As one of the first batch of private banks in the country, Wenzhou Commercial Bank ushered in a historic breakthrough on the tenth anniversary of its establishment - the asset size exceeded 50 billion yuan, private economic loans accounted for 73.7%, and a total of more than 130 billion yuan of credit funds have been invested in ten years.
With the strength of Musk Amway, Dogecoin quickly stood out from the circle and became one of the most popular currencies in the Year of the Ox. After Dogecoin became popular, various animal coins have won enthusiastic onlookers and caused heated discussions.
Dogecoin is known as "dogcoin/dogcoin" and was born on December 8, 2013. Based on script algorithms, Dogecoin is the second largest virtual currency in the world after Bitcoin in terms of number of users. The authors of this article are Jackson Palmer, an Australian brand and marketing expert, and Palmer, a programmer from Portland, Oregon, USA.
Data shows that under the strong Musk of Amway, Dogecoin has risen by 3412% and 441% in the past three months and the past 30 days respectively.
Perhaps inspired by Dogecoin, Shiba-Inu-coin-Shib was created in the last two days and spread among the cryptocurrency community. According to the official introduction, Shib is an experiment in decentralized spontaneous community building. Shib token, nicknamed the Dogecoin killer, is the first token in the community, allowing users to hold 100 million or even trillions of tokens. Shib is an ERC-20 token and the price can be controlled below 1 cent. Shib will also be traded on Shiba Swaps, which is also its incentive token. Shiba Swap will be launched at the end of April.
Data shows that Shib has grown by 1278.72% in the past seven days.
Akita-Inu-Akita is a *decentralized community experiment where half of the tokens are sent to vitalik buterin and the other half are locked in the Uniswap pool and the keys are burned. It is the same as Shiba-Inu, but the token index is different. Akita Coin is inspired by Elon Musk and Dogecoin.
Data shows that Akita has grown by 16,811% in the past seven days.
It’s not just the rise of dog money. The entire Animal Coin Tray caught the attention of the market. There are also Aragonese ants in the animal coin collection. Aragon is an open source project based on the Ethereum blockchain. It aims to be a decentralized autonomous organization (DAO) that allows stakeholders to vote on the future development and direction of the project. Aragon uses ERC-20 token ant to facilitate voting and governance of the project. The Aragon Network is a digital governance organization controlled by tokens. Its goal is to create an ecosystem that allows any organization, entrepreneur, and investor to collaborate efficiently and securely, free of technical vulnerabilities and malicious actors.
The organization on the Aragon network chain will take Aragon as the core and consist of a decentralized autonomous organization (DAO) with entity language and a decentralized application (DAPP) on the web. Initially, Aragon Core will focus on capitalized corporate organizations, but is modular enough to accommodate other types of organizations as well.
However, compared with the crazy Dogecoin market, Ant’s increase is not large, with an increase of 96% in the past three months.
It is worth mentioning that the Coin Security Smart Chain (BSC) is also included in the Animal Coin channel. The BSC Bunny team is committed to supporting the underlying DeFi ecosystem by providing users with a simple way to automatically combine income through the binance smart chain. BSC has risen 105.47% in the past 30 days.
In addition, there is the Pig Protocol, which offers a simple solution: all coins are in the wallet, there can be no rugs, and it is *decentralized; yields multiply automatically, without complex asset matching, liquidity and risk of variable losses. Pigs are a highly productive and frictionless agricultural substitute. There is a 5% tax on each transaction: 3% is locked in working capital; 2% is allocated to pig farmers based on the proportion of pigs in stock. The price of pigs has increased by +310.00% in the past 30 days.
In addition, many items on the market, such as pikas, rabbits and foxes, are also included in the animal currency list. However, from the data point of view, the increase in the Dogecoin series is more obvious. However, with regard to the hype about animal currencies, industry insiders believe that it is difficult for new entrants to obtain high returns on already rising cryptocurrencies such as Bitcoin. On the contrary, they are prone to hyping conceptual currencies. The dog money has increased dozens of times in a short period, as well as the previous community accumulation and KOL support. Other currencies that are rising rapidly, as well as currencies influenced by this concept, can easily become tools for short-term speculation, and also remind new entrants not to be too aggressive.
Article title: Is Dogecoin setting off a new round of bubble after Animal Coin?
Article link: https://www.btchangqing.cn/239220.html
Update time: April 22, 2021
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China News Service, Nanchang, March 30 (Reporter Li Yunhan) As of the end of February this year, the cumulative amount of entrepreneurial guaranteed loans in Jiangxi Province exceeded 300 billion yuan for the first time in the country, reaching 304.1 billion yuan. Behind these numbers, 1.87 million entrepreneurs got their first pot of gold, which also created 8.22 million jobs.
From its beginning in 2002 to breaking through the 300 billion yuan mark in the spring of 2026, how did a series of entrepreneurial guaranteed loans flow into the urban and rural corners of the land of Gansu and Po, allowing the seeds of entrepreneurship to take root and the branches and leaves of employment to flourish?
Precise financial drip irrigation, targeting key groups
The core logic of entrepreneurial guaranteed loans is "you start a business, and I will subsidize the interest." But how can we maximize the leverage of limited financial funds and accurately benefit the people who need it most? Jiangxi’s answer is: focus on people’s livelihood and make targeted efforts.
It is understood that the Jiangxi Provincial Party Committee and the Provincial Government have included this work in people's livelihood practical projects for 20 consecutive years, focusing on six key groups such as people with employment difficulties, college graduates, migrant workers who have returned to their hometowns to start businesses, people who have been lifted out of poverty, fishermen who have retired from fishing, and retired military personnel. The effect of this "precision drip irrigation" was particularly significant during the "14th Five-Year Plan" period: Jiangxi supported 238,100 people in six key groups and issued loans of 41.948 billion yuan, which was 2.85 times that during the "13th Five-Year Plan" period.
On March 7, the 2026 Jiangxi Province Women's Special Job Fair and Nanchang City's "Spring Breeze Action" Employment Assistance Women's Job Fair were held in Nanchang, Jiangxi. Photo by Liu Lixin
Huang Wangyan, director of the Financial Supervision Division of the Jiangxi Provincial Department of Finance, said that during the "14th Five-Year Plan" period, the central finance allocated Jiangxi a total of 3.16 billion yuan in interest subsidies and subsidies, of which it exceeded 1 billion yuan for the first time in 2025; the provincial finance allocated a total of 1.39 billion yuan; the city and county finances cumulatively supplemented the guarantee fund with a total of 350 million yuan.
The guarantee of fiscal funds is the key to the implementation of policies, and it is this multi-level fund guarantee system of "central subsidy, provincial investment, and city and county follow-up" that is building a solid "fund pool" for entrepreneurs.
It is worth mentioning that the stable entrepreneurial subsidy policy launched by Jiangxi in 2024 has reduced the cost of starting a business for 43,700 entrepreneurs through the method of "enjoyment without application and direct subsidy from the system". This proactive service model of "finding people based on policies" allows financial funds to truly "drip" into the hearts of entrepreneurs.
Finance takes multiple measures to solve difficulties and clear blockages
The biggest headaches for entrepreneurs are often "difficulty in getting a first loan" and "difficulty in guaranteeing". Faced with this pain point, the Jiangxi Branch of the People's Bank of China and financial institutions have launched a "combination punch" to make financial "live water" not only "flow", but also "flow smoothly."
According to Lin Hai, director of the Credit Policy Management Department of the Jiangxi Branch of the People's Bank of China, the bank has set up a separate re-loan quota to support agriculture and small businesses, which will be used as a priority to encourage local corporate banking institutions to increase lending in the field of entrepreneurship and employment. At present, a total of 15 national banks in the province have opened business guaranteed loans in Gansu branches and 6 local corporate banks, achieving full coverage of institutional types.
On February 24, the 2026 Spring Breeze Action and Employment Assistance Season Employment Recruitment Conference was held in Ganzhou City, Jiangxi Province. Photo by Liu Lixin
In order to solve the problem of "guarantee difficulty", Jiangxi has explored and constructed a market credit guarantee reform model in which "government + bank + financial guarantee" three parties share risks. In 2023, Jiangxi Province took the lead in launching a pilot reform of loans for small and micro enterprises founded by high-level (high-skilled) talents, increasing the guarantee-free limit from 1 million yuan to 2 million yuan; in 2024, Xinyu and Ganzhou included personal loans in the scope of the reform pilot; in 2025, it was extended to the entire province. Through this model, nearly 600 unsecured and unsecured entrepreneurs have been helped to meet their financing needs.
In addition, various regions in Jiangxi also launch special products based on local conditions. For example: Jingdezhen City has tailor-made "Jingpiao Loan" for foreign entrepreneurs; Yujiang District of Yingtan City has launched "Yukuai Loan" to help entrepreneurs in the preparatory period take the "first step" in opening their business; Jiujiang City, Xinyu City, and Shangrao City have respectively focused on special industry chain products such as "Refining and Chemical Loan", "Mizu Loan" and "Photovoltaic Loan" to deeply bind financial flows with local industries.
Improved service quality and efficiency, and digital empowerment is convenient and accessible
How to enable entrepreneurs to "go into battle with ease" will test service efficiency. Jiangxi relies on the 5+2 Employment Home service platform to promote service quality and efficiency through digital transformation, allowing "more data to travel and less people to travel."
In terms of simplifying procedures, the Jiangxi Human Resources and Social Security Department has connected key data from public security, civil affairs, market supervision and other departments to achieve "one-certificate processing" for personal loans, and the number of application materials for small and micro enterprises has been reduced from 7 to 2. In terms of shortening the time, the collective approval system of the loan review committee has been canceled for personal loans below 300,000 yuan, and the two-level approval system has been fully implemented. The average processing time of a single business has been reduced from 15 days in 2020 to 10 days in 2025. In terms of handheld processing, through the 5+2 Employment Home service platform, integrated services such as policy inquiry, business processing, and progress tracking are realized.
On February 24, the 2026 Spring Breeze Action and Employment Assistance Season Employment Recruitment Conference was held in Ganzhou City, Jiangxi Province. Photo by China News Service reporter Liu Lixin
"Through a series of measures, the human resources and social security departments at all levels have continuously improved the quality and efficiency of services, making social services more powerful and warm, and have won the recognition and praise of entrepreneurs." Guo Jinliang, director of the Jiangxi Provincial Employment and Entrepreneurship Service Center, said that the Jiangxi human resources and social security departments actively promote data sharing, simplify processing procedures, expand processing channels, and provide entrepreneurs with efficient, convenient and transparent entrepreneurial guaranteed loan processing services.
This year, Jiangxi will also launch three new service measures: gradually canceling the loan renewal procedures, personal loans can be repaid in three years before the principal is repaid, and small and micro enterprise loans can be repaid in two years; adding a mobile application channel for small and micro enterprise loans; and proactively pushing policies and application portals to newly registered market entities by sharing data from market supervision departments. This means that entrepreneurs can enjoy full-process services from policy information to loan application without leaving home. (over)
Mao Ning: This incident exposed the depth and harm of Japan's right-wing ideology and distorted view of history. According to reports, Japan’s National Defense University has a “routine” of collective visits to the Yasukuni Shrine every year. In 2024, a former senior Maritime Self-Defense Force official actually served as the Palace Secretary of the Yasukuni Shrine. This is the first time that a retired Self-Defense Force general has served as the highest position of the Yasukuni Shrine. The Self-Defense Forces have long invited far-right elements who are extremely anti-China to participate in teaching, and the training materials are full of content that distorts and beautifies the history of World War II aggression.
The parents of the Self-Defense Forces officer who illegally broke into the Chinese Embassy said that he did not behave in extreme ways when he was growing up and studying in his hometown, and they had no idea why he did what he did. This person received a nine-month reserve cadre training course in the Self-Defense Forces. During this process, what ideas did the Self-Defense Forces instill in him and what kind of education did he receive? It deserves attention, investigation and reflection. The rightward shift of the Japanese Self-Defense Forces and the "remilitarization" of Japan deserve the high vigilance of the international community. China once again urges Japan to thoroughly investigate the incident and fundamentally prevent such incidents from happening again.
Reporter’s question screen
Reporter from the Iranian Audiovisual Organization: A report from Iran’s Ministry of Cultural Heritage, Tourism and Handicrafts shows that since the war began on February 28, Israel and the United States have attacked more than 130 historical sites and monuments and caused widespread damage, many of which are included in UNESCO’s relevant lists. Historical heritage is very important to ancient civilizations like China and Iran with a long history. These attacks on historical monuments run counter to China's global civilization initiative. What is China's position on these actions?
Mao Ning: World cultural heritage is a precious wealth for all mankind. China deeply deplores the destruction of Iranian cultural relics and monuments during the war and urges all warring parties, especially the United States and Israel, to immediately and comprehensively cease military operations, start dialogue and negotiations as soon as possible, and end this war that should not have happened as soon as possible.
"Beijing Daily" reporter: According to reports, the United States and Israel have recently attacked the Arak Heavy Water Plant, the Hundab Heavy Water Reactor, the Ardakan Yellow Cake Processing Plant, and the Bushehr Nuclear Power Plant in military operations. The US military is conducting exercises to seize and transfer Iran's enriched uranium stockpile by force. In addition, Iran submitted a working document on the prohibition of attacks on peaceful nuclear facilities and scientists to the upcoming 11th Review Conference of the Treaty on the Non-Proliferation of Nuclear Weapons, emphasizing that attacking nuclear facilities with force violates many international legal documents. What is China's comment on this?
Mao Ning: Armed attacks on peaceful nuclear facilities that are subject to the safeguards and supervision of the International Atomic Energy Agency violate the purposes of the United Nations Charter, international law, and the Statutes of the International Atomic Energy Agency. It seriously affects the authority of the Treaty on the Non-Proliferation of Nuclear Weapons, weakens efforts to maintain the international nuclear non-proliferation system, and may have serious consequences for regional peace, security, and stability. China firmly opposes this, advocates peaceful resolution of the Iranian nuclear issue through political and diplomatic means, and calls on all parties to remain calm and restrained to avoid further escalation of tensions.
The 11th Review Conference of the Treaty on the Non-Proliferation of Nuclear Weapons is about to be held. China is concerned about the negative impact of the military strikes by the United States and Israel. China is willing to work with all parties to continue to promote peace and negotiation with an objective and fair stance, support resolving the Iranian nuclear issue through dialogue and negotiation, effectively safeguard the international nuclear non-proliferation system, and promote peace and stability in the Middle East.
Reporter’s question screen
Reporter from Indonesia's Antara News Agency: The United Nations Interim Force in Lebanon was attacked for two consecutive days. Two Indonesian peacekeepers were killed and two others were injured in the attack. China plays an important role in UN peacekeeping operations. Does this incident raise serious concerns about the safety of peacekeepers? What measures can be taken to better ensure their safety?
Mao Ning: We express our condolences for the death of the Indonesian peacekeepers who were attacked. Deliberate attacks on United Nations peacekeepers are a serious violation of international humanitarian law and Security Council Resolution 1701 and are absolutely unacceptable. The parties concerned should cease fire and cease fighting as soon as possible and take practical measures to ensure the safety of United Nations peacekeepers. China is also willing to play a constructive role in cooling down the situation and restoring peace and stability in the Middle East.
Jingchu Net (Hubei Daily Net) News (Correspondent Bi Sheng Liu Wenxian) Spring cherry blossoms are like snow on the branches, and scholastic students are starting a new chapter. On the morning of March 29, there was thunderous applause and youthful excitement in the lecture hall of the Hubei University of Economics Library. The spring graduation ceremony of the 2025 Hubei University of Economics Higher Education Self-Study Examination was grandly held here. More than 300 graduate representatives, teachers, and family members gathered on the campus where cherry blossoms were in full bloom for a glorious appointment.
The ceremony was hosted by Hubei University of Economics, co-organized by China University of Geosciences (Wuhan) and Wuhan University of Science and Technology, and hosted by Hubei Electronic Information College. Zhang Guoan, member of the Standing Committee of the Party Committee and Vice President of Hubei University of Economics, Wang Qizhi, Secretary of the Party Committee of the School of Continuing Education of Hubei University of Economics, Wuhan University of Science and Technology continued Cheng Hongfeng, deputy dean of the School of Education, Wang Xinxin, director of the Self-study Examination Office, and Zhao Junyi, deputy director, Tian Feng, site management director of the School of Distance and Continuing Education of China University of Geosciences (Wuhan), Liu Mingda, party branch secretary and president of Hubei Electronic Information College, and Chen Jian, deputy secretary of the party branch, attended. Luo Jie, deputy dean of the School of Continuing Education of Hubei University of Economics, Wang Danfeng, deputy secretary of the party committee and deputy dean, Ding Fang, deputy dean, and heads of relevant departments, as well as representatives of outstanding teachers from Hubei Electronic Information College attended the event. The graduation ceremony was hosted by Zhang Zhiwu, Dean of the School of Continuing Education of Hubei University of Economics.
A message from Zhang Guoan, Member of the Standing Committee of the Party Committee and Vice President of Hubei University of Economics
Zhang Zhiwu, Dean of the School of Continuing Education of Hubei University of Economics, presided over
The ceremony kicked off with the solemn national anthem. Zhang Guoan expressed his warmest congratulations to the students who have successfully completed their studies! I would like to express my most heartfelt thanks to the teachers who have worked hard and dedicated themselves silently! I would like to express my highest respect to people from all walks of life who have always cared about and supported the development of school self-study examinations! He briefly introduced the school’s history, philosophy, characteristics, achievements, “new finance” reform and “double promotion” strategy, etc. He encouraged students with “five messages”: First, continue to study and be down-to-earth. Graduation is not the end of learning, but a new starting point. Second, we must aim high and never forget our original aspirations. Keep in mind the school’s motto of “being virtuous, knowledgeable, managing the world and benefiting the people”, and combine personal ideals with national development. Third, we must temper our character and shoulder our mission bravely. Have the courage to take responsibility, face challenges and maintain a proactive attitude. Fourth, we must unite knowledge and action, and act bravely and resolutely. Take "Three Haves and Three Realities" as the "coordinates" on the way forward, learn and solve problems through practical actions, and have the courage to face difficulties. Fifth, we must be grateful and repay the society. Give back to the society with practical actions, spread love and positive energy widely, remember the kindness of teachers and alma mater, continue to pay attention to the construction and development of alma mater, and go back to "home" often.
Cheng Hongfeng, deputy dean of the School of Continuing Education of Wuhan University of Science and Technology, delivered a speech
Liu Mingda, Secretary of the Party Branch and President of Hubei Electronic Information College, delivered a speech
Chen Jian, deputy secretary of the Party Branch of Hubei Electronic Information College, informed about the decision of outstanding graduates and outstanding teachers in the spring of 2025
At the meeting, Cheng Hongfeng, deputy dean of the School of Continuing Education of Wuhan University of Science and Technology, and Liu Mingda, secretary of the Party branch and president of Hubei Electronic Information College, delivered enthusiastic speeches respectively, speaking highly of the graduates' achievements and encouraging them to continue to carry forward the spirit of diligent study and courage to explore, to continue to pursue excellence in their future work and life, and to make greater contributions to society. Chen Jian, deputy secretary of the Party Branch of Hubei Electronic Information College, informed the Hubei Electronic Information College of the decision to select outstanding graduates and outstanding teachers in the spring of 2025.
Outstanding graduates took the stage to receive awards
Outstanding teachers came to the stage to receive awards
Graduate representatives came to the stage to receive graduation certificates
Subsequently, the ceremony entered the awarding and graduation certificate phase. Zhang Guoan, Zhang Zhiwu, Wang Qizhi, Cheng Hongfeng, and Tian Feng presented awards to outstanding graduates; Liu Mingda presented awards to outstanding teachers; Zhang Guoan, Zhang Zhiwu, Wang Qizhi, Cheng Hongfeng, Tian Feng, Liu Mingda, and Chen Jian presented graduation certificates to graduate representatives.
Qi Chenlu, outstanding graduate representative, delivered a speech
Ke Qin, the outstanding teacher representative, gave a speech
Qi Chenlu, the outstanding graduate representative, and Ke Qin, the outstanding teacher representative, made exchange speeches respectively.
It is reported that organizing higher education self-study examination students to participate in the graduation ceremony is an important link for Hubei University of Economics to implement the fundamental task of cultivating moral character and strengthening ideological and political education. It is a major measure to deepen the reform of national higher education continuing education. It is a powerful starting point to enhance students' sense of identity, belonging and honor. It is an important way to carry forward the scholastic spirit and is of great significance to promoting the high-quality development of the school's continuing education. This graduation ceremony coincides with the school's 2025 Cherry Blossom Festival and Tangxun Lake Aesthetic Education Festival activities. The activities include "Sakura rhyme enlightens the mind, aesthetic education nourishes the heart", "Sakura Lake Sutra, intangible inheritance", "Sakura comes with appointment, youth travels together", "Sakura beauty ecology, carbon cable fashion" "Sakura has faith, love returns to Lake Sutra" With 7 major theme activities including "Sakura Welcome, Academic Activities", "Sakura Blossoms in the Clouds, Beautiful Lake", the school uses cherry blossoms as a medium to promote the construction of campus culture, implements the educational concept of "educating people with beauty, and educating people with culture". It also publicizes and promotes low-carbon concepts, integrates ecological civilization education into daily life, and implements it.
Where the cherry blossoms are blooming, it is the right time to set sail. This ceremony, carrying hope and inheritance, not only brought a successful conclusion to the studies of all self-taught graduates, but also ignited their ambition to go to mountains and seas and make contributions. I hope that all graduates of the School of Economics will keep in mind the spirit of the school motto of "Being virtuous, knowledgeable, managing the world and benefiting the people", always maintain the innocence of the School of Economics, use innovation as the pen, use struggle as the ink, strive for self-improvement, work hard, and bloom brilliant flowers on the journey of Chinese modernization in the name of youth!
According to recent reports from many foreign media including the Financial Times, BBC and CNN, the UK plans to reduce the design speed of High Speed 2 (HS2) to save billions of pounds.
According to the original design, the construction specification of the HS2 high-speed railway is that the train can reach a maximum speed of 360 kilometers per hour. However, based on technical limitations and construction cost considerations, the British government believes that if the original design is maintained, the new trains running HS2 must be sent to China for testing. Otherwise, they can only wait for the UK to build a dedicated test track, but this will significantly increase the construction cost.
According to reports, the HS2 high-speed railway officially started construction in 2019. It is planned to start from London Euston Station (Euston), pass through Birmingham, Manchester, and finally reach Leeds. However, three years after the start of construction, the project fell into a quagmire of project delays, cost overruns and planning failures.
A construction site of the HS2 high-speed railway. Financial Times
The project was originally proposed with a budget of £37.5bn, but by 2020 forecasts show the project cost will reach £100bn. The soaring construction costs have led to calls within the British government for route reduction and opposition to the construction of high-speed rail. In 2021, some government MPs suggested reducing the design speed and cutting off the construction of the line to Leeds. In 2023, some people proposed to abandon the high-speed rail line in Manchester.
A British transportation expert said that if the construction of the established high-speed rail line is reduced as recommended by MPs, it will seriously weaken the actual value and future economic benefits of the high-speed rail line. "It doesn't look cost-effective to just build the London to Birmingham high-speed rail line."
British Transport Secretary Heidi Alexander recently stated that in order to control the soaring costs of the HS2 project, it is considering reducing the maximum design speed of the trains from the originally planned 360 kilometers/hour to 300 kilometers/hour. It is estimated that every 1 mile reduction in speed can save approximately £1 billion in infrastructure and vehicle operating costs.
However, Alan Over, Director General of the Major Railway Project Group of the British Department of Transport, pointed out that the purpose of building expensive high-speed railways is to maximize train traffic per unit time. Reducing the speed means a significant reduction in the number of trains passing per hour, which will affect travel efficiency, lead to a reduction in the number of passengers and revenue, and ultimately lead to serious losses.
According to reports, the construction of the HS2 high-speed rail line has always been one of the thorny issues for the British government. The government hopes that it will help economic recovery. However, subsequent construction and development have made it increasingly difficult to justify the HS2 high-speed rail line. At the same time, the overall construction costs of HS2 are rising, dampening public enthusiasm for major infrastructure projects.
In response to the media, a spokesperson for the HS2 project admitted that "the overall construction situation of HS2 is unacceptable and requires re-planning." The spokesperson said, "The initial target cost of the project was too optimistic. When we started construction, the design was not yet mature. In addition, the relevant persons in charge of the HS2 project changed frequently, lacked technical research capabilities in key areas, and were passive when facing challenges, without the spirit of rising to the challenge."
Analysts point out that the proposal to reduce speeds may seem like a cost-saving expedient, but it touches on the core value proposition of the HS2 project - which is to bring high capacity and efficiency through high speeds. How to find a balance between huge sunk costs, lack of testing facilities and economic pressure will be one of the biggest challenges facing the "replanning" of the HS2 project.
HS2 CEO Mark Wild said in a recent interview with the media that the project is not expected to be completed until after 2037. Despite the high cost, HS2 will eventually be regarded as a "transportation miracle" in the UK.
Relevant people from the British Ministry of Transport pointed out that the current design speed of HS2 high-speed rail trains is 360 kilometers per hour, and special train speed measurement tracks and conditions must be ensured. "Otherwise, the design speed will be reduced, or the trains will be shipped to China and the existing mature high-speed tracks and technical equipment there will be used for testing." The person said, "China has the world's most advanced technical conditions for high-speed rail line construction and testing."
The above-mentioned media previously reported that China has built the most extensive high-speed railway network in the world, achieved the highest level of modernization, established a world-leading high-speed railway technology system, and successfully opened the era of smart high-speed railways. China's high-speed railway construction companies are not only committed to breaking the boundaries of speed, endurance and civil engineering, but are also one of the first companies in the world to introduce autonomous (unmanned) train operation and advanced signal control technology. Today, China is testing a 450 km/h CR450 EMU train. Its actual operating speed can reach 400 km/h, which is 50 km/h faster than the Fuxing CR400 currently in operation.
The Financial Times report also mentioned that the British government believes that if the HS2 high-speed train runs at a slower speed, there will be no need to face this situation (shipping the train to China for testing). According to reports, this reflects the embarrassing dilemma of the lack of corresponding technical research and testing facilities in the UK.
Since the fourth quarter of last year, regulatory authorities have continued to regulate the behavior of commercial banks in absorbing deposits through Internet third-party platforms and off-site. For small and medium-sized banks, especially non-Internet private banks, if they want to continue to achieve rapid growth in deposits, they must strengthen the construction of self-operated platforms.
A reporter from the 21st Century Business Herald combed through the data of 17 private banks that have released financial reports (one has not released, and one has been in business for a short time) and found that the growth of bank deposits in 2020 has shown great differentiation: first, the growth rate of deposits of 17 banks has diverged; second, the gap between banks that opened in the same batch is widening; third, the gap between Internet-type banks and non-Internet-type banks is also widening.
On January 15 this year, the Central Bank and the China Banking and Insurance Regulatory Commission officially jointly issued the "Notice on Matters Related to Regulating the Personal Deposit Business of Commercial Banks through the Internet", which regulates the personal deposit business of commercial banks through the Internet and requires local corporate banks to serve customers in the areas where they have established institutions. In 2021, the deposit gap between private banks is expected to further widen.
Two negative growth
In terms of deposit balance, as of the end of 2020, WeBank ranked first with a deposit balance of 262.829 billion yuan; MYBank ranked second with 164.689 billion yuan, nearly 100 billion yuan less than WeBank; Suning Bank ranked third with 57.294 billion yuan; followed by 8 banks with balances of more than 20 billion yuan.
Comparing the deposit growth rates of 17 private banks in 2020, it was found that Xinwang Bank and Jincheng Bank's deposit growth rates were negative, -20.56% and -17.36% respectively; 5 banks' deposit growth exceeded 100% , respectively, MYBank, Zhongguancun (000931, Stock Bar) Bank, Huatong Bank, Xin'an Bank, and Yumin Bank; Zhongbang Bank and China Commercial Bank's deposit growth exceeded 50%, and the remaining eight grew below 50%.
For Xinwang Bank and Jincheng Bank, the deposit growth rate of the two banks has been a "roller coaster" in the past two years: in 2019, Xinwang Bank's deposit growth rate was 95.95%, and Jincheng Bank's deposit growth rate was also as high as 92.12%.
Xinwang Bank stated in its 2020 financial report that it expects the policy trend of strong financial supervision to continue in 2021, and that the bank's Internet deposit and Internet loan businesses are generally relatively standardized; Jincheng Bank stated that the bank actively consolidates the development foundation of deposit business, enriches funding source channels, and provides guarantee for asset business and liquidity risk management.
The deposit growth rates of Fumin Bank and Sanxiang Bank were 1.25% and 0.69% respectively. Although they achieved growth, the growth rate was far lower than that of other banks with deposit growth. As far as Sanxiang Bank is concerned, the bank's personal deposits and corporate deposits grew at 18.17% and 5.41% respectively in 2020, but interbank deposits fell by 59.43%. As of the end of 2020, the bank's interbank deposit balance was 2.557 billion yuan, accounting for 5.87% of all deposits. At the same time, the bank reduced the balance of structural deposits to 0 yuan. The bank said the structural adjustment had achieved remarkable results.
Among the five banks with a growth rate of more than 100%, MYbank, Zhongguancun Bank, Huatong Bank, and Xin'an Bank also saw rapid growth in deposits in 2019. Among them, Zhongguancun Bank, Huatong Bank, and Xin'an Bank have been open for a relatively short time; while Yumin Bank opened in September 2019, and last year was its first full fiscal year.
Three kinds of differentiation
In addition to the differences in the deposit growth rates of the 17 private banks mentioned above, there are two other differences: first, the gap between banks that opened in the same batch is widening; second, the gap between Internet banks and non-Internet banks is also widening.
Take the first five banks that opened for business as an example: the deposit balances of WeBank and MYBank were 262.829 billion yuan and 164.689 billion respectively, while the deposit balances of Huarui Bank, Jincheng Bank, and China Commercial Bank were 27.435 billion yuan, 19.486 billion yuan, and 13.746 billion yuan respectively. The gap between the highest and the lowest was close to 20 times, and the deposit growth rates of WeBank and MYbank still maintained rapid growth.
Among the second batch of private banks that opened, Suning Bank, Zhongbang Bank, Sanxiang Bank, Yilian Bank, Fumin Bank, and Blue Ocean Bank have surpassed Huarui Bank, Jincheng Bank, and China Commercial Bank that opened in the first batch.
At the same time, among the second batch of private banks that opened, Suning Bank, Zhongbang Bank, and Yilian Bank also surpassed Fumin Bank and Xinwang Bank, which opened relatively early.
For Internet-type banks, the gap between WeBank, MYBank, XinwangBank and Yilian Bank is also widening. WeBank’s deposit scale is nearly 100 billion yuan higher than that of MYBank; Xinwang Bank’s deposits are nearly 10 billion yuan higher than that of Yilian Bank, which opened later.
3 companies’ deposits account for less than 60% of liabilities
Judging from the ratio of deposits to liabilities, most of the 17 banks are between 70% and 90%, with Jincheng Bank the highest at 88.08%; however, there are also three banks with less than 60%, namely MYBank, Fumin Bank, and Xinwang Bank, all of which are Internet-type banks.
According to regulatory requirements, the interbank liabilities of commercial banks cannot exceed 1/3. What is the interbank liabilities of the above three banks?
MYbank's financial report shows that as of the end of 2020, its deposits and deposits from peers and other financial institutions were 101.117 billion yuan, accounting for 34.02% of total liabilities. At the same time, its balance of borrowed funds was 4.605 billion yuan, and the total proportion exceeded 1/3.
Fumin Bank's financial report shows that as of the end of 2020, deposits and deposits from its peers and other financial institutions, funds borrowed from banks, and financial assets sold and repurchased totaled 9.474 billion yuan, accounting for 19.08% of the liability ratio, less than 1/3.
Xinwang Bank disclosed that as of the end of 2020, its interbank liabilities were 12.503 billion yuan. Calculation shows that its interbank liabilities accounted for more than 1/3, at 35.17%.
The loan-to-deposit ratio of three companies is higher than 100%
From the perspective of deposit ratio, 3 of the 17 banks are higher than 100%, namely Yilian Bank, Fumin Bank, and Xinwang Bank. They are also Internet-type banks. Among them, Xinwang Bank is as high as 144.81%; while Merchant Bank is only 53.13%.
As early as 2015, the Commercial Bank Law was revised, canceling the requirement that the loan-to-deposit ratio should not be higher than 75%, but at the same time changing the loan-to-deposit ratio from a statutory regulatory indicator to a liquidity monitoring indicator.
In fact, when the loan-to-deposit ratio is too high, commercial banks may have certain liquidity risks.
Yilian Bank stated in its financial report that during the reporting period, the bank increased its core liabilities by increasing its offline deposit business through its business department; absorbing deposits through self-operated platforms such as WeChat Bank and Yilian App to further expand the scale of self-operated customers and self-operated channel deposits; increasing the scale of deposits in the insurance industry; actively conducting peer credit cooperation with various financial institutions, obtaining financial support from financial institutions, and improving liquidity supply supplementary capabilities to manage liquidity risks.
In this year’s first quarter report, Yilian Bank further disclosed that the bank’s liquidity gap ratio is currently higher than regulatory standards and its liquidity is in a safe zone. The bank's loan-to-deposit ratio further rose to 118.09% in the first quarter.
Fumin Bank disclosed in its financial report that the bank regularly conducts liquidity risk stress tests every quarter and continuously improves stress testing methods. Currently, the bank's overall liquidity risk is controllable.
Xinwang Bank stated that in 2020, the bank continued to expand its sources of liabilities, optimize its liability structure, maintain reasonable liquidity emergency reserves based on business development, regularly conduct liquidity stress tests and liquidity emergency drills, and apply information systems to improve liquidity risk management capabilities and refinement. In 2020, the bank's liquidity risk appetite was reasonable, its management strategies, policies and procedures were appropriate, and no liquidity risk events occurred.
In addition, judging from the latest situation in the first quarter of this year, the deposit balances of Yilian Bank and Zhongguancun Bank have increased and decreased, which may mean that the deposit situation of private banks will become more differentiated this year.
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