Saturday, November 19, 2016

Ma Qinghua speech Word memoir: success depends on emotional intelligence, undefeated on IQ

Author: Ma
Source: MIC Ying (ID:yingchuangcn)

The afternoon of October 20, Alibaba's Jack Ma, Chairman of the Board of Directors as a member of the Advisory Board of the school of Economics and management, Tsinghua University, entered the EMBA class of Tsinghua University, published a document entitled "entrepreneurship and the future" speech. Finishing MA on the speeches to readers.

Hello everyone! I think there is a job I never forget, I am a teacher who is normal, taught at the University for six years, and start when I have never lost a thing, and that is when the teacher, I may have spent a lot of time, more time than any other CEO, outside exchanges, lectures, chat.

Might not be such a high profile person like me all over the about, this is an occupational hazard. Because the teacher is a very important duty to share, a lot of knowledge is not a teacher, but you have to share. In the six years I taught at the University, including teacher for three years, and experience as a teacher, helped me a lot.

Most important, I learned two things a teacher. First, the teacher always want students to exceed their own, this quality is when a CEO must have quality. The teachers hope the students when the boss in the world, the student to become a banker, the student became a County, when the Secretary of the student when the best scientists. So the teacher the best product is that students, students as possible, teachers will be better.

This is the first thing I learned as a teacher for so many years, with my whole life. I really start in 1995, and that year I got out of College, but as a teacher I always an occupational disease of, I wish to join the staff of Alibaba everyone beyond me, everybody beyond their own, this is a secret thing.

Second, the teacher is very important responsibility is the sharing of experience, whatever people want to hear don't listen, do you want to know what you want to share with you. Even though I do not know, a professional thing, I also get to share. Teachers have to learn along the way. Entrepreneurs in China, I should be top ten. Since the start, I did not go back to the University seriously sat down and listened to a month of classes, but I ran a lot of countries, a lot of companies.

Bill Gates, Warren Buffett, as long as it is alive today in the world of those bosses, entrepreneurs, politicians, I have had the opportunity, I would like to, because it is a learning, not only sitting inside the campus is. I don't really do much, I admit. But I never said to read useless.



A man to success, EQ; a person or lost, by intelligence. Successful sometimes you EQ is high, get one, get a chance, maybe you're on the up and up. But if you don't lose, must rely on IQ, IQ is that you have to keep learning.

People with low IQs, no one will follow you do; people with low emotional intelligence, there is no way to manage a group of people with high IQS. People with high IQS are sometimes hard to pipe, how do you use EQ? The EQ is not fighting with people.

A boss to succeed, the vast majority to three, the first emotional intelligence (EQ), the second intelligence quotient (IQ), besides these two, there is a love, of love. If you do not have in the future, society, in the future, people have a love, real talent won't follow you. The three companies together, you can be a leader.

As a teacher I feel important than my other identities. You see all kinds of teacher, teacher's success is often from students who have learned a lot of things. I used to think I could talk to other entrepreneurs difference is that I like to see when people, not when people read books. Some of the books I read the first page, previous page, I know the back story, you are able to feel a man's realm, a realm of the book. Some books are to me one day and throw it away, some books I might like Lao Zi's daodejing, the Confucian Analects, I could see ten years I'm free not free watch, just dozens of characters, I could see three or four months and still see this thing over and over again, because it is slowly to understand.



Recently we are talking about cultural self-confidence, cultural confidence it is important that, confidence is based on understanding and respect for other cultures. Last month I was in the United States a very famous institution in New York talks, I am a Chinese, and they came up to me and all executives called for dialogue, everyone raised a question, conflicts between the two countries, conflict between the Eastern and Western cultures. I hear they are criticizing China this is not right the wrong, I said: "China is based on the culture of Confucianism, Buddhism and Taoism, everyone is criticizing China, among the more than 20 foreigners, who have read Laozi's daodejing? Alternatively, Confucius is known to all of you, has anyone seen an article the Analects? Did anyone ever see a review of our Scriptures? "These foreigners are saying" no ". At that time, I told them, I've seen five times in the Bible. Although I've never been in the United States had read one book, but I was learning English at the University, I think of the Bible as textbook in English. Our powerful foreigners did not experience of Buddhism and Taoism culture. On another culture does not understand, you have no right to criticize.

Almost every State enterprise, as long as the enterprises, there are strong cultural background. Culture is rooted in religion, faith is about. What is China? Chinese companies today, we certainly can learn Japan, and Korea, Europe and America. Family is the Foundation of Europe, this system is a basic Christian culture. Israel enterprise has its own culture, Japan also has its own culture, from many years ago I began to feel that if Ali's day wish to succeed, we need culture find their roots in China.

So I'll listen to the Taoist say, makes sense, do nothing, "doing nothing" what does it mean? You know there? Everyone's story is different. As I understand it, doing nothing, is what you know nothing about. People think through, no matter how cattle, 80, 90 years old, to place different, as elsewhere, is the crematorium, people die, why so hard? Enterprise, too, from the first day you want to put off closing the day, but still happy to live each day. Taoism always pay attention to harmony, the harmony with nature.

On the enterprise, a lot of people studying MBA. All these years, I think the MBA is a great thing, I think the MBA system very well. But don't think MBA will be able to do business. In addition, the MBA said too many success stories, I think businesses should learn from failure, because business as war. Shopping malls was no drill, rushed out and say me again please? No, like bankruptcy is bankruptcy. Business people are smart people, so many clever boss down, why don't you fall down?

I visited many veterans, veterans is very interesting, will tell you that you need to know where the cold play, where there are mines, you know, save themselves in order to stay alive. Similarly, we must learn lessons from other companies failed, but do not defy, MBA, MBA all aspects of your corporate strategy is clear, this is a tool, but you do not think that there is a tool you can succeed.

Confucianism in China is the best. Confucian social management system, said people live in harmony with society, it can learn a lot of cattle management. What is real management? Management is human nature, we have strategy meetings these days, technology is so far away for me, don't ask me technical questions. But the understanding of human nature, and grasp of the future social trends, which you can learn.

Buddhist ideas about man and worked closely with, and you can learn many things Buddhist. You do a certain amount of time, no Buddhist thought, too. If your competition is not Taoism, there is no chance of winning. If the company grows to a certain level, you don't know how Confucianism organization system, you have no chance to be sustainable. When you want to go global, of course, if you do not understand Christianity culture, you do not understand Islamic culture, you can't go all over the world.



I think business is a learning process, if you do not know your employees, your business cannot have innovation. If you do not know your competition, your business will never grow up. Taoist speak invincible, unmatched in the world, is not a real lack of respect for the opponent, but genuine respect for the opponent to know my opponent in the higher. If this State, your business will do different. When I want to if you meet the competition, think of two, first, Taoism is the competition is fun, thought of Tai Chi is the first in the world. Western thought, Christianity is between black and white. Taoist thought of combination between black and white, I can tell you, entrepreneurs do business if you go out and meet competition, the anger is particularly large, can't wait to put competitors in the toilet, and you do not longer. Because opponents everywhere, dead, but also out of a, you will become a professional killer, you can't be a big deal.

We are in the process of competition you want to think about is that opponents have to respect him, anger of battle, the real fight will not be angry. Why computers are more than human? Computer did not taste, sometimes I play, I play, I must find a bad person than me, is fun. If the pain of being killed, why. So the real master of the battle no fun, I get angry is finally up, down and cut off by him, I will be angry and will lose. Also, if you send the employee's temper, even hated on competitors, your business does not. Who is your opponent, small enterprises can opponent, opponent, opponents of big, countries have national rivals, times are times of an opponent, if the competition process, you are more and more pain, opponents more and more happy, you made a mistake. Opponents increasingly painful, you should have more and more happy, that's right. Competition we are going to think about, if you worry about the competition just don't do business, fear of failure do not do business. Who can guarantee that you won't fail? You have to worry about dead not alive.

To maintain a good attitude, Ali down for so many years, our help is important to keep a good attitude. No matter what other people provoke us, we try not to be angry. No matter how chaotic market, and in the confusion when we cool, calm on the outside, when we got confused. This is a complete attitude adjustment strategy, so I want us to be the most important is to learn the business culture, learning organizations, learning Confucian organize themselves to meet the social, Taoist say fit the entire natural environment, how did Buddhism people unify their actions and behaviors. When enterprises, more trouble. How do you is wrong, what can you do? See also good. Minimizers knows, of course, I don't know about you, I learned English, when I was listening to foreigner Sutra, I know, some people, but I do not understand, trick too much. I also went to the temple, I worship the Buddha, Taoist, I think that is also very good, Confucius is also good, into the Church, I, too, they are smarter than we are, you can learn a lot from everyone.

Between the Chinese and Western, Christian culture is very great, the Bible is the world's greatest best seller, Buddhist scriptures and few people understand, it's not a best-seller, it depends on your own enlightenment, enlightenment is in trouble. Buddha hands, some people see, other people's lack of understanding, thinking is completely different. Wu also makes us realized the essence, Wu also made it hard for our Eastern culture of global communication. In this regard, truly realized Masters was very high, but most people are listening and understand, each story has a corresponding. I hope we in here, every business person you are dealing with is a huge market, huge competition, you are dealing with your staff, you are dealing with a customer, you are dealing with shareholders, you are dealing with government regulations, you are dealing with all sorts of unpredictable future. So if you don't have a good attitude, without a strong inner culture, know what you want, give up anything, everybody knows what, what you want, you have to give up anything, you can't do business. Companies such as people, companies want to know, what are you, the most important thing is what you give up, didn't want to know what I'm giving up who don't know what they insisted, Enterprise, too. Companies often is that I can do this, anyone can do this, the question is do you, not something you can do, but what to do. These problems, these thoughts are from the cultural accumulation.

Told this, I want to talk about some of the future, interested in my ideas for the future. As I said earlier, MBA is the accumulation of knowledge, without any knowledge, if you want to, without fail, we have to rely on knowledge, if you want to succeed, perhaps emotional intelligence work. But in the future, you know I am quite big views, an economist. I respect the economics, but I don't respect many economists today. I talk to many economists talking, I couldn't understand what they were saying, as spoken by many economists as a talk-show, economists study, based on data to study the laws of yesterday, for future reference in decision making. First, our data is sorely lacking in China and, secondly, these economists are studying people, learning, he said a lot of things really do not quite understand. Nonsense on TV today, yesterday, another person and who is a completely different perspective of the future, economists are studying yesterday, chunjiang plumbing duck Prophet, entrepreneurs are judgments about the future, we must judge for the future.

I hope that the entrepreneur must make judgments about the future. I can tell you is that today's era is the third technological revolution in human history, people here is much more than we can imagine. The revolution for the first time, the industrial revolution as we all know, after the industrial revolution, the social impact than you can imagine, coal became the primary's kinetic energy. Person's physical strength, human capacity, the original people than anything the machine, the machine came out of, who basically gave up, and power than machines. Direct results are caused by the first world war, the balance of power has changed. The second revolution, energy revolution, oil has become the main source of energy, and directly the result of the second world war. This technological revolution was head of release is the release of wisdom is the knowledge of the release, is the brain's Liberation.

After each technological revolution, humans often are not prepared. For example when revolution comes for the first time, car out when first angry was Coachman, cars must be smashed or hit it, they don't eat, Coachman was white-collar technical then, suddenly the car came, there was no Coachman. Coachman to the protest by the Government, blame cars damaged their employment, finally, Europe had been a legal, cars are not allowed on the road. Why? Many jobs are canceled.

When I was a kid, then repairing shoes, but technical, tailor skill, my Dad can't buy a pair of shoes a month's wages, of course. Results to a revolution in line, none of these live. I can tell you over the next 30 years the world today lots of technical stuff is gone, when mankind since the invention of the machine, to understand machine than you were in strength. When humans invented trains, planes, men must know I run it. Computers ever invented by man that day, people must know computers must be smarter than you, or you find it does. But I can tell you one thing, the computer will become more and more clever, computers will make the machine into a man. Into the machine during the past 20 years, the next twenty or thirty years, we turned the machine into a human, the machine will become more and more clever. Machine beat man can solve the problem, but you lose a little confidence, machine man to do things, to solve problems that people, this is a real Bull. Twenty or thirty years later, we remember that machines are just tools we yesterday, machines will become partners in the future. Must have to judge in the future, you must know I will change the industry.

Many people hate the Internet, destroying the traditional machines, right? This is lack of vision is backward thinking, is the Coachman thought, thought it destroyed me. How can you hate are, this is a revolution. And tell you the car has started, any technological revolution should be 50 years, for more than 20 years earlier, must be a purely technical company of agonizing, the next 30 years is the use of technology in all aspects of society. Internet until now exactly 20 years from top to bottom, regardless of Facebook or Google, Tencent or Ali or toss to toss, and key in the next 30 years. If these companies are not involved in social change, unable to participate in helping more businesses and people moved to the net, move to the next age of data, they will die. Not won a battle but lost the war. Enterprise of the future 30 years 90% not the same data over the next 30 years will become the most powerful sources of energy, most people not ready for change, including university education will change dramatically.



I just look at Tsinghua University information quite interesting, Qinghua was very farsighted, have begun Internet education. University education in the future, if you continue to teach knowledge, which also have to teach, but the machines than you don't know how many times, machines are not angry, not taste, not afraid of starving, plugged, dead stem. You see it again, our top go player can think 20 steps, has a top, machine man 20,000 steps are OK, you have no temper. So you have to spell knowledge, the future can be difficult, the future of universities should pay more attention to the cultivation of creativity and imagination. But today many universities with creativity and imagination? Because humans and machines to spell knowledge, I give up, it means that you are going to train faster than the who, who can run far with aircraft. But the next race is in man and machine intelligence, mission, values above.

School to learn what concept? Learning and education are two different words "teach" teaching is knowledge, "and" sterile culture. The difference between man and machine, not much difference between the knowledge of the future, but cultural differences can be big. If the future of our children do not spend more time in the culture, poetry, culture is cultivated, not on this effort, finished. You become depressed, even the machine but it must be thinking about this for our future generations, we must strengthen the "education" section. China's poor education, poor teachers in China do not, what poor teachers in China? Our worst secondary school students in the United States are good students, and future computer back faster, is faster than you. "Teaching" our poor, "and" poor "and" worse, makes us more and more from the world, the world would be very cold.

There are learning and learning the concepts, "learning" you learn, why do so many college students to the company, really takes a lot of time he changed again, because they do not have "custom". "Acquisition" is made errors, "acquisition" is a imagination, "acquisition" is a culture, so education, and learning is two concept, "Yu" and "acquisition" is on culture for of, "taught" and "learn" is on knowledge structure for of, from primary school, and middle school, and University of education, future 30 years is learning capacity of competition, is innovation capacity of competition. MBA also want to think about it, all the things that humans can write clearly, the machines can do it better than you.

Business is a science, but also an art. If not combined between the two, you're in big trouble. Here are some of my views, so I want everybody to think about the future of the enterprise, certainly not of the industrial age standardization and scale, the enterprise of the future must be the era of personalization and customization of data. Spell future enterprise must be the capacity for innovation, and innovation capabilities, knowledge is important, but culture becomes more important. If you think that the future doesn't work, is your imagination is not enough, if you think that the future is like this, imagination is not enough. So how do MBA, business how you choose to lay for the next 30 years, many trades in the next 30 years will change dramatically.

Everyone think about his career, everyone to think about their own future, everyone would like to think that my own children, redesign, this is not alarmist talk. This is a challenge, and this is an opportunity. Opportunity is the key to how do you change yourself. This will really affect, and faster and faster, faster back twenty or thirty years, will accelerate until 50 years later, the world start again. Is the change in the pattern of the world yesterday blink will become weak, when the Qing dynasty was a bull, United Kingdom is nothing! Inverted, United Kingdom not seated stools, United States strong. Now the situation has changed again, and this is what I want to stress to everyone, and not raising alarmist talk is taking place, and faster and faster.

Central Bank to enlarge! Notes to disappear in your hands?

Not long ago, yuehan·kelaien, Chief Executive at Deutsche Bank predicted in Davos, said: "ten years cash will probably do not exist. "The recent news of the people's Bank of China to set up digital currency Institute has further triggered a heated debate.

Our notes have disappeared, please? Issue digital money will have an impact on our lives?



Central Bank broke big news, notes could disappear in the future?

Unit directly under Central Bank Central Bank official website recently in 2017-recruitment jobs information table is displayed, people's Bank of China Institute of printing science plans to hire this year 6 have master's or doctoral degree digital currency of professional research and development work, once again aroused the concern of members about the China study on digital currency.


• Central Bank website screenshots


• Position information table screenshot

Head of the preparatory group for the people's Bank of China Institute of digital currency Yao Qian recently said Central Bank official prototype has completed two rounds of revision of digital currency, future in the paper market is relatively closed scenarios, such as pioneering.

Yao Qian said, the Central Bank issued digital currencies mainly replace physical cash, reduce the cost of traditional notes issue, circulation, improve convenience and transparency in economic transactions.

In fact, the Central Bank of digital money is already beginning.

According to earlier media reports, head of the preparatory group for the people's Bank of China Institute of digital currency Yao Qian said that from 2014 on the establishment of the people's Bank to issue legal Digital specializes in group currency, prospective study of digital currency-related issues, and demonstrates the Central Bank the legal feasibility of digital currency.

2015 and full power, on digital currency issued and business run framework, and digital currency of key technology, and digital currency issued circulation environment, and digital currency faced of legal problem, and digital currency on economic financial system of effect, and statutory digital currency and private issued digital currency of relationship, and international Shang digital currency of issued experience, further in-depth research, formed has people Bank issued digital currency of series research report, Bank issued statutory digital currency of prototype programme has completed two round amendment.

On January 20 this year, the Central Bank held the seminar on digital currency and further the strategic goals of digital currency issued by the Central Bank, pointed out that central banks digital currencies team will actively research the key technology of digital cash, digital currencies and strive for an early introduction of digital currency issued by the Central Bank.



However, China has a large population, large volumes and replace it with a version of notes, small country several months to be completed, China will take about ten years. In the longer term, coexistence of digital currency and the money will flow. For ordinary people, to the Bank to withdraw money in the future, you can either choose to exchange real cash, you can also choose to Exchange digital currency.

What is digital currency?

Everyone in everyday life come into contact with UnionPay, Alipay, micro-payments, POS terminals, and other forms of payment, in fact, is not what we mean by digital currency.

First of all, digital currency is based on the real currency in China is not a currency out of thin air, but in a different form, the two, the former is the electronic data, which was RMB banknotes.

Second, digital currency in China is a kind of digital network technologies to create electronic money, it also has the main features of network packets.

Packet consists of data traveling across the network code and the identification code consisting of two parts, code is that we need to send the contents of the data, while the identification codes specified in the where the packet came from, where properties such as, in order to achieve orderly transfer digital packets in the network. Accordingly, digital currencies also have these two features, Yuan is a record number of electronic data, a control code is its circulation, control codes, you can achieve what we want to achieve a great deal of functionality.

Characteristics of digital currency in China

1, digital currency in China is the result of combining traditional monetary and Internet, is money in the field of Internet +.

2, digital currency, China is by far the world's only a State-issued digital cash, with coins and other digital currencies do not have national credit and monetary anchor.

3, digital currency, China can learn from the block chain network new technologies to enhance their security and stability. Block chain is also a network topological structure, reducing the central tasks for the server, and has security features.

4, China digital money depend on the security and stability of the Internet, quantum communications technology used on China's digital currency security significance.

Digital currency and payment card, micro-payments, what's the difference?

Electronic payment methods such as PayPal, transaction is through bank accounts and used the money to, that is to say money from PayPal was actually corresponds to a note, and digital cash is money. In the actual experience of digital currency and electronic payment methods like, but essentially still have large differences between the two.

In addition, digital currencies and virtual currencies are different. Such as the well-known Q coin and various types of prepaid in-game currency is part of a virtual currency, virtual currency can only be purchased with real money, and cannot be converted into real money.


On a global scale, probably the most famous digital currency is "coins". However, similar to the "coins", the issuer of the digital currencies are no concentrate, anyone can participate in the manufacture, and around the globe. Digital currency is issued by the Central Bank and central banks, encryption, there is the national currency of credit support.

It is understood that, at present, on the official prototype of the digital currency system is in progress. As to when to launch China's legal digital cash, now have a timetable.

Paper money in the hands of shrink?

After the digital currency, you will change the amount of money in circulation? Our currency currency issuance and shrink?

In this regard, says Huang Zhen, Director of the Institute of finance and Economics finance law, digital currencies mainly refer to the money not raised money shrink. Currency issuance is still controlled by the Central Bank, or digital currency is only morphological change in currency notes outstanding.



In addition, mentioned Huang Zhen, now offering digital currency is still at the discussion stage, monetary value is a symbol of innovation, a lot of problems in the study. However, it has in practice tend to use electronic banking, electronic payments, instead of carrying paper money. Under this trend, later available on the banknotes in circulation may be reduced.

Will completely change your life! These four categories of people may be dead

Economic diplomacy he maochun, Director, research center of Tsinghua University said, compared to paper currency, digital currency advantages, not only can save the cost of issuance, circulation, but also improve the efficiency of trade or investment, enhance convenience and transparency in economic transactions. But following these types of people should sit.

① the bank teller

With the arrival of digital money, fewer and fewer people carrying cash, then you need to go to the Bank are naturally less, teller cash business nature is not all that much.

② banknote printing plant and Mint employees

With the reduction of cash in circulation in the market, the note-printing plant and Mint, no need to print so much money.

③ evading the crowd

With the transparency of economic transactions, money laundering, tax evasion will be much more difficult.

④ thieves
Thieves are increasingly "difficult".

Friday, November 18, 2016

I was almost a football idiot

I was almost a football idiot, watching the European Championship with boyfriend today, Belgium with Wales, while Belgium scored four goals, excitement drops with her boyfriend says Belgium 4:0, right? Boyfriend says with a quiet understatement: scored 1 goal, then it plays 3 times.


Do you know this is my


Class Shang new to has a meimei, each to lectures of when, are sat first row most left of location, as long as others a sat she of location, on yell, over time everyone are regardless of has, one day a small guy on sat in that location Shang, meimei a see not happy has, on said: you know not know this location is I of, I are sat has three months has. Upon hearing this guy sneered: Oh, Yes, the earth beneath my feet stepped on more than 20 years are afraid to say I ...




Boom in the property market caused by speculators is repeated broken promises to buy "step"

Line survey
Boom in the property market caused by speculators is repeated breach
This year, the "11", 19 key cities nationwide-intensive publishing market "adjustment" policies, anecdotal comments on "history". Between the end of November last year before this regulation, two "high" prices in this regulatory policy was launched, the rapidly cooled, trading volume fell sharply.
In front of the regulatory policy, described by the media as the "jump" of real estate prices, in the middle of trading participants, have a big psychological impact, described as "step"-buyer "House stealing panic" seller "defaults".
Buy "step"
In Beijing, the chain of intermediary located in East Branch Manager Ren Jieyu told reporters outside the ring, and in August, the store received the seller calls, "I break" "so sue me" example, there are two. While prices are relatively stable in April-July, within four months, that number is zero.
The store manager said in Beijing, Suite 8, 92 months jumped million is quite a normal phenomenon. "All interests at stake, sellers feel that their house for sale cheap. "Ren Jieyu said.
Also in this month, in the prices of the hottest second-tier cities of Zhengzhou, is "change room" Ren Ying found their houses over households, is prepared to accept when you purchase verification, received mediation: "owners said that House is not for sale! ”
Two months ago, she signed a contract with the landlord, has now been broken. The "$literal" says indignantly: "contract with integrity, seconds in front of interest into slag. ”
As house prices jumped, Ren Ying Frank himself back selling has been unable to afford "new high" price, "instantly find themselves homeless! ”
"Homeless" Ren Ying, hired a lawyer and filed a lawsuit against home sellers. Only Ren Ying is one of many "breach victims" one.
With house prices "rose", breach of contract dispute occurred in the number of judicial cases increased significantly.
Leading real estate lawyers, law firm senior partner Sun Jianzhang, told reporters the capital, received from the September home sales disputes, including consultation, more than the number in the same period. And this month is the most rapidly rising prices in one or two cities one month. "In front of the interests, contracts can be trampled under social credit were a serious challenge. "Sun Jianzhang attorney said," this is not just a legal issue. ”
Investors "autumn harvest"
In the default list, had the city not only "indigenous", the urban middle class, there are celebrity CEOs.
Lee a is one. Born in 1983, Lee a, serving as a supply chain management company, Managing Director of Shenzhen City. She is the legal representative of the company.
Credit website to Shenzhen City, journalists: the supply chain management company invested by a-share listed companies--Qi bin shares.
Lee a break, took place thousands of miles of Beijing real estate management. Together with her broken, and her brother, Lee b.
On June 7 this year, 70-year old Li Mouzhong from the hometown in Henan to Beijing. His trip was to harvest 7 years ago "investments" results.
7 years ago, Li Mouzhong on behalf of himself and his son and daughter, a community outside the East third ring road, Beijing, bought five suites in one breath. One fell on his daughter Li, a name, a fallen son b Lee's name.
Li Mouzhong the purpose of the visit was in his capacity as agent, the two suites sold.
Li Mouzhong early in the home-run enterprises, becoming the first group of Denver. With money, choose to invest in first-tier cities to buy a House, sitting on Chinese real estate "diamond age".
Lee has become a listed company shares Chairman. His brother Lee b, a child in his father's footsteps, serving as machinery gongyi city, Henan province, China representative of the legal person, Board Chairman and General Manager.
Early this year, at the end of last year, house prices rose in first-tier cities such as Beijing, Shanghai, Shenzhen, Li Mouzhong Li's brother and sister, decided to move the two suites "rallies".
Change time
Not all people are as lucky as Li Li a, b.
No "family background" Mr Tong, in order to buy a House, accessible only by starting from scratch. University graduate, fight for 7 years, he has a "snail House". Earlier this year, children under three years old, existing housing stock has been unable to meet the "three generations under one roof" demands, he decided to change.
In mid-May, through an intermediary for the original house up for sale, shortly after the contract with the buyer. Meanwhile, he looked around the room.
Beijing at this time, "3·30 policy" was launched, the property market is "price stability" in the State. And in the "3·30 deal" before the introduction, one or two cities experienced a "boom".
After a boom market cooling policies, many of the "speculators", house prices peaked, now!
"The new deal was launched, the small room to negotiate prices in housing sales. "Wang Longyue chengshousi HomeLink real estate store manager said that in April-June, many houses have 100,000 ~20 million bargain space.
After 21 showing in late May or early June, Mr Tong by real estate agents in wheat fields, look at Middle East third ring road, a three-bedroom, through intermediary broker, he decided to sign up.
By Convention, on June 7, the owners of agents from Henan to Beijing ... ...
Contract start to look so pretty
The afternoon of June 8, the three parties meet to sign a formal contract.
Li Mouzhong as owners agent, and Mr Tong signed the contract of sale of existing homes in Beijing, they signed with real estate agents in wheat field of the intermediary service contract.
Contract showed that total housing fund of 5.5 million Yuan. Since the Housing Authority "not only five" buyers need to pay taxes of 360,000 yuan, meanwhile, needed to pay the intermediaries intermediary service fees 82,500 Yuan. In other words, Mr Tong for the House, pay 5.9425 million Yuan.
According to Beijing housing policy, children's name needs to be "only" housing for sale in order to "first set" eligible to purchase the suite.
Based on this, by mutual agreement, have agreed in the contract, "buying time": before June 17, House buyer to pay the seller a deposit of 500,000 yuan, and as part of the purchase; sellers to mortgagee upon before October 31, 2016 (CITIC) to pay off the loan early, and bid for the mortgage registration within 10 business days after cancellation.
Buyers and sellers before November 20, handling tax, fee payment procedures. Buyers and sellers to obtain the deed within 30 working days after the payment receipt of registration procedures for house ownership transfer.
According to real estate agents in wheat field staff memories Jin Shiyu, a tripartite contract is signed smoothly, buyers and sellers exchanging a mobile phone, a micro-and thought the other was trusted "trading partners", or even "about good execution of the contract is completed, celebrate."
Jin Shiyu told reporters that contract early performance was timely. Buyers deposit of 500,000 yuan, all account in three days: on June 8 in three batches of remittance is 100,000 yuan, 50,000 yuan and 100,000 yuan respectively on June 11, two remittances, is 200,000 yuan, 50,000 yuan, respectively.
The night of June 11, owners representative Li Mouzhong app to tell buyers: "Mr Tong, received 50,000 yuan for your remittance ... ... Has received 200,000, today received 250,000, received a total of 500,000 deposits ... Thank you for advance deposit remitted. ”
Soon after, Li Mouzhong Li b name his son's room, by real estate agents in wheat fields, signed a contract with another customer.
Start to seem perfect: good faith buyers meet honest sellers. However, two months later, the situation changes ... ...
Things are changing
From August to September, Zhengzhou, Nanjing, Hefei, Wuhan and other second-tier cities provoked a second wave of house price led the flag, and Beijing, Shanghai, Shenzhen and other cities continued to rise in price.
21:38 August 19, Mr Tong owners received a phone call from Lee. It's owners to communicate with buyers for the first time. According to Mr Tong memories, the phone, the owner questioned him, why not transfer as soon as possible, why can't I pay in advance?
The owners of "about face," said Mr Tong was very surprising. "The contract agreed by December 31 to complete the transfer, but at this time only in mid-August, far from the period. "He had a hunch that things are changing.
Sure enough, one day in September, Jin Shiyu conveyed to him the owner of real estate agents in wheat field staff "means":
First, ask the buyer to purchase the full amount into the Bank, fund supervision; second, buyers must advance the sale procedures; otherwise we will be considered in breach of contract.
Shuang Jing store manager, real estate agent Dong Zhiming in wheat fields have been tracking the deal, he told reporters that the owners claim, are contracts of the new claims.
"We told the owners to communicate face to face, we feel, the owners really wanted to to these new requirements, make excuses for defaulting. So far, only, the owner has not issued a written communication. "Jin Shiyu told reporters that prices rise too fast, they have received several" breach of contract notice. "
Not only that, the children learned from real estate agents in wheat fields, the owners sold the contract of this suite, another real estate agent while listed for sale.
On October 14, Mr Tong to the intermediary "allegedly sold" as its theme, and reported to the consumer network. On October 17, in the consumer network intervention, the intermediate site set aside the House "sold." Reporters from the website screenshots to see, the houses appear as "suspension of sale."
In response, senior real estate lawyers, law firm senior partner Sun Jianzhang, told reporters the capital, was signed by the seller and by the Beijing municipal construction Committee, the Beijing Municipal Administration for industry and commerce in December 2007, revised standard version.
"If the housing two sell becomes a reality, is suspected of fraudulent sales, more serious consequences, the parties will bear the loss. "Sun Jianzhang lawyer said.
Siblings chose "default"
From October 10, Mr estate agent Dong Zhiming in wheat fields, Jin Shiyu and customer child by telephone, text messaging, micro, contact owners and agents a Li Li Mouzhong, its on-time performance, but as of press time, have not been the actual response.
"In a phone call, Mr Li Mouzhong had promised to interview two weeks ago in Beijing, didn't come to me until now. He said he finished a housing case. "Jin Shiyu said, his son Li b also refused to perform after signing a contract, is currently dealing with buyers sued.
The end of October, reporters call the owner Li a, to further understanding of the situation, on the phone, she said, "this thing, I'm not sure", then hung up the phone. Children get in touch with owners agent Mr Li Mouzhong, Li Mouzhong on the phone said, "I have no matter the" same terminated the call.
On October 31, is a Mr Tong Li contract delivery date for the first time, the contract, here a few days ago, owners want to CITIC Bank to pay off the mortgage. According to real estate agents in wheat fields introduced late so far, owners are not in compliance with this provision.
According to the lawyer suggested, that afternoon, Mr Tong Li Mouzhong Li a, agent to the owner issued a "letter of publication" request within 7 business days, whether to continue performing, formal response and confirmation. If not answered, will be based on its formal default.
As of press time, Li Mouzhong and Li Li a, b did not respond to interview requests.
"Better than justice ' lawsuit ' more serious, is a burst of social credit. "For sale a large breach phenomenon, Zhang Wangcheng, a sociology professor at Beijing Normal University believes that social credit must be protected, respecting the spirit of contract.
"When credit is free to trample all cynical, social credit risks collapsing. Breach, once the common behavior of the tacit and want to rebuild the Foundation of trust is very difficult. "Net said.
"Optimistic that this year, two cases in cities such as Shenzhen, Zhengzhou, underlines the judicial protection for compliance. "Sun Jianzhang lawyers think.
Sun Jianzhang lawyers referred to two cases have in common is the House seller "break" eventually was ruled "the continued performance of the contract", but, due to the seller's refusal to fulfill the contract, the buyer damages caused, by the seller.
He said, it would discredit, a single breach of the contract, the relevant jurisprudence is a warning.

Wednesday, November 16, 2016

Defense, space

"Stolen in the night, pulled by the thief collapses, dies", parties be held liable for "negligence causing death" case once again set off to the public for "self-defense" standard controversy.
Of the criminal law of China stipulates that in order to combat the ongoing violation, and for damage caused by unlawful infringement of people, belonging to the self-defense, not criminally responsible. The 1997 edition of the Penal Code also makes it clear "unlimited defense right" for the ongoing assault, murder, robbery and other crimes of violence seriously endangers the security and defensive behavior, not part of the defense.
However, in practice, citizens ' legitimate space, tend to be compressed somewhat "narrow". For example, by 2014, a security guard in a tourism Park in Shenzhen of molesting a female Internet users, by passing small painted heroic college students wounded. Shenzhen police defense, suspicion of intentional injury crime small painted detained. Eventually under the pressure of public opinion, little James was acquitted.
Disclose the merits of this case, Huang Hua found the thieves in the Middle, out the door to catch a thief, chasing after a road reached out and caught the thief by the sleeve, when thieves break, because of rain slid and fell to the ground, caused by head injury deaths. Period, Huang Hua no extreme behavior, violence did not continue beyond the uniformed thieves, but a normal late-night chased after the thief, pulling. Prosecutors believe, Huang Hua "slippery chased the thief and should foresee the rain pulled could cause the fall injured the results", then hold the "negligence causing death".
If the news report is objective and comprehensive, for a theft victim chased after the thief, the applicable legal standard if some harsh? Proverb says: "the law does not force." If such a theft victim to help themselves, just because sliding accident and its liability, then the others after they were stolen in the future to do, dare catch a thief?
If too high a threshold of self-defense, would not only restrict the civic good Samaritans as well as self-help initiatives is severely compromised when faced with illegal infringement of citizens ' personal safety.

Do you know?

Do you know? "A worm said to his companion:" I've not earthworms, I used to be a centipede!!! "Its peers by surprise:" How is it possible?? "" It's true. "Earthworm said sadly:" later on, I was hooked on online shopping. ”

Tuesday, November 15, 2016

Japan's attack on Pearl Harbor 10 details unknown

01, on June 22, 1941, Germany attacked the Soviet Union, the Soviet-German war. At this point, Japan had suggested to the Emperor attacking Siberia within the Government. But after nearly a month of negotiations, Japan the Government formulated the "South" policy clear, "no matter how the world situation changes, the Empire will be building ' greater East Asia co-prosperity sphere ' policy", "to the goals of the China incident and basis established for self-existence and self-defence, pace across the South. "To this end, Japan at war with Britain and the United States.
507: Japan's attack on Pearl Harbor-Feng Xuanyi unknown 10 details-history-controlled-Feng Xuanyi
02, develop plans of attack on Pearl Harbor is Japan, Admiral Yamamoto, 56. He was a gambler and gambling skills and superb. Even hand the most commonplace, he can break the Bank money. He once said: "If the Emperor gave him a year's time, he can Japan win back a ship ' Yamato ' battleship. "His mission to Europe, according to the legend because of gambling skill, Monaco Casino, and even forbade him entrance.
507: Japan's attack on Pearl Harbor-Feng Xuanyi unknown 10 details-history-controlled-Feng Xuanyi
03, November 26, at 6 o'clock in the morning, the fleet, led by Admiral Nan YUN Zhong Yi from Japan based on single crowns in the North Bay, and step out of the pace of the fighting. This fleet consists of 6 aircraft carriers, 2 battleships, 2 heavy cruisers, 1 light cruisers, 9 destroyers, 3 submarines, 7 refueling ship, called the Japan naval history's most powerful mobile forces
04, on November 26, the United States President Roosevelt at the White House meeting of senior military said: "according to our intelligence, United States on December 1 before and after the attacks. ”
05, on December 2, the Japan Foreign Minister Togo to call the Consul-General of Hawaii, the instruction: "given the current situation, identifying United States battleships, aircraft carriers, cruisers docked in Pearl Harbor, is extremely important. So, hope the daily report the situation as much as possible in the future. ”
06, the implementation of a total of 16 teams of the first wave of attacks, a total of 183 aircraft, fly from 6 aircraft carriers, respectively, time took only 15 minutes. Total Commander is Yuan Tian Zhongzuo.
07, being surprised that it was Sunday, Pearl Harbor over the weather inside the harbour is calm. Military facilities on the sea panorama. Yuan Tian Zhongzuo exultation: "well, it is good opportunity to attack. ”
11:40 A.M. 08, December 8, Japan announced the Emperor's edict to declare war: "... ... I am today to the United States and the United Kingdom declared war on ... ... For self-existence and self-defence of the Empire included, only the Chinese jump, break through all obstacles, how can there be to it! Huang Zu Huang of the gods on the, I believe thou shalt loyalty of Yong, restore the spirit of fathers Yiye, quickly uproot the evil and establish permanent peace in East Asia, with a view to preserving the glory of the Empire. ”
507: Japan's attack on Pearl Harbor-Feng Xuanyi unknown 10 details-history-controlled-Feng Xuanyi
09, on December 9, 1941, the United States declared war on Japan, President Roosevelt said: "on December 7, 1941 (United States), a negative stigma forever--the day the United States suddenly were Japan, sea and air forces of the Empire of the deliberate attack ... ... I ask that the Congress declare, since Sunday, December 7, 1941, Japan launched unprovoked and cowardly attack began, the United States and Japan there has been a war between the Empire State. ”
10, on December 9, the Kuomintang government of China after the Sino-Japanese war has been going on for 4 years, formally to Japan declared war.

Currency breakdown of "iron bottom" a big wave of exchange losses of listed companies billions

Not every quarterly releases due to exchange rate gains and losses, from the three quarterly reports of listed companies to disclose data, present the publication of exchange gains and losses in the company, Minsheng Bank exchange rate loss is most serious.
On November 15, the middle price of RMB 6.8495, adjustable off 204 points, also fell for 8th day, its lowest since December 8, 2008.
Since the Yuan was "into the basket", the middle price of RMB has fallen to 2.7%. Face the RMB fell, listed companies will experience fire and ice situation of two days. Part of export-oriented industries such as textiles and garments, construction decoration enterprises said devaluation of the Renminbi will bring positive impact to the enterprise. Exchange rate losses to the airlines for holding large amounts of dollars debt, resulting in lower profits.
According to statistics from flush from 2016 so far this year, nearly 80 listed companies have issued foreign exchange hedging or currency forward exchange settlement and sales business announcements.
Big airlines against exchange losses
On November 11, the middle price of RMB 6.8115, below 6.8 for the first time in more than six years. Earlier the market are of the view that year the Yuan will fluctuate around 6.80, but this is thought to "iron bottom" was easily penetrated, caught the market off guard. Facing the rapid devaluation of the Yuan, and BOC Hong Kong Liu Hong, a senior researcher interviewed by 21st century business Herald reporter said earlier, United States is expected to raise rates by the end of the strong, the devaluation of the Yuan to a certain pressure, but overall, the Renminbi depreciated basis does not exist.
"With the internationalization trend of RMB exchange rate, degree of rise and fall is normal. Although the depreciation of the Yuan against the dollar this year has presented, but relative to a basket of currencies, Yuan was strong, investors do not have to worry about. "To throw Morgan (Hong Kong) Zhang Shuwan, investment Director for 21st century business Herald said.
The evening of November 4, Central Bank forwarded China network commentator article says October index continues to remain basically stable RMB exchange rate. Said on October 31, 2016, CFETS RMB exchange rate index, and BIS reference currency basket, the SDR currency basket of the Renminbi exchange rate indices were steady rise slightly, display the Yuan to a basket of currencies exchange rate remained stable.
Although the market believes future dollar range is limited, but currency fluctuations have had a significant impact on listed companies.
According to flush statistics, exchange losses of listed companies in 2015 as high as 48.7 billion yuan, which were the two hardest-hit areas of the aviation industry and the real estate industry, a loss of 17.9 billion yuan and 11.9 billion yuan, respectively. The Yuan traded in 2014, exchange rate losses of 3.7 billion yuan.
2015 exchange losses the largest three companies respectively, China Southern Airlines, Air China, China Eastern Airlines is the airline sector swept, three companies exchange losses are 5.702 billion yuan, 5.156 billion yuan and 4.987 billion yuan, exchange rate losses of three airlines with current year profit.
This year, it's a continuation of the trend.
Air China, for example, devaluation of the Renminbi against the dollar in the first half of this year by about 2.1%, the company produces 1.698 billion yuan exchange rate losses; 1% depreciation of RMB, the company will reduce net profit of 482 million Yuan. China Eastern Airlines and China Southern Airlines mimicked, a foreign exchange loss of 1.36 billion yuan, 1.51 billion yuan in the first half.
Who has the effective hedging moves?
Not every quarterly releases due to exchange rate gains and losses, judging from the three quarterly disclosure of the data, the current disclosure of company information exchange gains and losses, Minsheng Bank exchange rate loss is most serious, as at the end of the third quarter foreign exchange loss is 1.829 billion yuan, there are 230 million Yuan foreign exchange gains at the end of last year.
The Minsheng Bank had said in a conference call, not biased, don't look at the exchange gains and losses. Exchange rate gains and losses, investment income and changes in fair value gains and losses, three reports together to truly reflect the foreign exchange, precious metals, and exposure to fluctuations in the market.
Beijing, Fund Manager at a large fund companies on the 21st century business Herald reporters influence of RMB exchange rate lower on listed companies can be said to be fire and ice two days. Export-oriented textile and garment, construction and decoration are positively impact enterprise; paper and other industries the Fortune or misfortune to adding due to exchange rate fluctuations appear, expand the scale of exports at the same time, under rising cost pressures from imports of raw materials and exchange rate losses to the airlines for holding large amounts of dollars debt, resulting in lower profits.
Shen Wan Hongyuan Li Huiyong, Chief Analyst admits, cannot simply think that devaluation is a bad thing. "The exchange rate depends on the country's economic growth, and monetary policy. Price is the most effective tool to balance supply and demand in the market, had more balance through interest rates. After 8·11 moved in now, also serves as a tool, and broaden the scope of monetary policy, increase economic resilience, is good for China's economy. ”
Li Huiyong believes that if the devaluation of the Renminbi makes China's economy can stabilise earlier, which will contribute to the healthy development of the capital market.
Some listed companies also believe that devaluation would have good for business. Vosges stake, for instance, said that third-quarter revenue rose 7.04%, significantly faster than the first half of the long term trend of devaluation for the company's export business is good.
CITIC's study also noted that the control performance of the Bohai Sea will also benefit from the devaluation of the Renminbi. The semi-annual shows, overseas revenue accounted for more than 71.6%, estimating foreign assets accounted for about 70%. Third-quarter points when it is estimated that about 12.18 billion overseas income, net overseas assets of about 20.4 billion. Because of foreign assets and liabilities are matched, the dollar 10%, bringing reports income and net assets denominated in 10%. At the end of six months, control in the Bohai Sea will be increased for foreign leasing companies increased capital investment of over $800 million, that part of the equity investment and enjoy dollar value-added benefits.
Because the negative impact of exchange rate depreciation company also actively help themselves, part of the listed company has been or is about to carry out foreign exchange hedging operations, to avoid exchange losses from devaluation.
Chenming paper said, through import and export company attempting to open a long-term letters of credit, trade financing and interest-rate swaps and other measures to avoid the risk of exchange rate fluctuations, which had little effect on future operations of the company's overall operating.
Jerry shares also said more foreign currency settlement business of the company. Meanwhile, the company, overseas mergers and acquisitions and business expansion of overseas investment, foreign exchange rate, interest rate and foreign currency risk of devaluation of the dollar, sharply higher. Based on the above, to avoid the risk of foreign exchange market to prevent the adverse effects of exchange rate fluctuations on the company, and in 2016 the company intends to continue to carry out foreign exchange hedging operations, the scale of business of not more than 2.5 billion yuan or the equivalent in foreign currency.

Monday, November 14, 2016

Breaking 6.84 RMB hit a 7-year low Fed rate hike in December heightened expectations

The continuing strong gains as the devaluation of the renminbi is under increasing pressure.
As of November 14, at 20 o'clock, under the influence of US dollar index was above 100 integer points, domestic market the dollar spot rate hovered near 6.8415 plate has reached a 7-year low recently 6.845; Hong Kong dollar-Yuan exchange rate is hitting 6.8507 offshore, also hit a record intraday low of 6.8551, middle price of RMB on the day at 6.8291, hitting a nearly 6-year low.
"For now, the concern in financial markets from the United States turned to the Fed's December rate hike expectations in the presidential election, the dollar index continued to rise, invisible exacerbate devaluation pressure. "A Hong Kong Bank foreign exchange dealer said.
Latest data show that as of the week ending November 11, CFETS RMB exchange rate stood at 94.33, up 0.55 a week earlier.
"It seems to reflect the Chinese Central Bank's latest Renminbi exchange rate management policy. "These currency traders think banks in Hong Kong, with the Fed rate hike in December expected to continue, the Central Bank raised interest rates move in the dollar ahead of the release on the occasion of RMB devaluation pressure, and can reassure market fears of a disorderly devaluation of the Renminbi. More importantly, with the Yuan against a basket of currency stability, the functions of the Central Bank intends to build the safe-haven currency, attracting international financial institutions will be more renminbi into non-US currency asset pool.
The dollar was weaker Yuan "behind"
Many foreign exchange traders noted that after Trump was elected United States financial markets after the great earthquake of the early Presidents, currently the focus of financial markets, have turned to Trump policy advocates will much positive effect on the dollar.
"Compared to Trump advocates protectionist foreign policies, he emphasized that the expansion of investment in infrastructure construction and employment of domestic policy, and improve the United States level of inflation and economic growth, but to accelerate the pace of raising interest rates and continuing strong. "Head of currency strategy at Nomura Hafiz (Bilal Hafeez) to the 21st century business Herald reporter said.
The latest data also showed that Fed rate hike in December briefly dropped below 50% the early chances in the presidential election results, has now returned to more than 80%.
Meanwhile, many international investment institutions from historical data found in 1981-1984, the basis of the continued strength of the dollar--the Reagan-era, when the United States economy is in recession, United States Government bold fiscal stimulus policies and to support the Federal Reserve continues raising interest rates, the dollar is up about 60%. Now Trump, head of United States also take interest rates and fiscal stimulus, history could repeat itself again.
Fu Tuo gumier·aihemaide, Chief market analyst of the foreign exchange group to the 21st century business Herald said, which completely change the way financial institutions against the dollar – they think in the past Fed rate hikes may not be able to let the dollar index break through the 100 integer points, tend to adopt a policy of every high selling of the dollar to take profits. Now, with Trump, a series of administration and their ideas to accelerate the pace of rate hikes and continuing to appreciate, they began to think that the dollar index will hold above 100 integer points, making the dollar cycle throughout the cycle.
"There are already so many financial institutions believe that the dollar will break through at the end of 102, next year may reach above 105. "He said this invisible exacerbate devaluation pressure.
Many currency traders said this downward pressure is particularly strong in the offshore RMB market. Recently, many Chinese companies are increasing purchase amount in the offshore market, preferring to take higher risks "Cap forward" option combination lock the offshore renminbi-dollar cost in advance. The reason, is a territory of capital controls so that they are difficult to obtain dollars in the territory, their offshore holdings into dollars for trade and investment expenditure, secondly, devaluation pressure surges made them strongly against the dollar safe-haven demand.
In the foreign exchange traders, which contributed RMB offshore market fell even more, and then drag on the domestic market the Yuan continued to fall.
"It should be said that there is an invisible hand of the market. "One currency trader said. Except November 9 United States President election day both inside and outside Yuan meeting poor space once over 300 a basis points, remaining time this meeting poor space always was control in 200 a basis points within, this phenomenon exists with double edged sword effect--benefits is speculation capital arbitrage trading unprofitable, helps ease Yuan speculation sell empty of pressure; harm is is territory Yuan exchange rate often was outside Yuan exchange rate "led with nose go"--followed fell, continuous below in recent years low.
"However, the rapid rise in the Yuan continued downward pressure from the dollar, speculative selling of the Yuan capital is not active, because China's economic growth fundamentals and capital controls so that they don't see the opportunity to bet on the Yuan fell sharply. "He said.
Drop the "bottom line"
21st century business Herald reporter also learned from the many currency traders, although the 14th Yuan below 6.84 last 7-year low against the dollar, but the market did not find traces of China's Central Bank intervened to support its currency.
"14th not see traces of big Chinese banks selling dollars, but foreign banks ' proprietary disk in every high selling dollars, they seem to think the dollar index may not be able to hold 100 integer points. "A State-owned bank foreign exchange trader pointed out to the 21st century business Herald reporter.
This market speculation, as Trump may promote protectionist policies and the inclusion of RMB exchange rate manipulator, did not rule out China's Central Bank relaxed the exchange rate management, and acquiescence of the Yuan while the dollar slid December interest rate hike expectations sharply to release pressure in reducing unnecessary trade friction in the future at the same time, new game room for the US-China trade talks.
However, this view is questioned by many domestic financial institutions.
A private equity trading Executive believes that China's Central Bank does not intervene, it does not mean relaxing the RMB exchange rate management. In fact, the Yuan domestic foreign exchange margin space has always been maintained at 200 basis points less than speculative carry trade is unprofitable, this may be the result of the Central Bank to strengthen the management of onshore and offshore RMB exchange rate, while from among recent price trends analysis, Central Bank intends to guide the CFETS remained relatively stable against a basket of currencies, even allowed the Yuan against a basket of currencies rose slightly.
"This quietly to the currency decline has set a bottom line. "He pointed out. This strategy of benefits, a is let Yuan in ahead of release dollars raised interest rates by brings of devaluation pressure while, market without worried Yuan exchange rate disorder sharply fell; II is through expanded Yuan exchange rate fluctuations interval (one-day price over 200-300 a basis points), further solution Exchange to out clear of problem, sharply ease enterprise hedge purchased meeting pressure; three is in dollars raised interest rates led to non-beauty currency collective sharply fell while, Yuan against a basket currency exchange rate through slightly rose, Can effectively enhance the currency's safe-haven properties, attracting international financial institutions would pool more renminbi into non-us currencies as a reserve currency.
Et finance Research Institute Chief Economist at Renmin University he fan believes that this round of devaluation pressures from the outside, don't panic. The short term, should pay attention to Fed rate hikes could trigger market volatility; the long term, the Central Bank should continue to speed up the reform and let the Yuan exchange rate to float freely as soon as possible, to eliminate the root causes devaluation expectations.

Chang had fled

Seeing approaching what had been, if not increased, numerous paper shufflers in the future is likely to be bothered, but life does not emerge, "worker", I start worrying.

I wonder if I can find a Secretary job.

After all, the lead is ministering to the people of the Secretariat's work, who has a background of Guan Er dai naturally refuses to do. But because it is close to the leadership of people, do a few years will be promoted and arrange the place, after all, lead to Bo a humane reputation.

But what about opportunity? In a Secretary's leadership two hands to count them, no special conditions, easier said than done.

But shortly thereafter, and my chance came. Chen, Deputy Head of the Secretariat in the areas to be promoted to Bureau Assistant Director, I was lucky enough to get the Organization Department recommended replacing became his Secretary.


Chen Chang ranked last in all deputy heads, because as head of the Democratic Party, is a team configuration exists, and there is no significant voice. But he is a typical intellectual demeanor, is unpresuming when addressed, from the perspective of his Secretary on the way, he is also very carefully to people around, so it is a good place. By now, do I have any better options?

To report that day, I was a bit nervous, leaders also happened before because, after all, personal likes and dislikes and returned to the Secretariat.

Fortunately, Chen Chang was his usual modest way, kindly asked me some personal circumstances and experiences, just told me to go find was arranged by the Chief Secretary. In this way, my Secretary began his career.

Chen Chang is very easy-going, Secretary to do personal things don't like job, socializing is absolutely necessary not to participate. Only I don't understand is, he used to stay in the Office to go home late at night. But because of the particularity of identity, he is not like other district there is so much work and socialize.

However, I kept on standby to stay in their offices.

2

I took office a month later, Chen Chang rates in charge of education, culture, science and Technology Commission, leaders of several departments to visit Europe. It was just an ordinary visit, so at the time, I never thought it would become such a big storm.

In General, district Secretary of the tour is a most relaxing time, although the establishment under the Fu Secretariat Branch, but also for the leadership of a person's service. So when the "boss" is not the time, as long as the Secretariat appears in the Office every day, and even occasionally skip classes, no one cares.

So, I spent a leisurely ten days of freedom. Day falls on a Sunday, I called up standby ready to pick, but had not received instructions. To call with Chang Chen's visit of the Education Bureau, Secretary of the Party Committee, and no one has answered my phone too.

I started a little uneasy, but didn't anticipate the seriousness, but suspect the aircraft may delay for what reasons they stuck out, or other emergency situation.

Wait until the next morning, I arrived at the Office early, Fu hole the first time I was called into the Office of the Director. Office of unusually heavy, usually outward enthusiasm, good Director of the road hole, the whole person is like hidden in the deepest shadows of the Office, locked his brow, there seems to be something called him extremely difficult.

Was silent for about a century longer, Director of the hole finally said: "Wang, Chang Chen ... ... His time there is nothing unusual about it? ”

"Ah? "This issue is completely beyond my comprehension," what ... the ... Unusual? ”

"I'm just asking you what is unusual? "He looked at me for a moment, finally seem to understand that I really do not know, relieved, but some disappointed to say to me:" Chen Chang he stay back, you should be aware of how big things. ”

Said he quickly glanced at his watch, "has time to work, I have informed Fu, a first emergency meeting to work, you go down with me. ”

At the time, I just felt a thunder strike, like standing up body propelled, Director of the machinery with hole all the way down to the Conference room.

3

Meeting rooms have full, several Deputy Directors, secretarial science, Fu supervision branch, integration branch, area office and laboratory colleagues, familiar and unfamiliar faces, some confused, some curious, saw the hole Director came, I was showing a little snooping. I quickly found a seat and sat down.

"I think some people may know, Chen Chang privately remain France not owned things. I hope that we don't discuss whether publicly or privately about it! "Sit down, Director of the hole, said bluntly, looks to restore a pattern of decisive voice, and more than a bit harsh.

"It feared to have tipped off the media. Next, we even have numerous phone calls. Your uniform diameter is called them propaganda, told them this thing uniform response of the propaganda Department explained. I know some of you will have families and friends acquaintances in the media, I do not want to see published anywhere, ' according to Fu familiar ' it. Here are aware of the gravity of the matter. Well, the meeting closed. "Not all people react, Director of the hole has never looked back to stride out of the Conference room.

Except for a few, Deputy Director and Chief of the Secretariat, like the few outside knew, as most people's reaction as I was feeling wide awake--but of the son of God, but only after a few moments, all put the focus on me. I like Thorn, just want to flee.

Came, Director of Secretary, patted me on the shoulder: "you up a bit, can go home for the time being. Remember that in addition to the call from the Director of the hole and I, do not take any calls the phone. "I quickly agreed.

Back in the Office, then additional Chief Secretaries back to you, but do not work, revealed to me, or sympathy, or wonder, or gloating expression.


Back home, I lay in bed my mind was like marquee upset--I want to know what is going on, but not a clue.

Until the afternoon, telephone handset was constantly ringing, caller ID some co-workers or friends in other departments, some unknown number, I guess is the media reporters. Tired of annoying, but they dare not shut, I dammed up boredom can only be free on the Internet.

Computer power on, it really POPs a "so-Chen Chang stranded France does not belong" in the news. News is very short, and no reasons and circumstances. But matters of Association is following the news related links-some time ago a Secretary of County party Committee in Wenzhou fled France, according to a survey of corruption more than 200 million.

I really can't believe Chen Chang was a man who fled after the corruption, independent Commission against corruption has been holding in the area are very strict, and may never find out, and also let him visit; if there are no signs of being investigated, and what their first escape?

"A pawn you know one, know that is not the hell out of the way. "I was telling myself can only joke.

4

A week later, I received a call from Chief of the Secretariat, informing me that going back to work.

Although going back to work, may be without things to do. My people in the center of the storm, just like in the eyes of the wind knows nothing, and eventually through intermittent about piecing together the whole thing around.

Normally speaking, government officials visit was strictly disciplined--everyone's passports can't hold it in your hand, should be left to the group leader of the unified storage.

Chen Chang led the Regiment, the leader is the Bureau's Party Committee Secretary Zhang. Abroad, Chang Chen and Mr Zhang said, we may have to buy duty-free goods, or other status, passport with his side easier.

Chen Chang, education is in charge of the sector, said his direct leadership and reasonable request, Mr Zhang will certainly not be refused. So he obediently handed my passport Chen Chang.

Was smooth all the way, the talk on the project, and the signing of agreements were signed, to visit was the last stop in Paris, only. Chen Chang and everyone had to say hello, said some good friends here, for so many years, Bureau-level cadres usually is restricted to go abroad, I wish to take this opportunity to go and visit, courtesy do not participate in the activities of the next two days.

But on the last day was ready to return, Chen Chang, you knock the room, no one should have been, a cell phone did not answer. Hotel take the keys and opened the door and found only an empty box, carry-on bag and items are gone. Everybody panic God all of a sudden, too busy to call home to report.

District Secretary, District receives news surprised, too busy to call Chen Chang. This time, he was picked up, but the phone just says his lumbar vertebrae disease has made, should not be changed, to stay in treatment abroad, to say just hang up the phone.

What happened is this.


It is said that the district Secretary, Chang Chen Chang went after many phone calls.

About one month after Chen Chang back personally by the Minister, but did not come back to work again. Area reported what happened to the city, and announced that Chen Chang was due to personal and health reasons caused the retention, stress that this is not the result of any economic problems to flee.

Approved by the city, said Chang agreed, and Chen's comments early in the morning, in violation of discipline abroad without permission, but did not cause significant consequences for the loss of one, taking into account the body is the reason for his early retirement.

In this way, the storm finally abated.

5

However, this "real reasons" but only after long being handed out.

Chang and his wife, Chen long estranged, just holding it, seemingly live. Until Chen Chang met hit "real love", a Wenzhou boss opened the teahouse.

Then I remembered, he was seen the female boss. The teahouse opened in the area of the gym, Chen Chang, and sports is in charge. Teahouse rose-end route, cultural concept, layout is classic and elegant, there are items such as incense, guqin, tea.

Tea House boss of more than 30 years old, white skin, beautiful facial features are not amazing but clean, gestures or even a chuckle there was elegance, nothing more, the man reveals a quiet temperament.

Chang had fled
This time, Chang decided to Chan and his wife divorced, but the ending wasn't. Even if he says clean body of a household, and his wife Lady refused to give up Chang's identity, also threatened that if he finally must divorce themselves along with sophomore daughter 15-floor balcony jumped from home. Probably from that point on, Chen Chang began to consider desperate plans of the helpless.

Female boss is Wenzhou, many of fellow friends and relatives in France, I also was said to be France passport, so will again fight for only Chang Chen visited France.

He is planning to arrange everything, even arranged for his former Secretary--I can't help but smile, Chen Chang was a humane man, I have denied myself to do have become cannon fodder in a hurry.

And he does not make his wife devastated, it is said that the two main leaders also went to his home in the district listened to a fit of sobbing, and timely appealed, finally let his wife know, continued to struggle on without benefits. Chen Chang refuses to return, must be suspected and investigated economic issues, Chen Chang is to ruin, as his wife, not to mention Mrs Chang do not, I am afraid that their organs will be dragged down.

Mrs Chang finally agree with divorce, Chen Chang, know the results would come back.

And other leaders in the region is relieved.

However, there are still too many people were involved in the accident.

Education Council Secretary of the as visits team of leader back has a warning disposition; district Foreign Affairs Office presided over work years of Deputy Director was was set has was promoted to Director, is so was indefinitely shelved; at district in in created national civilization city, was eventually results this is city first, is for leadership appeared major disciplinary, was a votes whether must, by o district instead, full district cadres hard big half of results drain, was has is hand of major activities bonus and next year of annual excellent assessment performance are bubble has soup.

But even expect all this, Chen Chang, could stop the over 50 years to give up this opportunity, to a foreign country, to his freedom and love.

6

Of course, the most embarrassing of all, but it is only one month of his Secretary I.

I Fu do no other work, and my "boss" is no longer the leader, I have nothing to do and nowhere to go, daily hard work, sit, work, waiting for the Organization gave me a new arrangement.

Finally, don't know how to persuade Fu cadre is new Deputy Heads take me to be his Secretary, anyway, I have a new "boss" and the new "boss" or party Committee Standing Committee, ranking second only to the Governor.

I know a lot of people envy my good fortune speculating on my background, but only I know my true feelings, just like an old House, a married woman, if only for a month was also stigmatized as started, but hand's ending is also called an official taboo kind.

And the new "boss" take me, do not know because compassion is open-minded, or are there any other reasons why I only gingerly treading on thin ice.


Eventually, after two years, I'd quit my job, career prospects are difficult, not some random person can go pass up high, honor.

With the lawyer's qualification certificate I became a lawyer. After a few years, once I talk to clients about a tea house. When you talk about and saw a familiar figure, Chen Chang.

He looks like the boss here, I remembered, this teahouse teahouses name and when that home is the same, should be another outlet.

Over the years, they qiurenderen into a pair of ordinary men and women in the world.

Chang CHAN did not see me, probably see or recognize the people who made him Secretary of the month. I got up and quietly leave, no grudges.