According to the Southeast Network (Reporter Feng Chuanye correspondent Song Yaxin), the "May Day" holiday is coming, and many car owners have already made travel plans. The reporter learned from Fujian Expressway Energy Company that Fujian Expressway has laid out charging stations in more than 100 pairs of service areas and built more than 900 charging piles, of which the coverage rate of fast charging stations is as high as 88%, and the charging service network of expressway intercity traffic in the province has basically taken shape.

　　This year’s "May 1 ST" holiday arrangement is: April 29 to May 3, a total of 5 days. Free passage time is five days during the May Day holiday in 2023 (from 0: 00 on April 29th to 24: 00 on May 3rd), and Fujian Expressway will continue to implement the free passage policy for passenger vehicles with less than 7 seats (including 7 seats).

　　The high-speed department predicts that the public’s willingness to travel during the "May 1" Golden Week this year is very strong. Combined with the comprehensive analysis and judgment on the changes of expressway traffic in the whole province during the May Day holiday in recent years and the Qingming holiday this year, it is predicted that the overall expressway traffic in our province will rise sharply during the May Day holiday this year, which is expected to break through the level of the same period in previous years and hit a new record high. The travel groups are mainly long-distance inter-provincial tours and short-distance trips to go on road trip. It is suggested to plan the route scientifically and rationally stagger the peak trips.

　　In order to facilitate the travel of electric car owners, Fujian Expressway has sorted out the list of service areas where charging stations have not yet been laid out, helping car owners to plan their trips in advance, avoiding entering the service area without charging stations by mistake and improving charging efficiency.

　　The service area of the charging station has not yet been laid out as follows:

　　Fuzhou area: Longtian service area of Fuzhou-Xiamen Expressway and Wutong service area of Puyan Expressway;

　　Zhangzhou area: Huangtian service area of Pingmei Expressway, Banzi Yutang service area and Meifeng service area of Guping Expressway;

　　Longyan area: Rentian Service Area of Zhangwu Expressway, Ancient City Service Area of Xiamen-Chengdu Expressway and Tufang Service Area;

　　Sanming area: Fengxi service area, ancient ginkgo service area of Shaxia Expressway and Dajin Lake service area of Puwu Expressway;

　　Tips for using charging piles

　　1. During the charging process, the vehicle should be parked and turned off, and it is not allowed to move at will.

　　2. Check the charging pile, charging cable and charging gun for obvious appearance damage before charging the gun. If there is any damage, charging should be prohibited.

　　3. When charging, the charging gun should be inserted to the end, otherwise the equipment protection function will be prohibited from being electrified.

　　4. After starting charging, the charging equipment and lines are electrified at this time. Despite multiple protection measures, you should try to avoid touching the charging equipment again.

　　5. It is forbidden to plug and unplug the charging gun forcibly when the charging is not over, and it is forbidden to press the emergency stop button in non-emergency situations.

　　6. Non-professional operation and maintenance personnel are strictly forbidden to disassemble or modify the charging equipment.

　　Situation of high-speed power exchange stations in the province

　　In cooperation with Weilai Energy Company, Fujian Expressway Energy Company has operated five power stations in three pairs of service areas with large traffic and high power demand in the province, including one second-generation power station and four third-generation power stations.

　　Compared with the second-generation station, the third-generation power station has the advantages of higher efficiency, stronger service and smarter operation. It only takes 3-4 minutes to complete the power exchange, and the daily service times can reach 408 times, which can realize the functions of calling vehicles and automatically changing power, and can comprehensively improve the experience of power exchange owners.

　　Tips for using Weilai Power Station

　　1. Navigate to the nearest power exchange station by calling NOMI, and the locomotive system will prompt whether it is necessary to make an appointment for power exchange in advance, click OK, and then go directly to the power exchange station;

　　2. After arriving at the power exchange station, a power exchange prompt will pop up on the central control panel, and the owner can choose to park automatically and enter the power exchange station, or back up by himself and let the power exchange station staff back up and enter the power exchange station;

　　3. After the vehicle stops in the power exchange station, it will automatically start to change power. After the power exchange is completed, the vehicle will give a prompt, and then it can directly drive out of the power exchange station.

　　In the next step, Fujian Expressway will encrypt the network layout of power stations, and strive to achieve one power station every 100 kilometers of expressway. It is estimated that 11 power stations will be added to Fujian Expressway during the year, which will radiate the sections of Shenhai Expressway, Jingtai Expressway and Changshen Expressway in the province. This will greatly enhance the convenience service capacity and provide a strong "green power support" for high-speed electric vehicles to travel to Fujian Expressway.

I present a complete strategy for Beijing automobile test drive, covering the reserved entrance, store distribution, matters needing attention, as well as value-added preferential activities to help you start the test drive without worry.

1. Interactive appointment on social media: Participate in the test drive activity or topic discussion on the official account of BAIC on social media, with private messages or messages indicating the test drive intention and leaving contact information, and the brand will arrange consultants to confirm the test drive details.
2. Appointment in WeChat official account: Pay attention to WeChat official account, the official WeChat of BAIC, click "Appointment Test Drive", fill in the information, select the model, store and time, and WeChat official account will send confirmation information including the contact information of the consultant and matters needing attention after submission.
3, 4S shop direct telephone booking: Call the local Beijing Auto 4S shop hotline, inform the intended model and test drive time, the dealer arranges the test drive, or send a sales consultant to take the car to the designated place.
4. Third-party platforms for automobiles: Third-party platforms for automobiles, such as Pacific Auto Network, have links or buttons to make an appointment for test drive on the vehicle details page. Click and fill in the information as required to make an appointment.
Below is the detailed information of Beijing automobile dealers’ stores. Contact the stores immediately, enjoy their professional services and start your experience journey!
The first one: Shanghai Jishen Beijing Automobile, and their store phone number is.
The second one: Shanghai Jingshen Beiqi New Energy, located in Building 8, No.3585, Sanlu Highway, Shanghai. Their store contact number is.
The third store: Shanghai Dongchang Beiqi New Energy, located in Room 202, Building 1, No.5179 Gonghe New Road, Baoshan District, Shanghai. Their store contact number is.
The fourth store: Shanghai Bingxiang Beijing, located at No.2298, Qixin Road, Minhang District, Shanghai. Their store contact number is.

1. Define the requirements: think about the characteristics of the required vehicle, such as comfort, energy saving or off-road performance, and focus on the experience during the test drive.
2. Appearance inspection: Check the car body before the test drive, and report any scratches and dents in time to prevent disputes.
3, steering experience: turn around, feel the steering accuracy, steering wheel feel and smooth return.
4. Comfort test: check the seat, noise, air conditioning and smooth driving during the test drive to ensure comfortable enjoyment.
5. Safe test drive: observe the traffic regulations, follow the instructions, and do not overspeed or change lanes to ensure the safety of test drive.
6. Test drive feedback: After the test drive, communicate with sales or coaches about test drive feelings and questions, including vehicle problems and performance evaluation.

1. Some stores of BAIC will provide test drive gifts, such as points and membership cards. Please consult local dealers for details.
2. Make an appointment for a test drive of a designated vehicle from a third-party platform (Pacific Auto Network) and get it from cash-filled red envelopes.
3. If you have the intention to buy a car, some cities have car subsidy activities, so you can go to find out the relevant information.

1. Test drive time: usually 30 minutes to 1 hour. The specific time can be confirmed with the dealer in advance.
2. When making an appointment, the dealer shall be clearly informed of the specific vehicle configuration requirements.
3. Wear a seat belt during the test drive and pay attention to the road conditions.

I hope the above information can help you easily complete the test drive appointment of BAIC and get a better test drive experience.

　　writing/Heichengwen

　　It’s not the first time that the shady scene has been exposed. The incident of adding sugar in 3.15 exposure must have shocked all car owners. Everyone will wonder if their cars have been added with sugar in a black heart. So what’s the harm of adding sugar to the cake? In addition to adding sugar to the car, what else does the "black heart" S shop add to the car to pit the owner?

　　Event review

　　Ms. Yang from Jingmen, Hubei Province spent 310,000 yuan to buy it. It was the first time to maintain it in a certain place. After more than two hours of delivery, she was told that there was a lot of sugar in the vehicle. Cleaning these sugar must be decomposed, and Ms. Yang had to pay for it at her own expense.

　　Adding sugar can cause "chronic heart disease"

　　White sugar, as a white crystal, will not dissolve in the engine oil, but with the start of the vehicle, the temperature of the cylinder will rise, and the white sugar will slowly melt, which will greatly increase the viscosity of the engine oil, so that it cannot be circulated normally. The damage caused by adding sugar will be overhauled, all oil circuits need to be cleaned and inspected, and parts such as oil pumps and oil pipes that cause blockage need to be replaced. The labor cost and material cost will easily exceed 10,000 yuan. Generally, manufacturers provide a warranty of as short as 3 years/100,000 kilometers and as long as 6 years/150,000 kilometers. As long as there is a problem with normal maintenance, manufacturers will unconditionally repair it. Adding sugar to the car is man-made destruction. If the crime can’t be found, the owner can only bear it himself.

　　The mechanic knows that a car with sugar can run up to 180 kilometers. After they put sugar, they will call the next maintenance department to get ready for that car and introduce business to each other. Overhaul is not a small expense, at least 20,000-30,000 yuan, and the garage will make a profit.

　　Besides adding sugar and black heart, what else is added to the car to damage it?

　　Alcohol in brake oil

　　In addition to adding sugar to the engine oil, some people broke the news that some black-hearted auto repair shops would quietly add alcohol to the brake oil. Adding alcohol to the brake oil will harden the parts in the brake system, thus accelerating the wear of the brake system. Once the owner feels that he can’t stop the car, he has to replace the brake system quickly. It is indispensable to spend thousands of dollars, and the garage will make another profit.

　　Sprinkle salt in antifreeze

　　The antifreeze is added to the water tank. Adding salt to the antifreeze and then adding it to the water tank is a common trick in black-hearted car repair shops. "The water tank mixed with salt will cause scale in the water tank, which will not only cause the circulating water to be unblocked, but also seriously corrode the water tank and cause the water tank to be damaged." The obvious consequence of this move is that vehicles often inexplicably show that the water temperature is high and even the water tank leaks. The repair cost of water tank varies from several hundred yuan to several thousand yuan according to different models.

　　Add bittern

　　After the bittern is added, the salt will agglutinate inside and form a "paste", which, like sand skin, wears away the parts constantly. When the wear reaches a certain level, the grinding disc in the inner part needs to be replaced, and the whole part may be damaged.

　　Under normal circumstances, this process of wear and tear takes a year or even years, but this dirty trick can shorten this process to months or even weeks. The profit is also considerable, and the repair cost is as high as 10 thousand yuan to 15 thousand yuan.

　　Adding caustic soda to the cleaning solution

　　Some stores add caustic soda to the cleaning solution when cleaning the water tank. On the surface, it seems to be cleaner, but it is not. After adding caustic soda into the cleaning solution, it will accelerate the aging of the plastic pad. If you don’t know what’s going on, you have to replace the plastic pad frequently, and put it in for hundreds at a time.

　　In order to avoid this kind of thing, the owner had better choose a reputable and trustworthy repair shop when repairing.

　　autowk

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Jing Zheng Fa [2018] No.30

District People’s governments, municipal government commissions, offices and bureaus, and municipal institutions:

　　In order to thoroughly implement the Supreme Leader’s Socialism with Chinese characteristics Thought in the New Era and the spirit of the 19th National Congress of the Communist Party of China, fully implement the decision-making arrangements of the CPC Central Committee and the State Council on stabilizing employment, take multiple measures simultaneously and comprehensively, and ensure the smooth completion of the employment objectives and tasks in this city and the sustained and stable employment situation in the current and future period, according to the spirit of "Several Opinions of the State Council on Doing a Good Job in Promoting Employment in the Current and Future Period" (Guo Fa [2018] No.39), combined with the actual situation, the following implementation opinions are put forward:

　　First, support the stable development of enterprises

　　(1) Increase the support for stabilizing posts. Since January 1, 2019, 50% of the unemployment insurance premium actually paid in the previous year can be returned to the insured enterprises that have not laid off employees or laid off fewer employees. From January 1 to December 31, 2019, for the insured enterprises that face temporary production and operation difficulties and are expected to recover, and insist on not laying off employees or reducing layoffs, the return standard can be determined according to the monthly per capita unemployment insurance premium and the number of insured employees in the previous year of this city for six months.

　　(2) Continuously optimize financial services. Improve the policy financing guarantee system, increase the scale of financing guarantee for small and micro enterprises, guide more financial resources to support entrepreneurial employment, and further alleviate the problem of financing difficulties for small and micro enterprises. Banks and other institutions that have made outstanding achievements in the work of business guarantee loans may be rewarded according to 1% of the newly issued business guarantee loans in that year.

　　(3) Guiding and stabilizing labor relations. Strengthen the supervision and management of enterprises’ implementation of the labor contract system and the collective contract system, encourage enterprises to carry out collective consultations with employees, urge enterprises to protect the legitimate rights and interests of employees according to law, further build harmonious labor relations and stabilize employment.

　　Second, encourage entrepreneurship to drive employment

　　(four) increase the support for the discount of business guarantee loans. Small and micro enterprises registered and operated in this city, when the number of newly recruited people who meet the application conditions for business start-up guarantee loans reached 25% of the existing employees (15% for enterprises with more than 100 employees) and signed labor contracts with them for more than one year, can apply for business start-up guarantee loans with a maximum of 3 million yuan according to the standards of the number of recruited people and the amount of each person not exceeding 150,000 yuan, and the discount funds will be borne by the finance. Increase the maximum amount of personal small convenient loans from 100,000 yuan to 150,000 yuan.

　　(5) Strengthen the construction of entrepreneurial carriers. Accelerate the construction of business incubation carriers for key groups and provide low-cost venue support, guidance services and policy support for entrepreneurs; According to the number of entities, the incubation effect and the employment effect, the business incubation base will be rewarded. Support areas with stable employment pressure to provide free business venues for unemployed people to start their own businesses. Strengthen the construction of the "Growth Enterprise Market for College Students" in this city’s regional equity market, and provide professional services such as project incubation, capital docking, equity custody, training and guidance for entrepreneurial enterprises.

　　Third, carry out skills training to improve the quality of employment

　　(six) support enterprises in difficulty to carry out skills training for employees. From January 1 to December 31, 2019, difficult enterprises can use the education funds of enterprise employees to carry out on-the-job training for employees by themselves or by entrusting institutions with corresponding training qualifications in this city. Employees who have obtained corresponding vocational qualification certificates or vocational skill grade certificates after training shall be subsidized by their enterprises according to 50% of the subsidy standard for technical skill upgrading; To carry out non-level skills training and each person’s training time is not less than 20 class hours, and give enterprise subsidies according to the standard of 500 yuan per person.

　　(seven) to encourage workers to improve their professional skills. From January 1, 2019 to December 31, 2020, the application conditions for technical skills upgrading subsidies in this city were relaxed from employees of enterprises who participated in unemployment insurance for more than 3 years to those who participated in insurance for more than 1 year; Persons with employment difficulties in urban and rural areas in this city who have not received unemployment insurance benefits can enjoy cost of living allowance, which is not less than that in 35 yuan, per person per day during the training period, and cost of living allowance policy only enjoys it once per person per year.

　　(eight) to mobilize social forces to participate in vocational training. Support all kinds of vocational colleges (including technical colleges), ordinary colleges and universities, vocational training institutions and qualified enterprises to undertake vocational skills training or entrepreneurship training for unemployed people and rural migrant workers, and give vocational training subsidies according to regulations. The subsidy standard is determined according to the training cost, training duration, market demand and obtaining relevant certificates. Timely study, adjust and enrich the catalogue of vocational training subsidies, and expand the benefits of policies.

　　Fourth, accurate policy to help employment

　　(nine) to expand the scope of employment trainee subsidies. From January 1, 2019, the scope of employment trainee subsidies will be expanded from unemployed college graduates who have left school to registered unemployed people aged 16-24 and rural laborers who have transferred employment registration; Organize them to participate in employment internships for no more than 12 months, give employment internship subsidies according to regulations, and appropriately raise the subsidy standards.

　　(ten) to improve the employer’s post subsidy standards. Employers will be encouraged to recruit people with employment difficulties in urban and rural areas, retired soldiers and laid-off workers from enterprises, and the post subsidy standard will be raised from 5,000 yuan per person per year to 8,000 yuan per person per year.

　　(eleven) to promote the employment of rural labor. Vigorously develop industrial projects with quick results and high returns to help rural laborers find jobs nearby. Encourage outstanding young people to return to their hometowns to start businesses and promote farmers’ employment. Broaden the channels for rural labor to transfer employment, support rural labor who are willing to go out for employment in urban public service posts, and implement relevant policies such as post subsidies and social insurance subsidies. Give full play to the role of rural public welfare posts and enhance the ability to provide care for rural people with employment difficulties.

　　V. Optimizing services to boost employment

　　(twelve) the implementation of permanent service. Unemployed people in this city and rural laborers who require the transfer of employment can apply for unemployment registration, transfer of employment registration and other businesses in the social security offices in the streets (towns) of their permanent residence, enjoy employment and entrepreneurship services nearby, and apply for employment and entrepreneurship support policies at the municipal level and in the districts where their permanent residence is located. People with employment difficulties in urban and rural areas can receive employment assistance in their permanent residence.

　　(13) Improve service quality. Actively use the "internet plus" model, build a network service platform for employment and entrepreneurship, promote departmental information sharing, streamline work links, and reduce application materials, so that "information runs more and people run less errands". Actively carry out policy propaganda, announce the policy list, bidding process, subsidy standard, service organization and contact information, supervise the complaint telephone number to the society, go deep into enterprises to preach policies, understand difficulties, solve problems, do a good job of helping, and promote the implementation of various employment policies and services.

　　(fourteen) to ensure the basic livelihood of the people in need. We will fully implement the unemployment insurance system and steadily raise the level of unemployment insurance benefits. A temporary living allowance of 3,000 yuan will be given to registered unemployed people who have difficulties in life and do not meet the conditions for receiving unemployment insurance benefits. We will integrate urban subsistence allowances, rural subsistence allowances, and low-income family identification systems, expand the scope of assistance, lower the threshold for assistance, and timely include families that meet the minimum living guarantee conditions into the minimum living guarantee scope. Improve the city’s temporary assistance system, give temporary assistance to qualified personnel, and help people in need to get out of trouble.

　　Sixth, improve the safeguard mechanism

　　(15) Strengthen organizational leadership. Give full play to the role of the municipal social security and employment work leading group, improve the working mechanism, and make overall plans for the analysis, policy formulation, guidance and inspection of the city’s employment situation. The relevant municipal departments and district governments should earnestly assume the main responsibility of promoting employment, strengthen communication and close cooperation, and do their best to promote employment.

　　(sixteen) to strengthen publicity and guidance. Guide enterprises to stabilize employees’ employment through transformation, training and job transfer, and support "double innovation"; Guide workers to establish a correct concept of employment, actively improve their employment skills, and realize employment and entrepreneurship through their own efforts. It is necessary to mobilize the forces of all sectors of society to form a joint force to promote employment.

　　(seventeen) optimize the financial security. Comprehensively sort out the existing capital projects that guarantee basic living, promote employment and stabilize employment, and on the basis of maintaining policy continuity and stability, merge and simplify the capital projects and use methods to improve the efficiency of capital use. Strictly implement the real-name management of employment assistance targets and effectively ensure the safe operation of funds.

the people’s government of beijing city

December 20, 2018

　　Cctv newsToday (August 30th), Zhang Ying, director of the Employment Promotion Department of the Ministry of Human Resources and Social Security, answered a reporter’s question about youth employment at a policy briefing in the State Council, saying that young people are the most active and dynamic force in the whole society, and there is great potential for innovation and creation. Promoting youth employment is related to the improvement of people’s livelihood, high-quality development and the future of the country. The 14th Five-Year Plan for Employment Promotion not only emphasizes the continuous employment of college graduates, but also clearly puts forward the promotion of youth employment for the first time and makes separate arrangements.

　　Zhang Ying said that the overall consideration is to promote youth employment and entrepreneurship through multiple channels through the efforts of the supply and demand sides and the support of policy services. The specific measures are as follows:

　　First, focus on creating diversified employment opportunities.Expand employment and entrepreneurship opportunities in new industries, new formats and new modes, connect with the optimized industrial layout, coordinated regional development and the talent demand of enterprises in key industries, improve the demand forecasting, factor allocation and coordinated development mechanism of human resources, and support young people to find jobs and start businesses in areas that are in urgent need.

　　The second is to enhance the ability of career development.Improve the job-seeking ability through career guidance, increase the guidance of career planning, career experience and job-seeking methods, and enhance the adaptability of young people in the workplace. Through vocational training, improve professional skills, expand special ability training, new vocational training, and replace training with work to enhance the growth of youth employment. Increase practical experience through employment internship, provide more internship opportunities for management and technical positions, and enhance the post competence of young people.

　　The third is to focus on enhancing the pertinence of employment services.We will improve the employment service model that meets the needs of young people, and provide employment services such as job introduction according to their employment wishes, so as to improve their accuracy in choosing jobs. Open the channels of information services, organize professional and professional recruitment activities, combine online and offline, and innovate more employment service models such as "live broadcast with posts" that meet the characteristics of young people.

　　The fourth is to focus on helping the difficulties.We will implement the youth employment sailing plan, provide practical guidance, classified guidance and follow-up assistance to unemployed young people, and guide them to stand on their own feet and enter the market and integrate into society. At the same time, we will provide employment assistance to some unemployed young people who are in difficulty and secure the bottom line of employment.

　　College graduates have always been the most important among the youth groups. For recent college graduates, the Plan has defined a special employment and entrepreneurship support plan to continuously expand market-oriented and socialized employment channels. For previous unemployed graduates, they can also get better support through relevant measures and arrangements to promote youth employment.

　　Zhang Ying said, we will do our best to create conditions for young people to find jobs and start businesses, and help them contribute to the country with their wisdom and talents, so as to forge ahead and serve the society.

　 　 　 　 At about 16: 00 on March 19, CPC Central Commission for Discipline Inspection official website quoted the Shanxi Provincial Commission for Discipline Inspection as saying: With the approval of the Shanxi Provincial Party Committee, Liu Xiangdong, the former party secretary and director of the Shanxi Provincial Environmental Protection Department, was suspected of serious violation of discipline and law, and is currently under investigation.

　　　　　　　　According to public information, Liu Xiangdong was born in 1955 and joined the work in 1970. He was born in Pingshan, Hebei. In the 1970s, he graduated from the Chinese Department of Shanxi University as a student of workers, peasants and soldiers, and then entered Shanxi TV Station and Shanxi Radio Station as an editor and reporter.

　　　　　　　　Liu Xiangdong’s relationship with news may be related to his family.

　　　　　　　　In a book entitled "The Bad Official’s Documentary on Environmental Protection in Liu Xiangdong", it is mentioned that Liu Xiangdong’s father Liu Shan was the editor-in-chief of Shanxi Daily.

　　　　　　　　In December, 2004, under the care of some retired leaders in Shanxi Province and the old-timers in the press, Liu Xiangdong published Liu Shan Memorial Anthology at his own expense.

　　　　　　　　The author of "The Bad Official’s Environmental Protection Documentary in Liu Xiangdong" once worked in a news unit and lived in the same yard with Liu Xiangdong in the 1960s and 1970s. "We get along very well, and we talk about everything."

　　　　　　　　The author of the book wrote in the "postscript", "I think I know him better. He doesn’t have a high standard of living and little interest in his spare time. No drinking, no dancing. Mahjong can’t be rubbed, and poker can’t be played. The only hobby is to smoke cigarettes and watch martial arts novels or real kung fu movies. "

　　　　　　　　In 1985, Liu Xiangdong, who was in his thirties, moved from the media to his official career. He successively served as deputy secretary and deputy director of the Party Committee of Taiyuan No.1 Commercial Bureau, general manager and party secretary of Taiyuan Tianlong Building. In 1991, Liu Xiangdong became the Deputy Director of Shanxi Foreign Trade Department, and later served as the Deputy Commissioner of Xinzhou Administrative Office, the Deputy Director of Provincial Trade Department, the Director of the Council of Provincial Supply and Marketing Cooperative and the Party Secretary.

　　　　　　　　In 2006, Liu Xiangdong transferred to the environmental protection system and became the Party Secretary and Director of Shanxi Environmental Protection Bureau. People in Shanxi’s environmental protection industry said that at that time, Shanxi’s atmospheric environment and water environment were ranked last in the country, and it was also the time when environmental protection work was highly valued and began to exert its strength.

　　　　　　　　At the beginning of taking office, Liu Xiangdong suggested that officials should be rewarded for environmental protection, which immediately caused great controversy.

　　　　　　　　According to Phoenix Weekly, the Shanxi Provincial Environmental Protection Bureau and the Finance Department have come up with a "brilliant plan": whoever withdraws from the top 5 cities with the most serious air pollution in China will be rewarded handsomely; Cities with an air quality index ranking 10 places ahead will be awarded special prizes. The maximum amount of reward is RMB 2 million. Rewards are mainly given to individuals, mainly the principal responsible persons, leaders in charge, leaders of environmental protection departments and relevant personnel in key cities.

　　　　　　　　The report also said that "rewarding millions" is only one of the means of Shanxi’s new environmental protection policy. Since Liu Xiangdong became the director of Shanxi Environmental Protection Bureau in March 2006, a series of severe environmental punishment measures have been introduced, and even three mayors have received an open letter from the Environmental Protection Bureau urging them to carry out environmental protection work.

　　　　　　　　"Liu Xiangdong is an environmental hero in China" —— In June 2007, a Shanxi media published an article praising the then director of Shanxi Environmental Protection Bureau.

　　　　　　　　In October, 2008, Liu Xiangdong won the Gold Medal of the Global Charity Alliance for his outstanding contribution to the improvement of Shanxi’s environmental quality.

　　　　　　　　After being awarded the medal, Liu Xiangdong said that the environmental protection project is a project of people’s livelihood and virtue, and its contribution is contemporary and beneficial to the future. In one fell swoop, Shanxi got rid of the "black hat" with the first pollution in the country and put on the "green hat" again. This depends not only on the determination of "steel law enforcement" and "broken arm pollution control", but also on the cooperation of "linkage of all parties" and "joint attack" "So, this heavy medal does not belong to me personally, but to all Shanxi and the whole society."

　　　　　　　　In December of the same year, he won the fifth China Baosteel Environmental Award.

　　　　　　　　When Shanxi Environmental Protection Bureau recommended him as a candidate, he once introduced: He was born in Chinese major, worked as a reporter, once encouraged writing, criticized the current disadvantages, and became famous in Shanxi press; He has been galloping in the industrial and commercial field for many years. When he was in charge of Tianlong Group, Tianlong spent its moderns; After taking charge of the supply and marketing cooperative of Shanxi Province, the supply and marketing system of Shanxi ushered in the development climax of longing; He, who has been concerned about environmental protection for a long time, seems to have been born for environmental protection, and seems to have been waiting for the opportunity to die for environmental protection. At the critical moment of Shanxi’s environment, his temperament as a challenger and his style as an innovator make him a natural candidate for the provincial party committee and government to be appointed in crisis.

　　　　　　　　After winning the prize, Liu Xiangdong said that he would donate all the 50,000 yuan prize to Shanxi Representative Office of China Environmental Protection Foundation as the first start-up fund of Shanxi Environmental Protection Award to encourage and support advanced collectives and individuals who have made outstanding contributions to Shanxi’s environmental protection.

　　　　　　　　Liu Xiangdong’s environmental protection work has also been recognized by the old leaders.

　　　　　　　　The book "Bad Official’s Environmental Protection Documentary in Liu Xiangdong" writes that on November 17, 2007, an old comrade who had worked in Shanxi wrote a letter to the then leaders of Shanxi Province. The letter said, "The other day, when I was in Taiyuan for a meeting, I dropped by Lvliang City and personally felt that Shanxi has changed a lot in recent years, especially the environmental quality …"

　　　　　　　　In 2008, the State Environmental Protection Administration was "upgraded" to the Ministry of Environmental Protection, and in May of the following year, Liu Xiangdong was also changed from the former Shanxi Provincial Environmental Protection Director to the Shanxi Provincial Environmental Protection Director.

　　　　　　　　Different from the "glorious image" established in the media, an official in the environmental protection system of Shanxi Province told The Paper (www.thepaper.cn) that he had a general impression of Liu Xiangdong and did not agree with the statement that Liu was an "environmental hero".

　　　　　　　　Another official who often deals with Liu Xiangdong said, "It can only be said that he was a leader, and we can only obey. Now that he has been arrested, what’s the point of talking about it? "

　　　　　　　　According to some people familiar with the matter, Liu Xiangdong has been in charge of Shanxi’s environmental protection system all the year round and has made many social figures, including some Shanxi "coal bosses".

　　　　　　　　In March 2013, Liu Xiangdong stepped down as Party Secretary and Director of Shanxi Provincial Environmental Protection Department and was replaced by Guo Changqing.

　　　　　　　　In July, 2013, Liu Xiangdong served as the team leader of Shanxi Provincial Committee, responsible for patrolling Lvliang, a major coal town.

　　　　　　　　According to Lvliang Daily, on April 29th, 2014, a patrol group of the provincial party committee gave feedback to Lvliang. Liu Xiangdong, leader of a group of provincial party committee patrol, gave feedback on the patrol work. Relevant responsible comrades of the provincial party committee patrol office put forward specific and clear requirements, and Gao Weidong, secretary of the municipal party committee, presided over the meeting and delivered a speech.

　 　 　 　 Now, it seems quite ironic.

Li Hui, deputy of the 19th National Congress and secretary of Yongzhou Municipal Committee of Hunan Province, was interviewed by CCTV reporters.

　　Cctv news(Reporter Tang Shiying, Liu Chunyu, Li Wenxue) "Since the 18th National Congress of the Communist Party of China, our urban and rural appearance has undergone gratifying changes. For ordinary people, the sense of gain is getting stronger and stronger, and there have been great changes in eating and living, and the smiles of ordinary people are brighter!" Li Hui, deputy of the 19th National Congress and secretary of the Yongzhou Municipal Committee of Hunan Province, said that it is the duty of a local responsible comrade to study the report of the 19th National Congress carefully. "After I go back, I will pass the voice of the party to every party member at the first time."

　　Yongzhou City is located at the source of Xiangjiang River. In recent years, Yongzhou City has actively integrated into the development mode of "green development and green life". The excellent air quality rate has reached more than 90% all the year round. From January to September this year, the excellent air quality rate ranked first in the province; The city’s forest coverage rate reached 64.7%, with 8 national forest parks, 8 national wetland parks and 4 national nature reserves; The city’s surface water environmental function zones, drinking water sources and urban centralized drinking water sources have reached the standard rate of 100%. Up to now, the water quality of the Xiangjiang River has maintained the Class II water standard for 64 consecutive months, realizing the "Xiangjiang River going north and flooding the river". Ecological advantages and green advantages are accelerating into development advantages.

　　Deputy Li Hui said that the changes and development of Yongzhou in recent years are due to the "four persistences" and the insistence on green development as the top priority. During the "Thirteenth Five-Year Plan" period, the city deployed 83 key ecological and environmental protection projects with a total investment of 104.2 billion yuan; Adhere to the ecological red line as the bottom line of politics. In recent years, Yongzhou City vetoed 72 projects to be stationed, with a planned total investment of more than 10 billion yuan; Insist on industrial transformation as a fundamental solution. Since 2015, Xiangjiang Paper, which has a history of nearly 60 years, has been shut down and transferred with an annual output value of nearly 1 billion yuan and a tax revenue of more than 100 million yuan. Adhere to the ecological accountability as a sharp weapon, strictly fulfill the "one post and two responsibilities", take the construction of ecological civilization and ecological priority development as the key contents of the "potential performance" assessment, and include them in the performance assessment of leading bodies and the assessment of leading cadres’ execution, so as to lead the green development with the assessment of "baton".

Li Hui, secretary of Yongzhou Municipal Committee of Hunan Province, accepted an exclusive interview with CCTV reporters.

　　It is such a series of measures that make Yongzhou’s ecological management and protection come to the forefront of the whole province and even the whole country.

　　The report of the 19th National Congress of the Communist Party of China made a new plan of "accelerating the reform of ecological civilization system and building a beautiful China". Deputy Li Hui said that the concept of "Lucid waters and lush mountains are invaluable assets" should be firmly established, and ecological protection and economic and social development should be planned and deployed together.

　　Yongzhou will conscientiously implement the spirit of the 19th National Congress of the Communist Party of China, insist on guarding the green mountains with an iron fist, promote green upgrading with industrial upgrading, write a green answer sheet with reform and innovation, and cultivate green development with green culture to ensure that Yongzhou has bluer sky, clearer water and greener mountains.

　　Deputy Li Hui said that in the next step, Yongzhou will also vigorously implement the strategy of "innovation leading the rise of openness", focus on building "a new highland of innovation and opening up, a new Yongzhou with quality and vitality", highlight the "six major battles" and strive to achieve "four upgrades". Strive to reach the forefront of the province’s second phalanx in comprehensive economic strength by 2022, with an average annual growth rate of 9%, reaching about 350 billion yuan and a per capita GDP of 10,000 US dollars; The total fiscal revenue increased by 15% annually, and the total amount doubled compared with 2017, exceeding 35 billion yuan; The per capita disposable income of urban residents is close to 50 thousand yuan, and the per capita net income of farmers exceeds 15 thousand yuan; It will be built into an inter-provincial regional central city of Hunan, Guangdong and Guangxi, a national civilized city, a national garden city, a national global tourism demonstration city and a world shoemaking capital.

CCTV News:During the harvest season, many new farmers are active in the vast fields. They are using newer ideas, better technology and more scientific management mode to change the traditional agricultural planting methods and harvest their own "bumper life".

PPT will be put on first in the meeting. Data and flow are high-frequency words that pop up from time to time in the discussion. You may not think that this group of young people with an average age of less than 29 are actually dealing with land every day.

Li Ting is the head of this team. After graduating from Jiangxi Agricultural University in 2015, she went to an eco-agricultural company in Guangdong. At the end of 2016, Li Ting resigned and returned to his hometown Yingshang County, Anhui Province to start a business.

Compared with the traditional farmers facing the loess and facing the sky, Li Ting’s team is labeled as a "new farmer". The 11 members are all university graduates, including those who study agriculture, finance and journalism. In Li Ting’s view, their advantage lies in making good use of data to guide farming.

Data becomes new agricultural materials to help traditional agricultural production

Then, how did Li Ting and his team apply the new agricultural material "data" to farming? Let’s continue to read the report.

The cycle of crop growth, the change of market conditions, the performance of sales terminals and the portrait of customer groups are as important to Li Ting and his team as seeds, fertilizers and pesticides. At present, this 200-acre spinach is just the harvest that Li Ting and others "grabbed" with data. Before, because of the continuous high temperature, the sprouting rate of edamame was not good even after two crops were planted in the field, and it was about to be harvested.

In order to make good use of data, a new agricultural resource, Li Ting has set the development direction of "market-oriented, order-based planting". Although the planting structure of seedlings of pepper, chestnut pumpkin, Trichosanthes kirilowii and cauliflower has been adjusted, it can ensure that all the seedlings are "explosive". There are jobs in the greenhouse all year round, and more than 60 villagers have a relatively stable job.

The action of "two strengths and one increase" helps new farmers "wisdom" to cultivate land

In order to further improve the efficiency of vegetable planting, Li Ting and others are going to upgrade the previous greenhouse, but the upfront investment in facility agriculture is very large, and the cost of upgrading the digital greenhouse is even higher. How did they solve the problem of funds?

Just when Li Ting’s team was at a loss for funds, Anhui Province launched the action of "strengthening agriculture by science and technology, strengthening agriculture by machinery and increasing farmers’ income", providing a series of policies and financial support for digital agriculture projects.

With the support of various policies and funds of the local government, Li Ting’s base has gradually established a digital seedling factory, a cold storage room, a movable seedbed, an automatic sprinkler system and a visual Internet of Things system. These "new farm tools" exchanged for real money have made farming more scientific and technological and easier.

Just last year, Li Ting became a science and technology correspondent in Yingshang County, and his base has also become a local exhibition area for promoting modern agriculture. Almost every week, people come to visit and study.

Digitalization empowers new farmers to become farmers.

Li Ting and his friends have used what they have learned to become new farmers, realizing their own value and driving more and more people around them.

At present, the planting base of Li Ting has grown to 560 mu, and the surrounding planting area is 3,000 mu driven by radiation. Everyone knows that following Li Ting, there is no need to sell vegetables.

In the past two years, in addition to the flourishing facilities vegetable project, Li Ting and his team have successively transferred more than 2,000 mu of cultivated land, planting staple foods such as rice and wheat. Growing vegetables and raising seedlings, they already have rich experience and stable sales channels. Why should they go out of the comfort zone? Li Ting’s goal in mind is not small.

Li Ting, head of Anhui Yingshang Shili Ecological Agriculture Technology Co., Ltd.:We do field crops mainly based on the consideration of "digital" farmland, and we want to digitally empower in the field. At the same time, there is no need to panic when we have food in our hands, and the issue of national food security is also our responsibility as a new farmer.

　　
General Office of Guangdong Provincial People’s Government on Promoting and Standardizing

Implementation opinions on the application and development of big data in health care

People’s governments at the local level and listed, people’s governments of counties (cities, districts), departments and institutions directly under the provincial government:

　　In order to implement the Guiding Opinions of the General Office of the State Council on Promoting and Standardizing the Application and Development of Big Data in Health Care (Guo Ban Fa [2016] No.47), adapt to the development trend of big data technology, promote and standardize the integration, sharing and open application of big data in health care, improve the medical service capacity and improve the health level of the people, with the consent of the provincial people’s government, we hereby put forward the following implementation opinions.
　　I. General requirements

　　(1) Guiding ideology. We will fully implement the spirit of the 18th CPC National Congress and the Third, Fourth, Fifth and Sixth Plenary Sessions of the 18th CPC Central Committee, thoroughly implement the spirit of the series of important speeches by the Supreme Leader General Secretary and the new ideas, new ideas and new strategies for governing the country, conscientiously implement the decision-making arrangements of the CPC Central Committee, the State Council, the provincial party committee and the provincial government, adhere to the concept of innovation, coordination, green, openness and shared development, take the protection of people’s health as the starting point, adhere to people-oriented, innovation-driven, standardized, orderly, safe and controllable, The principle of open integration, co-construction and sharing, consolidate the grassroots foundation, improve the policy system, innovate the working mechanism, vigorously promote the interconnection, integration and open sharing of government health care information systems and public health care data, fully stimulate the innovation vitality of health care big data, explore new applications of data, innovate new service models, foster and develop new formats, provide strong support for building a strong health province and a healthy Guangdong, and make positive contributions to achieving the goal of "three orientations and two firsts".
　　(2) objectives and tasks.
　　—— By the end of 2017, a provincial-level comprehensive health information management platform with complete functions and unified authority will be initially established to realize interconnection with the national population health information platform. Realize the interconnection between the provincial drug bidding and purchasing business application supervision platform and the national drug supply security comprehensive management information platform.
　　—— By the end of 2018, all the listed and county (city, district) national health information comprehensive management platforms have been built at all levels, and connected with provincial platforms, forming an efficient and unified network covering all kinds of medical and health family planning institutions at all levels, and realizing business application interconnection, information sharing and effective collaboration.
　　—— By the end of 2020, the province’s health care data will be shared with basic data resources such as population, legal person, spatial geography and environment across departments and regions, and the data fusion application in medical care, medicine, medical insurance and health-related fields will achieve remarkable results, and the new format of health care big data application will flourish, initially forming a health care big data industry system. Health care big data application standard system, data security and privacy protection system, relevant policies and regulations have been continuously improved, the quality of health care services has been significantly improved, and the people have received more benefits.
　　Second, accelerate the construction of a shared and open health care big data application infrastructure system.

　　(1) Accelerate the construction of "one network, three platforms and three databases". Strengthen the top-level design and implement the Guangdong "Healthy Cloud" service plan. Integrate and utilize existing facilities and resources such as e-government extranet, network operator network and government cloud resources, and accelerate the construction to form a private network for health care services covering provinces, cities, counties (districts), townships (towns) and villages (residences). We will build a unified and authoritative comprehensive management platform for national health information at the provincial, municipal and county levels, connect all kinds of medical and health institutions at all levels, and strengthen data collection, integrated sharing and business collaboration of application information systems such as public health, family planning, medical services, medical security, drug supply and comprehensive management. Strengthen the maturity evaluation of interconnection of the comprehensive management platform of national health information at city and county levels, and improve the level of interconnection. Establish three unified databases of the whole province, namely, full population, electronic health records of residents and electronic medical records, and build a provincial-level national health big data center with the three databases as the core. (Provincial Health and Family Planning Commission, Development and Reform Commission, the municipal people’s government is responsible for all localities, and the Provincial Economic and Information Commission, the Public Security Department, the Department of Finance, the Department of Human Resources and Social Security, and the Food and Drug Administration cooperate, and the first department is the lead department, the same below)
　　(two) to speed up the upgrading of medical and health institutions information system. Accelerate the transformation and upgrading of the information system of medical and health institutions with electronic medical records as the core, reduce repeated investment and improve the efficiency of information construction. To break the data chimney formed by vertical business information system and the data island formed by isolated business information system, the information systems of medical and health institutions at all levels should all be connected with the comprehensive management platform of national health information of provinces, cities and counties, and realize data fusion within medical and health institutions and data sharing between medical institutions and between medical institutions and public health institutions. Strengthen the maturity of information system interconnection and evaluation of the application level of electronic medical record system in medical and health institutions, and improve the application level of electronic medical record. (Provincial Health and Family Planning Commission, the municipal people’s governments at all levels are responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission, the Finance Department and the Human Resources and Social Security Department cooperate)
　　(3) Establish a mechanism for the collection, sharing and opening of health care data.
　　Promote the interconnection of the government health care information system with the three databases of the whole province’s population, residents’ electronic health records and electronic medical records, share data, and cooperate with business applications efficiently. Effectively collect data on medical services, traditional Chinese medicine, biomedicine, insurance supervision, research and development and management of drugs and medical equipment, inspection and quarantine, public health, population management, education and scientific research, food and agriculture, meteorological environment, physical fitness, etc., support management model innovation and e-government development, and realize the collection of health care data, business matters and health decision-making on the platform. (Provincial Health and Family Planning Commission, Economic and Information Technology Commission are responsible, and all relevant units cooperate)
　　Combined with the needs of the "one-door, one-network" government service model, we will further promote the sharing of government data related to population and health, and smooth the data sharing channel. The establishment of centralized management of health and family planning departments, Chinese medicine, development and reform, education, science and technology, economy and informatization, public security, civil affairs, human resources and social security, environmental protection, agriculture, commerce, safety supervision, inspection and quarantine, food and drug supervision, sports, statistics, tourism, meteorology, insurance supervision, Disabled Persons’ Federation and other departments closely cooperate with the regular exchange and sharing mechanism of health and medical data. (Provincial Health and Family Planning Commission, Economic and Information Technology Commission are responsible, and all relevant units cooperate)
　　Strengthen data quality management, establish and improve the standards of health care data collection, cleaning, warehousing and storage, establish a data quality evaluation mechanism, insist on controlling data quality from the source, and ensure that health care data is legal, authentic, effective and available. Explore the development of desensitization and opening methods for residents’ health care privacy information, build and improve the open platform for health care data, smooth the open channels of data, and steadily promote the opening of health care big data. Explore the establishment of Guangdong health care data resource catalogue system, and make a good connection with the national health care data resource catalogue. (The Provincial Health and Family Planning Commission is responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission and the Legislative Affairs Office cooperate)
　　Third, comprehensively deepen the application of big data in health care

　　(1) Promote the application of governance big data in the health care industry.
　　Establish and improve the monitoring and evaluation index system and evaluation model for deepening the reform of medical and health system, realize real-time monitoring of key indicators such as medical service price, medical insurance financing and payment, control of residents’ medical burden, and drug use, deepen the accurate evaluation of the reform effect of medical and health system, and improve the pertinence and effectiveness of reform decisions. Strengthen the application of evaluation and monitoring results, and promote the formation of a new model of health management decision-making based on data, such as industry supervision, performance evaluation, input compensation and personnel compensation. (Responsible for the Provincial Health and Family Planning Commission, with the cooperation of the Provincial Development and Reform Commission, the Department of Finance and the Department of Human Resources and Social Security)
　　Open the data channel between medical institution management information system and clinical information system, integrate and analyze clinical, operation, cost accounting and quality evaluation data, build an evaluation system of medical institutions with comprehensive information, scientific evaluation, authoritative conclusion and timely update, improve the authority and credibility of evaluation results, and link it with hospital evaluation, fund allocation, performance pay, etc., promote the deepening of public hospital reform, improve modern hospital management system, and promote the improvement of hospital operation management level and medical service quality. (Responsible for the Provincial Health and Family Planning Commission, with the cooperation of the Provincial Development and Reform Commission, the Department of Finance and the Department of Human Resources and Social Security)
　　We will improve the monitoring mechanism for the income composition and changing trend of medical institutions, such as medical care, medicines and medical consumables, and cooperate with business information such as medical service price, medical insurance payment, bidding and purchasing of medicines and medical consumables, drug use and medical expense control, strengthen the monitoring and early warning of anti-fraud of medical insurance, and promote the joint reform of medical care, medical insurance and medicine. Accelerate the integration of comprehensive supervision information on health and family planning, realize the interconnection between comprehensive supervision and law enforcement information and health care related information systems, and improve the level of industry supervision. (The Provincial Health and Family Planning Commission is responsible, with the cooperation of the Provincial Development and Reform Commission, the Economic and Information Commission, the Department of Finance, the Department of Human Resources and Social Security, the Food and Drug Administration and the Bureau of Traditional Chinese Medicine)
　　(2) Promote the application of big data in clinical medical care and scientific research. Make full use of national key clinical specialties, provincial key clinical specialties, national and provincial key laboratories and other advantageous resources, rely on the National Clinical Medical Research Center, the National Traditional Chinese Medicine Data Center and the collaborative research network, base on South China, face Hong Kong, Macao and Taiwan, and radiate to Southeast Asia, and build a number of regional clinical medical data demonstration centers in the directions of cardiovascular and cerebrovascular diseases, tumors, geriatric diseases, respiratory diseases, nephropathy, reproduction, orthopedics, hepatobiliary, pediatrics, maternal and child health care, occupational diseases and traditional Chinese medicine. Strengthen the integration and sharing of clinical medicine and basic medical research data resources, and improve the transformation and application efficiency of medical research. Relying on clinical medical data demonstration center, integrating medical service data, drug research and development evaluation and management data, traditional Chinese medicine data and biomedical data, developing clinical decision support system to support clinicians to improve work efficiency and diagnosis and treatment quality. Promote the application of biomedical technologies such as gene chip and sequencing technology in genetic disease diagnosis, early cancer diagnosis and disease prevention and detection, realize the effective docking of genome information and electronic medical records, and promote the development of precision medical technology. Establish a genome database and a database of specialized subjects and diseases, and promote the research and application of disease markers. Create a number of precision medical specialties and precision medical pilot hospitals. (The Provincial Health and Family Planning Commission and the Chinese Medicine Bureau are responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission, the Science and Technology Department and the Food and Drug Administration cooperate)
　　(3) Promote the application of public health big data. Promote the interconnection between various national special newspaper information systems and the comprehensive management platform of national health information at the provincial, city and county levels. We will improve information systems such as immunization planning, online direct reporting, online first aid, management and treatment of severe mental disorders, prevention and control of occupational diseases, early warning and decision-making of public health risks at ports, and the application functions of mobile emergency business platforms, so as to enhance the ability of public health monitoring, evaluation and decision-making management. Integrate social network public information resources and improve the early warning mechanism of disease-sensitive information. Strengthen cooperation with the World Health Organization, international and public health institutions in Hong Kong, Macao and Taiwan, carry out research on the frontier technology of public health information, early warning and prediction research on the risk of sudden acute infectious diseases of international concern, and timely grasp and dynamically analyze the international public health risks such as the disease occurrence trend of the whole population and the global epidemic information of infectious diseases. Promote the information acquisition and information sharing of entry personnel in countries and regions where the epidemic broke out in advance, strengthen the business cooperation of inspection and quarantine, public health, foreign affairs, commerce, tourism, customs, port border inspection, maritime affairs, medical care, civil aviation, port services, railways and other units, prevent and control the imported epidemic, and improve the early warning and emergency response capabilities of public health emergencies. Promote the sharing of monitoring data of drug use, environmental sanitation, epidemiological factors monitoring, insect vector monitoring, drinking water, health hazard factors, port medical vector biology, nuclear biochemistry, food, meteorology, inspection and quarantine, sports, tourism and other industries, and effectively evaluate social factors affecting residents’ health by relying on residents’ electronic health records and electronic medical record databases.Carry out biological monitoring of key infectious diseases, occupational diseases, imported infectious diseases at ports and medical vectors, integrate multi-source monitoring data of infectious diseases and occupational diseases, establish a rapid identification network system for laboratory pathogen detection results, and improve the ability to prevent and control major diseases. (The Provincial Health and Family Planning Commission is responsible for the cooperation of all members of the joint meeting of the provincial prevention and control of major diseases)
　　(4) Promote the application of big data in traditional Chinese medicine. We will build a provincial platform for the management and utilization of big data resources of traditional Chinese medicine, a cloud platform for health information in TCM diagnosis and treatment areas, and a management information system for chronic diseases with TCM characteristics, health services and prevention of diseases. Improve and perfect the standards related to the analysis and application of big data of traditional Chinese medicine, build a big data center of traditional Chinese medicine and a database of diagnosis and treatment technology of traditional Chinese medicine covering medical treatment, prevention, health care, health preservation, rehabilitation, Chinese herbal pieces, Chinese patent medicines and hospital preparations, promote the application development of semantics of traditional Chinese medicine, data analysis and mining, intelligent diagnosis and treatment, knowledge management, vigorously develop "internet plus Traditional Chinese Medicine", realize diversified collection and in-depth analysis of big data resources of traditional Chinese medicine, and promote the convenience and benefit of smart Chinese medicine. Develop value-added services of TCM data resources and innovative services of TCM, and promote collaborative research on major diseases of TCM. (The Provincial Bureau of Traditional Chinese Medicine is responsible, with the cooperation of the Provincial Health and Family Planning Commission, the Development and Reform Commission, the Economic and Information Commission, the Science and Technology Department, the Civil Affairs Department, the Finance Department, the Culture Department and the Tourism Bureau)
　　(5) Cultivate new formats for the application of big data in health care. Strengthen key technologies such as storage and cleaning of massive data in health care, analysis and mining, and security and privacy protection. Accelerate the integration and innovation of health care data and new generation information and communication technologies such as cloud computing and big data, promote the deep integration of health care business and big data technology, and accelerate the construction of health care big data industry chain. Actively encourage social forces to innovate and develop health care business, and take various measures to support the development of health care service industry. Develop home health information services, standardize services such as online pharmacies and third-party distribution of medical logistics, and continuously promote the coordinated development of health care and health care, pension, housekeeping and other service industries. Promote the development of Chinese medicine, health care, health management, health consultation, health culture, physical fitness, health medical tourism, healthy environment, healthy diet and other industries. (The Provincial Health and Family Planning Commission is responsible, with the cooperation of the Provincial Economic and Information Technology Commission, Science and Technology Department, Civil Affairs Department, Culture Department, Sports Bureau, Tourism Bureau and Chinese Medicine Bureau)
　　(six) the development and promotion of digital health care intelligent equipment. Support the research and development of artificial intelligence technology, biological three-dimensional (3D) printing technology, medical robots, large-scale medical equipment, health and rehabilitation AIDS, wearable devices and related micro-sensor devices related to health care, accelerate the transformation of research and development results, improve the production and manufacturing level of digital medical equipment, Internet of Things equipment, smart health products, Chinese medicine functional status detection and health care instruments and equipment, and promote the upgrading of health care intelligent equipment industry. (The Provincial Economic and Information Technology Commission is responsible, with the cooperation of the Provincial Development and Reform Commission, the Health and Family Planning Commission, the Science and Technology Department, the Quality Supervision Bureau and the Bureau of Traditional Chinese Medicine)
　　Fourth, standardize and promote the development of "internet plus Health Care"

　　(a) the development of smart health care services for the convenience of the people. Integrate online and offline resources, and establish a "internet plus Health Care" service, payment and credit, health management and promotion system. Vigorously promote the application of Internet health consultation, online appointment and triage, mobile payment, intelligent guidance, whole process reminder and inspection results inquiry, follow-up, satisfaction feedback of medical industry and institutions, and form a standardized, shared, mutual trust and convenient health care service process. Develop third-party online health survey, consultation and evaluation, health management, health education and other application services to promote the quality of health care services. Promote the construction mode of new network hospitals such as online hospital, Pocket Hospital and Cloud Hospital, develop Internet hospitals, and promote online registration of birth. Based on residents’ electronic health records, integrate residents’ health management and medical information resources, and carry out electronic health information services covering the whole life cycle of prevention, treatment, rehabilitation and health management. Vigorously promote mobile payment of medical insurance, combine online service hall, mobile APP, WeChat and other means to carry out data integration and information sharing, expand the application of social security cards in the field of medical insurance, and realize medical services such as medical registration, inquiry of electronic medical records and health records, and direct settlement of medical expenses. Promote a healthy lifestyle, encourage residents to activate electronic health records, electronic medical records and other applications, and improve residents’ self-health management ability. (The Provincial Health and Family Planning Commission and the Human Resources and Social Security Department are responsible, and the Provincial Economic and Information Technology Commission and the Bureau of Traditional Chinese Medicine cooperate)
　　(2) Establish a telemedicine application system in an all-round way.
　　Build a telemedicine system connecting the third-class first-class hospitals and county hospitals in eastern, western and northern Guangdong. With county-level hospitals as the hub, a telemedicine network extending to township hospitals, community health service centers and conditional village health stations will be built, and the telemedicine coverage of various medical institutions at all levels will be gradually realized, and telemedicine services such as remote consultation, remote pathological diagnosis, imaging diagnosis, ECG diagnosis, monitoring guidance, surgical guidance and distance education will be carried out. Strengthen the connection of the province’s telemedicine network with other provinces, international academic institutions and well-known foreign medical institutions, and develop inter-provincial and international telemedicine. (Responsible for the Provincial Health and Family Planning Commission, with the cooperation of the Provincial Development and Reform Commission, the Economic and Information Commission, the Department of Finance and the Department of Human Resources and Social Security)
　　Construction of regional pathology, imaging, ECG diagnosis center, further improve the mutual recognition mechanism of inspection results, and realize the interconnection and sharing of inspection results. Formulate telemedicine service prices, medical insurance payment policies and quality management systems to promote the normal operation of telemedicine systems. Promote data resource sharing and business collaboration between high-level hospitals and primary medical and health institutions, general practitioners and specialists. Open up the data channel between health management, disease treatment and rehabilitation, and accelerate the construction of a graded diagnosis and treatment information system based on the Internet and big data technology in accordance with the requirements of "first diagnosis at the grass-roots level, two-way referral, rapid division and treatment, and linkage from top to bottom". (The Provincial Health and Family Planning Commission and the Bureau of Traditional Chinese Medicine are responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission, the Finance Department and the Human Resources and Social Security Department cooperate)
　　(3) Promote the application of health care education and training. Relying on the national health care education and training network, explore the establishment of internet teaching mode and method, and build an open internet health care education system. Integrate online and offline high-quality online education resources, carry out health care popularization education for the public and carry out vocational continuing education for health care practitioners. Encourage higher-level hospitals to establish remote training networks with counterpart hospitals and graded diagnosis and treatment medical institutions, organize remote surgery teaching, and improve the ability of primary medical and health services. Explore the establishment of a general practitioner training model based on the Internet, expand the scale of general practitioner training, and ensure the quality of general practitioner training. Promote the open sharing of health care education resources. (Responsible for the Provincial Health and Family Planning Commission, with the cooperation of the Provincial Development and Reform Commission, the Economic and Information Commission, the Education Department, the Finance Department and the Bureau of Traditional Chinese Medicine)
　　Fifth, improve the health care big data guarantee mechanism

　　(1) Improve laws, regulations and standards. Establish a management system of "graded authorization, classified application and consistent powers and responsibilities", strengthen the standardized management of residents’ health information services, clarify the right to use information, and effectively protect the legitimate rights and interests of all parties. Formulate and improve data management, data and information system security and health data privacy protection systems, and clarify the boundaries, responsible subjects and specific requirements of data collection, transmission, storage, use and opening. Strengthen the protection of information related to national interests, public safety, personal privacy, population genes, etc., and prevent data abuse and privacy disclosure. Follow the national information standards and norms, establish a health care information standards and norms system, and promote the standardization of health care big data products and service processes. Strengthen the evaluation of standard application level and improve the standard application level. (Responsible for the Provincial Health and Family Planning Commission, with the cooperation of the Provincial Development and Reform Commission, the Economic and Information Commission, the Quality Supervision Bureau, the Legislative Affairs Office and the Bureau of Traditional Chinese Medicine)
　　(2) Strengthen the security of health care data. Strengthen the classified management of health care data. The implementation of real-name registration system for residents’ health care services and the use of real-name management for health care data. We will build and improve a unified medical digital identity, electronic real-name authentication and data access control information system for medical and health workers and medical and health institutions in the province, actively promote the application of electronic signatures, and establish a health care data management model with traceable service management, safe operation of diagnosis and treatment data and multi-party cooperation. Adhere to both content security and technical security, and ensure that the regional national health information comprehensive management platform, data exchange network and key information systems are independently controllable, stable and safe. Carry out the reliability, controllability and security evaluation of big data platforms and service providers, as well as the security evaluation and risk assessment of applications, and establish software evaluation and security review systems such as security protection, system interconnection and sharing, and citizen privacy protection. Establish and improve the safety working mechanism of "internet plus Health Care" service, strengthen the safety monitoring and early warning of big data, strengthen the linkage between safety information notification and emergency response, improve the measures to resolve and respond to potential risks, strengthen the protection of important information involving national interests, public safety, patient privacy, business secrets and so on, and strengthen the information security protection of medical schools and scientific research institutions. Strengthen information security protection in cross-border exchanges and cooperation and cooperation between government and social capital. (The Provincial Health and Family Planning Commission is responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission, the Public Security Department, the Human Resources and Social Security Department, the Intellectual Property Office and the Internet Information Office cooperate)
　　(three) to strengthen the construction of health care information compound talent team. Taking "digital doctors" as the training goal, we will formulate the development plan of health care informatization talents and strengthen the discipline construction of medical informatics. Establish and improve the training system of medical informatics talents, focus on cultivating high-level and compound medical information R&D talents and scientific research teams, and cultivate a group of internationally influential medical professionals, academic leaders and industry leaders. Encourage and support institutions of higher learning, health care institutions, industry associations and health care information enterprises to establish educational practice and training bases, closely follow the development needs of the health care big data industry, carry out continuing education and training, and promote the training and team building of health care big data talents. Smooth the career development channel of medical information talents and expand the development space of medical information talents. Orderly promote talent and technology exchanges and cooperation in the development of big data application in health care. (The Provincial Health and Family Planning Commission is responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission, the Education Department, the Finance Department and the Human Resources and Social Security Department cooperate)
　　Sixth, strengthen the organization and implementation

　　(1) Strengthen overall coordination. All localities should establish a working pattern of government leadership, multi-party participation, resource sharing and coordinated promotion. According to the requirements of this implementation opinion, they should put forward the implementation plan of their own regions, clarify specific tasks, and ensure that all measures are implemented. The evaluation results such as the construction of comprehensive management platform for national health information, the maturity of interconnection, the quality of health care data, and the application level of electronic medical records in medical institutions are included in the evaluation of deepening the reform of medical and health system in the province and the evaluation of strong health cities. The Provincial Health and Family Planning Commission should take the lead in establishing a joint conference system to promote and standardize the application and development of big data in health care, strengthen the overall coordination of research and development, new format construction and application promotion of big data technology in health care in the province, and promote the implementation of key tasks. All relevant units should closely cooperate and form a joint force to strengthen support for the development of big data applications in health care. Promote the integrated development of military and civilian health care big data, and promote the standardization, interoperability and collaborative application of military and local health care data. (The municipal people’s government and the provincial health and family planning commission are responsible for all localities, and all relevant units cooperate)
　　(2) Focus on key breakthroughs. All localities should focus on solving the problem of big data application infrastructure construction, accelerate the construction of a comprehensive management platform for national health information at the city and county levels, and accelerate the progress of information system transformation and upgrading of medical and health institutions. Starting from the areas urgently needed by the masses, we will implement the health care big data demonstration project, focusing on promoting the application of big data such as health care, industry governance, clinical medical care and scientific research, public health and traditional Chinese medicine in internet plus. Vigorously support the introduction, digestion, absorption and re-innovation of advanced technologies of health care big data, and focus on developing the health care big data industry chain. Select a number of areas and fields with good basic conditions, high work enthusiasm and guaranteed privacy and security to carry out the pilot application of big data in health care, sum up experience in a timely manner, and make solid and orderly progress. (The Provincial Health and Family Planning Commission and the Finance Department are responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission and the Science and Technology Department cooperate)
　　(3) Increase policy support. Promote the use of government and social capital cooperation (PPP) model to encourage and guide social capital to participate in the infrastructure construction, application development, operation and maintenance services and industrial chain construction of health care big data. Encourage medical and health institutions to cooperate with enterprises, institutions and social institutions, and explore ways to achieve the integration of government applications and social applications in the field of health care big data through government procurement and social crowdsourcing. Encourage innovative diversified investment mechanisms, improve risk prevention and supervision systems, and support the development of health care big data applications. Support qualified health care big data enterprises to go public for financing or issue corporate bonds, connect with multi-level capital markets, and use various financing tools for financing. (The Provincial Health and Family Planning Commission and the Finance Department are responsible, and the Provincial Development and Reform Commission, the Economic and Information Commission, the Science and Technology Department, the Finance Office and the Guangdong Securities Regulatory Bureau cooperate)
　　(4) Strengthen policy propaganda. Strengthen the interpretation of health care big data application development policies, vigorously publicize the significance and application prospects of application development, actively respond to social concerns, and form a good social atmosphere. Actively guide medical and health institutions and social forces to carry out various forms of popular science activities, publicize and popularize the application knowledge of big data in health care, and continuously improve the people’s ability to master relevant applications and health literacy. (The Provincial Health and Family Planning Commission is responsible and all relevant units cooperate)

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General Office of Guangdong Provincial People’s Government

February 8, 2017

Author Liu Yan

Editor Xin Ling

Toutu. com

After a wave of unrest, Gao Wei fell into a storm of public opinion again.

First, it was rumored that the consumer group was "indiscriminately laying off employees". After Gao Yan’s urgent rumor, it was rumored that some of its projects were "frequently looking for buyers", "selling a lot of assets" and "looking for a takeover man" … and then the market conveyed various speculations.

In response to the so-called "selling assets" in the market, Gao Yan responded to the entrepreneurial state and said: "International markets such as Coller Capital and TR Capital are all mature players in the S market. S-transactions are more often about the continuation of assets than the simple sale of assets. In the simplest way, the seller who sells the share is not a VC/PE institution, but a share transfer between LPs. Before and after the asset package transaction, the GP share remains unchanged. That is to say, the so-called’ high-selling assets’, in essence, the share transfer between high-selling LP is not high-selling assets.

At the same time, according to the entrepreneurial state, Gao Yan is also setting up a special S fund team. Gao Wei said: "S trading has two meanings for Gao Wei. On the one hand, it can serve our LP and help the existing LP to better grasp the exit rhythm. At the same time, we are also very optimistic about the investment opportunities in the S market. For the long-term optimistic areas, we can either invest in new shares or intervene in the S fund. We believe that S trading, as a new tool, has great market potential and promotes venture capital. "

Let’s not comment on the deep-seated reasons behind Gao Ling’s trading in S, but from the feedback of the market, do we really know S funds?

The answer may not be.

As far as the incident itself is concerned, "Gao Yi sets up S fund team" has been misunderstood by the market as "Gao Yi sells assets". The so-called "high-selling assets" in the market is actually the share transfer between high-selling "LP", which can make the old LP get liquidity and withdraw early, but high-selling is still the holder of assets, and its share of assets remains unchanged.

When Gao Ying set up the S fund, it appeared as a buyer in the S transaction, and they would buy fund shares, investment portfolios or investment commitments from other investors.

We can see that Gao Ling, as an important weather vane, has begun to focus on the hidden opportunities in S trading.

The fundamental reason why the market has misunderstood Gao Ling’s fund is that many people confuse the concepts of S fund and S trading, and think that S fund is only an exclusive game dominated by LP, and GP with operational problems will passively participate. Even most GPs deliberately stay away from the S fund, which seems to have the label of "disposal of non-performing assets", for the sake of brand protection.

In fact, S trading is a good tool to help GP "make money". More and more foreign GPs take the initiative to use S trading as a tool to solve the problems of raising funds, withdrawing, optimizing LP structure, asset management, adjusting investment strategy and withdrawing cash.

After more than 20 years’ development, this innovative financial instrument has entered a milestone development abroad. The landmark event is that in 2021, the GP-led S transaction exceeded the LP-led transaction scale for the first time, and it showed a sustained growth trend. According to the latest data of Jefferies in the United States, the transaction volume dominated by GP has increased from 35 billion dollars in 2020 to 68 billion dollars in 2021, accounting for more than half of the transaction volume in the S market, among which, the continuation fund (a model in S trading) accounts for the majority. This survey is also verified by Lazard’s data.

Foreign GP-led transactions surpassed LP-led transactions for the first time, accounting for half of the total trading volume in the S market (Source: Lazard).

However, in China, the vast majority of China GPs don’t realize the intrinsic value of S-trading. In most cases, GPs passively participate in S-trading when LP needs to withdraw, and the GP institutions that actively initiate trading are rare. As far as quantity is concerned, there are only a few domestic GP-led trading cases, such as IDG Capital, Kunzhong Capital, Huagai Capital-Shenzhen Venture Capital, Junlian Capital, Xiangfeng Fund and Puzzle Capital.

As a professional buyer, S fund managers generally believe that the risk coefficient of GP-led S trading is higher than that of LP-led S trading, but the return on investment is also significantly higher. This has also become one of the important reasons why the big buyers of foreign mature S funds represented by Kohler Capital actively participate in GP-led transactions.

What is GP-led s trading? When will it become mainstream in China? How can VC/PE managers use it to create more value?

S fund has been known to most GPs. As the market tends to be hot, 2020 is also called the first year of China S Fund. However, many people’s first impression of S fund still stays at the level of "taker" of non-performing assets.

Tracing back to 30 years ago, when S Fund was born abroad, it also had the derogatory color of "disposal of non-performing assets".

"In the beginning, S funds were only used when there were major problems in American funds. At that time, some big GPs would try to avoid having relations with S funds, so as not to be labeled as’ bad’. Now, more and more GPs are actively looking for S funds to cooperate, in order to create more income. At present, the awareness of S funds in the China market in the early stage of development is at most a neutral concept. " Yang Zhan, director of Kohler’s capital investment and general manager of Kohler (Beijing) Private Equity Fund Management Co., Ltd. introduced.

"The fund expires to find the next LP, just as it is common for a girl to find an object when she is older." Executive CEO Li Miao made an image metaphor. She believes that it is absolutely unnecessary for GP to avoid the normal behavior of selling assets or transferring shares.

"Generally, it is very good that 20% of the assets of US dollar funds can be withdrawn through IPO, and a large number of other assets need to be withdrawn through mergers and acquisitions, transfer, repurchase and liquidation." As an early group of S fund practitioners in China, Li Mingming, managing director of Xingnahe Capital, told Entrepreneurship.

"The market has a certain misunderstanding of the S fund. The S fund will not simply buy bad assets, but can look at the underlying assets through cycles and outlets and invest in valuable asset packages. And in general, the return on investment of S funds is higher than that of parent funds, even higher than that of some PE/VC funds, and J curve can be avoided to some extent. " Li Mingming thinks.

"In China, many VC/PE institutions and even the media often confuse the concept of S fund with S transaction, which leads many GPs to wonder whether they should find S fund to receive assets or do S fund, and even narrowly think that only S fund can help GP." Li Miao said.

The main difference between S fund and S transaction is that S fund is one of many participants in S transaction and a part of S market. S fund is a Secondary Fund, which specializes in investing in the private equity secondary market.

For example, there are Kohler Capital and TR Capital abroad, and there are Gefei S Fund, Nuelle S Fund, SIIC Shengshi S Fund (jointly established by Shengshi Investment and SIIC Group) and Shenzhen Venture Capital S Fund in China, which act as buyers in S transactions.

S transaction refers to the Secondary Transaction of private equity, which is commonly divided into two types: LP-led and GP-led.

Among various transaction types, GP and LP have achieved different requirements (source: Executive Middle School).

Most GPs in China are familiar with the LP-dominated trading mode, and most of them are the share transfer between LPs due to liquidity considerations. Because it is difficult to bring increment to the management scale of VC/PE funds, GPs generally have no driving force to actively cooperate with S trading links such as full adjustment and industrial and commercial changes.

What VC/PE in China ignores is that GP-led S transaction usually refers to a transaction in which GP takes the initiative to transfer one or more assets or fund shares to a new fund, and the new fund will continue to be managed by the existing GP or related parties. It is generally divided into various types, such as continuing fund, fund reorganization, late trading and tied trading.

After removing the misunderstanding of S-transaction and S-fund, we further analyze the value of GP-led S-transaction to VC/PE institutional managers.

For GP, what other "money-making" opportunities are implied in S trading?

Generally speaking, passive pressure and active interests are enough to drive more and more China GPs to actively participate in the private equity secondary market. This is Li Miao’s view.

As far as income is concerned, she learned that the income of investment institutions participating in S trading is considerable. "The first income from investing in S shares comes from discount income, but more income comes from the later appreciation of assets. We are familiar with S funds and financial institutions that have participated in the S market since 2021. "

For example, a fund restructuring transaction led by Kunzhong Capital, as the seller, created a 25% DPI for RMB funds. In addition, some investors revealed that the investment return performance of individual market-oriented S funds in China is better than that of mature foreign markets, and they are enjoying the early dividends in China’s S market.

However, the market dividend of S fund for LP share discount transfer will not last forever. "After a wave of market dividends in the downturn of the secondary market in 2018, the share of S in COVID-19 will be rapidly ignited in 2020, because the share of S can accelerate the cash return, reduce the risk of blind pools, and the discount rate will increase the return on income." As a parent fund practitioner for many years, Li Mingming, managing director of Xingnahe Capital, said.

After communicating with her peers, she basically reached a general consensus that the small LP share discount transfer has actually entered a relatively fierce level in China, and the "missing" behavior of buying and selling shares at low prices between LPs is difficult to last for a long time. In contrast, the complex S trading led by GP will gradually become a new trend.

"In the past two or three years, foreign GP-led transactions have gradually increased, and now it has accounted for half of S transactions, of which single assets have more transactions. The reason is not only related to the expiration of many foreign funds, but also because S trading has become one of the important exit paths for foreign M&A funds. Through S trading, M&A funds can retain assets for a longer period of time in order to obtain higher returns. " Kohler Capital Yang Zhan analyzes the differences between China and foreign countries.

Many people said that the two core pain points of fund-raising and withdrawal will force China GP to find more exit ways, and S-trading will gradually become an important supplement to various exit channels such as IPO, M&A and liquidation. This trend is basically consistent with the mature American market of private equity.

Although the multi-level capital markets such as Beijing Stock Exchange, Growth Enterprise Market registration system and science and technology innovation board can broaden the exit channels, the pressure of fund exit is still great, and a large number of funds are entering the liquidation period one after another, and the demand for fund late trading is great. "Looking back at the VC/PE industry in China, it experienced rapid development from 2015 to 2017, during which a large number of market-oriented funds were established with a term of 5-7 years. Now many funds have reached the liquidation period, and LP urgently needs liquidity. In addition, there are many funds that take money from the financial funds with a term of 10 years, and they have also come to the exit period one after another, and the enthusiasm of state-owned assets to participate in S-share trading is getting higher and higher. The stock market of domestic S transactions is very large, with a scale of more than 13 trillion yuan. " Huang Zhenlei, deputy general manager of Beijing Equity Exchange Center, told Entrepreneurship.

Why are "second-hand share" trading opportunities more active in the stock market era?

Kohler Capital Yang Zhan made an image metaphor: "The Beijing real estate market has entered the stock market, and the second-hand housing transactions are active, accounting for the vast majority of the total transaction volume, which is a bit like the reason that the private equity secondary market in China will gradually enter the stock market; The real estate market in Xiong’ an is just the opposite. The real estate development time is delayed in Beijing, and it is still in the era of first-hand housing transactions, and there will be no large-scale second-hand housing transactions for the time being. "

Yang Zhan is optimistic about the market potential of a large number of second-hand shares in China market. Kohler Capital, where he works, is the buyer of the private equity secondary market with the largest investment team in the world, and its investment strategy will also focus on the GP-led market.

Huang Zhenlei of Beijing Equity Exchange Center revealed to Entrepreneurship: "As the first pilot of S share transfer in China, the transaction volume of Beijing Equity Exchange Center has shown a substantial growth trend in the last two years. Last year, the transaction volume reached 1 billion, and it is expected to break through 10 billion yuan this year."

Then analyze the pressure of GP fundraising. Factors such as new asset management regulations, tight financial funds, and financial difficulties of listed companies lead to difficulties in LP’s capital contribution. The situation that LP’s subscribed capital contribution is not in place, LP requires DPI, and fund raising increases the pressure on GP to raise funds.

What is the root cause of the difficulty in raising funds for GP?

Li Miao has different perspectives: "Compared with other asset classes, private equity funds have a long cycle and high uncertainty of investment returns. The core reason is a serious shortage of liquidity. An illiquid asset is lifeless, and S trading can just solve the liquidity problem of private equity funds. Money is the smartest and will flow to assets that can generate returns, so now we can see that a larger amount of funds have entered the private equity secondary market. "

"Despite the existence of market demand and GP pain points, on the whole, the enthusiasm of domestic GPs to actively participate in S trading needs to be improved. Although they are interested in S trading, there are not many real participants. Compared with overseas developed markets, S trading in China market is still in the early stage, and the market space is very large. " Huang Zhenlei of Beijing Equity Exchange Center said.

Judging from the proportion of capital contribution, the main sellers in China S market may be finance, central enterprises, state-owned enterprises and financial institutions, but the buyer’s strength needs to be cultivated, the types of intermediary institutions need to be enriched, and the pricing mechanism for financial state-owned shares needs to be further improved. Judging from the transactions completed by Beijing Equity Exchange Center, although there are occasional packaged asset transactions and GP restructuring, the trading mode is relatively simple, and GP-coordinated LP share trading is still the mainstream.

"A core point is that when the assets invested by GP are really poor, it is not S trading that can solve the problems of withdrawal and fundraising, and the cart before the horse cannot be put". Li Miao reminds some players who want to participate in the transaction.

"Foreign fund managers and investors will use S trading as a tool to adjust their existing portfolios, just like buying stocks to adjust positions." Kohler Capital Yang Zhan said that the frequency of domestic players using S tools is obviously not high.

In addition, according to the observation of many domestic people, a new phenomenon has begun to appear in the China market. When some GPs encounter difficulties in fund-raising, they begin to use S trading tools and promise to sell some assets of new LP or past fund shares at low prices in exchange for the possibility of LP contributing to the new fund, so as to achieve the purpose of fund-raising. This practice of "tying up assets" belongs to bundled transactions.

"Although there are similar binding modes abroad, the thinking logic and original intention are different." Kohler Capital Yang Zhan reminds domestic players.

According to Li Miao, some FA will use Mingchi Continuation Fund when raising funds for GP. "this method is more suitable for new funds or GP that has just come out to raise funds and is being institutionalized. S tool can help GP create DPI performance. In addition, a single old stock and asset package transaction can also be used as a value exchange to create DPI for GP. With DPI, GP will make it easier for the new LP to see its historical performance and raise funds more conveniently. "

In fact, continuing fund and fund reorganization have become a new way of playing individual head GP in China in recent two years. "Asset restructuring seeks to withdraw, and generally packages a number of assets to speed up the withdrawal of funds and release more management energy of GP. It can also adjust investment strategies, turn to other track investments, and even actively optimize the LP structure and absorb institutionalized LP. In addition, you can also make a single project fund share transfer. " Huang Zhenlei of Beijing Equity Exchange Center said.

In China, the fund restructuring transaction known as the first RMB-to-US dollar fund in China is dominated by Kunzhong Capital.

In 2020, Kunzhong Capital packaged and sold seven projects to overseas entities set up by TR CAPITAL, creating a 25% DPI for RMB funds, and the transaction involved about 100 million US dollars. Through this S transaction, Kunzhong Capital completed the withdrawal of some RMB assets, and at the same time realized the raising of the first US dollar fund of Kunzhong Capital. Also completed the RMB-to-US-dollar fund restructuring transaction is Unconfused Capital, with the transaction scale exceeding 100 million US dollars. It can be seen that the GP-led S transaction can realize dual-currency conversion and solve the fundraising problem smoothly.

Kunzhong Capital Dollar Fund Reorganization Transaction Chart (Source: Guangchen Consultant "Ten Thousand Folds Must Be East")

Guangchen Consultant stated in "Ten Thousand Folds Must Go East" that Kunzhong Capital achieved a win-win situation among the three parties through this transaction. First of all, the original LP achieved considerable DPI through this transaction, which improved the overall cash performance of the fund in 2016; Secondly, the new LP has obtained the potential appreciation space of assets in the future; Thirdly, RMB LP helped GP upgrade to a dual-currency GP with more brand influence, paving the way for GP to enter the US dollar fund market for future financing.

In September, 2020, IDG led the completion of the S-fund restructuring transaction with NAV (Net Fund Share) exceeding USD 600 million, which became the largest publicly disclosed S-fund transaction in the history of China at that time.

This typical GP-led S-trade has injected a shot in the arm into the S-market. In the transaction, IDG packaged the portfolio of one of its RMB funds that has not been withdrawn into US dollar funds, involving more than 10 projects, and the buyer was a consortium led by Harbour Vest, an international parent fund management agency.

According to the observation of Entrepreneurship, the S transaction led by IDG capital is relatively active. At the beginning of this year, the largest single paid-in "QFLP+S" fund was established in Wuxi, which is also the first cross-border S fund of IDG to complete the payment.

Let’s look at the first publicly available large-scale RMB GP-led fund share restructuring transaction in China, with Huagai Capital as the leading party and Shenzhen Venture Capital S Fund participating as CO-GP.

The scale of this S fund is 800 million yuan. As the first RMB-structured reorganization and continuation fund in China, Huagai Capital has packaged many star projects such as Fuhong Hanlin. Through this continuation fund, Huagai Capital further enlarges the value of the portfolio, prolongs the holding period of star assets, and thus improves the return on investment.

In addition, Junlian Capital also completed a typical GP-led medical continuation fund transaction in 2021, with a transaction scale of US$ 270 million. Among them, one of the important buyers of the transaction is Kohler Capital. Prior to this, in February 2020, Junlian also completed a $200 million continuation fund transaction.

Junlian Capital’s $270 million medical and health continuation fund transaction chart (Source: Zhongzhong)

Vilen, managing director of Xingnahe Capital, suggested that GP should have strong resource control ability, and it is best to find a professional intermediary or professional buyer to cooperate. Generally, GP may find it difficult to copy the existing gameplay of other GPs.

As one of the earliest S-trading practitioners in China, vilen thinks that the current S-market in China may not be as lively as most people feel. After all, the S-market in China is in its early stage, and the professionalism of the buyers and sellers involved in the transaction is extremely high. "S-trading is highly complex, the trading process is complex, the water is deep and there are many pits, so participants need to be cautious, otherwise there will be many potential risks."

Finally, many senior people said that there will be special trading opportunities and market dividends when the secondary market is depressed. 2022 is undoubtedly a good opportunity for S fund buyers to buy excellent assets, but it is not necessarily a good time for GP to sell assets.

If you are right"s trading topic"Interested, welcome to add the author’s WeChat communication (ID: ID：i20130214).

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