Recently, Mr. Jin from Shenyang reported to a reporter from Securities Daily that last month he held a joint credit card between a bank and a large supermarket, but 500 yuan was deducted by the relevant bank without notifying him. This money was the supermarket credit card refund he used to redeem his points.
TJC: Transition from prison to community
"Transition from Jail to Community" is often abbreviated as TJC for quick writing and use.
Commonly found in social fields, and related.
Chinese meaning: "Transition from prison to community".
Transition from Jail to Community Specific definition English abbreviation: TJC Full English name: Transition from Jail to Community English pronunciation: American English Pronunciation: British English Pronunciation: Chinese meaning: Transition from prison to community Chinese Pinyin: cóng jiān yù guò dù dào shè qū Common fields: Social related:
Notice:
The English abbreviation TJC means more than just "Transition from Jail to Community".
What does the abbreviation "TJC" mean?
The English abbreviations of TJC collected by this site include:
[Sports] Field: Trick Jump Competition abbreviated as "TJC". Chinese means: Long jump competition [Business] Field: The Johnston Company abbreviated as "TJC". Chinese means: Johnston Company The Jennifer Collection abbreviated as "TJC". Chinese means: Jennifer Collection The Joseph Company abbreviated as "TJC". Chinese means: Joseph Company Thomas James Culinary abbreviated as "TJC". Chinese means: Thomas James Cooking Tata Johnson Controls Automotive, Limited, abbreviated as "TJC". Chinese meaning: Tata Johnson Controls Limited [Academic Science] Field: Tyler Junior College, abbreviated as "TJC". Chinese meaning: Tyler Junior College Temasek Junior College, abbreviated as "TJC". Chinese meaning: Temasek Junior College [Institution] Field: Tahirih Justice Center, abbreviated as "TJC". Chinese meaning: Tahirih Justice Center TraJectory Chart The abbreviation is "TJC". The Chinese meaning is: Track map Tennessee Justice Center. The abbreviation is "TJC". The Chinese meaning is: Tennessee Justice Center [Social] Field: True Jesus Church. The abbreviation is "TJC". The Chinese meaning is: The Jewish Channel. The abbreviation is "TJC". The Chinese meaning is: The Jewish Channel The Joint Commission (formerly JCAHO) Abbreviated as "TJC". Chinese meaning: Joint Commission (former JCAHO) Twine Jokers Club abbreviated as "TJC". Chinese meaning: Twine Jokers Club [Comprehensive] Field: The Joint Commission abbreviated as "TJC". Chinese meaning: Joint Commission Tyler Junior abbreviated as "TJC". Chinese meaning: Tyler Junior Tender Joint Count abbreviated as "TJC". Chinese meaning: Tender Joint Count
statement:
The English abbreviations on this site are collected and organized by individuals, and non-commercial copying, use, forwarding and sharing are allowed.
However, collection and bulk theft are strictly prohibited.
If there is any error, inappropriateness or infringement in the TJC abbreviation information, please contact us for processing.
Under the sharp price reduction, lithium carbonate may take off the expensive hat of "white oil".
At present, lithium carbonate has started a "200,000 yuan defense battle." According to Wind data, the average price of domestic battery-grade lithium carbonate has dropped to 215,000 yuan/ton on April 6, down more than 60% from the high of 567,500 yuan/ton in November 2022.
As for the "bottom line" for lithium carbonate price reduction, there is still controversy in the market. Some people believe that the price of lithium carbonate is expected to fall to 100,000 yuan/ton and below, but some companies believe that 250,000 yuan/ton is the break-even line. According to The Paper, in the face of "continuously falling" lithium carbonate prices, half of the four major mica lithium extraction companies in Yichun, the "Lithium Capital of Asia", have chosen to suspend production.
Why do lithium carbonate prices continue to fall? What kind of disagreement does the market have on the bottom line of lithium carbonate price?
One of the reasons for price cuts: downstream demand is lower than expected
This is not the first time that the price of lithium carbonate has plummeted. According to Wind data, in July 2020, the price of domestic battery-grade lithium carbonate fell to a low of 40,000 yuan/ton. The sharp drop in the price of lithium carbonate back then had a similar reason to today's price drop of lithium carbonate - sluggish demand.
At the 7th Annual Lithium Battery & Electric Vehicle Industry Conference that reporters attended in March, Cui Dongshu, secretary-general of the Passenger Car Association, once said: "Why did the price of lithium carbonate fall in 2020? Because my country's new energy vehicle sales in 2017 and 2018 Volume grew rapidly and stagnated in 2019 and the first half of 2020. However, a large number of companies made high investments in 2018 and 2019, and there was an explosive oversupply and sluggish demand in 2020. "
According to data from the China Association of Automobile Manufacturers, sales of new energy vehicles in my country increased by 53.3% and 61.7% year-on-year respectively in 2017 and 2018, showing strong growth. In 2019 and 2020, my country's new energy vehicle sales fell by 4% and increased by 10.9% year-on-year respectively, almost stagnating.
If the sales of new energy vehicles are the support for the price of lithium carbonate, then the slowdown in the sales growth of new energy vehicles this year has "disrupted" the price of lithium carbonate. For the whole of 2022, my country's new energy vehicle sales were 6.887 million units, a year-on-year increase of 93.4%. On April 4, according to estimates from the Passenger Car Association, new energy vehicle manufacturers sold 1.48 million vehicles in the first quarter of this year, a year-on-year increase of only 25%.
Lin Shi, Secretary General of Intelligent Connected Vehicles and Automotive Analyst of the China-Europe Association, said in an interview with reporters: "Many lithium mining companies have miscalculated the growth rate of new energy vehicles. The cancellation of the new energy vehicle 'state subsidy' directly caused the new energy vehicle market this year not to continue last year's sales growth, with a growth rate of only 25% in the first quarter. Many lithium mining companies plan lithium ore production based on a 'double' growth rate, which leads to a mismatch between supply and demand."
It can be seen that the sales growth of new energy vehicles in my country has slowed down significantly since the beginning of this year, and the growth rate of downstream demand is lower than expected, which will inevitably lower the market's price expectations for lithium carbonate. This is one of the reasons for the decline in lithium carbonate prices.
The second reason for price reduction: The entire industry chain is facing overcapacity
"Supply and demand determine commodity prices." In addition to demand, the increased supply of lithium carbonate also "added fuel to the price decline."
Chen Jia, a researcher at the International Monetary Institute of Renmin University of China and an independent international strategy researcher, said in an interview with reporters: "The price of lithium carbonate has plummeted from the early peak of 600,000 yuan/ton to the current range of 200,000 yuan. The large drop and wide impact undoubtedly exceed the lithium carbonate industry's own expectations. Otherwise, in the past two years, many companies would have entered the upstream lithium resource industry chain, either crossing borders or increasing production."
Financial commentator Zhang Xuefeng also said in an interview with reporters: "The decline in lithium carbonate prices is mainly due to the increase in supply. In recent years, domestic lithium carbonate production capacity has continued to expand, coupled with the increase in foreign imports, resulting in excess supply."
According to Huafu Securities Research Report, with the release of production capacity in South American salt lakes and Australian spodumene, global lithium supply will be 760,000 tons of lithium carbonate equivalent in 2022, will reach 1.047 million tons in 2023, an increase of 37.76%, and will reach 1.44 million tons in 2024, an increase of 37.53% year-on-year.
If the calculation is accurate, the increase in lithium resource supply this year may exceed the increase in new energy vehicle sales (only about 25% in the first quarter). As the penetration rate of new energy vehicles further increases, the release of lithium carbonate production capacity in 2024 may significantly exceed the sales growth of new energy vehicles. Simply put, "supply may rise faster than demand in the next few years," which casts a shadow over the price of lithium carbonate.
"I think the main reason (for the price reduction of lithium carbonate) is the disorderly expansion of the industry. Last year or the year before last, the price of lithium ore skyrocketed. Everyone was jealous when they saw that lithium mining companies could increase their net profits by hundreds of percent at every turn, and they all entered this industry. In addition, the threshold for the lithium ore mining industry is not high. , including vehicle companies and battery manufacturers, have invested in lithium mines, which has led to a large increase in lithium mining capacity this year and low demand, which has led to lithium mine prices having to come down, otherwise mining companies will not be able to ship and will increase inventory," Lin Shi told reporters.
In fact, the imbalance between supply and demand of lithium carbonate is just a microcosm of the overcapacity faced by the entire lithium battery industry. According to incomplete statistics from GGII, 268 new investment and expansion projects in China's lithium battery industry chain will be signed in 2022, including lithium batteries and materials. Based on the statistics of 247 projects with announced investment amounts, the total investment amount in China's lithium battery industry in 2022 will exceed 1.4 trillion yuan.
"If we broaden our horizons and jump out of the shackles of lithium carbonate prices and comprehensively examine the data of the entire lithium battery material industry chain, we will find that not only lithium carbonate, but other lithium battery materials including lithium phosphate have fallen even more sharply; comprehensive overcapacity of liquid battery basic materials such as cathode materials, anode materials, electrolytes, and separators has already begun to emerge in 2022, and the overcapacity at the entire industry chain level has been intensifying for a long time." Chen Jia said.
According to Wind data, the average price of domestic lithium iron phosphate electrolyte fell to 36,500 yuan/ton on April 6, and has continued to decline for the past year and a half. It has dropped 67.64% from the price high of 112,800 yuan/ton on October 13, 2021. The price of cathode materials also continues to decline. On April 6, the price of domestic lithium iron phosphate cathode materials fell to 88,500 yuan/ton, which was exactly "halved" from the price of 177,000 yuan/ton on November 8, 2022.
Overall, the entire lithium battery industry chain is facing a crisis of overcapacity. Zhang Jiujun, dean of the School of Materials Science and Engineering at Fuzhou University, said that it is predicted that the battery demand for new energy vehicles will exceed 1,200GWh by 2025. Although the prediction is not necessarily accurate, the current power battery production capacity planning of various manufacturers has exceeded 4,000GWh, which is much more.
According to incomplete statistics, as of the end of December 2022, the production capacity plans announced by battery factories, vehicle manufacturers and other cross-border enterprises have exceeded 4,800GWh, and most of the production capacity is planned to be launched in 2025 or before. In other words, if only the increase of new production capacity is considered and the elimination of old production capacity is not considered, the lithium battery industry may have serious overcapacity.
But Jia Hongtao, chief engineer of the power battery system at the Geely Automobile Group Research Institute, said: "With the development of the industry, all of our batteries are actually in the process of upgrading and iterating. This is not a simple upgrade. The past factories and production lines have to be eliminated and upgraded."
An industry insider told reporters: "Our entire equipment technology and product technology have been updated too fast. Now the technology from 5 years ago is already very backward." Therefore, if the elimination of old production capacity is included, the overcapacity in the lithium battery industry may not be too serious.
Mo Ke, chief analyst of True Lithium Research, also said in an interview with reporters that companies generally build production capacity moderately ahead of schedule, so there will be a bit of excess. However, the expansion of enterprise production is generally divided into many phases, of which the first phase will be realized. The construction of subsequent phases will depend on the utilization rate of the first phase to decide whether to maintain the original plan or adjust it, so overcapacity is not expected to be too much.
Despite this, most experts, scholars and industry insiders interviewed by reporters believe that overcapacity in the lithium battery industry will appear from 2023 to 2025. Regardless of whether this overcapacity is serious or not, it will have a certain negative impact on the price of lithium carbonate.
The third reason for price reduction: Car price war forces car companies to reduce costs
"From the perspective of direct causes, the prisoner's dilemma effect caused by a large number of companies in the upper reaches of the industry chain rushing to sprint for production capacity in the early stage, and the backlash effect caused by the price war in the automobile retail market triggered by Tesla's large price cuts in the lower reaches of the industry chain, are the 'culprits' of the rapid increase in lithium carbonate prices." Chen Jia said.
Specifically, the main factors that force the price reduction of upstream lithium mines are the price war between downstream car companies and CATL's "lithium mine rebate" plan. In February this year, when the price of lithium carbonate was still over 400,000 yuan/ton, CATL was exposed to have launched a "lithium rebate" plan. The core terms are: in the next three years, the price of lithium carbonate for some power batteries will be settled at 200,000 yuan/ton. At the same time, car companies that sign this cooperation need to commit to giving about 80% of their battery purchases to CATL.
At that time, Chen Jia said in an interview with reporters: "On the surface, the lithium ore rebate plan signed by battery companies and car companies was due to the external factor of high and volatile lithium carbonate prices. In fact, it was caused by the price war in the downstream new energy vehicle market that spread to the upstream. In order to compete with Tesla and other brands in production under the price war, many car companies must further reduce the cost of a single vehicle."
In January this year, Tesla’s Model 3 and Model Y saw price cuts of up to 48,000 yuan, marking the first shot in this year’s car price war. In March, Hubei teamed up with a number of car companies to launch a car purchase subsidy of up to 90,000 yuan, pushing the price war in the auto industry to a climax. According to incomplete statistics, more than 40 car brands have joined this price war in different forms.
On March 30, Volvo officially announced that its S90, XC90, S60, XC60 and XC40 (fuel version) and other models will have car purchase subsidies, with a total amount expected to be as high as 200 million yuan. The activity period will be from April 1 to April 30, 2023.
In April this year, Geely officially launched a limited-time purchase event for exclusive models, providing a comprehensive subsidy of up to 45,000 yuan for more than 10 models including the Xingyue LHi·P. The event lasted from April 1 to April 30.
To this day, the price war in the automobile industry has not ended, and the need to further lower automobile production costs will not stop. In turn, the price reduction of upstream lithium resources will also provide "ammunition" for the price war in the automobile industry. Since there is a transmission time of several months from the price reduction of lithium resources to the reduction of manufacturing costs of automobile companies, if the automobile companies expect that the price of lithium resources will further decrease, they may increase their participation in the price war and form a "price reduction cycle" for lithium carbonate prices.
The fourth reason for price reduction: sodium batteries are on the way to "grabbing jobs"
From a deeper perspective, the plummeting price of lithium carbonate is also affected by the "substitution effect" triggered by technological advancements in the industrial chain. Sodium battery and semi-solid/solid-state battery technologies are now booming.
"Take sodium-ion batteries as an example. As early as when the price of lithium carbonate soared to 600,000 yuan/ton, the country launched a sodium battery replacement strategy from the perspective of resource security. All major domestic new energy battery manufacturers have basically made sufficient technical reserves for it. Preliminary estimates show that even if the price of sodium batteries drops to the 100,000 yuan/ton range, the cost of mature sodium batteries will be 30% to 40% lower than that of lithium batteries on average." Chen Jia said.
It is understood that sodium batteries and lithium batteries are both "rocking chair batteries". They are different from lithium batteries in the selection of positive electrode materials, negative electrode materials, electrolytes, etc. For example, the common form of sodium resources is salt, which is much cheaper than the "white petroleum" lithium carbonate that relies heavily on imports.
Compared with lithium batteries, the outstanding advantage of sodium batteries is low cost, but the disadvantage is insufficient energy density, which makes it difficult to effectively replace lithium batteries in the field of new energy vehicles. According to Caitong Securities research report, the energy density of sodium-ion batteries is generally between 100Wh/kg-150Wh/kg, and lithium-ion batteries can reach 150Wh/kg-250Wh/kg.
Qi Haishen, president of Beijing Teyi Sunshine New Energy Technology Co., Ltd., said in an interview with reporters that sodium batteries can replace lithium batteries in low-speed electric vehicles, communication base stations, electric bicycles, electric energy storage, solar street lights and other fields that have relatively low energy density requirements.
According to previous disclosures from companies such as CATL and Zhongke Haina, 2023 will officially become the first year of mass production of sodium batteries. Qidian Research CEO Li Zhenqiang believes that the development of sodium batteries is a national strategy and will help solve the problem of lithium resources being controlled by others. The cost advantage of sodium batteries will be reflected in 2-3 years. He said: "Sodium batteries are not a supplement to the lithium battery industry, but a substitute. They will benchmark lithium iron phosphate and lithium manganate batteries upwards and replace lead-acid batteries downwards. If the old forces of lithium batteries and lead-acid batteries do not go all out, they will be cut off by the new forces of sodium electricity."
Taken together, the emergence of sodium batteries will seize the market share of lithium batteries in many fields such as energy storage, thus affecting the demand and price of lithium carbonate. In the more distant future, the development of technical routes such as hydrogen fuel cells may also touch the "dominance" of lithium batteries.
How far will it fall? Disagreement over price "bottom line"
If the price drop of lithium carbonate is not caused by an isolated factor, but the result of the combined influence of multiple factors. So where is the bottom line of lithium carbonate price, and to what price will it drop?
In March this year, Li Xiang, founder, chairman and CEO of Li Auto, predicted that the price of lithium carbonate would be stable at 200,000-300,000 yuan per ton in the long term. NIO founder, chairman and CEO Li Bin predicts that the price of lithium carbonate is expected to drop to 200,000 yuan/ton in the fourth quarter. These two heads of new car-making forces are "conservatives" in predicting lithium carbonate prices.
There are even more "radical" ones. During the two sessions in early March, Li Liangbin, chairman of Ganfeng Lithium Industry, told the media: "The price of lithium salt was 600,000 yuan/ton yesterday, and it may be 100,000 yuan/ton tomorrow." At the recently held China Electric Vehicle 100 Forum (2023), Wang Yu, chairman of Funeng Technology, said that it is not impossible for the price of lithium carbonate to drop below 100,000 yuan per ton in the future.
So, where is the "breakeven line" for lithium mining companies? Lin Shi told reporters: "Based on the current mining costs, if the price of lithium carbonate is 100,000 yuan/ton, most companies will still make money. If it is less than 100,000 yuan/ton, they will lose money."
Zhang Xuefeng said: "The bottom line of lithium carbonate price is difficult to determine. Affected by various factors, the overall cost of the industry is about 150,000 yuan/ton, but the specific price must also consider market supply and demand and domestic and foreign policy environments."
However, the related costs of lithium carbonate may increase in the future, further raising the "break-even line". According to calculations by Huafu Securities, due to high energy prices, the increase in resource-end production capacity has led to an increase in related auxiliary materials and other expenses. It is assumed that the cost of salt lake lithium in 2024 will increase by 5% compared with 2022, the cost of lithium extraction from spodumene will increase by 10%, and the cost of lithium extraction from lepidolite will increase by 15%. Then when the price of lithium carbonate (tax included) drops to 240,000 yuan/ton, the Guoxuan Hi-Tech lepidolite project will stop production due to high production costs. When the price of lithium carbonate (tax included) drops to 100,000 yuan/ton, mica lithium extraction companies will cease production except for Yongxing Materials and Jiangxi Tungsten Industry.
According to GGII's forecast, based on the current price decline of lithium carbonate, the original market expected price to fall to 200,000 yuan/ton by the end of the year may arrive in the second quarter of this year.
However, Chen Jia believes that the price reduction of lithium carbonate is actually a "double-edged sword." Although it will reduce the costs of battery manufacturers and car companies, if this price collapse cannot be stopped in time, it will have an impact on the upgrading of China's new energy industry chain.
"Let's take sodium-ion batteries, a relatively mature technology alternative, as an example. Assuming that there is no major breakthrough in the production technology of sodium-ion batteries in the short term, once the price of lithium carbonate drops to the break-even point of 100,000 yuan/ton, the overall price of lithium batteries will be basically the same as that of sodium batteries. Some are extremely sensitive to market prices. Battery manufacturers will be faced with the dilemma of whether to continue to invest in sodium batteries. Our competitor Japan is continuing to develop similar technical solutions. Once China's new energy industry chain stops its rapid growth, it is likely to be overtaken by it in this field from 2030 to 2035," Chen Jia said.
Although China currently leads the world in lithium battery technology, Japanese and Korean companies have already made in-depth efforts in the field of "solid-state batteries" with higher energy density and representing the future development direction of the lithium battery industry. According to a research report from Huaan Securities, Japan is currently in a leading position in technology globally due to its earlier planning and layout of solid-state battery industrialization. South Korea's three major battery companies with leading technologies have also chosen to jointly develop solid-state batteries. Major European and American car companies are trying to gain technological reserves by investing in start-up companies such as Solid Power, Solid Energy Systems, Ionic Materials, and Quantum Scape, and seek to make a comeback in the field of solid-state batteries.
In order to maintain my country's dominant position in the new energy field, it is also necessary for the price fluctuations of the entire new energy vehicle industry chain to be more stable. Lin Shi said: "If the price of lithium ore drops particularly sharply, many lithium mining companies will stop working, which will lead to insufficient supply of lithium ore. Just like pork, the price will skyrocket and then plummet. What the new energy industry is most afraid of is the sudden rise and fall of raw material prices. In this case, what new energy vehicle companies want to see is the stability of lithium ore prices, not the cheaper the better."
"Taking comprehensive consideration of the current domestic production capacity balance and upstream and downstream market demand, a red line will be formed when the price of lithium carbonate enters the range of 100,000 yuan per ton. Once the red line is exceeded, it will cause a series of supply chain, industrial chain disorders and market chaos. At this moment, it is necessary for the regulatory authorities and the industrial chain to work together to jointly maintain the sustainable development of all ends of the new energy industry chain." Chen Jia said.
Recently, Mr. Jin from Shenyang reported to a reporter from Securities Daily that last month, a credit card co-branded by a bank and a large supermarket he held was deducted 500 yuan by the relevant bank without notifying him. This money was the supermarket card credit he returned by redeeming points. After inquiry, the bank stated that his credit card was frozen due to suspected business risks and the credit card credit had been deducted. Although after a risk investigation, Mr. Jin’s credit card returned to normal and the credit card fees were returned normally, Mr. Jin still felt puzzled, “Why is a credit card that has been used well suddenly suspected of business risks?”
According to an investigation by a reporter from Securities Daily, a gray channel for cashing out points from the above-mentioned supermarket co-branded credit cards has gradually become clear. Its operation is more cumbersome than other cash-out methods: first, cardholders use POS machines to swipe their cards for effective consumption to obtain points. Generally, the handling fee applied for in advance is relatively small. Use a POS machine that has high points but can earn points to cash out the card for the first time to obtain enough points; after having enough points, use the card to make purchases in the above supermarkets. Then the cardholder applies to the bank's credit card center to redeem the points and return the card payment. Finally, the cardholder sells the goods to cash out.
An intermediary engaged in cashing out credit cards told reporters that this method of cashing out is relatively complicated and is not the most efficient way for intermediaries to make money. However, it is precisely because cashing out is difficult and involves a third-party institution - the above-mentioned supermarket - that it is not easily detected by banks.
Secret cash-out chain
Mr. Jin told a reporter from Securities Daily that this supermarket co-branded credit card is his most used credit card. Its special feature is that not only can you enjoy double points for shopping in supermarkets, but you can also use the credit card points accumulated from past purchases to directly convert them into repayment funds when repaying.
The slogan of the credit card center of the relevant card issuer also states, "Points can be used to redeem your in-store consumption in supermarkets. Every 1 yuan of RMB consumption in the store will earn 2 points, and every 1 yuan of RMB consumption outside the store will earn 1 point. If any fraud or fraud is involved in the accumulation or redemption of points, all accumulated points and redeemed gifts, card credits or flight miles may be canceled by the bank, and the bank also reserves the right to pursue legal liability against the cardholder."
The specific redemption rules are that for each supermarket credit card main card in a single natural year, the cash redemption ratio is 0.25% for 3,000 to 6,000 points, 0.5% for 6,000 to 10,000 points, 1% for 10,000 points and above, and the total number of points redeemed is capped at 200,000 points. In addition, the bank also stipulates that the first 2,999 points will not be redeemed.
Calculated based on a card with 200,000 points, the first 2,999 points will not be counted. The redemption amount within 6,000 points is 3,001 multiplied by 0.25%, which is 7.5 yuan. The remaining 4,000 points within 10,000 points can be redeemed for an amount of 20 yuan. The last 190,000 points can be redeemed for an amount of 1,900 yuan. This means that a credit card can eventually cash out nearly 2,000 yuan in cash.
The telephone customer service staff of the relevant bank told reporters that the application qualifications for the card are not high. Interested customers can apply directly through online banking, and the card can normally be approved within a week.
"After you have a credit card, you can swipe your card to cash out at some specific POS machines. These POS machines are generally POS machines with a points function that have been applied for by the intermediary in advance. Although the handling fees charged by the bank are higher, the income can cover the cost. After all, it is a business without capital," the credit card intermediary said.
The reporter also found that near some department stores or large stores, people who swipe their cards often ask if they need to pay on their behalf, and then get the cash from the real buyer to achieve the purpose of earning points. However, in this process, it is usually necessary to give the buyer some discounts.
When there are enough points in the credit card, the cardholder can go to the supermarket for shopping. Within 60 days after the purchase, submit a cash redemption application to the credit card center of the card issuer. After that, the money will be returned to the credit card in proportion. Finally, the cardholder can directly sell the items to obtain cash.
At present, my country's Consumer Rights Protection Law stipulates 60 days for hassle-free exchange, but according to the current supermarket return and exchange standards, the time is generally extended to 90 days. In other words, if the cardholder encounters problems in cashing out, he can also apply for a return or exchange without causing major losses.
It should be noted that under normal circumstances, the flow of funds between shopping malls and banks follows the principle of "where money goes out, money comes in". Even if the cardholder applies for a return, the refund will be returned to the payment account, and cash returns are not supported. Because there have been many cases of cashing out using this loophole before.
Hard for banks to detect
According to a reporter from Securities Daily, Mr. Jin’s situation is not an isolated case. In July and August, many cardholders applied for cash redemptions from their credit cards but were debited by the bank, and the bank also temporarily froze the credit card. Some cardholders have jointly lodged a complaint with the bank, but have yet to receive a positive reply from the bank.
A relevant person who is engaged in credit card swiping intermediary said that this method of cashing out is very hidden. On the one hand, for bank credit card data, cardholders are making normal purchases and repaying the money on time, and there is no problem; on the other hand, the final sale of the goods by the cardholder is already a personal behavior after the transaction is completed, and 200,000 points is not easy for ordinary people, so only specialized credit card payment intermediaries can do this transaction.
The so-called illegal cashing out refers to changing the purpose of funds through false transactions and using the withdrawn funds for illegal purposes or other prohibited purposes. Take advantage of the subtle differences in prices between the same product or nearly identical products in different markets.
People from Everbright Credit Card Center believe that if cardholders use POS machines to cash out and obtain points, it can be defined as illegal cashing out because no real transaction has occurred. But it is not easy for banks to find abnormalities in credit cards, especially when all data is normal.
"Perhaps the bank discovered that cashbacks in a certain area are very dense and the amount is large, and then they realized the problem. However, the source of everything still lies in the point acquisition of POS machines. There are many POS machines on behalf of them. In order to charge handling fees, some banks are not very strict in auditing," said the above-mentioned credit card payment intermediary.
POS machine chaos
According to the National Development and Reform Commission’s notice on optimizing and adjusting bank card swiping fees, bank card swiping transactions are divided into four major categories: dining and entertainment, general, people’s livelihood and public welfare. The handling fees transferred from merchants are divided by multiple links, including card issuers, acquirers and UnionPay. Most of them are in a ratio of 7:2:1, and some are in a ratio of 8:1:1. This also means that the card issuer gets the majority share.
As a result of the above-mentioned sharing, some card issuers have relaxed the review process in order to seize the market. According to data released by the People's Bank of China on the main entities operating the payment system in the second quarter of 2014, the number of bank cards issued in my country reached 4.540 billion, the number of domestic special merchants reached 9.9303 million, and the number of POS machines reached 13.5813 million.
A person involved in the POS machine industry said that the number of installations is still the main factor in business assessment. The more installations, the greater the commission. As for the risks, they cannot be seen in a short time.
According to a reporter from Securities Daily, the current risk control system of banks can detect abnormal data when a single card is repeatedly swiped at one or several POS machines. Therefore, for intermediaries, one POS machine can no longer meet the demand. After a credit card goes through the complicated cash-out process of several POS machines, it is often difficult for banks to monitor the risks, which also indirectly causes the high incidence of bad debts.
The interim reports of listed banks also showed that bad debts in the credit card business entered a period of high incidence in the first half of this year. Take a bank well-known for its retail business as an example. In the first half of this year, the bank's credit card non-performing loan balance increased by nearly 300 million yuan, an increase of 18.1% from the end of last year, while the credit card loan balance increased by 16.88% during the same period.
Meteorite, also known as "meteorite", is an unburned stone, iron or stone-iron mixed material that is quickly scattered on the surface of the earth or other planets by cosmic meteors or dust fragments that have broken away from the original orbit outside the earth. Meteorite rubs with the atmosphere before landing on the ground. In a high-speed and high-temperature environment, a thin molten crust will be formed on the surface. Among the meteorites that have fallen, iron meteorites account for only a small part of the meteorites that have fallen, but among the meteorites that have been collected, iron meteorites account for nearly half of all meteorites. This is because iron meteorites, which are composed of iron-nickel metal, can be stored for a long time and are not easy to weather like stone meteorites. Iron meteorites are mainly composed of two minerals: ironite and nickelite, followed by a small amount of graphite, troilite, troilite, troilite, chromite and troilite. In addition to Ni and Fe, the chemical composition also contains elements such as Co, S, P, Cu, Cr, Ga, Ge and Ir. A few iron meteorites also contain silicate inclusions.
Meteorite, also known as "meteorite", is the unburned stone, iron or mixed material of stone and iron scattered on the surface of the earth or other planets by cosmic meteors or dust fragments out of their original orbit outside the earth. The meteorite rubs with the atmosphere before landing on the ground. In the environment of high speed and high temperature, a thin molten shell will be formed on the surface. the collected meteorites, iron meteorites account for nearly half of all meteorites. This is because the iron meteorite composed of iron and nickel metal can be preserved for a long time. Unlike the meteorite, it is easy to weathering. Iron meteorites are mainly composed of two minerals, namely, ferritite and nickeloite, followed by a small amount of graphite, meteorite ferrophosphate nickel ore, meteorite chromite, meteorite carbon iron, chromite and meteorite pyrite. chemical composition, in addition to Ni and Fe, it also contains elements such as CO, s, P, Cu, Cr, GA, GE and IR. A few iron meteorites also contain silicate inclusions.
[Introduction to the collection] This iron meteorite is irregular in shape, small in size and high in density, weighing 648 grams. It has strong magnetism. The molten crust and air mark on the surface are also very obvious, which is completely in line with the basic characteristics of iron meteorites. Meteorite has still attracted good market attention in recent years. The so-called "one stone, a thousand gold" is no longer an ancient myth, but a vigorous explosion of meteorite collection potential. The prospect is very promising, and with the identification certificate of a famous teacher, it is worth collecting.
collection introduction
this iron meteorite is irregular, small in size, high in density, and weighs 648g. It has strong magnetism. The molten shell and gas seal on the surface are also very obvious, which is fully in line with the basic characteristics of iron meteorite. The meteorite still has a good market attention in recent years. The so-called "one stone and a thousand gold" is no longer an ancient myth, It is the vigorous explosion of meteorite collection potential, which has a very promising prospect. with the identification of famous teachers.
In recent years, a meteorite collection boom has gradually emerged in China. In the past few years, not only the price of meteorites has soared, but domestic meteorite collections have also gradually taken shape. Five or six years ago, the economic value brought by meteorites was not well known. From "no one knows, no one cares, no one cares, no one pays attention", the meteorite collection system has basically been formed. People are not only paying attention to the value of meteorites themselves, but also the scientific research value of iron meteorites, and their infinite and mysterious significance in studying the universe.
In recent years, an upsurge of meteorite collection has gradually sprung up in China. In recent years, not only the price of meteorites has soared, but also the domestic meteorite collection has taken shape day by day. Five or six years ago, the economic value of meteorites was not well known. From "no one knows, no one cares, no one cares, no one pays attention", to the meteorite collection system has been basically formed. People pay attention not only to the value of meteorite itself, but also to the scientific research value of iron meteorite, which is of infinite and mysterious significance to the study of the universe.
The price of meteorites per gram may reach tens of thousands of yuan. In addition to searching for meteorites on her own, Zeng Yanfang also participated in exchange meetings among domestic Tibetan friends. Zeng Yanfang said with a smile that the most expensive meteorite in her collection is a slice of Xinjiang iron meteorite containing rare metals. It is rectangular and weighs about 27 grams. She bought it for more than 10,000 yuan. "This is still a friendly price." Du Xiaodong said that the value of meteorites has also begun to rise in recent years. The reporter learned that the value of meteorites mainly depends on the type and quantity of meteorites. The larger the number of meteorites, the lower the value, with the price of tens of yuan per gram; but if the meteorite is witnessed or named, the value is higher, and the price may reach hundreds of yuan per gram; if it is a rare meteorite, the value is even higher, and some are even nearly a hundred times more than gold. The price per gram of meteorites currently ranges from tens to tens of thousands of yuan.
The price of meteorites may reach tens of thousands of yuan per gram. In addition to looking for meteorites by herself, Zeng Yanfang also participated in the exchange meeting between domestic Tibetan friends. Zeng Yanfang said with a smile that the most expensive meteorite in her collection is a slice of Xinjiang iron meteorite containing rare metals. It is rectangular and weighs about 27 grams. The cost of buying it is more than 10000 yuan. "This is still the price of friendship." Du Xiaodong said that the value of meteorites has also begun to rise in recent years. The reporter learned that the value of meteorites mainly depends on the type and quantity of meteorites. There are many meteorites, but their value is low, with a price of tens of yuan per gram; However, if it is a meteorite witnessed or named, it is of high value and the price may reach hundreds of yuan a gram; If it is a rare meteorite, its value is higher, and some even exceed gold by nearly a hundred times. The price of meteorite per gram has reached tens of yuan to tens of thousands of yuan.
Throughout ancient history, people have regarded meteorites as sacred objects. For example, the ancient Romans regarded meteorites as messengers of gods, and they built bell towers at the places where meteorites fell to worship them. The Hungarians carried the meteorite into the church and locked it up with a chain to prevent this "gift from God" from flying back to the sky. In China, "Zuo Shi Zhuan" says: "Meteorites are also stars." There are various indications that in ancient times, meteorites were extremely precious sacred objects in people's eyes. In fact, not only in ancient times, until now, meteorites are still considered to have powerful mysterious cosmic energy. They are angels in the fourth dimension of the universe. They have strong ability to ward off evil spirits, and can transport luck, ward off evil spirits, and control homes. Eminent monks from Thailand, Southeast Asia and other countries and Tibet call meteorites "Heavenly Iron" and often make them into amulets, vajra pestles and other magical tools for practice.
In the long river of ancient history, people regard meteorites as sacred objects. For example, the ancient Romans regarded meteorites as messengers of God. They built a bell tower where meteorites fell. Hungarians carried the meteorite into the church and locked it with chains to prevent the "gift of God" from flying back to heaven. only in ancient times, but even today, meteorites are still considered to have strong mysterious cosmic energy. They are the angels in the fourth dimension of the universe. They have strong ability to ward off evil spirits, and can transport, ward off evil spirits, town houses, etc. Eminent monks in Thailand, Southeast Asia and Tibet call meteorites "heavenly iron", and often make them into amulets and Vajra pestles for cultivation.
In recent years, with the increasing popularity of meteorite knowledge, meteorites known as aliens have gradually come into people's sight. Many collectors are fond of them, and the domestic meteorite collection boom has also quietly begun. Nowadays, iron meteorites have skyrocketed, and the transaction price has been repeatedly refreshed. One stone is worth a thousand gold, and the market prospects are bright. Generally speaking, meteorites can be divided into three types: stony iron meteorites, stony meteorites and iron meteorites. Among them, iron meteorites are highly sought after by new collectors because of their unique historical value and scientific research value. Iron meteorites account for one percent of all meteorite categories, which means that only one out of a hundred meteorites falling from the sky is an iron meteorite, which shows that it is extremely precious and valuable.
In recent years, with the increasing popularity of meteorite knowledge, meteorites known as visitors from outside the world have gradually come into people's sight, and many collectors love them more. The upsurge of meteorite collection in China has also quietly sprung up. Nowadays, the iron meteorite has formed a soaring situation, the transaction price has been refreshed repeatedly, the real one stone is golden, and the market prospect is bright. meteorites. Among them, iron meteorites are pursued by collection upstarts because of their unique historical value and scientific research value. Iron meteorites account for 1% of all meteorites, that is, only one of the 100 meteorites falling from the sky is iron meteorite. It can be seen that it is extremely precious and valuable.
2. Study formats and application categories
(1) Learning methods: divided into full-time and part-time (full-time means full-time study in school, part-time means non-full-time study in school). (2) Application categories: divided into non-directed employment and targeted employment 1. Candidates who apply for non-directed employment must transfer their personnel files to Tianjin University of Finance and Economics after admission; 2. Candidates who apply for targeted employment must truly fill in the "current workplace". Tianjin University of Finance and Economics will not accept personnel files after admission; 3. Part-time only recruits candidates for targeted employment who are on the job.
3. Exam subjects
1. The unified examination courses of the Ministry of Education include: Ideological and Political Theory, English (I) or (II), Mathematics (I) or (III) or Comprehensive Ability in Economics, Comprehensive Ability in Management, LLM Professional Basics (Non-Law), LLM Comprehensive (Non-Law), LLM Professional Basics (Law), LLM Comprehensive (Law) Examination, etc., according to the requirements of the subject major. Please refer to the examination syllabus for details; 2. The basic courses of each major are set by Tianjin University of Finance and Economics.
4. Registration conditions
(1) Application conditions for academic master’s degree students: 1. Citizens of the People’s Republic of China. 2. Support the leadership of the Communist Party of China, have good moral character, and abide by laws and regulations. 3. The physical health status meets the physical examination requirements stipulated by the state and Tianjin University of Finance and Economics. 4. The academic level of candidates must meet one of the following conditions: (1) Fresh undergraduate graduates with nationally recognized academic qualifications (including fresh undergraduate graduates from ordinary universities, adult universities, and adult higher education held by ordinary universities) and self-study examinations and online education will be able to graduate undergraduates. Candidates must obtain a nationally recognized undergraduate diploma or the "Overseas Academic Degree Certification" issued by the Ministry of Education's Study Abroad Service Center before admission in the year of admission (September 1), otherwise the admission qualification will be invalid. (2) Persons with a nationally recognized undergraduate degree. (3) Those who have graduated from a nationally recognized higher vocational college for 2 years (from graduation to the date of admission in the year of admission, the same below) or more than 2 years, as well as undergraduate graduates with nationally recognized academic qualifications, who meet the specific academic requirements for candidates set by Tianjin University of Finance and Economics’ training objectives, can apply for the examination with the same academic qualifications as undergraduate graduates. Requirements for equivalent academic qualifications: Publish a paper related to the major you apply for in a newspaper or magazine. You cannot apply for another major. The registration point must be Tianjin University of Finance and Economics. Registration from other places is not accepted. Two additional professional courses will be taken during the re-examination. (4) Personnel who have obtained master's or doctoral degrees. Applicants for postgraduate students must obtain the consent of their training institution before registration. (2) Application conditions for professional master's degree students 1. The registration conditions for professional master's degrees in finance, applied statistics, taxation, international business, insurance, asset valuation, auditing, translation, accounting, journalism and media, and art design are the same as those for academic master's degrees. 2. To apply for master’s degree programs in Business Administration (MBA), Public Administration (MPA), and Tourism Management, you must meet the following conditions: (1) Meet requirements 1, 2, and 3 of the academic master’s degree program; (2) After graduating from a university undergraduate degree Those who have more than 3 years of work experience; or those who have graduated from a nationally recognized higher vocational college or have completed a bachelor's degree and have reached the equivalent of a bachelor's degree and have more than 5 years of work experience; or those who have obtained a master's degree or doctorate and have more than 2 years of work experience. 3. To apply for professional degrees in Business Administration (MBA) and Public Administration (MPA), please refer to Tianjin University of Finance and Economics’ Business Administration (MBA) and Public Administration (MPA) professional admissions guide. 4. Those who apply for the admission examination for master's degree in law must meet the following conditions: (1) meet the requirements in the registration conditions for academic master's degree; (2) the major studied before applying is a non-law major (law major in the law category in the catalog of undergraduate majors in ordinary colleges and universities)
The code is 0301
Graduates, college-level law graduates and law graduates who take self-study examinations are not allowed to apply) can apply for a law (non-law) professional degree; (3) the major studied before applying is a law major (only law majors in the law category in the undergraduate major catalog of ordinary colleges and universities)
The code is 0301
Graduates, college-level law graduates, self-study law graduates, and those who have obtained a second bachelor's degree in law can apply) can apply for a professional degree in law (law). (3) The registration conditions for individual examinations meet the requirements of items 1, 2, and 3 in (1) Registration conditions. Those who have worked continuously for more than 4 years after obtaining a nationally recognized undergraduate degree, are outstanding in business, have published research papers (technical reports), or have become the backbone of the business. With the consent of the candidate's unit and the recommendation of two experts with senior professional and technical titles, they will return to their original unit for employment; Currently, the majors that Tianjin University of Finance and Economics recruits for separate examinations are finance, accounting, business management, and administrative management. (4) "High-level Ethnic Minority Backbone Talents" Program Candidates who apply for the "Ethnic Minority Backbone" program of Tianjin University of Finance and Economics have registered online and must mail the "2023 Ethnic Minority High-level Backbone Talents Program Master's Candidate Registration Form" via EMS to the Tianjin University of Finance and Economics Graduate Admissions Office (Room 204, East Campus, Tianjin University of Finance and Economics, No. 25 Zhujiang Road, Hexi District, Tianjin, Postcode 300222). (5) Candidates who apply for the "Retired College Soldiers Special Master's Program" of Tianjin University of Finance and Economics should also submit the original or copy of their "Enlistment Approval Letter" and "Retired from Active Service Certificate" when confirming online. Note: Tianjin University of Finance and Economics’ part-time majors do not accept the “Retired College Student Soldiers” program.
5. Online registration
During the online application period, candidates should log in to the "China Graduate Admissions Information Network" to fill in the information. Please carefully read the "2023 National Master's Admissions Management Regulations" and the "2023 National Master's Admissions Examination Announcement" and pay the registration fee as required. For candidates who register to take the exam in Tianjin, the selection of registration points shall be based on the online registration announcement issued by the Tianjin Higher Education Admissions Office. Candidates with equivalent academic qualifications and independent examinations must choose Tianjin University of Finance and Economics as the registration site; if other previous candidates choose Tianjin University of Finance and Economics, please pay close attention to the specific requirements of the Ministry of Education and the Tianjin Higher Admissions Office on the selection of registration sites, except for those who have special requirements and must take the exam at this school.
6. Online confirmation
Candidates must prepare relevant registration materials as required, check and confirm their online registration information online within the specified time, and no re-application will be done after the deadline. Those who fail to participate in the online confirmation will not be admitted. Please refer to the online notice of each test center for specific arrangements.
7. About re-examination
The relevant requirements for the re-examination shall be subject to the re-examination admission methods published by Tianjin University of Finance and Economics.
8. Enrollment Number
Candidates can refer to the master's degree admissions professional catalog of the Yanzhao website for the number of admissions for each major. The planned numbers listed therein are estimates based on the student situation in previous years (excluding the number of recommended and exempted students). The actual number of admissions may be adjusted based on the actual planned number issued by the planning department, the recommended and exempted admissions and the situation of students who pass the unified examination, and will be reported to the school's graduate admissions leadership group for approval.
9. Contact information
1. Research and Admissions Office phone number: 022-88186371; MBA Education Center phone number: 022-88186384; MPA Project Center phone number: 022-28160161; MPAcc Project Center phone number: 022- 88157566. 2. Tianjin University of Finance and Economics Graduate Education Network (http://yjsy.tjufe.edu.cn/) 3. Research and Admissions Office Address: Room 204, Building J, East Campus, Tianjin University of Finance and Economics, No. 25 Zhujiang Road, Hexi District, Tianjin
Entering the village quietly, no need to shoot, and taking advantage of the darkness, the Japanese Self-Defense Force deployed a long-range missile with a range of 1,000 kilometers to Kumamoto for the first time. However, the night cannot conceal Japan's ambition to expand its military and prepare for war. It is this weapon with the "capability to attack enemy bases" that completely tears off Japan's disguise! Focusing on defense and giving up the right to war are no longer obstacles in the eyes of this government. The evil spirit of militarism is howling to return to the world.
This Type 25 surface-to-ship missile is a "quasi-cruise missile" covering East Asia. Launched from the Kenjun garrison in Kumamoto Prefecture, within 1,000 kilometers, there are the entire Korean Peninsula, parts of the Russian Far East, the core area along the eastern coast of China, and the surrounding areas of northern Taiwan. Another Type 25 high-speed glide bomb deployed in Shizuoka has also started the development of an upgraded model, with a target range of 2,000 kilometers. In line with Japan's ongoing research and development of sea-based, air-based, and submarine-launched models, as well as the Ministry of Defense's public deployment plan, military experts have judged that its goal is to build an integrated land, sea, and air long-range strike system nationwide. Faced with doubts from international public opinion, the Japanese government’s so-called “to enhance deterrence” explanation is feeble. Such a range and plans for continued research and development have long exceeded the red line of “self-defense.”
From the "Taiwan incident" to the self-defense team members carrying knives and breaking into the museum, to the long-range missiles deployed in the dark night - from the wild dreams of careerists to the madness of a government, behind all the signs is the pressing step by step of "new militarism". Tokyo politicians represented by Takaichi misled the public with the "China threat theory" while covering their ears, pretending not to hear the protests of the domestic people and the doubts of the international community. Unfortunately, times have changed. Today's China is not the China of 1931, and today's Asia is no longer the Asia of those years. If right-wing politicians insist on running on the dangerous road, what will eventually explode will be the thunder hanging above their heads.
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