Recently, the Ministry of Commerce announced that it will deepen the integration of domestic and foreign trade and help foreign trade enterprises whose exports are blocked to explore the domestic market. Under the policy call, leading retail enterprises such as JD.COM, Box Horse, Yonghui Supermarket and CR Vanguard responded quickly, helping foreign trade enterprises to expand domestic sales by opening up "green channels" and setting up special procurement funds.

　　Speaking of "export to domestic sales", people with a little experience will not be unfamiliar. In the 1980s and 1990s, "export to domestic market" and "foreign trade goods" often meant high quality, which was synonymous with good things and tight goods. Nowadays, times have changed. Helping foreign trade enterprises "export to domestic sales" is a trend, and it has strong practical pertinence and urgency.

　　For foreign trade enterprises, expanding domestic sales channels can alleviate the pressure of export obstruction and inventory backlog, and solve the urgent need; For consumers, the entry of export products into the domestic market will effectively enrich commodity categories, promote market competition and enhance the sense of "buy in buy buy"; For e-commerce platforms and offline supermarkets, this move will also help to expand the supply chain and enhance their attractiveness and competitiveness … It can be seen that "exporting to domestic sales" is a real win-win move.

　　In the long run, this move is not an expedient measure. According to statistics, in 2024, among the hundreds of thousands of enterprises with export performance in China, nearly 85% enterprises are engaged in domestic sales at the same time, and it is a general trend to give consideration to both inside and outside. "Export to domestic sales" has long-term significance for foreign trade enterprises to enhance their resilience and enhance their overall strength. From the overall situation, it is self-evident that the significance of boosting consumption and expanding domestic demand in an all-round way at present. Boosting consumption needs supply innovation and good goods to help-promoting the "silky" foreign trade products into thousands of households is of great benefit to boosting consumption.

　　How to "turn" exports to domestic sales? It must be noted that foreign trade and domestic demand markets are different, with different standards and different channels, and many foreign trade enterprises are facing the problem of "acclimatization". In particular, it is very important to unblock channels. In this regard, the e-commerce platform can play a strong assisting role through direct procurement, traffic tilt, marketing support and intensive training. For example, in view of the pain points and needs of foreign trade enterprises, some platforms indicated that they would directly purchase high-quality products of foreign trade enterprises by relying on the self-operated mode and supply chain capabilities, and set up a foreign trade excellent product area to accelerate the opening of sales through traffic tilt and omni-channel marketing support.

　　At present, all parties are speeding up the opening of the "export to domestic sales" policy. Focusing on "export to domestic sales", large enterprises such as e-commerce and Shangchao have moved at the news, showing the responsibility of enterprises, which is also the transmission of confidence and the convergence of strength. I believe that with the efforts of all parties, "export to domestic sales" will become a new blue ocean and open up a new world.

Whether it’s a computer or a mobile phone.

We basically type a lot of words every day.

Therefore, various input methods are also varied.

But just recently,

The three major input methods were suddenly removed from the shelves.

On June 11th, iFLYTEK input method, sogou input method, QQ input method, etc. were removed from the shelves of several application stores because they did not fully meet the rectification requirements of the National Network Information Office on May 1st regarding the violation of personal information collection.

The reporter’s search found that these applications could not be found in the Apple App Store. The Huawei App Store showed that "according to relevant policies, this application download is not provided for the time being." According to the report of the Internet Information Office, the reasons for the removal of the above three input methods are related to the unfinished rectification of the problem of "collecting personal information unrelated to the services provided by them".

Apple Store could not retrieve sogou and iFLYTEK input methods.

Huawei App Store shows that sogou input method and Xunfei input method are temporarily unavailable for download.

On the same day, the reporter downloaded the above three input methods through the browser and found that:

QQ input method prompts users to choose "complete experience mode" and "basic typing mode" without collecting any information, but the latter can’t use expressions and other functions.

IFLYTEK input method means "we can use our basic business functions without providing personal information", but "some functions other than basic business functions need to provide personal information".

In contrast, sogou Input Method lists the information that may be collected in the privacy policy, indicating that "if you refuse to provide it, you will not be able to enjoy the corresponding extended business functions and services."

As of press release on June 13th, three input methods have not been put back on the shelves.

Incomplete rectification

Three input methods were removed from the shelves.

It is understood that three input methods, namely, sogou input method, iFLYTEK input method and QQ input method, have been removed from the shelves, which is related to the "Notice on the Illegal Collection and Use of Personal Information by 33 Apps" issued by the National Network Information Office on May 1, which is the first time that the National Network Information Office has issued such a notice from the ministerial level. According to the notification requirements, 33 App-related operators, including the above three input methods, should complete the rectification within 10 working days from May 1, and report the rectification to the Network Data Administration of the National Network Information Office. If the rectification is not completed within the time limit, the National Network Information Office will dispose of it according to law.

The reporter noted that this bulletin involved 15 input methods, and the problems in 13 of them were "violating the necessary principles and collecting personal information unrelated to the services they provided."

For the specific reasons for the violation

Iflytek said that there are two main ones.

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1. After the old version of iFLYTEK input method is upgraded to the latest version of 10.0.20, the input setting options of the old version of Pinyin Cloud will be used, and no pop-up window will prompt the user to choose whether to open it;

2. After the user selects the close function in the prompt of Pinyin Cloud Input Pop-up Window in iFLYTEK Input Method Version 10.0.20, a second pop-up window appears asking the user to confirm.

According to iFLYTEK Input Method, as of June 11th, iFLYTEK Input Method App has been rectified, and it is being tested by relevant departments to ensure compliance before being put back on the shelves. However, sogou input method and QQ input method have not yet responded.

Privacy and convenience disputes:

Helpless choice in free mode?

The reporter found that the topic of whether the input method will steal privacy has attracted the attention of many netizens. Previously, Shell Finance collected topics related to privacy protection in Zhihu. Some netizens said, "When talking to friends about microwave ovens, diapers, facial cleanser and other things, I found that there was an input method that automatically pushed advertisements." The screenshot provided by the netizen shows that when chatting with friends on WeChat about the content of "most afraid of changing diapers", the input interface of sogou input method pops up "Children are prone to diaper rash to see the countermeasures!" Advertising pop-up window.

In this regard, some professionals said that although the basic function of the input method is typing, at present, if there are no additional functions such as emoticons and semantic associations that make users feel more "convenient", the input method will not be competitive, which is the contradiction between privacy and convenience.

The reporter found that in addition to pop-up advertisements on the input interface of input method, more people complained about the existence of pop-up advertisements on the PC side of sogou input method, seeking a solution to close the pop-up advertisements in sogou. In addition, the reporter found in January this year that when using sogou input method to search keywords in search engines, sogou input method will automatically jump to sogou search.

In this regard, the industry told Shell Finance reporter that the input method advertisement, like other free App advertisements, is a helpless choice under the current free mode. "Microsoft Smart ABC has no advertisements, but who do you think uses it? If you need convenient functions and emoticons that Lenovo can pop up, you need some expenses. At this time, you can only make the input method profitable through advertising and other means. On the other hand, free is the most expensive. "

33 apps

Illegal collection of personal information was notified.

A variety of input methods are listed.

On May 1st, official website, the National Network Information Office, issued a circular on the illegal collection and use of personal information by 33 apps such as Input Method. The notified apps mainly involve input methods, map navigation and instant messaging, among which sogou, iFLYTEK and Baidu input methods are all on the list.

The National Network Information Office stated in the circular that "in view of the problems found in the test, the relevant App operators should complete the rectification within 10 working days from the date of publication of this circular, and report the rectification to the Network Data Administration of our office. Those who fail to complete the rectification within the time limit will be disposed of according to law."

The illegal collection and use of personal information by the input method App announced by the National Network Information Office on May 1.

Source: Net Letter Jiangmen Comprehensive Arrangement

Original title: "Suddenly! The three major input methods were removed from the shelf.

The competition in the automobile market is still very fierce. What Xiaobian brings today is. Let’s take a look at it together.

Let’s take a look at the appearance of the Haval big dog first. The front of the Haval big dog is very concise and looks sporty. Then the comfortable headlight design is adopted, and the visual effect coincides with the positioning of the whole vehicle. The car is equipped with LED daytime running lights, front fog lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4620MM*1890MM*1780MM, and the car adopts solid lines. The side circumference looks very young and individual, and it is eye-catching with large-sized thick-walled tires. In the rear part, the rear looks domineering, and the taillights show a capable design style, which is very young.

Sitting in the car, the interior looks very simple and avant-garde. The steering wheel of the car is very dynamic in shape, made of leather and cool in shape. From the central control point of view, the central control screen with 12.3-inch touch-sensitive liquid crystal makes the interior design quite layered and looks scientific and technological. The dashboard and seats are equally eye-catching, and the dashboard design is remarkable, highlighting the trendy temperament. The car adopts imitation leather seats, which are wrapped in place, with exquisite materials and comfortable ride.

Haval Big Dog is matched with a wet dual clutch (DCT) gearbox, with a maximum power of 175KW and a maximum torque of 385N.m, and its power performance is good.

The car is equipped with car networking, driving mode selection, remote control key, rear wiper, engine start-stop and other configurations, and the configuration has reached the mainstream level of the same level.

The car introduced today is not only eye-catching in space, but also has reached the mainstream level in various configurations, and there is nothing to be picky about driving experience and space experience. If you are planning to buy a car, then the car above is worth considering.

According to Vietnamese media reports yesterday, Vietnamese Prime Minister Ruan Jinyong issued a statement the night before yesterday (20th), announcing a series of compensation measures for foreign companies damaged in last week’s anti-Chinese demonstrations, including tax exemption and land rent reduction. A few hours before this statement, China announced that it would demand that Viet Nam "compensate China enterprises and individuals for all losses". From May 13th to 15th, anti-China anti-Chinese demonstrations occurred in many places in Vietnam, which led to the beating, smashing and looting of Chinese-funded enterprises, resulting in the death of at least four mainland engineers. Affected by this, China suspended some bilateral exchange plans between China and Vietnam, withdrew all migrant workers from Vietnam, and Chinese’s travel to Vietnam was basically suspended. From the outside world, this is a major blow to Vietnam, which relies heavily on foreign investment and tourism.

Vietnamese Prime Minister Ruan Jinyong

Vietnamese Prime Minister announces compensation measures

Vietnamese Prime Minister Ruan Jinyong held a meeting on the 20th local time to discuss measures to help foreign-funded enterprises damaged by illegal riots in Vietnam overcome the consequences, and announced a number of emergency measures to compensate the damaged foreign enterprises.

According to the news of Vietnam News Agency on the 21st, according to the request of Vietnamese Prime Minister Ruan Jinyong, enterprises affected by the violence in Vietnam will be exempted, reduced or deferred from paying various taxes and fees and get other compensation.

According to the news, Ruan Jinyong urged insurance companies to quickly assess the losses and pay compensation. He also issued instructions to the National Bank of Vietnam, requiring local financial institutions in Vietnam to issue loans to the affected companies to help the damaged enterprises quickly resume normal operations.

According to The Wall Street Journal, the specific assistance measures mentioned by Ruan Jinyong include: the Vietnamese government will postpone the taxation of the affected enterprises for up to two years, and will also consider lowering the import and export tariffs of these enterprises. Vietnam will also reduce the special consumption tax of the above-mentioned enterprises by 30%, but the tax reduction will not exceed the total loss. Vietnam will also consider exempting or reducing the land rent of the affected enterprises and providing visa facilities for foreign workers to work in these enterprises. Urge insurance companies to quickly assess losses and pay compensation. At present, Vietnam has not announced the total losses caused by the riots.

In the statement, Ruan Jinyong asked the public security department of the country to vigorously investigate, clarify and strictly deal with the perpetrators of illegal acts, and at the same time actively trace, recover and return the lost property and technical equipment to organizations, individuals and enterprises.

Prior to this, China had asked Viet Nam to compensate Chinese enterprises for all losses.

At the press conference of the State Council Office on the 20th, Zhang Ji, Director of the Foreign Trade Department of the Ministry of Commerce, responded to the impact of the recent beating, smashing and looting incident in Vietnam on Sino-Vietnamese economic exchanges, saying that there have been serious violent incidents of beating, smashing, looting and burning against foreign investors and enterprises in many places in Vietnam recently, which have caused casualties and property losses to China citizens. China demands that Vietnam immediately take effective measures to stop all acts of violence, properly resettle the attacked Chinese enterprises and personnel, severely punish all criminals according to law, and compensate China enterprises and individuals for all losses.

From the outside world, from the economic point of view, Vietnam, which relies heavily on foreign investment and tourism, has suffered serious losses in the recent violent smashing incident, and it is urgent to mend the tense relationship with China.

The data shows that the GDP growth rate of Vietnam in 2013 was 5.4%, and the economy was obviously supported by foreign companies (including thousands of overseas projects and the establishment of overseas companies in recent years) and more than 7 million overseas tourists. Industrial output from foreign companies is rising, accounting for 46% of the total industrial output in 2012, and enterprises from Taiwan, China account for the largest proportion. In addition, Vietnamese factories are heavily dependent on the supply of raw materials from China, and a quarter of their imports come from China.

Chinese Working Group: Strongly dissatisfied with Vietnam’s failure to effectively protect Chinese.

According to the website of the Ministry of Foreign Affairs, on May 20 and 21, 2014, an inter-departmental working group of the China government went to Heping Yang Province, Ho Chi Minh City, southern Vietnam, to inspect the losses of some enterprises in China that were hit by the recent violent incident of beating, smashing, looting and burning, and had a discussion with representatives of enterprises in China to express condolences to them, understand the needs of enterprises and employees, and jointly judge the security situation.

The working group also held talks with the Vietnamese joint working group led by Chen Wennan, vice chairman of Pingyang Provincial People’s Committee. Liu Jianchao, head of the working group and assistant foreign minister, said that in the violent incident of smashing, smashing, looting and burning in Pingyang province a few days ago, a Vietnamese employee was unfortunately killed and China enterprises suffered heavy losses. We strongly condemn the violence and express our strong dissatisfaction with China’s failure to take effective measures to protect Vietnamese enterprises and employees. China demands that China severely punish criminals, compensate Vietnamese enterprises for losses, properly handle the aftermath of the victims, and take concrete and effective measures to ensure the life and property safety of Vietnamese enterprises and personnel.

Chen Wennan said that the recent incident caused the death of a China citizen and the loss of enterprises in China. Pingyang provincial government will definitely bring the criminals to justice, compensate and subsidize the losses suffered by enterprises in China according to law, and will learn from the lessons and take all measures to strengthen the deployment of police forces and information reporting to ensure the safety of enterprises and personnel in China.

　　Can you launch crowdfunding with a car and a house? Recently, a fund-raising event for a burned family in Shunde, Guangdong Province caused controversy. The two families traveled in the same car, and they were taken to the hospital for emergency treatment after an accident of car fire on the way. Faced with huge medical expenses, he initiated a fundraising request on an online public welfare crowdfunding platform and quickly completed the fundraising goal of 6 million yuan. Subsequently, Liang’s burned family, who received a donation of 4 million yuan, was exposed by netizens as having a house, a car and an industry, and some netizens questioned it. (Voice of China, August 13th)

　　In this controversy, both the burned family and the questioning netizens have reasonable points. The brother of the injured said that the younger brother’s family had a workshop, a self-built house and a car. The family situation was not bad, but it was not rich. "Paying millions of yuan for huge medical expenses is still far from enough." In the eyes of some netizens, their previous practice of not telling their families the real situation blurred the boundary between giving timely help in the snow and icing on the cake, and they also felt cheated.

　　The most critical problem is the asymmetry of fundraising information. Because the donors can’t truly and comprehensively understand the basic family status of the fundraiser during crowdfunding, once this information is exposed afterwards and it is found that they are not so difficult, it is easy to have a negative feeling of being consumed in good faith. In fact, looking back at the controversial cases such as the Rohr incident, the death of Xiao Fengya, and the "selling miserable anti-cancer up owners", the absence of key fundraising information is the important reason why the incident has been "reversed" again and again and the parties (families) have been bitten back.

　　On the one hand, in order to get more donations, some help-seekers will deliberately make selective presentations, deliberately highlight their particularly "miserable" and "difficult" side, and conceal personal information that is "not conducive" to sympathy. Especially in the story-telling and emotional expression from the media, the softest part of the public’s heart is easily triggered, and it is generous after the "tears" are accurately hit.

　　On the other hand, such concealment and misleading are likely to lay the groundwork for this later "reversal". When the situation of help seekers becomes the focus, the lack of relevant information will leave too much room for "brain supplement" and even become a hotbed for rumors. In the Xiaofengya incident, the parents of the sick girl were once accused of using their children’s illness to raise money and then gave up treatment. With the repeated doubts about fraudulent donations, unfounded statements such as "Xiao Fengya was abused by her parents" and "son preference" became popular, making the fundraising activities that were originally full of goodwill eventually become a chicken feather.

　　Truth is the basis and premise of developing public welfare activities. In the case of a burned family in Guangdong, only when the real economic situation of the family is known can people make judgments according to the necessity and urgency of the matter, so as to decide whether or not to donate and how much to donate. If the information is not fully disclosed, it will actually hurt the authenticity and disrespect the right to know of caring people.

　　Many times, some help-seekers have concerns that they can’t get social sympathy after they announce that they have a house and a car. As Wang Zhenyao, a public welfare expert, pointed out, the public generally has a particularly miserable and helpless imagination of the recipients. We should also realize that with the improvement of the overall living standard of society, the background and actual situation of help seekers are also very different. In the face of unexpected disasters that cost millions of dollars, not being "poor" at home does not mean that there are no difficulties. Especially in the case that a large amount of money is needed for medical treatment in the short term, even if you have a house and a car, it does not mean that you can get the money at once. In this regard, the public’s charity concept should also keep pace with the times, and be more understanding rather than demanding of those in trouble.

　　In recent years, the development of Internet public welfare crowdfunding platform has indeed provided an important channel for the public to convey goodwill and help the poor. However, similar cases in which public welfare is marketed and goodwill is used also put forward higher requirements for the professionalism and scientificity of platform operation. To effectively solve the problem of asymmetric donor information, we should start with the system design.

　　For example, for key information such as the basic situation of the family, users can’t just fill it in truthfully at the front end, and the platform should also do a good job of fact checking and do its duty of prompting for information risks. For the flow of donations, we should also try our best to achieve openness, transparency and earmarking, so as to avoid making the money a confused account.

　　The goodwill of the public is an expression of good feelings. However, such feelings should not be intentionally incited or abused casually. It should be a consensus to return public welfare to a rational and professional track and reduce misunderstandings and injuries caused by information asymmetry.

　　Ren Guanqing Source: China Youth Daily

What should I do if I can’t switch the sogou input method?

　　What if I can’t switch the sogou input method? Sogou input method is one of the input methods that many users like to use. Sometimes, pressing the shortcut key "Shift+Ctrl", sogou input method can’t be switched. So what’s going on? In fact, as long as the sogou input method is repaired, this problem can be solved. Let’s take a look at the solutions that sogou’s input method can’t switch.

　

The Solution of sogou Input Method Unable to Switch;

　　1. Right-click where the input method is displayed and select [Settings];

　　2. Enter the settings window of text service and input language, click [sogou Input Method] and then click [Properties];

　　3. Click [Input Method Repair] under the property settings of Sogou Pinyin input method and then click [One-click Repair];

　　Repair succeeded! Try again at this time. If it doesn’t work, try restarting the computer.

Brief Introduction of sogou Input Method

　　Sogou input method is a Chinese Pinyin input method recently launched by Sohu, which is a great breakthrough compared with Intelligent ABC and Microsoft Pinyin input method. First of all, it has increased a lot in the thesaurus. The sogou input method includes the most popular phrases, including the names of famous stars, into the thesaurus by analyzing a large number of web pages, so that the phenomenon that commonly used phrases can’t be typed is no longer seen. Secondly, the interface has also been greatly improved. Chinese characters will be automatically displayed below the typed letters, and it is no longer necessary to press the space bar. More convenient input and faster typing speed are the main features of sogou input method.

　　Sogou input method is different from the traditional method in that it adopts search engine technology, which is the second generation input method. Thanks to the adoption of search engine technology, the speed has made a qualitative leap, and sogou is far ahead of other input methods in terms of the breadth of thesaurus and the accuracy of words.

　

King Arthur: Legend of the Sword

1905 movie network news A trailer of two minutes and ten seconds, filmed by guy ritchie, was released recently. In the preview, he interspersed and edited a lot of reality and dream content, making the whole preview unpredictable. Unlike the previous trailer, which focused on action scenes, this trailer seems to be dedicated to expressing the complexity of the film story. In the preview, King Arthur and his entourage, the tyrant Votigen and his army, appeared in a dazzling array.

In the second half of the preview, the editing speed is obviously accelerated. With the simple guitar soundtrack and the addition of a large number of CG animations, the whole preview is very modern. The lens language of the film is varied, and the fast-moving lens, multi-camera shooting and fast editing make people feel the texture. It can be said that King Arthur: The Legend of the Sword is a very young and stylish work in terms of texture and film vocabulary. The story of the guy ritchie version of "Young Arthur" will be quite different from the previous version. Obviously, guy ritchie will not deal with this story in the traditional way, but also wants to use a lot of CG technology to set off the fantastic elements in King Arthur’s story. According to the official introduction, this bold new story introduces the audience to a young man Arthur, who, together with his small gang, controls the secret market in ancient London. Before he pulled out "legend of king", Arthur didn’t know the meaning of his existence, and he didn’t know where his future would go. Arthur pulled out Rapier, which also means that his life will face different challenges, and he has to make some difficult choices. Arthur was in a lot of trouble and was entangled with a woman named Guinevere. By this time, the villain Vortigern had stolen Arthur’s crown, killed his parents and proclaimed himself king. Arthur must learn to control Rapier,He must face the devil in his heart and lead the people to unite and defeat the tyrant Vortigern.

Behind the scenes, screenwriter Joby Harold wrote the first edition of the script for the film. Leonard wigram, a screenwriter directed by guy ritchie, will also write. In addition to Charles Hunnam and Jude Law, the cast of this film also includes eric bana, who plays King Arthur’s father Uther Pendragon, Astrid Burgess-Frisbee, who plays a magician, and the heartthrob David Beckham plays a grumpy warrior who is very jealous of the young King Arthur who can pull out the sword in the stone. He had previously made a guest appearance as a slide projector in guy ritchie’s Secret Agent.

According to the plan, the film will be released in North America on May 12 this year, and it is rumored that it is expected to be introduced in the mainland.

What school is IELTS? Where is the school? Regarding this question, the following small series will answer it for everyone.

IELTS is not a school. IELTS generally refers to the international English language testing system.

The English Examination was established in 1989 and is jointly managed by the British Council for Cultural Education, the Examination Committee of Cambridge University and the Australian Education International Development Agency (IDP). As an internationally recognized English test, IELTS is recognized by 10,000 institutions in more than 140 countries and regions around the world, and more than 3 million people take the IELTS test every year.

High global recognition

1. British universities and British visa and immigration authorities have double trust in IELTS.

2. 3,300 American institutions recognize and trust IELTS scores, including all Ivy League schools and all American institutions ranked in the TOP100 in the world.

3. All Australian institutions recognize and trust IELTS scores, and study abroad, work and immigration are all settled.

4. IELTS is highly trusted in Canada, which makes it the only English test designated by the SDS/SPP Convenient Visa Program.

1. Paper-pen mode

Candidates who choose the paper-and-pencil mode will take the listening, reading and writing exams through the paper-and-pencil mode, and take the oral exam through the "everyone talks" form. Paper-and-pencil mode is suitable for IELTS academic and training classes, and IELTS academic and training classes for British visas and immigrants.

2. Computer test mode

Candidates who choose the computer-based test mode will take the three-part test of listening, reading and writing through the computer-based test mode, and take the oral test in the form of "everyone talks". The computer test mode is suitable for IELTS academic and training classes, and IELTS academic classes for British visas and immigrants.

> > IELTS TOEFL free test, tailor-made planning, making English learning no longer difficult <

Wen | Biange @ Shijin Institute

Gree Electric’s control rights change ushered in new progress!

On the evening of April 8, Gree Electric announced that Gree Group intends to transfer 15% of the total share capital of Gree Electric held by Gree Group through public solicitation of transferees.

After the transfer is completed, the controlling shareholder and actual controller of Gree Electric may change. On April 9, Gree Electric resumed trading, and the daily limit was directly increased after the opening.

Information shows that Gree Electric landed on the main board of Shenzhen Stock Exchange in 1996. After listing, Gree Group has been the controlling shareholder, and the actual controller is Zhuhai SASAC. In 2004, Zhu Jianghong, then the chairman of Gree Electric, said that Gree Electric would introduce strategic investors instead of monopolizing state-owned shares.

In March 2006, Gree Electric started the share-trading reform, and the shareholding ratio of Gree Group decreased to 41.06%. By realizing the circulation of state-owned shares, Gree Group set aside some shares from its holdings as the stock source of Gree Electric management’s equity incentive plan.

In order to introduce the dealer alliance into the company’s strategic investors, Gree Group transferred part of its equity to Hebei Jinghai Guarantee Investment Co., Ltd., which is the shareholder of Gree Electric’s major dealers. These measures have reduced the shareholding ratio of Gree Group.

Gree Electric’s 2010 annual report shows that Gree Group holds 1.096 billion shares, with a shareholding ratio of 18.22%. Subsequently, it has been maintained at this shareholding number and shareholding ratio.

Gree Electric’s third quarterly report in 2018 shows that apart from Gree Group, the second largest shareholder among the top ten shareholders is Hebei Jinghai Guarantee Investment Co., Ltd., which is owned by the main distributor in Gree Electric and holds 8.91% of the shares in Gree Electric. The third to ninth shareholders are all institutional investors, and the tenth largest shareholder is Dong Mingzhu, with a shareholding ratio of 0.74%.

If the transfer of shares is successful, the proportion of shares held by Gree Group in Gree Electric will drop to 3.22%, and it will still rank among the top 10 shareholders.

By 2018, the total operating income of Gree Group is expected to exceed 200 billion yuan, the net profit exceeds 26 billion yuan, and the net profit attributable to state-owned shareholders exceeds 4 billion yuan, up by 33.37%, 19.15% and 12.90% respectively. Among them, Gree Electric made a great contribution.

According to Gree Electric’s performance forecast, in 2018, Gree Electric is expected to achieve operating income of 200 billion to 201 billion yuan, a year-on-year increase of more than 33.33%; It is estimated that the net profit will be 26-27 billion yuan, a year-on-year increase of 16%-21%.

In addition, Gree Electric pays large dividends almost every year. Since its listing in 1996, Gree Electric has paid dividends for 19 times, with a cumulative dividend of 41.8 billion yuan, with a dividend rate of 40.65%. Statistics show that after listing, Gree Group received more than 8.8 billion yuan in dividends from Gree Electric.

In fact, this sale plan of Gree Group makes investors quite puzzled. With low valuation, sufficient cash flow and high profit level, Gree Electric is a high-quality "white horse stock" envied by everyone in the capital market. For the major shareholder Gree Group, it is definitely a quality asset. Then, why did Gree Group sell the equity of Gree Electric and give up its controlling position?

(1) Liquidating funds and investing in other projects

According to the announcement issued by Gree Electric on April 8, equity transfer price is not lower than the arithmetic average of the daily weighted average price in the 30 trading days before April 9, and the final transfer price is subject to the result of public solicitation and approval by the state-owned assets supervision and administration department.

According to the average share price of 45.59 yuan/share in the 30 trading days before April 9, the market value of Gree Electric’s 15% equity is about41.1 billion yuan.

If the equity transfer plan goes smoothly, Gree Group will recover more than 40 billion yuan in one time, accounting for one-third of Zhuhai’s fiscal revenue in 2018.

According to public information, Gree Group was founded in March 1985 and has grown into the largest and most powerful state-owned leading enterprise in Zhuhai, covering manufacturing, financial investment, construction investment, construction and installation, and island tourism.

Gree Group owns more than 20 companies, including Gree Electric, Gree New Technology, Zhuhai Jian ‘an Group, Gree Energy Trade, Gree Aviation Investment, Gree Petrochemical and Gree Finance.

Official website, Gree Group, said that it will deepen the strategic pattern of "one core and four pillars" around the goal of "building a domestic first-class comprehensive enterprise driven by investment and innovation" and create a new situation of "second venture" with greater achievements.

2018 is the foundation year of Gree Group’s "second venture". At the 2019 work conference held by Gree Group in January 2019, Zhou Lewei, chairman of Gree Group, proposed that in the work of 2019, we should actively promote all work to make bright spots and show the new image of Gree Group’s "second venture".

For the huge amount of money harvested after the sale of Gree’s equity, Gree Group can not only increase its capital, but also set up industrial funds to invest in other potential industries.

In addition, on April 1st, after the central government lowered the value-added tax, the fiscal revenue of the Pearl River City may be compressed, and the sale of Gree shares can also supplement some government coffers.

(2) conform to the trend of mixed reform of state-owned enterprises

In fact, as early as 2013, the National Development and Reform Commission issued a document to support private enterprises and foreign enterprises to acquire holding state-owned enterprises. The so-called mixed reform (mixed ownership reform of state-owned enterprises) is to add private (unofficial) capital to the state-controlled enterprises, making the state-owned enterprises become multi-holding, but still state-controlled enterprises to participate in market competition. The ultimate goal of mixed reform is to make the state-owned enterprises more competitive and dynamic in the reform and make the governance system of state-owned enterprises more in line with the modern corporate governance mechanism.

In October 2018, the central government successively issued a number of policies to promote mixed reform. the State Council, the State-owned Assets Supervision and Administration Commission, and local governments successively issued policies to allow private enterprises to participate in shares, even holding state-owned enterprises, without setting an upper limit on the shareholding ratio. In January 2019, the State-owned Assets Supervision and Administration Commission (SASAC) once again clearly put forward the policy of supporting mixed reform.

It is against this background that the controlling rights of many state-owned listed companies have changed recently. For example, the actual controller of Zhongju Gaoxin was changed to Yao Zhenhua of Baoneng Department, and the actual controller of Hanshang Group was changed from Wuhan SASAC to Yan Zhi, a natural person.

Facing the trend of mixed reform of state-owned enterprises, it is the general trend for Gree Group and Zhuhai Municipal Government to promote the reform of mixed ownership in Gree Electric.

Specifically, the strategic reduction of Gree Electric by Zhuhai State-owned Assets Supervision and Administration Commission is a key measure to promote the reform of state-owned enterprises to "manage capital", which has reference significance for Guangdong Province and even the whole country to further implement the reform of mixed ownership of state-owned enterprises.

In September 2018, the State-owned Assets Supervision and Administration Commission of Zhuhai issued a guiding opinion on improving the quality of state-owned enterprises, proposing to steadily implement the reform of mixed ownership, taking diversification of property rights and introducing strategic investors as a breakthrough to promote the mixed reform of municipal enterprises.

On the timetable, this opinion pointed out that by 2021, the coverage rate of mixed ownership reform of Zhuhai municipal enterprises at all levels should reach more than 70%, and 2-3 mixed reforms will be implemented at the group level, and 2-3 listed companies will participate in investment in advanced manufacturing industries.

Gree Electric is a commercial state-owned enterprise in fully competitive industries and fields, and it is also a very famous high-quality asset, so it is of great significance to mix and reform it.

The reform of mixed ownership will make Gree Electric truly realize the transformation from mixed ownership to reform. By introducing strategic investors, three system reforms will be further promoted in the process of mixed ownership reform, and market-oriented selection and employment and incentive and restraint mechanisms will be established, which will help Gree Electric to establish an effective corporate governance structure with checks and balances and a flexible and efficient market-oriented operating mechanism.

As one of the earliest four special economic zones in China, Zhuhai’s move of "returning and bringing in" will not only conform to the deepening situation of state-owned enterprise reform, but also strongly promote the transformation of government image and the "second venture" of Zhuhai’s economy. In this process, Gree Electric is expected to lead a new round of mixed reform in Zhuhai.

(3) The control right of Zhuhai SASAC has already been weakened.

From the perspective of shareholding structure, Gree Group is the largest shareholder in Gree Electric, with a shareholding ratio of 18.22%, and Dong Mingzhu personally holds 0.74% of Gree Electric, making it the tenth largest shareholder in Gree Electric.

However, for a long time, the control right of Zhuhai SASAC over Gree Electric has been greatly weakened. Under such circumstances, it is understandable that Gree Group "has" backed out.

Since Dong Mingzhu took charge of Gree, the wrestling between Dong Mingzhu and Zhuhai SASAC, the major shareholder of Gree Group, has been going on.

In May 2012, when Zhu Jianghong stepped down as the chairman of Gree Group and Gree Electric, Dong Mingzhu took over as the chairman of Gree Group, but Zhuhai SASAC appointed Zhou Shaoqiang, the former deputy director of SASAC, as the party secretary and president of Gree Group, and nominated him as the director of Gree Electric.

According to the conventional script, Zhou Shaoqiang will be the chairman of Gree Electric, but he failed to pass the election of the board of directors and only got 36.6% of the votes.

In January 2013, it was revealed that Zhou Shaoqiang spent 12 bottles of red wine in a luxury club, and was removed from the leadership position of Gree Group.

In October 2016, the State-owned Assets Supervision and Administration Commission of Zhuhai dismissed Dong Mingzhu as the chairman, president and legal representative of Gree Group on the grounds that the chairman of the listed company and its affiliated group could not serve concurrently.

The fierce control struggle is coming to an end in 2018, and the newly appointed Zhuhai Municipal Party Committee Secretary said, "I hope Dong Mingzhu will lead the young Gree to continue to create brilliant achievements".

On January 16th, 2019, the list of the new board of directors of Gree Electric was finally released. This time, there were 9 directors, 2 more than the previous one. Among them, there are still three independent directors, namely Liu Shuwei, Xing Ziwen and Wang Xiaohua. The number of non-independent directors increased from 4 to 6, namely Dong Mingzhu, Huang Hui, Wang Jingdong, Zhang Wei, Zhang Jun Governor and Guo Shuzhan.

Almost all of these six non-independent directors come from the senior management of Gree Electric, among which Gree Group, the major shareholder of Gree Electric, has acquired four directors, namely Dong Mingzhu, Huang Hui, Wang Jingdong and Zhang Wei. Huang Hui is the CEO of Gree Electric, Wang Jingdong is the vice president, financial controller and secretary of the board of directors of Gree Electric, and Zhang Wei is currently the executive vice president of Gree Group.

The other two non-independent directors, Governor Zhang Jun and Guo Shuzhan, are also the backbone of the Gree Electric dealer system built by Dong Mingzhu. Such a list once again ensures Dong Mingzhu’s controlling position in Gree Electric.

According to the shareholder information of Gree Electric, the current shareholding ratio of Gree Group, the controlling shareholder, is 18.22%. After the transfer of 15%, Gree Group will continue to hold 3.22% of the shares.

According to Gree Electric’s Articles of Association, shareholders holding more than 3% of shares have the right to nominate directors. Gree Group shares still left 3.22% after the transfer of shares, which may be related to this relevant regulation. In this way, in the corporate governance structure of Gree Electric in the future, Zhuhai SASAC will still retain certain right to speak and make business decisions.

It is worth noting that the retention of shares and the right to nominate seats on the board of directors echo the revision of Gree Electric’s Articles of Association in early 2019. On January 2, 2019, Gree Electric revised the Articles of Association, adding two institutions: the Party Committee and the Commission for Discipline Inspection.

The second, third, fourth and fifth largest shareholders in Gree Electric’s shareholding structure are Hebei Jinghai Guarantee Investment Co., Ltd., with a shareholding ratio of 8.91%; Hong Kong Securities Clearing Company Limited (Land Stock Connect) holds 7.86%; China Securities Finance Co., Ltd. holds 2.99%; Qianhai Life Insurance Company Limited &mdash; &mdash; Haili holds 1.92% every year.

If 15% of Gree Group’s shares are transferred to a single strategic investor, then Gree Group will become the fifth largest shareholder. Looking back, the reason why Gree Group set up two new governance institutions in early 2019 may be to consider maintaining the influence of Zhuhai SASAC beyond the shareholding ratio.

　

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