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BYD Song family has added a new car!

On October 31, Song L officially opened the pre-sale. As a B-class hunting SUV, five models were released this time, including four rear-drive versions and one four-wheel drive version. The pre-sale price was 220,000-280,000 yuan.

Song L is based on E platform 3.0, equipped with CTB battery body integration technology, Yunqi -C, electric four-wheel drive system, DiPilot intelligent driver assistance system and so on. It can be seen that as a product with a price of over 200,000, BYD will naturally match the housekeeping technology neatly.

Let’s take a closer look at the highlights of the new car.

Break 100 in 4.3 seconds, and the battery life can reach 662 kilometers.

In terms of power, Song L provides two driving forms: rear-drive and four-wheel drive, among which the rear-drive version is divided into high and low power adjustment, and the maximum power is 204 horsepower and 313 horsepower respectively; The four-wheel drive model system has a comprehensive power of 517 horsepower and an acceleration time of 4.3 seconds per 100 kilometers.

In terms of battery life, Song L provides battery packs with capacities of 71.808kWh and 87.04kWh. According to different vehicle configurations, the pure electric cruising range of CLTC is 550 km, 602 km and 662 km respectively.

Double wishbone rear five-link independent+cloud web -C chassis

Of course, as a hunting car with positioning movement, it is natural to talk about control.

In terms of chassis, the new car adopts front double wishbone and rear+five-link independent suspension, which is also the chassis configuration of many high-end models. At the same time, the new car is also equipped with Yunqi -C system and iTAC intelligent torque control system, which further improves the stability of vehicle driving control. In particular, the Yunqi -C intelligent damping body control system can help it achieve the perfect compatibility of vehicle comfort and handling.

Song L is equipped with E platform 3.0 platform and adopts CTB battery body integration technology, which can make the torsional stiffness of the car body reach 40,400 N m/,the torsional deformation of the car body is smaller, and the response of the car body is faster, which not only improves the safety performance, but also brings better handling.

In terms of braking system, the new car is equipped with self-developed four-piston aluminum alloy fixed pliers, which has fast braking response. It is reported that the braking distance of Song L within 100 kilometers is less than 36 meters, which not only runs fast, but also stops steadily.

Intelligent configuration: DiLink intelligent cabin +DiPilot intelligent driving

As BYD’s intelligent "old two", Song L is also equipped with DiLink intelligent cockpit and DiPilot intelligent driver assistance system.

DiLink smart cockpit is equipped with a 10.25-inch full LCD instrument screen, a 50-inch AR-HUD head-up display, a 15.6-inch adaptive floating PAD, and a new generation of DiLink is built in. It is worth mentioning that the new car uses a 6 nm process chip, integrates 5G baseband technology, and runs 550,000+,so it will have a good performance in process.

In terms of DiPilot intelligent driving assistance system, the new car has up to 24 sensors, more than 30 safety assistance functions such as fatigue monitoring, automatic emergency braking and blind spot monitoring, and it is also the mainstream L2+ intelligent driving strength at present.

The wheelbase of the car body is 2930mm, which exceeds Model Y.

The dimensions of the new car are 4840/1950/1560mm and the wheelbase is 2930mm. Compared with Model Y, the body size advantage of Song L is more obvious, especially the length and wheelbase. Compared with Model Y, it is 90mm and 40mm more respectively.

In order to further enhance the ride experience, there are many comfort configurations for new cars. For example, it is equipped with an integrated sports seat, which has many comfortable functions such as ventilation, heating, massage and leg rest. HiFi-class customized Dana audio, DiLink exclusive microphone and other configurations have also improved the vehicle entertainment experience.

Design: the most beautiful BYD SUV?

Song L adopted the latest design language of Wangchao. com, known as "BYD’s most beautiful SUV". The biggest highlight of the new car design is the adoption of cross-border modeling. Its body posture is very low, the waistline is on the rise, and it has a strong sense of quantity, showing a momentum ready to go; The slip-back shape of C-pillar is in place, the trend of outline lines is restrained, and the whole posture is just right.

The front face of the new car has also been changed, adopting the new generation of "Pioneer Beauty" design language of Dynasty Network, and the front face design is simple and moving; The sharp headlights on both sides are integrated with the "dragon beard", which flows with light and shadow, showing a sense of advanced; The two "dragon teeth" next to the front bumper are the finishing touch of the front face.

In addition, Song L is also equipped with a borderless door, an active electric lifting tail, an active air intake grille, a suspended spoiler and other sports configurations, highlighting the sense of movement and grade.

Song L’s interior design adheres to the current family design, but the overall style is more luxurious and sporty. For example, the new generation of BYD Heart electronic gear has further enhanced the sense of science and technology in the cockpit. The application of NAPPA leather, luxury suede and other advanced materials, as well as the coverage area of up to 85%, make the interior of the vehicle more luxurious.

As far as the personal aesthetics of Dianju Xiaobian are concerned, Song L is indeed better than the past Song family SUV models, and it is not an exaggeration to say that the American BYD SUV is good.

So, do you think BYD Song L is BYD’s most beautiful SUV? Welcome everyone to leave a comment below!

　　On the 2024 Guangzhou Automobile Science and Technology Day, Guangzhou Automobile launched an unmanned pure vision intelligent driving system and an all-solid-state power battery. () It has achieved a key technical breakthrough in mass production of high-safety and large-capacity all-solid-state power batteries of vehicle specifications, and has three core advantages of ultra-high energy density, ultra-high safety and large-capacity all-solid-state batteries. It is expected to be loaded on Haobo vehicles in 2026. Guangzhou Automobile Map-free pure visual intelligent driving system can be applied to complex and changeable whole scenes, and it does not need high-precision maps, does not rely on lidar, and combines visual sensors and industry-leading AI algorithms to realize intelligent driving with wider coverage. The volume energy density and mass energy density of GAC all-solid-state power battery are increased by more than 50%, so that the cruising range of the whole vehicle can exceed 1000km. Guangzhou Automobile Map-free Pure Visual Intelligent Driving System has three leading abilities in visual recognition, including the ability to accurately understand complex traffic roads, the super traffic signal recognition ability and the ability to deal with complex and changeable scenes. In addition, GAC’s map-free pure visual intelligent driving system also has the ability of continuous learning and evolution, and can iteratively optimize the algorithm in the simulation test to achieve self-improvement and evolution.

People are afraid of changing their names, but cars are even more afraid.

Our own brand may have been used for less than 10 years, and the joint venture brand has just learned. As for the luxury brand, Brother Cha thinks it is the most conservative one.

Stepping into March, a wave of new cars hit, in order to stand out from the crowd, you can really try to change a good name and get out of the circle quickly, such as the title "Free Artillery Car", which has properly become the focus of hot discussion in these two days.

Everyone knows that the Great Wall pickup truck is called "Great Wall Gun (parameter picture)", which is not only easy to remember, but also full of power, which reminds people of the explosive power of pickup trucks when climbing hills and pits. However, the newly launched RV, which is made by Great Wall and Hebei Lanzhong RV and converted from pickup trucks, has a one-bedroom and two-bedroom independent kitchen and toilet, which can take you to poetry and the distance, with a pre-sale of 318,800-358,800 yuan. It should be a niche product, but it has been changed.

Brain supplements brain supplements, and the product strength of the free cannon is good in the RV. The 2.0T diesel/gasoline engine (maximum power is 120kW/140kW, peak torque is 400Nm/360Nm)+ZF 8AT gearbox, intelligent four-wheel drive system+rear differential lock, 660L super-large capacity through luggage compartment, independent kitchen, storage stove, double bed, sofa and 24-inch.

It is not an accident for the Great Wall Department that the new car is not listed, and it is circled only by its name. From last year’s Haval Dog, first love, white/black cat, tank to the recent WEY Mocha, there is no familiar routine, only what you can’t think of, and no Great Wall marketing team dares to change it.

I still remember that "Harvard First Love" was first announced at last year’s Beijing Auto Show. At that time, Tea Brother’s first reaction was that his ears were not working well, and a colleague was even more giggling and puzzled: I can understand what you said about a big dog, which is quite in line with the personality of a small off-road SUV, but the first love is very big. What should I do if I want to buy the first love, but my wife doesn’t allow it?

In any case, "walking the cat and driving the tank, first love the free battery car" has left a deep impression on the market, which is enough. It’s normal that you will be questioned by the avalanche if you don’t play cards according to common sense, but Brother Cha will praise this whimsy.

Of course, many people DISS. This is just an eye-catching scam. Come on, consumers are very rational now. Buying a car depends on the strength of the product. If you can sell it with only a strange name, you can build a popular car by yourself.

Following closely behind the Great Wall Department is FAW Toyota. Allion, the new A+ sedan of TNGA platform unveiled at Guangzhou Auto Show at the end of last year, was originally transliterated as Aolan, but the Chaoshan pronunciation was suspected to be indecent. At that time, there was a heated debate and even overshadowed the limelight of the new car. Today, judging from the official final name of "Asian Lion", Yifeng listened to the opinions of the market.

It is true that when the Asian lion came out, the keyboard men came to vomit again. Did Yifeng keep a "zoo"? The Asian dragon comes first, then the Asian lion, and the brain will make up for the next abundant version of Highlander. Is it even harder? I lament that the requirements of netizens nowadays are really high, and transliteration and free translation are a bit difficult to adjust.

In fact, the Asian Dragon is the best example of nickname boarding the temple, and the new car Allion is positioned under the Asian Dragon, and the English name lion also implies the meaning of lion, so the naming of "Asian Lion" is not unexpected. Moreover, the brand/car system named after vigorous and flexible animals has long existed: Jaguar Land Rover, Outback, Beauty Leopard, Ram … As long as you search online, the articles about popular science cars named after animals have long been ruined.

The product strength of Allion Asian Lion was also explained in detail by Tea Brother before. It was positioned as an A+ sedan with a wheelbase of 2750mm, and the 2.0L+CVT gearbox with the same model as Asian Dragon was listed at the end of March.

If Yifeng is a little bolder, it can adopt the Great Wall to name Allion as a global name for Haval Dog, which should be more sought after, so that the new car will be popular before it goes on the market; However, there are many talented people among the people, and there are uncontrollable risks. At that time, the name of Haval Big Dog was a bit "played badly". As a result, I found that the tea brother is still old, and the acceptance of new things is not fast enough for the majority of netizens. Now, looking at the name of the big dog, the sense of substitution is very strong, and the owner is also happy, which has become a beautiful stroke of bicycle marketing.

Aside from naming new cars that don’t follow the routine, English+numbers are still the most popular names, or English names are transliterated. The former are mostly European brands, such as mercedes benz c, Audi A4L and Volvo S60L, while the latter are common in Japanese brands, Corolla and Fit. Of course, there is no absolute gap between the two. In the naming of joint venture models, Tea Brother thinks that the most wonderful one is ODYSSEY, a brave and clever ancient Greek hero Odysseus, who has overcome countless hardships and dangers in a ten-year journey, which has both heroic connotations and distant symbols.

SAIC Chase MAXUS Latest Pickup: SAIC Bull

There are many meaningful names of independent brands in consumers’ minds, such as BYD dynasty series: Qin, Han, Tang, Song and Yuan, Geely’s "Star", "Bo" and "Bin" generations: Borui, Xingrui and Binrui’s car series, Xingyue, Boyue and Haoyue’s SUV series, which are very representative, and almost every one is said.

A good car name is not only loud and meaningful in the market, but more importantly, it captures the minds of consumers. Even if it is inadvertently remembered or mentioned, people can’t help but think of it, so that the named segment has reached the level of "moistening things silently" and the audience is willing to spread it.

The naming of English+numbers is not necessarily brilliant, but the brand aura can’t be ignored. Mercedes-Benz’s classic "When you can’t choose, you can’t go wrong with choosing C" and "After five passes, you will cut six generals" are all based on BBA’s super brand and the product strength inherited from several generations. Of course, you can play like this, and other brands can only match it.

Tea brother’s words:

Named after new cars that don’t follow the routine, tea brothers are expected to come one after another (at this time, they turned their eyes to the Great Wall), which is a very good thing. The rims are more diversified, but in the end they are still excellent products.

It’s okay to change any name, but promise us that we won’t use the permutation and combination of Plus, Pro, Max, etc. after the car name. People in the car circle like Brother Cha sometimes have to react for a while, not to mention the average consumer, who is 200% stupid and confused, has its own brand @all.

Viewpoint Network News:On April 22,Announced the launch of new models of the Tang series, including the glory version of Tang EV, the glory version of Tang DM-p and the 2024 version of Tang DM-p Ares, with a total of 6 models. The new model comes standard with Yunqi -C intelligent damping body control system, which enhances driving comfort and safety.

Among them, there are 3 models of Tang EV Glory Edition, and the price range is 219,800 to 269,800 yuan; Tang DM-p Glory Edition has two models, and the price range is 229,800 to 249,800 yuan. The 2024 Tang DM-p Ares Edition has only one model and the price is 269,800 yuan. These new models are equipped with DM-p hybrid system, and are equipped with super intelligent electric four-wheel drive as standard. The acceleration of zero is as fast as 4.3 seconds, and the fuel consumption per 100 kilometers in comprehensive working conditions is as low as 6.5L.

It is particularly worth mentioning that the 2024 Tang DM-p Ares Edition is also equipped with a differential lock, which can better cope with outdoor off-road scenes. In addition, the two-wheel drive version of Tang EV Glory Edition has a pure electric cruising range of up to 730km, and the four-wheel drive version is equipped with front and rear dual motors, with super intelligent electric four-wheel drive, achieving a zero-speed acceleration of 4.4 seconds.

BYD hopes to further cut into the highly competitive 200,000-class automobile market through the rejuvenation of the Tang series.

　　On April 19th, Evergrande, Huawei, Baidu and other "new forces to build cars" frequently acted, or released new cars or announced intelligent solutions for automobiles. On the same day, the A-share automobile index plate rose by more than 6%, among which the driverless concept stocks and the automotive electronics concept stocks set off a daily limit.

　　Text, Table/Guangzhou Daily All Media Reporter Ni Ming, Zhang Lu, Chen Lili? , Xu Xiaofang

　　Mobile phone terminal business will decline in 2020.

　　Huawei switched to auto track.

　　On April 19th, an all-media reporter learned from an internal employee of Huawei that on April 20th, "Huawei’s flagship store will have a huge new partner", and the video released at the same time clearly revealed the outline of a car with the caption "Huawei’s flagship store welcomes new partners in Shanghai, Shenzhen and Chengdu on April 20th". The reporter noticed that SF5, the smart selection of Celeste Huawei, had appeared in Huawei official website that day, but as of press time, Huawei had not provided the purchase entrance.

　　Regarding cross-border car building, Huawei has repeatedly stated that it will not enter the field of car building. At Huawei’s annual report meeting in 2020, Hu Houkun, the rotating chairman, reiterated that Huawei’s position in the field of smart cars is that component suppliers have not changed.

　　Industry insiders told reporters that Huawei’s active entry into the auto industry is not unrelated to the current decline in its mobile terminal business. The reporter observed Huawei’s financial report in recent years and found that in 2020, Huawei’s revenue growth slowed down to 3.8%, the lowest in the past decade. Regarding the annual report data, Hu Houkun, Huawei’s rotating chairman, said that the growth rate of consumer business did not meet expectations last year, and admitted that the sales of mobile phones were affected last year due to supply problems. In this case, industry insiders told reporters that the decline of Huawei’s mobile phone sales is not only related to the spin-off of HONOR, but more importantly, the current capacity of Huawei’s mobile phones is restricted by the lack of "core" factors.

　　When Huawei’s intelligent driving department is profitable, Su Qing, chief architect of Huawei ADS and president of intelligent driving product line, said that autonomous driving does not have to worry about profitability. It is reported that Wang Jun, president of Huawei’s smart car solution BU, said that this year’s investment in research and development will reach 1 billion US dollars (about 6.5 billion yuan).

　　However, according to the financial report, Huawei’s cash flow has been reduced. The financial report shows that Huawei’s cash flow from operating activities in 2020 was 35.2 billion yuan, down 61.5% year-on-year. In this regard, Huawei said that this is because it has increased investment in supply, research and development, and material storage.

　　Compared with Xiaomi, which announced to join the ranks of car manufacturers at the end of March, its cash reserve in 2020 is as high as 108 billion yuan. Industry insiders told reporters that if Huawei’s capital is invested in the vehicle manufacturing industry with long manufacturing cycle and high capital occupation, the pressure is obvious. At present, Huawei chooses to lay out the smart driving industry or it is an expedient measure.

　　The A-share automobile index plate rose more than 6%

　　On the same day, the 19th Shanghai International Automobile Industry Exhibition (hereinafter referred to as the 2021 Shanghai Auto Show) opened in 2021, which is also the first A-class auto show held in the world as scheduled this year. At this year’s Shanghai Auto Show, on the one hand, the brands of self-owned brands continue to rise and rise in the process of change; On the other hand, it is a joint venture with foreign capital to increase electric power. Under the entry of new and old forces and technology giants, electric intelligence has risen.

　　Among them, Baidu Apollo Lego car intelligent solution was fully unveiled, and the two products of Zhijia and Zhiyun ushered in a heavy upgrade. Its Zhiyun products can support car companies to quickly build intelligent capabilities, and shorten the autopilot research and development cycle that originally took at least 7 years to complete to 6 months. 100 days after the official announcement, Baidu CEO Li Yanhong and Geely CEO Li Shufu got together. According to people familiar with the matter, the meeting between the two was not at the Shanghai Auto Show, and Jidu Automobile will announce a big cooperation. In addition, Wuling New Energy’s first convertible Hongguang MINIEV CABRIO made its world debut. Evergrande made its debut with nine models of Hengchi, covering all levels from A to D, as well as a full range of cars, coupes, SUVs, MPVs and crossover vehicles.

　　On April 19, the A-share automobile index plate rose by more than 6%, and many stocks such as Dongfeng Motor, Guangzhou Automobile Group and Changan Automobile had daily limit. In the Hong Kong stock market, as of the close, Wuling Automobile rose by 27.53%, with an intraday increase of over 30%; Geely Automobile rose by 4.82%; BYD shares rose by 4.77%, and Beijing Auto rose by 4.14%.

　　The reporter also noticed that the automobile industry chain has strengthened its linkage, including unmanned driving, complete vehicles, automotive electronics, auto parts, lithium batteries and other branches, among which unmanned driving concept stocks and automotive electronics concept stocks have set off daily limit tides respectively.

　　New forces should get through the capital barrier, capacity barrier and market barrier as soon as possible to build a car.

　　The reporter observed that at the end of March and the beginning of April, China’s "new forces to build cars" continued to move: on March 30, Xiaomi, who built cars across the border, announced that "the initial investment will be 10 billion yuan, and the investment in the next 10 years will reach 10 billion US dollars"; On April 7, the 100,000th production car of Weilai was mass-produced at Jianghuai Weilai Hefei Advanced Manufacturing Base. On April 8th, the Management Committee of Wuhan Economic and Technological Development Zone and Xpeng Motors officially signed the investment agreement of intelligent networked automobile manufacturing base and R&D center project & HELIP; …

　　The "14th Five-Year Plan" clearly states that it will focus on strategic emerging industries such as new energy vehicles and organize the implementation of future industrial incubation and acceleration plans in industries such as hydrogen energy. The market believes that this is a strong support for the development of new energy automobile industry. Moreover, the goal of peak carbon dioxide emissions and carbon neutrality has become a national strategic goal, which has also injected a strong impetus into vigorously promoting the development of the new energy vehicle market.

　　Not only that, in terms of smart cars, the "14th Five-Year Plan" is also clear, and the Internet of Vehicles is actively and steadily developed. The three departments issued the "Recommended Guide for the National Internet of Vehicles Industry Standard System (Intelligent Transportation Related)", and the system construction and development related to the Internet of Vehicles continued to accelerate. The reporter observed that the cooperation between car companies and high-tech enterprises is also accelerating. For example, Huawei cooperated with Arctic Fox, a new energy brand of BAIC, to launch an intelligent luxury pure electric car, Beiqi Alfa S, and Evergrande established a joint venture with Tencent. In this regard, Bohai Securities released a research report that optimistic about the trend of automotive intelligent networking, smart cars are expected to have "explosive" production models this year.

　　Zhong Shi, an auto industry analyst, believes that now Chinese and foreign auto companies have clearly seen the general trend of industry transformation and entered the new energy auto industry, which will bring new survival challenges to the "new forces to build cars", and they must pass the capital barrier, capacity barrier and market barrier as soon as possible. He also said that in the end, the growth of China’s new energy automobile industry depends on the comprehensive competition of automobile enterprises in terms of advanced technology, cost control, perfect supply chain, excellent quality, safety and reliability. "Objectively speaking, ‘ The new force of making cars ’ The technical challenges are still enormous, and domestic car companies in China need to redouble their efforts to seize the opportunities brought about by this industry transformation. "

　　Fu Yuwu, honorary chairman of China Automotive Engineering Society, also stressed in an interview that "new car companies should respect the objective laws of technological development, and at the same time exert their efforts on the new track of intelligence and electrification, they should also maintain their awe of the automobile industry".

　　It is estimated that the sales volume of new energy vehicles will increase rapidly in 2021.

　　Faced with the overweight of joint venture car companies and the expansion of production capacity of China’s own brand car companies, is there an oversupply of new energy vehicles? On the production side, in the first quarter of 2021, the added value of the automobile manufacturing industry increased by more than 50% year-on-year; According to the data of China Association of Automobile Manufacturers, in the first quarter, the output of new energy vehicles in China was 533,000, and the sales volume was 515,000, up 3.2 times and 2.8 times respectively. For the future market, some car companies told reporters that they are currently expanding their factories to increase production capacity. Among them, GAC Ai’ an is expected to invest about 500 million yuan, and plans to double production capacity in early 2022.

　　On the sales side, in the first quarter of this year, the retail volume of narrow passenger cars totaled 5.092 million, up 68.8% year-on-year, and the growth rate reached a record high. For the substantial increase in the retail volume of passenger cars in the first quarter of this year, the Federation explained that in addition to the low sales base in the same period last year, there is also a major driving factor that the contribution of new energy vehicles is increasing. According to the data of the Federation, in the first quarter, the retail volume of new energy vehicles was 437,000, a year-on-year increase of 302.9%. In the first quarter, the retail penetration rate of domestic new energy vehicles was 8.6%, which was significantly higher than the 5.8% in the same period last year. Among them, the penetration rate of new energy vehicles in independent brands in March was 20.5%.

　　Some industry analysts believe that production capacity does not mean actual supply. In the face of changes in fuel vehicles and new energy vehicles in the market, in addition to adjusting the product structure, auto companies will re-target the marketization goal of new energy vehicles according to their own advantages, and create marketing methods for electric vehicles, which will affect the sales strategy and consumers are expected to benefit.

　　Huaxi Securities believes that with the continuous improvement of the sales structure and quality of new energy vehicles and the continuous introduction of high-quality new models such as ModelY series, supply will drive demand changes, and the penetration rate of new energy vehicles is expected to accelerate. It is expected that sales will increase rapidly in 2021.

China mutual gold which strong? We will think of Ant Financial, JD Finance, lufax, WeChat Payment, etc. If we take the city as the dimension, we can easily think of the cities where these giants are located: Beijing, Shanghai, Shenzhen, Hangzhou … all seem to be important towns for mutual gold. Which of these cities has stronger mutual gold strength? What are the characteristics of each city’s mutual gold industry?

　

There are many indicators to evaluate the development level of a city’s internet finance, such as the number of mutual fund enterprises, the scale of mutual fund assets, the scale of transactions, financial infrastructure, the number of mutual fund enterprises with unicorn valuation, and the strength of policy support. For the sake of simplicity, this paper observes the mutual gold development degree of major cities from the most intuitive angle, that is, from the index of the number and development level of mutual gold enterprises in the region. Large-scale enterprises will have layouts in big cities such as Beijing, Shanghai, Shenzhen and Hangzhou. This article is based on the location of the headquarters.

　

Beijing: a well-deserved domestic capital of mutual gold

　

In the field of domestic mutual gold, Shanghai, Hangzhou, Shenzhen and other places can be called important cities of mutual gold, but when it comes to the first city of mutual gold industry, Beijing is still doing its part. In Beijing’s mutual gold industry, there are mutual gold businesses owned by Internet giants such as Jingdong Finance and Baidu Finance, as well as large-scale mutual gold companies such as CreditEase, Renren Loan, Lacarra and Rong360, as well as mutual gold businesses owned by state-owned financial institutions such as workers, peasants and China Construction.

　

To sum up, Beijing’s mutual gold industry has several characteristics:

　

First, the format is complete., whether it is payment, wealth management, peer-to-peer lending, financial search, crowdfunding, financial technology and other relatively large formats, or consumer finance, supply chain finance, smart investment, product crowdfunding, equity crowdfunding and other more subdivided areas, Beijing’s mutual gold enterprises have a layout. Mutual gold formats that exist in other cities can basically find the target enterprises in Beijing;

　

Second, there are many mutual gold enterprises.. From the perspective of large Internet companies that carry out Internet finance business, Beijing has the largest number, such as JD.COM, Baidu, Xiaomi, 360, 58, LeTV, Sohu, Sina, etc.

　

In the online lending industry, the data of online lending house shows that by the end of October 2016, the top five provinces with normal online lending platforms were Guangdong, Beijing, Zhejiang, Shandong and Shanghai, with 394, 295, 268, 210 and 205 respectively. In terms of provinces, Beijing is second only to Guangdong, and in terms of cities, Beijing has the largest number.

　

In the third-party payment industry, there are nearly 270 companies that have obtained payment licenses. From the perspective of the provincial distribution of licensed companies, the highest number is Beijing, and 57 companies have obtained licenses.

　

Third, there are many enterprises in the forefront of the industry.. Among the TOP100 platforms of online loan volume launched by Online Loan House in September 2016, there are 33 platforms in Beijing, ranking first among cities. IResearch’s Q2 2016 third-party payment transaction scale ranking shows that among the TOP10 enterprises (Alipay, Tenpay, Bank Merchants, Quick Money, Zhongjin Payment, Remittance to the World, yeepay, Jingdong Payment, Yifubao and Baofu.), Beijing enterprises accounted for 3.

　

From the mutual gold business of large companies, JD Finance has scale advantages in wealth management, supply chain financing, consumer finance and other fields. Baidu Finance has certain advantages in financial technology and has demonstrated its strength in consumer finance fields such as education staging.

　

Fourth, the shortcoming is that Beijing is the domestic Internet center and a big city of mutual gold, but the largest Internet companies and mutual gold companies in China are not in Beijing.. Beijing’s Internet industry and mutual gold industry are superior to enough enterprises, and entrepreneurial enterprises are active enough.

　

It is not surprising that Beijing is the domestic leader in the field of mutual gold. First of all, Beijing is a place where domestic Internet companies gather, and entrepreneurial activities are in full swing. It is normal for large enterprises to have a large number of mutual gold businesses and mutual gold startups. Secondly, Beijing is also a place where financial institutions gather, and has a good industrial foundation in terms of asset-capital docking and talent flow.

　

Hangzhou: a new force of mutual gold in the rise

　

Compared with Hangzhou, Beijing has strong comprehensive strength, but the industry leader is not there; Hangzhou, on the other hand, is the leader in the domestic mutual gold field. Compared with Beijing, its comprehensive strength is insufficient, but it is rising rapidly.

　

Compared with the first-tier cities such as Beijing, Shanghai and Shenzhen, Hangzhou is currently a quasi-first-tier city, but there is not much gap between the Internet industry and the mutual gold industry in Hangzhou. There is a giant ant financial service in the domestic mutual gold field, which makes it impossible to ignore the existence of Hangzhou’s mutual gold territory in China. In fact, in addition to Ant Financial, Hangzhou also has rising Netease Finance, 51 credit cards and other enterprises, as well as online lending institutions with large transactions such as micro-loan network and Xinhehui.

　

Needless to say, Ant Financial is already the leader in the domestic mutual gold field, with a valuation of 75 billion US dollars. It has gradually formed business segments such as payment, wealth management, financing, comprehensive finance and financial infrastructure, and is one of the few Internet finance companies in China that have advantages in both assets and funds, as well as technical advantages. (However, it is worth noting that Ant Financial has moved Alipay’s registered place to Shanghai. )

　

Compared with Beijing, although Hangzhou has a leader in domestic mutual gold industry, the number of mutual gold companies that reach a large volume is less than that of Beijing. However, at present, the mutual gold industry in Hangzhou is developing rapidly and has the potential to become a new benchmark for mutual gold.

　

51 Credit Card, which has been established for four years, is currently valued at more than US$ 1 billion, and has received a total investment of US$ 394 million in the last two months. Judging from the financing amount and the latest valuation, it can be regarded as a mutual gold benchmark enterprise in Hangzhou except ants. At present, the monthly revenue of 51 credit cards has exceeded 100 million. It is estimated that this year’s revenue will exceed 1 billion yuan and the net profit will be 200-300 million yuan. Many large companies, including lufax and JD Finance, are still losing money. It is rare that the revenue of 51 credit cards can continue to grow and keep its net profit positive, which is closely related to its earliest entry into the credit card management field and its accumulated over 70 million cardholders with strong credit demand in four years.

　

In addition, Netease established the financial business department in Hangzhou in May 2015, and has now formed business segments such as Netease Payment, Netease Wealth Management and Netease Small Loan. The data shows that Netease Finance has 100 million registered users, including 30 million real-name accounts. In 2015, the transaction volume of various types exceeded 50 billion yuan.

　

In addition to these three pioneers, the rankings of Online Loan Home and Zero One Finance show that the monthly transaction volume of online loan companies such as Micro-loan Network and Xinhehui are among the top 10 in the industry.

　

It can be found that the development momentum of mutual gold in Hangzhou is relatively rapid. This city not only has ant financial services, but also has a wave of entrepreneurial enterprises growing rapidly, and Hangzhou has become a new rising force in the field of mutual gold.

　

Shanghai: a battleground for mutual gold enterprises.

　

Shanghai is a domestic financial center and a relatively developed field of internet economy, and mutual financial development has a good foundation. The competition between Beijing and Shanghai is an eternal topic. Compared with Beijing, Shanghai’s mutual gold strength cannot be underestimated. To sum up, Shanghai Internet finance has the following characteristics:

　

First, there are a large number of mutual fund enterprises, and the number of online loan enterprises and third-party payment enterprises is second only to Beijing at the city level, and the gap is not big.. At present, 54 enterprises in Shanghai have obtained third-party payment licenses, second only to 57 enterprises in Beijing. There are 205 online lending platforms operating normally in Shanghai, second only to 295 in Beijing from the perspective of cities. In addition, even if the mutual fund enterprises headquartered in other places have a certain scale, they will generally establish branches in Shanghai.

　

Second, some of Shanghai’s well-known mutual gold platforms are set up in Shanghai by enterprises from other regions.Li, such as lufax, Zhongan Insurance, Wanda Internet Finance, etc., also includes Xiaomi’s recently established rice financing service in Shanghai. In addition, companies including Baidu, SouFun and Vipshop have also set up small loan companies in Shanghai. This shows that Shanghai, as a financial center, has great attraction to financial business. Shanghai is a battleground for mutual gold enterprises to compete.

　

Third, compared with Beijing, Shanghai has certain advantages in the field of payment., including UnionPay Business, Quick Money, Remittance to the World, Fu You Payment, Tonglian Payment, Baofu, Shengfutong, Huanxun Payment, etc., are all payment enterprises with large transaction scale in China.

　

Fourth, the top companies in Shanghai’s domestic mutual gold industry are lufax, Zhongan Insurance and Oriental Fortune, followed by Wanda Internet Finance, Paipai Loan and Dianrong.com..

　

Lufax’s current valuation has reached US$ 18.5 billion, and it has launched a listing plan in Hong Kong. The number of its users and transaction volume are dominant in the domestic online lending and wealth management fields. China Ping An’s Q3 2016 quarterly report shows that as of September 30, 2016, the cumulative number of registered users of lufax Platform was 25.5 million, and the number of active investment users was 6.55 million. In the first three quarters of 2016, the retail transaction volume was 1,077.220 billion yuan, and the institutional transaction volume was 3,220.583 billion yuan.

　

The valuation of Zhongan Insurance once reached US$ 8 billion. As of May 31, 2016, Zhongan Insurance had served more than 414 million customers and the number of policies exceeded 4.583 billion. Recently, Zhongan Insurance established a new company, Zhongan Technology, focusing on inclusive finance and health care, and exporting technical capabilities to the outside world.

　

Fifth, some mutual gold formats developed earlier in Shanghai.For example, Kuaiqian was established in 2004, Paipai Loan was established in 2007, and Tiantian Fund Network, a subsidiary of Oriental Fortune, was established in 2008. It is an early platform for payment, online lending and online fund sales in China. This shows that Shanghai has always been in a leading position in the exploration of new financial formats.

　

Generally speaking, as a financial center and an important Internet town, Shanghai also has a good development soil for Internet finance, and the current mutual gold ecology is relatively sound. Like Beijing, Shanghai is a battleground for every mutual gold enterprise, but it is slightly inferior to Beijing in terms of the number of mutual gold enterprises and the number of well-known start-ups at present.

　

Shenzhen: A Hot Land of Mutual Gold Led by Tencent and Ping An Group

　

Shenzhen is also a place where financial institutions gather, and the atmosphere of Internet entrepreneurship is also very strong, laying the foundation for the development of mutual funds. Internet giant Tencent and Ping An Group, which have full financial licenses, have developed good mutual gold business. In addition, online lending institutions with large transactions such as Hongling Venture Capital and Mavericks Online have emerged in Shenzhen.

　

In terms of the total amount, the data of Shenzhen Financial Office shows that by the end of June 2015, there were more than 1,200 Internet finance enterprises in Shenzhen. According to incomplete statistics, the scale of Internet third-party payment transactions in Shenzhen exceeded 3 trillion yuan, accounting for nearly half of the country. Equity crowdfunding and Internet wealth management rank among the top three in China.

　

When it comes to mutual gold giants in Shenzhen, the first thing that comes to mind is Tencent and Ping An, which have made great efforts in the field of mutual gold.

　

Tencent’s financial business scale is among the highest in the industry. At present, Tencent Tenpay is second only to Alipay in the field of third-party payment. Weizhong Bank has been online for one year. Relying on two super portals, WeChat and QQ, and using big data risk control technology, it has issued loans exceeding 40 billion yuan. In terms of financial management, as of the end of April 2016, the number of general-purpose users of Tencent’s financial management has exceeded 50 million, and the scale of funds has exceeded 100 billion.

　

In addition to lufax, China Ping An also has mutual gold business such as Ping An Pratt & Whitney Finance, One Wallet and Ping An One Account. According to the third quarterly report, as of September 2016, the amount of new loans in inclusive finance was 111.901 billion yuan; The transaction scale of one wallet payment and points business reached 2,005.718 billion yuan, with a total of 64,987,000 registered users and an average monthly active user of 6,206,900. The user scale of the one-account platform is nearly 157 million, and the monthly active users exceed 22.2 million.

　

In addition to Tencent and Ping An, there are many online lending institutions with the largest transaction scale in Shenzhen, including Hongling Venture Capital and Mavericks Online. This shows that the mutual gold industry in Shenzhen also has a high status in the country.

　

　Major mutual gold enterprises in Beijing, Shanghai, Shenzhen and Hangzhou

Generally speaking, at present, Beijing is in a relatively leading position in the field of mutual gold, but the gap with other cities is not large, and there is also the possibility of being overtaken; The scale of mutual gold between Shanghai and Shenzhen also has a relatively large volume, with large enterprises in bring up the rear; There are mutual gold leaders in Hangzhou, and there are also entrepreneurial enterprises that are constantly emerging and their strength is constantly increasing. In addition, Guangzhou (There are enterprises or businesses such as WeChat Pay, Evergrande Financial Services, Vipshop Finance and PPmoney.), Nanjing (There are Suning Finance, Kaixin Loan and other enterprises.) and other places also have a certain scale of mutual gold industry. The future mutual gold competition will still be fierce.

　

How to interpret the competitive market of urban mutual gold industry in the future?

　

Summarizing the mutual development paths of cities, we can find that the development level is highly related to the following factors:

　

The development level of internet industry.Basically, the urban distribution pattern of mutual gold follows the development pattern of the Internet industry, with Beijing being the largest, followed by Shanghai, Shenzhen and Hangzhou. The high level of Internet development means that there are many Internet giants in this city, and they have first-Mover advantages such as traffic and scenes. It also means that the internet entrepreneurial atmosphere in this city is relatively strong. As the main field of current entrepreneurship, mutual gold projects will continue to emerge to ensure the quantity and quality of the mutual gold industry in this city.

　

Level of financial development.Beijing, Shanghai and Shenzhen are the top three in the development of domestic financial industry, and Hangzhou is located in Zhejiang, where the economy is developed and private finance is prosperous, and the financial industry has a good foundation. Having a developed traditional financial industry means that Mujin has a lot of offline assets that are easy to dock, and it is easier to introduce financial talents, which will help Mujin’s development.

　

Policy support. Compared with the above two factors, the influence of policies on the overall mutual development level of a region is not decisive, but it cannot be ignored. In particular, if a city prohibits the development of a mutual gold format, the impact will definitely be immediate. If the policy is biased towards promoting the development of the industry, it will be a more important auxiliary factor, such as preferential policies may attract some enterprises to settle down, but relatively speaking, the level of Internet and financial development is a more influential factor. The influence of these three factors is relatively intuitive. If we dig deeper, it may be that the level of rule of law, urban governance and development details of a city are at work.

　

As far as the competition among the four major cities is concerned, Beijing’s advantages of big companies and entrepreneurial ecology ensure that its position as a mutual gold leader will continue. It is possible for Shanghai, Shenzhen and Hangzhou to challenge Beijing’s position, but it is not difficult. It is necessary to make more efforts in Internet entrepreneurial environment, financial ecology and policy support.

　　"Huawei terminals have reached the most difficult moment."

　　Two weeks ago, Yu Chengdong, CEO of Huawei’s consumer business, revealed to the outside world the dilemma that Huawei is about to face — — Five days later, the US "sanctions" came into effect. Huawei’s "broken plane" was officially "cut off".

　　As of today (September 26), Huawei has been "cut off" for more than ten days. What is the current situation of Huawei, and how will they break through in the face of the expanding blockade? Is it Huawei’s darkest hour, or is it the darkness before dawn?

　　Huawei employees: It is assumed every day that the supply will be cut off tomorrow.

　　"September 15th is an ordinary Tuesday for us."

　　Jingzi (pseudonym as requested by the interviewer) has been working in Huawei for 2 years. When she first joined the company, it was when Huawei was put at the forefront by the United States. In 2018, the United States opened the so-called "sanctions" against Huawei. In May last year, the United States listed Huawei in the "entity list"; In May this year, the control was further upgraded. After a 120-day buffer period, the "ban" came into effect on September 15.

　　"As early as two years ago, the company has established an idea from top to bottom — — Sanctions ‘ Tomorrow ’ Will start. " Although more than 800 days have passed since tomorrow, it seems that all this has become "accustomed" to Huawei employees.

　　Jing Zi told the reporter of Dongfang.com that when the United States officially waved a big stick at Huawei, his department had asked employees to "give up their illusions" — — Even if there is an "exemption period", it seems that Huawei has adjusted its working status to the rhythm of "no supply".

　　"Although the business is likely to face difficulties, the company’s salary and benefits for employees are increasing instead of decreasing. The rumors about layoffs in domestic business are basically rumors. " Shizuko told reporters that after working in Huawei for two years, his salary level has been about twice that of other companies. "Of course, at the same time, the work intensity is also the top level in the industry." Shizuko quipped.

　　Supplier: After the supply was cut off, some people were speculating on Huawei mobile phones.

　　6388 yuan, this is the price of a second-hand Huawei Mate 30 pro 5G mobile phone on an e-commerce platform after Huawei was "cut off". However, when Dongfang. com and Zongxiang News visited Huawei offline recently, they found that the price of this Huawei flagship machine, which was released a year ago and equipped with Kirin 990 chip, was as low as 5,399 yuan, and most of it was well supplied.

　　Why is a second-hand mobile phone sold a year ago more expensive than a brand-new mobile phone? Liqun Huang, a Huawei distributor, seems to be "not surprised" by this. "Since the US sanctions, there have been many people speculating on Huawei mobile phones."

　　"Due to the second round of sanctions, the chip can’t be produced, which is very difficult. At present, it is out of stock. This may be the last generation of Kirin’s high-end chips. " In August this year, before the ban came into effect, Yu Chengdong tragically announced to the outside world that Kirin was "out of print".

　　On September 15th, after Huawei was officially "cut off", Kirin Chip also began to go out of print. A seller of a second-hand platform once said that the "collection significance" of Huawei Mate30 pro is far greater than the use significance when selling Huawei mobile phones to Dongfang.com and Zongxiang journalists. There are even sellers who say that buying Huawei mobile phones now is "patriotism".

　　In this regard, Liqun Huang said that the interruption of supply does not mean the suspension of production, and the out-of-print Kirin chip does not mean the out-of-print Huawei mobile phone. "It is not reliable to buy second-hand mobile phones for collection." According to several responsible persons of Huawei authorized experience stores, the old Huawei mobile phones, including Huawei Mate30 pro, are in sufficient supply, and there will be no "one machine is hard to find" in a short time.

　　At the same time, Liqun Huang told the reporter of Dongfang. com that after the "supply cut-off", Huawei’s mobile phones really became more scarce than before, but this did not affect the current sales of Huawei’s mobile phones. Liqun Huang also said, "We can’t be sure about Huawei’s future, but we can conclude that Huawei will ‘ Cool ’ It seems too early to say. "

　　Forced by the United States to "cut off the supply"? Huawei suppliers are pleading.

　　On August 17, the US Department of Commerce further tightened the restrictions on Huawei’s access to American technology, and listed 38 subsidiaries of Huawei in 21 countries around the world in the "entity list". This is seen as a comprehensive "encirclement and suppression" of Huawei — — It means that from the whole production to the purchase of parts, even the road of "saving the country by curve" has been blocked by the United States.

　　On the eve of the supply cut-off, Huawei chip suppliers who have been on the sidelines have also made statements. TSMC said that the company has no plans to continue supplying Huawei after September 14th. Subsequently, Micron Technology, Samsung and SK Hynix all indicated that they would not be able to ship to Huawei after September 14th.

　　Earlier, Guo Ping, Huawei’s rotating chairman, once shouted to global chip companies that "helping Huawei is helping yourself". Many companies seem to know their way well. Before and after the supply cut-off, some Huawei suppliers still hoped that the U.S. government would be lenient, and at the same time, they were striving to continue to supply Huawei.

　　In terms of OEM, TSMC said that while the company cancelled the supply to Huawei, it was actively applying for and submitting the supply license to the US government. According to the news, TSMC’s previous application was not allowed by the United States. However, TSMC still pointed out that it will continue to try to supply Huawei. The data shows that Huawei is TSMC’s second largest customer, and its revenue contribution is as high as 15%.

　　As for the chip manufacturer, the designer MediaTek has confirmed that at the end of August this year, the company has applied to the US for continued supply of Huawei in accordance with regulations, and the memory chip manufacturer Micron also applied at the same time. In addition, including chip manufacturers Qualcomm, Samsung and SK Hynix, which had previously made it clear that they would not be able to supply Huawei, all made it clear that they had applied for export licenses and sought to continue to supply Huawei.

　　It is worth mentioning that during the supply suspension period, many Huawei suppliers have obtained supply licenses.

　　On Monday (21st), Intel officially said that it had obtained permission to continue supplying Huawei, and Intel is the main supplier of Huawei notebooks. On the 19th, AMD, an American chip company, also said that it had obtained permission to sell its products to some companies in the US "entity list". It is widely believed that "some companies" are Huawei.

　　In fact, many American companies also understand the truth that "you hurt the enemy by one thousand, and you will lose yourself by eight hundred". In June this year, Semiconductor Association of America shouted to the US government that the Trump administration’s ban would not only affect Huawei, but also bring huge restrictions to American companies and even global chip companies. Many chip manufacturers, including Qualcomm, have repeatedly called on the US government to lift the so-called "sanctions".

　　Reflection after ten days of supply suspension: China Core, where to go?

　　"Huawei has been developing in the field of chip design for more than ten years. From being seriously backward, to being a little backward, to catching up, to leading, the R&D investment is huge and the process is very difficult. However, in the field of heavy assets such as chip manufacturing, Huawei did not participate. After September 15, the flagship chip could not be produced, which was a great loss for us. "

　　Of course, as emphasized by Huawei, China enterprises, especially China chip enterprises, can’t pin their hopes on the United States to relax sanctions. "Self-improvement" may be the most effective and only way to achieve real results.

　　In recent years, China has been the largest chip importer in the world. The data shows that in 2018 and 2019, the total value of imported integrated circuits in China exceeded 300 billion US dollars.

　　However, while importing, China’s chip self-sufficiency is not enough. The data shows that in 2019, China’s chip self-sufficiency rate is only about 30%. According to the development plan of relevant departments, in 2025, China is expected to raise its chip self-sufficiency rate to 70%, which is almost the average level of chip power countries such as the United States.

　　In that case, where did China chip get stuck in the neck by the United States? As a huge and complex industry, the chip industry has a long industrial chain. It can be divided into four parts: design, manufacturing, packaging and testing. Except in the field of design, Huawei Hisilicon has a certain breakthrough ability, and in the other three links, especially in the manufacturing link, the ability of domestic manufacturers still has great room for improvement.

　　"No one can extinguish the starlight in the sky." At the Huawei Developers Conference in 2020 held before the supply was cut off, Huawei conveyed its determination and will to work hard to the outside world.

　　In the first half of the extreme pressure in the United States, Huawei still achieved the first global market share of smartphones, the first global market share of wearable devices and the second global market share of smart watches. Notebooks have achieved more than 100% growth, and products such as headphones have achieved more than 100% or even 200% high-speed growth.

　　As Ren Zhengfei, the founder of Huawei, said, "We may encounter unimaginable difficulties, but this is also the biggest opportunity period." Unprecedented difficulties may be the best opportunity to hone enterprises.

　　Huawei’s future is still unknown. However, for China enterprises, it seems to be an important proposition for a long time how to make Huawei and others no longer lonely on the stage of global industrial competition through unremitting efforts. In the face of the big stick sanctions from the United States and the future of the chip industry, I am afraid that it is far more than Huawei itself.

　　Live broadcast with goods has sprung up and become a major shopping channel for consumers. However, the anchor is crazy "fudge", the marketing "routines" are diverse, and even problems such as counterfeit goods rampant and difficult refund have become problems. "Double 12" is approaching, and the judges of Haidian Court combined with typical cases to broadcast live shopping to avoid pits and defend rights for consumers.

　　case

　　The gold necklace became a "golden thread"

　　"Three gold necklaces, ready, welfare 1000 single, 18-inch chain, original price 13 thousand, anywhere 13 thousand, limited to one single per person" "Today, not in 9999, not in 6999, not in 3999, get on the bus in 1999! Come to the bottom! " … …

　　In the live broadcast room of a jewelry store, the anchor’s "words" attracted many onlookers, including Ms. Wang. The anchor with the goods is showing a gold necklace and claiming that it is the "bargain-hunting" price for the whole year. On the spur of the moment, Ms. Wang felt that the price was over-valued. She immediately clicked the "spike" button and paid the full amount at 9 o’clock that night.

　　Soon, Ms. Wang received a gold necklace with the label of "all-gold phoenix tail chain". When she opened the package, she was blindsided — — This is not a gold necklace. The chain is as thin as silk thread. The inspection certificate of precious metal products is attached to the package, indicating: main gold (Au), pure gold, with a total mass of 2.48g.

　　Ms. Wang suddenly felt cheated. "I really didn’t ask about the weight of the necklace before I bought it, because the anchor always emphasized ‘ There are not many goods ’ I am afraid that I can’t buy it before I quickly place an order. " Ms. Wang said that she estimated the weight of the necklace before deciding to buy it according to the anchor’s statement of "original price of 13 thousand" and the average market price of gold ornaments.

　　Ms. Wang believes that the weight of the gold necklace received is only 2.48g g. Obviously, the jewelry store and the anchor falsely reported the original price, which constituted fraud to consumers.

　　Ms. Wang sued for a refund and triple compensation. The court decision supported her claim.

　　Judge’s statement

　　The anchor is responsible for "opening his mouth"

　　Different from shopping on e-commerce platform, a major feature of live broadcast with goods is the "marketing skill" of the anchor, which some people call "network shouting". The value, price and quality of goods are all introduced by the anchor’s mouth. In most cases, the goods described by the anchor are provided by merchants such as sellers.

　　In the above-mentioned case, the court found that the anchor of the jewelry store on the live broadcast platform is the employee of the store, so the legal consequences caused by the anchor’s statement during the live broadcast should be borne by the jewelry store.

　　The judge pointed out that the biggest controversy in this case lies in the original price of the gold necklace stated by the anchor. According to the definitions of "original price" and "fictitious original price" in the Notice of the National Development and Reform Commission on the Interpretation of the Provisions on Prohibiting Price Fraud, "original price" refers to the lowest transaction price with trading bills that the operator has made in this trading place within seven days before this promotion; If there is no transaction within the first seven days, the last transaction price before this promotion is the original price; "Fictitious original price" means that the original price marked by the operator in the promotion activities is false and fabricated, and it does not exist or has never had a transaction record.

　　During the trial, the jewelry store did not submit evidence to prove that the gold necklace involved in the case had the "original price" in its online store, so it had to bear the adverse consequences of failing to provide evidence, and the court therefore decided that the "original price of 13,000" was not true and constituted fraud.

　　At the same time, the judge pointed out that if the false delivery of goods or services related to consumers’ life and health causes damage to consumers, if the anchor is an independent individual, not an employee of the merchant, such as the merchant inviting stars to bring goods, celebrities to bring goods, etc., then the spokesperson should be responsible for the legal consequences caused by the contents of his display and oral statement during the live broadcast. If there is a problem with the goods, consumers can sue the merchants and anchors for rights protection, and the merchants and anchors bear joint and several liability.

　　case

　　The trial found that the phone was not good and the return was rejected.

　　Xiao Li is a college student. He wants to buy a mobile phone with good camera function and smooth mobile games with a low budget. After browsing several mobile phone e-commerce, he is always hesitant. One day, when he watched a live broadcast of an anchor, the anchor was promoting a certain brand of mobile phone. The price, performance and appearance all met Xiao Li’s expectations, so he placed an order to buy it.

　　After receiving the mobile phone, Xiao Li tried it for two days. It didn’t feel as good as the anchor said, so she wanted to return it and buy other brands of mobile phones. However, when negotiating with the merchant to return the goods, Xiao Li was rejected on the grounds that there was a prompt on the website that the goods that had been activated or depreciated in a large amount were not applicable for 7 days and there was no reason to return them.

　　Repeated returns failed, and Xiao Li filed a lawsuit.

　　Judge’s statement

　　7 days no reason to return regardless of platform.

　　According to the judge, the Consumer Protection Law provides for goods that are not returned without reason. In short, two conditions must be met at the same time before unreasonable return is not applicable: First, once activated or tried out, the value is derogatory; Second, online commodity sellers have set up significant confirmation procedures in the necessary process of commodity sales for consumers to confirm the single purchase behavior.

　　However, in reality, merchants often use the platform particularity and commodity particularity as an excuse to ask consumers to click on the purchase when selling goods, that is, "confirm that it is not applicable and return goods without reason". The judge said that this is contrary to the legal provisions and is generally regarded as the "overlord clause". Merchants use this as an excuse to reply and the court will not accept it.

　　The court held through trial that there was a legal relationship between Xiao Li and the live broadcast merchants. As a consumer, Xiao Li’s unreasonable return request within 7 days after shopping met the conditions stipulated by law. In addition, the merchant did not prove that the mobile phone depreciated greatly after activation. Therefore, the court supported Xiao Li’s claim for a refund.

　　case

　　Credulous "online celebrity" acne becomes disfigured

　　Exaggeration, false propaganda, traffic fraud, selling toxic and harmful food … … In recent years, the rollover of "online celebrity" has become the "hardest hit" for live broadcast.

　　The judge pointed out that many "online celebrity" rely on their own traffic, become the darling of businesses, and even "stand on their own feet", but the quality of the goods they sell frequently appears problems. Liu, a well-known online celebrity model, attracted countless fans in the live broadcast room with her beautiful style. Relying on the huge energy of "online celebrity effect", Liu bought a stirring kettle, a pulverizer and other equipment, and made and sold the acne-removing and whitening universal cream by himself using Baiyanjing and chloramphenicol as raw materials. After many fans bought and used it, their faces were damaged to varying degrees. The victim reported to the public security organ, involving nearly 300,000 yuan. The public security organ immediately arrested Liu. After the court concluded the criminal case, the victim filed a civil lawsuit with the court, demanding that Liu refund the purchase price and pay ten times the compensation.

　　In the end, Liu was sentenced to one year and eight months in prison, suspended for three years and fined 150,000 yuan. In civil litigation, the court also supported the consumer’s claim.

　　In another case, Zhao Dan (stage name: fat ya), an actor of a media company, publicized and sold a self-made "pure Chinese medicine slimming capsule" through a live broadcast platform without obtaining a license for drug production and sales, which made huge profits and caused many users to have adverse reactions. The court sentenced Zhao Dan to 3 years’ imprisonment and fined 500,000 yuan for the crime of producing and selling counterfeit drugs.

　　Judge’s statement

　　Be careful with fake goods, criminal and civil responsibilities

　　“‘ Online celebrity ’ It’s not easy to become famous, so we should cherish our feathers. After gaining huge traffic, we should attach importance to our personal image and focus on spreading positive energy. The so-called ‘ A gentleman loves money and takes it wisely ’ 。” The judge said that in recent years, the fake bird’s nest incident of well-known anchors, the "fake sweater incident" of Luo’s goods, and some well-known TV hosts have also been exposed for fraud … … These behaviors of the anchor not only harm the rights and interests of consumers, but also wander on the edge of illegal crimes.

　　If there are serious quality problems in the goods, according to the provisions of the Criminal Law, producers and sellers adulterate the products, pass the fake products off as genuine ones, pass the substandard products off as qualified products, and the sales amount reaches more than 50,000 yuan, which constitutes the crime of producing and selling fake and inferior products. Whoever produces or sells fake and inferior products may be sentenced to life imprisonment at the highest. In product liability, criminal punishment does not exempt civil compensation, and consumers can still ask sellers or producers to refund the payment and make compensation.

　　"The anchor should take honesty as the foundation and play the law ‘ Edge ball ’ No! " The judge stressed.

　　Pit avoidance guide

　　Remember three tricks for live shopping

　　In view of the current chaos of live broadcast, the judge gave three suggestions:

　　 When consumers choose live shopping with goods, they should try to choose those platforms and sellers with large scale and high credibility.

　　 Before buying, you can know the brand, origin, performance and price of the product through physical stores and e-commerce platforms, and don’t be fooled by the anchor’s mouth. We must consume rationally. "The lowest in the whole network", "the lowest in the whole year", "the best in quality" and "never lose money when you buy it" have become the cliché of the live broadcast industry. Consumers should not believe this absolute term. At the same time, consumers should not blindly consume out of their personal love and admiration for the anchor, let alone be confused by the commodity shortage atmosphere deliberately created by the anchor and the platform.

　　 When shopping, you should keep relevant evidence, such as advertising, promises, purchase records, payment vouchers and express delivery numbers, for future rights protection. If negotiation with the merchants fails, consumers should promptly complain to the Consumers Association and other departments or go to court to avoid missing the statute of limitations. At present, China has implemented the "Management Measures for Webcast Marketing (Trial)". Accordingly, when consumers are "chopped up" in the live broadcast room, the main bodies that can be held accountable are the anchor, the operator of the live broadcast room, and the live broadcast platform. If the product quality responsibility is involved, the producer can also claim rights.

　　The judge reminded that the live broadcast of goods is no longer just the commodity marketing of household appliances and daily necessities, but also the live broadcast of goods in financial services such as funds, wealth management and insurance, which is not differentiated on the live broadcast platform, resulting in confusion of the main body of financial live broadcast marketing, or hiding the risk of fraud. The judge suggested that the live broadcast platform should be supervised by classification to help different consumer groups identify products.

　　The platform should consolidate its responsibilities and implement the platform certification mechanism. For example, for the live broadcast rooms and anchors with good consumer evaluation and high authenticity of goods and services, the platform responsibility is materialized and visualized, so that consumers can intuitively choose guaranteed live broadcast rooms for shopping consumption. Make good use of big data to increase the efficiency of consumer risk warning. The platform can dynamically match consumers’ identity information with their consumption behaviors. For example, for minor consumers, once they find abnormal consumption behaviors such as large consumption and inappropriate consumption of alcohol and tobacco minors, they will send prompt information in time to contact their guardians, so as to reduce the situation that guardians can only cancel the large consumption of minors through litigation. Our reporter Gao Jian correspondent Qin Pengbo

　　Virtual anchor "Gan Gan Xian Jun"

　　Recently, the news about virtual anchor has attracted much attention: overseas virtual anchor VOX made its live debut in China, with a revenue of 1.11 million RMB. This makes everyone focus on the virtual anchor industry.

　　What is the development of this industry, when it is really a blue ocean? Will disputes between content creators, guilds and MCN, which are common in the live broadcast industry, occur in the virtual anchor industry? In this regard, Chengdu Business Daily-Red Star journalists contacted relevant practitioners and chatted with them about virtual anchors.

　　It is very important to set up a virtual anchor.

　　Tone affects his popularity.

　　The so-called virtual anchor refers to people who post videos or live broadcasts on video websites with virtual images. Because it originated in Japan, the current active audience area is concentrated in Asia.

　　One weekend in May, in the office of an office building in the west section of Fucheng Avenue, Xiaoxin (a pseudonym) sat in front of two computers and started his live broadcast with a low and magnetic voice into the microphone. On the screen in front of me is a young man with long hair, named "Gan Gan Xian Jun". Xiaoxin is a junior and a serious second-year enthusiast. It happened that he studied broadcast host, and after several rounds of interviews, he finally became a virtual anchor — — Strictly speaking, Xiaoxin is a "man in the middle", and "dry fairy king" is his "condom".

　　People in China and holsters are terms of virtual anchor circle. Compared with real anchors, virtual anchors never appear as real people, but carefully prepare a moving image for themselves, which is called holster. Leather covers are generally divided into full three-dimensional simulated real people, three-dimensional simulated cartoon images and plane cartoon images. The anchor himself, who is responsible for providing the voice, movement and expression for the holster, is called the man in the middle.

　　The first live broadcast of "Gan Gan Xian Jun" was on May 27th. "Be sure to have your own personnel. Like vox, people are particularly touching, so there will be so many fans. " One of the founders of the virtual brand V1 Cube selected Xiaoxin is not the VOX mentioned here, but a virtual anchor who just premiered in bilibili a few days ago. This Englishman from Japan is a member of Rainbow Society, a famous virtual anchor company in Japan. The Englishman is his design: he will communicate and interact with the audience in British English during the live broadcast. Although he spoke English all the time, he paid an astonishing 73.3% for the first night in China. In other words, for every 10 users who entered the live broadcast room, more than 7 spent money on him.

　　According to the data, VOX’s live broadcast lasted for 1.7 hours, and thousands of people charged him with "prefect" (bilibili’s live broadcast room level, prefect is 1998 yuan per month) and "captain" (captain is 198 yuan per month), with revenue of 1.11 million RMB, paying nearly 40,000 people and interacting with more than 50,000 people. At present, his number of fans has reached 991,000.

　　"As we have always emphasized, it is very important to set up a virtual anchor. Vox is very talkative, and his conversation content and style are moderate, and many netizens evaluate him ‘ Gentleman ’ ‘ High emotional intelligence ’ 。” Yang Shiqi, another founder of V1 Cube, told reporters, "Secondly, the sound, whether the timbre is moving or not, has a great influence on the popularity of virtual anchors. When you first contact a virtual anchor, whether the timbre is beautiful or not and whether there is enough recognition is extremely critical. " They chose Xiaoxin precisely because his voice is moving enough.

　　The ability to collect money is extraordinary

　　The income gap between the rich and the poor is huge.

　　The virtual anchor’s extraordinary ability to collect money is really surprising. In China, when it comes to the realization of virtual anchors, bilibili’s 2021 annual report points out that users can buy virtual gifts in the application and give them to their favorite anchors to express their approval and reward. Bilibili will share the sales revenue of virtual goods generated by live broadcast with anchors and guilds, in addition to attractive rewards. The annual report also mentioned, "We plan to sign cooperation agreements with more anchors in the future to attract popular anchors and further expand our live broadcast business." In the value-added services (including big member services) section where bilibili’s live broadcast business is located, the revenue in 2021 was 6.93 billion yuan, accounting for 35.78%, up 80% year-on-year, and the revenue in the fourth quarter was 1.895 billion yuan, up 52% year-on-year.

　　Lu Luoyi, co-founder of Chengdu Aurora Technology, told the reporter, "At present, there are more than 160 virtual anchors cooperating with the company. On the list of the top 100 released by bilibili, there are 3 anchors of TOP 100 and 1 anchor of Top30, and the monthly income range ranges from 300 to 1 million."

　　In Lu Luoyi’s view, the 28 th effect is more obvious in this industry. The reporter learned that in the three months from February to April, 2022, 90 samples of bilibili’s monthly Top30 were taken, and the number of people with monthly revenues ranging from 200,000 to 500,000 was the largest, accounting for 71%; There are 3 people with a monthly income of more than 1 million, accounting for 3.3%. According to incomplete statistics, the top 120 virtual anchors in bilibili severely squeezed the income of other anchors, and the average monthly revenue of the other anchors only accounted for 1% ~ 5% of the top 120 virtual anchors. Polarization is quite serious.

　　According to another set of public data, as of August 18th, 2021, among the 3,472 virtual anchors with relative attention in bilibili, 1,827 people earned money in 0 yuan that month, and more than half of them had no income.

　　According to the data analysis, among the top five anchors in bilibili in April this year, two live broadcasts lasted more than 700 hours, two were around 600 hours, and one was around 500 hours, close to 600 hours. The reporter saw that the first-ranked "Wubi Crescent" had a live broadcast duration of 711.9 hours, but his income was only 6 yuan, and only three people were rewarded; The live broadcast of 581.2 hours "Heron wants to drink ice" earned 61,600 yuan, and the hourly revenue was about 0.01 yuan. In the event of such an exception, there is a high probability that the middleman is not online, just hanging the holster in the live broadcast room, without performance and interaction, naturally no one will pay attention and reward.

　　The reporter learned that the salary composition of Chinese people is similar to that of real anchors, and they are divided into two parts: basic salary and reward. Because this industry has not yet formed a unified standard, enterprises are free to decide to adopt piecework system, hourly wage system or monthly salary system, so the basic salary gap between different enterprises is large. "

　　"The Soul of Virtual Anchor"

　　But can’t get the same treatment.

　　Virtual anchor has won more and more attention with its huge ability to attract gold. On the other hand, some contradictions have gradually become prominent. The focus of controversy is the huge gap between the low income of Chinese people and the high income of holsters.

　　"We are a little different from other companies. We don’t give the Chinese people a basic salary, but we share the income directly, and we will make it very clear when signing the contract. The average income commission of people in the industry is 4.5% of a live broadcast, and ours is 5%. In the early stage of the role, we have to invest a lot of resources, and when we sign an agreement with the trade union, we will also give us some help and support, so that the virtual anchor can quickly realize the benefits. One more thing, we don’t want to give people in China a kind of ‘ Part-time job ’ The feeling is that we will do this together. " The founder of V1 Cube said frankly.

　　Xiaoxin said, "Maybe I’m more Buddhist. In addition, the company gave me a share of running water income, and the follow-up increased step by step, up to 20%. As long as I can keep up, I can actually make more money. " He regards himself as a member of the company and thinks that he is working with the company to create a virtual idol. "Although the audience sees that the virtual idols are very glamorous, the Chinese people have made great efforts in the back, so the contradiction between the company and the Chinese people will really make the Chinese people very chilling."

　　Some insiders told reporters that although enterprises provide all-round support for virtual anchors, this does not mean that Chinese people can enjoy the same treatment as virtual anchors. "Even if fans think that the person in China is ‘ The Soul of Virtual Anchor ’ However, Chinese people have no special status within the enterprise and are even subject to stricter labor control. "

　　It is understood that people in many companies have to bear the expenses incurred in their work. "Rent and transportation expenses account for the bulk. Secondly, find a vocal music teacher to train and buy computer equipment and game cards … … These are all burning money. " Chunye (a pseudonym), the person in China, revealed. "There are usually two kinds of contracts in the industry to create virtual anchors, business brokerage contracts or labor contracts. The common goal of Chinese people and the company is to maximize the content of virtual IP. In this process of character output, fans like not only the holster, but also the emotional connection and deduction of Chinese people. Their roles and identities complement each other. People in China will have different needs at different stages of growth and some plans for their future. In fact, there will be some variables. Regardless of the details of the facts, in fact, these incidents have occurred from time to time in Rainbow Society, so these variables will be considered when signing a contract and creating a virtual IP at the beginning, and several students will be tried (the holster will not be changed, and the Chinese will be rotated). Constantly output high-quality content and continue to let fans pay for the content. " Lu Luoyi bluntly said that it is quite rational for the industry to look at these.

　　Industry pain points need to be solved

　　Otherwise it will be another bubble.

　　In any case, VOX proves that the virtual anchor industry is a blue ocean. Earlier, ANYCOLOR, the parent company of Rainbow Society, said that its listing application submitted to the Tokyo Stock Exchange had been approved and it was scheduled to be officially listed on June 8. According to the prospectus, Rainbow Society has set up five revenue modules, including live broadcast, content sales, performance activities, advertising and others (mainly for overseas businesses, etc.). In the past four fiscal years, Rainbow Society’s revenue and net profit increased rapidly, from the revenue of April 2018 (May 1, 2017-April 30, 2018) to 16.62 million yen and net profit.

　　Will the IPO of Rainbow Society become the vane of virtual idol companies? The reporter learned that since 2019, companies of the same type have sprung up like mushrooms after rain, and all segments have been involved. Bilibili, for example, is making efforts in the virtual anchor sector. At the 12th anniversary of bilibili, CEO Rui Chen mentioned that from June 2020 to June 2021, a total of 32,412 new virtual anchors were launched, up 40% year-on-year, with a total contribution of over 1.89 million, and more than 60% of the world-renowned virtual anchors were launched in bilibili. According to bilibili’s 2021 financial report, value-added services (mainly live broadcast and big membership services) are still the largest source of income in bilibili. Relying on live broadcast and big membership services, bilibili’s value-added service revenue reached 1.89 billion yuan in the fourth quarter, with a high growth rate of 52% year-on-year. The annual revenue from value-added services reached 6.93 billion yuan, up 80% year-on-year. Among them, in the entertainment field, virtual anchor has become the fastest growing category of live broadcast in bilibili.

　　Nowadays, more attention is paid to the resources of head factories. But in the virtual anchor industry, the majority is still small companies. Yang Shiqi said frankly, "Although the growth rate is very fast, the revenue base of virtual live broadcast is very small, which is not prominent in the total revenue of live broadcast business, so the industry scale is quite small." In Lu Luoyi’s view, generally speaking, the subject of live broadcast with high-intensity output and more repetitive content may turn from real people to virtual. "From the perspective of saving labor costs and protecting the health and safety of personnel, the problem of ROI conversion rate can be solved to some extent by using AI and other technical means, and such content can be broadcast repeatedly by virtual people — — Such an iteration may be good. Because of the replacement, there will naturally be some new jobs. "

　　But first of all, we must solve the problems in the short video and live broadcast industries, such as the disputes between content creators, guilds and MCN, which have repeatedly occurred in the virtual anchor industry; Secondly, both the virtual anchor and the virtual idol are produced in the cultural circle with extremely high concentration of two elements, and how to break the circle is also a big problem. In the reporter’s opinion, only by solving these two major pain points can the virtual anchor industry ride the wind and waves. Otherwise, it may be another virtual economy bubble.

　　Chengdu Business Daily-Red Star Journalist Ren Hongwei

　　Intern He Yanling

　　Cucurbita pepo fires fire and cupps grandpa, and snake essence is busy broadcasting live. When online celebrity and Mario are taken away by the wolf as Little Red Riding Hood … … The animated characters of childhood have crossed, mixed and blended with modern elements, and turned into a series of new cartoons to brush up the circle of friends. After 80 s and 90 s, they called "ruining childhood", but they couldn’t help laughing. The creator Du Ke is an advertising designer, and he still hopes to record his childhood in such a special way. Du Ke said that since last week, after his works were turned into a fire by the Internet, he was overwhelmed by the business cooperation that followed. He was encouraged to be recognized by so many people, but he would not lose his mind and forget his original intention.

　　Pick up the brush after 12 years of work.

　　Last week, the circle of friends after 80s and 90s was screened by a series of cartoons that "ruined childhood", and the cartoon images in childhood memories were vividly moved into modern life, and they were mixed on the paper. The author’s mind is wide open, and his works look humorous and interesting, but they make many people who have passed their thirties laugh with tears.

　　The Beijing Morning Post reporter contacted the author Du Ke. At the age of 34, he worked in a well-known American advertising company, and all his online works were created in his spare time. "I am very busy at work, and I will work overtime endlessly when I meet urgent tasks. In order to decompress, I thought of painting. " He said.

　　Du Ke liked painting since he was a child, but he didn’t begin to receive professional training until he graduated from primary school. It took only half a summer vacation, and some Du Ke with artistic talent was admitted to the High School Attached to the Central Academy of Arts and Crafts. Since then, Du Ke has been admitted to Tsinghua Academy of Fine Arts after six years of study in cultural and professional courses.

　　"At that time, my understanding of studying art was to be a painter or illustrator in the future. I felt that my work could not be separated from brushes." By mistake, after graduating from college in 2005, Du Ke worked in a number of domestic and foreign companies, always focusing on the advertising industry. Busy work and endless overtime, Du Ke found that his career was far from his original ideal.

　　But how to find a balance between real life and dreams has become a problem he often thinks about. I think I have to find my past dream for myself and let it decompress my present life. Since 2015, there have been two more things on his desk, a large tin candy box filled with watercolor pens and a thick painting book.

　　Creativity is a "flash of light"

　　In a room of more than 10 square meters, there are almost two display cabinets tailored for his "collection". Plastic tumbler doll, cat shower, retro alarm clock, tin car … … Some of them are playmates that Du Kezhen has been hiding for more than 20 years, and some of them are "treasures" that he scoured back from the flea market in recent years. If it weren’t for the computer on the computer desk, standing in Du Ke’s room, the reporter would feel trance-like when he was a child.

　　"I’m a nostalgic person," said Du Ke, who likes painting and is engaged in advertising creative work. He simply opened his mind and had the idea of combining classic images with current life. "What kind of story would happen if the cartoon characters who accompanied us in childhood grew up and were around us?"

　　Du Ke picked up the album and told the reporter, "Every idea in it comes by accident, which can be said to be ‘ An epiphany ’ There is no preparation. For example, this dialogue between Spongebob and frozen tofu is that I think it is too like Spongebob when I eat frozen tofu one day. What will it look like if I put these unrelated things together? For example, in the gourd doll, the centipede looks at the red envelope in the Spring Festival Evening, which is also a brainwave during the New Year. It can hold many mobile phones with both hands and feet. This picture is funny. "

　　Although he had an idea, Du Ke couldn’t sit down and write at any time. In most cases, he quickly wrote a rough outline on his mobile phone and then took time to draw. "It takes five or six hours for each painting to draw lines with a pencil and finally paint with a watercolor pen, so he often stays up late and doesn’t care about eating." However, Du Ke said that even so, he was still very happy, especially after signing his name at the end of the work, his sense of accomplishment was bursting.

　　Reject all business cooperation

　　From June 22, the network became popular, which made Du Ke unexpected. Du Ke said that at first, several online celebrity ships in Weibo forwarded their works. On June 21st, Weibo, the official of Shanghai Animation Film Studio, forwarded a gourd doll’s cupping work for grandpa, and its influence was further expanded.

　　"On the same day, an editor of WeChat WeChat official account contacted me and wanted to reprint it. I agreed, but I didn’t expect the other party to tell me that the content had more than 100,000 hits that night. As of the evening of June 24, the number of hits has exceeded 2 million, and they are also very surprised. " Du Ke said that as his works were widely forwarded, his Weibo and WeChat WeChat official account also exploded with tens of thousands of fans overnight, and about a quarter of the messages were asking when he could publish his works.

　　"I am particularly touched, not because of the ‘ Red ’ Instead, many people have found resonance in my works and are even willing to share their memories with me. "

　　Among the many messages, many people came to seek business cooperation, and Du Ke refused them one by one. "It’s still the same idea. The original intention of my painting is to do what I like freely. At present, I have painted more than 60 paintings. When this book is full, I hope to publish a book. This is my dream. "

　　■ Reporter’s Notes

　　We don’t run away, but we miss it after all

　　From bidding farewell to the small commodity market to the return of "bag drenching", from fried kebabs in Daoxiang village to paying tribute to the old TV series Dream of Red Mansions and Journey to the West, in recent years, the "post-80 s" generation seems to suddenly become old-fashioned, with nostalgia prevailing and falling into collective memories. Although Du Ke’s cartoon is called "Subversion of Childhood Memories", its essence is still a deep nostalgia for the past years, only a funny stalk is changed, which makes those "old" cartoon characters catch up with the present years.

　　In the interview, Du Ke’s words left a deep impression on me, "It is escapism to be afraid of nostalgia". Du Ke, who has passed his thirties, misses the pure happiness and knows that he has a mortgage in his reality. Although he can’t ignore his willful pursuit of dreams, it doesn’t prevent him from picking up a brush to circle a "private plot" and creating his own utopia. This is not a "surrender" in the face of trivial life, but a "principled compromise". Naughty cartoonists have childlike innocence and initial heart that can’t be erased by years.

　　The "post-80s" have a distinct brand of the times and a unique growth track. As this generation has basically passed the "standing", its responsibilities are getting heavier and heavier, and the heart of that "child" is still looking back. Thanks to Dukes, we keep the silhouette of youth with creativity. We don’t dwell on the past, but we miss it after all.

　　Beijing Morning Post live news reporter Zhang Jingshu and photo