CCTV News:On January 1, 2019, a number of new laws and regulations will be officially implemented. The implementation of the "Electronic Commerce Law of the People’s Republic of China", the sale of goods by means of WeChat friends circle and live broadcast is clearly an "e-commerce operator"; When paying individual taxes in the future, six expenses such as children’s education, housing loan interest or housing rent, and supporting the elderly can also be deducted; The mobile phone number began to support remote account cancellation.

　　Selling goods by means of WeChat friends circle and live broadcast is clearly an "e-commerce operator"

　　On January 1, 2019, China’s first e-commerce law, the e-commerce law of the People’s Republic of China, was officially implemented. The new law clarifies that natural persons who engage in business activities of goods and services by means of WeChat circle of friends, webcasting, etc. are also e-commerce operators. Refusing to refund the deposit and maliciously tying these infringements will face a fine of up to 500,000 yuan. At the same time, malicious brushing of praise and unauthorized deletion of bad reviews are also explicitly prohibited.

　　Implementation of the first soil pollution prevention and control law in China

　　The Law on Prevention and Control of Soil Pollution in People’s Republic of China (PRC) will be officially implemented on January 1, 2019, which is the first time that China has formulated a special law to regulate the prevention and control of soil pollution. Based on the principles of giving priority to prevention, giving priority to protection, risk control, classified management, pollution responsibility and public participation, the Law on Soil Pollution Protection has defined the basic systems and rules on soil pollution prevention and control planning, soil pollution risk control standards, soil pollution survey and monitoring, soil pollution prevention, protection, risk control and restoration.

　　Old and young, house and school? Here comes your tax bonus.

　　The Interim Measures for Special Additional Deduction of Individual Income Tax shall come into force on January 1, 2019. In the future, taxpayers can calculate the taxable income of individual tax, and besides the basic deduction of 5,000 yuan and special deductions such as "three insurances and one gold", they can also enjoy six special additional deductions such as children’s education, continuing education, serious illness medical care, housing loan interest or housing rent, and supporting the elderly.

　　For example, in terms of children’s education, the expenses related to children’s pre-school education and full-time academic education from primary school to doctoral students after reaching the age of 3 are deducted according to the monthly 1000 yuan standard for each child, and the high school education includes technical education; The interest expenses of the first home loan incurred by the taxpayer himself or his spouse can be deducted according to the monthly 1000 yuan standard; According to the different cities, the eligible housing rent is deducted according to the monthly standard of 1,500 yuan, 1,100 yuan and 800 yuan; In terms of supporting the elderly, taxpayers’ expenses for supporting their parents who have reached the age of 60 are deducted according to certain standards. Among them, the only child is deducted according to the standard of 2,000 yuan per person per month, and the non-only child and his siblings share the deduction amount of 2,000 yuan per month.

　　How to declare? Taxpayers can choose to apply for deduction in the withholding unit. Taxpayers can directly submit paper or electronic forms to the financial or human resources department, or fill them out through mobile App or webpage and push them to the withholding unit.

　　Social security will be uniformly collected by the tax authorities, and employees’ social security rights and interests will be more secure.

　　The "Reform Plan for the Collection and Management System of National Taxation and Local Taxation" clarifies that from January 1, 2019, various social insurance premiums such as basic old-age insurance premiums, basic medical insurance premiums, unemployment insurance premiums, work injury insurance premiums, and maternity insurance premiums will be uniformly collected by the tax authorities. At present, some enterprises do not provide employees with social security, and more commonly, they do not provide employees with full social security. This situation is expected to change after the social security fee is uniformly collected by the tax authorities.

　　Zero tariff on 63 kinds of pharmaceutical raw materials

　　The Adjustment Plan for Provisional Import and Export Tax Rates in 2019 will be implemented on January 1, 2019. According to the plan, since January 1, 2019, zero tariffs will be imposed on important raw materials urgently needed to be imported for domestic production and treatment of cancer, rare diseases, diabetes, hepatitis B, acute leukemia and other drugs, involving 63 varieties under 31 tax items.

　　New version of birth certificate launched

　　Since January 1, 2019, the new version of the birth medical certificate has been launched. Compared with before, the medical certificate of birth (6th edition) changed the words "produced by the National Health and Family Planning Commission of the People’s Republic of China" on the back cover of the medical certificate of birth (5th edition) to "produced by the National Health and Wellness Commission of People’s Republic of China (PRC)".

　　Haitao is cheaper. Cross-border e-commerce retail import policy adjustment

　　From January 1, 2019, China will raise the upper limit of commodity quotas enjoying preferential tax policies and expand the scope of the list. Increase the annual transaction limit from 20,000 yuan per person per year to 26,000 yuan, and increase the camera with the increase of residents’ income in the future; Increase the limit of a single transaction to 5000 yuan.

　　Mobile phone number supports remote account cancellation.

　　According to the Ministry of Industry and Information Technology, China Mobile, China Telecom and China Unicom are required to officially provide off-site mobile phone number cancellation services nationwide from January 1, 2019.

　　Major adjustment of passport policy for overseas China citizens.

　　In order to better meet the needs of overseas China citizens to apply for passports, the passport policy for overseas China citizens will be greatly adjusted. After the adjustment, overseas China citizens will no longer be required to settle abroad when they renew their passports, and the requirements for application materials will be further relaxed, which will make it more convenient for minors to apply for permits, and at the same time, the time for obtaining evidence will be greatly shortened, with the shortest time being about one week. The adjustment of relevant policies will be officially implemented on January 1, 2019.

　　The road transport certificate and driver’s qualification certificate of ordinary freight vehicles with a total mass of 4.5 tons or less shall be cancelled.

　　The Ministry of Transport issued a notice that since January 1, 2019, local transportation management departments will no longer issue road transport permits for ordinary freight vehicles with a total mass of 4.5 tons or less. Since January 1, 2019, for ordinary freight vehicles with a total mass of 4.5 tons or less engaged in ordinary cargo transportation activities, local transportation management departments shall not impose administrative penalties on such vehicles and drivers on the grounds of "operating without a license" and "driving road passenger and freight transport vehicles without obtaining corresponding qualification certificates".

　　Cctv news(News Network): The the State Council Joint Prevention and Control Mechanism held a press conference today (October 13th) to introduce the situation of scientific and accurate epidemic prevention and control.

　　According to the relevant person in charge of the National Health and Wellness Commission, the current global epidemic situation is still at a high level. China’s local cluster epidemic shows the characteristics of "many spots, wide areas and frequent occurrences", and the prevention and control situation is still severe and complicated, but it is generally controllable. The National Health and Wellness Commission and the National Bureau of Disease Control and Prevention strengthened overall planning and dispatched working groups to strengthen the epidemic prevention and control forces in Xinjiang, Inner Mongolia, Ningxia, Yunnan, Shanxi and Tibet.

　　Experts from the joint prevention and control mechanism in the State Council said that the "dynamic zero clearing" implemented by the China Municipal Government is based on the anti-epidemic concept of "people first, life first", and the core of "dynamic zero clearing" is to block the continuous community spread of the epidemic and prevent the epidemic from forming a large-scale epidemic or a large-scale epidemic rebound.

　　Relevant experts said that in the past three years, there have been more than 300 local epidemics caused by overseas imports in China, and these epidemics have been well controlled. Practice has proved that the general policy of "dynamic zero clearing" is scientific, and the prevention and control effect is remarkable, which is in line with the actual situation in China. At present, we must unswervingly adhere to it.

Special feature of 1905 film network After the recovery, the 2021 China movies have a fierce momentum. At present, the box office has exceeded 20 billion, and many films have been released in May 1st. Today, Xiaobian shares with you the only fantasy comedy from a female perspective. Female directors+double mistress, can be described as menacing!

The director is good at shooting women’s plays, and he can get everything. Director Li’s Sunshine Robber is adapted from the novel of the same name by Japanese writer Kotaro Isaka, which is the first time that Isaban’s novel appeared on the mainland screen.

　In the film, Sunshine runs a pet-seeking office, which helps people find lost pets. Xiaoxue (ornaments) came to the door and claimed that her daughter Nana, who lived alone, had been stolen. Unexpectedly, Nana is a five-year-old tiger, and it was stolen by a gang of vicious gangsters … … Although there is "looking for a tiger" as a joke, "Sunshine Robber" is actually about the process of mutual understanding and healing between two female characters. The setting is rare and special, the actors bring their own jokes, and there are rapper TT surprise guest appearances.

In the movie poster, the tiger is firmly in the C position. It is said that there is a tiger in the heart, sniffing roses. Director Li Yu said that this tiger is actually a metaphor. For example, love, friendship and even affection, when this thing is lost, this emotion is too fierce for you, just like a tiger. You want it back, and no one can stop it. Sniffing roses means that after coming back, we still have to feel what the world has brought us that is worth cherishing and hopeful, and then heal our wounds.

As director Li Yu’s best friend, Yang Nai-chen also mentioned in the program that in fact, this film is a sudden change compared with director Li Yu’s previous words, but the core things have not changed. They are all discussing how people should face the tear of life, how to face the vagaries of fate, how to face their own gains and losses, and how to form their own growth in the end. On the surface, the whole "Robber of the Sunshine" is a fantastic story with beautiful scenes and emotional interaction between women. But the essence is still talking about finding yourself, like a mirror.

According to the statistics of Cat’s Eye Professional Edition, 72.1% of the female audience want to see "Sunshine Robber" at present, and the audience aged 20 to 29 is over 60%. Director Li Yu thinks that this film can be used as a source of happiness for female audiences and help them find a way to get along with the world. Then to remain pure is to have an initial heart and cherish all the things you cherish now, including your friends and relatives around you. As Yang Tianzhen said, watching movies is actually a different way of life, which will be a great inspiration to you, and you will understand that when you lose it one day, you should go all out to protect what you want to protect.

Director’s observation:This programme focuses on director Li Yu’s new work "Sunshine Robber". This film changes Li Yu’s style of emotional tearing of literary women in the past, and tells the friendship story of two women in the way of family happiness and fairy tales. In the program, guest Yang Tianzhen talked about having known Li Yu for fifteen years. In the film, Song Jia, the heroine, is also an artist brought by Yang Tianzhen as an agent. Director Li Yu said that she felt very suitable when she saw Song Jia … … These friendships are linked in dreams, and the friendship of women helping each other is interpreted in and out of the play. Movies tell us that even in a complex society, we need pure and pure friendship and fairy tales. The program is introduced from the theme of the film, combined with the extension of emotional topics. Two guests answer the question of emotional divergence in the film, which is interactive and interesting, and it is worth seeing.

　　Beijing, Jan 22 (Xinhuanet) According to the website of the National Development and Reform Commission, according to the deployment of the CPC Central Committee and the State Council, local governments and relevant departments in the State Council actively carried out the cleaning and rectification of golf courses, earnestly implemented various cleaning and rectification measures, and conducted a comprehensive verification of the cleaning and rectification results. At present, the clean-up and rectification and comprehensive verification work have been completed, and the clean-up and rectification tasks such as banning, withdrawing, revoking and rectification have been basically put in place. There are 683 golf courses in China, and the results of clean-up and rectification are announced as follows.

　　First, ban the class stadium.A total of 111 stadiums across the country have been ordered to be banned, and their business activities have stopped. The land has been restored to its original state according to the plan, the characteristics of stadiums have been eliminated, illegal buildings have been demolished, and the responsibilities of relevant units and personnel have been investigated according to laws and regulations.

　　Second, quit the class stadium.A total of 18 stadiums in China have been ordered to withdraw, of which 17 stadiums have withdrawn from the land occupied by the relevant protected areas and restored to their original state according to the plan, and illegal construction projects have been dismantled or closed, eliminating the characteristics of the stadium, and one stadium is withdrawing as required.

　　Third, cancel the class stadium.A total of 47 stadiums in China have been ordered to be cancelled, all kinds of construction and business activities have been stopped, and the characteristics of stadiums have been eliminated according to the requirements of local governments and departments, and the responsibilities of relevant units and personnel have been investigated according to laws and regulations.

　　Fourth, rectify the stadium.A total of 507 stadiums across the country have been required to be rectified, of which 11 stadiums have been actively closed by local governments and enterprises, and the stadium project no longer exists; 496 stadiums have been rectified, and a small amount of cultivated land occupied in violation of the overall land use planning has been withdrawn, and the occupied natural forests and national public welfare forests have been withdrawn. After the land is rehabilitated and vegetation is restored, it will be returned to the original rural collective organizations or original farmers (operators). The pollutants discharged from the stadiums have reached the relevant environmental protection standards, eliminated the hidden dangers of flood control, tightened water-saving measures, standardized water intake behavior, and investigated the responsibilities of relevant units and personnel according to laws and regulations.

　　Attachment: National Golf Course Cleaning and Renovation Results

　　Responsible comrades of the National Development and Reform Commission answered reporters’ questions on the cleaning and rectification of golf courses.　

　　Recently, the relevant state ministries and local governments have made the results of golf course cleaning and rectification public. In this regard, the reporter interviewed the relevant responsible comrades of the National Development and Reform Commission.

　　Q: In recent years, the cleaning and renovation of golf courses carried out by the state has attracted the attention of the society. Please tell us about the background of cleaning and renovation.

　　A:In 2004, in order to rationally utilize and protect land and water resources and curb the blind construction of golf courses, the General Office of the State Council issued the Notice on Suspending the Construction of New Golf Courses (Guo Ban Fa [2004] No.1), requiring all localities and departments not to approve the construction of new golf courses. After the issuance of the Notice, the phenomenon of blindly building golf courses has been curbed. However, for a period of time, some enterprises ignored the requirements of the Notice and laws and regulations and still illegally built golf courses. In order to effectively strengthen supervision and management and resolutely stop the illegal construction of golf courses, with the consent of the State Council, in April 2011, the National Development and Reform Commission, the Ministry of Supervision, the Ministry of Land and Resources, the Ministry of Environmental Protection, the Ministry of Housing and Urban-Rural Development, the Ministry of Water Resources, the Ministry of Agriculture, the State Administration for Industry and Commerce, the General Administration of Sports, the State Forestry Administration, the National Tourism Administration and other departments jointly issued the Notice on Carrying out the Comprehensive Cleaning and Renovation of Golf Courses in China, and started the nationwide cleaning and rectification work. Since then, the CBRC has also participated in the clean-up and rectification work.

　　Q: What have various regions and departments mainly done since the clean-up and rectification work was carried out?

　　A:Since the clean-up and rectification work was carried out, all regions and departments have conscientiously implemented the decision-making arrangements of the CPC Central Committee and the State Council, thoroughly implemented the spirit of the eight central regulations, deepened their understanding from the height of safeguarding the authority of the central government and ensuring the smooth implementation of government decrees, and earnestly carried out the clean-up and rectification work.

　　The first is to improve the mechanism.It has gradually established a responsibility mechanism in which the governments of all provinces, autonomous regions and municipalities directly under the Central Government assume the main responsibility and the relevant departments of the State Council assume the supervisory responsibility, and established a coordination mechanism for clean-up and rectification work with the participation of the departments of development and reform, supervision, land, environmental protection, housing construction, water conservancy, agriculture, industry and commerce, sports, forestry, tourism and banking supervision.

　　The second is to file a file.All localities have established file materials and archival materials for each stadium to clarify the specific construction situation of each stadium and sort out the illegal and illegal problems of the stadium one by one; All the file materials and archival materials will be included in the scope of verification and review, and whether the clean-up and rectification are in place will be checked.

　　The third is classified processing.In accordance with the four types of opinions on banning, withdrawing, revoking and rectifying, all relevant departments around the country have earnestly carried out clean-up and rectification work, and checked the implementation of classified treatment opinions one by one; We will adopt a zero-tolerance attitude and ban all the stadiums that are newly built against the wind, refuse to stop work and conceal their reports during the clean-up and rectification period.

　　The fourth is comprehensive verification.Relevant departments of all localities jointly conducted a comprehensive verification of the classification and treatment of golf courses, which was first verified by relevant provincial departments and then reviewed by relevant state departments, and organized joint on-site inspections by ministries and commissions on many occasions to resolutely correct the problems of inadequate cleaning and rectification and scratching the ball.

　　Thanks to the joint efforts of all relevant departments, at present, all cleaning and remediation tasks have been basically completed, and the cleaning and remediation of golf courses nationwide has basically ended.

　　Q: Please tell us about the details of the four types of handling opinions, namely, banning, withdrawing, revoking and rectifying. What courses are targeted at and what are the handling requirements?

　　A:According to the relevant laws and regulations and the requirements of cleaning and rectification work, the problems existing in the construction of golf courses in China are divided into four categories: banning, withdrawing, canceling and rectification.The first category is banning,The scope mainly includes nine kinds of problem courses, one is a course that occupies a large amount of cultivated land in violation of land use planning and urban and rural planning, and the other is a course that occupies the core area or buffer area of nature reserves, the first-class and second-class protected areas of drinking water sources or the second-class and above protected areas of national scenic spots (including core scenic spots) after the issuance of the Notice of the General Office of the State Council on Suspension of New Golf Courses or the delineation of related protected areas. Third, there are serious violations of laws and regulations, such as fraud; fourth, there are courses that do not leave the occupied natural forests or national public welfare forests; fifth, there are courses that are built in river beaches, flood discharge areas, lakes and reservoir areas and cannot eliminate the hidden dangers of flood control; sixth, there is no alternative water source for water intake; seventh, there are courses that are banned by local governments; eighth, there are courses that are built against the wind and refuse to stop work during the cleaning and rectification work; and ninth, there are courses that cannot pass the water resource demonstration and there is no alternative water source for groundwater intake in the groundwater forbidden mining area. The requirements for banning are that the stadium must stop its business activities, the land should be restored to its original state according to the plan, the characteristics of the stadium should be eliminated, illegal buildings should be demolished, and the responsibilities of relevant units and personnel should be investigated according to the law and regulations.The second category is exit,The scope mainly includes the courses that started before the issuance of the Notice of the General Office of the State Council on Suspension of New Golf Courses, and the first-class and second-class protected areas of drinking water sources and the second-class and above protected areas of national scenic spots (including core scenic spots) after the construction of the courses. These courses did not occupy the drinking water source protected areas and scenic spots during the construction, but were classified into drinking water source protected areas and scenic spots after the completion, which did not meet the current regulations on the protection of drinking water source protected areas and scenic spots, so they should be withdrawn. For the stadiums that occupied the drinking water source protection zone in the early stage of cleaning up and rectification, and then the local government has adjusted the scope of the drinking water source protection zone according to law, and no longer violated the protection regulations of the drinking water source protection zone, and the stadiums that have withdrawn from the occupied drinking water source protection zone and the second-class and above national scenic spots (including core scenic spots), they shall be treated as rectification courses. The requirement of withdrawal is to withdraw the occupied land in the relevant protected areas, restore the original state according to the plan, and dismantle or close illegal construction projects in accordance with the system requirements of drinking water source protection areas and scenic spots, while taking relevant protection measures according to law, strengthening supervision, eliminating pollution and not destroying the scenic spots.The third category is revocation,The scope mainly includes three kinds of problem courses, one is the course with less workload that has not formed the actual course, the other is the course that has not been shut down according to the regulations, and the third is the course that has been investigated and dealt with by departments and localities according to law and ordered to shut down. The requirement for cancellation is that the stadium project must continue to stop construction and operation, and the relevant units and personnel should be held accountable according to the law and regulations.The fourth category is rectification,All the stadiums except those that are banned, withdrawn and revoked are included in the scope of rectification. The requirements for rectification are to withdraw the cultivated land that does not meet the overall land use planning and carry out rehabilitation, not to avoid rehabilitation by means of supplementary in different places, to withdraw the occupied natural forests and state-level public welfare forests, and to return the land to the original rural collective organizations or original farmers (operators) after rehabilitation and vegetation restoration. The pollutants discharged from the stadiums must meet relevant environmental protection standards, eliminate hidden dangers of flood control, strictly save water, and standardize water intake behavior.

　　Q: What is the result of this national golf course cleaning and rectification? How many courses are classified?

　　A:Through this clean-up and rectification work, we have mastered the construction of golf courses in China. At present, there are 683 golf courses in China. Except Tibet Autonomous Region, there are golf courses in all provinces (autonomous regions and municipalities), and there are many golf courses in Bohai Rim, Pearl River Delta, Yangtze River Delta and Hainan, Yunnan and other major tourist provinces. All the 683 golf courses in China have been cleaned up and rectified according to four categories: banning, withdrawing, revoking and rectification. Among them, 111 golf courses have been banned, 18 golf courses have been ordered to withdraw, 47 golf courses have been revoked, 11 golf courses have been closed by local governments and enterprises, and the remaining 496 golf courses have been rectified. The National Development and Reform Commission has jointly announced the results of cleaning up and rectification of national golf courses with relevant departments in the State Council and local people’s governments. You can go to relevant websites.

　　Q: What achievements have been made through the national golf course cleaning and rectification work?

　　A:Through the joint efforts of various regions and departments, the task of cleaning and renovating golf courses in China has basically been completed, and the cleaning and renovating work has basically ended. To sum up, it has achieved three main results.First, it stopped the wind of illegal and indiscriminate construction of stadiums.Since the clean-up and rectification work was carried out, all the stadiums under construction have been stopped, and all the stadiums to be started have also been stopped. The state has always maintained a high-handed attitude towards golf courses that were newly built against the wind, refused to stop work, and concealed and failed to report during the clean-up and rectification period. It was found that the wind of illegal and indiscriminate construction of golf courses was obviously curbed, and the behavior of newly built golf courses against the wind was basically eliminated.The second is to correct all kinds of illegal construction behaviors.After the clean-up and rectification work, all kinds of golf courses in China no longer occupy cultivated land, natural forests and national public welfare forest land, and no longer occupy the core area or buffer area of nature reserves, the first-class and second-class protected areas of drinking water sources, and the second-class and above protected areas of national scenic spots (including core scenic spots). The pollutants discharged by golf courses have reached relevant environmental protection standards, eliminated hidden dangers of flood control, tightened water-saving measures, standardized water intake behavior, and effectively corrected all kinds of illegal behaviors.The third is to seriously investigate the responsibility.According to the violations of laws and regulations in the stadium, all localities have seriously investigated the responsibilities of relevant units and personnel, and given disciplinary and political sanctions to the responsible personnel. At the same time, the clues to the problems of building a new stadium against the wind, refusing to stop work, and concealing the behavior of the stadium since the clean-up and rectification work was carried out, especially since the 18th National Congress of the Communist Party of China, were handed over to the Central Commission for Discipline Inspection for "double investigation of one case", and the responsibility of the relevant party member cadres was seriously investigated.

　　Q: Through this clean-up and rectification work, the problems of existing golf courses have been standardized and solved. How to supervise and manage the construction of golf courses in the future?

　　A:In the future, the supervision of golf course construction should follow the mechanism of departmental supervision and local responsibility, and continue to strictly implement the Notice of the General Office of the State Council on Suspending the Construction of New Golf Courses (Guo Ban Fa [2004] No.1) and the requirements of relevant laws and regulations. All relevant departments in the State Council should fulfill their supervisory responsibilities according to their functions, and make overall use of satellite remote sensing monitoring and daily inspections to improve the supervision system. Local governments at all levels should give full play to their management responsibilities, forbid the construction of new stadiums, strictly regulate the management and operation of stadiums, and monitor the environmental protection, water saving and water intake of stadiums according to law. In the future, it is found that golf courses newly built and illegally expanded against the wind should follow the attitude of "zero tolerance", and all localities should resolutely investigate both cases, all courses should be banned, and the regulatory responsibility should be seriously investigated. We also welcome all sectors of society to play a good supervisory role.

　　[Doing Five Great Articles to Promote High-quality Financial Development]

　　Author: Dong Zhi (Vice President of Peking University, Dean of School of Economics)

　　The Central Financial Work Conference held a few days ago put forward that "finance should provide high-quality services for economic and social development" and "do five major articles on technology and finance, green finance, inclusive finance, pension finance and digital finance", which pointed out the direction for China’s financial services to the real economy. As the first of the "Five Great Articles", doing a good job in technology and finance’s great article not only shows that the Party and the country attach great importance to scientific and technological innovation, but also shows that science and technology, as the primary productive force, plays an important role in economic and social development, and it also shows that technology and finance plays an important role in promoting high-level scientific and technological self-reliance.

　　1 fully understand the significance of doing a good job in technology and finance’s great articles.

　　Technology and finance refers to a series of financial activities of scientific and technological innovation in financial services and the development of scientific and technological enterprises. It is the product of deep integration of scientific and technological innovation and financial innovation, involving financial system, financial policy, financial model, financial products and other aspects. Doing a good job in technology and finance’s great article is an inherent requirement for China to enter a new stage of development, implement new development concepts, and build a new development pattern. It is also the need for finance to achieve high-quality development and achieve the goal of becoming a financial power.

　　Lay a solid foundation for realizing a strong country through science and technology. Innovation is the first driving force to lead development, and finance is the blood of the development of the real economy. On the one hand, technology and finance has expanded the financing channels of scientific and technological innovative enterprises, reduced the risk of financial exclusion of scientific and technological innovative enterprises, and effectively improved their scientific and technological innovation capabilities. Flexible and diversified financing methods are particularly obvious in supporting long-term and difficult scientific and technological innovation; On the other hand, technology and finance can provide innovative financing incentives for enterprises, cultivate their innovative consciousness in the field of actual production and service, promote the transformation of old and new kinetic energy, optimize the structure of the real economy and improve the overall economic benefits.

　　Inject strong impetus into building a financial power. The development of technology and finance can promote the formation of the innovation ecosystem of the real economy and the financial industry at the same time, which not only provides a more favorable environment for scientific and technological innovation, but also provides a platform for orderly competition in the financial industry. Through diversified financing methods, technology and finance provides full-chain, full-life financial services for science and technology enterprises, which not only promotes scientific and technological enterprises to carry out R&D innovation activities and transform scientific and technological achievements, but also reduces the tendency of funds to be divorced from reality. In addition, the development of technology and finance has also built a platform for financial institutions to achieve innovative competitive development. Excellent technology and finance institutions should be able to quickly and effectively identify science and technology-based enterprises with technology transformation capability and market potential, and also provide multi-level services in finance, operation, R&D and even industrial chain integration.

　　Provide a strong guarantee for independent development. At present, the world’s great changes in the past century have accelerated its evolution, a new round of scientific and technological revolution and industrial transformation has developed in depth, and the international power has been profoundly adjusted. Major countries have regarded scientific and technological innovation as the main battlefield of the international strategic game, and the competition around the commanding heights of scientific and technological innovation has been unprecedentedly fierce. China’s development has also entered a period in which strategic opportunities and risk challenges coexist and uncertain and unpredictable factors increase. The sound development of technology and finance can effectively help independent research and development, ensure the stability and security of China’s industrial chain and supply chain, accelerate the deployment of innovation chain around the industrial chain, and escort the self-reliance and self-improvement of science and technology.

　　2 The current development trend of technology and finance in China

　　In recent years, China’s high-tech industry has developed vigorously. By the end of the third quarter of 2023, China had cultivated 103,000 specialized and innovative small and medium-sized enterprises, and 178 national high-tech industrial development zones achieved a total industrial output value of 23.5 trillion yuan. The proportion of high-tech industries has been expanding, and high-tech manufacturing has accounted for 15.3% of the added value of industrial enterprises above designated size. How to use financial services to boost the development of high-tech industries and optimize the national economic structure has become a key issue that macro-economy must answer to achieve high-quality development. In this context, China attaches great importance to the construction of technology and finance system, actively promotes the deep integration of finance and science and technology, and gives full play to the synergistic role of market and government in the development of technology and finance. It has not only initially established a diversified service system in technology and finance, including venture capital, stock market, bond market and bank credit, but also formed a market-oriented support system represented by government-guided funds to promote the development of technology and finance. technology and finance’s development has achieved remarkable results.

　　By the end of June 2023, the management scale of venture capital and private equity investment funds in China was nearly 14 trillion yuan, and hard technology enterprises became the hot target of equity investment. Science and technology innovation board injected a strong impetus into the development of science and technology enterprises, successfully promoted more than 500 enterprises to realize IPO, and raised nearly one trillion yuan; Beijing Stock Exchange strives to promote the formation of a full-chain service system to support the innovation and development of small and medium-sized enterprises, and has become the main position to build innovative small and medium-sized enterprises with services. Among them, more than 80 enterprises have been selected into the national list of "Little Giant" enterprises with specialization and innovation, and over 80% of the companies have been selected into the list of provincial and municipal enterprises with specialization and innovation. In addition to equity financing, technology and finance’s related debt financing has also increased significantly, with the balance of Kechuang bills and Kechuang corporate bonds of about 450 billion yuan, and the balance of medium and long-term loans for high-tech manufacturing, loans for small and medium-sized science and technology enterprises and loans for "specialized and innovative" enterprises of 2.5 trillion yuan, 2.36 trillion yuan and 2.72 trillion yuan respectively, maintaining a growth rate of over 20% for many years. In addition, in order to effectively solve the information asymmetry between science and technology enterprises and financial institutions and the financing difficulties of science and technology enterprises, since 2020, the Torch Center of the Ministry of Science and Technology has launched an enterprise innovation point system to "portrait" the innovation ability of enterprises through the form of innovation points, identify and discover science and technology enterprises with strong innovation ability and great growth potential, and encourage financial institutions to provide credit support in combination with scientific and technological innovation evaluation.Guide local governments to open up direct channels for fiscal, taxation, science and education, industry, finance and other policy resources to support enterprise innovation.

　　With the rapid ecological progress in technology and finance, China, the government-guided fund has played an important role in promoting scientific and technological innovation and promoting the structural reform of the financial supply side. By the third quarter of 2023, governments at all levels had set up 1,557 government guidance funds, with a management scale of nearly 3 trillion yuan. The investment field focused on cutting-edge technology, of which funds led by strategic emerging industries accounted for 50%, which played an increasingly prominent role in promoting scientific and technological progress and promoting regional development.

　　3 to cope with the challenges facing the development of technology and finance.

　　To do a good job of technology and finance’s great article needs to be rooted in the national conditions. We should not only understand the inherent characteristics of finance, but also grasp the development law of scientific and technological innovation, and rationally treat the difficulties and challenges faced by technology and finance in its development process.

　　First of all, based on the current situation of China’s financial development, we must explore the road of high-quality development in technology and finance by promoting the mutual complement of direct financing and indirect financing, and uniting multi-channels to support scientific and technological innovation. China’s financing structure has been dominated by indirect financing for a long time, and credit assets account for more than half of the total financial assets. However, scientific and technological innovation, especially some frontier scientific and technological innovation projects, often involve a lot of investment, a long period of time and high risks, and there is great uncertainty in research and development results, so it is difficult for indirect financing to meet the demands of scientific and technological innovation enterprises for capital and financial risk management at the same time. Indirect financing takes creditors’ fixed interest income as economic incentive, and lacks innovative benefit sharing mechanism, and financial institutions providing indirect financial services also lack the motivation to share innovative risks. The intrinsic value of science and technology enterprises is more reflected in the intangible assets formed by innovation, such as technological advantages, patents, intellectual property rights, etc. It is more difficult to evaluate their assets, and they often do not have the conditions to obtain financing through mortgage loans of tangible assets. However, the financing demand for technology transformation is expanding rapidly, which will lead enterprises to face the problems of financing difficulties, expensive financing and slow financing.

　　Secondly, the development of technology and finance not only needs financial institutions to closely contact professional scientific research institutions, but also needs the government to fill the weak links in the system from the aspects of rule of law, finance and taxation, scientific research, credit and talents, and improve the support and guarantee for the development of technology and finance. Financial services must weigh the benefits and risks, but technological innovation itself has great risks. Scientific and technological innovation not only faces a long innovation chain and transformation chain, but also faces the increasing change of science and technology, and the innovation results may be born behind. Moreover, the complexity of scientific and technological innovation leads to the prominent problem of information asymmetry between science and technology-based enterprises and financial institutions. It is often difficult for financial institutions and even government departments to effectively assess the technological risks of science and technology-based enterprises, and it is easy to cause institutional arbitrage due to information asymmetry, which ultimately affects the accuracy of technology and finance’s services.

　　Finally, the development of technology and finance urgently needs to strengthen the overall planning and policy coordination, and the relevant regulatory authorities need to rationally and objectively look at and steadily promote the development of technology and finance. First, in recent years, the state has issued a series of policies to support scientific and technological innovation and the development of technology and finance, but the policy support system is not accurate enough, which leads to difficulties in policy implementation, which not only increases the burden of government expenditure, but also distorts reasonable innovation incentives. Second, when large-scale scientific and technological innovation enterprises become the service targets of the financial industry, the inherent R&D risks of scientific and technological innovation will also be transformed into financial risks. At the moment when the development trend of interdisciplinary and cross-border infiltration is more obvious, the scientific research organization model of division and governance cannot be rapidly transformed, which will also increase the backward risks of related scientific and technological innovations.

　　4 Identify the path of action to promote the development of technology and finance.

　　To effectively guide the financial industry to serve China’s scientific and technological innovation, we should not only co-ordinate the overall situation at home and abroad, make full use of the domestic and international markets and resources, but also co-ordinate the two major events of development and security, prevent the risks brought by technology and finance while promoting the high-quality development of technology and finance, and effectively identify the right path of action.

　　First, improve relevant institutional mechanisms and establish a diversified technology and finance system. A perfect multi-level capital market is the market foundation for technology and finance’s high-quality development. We should further improve the listing and trading systems of GEM, science and technology innovation board and Beijiao Stock Exchange, as well as the listing and trading systems of the New Third Board and regional equity markets, so as to provide more financing channels for scientific and technological innovation enterprises. Guide and support all kinds of financial institutions to carry out technology and finance services, encourage financial institutions to innovate financial products and services, guide and support equity investment institutions to carry out scientific and technological investment business, meet the financing needs of different types of scientific and technological innovation at different stages, and provide more financial support for scientific and technological innovation enterprises. The government should increase the research and investment in scientific and technological innovation, keep up with the cutting-edge scientific and technological direction, and work with the market to screen out scientific and technological innovation tracks with technical and market potential. Increase the input of government guidance fund in a timely manner to improve its guidance effect and leverage. The healthy development of government-guided funds can not be separated from a perfect exit mechanism. We should design a reasonable income distribution scheme on the basis of improving investment decision-making ability to ensure that government-guided funds can achieve their own sustainable development while supporting scientific and technological innovation and industrial upgrading.

　　Second, promote the deep integration of technological innovation and financial innovation, and realize the coordinated development of technology and finance. On the one hand, adapt to the financial needs of technological innovation and promote technological innovation with financial innovation. The financial system should provide all-round financial services for technological innovation, encourage traditional financial institutions to innovate financial products and services, and support financial institutions to cooperate with technological innovation enterprises to jointly develop innovative financial products and services. On the other hand, accelerate the financial sector to embrace cutting-edge technology and empower financial services with technological innovation. Financial institutions accelerate digital transformation and adopt advanced scientific and technological means, which can improve the efficiency of financial services and provide broader development space for scientific and technological innovation, and use financial and technological means such as data credit enhancement, corporate portrait and technical patent evaluation to broaden financing channels for scientific and technological enterprises.

　　Third, enhance the support and guarantee capacity of technology and finance’s policies and improve the supporting system of technology and finance’s development. In terms of basic guarantee, the foundation of technology and finance’s high-quality development lies in the continuous improvement of relevant supporting infrastructure systems, including technology and finance information platform, science and technology patent database and technology and finance service platform, so as to provide necessary technical support and infrastructure guarantee for the development of technology and finance. Among them, the construction of technology and finance-related credit information system is the key. We should focus on establishing a perfect credit system in technology and finance, including the credit information publicity system of scientific and technological enterprises and the basic database of personal credit information, actively promote the sharing of credit information among financial institutions, credit reporting agencies and public institutions, break down the information barriers, and jointly provide more comprehensive and accurate credit information support for technology and finance. The government pays attention to providing a series of support policies, such as financial support, tax incentives and credit support, to increase the training and introduction of talents in technology and finance.

　　Fourth, improve the level of risk management and supervision in technology and finance to ensure the healthy and sustainable development of technology and finance. First, strengthen the risk management capabilities of financial institutions. Financial institutions should not only adapt to the development trend of technology and finance, clarify the risk management objectives and strategies, strengthen risk identification, evaluation and control, and ensure that the business risks in technology and finance can be controlled, but also strengthen the monitoring and early warning of the business in technology and finance, so as to find and deal with potential risks in time and prevent the risk from spreading and spreading while accelerating the construction of the risk firewall system. Actively promote the application of scientific and technological innovation in risk management, empower the development of technology and finance with financial scientific and technological innovation, and improve the efficiency and accuracy of risk management. Secondly, increase support for science and technology insurance and guarantee, encourage and support insurance companies and guarantee institutions to carry out science and technology insurance and guarantee business, and provide risk protection for science and technology innovation enterprises. Finally, constantly improve the supervision system in technology and finance, establish supervision rules and standards suitable for the development of technology and finance, ensure the effectiveness and fairness of supervision, coordinate development and safety, and form a joint force of government guidance, market operation and social participation to jointly promote the healthy and sustainable development of technology and finance.

　　Guangming Daily (11th edition, December 19th, 2023)