishment, abuse, strong copper smell and commercial atmosphere. This is not a simple case, Rui Rui is just one of the victims, and more children are probably still suffering from the corresponding accidents. On the one hand, the relevant departments should strengthen supervision, and should not relax supervision over school teaching just because they are qualified. On the other hand, parents also have a long heart. The old saying goes well: Half of the Analects of Confucius govern the world, but can children be plated with a layer of gold if they really put on the coat of "Chinese studies"? Sometimes it’s a sheep in the tiger’s mouth to send the children in. (Editor in Charge/Yang Shuji)

Yangcheng Evening News All-Media Reporter Hou Mengfei Zhou Cong Correspondent Wang Ya

On April 27th, the first Great Power Craftsman Innovation Exchange Conference was opened. The General Secretary of the Supreme Leader sent a congratulatory letter, extended sincere greetings to the skilled talents and model workers, and extended festive congratulations to the broad masses of working people. The congratulatory letter from the Supreme Leader General Secretary has aroused enthusiastic response among Guangdong model workers, cadres and workers. Everyone has said that they should vigorously carry forward the spirit of model workers, labor spirit and artisans, take the road of becoming talented and serving the country with skills, and contribute to building a strong manufacturing country.

The important task is to carry forward the spirit of model workers

On the occasion of the "May 1 ST" International Labor Day, we received sincere greetings and holiday congratulations from the General Secretary of the Supreme Leader, and the model workers in the land of South Guangdong were greatly encouraged and excited.

"The congratulatory letter from the General Secretary of the Supreme Leader made me deeply feel that the CPC Central Committee with the Comrade of the Supreme Leader as the core attaches great importance to industrial workers, especially skilled personnel, and shows ardent care for them." Zhang Luming, a great country craftsman and radio communication designer of Guangzhou Haige Communication Group Co., Ltd., said that in Guangdong, there are many South Guangdong craftsmen like him who serve all fields of Guangdong’s economic and social development and carry forward the craftsman spirit of persistent concentration, Excellence, meticulousness and pursuit of Excellence. "I will conscientiously study and implement the spirit of the General Secretary’s congratulatory letter, respond to the call of the General Secretary with practical actions, and influence and drive the employees around me to practice the spirit of model workers, labor spirit and craftsman spirit." Zhang Luming said.

Lu Jianxin is a national model worker, a craftsman from South Guangdong and the chief expert of China Construction Steel Structure Co., Ltd., and is known as "the first skyscraper in China". "As a grassroots builder, after listening to the congratulatory letter from the General Secretary of the Supreme Leader, I am encouraged and feel that the mission is on my shoulders and the responsibility is great." Lu Jianxin said that since the 18th National Congress of the Communist Party of China, the General Secretary of the Supreme Leader has expressed the concept of respecting labor and workers on many occasions, which has made the spirit of model workers, labor spirit and artisans deeply rooted in the hearts of the people.

As a model worker, Lu Jianxin not only does his own job well, but also tries to help and guide others and improve the construction of industrial workers. "In recent years, we have selected a large number of national model workers through the selection of artisans and experts, seven of whom have received special allowances from the State Council, two have been awarded as’ great country craftsmen’, seven have won national technical experts, and more than 30 have won provincial and ministerial technical experts." He said that next, he will lead the team to create more fine products and make due contributions to the country’s development with practical actions.

Young people with strong skills join the tide of construction

Vigorously carry forward the spirit of model workers, labor spirit and craftsman spirit, we must encourage more workers, especially the younger generation, to take the road of becoming talented and serving the country with skills, and provide strong support for building a strong province of manufacturing and scientific and technological innovation.

As a first-line construction craftsman, Zhu Zaosun, winner of the National May 1st Labor Medal and leader of Zhu Zaosun’s labor model innovation studio of China Construction Second Bureau, said that China is accelerating its transformation from a manufacturing power to a manufacturing power, and Qian Qian’s thousands of craftsmen have to rely on hard work, honest work and creative work to inject stronger impetus into the new development stage. "I will continue to take the road of becoming talented and serving the country with skills, establish the concept of lifelong learning, and lead the team to build more high-quality boutique livelihood projects." He said.

Zhou Chuangbin, a national model worker and a senior expert in special tests at the Commissioning Center of China Guangdong Nuclear Power Engineering Co., Ltd., said that as a front-line worker of China Guangdong Nuclear Power, he will continue to work in a down-to-earth manner, carry forward the "rigorous and meticulous" work style, practice the spirit of model workers, labor spirit and artisans, keep pace with the times, be brave in innovation and shoulder heavy burdens, and devote himself to the construction tide of the third-generation nuclear power technology to contribute to the national clean energy construction and the construction of the first demonstration zone in Shenzhen.

Technical colleges and universities are the main positions for training skilled workers and highly skilled talents. "As a laborer and a teacher in a technical college, I feel deeply responsible and have a glorious mission." Xiao Fang, a teacher at Guangdong Institute of Light Industry Technicians, said that it is teachers’ unshirkable mission to cultivate the spirit of model workers, laborers and craftsmen in teaching. "Students in technical colleges shoulder the hope of the times, and craftsmen in big countries are their role models and the goal of their efforts." Xiao Fang said that they will educate students to follow the example of model workers, and guide students to combine knowledge, technology, craftsmanship and innovation to realize the value of life with their skills.

Chen Shi, a member of the first batch of technical education and vocational training teaching steering committee of the Ministry of Human Resources and Social Security and vice president of Guangzhou Technician College, said that as the main position for training skilled talents, technical colleges should take on more responsibilities and make greater contributions, so that students can establish the lofty ideal of "investing in great achievements with one skill and serving the country with one heart". At the same time, patriotism and feelings of home and country are the spiritual pillars of the vast number of talents and the deepest driving force to stimulate innovation and creation. "Our education and teaching not only pays attention to the accumulation of professional knowledge, but also pays more attention to the accumulation of the feelings of the younger generation about the country and the country, and guides skilled students to be ambitious, wise, talented and responsible, and strive to become a new person of the times who can shoulder the heavy responsibility of national rejuvenation."

Do a good job in service and let skilled talents focus on innovation

In his congratulatory letter, the Supreme Leader General Secretary pointed out that Party committees and governments at all levels should deepen the reform of the construction of industrial workers, attach importance to giving play to the role of skilled workers, and make their innovative talents fully flow. The majority of trade union cadres have said that they should do a good job in trade union work with heart, strength and affection, and provide a platform for the innovation and development of the broad masses of workers.

Mai Jiongguang, deputy director of the Group Work Department of Guangming District, Shenzhen and vice chairman of the District Federation of Trade Unions, said that in recent years, Guangming District is striving to build a world-class science city, which requires a large number of high-level innovative talents, scientific and technological talents and craftsmen. The continuous improvement of the quality of a bright society and the continuous development of the economy are inseparable from the efforts and contributions of industrial workers. "As trade union cadres, we are also trying our best to provide a platform for the rights and interests protection, skills upgrading and innovation development of the employees in the whole region, and provide special services for the vast number of skilled talents and scientific and technological workers, so that they can better focus on technological innovation and technological innovation."

Xie Zhihai, director of the Shenzhen Pingshan District Federation of Trade Unions Office, said that the Supreme Leader General Secretary has repeatedly made important expositions on the working class and trade union work. "As a grassroots trade union cadre, I am deeply encouraged and full of energy!" Xie Zhihai said that they should thoroughly study and implement the spirit of the series of important speeches and important instructions of the Supreme Leader General Secretary, continue to carry forward the fine traditions, do a good job in trade union work with their hearts and minds, solve the problems that the workers and staff are in urgent need of, and constantly improve their sense of acquisition and happiness.

Welcome to the Autohome Tianjin Promotion Channel to bring you the latest car purchase information. At present, the much-watched Toyota is launching a high-profile car purchase promotion, and consumers in the Tianjin area can now enjoy a cash discount of up to 38,000 yuan. The minimum starting price of this luxury mid-sized sedan has been adjusted to 143,800 yuan, providing car buyers with a very attractive car purchase opportunity. To seize this price reduction opportunity, click "Chatty Car Price" in the quotation form now to get more accurate preferential policies and the most affordable car purchase experience.

The exterior design of the Toyota Asian Dragon shows the perfect blend of elegance and power. The front face features a bold air intake grille design, with smooth lines and sculptural sense, giving a sense of uncompromising high-end. The overall style draws on the latest design language of the Toyota family, which is atmospheric and dynamic, fully reflecting its competitiveness in the mid-range car market. The delicate handling of details, such as the sharp eyes of the headlights, all highlight its unique aesthetic proposition.

With its slender and elegant body design, the Asian Dragon shows a unique side line. The body size is 4990mm*1850mm*1450mm, and the wheelbase reaches 2870mm, which makes the body proportionally coordinated and the interior space is spacious. The layout of the front wheelbase of 1595mm and the rear wheelbase of 1605mm guarantees driving stability. The tire size is 215/55 R17, and the streamlined wheel design not only enhances the visual effect, but also provides the driver with a comfortable grip. Overall, the side design of the Asian Dragon shows the perfect combination of movement and stability.

The interior design of the Asian Dragon is dominated by luxury and refinement, and the exquisite craftsmanship and exquisite selection of materials create a warm and comfortable driving environment. The classic plastic steering wheel is used, although it is not full of high-end feeling, it feels delicate and easy to control. The 10.25-inch central control screen stands on the driver’s seat, which is full of technology, and the display information is clear and intuitive, supporting a variety of functions. The seat is mainly made of fabric, providing convenient functions such as front and rear adjustment, backrest adjustment and high and low adjustment (2-way) to ensure the comfort of the occupant. The configuration of USB/Type-C interface is distributed in the front and rear rows, which is convenient for passengers to charge or transmit data to electronic devices at any time to meet daily use needs.

The Asian Dragon is powered by a 2.0L four-cylinder engine with a maximum power of 127 kilowatts and a peak torque of 206 Nm. The engine is equipped with a CVT continuously variable transmission that simulates 10 forward gears for a smooth driving experience and good fuel economy.

Summarizing the owner’s evaluation, although the Asian Dragon has won praise for its unique front design and domineering appearance, the owner’s praise for the side lines is particularly prominent. However, his personal preference for rear design is reserved, believing that the taillights, although they look distinctive, may be slightly insufficient in practicality. Despite this small regret, the Asian Dragon has still won the hearts of many car owners with its excellent aesthetic design.

1905 movie network news　Directed by Wing-cheong Law, a well-known Hong Kong director, and starring more than ten powerful actors such as Yam Tat-wah, Liang Yongqi, Luo Zhongqian, Yang Caini and Mabel Yuan, the best companion film of the year will be released nationwide on September 20th, and the pre-sale has been officially opened. The film was screened earlier, and scored 9.3 points for Cat’s Eye, 7.3 points for Douban and 100% for Weibo Big V.The highest score of live-action films in September.

Today, the film released the ultimate preview of "Happy Together", telling the joyful segment of ten years together with Li Baoting (Yam Tat-wah) from Xiao Q’s perspective. Regardless of separation or companionship, Xiao Q always faces his beloved with the purest emotion, and his innocent eyes are extremely healed.nineDuring the Mid-Autumn Festival holiday on March 13th, 14th and 15th, the film will be shown all over the country, so that the audience can feel the bondage between Xiao Q and Li Baoting in advance.

The ultimate defense, the best companionship in the world, the happy reunion, and the warm bombing of the Mid-Autumn Festival.

The preview of "Happy Together" takes Ode to Joy as the background music, which sets off Xiao Q’s happy life. Different from the previous notice, this time Xiao Q changed the image of a guide dog and accompanied Li Baoting as a pet Q. Sometimes she was cute and happy, playing ball, guessing paper cups and running races, and all kinds of games were no different from the "hairy children" raised by every audience. And Li Baoting is also like a loving father, smiling and feeling the happiness of being accompanied by Xiao Q seriously. Although he can’t see his eyes, his look reveals his spoil beyond words. Many viewers thought that the wrong link was opened. After reading the preview, they couldn’t help feeling that "Little Q" was originally a pet movie, but now it feels like a family movie. Warm fried! "

Not only did Yam Tat-wah stay together for ten years in the play, but also took Xiao Q home to live together for three months outside the play, which made the audience feel the truest warmth of Xiao Q both inside and outside the play. Recently, all parts of the country are gradually cooling down, and the weather is getting colder, and Little Q has become the strongest heart warmer in this golden autumn. Here, the film decided to hold a screening on September 13th, 14th and 15th, so that the audience can feel the warmth of friends and relatives accompanying them in the Mid-Autumn Festival, and at the same time let everyone feel Xiao Q’s loyalty and love to mankind in advance.

The original author supports breaking doubts, and the local adaptation is exquisite and beyond the classics.

"Little Q" is adapted from the novel "Goodbye, Kelu" which touched 300 million readers in Asia. It tells the moving story of a clever Labrador dog, Little Q, who has been trained to be a guide dog all his life. As early as 2004, Japanese director Yoichi Sai made the film "Guide Dog Little Q", which touched fans all over Asia. Zhu Yu was in the forefront. This time, Goodbye, Ke Lu came to China to make a localized adaptation, which caused a heated discussion among fans of that year: Will it be inferior to the classics?

This doubt was completely broken by fans after being shown on a large scale throughout the country. Earlier, after the screening of Little Q, it quickly won the support of a large number of viewers. Love and companionship were engraved in the hearts of the audience, with 9.3 points for cat’s eye, 7.3 points for douban and 100% for Weibo Big V. This shows that the market recognized and loved the film Little Q. Different from the novel, Xiao Q focuses on the emotion that Li Baoting and Xiao Q will stick together for life, and lets the audience see the most warm and touching beauty of the world in the dribs and drabs of life, which is extremely healing. It is called "the best companion movie of the year". Among them, there are many fans of the original powder and "Guide Dog Little Q" who cry for "Little Q". I inherited the gene of Goodbye, Kelu, but it is more touching than it. It is more delicate than the Japanese version, and it makes me cry to death. For the first time, I feel that China has a better film than foreign masters. The original authors, Qiu Yuan Liangping and Shi Hei Kengo, also burst into tears after watching Little Q, saying that "this is the best film change of Goodbye, Ke Lu".

The film "Little Q" is adapted from the novel "Goodbye, Kelu" which touched 300 million readers in Asia. It will be released nationwide on September 20 and screened on September 13, 14 and 15. At present, the pre-sale has been fully opened. The film transcends the localization adaptation of the original novel, and the touching story of seeing-eye dogs staying with their owners and being loyal for life will bring warmth to everyone.