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On March 5, while participating in the deliberation of the Jiangsu delegation, General Secretary Xi Jinping put forward clear requirements for economic and social development during the "15th Five-Year Plan", focusing on people's livelihood and emphasizing "exploring effective ways to promote common prosperity for all people."

On March 6, when General Secretary Xi Jinping visited members of the Chinese People's Political Consultative Conference and participated in the joint group meeting, he emphasized the need to promote decisive progress in building a healthy China during the "15th Five-Year Plan" period. This is a major deployment related to people's livelihood and well-being.

During the National Two Sessions in the first year of the "15th Five-Year Plan", both group activities were particularly concerned about people's livelihood.

First of all, the purpose is clear-Chinese-style modernization, people's livelihood is the top priority. As General Secretary Xi Jinping pointed out at the provincial class at the beginning of the year: "Economic development and social development complement each other, and one leg cannot be long and the other short."

Employment income, social security, health, mass sports…the people's livelihood concerns mentioned by the General Secretary this time are all related to the results of modernization.

Secondly, the timing is critical – the "15th Five-Year Plan" period is a critical period for laying a solid foundation and making full efforts. At present and for some time to come, "a more complex environment" and "more deep-seated conflicts" are ahead of us, and the field of people's livelihood also needs to accelerate the transformation from "is there any" to "is it good or not".

A conversation that is thought-provoking——

At the joint meeting of the Chinese People's Political Consultative Conference, when he heard members talk about the people's healthier and longer life, "my country's average life expectancy will reach 79.2 years in 2025," General Secretary Xi Jinping cut the numbers into pieces and said: "There are some differences here."

The main health indicators of Chinese residents have ranked among the top of middle- and high-income countries, but there are still gaps between men and women and between regions, and there is a lot of room for improvement towards balanced development.

When you see the results, you pay more attention to the quality. The implication is to clarify the gaps, make up for the shortcomings, and act accordingly. As the General Secretary emphasized during the deliberation of the Jiangsu delegation, “it is necessary to accurately grasp the new expectations of the people for a better life and the new characteristics of people’s livelihood work under the new situation.”

During the two group activities, the General Secretary communicated with the representatives and members respectively, showing deep concern in his words. From this, we can understand several aspects that must be grasped well in the people's livelihood work during the "15th Five-Year Plan".

The first is the foundation and key points.

Health is the basic needs of people's livelihood, and primary medical care is the "bottom" of medical and health services. At the joint meeting of the Chinese People's Political Consultative Conference, the General Secretary encouraged the exploration of artificial intelligence empowerment, but also emphasized that "it is still necessary to build the foundation of mass medical care step by step." Only by consolidating the foundation of offline health care can we make Healthy China more tangible and tangible.

Laying a solid foundation also hits the mark.

Building a healthy China by 2035 is a strategic decision made by the Party Central Committee. In response to this systematic project, the General Secretary pointed out that "we must focus on key points and firmly grasp those tasks that benefit a wide range of people and affect the whole body." For example, we must concentrate efforts and resources on improving the public health system and building a high-quality and efficient medical service system. "If the key tasks are in place, the construction of a healthy China can be solidly advanced."

The second is universal and special.

Achieve high-quality and full employment, increase the income of urban and rural residents, and further improve the level of basic public services and social security… At the Jiangsu delegation, General Secretary Xi Jinping started from the "common problems" encountered in promoting Chinese-style modernization at this stage. He hoped that Jiangsu and other major economic provinces would "proactively answer" and contribute wisdom and strength to solve people's livelihood problems across the country.

The emphasis on universality is to pay attention to the common needs of the "majority"; the emphasis on particularity is to reflect the "precision drip irrigation" of special groups and special regions.

At the joint meeting of the Chinese People's Political Consultative Conference, General Secretary Xi Jinping was very pleased to hear members from the snowy plateau describe the remarkable results in the prevention and control of altitude sickness. He was concerned about the local medical situation: "Now the conditions and technical levels have caught up with many, but this aspect needs to be strengthened. In the construction of a healthy China, this shortcoming in remote areas must be made up for."

The concern of "always worrying" is to let the warmth of development reach every corner.

The third is material and spiritual.

Chinese-style modernization is a modernization that harmonizes material civilization and spiritual civilization. In the Jiangsu delegation, from the crayfish industry in Xuyi, northern Jiangsu, to the transformation of Desheng Village in Jingjiang City into a "National Civilized Village", the representatives told General Secretary Xi Jinping about the rapid changes in rural revitalization.

The general secretary affirmed and emphasized: "It is impossible to get rich without solving the problem of food and clothing, but it is not enough to just have money and get rich. We must attach great importance to rural spiritual civilization, focus on education, focus on changing customs, and focus on cultural construction."

Sports are connected to the physical fitness and health of the people, and the character and spirit of the nation. General Secretary Xi Jinping made requirements for sports work at both group activities: "Strength in sports is reflected in two aspects. One is strong sports for all and high people's health quality, and the other is the comprehensive development of competitive sports." "It is crucial to cultivate healthy lifestyles and develop mass sports."

Material abundance and spiritual abundance are the deep-seated direction of development and a vivid manifestation of “the essence of modernization is human modernization.”

Planning: Zhang Xiaosong

Editor-in-Chief: Zhu Jichai

Main writers: Zhang Xinxin, Hu Mengxue

Vision: Jin Xiaoqian, Hao Xiaojing

Internally produced by Xinhua News Agency

Produced by Xinhua News Agency First Studio

IT House reported on March 9 that Finnish startup Donut Lab released the third independent test report issued by the Finnish National Technology Research Center (VTT). The report confirmed another statement of the company: its solid-state battery can still retain 97.7% of its charging capacity after being left alone for 10 days.

This new report (No. VTT‑CR‑00125‑26) adds self-discharge performance to an expanding list of independently verified parameters. But three reports to date, two of the company's most disruptive claims remain completely untested.

According to IT House, this self-discharge test adopted a simple and direct method. VTT first conducted an initial capacity test on the battery cell numbered DL1. The discharge capacity measured at 1C rate was 26.5 Ah, which was higher than Donut Lab's nominal specification of 26 Ah, and also significantly higher than the 24.9 Ah measured by another battery cell in the previous high-temperature test.

In the self-discharge test, VTT first charges the battery to approximately 50% state of charge (13.335 Ah), then leaves it at room temperature (22–28°C) for 240 hours (10 days), recording the voltage every 10 seconds. After the rest, VTT discharges the battery core, and the recovered power is 13.029 Ah, which is 97.7% of the initial power.

The voltage data shows an interesting pattern: the cell voltage dropped by 60 mV in the first 10 seconds and by 103 mV in the first hour – this is mainly a voltage relaxation phenomenon after charging, not a true self-discharge. From the 10th hour to the 240th hour, the voltage dropped only an additional 12 mV (from 3745 mV to 3733 mV), indicating that the cell has basically stabilized.

VTT concluded that the tests did not cause any visible damage or changes to the cells.

The monthly self-discharge rate of standard lithium-ion batteries at room temperature is typically 1%–3%. Battery University points out that lithium-ion batteries lose about 5% of their power in the first 24 hours, and then enter a steady decay stage of 1%–2% per month.

In theory, solid-state batteries should have lower self-discharge rates because their solid electrolytes are less susceptible to the parasitic chemical reactions that cause energy loss in liquid electrolyte cells.

Donut Lab's battery cell has a capacity loss of 2.3% in 10 days at 50% state of charge. This data alone is not outstanding. According to linear projection, the monthly loss is about 5%-7%, and the performance is not as good as that of conventional lithium-ion batteries. However, self-discharge is not a linear process, and the voltage curve shows that most of the loss is concentrated in the initial relaxation stage. The voltage curve from hour 10 to hour 240 is extremely flat – only drifting 12 mV in 230 hours, indicating that its long-term self-discharge rate is actually very low.

Without a longer resting period (30 or 60 days), it is difficult to accurately distinguish the initial relaxation effect from true steady-state self-discharge. The 97.7% capacity retention rate is reliable, but not enough to rewrite industry perceptions.

This is the third VTT report in three weeks. The first confirmed 11C ultra-fast charging (charge to 0–80% in 4.5 minutes), the second confirmed discharge at high temperatures of 100°C, and the third verified qualified self-discharge performance.

However, what Donut Lab continues to verify are the performance that the battery industry considers technically achievable – fast charging, high temperature resistance, and low self-discharge. These are engineering challenges, not problems at the level of physical laws. Solid-state batteries are inherently supposed to excel in all three areas.

The two parameters that aroused the strongest doubts after the CES show have not yet been independently tested by any third party:

One is the energy density of 400 Wh/kg – the chairman of Honeycomb Energy once called it "physically impossible to achieve";

The second is a cycle life of 100,000 times – this data far exceeds any existing results in the industry.

VTT's report did not provide cell weight or physical dimensions, and energy density cannot be independently verified based on available data alone.

There is another detail worth noting: the initial capacity test of the DL1 battery cell measured the discharge energy to be 91.8 Wh, and the nominal specification is 94 Wh. If the battery cell weighs about 235 grams, the energy density is close to the claimed value of 400 Wh/kg. However, VTT did not publish the weight. Inferring parameters through energy density is completely different from direct measurement.

The company's CEO, Marko Lehtimäki, has personally guaranteed that the Verge electric motorcycle will be mass-produced and delivered with this battery in the first quarter of 2026. Today, that deadline is just days away.

Three separate VTT reports in three weeks are encouraging, but there is still no truly disruptive breakthrough. Fast charging performance may be the most eye-catching one, but considering that the Chinese market has entered commercialization of products (such as BYD's second-generation blade battery), this advantage is relatively limited.

What the outside world is really waiting for is the measured data of energy density and cycle life. Once these two things are confirmed, the battery will be truly revolutionary and not just an ordinary solid-state battery with excellent thermal properties. Until VTT weighs the cells and completes thousands of cycle tests, the conclusion remains the same: the prospects are promising, but the most critical indicators remain unproven. It is getting closer and closer to the moment when Donut Lab either comes up with solid evidence or has no easily verifiable performance to announce.

Prince Harry and Meghan Markle just returned from a high-profile tour of the Middle East. This trip to Jordan, coordinated and arranged by the World Health Organization, not only marked the return of the highly topical couple who had left the British royal family to the public stage of the "quasi-royal family", but also triggered a profound discussion of public opinion in the UK: Does this controversial couple, who have been exiled overseas for a long time, exactly demonstrate the characteristics that the modern royal family in crisis urgently needs?

It is reported that the 41-year-old Duke of Sussex and the 44-year-old Duchess went deep into Jordan and visited a local refugee camp and a drug rehabilitation center. Although the two have no longer performed official duties on behalf of the British royal family since the incident known as "separation from the royal family" in 2020, the specifications and procedures of this trip are almost the same as those of the orthodox royal overseas visits in the past.

The timing of this high-profile appearance is extremely subtle. The British royal family is currently in an extremely fragile and historically sensitive period: 77-year-old King Charles III continues to receive treatment for cancer; 43-year-old Prince William is struggling to maintain a balance between heavy national duties and taking care of his family; at the same time, the aftermath of Prince Andrew's involvement in the Jeffrey Epstein sex scandal is still ruthlessly attacking the reputation of the royal family.

During his trip to Jordan, Prince Harry showed off his strong personal style. When he visited a drug rehabilitation center, he left a handwritten note for patients struggling with addiction: "It's okay not to be perfect… Now, please share your courage and experience." This simple and straightforward message, which abandoned official rhetoric, won widespread praise and once again confirmed his long-standing deep concern for mental health issues.

Core sources involved in the Jordan trip revealed to the media that the most impressive trait of Harry and Meghan is their ability to break down barriers of class and identity extremely quickly.

“When they walk through the crowd, you neither see the rigid official pomp nor feel the hierarchical differences,” an insider described. “They are accustomed to sitting closer to each other, asking direct and caring questions, and are willing to spend more time than expected. Listen. When facing vulnerable groups who are displaced or trapped in addiction, this sense of informality becomes the sharpest icebreaker. It sends an extremely clear signal to the outside world – in communication, human touch always takes precedence over ritual. "

Analysis pointed out that although this trip was not an officially authorized royal itinerary, its basic structure perfectly replicated the traditional royal visit model: meeting with community leaders, on-site inspection of aid facilities, setting aside private time for private communication, and cheering for local public welfare projects. The most essential difference, however, is that they are no longer bound by the layers of oversight of the royal bureaucracy. After getting rid of the heavy institutional shackles, they can more flexibly adjust the tone and rhythm of the visit, and devote their precious time to social issues of great practical significance such as post-disaster reconstruction services, social integration of refugees, and assistance to disabled veterans. This interactive mode, which is more conversational and significantly reduces preset scripts, makes many participants feel cordial and natural that they have not seen for a long time.

The royal family is also keenly aware of this undercurrent that cannot be ignored. A senior royal commentator sharply pointed out: "The current British royal family is undergoing a painful self-examination – public doubts about the royal family's expenses, operational transparency and its value in modern society are erupting with a degree of openness not seen in the past decades. In this era, Harry and Meghan occupy an extremely unique ecological niche. They have established rare credibility among groups that are usually indifferent or even openly critical of the monarchy, especially winning the recognition of the younger generation and people who are skeptical of hereditary privileges."

The commentator further analyzed: "With their undoubted global influence, combined with their active voice on cutting-edge issues such as mental health, identity and social justice, they have successfully reached an audience group that is difficult to reach by the traditional royal public relations machine. Although this influence does not necessarily translate into institutional support for the royal family. This has inevitably led to a soul torture: when it becomes increasingly difficult for the ancient royal family to resonate with the public in some emerging fields, can it still afford the huge cost of completely excluding these very attractive marginal figures? "

There is no doubt that Harry's bloody and tearful indictment of the royal system in his devastating memoir "Standby" and the Oprah interview that shocked the world in 2021 have left the aftermath unsolved to this day, still deeply severing the relationship between the two parties. However, even observers who have always been critical of the Harrys have to admit that when they interact with the public in public, they do show an extraordinary calmness and empathy. Whether it is impromptu chatting and laughing without any pretensions, squatting down to talk to civilian children at eye level, or stopping to have in-depth communication instead of rushing through the scene mechanically, they all seem to be able to do it with ease. This style that perfectly combines celebrity charm with natural friendly temperament gives its public activities a distinctive modern character.

"History has repeatedly proved that the monarchy has never been an immutable fossil – it has always been learning to adapt to the changes of the times, although the pace is often slow and clumsy." A source close to the royal family left a profound meaning at the end of the article: "The ultimate unresolved question at the moment is whether this ancient system is adaptable. Whether there is enough flexibility to accommodate unconventional characters like Harry and Meghan. If the future goal of the royal family is to change and survive, then the real focus of controversy is whether this deviant 'difference' is a heavy burden that cannot be shaken off in shaping the new chapter of the royal family, or a valuable asset that cannot be bought for money. "

Source: EXCLUSIVE: Why Prince Harry and Meghan Markle's Latest 'Faux Royal' Trip Shows They Are Exactly What The Firm Needs

The concept of political performance is a concentrated expression of the world view, outlook on life, values ​​and views of power, status and interests of party members and cadres in their work and entrepreneurship. It is a fundamental issue related to the party spirit. When Comrade Xi Jinping was working in Shanghai, he required leading cadres to handle "ideological concerns, power concerns, social concerns, family relations, and life concerns" and calculate "interest accounts, legal accounts, and conscience accounts." "Passing the test" is the prerequisite guarantee for practicing the correct view of political performance, and "keeping accounts" is an important method to test the effectiveness of political performance. "Passing customs" and "keeping accounts", one internal and one external, complement each other and together constitute the methodology of the Chinese Communists' correct view of political achievements in the new era. "Passing" aims to build a strong ideological dam and maintain a healthy atmosphere; "keeping accounts" focuses on weighing the pros and cons, clarifying behavioral boundaries, and ensuring that every decision and every work is in line with the party's purpose, national laws and people's expectations.

1. “Passing the test” is the prerequisite for the concept of political performance

The Communist Party of China has always emphasized that party members and cadres should sharpen their original aspirations and fulfill their mission while "passing the test." As early as January 1963, Comrade Zhou Enlai proposed that leading cadres should live well in the "five tests" of "ideology, politics, life, family and society", which laid an important foundation for advancing party building in the future. The Party's theoretical innovations come from the same source. In August 2007, Comrade Xi Jinping asked leading cadres at all levels in Shanghai to conduct "ideological relations, power relations, social relations, family relations and life relations", further enriching the contemporary connotation of this tradition. The "five levels" constitute a solid line of defense for party members and cadres to cultivate their moral integrity and start their own business. Each level contains profound political requirements and practical standards.

"Ideology" is related to the future and destiny of the party. The key is to adhere to ideals and beliefs unwaveringly. General Secretary Xi Jinping pointed out, "Leading cadres should take tempering their party spirit and improving their ideological consciousness as a lifelong task, and they should live, learn and cultivate until they are old." Party members and cadres must firmly grasp the correct political direction, keep a clear head and a firm political stance in the face of major issues of right and wrong, and continue to improve their political judgment, political understanding, and political execution. The essence of "power relations" is to correctly handle the relationship between public and private. The Communist Party of China is a party that serves the people wholeheartedly. It must adhere to the principle of using power for the people, limited use of power, fair use of power, and use of power in accordance with the law to ensure that power is "public". "Social relations" requires party members and cadres to treat social interactions with caution, speak and behave in compliance with standards, and purify the "social circle" and "life circle." To choose good friends, you must stick to the bottom line of principles and maintain an image of integrity. "Family relations" are related to the effectiveness of family tradition construction and are a practical test faced by leading cadres. They must strictly manage family members and cultivate good family traditions. "Life-related" reflects the moral character of party members and cadres. If you don’t sweep one house, how can you sweep the world? We must pay attention to small things and details, and be cautious about independence, desire, and subtlety. As the ancients said, "I examine myself three times a day," I can maintain my true self even in private and when no one is around. These "five levels" are interrelated and in-depth, and together guide party members and cadres to create achievements in transforming the subjective world and the objective world, ensuring that the cause of the party and the people is passed down from generation to generation and has a permanent foundation.

2. “Accounting” is an important method to test the effectiveness of political performance

"Accounting" is the recording, inspection and value evaluation of the performance practices of party members and cadres. To be a "clear person" in politics, we must be wary of the "muddleheadedness" of party spirit cultivation. What Chinese Communists need to remember is by no means an account of personal gains and losses, fame and fortune, but an account of benefiting the people, career development, and historical sedimentation. Success does not have to be mine, success must be mine.

Calculate the "interest account" well and adhere to the fundamental position of people's supremacy. People's livelihood is no small matter, and the branches and leaves are always related to feelings. The core of the performance concept is for whom the performance is created. A correct view of political performance is based on a correct view of interests. The key to calculating the "interest account" well is to clarify and handle the relationship between personal interests and collective interests, local interests and overall interests, and current interests and long-term interests. Our party has no special interests of its own, and all its work must take the fundamental interests of the overwhelming majority of the people as the highest standard. The fundamental criterion for testing political performance is whether it does practical things and solves problems for the people, and whether it gives the people a real sense of gain, happiness, and security. The eight words "safety and warmth" and "emergency, difficulty and worry" must be engraved in the hearts of party members.

Calculate the "legal accounting" and establish the behavioral principles of using power in accordance with the law. The rule of law is the cornerstone of governing and rejuvenating the country, and is also a solid guarantee for creating political achievements that can withstand testing. The rule of law protects Chinese-style modernization. To calculate "legal accounts" well means to have a deep understanding of the rigid constraints of legal disciplines, and to be clearly aware that any so-called "political achievements" that deviate from the track of the rule of law and violate disciplinary rules are not only ineffective, but also harmful. Party members and cadres must always be in awe, strictly constrain the exercise of power within the institutional cage, and ensure that every work can withstand legal and disciplinary inspection.

Calculate "conscience accounts" well and abide by the political character of loyalty to the party. Serving as an official for one term and benefiting one party is the conscience and responsibility that party members and cadres should have. China's excellent traditional culture advocates "honest and honest officials", and its core is the call for the moral conscience of those in power. For Chinese Communists, conscience is closely linked to the cultivation of party spirit and official and political ethics. Calculating the "account of conscience" is essentially to protect the spiritual high ground of Communists and to always maintain their utter loyalty to the Party and their deep feelings for the people. Party members and cadres must always ask themselves whether they have truly fulfilled their original mission and whether they have fulfilled their duties with a clear conscience.

"Accounts of interests, legal disciplines, and accounts of conscience" are interconnected and internally unified. They jointly guide party members and cadres to establish and practice a view of political performance that meets the requirements of the party, the needs of the times, and the expectations of the people. They use a clear-headed "bookkeeping" concept to ensure that political performance does not deteriorate or be biased, and solidly promotes the stability and long-term development of the cause of the party and the people.

3. Promote party members and cadres to establish and practice a correct view of political performance through "passing accounting"

Establish and practice a correct view of political performance, educate and guide party members and cadres at all levels, especially leading cadres, to persist in seeking truth from facts, carry out work according to local conditions, and do more to lay the foundation, increase stamina, and benefit the long-term. We should establish the orientation of emphasizing both demonstrated performance and potential performance, improve the differentiated assessment and evaluation system, streamline and optimize assessment indicators, and guide cadres to face contradictions, solve problems, and promote development. "Passing" and "accounting" are dialectically unified and complementary to each other. "Accounting" is the touchstone of "passing". Only by calculating the "three accounts" can the quality of "passing" be purified.

The correct view of political performance lies in grasping the key word "people". From what Xi Jinping said when he was in the Liangjiahe Brigade of Wen'anyi Commune in Yanchuan County, Shaanxi Province, "Going to the countryside must pass five passes: flea pass, food pass, life pass, labor pass, and ideological pass." General Secretary Xi Jinping has repeatedly emphasized: "Communists must remember that benefiting the people is the greatest political achievement." Adhere to the people-first stance and require party members and cadres to pass the "five tests" well, always put the people at the top of their hearts, ensure that power is always used for the benefit of the people, and win the trust of the people with good style. Party members and cadres must always keep in mind that where there are people's needs, good deeds can be done and performance can be created. Whether performance is good or not depends on the actual feelings of the masses and is judged by the masses.

The practical requirement for a correct view of political performance is hard work and hard work. General Secretary Xi Jinping pointed out: "Establish a correct view of political performance, insist on being based on reality and scientific decision-making, insist on long-term perspective and lay a solid foundation, persist in doing practical things, strive for practical results, and prevent formalism and bureaucracy." Party members and cadres must carry forward the spirit of nailing, observe the actual situation, take practical measures, and seek practical results, and resolutely put an end to the slogan-style, statement-style, and packaged implementation practices. They must say what is urgent and do it quickly, maintain strategic focus on long-term tasks, and work hard for a long time.

Establish and practice a correct view of political performance in cultivating party spirit. A correct view of political performance requires party members and cadres to not only do practical things that the people can see, touch, and benefit from, but also pave the way for future generations, lay the foundation, and do good things that will benefit the long-term. The fundamental guarantee for a correct view of political performance is a strong party spirit. General Secretary Xi Jinping pointed out: "In the final analysis, party spirit plays a decisive role in establishing and practicing a correct view of political performance." This important discussion profoundly reveals the essence of the view of political performance. Party members and cadres must regard strengthening party spirit as a lifelong task, thoroughly study and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, cultivate the party spirit of communists, and constantly improve political judgment, political understanding, and political execution. They must consciously accept inner-party supervision, mass supervision, and public opinion supervision, promptly discover and correct deviations in their work, and always be fearful, warned in words, and restrained in deeds.

"Passing customs" and "keeping accounts" complement each other and are practiced both internally and externally, profoundly revealing the inherent unity of moral cultivation and entrepreneurship in the Chinese Communists' correct view of political achievements. "Passing five passes" is the foundation for establishing political ethics and establishing political achievements, which is related to the correct direction, stable stance, clean environment, strict family tradition, and clean ethics; "calculating three accounts" is the standard for observing actual performance and verifying results, demonstrating the foundation of values, the rope of law, and the purity of original intentions. The two are integrated and jointly build a complete practical logic for party members and cadres in the new era to fulfill their missions and create achievements.

The journey in the new era is grand and the mission lies on our shoulders. Party members and cadres should always bear in mind General Secretary Xi Jinping's earnest instructions, regard "passing the test" as a lifelong compulsory course, and use "keeping accounts" as a mirror for daily improvement. It is necessary to cultivate political loyalty with party spirit, lay a solid foundation for the people with a pragmatic style, and shoulder the important responsibilities of the times with excellent skills. Only in this way can we always maintain our true character despite the test of wind and rain, make contributions in great practice, create excellent achievements that can truly withstand the test of practice, the judgment of the people, and the precipitation of history, inject great power into promoting the great cause of national rejuvenation, and write a new chapter that is worthy of the party, the people, and the times.

(The authors are respectively the deputy dean of the Institute of Discipline Inspection and Supervision of East China Normal University and an assistant researcher at the Party Regulations Research Center of East China Normal University)

Thanks to IT House netizen Si Wenfeng for submitting the clue!

According to IT House news on March 9, CATL announced that the company will achieve operating income of 423.702 billion yuan in 2025, a year-on-year increase of 17.04%. Net profit was 72.201 billion yuan, a year-on-year increase of 42.28%. Net cash flow generated from operating activities was 133.2 billion yuan, a year-on-year increase of 37.35%.

CATL will achieve lithium-ion battery sales of 661GWh in 2025, a year-on-year increase of 39.16%. The sales volume of power and energy storage batteries were 541GWh and 121GWh respectively, ranking first in the global market share.

IT House noticed that CATL also released a profit distribution plan for 2025, which plans to distribute a cash dividend of RMB 69.57 (tax included) to all shareholders for every 10 shares.

In 2025, the company will not convert capital reserve funds into share capital and will not issue bonus shares. The company's 2025 cash dividends include annual cash dividends and special cash dividends. The total cash dividends distributed account for 50% of the net profit attributable to shareholders of listed companies in the 2025 consolidated statements. It aims to actively respond to relevant policy directions and effectively give back to investors. However, a special reminder is that this dividend plan does not mean that the company will pay dividends at this fixed ratio every year in the future. Given that the company is still in the stage of rapid industrial development and future capital expenditures are uncertain, the dividend plan for future years will be determined based on the specific conditions at that time. Investors are advised to pay attention to investment risks.

CATL also said that in order to meet the company's production, operation and business development needs, optimize the debt structure, and reduce financing costs, the company plans to register and issue bonds of no more than 40 billion yuan.

The latest economic data shows that the U.S. economy is facing rising unemployment and increasing uncertainty about the future. Data released by the U.S. Department of Labor showed that U.S. non-farm employment fell by 92,000 in February, indicating that the U.S. labor market continues to face pressure. The number of jobs in the U.S. medical industry decreased by 28,000 in February, and employment in industries such as information, transportation, and warehousing also decreased.

At the same time, the number of new jobs in January and December last year was revised sharply downward to 57,000 new jobs and 17,000 negative jobs respectively. The data also shows that, excluding medical industry data, the U.S. economy has lost about 202,000 jobs since Trump took office for the second time in January 2025, one of the worst performances since the COVID-19 epidemic.

The New York Times pointed out that February’s employment data reflected the overall trend of continued weakness in the U.S. job market, once again raising concerns about a U.S. economic recession.

However, the report also pointed out that although the unemployment rate increased in February, the unemployment rate in the United States is still at a low level by historical standards.

Looking at specific industries, the medical care industry, which has been driving U.S. employment expansion in the past few years, rarely saw a decrease of 28,000 jobs in February. It is reported that more than 30,000 employees of the U.S. medical giant Caesars Group went on strike. Employment in the information services industry decreased by 11,000. The industry has lost an average of about 5,000 positions per month in the past 12 months, which is generally believed to be related to the trend of artificial intelligence-related layoffs. The transportation and warehousing industry lost 11,000 jobs, and federal government jobs fell by 10,000.

Diane Swank, chief economist at KPMG (USA), analyzed that the decline in employment in the United States was mainly dragged down by strikes in the health care industry. That's because of massive strikes at Kaiser Permanente in California and Hawaii, which alone cost 27,000 jobs. She also warned that the current "one-legged stool" phenomenon in the U.S. economy and job market requires vigilance. Heather Long, chief economist at Navy Federal Credit Union, a U.S. industry financial institution, said the U.S. job market is facing multiple headwinds and it is a "worrisome moment" for the U.S. economy.

The U.S. government is currently facing more than 2,000 lawsuits after the U.S. Supreme Court ruled that Trump's tariff policies are illegal. Companies that have already paid tariffs are trying to recoup the $175 billion they have paid since April last year. US media pointed out that the current situation is very confusing, and the uncertainty about how and whether future tariffs will be implemented will only exacerbate this confusion.

Trump's tariff policy is putting American consumers under tremendous pressure. Research by the Federal Reserve Bank of New York shows that nearly 90% of the economic burden of tariffs falls on American businesses and consumers. According to estimates from the American think tank "Tax Foundation", the tariff policy has caused an average tax increase of US$1,000 for American households in 2025.

Data released by the U.S. Department of Labor on the 5th showed that labor productivity in the corporate sector increased by 2.8% in the fourth quarter of last year. Although this data is a positive signal for the long-term growth of the U.S. economy, Mike Conzel, senior director of policy and research at the Economic Security Project, pointed out that the share of labor income in the United States fell to a record low last year, and the growth in labor productivity has not benefited workers in the form of higher wages.

A January analysis by "The Hamilton Project" showed that Americans' wages, adjusted for inflation, were little changed since 2020. Rahm Emanuel, who served as White House chief of staff during the Obama administration, said: "Everything Trump has done on tariffs and his war on Iran is creating job losses and increasing inflation."

At the same time, the Trump administration's weakness on economic issues is expected to affect the tone of this year's midterm elections. A survey previously released by the Pew Research Center found that 72% of Americans believe that the country's economic situation is average or bad.

In addition, according to a consumer survey report released by the University of Michigan, as of February, the U.S. consumer confidence index dropped by nearly 13% year-on-year.

"The economy has always been Trump's Achilles' heel." U.S. Senate Democratic leader Schumer seized the opportunity to attack Trump. "His disastrous policies have pushed up prices, caused unemployment, and weakened the economy. The Republican Party will suffer a disastrous defeat in the midterm elections because working-class Americans are still paying the price for Trump's failure."

Republican officials are trying to downplay the job losses. While U.S. Labor Secretary Lori Chavez-Dremer acknowledged that the report was "not optimistic on a raw basis," she later blamed recent strikes and bad weather. White House National Economic Council Director Kevin Hassett said the jobless number was "an outlier." "People are concerned that there will be another similar number in the future, or even two or three similar numbers. But right now all other indicators point to very strong GDP growth."

Comprehensive report from Beijing Business Daily

According to CCTV Finance, as one of the world's important gold trading centers, the trading volume of Dubai's local gold market has increased significantly, and some investors have turned their funds to gold and other safe-haven assets.

At the same time, due to grounded flights and blocked logistics channels, a large amount of gold was stranded in Dubai. Due to high storage and capital costs, some traders were forced to sell gold at a discount.

According to reports, some traders have begun selling gold at discounts of up to $30 an ounce to the London benchmark.

In the past week, gold rose significantly in the early days of the conflict in the Middle East. At the opening of trading on March 2, spot gold and silver both soared. COMEX gold rose by more than 2%, reaching a maximum of more than 5,400 US dollars per ounce. It then fluctuated lower and continued to fluctuate at a high level in the range of 5,000 US dollars to 5,200 US dollars per ounce. It did not continue the previous increase.

How to price the relationship between gold’s safe-haven asset properties and geopolitics?

Hu Jie, a former senior economist at the Federal Reserve and a professor at the Shanghai Advanced Institute of Finance at Shanghai Jiao Tong University, said in an interview with China Business News that gold’s narrative logic is largely anchored in “emotions.”

He said that if the conflicts between the parties can be calmed down and a new balance can be reached in a short period of time, public concerns about geopolitical tensions may be alleviated. In this case, not only will the safe-haven narrative of gold not be strengthened, but it may continue the previous moderation trend and push the premium to fall further.

Transportation Bottlenecks and the Price of Gold

Since the beginning of this year, gold prices have risen by about 20%, and once hit a record high above $5,595 per ounce in late January. Ongoing geopolitical and trade tensions, as well as concerns about the independence of the Federal Reserve, have combined to support gold demand.

However, in Hu Jie's view, before this round of relevant situations escalates, "this round of emotional resonance spurred by geopolitical turmoil is coming to an end. On the one hand, the price of gold is at a high level, and on the other hand, the previous geopolitical situation has shown signs of easing, including the relative calm of the Palestinian-Israeli conflict and the possibility of easing the Russian-Ukrainian conflict. When the intensity of this macro narrative weakens, the market's emotional resonance will show weakness."

Now, the resurgence of the situation in the Middle East has added various unexpected variables to this decline in sentiment.

As mentioned earlier, the situation in the Middle East has led to the interruption of air transportation in and out of Dubai, and global gold and silver circulation is suffering a major impact. Traders believe the move could exacerbate precious metals prices that have been volatile this year.

According to reports, as a global gold transportation hub, Dubai carried about 20% of global gold circulation last year. This includes both gold refined in the UAE and the Eurasian gold trade transiting there.

Traders and analysts believe that a prolonged disruption to gold and silver shipments could push up regional prices in Asian markets and exacerbate recent volatility in the precious metals market.

There are also signs that refiners are facing challenges in sourcing semi-refined gold bars that are typically minted at mines. Samit Guha, CEO and managing director of MMTC-PAMP, India's largest precious metal refiner, said that about 10% of the company's gold ingots come from a mine in the Middle East, but the supply has been interrupted. He said logistics costs for new contracts sourced from other regions have soared by 60% to 70% since the conflict began.

John Reade, senior market strategist at the World Gold Council, said: "After the grounding of flights in the Middle East, gold supply issues have caused concerns. This is the reason for the sharp fluctuations in domestic gold prices in India."

Data shows that Dubai will be the world's second largest gold exporter in 2024, and India will be its largest export destination. Rhona O'Connell, director of market analysis at StoneX, also believes that India may be most affected by the disruption in Dubai, as Dubai is a key transit point for precious metals shipped to India.

"In the short term, people can still manage to cope, but if it lasts for too long, everything will be unpredictable." O'Connell said.

Chirag Sheth, chief consultant for South Asia at Metals Focus, an analysis agency, believes that in India, one of the largest consumers of gold in Dubai, local buyers still have room to wait. Its recent demand is relatively weak, and large imports in January have inflated inventories. "But if transportation delays continue for several months, problems will emerge."

There is still a lot of gold blocked

Since the outbreak of this round of conflicts in the Middle East, most commercial flights in the Gulf region have been suspended. Although a small number of passenger flights took off from Dubai on the 3rd, people familiar with the matter revealed that these flights did not carry gold, and perishable cargo was given priority. As of the 6th, there was still a large amount of gold transportation blocked, although some gold had been loaded onto departure flights in mid-week.

As mentioned earlier, transportation bottlenecks have caused gold prices to fall further, with the spot price of Dubai Good Delivery standard gold last trading at around US$5,172 per ounce. According to people familiar with the matter, many gold buyers have suspended new orders because they cannot ensure timely delivery and the cost of transportation insurance is too high. To avoid bearing storage and financing costs indefinitely, gold traders are offering a discount of $30 an ounce to London's global benchmark price.

However, China Business News specifically asked a local resident in Dubai that the prices of gold jewelry she saw in gold stores were the same as before, and the above-mentioned "discount" behavior did not appear on the consumer side.

As a gold refining and export hub in Asia, the UAE also undertakes gold transportation from Switzerland, the United Kingdom and many African countries. Gold is usually transported in the cargo hold of passenger aircraft. Even though flights in the United Arab Emirates are severely restricted, traders and logistics companies are still reluctant to transfer high-value goods by land to airports in Saudi Arabia, Oman and other countries because of the risks and complicated procedures involved, especially when crossing land borders.

“There is currently no gold that can be transported by air,” one gold trader said, adding he hoped the disruption would not last long. Gold is usually transported as cargo on passenger planes, with a single transport volume of up to 5 tons, worth approximately US$830 million at current prices.

Some logistics carriers say they are busy processing gold cargo that has been delivered to airlines at London Heathrow Airport because airlines have been unable to transport the cargo, which has resulted in a large number of "blocked export cargo", that is, cargo that has been submitted for customs clearance but must be formally withdrawn before it can be rerouted.

Looking forward to the market outlook, Hu Jie told reporters that whether recent emergencies will inject new excitement into the geopolitical narrative is still a matter of debate. "If the conflict becomes protracted, the previous expectations of calm in the conflict area will be subverted; but on the other hand, if this conflict can be resolved in some form in the short term, the market's perception of global instability may change."

Specifically, some analysts pointed out that if the key waterway in the Strait of Hormuz continues to be blocked, the obstruction of shipping and the contraction of energy supply will form a dual drive of risk aversion and inflation, pushing the price of gold to a breakthrough upward, denying that the impact of this fluctuation on the overall inflation and macroeconomic situation will be small, and the market hedging premium will also retreat.

"It can be seen that the key to the problem is not short-term fluctuations, but the duration of the conflict. The current focus is whether the oil output channel of the Strait of Hormuz will be substantially cut off." Hu Jie explained that although news of the blockade has been spread, the actual impact on the crude oil market is still mainly expected changes at the psychological level, and there has not yet been a price surge directly caused by supply interruption. However, once the strait blockade becomes a reality and becomes long-term, it will inevitably cause a periodic shortage of crude oil supply, thus driving up substantial price increases.

He also emphasized that, therefore, there are three core variables in the current situation: first, the duration of the conflict; second, whether it will directly impact crude oil supply; third, how long the supply shortage will last. If the superposition of these three factors leads to long-term high oil prices, then a series of subsequent chain problems will be self-evident. At that time, the Fed's policy path must be re-evaluated, including the previously expected two interest rate cuts during the year, which may need to be comprehensively sorted out and adjusted based on inflationary pressures.

China News Service, Beijing, March 8 (Reporter Zhu Fangfang) Mingyitsomo, who was born in the Qiangtang grassland in northern Tibet, was influenced by his parents since he was a child and started studying Tibetan medicine at the age of 13. In an interview with China News Service at the Fourth Session of the 14th National Committee of the Chinese People's Political Consultative Conference, the member of the National Committee of the Chinese People's Political Consultative Conference and a professor at the Tibetan Medicine Department of Tibet University of Tibetan Medicine said that with the integration of Tibetan medicine into the modern university education system, more and more women are joining the cause of Tibetan medicine.

According to her observation, currently women account for about half of Tibetan doctors.

In early 2005, Mingyitsomu embarked on the road of studying abroad after practicing medicine in Tibet for many years. She studied for a PhD in Medical Anthropology at Humboldt University in Berlin, Germany. During her PhD, she also applied for a Master of Public Health at the University of Sheffield. She later completed postdoctoral research in medical anthropology at the University of Oxford in the UK and the Austrian Academy of Sciences, becoming the first female dual postdoctoral fellow in medical anthropology in Tibet.

She has been paying attention to the development of women in the field of Tibetan medicine for a long time. "Women have resilience and compassion. These are very important qualities for those engaged in Tibetan medicine. Let us bring these strengths to the world." Mingyitsomo said.

Recalling the situation before studying abroad, Mingyitsomu said: "I visited more than 60 villages in Tibet at that time. The conditions at the grassroots level were not as good as they are now. The purpose of going there was to change the public health conditions at the grassroots level. I felt that I needed to strengthen my studies." In order to facilitate clinical research after returning to China, she also systematically studied evidence-based medicine and served as a visiting scholar at the Center for Evidence-Based Medicine at the University of Oxford.

"The research conditions and research environment abroad were better at that time, but when I come back, I want to at least be able to take a leading role, help the younger generation of Tibetan doctors, teach some research methods, and at the same time provide public health guidance and health services to grassroots farmers and herdsmen, and promote the formulation of international standards for Tibetan medicine." Mingyitsomo said this about her consideration of returning to Tibet after studying abroad for more than ten years.

In recent years, she has served as a core member to promote the "Tibetan Medicine Bath Method" to be selected into the UNESCO Representative List of Intangible Cultural Heritage of Humanity.

Mingyitsomo said that studying abroad has broadened international horizons and built an integrated knowledge system. At the same time, it has played a certain role in mastering medical research methods, improving the level of Tibetan medicine research, and standardizing the international standards of Tibetan medicine. (over)

Thanks to IT House netizens Xi Chuang and SNOS Snow for submitting clues!

IT House reported on March 9 that according to TrendForce’s latest smartphone research, thanks to the momentum of Apple’s new phones in the fourth quarter of 2025, the total number of global smartphone production reached 337 million units, a quarterly increase of 2.7%. In addition, Apple and Samsung will both produce nearly 240 million units in 2025, ranking first in the world.

TrendForce said that in the first half of 2025, the smartphone market will benefit from China's market subsidy policies, and in the second half of the year, there will be contributions from the traditional peak season. The annual production volume will be approximately 1.254 billion units, an annual increase of 2.5%. In 2026, due to the surge in memory prices and the sharp increase in the cost of smartphones, global production scale is expected to decrease by about 10% per year to 1.135 billion units. Brand manufacturers are faced with the dilemma of "increasing prices to ensure profits" and "reducing regulations to ensure quantity", and the low-end market will bear the brunt.

IT Home attaches the production performance of major brands in 2025 analyzed by TrendForce:

Apple

Apple's iPhone 17 series benefited from affordable terminal pricing and successful sales. In the fourth quarter, mobile phone production increased by more than 50% quarter-on-quarter to about 87 million units, a new single-quarter high. If it can achieve significant profit margins in terminal pricing in 2026, it will help maintain production and sales performance.

Samsung

Samsung's total production volume in the fourth quarter of 2025 was approximately 58.2 million units, a year-on-year increase of 11.1%. Due to its high proportion of high-end products and the group's vertical integration advantages, it is expected to maintain stability or have the opportunity to expand its market share through a slow increase or flat terminal selling price strategy in 2026.

Xiaomi (including Redmi and POCO)

In the fourth quarter of 2025, Xiaomi (including Redmi and POCO) not only adjusted its inventory in the previous quarter, but also adjusted its production in advance to cope with the impact of rising memory prices due to the high proportion of low-end products. Production in this quarter decreased by approximately 7% in several quarters, and its annual output was close to 170 million units, ranking third in the world. It is expected that it will increase the proportion of mid-to-high-end models in 2026 to stabilize profits.

OPPO (including OnePlus and realme)

OPPO (including OnePlus and realme) considers that the sub-brand realme focuses on low-priced and high-performance products and is severely affected by component prices. It will reduce the proportion of realme low-end models starting from the end of 2025 to maintain group operations. OPPO's mobile phone production in 2025 will be approximately 143 million units, ranking fourth.

vivo (including iQOO)

The fifth one is vivo (including iQOO), which cautiously controlled production in the fourth quarter of 2025, with output falling by about 16% quarter-on-quarter. In addition to rising memory prices, competition from Huawei's Nova series also caused pressure.

Transsion (including TECNO, Infinix and itel)

Sixth-ranked Transsion (including TECNO, Infinix and itel) significantly lowered its mobile phone production volume in the fourth quarter of 2025 to 21.1 million units, a quarterly decrease of 28%. Since the brand is highly focused on low-end models, lowering production not only relieves inventory control pressure, but also prepares for the possibility of subsequent sales slowdown in emerging markets.

Honor

Honor, ranked seventh, will ramp up production at the end of 2025, driving a 7% quarterly increase in production in the fourth quarter. However, in 2026, it and Xiaomi, Oppo, vivo and other brands will face dual pressures such as competition from Huawei and rising memory costs.

Lenovo (including Motorola)

Lenovo's (including Motorola) mobile phone production performance in the fourth quarter of 2025 was roughly the same as the previous quarter, with annual output of approximately 61 million units, ranking eighth in the world. It is expected that the downward revision ratio of the brand's output in 2026 will be relatively restrained. In addition to benefiting from its mostly sales model with operators, the scale of its PC business also helps to obtain better memory resources.

China News Service, Beijing, March 8 (Reporter Guo Chaokai) "China and the United States are both big countries and cannot change each other, but we can change the way we get along." Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, said at the diplomatic-themed press conference of the Fourth Session of the 14th National People's Congress held on the 8th.

As one of the most important bilateral relations in the world today, Sino-US relations are an important highlight of the diplomatic-themed press conference during the National Two Sessions.

When asked about China's expectations for the next development of Sino-US relations, Wang Yi made it clear: "China-US relations affect all parties and affect the world. Failure between the two countries will only lead to misunderstandings and misjudgments, leading to conflict and confrontation, which will bring disaster to the world."

Chen Yurong, a researcher at the China Institute of International Studies, pointed out that Wang Yi's statement was pragmatic and constructive, and that China-US relations need to work hard on "changing the way of getting along."

How to get along? Wang Yi said that China and the United States should "uphold an attitude of mutual respect, maintain the bottom line of peaceful coexistence, and strive for the prospect of win-win cooperation," and pointed out that they should "continue to lengthen the list of cooperation and shorten the list of problems."

"The key to peaceful coexistence between China and the United States is to respect each other's core interests and major concerns." According to Xu Liping, a researcher at the Institute of Asia-Pacific and Global Strategy of the Chinese Academy of Social Sciences, the two sides can extend the list of cooperation in the economic and trade field, promote two-way investment, and at the same time strengthen communication and coordination in key areas to inject stable expectations into a turbulent world.

Chen Yurong believes that maintaining the bottom line of peaceful coexistence is a "compulsory course" for bilateral relations. This requires China and the United States to effectively manage risks and avoid misjudgments.

Heads-of-State diplomacy plays an irreplaceable strategic leadership role in Sino-US relations. Last year, Chinese President Xi Jinping met with US President Trump in Busan, South Korea. In February this year, the two heads of state spoke on the phone again and jointly steered the Sino-US relations.

In 2026, China will host the APEC Economic Leaders' Meeting and the United States will host the G20 Leaders' Summit. The outside world is paying close attention to the new round of interaction between China and the United States.

In response to the foreign media's heated discussion that Trump will visit China at the end of March, Wang Yi responded that this year is indeed a "big year" for China-US relations, and the agenda of high-level exchanges is already on our table. What needs to be done now is for both sides to make thorough preparations for this, create a suitable environment, manage existing differences, and eliminate unnecessary interference.

Su Xiaohui, an associate researcher at the China Institute of International Studies, believes that since 2025, in the face of frequent pressure from the United States in the fields of science and technology, economy and trade, China has responded forcefully and proactively, prompting the United States to return to pragmatism and rationality.

The strategic choices made by China and the United States are not only related to bilateral relations, but also have a profound impact on the world. Regarding the foreign media's question about whether China accepts the "China-US co-governance" framework, Wang Yi took a clear stance: China will never follow the old path of hegemony when a strong country becomes stronger, nor does it agree with the logic of "co-governance by major powers."

Chen Yurong’s analysis pointed out that Chinese leaders have repeatedly emphasized internationally that no matter how the international situation evolves, no matter how far it develops, China will never seek hegemony or expand. The framework of "China-U.S. co-governance" still does not break away from the Cold War mentality and implies the logic of group politics and geopolitical confrontation, which is naturally not accepted by China.

As for how the international landscape should develop, Wang Yi gave China's plan at the press conference: to build an equal and orderly multipolar world.

"The international community expects that China and the United States will treat each other with sincerity and interact with each other with trust, so that 2026 will become a landmark year for China-U.S. relations to move towards healthy, stable and sustainable development." Xu Liping said. (over)