To compete with iPhone Gopro sports camera manufacturers because of declining

GoPro sports camera manufacturers said on Wednesday that its third-quarter earnings and performance expectations for the last quarter, however, the levels of these two figures were lower than analysts had forecast.

Results showed that Gopro's net income of $ 18.8 million in the third quarter, an increase of 29% and revenue of $ 400 million (behind analysts had estimated $ 434 million), an increase of 43%; quarter expected adjusted profit of us $ 0.35-0.45 per share (significantly below market expectations of $ 0.82), revenue of 500 million to 550 million dollars (below market expectations of US $ 690 million).

Worth noting is that GoPro in United States revenue is facing a shrinkage of the local market, but focused on Japan, and Korea and China to help the company. GoPro product shipments of about 1.59 million units in the third quarter, up from 1.08 million in the same period last year.

Gopro in addition to facing stiff competition from traditional photography equipment manufacturers such as Sony, also faces previous season kicks off in Apple's iPhone 6s and other smartphones with high-definition cameras pressure, while in the second quarter of this year released its new flagship product--Hero 4 (priced at $ 399.99) lost to expected sales, so two months later was forced to cut its prices to $ 100. And since the release of Hero 4 cameras, GoPro value has roughly halved, apart from the Hero 4, Gopro is not in this year's other amazing products. Pay for 3 months captured in Lijiang

Industry analysts say Gropro remove new products failed to excite consumers desire to buy as well as smart phones outside pressure for two reasons, failed to pay attention to advertising branding is also a major cause of weak growth. It was reported that Gropro last year has not put into television advertising, but users of Word of mouth marketing on social networks and access to a large audience, such as spread of the Superman with GoPro on Youtube.

The Barron's wrote in mid-September, "taking into account the increasing competition, GoPro is a ' dangerous investments '", the company's investors for its ability to fend off competition from Apple, took a wait-and-see attitude.

Facing pressure of performance woes and tumbling, GoPro founder and CEO Nicolas Woodmen (Nicholas Woodman) that Gopro's performance sluggish growth, but demand is still strong. GoPro also worries about capital markets initiative, said on Wednesday, have already approved a $ 300 million stock repurchase program, in the current quarter, the sums involved will be accomplished in a variety of ways, such as on the open market, commodities.

Draft charity law Government ban assessed donation task no qualified individuals

The draft law provides that charitable organizations should be open to the public in a timely manner to collect donations and charitable operations of charities information shall be true, complete, and timely, there shall be no false record, misleading statement. China Visual information

Ten years of brewing the Charities Act (draft) (hereinafter referred to as the draft) on the legislative fast track, in the afternoon of October 30, drew attention to the 12 session of the national people's Congress Standing Committee's 17th meeting.

For charitable organizations condemned not transparency, the provisions of the draft, charity organizations should be open to the public in a timely manner to collect donations and charity operations, charity information shall be true, complete, timely, and may not have any false record, misleading statement. Public donations or charitable program period of more than six months, you should at least open once every three months.

Charitable organization for violation of information disclosure obligations, the provisions of the draft, has illegally obtained, the civil affairs departments to be collected, donation to the charitable organization purpose of the same or similar, and can be directly responsible for the charge and the other persons and impose a fine in serious cases, revocation of registration certificates.

Set up charitable organizations apply only to civil affairs departments to register

Early in 2005, the Ministry of Civil Affairs has drafted the law on charity to promote legislative proposals put forward, and two years later, the Ministry of Civil Affairs to complete the draft. After several modifications, Ministry of Civil Affairs, at the end of 2008 draft will be submitted to the State Council Legislative Affairs Office, but because of the definition of charity is not a consensus, social differences, the Bill could not be successfully submitted to the national people's Congress for deliberation. Until November 2013, the Charities Act was included in the first project of such legislation.

The deliberation of the draft law includes general principles, charity, charity, charity donations, charitable trusts, charitable services, information, promotion, supervision and management, legal responsibilities and by-laws, has 11 chapters, 115.

On the definition of charity, "little charity" and "big charity". "Small charities" refers to the poverty relief response, "big charity" means also include the promotion of education, science, culture, health and sports development, environmental protection and so on, as long as activities in favour of the public interest belonging to the charity.

The draft law on the definition of charity to "big charity". Is responsible for the drafting of the draft the NPC internal and Judicial Affairs Committee considers that this definition as philanthropic activities focused on poverty relief, and for further development of the charity to expand space, consistent with the trends of international charities.

With dual management of different social organizations, the provisions of the draft, established a charitable organization registered with the Government civil affairs departments above the county level to apply for home departments shall, from the date of acceptance of the application the decision whether or not to grant registration in the 30th, registration, and to state the reason in writing.

No public subscription eligible individuals may not engage in fundraising

Charity is inseparable from the charity to the healthy development of specifications, information disclosure is an important measure to regulate charitable behavior. The draft law in the form of a chapter, and requests the authorities and charitable organization information must be made public.

The provisions of the draft, charity information shall be true, complete, timely, and may not have any false record, misleading statement information.

The draft also distinguish between different fund-raising situation, clearly defined object, content and procedures for information disclosure. Such as the 76th article: charitable organizations shall promptly disclose to the public donations and charitable projects in operation. A public subscription periods greater than six months, or at least open a fund-raising situation every three months, open within three months after the end of the Fund-raising should be comprehensive public collection conditions. Charity project operation period of more than six months, at least publicly once every three months of operation, within three months after the end of the project should be fully open project operation and raise money and property usage.

Charity is the main source of charitable property, the draft also distinguish between different fundraising, fundraising provides for qualification, and so on. If does not have a public subscription eligibility organizations or individuals shall not take public donations through public subscription, but can be a public subscription qualified charitable organizations to carry out a public subscription, raised by public subscription of qualified charitable organizations.

Regulators may not be assessed or assessed in disguise donation task

In the chapter on liability, the draft law on charitable activities in violation of the law, distinguish between different situations, separately given regulations.

Draft provides, charity organization if violation information public obligations, and not according to provides for annual report, and unauthorized public fundraising, and unauthorized change donation property uses and privately, and misappropriated or occupation charity property, case, has illegal proceeds of, by home sector be collection, donation to purposes same or similar of charity organization, and can on directly is responsible for of competent personnel and other directly responsibility personnel sentenced fine; plot serious of, revoked registration certificate; constitute crime of, law held penalty accountability.

Obtaining property by bogus charitable phenomena existing in the community, the provisions of the draft, natural persons, legal persons or other organizations in obtaining property by bogus charitable, by public security organs in accordance with the investigation constitutes a crime, be investigated for criminal responsibility according to law. Household registration system reform programme

The draft also provides for regulatory and legal responsibility of the staff of. As violation information public obligations; assessed or disguised assessed donation task, forced specified volunteers, and charity organization provides service; not perform on charity activities regulatory duties; privately, and misappropriated or occupation charity property and other abuse, and negligence, and engages in behavior of, by superior organ or monitored organ ordered corrected; should give disposition of, by appointment organ or monitored organ on directly is responsible for of competent personnel and other directly responsibility personnel law give disposition; constitute crime of, law held penalty accountability.

Central Government support for industry associations will be canceled starting

Photo: CFP

October 27, Treasury official website released on Industry Association Chamber of Commerce decoupling about funding support way reform of notification (pilot) (following referred to "notification"), inside mentioned in gradually reduced until canceled industry association Chamber of Commerce financial funding of while, central financial through purchase service, way support industry association Chamber of commerce development, according to government purchase service related management provides, will suitable delegate industry association Chamber of Commerce bear of service matters into government purchase service guide directory, strengthening information public and performance management.

On July 8, the General Office of the CPC Central Committee, the State Council announced the industry association Chamber of Commerce and the decoupling of the Executive Master programme (hereinafter the programme), in accordance with the timetable of decoupling, a national trade association and Chamber of commerce business units before the end of July will recommend pilot list submitted to the Ministry of Civil Affairs, and finalize the pilot Association and Chamber of Commerce hook implementation. After the first batch of pilot, in 2016, the lessons learned, the expansion of the pilot.

While the programme also mentioned that from 2018, cancel the direct funding of a national industry association and Chamber of Commerce, before retaining the original funding sources of the same; institutional reform split to house all the Government staff financial resources, according to the original regulations.

Pursuant to that request, in support of the industry association Chamber of Commerce decoupling pilot has advanced steadily, industry association and Chamber of Commerce are encouraged speeding up decoupled, the Central Government budget to support the industry association Chamber of Commerce according to the requirements of management continue to give some support.

This notice sets out, in 2015, financial allocations (excluding funds for retired) as a base and take 2016-2017 for funding fall back just the transition period to achieve the Central Government directly linked to progress in decoupling and reducing. Specifically: 2015 decoupling the industry association Chamber of Commerce, respectively, during the transitional period according to the supporting base 100%, 100%; 2016 decoupling, respectively, during the transitional period according to the supporting base 80%, 80%; the decoupling of the year 2017 and beyond, respectively, during the transitional period according to the supporting base 80%, 60%.

Starting in 2018, funded directly by Central Government the removal of the trade association Chamber of Commerce. Institutional reform split to house all the Government staff financial resources, according to the provisions, industry association and Chamber of Commerce of existing funds for retired, combined endowment insurance reform clearly handled separately. National development and Reform Commission outsiders

Meanwhile, in order to strengthen the supervision and management of industry association Chamber of Commerce financial allocations and performance evaluation, and effectively improve the efficiency of fiscal Fund, for violations of fiscal Fund, in accordance with the financial illegal activities penalties and regulations and other relevant regulations of the State shall be investigated for legal responsibility.

The circular also specifically prompted the provinces, autonomous regions, municipalities, separately listed cities, can be combined with the actual, mutatis mutandis, to formulate local industry association Chamber of Commerce approach to funding transition, transition period does not exceed the end of 2017.

It is reported that the industry association Chamber of Commerce from the late 80 less than 1000 to the end of 2014, the nearly 70,000 each year to grow at a rate of 10% to 15%, all kinds of social groups in the largest and fastest-growing.

While industry associations play an important role in national economic and social development, but it is inevitable that a lack of supervision, some industry association and Chamber of Commerce is the Government institutional reform and abolition of the professional sector, has a close relationship with the Government, some even with the influence of administrative departments to the assessed contributions of member enterprises, interested in evaluation, recognition, increasing the burden on enterprises.

For example, audit announced of 2013 central budget implementation and other financial payments audit situation displayed, China City Science Institute 2013 in by housing urban and rural construction delegate for green building identifies evaluation process in the, without approved violations charged participating units review fee 14.1855 million Yuan; Chinese medical will without approved violations charged Qualification exam complex training fee 19.6504 million Yuan, will 618 a continues to education training project of 114 million Yuan income store account outside.

Editorial and double down and the monetary policy framework in transition

 

"Double drop" news opinion on the Central Bank of "water", "QE" speculation. On October 26, the Central Bank published on its official website on "double flat" for the further answering reporters ' questions, "double down" and foreign Central Bank's quantitative easing (QE), a distinction is made.

Central Bank's explanation makes sense. Terminology confusion and even simple analogy does not contribute to people's understanding of monetary policy, as well as the anticipation of future monetary policy. The discussion on monetary policy should be based on the fundamentals of the Chinese economy. This year, the downward pressure on the Chinese economy really fully emerged.

The first three quarters of this year, China's GDP grew 6.9%, last quarter GDP fell below 7% in the first quarter of 2009. At that time due to the global financial crisis, the quarterly GDP growth rates in the next six months fell from around 10% to 6.2% all of a sudden, there has been a migrant tide. Later, in "4 trillion" investment policy stimulus, GDP growth in the first quarter of 2010 to return to 12.2% levels.

Rebound from the first quarter of 2010 the highest point so far, GDP growth has once again returned to 7%, compared with collapse of late 2008 and early 2009 fall, this process is a slow GDP growth down, so far, no mass laborer unemployment situation.

The problem is that regardless of the speed of the decline in GDP growth when the economy into a downward cycle, monetary policy must respond. As some prior to the opinion on the "4 trillion" investment policies differ, so that people are sensitive to Central Bank easing. Some easing of economic regulation needs, is also considered not reasonable "water".

In fact, monetary policy is less this year, but we see price data has been low. In January-September, CPI rose 1.4%, GDP deflator for -0.3%,PPI is maintained for 43 consecutive months below 0. Prices have not warmed because of the easing of monetary policy, reflected the complexity of the issues.

From the troika investment, exports and consumption, China's economy faced downward pressure is evident.

From the perspective of investment in January-September of this year, total investment in fixed assets grew by 10.3%, January-December last year grew 15.7%. In January-September of this year investment in real estate development rose 2.6%, January-December last year grew 10.5%.

From the perspective of foreign trade in January-September of this year, total import and export volume, exports and imports per cent growth respectively of-8.1%,-1.9%,-15.3%, and compared with data for January-December of last year, respectively, and 3.4%, and 0.4%.

From the perspective of consumption in January-September of this year, total retail sales of social consumer rose 10.5%, January-December last year grew by 12%.

When we see that when the gradual decline of the yields on financial products, return on investment in the real economy is declining. So, lower lending and deposit rates are consistent with the market direction.

The "double down" at the same time, the Central Bank announced that he would not set up limits for deposit rates, means that the interest rate deregulation era has ended, market interest rates would in future play a leading role in the Central Bank's monetary policy framework. Deposit reserve rate kept falling, and foreign exchange reduced. In the past few years, foreign exchange became in fact a currency mechanism, resulting in excessive liquidity, by raising the deposit reserve rate to be frozen. Now, foreign exchange reduced, cut the reserve requirement ratio before it can be considered as frequent RRR "inverse operation", therefore, reserve requirement ratio will return to a normal level.

In the course of this economic downturn, people's Bank of China, decisively advance the reform of marketization of interest rate and exchange rate, but also in advancing the transformation of China's monetary policy framework. Over China's currency policy is often due to its "heavy quantities, price of light" (that is, greater use of reserve requirements, little-used rate) was criticized, but in reality, shifting from quantity type to price direction of Central Bank efforts. As the Central Bank in "double flat" at the same time, continue to advance the reform of marketization of interest rate and exchange rate, the new monetary policy framework will be more market-oriented. One day in the eyes of the Chinese health care

Science and technology post Rupert hoogewerf Ma family boarded IT list the top

Photo: CFP

Hu run IT rich list released: Ma family first

On October 23, the hurun Research Institute published the benefits • IT Rupert hoogewerf's rich list in 2015. List, Mr MA and his family fortune to 135 billion yuan, the second IT became China's richest man, MA second to 103 billion yuan, Lei doubling wealth, beyond Li, third-place finish at 89.5 billion yuan.

IT list the top ten, Ma family, and Ma, Lei, Li and his wife, Ding Lei, Liu, and Wang Jing, Jia Yue Pavilion, and Zhang Zhidong and his family.

Chairman Rupert hoogewerf, hurun said, IT is this year's hurun's fastest-rising industry, total scores increased to 11.2% from 7.8% last year. 41% average wealth rose from last year, reaching 23.9 billion yuan, 17 times times that of ten years ago; the list threshold rose 72% from last year, reaching 8.1 billion yuan last year, 20 times.

United States Tech rally

It is today United States newspaper news, closing on Friday, technology stocks such as Google, Amazon, and Microsoft rose.

Three major indexes driven by Microsoft's largest, accounted for the Dow Jones industrial average rose nearly 1/5, led technology shares rebounded. Poor's technology index jumped 3%, rose the most in all major sectors. Microsoft or 10.1%, at $ 52.87, touching the highest level in 15 years, reported adjusted quarterly revenue Nineth consecutive quarters of higher-than-expected.

Google's new holding company, soared to a record intraday high of Alphabet and Amazon after release of better than expected. Alphabet closed up 5.6% at 719.33 dollars, Amazon rose 6.2% $ 599.03.

Facebook and Twitter are also rising, and Facebook shares over $ 100 for the first time.

Ericsson Q3 financial results: net income of $ 366 million rose 19%

Beijing time on October 23, Ericsson released third-quarter results of fiscal year 2015.

Results showed that Ericsson's third-quarter net sales of 59.2 billion Sweden Krone (about 44.222 billion yuan), compared with 57.6 billion in the same period last year Sweden Krone (about 43.027 billion yuan) 3%; net income of 3.1 billion Sweden Krone (about 2.316 billion yuan), compared with 2.6 billion in the same period last year Sweden krona ($ 1.942 billion yuan) 19%.

3% net sales than last year, excluding currency effects, sales fell 9%. But it partially offset by the growth in professional services. Mobile broadband services in North America remained stable, but had declined compared with the same period last year. Under the influence of 4G deployed in mainland China slowed, sales network Department declined. New York Times Google s virtual reality system

United Kingdom broadband providers to involve 4 million by black user information

On October 23, according to foreign media reports, the United Kingdom broadband service provider TalkTalk said the attacks suffered by the company Web site could lead to more than 4 million customers ' personal data was stolen, it may be the United Kingdom one of the biggest data leak ever.

In local time, the company said on Thursday that the investigation is going on, but there may be the customer's name, address, date of birth, telephone number, email address, account details, credit card details and other data had been stolen.

CEO of TalkTalk, daidu·hading (Dido Harding) says: "may this will affect all our customers, I'm not sure, so we issued a warning to all. "

This attack may be United Kingdom enterprise has so far suffered the largest and most destructive intrusion events.

IPhone 7 predictions: or take Home key

According to Business Insider reported that United States investment analysts at Piper Jaffray Jien·mengsite (Gene Munster) have begun to predict Apple iPhone 7 who made significant improvements, but most users even the iPhone 6 is also not understood at this time.

Munster predicted that, compared with the iPhone and iPhone 6 6S, iPhone 7 will have many unique designs. He thinks iPhone 7 will remove the home key, relying more on iPhone application of 6S 3D Touch technology.

Munster said, "as many have speculated, the 3D Touch could prompt Apple to remove the home key on the phone, adding the extra space can be used to help screen becomes larger, or the Smartphone size becomes smaller. "This change also meant Apple Touch ID sensors must be moved to other parts of the cell phone.

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Women save bites continued boyfriend deception was detained donation account

On October 20, 2015, Nanjing, Jiangsu Province, Li's boyfriend Zhang Hongyu leave the ward. CFP

People's daily, October 23, in recent days, woman, bozhou city, Anhui Province, Lixin Li who "to save the little girl" was seriously wounded by dog bites, continuous fermentation in network. On October 23, the people channel from Lixin County in Anhui Province was informed that according to careful investigation of public security organs, being bitten by the Dog Lady Li boyfriend Zhang Hongyu aroused social concern of the donor, made up when Li came home from work to save the girl child was bitten by a dog lie.

On October 22, the criminal suspect Zhang Hongyu for alleged fraud, was detained by Lixin County Public Security Bureau. At present, the donation account is logged off, the case is still under investigation. Breaking News

Primary school students in Wenzhou dizziness nosebleeds school playground is

Ouhai district chashan appears for the first primary school students nosebleeds, dizziness, nausea, odor emissions from parents who suspect the new runway.

A primary school students nosebleeds, Suzhou, Jiangsu, Nanjing, Changzhou several primary schools students nosebleeds, dizziness, rash; 2 kindergarten children Shanghai nosebleeds, coughing – a series of events that took place in September-October, pointed to the new plastic track, plastic playground.

On October 21, the surging News (www.thepaper.CN) learned from the Education Bureau of ouhai district, Wenzhou, Zhejiang, dasan first elementary school in the district, some students nosebleeds, dizziness, nausea, odor emissions from parents who suspect the new runway. At present, the school has suspended construction of the playground, and take measures such as surface cover controls odor of volatile.

Ouhai district Bureau 20th of on dasan a small plastic playground about problem of situation informed said, by check, body does not apply of students white cell index normal, taught indoor air by containing of formaldehyde, and benzene, and toluene, index detection are qualified, "plastic playground, and teaching floor activities field of detection displayed, benzene, and toluene, and xylene, and VOCS, of content is micro-(currently domestic no plastic playground of environment air detection standard)", and has delegate China track and field Association specified of laboratory further detection plastic surface layer of physico-chemical performance.

21st, surging dasan parents of primary one students told news in the "11" laying plastic playground during the long holiday, students 8th has been laid when the back to school, but there is a lot of plastic particles, glue loose in the school, the playground is pungent.

Back to school a few days later, another parent in the letters reflect children group nosebleeds, dizziness. According to the 21st, the qianjiang evening news reported, is located in the first floor of the building's second-year student response to the most severe. One parent said about 50 students in each class in grade at least more than 10 people in nosebleed, giddy almost totally. To 20th, the sophomore has closed, classrooms on the second floor of third-grade students in each class is only about 10 people.

21st, will take a surging news student health to schools to understand, but the school's phone went unanswered.

Education Bureau, ouhai district of the briefing said, growing a small organization of physical discomfort during its students to the hospital, showed that medical students of normal white blood cells. After investigation, the plastic materials have product certification, quality testing report. At present, has commissioned the Chinese Athletic Association specified plastic surface physical and chemical properties of materials for testing laboratories-the East China University of science and engineering, testing runway finished, the results will be released in time.

Ambient air testing, CMA, entrusted the education sector in Zhejiang Province, metrological certification and qualification of professional testing institutions. Among them, the teaching contained in indoor air formaldehyde, benzene, toluene and other indicators are qualified, plastic playground and field testing showed building activities, benzene, toluene, xylene, VOCS, little content.

As for the "little content" such as benzene, toluene, xylene, VOCS compliance with standards? District School Board is "currently no ambient air standard plastic playground", also failed to provide test data.

At present, the tea small has suspended construction of the playground until winter break, and on the construction site, processed; do not allow students to plastic playground activities and take cover measures to control odors, such as volatile.

According to a message issued by the Department of education of Zhejiang Province in April, starting in 2015 in the province starting school runway construction project, plans to use about 3 years to achieve school runway coverage, financed by the city and County to solve. Tea small sports venue overall renovation projects with a total investment of about 470,000 yuan, construction area is about 1900 square meters.

Education Bureau, ouhai district of the briefing showed that tea suppliers of raw materials used in a small plastic playground for Shanghai tianlu elastic material limited company, shipped directly to schools, the runway surface with a 10 mm black particle structure + 3 mm EPDM plastic granules, basketball scene using 6 mm + 5 mm black granules EPDM plastic granules form.

"Raw materials are provided, otherwise had no comment. "Shanghai tianlu surging materials solutions limited official told the news. Sand industry confer long term attention in the

News query many times before the surging "runway" reports, published materials, contractor, service provider involves a number of enterprises.

Thirteen Five Hukou reform goals one country one system

Reform of household registration system reform focusing on the next five years. The economic information newspaper reporter was informed that the forthcoming "Thirteen-Five plan" will continue "Twelve-Five" again after the reform of household registration system you put into them, continue to increase the pace of reform of household registration system, adhere to the classification, and to establish a unified urban and rural household registration system, resulting in household register management system of "one country, one system". The Group merged with public comments the shift

July 2014, the State Council issued opinions on the further reform of the household registration system, and noted that further adjustments to the account migration policies, unified urban and rural household registration system. And identified by 2020, the basic set and complete the building of a well-off society of new household registration system, and strive to achieve 100 million agricultural population transfers and other resident population settled in the town.

At present, the household registration system to be an important means of redistribution of social resources, has also led to many inequalities between urban and rural welfare, relating to employment, housing, medical care, social security and other aspects, so reform is imminent. But it's worth noting is, since the household registration reform in more than a year, although there are 24 provinces, and the Xinjiang production and construction Corps launched a specific programme of reform of household registration system, Shenzhen, Chengdu and other mega-cities, large cities are clearly put forward the points settled in the way, but still relatively slow speed.

Wang yiming, Deputy Director of development research center of the State Council said, the household registration system now advancing in two, but faced greater challenges. "On the one hand, a considerable number of areas a unified household registration system, but became ' public ' of rural inhabitants do not have access to local minimum living, affordable housing and other public services. In addition, some cities are promoting integration with, for local rural residents only, and does not include rural residents.

In addition, the mega-cities such as Beijing, Shanghai, although the system of residence permits, but the threshold is higher. "

Committee on Legal Affairs of the China real estate Association Secretary-General Kang Junliang also told the economic information daily said, the existing household registration system to be an important means of redistribution of social resources, and rational population flow as the inherent requirement of urbanization there is a conflict, is not conducive to the efficient allocation of human resources. Therefore, the household registration system is reasonable, reform is in place is important part of urbanization can effectively promote, in large part to help boost consumption to alleviate the economic downward pressure.

Therefore, the "Thirteen-Five" national expert members of the Committee for development planning, President of the State Research Institute of Tsinghua University, Hu angang said will speed up the reform of household registration system in the future, transfer of classification of agricultural population settled in the town and enjoy the same treatment as local residents.

"The target formation of household registration management system of ' one country, one system '," Hu told the economic information daily newspaper reporters, boot non-agricultural industries and an orderly transfer to medium and small cities and towns in the rural population, and gradually meet the needs of eligible rural population settled in, gradual equalization of basic public services. A abolition of the agricultural and non-agricultural "one country, two systems", the establishment of unified urban and rural household registration system, the full implementation of the residence permit system established to adapt basic public service and cover all the institutional arrangements of the resident population. Second, until 2020 to achieve about 100 million agriculture population and other residents settled in cities and towns, insisted on classification to advance.

It is understood that Hukou reform was a "Twelve-Five" presented for the first time. "Twelve-Five" said that mega-cities to control the population, cities should strengthen and improve the management of population, continue to play the important role of migrant population, small cities and towns based on the actual easing place conditions. Encourage explore policy options, determines the scale of the transfer of agricultural population into urban residents.

The importance to the reform of household registration system, the same as "Thirteen-Five" members of the planning group of the Chinese Academy of social sciences Vice President Mr CAI said at a forum on urban people in China a few days ago, in the context of future urbanization growth, China's economic growth will slow, but successful reform of household registration system will bring 1% to 2% of the potential growth rate.

CAI pointed out that under the future demographic dividend changes, China's urbanization rate will slow. According to reports, aged 16 to 19 years old, rural junior middle school graduate to high school graduation and attended by the group is the main migrant groups. But now, after the stage the crowd to peak in 2014, will turn negative, this also means that the migrant rural population growth rate will be lower. Data show that during 2005-2010, the annual growth rate of 4% migrant workers, but by 2014 the growth was only 1.3%, in 2015 from the present situation to 0.1%.

"Used to live is basically supported by the peasant population urbanization rate in the past 10 years, the contribution of migrant workers to the urbanization rate of about one-fourth. "Mr CAI believes that migrant migrant population growth significantly slowed, accordingly the urbanization speed is significantly slowed down, further reducing China's economic growth.

Think urban growth will slow more than CAI, Wei, Deputy Director of the Institute of urban development and environment, Cass said, urbanization rate of more than 50% after the turning point has been decelerating trend, willingness of urbanization declines.

Therefore, CAI pointed out that continued shifting from agricultural to non-agricultural industries, improve the allocation of resources, is an important source of economic growth, and the key lies in the extraordinary dividend of household registration reform. He expects the full success of reform of household registration system will be able to increase the potential growth of 1% to 2%.

Mr CAI believes that Hukou reform was public goods within the country, so the State cannot be absent or offside, the crucial point is that the Central Government will pay reasonable. Central Government intervention through appropriate means, pay reasonable cost-sharing, sharing bonus, which will be critical to household registration system to advance.

The Chinese director interview with a story

Director Xin Yu-kun. Surging journalist Gao Zhengtu

As a feature film debut, the high starting point of the maze. This film was originally called the funeral the coffin since 2014 First after the youth Film Festival best feature film and best Director, but once again the year in Taipei, Hong Kong, Poland, Busan, 17 regions in the world such as Venice Festival, and received 8 awards.

On October 16, the movie theaters in China.

A movie without stars, rural subject matter, but because the exquisite and sophisticated look very nice in the narrative. This is Director Xin Yu-kun of his own place, even in the face of a media interview quite some "young" outspoken, saying "this movie will tell you award-winning films can also be not ugly", unconsciously I do not know how many peer predecessors shot the knees.

Of the maze stills

Movie with an almost black humor story, to an unclaimed corpses for the Center, around which the secrets of one of the three people in the village and on his mind. Circular narrative of the story is a classic, progressive layers of a mine does not know when it will explode one pass to the next hand. Each person received mine is keeping secrets, cannot be said to confused with clever things, including ignorance and weakness of humanity, there are people in the society and the times threw questions.

Cost of 1.7 million Yuan, a 24-day shoot, this is Director Xin Yu-kun feature film debut of the specifications. Rendered movie looks now, many in the industry is surprised at such cost. In fact, steeped in Xin Yu-kun in the film and television industry for a long time.

Born in baotou, Inner Mongolia Xin Yu-kun, dropped out of high school years was a Director at a private school specializing in XI ' an. He is not Orthodox academic background, had to apply for Director Department of Beijing Film Academy and the Department of literature, there have been lost. After graduation, Xin Yu-kun began as a television TV comedy films, plays, photography, clip, Qi work allowing for various types of training. He liked the Coen brothers and Nolan, who used to write TV Comedy TV are complex circular structure of the book, but because "viewers don't understand" is bouncing. In 2008, Xin-Yu-kun entered the Beijing Film Academy in photography, but the Director has not given up the dream.

After 2013 to begin preparations for the funeral of the coffin, Xin-Yu-kun to stop all other work, families rely on wife who supported close friends called him "Lee". In the First Film Festival Awards, and won best picture and Director of Xin Yu-kun on stage, the first sentence is: "I want to thank my wife ... ..."

"Ang Lee" through the most difficult moments, the big screen release of the maze, the second film, goodbye, not again began working with stars, and has been confirmed for this year's Taiwan Golden Horse Film Festival's opening movie.

Before the screening of the film, Xin Yu-kun accepted the Word Press (www.thepaper.CN), an exclusive interview with Xinhua.

Of the maze stills

"Dialogue"

This is not a discussion of death and burial culture art films

Surging News: movie name of the funeral coffin, now replaced with the labyrinth, wanted to pay tribute to the blood simple '?

Xin Yu-kun: the first name of the mind. Play inside each hero, are is by with everyone are has mind of feel to wrote of, expression has mind cannot said out, but last we trial of when, found this film with other film name has, so on must to modified, at found "funeral home coffin" so a Word, Word of meaning is funeral but no buried of coffin, with film core of props special anastomosis, and I think can with such a outside of of things, to to film named.

We started to walk Film Festival, some in the industry to our opinion is, in fact, the film was released, it was not thought that winning art film feeling stuffy, but it seems to many viewers turned away. Imagine a film back from the movie called "funeral coffin", people will think this is a discussion on life and death, burial explores cultural art films, but it's not, so will feel that the title of the film to get wrong, but also as a released film, requires a more precise type of film.

"Maze" this concept from script creation stage on has has, audience is from a God perspective view these role in maze inside spin, and role they each other are not know other body occurred of thing, they are is in inside tangled Ah, go to go to, then wall, but audience always know they why will such, so I will think "maze" this concept special apt. Of course, I also really like the Coen Brothers film, their full-length debut, blood simple, then, I combined the original name "feelings" and "blood simple" concept, the name "maze", "Labyrinth" just the accurate definition of the suspense genre.

Surging News: the coincidence and the reality of what was the inspiration for the story?

Xin Yu-kun: the producers of the film are, ye people of pingdingshan, Henan province, our village is shooting his own House, he initially told me about a place in their hometown of actual cases, early 90 's of the last century, a charred corpse could not find his family, and quite a few people, then every one involves a little-known story.

This story inspired me, I prefer the black theme, it just has a black, crime, suspense, elements, but there is a difference is that our story takes place in the present, it cannot be assessed in 1990 to take, the first cost will be very high, the second doesn't mean much to today's audiences, identity will be reduced. Identity is at the beginning of writing scripts I will pay more attention to things. So design clues to a parent-child relationship and left-behind women, constructs a complex stories must have a time based on filmed the moment these days, will let viewers agree that this is in their side of what may happen.

Surging News: now that want to do film genre in terms of style, why was the bias documentary?

Xin Yu-kun: the most important reason is cost, to be completed in the shortest time taken, you can't take the time to consider lighting, art sets, plus the film itself is a realist themes of the film, so we made a documentary film, with carrying a video camera, use of natural light effect.

Surging News: Although the budget tight, but still professional. Play with non-professional actors, the majority in rural areas, how to plan for this?

Xin Yu-kun: after the script is complete, I am particularly worried about how in the case of very low cost deployment of actors in question, since this is an ensemble, role a lot. Producers believe that should find a relative "faces familiar" actor, so dispersing more favorable, but my main concern is cost, we are shooting only 1.7 million, and the actors just more than 100,000 paid. In this case, "faces familiar" actor is not satisfied with the fee. Producers also recommends that the face is not familiar with non-professional actors, or even "not money" actor.

Later, I thought, if this movie is the leading actor is a single lead set, that I can find someone who has no experience, so that I can take the time to train her to stimulate her acting potential, but this is an ensemble, I both are full. Finally, we have had in Henan province some Repertory Theatre, dance theatre, theatre and TV star in those who are experienced, they are professional actors, but not involved in larger projects. I find actors standards, the actor doesn't have to play particularly well, but be sure to look for "looks like" actor.

Of the maze stills

Logic says write simple stories

Surging News: ring the narrative structure of the narrative was a classic and quite difficult, this is your favorite narrative types?

Xin Yu-kun: film studies, his favorite films of linear narrative films, I'll pull tab to research stories and complex narratives that took more than 30 minutes worth of video, these exercises gave me some experience. Movie history development Centennial to, story of routine and characters of relationship actually are is in repeat, just era not as, actor not as, so said story is important, how to said is important, using what of logic to put a simple of story said fancy, this is why everyone think Nolan long debut follow color of place, it actually Shun line came is a special simple of crime event, but he with this way tells out, not only rendering out has story more of possibilities, A fan video of the audience a sense of play, just do not simply want to know such a simple story, and would also like to know there is no other possibility.

Surging News: so I wanted to do from the outset this time such a structure of the story, or is the inspiration to form the structure of the story?

Xin Yu-kun: is based on prototype of how we want to present the story, the story itself is a linear structure, producers believe that if this is the film festival route, documentary manner without too much modification is good; I prefer unknowns, you never know which one will the Festival favorite.

I convinced the filmmakers do as I want to, but I too soon to write the story, because if you just tell a story in a very fancy way, the audience will think virtuoso is too heavy on suspicion of, then you need to think about what kind of themes are used to enhance the story kernel and conform to the narrative. Domestic movie has many using such skills told story of film, but many audience think bad of points is perspective problem, so I to rendering to audience a God perspective, film inside four a main of characters will has a to statue incense kowtow of lens, seemed they are is in see with audience, audience exposure Yu which dark of room in, to a God perspective see these characters in fate whirlpool in spin.

Views shadow experience compared rich of film critic people are think real overstating film height of is last a lens, white tiger burn finished incense out of to, slowly shake up of lens, this is a live of perspective, dang audience has know White Tiger fate, again back see he incense of lens, on will is very funny and absurd, pray gods to bless you, but eventually decided himself fate of not gods, but you himself.

Surging News: I heard that there are also questions on the movie review, so in the end looks very bright and positive energy was specifically added to the end of it?

Xin Yu-kun: film festivals and now the show's version of the story is the same, only father and son to give himself up Captioning is not, in the current environment, many viewers can understand why is this thing you add, and delete the thing, does not affect the plot. Many seniors have told me about that, father and son at the end of the casket in the eye lens is the best, I was considering this proposal, intended to cut off later, but there are two issues, one is that I don't have to explain where this Medal, and second, how the Huang Huan Zong Yao came back discouraged.

Why cannot wrote father put medal took has, because I wants to expression father to son do has many thing, son and to father do has many thing, if father in site picked up to medal, later by do of all may are is to protection himself, such design of logic on variable has, pay of meaning on variable has, so plot must if father see son manslaughter has people, simple to protection son to do this thing.

As the creators of the film I had an impulse to express the theme. In order to have a trial, added the title of surrender, the audience will think this father and son escape in dangerous chain of events is a joke, so I feel more obliged to add the final scene had the audience out, first confessed medal drops, second, we will see the whole event victim and the instigator of the whole event had a pass, such fate theme was deepening.

Just do their own thing in the present environment Field experience to complete just prove the charm

Surging News: from initially liked the movie today in this industry, China's movie was very different in the environment, how do environmental influences on you?

Xin Yu kun: took this Department film of when, I is 29 age, nearly had been, from is small of when has Director dream, way Chase dream of process special rough, high school dropped out of to learning movie, but into has a fundamental not learn movie of school, out zhihou found this industry fundamental not himself imagine of so simple, no contacts relationship wants to do movie on barriers heavy.

Then, when I was 25 years old, went to the Beijing Film Academy, to survive a number of TV comedy or advertising, gradually have their own family, living and industry began to feel the pressure, because it is a pyramid, are at the bottom of the film workers lived a life lived outdoors, for people with families, it is not a long-term solution. 29 years old I have a opportunity to make a feature film, then I will take the opportunity to try, risk failure might change the risk to do it. So I just do my own thing in the current environment, I do not have to pay attention to the external environment.

Surging News: many people compare you with Ning, is a rare story of a Director, what type is your hope for the future creation?

Xin Yu-kun: after creation, I want to do film genre into account audience, not deliberately to self expression and complex creations of the author. Now operation of big project are is to profit, certainly will repeat to do some things, once was do this type fire has, everyone will to do this type of film, such yilai market on will missing many type, I wants to keep himself original do some small cost of type tablets, because you of cost small has, returns pressure small has, you of free creation space big has, to creation out like Nolan, and Kun Ting such in movie industrial within cannot produced creation style and vitality.

Goodbye, no stills

Surging News: your next movie goodbye, also has gone is the opening film of the Golden Horse Awards, as a newcomer, two movies starting point has been very high. Look at how his present state of creation? Stars join make a movie feel any different?

Xin Yu-kun: Goodbye, never see again was I held a learning attitude to participate in a project, this film is a Singapore Director Chen Zheyi as producer, wants to set up an international youth Director on the partnership. Me, Thailand Director xiwaluo·kongsaku and Singapore Director Chen Shijie co-directed, took a 30-minute video, three of our respective focus on family, friendship, love relationship to creation. Actually from style to content, this Department film with heart maze are completely not as, it discussion on characters Zhijian emotional distance of proposition, on I for challenge difficulty is big of, because I no took had expression delicate emotional of film, on like Director Zhe Chen art dad mom is not home that feel, on I for this is a learning of opportunities, we collective creation, collective discussion.

Wilson Chen in this play very hard, his plays three different roles of different backgrounds, he challenges far greater than the Director's test. Work with idols, I have some mental burden, but cooperation so far, who have been very accommodating, Director even came up with some unexpected way to actively participate in the creation, as an actor, this is very rare.

Zhengzhou younger sister attack whistle blowers insiders say revenge but staff

Zhengzhou "younger sister" had shocked the nation. Photo: network

The night of October 13, broke the news in Zhengzhou on weibo "sister" event after five media Yang Yanfang in Zhengzhou, Henan road and was wounded near the Golden waterway. Through a number of media reports on this matter, on October 15, informed the Zhengzhou Public Security Bureau official micro-blog about this message, and the case has been accepted by the district police, at present, the case is under further investigation.

It was reported in the Beijing News, Yang Yanfang lover Liu Shuzhi told reporters that Yang Yanfang 13th, at 6 o'clock in the evening after work, in front of the unit was beaten by 4 young men and "coma", diagnosed by Zhengzhou Yellow River hospital, identified as skull fractures, intracranial hemorrhage.

Several media reports, Yang Yanfang was later rushed to the Henan provincial people's Hospital intensive care units, has been critically ill notice, is still in a coma.

Yang Yanfang family members told reporters, the assailants had left a cell phone at the scene, after the departure of the attack, and sent others to look for. Family members say, who was caught by the police after searching for cell phone users, but the "now." Revealed to the family and the police, is behind the assault of two young women, once Yang Yanfang's subordinates. Liu Shuzhi said didn't know Yang Yanfang and contradiction between the two women.

Interface journalists call the Zhengzhou Public Security Bureau publicity Bureau, staff said, cases are under investigation, we are trying to track down the men, the case has not detected, not disclose specifics. Subsequently, interface calls police handling the case of journalists, and Liu Shuzhi calls are not connected.

According to South City reported October 15 of reported, Zhengzhou City Public Security Bureau a informed people to South are reporter revealed, Yang Yanfang was playing for with General of employees disputes contradictions by raised, is not Dr as "Zhengzhou room sister" burst material people was retaliates against, "Dr of employees find acquaintances to, eye occurred fight event, yesterday afternoon police and Dr of subordinates has to catch, but progress is not know. " Today s local news select list emergency lane

The night of December 26, 2012, real-name authentication on SINA weibo as "Henan Henan Branch Office Director, Hong Kong News (chip) President" the Netizen Henan Office tweets @ Hong Kong news broke after the girl an account in Songjiang district, Shanghai, an affordable housing community in Zhengzhou has 11 sets of economically affordable housing estate, one of the biggest set of 258 square meters. Leaks also said, this girl is the Bureau of Zhengzhou city official's immediate family.

With microblogging and constantly broke, the media revealed the girls ' father, former Director General of Bureau of Zhengzhou erqi district Zhai Zhenfeng. Later in January 2013, Attorney Zhai Zhenfeng filed investigation on December 18, 2014, Zhai Zhenfeng embezzlement crimes, embezzlement, bribery, bribery by Zhengzhou intermediate court sentenced to 25 years. Case to Zhengzhou city, known as "sister."

Twitter behind certification as Editorial Director of the Henan branch of Hong Kong reporter was Yang Yanfang, he served as Media Editor, reporter, served after the elephant editor-in-Chief of the Institute of public opinion.

Henan junior high school girls were classmates stepped head forced kneeling

Henan TV app "urban stories" on October 13, two days, one named "discovered in a middle school in jiaozuo school violence" video went viral on the Internet is, attracted the attention of many netizens.

This video suspected to occur in the classroom, one of the girls shouted in a loud voice another girl dressed in school uniforms with short sleeves, asked her to rummage through your mouth lollipops in the trash. Short sleeve girls forced to repeatedly bent over, head into the trash basket, was kicking from time to time.

15th school, jiaozuo, Henan is responsible for this incident the school principal surnamed Liu told Xinhua, on video, and does happen at their school, time is in the afternoon of October 10 at recess. Student Wang Bian Moula to classmates waste basket, Wang stepped back to Bian Mou, let her pick up lollipops in the waste basket.

Introduced, according to Liu, the two girls didn't have a great deal of contradictions, after the event, school leaders and local education Bureau immediately involved students and their parents to the school, to understand the situation.

Liu said, Wang Bian Mou and the parents and the parents to apologize. School Wang first tested the criticism of education, psychological counseling the Bian Mou, both parents have reached a settlement. According to the rules, Wang will be major demerit. Pingyi Shandong farmers demolition room were burned

Face fierce comments many users, Liu principals themselves out of fears that two students, a 13, a 14 years old, hope that the majority of users on children easy, for children not to have extreme opinions, otherwise the child will grow up to be very negative.

Liu also said that would increase the students ' moral education and prevent such incidents from happening again.

Published third quarter GDP economists expect growth of less than 7

Photo: network

On October 19, the National Bureau of statistics will release third-quarter GDP. At the moment of the economic slowdown, economists expected China's economy is not so optimistic.

Survey of 25 economists by Bloomberg News, analysts predict that Chinese economic 6.7% in real terms in the third quarter. China's official growth targets set for 2015 as "about 7%".

Bloomberg reported that the investigation expected to drop with a target value for the first quarter of 2009 to the Max, when China's economic growth fell to 6.2%, well below the 8% target for the year, but in 2008 the 4 trillion stimulus, 2009 economic growth is driving up to the year 9.2%.

Recently, a number of agencies also made a forecast of economic growth in the third quarter. ANZ's lowest forecast value, 6.4%; Netherlands International Group predicted in Asia 6.5%; UBS forecast for 6.6%. Morgan Stanley and France Societe Generale Bank's forecasts are more optimistic, as 6.9%.

Zhipeng Hu, China Economist at UBS wrote in the report, "We the next third-quarter GDP data is expected to show growth in real GDP per cent down to 6.6%, that of the continued downturn in the real estate market, industrial activity shrinking, weak trading volumes reduced significantly and exports weighed down. " Free trade zone in the Pudong new area over the

Statistics Bureau spokesman Sheng laiyun, end of September once publicly, of not less than 6.5% GDP growth will be regarded as approximately 7%.

Research Institute of Chinese Academy of social sciences, finance strategy released on September 28, the report said, total economic demand in China in the third quarter, gross domestic product (GDP) is expected to grow by about 6.9%.

The report points out that major indicators of China's economy in the third quarter was no better: investment growth was still slow, steady consumption growth, exports currently there are signs of improvement, industrial growth rate slightly down, serious structural deflation.

In recent weeks, the Chinese Government introduced a series of steady growth measures, including ratification of additional infrastructure and cut mortgage down-payment requirements. Meanwhile, the Government is also committed to promoting structural adjustment measures, such as the reform of State-owned enterprises.

Held on September 28 "NAES quarterly analysis of the macroeconomic situation (2015 3)", said Gao Peiyong, Research Institute of Chinese Academy of social sciences, Member, financial strategy Dean, the current Chinese economic overcapacity, bubbles, de-leveraging is still unfinished, four-quarter domestic and international economic situation is more severe, the domestic economy has "inertial decline" of risk.

Shanghai Baoshan Wanda response tiring elevator is now used two flags developers

Trapped in elevator fault, the customer photographs.

The evening of October 11, Shanghai Baoshan, Wanda Plaza, an elevator malfunction, 9 passengers rescued after being trapped for about 2 hours. After surging journalists noted that involved elevator "elevator use flag" and Wanda produced "elevator use flag" not only at different times, registration codes are different, why?

October 12, at 10 o'clock in the morning, surging journalists in Shanghai Baoshan saw Wanda Plaza, involved the 21st observation elevator has stopped using. In this regard, Wanda officials said elevator is also involved in the investigation.

According to the official, the incident occurred, sightseeing elevator downstairs from 4 to 1, 21st floor, 7 adults and 2 children, 1/f, enter the elevator, a line of people pressed the up button, and started down the elevator, down to stop between B1 and B2. Passengers through the three-way calling for help, maintenance personnel arrived at the scene found the elevator brake stuck, not up and down floor. Elevator monitoring display, when the elevator drops slowly, Elevator passengers are not falling.

Trapped customers take elevator to use signs.

The time of the incident, passengers trapped in the lift snapped "elevator use flag" that shows the elevator next maintenance inspection time is March 2015, means that maintenance testing time has been exceeded for more than six months.

In this regard, Wanda later in a media interview, produced a next inspection time elevator use logo for March 2016, and said the failure of the elevator since the store is still in use, has been the normal maintenance and factory direct they not just replace tag.

Wanda produced "elevator use flag" Kunming dismount village impasse Qiu he initiated

However, surging journalists noted that the two "elevator use flag" is marked as the 21st, but the registration code, as well as using completely different.

At noon on October 12, Wanda explained, 21 for the elevator shaft encoding, 24 for the coding of elevator equipment, in use, as developers use different encoding and elevator equipment into the 21st, 24th in the elevator shaft, led to 11th in desperation, take the wrong elevators use flags. Elevator has passed the test in and of itself.

Journalists surging by Shanghai elevator inspection system inquiry found that the two elevators are represented by the registration code for Baoshan, Wanda Plaza, test date in April 2015, the next check time for March 2016.

It was also trapped passengers later said, were trapped for up to 2 hours, and two of the trapped elevator in the children cry, in this regard, many netizens questioned why it takes so long to repair?

Baoshan market supervision agency Twitter restores incident: October 11, 2015, at 18:05, is located in Baoshan 128 Memorial road, Wanda Plaza, Atrium elevator downstairs from the 21st, B1 and B2 stops running. Was trapped personnel immediately call emergency rescue phone, 2 minutes Hou standing points dimension insurance personnel from B1 layer of Office arrived incident site rescue, for the elevator for inorganic room elevator, hold gate hold died, rescue moment met resistance, rescue personnel immediately notification Corporation overhaul rescue team, Corporation sent people Yu 18:50 arrived site, and in four floor with artificial way will elevator upgrade to a floor put flat, 20:25 will personnel saved out.

Bureau officials: China's economy is "flat", the l-shaped or showed a slightly downward slope

When the pressure and power dynamic balance over a period of time is relatively stable, it should be said the economic bottom. Surging materials

7% China's economic growth in the first half, growth further down on last year. Has experienced rapid growth in previous years, China's economy has been in a slow downward trend in recent years. China's economy will be able to find out the bottom? There will be "Cliff" down? People will always have these questions concern the Chinese economy.

Growth shift in accordance with law

Long term is already in "flat", maintaining high growth is the goal and ideal State

10%, 9%, and the 7% ... ... The last five or six years, China's economy continued to drop. At present, this channel is already approaching or at the bottom? Economic growth in the future will show what kind of status?

"Any economy develops to a certain level will shift in economic growth, this is the universal law of economic development all over the world. In the new normal, need to shift China's economy. But the concern is, this two-year downward rate has slowed significantly. "The National Bureau of statistics said Pan Jiancheng, Deputy Director of China economic situation monitoring center, from 2012 to now runs China's economic growth fluctuations remain within the tight range of 7%-8%, which is its own quarterly GDP growth never happened on record. Slowed in the downturn, but be very gentle, can also be said that in the long run are already in a "flat".

Pan Jiancheng says, "now, is unlikely to economic growth this year is lower than 6.9%, above 7.1% is also unlikely, realization of 7% per cent growth target for the year is unlikely".

Then the end of the slowdown in China's economic situation is it possible and form a solid base at around 7%? "According to the shifting trends, this ' flat ' can be a slight downward tilt of the ' l '-shape flat bottom. "Said Pan Jiancheng.

National development and Executive Dean of the Institute of strategic studies, Renmin University Liu yuanchun said: "from 2007, the trend of economic growth as an asymmetrical 'W',2008, 2009 is the first bottom, bottom of the second after the transition may be required, when implementing a new comprehensive power, stock sector at the end of the integration will start to take on a new round of rapid growth in embryonic form. "

How to determine whether the economy bottom formed? Pan Jiancheng proposed analysis method of dynamic balance: "China's economy is under pressure and the dynamic interaction of two forces the dynamic development of both this, but not long, is constantly changing. When the pressure and power dynamic balance over a period of time is relatively stable, it should be said the economic bottom. " Anti corruption storm straight to the SFC inner

Wang yiming, Deputy Director of development research center of the State Council believe that slowing economy toward equilibrium must meet three conditions: seen from the demand side, the growth rate of investment to a "soft landing". From the supply side, excess capacity to be "cleared". From the perspective of growth and new power to lead. "At the moment, new growth points are emerging, but volumes are not large enough, the stars without the Moon, new impetus to growth was not sufficient to compensate for the weakening of the old power. After completing the alternate new and old power, the economic balance. "

Growth dip after the Chinese economy will be running, and speculation. The view was expressed that, China will be "v" shaped bottoming out, back to rapid development. In this regard, said Pan Jiancheng, the State implemented a series of macro-control policies, keep shifting rhythm of smooth, mild, it is not easy. No need to pursue rapid growth with economies shift to maintain high-speed growth is our goal, it is an ideal State.

Development not only on speed

Delta is in the process out of the bottom of the economic structure better, higher quality, more people get stronger is to highlight

Into the new normal economy, is in the old and new energy conversion stages, like a chrysalis into a butterfly, full of pain and hope. At this stage, to observe if you look only to the growth of China's economy, unavoidably biased.

"All along, we focused on economic growth at the bottom, while ignoring the economic bottom of the Delta. 6 years to economic increases are out of the bottom of the course, send out positive signals of the economic trend. "Said Pan Jiancheng, 7% China's economic growth in the first half of this year, this is the growth in size of $ 10 trillion economy, Delta is enormous. When the economy reaches a certain level, increase of economy should not be underestimated.

Economic growth presents "l" shaped smooth slowing at the same time, economic increase in our country has come out of a flat "u"-shaped rebound. It is estimated that in 2010, China's economic growth is 10.6%, by 2014 years price increase is more than 4.47 trillion yuan, 2015 assuming a 7% pace, constant price increases are more than 4.45 trillion yuan, a nearly 5-year high, almost corresponding to the 2010 10.6% growth increments.

Careful analysis of the 7% of China's economic growth in the first half of this year, we can in terms of overall growth of "plain", see the bright lights behind its people full of hope.

Economic structure better. Growth drivers are moving from traditional industries to service industries. Tertiary industry 8.4% in the first half, an increase of 0.4%; service share of GDP, increasing its share to 49.5%. Meanwhile, economic growth from investment and exports towards consumption of traditional pull. Contribution of consumption to economic growth in the first half reached 60%, an increase of 5.7%, the basic role of consumption-led growth further.

Economy of higher quality. Growth from high polluting and high energy-consuming industries, turned to high-tech and strategic emerging industries. The first half of the high-tech manufacturing industry value added grew by 10.5%, significantly faster than the overall level of industry. Industrial investment from high-tech manufacturing investment than 1.9% and less than industrial investment 4.8% investment in high energy-consuming industry.

Get a stronger sense of the people. Town to achieve the annual target of 72% new jobs in the first half of the year, large urban towns survey unemployment rate is around 5.1%, stable employment expansion. While national per capita disposable income grew faster than economic growth, the consumption capacity of residents, prices remain stable.

"While the economy slowed down, but the new growth comes to manifest, when the next round of the global business cycle downturn, China is likely to lead. "Liu yuanchun said.

"Evaluation of the economic development and the well-being of the people is the most important. As long as they can ensure relatively full employment, income growth and economy, improvement of ecological environment and economic growth a bit higher or lower are acceptable. "Pan Jiancheng suggest more rational and comprehensive view of economic development, with more comprehensive indicators to measure: from growth to an increase, from quantity to quality, from speed to efficiency, the shift from growth to development.

China's economy will not "hard landing"

Economy have the basis, conditions and have the power. If you slip out of a reasonable interval, with enough capacity to deal with

Recent data showed that China's economy is still facing some downward pressure. Many people worried: will the Chinese economy "Cliff" falling, "a hard landing"?

Pan Jiancheng that economic risks, there must be two combinations:

Combination of short and long term. "Economic development is a marathon, not a Sprint, short term economic indicators decline or fluctuation does not affect economic fundamentals and long-term trend, the so-called ' volatility potential is still good. "

Combining local and global. "Local, local industry greater volatility, in the country as a whole can be completely controlled. Never point to misjudgement of the situation throughout the country. "

"Efforts to prevent and resolve regional, systemic risk, China's economy will not ' Cliff ' decline. "Huang yiping, Vice President of national school of development at Peking University judge.

From fundamentals support see, China economic has huge of potential and inner power: new industrialization, and information, and town of, and agricultural modern process of advance; structural reform stream release of reform bonus; venture innovation inspired all people of infinite creativity; people life on public products, and public service huge of needs; "area way", and Beijing Jin JI collaborative development, and Yangtze River economic with three big strategy of led,, China economic future to good has based, and has conditions, and has power.

From the perspective of risk, in recent years, despite downside pressure, but the Central Bank has no extra money, the Government did not make a large strong stimulation, but mainly relies on reform to enhance the economic vitality, which stabilized the situation, also left a space for further regulation. "Once the economy shows a reasonable interval of slide may be, we have enough control tools are available. "Said Pan Jiancheng.

While growth has slowed, but the Chinese economy is still kept within a reasonable range. "To properly understand the drop in economic growth, strategies under the new normal on the normal state of mind. To lead the community to the new normal has reasonable expectations through steadfast reform and economic growth smooth shifting. "Said Pan Jiancheng.

Noteworthy is that as the economic situation changes, a "reasonable interval" is adjusted dynamically. "Reasonable upper and lower limits of the range of different periods and should be changed. The ' Twelve-Five ' during growth is reasonable to keep 7%-8%, ' Thirteen-Five ', I think 6.5%-7.5% is more reasonable. If international factors is large, full upper and lower limits can be translated 0.5%. "Said Pan Jiancheng.

"Reasonable range largely depends on where we can withstand the economic downturn. For example, tertiary industries are increasingly able to absorb labor, while labour supply is down, even lower economic growth, employment will not have a problem, this time a reasonable lower bound of the interval can be lower. "Liu yuanchun said.

Dongguan Crown Prince Hotel was evacuated five star employees only one third

Photography/Liang Zhou

On October 9, the national tourist hotel Assessment Committee announcement, revoked for seven "five-star" status, including Dongguan Crown Prince Hotel (plate number: 4450046), the announcement did not disclose to withdraw Prince "five-star" status, specific reasons.

However, staff at the Dongguan Huangjiang town, is the oldest and most luxurious five-star hotel, Dongguan, now frolicked business was quiet, does not see a past success.

Dongguan Crown Prince Hotel opened in 1996, is the rare five-star hotel in Dongguan, Dongguan, had referred a "city card". The late 1990 's, more come to Dongguan foreign investment and trade, Prince Hotel become the main hotel reception of VIPs, the most brilliant time, Prince Hotel has up to 60% per cent of guests are from Europe and Hong Kong and Macao.

After the operation, due to the outstanding performance at the Prince Hotel, in 2005, the Hong Kong TVB series revolving doors of vengeance chose Prince Hotel as a base for filming, making famous the Prince again.

A staff member introduces interface journalist to the Prince, Prince, resplendent, with more than 500 luxurious guest rooms and suites, replete with Chinese food, Western food, there are sauna, rehabilitation centers, performing arts museum and other places of entertainment.

However, the sauna rehabilitation centre was established in 1998, brings the Prince "over the Hill", but also mislead the Prince, into the abyss. The late 1990 's, Dongguan's sexual services from hair salon into the hotel, Prince Hotel's sauna centre offers sexual services.

February 2014, the rehabilitation centre for Prince Hotel sauna is CCTV exposure risk nude dancing talent and to provide prostitution services, then the sauna Department seized on the rehabilitation center. 11 golden week Chinese outbound tourism boom Hong

On May 27 this year, Liang Yaohui Prince, the boss and employees a total of 47 people were prosecuted by procuratorial organs. Prosecutors said Prince Hotel sauna only 2013 annual revenues over 48.9 million Yuan and Ding Zhen, head of the Finance Department statement said the Prince, "sauna daily income was estimated to be around 100,000 yuan".

Interface journalists have visited Port-au-Prince Hotel, found today's Prince Hotel has frolicked empty parking and sauna centre haven't trimmed flowers in front of the building, reflecting the business situation of hotels deserted. Sauna with its seal rehabilitation center in front of, "Prince Hotel" sign words have become dilapidated.

Above the hotel staff told reporters that the Prince, in addition to food and accommodation and other services, including sauna in CCTV exposure was stopped after its yellow, has so far failed to open. In addition, the hotel staff has been reduced to about one-third, also had to be the Prince of arrears of wages, and so on.

In July this year, 9 sectors, such as civilization Office, Dongguan city, Dongguan city, released credit "List" Dongguan Crown Prince Hotel was added to the promise enterprise "black list". Dongguan Bureau of human resources, said Prince, over more than 100 staff 3、4、5yuefen wages totaled $ 1.2743 million Yuan.

Yellow-related events of the Prince, Liang Yaohui OYC its Dongguan International Conference Hotel could not be successfully completed, in 2009, Liang Yaohui has vowed to build it into the nation's largest five-star hotels. However, according to the economic daily news reported, Dongguan OYC Hotel International project Liang Yaohui construction will no longer be in an accident last year, has shut down more than a year.

Alibaba is facing serious challenges in fiscal year 2015 growth slows

Photo: AFP

On October 8, the company announced the first annual report since going public.

The annual report as of March 31, 2015. United States generally accepted accounting principles (GAAP), Ali 2015 fiscal year revenues reached 12.293 billion US dollars (about 76.204 billion yuan), up 45.14% from fiscal 2014; 3.923 billion dollars net profit in the same period ($ 24.32 billion yuan), more 3.92% only over the fiscal year 2014. Free cash flow of $ 7.8 billion.

Ali Baba explained that high net profit growth was mainly influenced by the listed equity award a one-off financial recognition. Under the non-GAAP, Ali 5.643 billion dollars net profit (about 34.981 billion yuan), up 23.72% from fiscal 2014, but the obvious slowdown in growth compared with the previous.

Market analysts believe that Ali's net profit growth is slowing, could once again undermine the confidence of investors, its shares continued to fall.

This is Ma Yun has just released a long letter to stabilize investor confidence reasons. As of press time, Alibaba No significant stock price fluctuations, at $ 66.67, or 0.69%.

According to the Wall Street Journal News, Alibaba's quarterly results had disappointed investors twice since. First quarter ending last December, once up to June this year slowdown of Alibaba.

Research firm T.H. Capital LLC. founder of Tian x. Hou says, is a risk for investors, the company lacks experience in communicating with Wall Street. She says is partly responsible for lack of good skills in communication with the investors in Alibaba.

But slower growth, income and trading fake Alibaba problem and intensified competition in the market is a continuing source of concern. As the core city electrical contractor market reaches saturation, the company began to expand into the rural market with, but progress has been slow, rural electrical contractor has not made substantive progress.

Alibaba is the leader in e-commerce market in China, but China's economy is slowing is not a trivial impact on the Alibaba group. But Ma stressed in his letter to shareholders, the world was overreacting to a slowdown in China, and he believes that China's economic slowdown will not hurt the consumer:

"Alibaba trading volumes in domestic retail market by the end of March 2015 fiscal year has reached 2.4437 trillion trillion yuan, 9% per cent of total retail spending in China. We expect that within a decade China consumer 50% above will be carried out via the Internet, so the e-commerce market is huge. "

In the 2015 fiscal year, Alibaba platform heaven cat + active buyers Taobao amounted to 350 million people, 289 million people active mobile users. According to statistics from CNNIC, as of December 2014, the total number of Internet users in China to 649 million.

Annual report quoted McKinsey said that China's wealthy and middle-class to reach 545 million in 2015, and by 2030 this figure will reach 829 million. 49.9% per cent of GDP up to 2013, China's gross savings rate, the world's only 22.8%. michael kors purses

China's online shopping population penetration rate in the year 2014, only 12.4%, it has created the world's largest e-commerce market and it is anticipated that penetration will double in five years. Alibaba said along with China's economic development, 2019 e-commerce market will reach us $ 1.97 trillion (about 12.52 trillion yuan).

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Alibaba a year MA letter don t draw a comparison between apples and Apple trees

The evening of October 8, Alibaba's Jack Ma, Chairman of the Board of Directors with "Zen" computer input, wrote an article on open letter to shareholders, described Ali's future strategy, platform, capital markets and competitors, and concerns of the outside world.

Surging News (www.thepaper.CN) informed that later in the day, Alibaba will be published after the first complete annual report.

On September 19, 2014, the company listed on the New York Stock Exchange, and amount to $ 25 billion in financing on the history of the world's largest IPO (initial public offering) record.

Last year, overseas investors in Alibaba questioned frequently. Now the price of the stock had fallen below $ 68. As United States October 7, Ali shares at US $ 66.28. November 10, 2014 and if Ali's record $ 119.15 compared to historical prices, price has fallen by more than 40%. That decline, far beyond a decline in Dow Jones industrial average or poor's index over the same period.

"A lot of people confuse us with other e-commerce companies, and therefore with the GMV (total volume) growth rate as a criterion to our model. In fact, narrower today, e-commerce is only part of the Alibaba group, we strive for is to create an open, transparent and collaborative business infrastructure platform. "He wrote in the letter.

Ma said that as of the end of June 2015, has 34,000 employees of the Alibaba group, which specializes in "China's retail market" with the GMV (transactions) the number of employees less than 10,000 people, some employees supporting nearly 3 trillion yuan of turnover, 9% per cent of total retail spending in China. In addition to e-commerce, about half of its employees and affiliates Ant gold suit and Rookie, engaged in the great strategic significance of the new business, including logistics, Internet banking, data cloud, mobile Internet, advertising platform and other business, and after ten years of health based on data and digital entertainment business.

"Simple enterprises engaged in electronic commerce in the market today as the company's rival, was comparing apples and Apple trees, it is inappropriate for both sides. "Mr Ma said.

Ma also talked about China's economic slowdown's impact on Ali. Ma said the slowing economy on China's future prospects are far more advantages than disadvantages, China no longer needs the increase in the number of economic development, but long on quality. He does not agree with the view of the economic downturn will lead to consumption, because the Chinese philosophy of life, unlike in the West, basically the total saving, "the economy is bad may not have no money to spend", and because of e-commerce convenience and affordable, in times of economic downturn, "people are more willing to spend money on the Internet".

The same day, Alibaba Group CEO (Chief Executive Officer) Zhang Yong also said in an open letter to shareholders, Ali, all investments are in strict accordance with the implementation of the strategic deployment, "annual results, quarterly and even monthly performance of mergers and acquisitions easier to understand, but we can't be investments to short-term earnings growth. And invest for the future strategic decisions, is often different views. Layout of our investments and to vote before and after the investment, investment in management, there are strict procedures and controls. "

Following is the full text of the open letter to shareholders of the MA:

To company shareholders are:

Alibaba listing in New York just after one year, please allow me to take this letter, on behalf of the company, and I personally, have always believed and supported the company's customers, employees, investors, and partners said.

Last year, the global stock market volatility. We observed and listened to the market on our views and suggestions, but we know better the company's present and future path. Alibaba today than ever, to be healthy, strong and calm. We insist on our own development strategy has made a lot of progress.

Launch day as I said, we in the United States stock market collection of $ 25 billion, is not money, but people's trust in us. Is because this trust, we has responsibility and shareholders and public maximum degree of keep transparent, and close, and Frank of communication--especially due to Alibaba currently provides of international service also just began, in overseas of shareholders and care we of public cannot directly using we service Yu China customer of products, led to is most people from outside see Alibaba, has "mirrors", and "across sea see people" of sense, is not clear Alibaba group of real positioning.

Here, I want to share some of our shareholders think.

, Alibaba's strategy is to create the future of business infrastructure, e-Commerce Alibaba's overall strategy the first step

Many people confuse us and other electronics retail company, and therefore our GMV growth rate as a criterion to our model. In fact, narrower today, e-commerce is only part of the Alibaba group, we strive for is to create an open, transparent and collaborative business infrastructure platform.

By the end of June 2015, Alibaba Group employs a total of 34,000. , Which specializes in "China's retail market" associated with GMV employees number fewer than 10,000 people. We were only about 10,000 people completed the nearly 3 trillion yuan, GMV's platform, platform for which GMV to nearly 300 million yuan per capita. Despite such efficiencies, we still think that we also need to improve their technology and products, absolutely no human sea tactics, relying instead on innovative technologies to win the market. The next few years, we have the opportunity and ability to create global-scale enterprise in the most efficient, while creating eco-jobs most business organizations.

Remove above 10,000 and B2B business team and back up the supply chain, our team of nearly half of the total number of employees engaged in the great strategic significance of the new business. We believe that only by investing in the future, only the long term strategy, the company can have a real future.

We are aware of only rely on Internet technologies and data, only to create a truly innovative business infrastructure, able to fully help SMEs to do business. Because of weak business base in China, giving Alibaba a unique opportunity in the world--to build infrastructure for future business in China (not the e-commerce infrastructure). About half of the employees of our group and associated companies Ant gold clothing, and the rookie for several years in an effort to engage in logistics, Internet banking, data cloud, mobile Internet, advertising platform and other business, and after ten years of health based on data and digital entertainment business, which we call the "double h" industry: Health and Happiness (health and entertainment).

Today, invested rookie logistics system has been helping about 10 billion packages each year, our active financial already services nearly 400 million Internet users, our business in the world of cloud computing and maintain the annual growth rate of more than 100%, our mobile Internet products, including search, maps, browser also provides the indispensable basis for Chinese users services. We will provide tens of millions of Chinese enterprises in the future e-commerce, finance, logistics, cloud computing, big data, marketing services, cross-border trade in services.

Our layout of the future is based on a unique long-term strategic thinking in advance. Although these platform businesses is far from our goal, and today gave us a huge income, but the prospect is enough to make people excited for the future, we will stick to.

We firmly believe that the age of Empire-development is over, we should stick with the ecological development of the platform. Only ecosystem of enterprises in development, we are a community of interests, and to sustainable development.

Today, we are part of the strategic operations have begun. A case study of logistics, company fiscal year 2015 more than 24 million packages a day, our partner receiving Daily Express Logistics employees engaged in shipping and transportation services, we expect that after ten years, China will have 10 million people engaged in express logistics services. It is up to organizations of social power to do things, rather than any one company alone can do good things. We believe that the next three years thanks to rookie logistics platform of unique services, express logistics services will be changing, logistics will become more standardized, normalized, will allow customers more attentive service. Logistics services company will be any standard, rather than the core competitiveness. Therefore, helping all the courier company as soon as possible to achieve a high standard of service is high standard ability of rookie mission.

Second, the relationship between China's economic development and the company's

Recently, signs of a slowdown in China for public concern and even panic. It fully demonstrates that China's economy is thoroughly integrated into the world economy and also has a considerable influence. But I have to be realistic, said continued speeding economic growth that is not reality, it is impossible to continue, nor China should pursue "performance".

Speeding economic growth at the cost of ecological environment destruction. Government transformation and upgrading of the signal again and again, 08 pressures of the financial crisis, weary of investment and exports, and enjoying rapid growth under the inertia of thinking, China's economy has reached the era of non-upgrade is not available. GDP of yesterday simply because of the extensive growth model is unsustainable economic development. In fact, if still yesterday seeking unreasonable speed growth, then China pay the higher price.

I firmly believe that the slowing economy on China's future prospects are far more advantages than disadvantages. China no longer needs the increase in the number of economic development, but long on quality. China even with the 5%GDP of the world's second-largest economy growth rate has been 1 time more than double the growth rate of developed countries.

The past 30 years, China's economy has experienced emancipation of dividend, dividends of open policy, but we don't pay attention to stimulate productivity--the most important force in human creativity and innovation. GDP growth is manufacturing, and growth depends on the quality of life is creative. I believe China can play in this room is really too much.

Future of Chinese economy from exports to imports from exporting economy into its domestic economy, will run from the infrastructure investments into infrastructure. China will use high-tech, new models and marketing to address sustainable development issues. All in all, China's economic potential is enormous. Despite the difficulty will not be small, and the miracle of China's economic future certainly lies in the productivity release data and Internet technology to bring domestic demand to stimulate leap-forward development of opportunities.

Slowdown on Alibaba will it affect you?

Alibaba trading volumes in domestic retail market by the end of March 2015 fiscal year has reached 2.4437 trillion trillion yuan, 9% per cent of total retail spending in China. We expect that within a decade China consumer 50% above will be carried out via the Internet, so the e-commerce market is huge. Based on this, 80% per cent of enterprises used the Internet, China's e-commerce platform, logistics, financial services, cloud computing, as well as cross-border services. Alibaba today's investments are making this possible. Alibaba's business and undoubtedly closely linked with China's economy, but we think Alibaba's services will be in the future a business after water, electricity and land the fourth essential business infrastructure resources.

As the economic downturn will bring the consumer downturn, I do not agree with this view. Think the downturn in China, Chinese people do not want to spend this theory reflects not understanding of China. The Chinese philosophy of life, unlike in the West, Western consumers in developed countries are good at spending money in the future, and the Chinese people always save, savings deposits of the Chinese people is the highest in the world. Western consumers borrow less money in bad economic times spent, while the Chinese did save for old age crisis-proof, therefore, bad economy may not necessarily have no money to spend. And because of e-commerce convenience and affordable, people are more willing to spend money on the Internet.

There are nearly 300 million middle income earners in China over the next ten years, based on current trends, China will have 500 million middle-income population. Today the consumption level of medium income earners far below their levels of income. Consumption is relying on innovation stimulation, Alibaba's business model will be the main engine of the future to stimulate domestic consumption in China. In this connection, we can see from the double consumption of 11 came out. China lacks domestic spending power, but to think about how to detonate their purchasing power. Whether it is promoting imports, or pull three or four lines of urban needs is to stimulate demand for more than 600 million farmers, the company can do and there are so many places you can play a role.

Spring river duck Prophet ... ... Born great companies always in difficult times, I believe that the Chinese economy from quantity to quality adjustment will be produced in the course of several of the world's truly remarkable company, Alibaba, hoping to become one of them. Cao Tong joined the micro-Bank Governor resigned

Third, the development direction in the future: globalization, rural markets and large cloud computing

Our vision for the next decade will revolve around globalization, rural economy and development.

The globalization of our business focuses on helping SMEs take their own borders, the world of SMEs to use e-commerce, Internet banking, data, marketing and logistics platform. Only let their business globalization to global consumers can purchase any national and regional products and services. Today we believe that Alibaba in China's experience in developing the same application in the development of globalization as the global demands of SMEs is the same: unique in the transparent and fair market competition. We believe that the globalization of the world economy in the future, must be a national small business globalization, but also allow all consumers to realize the global share. To this end, we have prepared for a long time, implementation may take 10 years, even 20, we will spare no effort to uphold the principle of "not difficult to do business in the world" mission!

China has more than 600 million farmers and rural business infrastructure still lags behind. But today the situation has undergone great changes in rural areas, rural mobile penetration getting higher and higher. Especially with Taobao and sky cat city consumer market, farmers can directly connected to and living in the city. We are currently using mobile Internet technology, data, logistics platforms and Internet financial reconstruction of rural infrastructure of information technology, which not only gives us a huge potential market, but also in addressing the digital divide and information equality, addressing poverty on development, Alibaba, to actively participate in the opportunities and blessings. Because Alibaba's services, we see the countryside is changing. We also welcome all shareholders can go to rural China study, we tried hard today may be as a model for future development of many developing countries. At this historic moment, the company must embrace change, changes in investment, creating change!

The past 6 years, huge strategic investments in Alibaba is in cloud computing, and data services. We believe that human beings have in entering Data from the IT age Technology (DT) era. Data is the most important means of production innovation in society in the future, humans will be inseparable from the data. We have data input and development at all for development. Group is essentially a data value of our company, we firmly believe that we are in the last 6 years and the next few years in terms of data and technology will have a huge return on the investment. We are trying to get data and computing power to be Pratt's economic foundation. Nevertheless, we still feel compared with future potential, cloud computing, and data is still a baby.

On the outside viewed the company's challenges and our views.

Alibaba has a lot of challenges, but they may not be of interest and our own interest. Such as competition, Ali Baba used to talk about the competition, do not avoid talking about their competitors ... ... Alibaba was founded 16 years also no shortage of competitors. We are not a protected enterprise, we are in a tough competition in the market the company came in 16 years, we have learned to keep idealism and values, and tenacious survival, this will not be easy.

We do not fear competition, we just apply layout and perfect implementation of the strategy to win the competition.

Alibaba of positioning is started one commercial of change, we build of is future commercial of based facilities, we is for engaged in sale of businesses assigned can, and not and engaged in sale of businesses competition, from this is said, today market Shang so-called of "competition opponents", actually are is future we assigned can and help of object--in other words, simple of put today market Shang engaged in e-commerce of enterprise as Alibaba of opponents, is put Apple and Apple tree compared, is on both are not right of.

Alibaba faces biggest challenge, not from competitors but from our future control and his ability to control. Our grand vision and unique ecological system, we need to have a variety of specialized talent, needs to adapt to the future business development of the unique organizational culture and organizational structure, massive business ecosystem and rich and complex structures that we need not only in the traditional sense of enterprise management personnel, but leaders in various fields, innovator, pioneer ... An average age of 29 years old, start 16-year history of the company, the challenge is enormous. In short, our talents, organizational culture, management style, the ecological relationship between business and Government agencies ... Seems to be hard for us to draw lessons from. A young company committed to the challenge of an unprecedented human task difficult, beyond imagination. But this is a rare opportunity for the times. 16 years we have been saying to myself: at this very moment, not belong to me. (If not now, when? If not us, who?)

Dear investors, Alibaba listed above, the first report to the communication we thought on the development of in length, although a bit long, but it is every word is out of my own. Thank you for your investment in the growth of a business ecosystem in the future. Your investment in our view is a trust.

Ma

Alibaba Group Chairman of the Board of Directors