[car home Information] Recently, China Insurance Research Automobile Technology Research and Test Center (Beijing) Co., Ltd. announced the crash test results of nine models, and this round of test was conducted according to the 2020 edition of China Insurance Automobile Safety Index (hereinafter referred to as "C-IASI").

　　The results involved nine models (|), Dongfeng Honda CR-V, BYD Seals, Nezha S, Great Wall Shanhai Gun, Changan Auchan Z6, Beijing Hyundai MUFASA Musa, Changan Mazda CX-50, and Lantu Zhuiguang, including four SUVs, four cars and one pickup truck, among which three are new energy vehicles (BYD Seals, Nezha S, Lantu Zhuguang).

"mercedes benz c-class front-end low-speed structural collision"

　　The evaluation results show that the sub-indexes of crashworthiness and maintenance economy are as follows: 1 vehicle got a good (A),5 vehicles got an average (m), and 3 vehicles got a poor (p) evaluation (Changan Auchan Z6, Beijing Hyundai MUFASA Musa, Lantu Zhuiguang). 2 models with excellent evaluation in terms of structural crashworthiness score, and both models are evaluated as 0 defects (Beijing mercedes benz c Class and Changan Mazda CX-50 Line); 1 model with good evaluation in maintainability score (Changan Mazda CX-50 line also); 1 model (Great Wall Shanhai Gun) with excellent evaluation in maintenance economy score; Two models (Dongfeng Honda CR-V, Lantu Zhuiguang) that have received excellent evaluation on collision compatibility. In addition, in the frontal low-speed crash test, one vehicle airbag exploded.

"BYD seal driver’s side frontal 25% offset collision"

　　In-vehicle occupant safety sub-index, the evaluation results of nine models are all excellent (G), and in the driver’s side frontal 25% offset collision condition, there are eight models with excellent evaluation, of which six models are evaluated as 0 defects (Beijing mercedes benz c Class, BYD Seal, Nezha S, Beijing Hyundai MUFASA Musa, Changan Mazda CX-50 Hangye, Lantu Zhuiguang).

"Honda CR-V Side Impact"

　　In the case of side impact, 9 models obtained excellent evaluation, of which 7 models were evaluated as 0 defects (Dongfeng Honda CR-V, BYD Seal, Nezha S, Great Wall Shanhai Gun, Changan Auchan Z6, Changan Mazda CX-50 Line, Lantu Zhuiguang); The proportion of vehicles with excellent evaluation in top pressure condition is 100%; The proportion of vehicles with excellent evaluation in whiplash condition is 100%. In addition, one vehicle model (Changan Mazda CX-50 line) voluntarily applied for a 25% offset collision on the front side of the passenger, and obtained excellent evaluation, with the evaluation defect value of 0.

"Leg Type Test of the Great Wall Shanhai Gun"

AEB VRU test of automatic emergency braking system for pedestrians and cyclists in Nezha.

　　According to the safety sub-index of drivers and laymen, the evaluation results of 9 models are excellent (G). In the sub-index of vehicle auxiliary safety, all nine models got excellent (G) evaluation, among which six models were equipped with AEB function as standard, with an equipment rate of 66.7%, and seven models were equipped with emergency rescue service (E-call) function, with an equipment rate of 77.8%. Among the nine evaluation models released this time, the Great Wall Shanhai Gun, the N1 model, is included for the first time, and it is also the first time that C-IASI has sampled N1 models within the scope of the regulations, which means that the measured range of C-IASI vehicles is further expanded, the test results are richer and the service objects are wider. (Source: WeChat WeChat official account: CIASI Insurance Automobile Safety Index; Compile/car home Yan Huan)

　　On October 1st, data released by institute for supply management (ISM) showed that the PMI of the United States hit a 10-year low in September, and the risk rose again. Affected by this, US stocks plunged. Last night, US stocks continued to decline. The Dow fell more than 400 points and the Nasdaq fell nearly 1.5%.

　　However, according to the latest data from the National Bureau of Statistics of China, the manufacturing PMI in September was 49.8%, up 0.3 percentage points from last month. Although it was still below threshold, the overall prosperity index improved from last month, and both production and demand improved. This also means that under the background of strengthening the countercyclical adjustment of macro policies, China’s economic operation has maintained a generally stable, steady and progressive development trend. Therefore, in the capital market, it is worth looking forward to whether A-shares can get out of a new round of rising after continuous adjustment, especially the emerging science and technology enterprises with brand, technology, efficiency and leading social progress are expected to stand out.

　　Text/Guangzhou Daily All-Media Reporter Zhang Zhongan

　　The PMI of the United States in September was 47.8, which was significantly lower than expected, the lowest level since June 2009, and the PMI of ISM manufacturing in the United States was below 50 for the second consecutive month. A reading below 50 indicates that the manufacturing industry is shrinking. Before the superposition, the yield of government bonds was upside down, and the market’s concerns about the weakening or even recession of the US economy quickly warmed up, and the three major stock indexes collectively plummeted.

　　According to ISM data, the index of new export orders was only 41% in the PMI classification index of the United States in September, which was the lowest level since March 2009, especially since July 2019. Timothy Fiore, chairman of ISM, said in a statement that global trade remains the most critical issue. Moreover, due to insufficient demand, the employment index of the ISM industry is the lowest level since January 2016. At the same time, the indexes of new orders, backlog orders, import and export of raw material inventory in September also contracted comprehensively.

　　Therefore, the market is worried about the recession risk of the US economy. For example, the chief economist of Deutsche Bank said in a report published on Tuesday that the current economic slowdown in the United States is not over and the risk of recession has already occurred.

　　In addition, according to the latest data, the economic situation in Europe seems to be not very optimistic. Among them, the final PMI of the manufacturing industry in the euro zone in September was 45.7, the lowest level since October 2012. The final value of new orders was 43.4, the lowest level since October 2012.

　　The economic situation in Europe and America has put pressure on the capital market. Meng Yun, an analyst at CICC, pointed out that the global economic slowdown has made the capital expenditure of American manufacturing and enterprises weak, which will inevitably drag down the relatively stable consumption and real estate demand at present. If this happens, the risk of recession may rise significantly. Therefore, in the eyes of many people, after ten years of continuous rise, the US stock market is also facing the pressure of peaking in stages.

　　It is worth noting that in the process of strengthening the countercyclical adjustment of macro-policies, paying close attention to the implementation of policies to stabilize employment, finance, foreign trade, foreign investment, and expectations, China’s economic operation has maintained a generally stable, steady and progressive development trend.

　　The improvement of macroeconomic indicators also makes the market have more expectations for the capital market. Some institutional sources predict that A shares are expected to usher in a new round of rise under the influence of many favorable factors.

　　Expert opinion

　　Wang Delun, chief strategist of Industrial Securities: Looking back on the 40-year history of reform and opening-up, the dividend of the first round of commodity market opening, China’s entry into WTO and the opening of current account made China’s economy successfully rank second in the world. The next dividend for the transformation and upgrading and the second round of capital account opening is very important, and it has already started, which will also have an all-round impact on the stock market, financial market and economy. Drawing on the experience of Japanese and Korean economies, the dividend of financial opening will support China’s high-quality assets such as the stock market for a long time, among which the stock market is the most beneficial. Wang Delun even believes that the stock market is expected to usher in the first "long cow" in history.

　　Li Xunlei, Chief Economist of Zhongtai Securities: Looking at the world, not only the developed economies showed signs of recession, but also the Indian economy slowed down, while China’s economy actually took the lead in the process of slowing down. He also pointed out that the new kinetic energy of domestic economic growth should mainly come from scientific and technological progress, such as information technology industry, artificial intelligence, aerospace, biotechnology, photoelectric chips, new energy, new materials and other emerging industries.

　　Looking into the future, China’s economy can at least maintain a moderate growth rate, and China’s position as a major contributor to global economic growth cannot be shaken. Of course, under the background of accelerating population aging, industrialization and urbanization, the characteristics of stock economy will become more and more obvious, and the old routine of stimulating by investment is no longer sustainable. Stock economy can only rely on restructuring, and only by increasing reform and opening up and vigorously developing high technology can we overcome all kinds of difficulties.

　　Guan Qingyou, President of Financial Research Institute: In the future economy, there are still many good cards to play in China’s economy. At present, in the era of stock, differentiation and concentration are the general trend. Head enterprises should be bigger and stronger, and become the leader of sub-sectors; Waist enterprises have to survive, because it is the most difficult to get on or off, and it is easy to get off if they can’t get on; Many foot enterprises will be eliminated and submerged in the torrent of history. Specifically, the head is bigger, the waist is thinner and the feet are more swollen.

　　In this context, companies and investors need to pay attention to hard-core assets for a long time. I sum up the characteristics of hard-core assets as: scarcity, standard and stability.

　　Market forecast: technology stocks are still expected to become market protagonists after the callback.

　　The driving force of economic growth will shift from demographic dividend and capital factors to technological progress and efficiency improvement, and the structural characteristics of the capital market will also be obvious. Traditional industries such as real estate will gradually return, and a number of high-quality listed companies with high profitability are expected to be born in the scientific and technological fields with technical and efficiency advantages. Since the beginning of this year, although the three indexes of A-shares have risen collectively, their structural characteristics are very obvious. Among them, consumer stocks represented by liquor and condiments and technology stocks represented by semiconductors and integrated circuits have performed brilliantly. The real estate, steel, coal and other cyclical sectors are obviously backward.

　　Take real estate as an example. In the first eight months of this year, the cumulative year-on-year decline in the national real estate sales area narrowed again. Many optimists began to be optimistic about real estate stocks. Yang Rongcheng, a researcher at China Merchants Bank, said that the sales data variable in August was due to the pressure of housing enterprises to tighten financing, thus accelerating the push and sales, but "we think that as buyers’ expectations of rising house prices gradually fall, the mood of holding money and waiting to see may spread."

　　Different from traditional industries, consumption and technology sectors have been sought after this year, especially technology stocks. Even if there was a rapid adjustment last week, most stocks doubled their gains during the year.

　　As of the close of September 30, among the 30 A-share 100-yuan stocks, there are 15 technology stocks such as Internet, components, semiconductors, communication equipment and information software, accounting for 50%.

　　Caitong Securities analyst pointed out that "short-term disturbance will not change emerging industries as China’s strategic development direction." High-quality emerging industry stocks will gradually enter the performance release period, with good performance superimposed with policy support, and layout opportunities will still be ushered in after the adjustment of the science and technology sector. According to the data of the straight flush ifind system, as of September 30, 495 A-share listed companies disclosed the performance forecast for the third quarter of 2019, with a pre-happiness ratio of 43.67%. According to the "lower limit of forecast net profit growth year-on-year", the number of high-growth companies in computer, communication, electronics, food and beverage industries is mostly.

　　Therefore, emerging science and technology enterprises with brand, technology and efficiency advantages and leading social progress in the future are expected to stand out.

　　Guangqianyan

　　Driving force 1

　　Profitability of listed companies

　　The profitability of A-share listed companies is improving. In the first half of this year, all A-shares achieved operating income of 23.37 trillion yuan compared with listed companies, up 10.40% year-on-year. The net profit attributable to shareholders of listed companies was 2.13 trillion yuan, a year-on-year increase of 7.56%. Compared with the first quarter of this year, although there was a decline, the ROE of listed companies was 9.36%, which was 0.06 percentage points higher than that in the first quarter. Some experts predict that the implementation of the large-scale tax reduction and fee reduction policy this year will not only bring "real money" to listed companies, but also promote transformation and upgrading and increase the performance of listed companies.

　　Driving force 2

　　Interest rate and market liquidity

　　"Interest rates, liquidity and the stock market, although macro, are closely related. With lower interest rates and sufficient liquidity, the stock market tends to perform well. And vice versa. " A person in charge of Sunshine Private Equity in Shenzhen believes that the impact of interest rate and liquidity on individual stocks is second only to the profitability of listed companies.

　　"The core of the stock price rise is to have funds to buy. The lower interest rate directly reduces the cost of capital and will stimulate or attract OTC funds to enter the market. However, only the decline in interest rates does not necessarily bring about a bull market. If the superimposed fundamentals improve, the probability of a stock market rising is greater. " The person in charge of the above-mentioned sunshine private placement pointed out.

　　Some analysts believe that from the current trend, monetary policy is persistent, and it is expected that the difference between the growth rates of M1 and M2 will rise in 2019, which is a high probability event. Therefore, the market index is also expected to maintain a volatile upward trend.

　　Driving force 3

　　Expectation of opening and reform policy

　　The market’s expectation of reform and opening up has become one of the important factors driving the stock market to rise. It is worth looking forward to whether this year’s intensive opening-up actions can once again enhance market activity.

　　On July 20th, the Office of the State Council Financial Stability and Development Committee announced 11 measures for opening up the financial industry. On September 10th, the State Administration of Foreign Exchange announced its decision to cancel the investment quota restrictions of QFII and RQFII, and at the same time cancel the restrictions of RQFII pilot countries and regions.

　　MSCI, FTSE Russell and S&P International all include A shares. Morgan Stanley announced that the total passive and active inflow of foreign capital into A shares will reach 70 billion to 125 billion US dollars, much higher than the average of 35 billion US dollars in the previous three years.

　　 　Newspaper, Changsha, October 12th (Reporter Yan Aihua, Long Jun)On the 12th, the 8.61m diameter shield main bearing independently developed by Chinese enterprises rolled off the assembly line in Changsha, Hunan Province. It is the integral shield main bearing with the largest diameter, the heaviest monomer and the highest bearing capacity in the world so far. Its successful development marks a major breakthrough in the development of domestic super-large diameter main bearings, and realizes the full coverage of domestic shield main bearings from small and medium diameter to super-large diameter.

　　 　This set of main bearings is independently developed by China Railway Construction Heavy Industry Group, which can be used to drive an 18-meter super-large diameter shield machine. The product weighs 62 tons and can withstand a load of over 10,000 tons. In the raceway plane with a diameter of more than 8 meters, the flatness is less than 20 microns, making it as difficult as carving flowers on rice grains.

　　 　As the "heart" part of the shield machine, the main bearing needs to face the extreme working conditions of the shield machine, such as overload, large eccentric load and frequency varying load. Its service life and reliability are restricted by many key factors, such as materials, design, manufacturing and testing, and the development difficulty is doubled with the increase of size. Previously, the key technology of main bearing of super-large diameter shield was monopolized by foreign enterprises for a long time.

　　 　Liu Feixiang, chief scientist of China Railway Construction Heavy Industry Group, introduced that in order to break through the weak link of the overall autonomy of the shield machine industry chain, Railway Construction Heavy Industry cooperated with upstream and downstream enterprises and universities to tackle key problems, and built the largest and internationally leading shield machine main bearing production line in Changsha Second Industrial Park of Railway Construction Heavy Industry, and successfully developed a full range of main bearings ranging from 3 meters to 7.6 meters; The world’s largest main bearing working condition simulation test-bed has been built, which has solved the worldwide problem that large-scale low-speed and heavy-load main bearings are difficult to test and verify.

　　 　It is understood that the main bearing of shield machine is included in 35 key technologies that restrict China’s industrial development, and it is the last link of the autonomy of the whole industrial chain of shield machine. With the smooth roll-off of the main bearing of the 8.61m domestic super-large diameter shield machine, Chinese enterprises have completely conquered and independently mastered the key core technologies of the whole series of main bearing products of the shield machine from design, materials to manufacturing and testing, thus giving the domestic shield machine a "China heart".

　　Xinhua News Agency, Jeddah, Saudi Arabia, July 17th　(International observation) Biden’s trip to the Middle East yielded few results.

　　Xinhua News Agency reporter Hu Guan

　　With the conclusion of the "Security and Development" Summit held in Jeddah, a coastal city in western Saudi Arabia, on the 16th, Biden’s first trip to the Middle East since he took office as US president ended. In Israel, he was vomited by netizens, protested by the people in Palestine, and questioned by reporters in Saudi Arabia. Biden’s visit ended flatly.

　　Analysts pointed out that before Biden’s visit, he made a high-profile announcement that he would open a "new chapter" in the relationship between the United States and the Middle East, but as a result, he hit a wall one after another and did not achieve much substantive results. Great changes have taken place in the political climate in the Middle East, and the pursuit of peace and development has become the mainstream of the region. There are obvious differences between countries in the Middle East and the United States, which adheres to hegemonic thinking. It is not surprising that Biden’s visit is unpopular and has achieved few results.

　　On April 11, 2022, US President Biden delivered a speech at the White House in Washington. Xinhua News Agency reporter Liu Jie photo

　　There are obvious differences.

　　Biden’s first stop in the Middle East was Israel, America’s staunchest ally in the region. During the visit, Biden signed a joint statement with Israeli Prime Minister Lapid, emphasizing "the unbreakable bond between the two countries" and "the enduring commitment of the United States to Israel’s security". The statement said that the United States will use its "all elements of national power" to ensure that Iran cannot acquire nuclear weapons, and promised to cooperate with other partners to deal with Iran’s "aggression and destabilizing activities." But Israel does not "buy" this. According to the Israeli Jerusalem Post, Lapid asked for a deadline for Iranian negotiations to return to the Iranian nuclear deal, but Biden refused.

　　Ephraim Inbar, director of the Jerusalem Institute for Strategic and Security Studies, said that the joint statement lacked substance. "The crux of the matter is what the United States will do on the Iran issue, which is what Israel is most concerned about. Although in public statements, the United States and Israel are doing their best to show that there are no differences, but the differences between the two sides are obvious. "

　　In the West Bank of Palestine, Palestinian President Abbas met with visiting Biden, but Pakistan and the United States did not issue a joint statement. Majidi halliday, adviser to the Palestinian President, revealed that the two sides were still talking about the joint statement a few hours before the meeting between Abbas and Biden, but they finally gave up because of too many differences.

　　Ali Jabawi, a professor at Birzai University in Palestine, believes that the Palestinian-Israeli issue is not the priority of Biden’s visit, and Biden’s visit to Palestine is more like completing a "political task." Mustafa Ibrahim, a Palestinian political analyst, said that Biden’s visit was aimed at building momentum for the mid-term elections in November, and he would not put forward any new ideas on solving the Palestinian-Israeli issue at all.

　　Analysts pointed out that the United States regards the Iranian nuclear issue and the Palestinian-Israeli issue as "chess pieces" and "chips" to realize its own self-interest in maintaining hegemony, stirring up the regional situation and serving domestic politics, and it is natural to expect differences with Israeli-Palestinian leaders.

　　This is the price tag of a gas station photographed in Millbray, California, USA on May 17th. Xinhua News Agency (photo by Li Jianguo)

　　unpopularity

　　It is the focus of Biden’s trip to seek oil and plan a "small circle" in the Middle East by visiting Saudi Arabia and attending the "security and development" summit in Jeddah, Saudi Arabia. According to outside analysis, Biden administration hopes that Saudi Arabia and other Gulf oil-producing countries will increase production to lower international oil prices, ease domestic inflationary pressure in the United States and help the mid-term elections. In addition, the intention of the United States to build a "Middle East version of NATO" and contain countries such as Iran and Russia is also obvious.

　　However, in his speech at the Jeddah Summit, Saudi Crown Prince Mohammed was vague about increasing oil production, saying that Saudi Arabia "has the ability" to increase oil production to an average of 13 million barrels per day, but for the time being, it has no additional ability to continue to increase crude oil production. As for Biden’s intention to win over the Middle East countries against Iran, Russia and other countries, the leaders attending the summit did not respond clearly.

　　Ma Xiaolin, president of zhejiang international studies university Institute of Mediterranean Rim, pointed out that Biden’s government has been in office for nearly a year and a half, and his visit to the Middle East is late, with time and space behind Europe and Asia-Pacific. No one believes that he attaches importance to the Middle East. Coupled with the decline in the relative strength of the United States, the investment in the Middle East has decreased, and after repeatedly creating troubles in the Middle East, it has completely withdrawn, which has greatly reduced the trust of the Middle East countries in the United States.

　　Wang Guangyuan, an associate professor at Middle East College in beijing language and culture university, believes that for many years, in order to maximize the political, economic and security interests in the Middle East, the United States has deliberately created confrontation, stirred up the regional situation, and even subverted the political power of the countries in the Middle East by using various means such as military strikes, human rights diplomacy and the so-called "color revolution", which has caused the countries in the region to fall into a security dilemma and caused serious harm to the region. Nowadays, the pursuit of peaceful development has become the mainstream of the region, the credibility of the United States in the Middle East is going bankrupt, the strategic mutual trust between regional countries and the United States is decreasing, and Saudi Arabia and other countries in the Middle East are increasingly aware of their strategic autonomy and are unwilling to serve the interests of the United States at the expense of their own development.

　　Saudi media reported that during Biden’s meeting with Saudi Crown Prince Muhammad, Muhammad warned Biden that every country has its own values, and the act of imposing its own values on other countries will only be counterproductive. The failure of the United States to promote American values in Iraq and Afghanistan is proof. "Saudi Arabia does not welcome American value diplomacy." (Participating in reporters: Wang Zhuolun, Liu Weijian, Wang Haizhou)