The three A-share indexes collectively pulled back in early trading. As of midday, the Shanghai Composite Index fell by 1.19%, the Shenzhen Component Index fell by 1.24%, the Beizheng 50 index fell by 0.22%, and the Growth Enterprise Market Index fell by 1.23%. Half-day turnover in Shanghai and Shenzhen stock markets was 466.9 billion yuan. Individual stocks fell more and rose less. More than 4,000 stocks in the two cities fell, and northbound funds sold 10.054 billion yuan in half a day.

　　On the theme of the sector, diet pills, pharmaceutical business and CRO concepts were among the top gainers, while securities and gas sectors were among the top losers.

　　On the disk, the concept of diet pills led the rise, with Shengnuo Bio rising by over 18% and () rising by over 9%. The pharmaceutical business was among the top gainers, with () and () both trading daily. Brokerage stocks led the decline, (), () once fell. The gas sector was among the top losers, with () and () falling more than 5%.

　　Plate analysis:

　　Straight flush hot stock list:

　　Transaction review:

　　At 09: 25, the A-share market opened, the Shanghai Composite Index opened flat, the Shenzhen Component Index opened 0.10% higher, and the Growth Enterprise Market Index opened 0.10% higher. The concepts of securities and diet pills were among the top losers.

　　At 09:27, the securities sector started to fall, () fell more than 7%, and Hongta Securities, Pacific, () and Jinlong shares followed suit.

　　At 09:29, the opening of real estate development was active. Shenzhen Zhenye A and () had daily limit, () rose by over 5%, and (), () and () rose one after another.

　　At 09:33, the concept of superconductivity rose, () rose by more than 5%, and (), (), () and () followed suit.

　　At 09:35, the pharmaceutical business strengthened in early trading, and the daily limit of Sili Medical went out of four consecutive boards, () rose by more than 4%, and (), () and () followed suit.

　　At 09:37, the concept of diet pills changed, and Shengnuo Bio rose by over 12%, followed by (), (), () and ().

　　09:39 Hua Hong Semiconductor fell 8.10%. According to the announcement, the company’s sales revenue in the second quarter reached 631.4 million US dollars, up 1.7% year-on-year, which was flat from the previous month. The profit attributable to owners of the parent company was $78.5 million, down 6.4% year-on-year, compared with $152.2 million in the last quarter.

　　At 09:41, the tourist plate of scenic spots moved up, () went up, and Emei Mountain A, Zhangjiajie, () and () followed up.

　　At 09:43, the media and game sectors strengthened in intraday trading, () rose by over 6%, () rose by over 5%, and (), () and () followed suit.

　　At 09:45, the gas sector changed and fell, and Chengdu Gas fell by nearly 5%. (), () and Xinao shares fell by more than 4%, and () and () followed suit.

　　At 09:48, Country Garden fell more than 10%. In the news, the company expected a net loss of about 45 billion yuan to 55 billion yuan in the first half of the year, and the company’s management promised to do its best to save itself.

　　At 09:55, the main contract of lithium carbonate hit a new low, reporting 208,400 yuan/ton, down 2.8%.

　　At 10:11, the agricultural sector oscillated lower, () fell by more than 5%, () fell by more than 4%, and (), () and Qiule Seed Industry followed suit.

　　At 10:21, the traditional Chinese medicine sector rose, () rose by more than 7%, and (), (), () and () followed suit.

　　At 10:25, FTSE China A50 index futures fell more than 1%.

　　At 10:32, the concept of reducer was changed and pulled up, () daily limit, (), (), (), () and so on followed up.

　　At 10:33, the Hang Seng Technology Index fell more than 2%, the Hang Seng Index fell 0.7%, and only Alibaba rose among the constituent stocks of the branch index.

　　At 10:41, the securities sector continued to fall, Hongta Securities and Jinlong shares both fell, Capital Securities fell more than 9%, and Cinda Securities and Pacific followed suit.

　　At 10:44, the three major indexes all fell more than 1%, the Shanghai Composite Index fell 1.05%, the Shenzhen Component Index fell 1.13%, the Growth Enterprise Market Index fell 1.03%, and more than 3,700 stocks in the two cities fell. Diet pills and pharmaceutical businesses were among the top gainers, while the securities and gas sectors were among the top losers.

　　At 11:00, FTSE China A50 index futures fell more than 2%.

　　News:

　　1. People’s Daily: Building the communication "base" of digital economy.

　　The People’s Daily published a commentary saying that in order to seize the commanding heights of future development, it is necessary to wait for no one, to make the application of 5G deeper, wider and more refined, and to give birth to more innovations in the format. From the perspective of 5G coverage, it is necessary to continue to consolidate the network foundation, accelerate the construction and deployment of 5G networks and Gigabit optical networks, continuously improve the coverage level of 5G networks in rural and remote areas, and provide better and better telecommunications universal services; From the perspective of the evolution of 5G technology, it is also necessary to accelerate the innovation of core technologies, strengthen the research and development of 5G enhancement technologies, accelerate the development of technologies and industries such as millimeter waves, lightweight modules and high-precision positioning, actively explore the potential key technologies of 6G, and form a number of landmark achievements; From the perspective of empowering the real economy, it is also necessary to deepen the integrated application, accelerate the development and upgrading of "5G+ Industrial Internet", deepen the integrated application in key areas such as mining and electric power, explore innovative applications in potential areas such as agriculture and cultural tourism, and promote the integration of information and communication technologies with the real economy.

　　2. Evergrande Real Estate suffered a net loss of 52.7 billion yuan last year, with current liabilities of 1.6 trillion yuan.

　　On the evening of August 10th, Evergrande Real Estate Group Co., Ltd. issued several reports, including the 2022 annual bond report, the 2022 semi-annual bond report and the 2021 annual bond report, as well as the 2022 and 2021 annual audit reports and the 2022 semi-annual financial report of Evergrande Real Estate. According to the financial report data, the net loss of Evergrande Real Estate in 2022 was RMB 52.72 billion. As of December 31, 2022, the total current liabilities were RMB 1,678.747 billion, while the total monetary funds of the company (including cash and cash equivalents and restricted funds) were RMB 9.173 billion. The company’s total liabilities are 1,833.819 billion yuan and total assets are 1,468.557 billion yuan.

　　3. Country Garden has prepared for debt restructuring and recently started relevant procedures.

　　According to CBN, an institutional source told reporters that Country Garden is already preparing for debt restructuring and is expected to start relevant procedures in the near future. The company has hired CICC as a financial consultant to lead the restructuring.

　　4. CITIC Securities: It is expected that the new shares will be expanded in an orderly manner in the market outlook, and the registration system has limited impact on liquidity.

　　Citic Securities said that looking forward to the market outlook, it is expected that the new shares will be expanded in an orderly manner, and the registration system will have limited impact on liquidity. Liquidity differentiation and delisting normalization will help A-shares achieve survival of the fittest; When new shares return to market pricing, the initial fluctuation of IPO will gradually decrease; The IPO structure will better reflect the development direction of the real economy and the latest supply in the primary market, which will benefit the financing of technology companies such as specialization and innovation; The supply of refinancing projects has increased, and the discount rate of fixed bidding is expected to remain at 10-15%, and the center of fixed pricing discount rate is expected to move up.

　　5. Chengdu Provident Fund may pay the rent directly on a monthly basis.

　　According to the official micro-news released by Chengdu, recently, the Chengdu Housing Provident Fund Management Center issued a notice for public consultation on the "Regulations on the Administration of Direct Monthly Rent Payment from Housing Provident Fund (Draft for Comment)". Among them, it is intended to be clear that if the depositor rents enterprises in the administrative area of Chengdu to centrally operate affordable rental housing that is open to the public, and the operating enterprises have signed a cooperation agreement with Chengdu Provident Fund Center, they can sign the "Chengdu Housing Provident Fund Management Center Extraction Housing Provident Fund Monthly Direct Rent Payment Service Agreement" with Chengdu Provident Fund Center to authorize the monthly direct rent payment business. After the Agreement comes into effect, the depositor authorizes Chengdu Provident Fund Center to automatically transfer the withdrawal amount to the account designated by the operating enterprise on the agreed withdrawal date every month.

　　6. Extreme Krypton car: From now until the end of the year, the limited-time price of Extreme Krypton 001 will drop by up to 37,000 yuan.

　　On August 11th, Extreme Krypton Automobile launched the latest limited-time price rights policy of Extreme Krypton 001. From now until the end of the year, new users can enjoy a limited-time reduction of 30,000-37,000 yuan.

　　China Xintongyuan: In June 2023, the domestic market shipped 22.149 million mobile phones, down 20.9% year-on-year, of which 17.322 million were 5G mobile phones, down 24.8% year-on-year, accounting for 78.2% of the mobile phone shipments in the same period. From January to June, the total shipments of mobile phones in the domestic market totaled 130 million units, down 4.8% year-on-year, among which, the shipments of 5G mobile phones were 102 million units, down 6.4% year-on-year, accounting for 78.9% of the mobile phone shipments in the same period.

　　7. the State Council Security Committee: comprehensively investigate and rectify the hidden dangers of the whole chain of urban gas.

　　The the State Council Municipal Committee of Work Safety issued the "National Work Plan for Special Renovation of Town Gas Safety". It is mentioned in the work plan that it will take about three months to carry out centralized attack, comprehensively investigate and rectify the hidden dangers of the whole chain of urban gas, establish a rectification account, and effectively eliminate the outstanding risks of gas safety in crowded places such as catering enterprises; It will take about half a year to consolidate and improve the effectiveness of concentrated attack, organize a "look back", comprehensively complete the rectification of identified risk hazards, and build a dual prevention mechanism for gas risk management and control and hidden danger investigation and management; By the end of 2025, establish a gas safety management mechanism that is strict, strict and severely punished, improve the relevant laws and regulations and standards system, enhance the level of intrinsic safety, lay a solid foundation for gas safety management, and basically establish a long-term mechanism for gas safety management.

　　8. Yang Huiyan withdrew from the chairman of a company under Country Garden.

　　Enterprise search APP shows that recently, the industrial and commercial changes occurred in Country Garden Real Estate Development Co., Ltd. in Gaoming District, Foshan City, and Yang Huiyan stepped down as the chairman; Bu Dehua no longer serves as general manager and director, and Yu Peiling no longer serves as supervisor; Li Shihua’s position was changed from deputy general manager and director to manager. Foshan Gaoming Country Garden Real Estate Development Co., Ltd. was established in January 2004 with a registered capital of 1.163 billion yuan, which is wholly owned by ANGEL VIEW INTERNATIONNAL LIMITED. Enterprise investigation shows that Yang Huiyan has stepped down as the chairman of Zengcheng Country Garden Property Development Co., Ltd..

In men’s daily life, shaving is a daily routine. Even in 2019, shaving will still pull the beard? Does the beard make your skin red and tingle? For me who have to shave every day, my skin can’t stand such sensitive stimulation!

It is said that a man whose face is not scratched by a razor is not a real man, but I think this statement is out of date. Modern men’s shaving needs are no longer limited to "shaving clean", but more pursuing a comfortable experience. After all, no one wants to use the "bloody case" that appears from time to time to exude masculinity.

Considering the need of modern men for shaving comfort, Philips recently launched a brand-new SP9880 comfort series electric shaver (hereinafter referred to as Philips SP9880 electric shaver), which really brings "comfortable" shaving feeling to men and opens a new era of comfortable shaving.

Full of luxury, full of dry goods

Philips SP9880 electric shaver is a brand-new "Shushi" series shaver. I was really surprised when the express delivery made me pick up the goods, which actually made me feel a little heavy as a big man.

When I opened the express box, it was really the first time that I saw that the razor box that I could hold with one hand was so big.

When I opened the box, I saw two big men — — Leather storage box and QI wireless charger. The leather storage box is dominated by dark brown, with a heavy texture and full of luxury.

In terms of charging method,Philips shaver is also equipped with the most popular QI wireless charging base, which frees the shaver from the shackles of traditional wires.

In addition, the Qi wireless charging cradle also supports wireless charging of any smart device compatible with Qi.

We can notice that the whole packaging box is divided into upper and lower layers, and the upper layer is removed, and the lower layer we see is the membership card, nursing set, instruction manual and power adapter.

This design can be described as unique, beautiful and reasonable, giving people a full sense of pleasure.

It is worth mentioning that,Philips provides a global warranty for every user who uses this razor for two years, and if it is a registered member, it can extend the warranty for three years.

In addition, the nursing suit was wrapped in an independent package, and I opened it, which contained: snap-in precision trimmer, conversion head, oil control cleansing brush, eye massage head and face massage head. It’s not just women who need grooming. In fact, we men also need to be cared for. Philips’ operation is really intimate.

When I bought Philips SP9880 electric shaver, I got not only an electric shaver, but also a set of all-round household containers for men.

Returning to the key point, I picked up Lipu SP9880 electric shaver. Personally, I feel that this is a finely crafted handicraft. The metallic black and gray appearance has a sense of advanced, which is really suitable for high-end business men. The details are matched with classic rhombic details, which is icing on the cake and shows the low-key luxury of users everywhere.

The arc design of the handle is perfectly ergonomic, and it is rich and solid when held in the hand.

Below the fuselage switch is a large-screen digital display screen, with functions such as remaining power and intelligent reminder at a glance.

In addition to the power on/off key, the left and right addition and subtraction buttons below it are specially designed to meet the individual needs of users. From low to high, you can choose: comfortable, strong and efficient, which are suitable for sensitive skin, deep shaving and fast shaving respectively according to the needs of the scene.

Press the personal comfort button, and the display will immediately light up to remind you.

Find the comfort zone. It turns out that shaving can be so comfortable.

As mentioned above, modern men are no longer just satisfied with the demand of "shaving clean". Finding a "comfortable" circle and getting comfortable is the king’s choice. It is understood that Philips SP9880 electric shaver adopts a brand-new extrasensory comfort circle, aiming to let us men who are deeply troubled by razor violence escape from the sensitive and pulling clutches.

In order to feel the comfortable experience of Philips SP9880 electric shaver and let everyone feel it with me, I used a plaster model to test it — — Pick up the plaster model, then turn on the power button of Philips SP9880 electric shaver and start the comfort mode. Under my violent friction, let’s check how much damage the model has endured.

At the same time, there is no harm if there is no comparison. We took out an ordinary three-headed razor and ravaged this gypsum sphere in every way to see what is the difference between the two razors under the violence test.

Hey? Amazing, why is the plaster model drawn with Philips razor only slightly scratched? Am I not working hard enough? No, I’ve obviously done my best.

I understand,Philips shaving SP9880 razor effectively reduces the contact area between the razor ring and gypsum through the nano-scale new extrasensory comfort ring, thus reducing the friction. Similarly, if I am shaving at this time, I think my comfortable use experience is also because of it!

On the other hand, the violence test with ordinary shaver shows that the gypsum sphere is already full of holes, which is terrible.

It can be seen that the blades of ordinary razors are still very sharp. If such a machine is used to rub my chin, it must be run away, and the redness and tingling can’t escape.

It is worth mentioning that the brand-new extrasensory comfort ring of Philips SP9880 electric shaver is actually a tiny and high-density metal anti-friction coating with special topological structure sprayed on the razor head, which can effectively reduce the friction between the razor head and the skin.

Silky and smooth, I’m not talking about Dove chocolate, this is my real shaving experience.

In order to reduce our sense of friction, it is certainly impossible for Philips to develop this product only with this design. Looking closely at the cutter net of Philips SP9880 electric shaver, compared with previous shavers, it is found that its incision is not only larger than usual, but also subdivides and optimizes the track.

The V-shaped bridge deck of the first track has a larger shaving groove and cutting surface, which completely reduces the problem of beard pulling. In addition, the thickened edge of the knife mesh also increases the comfort of the shaving process. The orbit of the inner ring adopts a circular shaving hole, which can catch the fish escaping from the net with maximum strength, make the chin cleaner and protect the skin barrier at the same time.

Looking back on the essence of shaving, "shaving clean" is still the focus of observation.

A high-quality razor with only comfort is definitely not enough, because "shaving clean" is also the top priority of my consideration.

↑ ↑ ↑ My face is a bit serious after staying up late recently. This is what it looked like before shaving.

↑ ↑ ↑ After shaving, I feel a lot of air.

My face is angular, so it is difficult for ordinary electric shavers on the market to clean my beard in the "black triangle" area, and my beard is not thick, so it is even more difficult to choose a suitable shaver.

Besides, among men, my skin belongs to the type that is not resistant to exercise, and it was quite easy to be sensitive when using a razor before.

Experience: When I turn on the Philips SP9880 electric shaver, I can clearly feel that when the cutter head passes by my chin, it seems that the cutter head will automatically change its angle. My beard will disappear in any passing area, and there is no need to rub it repeatedly. Presumably, this has something to do with the precise blade of nanotechnology.

Philips SP9880 electric shaver has 8-way contour tracking shaving, and the precise cutter head may move in many directions, closely fitting the facial contour, and greatly reducing the friction during shaving.

In addition, considering the difference of each person’s facial contour, this shaver has an intelligent beard sensing system, which increases the strength when encountering a thick beard, and automatically reduces the strength when encountering a soft beard. The shaving strength is controlled very accurately, and it is even more unnecessary for the user to control its strength.

For a person with severe wake-up syndrome like me, I often feel in a daze when I wake up. This intimate shaving experience is really great.

At the end of the evaluation, I didn’t forget to test the use noise of Philips shaver. Just now, when I used it, I didn’t think it was noisy within the human body’s feeling range, and the sound made by touching my face for a short time was not loud.

I tested it with a noise meter, and found that after turning on the shaver, the noise was XXX, which was equivalent to the normal speaking volume in interpersonal communication, and it was still very good.

Shaving is a very important thing in men’s life, and comfort and clean shaving are our requirements for electric razors.

Philips SP9880 electric shaver satisfies our men in three dimensions: clean shaving, comfort and humanization, and opens a new era of comfortable shaving. Super comfort zone, double-track knife net design and intelligent beard induction system all make my shaving process safer and more comfortable; The nano-technology shaving system and 8-thought contour tracking shaving can easily achieve the purpose of shaving.

In addition, Qi wireless charging base and multi-function snap-in accessories add icing on the cake to this high-end razor lineup.

Following my own inner standard of comfort, I think Philips’ brand-new Shushi series SP9880 electric shaver perfectly conforms to all my fantasies about men’s grooming. Interested friends may wish to experience it.

　　Bananas have different maturity and different health effects on human body. The Japanese beauty and health network "Beauty Ranger" introduced this.

　　Green banana loses weight.Professor Yo Kato Zhi of Hirosaki University found that immature green banana is rich in "indigestible starch" and its glycemic index is lower. In other words, the greener the banana, the lower the calorie intake, which is more beneficial to weight control.

　　Yellow banana beauty.People who want to beautify their skin are recommended to eat bananas with yellow skin. Bananas of this color are ripe and contain more vitamin B2 and vitamin B6, which has a good effect on preventing and treating skin problems. Professor Okubo Yiliang of Tohoku University found that yellow banana has a strong antioxidant effect, which can effectively remove free radicals from the human body, thus achieving a cosmetic effect.

　　Bananas with brown skin help digestion.Ripe bananas often have black spots or brownish skin. Studies show that this kind of brown banana contains phospholipids that are rare in fruits and has the effect of inhibiting gastric ulcer. Therefore, people who usually have a bad appetite may wish to eat brown bananas to help digestion. ▲ (Life Times special correspondent Yao Lijie)

　　The Central Meteorological Observatory continued to issue an orange warning of meteorological drought at 18: 00 on September 27:

　　According to the meteorological drought monitoring on September 27th, there were moderate to severe meteorological droughts in southwestern Jiangsu, most of Anhui, most of Henan, most of Hubei, southern Zhejiang, Fujian, Jiangxi, Hunan, northern and eastern Guizhou, northern and eastern Guangdong, central and northern Guangxi, and southeastern Chongqing, with extreme droughts in southwestern Zhejiang, southern Anhui, eastern Hubei, northwestern and northeastern Fujian, most of Jiangxi, and central and southern Hunan. It is predicted that in the next three days, there will be moderate to heavy rain in parts of Chongqing, Guangxi, Guangdong and other places, and there will be heavy rain locally, which is beneficial to alleviating meteorological drought. However, most of the remaining dry areas will still have little rain, and meteorological drought will continue or develop, so it is necessary to continue to do a good job in drought prevention and drought relief.

　　Defense guide:

　　1. The relevant departments and units shall, in accordance with their duties, do a good job in emergency work against drought;

　　2 relevant departments to enable emergency standby water sources, dispatch all available water sources within the jurisdiction, and give priority to ensuring domestic water for urban and rural residents and drinking water for livestock;

　　3. Strictly save water and limit unproductive high water consumption and service water consumption;

　　4. Timely artificial precipitation enhancement.

If you don’t consider the cost of using the car later when you buy a car, you will regret it afterwards. For example, today’s performance in this respect is worth talking about. So whether this car is a mule or a horse, let’s take a look at its actual performance.

First of all, from the appearance, the front face of Chuanqi E9 is very cute as a whole and looks very fashionable and sporty. Combined with the steady headlights, it looks very atmospheric. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car, the body size of the car is 5212MM*1893MM*1823MM. The car adopts elegant lines, and the side of the car gives people a very cold feeling. With large-sized thick-walled tires, the shape is quite domineering and stylish. Looking back, the overall shape of the rear of the car echoes the front face, and the taillights give people a very young and fashionable feeling, and the whole looks very fashionable and concise.

Coming into the car, Chuanqi E9 interior adopts a dynamic and lively shape, which highlights the hierarchical effect. The shape of the steering wheel of the car is eye-catching, and it is equipped with the functions of manual steering wheel up and down+front and rear adjustment, steering wheel heating and so on, and the visual effect is good. Let’s take a look at the central control. The car is equipped with a touch-sensitive LCD central control screen, which makes the interior design quite layered and personalized. Finally, let’s take a look at the dashboard and seats. The dashboard design is remarkable and the display effect is excellent. The car uses leather seats, which are wide and thick, and the overall comfort and wrapping are not bad.

In terms of configuration, Chuanqi E9 is equipped with car networking, driving mode selection, remote control key, Bluetooth key, rear wiper, interior atmosphere light and other configurations.

The car introduced today is not only eye-catching in space, but also has reached the mainstream level in various configurations, and there is nothing to be picky about driving experience and space experience. If you are interested, you might as well experience it.

On March 29th, the new conqueror of Futian pickup truck officially launched the diesel 8AT. The whole system adopts the power combination of 2.0T diesel engine and ZF 8AT gearbox, which is divided into chinese odyssey version, Wulin Extreme version and Qitian Dasheng version. The price range is 998-131,800 yuan. It is the first 100,000-yuan diesel automatic pickup truck equipped with 8AT gearbox in China, and it has a very high cost performance. The appearance of the new conqueror model of Futian will promote the product upgrading, ecological expansion and industrial transformation of the pickup truck market in China, and will also enhance the competitiveness of Futian pickup truck and make it better meet the needs of domestic pickup truck users.

During the listing of Futian New Conqueror, the author was invited to participate in the test drive experience of Wulin Extreme Edition. As a mid-range model of Futian New Conqueror series, the new car continues the calm and atmospheric design concept of Futian Conqueror series. The front face is shaped like a lion, and the "flat-headed" front face is angular and very masculine. The body lines are smooth and dynamic, and the wide body with 265/65R17 wide tires looks more domineering and tough. The lines full of strength give people a more reliable feeling, and consumers can choose from a variety of body colors, which enhances the fashion sense of the whole car.

In terms of interior, the new conqueror has upgraded the diesel 8AT in order to better meet the needs of pickup truck users in the new era. The interior adopts a three-dimensional cockpit that runs through horizontally, and the Wulin Extreme Edition is a sporty and fashionable cognac interior.It has 10-inch large central control touch screen, bionic seat, electronic shift lever, openable skylight, multi-function steering wheel and other hardware configurations.It is in line with the trend of the pickup truck market in China, so that users can fully enjoy the convenience brought by intelligent technology, increase the convenience of car use in the later period, and guide users to start a brand-new pickup truck life.

In terms of power system, Futian New Conqueror will be equipped with 2.0T diesel power that inherits the century-old Cummins power technology, with a maximum power of 120kW and a peak torque of 390N·m, matching ZF 8AT gearbox. 4F20TC diesel power has been tested in the domestic pickup truck market for a long time, and it has many advantages such as reliability, strong power, high fuel economy, comfort and quietness. At the same time, the new conqueror is also equipped with Borgwarner timely four-wheel drive system, which has four driving modes of 4H/4L/2H/AUTO, and two driving modes of economy/sport are optional.

The test drive is surrounded by expressways and Panshan Lake.The road is the mainstay, and in this process, the low-speed driving state of the test drive vehicle can be more intuitively realized. Fukuda’s new conqueror gave clear feedback to the driver during the middle and low speed driving, and the throttle and braking force were moderate, which would not produce obvious sense of suddenness and frustration. Sufficient power reserve and good low-torque performance make it easy for Futian new conqueror to start the pickup truck, and the acceleration in the middle and low speed stages is easy, and the power output is relatively linear.

The combination of 2.0T 4F20TC diesel engine and ZF 8AT gearbox can meet the needs of most people, and good power feedback can be obtained in the speed range from 1800rpm to 2400rpm. When driving at a constant speed at medium and low speed, the power will be feedback in time as long as the accelerator pedal is pressed. When it is necessary to speed up overtaking, the engine will be delayed after stepping on the accelerator pedal, and then when the turbine is effectively involved, the engine speed will climb above 2500rpm to help the vehicle achieve further acceleration.

However, as a practical commercial pickup truck, the new conqueror of Futian still retains some characteristics of traditional commercial models in some aspects. Because the flat-bottom container structure is designed to improve the practicability, the center of gravity of the whole vehicle is designed to be high, and the suspension is hard to adjust to meet the heavy load demand, which leads to obvious bumps during the driving of the vehicle. When the vehicle passes through the speed bump or the road with small potholes, the feedback from the front passengers and drivers is relatively small, and the vibration filtering effect is within the acceptable range, while the rear passengers can feel the clear bounce.

After driving on the unpaved road, the high center of gravity and long suspension stroke of the flat-bottomed container pickup make the front and rear passengers feel a more intense bounce, and this bounce will be fed back to the steering wheel, causing the steering wheel to shake and shake.Besides,The steering wheel is caused by hydraulic power.The feedback is strong, which may be laborious for female drivers to control, but it is good for the direction.The directivity is still good, and the vehicle is not too heavy on the way, which is in line with the consumer’s impression of the stability of pickup products.

Generally speaking, Futian New Conqueror is a qualified dual-purpose pickup truck product, which has the right price and positioning. In the future, Futian pickup truck will continue to innovate, continue to take root in people’s livelihood, serve more users, build products that are suitable for IKEA and cost-effective with the highest quality, empower thousands of formats, assume the responsibility and mission of the national pickup truck brand, and help thousands of format strugglers achieve a happy life.

　　After being interviewed by the General Administration of Market Supervision, the Central Network Information Office and other departments, Tesla continued to board the hot search due to quality problems.

　　Recently, when Mr. Meng, a Tesla owner in Hainan, parked in the parking lot, the vehicle could not stop when he stepped on the three-foot brake, which eventually led to the vehicle hitting the guardrail. After that, Tesla’s after-sales personnel changed cars for field tests, and drove the car into the ditch again under the same operation.

　　The man stepped on the brakes three times but drove into the ditch.

　　After-sales personnel: No abnormality was found by analyzing the corresponding data.

　　Mr Meng of Haikou bought a Tesla new energy vehicle in January this year. On the morning of March 11th, he drove to the unit. When he was preparing to stop, Mr. Meng found that the vehicle could not stop. At that time, the speed was about twenty or thirty kilometers. Because the vehicle failed to brake in time, it drove directly into the ditch. Mr. Meng recalled that in the process, he stepped on the three-foot brake.

　　"I stepped on the brakes, and the car still went forward and stopped unsteadily. Then I stepped on it and stopped unsteadily. Finally, the third foot stepped on the end, and the car still rushed forward and hit it directly."

　　Mr. Meng said that he contacted the Tesla official by telephone, and then the after-sales staff drove another Tesla new energy vehicle to the scene for investigation. The staff also did not stop the car during driving and rushed into the ditch. This scene was also recorded by Mr. Meng sitting in the back seat with his mobile phone.

　　Vehicle involved

　　Because of this situation in both cars, Mr. Meng is also a little scared. After the incident, the person in charge of Tesla Haikou after-sales service point replied to Mr. Meng that the corresponding data had been analyzed and no abnormality was found in the vehicle. "All Tesla cars have computer driving data. We also looked at the background driving data, and analyzed the situation at that time. All systems were operating normally, and there was no problem with the vehicle out of control or the brakes. "

　　Regarding the situation when the after-sales staff drove the vehicle that day, the person in charge explained: "Now all cars have ABS system, which is to prevent automatic locking. If you step on the brakes with one foot, the wheels may be locked, and there will be more serious traffic accidents. ABS anti-lock braking will help you brake. At that time, the scene situation may not allow the car to stop completely in a short distance."

　　Tesla responded: The ground was slippery.

　　Owner: Isn’t this a joke?

　　In response to the collision accident in Hainan, Tesla responded on its official Weibo, saying that the initial judgment was that the ground was wet and the owner stepped on the brake pedal lightly, which further lengthened the braking distance and caused the accident.

　　This response caused dissatisfaction among netizens, and some netizens spoke out that they were "professional shabu-shabu households". Is there really nothing wrong with the car because the ground is slippery?

　　Tesla said that according to the vehicle data, after the owner stepped on the brake pedal, the vehicle brake system and ABS all worked normally, but the brake pressure was low at the initial stage of stepping on the brake pedal, and the brake pressure increased greatly only 0.5 seconds before the collision. No faults were found in the accelerator pedal, brake system and drive unit of the vehicle. Combined with the on-site photos provided by the owner, it can be seen that there are a lot of sand and gravel on the ground, and because a lot of accumulated water is muddy, it is preliminarily judged that the main cause of the accident is that the ground is wet and the brake pedal is lightly stepped when the owner initially steps on it, resulting in a longer braking distance.

　　On the evening of 14th, Tesla responded again through Weibo that it had invited an automobile inspection service company to inspect the accident vehicle. The test results show that the vehicle braking system is qualified.

　　Tesla official Weibo responded

　　Mr. Meng is not satisfied with Tesla’s two responses. "This is not a joke? Which car can’t stop pedaling? I’m a young man. I can’t stop stepping on my feet and hit the wall directly. They contacted me and told me that there was nothing wrong with the car. They told me to take it back and use it. I repaired it and took my own insurance. I drove it up and hit it myself. It is very difficult to defend rights, it is really difficult. " Mr. Meng said that he intends to continue to defend his rights.

　　Mr. Monk:Help me solve the safety hazard, otherwise I dare not drive this car. As long as it rains, I am worried that I can’t stop the car. Tesla didn’t answer any questions, just told me that there was no problem. If there was a problem, it was my driving problem or the road problem. Later, we also drove an oil truck to test, and there was no problem. I was really disappointed with Tesla.

　　Five departments talk about Tesla

　　Expert: Pay attention to the feelings of consumers in China.

　　Since the localization last year, Tesla has been rapidly improving in production capacity and delivery volume, followed by the negative problems of product quality that are constantly exposed. Even its founder, Musk, admits that quality problems are a helpless situation when production capacity is rapidly increasing.

　　At the beginning of February this year, five departments, including the General Administration of Market Supervision, jointly talked about Tesla on issues such as abnormal acceleration reflected by consumers, battery fire, and remote upgrade of vehicles (OTA). At that time, Tesla responded that it would always respect the rights and interests of consumers. For the problems reflected by consumers, Tesla will systematically investigate and effectively implement the protection of consumer rights and interests.

　　Cui Dongshu, secretary general of the National Passenger Car Market Information Association, believes that Tesla should pay attention to the feelings of China consumers and effectively respond to the problems encountered by consumers, so as to make Tesla develop faster and better in China.

　　Cui Dongshu:At present, Tesla’s sales in China are growing rapidly, but the product quality and consumer protection are not synchronized, which leads to some consumer complaints in Tesla. When the speed develops rapidly, there are many problems, and Tesla should strengthen and improve the relationship between them. Tesla’s development in China should not only focus on speed, but also pay attention to consumers’ feelings, and effectively improve related problems.

　　For Tesla’s response, netizens "fried"

　　"I see, don’t drive Tesla in rainy days."

　　"Tesla redefined the brakes"

　　"As long as I’m not embarrassed, it’s you who are embarrassed."

　　The coming year of 2016 is not only the first year of the decisive stage of building a well-off society in an all-round way, but also the crucial year of promoting supply-side structural reform. Under the leadership of the CPC Central Committee with the Supreme Leader as the core, China’s economy actively adapts to and leads the new normal, various reform measures are solidly promoted, the mode of economic development is constantly changing, and the economic structure is increasingly optimized, achieving a good start in the Thirteenth Five-Year Plan. Taking stock, these achievements are condensed in one major event worth remembering.

　　1 China’s economy is stable and improving.

　　[Event] In the first three quarters of 2016, China’s GDP maintained a growth rate of 6.7%. Looking at the whole year, China’s economy is expected to achieve a medium-to-high-speed growth level of about 6.7% in 2016, showing a general trend of slowing down and stabilizing, stabilizing the middle and improving, and making progress while stabilizing.

　　[Comment] The performance of "stable to good" made China’s economic characteristics of good resilience, sufficient potential and large room for manoeuvre further manifest in 2016. The overall economic performance of China in 2016 conforms to the basic characteristics of speed change, structural optimization and power conversion under the new normal of economic development, which provides a good macroeconomic environment and conditions for improving the quality of economic growth, promoting economic structural optimization and promoting energy conservation and emission reduction.

　　Hu Angang, president of Tsinghua University Institute of National Studies, pointed out that from the international comparison, China still belongs to one of the countries with the highest economic growth rate in the world, and its economic growth rate of around 6.7% is obviously higher than that of the United States, Japan and the European Union. At the same time, China’s total economic output has exceeded $10 trillion. For every 1 percentage point increase on this base, the GDP will exceed $100 billion, which is equivalent to the 1.8 percentage point increase of economic growth in 2010. From this perspective, in 2016, China created a dazzling economic growth highlight in the depressed world economic environment.

　　2 Supply-side reform has achieved results

　　[Event] The task of de-capacity of steel and coal was completed ahead of schedule, the area of commercial housing for sale continued to decline, and the asset-liability ratio of industrial enterprises above designated size declined. In the first 10 months, the cost per 100 yuan of main business income of industrial enterprises above designated size decreased by 0.24 yuan year-on-year, and the investment in the central budget was tilted towards poverty alleviation, infrastructure and industrial upgrading … … Over the past year, the five major tasks of supply-side reform have been comprehensively pushed forward and achieved initial results.

　　[Comment] The action of supply-side structural reform is real, and the results of "three to one, one reduction and one supplement" in some areas exceeded expectations. On the whole, the initial progress made in the five major tasks has brought positive factors such as increased positive changes in production and demand, obvious improvement in market expectations, steady growth in investment, and continuous improvement in corporate efficiency, which has laid a good start for the next reform.

　　Hong Kong Ta Kung Pao article pointed out that compared with the "troika" of investment, consumption and export on the demand side, the supply side includes four elements: labor, land, capital and innovation. The supply-side structural reform in China aims at adjusting the economic structure, optimizing the allocation of factors and improving the quality and quantity of economic growth.

　　3 "camp reform" has been fully promoted.

　　[Event] Since May 1, 2016, China has comprehensively pushed forward the pilot project of changing business tax into value-added tax nationwide, including the construction industry, real estate industry, financial industry and life service industry. The data shows that from January to November, the cumulative tax reduction from the reform of the camp was 469.9 billion yuan, and the total tax reduction scale for the whole year will exceed 500 billion yuan. Many enterprises will get a real "red envelope" from it.

　　[Comment] The "camp reform" is a major strategic deployment made by the Central Committee of the Communist Party of China and the State Council with a view to the overall development of the country, and it is also an important measure for China to implement structural tax reduction under the new normal of economic development.

　　Zhang Lianqi, a member of Chinese People’s Political Consultative Conference, believes that the "camp reform" pilot is a tough battle. On the one hand, this reform has given full play to the tax reduction effect and improved the VAT deduction mechanism, on the other hand, it has also improved the financial environment of the market. In the supply-side structural reform, it is particularly important for enterprises to reduce their burdens, and the "reform of the camp" has played a positive role in reducing taxes and fees, stimulating vitality and cultivating the tax base. In an environment where risks are controllable and the system is fair, improving the specific measures of "reform of the camp" will lay a solid foundation for further reducing the burden on enterprises in 2017.

　　4 G20 delivers "China Plan"

　　[Event] From September 4th to 5th, 2016, the 11th Summit of G20 leaders was held in Hangzhou, China. In view of the current challenges facing the world economy, a series of countermeasures such as "strengthening macro-policy coordination" and "innovating development mode" put forward by China at this summit have been widely affirmed by all walks of life at home and abroad. The "China Plan" is increasingly popular among the people.

　　[Comment] In the era of economic globalization, the economies of all countries tend to be prosperous and lose. Only through cooperation can we achieve common development. Therefore, making the world economy more inclusive and achieving a win-win situation for all countries is both a moral responsibility and an immeasurable effective demand.

　　Neil Renwick, a professor at Coventry University in the United Kingdom, commented that thanks to China’s efforts, the G20 Summit brought key issues such as sustainable development to the core of international politics, and set specific goals to promote all parties to take practical actions to implement important global agreements. It can be said that through this summit, China has laid the foundation for more meaningful international actions, which no other G20 presidency has done before.

　　5 The reform of state-owned enterprises is deepening

　　[Event] Since 2016, the "four beams and eight pillars" of state-owned enterprise reform have sprung up, the "1+N" document system of state-owned enterprise reform has been completed, and the "ten reform pilots" have been fully rolled out, and positive progress has been made in slimming and improving health, improving quality and efficiency, reorganizing and integrating central enterprises, reorganizing and establishing investment and operation companies, innovating and developing, strictly supervising the transfer of SASAC and strengthening the party building of central enterprises.

　　[Comment] The reform of state-owned enterprises is not simply achieved through some institutional adjustments or administrative measures, but is more driven by market players and follows market rules. This will undoubtedly help to change the past problems such as "fuzzy subject, administrative subject and absence of subject", strengthen efficient assets, revitalize inefficient assets and eliminate invalid assets, so that state-owned enterprises can better serve China’s economy.

　　Liu Rui, a professor at the School of Economics of Renmin University of China, believes that the reform of state-owned enterprises has now entered the implementation stage, and the details of policies have been discovered in the pilot, and some supplements and improvements have been made to ensure that the reform of state-owned enterprises will not go astray, and at the same time, it also responds to social concerns. Of course, the reform of state-owned enterprises is a very complicated reform, which requires both top-level design and bottom-line thinking, and requires caution.

　　6 the free trade zone continues to expand.

　　[Event] In August 2016, China decided to establish seven new pilot free trade zones in Liaoning Province, Zhejiang Province, Henan Province, Hubei Province, Chongqing City, Sichuan Province and Shaanxi Province on the basis of the successful construction of pilot free trade zones in Shanghai, Guangdong, Tianjin and Fujian.

　　[Comment] The purpose of setting up a free trade zone in China is to try a legal, international and market-oriented business environment construction path and operation mode by setting up a free trade zone, and create an experimental field for an open economic system; The second is to build a typical free trade zone that is in line with international standards, free trade, convenient investment and financial liberalization; The third is to form an open economic model that can be popularized and replicated; Fourth, drive the development of the surrounding economy and make it a new growth point of China economy.

　　Tong Jiadong, vice president of Nankai University, believes that from the practice in the past few years, the goal of setting up a free trade zone in China has been initially achieved, and many bold explorations have been made in the construction of institutional mechanisms, which have achieved results in some fields. The birth of the third batch of pilot free trade zones not only reflects China’s clear orientation of adhering to reform and opening up, but also fully shows that China’s implementation of the free trade pilot zone strategy is completely in line with its own economic development reality.

　　7 RMB "into the basket"

　　[Event] Since October 1, 2016, the RMB has been officially included in the Special Drawing Rights (SDR) currency basket of the International Monetary Fund and has become one of the official reserve currencies of the International Monetary Fund.

　　[Comment] SDR is an important international reserve asset to make up for the shortage of official reserves of member countries. Before "entering the basket", the RMB was just the currency of China in a sense. RMB joining SDR means that central banks and many international institutions will actively or automatically increase their holdings of RMB assets as foreign exchange reserves. In the long run, this means that the RMB has been further recognized internationally.

　　Siddharth Tiwari, director of the Strategy, Policy and Review Department of the International Monetary Fund, believes that the entry of RMB into the basket is an important milestone for China to integrate into the global financial market, and it is also the world’s recognition of China’s continuous reform. RMB’s participation in SDR currency basket can better reflect the composition of major currencies in the world today, help to enhance the representativeness and attractiveness of SDR, and promote a more stable international financial and monetary system, thus contributing to the stability and growth of the global economy. After the entry of RMB into the basket, China will also need to continuously improve the transparency of its exchange rate policy.

　　8. Reform and filing of foreign investment approval

　　[Event] On October 8, 2016, the Ministry of Commerce issued the Interim Measures for the Administration of the Establishment and Change of Foreign-invested Enterprises. Since then, the establishment and change of foreign-invested enterprises will be changed from examination and approval to filing, and filing will not be used as a precondition for handling industrial and commercial and foreign exchange registration procedures, if it does not involve the prohibited or restricted categories in the 2015 edition of the Catalogue for the Guidance of Foreign-invested Industries, or the provisions on equity and senior management requirements in the encouraged categories.

　　[Comment] For a long time, there have been two different management systems for foreign-funded and domestic-funded enterprises in China. On the one hand, domestic and foreign investors face different tax treatment, there is a special examination and approval system for the establishment and change of foreign-invested enterprises, and foreign investment access faces many restrictions; On the other hand, the establishment and perfection of the socialist market economic system objectively requires the establishment of a fair competitive business environment.

　　Cui Fan, a professor in university of international business and economics, believes that the reform of foreign investment filing system has adopted the way of "establishing the trunk first, then adding branches and leaves". In the case that it is necessary to continue to promote the revision of the three laws on foreign investment and the legislative process of the unified Foreign Investment Law, this reform has grasped the key issues and made key breakthroughs in time, which is commendable.

　　9 Strengthen the protection of property rights

　　[Event] In November 2016, the Opinions of the Central Committee of the Communist Party of China and the State Council on Improving the Property Rights Protection System and Protecting Property Rights according to Law was officially issued. This opinion has made a "top-level design" for property rights protection from many aspects, such as strengthening the protection of economic property rights of various ownership systems, improving the legal system for equal protection of property rights, properly handling property rights cases formed in history, and strictly regulating the legal procedures for the disposal of property involved.

　　[Analysis] Those who have constant production have perseverance. Microscopically, the protection of property rights involves the vital interests of thousands of families; Macroscopically, the effective protection and realization of property rights of economic subjects is the basis for sustained and healthy economic and social development. This opinion gives a clear solution to the long-standing "loopholes" and "dead ends" in China’s property rights protection, which is helpful to stimulate creativity in all aspects and benefit China’s economy in an all-round way.

　　Miao Rong, chief researcher of china enterprise confederation Enterprise Research Center, said that protecting all kinds of ownership rights equally embodies the spirit of fairness and will play a role of "reassuring" and "ballast stone" in enhancing the confidence of private and foreign-funded enterprises. In the long run, the implementation of this opinion is obviously conducive to optimizing the business environment of various enterprises, avoiding vicious competition in various places, and the relationship between politics and business will be more "pro-"and "clear".

　　10. Clear positioning of the property market

　　[Event] After a series of regulatory measures in the second half of 2016, the relationship between "restricted purchase" and "destocking" in the property market had a clear answer at the year-end Central Economic Work Conference. The meeting pointed out that it is necessary to adhere to the positioning that "houses are used for living, not for speculation".

　　[Comment] In the past, the real estate industry was more regarded as an economic growth point and a consumption hotspot; Nowadays, the real estate industry is positioned as a livelihood industry that supports economic and social development. The 2016 Central Economic Work Conference will undoubtedly have a far-reaching positive impact on the stable and healthy development of the real estate market and even China’s economy.

　　Liu Hongyu, director of Tsinghua University Real Estate Research Institute, said that overemphasizing the investment attribute of housing will damage its residential attribute. At present, China is in a critical period of economic transformation and structural adjustment. In order to achieve the goal of building a well-off society in an all-round way, we must concentrate on putting major social resources and capabilities into reform and innovation, economic growth and social development. At this stage, emphasizing the residential property of housing is to avoid putting too much social resources into it in pursuit of virtual housing value.

　　Xinhua News Agency, Dakar, April 25th Communication: From Import to "Made in Africa" — — China pharmaceutical companies help the sustainable development of Mali pharmaceutical industry.

　　Xinhua News Agency reporter Wang Zizheng

　　Clean modern factory building, clear division of labor operation area and high-speed production line … … In the factory building of Renfu African Pharmaceutical Co., Ltd. (hereinafter referred to as "Renfu African Pharmaceutical") located in Bamako, the capital of Mali, a West African country, Pascal, a local employee, is inspecting production posts and sampling semi-finished products to ensure the safe operation of all aspects of production.

　　Pascal, a local employee, is testing equipment in the Renfu Africa Pharmaceutical Factory in Bamako, the capital of Mali (photo taken on April 3, 2023). Xinhua News Agency (Photo courtesy of Renfu Africa Pharmaceutical Co., Ltd.)

　　In 2015, Renfu African Pharmaceutical was completed and put into operation in Bamako. As one of the earliest pharmaceutical companies that responded to the "Belt and Road Initiative", Renfu Africa Pharmaceutical became the first localized pharmaceutical factory in Mali and the most modern pharmaceutical factory with the highest construction standards in West Africa.

　　Prior to this, Mali’s pharmaceutical manufacturing industry was almost blank, and most of the pharmaceutical market was monopolized by expensive imported drugs. It was normal for the people to lack medical care and medicine. In 2013, Renfu Pharmaceutical and china-africa development fund jointly invested 350 million yuan to establish Renfu African Pharmaceutical Co., Ltd. in Bamako, which brought dawn to the local pharmaceutical manufacturing industry.

　　Ibrahim keita, the former president of Mali, once commented: "The people of Jeanmarie, a China pharmaceutical factory, benefited and helped us to acquire the ability to produce drugs independently, ending the history that Mali could not produce drugs."

　　In the Renfu African Pharmaceutical Factory in Bamako, the capital of Mali, workers test equipment (photo taken on April 3, 2023). Xinhua News Agency (Photo courtesy of Renfu Africa Pharmaceutical Co., Ltd.)

　　Li Wensheng, chairman of Renfu African Pharmaceutical Co., Ltd., said in an interview: "After years of operation and hard work, we have not only ensured the accessibility of drugs, but also ensured the sustainability of enterprises in terms of economic and social benefits."

　　This modern pharmaceutical factory adopts fully automatic production equipment, and completely adopts domestic pharmaceutical factory standards from design, construction to production technology. "Now our drugs are sold to all French-speaking countries in West Africa, occupying the mainstream drug market in the region." Li Wensheng said.

　　Pascal was originally a construction worker. After being hired by Renfu African Pharmaceutical, he studied equipment operation knowledge, improved his work skills and learned Chinese, and gradually moved from a grass-roots operator to a middle-level management position. Today, there are nearly 200 local employees like Pascal. Renfu African Pharmaceutical Company pays attention to localized operation and has trained a large number of industrial technical workers and management talents for the company and society.

　　"At present, the localization ratio of the factory has reached 95%, and the production operation posts and grass-roots management posts have been 100% localized, effectively realizing the drug ‘ Made in Mali ’ 。” Li Wensheng said.

　　The investment and construction of Renfu African Pharmaceutical not only improved the local pharmaceutical level, but also promoted the development of the industrial chain. "In the past, our factory was located in a wasteland, but now many factories have been established here. The demand for upstream and downstream supply chains of products has driven the improvement of local industrialization level. " Li Wensheng said.

　　After more than ten years of intensive cultivation in the pharmaceutical industry in Africa, Li Wensheng said, "I hope that through our efforts, we can provide more high-quality and low-priced drugs for the local people and provide protection for the health of the people in the whole West Africa."

　　Pascal has been working in Renfu African pharmaceutical industry for 8 years, where he has learned knowledge and skills, gained a stable income and got a better and better life. "Human happiness brings us not only a stable income and a dignified life, but more importantly, hope." He said.

　　(On July 5th, 1994, the 8th meeting of the 8th the NPC Standing Committee passed the first amendment according to the Decision on Amending the Urban Real Estate Management Law of People’s Republic of China (PRC) of the 29th meeting of the 10th the NPC Standing Committee on August 30th, 2007, and the second amendment according to the Decision on Amending Some Laws of the 10th meeting of the 11th the NPC Standing Committee on August 27th, 2009. The amendment is based on the Decision on Amending the Land Administration Law of the People’s Republic of China and the Urban Real Estate Administration Law of People’s Republic of China (PRC) at the 12th meeting of the 13th the NPC Standing Committee on August 26th, 2019).

　　Catalogue

　　Chapter I General Provisions

　　Chapter II Land for Real Estate Development

　　Section 1 Transfer of Land Use Rights

　　Section 2 Allocation of Land Use Rights

　　Chapter III Real Estate Development

　　Chapter IV Real Estate Transactions

　　Section 1 General Provisions

　　Section 2 Transfer of Real Estate

　　Section 3 Real Estate Mortgage

　　Section 4 Housing Lease

　　Section 5 Intermediary service institutions

　　Chapter V Registration Management of Real Estate Ownership

　　Chapter VI Legal Liability

　　Chapter VII Supplementary Provisions

　　Chapter I General Provisions

　　Article 1 This Law is formulated with a view to strengthening the management of urban real estate, maintaining the order of the real estate market, safeguarding the legitimate rights and interests of real estate owners and promoting the healthy development of the real estate industry.

　　Article 2 This Law shall be observed in obtaining the land use right of real estate development land, engaging in real estate development, real estate transaction and real estate management within the state-owned land in People’s Republic of China (PRC) urban planning area (hereinafter referred to as state-owned land).

　　The term "houses" as mentioned in this Law refers to buildings and structures such as houses on land.

　　The term "real estate development" as mentioned in this Law refers to the construction of infrastructure and houses on the land that has obtained the right to use state-owned land according to this Law.

　　Real estate transactions mentioned in this Law include real estate transfer, real estate mortgage and house lease.

　　Article 3 The state practices a system of paid and limited use of state-owned land according to law. However, unless the state allocates the right to use state-owned land within the scope prescribed by this law.

　　Article 4 The state shall, according to the level of social and economic development, support the development of residential buildings and gradually improve the living conditions of residents.

　　Fifth real estate owners should abide by laws and administrative regulations and pay taxes according to law. The legitimate rights and interests of real estate owners are protected by law, and no unit or individual may infringe upon them.

　　Article 6 In order to meet the needs of public interests, the state may expropriate the houses of units and individuals on state-owned land, and give compensation for demolition according to law, so as to safeguard the legitimate rights and interests of the expropriated person; Where individual houses are expropriated, the living conditions of the expropriated person shall also be guaranteed. The specific measures shall be formulated by the State Council.

　　Seventh the State Council construction administrative departments and land management departments shall, in accordance with the division of functions and powers stipulated by the State Council, carry out their duties and cooperate closely to manage the national real estate work.

　　The establishment of the real estate management and land management departments of local people’s governments at or above the county level and their functions and powers shall be determined by the people’s governments of provinces, autonomous regions and municipalities directly under the Central Government.

　　Chapter II Land for Real Estate Development

　　Section 1 Transfer of Land Use Rights

　　Article 8 Transfer of land use right refers to the act that the state transfers the state-owned land use right (hereinafter referred to as land use right) to land users within a certain period of time, and the land users pay the land use right transfer fee to the state.

　　Article 9 The right to use the collectively-owned land in a planned urban area can only be transferred with compensation after it has been expropriated and turned into state-owned land according to law, except as otherwise provided by law.

　　Article 10 The assignment of land use rights must conform to the overall land use planning, urban planning and annual construction land plan.

　　Article 11 Where a local people’s government at or above the county level transfers the land use right for real estate development, it shall draw up an annual plan for transferring the total area of land use right according to the control indicators issued by the people’s government at or above the provincial level, and submit it to the State Council or the provincial people’s government for approval in accordance with the provisions of the State Council.

　　Twelfth land use rights transfer, by the city and county people’s government in a planned and step-by-step manner. The land management department of the people’s government of the city or county shall, jointly with the urban planning, construction and real estate management departments, draw up a plan for each plot, use, life and other conditions, and implement it after being approved by the people’s government with the right of approval in accordance with the provisions of the State Council.

　　The exercise of the powers prescribed in the preceding paragraph by the county people’s governments of municipalities directly under the Central Government and their relevant departments shall be prescribed by the people’s governments of municipalities directly under the Central Government.

　　Thirteenth transfer of land use rights, can take the form of auction, bidding or mutual agreement.

　　Commercial, tourism, entertainment and luxury residential land, conditional, must be taken by auction and tender; If auction or tender cannot be adopted without conditions, it can be agreed by both parties.

　　The transfer fee for transferring the land use right by mutual agreement shall not be lower than the lowest price determined by the state.

　　Article 14 The maximum term of assignment of land use rights shall be stipulated by the State Council.

　　Fifteenth transfer of land use rights, a written transfer contract shall be signed.

　　The land use right transfer contract is signed by the land management department of the people’s government of the city or county and the land user.

　　Sixteenth land users must pay the transfer fee for land use rights in accordance with the transfer contract; Failing to pay the transfer fee for the land use right as agreed in the transfer contract, the land management department has the right to terminate the contract and may request compensation for breach of contract.

　　Seventeenth land users in accordance with the transfer contract to pay the transfer fee of land use rights, the land management department of the people’s government of the city or county must provide the land sold in accordance with the transfer contract; If the leased land is not provided in accordance with the transfer contract, the land user has the right to terminate the contract, and the land management department will return the land use right transfer fee, and the land user may also request compensation for breach of contract.

　　Article 18 If a land user needs to change the land use agreed in the land use right transfer contract, he must obtain the consent of the transferor and the competent department of urban planning administration of the municipal or county people’s government, sign an agreement on the change of the land use right transfer contract or re-sign the land use right transfer contract, and adjust the land use right transfer fee accordingly.

　　Nineteenth land use rights transfer fees should be turned over to the finance, included in the budget, for urban infrastructure construction and land development. The specific measures for the payment and use of land use right transfer fees shall be formulated by the State Council.

　　Article 20 The state shall not take back the land use right legally obtained by land users before the expiration of the service life stipulated in the transfer contract; Under special circumstances, according to the needs of social public interests, it can be recovered in advance in accordance with legal procedures, and corresponding compensation can be given according to the actual years of land use and the actual situation of land development by land users.

　　Twenty-first land use rights shall be terminated due to the loss of land.

　　Twenty-second land use rights transfer contract expires, the land users need to continue to use the land, should apply for renewal at the latest one year before the expiration, except for the need to recover the land according to social and public interests, it should be approved. If the renewal is approved, the land use right transfer contract shall be re-signed and the land use right transfer fee shall be paid in accordance with the regulations.

　　The land use right transfer contract expires, and the land user fails to apply for renewal, or if the application for renewal is not approved in accordance with the provisions of the preceding paragraph, the land use right shall be recovered by the state free of charge.

　　Section 2 Allocation of Land Use Rights

　　Article 23 The allocation of land use right refers to the act that the people’s government at or above the county level approves the land user to use it after paying compensation, resettlement and other expenses, or the land use right is delivered to the land user for free.

　　Unless otherwise provided by laws and administrative regulations, there is no restriction on the term of use if the land use right is obtained by allocation in accordance with the provisions of this Law.

　　Twenty-fourth the following construction land use rights, which are really necessary, can be approved by the people’s governments at or above the county level according to law:

　　(a) land for state organs and military use;

　　(2) Land for urban infrastructure and public welfare undertakings;

　　(3) Land for energy, transportation, water conservancy and other projects supported by the state;

　　(four) other land as prescribed by laws and administrative regulations.

　　Chapter III Real Estate Development

　　Twenty-fifth real estate development must strictly implement urban planning, and implement comprehensive planning, rational layout, comprehensive development and supporting construction in accordance with the principle of unity of economic benefits, social benefits and environmental benefits.

　　Twenty-sixth to obtain land use rights for real estate development by means of transfer, the land must be developed in accordance with the land use and the development period agreed in the land use right transfer contract. If the development has not started for one year beyond the date agreed in the transfer contract, a land idle fee equivalent to less than 20% of the transfer fee for land use rights may be levied; If the development has not started for two years, the land use right can be recovered free of charge; However, unless the commencement of development is delayed due to force majeure or the actions of the government and relevant government departments or the preliminary work necessary for the commencement of development.

　　Article 27 The design and construction of real estate development projects must conform to the relevant national standards and norms.

　　Real estate development projects can only be delivered after they are completed and accepted.

　　Article 28 Land use rights obtained according to law may be invested in shares at a fixed price for joint venture and cooperation in the development and operation of real estate in accordance with this Law and relevant laws and administrative regulations.

　　Article 29 The State shall adopt preferential measures such as taxation to encourage and support real estate development enterprises to develop and build residential houses.

　　Thirtieth real estate development enterprises are enterprises engaged in real estate development and management for the purpose of making profits. The establishment of a real estate development enterprise shall meet the following conditions:

　　(1) Having its own name and organization;

　　(2) Having a fixed business place;

　　(3) Having a registered capital meeting the requirements of the State Council;

　　(four) there are enough professional and technical personnel;

　　(5) Other conditions stipulated by laws and administrative regulations.

　　The establishment of a real estate development enterprise shall apply to the administrative department for industry and commerce for registration of establishment. The administrative department for industry and commerce shall register and issue a business license to those who meet the requirements stipulated in this law; Those who do not meet the requirements stipulated in this law shall not be registered.

　　Where a limited liability company or a joint stock limited company is established to engage in real estate development and operation, the relevant provisions of the Company Law shall also be implemented.

　　A real estate development enterprise shall, within one month after receiving its business license, go to the department designated by the local people’s government at or above the county level where the registration authority is located for the record.

　　Thirty-first real estate development enterprises registered capital and total investment ratio shall comply with the relevant provisions of the state.

　　If a real estate development enterprise develops real estate by stages, the amount of investment by stages shall be commensurate with the scale of the project, and in accordance with the stipulations of the land use right transfer contract, it shall invest funds on schedule for the project construction.

　　Chapter IV Real Estate Transactions

　　Section 1 General Provisions

　　Article 32 When real estate is transferred or mortgaged, the ownership of the house and the land use right within the occupied area of the house shall be transferred and mortgaged at the same time.

　　Thirty-third benchmark land price, demarcation land price and the replacement price of all kinds of houses shall be determined and published regularly. The specific measures shall be formulated by the State Council.

　　Article 34 The State practices a real estate price appraisal system.

　　The evaluation of real estate price should follow the principles of justice, fairness and openness, and be based on the benchmark land price, the calibrated land price and the replacement price of various houses with reference to the local market price in accordance with the technical standards and evaluation procedures stipulated by the state.

　　Article 35 The State implements the system of declaring the transaction price of real estate.

　　When transferring real estate, the owner of real estate shall truthfully declare the transaction price to the department specified by the local people’s government at or above the county level, and shall not conceal or make false declaration.

　　Article 36 When transferring or mortgaging real estate, the parties concerned shall register the ownership in accordance with the provisions of Chapter V of this Law.

　　Section 2 Transfer of Real Estate

　　Article 37 The transfer of real estate refers to the act that the owner of real estate transfers his real estate to others through sale, gift or other legal means.

　　Article 38 The following real estates may not be transferred:

　　(a) the land use right is obtained by means of transfer, which does not meet the conditions stipulated in Article 39 of this Law;

　　(two) the judicial organs and administrative organs have ruled or decided to seal up or restrict the real estate rights in other forms according to law;

　　(three) to recover the land use right according to law;

　　(four) a total of real estate, without the written consent of other co-owners;

　　(five) the ownership is controversial;

　　(six) failing to register and obtain the ownership certificate according to law;

　　(seven) other circumstances in which the transfer is prohibited by laws and administrative regulations.

　　Thirty-ninth to obtain land use rights by way of transfer, the transfer of real estate, shall meet the following conditions:

　　(a) according to the transfer contract, all the land use right transfer fees have been paid, and the land use right certificate has been obtained;

　　(two) in accordance with the transfer contract agreed to invest in development, which belongs to housing construction projects, more than 25% of the total investment in development, which belongs to the development of land in pieces, forming industrial land or other construction land conditions.

　　If the house has been built when the real estate is transferred, it shall also hold the house ownership certificate.

　　Fortieth, if the land use right is obtained by allocation, the transfer of real estate shall be reported to the people’s government with the right of approval for examination and approval in accordance with the provisions of the State Council. If the people’s government with the approval authority approves the transfer, the transferee shall go through the formalities for transferring the land use right and pay the transfer fee for the land use right in accordance with the relevant provisions of the state.

　　If the land use right is obtained by means of allocation, and the people’s government with the right of approval decides not to go through the formalities of transferring the land use right when the real estate is transferred for approval, the transferor shall turn over the land proceeds from the transfer of real estate to the state or make other treatments in accordance with the provisions of the State Council.

　　Forty-first real estate transfer, a written transfer contract shall be signed, and the contract shall specify the way to obtain the land use right.

　　Forty-second when the real estate is transferred, the rights and obligations specified in the land use right transfer contract will be transferred accordingly.

　　Article 43 If the land use right is obtained by means of transfer, after the transfer of real estate, the service life of the land use right shall be the remaining service life after deducting the service life agreed in the original land use right transfer contract from the service life of the original land user.

　　Article 44 If the land use right is obtained by transfer, and the transferee changes the land use agreed in the original land use right transfer contract after the transfer of real estate, it must obtain the consent of the original transferor and the competent department of urban planning administration of the people’s government of the city or county, sign an agreement on the change of the land use right transfer contract or re-sign the land use right transfer contract, and adjust the land use right transfer fee accordingly.

　　Article 45 The pre-sale of commercial housing shall meet the following conditions:

　　(a) has paid all the land use right transfer fees and obtained the land use right certificate;

　　(2) Holding a construction project planning permit;

　　(three) according to the pre-sale of commercial housing, the investment in development and construction has reached more than 25% of the total investment in engineering construction, and the construction progress and completion delivery date have been determined;

　　(four) to handle the pre-sale registration with the real estate management department of the people’s government at or above the county level, and obtain the pre-sale permit certificate of commercial housing.

　　The pre-sale of commercial housing shall, in accordance with the relevant provisions of the state, report the pre-sale contract to the real estate management department and land management department of the people’s government at or above the county level for registration.

　　The proceeds from the pre-sale of commercial housing must be used for related engineering construction.

　　Forty-sixth commercial housing pre-sale, commercial housing pre-buyers will buy unfinished pre-sale commercial housing re-transfer, by the the State Council.

　　Section 3 Real Estate Mortgage

　　Article 47 The mortgage of real estate refers to the act that the mortgagor provides the mortgagee with the debt performance guarantee with his legal real estate without transferring possession. When the debtor fails to perform his debts, the mortgagee has the right to be paid in priority with the proceeds from the auction of mortgaged real estate according to law.

　　Article 48 A legally acquired house ownership together with the land use right within the occupied area of the house may be mortgaged.

　　The right to use the land obtained by means of transfer may be mortgaged.

　　Forty-ninth real estate mortgage shall be handled with the certificate of land use right and the certificate of house ownership.

　　Fiftieth real estate mortgage, the mortgagor and the mortgagee shall sign a written mortgage contract.

　　Article 51 The right to use the land for mortgage of real estate is obtained by allocation. After auctioning the real estate according to law, the mortgagee shall be paid the amount equivalent to the payable land use right transfer fee from the auction price.

　　Fifty-second after the signing of the real estate mortgage contract, the new houses on the land do not belong to the mortgaged property. When the mortgaged real estate needs to be auctioned, the newly-added houses on the land can be auctioned together with the mortgaged property according to law, but the mortgagee has no right to be compensated in priority for the income from the auction of newly-added houses.

　　Section 4 Housing Lease

　　Article 53 Lease of a house refers to the act that the owner of the house, as the lessor, rents his house to the lessee for use, and the lessee pays the rent to the lessor.

　　Article 54 For house leasing, the lessor and the lessee shall sign a written lease contract, stipulating the lease term, lease purpose, lease price, repair responsibility, and other rights and obligations of both parties, and register with the real estate management department for the record.

　　Article 55 The lease of residential houses shall be subject to the lease policy stipulated by the state and the people’s government of the city where the houses are located. Rental housing engaged in production and business activities, the rental and other lease terms agreed by both parties.

　　Article 56 For the purpose of making profits, if the house owner rents out the house built on the state-owned land that has obtained the right to use by allocation, he shall turn over the land income contained in the rent to the state. The specific measures shall be formulated by the State Council.

　　Section 5 Intermediary service institutions

　　Fifty-seventh real estate intermediary service agencies include real estate consulting agencies, real estate price assessment agencies, real estate brokerage agencies and so on.

　　Article 58 A real estate intermediary service institution shall meet the following conditions:

　　(1) Having its own name and organization;

　　(2) Having a fixed service place;

　　(3) Having necessary property and funds;

　　(4) Having a sufficient number of professionals;

　　(5) Other conditions stipulated by laws and administrative regulations.

　　The establishment of a real estate intermediary service institution shall apply to the administrative department for industry and commerce for registration of establishment and obtain a business license before it can start business.

　　Article 59 The State practices the qualification certification system for real estate appraisers.

　　Chapter V Registration Management of Real Estate Ownership

　　Article 60 The state practices a system of registration and certification of land use rights and house ownership.

　　Article 61 To obtain the land use right by transfer or allocation, an application for registration shall be made to the land administration department of the local people’s government at or above the county level. After verification by the land administration department of the local people’s government at or above the county level, the land use right certificate shall be issued by the people’s government at the same level.

　　If a house is built on the land for real estate development obtained according to law, it shall apply for registration to the real estate management department of the local people’s government at or above the county level with the certificate of land use right, and the real estate management department of the local people’s government at or above the county level shall verify and issue the certificate of ownership of the house.

　　When real estate is transferred or changed, it shall apply to the real estate management department of the local people’s government at or above the county level for registration of change of real estate, and apply to the land management department of the people’s government at the same level for registration of change of land use right on the basis of the changed house ownership certificate. After verification by the land management department of the people’s government at the same level, the people’s government at the same level shall replace or change the land use right certificate.

　　If it is otherwise provided by law, it shall be handled in accordance with the provisions of relevant laws.

　　Article 62 When a real estate is mortgaged, it shall be registered with the department specified by the local people’s government at or above the county level.

　　Where the land use right and house ownership are obtained due to the disposal of mortgaged real estate, the transfer registration shall be handled in accordance with the provisions of this chapter.

　　Article 63 Where it is determined by the people’s governments of provinces, autonomous regions and municipalities directly under the Central Government that the local people’s governments at or above the county level are in charge of real estate management and land management by one department, they may make and issue a unified real estate title certificate, and in accordance with the provisions of Article 61 of this Law, the confirmation and change of the ownership of the house and the land use right within the occupied area of the house shall be recorded in the real estate title certificate respectively.

　　Chapter VI Legal Liability

　　Article 64 Whoever, in violation of the provisions of Articles 11 and 12 of this Law, approves the assignment or assigns the land use right for real estate development without authorization shall be given administrative sanctions by the higher authorities or the unit to which he belongs.

　　Article 65 Anyone who, in violation of the provisions of Article 30 of this Law, engages in real estate development business without obtaining a business license shall be ordered by the administrative department for industry and commerce of the people’s government at or above the county level to stop real estate development business, his illegal income shall be confiscated and he may also be fined.

　　Article 66 Where the right to use land is transferred in violation of the provisions of the first paragraph of Article 39 of this Law, the illegal income shall be confiscated by the land administration department of the people’s government at or above the county level, and a fine may also be imposed.

　　Article 67 Where a real estate is transferred in violation of the provisions of the first paragraph of Article 40 of this Law, the land administration department of the people’s government at or above the county level shall order it to pay the leasing fee for the right to use the land, confiscate its illegal income and may concurrently impose a fine.

　　Article 68 Whoever presales a commercial house in violation of the provisions of the first paragraph of Article 45 of this Law shall be ordered by the real estate management department of the people’s government at or above the county level to stop the pre-sale activities, confiscate the illegal income and may also be fined.

　　Article 69 Anyone who, in violation of the provisions of Article 58 of this Law, engages in real estate intermediary services without obtaining a business license shall be ordered by the administrative department for industry and commerce of the people’s government at or above the county level to stop the real estate intermediary services, his illegal income shall be confiscated and he may also be fined.

　　Article 70 If a real estate development enterprise is charged without the basis of laws and regulations, the higher authorities shall order it to return the money collected; If the circumstances are serious, the person directly responsible shall be given administrative sanctions by the higher authorities or the unit to which he belongs.

　　Seventy-first real estate management department, land management department staff dereliction of duty, abuse of power, which constitutes a crime, shall be investigated for criminal responsibility according to law; If it does not constitute a crime, it shall be given administrative sanctions.

　　If the staff of the real estate management department and the land management department take advantage of their positions to ask for other people’s property, or illegally accept other people’s property to seek benefits for others, which constitutes a crime, criminal responsibility shall be investigated according to law; If it does not constitute a crime, it shall be given administrative sanctions.

　　Chapter VII Supplementary Provisions

　　Article 72 Obtaining the land use right of real estate development land, engaging in real estate development and trading activities and implementing real estate management within the state-owned land outside the urban planning area shall be implemented with reference to this Law.

　　Article 73 This Law shall come into force as of January 1, 1995.