上海花千坊爱上海-上海后花园论坛-夜上海龙凤419论坛

CCTV News:The National Bureau of Statistics released today (October 9) that since the 18th National Congress of the Communist Party of China, China has made overall plans to promote high-quality development, build a new development pattern, and promote the high-quality development of the "Belt and Road" initiative.

By the end of 2021, China had signed more than 200 cooperation documents with 145 countries and 32 international organizations to jointly build the Belt and Road Initiative.

Substantial progress has been made in the landmark project of "six corridors and six roads, multi-country and multi-port". The whole line of China-Laos Railway was put into operation, and the "two major" highways in the China-Pakistan Economic Corridor were successfully completed and handed over to traffic.

2013— In 2021, the total import and export value of China and countries along the Belt and Road increased from 6.5 trillion yuan to 11.6 trillion yuan, with an average annual growth rate of 7.5%, accounting for 25% of China’s total foreign trade value in the same period; Direct investment in countries along the route totaled 161.3 billion US dollars, with an average annual growth rate of 5.4%. Countries along the route have invested and set up 32,000 enterprises in China, with an actual accumulated investment of 71.2 billion US dollars.

The construction of cooperative parks has developed vigorously. By the end of 2021, overseas economic and trade cooperation zones were distributed in 46 countries, with an accumulated investment of 50.7 billion US dollars and taxes and fees paid to the host country of 6.6 billion US dollars, creating 392,000 local jobs.

The supporting role of multilateral financial cooperation has emerged. As of October 2021, the number of members of the Asian Infrastructure Investment Bank has increased from 57 when it started operation to 104, which is second only to the World Bank.

By the end of 2021, China had established scientific and technological cooperation relations with 84 co-established countries, supported 1,118 joint research projects, and invested a total of 2.99 billion yuan.

　　Domestic gasoline and diesel prices have fully entered the "5 yuan era". On March 20th, employees of a gas station in Xinle City, Hebei Province were refueling. Photo by Jia Minjie (Zhongjing Vision)

　　Influenced by multiple negative factors, international oil prices have plunged in succession in the past half month. The production of shale oil and gas companies with no financing is unsustainable and will usher in a wave of bankruptcy. The imbalance between supply and demand in the market will accelerate the shift of the focus of the international energy map, from the previous supply-side leading to the demand-side leading, that is, the international crude oil market will be transformed from the seller’s market to the buyer’s market.

　　Influenced by multiple negative factors, international oil prices have plunged in succession in the past half month. On March 18th, the New York Mercantile Exchange light crude oil futures for April delivery closed at $20.37 per barrel, while London Brent crude oil futures for May delivery closed at $24.88 per barrel. Compared with the beginning of this year, the prices of West Texas Intermediate crude oil and Brent crude oil both fell by more than 60%. The sharp drop in international oil prices may reshape the international energy landscape and accelerate the restructuring of the international energy landscape.

　　The imbalance between supply and demand of crude oil has intensified.

　　Nowadays, the basic balance between supply and demand to maintain the trend of international oil prices has been broken.

　　Look at the demand first. The COVID-19 epidemic has spread around the world, and many countries and regions have taken "hard core" measures to prevent and control it. A large number of international flights have been grounded, enterprises have stopped production, and global economic activities have slowed down significantly, which has seriously impacted the global oil demand. Analysts of Lyestad Energy Company lamented that the demand for aviation kerosene, gasoline, shipping oil, petrochemical products and power generation oil plummeted at the same time this year, "this is a rare bleak scene".

　　Bank of America predicts that global oil consumption will shrink to more than 500,000 barrels per day in the first half of this year. If the epidemic situation is not controlled, the shrinking demand may continue into the second half of this year. The head of global commodity research at Goldman Sachs Group pessimistically predicted that oil consumption would drop by 8 million barrels per day. The same view is held by Citibank, which predicts that the global oil demand will decrease by 4 million barrels per day in 2020, a record, and the oil demand in the second quarter will shrink to 11 million barrels per day.

　　Look at the supply. On March 6th, after the OPEC+Ministerial Meeting’s talks on production reduction broke down, Saudi Arabia announced that it would start to increase production substantially, and planned to increase production to 12 million barrels to 12.5 million barrels per day. Russia plans to increase production to 11 million barrels to 11.5 million barrels per day. In order to seize market share, Iraq, Nigeria, United Arab Emirates, Kuwait and other countries have also announced to join the army of increasing production.

　　On the one hand, demand has shrunk dramatically, on the other hand, supply has increased dramatically, the relationship between supply and demand has been completely unbalanced, and international oil prices have been diving. Many institutions predict that if the surplus crude oil cannot find a way out, the oil price may drop below $20 per barrel.

　　The imbalance between supply and demand in the market will accelerate the shift of the focus of the international energy map, from the previous supply-side leading to the demand-side leading, that is, the international crude oil market will be transformed from the seller’s market to the buyer’s market. Faced with sufficient market supply, major oil importing countries have a greater say. In recent years, the new map of global energy has gradually become clear, and the global consumption increase of oil and gas resources mainly comes from Asian countries such as China, Indian, Japanese and Korean. This round of falling oil prices will prompt emerging economies to play an increasingly important role in the global energy market.

　　Shale enterprises will be affected.

　　The international oil price plummeted, and those high-cost oil producers were the first to be injured, and shale oil and gas enterprises, especially those with small scale and high debt ratio, were the first to bear the brunt. It is estimated that at the current oil price, most shale oil wells drilled in the United States will be unprofitable. Elacott, senior vice president of Wood Mackenzie, an energy consulting company, believes that falling oil prices may trigger a new round of deep adjustment in the industry.

　　It is estimated that the production cost of most American oil and gas enterprises is above $50 per barrel. When the oil price drops to $30/barrel, only a few companies, such as ExxonMobil, Chevron and Western Petroleum, can continue to drill new wells to make profits, and the rest will all lose money. Different from traditional oil and gas, shale enterprises must constantly drill new wells to maintain production, which requires constant additional investment. To this end, a large number of shale oil companies have to raise funds by issuing bonds. Nowadays, the sharp drop in international oil prices has affected investors’ expected returns and spending plans, making it difficult for shale companies to raise funds. Small and medium-sized oil companies in the United States have begun to cut their investments, such as Apache, which has cut 37%, and Devon Energy, which has cut 30%.

　　Fitch Ratings, a rating agency, predicts that from 2020 to 2022, American shale oil and gas companies will have debts of nearly $200 billion due soon. Due to the sharp drop in oil prices, their debt ratings are close to "junk bonds", and the financing costs of shale oil and gas companies will rise sharply. The production of shale companies with no financing is unsustainable, and will usher in a wave of bankruptcy and become the first batch of "killed" enterprises. Norway’s Ruizide Consulting Company predicts that the crude oil production capacity of American shale companies facing bankruptcy this year will reach 2 million barrels per day. During the low oil price period from 2014 to 2016, dozens of shale enterprises in the United States went bankrupt.

　　Some analysts believe that the exit of American shale companies is exactly what Russia and Saudi Arabia want. The talks between Saudi Arabia and Russia collapsed at the OPEC+Energy Ministers’ Meeting in Vienna, and they failed to reach an agreement on reducing production and insuring prices, and then they started a price war. The main reason was that American shale companies squeezed their market share. "Kill one thousand enemies and lose eight hundred." By suppressing American companies in the form of price wars, Saudi Arabia and Russia have paid a great price and suffered great losses. Oil revenue of oil-producing countries depends on oil price and output. Now that the oil price is halved, the output must be doubled before the two phases can be even.

　　Besides, oil production in Russia and Saudi Arabia also faces cost constraints. Compared with American shale companies, Russia has a good resource endowment and its oil production cost is relatively low. Developed oilfield infrastructure and efficient railways and pipelines enable Russian oil giants to operate at a lower cost. According to estimates, Russian oil companies can bear the low oil price of $15/barrel. In other words, before the oil price drops to $15 to $20 per barrel, Russian energy companies can continue to maintain production, but their profits have shrunk dramatically.

　　For Saudi Arabia, the cost of oil exploitation is lower, less than $3 per barrel. However, in order to maintain the normal operation of the national economy, other costs attached to oil prices are quite high. Saudi Arabia’s national finance mainly relies on oil revenue to maintain the government’s fiscal balance, so it usually needs a high oil price of $80/barrel to support it. Saudi Arabia’s current account is very sensitive to oil price fluctuations, and it is difficult to withstand long-term price wars.

　　Overall beneficial to economic development

　　The sharp drop in international oil prices is indeed a big plus for China as a whole. As the largest net oil importer, the price of crude oil has fallen sharply, which is conducive to China’s significant reduction in crude oil import expenses.

　　Last year, China imported more than 500 million tons of crude oil, with a daily average of 10 million barrels, an increase of 9.5% over the previous year, and the import expenditure was about 166.3 billion US dollars. Now, falling oil prices will save China a lot of money and increase its current account surplus. Ordinary people have already felt the benefits of low oil prices. Recently, China’s refined oil prices have been lowered into the "5 yuan era", and motorists can fill up a tank of oil with less money. As the blood of modern economy, the decline in energy prices is conducive to reducing transportation costs, stabilizing prices, lowering the high CPI index, and providing more space for China’s macroeconomic regulation and control.

　　On international occasions, the decline in international oil prices is also conducive to China’s expansion of "oil diplomacy" space and provides opportunities for the development of "PetroRMB". Yujun Feng, vice president of the Institute of International Studies of Fudan University, believes that when the international oil market is oversupply and the price is low, China can learn from the experience of the European Union, and modify the clauses in the natural gas trade agreements with Russia, Turkmenistan and Myanmar that are linked to oil prices and pay according to demand, so as to safeguard our interests to the maximum extent. At the moment when "the market is king", major oil and gas producers are eager to compete for China’s market share. China can further increase the diversification of oil and gas imports and urge relevant energy suppliers to provide me with more favorable export prices and other conditions. When the international oil price falls into the era of low price, the "Petrodollar" in the financial market will drop sharply, and the oil transaction will tilt towards the buyer’s market, which is conducive to the internationalization of RMB and provides a rare opportunity for the rise of "PetroRMB".

　　However, the sharp drop in international oil prices will also bring a wave of impact to China’s energy industry. China is also a big oil producer, with an oil output of 190 million tons last year. Low oil prices will make domestic oil fields fall into losses and bring cold winter to local oil producers. Chinese-funded enterprises’ overseas oilfield investment will also be adversely affected.

　　The impact on the new energy industry should not be underestimated. Compared with the oil price of $30/barrel, new energy sources such as solar energy and wind energy will be less competitive in the power generation market, which is directly related to the survival of a large number of new energy enterprises and affects the healthy development of the national new energy industry. The spillover effect of low oil prices will also affect new energy vehicles. A joint study by the University of Chicago and the Massachusetts Institute of Technology shows that before the breakthrough of battery technology, the oil price of $50/barrel will make the development of electric vehicles difficult. Today’s oil price of less than $30/barrel will undoubtedly affect the development of new energy vehicles.

Weilai’s power exchange mode is another way for new energy vehicles to replenish energy, and the benefits of this method are obvious, which is as fast as that of fuel vehicles, which is incomparable to charging.

There are always people who say that when the solid-state battery comes out, the battery changing mode will be eliminated. In fact, this is a wrong statement.

No matter what kind of battery it is, the charging time can’t be faster than the battery changing time. It only takes 2~3 minutes to change the battery, and it takes half an hour at the earliest to fully charge the power battery, even if it is overcharged.

In terms of efficiency, the advantages of power exchange are obvious.

At present, the total number of new energy vehicles is 24.72 million (by the end of June 2024), of which 18.134 million are pure electric vehicles, accounting for 73.4%.

The total number of cars in China is 336 million. If the number of new energy vehicles continues to rise in the future, reaching 100-300 million, how to solve the problem of charging (recharging)?

For plug-in hybrid vehicles and extended-range electric vehicles, because there is no endurance anxiety, the demand for charging is not that strong, and these two new energy vehicles certainly cannot change their electricity.

Only pure electric vehicles have endurance anxiety, and the power exchange is mainly aimed at pure electric vehicles.

Nowadays, many people don’t have their own independent garage and can’t install charging piles, which limits their motivation to buy pure electric vehicles. These people either buy oil cars or plug-in hybrid cars.

Oil vehicles will be eliminated in the future, and the probability of plug-in hybrid vehicles is also transitional. Pure electric vehicles must solve the problem of endurance anxiety and the charging time. If there is an option of changing power, I believe many people will choose it.

If you are in a city, it is no problem to charge a plug-in hybrid car. Even if you don’t have a charging pile, there are charging piles everywhere in the city.

Among new energy vehicles, pure trams account for more than plug-in hybrid vehicles and extended-range vehicles, occupying a dominant position. The number of pure trams has reached 100 million, and charging will be a huge problem, so the significance of changing electricity is reflected.

At present, there are 11.433 million charging piles in China, including 8.104 million private charging piles, most of which are private charging piles, and the number of private charging piles will not be released to charge others, so the number of charging piles will be even less.

The total number of charging piles is less than half of the number of new energy vehicles. Obviously, the construction progress of charging piles is completely inferior to that of new energy vehicles, and this contradiction will exist for a long time.

Conventionally, the number of charging piles should be at least twice as large as that of new energy vehicles, so as to facilitate charging. If the number of new energy vehicles reaches 100 million, such as 300 million, there should be at least 600 million charging piles, which is a terrible number.

If there is the function of changing electricity, it will greatly alleviate the problem of charging new energy vehicles, which is an excellent choice.

At present, most people who buy new energy vehicles have their own charging conditions. How can those who don’t have charging conditions solve their charging needs? I think changing electricity is one way.

You can say that,The more new energy vehicles, the more important it is to change electricity, unless the country can solve the serious shortage of charging piles..

Weilai currently has 2,560 power stations in China, including 860 in expressway service areas. Weilai Automobile plans to build 5,000 power stations in the next few years.

The investment in a power station in Weilai is 1 million to 2 million RMB, and 5,000 power stations need to invest 5 billion to 10 billion RMB. This investment is huge. For an enterprise, it is difficult to invest so many power stations firmly without the endorsement of the state.

I think Weilai’s investment in changing power stations must be supported and acquiesced by the state, which is conducive to the development of the whole industry of new energy vehicles.

Weilai’s investment in building and replacing power stations is huge, with a cumulative loss of 97.01 billion RMB. However, at present, power station replacement is an exclusive business in China, and there is no worry about future profitability.

As long as pure electric vehicles exist, there is no problem in changing power stations.

At present, seven car companies have joined Weilai Power Station and can use Weilai’s power exchange business, namely, Changan, Geely, Jianghuai, Chery, Lotus, Guangzhou Automobile, FAW, Ruilan and Huawei HarmonyOS Zhixing.

The pure electric vehicles produced by these car companies that have joined the power exchange agreement can not only charge, but also exchange electricity. What’s wrong with one more way to replenish energy? This is the reason why consumers buy cars.

At present, the only pure electric vehicle that has no scruples about running long-distance and high-speed is Weilai Automobile, because it can change electricity and does not need to grab charging piles with other vehicles, and the time is fast, which makes many pure electric vehicle owners envy.

Charging piles should be the most common in the future, followed by changing power stations. In the future, there will be more ways to replenish energy. All gas stations may become charging stations or changing power stations, and there will even be private investment in changing power stations in the future.

Power exchange will not be eliminated, on the contrary, it will only become more and more important.

Imposing tariffs on agricultural products imported from the United States has little impact on China.
-Interview with Han Jun, Deputy Director of the Central Agricultural Office and Vice Minister of Agriculture and Rural Affairs.

In view of the hot issues related to agricultural products in Sino-US economic and trade frictions, the reporter recently interviewed Han Jun, deputy director of the Central Agricultural Office and vice minister of agriculture and rural affairs.

China’s agricultural trade has a huge volume and a broad market.

Reporter: Please tell us about the overall situation of Sino-US agricultural trade in recent years. How do you evaluate the development of Sino-US agricultural trade?

Han Jun: Agricultural products trade plays an important role in Sino-US economic and trade relations. China is the world’s largest importer of agricultural products, and the United States is the world’s largest exporter of agricultural products. Strengthening agricultural trade cooperation between China and the United States is conducive to promoting the agricultural development of the two countries.

American agriculture has a high level of modernization and strong competitiveness. Expanding the export of agricultural products to China has always been the focus of the United States to expand overseas markets. Agriculture has always been a core issue in Sino-US economic and trade consultations. In 2017, China imported 24.12 billion US dollars of agricultural products from the United States, accounting for 19.2% of China’s total agricultural products imports; Exports of agricultural products to the United States amounted to $7.73 billion, accounting for 10.2% of China’s total agricultural exports; China’s agricultural trade deficit with the United States reached $16.38 billion.

China and the United States have different endowments of agricultural resources, and the trade of agricultural products is highly complementary. The advantages of land-intensive agricultural products in the United States are outstanding, while the advantages of labor-intensive agricultural products in China are obvious. In 2017, China mainly imported soybeans (US$ 13.95 billion), livestock products (US$ 2.92 billion) and cereals (US$ 1.51 billion) from the United States; China’s agricultural products exported to the United States are mainly aquatic products ($3.22 billion), vegetables ($1.15 billion) and fruits ($770 million).

China will have a huge demand for agricultural products imports in the future. It is China’s established policy to actively expand agricultural products imports, which is a big cake for global agricultural products exporting countries. We hope that Sino-US agricultural trade can develop healthily, and American farmers can share the cake of China’s expansion of agricultural products imports. The United States ignores the consensus reached by both sides and constantly escalates trade frictions. We firmly oppose it. China is unwilling to engage in a trade war with the United States, but in the face of what the United States has done, China has to introduce necessary countermeasures. If a trade war breaks out between China and the United States, many countries are willing and fully capable of replacing the market share of American agricultural products in China. I have noticed that the American agricultural community is deeply worried about this and hopes to resolve the trade differences between the two countries through negotiations.

China is fully capable of coping with the gap in the reduction of soybean imports in the United States.

Reporter: In response to the economic and trade frictions provoked by the United States, China has taken different measures against some agricultural products imported from the United States. What is the specific situation? Why do you take these measures?

Han Jun: Under the strong leadership of the CPC Central Committee, we resolutely safeguard the core interests of the country, rationally handle Sino-US economic and trade issues, and have to take necessary countermeasures in the agricultural field. So far, China has published two lists of tariffs on goods imported from the United States. Regarding the first batch, China issued an announcement to impose a 25% tariff on US$ 50 billion goods, including US$ 34 billion goods including agricultural products, which will be taxed from July 6, 2018, and the remaining US$ 16 billion goods will be taxed simultaneously with the US. The tax involved 517 agricultural products. In 2017, the total import from the United States was about 21 billion US dollars, mainly including soybeans, grains, cotton, meat, aquatic products, dairy products, fruits, nuts, whisky and tobacco. Regarding the second batch, China has decided to impose tariffs on about $60 billion of products imported from the United States at four different tax rates: 25%, 20%, 10% and 5%. The second batch of goods on the US tax list involves 387 agricultural products. In 2017, the total import from the US was about US$ 2.9 billion, mainly including hides, vegetable oils, vegetables, coffee and cocoa products, which have covered the vast majority of the first batch of untaxed agricultural products.

At present, the first batch of tax products that China has implemented covers nearly 90% of agricultural products imported from the United States, and agricultural products that the United States exports to China are among them, such as soybeans, grains, cotton, pork and other products. China’s countermeasures were put forward after listening to opinions extensively and carefully evaluating the impact, and they were rational and restrained. As far as China is concerned, the impact of increasing tariffs on agricultural products imported from the United States is very limited because of the diverse import sources and wide import market. In the future, relevant departments will evaluate the effect of countermeasures and strive to minimize the impact of countermeasures on domestic production and life.

Reporter: Among these measures, soybeans are undoubtedly the most concerned. Why has China been importing a large number of American soybeans? Will the soybean import gap caused by countermeasures have a greater impact on China’s edible oil and livestock and poultry breeding industry? What are the countermeasures?

Han Jun: Imported soybeans meet the demand for edible vegetable oil and protein feed. With the improvement of people’s living standards and the development of modern animal husbandry, the demand for edible oil and protein feed in China continues to grow. However, China’s land resources are limited, so it is difficult for us to ensure the basic self-sufficiency of staple foods such as wheat and rice, and at the same time ensure the effective supply of other land-intensive products such as soybeans. At present, the gap between domestic soybean production and demand is more than 90 million tons, which needs to be supplemented by the international market. The United States is the largest soybean producer in the world, with an annual output of more than 100 million tons, but its domestic consumption is limited, and about half of it depends on exporting to the international market.

At present, China’s soybean demand is still increasing, and the trend of large gap between domestic supply and demand will still exist. In 2017, soybean meal accounted for 72.3 million tons of 105 million tons of protein raw materials consumed by feed in China. China takes countermeasures against the United States, and soybean imports from the United States will drop significantly. Some people worry that it may have a certain impact on the supply of edible oil and livestock feed in China in the short term. In order to prevent the linkage effect and increase the pressure of rising domestic food prices, we have made thorough and sufficient preparations. It can be said that China is fully capable of coping with the gap of decreasing soybean imports in the United States. First, actively expand the source of soybean imports; Second, reduce the consumption of soybean meal by adjusting feed formula, reduce the demand for protein raw materials by applying new technology, and increase the import of other oilseeds and meal to make up for the gap of soybean meal; The third is to increase the supply of other edible vegetable oils; The fourth is to improve the soybean support policy and improve the comprehensive production capacity of domestic soybeans.

The impact on American agriculture is predictable.

Reporter: The United States is escalating trade disputes. If the United States insists on imposing tariffs on US$ 200 billion worth of China goods, what does it mean for American agriculture if China strongly opposes it?

Han Jun: My imports from the United States are mainly bulk agricultural products such as soybeans, cotton and pork. On July 6, 2018, the United States announced the implementation of the first round of tariff-added products (US$ 34 billion). As a countermeasure, China imposed a 25% tariff on US$ 34 billion goods, including agricultural products. Affected by the escalation of Sino-US economic and trade frictions, it is foreseeable that American agriculture will be damaged. Although the White House and the Ministry of Agriculture announced that they will implement the agricultural subsidy plan of up to $12 billion, American farmers will still face the risk of losing the China market that they have worked hard for decades.

Soybean is the most important product in Sino-US agricultural trade. In July, the Organization for Economic Cooperation and Development (OECD) predicted that the global soybean supply and demand would be basically balanced in 2018, and the soybean output in the United States would be 117.79 million tons, a decrease of 1.5% over the previous year. From 2015 to 2017, the United States exported 59% of its total soybean exports. Based on this, it is estimated that if there is no trade friction, the US soybean exports to China will be more than 30 million tons in 2018. Since I imposed a 25% tariff on American soybeans on July 6, my company has basically stopped purchasing American soybeans. Beginning in October 2018, American soybeans will be listed one after another, and the impact of China’s tariff increase on imported soybeans from the United States will gradually emerge. The United States will face problems such as falling soybean prices, increasing export pressure, and lengthening export cycle, which will bring losses to American soybean farmers and adversely affect the international trade and industrial development of American soybeans. According to monitoring, since I announced in early April that I intend to impose a 25% tariff on US soybeans, the US soybean futures price has fallen by nearly 20%.

On July 25, 2018, President Trump met with European Commission President Juncker, and a joint statement issued after the meeting stated that the EU agreed to import more American soybeans. In 2017, the EU-28 countries estimated that soybean imports were 13.65 million tons. From 2012 to 2016, the EU imported only 5.5 million tons of soybeans from the United States. According to the forecast of the Organization for Economic Cooperation and Development, the European Union’s soybean imports will be between 13 million tons and 14 million tons in the next 10 years. It is impossible for EU soybeans to be all imported from the United States, even if they are all imported from the United States, it will not solve the problem of tens of millions of tons of American soybeans that should have entered the China market.

The hearing held by the U.S. House of Representatives on July 19 also reflected the concern of people from all walks of life in American agriculture about losing market share. American soybean, grain, dairy products, meat, aquatic products, fruits and nuts have been operating in China for many years before gaining market share in China. The competition in China’s agricultural products market is fierce. If Sino-US economic and trade frictions escalate, American agricultural products will face higher costs in the China market, and their market share will be greatly weakened. Other competitors will not miss the opportunity and will occupy all the market share lost by the United States. If other countries become reliable suppliers to China, it will be difficult for the United States to regain the market. This is exactly what the American agricultural community is most worried about. They don’t want the long-term income to be affected by tariffs.

Actively, steadily and orderly expand agricultural opening to the outside world

Reporter: What is the impact of tariffs imposed by the United States and Canada on China’s agricultural products exported to the United States? How to deal with it?

Han Jun: The catalogue of the first round of products subject to tariff increase (US$ 34 billion) announced by the US on July 6th does not include the agricultural products exported by China. The catalogue of the products subject to the second round of tariff increase (US$ 200 billion) announced by the US on July 10th includes most of our aquatic products and fruit and vegetable products exported to the US.

In terms of aquatic products, the United States is my second largest aquatic product export market. In 2017, my aquatic products exported to the United States accounted for 12.8% and 15.2% of my total aquatic products exports respectively. Aquatic products are the main agricultural products exported to the United States, accounting for 42% of the total agricultural products exported to the United States. The US$ 200 billion commodity list covers all my aquatic products exported to the US. These products are exported to the United States with a high degree of dependence, especially tilapia, shrimp, crab, shellfish and other products. It is difficult to find other alternative markets in the short term and may be affected to some extent. In the next step, the Ministry of Agriculture and Rural Affairs, together with relevant departments, will guide relevant producers to actively explore international alternative markets, strengthen efforts to crack down on smuggling, guide and adjust the structure of breeding varieties, facilitate domestic circulation and sales, expand domestic consumption, and minimize the impact.

In terms of fruit and vegetable products, the United States is the fifth largest vegetable export market and the third largest fruit export market. There are more than 200 kinds of fruit and vegetable products in the list of tariff increase announced by the United States, covering 93% of vegetable products and 99% of fruit products exported to the United States. It is expected that taxation will have a certain impact on the income and employment of relevant fruit farmers and vegetable farmers. However, considering the strong absorption capacity of domestic consumption and the generally lower prices of domestic fruit and vegetable products this year, the actual impact of the US-Canada tariff on the export of our fruit and vegetable products remains to be seen. Next, we will improve the quality of fruit and vegetable products from the production side, enhance market competitiveness and expand the domestic consumer market; At the same time, actively expand the export channels of agricultural products, increase the export promotion of advantageous agricultural products such as fruit and vegetable products, and minimize dependence on the American market.

Reporter: Will China’s agricultural opening-up policy be adjusted in the future?

Han Jun: It has always been the basic policy of China’s agriculture to actively utilize domestic and international resources and markets. China’s agricultural trade is huge, and it has become the world’s largest importer of agricultural products and the second largest trader of agricultural products. At present, China is the largest buyer of agricultural products such as soybeans, sugar and cotton. The development of agricultural products trade has effectively eased the pressure on domestic agricultural resources and environment, and ensured the stable operation of domestic supply and market. At present, the main contradiction of China’s agricultural development has changed from insufficient aggregate to structural contradiction, and it is necessary to accelerate the structural reform of agricultural supply side in deepening reform and expanding opening up. In the future, those who export should try their best to export and those who import should take the initiative to import, which is our clear policy orientation. Agricultural opening to the outside world is the general trend and the correct choice in line with China’s agricultural development direction. We will actively, steadily and orderly expand agricultural opening to the outside world. (Reporter Qiao Jinliang)

　　On April 8, according to the Economic Development Bureau of Hengqin Guangdong-Macao Deep Cooperation Zone, the inspection and release hall for the on-board personnel of the passenger and truck passage at Hengqin Port will be opened at 15: 00 on April 9. It is understood that the entry-exit passage of the vehicle-mounted personnel inspection and release hall will adopt the "cooperative inspection and one-time release" customs clearance mode, and eight quick inspection passages and three manual inspection passages will be set up respectively to further improve the level of customs clearance convenience.

　　After the opening of the car attendant inspection and release hall, all the car attendants who take less than 9 non-operating minibuses can pass through the customs clearance hall. According to the relevant regulations, children aged 10 or below, elderly aged 70 or above, pregnant women and other China citizens and people with disabilities who need assistance can continue to drive through the entry and exit lanes in non-operating vehicles after the opening of the on-board personnel clearance hall. Other vehicle-borne personnel can walk to the vehicle-borne personnel clearance hall for customs clearance after the vehicle stops at the designated place at the port.

　　It is worth noting that people who use the on-board personnel inspection and release hall should bring their personal luggage and articles through customs. For the owners of Macao pet dogs and cats in the "list of applicable personnel", they can also bring one pet dog and cat that meets the requirements of exemption from inspection at a time with the vehicle, and use the inspection and release hall of the vehicle attendant to clear customs.

On November 30th, with the launch of six power stations,The high-speed power exchange network in Hubei section of G50 Shanghai-Chongqing Expressway was officially opened.. It fills the gap in Qianjiang and Huanggang areas, which can not only meet the urban traffic, but also provide convenience for intercity travel. In addition, there is an overcharge station online.

The Hubei section of G50 Shanghai-Chongqing Expressway has a total length of 700 kilometers, with a total of 10 power exchange stations along the way, starting from Huanggang in the east and passing through Huangshi, Wuhan, Xiantao, Qianjiang, Jingzhou and Yichang in the west to Enshi. It is a traffic trunk line that traverses Hubei and forms a cross-shaped high-speed power exchange network with G4 Hubei section. In the future, based on this, Weilai will continue to lay out other high-speed charging and replacing facilities in Hubei to ensure that users and friends can travel in Hubei without worry.

Weilai Power Station | G50 Shanghai-Chongqing Expressway Gaojiayan Service Area Chongqing Direction

The new station is located in Gaojiayan service area of G50 Shanghai-Chongqing Expressway, about 192 kilometers away from Enshi Tujia and Miao Autonomous Prefecture, and the travel time is about 2 hours and 41 minutes. It is about 181.2 kilometers away from Jingzhou, and the journey time is about 2 hours and 8 minutes. The launch of the station will greatly improve the travel convenience of Wuhan-Chongqing section.

Weilai Power Station | G50 Shanghai-Chongqing Expressway Gaojiayan Service Area

Unique shape, cornices, shaped like Tujia diaojiao building, a building with national characteristics, hidden among thousands of trees and green cages. The new station is located in Gaojiayan service area of G50 Shanghai-Chongqing Expressway, about 376 kilometers away from Wuhan, and the travel time is about 4 hours and 58 minutes, which provides a convenient experience for users who travel long distances on this section!

Weilai Power Station | G50 Shanghai-Chongqing Expressway Qianjiang Ecological Lobster City

The new station is the 26th power station in Hubei and the 671st power station in China. The station is 3.1 kilometers away from the Qianjiang entrance and exit of G50 Shanghai-Chongqing Expressway, and it takes about 7 minutes by car. The launch of the new station fills the gap of power exchange resources in Qianjiang area, and together with 28 other power exchange stations in Hubei area, it will provide matrix energy replenishment services for all friends, starting at any time and place with full power.

Weilai Supercharge Station | G50 Shanghai-Chongqing Expressway Jiangxia Service Area Chongqing Direction

The new station is located in Jiangxia service area of G50 Shanghai-Chongqing Expressway, which is the 27th power exchange station in Hubei. The service area has complete facilities and meets the basic conditions of two-way communication. The launch of this power exchange station will also be more convenient for users and friends to travel between cities.

Weilai Power Station G50 Shanghai-Chongqing Expressway Jiangxia Service Area Shanghai Direction

The new station is the 28th power exchange station in Hubei province and the 673rd power exchange station in China, which can not only provide users and friends who pass through here with a convenient energy-replenishing experience, but also meet their one-stop needs such as rest and dining.

Weilai Power Station | G50 Shanghai-Chongqing Expressway Huangmei Service Area Shanghai direction

The new station is located in Huangmei service area of G50 Shanghai-Chongqing Expressway, at the junction of Hubei, Anhui and Jiangxi provinces, and near the Buddhist holy places of Wuzu and Sizu Temple. Huangmei County is not only the "thoroughfare of seven provinces" and "the gateway to eastern Hubei", but also the birthplace of Zen Buddhism and Huangmei Opera, one of the five major operas in China, and the famous "hometown of picking flowers" in China. Users and friends are welcome to punch in and play.

Weilai Supercharge Station | G50 Shanghai-Chongqing Expressway Qianjiang Ecological Lobster City

Weilai Supercharge Station | G50 Qianjiang Ecological Lobster City of Shanghai-Chongqing Expressway is adjacent to Weilai Power Station, and there are four supercharged piles inside, which will provide a fast and convenient way for all electric vehicles to recharge their energy at any time and leave if they want.

Hubei regional charging and replacing power resources

Up to now, there are 29 power exchange stations, 17 overcharge stations and 7 destination charging stations in Hubei, and 17,250 third-party charging piles are connected.

Weilai National Buneng Network

By November 30th, we had set up 678 power stations in China, including 143 expressway power stations, 516 and 2,940 overcharged stations, 598 and 3,307 destination charging stations, and connected more than 430,000+ third-party charging piles.

In the future, we will speed up the layout of the charging and replacing network, so that more users can really feel the car experience that charging is more convenient than refueling!

B5.2 supplier management methods

one

Guide the original text

Describe the practices of hiring suppliers, the number of suppliers to whom the practices are implemented, and the implementation and monitoring methods of the practices.

two

Index interpretation

This indicator is a key performance indicator, and the disclosure requirement is "explain if you don’t comply", which will take effect in the fiscal year starting on or after July 1, 2020.

For the definition of "supplier", please refer to the index definition of "B5.1 number of suppliers".

three

benchmarking

The ESG Guidelines of the Stock Exchange, ISO 26000 and GRI Standards all include the main contents of enterprise supplier management methods. ESG Guidelines focus on the disclosure of the practices of employing suppliers, the number of suppliers implementing relevant practices, and the monitoring methods of implementing relevant practices. ISO 26000 focuses on the main measures taken by enterprises to promote social responsibility in the value chain. GRI Standards focuses on the disclosure of enterprises’ identification and management measures of direct or potential risks to suppliers in terms of environment and human rights. For the contents disclosed in accordance with ESG guidelines, please refer to the disclosure items GRI 308-1, GRI 308-2, GRI 412-1 and GRI 412-2.

Table B5-2 Benchmarking Analysis of Key Performance Indicator B5.2 with ISO 26000 and GRI Standards

four

Key points of management

This indicator reflects the responsibility of enterprises to suppliers. The implementation of responsible procurement by enterprises is helpful to manage the environmental and social risks of suppliers, and it is convenient for external stakeholders to understand the procurement methods and principles of enterprises and the procurement situation in areas with high social responsibility risks.

● In order to implement the supplier management policy, enterprises can establish a supplier social responsibility evaluation and investigation mechanism based on the quality and environmental evaluation system, and establish a supplier social responsibility evaluation index system according to the requirements of the access terms.

● Enterprises should jointly improve the social responsibility level of suppliers through auditing, training, counseling and other activities, and take active measures to encourage suppliers to fulfill their social responsibilities.

● Enterprises should evaluate suppliers’ performance of social responsibilities in quality, environment and society in daily management, and regularly evaluate and review suppliers’ performance of social responsibilities by means of self-inspection or entrusting a third-party organization, and the review results can be used as an important basis for supplier selection, order increase, rewards and punishments.

five

Disclosure suggestion

Enterprises should disclose the management points of implementing responsible procurement in the report, including the implementation and evaluation methods of supplier management mechanism. Enterprises that produce or operate in high-risk areas of social responsibility should focus on the disclosure of this indicator, supplemented by written explanations when necessary, so that external stakeholders can understand the procurement situation of enterprises in high-risk areas of social responsibility.

six

Typical case

Source: Canon (China) Corporate Social Responsibility Report 2019-2020 P42.

Canon (China) Corporate Social Responsibility Report 2019-2020 reveals that Canon (China) has formulated a supplier management process that integrates the concept of social responsibility, including key links such as supplier development, supplier cooperation selection, supplier cooperation transaction, supplier performance evaluation, etc., to promote suppliers to continuously improve their own management capabilities and provide strong support for forming an efficient, stable and sustainable "Canon-style supplier team".

For more information about ESG guideline interpretation and application sharing, you can pay attention to Golden Bee Micro Store and purchase the latest edition of ESG Indicator Management and Information Disclosure Guide to get the latest and most referential professional interpretation and experience sharing.

Text | ESG Research Group

Recommended reading

▼

ESG Observation 23 | Decoding Disclosure Points of Localization Procurement ESG Observation 22 | Strictly investigate and punish, and raise the banner of labor standards

ESG Observation 21 | How do enterprises avoid employment risks? ESG Watch 20 | How do companies disclose employee training hours? ESG Observation 19 | How to Make the Best Use of People’s Talents ESG Observation 18 | How to Overcome the Challenges to Health and Safety

ESG Watch 17 | How Enterprises Improve Health and Safety Performance

ESG Progress Watch 16 | Occupational Health and Safety Related Information

ESG Progress Observation 15 | How to Look at Enterprise’s Human Capital Policy from Employee Turnover

ESG Observation 14 | Decoding the Disclosure Points of Enterprise Diversification and Inclusion

ESG Watch 13 | How do enterprises analyze and respond to climate change risks?

ESG Watch 12 | How can enterprises reduce their environmental footprint?

ESG Observation 11 | How to manage product packaging materials?

ESG Observation 10 | How do enterprises manage water resources?

ESG Watch 09 | How to Improve Energy Efficiency?

ESG Observation 08 | How do enterprises disclose water consumption and demonstrate resource saving practices?

ESG Observation 07 | How to Manage Enterprise Energy?

ESG Watch 06 | How can enterprises reduce waste?

ESG Watch 05 | Has the enterprise set the emission reduction targets for gas pollutants?

ESG Observation 04 | How do enterprises manage harmless waste discharge?

ESG Observation 03 | Is the enterprise’s hazardous waste emission management good?

ESG Observation 02 | What are the data related to greenhouse gases?

ESG Observation 01 | How do enterprises disclose exhaust emissions?

This article first appeared on WeChat WeChat official account: Golden Bee. The content of the article belongs to the author’s personal opinion and does not represent Hexun.com’s position. Investors should operate accordingly, at their own risk.

　　Cctv news(News Network): According to the data center of the Ministry of Culture and Tourism, during the National Day holiday this year, there were 422 million domestic tourism trips, and the domestic tourism income was 287.21 billion yuan. A total of 10,801 A-level tourist attractions are open normally, accounting for 75% of the total A-level tourist attractions. Twelve excellent sports tourist routes and 128 national rural tourist routes have enriched the holiday tourism market.

　　Cultural centers at all levels across the country organized 13,940 events with 59,274,800 participants. Major literary and art performance groups are innovative, presenting various types of stage art works, including Minning Town’s Literature and Art in the Anti-Japanese War. Home-made films with the theme of "Wan Li’s Return" appeared in the National Day archives, playing an inspiring voice of the times.

In May, a large number of imported durians were listed, and "price diving" attracted the attention of all parties. The reporter learned that a large number of domestic durians will also be listed in June and July.

According to industry insiders, the supply of durian in China has been dependent on imports for many years. This year, although domestic durian has made some breakthroughs in planting area and yield, its promotion scope is limited, and it still takes time for consumers to eat domestic durian with good quality and low price.

Domestic durian production increases, and the industry expects it to replace imports.

In Hainan, China, a batch of domestic durians are waiting to be listed. The latest data shows that at present, the planting area of durian in Hainan is close to 40,000 mu, which means that more domestic durians will enter the market in the future.

What is the harvest and quality of domestic durian this year? Zhou Zhaoxi, an associate researcher at the Institute of Tropical Crop Variety Resources, Chinese Academy of Tropical Agricultural Sciences, told reporters that the domestic durian was commercially planted and listed for the first time last year, which received good market feedback.This year, domestic durian is expected to be listed in mid-May to July. Compared with the domestic durian sold last year, the supply of domestic durian should double this year, and the appearance and taste will be improved.

At present, the durian that Chinese consumers can buy is mostly produced overseas. According to customs data, in 2023, China imported more than 1,425,900 tons of fresh durian, worth about 6.716 billion US dollars, an increase of 72.87% compared with the number of durian imported in 2022.

Chen Lei, secretary-general of China Fruit Circulation Association, told reporters that durian was not produced in China, and the main producing area of durian was in some Southeast Asian countries with lower latitudes. However, the consumption of durian in China is growing very fast, the demand is great, and the supply is relatively short, which leads to the rapid growth of durian import scale and high price in recent years.

"The price of durian is closely related to the supply of durian in the market." Zhang Yu, who is engaged in import and export fruit trade, bluntly said, "Southeast Asian countries are also increasing the planting area of durian. The supply this year is more than in previous years, and the price is naturally cheaper. Compared with imported durian, domestic durian has advantages in transportation distance and variety independence. If domestic durian can be listed on a large scale in the future, the price of durian will be more close to the people. "

What are the difficulties faced by durian "localization"

"Domestic durian is still in a small-scale trial planting stage, and suitable varieties and management techniques are still being explored, and large-scale commercial planting has not yet formed." Chen Lei said.

According to the data of Hainan Academy of Agricultural Sciences, the output of durian in Hainan is expected to reach 50 tons in 2023. Even if the domestic durian production doubles in 2024, it is still far from the annual import of millions of tons of durian in China.

"In Hainan, more than 90% of durian trees have been planted since 2018, and durian trees can only try to’ bear fruit’ in the third to fourth years of planting, and then they can gradually form mass production after the fifth year." Zhou Zhaoxi said, "Durian trees are crisp and not wind-resistant. There are few typhoons in Southeast Asian countries, but there are typhoons and cold currents in Hainan every year. We are also conducting research on dwarfing culture techniques and cold-resistant cultivation of durian trees. After the durian tree is dwarfed, it can reduce the losses caused by natural disasters. "

The small scale of domestic durian cultivation has also discouraged many traders and enterprises who want to promote domestic durian. Zhang Yu once went to Guangxi and other places to look for business opportunities of domestic durian, but the local durian quantity was not enough to meet the market demand, so he chose to wait and see. "The large-scale promotion of domestic durian may take at least five years." Zhang Yu said.

At present, how can I buy domestic durian? Zhou Zhaoxuan said: First, some tourists come to Hainan, and after tasting the domestic durian, they place an order in the local area to buy it, and then make a reservation to the place of origin in advance every year; Second, the person in charge of the durian producing area in Hainan sells it through e-commerce channels; Third, some large enterprises will also come to Hainan to buy durian from local durian growers. On the whole, domestic durian can only be planted on a large scale in Hainan at present, but the planting area in Hainan is also limited, and it will take time to realize large-scale commercial planting.

Can domestic durian make durian more affordable?

After the May Day holiday, a photo of durian on the street in Guangxi with a price of "5 in 100 yuan" became popular on the Internet. Many consumers said on social media that "it is more promising to realize durian freedom".

The reporter saw from the online supermarket and e-commerce platform that the current price of a single durian is more than 100 yuan, and the price per kilogram of durian is about 60 yuan.

After the domestic durian is listed, will the price be lower? Zhou Zhaoxi said,Domestic durian is "ripe on the tree", which has more advantages in taste and freshness than imported durian, and the price may not be significantly reduced.

"’durian freedom’ is a beautiful goal for everyone. To achieve this goal, there must be enough durians on the market. However, at present, durian is still a symbol of high consumption. To realize’ durian freedom’, it is still necessary to increase the planting area and output of domestic durian. At the research end, we are introducing various durian variety resources, cultivating durian varieties suitable for local growth environment and with independent intellectual property rights, and systematically studying the supporting techniques for efficient cultivation of durian; On the market side, enterprises should unite scientific research units to support the sustainable development of durian industry with technology and implement the strategy of "going out-introducing-going out again"; At the government level, do a good job in policy support, suitable district planning, and make certain funds tilt in variety cultivation, technology research and development and achievement transformation. I believe that after the output of domestic durian increases, what everyone calls’ durian freedom’ can be realized. " Zhou Zhaoxi said.

In November, 2023, Tesla announced that it had started to introduce the fully autonomous driving (FSD)V12 version to employees, which will introduce the neural network system and use the latest end-to-end autonomous driving technology, instead of relying on complicated and lengthy codes. In 2024, FSD V12 began to be fully promoted, and at the same time, it became possible for FSD to enter China. For a time, "end-to-end" has become the hottest word in the field of autonomous driving all over the world.

What exactly is end to end? Does landing end to end mean that the car will become a "robot"? How much help and influence does large model, multi-modal and neural network learning have on fully automatic driving? What is the strength of China Company in the field of AGI? Some time ago, we visited the headquarters in Shang Tang and talked with Dr. Wang Xiaogang, an industry expert, co-founder and chief scientist of Shangtang Technology and president of Jueying Smart Car Group. In the interview, we also learned more about the development and planning of Shang Tang Jueying in the automobile industry.

"Shang Tang is a leader in the field of AGI"

"Shang Tang’s business is all over the world"

1. What is the difference between AGI and traditional AI? What is end to end?

AI stands for artificial intelligence, which can perform specific tasks or solve specific problems, such as speech recognition, image processing and natural language processing. It can be highly specialized but limited to specific fields. Nowadays, AI technology is mature and widely used in medical, financial, transportation and other industries.

"AI is applied to high-speed rail detection"

"AI is applied to mine operations"

"AI is applied to medical examination"

AGI (General Artificial Intelligence) refers to a system with human-like general intelligence, which can show extensive adaptability in different tasks and fields. It is relatively simple to develop an artificial intelligence system in a specific field, and it is only necessary to train the model through a large number of data and specific algorithms. However, AGI needs to simulate the extensive cognitive ability and self-learning ability of human beings, which is extremely difficult to achieve.

"AGI requires more technology"

"Shang Tang’s big artificial intelligence device"

To better understand the end-to-end, we need to compare it with the traditional autopilot control logic: the traditional autopilot system adopts a modular deployment strategy, in which each function, such as perception, prediction and planning, is independently developed and integrated into the system, and it needs to be implemented step by step. End-to-end autonomous driving can make judgments directly after "seeing" the external scene, just like people, from information input to decision execution in one go, without intermediate links.

Direct perception emphasizes that the system obtains environmental information directly from the original data without too many intermediate processing and conversion links, which is a key starting point in end-to-end communication. Direct decision-making is to directly generate driving strategies and action instructions based on the perception results, which reduces the complicated reasoning and conversion process in the middle and is also an important embodiment from end to end.

End-to-end can realize the coherence and integrity of the whole automatic driving process, which includes not only perception and decision-making, but also the transformation of decision-making into actual vehicle control actions and seamless connection and efficient cooperation in the whole process. Therefore, direct perception and direct decision-making are one of the core features of end-to-end, but they cannot be simply equated with end-to-end. End-to-end is a more comprehensive concept covering the whole autonomous driving system from input to output.

"End-to-end is the key process of AGI technology development"

Of course, end-to-end can not only be applied in the field of intelligent driving, but this big model is more like people’s way of thinking, which saves complicated steps in the middle and reduces the loss of data. From information input to strategy output, the same set of algorithm models are used, often large models containing a lot of data and information. End-to-end application is the key process of AGI technology development.

Second, the core of developing AGI technology is originality.

AGI technology has been the focus of development in various industries all over the world in recent years. As a top expert in AGI field, Wang Xiaogang also shared some views with us.

When it comes to AGI, we can’t help but mention the hottest Chat GPT, the new GPT-4o, which combines large language model with multimodal, leading the development of the whole industry. However, behind the success, it is also the common progress of many top technology companies. Microsoft has provided a large-scale hardware and software infrastructure for Open AI, and Google has been studying related basic algorithms and Transformer neural network models for many years.

"Shang Tang Ruying Digital Human Video Generation Platform"

Although there are endless large language models and related applications in China, most of them are not original, and they are likely to fall into the embarrassing situation of "the price is getting lower and lower, but the core technology is progressing slowly".

Therefore, the development of large-scale models should not be rushed to commercialization, but should focus on improving their own capabilities. The key to the future lies in the joint training of multimodal data, which requires cooperation in many fields such as physics, psychology, cognitive science, data science and mathematics. Diversified data will help balance prejudice, reduce illusions and make large models more stable and reliable.

"Language model is a hot topic in recent two years"

At present, Open AI has made some progress in the fusion training of multimodal data such as video, pictures, voice and text. Although low latency and bionic interaction are only appearances, there is a prototype of AGI behind it. The realization path of AGI depends on the quality and diversity of training data, and the alignment and fusion of multimodal data in high-dimensional space is the biggest technical difficulty at present. The development of AGI needs not only technology, but also faith and love. China’s AGI needs its own Oppenheimer. Enterprises should focus on improving core competitiveness and technical originality, instead of falling into price war, so as to promote the long-term development of China’s AGI.

"Shang Tang has always insisted on technological originality."

Shang Tang has been insisting on technical originality step by step, which is why Shang Tang can stand out among so many companies related to artificial intelligence. As early as 2014, Shang Tang team released the DeepID series face recognition algorithm, which exceeded the human eye recognition rate for the first time, and even surpassed the DeepFace algorithm released by Facebook at the same time, achieving a breakthrough from 0 to 1.

"Team Shang Tang stands out among a number of artificial intelligence companies in China."

In 2018, Shang Tang started the research on the big model. At that time, there was no infrastructure that could provide enough computing power, not even the top domestic Internet companies Ali and Tencent. Shang Tang started the infrastructure construction in Shanghai Lingang, and the AIDC artificial intelligence computing center was laid out in advance for the future AI cloud computing and cloud services. With its own large-scale infrastructure, Shang Tang can develop in the industry more easily.

"AIDC artificial intelligence computing center is located in Shanghai Lingang"

In 2023, end-to-end technology became the key word of the industry with Tesla’s release of FSD V12, but as early as 2022, Shang Tang released end-to-end technology and said that end-to-end is the future. Recently, the multimodal explosion of GPT-4o is not a new technology for Shang Tang, and it has been studied and put into use for many years. Not long ago, SenseChat V5 of Shang Tang set a new record for SuperCLUE with a total score of 80.03, and surpassed GPT-4-Turbo-0125 in Chinese comprehensive score. This is the first time that a large domestic model has surpassed GPT-4 Turbo to reach the top in the Chinese benchmark test of SuperCLUE.

SenseChat V5 in Shang Tang has set a new record for SuperCLUE in China.

Shang Tang has always insisted on the originality of AGI-related technologies, and has come to the forefront of the world. Wang Xiaogang believes that homogeneous competition will lead to waste of resources, and originality is the source power to promote the development of global artificial intelligence industry. Of course, originality also means more uncertainty and greater risks, but if it succeeds, the breakthrough will be huge for the whole industry, which is what Shang Tang wants to achieve.