
The policy is good again and again! Real estate rose for three consecutive days, leading the industry sector today.

Wen | Yang Weige
Special feature of 1905 film network Speed, bravery and fierceness … … This is a contest between strength and wisdom! It is the favorite of the brave! Fireworks grabbing is a sport for the brave, and it is known as "Eastern Rugby". It is popular among Zhuang and other ethnic minorities, and it is a traditional folk sports activity with strong national characteristics. It has a history of more than 500 years.
Every year, on the third day of the third lunar month, the Zhuang compatriots will hold a "fireworks grab" on this day.
Those who grab the fireworks indicate that the next year will be rich, prosperous and prosperous, and winning the first fireworks is a symbol of a beautiful year, representing the glory and blessing of the new year.At 20: 15 pm on April 28th, the minority sports film produced by the film channel., will be the story of Zhuang youth in Yunling Town, northern Guangdong Province, participating in the city’s minority games.Xu ZhanOpen.
The life of Zhuang people in remote mountainous areas exudes a strong local flavor, which we are not familiar with at ordinary times. This film can let more audiences know about the national sport of "Fireworks Grab" and feel the new atmosphere of beautiful countryside from a small perspective.
In order to renew the store for his girlfriend, earn money to buy a house and get married, the land flying (decoration) volunteered with the simplest utilitarian motive and teamed up to represent the town in the fireworks competition.He gathered a group of idle and confused Zhuang youths together, raised the team flag in the training ground and built the Yunling Flying Leopard Team.
On the land, I flew to find some young Zhuang people with special talents, such as Iron Head Kung Ah Quan, Scud Monkey, Hercules Down Brothers, Invincible Straw Pack Four Seas, Singer Shisanlang and Orchid Finger Long Hair.These young people have their own characteristics, but they all have their own difficulties. They are not perfect and even have many shortcomings, and the fireworks competition has rekindled their hopes.
"Yunling teenagers have high ambitions, and Qi Xin works together to win fireworks."In order to prove their value, this group of "teenagers" shed sweat and enthusiasm on the training ground. In the arena, they violently robbed, hid or threw, and the atmosphere was tense, warm and exciting.
During the training and competition of fireworks, the lives of these young people have changed dramatically.Sports competition inspired their high morale and courage to work hard. They bid farewell to their past selves, and the original Yunling Flying Leopard team became a brave champion.
With the collective efforts, they gained friendship, self-esteem, love and dreams, and completed their self-growth.Sharpen a sword every ten years. The film has gone through 12 years from planning and preparation to release, and the creative team has put a lot of effort into it.
The director of the film said: "We strive to make" Fireworks Grab "a masterpiece with ideological, artistic and commercial features."
In order to make this film well, the director is very strict in the choice of actors.In order to select the fireworks team actors with good physical quality, he requires professional actors who have played the habit and physical strength of the whole basketball game or half-court football game every week to be eligible to run for the role.
Before shooting, the director dragged all the actors to the shooting location to live and train with the local real fireworks players. After more than half a month’s study, almost all the actors were exposed to the sun. During the training, these actors gradually became real fireworks players.
In the process of shooting, all the actions of training and competition must be completed by the actors themselves. Because of the fierceness of sports competition, actors are constantly injured to varying degrees, but no one has backed out because of this, but the more they fight, the braver they become.
As we all know, sports plays are not easy to shoot, and it is even more difficult to shoot well, which is especially difficult for small-budget films.
In order to enhance the visibility of the film, the director used some skills of China Wushu for reference, designed many difficult movements with acrobatic performances, and incorporated them into the fireworks competition, which showed us the new expansion and new realm of sports-themed films.
As an intangible cultural heritage, the fireworks grab is a folk cultural symbol and a carrier of national memory inheritance.
The film "Fireworks Grab" not only presents the traditional custom and sports of Fireworks Grab to the audience more vividly and truly, but also promotes the inheritance and promotion of China’s national tradition and folk sports culture through the film.This era needs this kind of good film full of positive energy and giving people spiritual baptism.
For example, Tang Ke, director of the film channel creation department, said: "The biggest feature of this film is that it has achieved a mix of genres, and it is a film with real low cost, positive energy and great feelings."
Therefore, this film, which was filmed in Lianshan, Qingyuan, Guangdong Province, integrates love, sports, intangible cultural heritage, ethnic minorities and positive energy, and pays attention to the life and destiny of ordinary Zhuang people in remote mountainous areas. From the shooting to the completion of production, it has received attention and appreciation from all walks of life.
Tan Zheng, editor-in-chief of Film Art, said: "This film has fully recorded and presented the folk custom of’ fireworks grabbing’ with vivid and rich images, which is a powerful fulcrum for the development and inheritance of folk culture. In addition, it is also related to the development and protection of minority cultures, which can attract everyone’s attention and attention. "
It is reported that the creative team has donated the film copy to China Film Archive for permanent preservation, so that more people can learn about China folk sports and protect and inherit the intangible culture.
"Flying leopards in Yunling, who dare to grab fireworks, are all heroes.""Fireworks" inherits not only the sport of fireworks, but also the spirit of endless and tenacious struggle!
At 20:15 on April 28th, the movie "Grab the Fireworks" produced by the movie channel will meet with you for the first time. Let us appreciate the cultural value and spiritual charm of folk sports together!
Why do delegations with few people prefer alpine skiing? Is the threshold of this project low?
Haiti, Philippines, Ghana, Ecuador … … At the opening ceremony of the Beijing Winter Olympics on the evening of the 4th, people found that some countries or regions with hot impressions also sent delegations to participate. Most of these delegations have only one or two athletes, and almost all of them participate in alpine skiing. Some netizens laughed and said: Alpine skiing is the biggest "winner" of the opening ceremony.
On the evening of February 4th, the opening ceremony of the 24th Winter Olympic Games was held in Beijing National Stadium. Sarah Escobar (middle), the flag bearer of the Ecuadorian delegation and alpine skier, is the first female athlete in the history of Ecuador. Xinhua News Agency reporter Huang Zongzhi photo
The question is: Why do delegations with few people prefer alpine skiing? Does this project that sounds very imposing have a low threshold?
Snow sports with the largest number of registered people in Winter Olympics.
If we give an imprecise definition, alpine skiing is faster than the one who slides down the mountain. Without somersaults and obstacles, we just need to turn, and whoever gets to the end of the mountain first wins.
Kang Hua, the international referee of the International Skiing and Mountaineering Federation, said that skiing started as a mode of travel in snowy areas such as Northern Europe, China and Xinjiang, which was highly practical but hardly entertaining. At the end of the 19th century and the beginning of the 20th century, the center of skiing shifted from Northern Europe to the Alps, and modern alpine skiing technology was developed in the cross-country skiing prevailing in Northern Europe. Later, all the patterns and variants of snowboarding can be said to be branches of alpine skiing. The snowboarding that beginners learn in the snow field is also the basic skill of alpine skiing.
Therefore, in skiing, this project and cross-country skiing are well-deserved basic projects, but they are more interesting than cross-country skiing, and the mass base is easier to develop and consolidate.
In this Winter Olympics, there are 307 athletes registered successfully in alpine skiing, which is the largest number in snow sports and second only to ice hockey in 15 disciplines. Athletes cover more than 80 countries and regions.
On February 3rd, the first training of men’s downhill skiing in Beijing Winter Olympics was held at Yanqing National Alpine Ski Center in Beijing. The picture shows Italian player matteo Marsaglia in training. Xinhua News Agency reporter Chen Yizhen photo
This is largely due to the IOC’s intention to improve the participation and coverage of winter sports through this project, and its quota allocation rules are relatively loose. All delegations have two basic places, one man and one woman. As long as someone meets the requirements for Olympic points, delegations can get these two places. After the allocation of basic places, the rest will be produced from the world’s high-level athletes according to a series of rules.
Speed events are still high threshold.
Then the question comes again: If I come from a tropical country, the Winter Olympics is coming, I urgently find a ski resort to train hard, get points for participating in the global competition, and finally get the basic quota allocated by the International Olympic Committee, then can I participate in all the events?
Can’t. There is a high probability that you are only qualified for slalom and giant slalom. Gliding and super slalom are almost impossible.
In this Winter Olympics, there are 10 events for individual alpine skiing. Men and women are divided into downhill, super giant slalom, giant slalom, slalom and all-around. The all-around ratio is still downhill and slewing, so the four events, such as downhill, are the basis of the alpine skiing Winter Olympics.
Among them, downhill and super slalom are called "speed events", and slalom and slewing are called "technical events". The International Snow Federation has higher requirements for the venue of speed events, with long track and large drop. In the men’s downhill, which can be called the "Flying Man Wars" in the snow, the track gap should reach at least 800 meters and the length should be at least three kilometers. The top speed of athletes can even reach more than 140 kilometers per hour.
This leads to: first, it is difficult to find such a standard snow trail. The speed track of the National Alpine Ski Center in Yanqing Division is the first track in China that meets the standards of the Winter Olympics. In some areas where mountain resources are not abundant, even if it is cold enough, if the mountain is not high enough and the mountain is not big enough, there is no way. Second, people who are engaged in the project are difficult and dangerous, and have no training conditions, and they can’t meet the winter Olympic competition standards for speed projects in a short time.
On February 1st, the National Alpine Ski Center in Yanqing District of Beijing Winter Olympics held an all-factor drill. The picture shows a skater trying to skate on the track. Xinhua News Agency reporter Lian Zhenshe
"The International Snow Federation requires higher points for the speed events of the Winter Olympics than the technical events, just for safety." Didier Defogo, the designer of the men’s downhill track in this Winter Olympics and the champion of men’s downhill in 2010 Winter Olympics, said. Jamaican alpine skier Benjamin Alexander also said: "Even if there is an indoor ski resort, it is impossible to build a ski trail that can support downhill training."
In this Winter Olympics, there is only one athlete, and 15 delegations of this athlete participated in alpine skiing events. Without exception, they all participated in slalom and giant slalom. In addition, the experience of British player Dave Reading seems to prove that the flexibility of training in technical projects can be higher. He has been training in the indoor snow field, but at the age of 35, he still won his first men’s slalom World Cup sub-championship, and he is a strong contender for the medal in this Winter Olympics.
Xinhua News Agency, Beijing, January 10 (Reporter Huang Yao) In 2024, China will further enhance its ability to monitor and warn severe weather and do its best to prevent and reduce meteorological disasters.
This is what the reporter learned at the 2024 National Meteorological Work Conference, which opened on the 10th. Chen Zhenlin, director of the China Meteorological Bureau, introduced at the meeting that in 2023, the 24-hour average path prediction error of typhoons in China was 62 kilometers, the best in history; The accuracy of 24-hour rainstorm forecast has reached a new high; The warning signal of severe convective weather was released 43 minutes in advance.
Under the background of climate warming, extreme weather and climate events occur frequently and violently. Chen Zhenlin said that meteorological departments should strengthen meteorological disaster risk prediction and response, pay close attention to monitoring, forecasting and early warning services, further improve the linkage mechanism of disaster prevention and mitigation led by meteorological early warning, and build the first line of defense for meteorological disaster prevention and mitigation.
According to reports, in 2024, the meteorological department will further enhance the monitoring and early warning capability of severe weather by strengthening the monitoring and early warning of short-term approaching weather, doing a good job in point-to-point accurate forecasting and rolling update, strengthening the construction of national and provincial short-term monitoring and early warning platforms, and promoting the adjustment of rainstorm early warning signals.
At the same time, the meteorological department will also improve the emergency response and linkage mechanism for disaster prevention and mitigation, including promoting the full integration of meteorological services into the local comprehensive disaster prevention and mitigation command and dispatch work system, improving the "calling" mechanism and process of high-level meteorological disaster early warning, fully implementing the progressive meteorological service mechanism, encouraging chief forecasters to interpret weather trends and disaster impacts online, and enhancing the prevention capability of meteorological disasters in the whole society.
BEIJING, Beijing, Oct. 10 (Xinhua)-The 9th is the first working day at the end of the Eleventh Golden Week. Beijing, Tianjin, Hebei and other places have experienced heavy rainfall, and Qinghai, Inner Mongolia and other places even ushered in the first snowfall this autumn. The cooling wind made it difficult for many office workers returning to work to adapt for a while, shouting "I want to wear long pants".
According to the latest weather forecast, the temperature in Northeast China, North China, Shaanxi, Sichuan, Chongqing and other places will drop by 6-10℃ today and tomorrow, and the local temperature drop can reach 12℃. There is strong precipitation in the southeast of northwest China and North China, and moderate to heavy snow in parts of Ningxia and Gansu.
On October 9, the temperature dropped sharply in many places in Inner Mongolia. On the streets of Hohhot, pedestrians riding electric cars put on "cotton-padded clothes" to travel. China News Service reporter Liu Wenhua photo
Just entering October, I "want to wear long pants"
— —Rainfall in many places in the north has cooled down, and the local temperature drop has exceeded 10℃
In October, after enjoying the Golden Week holiday, office workers need to overcome not only the "holiday syndrome", but also the windy and cool weather. With the arrival of cold air, there has been a sharp cooling in many places in the north in recent days. On social platforms, many netizens shouted "to wear long pants" in their circle of friends.
According to the report of the Central Meteorological Observatory on the evening of the 9th, due to the influence of cold air, at 14: 00 on the 9th, compared with 14: 00 on the previous day, the central and eastern Jilin, Liaoning, central Inner Mongolia, northern Hebei, western Shanxi, central and northern Shaanxi, Ningxia, central and southern Gansu and other places experienced a temperature drop of 6-8 C, and the local temperature drop reached 10-12 C.
In addition, heavy rainfall, fog and other weather in many places have also added traffic pressure to the first working day after the Golden Week. Among them, Weibo Meteorological Beijing, the official of Beijing Meteorological Bureau, reported that the average precipitation in Beijing reached 29.8 mm from 4: 00 to 16: 00 on the 9th.
According to media reports, on the morning of the 9 th, the rainy and foggy weather in Beijing continued, and several high-speed sections of Jingha, Beijing-Tianjin and Jingping were closed; Rain and fog also affected flights at the Capital Airport. As of 11: 00 on the 9th, more than 100 inbound and outbound flights were delayed and more than 50 flights were cancelled.
Cold air comes with snow
— — Many places welcomed the first snowfall in the second half of the year, and the temperature hit a new low in the second half of the year.
In addition to strong winds and rainfall, snowfall occurred in some places in the north. According to a report from the Central Meteorological Observatory on the evening of the 9th, 1-7mm snowfall or sleet occurred in central Gansu, eastern Qinghai and central Inner Mongolia during the daytime on the 9th.
According to media reports, due to the influence of cold air, Xining, Qinghai Province ushered in the first snowfall since autumn on the 9th. The daily minimum temperature dropped to 0.9℃, and the temperature hit a new low since the second half of this year. The meteorological department of Qinghai Province issued several yellow warnings for cold waves.
The staff of Qinghai Meteorological Bureau told the media that the first snow in Xining this year was 20 days earlier than last year, and the low temperature weather will continue. It is understood that at present, Xining has not yet entered the heating season, but due to the obvious drop in temperature, citizens have put on winter cotton clothes and masks.
Some areas in Inner Mongolia also ushered in the first working day after a long holiday in the wet and cold. According to media reports, the first snowfall occurred in many places in Inner Mongolia since the second half of the year, with obvious snowfall in Alxa League, Bayannaoer, Baotou, Wulanchabu and Hulunbeier. The snowfall time in central and western Inner Mongolia was the earliest in recent 10 years, and the maximum snow depth in Hulunbeier boketu has reached 13 cm.
Zhang Fanghua, chief forecaster of the Central Meteorological Observatory, said that the cold air process affected a wide range and lasted for a long time, with a large cooling range, long precipitation duration and large accumulated precipitation in the northern region.
Zhang Fanghua suggested that the cold air process not only brought about obvious cooling, but also accompanied by a wide range of precipitation weather, and the body temperature will be very low, and the temperature in most areas in the next 10 days will be lower than that in the same period of the year. At present, most areas have not been centrally heated, and the public needs to take cold-proof and warm-keeping measures.
National gale cooling forecast map (from 20: 00 on October 9 to 20: 00 on October 11). Image source: Central Meteorological Observatory official website
Cold air will continue to go south.
— — The cumulative cooling range in Wuhan and Chongqing can reach 15℃
As the saying goes, an autumn rain is cold, and ten autumn rains put on cotton. In the next few days, the cooling weather will continue.
According to the official website news of the Central Meteorological Observatory, it is estimated that there will be a temperature drop of 6-10℃ in the central and eastern parts of Northeast China, most of North China, southwestern Shaanxi, northeastern Sichuan, Chongqing, Huanghuai, Jianghan, Jianghuai and northern Jiangnan from 20: 00 on the 9th to 20: 00 on the 11th, and the local temperature drop can reach 12℃. There are 4-6 winds in most of these areas.
For example, under the influence of rain and cold air, the temperature in Beijing will continue to drop. According to media reports, the highest temperature in Beijing during the day on the 10th was only 11℃, and the lowest temperature in the morning on the 11th will drop to 7℃, both of which will hit new lows since the second half of this year.
In addition, the cold air continues to go south. According to media reports, Hubei will usher in a "roller coaster" decline in temperature from the 10th, and the highest temperature in northwest Hubei will be the first to drop to 18-21 C; On the 11th, the temperature will drop further, and the highest temperature in Wuhan will drop to 16℃, and the cumulative cooling rate can reach 15℃.
According to local media reports in Chongqing, a cooling and rainy weather process began in Chongqing on the evening of the 9 th, which lasted until the 12 th, and the daily average temperature will drop by 6-9 C. From the perspective of the whole city, the highest temperature will drop from 33℃ to 18℃, and the cooling rate will be as high as 15℃.
In addition, it is expected that there will be heavy rain and local heavy rain in parts of Sichuan, Shaanxi, North China, Liaoning and Jilin from 20: 00 on the 9 th to 20: 00 on the 10 th; In Inner Mongolia, Hebei, Shaanxi, Ningxia, Gansu, Qinghai and other places, rain will turn to sleet or snowfall. Among them, there are moderate to heavy snow in parts of southern Ningxia and central Gansu, and there are heavy snow in mountainous areas.
It is understood that on October 12, the cold air force will weaken and the cooling will end. At that time, only Jiangnan and northern South China will have a temperature drop of 2 C to 4 C.
With the end of the cold wave weather
this morning
Northeast of Northwest China, Inner Mongolia
North China, Huanghuai and other places
The temperature has obviously risen.
The local temperature rise range is 8-12℃
Starting tomorrow
There will be cold air affecting our country again
Estimated 26th to 28th.
Cold air affects the middle and lower reaches of the Yangtze River and most of its northern areas.
The temperature in most areas will drop by 4 to 6℃
Central Inner Mongolia and parts of the eastern part of Northeast China
Up to 8 to 12℃
Southeastern Inner Mongolia, eastern Heilongjiang, central and eastern Jilin
There is moderate to heavy snow in parts of eastern Liaoning and other places.
In addition, attention should be paid to the influence of strong winds.
The Central Meteorological Observatory continued to release this morning.
Gale blue warning
It is expected that today
Central Inner Mongolia, northern Xinjiang and western Gansu
There will be 5 to 6 grades in central and eastern Qinghai.
A gale of magnitude 7.
The southwestern part of the East China Sea, the Taiwan Province Strait, and the east of Taiwan Province.
Bashi channel, northern and central South China Sea.
There will be 7 to 8 grades in the southwestern part of the South China Sea.
A gust of 9 winds.
Meteorologists reminded
Next ten days
The cold air that affects our country is frequent.
Around 30 days
There will also be cold air affecting central and eastern China from north to south.
Need to pay attention to temperature changes in time
Add clothes in time
Beware of high incidence of diseases in different seasons
meanwhile
Be alert to the adverse effects of windy weather on traffic travel.
Stay away from temporary structures, billboards, etc.
Pay attention to travel safety
(Central Meteorological Observatory)
On the afternoon of July 26th, the central bank and relevant departments drafted the Trial Measures for the Supervision and Management of Financial Holding Companies (Draft for Comment) (hereinafter referred to as the Measures). A few days ago, it officially solicited opinions from the public.
The central bank publicly solicited opinions on the pilot measures for supervision and management of financial holding companies.
In order to promote the standardized development of financial holding companies, effectively prevent and control financial risks, and better serve the real economy, the People’s Bank of China, together with relevant departments, drafted the Trial Measures for the Supervision and Management of Financial Holding Companies (Draft for Comment) (hereinafter referred to as the Measures). A few days ago, it officially solicited opinions from the public.
According to the central bank, financial holding companies invested by non-financial enterprises blindly expand into the financial industry and regard financial institutions as "cash machines". There is a regulatory vacuum and risks are constantly accumulating and exposed. In order to rectify and restrain the risks of financial holding groups that have actually formed in an orderly manner, and at the same time effectively regulate the increment and prevent the cross-industry and cross-market transmission of financial risks, the Measures, in accordance with the decision-making arrangements of the CPC Central Committee and the State Council, fill in the shortcomings of the supervision system, follow the concept of macro-prudential management, and conduct comprehensive, sustained and penetrating supervision on the capital, behavior and risks of financial holding companies on the basis of consolidated supervision.
There are 7 chapters and 56 articles in the exposure draft, the main contents of which include:
The first is to clarify the scope of supervision.That is, financial holding companies that meet certain conditions and whose actual controllers are domestic non-financial enterprises and natural persons shall be supervised by the People’s Bank of China.
For integrated financial groups formed by financial institutions investing in other types of financial institutions across industries, the relevant financial supervision departments shall implement supervision according to the Measures and be responsible for formulating specific implementation rules.
The second is to take market access as the first threshold for risk prevention and control., clear the qualifications of directors, supervisors and senior management personnel, and implement continuous supervision of financial holding companies during and after the event. The administrative licensing matters involved will be decided by the State Council according to law.
Third, strict shareholder qualification supervision., through the positive list and negative list, stipulate the conditions and prohibited acts of becoming a shareholder of a financial holding company. The major shareholder, controlling shareholder or actual controller of a financial holding company shall have prominent core business, standardized corporate governance, clear ownership structure and good financial status.
The fourth is to strengthen the supervision of the authenticity of capital sources and the compliance of capital utilization.. The source of funds shall be true and reliable, and non-owned funds such as entrusted funds shall not be used to invest in financial holding companies. A financial holding company shall not inject capital falsely or circularly into financial institutions.
Fifth, strengthen corporate governance and related party transaction supervision.. A financial holding company should have a concise, clear and penetrating shareholding structure, participate in the corporate governance of the financial institutions it controls according to law, and must not abuse its substantive control rights. Shall not conceal related party transactions and the true whereabouts of funds.
Sixth, improve the risk "firewall" system. Financial holding companies should establish a unified comprehensive risk management system to reasonably isolate internal cross-employment and information sharing.
Seventh, set a reasonable transition period.. Allow existing enterprise groups that do not meet the requirements of the Measures to carry out rectification within a certain period of time to promote a smooth transition.
After the public consultation, the People’s Bank of China will further revise and improve the Measures in conjunction with relevant departments according to feedback from all walks of life.
Here come the 20 main points.
From the central bank’s answer to reporters’ questions and the full text of the draft for comments, the following 20 points can be sorted out.
1. Why is this method formulated?
Financial holding companies invested by non-financial enterprises blindly expand into the financial industry, and there is a regulatory vacuum, and risks are constantly accumulating and exposed.
The main manifestations are as follows: First, the risk isolation mechanism is missing, and financial risks and industrial risks are cross-transmitted.
Second, some enterprises have complex control or benefit relationships and strong hidden risks.
Third, there is a lack of overall capital constraints, and some groups as a whole lack real capital that can resist risks.
Fourth, some enterprises improperly interfere in the operation of financial institutions, and use related party transactions to conceal their interests and harm the rights and interests of financial institutions and investors.
2. Penetrating supervision
In view of the complex structure of financial holding companies, it emphasizes the thorough supervision of equity and funds, accurately identifies the actual controller and the ultimate beneficiary, and prevents the real control relationship from being hidden.
Through the verification of the authenticity of the sources of funds, including the sources of funds for investment in financial holding companies and the sources of funds for investment in financial institutions, to prevent false capital injection and circulating capital injection.
3. The central bank implements supervision.
The People’s Bank of China shall supervise the financial holding companies that meet the conditions for the establishment of the Measures, and the financial supervision department shall supervise the financial institutions controlled by the financial holding companies.
Financial supervision departments supervise financial groups formed by cross-industry investment and holding of financial institutions. When the risk occurs, according to the principle of "who supervises, who is responsible", the corresponding regulatory body will take the lead in risk disposal. Strengthen supervision cooperation and information sharing among various departments to jointly guard against the risks of financial holding groups and financial groups.
4. What are the financial holding companies?
A financial holding company is defined as a limited liability company or a joint stock limited company that is established according to law, has substantial control over two or more different types of financial institutions, and only conducts equity investment management and does not directly engage in commercial business activities.
The Measures apply to financial holding companies whose actual controllers are domestic non-financial enterprises and natural persons. For financial groups formed by cross-industry investment and holding of financial institutions, the financial supervision department shall implement supervision according to the Measures and formulate specific implementation rules.
5. Financial institutions include the following six types:
Commercial banks (excluding village banks), financial leasing companies, trust companies, financial asset management companies, securities companies, fund management companies, futures companies, life insurance companies, property insurance companies, reinsurance companies, insurance asset management companies, and other financial institutions recognized by the financial management department.
6, to apply to the central bank in advance to set up a financial holding company.
Non-financial enterprises and natural persons who meet the conditions stipulated in Article 6 of the Measures shall apply to the People’s Bank of China for the establishment of a financial holding company or for the parent company of the group as a financial holding company. Among them, those who have met the requirements of Article 6 before the implementation of the Measures shall apply to the People’s Bank of China within 6 months from the date of implementation of the Measures. After the implementation of the Measures, if it intends to substantially control two or more different types of financial institutions, and it has the circumstances stipulated in Article 6 of the Measures, it shall also apply to the People’s Bank of China. Relevant implementation rules will be formulated separately.
7. These cases are not registered.
If an institution that meets the requirements for the establishment of a financial holding company fails to apply to the People’s Bank of China in accordance with the Measures, or the People’s Bank of China may, in conjunction with the relevant financial regulatory authorities, order it to make corrections. If it fails to make corrections within the time limit, it shall be ordered to transfer the equity of the financial institution it holds. Without the approval of the People’s Bank of China, a financial holding company shall not be registered as a financial holding company, and the words "financial holding", "financial control" and "financial group" shall not be used in its name.
8. What are the business scopes of financial holding companies?
The main business of a financial holding company is equity management of the financial institutions it invests in. In addition, in order to urge financial holding companies to strengthen the overall liquidity management and risk management and control of the group, so that they can provide liquidity support to the financial institutions they hold, or play a self-help role to the financial institutions they hold in case of risks, the Measures allow financial holding companies to carry out other financial businesses except equity management on the premise of obtaining approval from the People’s Bank of China.
9. Strictly isolate the financial sector from the industrial sector.Block, a financial holding company shall not engage in non-financial business.
From the perspective of based on the main business and risk prevention, financial holding companies are enterprises specializing in equity investment and management of financial institutions, and are not allowed to engage in non-financial business, so as to strictly isolate the financial sector from the industrial sector and effectively prevent cross-infection of risks.
Under the premise of strictly isolating risks, financial holding companies established by enterprise groups are allowed to invest in institutions related to financial business identified by financial management departments, but the book value of total investment shall not exceed 15% of the net assets of financial holding companies in principle.
For existing enterprises that do not meet the requirements, they are allowed to gradually adjust the proportion of investment in non-financial enterprises during the transition period. If the enterprise group as a whole is recognized as a financial holding group, its non-financial total assets shall not be higher than 15% of the total assets of the group.
10, positive list and negative list, clear financial holding company shareholders’ conditions.
Some enterprises are not strong in strength, impure in investment motives, weak in risk management and control ability and compliance management concept. They set up or become shareholders in financial holding companies only to obtain more financial licenses, or even use financial holding companies to carry out improper related party transactions and extract funds from financial institutions, which brings greater risks to financial institutions and financial holding companies.
The Measures clarify the conditions for becoming a shareholder of a financial holding company through a positive list and a negative list.
From the positive list, the major shareholders, controlling shareholders or actual controllers of financial holding companies should highlight their core business, have pure investment motives, formulate reasonable financial investment business plans, not blindly expand into the financial industry, and have perfect corporate governance structure, clear ownership structure and organizational structure, transparent shareholder and beneficial owner structure, strong management ability, effective risk management and internal control mechanism, and good financial status.
From the negative list, it is clear that the controlling shareholder of a financial holding company is prohibited from engaging in acts, and that it is not allowed to become a major shareholder, controlling shareholder or actual controller of a financial holding company. For example, it has made false investments and injected capital into financial institutions in a circulating way, and it has been responsible for the failure or major violations of financial holding companies or financial institutions.
11, strengthen the supervision of financial holding companies’ sources of funds.
Some enterprises, through controlling financial institutions at different levels and cross-holding financial institutions, contributed with debt funds, which pushed up the overall leverage ratio and manipulated shell companies to make false capital injection and circulating capital injection, resulting in the whole group not having much real capital to resist risks.
To this end, the supervision of financial holding companies’ sources of funds emphasizes authenticity:
First, the source of funds is true and reliable. Shareholders of a financial holding company shall invest in the financial holding company with legally owned funds, and shall not invest in the financial holding company with non-owned funds such as entrusted funds, debt funds and investment funds, and shall not entrust others or accept others’ entrustment to hold the equity of the financial holding company.
Second, a financial holding company shall invest in holding financial institutions with its own legal funds, and shall not make false capital injection or circulating capital injection into financial institutions, and shall not withdraw funds from financial institutions.
The third is to carry out penetrating management on the capital compliance of financial holding companies, check the source of funds of investment holding financial holding companies upwards, and check the source of funds of investment holding financial institutions downwards.
The fourth is to establish a capital adequacy supervision system.
12. Concise, clear and penetrating ownership structure
Some enterprise groups have complex ownership structure, cross-shareholding, multi-level shareholding, insufficient information disclosure, unclear beneficial owners, and nested groups within the group.
The Measures stipulate that a financial holding company should have a concise, clear and penetrable shareholding structure, which can be identified by the actual controller and the ultimate beneficiary, and the legal person level is reasonable, which is suitable for its own capital scale, operation and management ability and risk management and control level. The financial institution it controls shall not hold shares in reverse or cross-shareholding.
13, the ownership structure does not meet the need for timely rectification.
An enterprise group that should apply for the establishment of a financial holding company from the date of implementation of the Measures, but its shareholding structure does not meet the requirements, shall formulate a plan for the rectification of its shareholding, and after being approved by the financial management department, reduce the complexity of its organizational structure and simplify the legal person level during the transition period. In the process of equity transfer, if the assets involved in equity integration, transfer and transfer within an enterprise group are in compliance with the provisions of tax policies, they can enjoy corresponding preferential tax policies; Where the approval of shareholder qualification is involved, the financial management department shall apply the shareholder qualification conditions suitable for the financial holding company.
14, shall not exceed level 3.
After the implementation of the Measures, the newly-added financial holding companies, shareholders of financial holding companies, financial holding companies and financial institutions controlled by them shall not exceed level 3 in principle.
15. A financial holding company shall not abuse its substantive control rights.
A financial holding company shall not abuse its substantive control right, interfere with the independent operation of its controlled institutions, and damage the legitimate rights and interests of its controlled institutions and their related stakeholders.
16. Strengthen related party transaction management.
Strengthening the management of related party transactions is an important measure of strict risk isolation. In practice, some enterprises use the hidden ownership structure to transfer benefits through improper related party transactions, and regard financial institutions as "cash machines", which seriously damages the legitimate rights and interests of financial institutions and investors.
17. Establish a negative list of prohibited related party transactions.
First, financial holding companies should strengthen the management of related party transactions, and their intra-group transactions with controlled financial institutions, between controlled financial institutions and between controlled financial institutions and other institutions in the group, as well as related party transactions with other related parties, should be in compliance with the law.
Second, a financial holding company and its financial institutions and other related parties shall not conceal related party transactions and the true whereabouts of funds, and shall not transfer interests, evade supervision or regulatory arbitrage, damage the legitimate rights and interests of others, or damage the stability of the financial holding company through related party transactions.
Third, except for financial companies, financial institutions controlled by financial holding companies are prohibited from providing financing to financial holding companies or providing unsecured financing to other related parties. The financing or guarantee provided to related parties shall not exceed 10% of the registered capital of the financial institution or 20% of the registered capital of the related party. Financial institutions and non-financial institutions controlled by financial holding companies are prohibited from accepting the equity of financial holding companies as pledge targets, and the guarantee balance of financial holding companies outside financial holding groups shall not exceed 10% of the net assets of financial holding companies.
18. The central bank has these regulatory means and measures.
First, establish a unified supervision information platform for financial holding companies, and require financial holding companies to report and disclose information according to regulations.
The second is to establish and improve the risk assessment system of financial holding groups, and comprehensively use macro-prudential policies, financial institution ratings and other policy tools to assess the management and risk status of financial holding groups.
Third, according to the needs of performing their duties, conduct supervision talks with relevant responsible persons, conduct on-site inspections of financial holding companies, and conduct on-site inspections of financial institutions controlled by financial holding companies with the approval of the State Council when necessary, on the basis of supervision and cooperation.
Fourth, the financial holding company is required to formulate the overall recovery and disposal plan of the financial holding group.
Fifth, when a financial holding company violates the Measures or has a major risk, it will take regulatory measures such as restricting its business activities, restricting dividends or related rights, ordering it to replenish capital within a time limit, and ordering it to transfer its equity, and give it warnings, fines and other penalties.
Sixth, if it is difficult for financial holding companies to operate continuously, which will seriously endanger the financial order and harm the public interest, they should withdraw from the market according to law. Relevant implementation rules shall be formulated separately by the People’s Bank of China in conjunction with relevant departments.
19. Transition period
If an enterprise group that existed before the implementation of the Measures and meets the conditions for the establishment of a financial holding company fails to meet the regulatory requirements stipulated in the Measures in terms of the ownership structure, the proportion of institutions related to investment and financial business, and the part-time jobs of senior managers, it will be rectified within a certain period of time with the consent of the financial management department, and the specific period will be determined by the financial management department according to the actual situation of the enterprise group. At the end of the transition period, these enterprises should meet the regulatory requirements of the Measures and be accepted by the financial management department. For the increment, it will be implemented in strict accordance with the requirements of the Measures.
20. What is the impact on the financial market?
The impact on financial institutions, non-financial enterprises and financial markets is positive and the risks are controllable.
Some enterprise groups that do not meet the requirements need to carry out equity integration, but the equity transfer is carried out within the group and the actual controller has not changed, so the impact on financial institutions is limited.
In the long run, the "Measures" are conducive to controlling financial chaos, rectifying financial order, and ultimately preventing systemic financial risks.
Editor: Liu Li