Silver hair economy, financial "window"?

On January 5th, the executive meeting of the State Council was held to study the policy measures to develop the silver-haired economy and enhance the well-being of the elderly. The meeting emphasized that developing the silver-haired economy is an important measure to actively cope with the aging population and promote high-quality development, which is beneficial to both the present and the long-term.

The central financial work conference held at the end of October last year mentioned doing five major articles well, and pension finance is one of them.
The Central Economic Work Conference held in December last year proposed to develop the silver-haired economy, "speeding up the improvement of the birth support policy system, developing the silver-haired economy and promoting the high-quality development of the population."
A series of policies all point to the silver-haired economy. Is there any reason for financiers not to act?

The central bank bears the brunt of its efforts.

Recently, when reviewing the work in 2023, the central bank said that in 2023, the People’s Bank of China continued to increase financial support for the aged.
There are three specific contents:Guide banks to make good use of special refinancing loans for inclusive old-age care and strengthen financial support for old-age care services. The data shows that by the end of the third quarter of 2023, banking financial institutions have been supported to provide preferential interest rate loans to 66 inclusive pension service institutions in five pilot provinces such as Hebei.
It is understood that the special re-loan for inclusive old-age care is a special re-loan set up by the People’s Bank of China, and the supporting field of the special re-loan for inclusive old-age care is qualified inclusive old-age care institutions. On April 29th, 2022, the People’s Bank of China and the National Development and Reform Commission decided to carry out pilot projects in some areas.
Strengthen the guidance of credit policy and promote the credit supply of pension industry. According to the data, by the end of the third quarter of 2023, the loan balance of seven big banks, namely China Development Bank, Agricultural Development Bank, Industrial and Commercial Bank of China, Agricultural Bank, Bank of China, China Construction Bank and Bank of Communications, was about 101.2 billion yuan, up 31% year-on-year.
Encourage the upgrading of financial aging services and enhance the inclusiveness of pension finance.. Promote the transformation of bank outlets and mobile clients.
Now, do you often see blood pressure monitors, first aid kits, wheelchairs, reading glasses and other equipment at bank outlets or counters? Among them, there is a little attention from "Yang Ma"!

goldMelting machineConstruct and increase supply

At present, financial institutions continue to introduce financial products for the aged, such as savings, wealth management, trust and Public Offering of Fund.
In terms of personal pension products, according to the catalogue of personal pension products of the national social insurance public service platform, as of January 9, 2024, the total number of personal pension products reached 753. Among them, the number of savings products reached 465, which is the largest number of personal pension products at present; The number of funds is 162, ranking second in total; There are 107 insurance and 19 wealth management respectively.
Here are a few types of pension financial products for you:
Specific old-age savingsThe savings category specially set up for the old-age goal is actually a longer-term fixed deposit, which is divided into different files according to the savings years, and the interest rate is slightly higher than the five-year fixed deposit rate of large banks.
Financial products for the aged, mainly adopts the strategy of multi-asset allocation based on fixed-income assets, which is relatively stable.
Endowment insurance productsThere are many types, and the common types include traditional endowment insurance, dividend endowment insurance, universal life insurance and investment-linked insurance.
Pension trust productsThrough customized services and overlapping trust system design and legal relationship arrangement such as family trust, charitable trust and heritage trust, we will provide all-round and comprehensive services for customers with pension needs.

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Member Chinese People’s Political Consultative Conference and Vice President of south university of science and technology of china Jin Li:
When the age of longevity comes, finance can play an important supporting role in coping with the aging population. It should be noted that the elderly are mostly dependent on property income, and their finances are fragile and sensitive, so they need better financial planning. In addition, with the extension of life expectancy, some elderly people may face the risk of disability and dementia in the future, and further aging transformation of financial services is needed. Furthermore, some private nursing homes run away after misappropriation of funds or even losses, and some financial products related to the elderly are misleading or even fraudulent, which seriously threatens the wealth security of the elderly. Some elderly people have low education level, poor ability to resist financial fraud, and sometimes excessive pursuit of high returns, misleading, leading to heavy losses.
In this regard, we must first strengthen investor education and financial planning for the elderly to help them enhance their risk awareness; Secondly, according to the characteristics of pension finance, products with low and medium risks, stable returns, long term and both savings and insurance functions should be created in a targeted manner, and the state provides tax incentives and minimum return insurance. Thirdly, in view of the problem that some elderly people’s children with mental deterioration or mental disabilities lack financial decision-making ability, we can learn from international experience, establish and improve the financial service entrustment system and the major contract review system, and create a stable long-term plan for them. Finally, it is suggested to regulate the use of funds through bank custody accounts to ensure the safety of pension investment.
Dong Ximiao, Principal Investigator of Zhaolian:
To implement the spirit of the State Council executive meeting and other related meetings and develop the silver-haired economy, both policies and markets are essential. On the one hand, the government should protect the basics and take the bottom line, and strengthen the basic guarantee; On the other hand, by making good use of the market mechanism, all kinds of business entities, including financial institutions, should give full play to their respective advantages to meet the diversified needs of silver-haired groups.
For financial institutions, they should focus on the long-term development of the pension market, optimize the allocation of financial resources, accelerate the innovation of products and services, strive to seize business opportunities such as asset management, custody, deposit and insurance, and tap indirect business opportunities such as account, card issuance and settlement. From the perspective of organizational structure, qualified financial institutions can set up a pension finance department, or set up a franchise institution for pension financial services, such as setting up a pension management company, to enhance the professional service ability of finance in the pension field. At the same time, we should constantly strengthen and improve the education of financial consumers, popularize financial knowledge in an appropriate way, strive to improve the financial literacy of silver-haired people, and enhance their awareness and ability of risk prevention.
Xiaobian Tip: Each type of pension financial products has its own unique advantages and disadvantages and suitable investment groups. For details, please consult professional financial institutions!
In addition, what other pension financial products do you know? Welcome to share them with you in the message area!

Everyone is watching.

This systemically important bank welcomes the new chairman!
Ma Linbo, who was prosecuted, was involved in Taiwan Province, and the Ministry of Commerce responded, and was fined 85.7 million yuan! The former chairman was banned from the market for 10 years ◆ There was another earthquake of magnitude 6.0 in Japan.
"Flowers" is a hit, and banks appear in the list of "special thanks"

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Central Meteorological Observatory: A new round of cold air strikes, and the south will welcome the strongest rainfall since the flood season.

Source: Xinhuanet
Although it has been in long summer, the cold air in China is still active recently. The reporter learned from the China Meteorological Bureau that from May 9 to 13, the north was disturbed by cold air, but the southern part of the Yangtze River and southern China will experience the strongest rainfall since the flood season this year. This process has the characteristics of long duration, large accumulated rainfall and fierce local rainfall.
The heavy rainfall in the south is ready to go, and the north is full of coolness. How to strengthen disaster risk prevention? Does it have an adverse effect on spring ploughing and sowing? Chen Tao, chief forecaster of the Central Meteorological Observatory, interpreted this.
Long-term confrontation between cold and warm air leads to long rainfall time and heavy rainfall.
According to the forecast of the Central Meteorological Observatory, it is predicted that the rainfall in the southern region will increase in the coming week. Among them, from May 9 to 13, southern Jiangnan and southern China will experience the strongest rainfall since the flood season this year. There will be heavy rain in most areas south of the Yangtze River, heavy rain in parts of South China and South Jiangnan, and heavy rain in Guangdong and Guangxi. These areas are accompanied by strong convective weather such as short-term heavy precipitation, thunderstorms or hail.
Chen Tao said that the strongest rainfall period in the process will occur from 10th to 12th, with precipitation concentrated in southern Jiangnan and southern China, and the daily rainfall at individual stations in Guangdong and Guangxi may reach historical extremes.
The main reasons for the heavy rainfall process in the south are: first, the subtropical high in the western Pacific is stable, the warm and humid airflow at its western edge and the cold air in the north continue to meet in Jiangnan and South China, and the cold and warm air confront each other for a long time, which leads to the long duration of the rainfall; Second, the southwest water vapor transport in the lower atmosphere in southern China has been significantly enhanced recently. Affected by the cyclone storm in the Bay of Bengal, it is more conducive to the water vapor transport to the south of China and provides sufficient water vapor conditions for this rainfall.
When the south enters rainy season, the risk of disaster is increased and attention is paid to prevention.
Affected by continuous heavy rainfall, the meteorological risk of mountain torrents and geological disasters in eastern and northern Guangxi, central Guangdong, southwestern Fujian, southwestern Jiangxi and southern Hunan is high; The meteorological risk of floods in small and medium-sized rivers in central Guangdong and eastern Guangxi is high. Chen Tao suggested that the above areas should pay attention to prevent the meteorological risks of mountain torrents, geological disasters and floods in small and medium-sized rivers that may be caused by heavy rainfall.
In addition, according to the forecast of the National Climate Center, this year’s South China Sea summer monsoon will break out in the third season (10th to 15th) in May, slightly earlier than normal (4th season in May), and its intensity is close to normal to weak. Under normal circumstances, within two weeks after the onset of the South China Sea summer monsoon, the monsoon airflow will carry more abundant southwest warm and humid water vapor from the tropical Indian Ocean and the South China Sea to the East Asian continent, and the convective heavy precipitation in the southern region will increase significantly, and the southwest rainy season and plum rain will begin one after another.
Therefore, when the south enters a rainy period, the risk of disaster increases, and extreme weather may occur, so preparations for disaster prevention and relief should be made in advance. Chen Tao said that the public should pay attention to the rolling meteorological forecast and early warning information released by various places and try to avoid going out during periods of heavy rainfall and strong convective weather.
Cold air affects frequently, and many places in the north are full of coolness.
Although long summer has passed, cold air is still active recently. Under the influence of cold air, the temperature in many places in North China Plain in these two days was obviously lower than that in the same period of normal years. On the morning of May 8, affected by cold air and rainfall, the temperature in Beijing, Shijiazhuang, Hebei and other places hovered at 10 degrees Celsius, and the body felt cold.
The Central Meteorological Observatory predicts that there will be a strong cold air activity in northern China from 10th to 12th. By then, the temperature in Inner Mongolia and most parts of northwest, northeast and north China will drop by 4 to 8 degrees Celsius, and the local temperature will drop by more than 10 degrees Celsius, accompanied by northerly winds of 4 to 6, and gusts of 7 to 9. Chen Tao said that due to the frequent influence of cold air, the temperature in many places in the North China Plain will continue to be low in the coming week, reminding the public to appropriately increase clothes according to the temperature forecast.
In addition to the strong wind cooling, some areas in the north will be accompanied by precipitation weather, and there will be small to moderate rain or thunderstorms and local heavy rain in Inner Mongolia and northwest, north China and northeast China. Low temperature combined with rainfall leads to lower somatosensory temperature.
Spring ploughing and spring sowing are generally smooth, and cooling and precipitation temporarily hinder the process.
Since spring sowing, the weather has been good in most parts of the country, which is conducive to the development of spring ploughing and spring sowing. At present, the progress of spring sowing of grain crops in China has been more than half, faster than the same period last year; Among them, the sowing and planting of early rice has ended, with more than 80% of spring wheat, 70% of spring corn and 20% of soybeans, and the overall progress is smooth. Cotton, spring corn, soybean and one-season rice in Xinjiang, North China, Huanghuai and other places are still being planted.
The process of precipitation cooling in central and eastern China from 9 to 13 is beneficial to supplement soil moisture in northern China, but the spring sowing operation will be temporarily blocked due to precipitation. The average temperature in the northern part of Northeast China, northern part of North China, eastern Gansu, central Shaanxi and other places is below 8 degrees Celsius, and the sowing of dryland crops such as corn and soybeans is suspended, and the germination rate of sown crops is slowed down.
Chen Tao suggested that the northeast region should avoid cooling and windy periods as much as possible, and plant seeds in time according to moisture and temperature changes. In areas with wet soil, pay attention to stepping up moisture removal after the weather improves; For the sown crops in dry land, attention should be paid to field inspection, and remedial measures should be taken in time once powder seeds are found; It is not advisable to transplant rice seedlings early in rice planting areas, pay attention to regulating the temperature and humidity in the seedling shed, and do a good job of wind protection and reinforcement. Areas that have not yet completed the sowing plan should seize the favorable weather, sow while the soil moisture is growing, and speed up the progress of spring sowing. Do a good job in seedling management of sown fields, and check and replenish seedlings in time.
For the southern region, heavy rainfall and strong convective weather are easy to cause rice lodging and short-term waterlogging in farmland, which is not good for harvesting and drying rape in southern Jiangnan. All localities need to clean ditches in time to ensure smooth drainage and reduce the impact of waterlogging.
Producer: Zhu Yonglei and Qiu Xiaomin
Planning: Li You
Reporter: Yu Ziru Wang Meili
Video shooting and production: Chen Zheng Zhang Yubo
Editor: Yang Liu
Xinhuanet and China Meteorological Network jointly produced.
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Preventing and resolving financial risks has achieved initial results, and city commercial banks are stable and far-reaching

CCTV News:Preventing and resolving financial risks is the top priority of China’s financial supervision in recent years. Some city commercial banks, which are based in cities and mainly provide loan support for small and medium-sized enterprises, once experienced a situation of high non-performing loan ratio and unsustainable operation due to insufficient financial strength and low market risk tolerance. Local governments and financial supervision departments took a series of innovative measures in time, which successfully resolved the risks.

Liangshan Yi Autonomous Prefecture, located in the southwest of Sichuan Province, is rich in local mineral resources and has nearly 1,000 large and small mining enterprises. In 2014, in the last round of market volatility, the price of iron ore once dropped by 50%, and local mining enterprises were in trouble, and this risk was also transmitted to the financial system.

Lu Ningyuan, head of Liangshan Branch of Sichuan Bank and former vice president of Liangshan Commercial Bank:The vast majority of mining-related enterprises are in trouble, the interest on bank loans cannot be paid, the loans due cannot be repaid, and a large number of non-performing loans (loans) have also appeared in the loans of mining-related enterprises of the former Liangshan Commercial Bank.

Established in 2007, Liangshan Commercial Bank covers 17 local counties and cities. Among its total loans, loans from mining-related enterprises account for a relatively high proportion. This kind of loan structure is in western Sichuan, not only Liangshan Commercial Bank. Almost at the same time, Panzhihua Commercial Bank also experienced a crisis. As a shareholder of Panzhihua Commercial Bank, Luo Yangyong keenly felt that there were problems in bank operation.

Luo Yangyong, Chairman of Anning Iron and Titanium Co., Ltd.:When dividends were gone, bad debts and bad debts gradually increased. Other indicators have also deteriorated seriously, and we feel that the investment will fail, and it is estimated that we will lose all our money. All the shareholders are worried, but they are helpless and don’t know how to do it.

It never rains but pours. The guarantee company, which should have provided guarantee for the mine-related enterprises in the loan process, has not played its due role.

Today, many parties admit that in this process, banks themselves also had problems such as inadequate risk management and control. When the risks were exposed, even though Liangshan Commercial Bank and Panzhihua Commercial Bank, two city commercial banks, took various measures to deal with non-performing assets to resolve the risks, the non-performing assets continued to climb. By 2019, the total balance of non-performing assets of the two banks will be nearly 30 billion yuan. Among them, the non-performing loan ratio of Panzhihua Commercial Bank was as high as 53.4%, while the average non-performing loan ratio of 134 city commercial banks nationwide was only 2.3% in the same period.

Nearly 30 billion yuan of non-performing assets and more than 50% of non-performing loan ratio, once not properly disposed of, the consequences are unimaginable. Faced with such a huge challenge, the Sichuan provincial government and financial supervision departments decisively intervened, merged two high-risk municipal city commercial banks and established a new provincial bank.

As the chairman of Sichuan Bank, Lin Gang participated in the risk resolution of Liangshan Prefecture Commercial Bank and Panzhihua Commercial Bank and the establishment of Sichuan Bank. He told reporters that the working group faced many difficulties as soon as it was established in 2019.

Chairman of Sichuan Bank Lin Gang, former director of Sichuan Bank’s preliminary work promotion group office:The first is the problem of how to resolve and digest the bad assets of these institutions on such a large scale.

After a thorough investigation of non-performing assets, in February, 2020, the Working Group launched a 60-day battle to clear and close non-performing assets in Panzhihua, Chengdu and Liangshan.

Zheng Ye, President of Sichuan Bank and former Deputy Director of the Office of the Pre-work Promotion Group of Sichuan Bank:It is very, very difficult to collect interest from one household, collect the bad loans they owe, and increase the collateral of loans from one household to another.

While collecting and transforming some non-performing assets, the working group adopted the strategy of digesting part of the old shareholders’ equity at a discount, keeping part of the books, packaging and stripping part, and the new shareholders taking part. With the decrease of non-performing assets, a more intractable problem has surfaced.

Zheng Ye, President of Sichuan Bank and former Deputy Director of the Office of the Pre-work Promotion Group of Sichuan Bank:In the bank, the shareholder himself has a record of breaking the law and needs to be cleaned up. If the shareholders have non-performing loans in the bank, you can either pay off the principal and interest of your non-performing loans or pay off your shares to repay the non-performing loans. There is another problem: the shareholder’s loan exceeds the requirement of regulatory concentration, and he should also bear the responsibility and correct it.

With the vigorous promotion of local government departments, the two banks cleaned up and rectified 258 old shareholders. In order to prevent the same problem from appearing again, the supervision of the new shareholder team must also keep up. The working group hired external professional institutions to formulate strict plans for the bank’s internal processes and governance structure.

Wu Weijun, Vice Chairman of Deloitte China:As a shareholder of a bank, I have a responsibility, not to say that this bank is mine, so I can trade at will. Any shareholder’s transaction with the commercial bank he has invested in is a related party transaction from the perspective of our accounting, and it should be disclosed. In this risk prevention, we signed an agreement with shareholders to follow the regulatory requirements.

The newly established Sichuan Bank has a registered capital of 30 billion yuan, and the share price is 1.3 yuan/share, of which 1 yuan/share is the share capital and 0.3 yuan/share is the premium fund, and the premium part is specially used for the disposal of non-performing assets. At that time, the valuation P/B ratio of listed banks in China was around 0.8, and the P/B ratio of Sichuan Bank was 1.3. It was a great challenge for the working group to raise enough funds.

Chairman of Sichuan Bank Lin Gang, former director of Sichuan Bank’s preliminary work promotion group office:At that time, to be honest, we were all worried about the uneven fundraising. In the end, the capital raised was about 34.8 billion yuan, and 4.8 billion yuan was returned. Some shareholders did not come in. Sichuan Financial Holdings, as the main sponsor, holds a lot of 20%, a few percent and a few percent. Therefore, from the perspective of the market dispersion of shareholders, it should be said that it is more reasonable.

On November 7, 2020, Sichuan Bank opened its doors for business. After two years of risk mitigation, it achieved initial results.

Chairman of Sichuan Bank Lin Gang, former director of Sichuan Bank’s preliminary work promotion group office:From the quality of its assets, the non-performing (loan ratio) has dropped from the original high to about 2.08% at the end of April, and our goal is to drop below 2%, so I think this is a very, very good thing.

The establishment and steady operation of Sichuan Bank has explored a new path for the regulatory authorities and local governments to resolve the operational risks of city commercial banks, and Shanxi and other places are also resolving the risks of city commercial banks through similar models.

On April 28th this year, Shanxi Bank officially opened to the public. Shanxi Bank was formed by the merger of five original city commercial banks: Datong Bank, Changzhi Bank, Jincheng Bank, Jinzhong Bank and Yangquan City Commercial Bank.

Ceng Gang, Deputy Director of National Finance and Development Laboratory:It is not a simple merger. During the merger process, it has a lot of institutional mechanism optimization to enhance its long-term development ability. In fact, it is not only capital injection, but also wisdom injection, so as to improve the management ability and management concept.

According to industry insiders, there are currently three main modes for risk resolution of city commercial banks — — Bankruptcy, short-term rescue and merger and reorganization have indeed played a role in stabilizing local economic development and maintaining the stable operation of the financial system.

Xing Guijun, Director of China Banking and Insurance Regulatory Commission City Banking Department:After more than three years of efforts, the risk preference of city commercial banks has been gradually revised, the extensive business model has been gradually reversed, the business behavior has become increasingly standardized, the risk level has continued to converge, and it has gradually changed to high-quality development.

In addition to resolving risks of city commercial banks, rural commercial banks and high-risk trust institutions, China Banking and Insurance Regulatory Commission has made positive progress in dismantling high-risk shadow banks and strengthening credit risk prevention and control. From 2017 to 2020, the cumulative disposal of non-performing loans was 8.8 trillion yuan, exceeding the sum of the previous 12 years, and the scale of shadow banking dropped by about 20 trillion yuan compared with the historical peak.

Liang Tao, Vice Chairman of China Banking and Insurance Regulatory Commission:A number of city commercial banks and rural commercial banks have made positive progress in risk resolution. At the end of the first quarter (2021), the balance of non-performing loans in the banking industry was 3.6 trillion yuan, and the non-performing loan ratio was 1.89%, down 0.02 percentage points from the beginning of the year.

The Central Meteorological Observatory issued a blue warning of cold wave, strong cooling, strong winds and dust.

  Cctv newsThe Central Meteorological Observatory issued a blue warning of cold wave on the morning of March 10th. Due to the influence of cold wave, it is estimated that the temperature in most areas of central and eastern China will drop by 6 ~ 10℃ from 10th to 12th, and the temperature in Inner Mongolia, North China, Huanghuai and eastern Jianghuai will drop by 12℃, partially exceeding 16℃. There are 4 ~ 6 winds and 7 ~ 9 gusts in the above areas, and 6 ~ 8 winds and 9~11 gusts in most offshore areas of China.

  The live monitoring shows that the temperature in North China and Huanghuai has risen rapidly in the daytime recently. Yesterday, the highest temperature in Shahe, Hebei Province reached 32.1℃, ranking first in the national meteorological observatory. At the same time, Zhengzhou (30.8℃) and Shijiazhuang (30.3℃) are also the first northern capital cities to break through 30℃ this year.

  Meteorologists reminded that before the arrival of the cold wave, the effect of "warming before the front" in the central and eastern regions was very obvious. Today, during the day, the temperature in some areas of Hebei, Shandong and Henan may still exceed the 30 C mark, but with the arrival of the weekend, the strong cooling will quickly cover most areas north of South China, especially the maximum temperature will drop sharply; The lowest temperature in this cold wave occurred on the morning of 13th, and the lowest temperature line of 0℃ will be located in the south of Shaanxi, the west of Henan, the south of Hebei and Tianjin, and the lowest temperature in the east of Shandong and the northeast of Jiangsu will also reach about 0℃. Please ask the public to add clothes in time and take good measures to prevent cold and keep warm.

  In addition to strong winds and cooling, there will be dusty weather in the northwest and north China today and tomorrow. The Central Meteorological Observatory continued to issue a blue warning of sandstorms on the morning of the 10th. Today, from day to night, some areas in eastern and southern Xinjiang, western Gansu, most of Inner Mongolia, Ningxia, north-central Shaanxi, Shanxi, north-central Hebei, Beijing and other places have sand or floating dust weather, and some areas in central Inner Mongolia have sandstorms.

  In addition, there will be obvious snowfall and local blizzard in the northwest of Heilongjiang and northeast of Inner Mongolia; There is rainy weather in most parts of the south, and the cumulative rainfall in some parts of the south of the Yangtze River can exceed 50 mm. Please pay close attention to the weather forecast and early warning information released by the local meteorological department, and pay attention to prevent the adverse effects of slippery roads and icing caused by rain and snow on traffic.

Wang Chen: My heart is still China’s heart.


  "The change of a paper’s nationality will never change the strong flavor of Beijing in me, or the fact that I was cultivated by China. My heart is still China’s. The Beijing Olympics is the pride of Chinese people all over the world. I wish Beijing well and cheer for the Olympics. " -Wang Chen


  BEIJING, Aug. 5 (Xinhua) According to the American Overseas Chinese Weekly, the American Olympic Committee recently announced a list of events to participate in the Beijing Olympic Games. In the list, five Chinese athletes were selected, including China-born table tennis player Wang Chen, which attracted the attention of many table tennis fans and people familiar with Wang Chen.


  Anyone familiar with table tennis knows Wang Chen’s position in China’s national women’s table tennis team in the last few years of the last century. Wang Chen has won nearly 30 women’s singles titles in her career, including professional tour, Asian Cup and World Table Tennis Championships. Among them, in 1997, Wang Chen won the women’s team championship for three consecutive times in cooperation with Deng Yaping, Wang Nan, Li Ju and Yang Ying at the 44th World Table Tennis Championships held in Manchester, England. Wang Chen, who became famous in the early 1990s, was once regarded as the most potential newcomer of China team after Deng Yaping and Qiao Hong. She is one of the few tall players in the China team. She has defeated all the first-team players such as Deng Yaping and Qiao Hong, and has maintained a technical advantage over the younger generation of players Wang Nan, Li Ju and Yang Ying for a long time.


  Now, as a Chinese athlete, a former world champion, a former main member of China’s national table tennis team and now a main member of the American women’s table tennis team, Wang Chen has been selected as the American Olympic delegation and will soon participate in the 2008 Beijing Olympic Games.


  At present, Wang Chen runs a table tennis club named after himself in the Upper West Side of Manhattan, new york. I have obtained the qualification to represent the United States in the Olympic Games held in Beijing. Wang Chen said indifferently that he was lucky to realize his Olympic dream at the age of 34. For the 34-year-old Wang Chen, this will be her last fight in the international table tennis competition, and it will also be a perfect curtain call for her personal career. With many questions about the former national player’s naturalization in the United States and curiosity about the eight-year struggle history of the United States and the story of Beijing’s Olympic dream, the reporter came to the table tennis club in Wang Chen as promised.


  At 1 o’clock in the afternoon, it was the time for lunch and lunch break, and he came to a small office of the table tennis club named after him. At this time, Wang Chen was being interviewed by local news media in new york. After our interview was delayed for about 15 minutes, Wang Chen appeared in the reporter’s field of vision.


  Olympic dream of Beijing


  Talking about the Beijing Olympic Games, Wang Chen seemed very excited and excited. "It is a rare opportunity for every athlete to get tickets for the Olympic Games, and this Olympic Games is held in Beijing, so I will take part in whatever I say," Wang Chen told reporters with a smile.


  In order to compete for the Olympic qualification, Wang Chen traveled around the world nonstop to participate in various tournaments to collect points. According to the regulations of ITTF, the top 20 athletes in the world will automatically get seats in the Olympic Games. Wang Chen is currently ranked 29th in the world, but Wang Chen can be ranked 14th because of the rule that only two players can be submitted by one country. From this, Wang Chen automatically won the seat of the Olympic Games.


  Regarding getting a seat in the Olympic Games, Wang Chen said that he has been an athlete for most of his life and has never let go of his love for table tennis. It is his first time to participate in the Olympic Games and he is really excited to return to his hometown. At the same time, Wang Chen also feels lucky.


  During Wang Chen’s eight years in the United States, Wang Chen not only didn’t give up table tennis, but also worked harder than before. She changed her raw rubber playing method to two-sided anti-rubber attack to give full play to her height and arm length. Tactics have obviously become more flexible than before, and the murderous look has also increased. She has won the women’s singles championship in the North American Championship for the United States many times.


  From 1993, 19-year-old Wang Chen made a blockbuster in the women’s singles final at the Seventh National Games, competing with Deng Yaping, who was in full swing at that time, to now representing the United States in the Beijing Olympic Games. After 15 years of table tennis career, Wang Chen finally realized his life wish and participated in the Olympic Games this summer.


  My heart is still China’s heart


  When it comes to the "Overseas Corps", which is controversial by Chinese people, as one of them, Wang Chen didn’t feel embarrassed. Wang Chen said that it was only his love of table tennis that kept him going. At present, the women’s team in China has particularly advanced technology, so it can’t pose a threat to the women’s team in China in the Olympic Games to switch to other national teams after retiring from China. In fact, in recent years, the "Overseas Corps" has never posed a direct threat to the China table tennis team’s gold medal, and the Chinese people have lost a lot of criticism.


  What will happen when the reporter puts forward the assumption that he will meet China athletes at the Beijing Olympic Games? Wang Chen said that table tennis has already transcended national boundaries, and in recent years, he has returned to China from time to time to compete, learn from each other and practice with China team members. Everyone has a deep friendship with each other. Ask again, if you meet China athletes during the Olympic Games, will your heart change? She said, "After all, this year’s Olympic Games will be held in Beijing, and the atmosphere will naturally be very warm. However, every time I meet a player from China, my hands are tight and I am easily influenced and distracted by the audience. It is possible that my heart is still because of China’s heart. "


  When it comes to the prospect of Olympic achievements, Wang Chen seems very calm. Wang Chen said that in the United States, unlike China, there is systematic training and preparation for war, and it can only be self-reliant. She now represents the Dutch club in the European League and warms up for the Olympics through the competition. Speaking of the event, Wang Chen said that the Olympic women’s table tennis singles competition is a strong dialogue, without high expectations, and it is a fight. As for the women’s team, the US team is still promising to compete for medals. After all, there are two people, Gao Jun and me. Except for China, no team can guarantee to win both of us.


  Wang Chen is very excited about returning to Beijing. She said that Beijing now is very different from Beijing where she used to live, and every time she returns to Beijing, she is very novel and excited. The change of my own nationality will never change the strong smell of Beijing in me, or the fact that I was cultivated by China. My heart is still China’s. Beijing Olympic Games is the pride of Chinese people all over the world. Bless Beijing and cheer for the Olympic Games.


  Sweet and sour, eight-year trip to America


  In 1999, Wang Chen, who was only 25 years old, chose to retire because there was no more room for promotion and development in the women’s table tennis team in China. In the year after retiring, she has not found a suitable way out for various reasons. At that time, my sister was running a fur business in New Jersey, USA. With her sister’s help, she applied for special talents to immigrate to the United States. Now Wang Chen’s sister has returned to China to settle down, while Wang Chen has stayed in the United States to develop. 


  Wang Chen said frankly that when he first came to the United States, he wanted to give up the cause of table tennis completely, engage in a brand-new job and create a new future. Later, it was found that there are many die-hard fans and fans of table tennis in the United States, many of whom are Americans and many immigrants. One of the die-hard fans is Jerry, the owner of her current club? Jerry Wartski. Jerry also completely changed the fate of Wang Chen.


  Jerry, 77, is a big fan of table tennis. Engaged in real estate work in new york in his early years. In 2002, when Wang Chen began to teach Jerry, Jerry already owned a table tennis club on the Upper West Side of Manhattan, new york, and later named it after Wang Chen.


  Knowing Jerry can be said to be a turning point in Wang Chen’s life in America. When I first arrived in new york, Wang Chen once offered to work as a temporary worker for Jerry, with an income. Jerry sternly refused. He said, "No, you are a China champion, an American champion or a world champion. I can’t let you be a temporary worker. You must stay in the arena." To this, Wang Chen is very emotional. She said that Jerry gave me a platform to continue my favorite table tennis career in the United States.


  Through several years’ hard work, Wang Chen Table Tennis Club has become more and more famous in Manhattan, and many celebrities include Keanu, the hero of The Matrix. Reeves and mcenroe, the "bad boy" in tennis, are frequent visitors to Wang Chen Table Tennis Club. For the present results, Wang Chen did not show pride. She said that I have learned a lot from eight years of living in the United States, which is my greatest gain.


  Love in the swimming pool


  Zhou Yue, Wang Chen’s husband, is a native of Xi ‘an. He studied in Xi ‘an Institute of Architecture and Engineering, and now he is studying for a master’s degree in environmental engineering at Columbia University, and has passed the examination of a professional certified real estate appraiser in the United States.


  She met her husband Zhou Yue in the swimming pool of Columbia University. At that time, I often went to Columbia swimming pool to practice because I couldn’t swim. One day, I felt that I could never teach myself. I had to ask someone else. I found a man who was very proud of breaking waves in the water. I thought, why don’t you ask him? So I swam over, and the first thing I asked him was, "Do you speak Mandarin?" He stood in the water and said, "I’m from mainland China and Xi ‘an. I also taught myself from teaching CDs." Then we started talking. Slowly, our contact will be more, and the circle of Columbia University is very small, so we will get familiar with each other when we get together frequently.


  In July, 2004, at the US Open, Zhou Yue rushed to watch the game in Wang Chen, and Wang Chen lived up to expectations and won the women’s doubles championship with Liu Jia, the former sister of the Beijing team. A few months later, Zhou Yue took out a carefully selected Tiffany diamond ring worth more than 6,000 US dollars and formally proposed to Wang Chen. Both parents were quite satisfied with the background and personality of the two young people. Soon after, Wang Chen and Zhou Yue registered to get married in new york.


  After eight years of ups and downs, Wang Chen has gone through years with great difficulties. Besides Wang Chen’s own hard work. In the United States, Wang Chen is lucky. With table tennis as a link, she has been helped by good people from different classes. (Zou Bin)

Editor: Lu Wei

The price of cherries has been halved, and the "traffic star" has begun to be close to the people?

  Dajiang Net/Dajiang News Client News All-Media ReporterXie Mengli, internZhang Pingting, Zhang YingReport: With the coming of winter, "cherry freedom" has once again appeared in people’s field of vision, and cherries and strawberries known as "high-end fruits" have become the "signature fruits" of many fruit shops. In particular, the terms "the price of cherries was halved" and "the price of cherries finally began to fall" were once rushed to the hot search, causing widespread discussion among netizens.

  Have Nanchang people really achieved fruit freedom this winter? What is the price of cherries in Nanchang market? In this regard, the reporter visited.

  The price of cherries varies from store to store.

The cherries sold by Shangchao

  On January 8, the reporter went to a large supermarket chain on Zhongshan Road and saw that people came and went in the fruit area, and many customers bought all kinds of fruits. As a popular fruit in the season, cherries are filled with two stalls, from one J to four J’s, from 500 grams to exquisite gift boxes, all kinds and dazzling. As can be seen from the price tag, two J cherries imported from the supermarket are priced at 69.9 yuan per catty, while three J cherries from Chile are 79 yuan per catty. "This cherry is still quite expensive. If I buy it in Pinduoduo, it is about 5 kg, which is about 150 yuan, but the imported one is more expensive." Grandma Yang, who is shopping, told reporters.

  Compared with the price of large supermarkets, the cost performance of street fruit shops and farmers’ markets seems to be higher. During a visit to a fruit shop in donghu district, the reporter found that two J cherries were 58 yuan per catty and three J cherries were 68 yuan per catty. According to the owner, Mr. Huang, compared with the end of last year, cherries of different qualities have dropped by 10 yuan to 20 yuan per catty. "It’s cheaper to buy cherries with three J’s like this pure Bing3 together, as long as it’s 298 yuan a box, and it tastes like a stone, so crisp and sweet, and there is more water." The owner enthusiastically introduced.

  At the farmer’s market not far away, Mr. Liu, the stall owner, told reporters that two J cherries were in 120 yuan at the end of last year, and this year, as long as they are 63 yuan per catty, they are nearly half cheaper.

  There is little difference between online and offline prices.

The cherries sold in boxes.

  Subsequently, the reporter saw on the major e-commerce platforms that all online shopping of cherries can be reached the next day, and the price is distinguished by J number, which is not far from the price of offline fruit shops. The more you buy, the more favorable the price is, usually starting from 2 kg.

  On another e-commerce APP, the discount is even stronger. The price of three J imported cherries is 198 yuan per catty, and each person is limited to 2 pieces, which is still in the replenishment state.

  Overall pricewhyDescending?

  Compared with the average price of cherries in 120 yuan per catty at the end of last year, supermarkets, fruit supermarkets and farmers’ markets all showed a certain downward trend. Just listed for about a month, the price was greatly reduced. What makes the value of "traffic star" half off?

  "This is of course related to everyone’s needs. When cherries first came out, more people bought them. Most of the domestic cherries have not yet reached the season. Although imported cherries are fast but costly, they are naturally more expensive." A boss who has been doing fruit wholesale all the year round tells the reason. It said that the quality and price of cherries are different due to different places of origin. "Every time cherries are popular in winter, imported cherries with high cost and fast air transportation are more circulating in the market, while the time to market for domestic cherries in China is often spring and summer, so at the end of the year, demand is often in short supply and the market selling price is generally high. With the recent large-scale listing of cherries by sea, the transportation price is lower, and a larger number of cherries flow into the market, and the relationship between supply and demand changes accordingly. It is not surprising that there is a phenomenon of’ price cuts’. "

  Although the price of cherries has gradually become popular with the people, there are certain differences in the selling price of cherries of different sizes, grades and places of origin in the market, and the price difference between each grade is quite large. Many fruit shops also remind them to be vigilant and cautious when buying, in order to prevent merchants from shoddy, filling small with large, and buying rationally.

As the New Year approaches, these important new regulations will be implemented on New Year’s Day.

    Xinhua News Agency, Beijing, December 31st Question: When the New Year arrives, these important new regulations will be implemented on New Year’s Day.

    Xinhua News Agency reporter Bai Yang

    With the New Year’s bell ringing, a number of important new regulations have been implemented since New Year’s Day. Promote patriotic education with the power of the rule of law, comprehensive legislation for the protection of minors’ network will help teenagers grow up healthily, and new regulations for drug management and use will protect your life and health … A brand-new year of 2024 will usher in a new atmosphere of the rule of law.

   Guarantee and promote patriotism education to be widely, deeply, persistently and effectively carried out.

    The Law of People’s Republic of China (PRC) on Patriotism Education came into force on January 1, 2024, ensuring and promoting the extensive, in-depth and sustained and effective development of patriotism education.

    According to this law, the main contents of patriotism education cover ideological and political education, history and culture, national symbols, the magnificent rivers and mountains and historical and cultural heritage of the motherland, the Constitution and laws, national unity and national unity, national security and national defense, heroism and deeds of exemplary figures, etc. While providing patriotic education for all citizens, we should give prominence to the education of teenagers and children in schools and families.

    This Law requires making full use of all kinds of resources and various forms to carry out patriotic education, including red resources, cultural relics and historical sites, patriotic education bases and various cultural venues, commendation and awards for meritorious service, various commemorative celebrations, folk cultural activities, ceremonial ceremonies such as hanging the national flag, singing the national anthem and taking the oath of the Constitution, and literary and artistic works, news media and information network platform carriers.

   Create a clear network space for minors

    The Regulations on Network Protection for Minors came into effect on January 1, 2024, which is the first comprehensive legislation on network protection for minors in China.

    The regulations put forward the requirements for personal information processors to strictly set the access rights of minors’ personal information and carry out compliance audits of personal information; Internet products and service providers should establish and improve the early warning, prevention, identification, monitoring and disposal mechanisms of cyberbullying, and set up functions and channels to facilitate minors and their guardians to keep records of cyberbullying and exercise their right to notify.  

   Strengthen the supervision of the whole process of drug management and use.

    The Measures for the Supervision and Administration of the Quality of Drug Trading and Use shall come into force on January 1, 2024.

    Methods Strengthen the supervision of the whole process of drug management and use, further clarify the division of responsibilities of drug supervision departments at all levels, clarify the responsibilities of cross-regional supervision, enrich administrative measures, and clarify the requirements of the connection between execution and discipline.

    The measures stipulate the quality management departments and personnel, storage and maintenance, handling and recall of drug quality problems and drug traceability of medical institutions. Medical institutions and other drug users are required to establish a drug quality management system, which is responsible for the drug quality management in the whole process of drug purchase, storage and use.

   Measures to increase the convenience of administrative reconsideration

    The revised Administrative Reconsideration Law of People’s Republic of China (PRC) shall come into force on January 1, 2024.

    The revised Administrative Reconsideration Law has added a number of convenience measures to provide convenience for the parties to apply for and participate in administrative reconsideration, and to protect the rights of the parties in administrative reconsideration.

    Where an administrative organ serves a written decision on administrative act through Internet channels, it shall also provide an Internet channel for submitting an application for administrative reconsideration. If an applicant refuses to accept the decision on administrative punishment made on the spot or based on the illegal facts recorded by electronic technology monitoring equipment, he may submit an application for administrative reconsideration through the administrative organ that made the decision on administrative punishment.

   Focus on solving the "difficult service" of foreign-related civil litigation cases

    The NPC Standing Committee’s decision on amending the Civil Procedure Law of People’s Republic of China (PRC) shall come into force on January 1, 2024.

    In recent years, the number of foreign-related civil disputes tried by people’s courts has risen rapidly, and the number of cases in which foreign parties voluntarily choose the jurisdiction of our courts is increasing. The revised Civil Procedure Law further improves the relevant provisions on foreign-related service, makes efforts to solve the problem of "difficult service" in foreign-related cases, improves the efficiency of service, and earnestly safeguards the legitimate rights and interests of the parties involved in foreign-related cases; We will improve the judicial assistance system for foreign-related civil cases and add relevant provisions for overseas investigation and evidence collection.  

   Promote the construction of marine environmental supervision and management system

    The revised Marine Environmental Protection Law of the People’s Republic of China shall come into force on January 1, 2024.

    The revised Marine Environmental Protection Law requires that the coastal local people’s governments should be responsible for the quality of the marine environment in the sea areas under their management, implement the target responsibility system and evaluation system for marine environmental protection, and promote the capacity building of marine environmental supervision and management.

    In addition, the system of ecological environment zoning control, comprehensive management of key sea areas, interview and rectification, information sharing, credit evaluation, seizure and detention will be added. Improve the planning, standards, monitoring, early warning, investigation, environmental assessment, emergency and other systems.

"Print+Music" Suzhou people’s nightlife has a new way to open.

  Zhongxin. com, Jiangsu News, December 30 (Zhou Jianlin) On the evening of the 29 th, Suzhou Art Museum was full of youthful atmosphere. When the lights gradually dim, musicians slowly step onto the stage and pluck the strings, and an encounter between printmaking and music opens a beautiful journey.

The concert scene. Zhang Jian photo
The concert scene. Zhang Jian photo

  Recently, the first China Youth Printmaking Biennale is on display in Suzhou Art Museum. More than 230 prints with different styles and different themes fully reflect the diversity and diversity of contemporary youth printmaking art and their enthusiasm and pursuit of artistic creation. In the night, printmaking has become a dazzling stage background for the concert.

  This "Parallel Universe-Classical Chamber Music and Jazz Cross-border Fusion Concert" was specially invited by composer and jazz guitarist Xu Zhihan, jazz pianist and composer, and percussion player Rong Chenchu played in the daytime. This is a young jazz group active on the world stage.

The concert scene. Zhang Jian photo
The concert scene. Zhang Jian photo

  A song "Into To Rivers" brings people peace and reverie. With the progress of the concert, songs such as "Last day All Day", "Journey of Blessing" and "Dust" are constantly touching everyone’s heartstrings.

  "China ancient prints have a long history and reached its peak in Ming and Qing Dynasties. Regardless of printmaking or music, art is often connected. With the changes of the times, art will change from one style to multiple elements, thus making cross-border creation. " Xu Zhihan said that the print works on the spot also added a lot of inspiration to their creation.

  Yuan Xin, who listened to the concert in the art museum for the second time, is a "post-90 s", and Suzhou Art Museum has become her new punching place. "Whether it’s music or painting, it’s all about expressing young people’s truest self-feelings in the present life. It can resonate and cause the greatest interaction. " Yuan Xinxiao said that musical resonance is a new standard for young people to choose a spouse.

  "Art has no boundaries. The Voice-over Series of Philharmonic is an attempt to cross-border and integrate art in Suzhou Art Museum this year. This year, different kinds of concerts such as folk music and western music have been planned one after another." Yang Yi, deputy director of Suzhou Public Cultural Center and deputy director of Suzhou Art Museum, said that it is expected that more and more visitors will enter the art museum to watch art exhibitions and experience concerts, and feel the beautiful life in Suzhou, which will become a new way for them to open up Suzhou nightlife. (End)

Receive relief, be homeless

The United States is not only the largest economy in the world, but also a western country with the most serious polarization between the rich and the poor. For a long time, it can’t get out of the dilemma that the rich get richer and the poor get poorer.
Christmas bells and homeless people
A few days before Christmas, it was cold in new york, USA. On the morning of 23rd, residents went to St. michaels’s Episcopal Church on the west side of Central Park in northern Manhattan. Instead of worshipping, they gathered outside the back door of the church with bags in their hands or shopping carts, waiting for free food and warm gloves, shoes and clothes taken out of the church. Whenever the staff took out some items, the people present rushed to get them into their hands, and the staff had to say loudly, "Learn to share".
The picture shows that on December 24th, in new york, USA, the staff of "new york Public Food Storage Room" distributed free food to the public. Xinhua news agency
On the east side of Central Park, new york Public Food Store, a non-governmental organization there, did not arrange to distribute free food that day, but "regular customers" still came to find out from time to time. After hearing the disappointing news, some people left disappointed, while others kept ringing the doorbell and expected a response.
On the afternoon of 23rd, Jose Aristeo, who was about sixty years old, came here with an empty shopping cart. He told reporters that he had been here once this morning.
The picture shows that on December 24th, in new york, USA, people lined up in the "new york Public Food Storage Room" to receive free food. Xinhua news agency
"I’ve been here twice, I’m tired, and I have asthma." Aristeo showed reporters the medicines he carried with him, and he still kept a certificate in his hand that he could get vegetables from this NGO. On the same day, Aristeo was told that vegetables would not be distributed on this day.
Jose gonzalez, a staff member of new york Public Food Storage Room, told reporters,The number of people who come to receive free food has increased sharply this year, and a new shelter has been opened nearby.Stephen grimaldi, executive director of the organization, said earlier that before the epidemic, the "new york Public Food Storage Room" provided about 6.3 million meals a year, and the supply is expected to exceed 11 million this year.
According to the 2023 annual report released by the US Department of Housing and Urban Development this month,At present, the number of homeless people in the United States exceeds 650 thousand.The year-on-year growth rate was 12%, a record high since statistics began in 2007.
The picture shows that on December 24th, in new york, USA, the staff of "new york Public Food Storage Room" distributed free food to the public. Xinhua news agency
Multiple factors boost the polarization between the rich and the poor in the United States
This is not the first time that such a scene has appeared. In the past 100 years, the gap between the rich and the poor in the United States has shown a "positive U-shaped" trend of change.
The polarization between the rich and the poor in the United States is caused by many factors, including capital monopoly, electoral politics, government policies, the weakening of trade unions and racial discrimination.
A camp for the homeless in San Francisco, USA. Source: China Newsweek
Polarization and unfair distribution of wealth are the normal and inevitable trend of capitalism., leading to the accumulation of wealth and poverty in the United States at the same time. Since the 1970s, American conservatism and liberalism have risen, and the concepts of marketization and internationalization have replaced the values of equality. The American economic system has turned to advocating privatization, giving up imposing progressive taxes, weakening trade unions and relaxing financial control. These policy choices have made the problem of polarization between the rich and the poor even more hopeless.
The weak strength of trade unions intensifies the polarization between the rich and the poor.In the 1950s, about one-third of American workers belonged to trade unions. In 1978, the membership rate of trade unions was still 23.8%, which dropped to 11.3% in 2011 and 10.3% in 2021. The proportion of black workers joining trade unions is higher than that of other races, and the decline of unionization has a particularly serious impact on black workers, aggravating the poverty of black ethnic groups.
The gap between the rich and the poor is closely related to race.The average income of American black, Hispanic or Latino families is about half that of white families, and their net wealth is only 15% to 20% of that of white families. Federal Reserve data show that this gap has widened significantly in the past few decades. Since 1989, the median wealth of white families has tripled, while the wealth of black, Hispanic and Latino families has hardly increased. According to a survey conducted by the Federal Reserve in 2019, the net assets of the median white family in the United States are 10 times that of the median black family, and the total wealth of the 400 richest American billionaires exceeds the total wealth of 10 million black American families.
Racial discrimination in the job market is serious.For a long time, the unemployment rate of blacks in the United States is about twice that of whites. Before the COVID-19 outbreak, the unemployment rate in the United States reached a historical low of 3.5%, but the unemployment rate of black and Hispanic workers was still much higher than this. Black Americans are poorly represented in high-paying positions in enterprises. In 2020, there were only four black CEOs in Fortune 500 companies.
The adverse consequences of the widening gap between rich and poor in the United States
More and more evidence shows that high wealth inequality is not conducive to economic and social development.
First of all, with the widening gap between the rich and the poor, demonstrations broke out in the United States in recent years.From the "Occupy Wall Street Movement" that originated in the United States in 2011 to the "Black Lives Matters" parade that opposed the violent law enforcement by American police in 2020, some demonstrations even turned into violent incidents. Behind the large-scale demonstrations are the dissatisfaction and struggle of the bottom people in the United States against racial discrimination, class solidification and wealth differentiation. In the case of constant social conflicts, the economic and social development of the United States will be affected to varying degrees.
Secondly,The polarization between the rich and the poor intensifies social injustice in the United States.In the United States, higher education resources are always disproportionately inclined to the rich, and low-income people lose equal opportunities for education. According to a statistic, among the 38 elite American universities, the number of students from the top 1% American families is more than that from the bottom 60% American families. According to a research report in Journal of American Medical Association, the average life expectancy gap between the poorest class and the richest class in California has widened to 15.51 years due to the COVID-19 epidemic. The deepening of racial conflicts, frequent urban riots and serious violent crimes … The chaos in American society is closely related to the widening gap between the rich and the poor.
Finally, high wealth inequality will breed more rent-seeking behaviors and bring social injustice.Joseph stiglitz, an economist, defines rent-seeking as "the act of trying to get more share of the cake without making a big cake". In American society, politicians generally need private financial support to carry out election campaigns. Moreover, compared with the poor, the rich often have more social influence and discourse power, and economic inequality will aggravate political inequality at this time. On the one hand, the rich tend to support tax relief policies, resist public welfare expenditure items and redistribution policies; On the other hand, the rich will persuade the government to deregulate their interest groups, thus gaining monopoly market and excess income. When the rich have more dominance in political decision-making, while the political participation of low-income people or the working class continues to decline, the division and opposition of American society will become more serious.
Source: China Newsweek
Xiong Yihan, a professor at Fudan University, once said:The measure of a society’s material civilization depends on how its poor people live; A measure of a society’s spiritual civilization depends on how well its rich people do.When the United States moves forward as the world’s number one capitalist country, it may be time to lift the glamorous veil and face up to the cold reality of its polarization between the rich and the poor.
Source: Comprehensive from Xinhua News Agency, Xinhuanet, China News Weekly and People’s Daily International Report.Guangzhou Daily Xinhua City Editor: Liu Chengyu
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